Tim Lee’s journey to success is a remarkable story of perseverance and innovation. At 22, Lee emigrated from South Korea to Sydney on a working holiday, armed with big dreams but minimal English skills. After starting work as a tiler in Bankstown, he quickly improved his language skills and gained valuable experience in the trade.
While working late at night, Lee devoted himself to self-education through free online resources, especially YouTube, where he learned coding, business, and marketing—all while managing a toddler. This thirst for knowledge eventually led him to establish his own tiling business, exposing him to the challenges faced by small business owners.
At 32, feeling unfulfilled, Lee left the tiling industry to focus on a more ambitious project. In 2018, he launched Bookipi, a simplified bookkeeping platform aimed at saving time for businesses. Despite initial struggles and relying on his wife’s support, Lee’s persistence paid off when he secured his first investment in 2020. By 2021, after pivoting his approach, he turned Bookipi into a million-dollar enterprise within just two months.
Today, Bookipi boasts over 524,000 users across 170 countries and has facilitated the generation of $46 billion in invoices since its inception. Lee’s venture now employs more than 120 people and stands as a testament to his resilience, especially considering that many Australian small businesses fail within their first year. Lee himself faced six failed attempts before learning crucial lessons from each setback.
He advises fellow entrepreneurs that speed and execution outweigh perfection in business. Building a minimum viable product allows for receiving customer feedback swiftly, which can be invaluable. Lee emphasises that collaboration with capable and pleasant individuals is crucial for a thriving business environment. Ultimately, he believes that fun and a positive atmosphere can significantly drive a company’s growth.
Tim Lee’s story encapsulates the entrepreneurial spirit, showcasing how determination, continuous learning, and a willingness to adapt can lead to significant success.