Building a company, let alone multiple companies, is no easy feat. Along the way, people will encounter losses, financial struggles, and other challenges. However, patience and tenacity are required to see the results. Moch Akbar Azzihad M, popularly known as Abay, is a young entrepreneur who has built his empire from the ground up, and he’s sharing his secret.
Starting his first business at just 17 years old, Abay had no starting capital, let alone experience managing a business. However, he didn’t let that get in his way. His passion and dreams were too extraordinary to be left unaccomplished. Using the little money he had saved up, he took a risk and bought a few spare parts for sports cars and racing bikes.
It didn’t take long for word to spread through marketing and exemplary customer service, and his shop was the go-to in town. With the revenue he generated, he expanded his business and diversified to selling customized hoodies, caps, and T-shirts. Bygazz Racing is now an industry leader in Indonesia.
The best thing about pursuing something that one finds endlessly interesting is that they never get bored. Following his passion for entrepreneurship, Abay notes this was one of his best decisions, and it was the start of a lifelong journey.
One thing about Abay is that he’s never one to settle after success; he is constantly looking for ways to fill the ever-growing market gap. Rather than lavishly spending his income, he invested it, and together with his partner, they launched his second company, DGRCRV, a digital marketing agency. He’s also a successful crypto trader and investor and serves as an influencer at CoinMarketCap.
Succeeding in an ever-changing business landscape requires adaptability and flexibility. To keep up with changing consumer behavior, Abay has embraced change. Understanding that learning is a continuous process to stay ahead of the game, Abay spends time reading through books or learning from the rich network that he established over the years.
In business, failure and risk are part of the journey. According to Abay, one’s reaction to both determines the future of their company. While Abay has faced failure, his approach to it is to keep moving forward. The lessons learned have also been of great help to his success.
In 2017, Abay was involved in mining cryptocurrencies and suffered a considerable loss that profoundly impacted his finances. Clients returned goods claiming they were counterfeit and seeking refunds. Due to the Paypal policies at the time in Indonesia, there was no article to help the trader. Unfortunately, the goods returned by the clients were not the goods he had sent, and he ended up losing both the goods and money.
Taking the lessons to heart rather than giving up, Abay came back stronger. He founded Converco Global, a digital banking platform designed using blockchain technology. Converco is currently available in the Philippines, Indonesia, and Singapore, and Abay and his team are looking to expand to other countries in the future.
Although he started small, Abay had a plan that involved a bigger dream. Fueled by his passion and desire to live his dream, he has worked his way to the top. He is a self-made millionaire at the age of 24 years old.