#5th FTS Mumbai – Unleashing the Transformative Power of “Small Actions” with Eric Sim

In a riveting session at the 5th edition of the Financial Talent Summit organized by CFA Society India, held at The Lalit, Mumbai, Eric Sim, Ex-Managing Director at UBS Investment Bank and the author of the recently launched book “Small Actions,” took centre stage. His compelling journey from modest beginnings to corporate success serves as a testament to the profound impact that seemingly insignificant actions can have on one’s professional trajectory.

Journey of Resilience:

Eric Sim embarked on his career at DBS Bank, initially working in sales. Despite facing financial constraints post his engineering studies, he pursued an MSc in Finance, later transitioning to roles at Standard Chartered Bank and Citi. His relentless pursuit of self-improvement led him to complete the challenging CFA certification. Eventually, he joined UBS Investment Bank, where he ascended to the role of Managing Director, advising Asian financial institutions and corporate clients. He recollected that during his time post his Engineering, he had no money and no job. During his MSc, he was working in small jobs in London to recover his tuition fees. His life story resonates as a testament to perseverance and the transformative power of continuous self-improvement.

Key Lessons from Eric’s Talk:

1. Developing a Signature Skill:

Eric’s journey began with a reflection on the importance of developing a signature skill. Drawing on a unique personal experience, he recounted his evolution from an introverted engineer to a professional with a distinctive skill set. By controlling his Mac Laptop with his mobile device, he attracted attention and recognition, emphasizing the impact of cultivating a skill that sets one apart.

He gave a perfect example of a French restaurant where the chef prepares a unique dish of mashed potato which is given free although wine is the most sought-after drink there. However, still the mashed potato helps people come to this restaurant.

2. The Art of Storytelling:

The power of storytelling took centre stage as Eric shared personal anecdotes, revealing the three essential elements of a compelling narrative: setting, conflict, and resolution. He recounted his pursuit of a Ph.D. at Princeton University, demonstrating how life’s twists and turns could lead to unexpected but fulfilling resolutions. Further, he underscored the significance of telling not only personal stories but also those of others, emphasizing the universal appeal of well-crafted narratives.

At this juncture, he mentioned the story about his tailor. His tailor without knowing any language other than Mandarin, landed in USA and attracted customers by providing customized suits at a minimum time and making people business ready. He also highlighted that, Do not go where you need to fit in, go where you are celebrated.

3. Building Your Personal Brand:

In an era dominated by globalization and digitization, Eric stressed the importance of creating a personal brand. He illustrated this concept with a powerful image: when someone unfamiliar praises you, you’ve successfully established your personal brand. Eric urged the audience, particularly the younger generation, to leverage platforms like LinkedIn for self-marketing and brand-building. Examples, such as Toyoyuki’s successful connection with people from India through his posts on South Indian food, highlighted the potential of personal branding.

Further, he also gave examples of Tim Cook. Tim Cook spending time with Asian people and exploring their various dishes is indirectly marketing about the care and awareness about the South Asian Countries by Apple. Here Eric focused on the underrated skill of Selling. He mentioned that be at any job, learn to sell. Unless you bring revenue and add customer to the company, you might be redundant for the company. After certain experiences in the job, everyone does sales only.

He explains this very beautifully with a picture.

4. Strength of Weak Ties:

Eric shared a compelling story about his interaction with a student from IE University, showcasing the strength of weak ties. Initially setting strict conditions for a talk, the student’s persistence and efforts ultimately led to Eric delivering a talk. This anecdote highlighted the importance of going the extra mile to make meaningful connections and the impact of perseverance in achieving goals.

5. Mastering the Art of Reaching Out:

Reaching out to unfamiliar individuals is an invaluable skill, and Eric provided insights into effective outreach. Stressing the global connectivity of the modern world, he emphasized the need for thorough research and a focused approach before reaching out to a person. An illuminating example involved Eric successfully reaching out to a CEO for an interview by doing his homework and research on the CEO and his company which he clearly mentioned in the initial communication. This emphasized the importance of a strategic and considerate approach to professional networking. He also mentioned that in the first communication it is not ideal to be very pushy. While you may reach out for your job or work, you need to focus on what is in store for the other person. It is always important to respect the time and value of the other person.

6. Taking Small Actions:

The transformative power of small actions formed a central theme in Eric’s talk. He shared a personal triumph over the fear of public speaking, a feat that many American’s consider more daunting than heights or drowning as per the Washington Post. Eric’s strategy involved taking small actions, such as joining a dance group where he stood behind the dancers on stage. Even he tried to go to the stage and stand there after any event is over just to feel the presence of stage. Over time, his fear dissipated, culminating in his current status as an international and impactful speaker with nearly 3 million followers on LinkedIn.

Eric also highlighted “Do not manage your Time. Manage your Energy” of managing energy rather than time. Identifying the most productive hours of the day and allocating them to essential, non-urgent tasks, such as speech preparation, book reading and strategic thinking, contributes to sustained productivity. Additionally, he advocated for streamlining trivial decisions, such as wearing the same outfit every day and consuming the same type of meals weekly, to optimize energy for more impactful and productive work.

Eric Sim concluded his impactful talk with a powerful mantra: “Start Small, Start Now, Stay Curious.” His insights, enriched with personal anecdotes and practical advice, resonate as a guiding light for professionals navigating the complexities of the financial world. In a world inundated with constant change, Eric’s emphasis on the transformative potential of small actions offers a blueprint for success that transcends the boundaries of the financial sector, inspiring individuals to embark on their journeys of self-improvement and professional growth.