Dear Mommy,

Last week I had coffee with Danny Yeung, the founder and CEO of UbuyIbuy.com (aka Groupon of Hong Kong). As the king of the daily deal site, Groupon.com recently had a $1.35 Billion valuation round. So no surprise, there are numerous companies in on this space.

While many aspire to trek along in this space, it takes 3 key attributes that I see a CEO must have and Danny Yeung appears to have these qualities.

1:: Leverage. While UbuyIbuy.com competes with a few other bargain sites, Danny Yeung separates from the pack from leveraging celebrities such as Van Ness and MC Jin. Van Ness and MC Jin generates trust.

2:: Assertiveness. When UbuyIbuy.com first started, Danny Yeung went out to create opportunities going from door to door to merchants attempting to sign up contract deals. Never wait for opportunity, but the key is to learn to create them. (analogy – don’t wait for the elevator to arrive, take the stairs)

3:: People skills. If you ever meet Danny in person, you would know instantly. He simply has great people skills. With a great smile, he puts people at ease and simply does not over sell his company or product. He has the vision to develop partnerships as oppose to trying to get a one time deal.

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While the daily deal collective bargain space will be populated, the space overall will continue to create opportunities for both the website entrepreneur and local merchants. The deals simply play off the power of the sampling effect. At the end, I think that the companies that can generate a continuous cash flow and has stellar sales them that can close partnership deals will win.

Additionally, there is psychological rush to having a good deal so the space will just grow but in a more creative manner.

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Note: I met Danny Yeung @ Web Wednesday, a great monthly gathering of tech/entrepreneur fanatics in Hong Kong. Read Rayfil quenches innovation thirst with Napolean Bigg’s Wed Wednesday