Ban Joo Trading — The Success Gene of Family Business
What does it take to sustain a family business? A brilliant idea? A great team? Yes. All of those things. But more than anything what it takes, is belief. A belief that there is significance to the problem being addcressed, and that the solution is something, which the consumer wants. It is amazing how most family-run businesses have such humble stories of starting up.
The Humble Beginning of Family Business
The Ng family has been selling Chinese medicine in Bangsar for more than 40 years. Today, Andrew Ng, the son of the founder Ng Chuan Lee, and his wife Tan Pit Yan and younger sister Ng Bee Hong run the business, Ban Joo Trading. Ng Chuan Lee started the Chinese medicinal store from scratch – with little resource and capital. “I have had the opportunity to work beside my late father for many years. It wasn’t an easy thing to do during those younger years, especially when it started when I was so young,” Andrew recalls the hardships and challenges while working alongside with his father.
The humble beginning did not stop the family business from growing and expanding. Until now, the Ng family had outgrown its original business to a Chinese medicine store that offers traditional Chinese medicine (TCM) treatments. Ban Joo Trading has chalked up a significant milestone with Andrew joined the business as a successor and a qualified Chinese medicine doctor.
Adapt and Innovate While Preserving its Service, Values and Quality
Andrew credits the stable expansion and success to his father. The secret to lasting success, says Andrew, is to not get complacent. That is easier said than done, especially when your business has been going strong for years. “It is always delicate, when things are successful, to be innovative, as new things implicitly have its own risks”, says Andrew. “The fundamental idea to keep in mind is that things can always be done better.” Every generation passes on “an intangible heritage of values that are the basis of business continuity”, recalls Andrew, “Tradition is only part of the equation. We need innovative spirit.”
As such, Andrew attended the Chinese Medical College of Malaysia for five years where he also practised TCM for two years before he started his services at Ban Joo Trading. “The balance between tradition and innovation has always been our leitmotif and, probably, the key to our success,” says Andrew. In other words, Ban Joo Trading continues to adapt and innovate in order to keep up with consumer market trends and needs. But it also preserves its service, values and, of course, its quality.
Family Business is the Lifeblood of Economy
Family businesses are an important source of prosperity and stability in both our economy and our society. There are many successful companies are actually family owned and proud of it. These businesses create jobs, invest in their communities, and give back to society. The successful family businesses serve not only as a model for other family businesses but also for all companies to innovate and grow consistently. Ban Joo Trading’s journey has not been easy, now with more than 40 years of existence has many challenges ahead, but it was precisely this journey that gives strength and courage to go ahead and declare a success story.
Ban Joo Trading
Address: 19 Persiaran Ara Kiri, Lucky Garden
Kuala Lumpur 59100
Contact: +603 2094 3085