Follow an entrepreneur's inspiring journey where he turned his failures into stepping stones towards success, highlighting the beauty of entrepreneurship in his life and the risks he’s taken.
Story by Sim En Wei Sheryl
Photos courtesy of Tan Tse Yong
Meet Tan Tse Yong, an adjunct lecturer at Nanyang Polytechnic (NYP). He may look like an ordinary guy, but little do people know that he is a risk-taker — turning rags to riches through the power of taking risks. He could even be typified as the epitome of ‘your millionaire next door’.
Today, at the age of 43, Tse Yong is a successful serial entrepreneur with an impressive portfolio of businesses catering to diverse industries. His product and service offerings include Cookpass, Happy Cycle, Arrowme, BMS Organics, Sumu Goods, and KittensNook.
Tse Yong was born into a humble family with parents who were hawkers by trade and who weren’t highly educated, but they always gave their best to provide for him and his brothers. Back when he was in junior college, Tse Yong felt the pressure to excel in his GCE A-Level Examinations but ended up failing his General Paper, which prevented him from enrolling into any universities. However, the series of setbacks made him understand the true meaning of failure and it became the biggest turning point of his life.
He reflected, “Failure is just a stepping stone to another stage in your life. I realised that one must not tag his life’s worth to a piece of paper.”
After completing his National Service, he came across a news article enrolling mature students for the Diploma in Sports and Wellness Management at NYP, where he excelled and topped the course with a 3.8 GPA. Instead of pursuing further studies, Tse Yong followed his senior to manage polytechnic gyms, and later founded Fitlion in 2009, an online supplement store. From there, he founded Gymmboxx in 2010.
Tan Tse Yong in his Fitlion phase. Photo courtesy of Tan Tse Yong.
“I focused on building a strong community on social media to strengthen our customer relations. One of our customers even tattooed our logo on his calf!” he exclaimed.
In 2016, Gymmboxx won four trophies from the Singapore Heartland Award under the Most Franchisable Award and The Young Entrepreneur Award. “That truly validated my six years of hard work as a home-grown brand in an immensely competitive industry.” By 2017, he grew Fitlion and Gymmboxx into a $16 million business.
Despite running multi-profit businesses, Tse Yong faced several challenges in his entrepreneurial journey, namely the shortage of manpower and difficulty finding qualified personnel. Tse Yong believes in taking calculated risks, not waiting for inspiration but rather being the inspiration. He worked with the Institute of Technical Education (ITE) to hire student interns to help alleviate the human capital issues. He also managed financial challenges of high shipping costs by obtaining trade financing from banks.
“I make sure to learn from my mistakes, including a bad decision to rent cheap land for Gymmboxx at Science Park which I later found to be inconvenient for customers,” he recalled.
Additionally, Tse Yong utilises social commerce features like TikTok Shop to sell his goods, and collaborating with NYP’s Teaching Enterprise Project to have students manage his brands’ social media platforms. Moreover, as an adjunct lecturer in NYP, he not only gives back to the institution that played a vital role in his life, but also connects with the youth and taps into their creativity and fresh perspectives to improve his business ideas. He added, “This rollercoaster ride may be far from easy, but I regard my entrepreneurial journey as a calling that empowered me to shape my destiny.”
Giving a speech to NTUC members. Photo courtesy of Tan Tse Yong.
Tse Yong recognises the importance of seeking support from his loved ones. When he first started his business, he was upfront with his wife about the financial uncertainties that lay ahead. Regardless, she remained his steadfast pillar of support from the beginning.
Tse Yong’s proudest moment in life was not defined by his personal achievements or accolades but by the impact he has made on an intern. “I guided my intern to become the General Manager, Director, and eventually CEO of Gymmboxx within six years. It felt great to make an impact on someone’s life!” To Tse Yong, inspiring and empowering others to succeed is a greater accomplishment than any amount of wealth or awards.
He explained, “Money is simply the end result, but the passion for people and the business are the ones that drive me to go on.”
With students from NYP’s Diploma in Sports & Wellness Management. Photo courtesy of Tan Tse Yong.
Tse Yong faced countless obstacles but never lost sight of his dreams. His story is a reminder that success is not just about reaching a destination, but about the journey of continuous learning and improvement. He encourages aspiring entrepreneurs to take the leap of faith and embrace calculated risks, as well as to follow their dreams and make a difference in the world. “With hard work and determination, anything is possible!”