RESUME FOR CAREER CHANGE: OWNING AND MANAGING YOUR OWN BUSINESS

Resume for Career Change: Owning and Managing Your Own Business

 

Have you ever wondered why some 16 200 new businesses were founded in Singapore during the first quarter of 2014? Of these, 35.2% were sole proprietorships and 48.4% were private limited companies. On average more than 56 000 new businesses are registered each year in Singapore.

More and more working professionals are facing and experiencing greater challenges and career volatility in their work places. Job security seems elusive and, to put it bluntly, doesn't exist anymore. Hence, more and more salaried professionals with entrepreneurial acumen are switching and turning to owning and managing their own businesses instead of working for their ‘bosses’. Is this a better alternative? Bear in mind, it’s your future and your financial security that you have to be mindful of. Your decision has tremendous ramifications and impact on your life.

Years ago, when I wanted to leave a cushy, corporate career with a publishing conglomerate and was scouting for a similar role elsewhere, my closest confidant and printing shop owner pulled me aside and told me straight in the face, “Larry, I know you earn a good salary but it doesn’t matter because you’ll never build real wealth from it.” That sent me thinking real hard, consulted my family and realised that the answer to creating and building real wealth is “OWNING AND MANAGING MY OWN BUSINESS”. I did just that and never turned back.

There is no bed of roses for anyone who wants to take this route. The roots of the business tree are long and bitter but the fruit is absolutely sweet. There are opportunities and opportunities out there waiting for you. I am not talking about the Bill Gates, Steve Jobs or the next-generation-tech start-ups. They are not your average entrepreneur. Instead, consider resume writing, food and catering, hair-dressing, fashion design, private education, personal/human services, electrical and plumbing services and the list goes on.

Most, if not all, small business owners make their money by dramatically increasing their net worth on the path to the one-million-dollar mark. Once you hit this magic figure, you will find investors knocking on your door wanting to buy over your business. This is where the real wealth is.

Most recent sales of businesses in Singapore include: automobile dealership: S$300 million, tuition chain: S$300 million, coffee shop in Hougang: S$23.8 million, Chinese restaurant: S$15 million, roast meat joint: S$4 million

Owners of these businesses are now millionaires – enjoying real wealth! They were mere salaried professionals before. Can you see the difference now?

Article by Lim Larry, M Phil (Management), Chief Executive, Co-Founder and Consulting Principal, Successful Resumes Singapore

Learn more … www.successfulresumessingapore.com