Power
Won Yip: "Where others give up, I continue"
From the age of eight, he helped out in his parents' Chinese restaurant in Vlissingen. Won Yip now has several catering establishments, of which the operations on Dam Square in Amsterdam form the core. The empire earned him the nickname 'Mr Dam Square' and made him one of the most successful catering entrepreneurs in the Netherlands. Won receives me at the office of the YIP Group and shares his vision on entrepreneurship, karma and hard work.
She once participated in the Miss Universe pageant, now she uses her charms to seduce exciting men for an interview for MASTERS. This time Irene van de Laar aims her arrows at catering entrepreneur Won Yip.
You grew up in Vlissingen as the son of Chinese migrants. What core values did you receive in your upbringing?
“It was obvious that we would help. It wasn’t asked, it was a statement. Everyone in the family had to do their bit. In the past, you just had to listen, there was no room for discussion. And there was also a relationship of authority, a clear line between parent and child. I am not strict myself, but I am very principled and consistent: promises and agreements must be immune to changing circumstances.”
You left Zeeland and opened Café Zwart, your first business in Amsterdam. Why did you choose Amsterdam as the starting point for your business?
“I was only nineteen and had a successful café in Goes, Pubbles. But I didn’t want to stay there for the rest of my life. I had a strong feeling that there was more. I thought: Amsterdam, the Dam, that must be good. The Central Station, the Kalverstraat, the Wallen: it felt like the right strategic choice. Without ever having been to the capital, I bought Café Zwart. Still my best deal ever.”
What was the status of the Dam at that time?
“When I bought Café Zwart in the early nineties, it was a real Wild West show on Dam Square. The traffic still drove around the national monument and you saw a lot of criminals, pimps, dealers and junkies. You didn't want to be seen there. It was, as Amsterdam would say, a fucking mess. Our prominent presence (Café Zwart, restaurant-café Majestic, pub Yip Fellows and bar Euro Pub) here has contributed greatly to the situation as it is now.”
In Amsterdam you own seven catering establishments under your own management. What are the success pillars of YIP Group?
“Focus and incredibly hard work. My Asian background also plays a major role. Where others give up, I persevere. It's in my blood. Of course, all businesses are in prime locations in the capital, which helps and is an additional safeguard for our business. The most important thing is my presence. I don't sit in an ivory tower: I am approachable, I observe and if something goes wrong I intervene. That's the only way people improve – 'the eye of the master'. In the meantime, there is still a corona receipt outstanding that needs to be paid and I have an exemplary function in times of staff shortages. I don't arrange that from a hammock in Marbella, then I come across as untrustworthy – credibility must be visible. I am present in the company every day and maintain a connection with the shop floor. And when you walk into a catering business, you must be able to see who is running the business.”
“I have been working for years according to the KISS principle: Keep It Simple and Stupid. I don't like memos”
What characterizes your working method?
“I have been working according to the KISS principle for years: Keep It Simple and Stupid. I don't like memos. I don't write anything down and can easily put it all into words. In the deals I make, a handshake from me is worth more than a contract. What you see is what you get. Decency and keeping agreements are essential to me.”
What is the golden formula in hospitality?
“I firmly believe in friendliness and service. You have to give your guests the attention that you would also like to give yourself. People come to a catering establishment and spend three and a half or four euros on a cup of coffee, while they have an espresso machine at home. Why do they do that? Because they want to get out of their rut and therefore want to be treated kindly. Nobody comes to the catering industry for a grumpy face.”
What are notable developments within your target group?
“We live in a world of leisure & pleasure. Especially in the big cities like Amsterdam, Berlin, Paris and London. Despite the rising prices, people continue to spend money, especially the younger generation. They are spoiled and used to a lot, and spend the money. Is it because of corona? I don't know, but the money is burning in the pocket, as if their last hour has struck tomorrow. The good locations in big cities will benefit from this and everything outside of that still has a challenge in terms of livelihood."
What is undeniably Chinese about you?
“That’s pride and work ethic. And my belief in karma. A while ago I had to have my eyes lasered. When I wanted to leave in the morning, I saw a black cat come out from under my car. I immediately cancelled the appointment. It’s just a feeling. Everything bad you do comes back to you, everything good too. I do a lot of charity, that’s the Asian idea that I got from home. That gives me satisfaction. I help people with it and it gives me karma.”
