Job stability is an illusion for most

[Nutsack]

Had to say this after reading a thread about the rich and poor in our nation and how education affects your chances of ending up in either state. My controversial but honest take...

 

Education is just safety chute. If your main parachute doesn't open, at least you have a safety chute to depend on. But whether or not your safety chute works the way you want it to is another thing.

 

One thing MUST be said. Working for others is one of the worst ways to try to become rich. It is statistically proven - throughout the developed world - that being your own boss increases your chances of making big bucks.

 

Of course being your own boss carries greater risks than having a "stable" job. I say stable with quotation marks because I believe that that stability is only an illusion for employees cause I believe you can't really be safe when your financial well-being depends on someone else other than you.

 

Right now I'm at it on my own. I'm at the beginning throes of my start-up and I know i'm burdened with a high level of risk as compared to my peers who graduated with jobs. I've had friends and family tell me things like:

- "You've got good overseas qualifications, studied more than most people sure can get high starting pay one. Why go risk it?" (My housewife auntie actually told me this).

- "Just get a stable job first. Think about business ideas later. Don't rush into things when you're young." (Friend)

- "Most businesses fail one leh. So many friends I know failed already. It's very hard to make these days esp in Singapore (Friend #2)

 

I never took their advice. Why? They're all employees. Why would I take business advice from people who never tried to start something on their own? Some successful relatives and friends who own business say very different things when they hear about me starting out on my own:

- "Starting business? Mmm. Good. Must work hard." (Uncle to owns a few market stalls with pri sch education, but now owns landed property with 3 cars).

- "It's going to be hard. Most important thing is you must have focus." (Another uncle who's doing quite well.)

 

You can tell the difference in attitude. One play safe, okay can oredi. The other side's realistic about how hard it is but never say "don't try".

 

My philosophy is: I'm young now. Got significant savings and money from good decisions when I was a teenager. So I must give it a shot. If I fail, i've got my education and youth. May not do as well as peers but I won't starve.

 

Sad thing is, in the past people had less education and hence less to fall back on. But they were so much more gutsy. Today? So many of my peers are graduates but they've lost that go-for-it attitude (i partly blame our country's lack of safety nets for this).

 

And my opinion to others who snigger at me when I don't do well (IF things don't turn out the way I hope)? I dare to try. I'll never have to say "if only..." when I'm older. If I fail, i'll try again. And again, and again, until I know time's running out and money's all gone.

 

Money isn't everything to me. It's whether I dare to try to be as happy as I can be. If I end up as an employee ten years down the road after failing, I'll still be happier than if I never tried at all and end up working in an office anyway even with higher pay.

 

So if you wanna make it rich, start out on your own. If you're working for someone else, chances of you being rich is very remote. And your job is not truly stable because you being employed depends on another person. If you throw a stone into a crowd of wealthy folk, chances are the person you hit owns his/her own business.

 

 

 

 

[Headshok]

hey man

 

how old are you? just grad?

 

I just grad in dec last year, in the midst of the sh1t storm.

 

grades are pretty much crap, b4 that was doing my little small biz selling stuff ( ICE pple should know me) and ventured into manufacturing small time ( very very limited capital).

 

Once i graduated, i registered my company and went all out.

 

got played seriously by one singapore company who was so called " interested" in what i had to offer, taking advantage of my youth ( but i got experience in OEM manufacturing, u cant bluff me) to try and wack price down and at the end, offer me a stupid quantity( of cos cannot deal). These pple are disgusting liars and i have lost all respect for them.

 

then in May, i lost another major deal in the US ( OEMing deal), worked for 3 months to get the deal, lost it last min cos company backed out last min.

 

was devastated, went into hiding for 2 weeks to pull myself out.

 

june i decided to look for a job as cash was running low and still try to run my biz on the side.

 

couldnt even get an interview. I didnt even put down my expected salary ( just wanted an interview ), only pple who called me were insurance companies.

 

every day just sit in front of com send out resume and wait for the phone to ring, got fed up, took out all my collection of ICE stuff ( i collected some high end stuff over the years) and sold them off to raise capital. Also i met someone who inspired me to step out of my comfort zone and go all out.

 

I just launched my product line in the US, having talks in europe and Australia. So i'm just crossing my fingers that things go smooth.

 

Currently things are still #@$#@$ tough, nothin is stable, but i'm hoping things just go smoothly.

