It was SHOCKING NEWS!!!
It’s still very clear in my mind…. the announcement of my retrenchment.
… It ended my employment of 4 years. I was given 2 days to pack and leave. Compensation … just 1 month of salary …
It was a moment of anger, frustration and betrayal.
It was the started of an 8 years legal battle against the organisation.
It was a turning point in my life.
I lost faith in employment
BEFORE … like many working class families, I believed that if I study hard, I will get a good job. If I work hard, I will be rewarded. If I work in a big organisation, I will have a secured lifestyle.
NOW… I realised that I was totally wrong.
How can employment give security to anyone when organisations are constantly changing – change in management, corporate vision, product life cycle, technology, economy, regulatory and ext… ect. Something that is constantly changing cannot offer stability.
Since change is the only constant, then I need to ”master” change … in order to have stability.
I took the plunge to start my management consultancy firm and later went into training and coaching.
My Business Journey
It had been 11 years since I started my business. I met lots of business owners. I made lots of mistakes, also learned a lot during this period. It has been an interesting journey with more to come ….
My 3 greatest learning about my business is …
(1) Working hard in not good enough. I need to work hard in a smart way.
I am good at delivering results but marketing and closing sales was tough for me. Driven by my own determination … I emailed more than 200 letters before I got my 1st engagement. I did not focus on leveraging on others. I provided a service that I “thought” my prospects needed but I did not confirm that. I was driving my business based on my own assumptions. I focused on activities, but not on results… working hard but not smart. It was tough times. I remind myself that I will do things differently, if I can turn back the clock.
(2) Need to focus on being a specialist, instead of a generalist.
As a management consultant, I have a certain level of expertise to handle finance, human resource, admin, IT, operations and other management related areas … but I was definitely not an expert in any area. I believe if I had position myself as an expert in just one area of expertise (e.g. Sales Coach for new business startup employees) and to progressively work towards improving myself in this area … I would have been much more successful in a shorter period because my energy will be more focused in terms of personal development. It would also be easier to market myself.
(3) Stop thinking as an ’employee’ and start thinking like an ‘entrepreneur’.
Despite being a business owner, I was still “thinking” like an employee. I was thinking … if I can doubled my income as compared to my monthly salary, I would be happy. I was thinking small, acting small, getting okay results but not great.
Imagine, if I had a mindset of wanting to add another ‘zero’ to my existing income and kept working towards achieving that goal, I am sure the outcome would have been very different now.
What else I would do differently … (will share in my next post)
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