Mathew was raised in Sydney, Australia. Achieving early entrepreneurial success, selling his first company at twenty three years old. Travel followed, providing wide international experience. Mathew eventually decided to call Malaysia home 8 years ago. He is a visionary Director and leading light in the wealth management and international advisory corporation Melbourne Capital Group (MCG)
HOMME chatted to Mathew to understand his methods and enthusiasm:
HOMME: What 3 questions do you ask yourself before investing in a business?
Which problem is your product or service solving?
How do you intend to earn money out of solving this problem?
Is your business improving the world in some way?
HOMME: What is your best advice to an individual wishing to launch a new startup?
I always advise people to start with at-least some financial backing, startups rarely go to plan and will often pivot multiple times during their journey. There are some fundamental tool sets that will give a startup the best chance of success and if they’re done properly – they’re expensive. For example, it is worth investing money into a comprehensive branding guide for your business. Many people think a logo is all that is needed to get going, but there is so much more to branding. Branding is a complex task that requires someone with experience in the field, it’s worth investing in from the start.
Another area of focus needs to be the corporate structuring and intellectual property rights, again, while expensive, getting these things right from the start saves a thousand headaches further down the track.
A lot of people balk at the expense of the above, but I cannot re-iterate how important it is to start with enough funds, to get these fundamentals in place.
Give us 3 interesting facts about Mathew Tate?
Despite being Australian, I am a partner in an English Pub called Sid’s Pub in Malaysia. I really enjoy the “local community pub” spirit of the place. It’s the kind of place you can walk in and you’ll likely find yourself in an interesting conversation with the regulars within moments.
At the start of my career, I worked on early versions of Artificial Intelligence focused on trading the Australian stock market. A lot of my youth was spent on building self-learning algorithms more commonly referred to as Artificial Neural Networks. I find the concept of teaching a computer program how to teach itself fascinating. This is still a passion of mine to this day and I eagerly study AI developments.
I know how to fly Helicopters and intend to complete my license in the near future.
What challenges are often encountered in Malaysia’s business community which differ from other countries?
In our role as corporate advisors, we’re often introducing foreign capital to South East Asia, part of this role includes helping foreign investors navigate the Malaysian business community.
Malaysia has very unique ownership requirements designed to protect the interests of the Malaysian people. This often requires complex structures to meet the requirements and protect the interests of all parties.
While Malaysia operates on a common law system, there are very unique qualities to the disclosure and intellectual property laws that differ from what foreigners may be used too.
What motivates Mathew Tate to start a business?
Be it investing or starting a business, I enjoy seeing the growth when a company follows a clear strategy for success. I often see businesses get confused and stray away from their growth strategies, but when people stick to the plan, you would be surprised how often it results in success.
To quote Col. John ‘Hannibal’ Smith from the A-team
“I love it when a plan comes together.”
What is your idea of perfect happiness?
Just to sound excruciatingly Australian for a moment, A cold beer next to a hot BBQ. Surrounded by friends and family of course.
What is your greatest fear?
My greatest fear at the moment is that the people of Malaysia allow fear mongers to ruin the unity between all the great peoples that make up Malaysia.
What is your greatest extravagance?
That’s an easy one – I enjoy tinkering with cars. This becomes an “extravagant” hobby in Malaysia due to the taxing of vehicles and parts here. There is something satisfying about pulling something apart, understanding it – and then putting it back together in better condition than it was.
What do you consider the most overrated virtue?
Prudence, whilst being sensible with wealth is important, I also believe there needs to be joy in life, while many sources of joy exist, many of them are provided by money. I often say to people “It’s okay to have nice things.”
Which living person do you most admire?
Leaving his controversial opinions aside, I admire Elon Musk for “doing something”. Going back to the early days of his career, he’s always been solving real problems in innovative ways. He’s built amazing solutions to problems facing finance, automotive, space travel, telecommunications and many more. Many of these industries faced innovation road blocks which he removed.
Again, while I certainly don’t agree with everything he says, one must admire his achievements.
Which words or phrases do you most overuse?
“Safety first, THEN Teamwork.” Often used ironically prior to doing something dangerous, like ordering a second bottle of wine.
What is your next professional challenge?
I would like to obtain an investment banking license somewhere in South East Asia and use it to drive funding into projects that improve the region. There are so many amazing opportunities to invest in projects that simultaneously improve the world and generate healthy returns.
When the time is right, I would like to formalize and consolidate our charitable initiatives into a properly structured foundation.
Who is your favourite writer?
Perhaps Cliché, Roman Emperor Marcus Aurelius. His works, while ancient – continue to offer amazing advice on how to live. I suggest that all of my new team members read his book Meditations at least once.
How would you like to be remembered?
I would like to be remembered as a pillar of the community. I take great pride in assisting people where I can.
What is your motto?
“Punctuality is a pillar of civilization. Don’t show up late with a take-away coffee in your hand“
https://www.melbournecapitalgroup.com/
Level 13-2 UOA Corporate Tower,
Lobby B, Avenue 10, The Vertical City,
8, Jalan Kerinchi,
Bangsar South,
59200 Kuala Lumpur,
