I went for breakfast with a business associate who's more like a friend now. I don't do breakfast meetings very often but I was there to give moral support because the company he's working for is shutting down the Singapore office. That means he'll be out of a job soon. But being an entreprising young man, he's already planning on becoming his own boss.
I'm all for it. I always encourage people to start up their own business if they can. It costs very little to register one in Singapore. We're completely free from red tape and there are no hoops to jump through. In fact, you can register and start trading on the same day!
I always think that even if you don't have alot of money to invest, you can go for something less capital intensive. I started out with very little capital and told myself that if I couldn't succeed after one year, I would rent a food stall to sell cooked food.
Of course there are people who have no desire to run their own business but I like being a business owner, even if it is a teeny weeny one. I like the fact that I'm not accountable to anyone. When my friend was telling me how anxiety sets in every month end while reporting sales figures (especially dismal ones) to the headoffice, I secretly heaved a sigh of relief.
I'm glad I don't have to convince my boss that I've been doing my best and there's nothing I can do to upturn the downturn. As an employee, there are so many policies to adhere to. You cannot cross into a colleague's territory, you have to be watchful of your actions, you have to churn out a darn report without fail everytime your boss demands it.
Being the owner also means that if your business doesn't do well, you'll be the first to go without salary. Or when things go wrong, you're the one left holding the fort. There are chances that you may become rich but the risk of losing everything is there too. You're responsible for your own actions and have more control over your destiny.
Back to the breakfast meeting... We had a good chat at Mcdonalds for over an hour. This is perhaps not the best time to be laid off but you never know, he may end up doing very well on his own. I wish him all the best.
There are a certain up and downside to being a boss. But I think the upside outweighs the downs anytime ... hehehe ...
I whole-heartedly endorse what u say, but would like to add that the best small business is to go for the one-person business.
That way, one needs only manage one set of expectations: that of the customers.
No staff morale to worry abt. Just earn enough to keep going or earn as much as one has the appetite/ambition for. Stay in business till one kicks the bucket or when a sudden windfall takes care of the next 100 years to come.
I wish I had learned that when I was starting out but that was another world then. When I discovered this model in 1992, I've never looked back and seem not to have felt any of the ups and downs in the economy.
Row, row, row your boat,
Gently down the stream.
Merrily, merrily, merrily, merrily,
Life is but a dream.
Blur Ting, i laughed so hard when i read what u wrote about renting a stall to sell food 'cos i'm thinking of EXACTLY the same thing!
tat if my consultancy don't work out, i go sell char beehoon! hahahahahahaha.......
darn how some people think alike!
i'm preparing for my consultancy to go live in a month's time, will let u all know then! =)))
ok, everybody ah....HUAT AH!!!!! *WIDE GRIN*
Nick - I think so too.
Auntie Lucia - I so agree with you.I learned the hard way too when we were running a consultancy with two dozen people. Everything we earned went to pay salaries. There were loads of staff problems to handle too.
Then I realise it is all about bottom line. It doesn't matter if you're a one-man show or a corporation, ultimately the most important thing is to have a healthy bottom line. The smaller you are, the less problems and expenses. You probably end up richer in so many ways.
Fry - You know what. I wanted to sell char bee hoon too! What a coincidence! I didn't care if it was glam or not, I just wanted to earn enough to feed the kids.
I'm glad you have that entrepreneurial spirit in you. I wish your consultancy will fly high high! All the best Fresh Fry!
scary the coincidence sometimes!!
*screams + runs to hide behind coconut tree*
hai ya! excited tat i forgot me manners!
GAM-SIAH, BLUR TING!! WE ALL FLY HIGH HIGH, OK!!!
oh! oh! i forgot to add again!
me think the best char beehoon is cooked with canned pork (from China) + cabbage + slivers of carrot. hehehehe......
Ah, I know which one! Wah, very phang!
I think got chestnut inside the can right?
hehehe....yup! the one kenna gahmen banned some time ago! kekeke.....if want more meat, can use the pork rib variety. but me think the trotters better! hahahahahaha....
but sad to say, me mom dun like tis kinda char beehoon style. T__T
she prefers cabbage + carrot slivers + stir-fried hae-bee. =(
TT, that's exactly my state of mind you're describing.Seems I am the odd one who is enslaved to work. Seriously though, I enjoy what I am going and I ain't complaning!
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