Its very sad … Covid 19 has brought a lot of uncertainty to the lives of many
- employees who is suffering from paycut and possible retrenchment or
- business owners’s whose previous business is no longer viable.
As such, they think BUSINESS is the solution. Hence, desperately looking for a new business to start.
SO, if YOU belong to any of these categories
… please STOP and RE-CONSIDER
1. Are you familiar with this business?
2. Are you just "assuming" that this is going to be a successful business? Do you have what it takes?
3. Are you investing your life savings or taking up a high interest loan for this business? Is it a good time to start investing now or time to start with some planning?
… Please don’t jump from the devil into the deep blue sea.
Alison has always dreamed about being a ballerina and having her own dance studio.
After years of saving and a loan from her family, she renovated a small studio.
It was like a dream came true when she opened the studio for business.
But little did she know that her passion for dancing was not enough.
What about marketing & promotion, customer service, getting other teachers to join her, maintaining the quality of service, accounting and statutory requirements
... all these took lots of time and money too.
Caught unprepared with limited capital, she decided to quit (after 19 months) due to burnt out.
Lost all her savings and repayment of loan took more than 5 years.
Disappointed, she vowed never to go into business again.
This is a common story among start-ups, I really do not want this to happen to ANYONE.
Hui Shan is a Chartered Accountant turned Business Coach.
She was happily employed for 17 years before being retrenched. Having lost faith with employment, she decided to set up an Accounting Services company. She was naive about starting a business. She was alone. She made lots of mistakes. She lost money and time. Eventually, she decided to quit and went back to employment to re-strategise and rebuild her finances. When she started her new company, SOHOW SDN BHD in 2006, she was more ready.
She crafted learnings from her own experiences and those of other business owners into this "Business DNA for Success" Program. She hopes that this Program can provide those who are starting a business will a structured, easy to understand and apply methodology to business success - in order that many can avoid her mistakes and those of other business owners, increase their success rate and also to speed up their journey to success.