Challenges are nothing new for Y. P. Chan ’94. After business school, he raised a total of $15 million in capital for six Internet and publishing start-ups, founded and ran an environmental technology company and expanded an IT consulting firm from 15 to 70 people. But karaoke might be his toughest challenge yet.
In 2003, Chan was appointed COO of the Singing Machine Company, a firm that manufactures and distributes home-electronic karaoke equipment, music and audio products. Chan is responsible for turning around the $100 million company, which is now threatened as a result of rapid growth. “It’s the ultimate test of my ability,” says Chan. “It allows me to think strategically, act decisively and make a major difference.”
Although he says his daughter loves her karaoke machine, when asked about his own karaoke talent Chan replies, “I’ve tried it before, but singing is not one of my core competencies!”