 

Deep down inside, ironically i yearn for a 9-5 job with a satisfactory pay, instead of having to crack my balls everyday on my next move :(. but i just hope all this will pay off.

 

anyway dude, thanks for sharing :)

 

 

Cheers!

 

 

 

 

[Ngck]

Get rich or die trying.

 

Good luck to you my friend.

 

Hard work and some element of luck is needed

[Cheeze]

Good for you then. At least you know what you want.

 

Do not forget the fact that different people crave different things. Some crave stability, others excitement. As long as you are comfortable and contented with whatever you are doing, be it sweep floor, clean table, make kopi, you will be ok.

[Cheeze]

hey man

 

how old are you? just grad?

 

I just grad in dec last year, in the midst of the sh1t storm.

 

grades are pretty much crap, b4 that was doing my little small biz selling stuff ( ICE pple should know me) and ventured into manufacturing small time ( very very limited capital).

 

Once i graduated, i registered my company and went all out.

 

got played seriously by one singapore company who was so called " interested" in what i had to offer, taking advantage of my youth ( but i got experience in OEM manufacturing, u cant bluff me) to try and wack price down and at the end, offer me a stupid quantity( of cos cannot deal). These pple are disgusting liars and i have lost all respect for them.

 

then in May, i lost another major deal in the US ( OEMing deal), worked for 3 months to get the deal, lost it last min cos company backed out last min.

 

was devastated, went into hiding for 2 weeks to pull myself out.

 

june i decided to look for a job as cash was running low and still try to run my biz on the side.

 

couldnt even get an interview. I didnt even put down my expected salary ( just wanted an interview ), only pple who called me were insurance companies.

 

every day just sit in front of com send out resume and wait for the phone to ring, got fed up, took out all my collection of ICE stuff ( i collected some high end stuff over the years) and sold them off to raise capital. Also i met someone who inspired me to step out of my comfort zone and go all out.

 

I just launched my product line in the US, having talks in europe and Australia. So i'm just crossing my fingers that things go smooth.

 

Currently things are still #@$#@$ tough, nothin is stable, but i'm hoping things just go smoothly.

 

Deep down inside, ironically i yearn for a 9-5 job with a satisfactory pay, instead of having to crack my balls everyday on my next move :(. but i just hope all this will pay off.

 

anyway dude, thanks for sharing :)

 

 

Cheers!

 

I admire your courage...I wasn't as steadfast as you currently are. Again, as long as you know what you want, am comfortable with it, I say stick with your guns. Dun lose focus.

 

But do also remember if you thing it's time to quit, quit. The trouble is that some people do not know when to quit from fear of being seen as a failure. To me, failing is ok, it is normal. It is how you react to the failure that makes the difference.

 

[Nutsack]

I'm in my late 20s. Graduated late last year too. few years undergrad, couple of years postgrad.

 

never bothered trying to search for job. had some offers but didn't bother.

 

since Jan been working on business ideas. For past few months since March been working on my business. So far everything very smooth. Been very careful.

 

In all, gotta say you gotta be quick-witted and aggressive. That strategy paid off for me. Not been swindled or taken for a ride so far, save for a few instances of people who are inefficient, stupid or both. I hate stupid people. But sometimes you need slow people to get certain things done.

 

Good luck dude. Strive on.

[Nutsack]

Good for you then. At least you know what you want.

 

Do not forget the fact that different people crave different things. Some crave stability, others excitement. As long as you are comfortable and contented with whatever you are doing, be it sweep floor, clean table, make kopi, you will be ok.

 

Yea. But it seems a lot crave wealth and fame but never decide to do anything to try to take it.

 

[Watwheels]

Easier said dan done. Unless you have a rich dad to supply you with capital to start up business....talk is cheap.

 

From what I know, you must not be afraid to fail & fail again(provided you have lots of $$ to do that), not afraid to loose face, work so hard that you have little or no social life.

 

I have know ppl who initially work for ppl(cos no capital) to save up and start business until like when they reach their mid 30s before they so call strike it out on their own with their own capital. There are times that they fail, pick themselves up, try again and that was in the mid to late '80s. Today it's even tougher.

 

 

[Wind30]

I'm in my late 20s. Graduated late last year too. few years undergrad, couple of years postgrad.

 

does the postgrad helps in your business? why the decision to do postgrad?

[Jadeband]

Not all people are cut out for business. I find it especially true to many singaporean, maybe its our educational system?

