On Friday 23rd March 2018, as we were cabbing home from IKEA Tampines post date and shopping (yeah, we’re kinda boring in that sense lol), the taxi driver started sharing with us and encouraging us to take up entrepreneurship.
It was interesting.
He said stuff that includes:
What’s the point of becoming a highly-salaried manager? They’d work you more than your salary’s worth, and by the time you get home, you’d be dead tired.
When you are young/younger, and have the energy, quickly go out and build your own business. Go for it, and do not be afraid to work hard for something you own.
If and once you have an influential person or organizations behind you, a lot of things becomes easier. An example is if you have a rich and power uncle behind you, and you need and overdraft facility – often it’s just a phone call that makes things move.
During my time, when I was just about to launch my business, I went to raise funds, and I was so shocked when CBRG provided me with $500,000 to start and grow my business. Look for funding if and when you can or need.
Angel investors in my opinion aren’t really mentors – they’re just gentle investors. If you’re looking for mentors, really look for mentors.
Singapore’s setup and stance is very good and supportive of entrepreneurship, so maximize your opportunity.
If you need to control your cashflow in the early stages, go with a bank’s factoring service (Note: what this means is that banks can provide you with liquidity service – for a fee, usually a percentage – of your projected cashflow. This is useful to ensure that you have consistent cashflow that your business needs to survive.)
In the early days of the business, it’s just about survival. Keep your cashflow tight. Remember, in the first year, 70-80% of startups die. In the second year, 50-70% of those that survived die – so your main goal in the first few years is to keep the business alive and going.
Now what I do is teach and encourage my grandchildren to be entrepreneurs. All four of my children are business owners. You need to teach them the life, way, approach and reason of entrepreneurship.
What a blessed time to receive this, as I phase and transition out of my decade-old rehab business that was acquired end of 2014.
Table Of Contents
MY REAL REASON FOR ENTREPRENEURSHIP
There are so many upsides to entrepreneurship, now that I look back at my entrepreneurship adventure that began in 2008 (of course, the idea started manifesting earlier in a few select memories that come to mind from my early days.)
It has taught me so many skills and provided me so many life experiences that a regular life doesn’t bode the same to me.
I love entrepreneurship, and more importantly, the freedom that came with it.
Entrepreneurship to me, is a lifestyle and a sense of freedom (of course it must make money and provide good value to clients, not just in name).
JOIN ME IN INTUITIVE, LOVING, GENTLE AND GOOD SUCCESS AND SELF MASTERY THAT ACTUALLY MATTER. NO HYPE. NO BULLSHIT.
Hang around here for some time, you’d see that I don’t well with hype or bullshit. I can smell that typically a mile away, and I hate that shit too.
I’ve been working on myself and on NigelChua.com for years, since 2006, and only in late 2019, I started to focus on intuitive and loving leadership, entreprenership and personal development.
Here are some areas that I work on a consistent, ongoing basis.
See the Tools & Resources I use to improve my life, businesses, health, build passive income and more.
The core topics I cover in NigelChua.com is:
- Eternal life and salvation: Jesus Christ is the Way, the Truth & the Life
- Fix your health: get healthier, live longer, run faster, more energy, fuck more
- Passive Income Lifestyle: Become financially secure by building assets that provides multiple streams of passive income that’s more than your living expenses
- Personal Loving Relationships: Attract, build and grow relationships you love
- Philanthropy: giving to the poor and needy
- Philosophy: Conscious, purposeful and positive living
- Productivity: How to become more efficient and productive in important things. Mastering them causes you take less them whilst increasing productivity.
- Insure yourself and your loved ones (Health insurance is important)
- Add-on Adventures: Become rich and wealthy
- Add-on Adventures: Build businesses that add positive value to your society and life
- Success Principles
Take action TODAY: One year from today, you’ll be one year older. What would you have done by then?
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
Where To Next?
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- I recommend everyone to learn to start an online business for so many reasons: low cost, valuable skill (marketing), potential for passive income, it works 24/7 for you and no income ceiling. There's a free membership at this platform which I'd been part of since 2015 and it's where I learnt how to earn my first $100 online. See you on the inside.