I am sure many of you out there must have thought about achieving financial freedom, if not why invest?
In my opinion, another way to achieve freedom (in addition to financial freedom) is to set up your own business.
Frankly, many big business start from really small start ups. For example in today's Life section, it talks about Mr Eldwin Chua, 32, a former Zi Char cook who now owns 8 restaurants including the $4 million taste Paradise at Ion Orchard. But we must also remember that route to success is never easy, and statistically, the odds are against us as 80% of companies will fail within 5 years of start up.
However, this should not deter us from trying. If solely based on this statistics, it means that if you own 5 business, at least one will continue after the 5 years! And like investing, a multi-bagger stock can potentially recoup all the losses from other stocks and give you a massive returns! The upward potential is limitless. (Not an accurate way of reading the statistics, but we should always be optimistic)
Therefore I am urging all those who have ideas and would like to pursue it to drop me an email at NTUchartist@hotmail.com .We can discuss it through and see how it goes from there. But I can assure you that you will have 100% of my commitment, but I also expect the same from you.
3 comments:
A business is definitely a good idea.
But not many people have the financial means and talent to do it.
Some businesses do not really need much start up capital.As for the talent, unless you have tried, you will never know.
It is true that the 2 points are large obstacles to starting a business. But I think most of the time, it's the fear of stepping out of your comfort zone, especially if it is a really really comfortable zone.
Sounds like a great idea to me.
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