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Why Singaporeans Don’t Succeed in Business? Too Much Pride!

Hi guys, I need to thank you for the many encouraging messages that I received. I am feeling much better and I am thrilled to be teaching for a year again. Hopefully, with my renewed vigour, I don’t screw up and will be able to handle the various business needs properly. I am stretched on all sides but I really feel that all Singaporeans need to be adequately prepared for their path towards maximizing their potential in business and property endeavours.

Many of my business associates have been complaining to me that they have been having problems getting foreign workers renewed. They are cracking their heads trying to resolve their labour issues. Finding Singaporeans is tough as it seems that we have bred a generation of highly educated but completely lack hunger.

To illustrate his point, a good pal was sharing with me that he had over 100 applicants for a marketing opening and 2 applicants for 5 sales openings. Well that goes to illustrate that people like to spend money (on marketing) but hate to sell. Many Singaporeans find sales jobs demeaning and beneath them. The situation gets worse as we go up the education curve. They don’t understand that sales is crucial to the business and do the job because they have no other choice.

The fact is that even superstar business people have to sell to keep their jobs. Think Steve Jobs. Hey, even superstars like Tom Cruise and Jay Chou have to go on tour to promote their movies at launch. Do they like doing it, maybe no. But they do it to the best of their abilities and trust me hard work pays off.

We really need to go back to a appropriate Chinese saying. If you take the hardships of hardships, you will rise above others. There is no demeaning jobs but you demean yourself. To me, I don’t start businesses for the glory but rather to provide benefits to society and provide livelihoods to all my colleagues.

Your Friend,

Andy Ong

28/08/11

Leverage on Singapore’s brand equity!

Hi guys! I’m in the air again coming back from Taiwan. This will be the last t leg of my China tour. I visited Nanjing, Shenyang , Guangzhou and the last couple of weeks have been hectic entertaining partners and officials. When I say entertain, it can be quite bad especially when I don’t smoke and really don’t like smoky environments. In addition, the Chinese drink like nobody’s business! It is very bad news for a lightweight like me who can’t hold my alcohol. Our Chinese operations are gaining traction and I really hope to expand our range of businesses into this frontier of 1.3 billion people. Chinese habits need getting used to and well, I’m trying my best to adapt.

The Chinese are well on their way to become a super power both economically and militarily and they are not afraid to show it. This gentleman I was entertaining came from a military background and his solution to solving the Spratly Island issue was to mass bomb whoever lays claim as a deterrent. The way they use numbers can be quite scary and can be quite shocking for Singaporeans. One ‘Yi’ (一亿) which is a hundred million RMB seems to be an everyday affair.

With that said, they do have a certain level of respect for Singapore as our government really has done a good job in promoting our ‘Garden City” squeaky clean image. However, we have not leveraged on this enough as other groups especially the Taiwanese have done very well to capitalize on the Chinese mainland growth. They hunt in packs and our lone wolf mentality has really jeopardized our position. Sad but true.

There are still huge opportunities in the second and third tier cities of China and I hope to see more Singaporean enterprises succeeding in the endeavour to crack these markets. Quite a few Singapore companies have done well but so much more can be done. ERC hopes to play a part in your success.

Your Biz Buddy,

Andy Ong

12/08/11

ERC mini-MBA , the restructured mentoring program by Andy Ong.

Hi guys! I have decided to restructure one of our programs to tailor it to become a practical solution to business owners and ‘stuck’ executives. What does this program do for this group of individuals? Through the years, social media, new corporate finance techniques, management doctrines have all emerged to make the older folks a little irrelevant. In fact, many feel lost in this new world order.

The mini-MBA is structured to enable business owners who are witnessing a plateau on their business and executives who feels they are not up to the mark in the new world we are living in. I have assembled a team of top notch professionals to assist in the coaching of these group of professionals. They include Dr John Vong who also acts as a consultant to the World Bank amongst other prominent appointments. All the coaches are practitioners to ensure that the attendees get the latest business concepts.

What is unique is that participants will graduate with an action plan to help them get ahead in their chosen career path. In other words, this is not a ‘theoretical’ program but a solution to propel you ahead! The First intake starts in August and is totally sold out. Do visit our webite, www.erc.com.sg for news of the second intake.

Your Friend,

Andy Ong

14/07/11

Post-Wedding Bliss, Not Mine! Andy Ong’s new resolution!

