The path to entrepreneurship rarely looks the same for everyone. For some, it begins with a big idea and the hard grind of building something from the ground up. For others, it takes shape through the acquisition of an existing business, offering a head start but bringing its own set of challenges.
In Candid Conversations, Parth Shah, Founder of FYORO, sat down with Kelvin Panitpichetvong, Founder and Principal of Succession Capital, a corporate professional turned entrepreneur, to unpack the transition from boardroom to ownership, the nuances of acquisition and the realities of running a business in Hong Kong.
What unfolds is a window into the choices and trade-offs that shape entrepreneurial success.
From Structure to Ownership
Shifting from a corporate environment to owning a business demands a fundamental mindset change. The structure, clarity and safety nets of a corporate role disappear the moment you step into ownership. Every decision carries weight: for employees, for customers and for the business itself.
Yet, the move also offers freedom. Corporate experience equips leaders with skills in strategy, finance and operations, but ownership adds a new dimension of accountability. It requires comfort with risk, adaptability to unexpected turns and the humility to learn from the team already in place. The first test of ownership isn’t about financial acumen, it’s about gaining trust and earning legitimacy.
Choosing the Right Business and Building the Right Team
Acquisition is as much about people as it is about numbers. Financial statements might signal opportunity, but the culture and capability of a team determine whether that opportunity endures. Evaluating a company means looking beyond profitability and assessing whether the people are aligned, resilient and motivated to grow under new leadership.
Hiring becomes a balancing act. On one hand, respecting the existing team is essential; on the other, growth often requires new talent and fresh perspectives. Leaders who succeed in acquisition are those who recognize that teams are not static assets—they are dynamic and investing in them is what transforms a purchase into a thriving enterprise.
This lens also reframes how risk is understood. Rather than searching for the perfect business, the sharper question is: does this company have a strong enough foundation—in culture, systems and customer relationships—to be taken further?
The Growth–Profitability Dilemma
One of the hardest choices an entrepreneur faces is how to balance growth with profitability. In corporate settings, top-line growth is often rewarded even when margins are thin. In ownership, however, the focus shifts: profitability ensures survival, while growth fuels ambition.
The reality is that businesses go through seasons. There are times when doubling down on investment and expansion makes sense and others when protecting margins is the smarter play. The skill lies in knowing which lever to pull—and recognizing that an unprofitable business cannot sustain growth for long.
This isn’t about choosing one over the other; it’s about sequencing. Strong entrepreneurs recognize that profitability provides resilience, while disciplined growth provides momentum. The art is in balancing the two without letting one overwhelm the other.
Operating in Context: Lessons from Hong Kong
Geography matters. Markets shape how businesses operate, what customers expect and how competition unfolds. Hong Kong, with its position as a global hub, illustrates this vividly. Opportunities abound, but so does competition. Success requires agility, cultural awareness and the ability to adapt to shifting economic and political currents.
The lesson here extends beyond Hong Kong. Whether in established markets or emerging ones, entrepreneurs must read the context as carefully as they read the numbers. Strategy cannot be copied and pasted from one setting to another. Resilience and adaptability—not just capital—are what ensure staying power.
Concluding Thoughts
The journey from corporate executive to business owner is one of reinvention. It demands more than technical skill; it requires judgment, people leadership and the ability to navigate uncertainty. Acquiring a business offers a faster path into entrepreneurship than starting from scratch, but it comes with its own set of challenges, from aligning teams to balancing growth with profitability.
The insights shared in this episode of Candid Conversations point to a broader truth: success in entrepreneurship lies less in the model—build or acquire—and more in the mindset. The leaders who endure are those who combine ambition with discipline and who understand that businesses grow not just through strategy, but through people, culture and context.
This blog offers only a snapshot of the discussion. To dive deeper into the ideas and experiences shared, watch the full episode through the link below.
🔗| https://youtu.be/268v_YxF26U?si=IpHuvzDih-l_M9HI