360° Coverage : Swedish Entrepreneur's Multi Million Dollar Business...

10 Updates

Swedish Entrepreneur's Multi Million Dollar Business Success: Why Mom And Dad Know Best

May 5 2014, 11:41am CDT | by

When you’re a student, clinching an international internship with a major multinational is one sure way of gaining a competitive edge in the jobs market. The business of arranging those elite work...

Filed under: news

 
 
 

12 weeks ago

Swedish Entrepreneur's Multi Million Dollar Business Success: Why Mom And Dad Know Best

May 5 2014, 11:41am CDT | by

When you’re a student, clinching an international internship with a major multinational is one sure way of gaining a competitive edge in the jobs market.

The business of arranging those elite work placements – at around $5,000 for two or three months, they aren’t cheap – is one of the fastest growing sectors within international education and travel.

And if it hadn’t been for Swedish entrepreneur Fredrik van Huynh’s ambitious parents, he might never have founded of one of the market leaders, Absolute Internship, a multi million-dollar company that has placed 2000 student interns with blue chip companies all over the world.

Born and raised in Sweden, the son of Cambodian immigrant blue-collar factory workers, van Huynh was the first in his family to attend high school or university. As a child he learned to speak seven languages, and from as far back as he can remember, was firmly steered away from the mundanity of factory life and towards better things by his parents.

They were determined that he would have what they had never had; an education, so as a teenager, winning a university place became an all-encompassing goal.

“Believe me, where I come from, a small village in Sweden called Gnosjö, where all my friends’ parents worked in manufacturing, this made me stand out. Nobody went to university,” recalls van Huynh.

 Global business lingo

His parents also steered him towards fluency in several foreign languages at a very early age, one of their life philosophies. As well as native Swedish, at home, he learned to speak Khmer, the language in Cambodia, and in school he learned French.

His mother knew a retired Chinese language teacher in the village who taught him Cantonese and Mandarin, and every day after school, while his friends were playing video games, he studied Chinese.

Those multilingual skills were to become one the keys to his success as an entrepreneur; sharper insight into foreign markets and cultures, and clearer communication with locals, vendors and business partners.

To deter him from any thoughts of following in his footsteps to the factory, van Huynh’s father sent the 14-year-old on a two-week apprenticeship at a metal manufacturing company. He wanted him to experience production line monotony first hand.

Van Huynh says: “I biked the 14km round trip everyday for two weeks, and spent nine hours each day putting metal sticks to a paper box. I remember how boring it was, and I knew that I never wanted to do that in my life.”

He made it to university and during his first year, secured a three-month internship with Handelsbanken, one of Sweden’s top banks. While he enjoyed the experience, van Huynh never really felt that he fitted in.

“It seemed to me that no one in the company actually cared about the success of the bank,” he says. “I wanted to impact the company I was working for. I wanted to create and be 100% responsible for my own success. I didn’t just want to hit the clock each day to receive a paycheck each month.”

As a student van Huynh also got to travel, spending time as an exchange student in Shanghai, and in his final year, in Osaka, Japan.

Profitable intern placements

By early Spring many of his classmates were looking for summer internships. van Huynh, who had established a large network of friends and professional acquaintances, started helping them find internships in Shanghai through his old connections./>/>

He says; “I managed to help three of them, but then they wanted to know how to apply for visas, and how to find accommodation. That’s when I realized there was a smarter way of doing this, and I came up with the idea of setting up a business to send groups of students for overseas internships.”

He teamed up with intern Aurélie Chouaf, who he’d met a couple of years earlier, and in 2009, aged 23, launched Absolute Internship, with just $2,000 and a new laptop.

Van Huynh’s language skills paid dividends, while his flair for networking helped to forge strong ties with universities across the world. Today the company has a global team of ten in London, Shanghai and Hong Kong, 

working with more than 500 multinational and local companies around the world.

The dynamic young Swede has his own philosophies for business success; ‘Be 24/7; business never sleeps’, and ‘Treat everyone with respect; every contact knows another contact’, but views his parents’ life philosophies as the ones that count.

