It’s been a chaotic week for me this week. My sis and dad recently told me that other companies are asking our company to venture beyond Singapore, namely: China and Dubai. No doubt this is a great opportunity for our company to venture into unknown horizons and strike it big. Our company is rather well known for our quality work and timely deliverables thus the background is already strong. However in the past, I always thought that being stuck in Sg, the construction business will not be going anywhere. My dad reluctance for me to go back to help him further de-motivate me to go back. Now, don’t get me wrong, my dad do not want me to follow his path to success as it is a very long and painful process. 24/7 hour work timings is normal for him and he really need to slog it out entire life for his sweet success now. That’s the reason on why he encourage me to venture to Australia and get my PR. Now that I got my PR, got a decent job and a possible promotion in the near future in hand.
I am stuck btw a decision which will determine my future life.
1) Stay in Perth
2) Go back Sg help with family business
Scenario 1
If I stay in Perth, no doubt I live comfortable with enough to spend. Of course, do not anticipate high life like what I am used to back in Sg. The income will be stable and consistent. The working hours will be normal and stress level will be likely average. However, I will be working under others and no matter how hard I work, I am still just an employee. I need to fly around if I am promoted as well which really adds to the stressed too.
Considering the fact that I am away from my family also, so this is really a minus point.
Scenario 2
If I go back Sg to help, definitely, I will be slogging for the first 3 years or maybe rest of my lifes. Working 7-7 Monday to Friday and Saturday 7-5 (Basic Hours) and some OT really is a big contrast to my current life. I will be taking pay cut too as I will be starting from the lowest level. However, this is only the starting phase which I must learn in order to gain respect and skill to command others. Being back also meant I will be near my family and my friends.
If our venture is successful, I guess I will fulfil my dreams of being a successful biz man and who knows, I might be able to retire early if permitted.
I am really being torned apart by this 2 scenario now. I don’t mind hardship, I don’t mind low pay if its my own company but I guess I do required support from my dad who seems to disapprove of Scenario 2. I guess I am just a whiner now. People been telling me that I am smart for getting high academics results or is highly adaptive to environment, but to me, now I am a failure. I guess I shall wake up my idea and come out with a decision soon.
6 comments:
dad wants u to have a simple and gd life..and not let u slog to enjoy the later success coz he loves u and dun want u to go thru the hardship.
whereas on the other hand i think he will also wish that u were by his side to fight this war alongside him and be there for him when he is old..but he is urging u to go AU coz he wants u to pursue a better life, a life of ur own instead of him being selfish..
Sern Wei, this is ysf, yr cousin...
My honest opinion:
Before the company can strike it big first, two management problems it must get rid of are 1) autocracy and 2) lack of transparency.
(I advocate western management and not family business management.. Key is invest in talents, have a proper board of directors meeting to seek approval from all shareholders before any decision is made...)
Construction is hard to succeed in Singapore. Vietnam, Laos and Cambodia are good places for you to explore the construction sector if your dad is interested. China's property market is too saturated unless u go to northwestern, rural area of China. Dubai is quite a good place too but it's way too far and culture wise is way too different... Vietnam is a good place to invest in property if u interested...
But if yr dad plans to expand construction into overseas, going alone is unlikely to succeed. Need to bring in a consortium of companies who are willing to form alliances and bring Singapore's advanced construction expertise to developing countries... but to achieve that is NOT easy...
My CCA is NUS Business Incubation Of Global Organisation where my organisation aims to provide platforms for aspiring entrepreneurs to network. My CCA organisation has numerous networks in China, Indonesia, Vietnam as well and we are trying to expand overseas into a global student organisation.
Sern wei, u do not really need to stick to construction sector if u wish to expand yr family business. Traditional business like property estates are hard to succeed nowasdays.
My suggestion:
Venture into a technological field. Technology commercisation will be the key to creating wealth in future. (Esp the fact that Singapore's govt is investing lots of money into R & D) Asian markets will be the key growing economy and having networks in western countries are good because you are the connecting bridge to bring western technologies to asian.
That's the reason why I decide to go sweden to work in a biotechnology start up on medical device.
Nowasdays, doing business is very different from what our grandfather and fathers' times.... Need skills to raise funds from EDB, Venture Capitals and write business plans as well... And, most imptly, VISION to dream big.
Sern wei, since u major in IT, I have several friends who work in Silicon Valley on IT start-ups before. If you interested, I can introduce them to u next time. Silicon Valley is America's top entrepreneurial hubs.
(Anyway, my dad and I don't expect much of having a good retirement from family business... I am also trying to push myself hard to find opportunities, hopefully, I can give my dad a better life too...)
These are my humble and honest thoughts... Shld have shared with u long ago...
Sern wei,
Just to add on:
If there are other companies asking yr dad for a venture, need to assess:
1) The reliability and reputation of these companies
2) How these companies complement one another's strengths and weaknesses. (e.g. what they gd at and how can we reduce costs together...) That voice back to the strategic alliances to form company consortium that I mention in earlier post...
3) Etc
The key thing is use labour from the host country because it is cheaper but bring in some of your best supervisors to these host countries.
Our company got several experienced supervisors who are very skillful in tilings such as Michael, Ah di and a few others whom I forgot the names...
They are VERY VITAL to our company's survival so must treat them well. Last time when i visit construction sites with my dad, I managed to chat with some of them... We need to give those supervisors' more empowerment yet give them more responsiblity and be accountable for their actions. If company needs to survive in construction for the next generation, we need to develop more local talents with managerial skills like them. Developing talents for foreigners are hard because there is a limit to how long they can stay due to their work permit reasons. Problem is youngsters who want to enter construction sectors are very rare... and these supervisors will retire someday too and they will be relundant to venture overseas because of their age...
Another possible expansion is to move upstream into construction technologies. And, the key is to hire talented civil engineers and architects to probably help design construction building. Of course, tiling business can remain...
Vietnam is REALLY a very good place to expand construction sector if yr dad is interested; much better than China or dubai in my opinion. At least, vietnamese are not that cunning compared to the Chinese.
The NEXT big word in construction is how to turn construction into a LEAN operation.
http://www.leanconstruction.org/
Lean was first practised by Toyota for car production. Famously known as Toyota Production System (TPS). Right now, lean has gone beyond production, including construction.
Our company does have good reputation. Construction operation is quite good by Singapore's standard but still far from being called a truly lean operation. Cast that aside, being a family business poses even more problems...
These are my humble analysis - hope that helps....
(Of course, all these thoughts I have discussed with my dad before... but we both know it's nt easy)
Sern wei,
Don't worry too much. You are not experiencing any failure. It's just that life is difficult to reach the perfection or ideal state that we want.
I wish u all the best. Just follow your heart and what your aspirations are. And, of course, discuss the matters with yr wife.
I hope to see u back in Singapore next time and prob we could play some poker again during Chinese New Year.
Take good care...
YSF
Well cousin~
I agree with u... well i am interested to know more friends~ so you can intro them to me whenever you wants~
for now, i wanna stay in perth, build up my capital, experience and contacts then i will venture with something.
My future aim is to be a investor who can retire with the correct money generation investment~
Sern wei,
Anyway, whether to stay in Perth or go sg, i admit it's a tough decision. But anyway, glad you sorted out yr own decisions. So, all the best for u...
Jia You in carving yr career in Australia.
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