Set up business for Noob

[Sabbie]

There has been much debate about jobs, money, cpf not enough for retirement, retrenchment, stressful jobs. Has anyone tot of starting their own business? And what advice would you have for a noobie to start up a new business. Let's assume capital is between $50K to $120K which most mid career people would have and most at risk of retrenchment.

[LoverofCar]

Take over MCF? Or be a share holder lor...

[Antonee]

totally agree work sucks ! work almost 12 hrs per day only gd thing can see sexy OLs.. Months back i was thinking of renting popiah and rojak stall when i was out of job... until now i back to my old line.. sigh

[Observer]

go f all the FLs that u have been doing...or so you claim to be doing

[Sabbie]

  On 8/3/2011 at 1:45 PM, LoverofCar said:

Take over MCF? Or be a share holder lor...

 

Is the forum making money? And if it is, why would it let me be a shareholder?

[Sabbie]

  On 8/3/2011 at 1:48 PM, Antonee said:

totally agree work sucks ! work almost 12 hrs per day only gd thing can see sexy OLs.. Months back i was thinking of renting popiah and rojak stall when i was out of job... until now i back to my old line.. sigh

 

What's your old line?

 

I see alot of Gong Cha and Koi Outlets, why not you franchise one?

[Sabbie]

  On 8/3/2011 at 1:50 PM, Observer said:

go f all the FLs that u have been doing...or so you claim to be doing

 

That's a losing proposition

[Watwheels]

Maybe 20~30 years ago still got chance with that kind of capital. I recall got a successful local entrepreneur(some old uncle) say this before on newspaper. He said young ppl have a tough chance starting a business today. I read that many years ago. So you can imagine now lah.

 

To be honest, I have some "mid career people" tell me the same thing and they dun know each other, they told me that they have the heart but dun have that kind of energy. And almost all of them became cab drivers after that. That's the sad thing about it.

 

You can probably follow what many ppl are doing that's to setup business online but dan too many are like doing the same thing which is retail, sell women clothes, shoes, accessories etc. They can sell it a lot cheaper cos they dun have to pay the hefty rental. They only pay for postage and domain space. Not easy to stand out, unless you are one of those who started early with this idea.

[Sabbie]

  On 8/3/2011 at 2:19 PM, Watwheels said:

Maybe 20~30 years ago still got chance with that kind of capital. I recall got a successful local entrepreneur(some old uncle) say this before on newspaper. He said young ppl have a tough chance starting a business today. I read that many years ago. So you can imagine now lah.

 

To be honest, I have some "mid career people" tell me the same thing and they dun know each other, they told me that they have the heart but dun have that kind of energy. And almost all of them became cab drivers after that. That's the sad thing about it.

 

You can probably follow what many ppl are doing that's to setup business online but dan too many are like doing the same thing which is retail, sell women clothes, shoes, accessories etc. They can sell it a lot cheaper cos they dun have to pay the hefty rental. They only pay for postage and domain space. Not easy to stand out, unless you are one of those who started early with this idea.

 

Yup, you are quite right, I do have some ex-colleagues who started blogshops and became successful and now got 2 brick and mortar stores but this is after they establish their brand. The other business viable now I think is doing apps for smartphones but I dun have the knowhow....

 

The others I can think of are bubble tea franchises, tuition and enrichment centres eg kumon....

[Yewheng]

  On 8/3/2011 at 2:19 PM, Watwheels said:

Maybe 20~30 years ago still got chance with that kind of capital. I recall got a successful local entrepreneur(some old uncle) say this before on newspaper. He said young ppl have a tough chance starting a business today. I read that many years ago. So you can imagine now lah.

 

To be honest, I have some "mid career people" tell me the same thing and they dun know each other, they told me that they have the heart but dun have that kind of energy. And almost all of them became cab drivers after that. That's the sad thing about it.

 

You can probably follow what many ppl are doing that's to setup business online but dan too many are like doing the same thing which is retail, sell women clothes, shoes, accessories etc. They can sell it a lot cheaper cos they dun have to pay the hefty rental. They only pay for postage and domain space. Not easy to stand out, unless you are one of those who started early with this idea.

 

Start slowly with facebook advertisement lor..

[Sabbie]

Bo Lobang huh....no businessman here? all professionals and employed?

[Rainbowbiatch]

  On 8/3/2011 at 2:00 PM, Sabbie said:

What's your old line?

 

I see alot of Gong Cha and Koi Outlets, why not you franchise one?

 

bubble tea is a one off novelty..

it wears off aft 2-3yrs.. so u make sure u earn gao gao during this period..

 

long term i always believe is setup kopitiam.

everyone needs to eat.

and almost everyone eat out.

[Sabbie]

  On 8/4/2011 at 2:18 AM, Rainbowbiatch said:

bubble tea is a one off novelty..

it wears off aft 2-3yrs.. so u make sure u earn gao gao during this period..

 

long term i always believe is setup kopitiam.

everyone needs to eat.

and almost everyone eat out.

 

Yup, it worn off but now it's back again, koi and gong cha so popular now....kopitiam yes i believe so, but nowadays coffeeshops easily a few million if you want to buy over one...bo lui la, or you wanna lend me?

[Rainbowbiatch]

  On 8/4/2011 at 2:28 AM, Sabbie said:

Yup, it worn off but now it's back again, koi and gong cha so popular now....kopitiam yes i believe so, but nowadays coffeeshops easily a few million if you want to buy over one...bo lui la, or you wanna lend me?

 

economy will crash soon.. wait lo..

 

or when u go discuss lease tat time, flash ur VS lai sah.. sure can give u good price.

[Icedbs]

  On 8/3/2011 at 1:10 PM, Sabbie said:

There has been much debate about jobs, money, cpf not enough for retirement, retrenchment, stressful jobs. Has anyone tot of starting their own business? And what advice would you have for a noobie to start up a new business. Let's assume capital is between $50K to $120K which most mid career people would have and most at risk of retrenchment.

 

Run your own trading biz like me.

 

So staff to manage, no big overheads, all you need is discipline and hard work...just like any otehr business owners.

[Sabbie]

  On 8/4/2011 at 2:30 AM, Rainbowbiatch said:

economy will crash soon.. wait lo..

 

or when u go discuss lease tat time, flash ur VS lai sah.. sure can give u good price.

 

you think so? if so I may wanna sell off my last 40K in the market....the problem is when economy crashing everyone scare of losing their jobs and wun dare to invest...

 

Discuss lease must bring you along and distract seller with your D cup longkang

[Ahtong]

  On 8/4/2011 at 2:14 AM, Sabbie said:

Bo Lobang huh....no businessman here? all professionals and employed?

 

If people really have $$$ making lobang, do you think they will really share it with you?

 

 

[Sabbie]

  On 8/4/2011 at 2:33 AM, Icedbs said:

Run your own trading biz like me.

 

So staff to manage, no big overheads, all you need is discipline and hard work...just like any otehr business owners.

 

Trading should be run like a business, however only 1% of traders made it, I am only at the 90th percentile, don't think I can make it profitable consistently although overall in the past 5 years I never lost money