Mentoring with Humility with Leroy Yau
AngelHub chats with Investment Committee member Leroy Yau and learns about the art of mentoring
Leroy is an experienced consultant for startups and large organisations in Asia. He is a partner at 43 Ventures, a Hong Kong boutique investment and advisory firm that builds early-stage business ventures.
Wise Words
Leroy is interested in building companies and not just investing in them. “Many people have the assumption that we need to help the startups -but these startups don’t necessarily need my help- although every situation is different. For example companies often need a listening ear to talk to and also a sanity check. The point of sitting on the board is not to agree the whole time with everything the founders are saying but to sometimes listen and sometimes tell them an honest opinion when necessary.”
“ Its really about the fine balancing act of enjoying helping the startup and supporting them through honesty and listening to them.”
Leroy has keen insight on the human aspect of building a startup. “People often neglect to talk about the whole emotional aspect of building a startup.”
Leroy continues — “at the end of the day, its often about emotional resilience-founders that succeed must have the ability to endure during difficult times and remain positive. If you have the right people- great founders and a talented team then things will happen.”
Leroy and his team help Early Stage Startups grow and often help startups in different ways. They are only able to work with a startup if they believe they can offer them extra value. “It’s also all about the dynamics and listening to what the founders need and having a mindset of interactive listening for a mentor and startup relationship.
“We have to have humility and sensitivity in order to give sound advice- it’s all about being gracious and not having a mindset of lecturing.”
Building Businesses
Leroy explained to us at AngelHub how he evaluates early stage startups. Leroy explains how business models are almost meaningless and at this stage and at this point startups need to show what they have accomplished and how they have recently grown. One needs to evaluate:
“How has the startup deck changed in the past three months? The abilities of the founders at this stage are so important.”
What do you look at first when assessing a startup?
Early stage startups: Does the company understand the actual product market fit? They need to know what is actually working and actually test it out in the market.
Understanding the Market: How much does the startup actually know about the market? They have to be doing AB testing- its not just about running a tech business but they need to understand the actual market. There also needs to be the right balance between having product perfection and also understanding where the market is actually at without necessarily focusing too much on the product.
Why AngelHub?
“The market is asking for a new channel and Angelhub represents just that. AngelHub is setting a new path in the way people invest in startups and its all about the founders- Co-Founders Karen Contet Farzam and Karena Belin make this work!”
Who Is Leroy Yau?
Leroy is also an executive director of Everiii, a new economy development and investment firm in Taiwan. Previously, Leroy was an Advisory Partner for over 5 years at EY and has extensive experience in business operations, risk management, cybersecurity, and corporate governance. Leroy was fortunate to have met several exceptional founders, partners and startups and began investing himself in several startups and social enterprises while spending more time in Hong Kong and Taiwan. He is currently serving on the board for a number of startups and nonprofit organisations. In addition to being a frequent speaker and trainer for startup courses and events, Leroy is a co-author and instructor of a Hong Kong Institute of Bankers certificate course entitled “Certificate in Technology Management and Innovation in Banking”. Leroy is currently serving as the President of the ISACA China Hong Kong Chapter. Leroy is a graduate in computer/electronic engineering, accounting, laws and education and is a fellow member of the Hong Kong Institute of Certified Public Accountants and CPA Australia.
