THE HORIZON MIND:
The Horizon Mind covers the 6 elements to each topic in the blogs; includes Overview, MyStory, MyAnalysis, Iconic References, Summary and What’s Next.
Horizon is defined as the line at which the earth’s surface and the sky appear to meet and it is defined as the limit of a person’s knowledge, experience, or interest.
The Horizon Mind discusses the overall topic with iconic references as resemblance of events to be remembered for the betterment of the future. Humans tend to believe things which have some kind of evidence attached to it.
1.0 OVERVIEW
Grab Holdings Inc (GRAB) had been certified as the first Southeast Asia’s “decacorn” – (Decacorn is a start-up with a valuation of over US$10 billion. GRAB was valued at USD14 billion in 2019.
GRAB is now listed at New York Stock Exchange (NYSE) via a merger with a special-purpose acquisition company; Altimeter Growth Corp in 2021. Grab is expected to secure a valuation of nearly US$40billion.
When Anthony Tan and Tan Hooi Ling were studying MBA in Harvard Business School (HBS) in 2011 and they got a second place in HBS New Venture Competition for a business plan of an on-demand business model.
The Grab idea (originally was known as MyTeksi) was mooted out by Anthony Tan; started with a question of “How can I best take care of other people”. Starting from that question, both of them had gone through countless brainstorming sessions and discussions to come out with the MyTeksi app (later rebranded to Grab app).
Despite the current and future challenges that GRAB is having in the market internally or externally, their right mindsets of doing the things will be handled with care will be used to overcome the hurdles and challenges.
Being involved with the team for a roughly 2 years period in the development phase that had shown their mindsets and their cultures of doing things, get more in My Story section in The Horizon Mind.
2.0 MY STORY
When I was working in Cradle Fund Sdn Bhd (Cradle) as a disbursement manager in 2011, I was handling the MyTeksi idea that was brought up by Anthony Tan and his co-founder; Tan Hooi Ling. Cradle is a Malaysia government’s agency that providing grants for innovative business ideas from ideation stage to commercialization stage. I had witnessed the whole process of how the MyTeksi team had completed the MyTeksi app from the idea stage to a prototype stage [Minimum Viable Product (MVP)] in the CIP150 (Cradle Investment Program 150) phase within a year.
The team had progressed well to pursue to the next level of investments ie commercialization grants and private investments in the next few years.
Since then, they had been flying high in their journey across countries and nations with a few rebranding exercises and diversification strategies.
3.0 MY ANALYSIS - What made GRAB Inc. so successful?
Based on my observation and analysis, the following 4 elements were discovered on why GRAB is successful and they are growing steadily despite obstacles and challenges in the journey:
The right mindset.
Visionary leadership
Business model
Operation Management and Business Governance.
Have a dive-in to our analysis of their 4 elements of GRAB'S journey, here.
1. THE RIGHT MINDSET
“How can I best take care of other people?”.. this was the question that made Anthony Tan and Tan Hooi Ling came out with a superapp service platform or “The Everyday Everything App”. With the right mindset, they explored, discovered and challenged themselves to provide the best services to the people. Grab Holdings Inc (GRAB) has evolved tremendously within their first 10 years life span.
Get to know how did they form their mindset, here.
2. VISIONARY LEADERSHIP
The 1st factor contributing to the success of GRAB is the right mindset, while the second factor is the visionary leadership by both of them. Anthony Tan & Tan Hooi Ling had been driven GRAB to become a successful decacorn company in ASEAN. And they are growing steadily with the supports from its 5,000 plus employees and 710,000 plus partner-drivers throughout the countries. Revenue per employee ratio was US$110,000 per employee in the year 2018 which translated into each employee was contributing US$110,000 to the company. The numbers kept growing with the efficiency and the effectiveness in their operations.
Get to know how did they create the visionary leadership, here.
3. BUSINESS MODEL
A business model is a structured plan of a business; on how it is making money. It’s an explanation of how the business delivers value to its customers at an appropriate cost.
Get to know more on GRAB’s business model in details here.
4. OPERATION MANAGEMENT AND BUSINESS GOVERNANCE
At GRAB, they have instilled their 4H of its core values; Heart, Honour, Humility and Hunger. Their employees across countries and nations (known as Grabbers) should have the heart and humility to serve, the hunger to execute and bring ideas to life, and the honour to keep their word in GRAB’s ecosystem.
The Operation Management and Business Governance allows GRAB as a business entity to sail in the middle of the ocean throughout the whole world and benefiting millions of customers and thousands of its partner-deliveries.
5. ICONIC REFERENCES
We have seen the downfalls of companies internationally and how the companies struggled to keep the businesses from failing at the very end of the time; similar to the 37 seconds The Titanic’s crew had only seen the iceberg was in front of the ship; nothing much that they could do without proper preparation and proper equipment or tools. The iconic reference for the failed businesses in the middle of their journeys is The Titanic Mindsets which represent the mindset of the crew members and its planning team (i.e. the management of The Titanic). Get to know my analysis on The Titanic Mindsets here.
The most critical problem is hubris; a characteristic of excessive confidence or arrogance, which leads a person to believe that they may do no wrong. The overwhelming pride caused by hubris is often considered a flaw in character. It means arrogance and excessive pride. This can be a character feels internally, but it usually translates into the character’s actions.
I
t is totally opposite of The Titanic Mindsets for GRAB which I had the privilege to deal with the initial team in 2011 during the prototype development. But the iconic reference of The Titanic Mindsets is given to this topic in order for us to be aware of the dangerous of The Titanic Mindsets.
Plans are nothing. Planning is everything.
But mindset is the king of everything.
Once your mindset changes, everything on the outside will change.
As mentioned above, GRAB’s founders Anthony Tan and Tan Hooi Ling are totally apposite of The Titanic Mindsets; both of them are humble people despite Anthony Tan came from a wealthy family but he remains humble as an ordinary person.
Personally, I do hope that both of them to be remained as humble as they were before and for their team members to be the same wave length as them.
6. SUMMARY
Despite any challenges or obstacles faced or to be faced by GRAB in the middle of the ocean, GRAB could still steer the storms because GRAB has the above 4 elements in their mindsets and their progression.
The most significant difference and advantage that GRAB has in achieving their success as of to date is the mindsets of the leaders in GRAB as compared to others.
It is unfortunate to understand that there are a lot of businesses in the market but failed in the middle of their operations.
My humble suggestion for the existing businesses in operation is to revisit the above 4 elements in your ecosystems before it is to late to make any changes.
7. WHAT'S NEXT?
The Horizon Mind covers the five (6) elements to each topic in my blogs; includes Overview, MyStory, MyAnalysis, Iconic Reference, Summary and What’s Next.
For business owners, I would humbly suggest for a revisit of your business units on the 4 important elements in this blog.
My biggest concern of all is The Titanic Mindsets which made a lot of once successful multi international companies succumbed to the end just like RMS Titanic 1912 succumbed to the Atlantic Ocean on the 14th April 1912.
Feel free to read more on my blogs for The Horizon Mind, below.
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