He says: “I’ve met a lot of successful people through my business and travels, from self-made millionaires to top investment bankers, but never anyone as resourceful and inspirational as my parents. They showed me by example how hard work is the way to getting what you want out of life.”

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rak ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into by rob ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by th ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hishammuddin Husse ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern s ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

8 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

8 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mustapa Mohamed ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

8 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocation of RM20 million. ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

8 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Baz ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

8 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Skyway (Kidex) tod ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Liberia reports new Ebola cases
Lagos, Aug 1 (IANS) The Liberian government has reported new Ebola cases as of July 28.
 
 
Japanese men's life expectancy over 80 years for first time
Tokyo, Aug 1 (IANS/EFE) The life expectancy of Japanese men stood at 80.21 years in 2013, the first time that men have gone past the 80-year mark in the Asian country, according to the country's ministry of health, labour and welfare.
 
 
Methane created mysterious Siberian crater: Study
London, Aug 1 (IANS) The mysterious crater spotted in the frozen Yamal peninsula in Siberia earlier this month was probably caused by methane released as permafrost thawed, Russian researchers say.
 
 
Why some people can cope with short sleep
New York, Aug 1 (IANS) Most people require seven to nine hours of sleep to have proper daytime functioning, but some people can function normally on less than six hours of sleep per night owing to a gene mutation, says a study.
 
 
 

Latest from the Network

Jada still besotted with Will Smith
Los Angeles, Aug 2 (IANS) Even after 17 years of marriage, actress Jada Pinkett Smith is still very smitten by actor husband Will Smith. The 42-year-old actress is "ecstatic" about the way their union has evolved,...
Read more on Celebrity Balla
 
Indian paddlers Sharath-Amalraj get silver
Glasgow, Aug 2 (IANS) Indian paddlers Achanta Sharath Kamal and Anthony Amalraj had to settle for the silver medal in the men's doubles after they lost 1-3 to Singapore's Hu Li and Ning Gao in the title clash of the...
Read more on Sport Balla
 
Jennifer Lawrence splits from Nicholas Hoult
Jennifer Lawrence and Nicholas Hoult have reportedly split up again. The on-again, off-again couple agreed to part ways recently because of their busy schedules. A source told E! News that their break-up ''was very...
Read more on Celebrity Balla
 
Cameron Diaz is Benji's Madden's muse
Benji Madden admits Cameron Diaz is his muse. The 35-year-old rocker, who started dating 'The Other Woman' actress earlier this year, says she inspires him to be the best person he can be and makes him ''really happy...
Read more on Celebrity Balla
 
Julia Roberts is 'really proud' of herself
Julia Roberts is ''really proud'' of herself for being a working mother. The 'Normal Heart' star, who has nine-year-old twins, Hazel and Phinneaus, and seven-year-old son Henry with husband Danny Moder, tries to spend...
Read more on Celebrity Balla
 
Rob Kardashian feels abandoned by Lamar Odom
Rob Kardashian reportedly feels abandoned by Lamar Odom. The 'Keeping Up with the Kardashians' star, who is rumored to be battling a number of issues, including depression, after gaining 50 pounds, allegedly started...
Read more on Celebrity Balla
 
Simon Cowell tips Cheryl Cole for motherhood
Simon Cowell has tipped Cheryl Cole for motherhood. The 'X Factor' star foresees his fellow reality show judge - who secretly wed French restaurateur Jean-Bernard Fernandez-Versini last month - becoming a parent in the...
Read more on Celebrity Balla
 
Indian squash pairs lose in mixed quarters
Glasgow, Aug 1 (IANS) Indian squash pairs Saurav Ghosal-Dipika Pallikal and Harinder Pal Sandhu-Joshana Chinappa bowed out from the Commonwealth Games after losing their respective mixed doubles quarter-finals at the...
Read more on Sport Balla
 
Paddler Sharath in men's doubles final, singles semis
Glasgow, Aug 1 (IANS) Veteran Achanta Sharath Kamal still remains India's brightest table tennis star among all others as he led from the front to come out on top in both singles and doubles categories at the...
Read more on Sport Balla