Daniel Ong, Jaime Teo underpay Twelve Cupcakes workers

[Lala81]

  On 12/31/2020 at 2:52 AM, Hubwee said:

What I learnt after some years of owing businesses myself is that I have learn to accept , the fact that employees will never ever think like an owner which is why there are owners and there are employees . Something I find hard to understand during the early years of my business so i managed to convince myself by thinking if all think like owners , why would these employees wants to work for me when they can be bosses themselves ...
 

Expand  

Employer need to see some of the employee's POV and vice versa.

Unfortunately communist system of co-operatives don't work well as it's highly dependent on the personnel involved.
It's easier to be friends, than business partners. 

 

[Wt_know]

employee is always employee ... like die die will take 14 days MC per year

employer is employer 

the "e" and "r" got a huge difference ...  

Edited December 31, 2020 by Wt_know

[Hubwee]

  On 12/31/2020 at 3:32 AM, Lala81 said:

Employer need to see some of the employee's POV and vice versa.

Unfortunately communist system of co-operatives don't work well as it's highly dependent on the personnel involved.
It's easier to be friends, than business partners. 

 

Expand  

Yup , this is something i have learnt over the years but most time , it's really tough lo ... 

Seen so many companies set up by close friends , childhood buddies , most end up not only losing money but the friendships built up over the years ... 

But matters with regards to money will really show someone true character ....  

[Watwheels]

  On 12/31/2020 at 2:36 AM, ToyotaShuttle said:

First you say that it is such an elaborate plan that this DO dude won't know about it so not his fault. Now you say everyone was doing it. Which is what?

Anyway, who said it is okay? Even way back from 2011, there are many people being caught and prosecuted.

 

Expand  

Cos I didnt read into the details. I thought it was recent years. Back then(2013, just to be clear, in case you cannot read again) everyone i knew was doing it. Haha...nobody said it's ok they just take it as ok. Your can read, right? Xiao didi. 

You yourself said back in 2011 ppl get caught and prosecuted, tomorrow is 2021. Things dont add up. Ppl prosecuted in 2011-2013. DO get prosecuted in 2020. Cheat ppl you need an elaborate plan, ppl arent stupid. I thought it's cheat employee wages. Not overdeclared wages. That's so long ago it's outdated.

I dunno why you are picking on my every word. What else do you want from me? I give you neh neh, want or not? Actually I cant. I'm a dude. Hahaha....

Ask me want to concede somemore. LoL....I think you need to chill and enjoy the PH.

 

Edited December 31, 2020 by Watwheels

[Lala81]

why so serious... It's the internet...

 

[Windwaver]

  On 12/31/2020 at 2:52 AM, Hubwee said:

Yes , agree that one needs to innovate to survive in the F&B business , something I did not really bother as the place I brought over was just a place I wanted to have so friends and myself can hang out whenever we want and tot it’s a pretty good idea to own a pub myself rather than spend elsewhere lo . 
 

But the hiring of locals and FW legally is really something most F&B business owners struggles with big time lo . I heard it was much easier hiring Malaysians previously ...

Business failures are common and if one can pick himself up and learn from his failures , good things will surely follow ...

What I learnt after some years of owing businesses myself is that I have learn to accept , the fact that employees will never ever think like an owner which is why there are owners and there are employees . Something I find hard to understand during the early years of my business so i managed to convince myself by thinking if all think like owners , why would these employees wants to work for me when they can be bosses themselves ...
 

Expand  

It's actually brave of you to buy over the business and life is a constant 'we win some and lose some business'.

Personally, I feel that being an employee is much easier but being your own boss is a different experience which works for some people.

Timing is super important in any business. A good product or idea may end up being a disaster if we choose the wrong timing.

Learning to accept failure is the biggest lesson I learnt trying to be my own boss which our education system fails to teach during my time.

Be it being our own boss or an employee, as long as we discharge our duties diligently (there are bad business owners too), we should all be proud of ourselves.

 

[Odyssey2011]

  On 12/30/2020 at 5:01 PM, Stratovarius said:

. .......... they don't want to hire local but locals are not as hardworking as foreigners. Don't want to work long hours and weekends. ..............That's why they mainly prefer foreigners. 

Expand  

Some organizations fall into the trap of misinterpreting employee burnout as something else: tired, disengaged or lazy employees.

There are hardworking local too. Try to enforce reasonable work hours. Prioritise people over productivity. When people are burned out, their capacity to perform is compromised.

There are always signs that it might be time to hire additional employees. High employee turnover rate is bad for business too. 

Edited December 31, 2020 by Odyssey2011

[Odyssey2011]

  On 12/31/2020 at 9:07 AM, Windwaver said:

It's actually brave of you to buy over the business and life is a constant 'we win some and lose some business'.

Personally, I feel that being an employee is much easier but being your own boss is a different experience which works for some people.

Timing is super important in any business. A good product or idea may end up being a disaster if we choose the wrong timing.

Learning to accept failure is the biggest lesson I learnt trying to be my own boss which our education system fails to teach during my time.

Be it being our own boss or an employee, as long as we discharge our duties diligently (there are bad business owners too), we should all be proud of ourselves.