This year, Amsterdam city centre has a brand new project: Heineken Hoek – Hotel The Diamond. What can we expect from this new addition?
“With the realization of Heineken Hoek – Hotel The Diamond, I have created an exceptional concept together with partner Q Hospitality Group on the Leidseplein in Amsterdam, where the famous Heineken Hoek was located for decades. Heineken Hoek – Hotel The Diamond houses a café, a steakhouse, a table d'hôtes and 36 luxurious five-star rooms. The exterior facade refers to the famous Koh-i-Noor (a 109-carat diamond, ed.), which offers a spectacular view. This project has been a marathon since 2007, it was nine times falling and ten times getting up, but I never let go. This fall, 2024, we will open in phases and I am really looking forward to it.”
You say you paid a heavy price for your career. Explain?
“I have made great sacrifices to make the YIP Group successful. Among other things, I have missed out on many important family moments, but I also realize that I have chosen this life and the family understands that I am often working. You do it well or you don't do it at all. I plan to keep going for a few more years, precisely because I paid that price for it. I no longer have the need to prove myself, I have already seen and experienced everything.”
Which masterstroke has brought you the most?
“For me, it is still our prominent presence on Dam Square: it is a unique location and the absolute number one in the Netherlands. Not even comparable to Leidseplein and Rembrandtplein. The businesses on Dam Square enable me to do the things I want. In many ways, it is the money printing machine. Apart from corona, Dam Square has also proven to be recession-proof over the past thirty-five years.”
In 2022, a documentary about your life was released, '2Doc: Koning op de Dam'. What made you decide to cooperate?
“I gave the directors full access to my life, because people often see the glamorous side of it, but few know what lies behind it. The documentary tells the story of my roots. About how my parents fled China and came to the Netherlands penniless. A family where working in the restaurant came before everything else, including attention and love. Every house has its cross in the end. I think it’s great that people can look through that shell after watching the documentary. People sometimes think I’m crazy for working my ass off, but this film shows you where my drive comes from.”
You once described yourself as a workaholic. How is your entrepreneurial drive these days?
“If I had retired ten years ago, I would probably have fallen into a black hole: money, knowledge, acquaintances and time are often a combination of factors to do something wrong. I now live in a different time and it is increasingly difficult for me to adapt to a woke culture, transgressive behavior, part-time work, audit & compliance, KYC, licensing system and the slowness with which things move. The entire landscape of entrepreneurship has changed. Ten years ago, you were still allowed to be successful. I have the impression that this is no longer allowed. If you drive a car that is too expensive, you will already be pointed at. I try to worry less these days. In the past, the work had to be finished by the end of the day, now I accept that this is not always possible.”
Where do you see yourself in five years?
“I will limit myself to ongoing and existing projects for the next five years. That will be enough. What will I do then? Absolutely nothing. Now I have to do all sorts of things every day. I am really looking forward to not having to do that anymore.”
MASTERS #59
Success stories dominate the new edition of MASTERS. Take Bill Gates: he worked his way up to become the world's richest man and now sees it as his noble duty to give his wealth back to the world. Joe Ravitch, who made a splash as the man behind the sale of Manchester United and Chelsea, links the value of these clubs partly to their reach. "Companies are looking for access to gigantic fan bases. In this way, new economies can be created." Also - exclusively in MASTERS - an interview with Marcus Breitschwerdt, executive vice president of Mercedes-Benz Group, through whose efforts Mercedes-Benz Heritage has evolved into an independently operating company with a turnover of hundreds of millions. And 'Mr Dam Square' Won Yip, whose Heineken Hoek – Hotel The Diamond opens this autumn, shares his vision of entrepreneurship, karma and hard work. Our annual business fair MASTERS EXPO (12 to 16 December, RAI Amsterdam) is like a three-dimensional bundle of inspiring success stories. In this edition a tantalizing preview of the business event of the year. MASTERS 59: your guide to greatness!
From the age of eight, he helped out in his parents' Chinese restaurant in Vlissingen. Won Yip now has several catering establishments, of which the operations on Dam Square in Amsterdam form the core. The empire earned him the nickname 'Mr Dam Square' and made him one of the most successful catering entrepreneurs in the Netherlands. Won receives me at the office of the YIP Group and shares his vision on entrepreneurship, karma and hard work.
