Wednesday, 22 July 2015

A note on Entrepreneurship

It's been a while again from my last update. Been busy fire-fighting at work. A note to my previous post, Singapore Savings Bond is finally up for grab this October. So ready your cash cos the stocks don't look set to crash (despite the Greek crisis stirring in the background). I have remained dormant while I see my stocks go into the red zone and back to green again.

So what's interesting lately?

I have been to a job interview. To cut things short, it's kind of a one-man-show job which I could probably learn a lot on in terms of running a business. The downside is that the remuneration package is much lower than what I am getting in current job.
After weighing the pros and cons, plus the total working hours (8.5 official hours a day, with alternate Sat half-day. There goes my pilate classes..), my financial goals, direction of this business and what I thought of the boss - I said to myself "Heck with what learning la, you don't know what you are getting into". Suddenly What Colour is Your Parachute comes into use and I remembered the 5 petals the book talks about. Cannot survive on just 1 petal right? sigh...

Nevertheless I am still interested in doing business. The thing is I just couldn't find where my passion lies exactly yet. I lack a spark, a force of ignition.

I like Ma Yun's words here -

“Focus is essential for business. When laying down the strategic goals for your business, you must never exceed three. Once you’ve exceeded three, you won’t be able to remember them, and neither will your workers. When you set down goals each year, just determine the three most important, and cut out the fourth.
Why is Alibaba a seven-company business, rather than eight? A person’s management capabilities have limits; one can only manage at most seven teams. Seven and below will pose no problem, [but]exceeding that will definitely bring about problems. In terms of small start-ups, the strategic thing to do is to survive. To survive, you must think carefully about three issues: the first is what you want to do, the second is how to do it, the third is how long to do it for.”

To me for now, investing in stocks is the first step to business. Learn about the different fields, learn to find value, learn to look at business strategies... If I could run a business, which company fits my ideal? Does the business identify needs in the market? Is what it does sustainable?

Then watch and see if the money comes in. $$

Ma Yun's words part II.

Equally entertaining as the first. ;)
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