I was a happy dude yesterday as I was invited to my students’ wedding. Robin and Gina who attended my BAP a few years ago got married last night and I felt very good seeing how happy they were. They finally got hitched after a 12 year courtship since they met in poly. They are now striving to carve their niche in the bathroom accessories industry and I really hope that they will achieve both success and happiness. They are really a sweet couple and they look so happy together. I really appreciate their invitation. I hate weddings with a passion, and I only attend those absolutely necessary.

I realized that despite all the stuff that I have done over the last few years, seeing my students become successful still gives me the greatest satisfaction. I realized that quite a few of my students have started their businesses and they are ready to scale up and take on the world now. They have increasingly come to me for advice which can be quite distracting, as all of them face the same issues but I hate to be repeating myself all over again.

I really need to find a solution that enables me to leverage my time and help them at the same time. Quite a few of these businesses have the potential to be world beaters and I hate to see people’s potential go to waste. I have always believed that all of us have God given talents, however we don’t give ourselves the opportunity to maximize them. In fact, this is biblical. If we maximize the talents we are given, more will be given. I have been very blessed to have the opportunity to be running a range of businesses ranging from education, real estate, commodities and now in the midst of building our first 300 room hotel. I would like the opportunity to share my knowledge and experience with my protégés as well.

In the next few years, I hope to devote more time to my students who don’t just talk but have demonstrated their will to put their thoughts to action. We all deserve happiness and it is important that we bother to stretch our hands out and grab it.

Your Friend,

Andy Ong

12/07/11

Open Your Eyes! Before it is too late.

Hi guys. Since the last entry, I have been to Thailand, Australia and China. Yes. It has been a hectic period. I just ended my very last Apps class last weekend. I was impressed with the quality of people who attended. They are extremely bright individuals who have decided that they want out of being an employee and want to start something of their own. They ranged from civil servants to business owners. 3 new companies will be starting as a result of this class. We will be bringing the apps market to a whole new level, God willing. They range from education concepts to one taking a stab at the financial services industry. ERC Investments will be funding this batch of pioneering firms. We hope they will be successful ventures.

Singapore has probably the best infrastructure for starting businesses. The government is extremely supportive, and to start a business is perhaps such an easy task. It just take less than a day compared to our neighbours in the region where bureaucracy restricts trade and may even favour locals. It is extremely transparent in Singapore.

However, many locals are not exploiting the resources and environment. We complain complain and complain. Trust me, no one is going to thrust success into your lap. You have to earn it yourself. That is the rule and not the exception.

Many Singaporeans think that by going into NUS/NTU and earning a degree, you are entitled to the good life. Excuse me! That is a start but only a start. The war has just begun, not only against Singaporeans. You are competing against the cream of the crop from the region. We will need to rise up and seize the day! However, we spawn a generation who have taken things for granted. They are smart and intelligent but expect things to happen because its their birthright. Such attitude will only land Singapore in hot soup.

The people at ERC are committed to assisting people who want to help themselves. We have won accolades from all our students who have made something out of themselves. Of course, we do not fund crap, people who are natural losers who will just be wasting our resources. We reserve out precious time and money to real people in need, those who are hungry for success and willing to pay a price for it.

I will be teaching my last entrepreneurship class end June, and I hope to see you there.


Your Biz Buddy,
Andy Ong
16/05/11

World Full of Opportunities – Which One for You?

The whole world is paved with gold. Seriously, I walk down the roads of all the cities of Asia and Europe, and my conclusion is that the whole world is full of opportunities. I only wish I have the bandwidth to execute but unfortunately, I am but one person. True, I have my key executives who have braved the journey with me thus far but I am wearing them out as well.

I had a meeting with Daryl, one of my students who have become a friend. His original cupcake idea has now become a much bigger project. I am told I have a unique eye to business. Perhaps, this is one of the gifts I have been blessed with. How do I view what businesses are viable?

Go back to the basics- What, Who & Why.

• What products and services do you want to offer? Does it offer you enough margins to sustain long term viability? You must understand that Singapore is an expensive place to do business and you need over 60% margins in order to sustain let alone make a profit.

• Who is your target audience? If you do not have customers, you are in trouble.

• Why will they buy from you? What are your USP? Or Unique Selling Proposition.

If you cannot answer to any of the above, you are in trouble.

I am in the midst of going through a court case this couple of days and after that I am flying to Bangkok for my AGM. The case concerns a property dispute and I am quite certain I will prevail. This has dragged on for 5 long years. I have still yet to get out of my personal rut. I really feel like shit today. Pardon my language. A senior entrepreneur once shared with me that you are not an entrepreneur till you fight a serious court case. I did not want to believe him but now I do. Benefit of experience.

Well, till my next entry. Take care.

Your Biz Buddy,

Andy Ong

21/04/11