 

i always encourage younger people to first try working for few years, find out which line of business you are good at or have interest in, then try to find opportunity to start on your own. Easier said than done though.

 

I for one, have worked 10 years for a local company. The hammer fall when company decide it has become too taxing to pay me. i was forced to leave.

 

i dont know what else i can do after spending 10years in my work...worse, company threaten to sue me if i continue in similar trade (well, i sign an agreement 3 yrs after resigned not to participate in any conflicting business.) Anyway, got that settled through a lawyer. i started on my own for past 5 years, never look back since. I am also not a business person in nature. But i believe given hard work, sincerity and some help from people, it is always good to try it out on your own. And yes, do it while you are young, it will be tougher when you have family commitment, older and more difficult to adapt to new environment or simply too comfortable in your current situation.

 

 

 

 

[Watwheels]

It's not the thing about Sgporeans. It's about taking a big risk. If you succeed with your business, good for you, but ever thought of the result of failure? Let's say you spent 3 years struggling to setup your business, by dan your peers have established their position in their companies, and lets say you failed and return to working for someone dan you are 3 years behind and gotto start more or less from scratch.

 

Worse scenario your peers might be your supervisor if you both work in the same company. Can you swallow your pride to continue working there?

 

[Maroon5]

working for pple can make some rich....but majority will stay poor...increments hardly matching the inflation and its a vicious cycle, the average ones jus keep getting drawn into protecting ones turf rather than progressing the corporate ladder...

 

but one pt is very valid, speak only to like minded pple becos if u speak w non minded, they wil jus put ur ideas down with their myopic views n exposure..

 

good luck...its a very good step...

[Skunk]

Life, in the first place, is dynamic and ever-changing.

 

"Job stability" is and was and will be, an illusion only the naive kid themselves. Accept this fact graciously. The moment you are comfortable with Change, itself, then you have found your own Stability.

 

What's the hoo-ha about bring an "entrepreneur"? Most never ever strike it really really rich. And there's not much difference between and employee and an employer. An employee has one/a few bosses, an employer has many many "bosses", each customer is a "boss".

 

As a person who has dabbled in business, it's an illusion that generally life gets better the moment u employ yourself. Generally, there's no difference, just a different cup of tea.

 

I would rather be a well-paid employee than a mediocre employer.

 

My advice, if u care for it, would be to stop wasting your brain juice thinking these philosophical questions and channel your energy doing the daily grind better.

 

Cheers.

[RadX]

I add on to skunk.....be contented and happy with what you do.

 

No point getting rich when at the end of the day, you have to spend those riches to stay healthy.....

 

Better to live happy, with family and friends and have a good night's sleep than worry abt making that next million

[Konken]

Hey dude, I totally agree with what u written there. I was there myself and done one cycle. Now preparing to do it again.

 

I was retrenched in the 2001 crisis after working for 4 years with a Jap MNC (1st job after grad in 1998). Bumped around 3 months with no hope in sight, started my own engineering and design svc co. Did a decent job for the first yr before merging with one of my suppliers hoping to pool resources and facilities so can do better. Did well initially but not as fantastic or faster growth as I hoped. One major customer came along looking for vertical integration - acquisition. Discussed with my partners and decided to sell if after due diligence, the offer price is good. Later one partner got cold feet, the other cannot decide, I was like WTF, after months of preparation they want to pull the plug? Things start going down hill from there. I left, deal did not go thru, I ended headhunted by that customer. Worked 2 yrs with them and another 2 yrs+ with current employer.

 

Yes, I was partially disillusion with biz life at that time because of all the challenges brought about by stupid people (partners in my case). But on hind sight, it was good lesson! Good friends do not necessary translate to good biz partners. Age gap and the way each rationalize is crucial. If partners cannot synchro, it is each better off on their own.

 

Now coming to 5 yrs break and with some savings put aside for family, I am ready to make a come back again....

[Holohide]

When I graduated:

 

Got education loan to pay.

Need to help support parents.

 

How to strike out on my own?

[Topaz]

Sometime, when u being with nothing and when u have nothing to loss u go all the way out. Many people have family commitment and can't afford to fail n so holding down a regular job is the safest way. Then again, when ur young n have some capital, no commitment, y not start ur own business... it may b the best move

[Holohide]

For some, its not about being rich, its about providing for those that matter, as such, a risk adverse approach is preferable.