In today’s Entrepreneur Story, Kevin Chern, the CEO of Sanguine Strategic Advisors, tells us about his entrepreneurial journey and his unique approach to helping business owners. Kevin shares his experience of starting and growing law firms with the goal of expanding access to legal services. He discusses the challenges he faced and the regulatory battles he fought to legitimize innovative platforms in the legal industry. 

Kevin also explains how he transitioned from running law firms to creating an alternative advisory model that leverages his personal and professional network to connect business owners with solutions providers. He highlights the importance of finding a balance between professional success and personal fulfillment and shares his insights on building a business that fits one's lifestyle. Throughout the conversation, Kevin emphasizes the value of mentorship, problem-solving, and creating high-value relationships with clients.

What are three things every entrepreneur should know?

As an entrepreneur with decades of experience, I've distilled everything I’ve learned into three important principles that I believe every entrepreneur needs to know. First, resilience is the bedrock of success. Entrepreneurship is a journey riddled with challenges, setbacks, and unforeseen circumstances. Embracing resilience ensures that you weather the inevitable storms and emerge stronger on the other side.

Second, adaptability is a non-negotiable trait. The business landscape is in a constant state of flux, with technological advancements, market trends, and consumer behaviours evolving rapidly. Entrepreneurs who can adapt, pivot, and embrace change find themselves not just surviving but thriving in this dynamic environment.

Lastly, building meaningful relationships is the secret sauce to sustainable success. In the interconnected world of business, the relationships you cultivate can open doors, provide support, and present unforeseen opportunities. Genuine connections foster collaboration and create a network that acts as a robust foundation for long-term entrepreneurial endeavours.

What problem does your business solve, and who are its customers?

In my current venture, I've set out to address a pervasive challenge faced by businesses—effective vendor selection. Many entrepreneurs grapple with the daunting task of choosing the right partners for their diverse needs. Leveraging my extensive network and experience, I've developed a platform that connects businesses with pre-vetted solutions providers.

The customers of my business are twofold. On one hand, we have businesses actively seeking solutions to their challenges, spanning from marketing to operational efficiency. On the other hand, our solutions providers are businesses offering specialized services in various niches. By creating a symbiotic relationship between these two groups, I aim to streamline the process of finding and implementing solutions, fostering efficiency and growth for both parties involved.

What inspired you to become an entrepreneur?

My journey into entrepreneurship was fueled by a deep-seated desire to expand access to legal services. Beginning my career as an attorney, I realized the transformative power of innovative business models to address societal challenges. The opportunity to create progressive platforms within the legal industry ignited my entrepreneurial spirit.

Over time, I found that entrepreneurship provided not only a platform for positive change but also a means to shape my destiny. The ability to overcome challenges, make a lasting impact, and help others along the way became a driving force behind my continued commitment to this entrepreneurial path.

Knowing what you know now, how would you have spent a million dollars when you first started your business?

If I had a million dollars when starting my first business, strategic allocation would have been paramount. I would have prioritized building a robust infrastructure and invested substantially in technology to streamline operations. A significant portion of the funds would have been directed toward targeted marketing efforts and forging strategic partnerships. These investments would not only accelerate initial growth but also establish a solid foundation for long-term success. The hindsight gained from experience underscores the importance of wise financial decisions in the early stages of entrepreneurship.

What is your proudest accomplishment as an entrepreneur?

In all my years as an entrepreneur, one accomplishment stands out as my proudest – creating a business model that aligns seamlessly with my values and lifestyle. Through intentional decision-making, I've built a platform where I can leverage my extensive network to help others while maintaining a balanced and fulfilling personal life.

The achievement lies not just in the success of the business but in finding a harmonious balance between professional accomplishments and personal fulfillment. This realization has become a guiding principle, emphasizing the importance of aligning one's entrepreneurial pursuits with a broader vision of a well-rounded and satisfying life.

What big goals are you looking to achieve?

As I look ahead, my focus is on scaling the innovative platform I've created. The next phase involves transforming it into a turnkey solution accessible to individuals and organizations. I aim to empower more people to monetize their networks, fostering mutually beneficial relationships in the process.

The overarching goal is to revolutionize the way business connections are made and valued. By creating a marketplace that enables individuals and businesses to curate their own networks and solutions, I aspire to reshape the landscape of professional collaborations. This journey involves not just personal success but a broader vision of empowering others to harness the potential of their networks.

In the dynamic world of entrepreneurship, Kevin Chern can be seen as a trailblazer, seamlessly blending legal acumen with a keen entrepreneurial spirit. His commitment to reshaping traditional business models and fostering meaningful connections showcases a visionary perspective that transcends conventional boundaries. As Kevin continues to pioneer innovative solutions, the entrepreneurial community eagerly anticipates the impact of his endeavours on the future of business. Through his journey, Kevin not only inspires but provides tangible lessons for aspiring entrepreneurs navigating their own paths of growth and success.

Looking to divulge your own entrepreneur story? We’d love to hear and share it here! Contact us today to uncover your own inspirations, triumphs, and learnings.