Thinking of starting your own business? I failed miserably.

[Enye]

Why not open Shop selling Rolex while also selling / smoking cigars?

Oh wow why didnt i think of that earlier.

You are my SIFU !

 

Would you care to be investor in my business?

Imagine you go buy Rolex end up also buying cigars

Ir you go buy cigars end up also buying Rolex.

 

 

[Volvobrick]

i will never start a business if i dont hv the passion for the business i am doing.

If start business simply to make money and without passion.

Sure to fail.

 

I won't agree 100% with this - eg many cases of young people start cafes because they have the passion for  type of lifestyle, without going into the details of financial viability, competition, or the fact that probably 70% of such cafe will close within 2 years.

 

For me business is business, it is just one of the ways to generate income to fund our passions (whatever or whoever that may be)!  Sometime it even calls for cold headed decisions without zero emotional attachment.

[Chongster]

Many sme businesses that are successful are started by those working in the industry for dome time then come out and do themselves.

 

It’s not necessarily passion but the only thing they know how to do

[Jamesc]

Sorry to hear that bro but I think you gain wisdom that many do not. I have a few friends who failed in their businesses but they did not admit to their prospective that they failed. They said more of they do not agree with their business partners. In the end some of them get quite high post within the same industry as their businesses.

This is interview technique.

 

A fake answer the interviewer wants to hear is better than an honest answer of failure.

 

The trick is to assess the interviewer and see what answer he wants to hear. Some wants honest answers of failure, when you hear I like you, you tell the truth then you got the job.

 

Some only want to hear BS stories of success especially those that like to tell BS stories of success themselves.

 

If cannot assess then fall back on the Yes Man a lot like this kind.

 

One last tip. Impress the decision maker which may not be the person that is talking the most.

 

 

Edited October 24, 2017 by Jamesc

[Sunny]

hope TS will think and take things positively.

there's always a turn-a-round

money can always earn back

learn from mistakes and not to repeat again

 

 

 

 

 

 

 

 

 

 

[Jman888]

we are not sure if TS was writing about his experience or he was just sharing an article.

[DACH]

Sell house to start a business, not a wise move

In Singapore content, house is our last legit asset

Never never touch your house

 

I only heard of people sell house to pay business failure

But not sell house to start a business

 

Unless u are multiple properties, I got no comment

It takes a lot of guts to do it that many of us won't dare to do.

Deserve the respect.

[Angcheek]

I think TS is very brave. He did something a lot of us can only dream of.

 

Failure in business is inevitable. there are so many things to put into consideration when comes to success in running a business.

 

At least you tried before. You have my utmost respect.And you are still young, starting again isn't hard for you!

I help you .

 

Put money with me and i help you fail.

 

There , u get the experience liao

[Hoseyboh]

There was a chinese idiom, about the general sink the boat and broke the axe, so that men can only chiong forward. That’s the way man!

 

Anyway, back to TS thread, actually the fact that most start ups fail in 5 yrs is well documented, getting a job in Singapore these days is difficult is well known, got salary can buy hdb is well publicisrf, got no money sibeh cham is well understood- not sure what is he telling us that we all do not already know.

破釜沉舟，背水一战

[Acemundo]

Sell house to start a business, not a wise move

In Singapore content, house is our last legit asset

Never never touch your house

 

I only heard of people sell house to pay business failure

But not sell house to start a business

 

Unless u are multiple properties, I got no comment

i got one friend did just that.  at that time i was thinking he is very reckless to do that.  but his business came good.  not exactly multi millionaire now but at least he earned enough to buy a condo and was living in hdb before he sold it to put it into his business.

[Andyngps]

This is interview technique.

 

A fake answer the interviewer wants to hear is better than an honest answer of failure.

 

The trick is to assess the interviewer and see what answer he wants to hear. Some wants honest answers of failure, when you hear I like you, you tell the truth then you got the job.

 

Some only want to hear BS stories of success especially those that like to tell BS stories of success themselves.

 

If cannot assess then fall back on the Yes Man a lot like this kind.

 

One last tip. Impress the decision maker which may not be the person that is talking the most.

 

ð

Well said bro. Well said.

[Theoldjaffa]

To get the job TS just needs to clear the interview.

 

To clear the interview don't have to be the best candidate

 

don't even need to be the right candidate just have to know

 

how an interview works.

 

Very true. I have had ex colleagues whom I wondered how the hell they ever landed the job.

 

Thankfully they are now ex lol

[Philipkee]

Actually I DO consider being an U/G driver once I got tired of working for people.......

 

Not the kind of person who worries about face so I don't bother about the label.

[Davidklt]

Actually, there are some employers out there that are looking for people with start up experience, regardless of whether they failed or not, simply because have a different mindset and thought process.

 

If you really want to start a business in life, try it..build fast, fail fast. Better than living with regrets and not having a shot at it.

[Jusnel]

It's the vibes that the interviewers get from interviewees

 

A person goes to interview must show that he can add value to the company.

 

Even if a Harvard MBA graduate can't show during the interview, that he can add value to the company, no one will hire him. Many will think that he will be a white elephant sitting in the company.

 

It's what kind of impression you can give, during the interview, that make or break your job.

 

A person with failed biz, keep showing self pity and negative vibes during the interview, who wants to hire him?

[kobayashiGT]

Haha. To start off with I have no money alrd. I wanna put also have nothing to put! 

I help you .

Put money with me and i help you fail.

There , u get the experience liao

[DACH]

Actually, there are some employers out there that are looking for people with start up experience, regardless of whether they failed or not, simply because have a different mindset and thought process.

 

If you really want to start a business in life, try it..build fast, fail fast. Better than living with regrets and not having a shot at it.

Good to start a business when young, with not much money and experience in work, and ignorant of how the world works, or better start a business when old, when have a lot of money, experience in dealing with people and cash flows, and have that working experience that understand how the world works?

[Acemundo]

Good to start a business when young, with not much money and experience in work, and ignorant of how the world works, or better start a business when old, when have a lot of money, experience in dealing with people and cash flows, and have that working experience that understand how the world works?

actually start biz too young also not good.  not enough worldly experience to manage business, employees and finances.  granted there are some youngsters able to prove me wrong but i feel they are unusual (in ability) to start with.  hence their chances of succeeding in business is much higher (than average youngsters).

 

i have seen some small firm CEOs that have also poor management and financial skills.  they think that managing a business is same as raking in the sales.  it is actually much more than that.  a businessman can be a salesman but a salesman not necessarily can be a businessman.

 

but businessman that started old also very rare.  because when one is old, no longer got the vigour to start a business which can be pretty stressful and requires high committment.  i reckon mid to late 30s is the best time to start a business.  you have some capital, you still have drive and you have some worldly experience.