 

Expand  

When the business fails,  it is always the fault for employee? or is it management? There are many reasons.... but always easy to blame the employee. 

[Voodooman]

  On 12/31/2020 at 2:52 AM, Hubwee said:

Yes , agree that one needs to innovate to survive in the F&B business , something I did not really bother as the place I brought over was just a place I wanted to have so friends and myself can hang out whenever we want and tot it’s a pretty good idea to own a pub myself rather than spend elsewhere lo . 
 

But the hiring of locals and FW legally is really something most F&B business owners struggles with big time lo . I heard it was much easier hiring Malaysians previously ...

Business failures are common and if one can pick himself up and learn from his failures , good things will surely follow ...

What I learnt after some years of owing businesses myself is that I have learn to accept , the fact that employees will never ever think like an owner which is why there are owners and there are employees . Something I find hard to understand during the early years of my business so i managed to convince myself by thinking if all think like owners , why would these employees wants to work for me when they can be bosses themselves ...
 

Expand  

F&B is a tough sector, very competitive with usually single digit profit margin and facing landlords who refused to negotiate, thus depressing pay of the workforce. Coupled with the demanding working environment (shift work, long hours, etc), who with options want to join?  When the tap is turned off, of course the manpower issues exploded but there is no turning back.

If you don't have scale (to move workers around, cheat on quota and to innovate) and central kitchen to lower cost, you can't survive for long.  Not I say one, from friends who are owners of F&B businesses, past and present. 

Better to use the money to buy REIT at 6-7% return, tax free and no headache. 

[Saabest]

  On 1/1/2021 at 2:44 AM, Voodooman said:

F&B is a tough sector, very competitive with usually single digit profit margin and facing landlords who refused to negotiate, thus depressing pay of the workforce. Coupled with the demanding working environment (shift work, long hours, etc), who with options want to join?  When the tap is turned off, of course the manpower issues exploded but there is no turning back.

If you don't have scale (to move workers around, cheat on quota and to innovate) and central kitchen to lower cost, you can't survive for long.  Not I say one, from friends who are owners of F&B businesses, past and present. 

Better to use the money to buy REIT at 6-7% return, tax free and no headache. 

Expand  

Got REIT still paying you 6-7% these days?

[Voodooman]

  On 12/31/2020 at 5:23 AM, Lala81 said:

why so serious... It's the internet...

 

Expand  

Yalor, bosses complaining of workers and keyboard warriors. Employees complaining of bosses who pay too little while changing car and buying another property every year.  Everyone is being squeezed and push to innovate and do more. Haha... 

[Voodooman]

  On 1/1/2021 at 2:51 AM, Saabest said:

Got REIT still paying you 6-7% these days?

Expand  

Got, you got balls to buy?  First REIT, Lippo Mall, Hutchison, all paying double digits.

Anyway, early this year, many bargains but there are still some, even now, just need to do some homework. Distribution may drop short term but who cares. 

https://investmentmoats.com/DividendScreener/DividendScreener.php

[Porker]

  On 1/1/2021 at 2:59 AM, Voodooman said:

Got, you got balls to buy?  First REIT, Lippo Mall, Hutchison, all paying double digits.

Anyway, early this year, many bargains but there are still some, even now, just need to do some homework. Distribution may drop short term but who cares. 

https://investmentmoats.com/DividendScreener/DividendScreener.php

Expand  

How about mid term? I think asset prices are going to adjust.

[Wt_know]

if whack 100lots Singtel at $2

next year dividend returns to $0.175 ...

that's 8.75% yield .... huat ah!  

Edited January 1, 2021 by Wt_know

[Spurman]

Start business easy.

Sustain it is the most difficult.

 

[Voodooman]

  On 1/1/2021 at 3:31 AM, Porker said:

How about mid term? I think asset prices are going to adjust.

Expand  

Lol.. I was googling asset bubble this morning. Maybe not this year, I am bullish on 2021 equities. 

A lot of the Reits are priced below book actually but yield are not as before. I have been waiting for asset price adjustment for years, while endless flow of money has pushed up asset price, inflation remains low. Guess we might really be in a super technology cycle that is inflation beating. Buy gold to hedge?

Happy to hear your thoughts. 

[Throttle2]

  On 1/1/2021 at 2:51 AM, Saabest said:

Got REIT still paying you 6-7% these days?

Expand  

I think still have but not the Oon Oon ones.

[Porker]

  On 1/1/2021 at 6:56 AM, Voodooman said:

Lol.. I was googling asset bubble this morning. Maybe not this year, I am bullish on 2021 equities. 

A lot of the Reits are priced below book actually but yield are not as before. I have been waiting for asset price adjustment for years, while endless flow of money has pushed up asset price, inflation remains low. Guess we might really be in a super technology cycle that is inflation beating. Buy gold to hedge?

Happy to hear your thoughts. 

Expand  

I'm cautious about equities (US only because I don't buy local). Prices are rising while global economic outlook is uncertain. There are a bunch who thinks recovery is in sight while others (especially the institutional investors and money managers) are cautious. I'll err on the side of caution. I see a lot of $$$ is flowing into digital infra and rightly so.