I often advise young people who consulted me at the veterinary surgery regarding their pet's health to create (some products or services) so that they don't become poor when they are retrenched. I advise them not just surviving day to day by earning a livelihood as an employee. After work, they spend money on consumer goods and waste their youth enjoying.
How do you do it? I wish I have the answer for you.
As I watched the youths strumming their guitars and beating the drums intensively gazing on the LED screen to the songs in the Guitar Hero World Tour games, I remembered reading about the founders of Guitar Hero. They were two undergraduates (I think) who had created this concept and made it work. They must be very rich now as Guitar Hero games are reported to have sold 23 million units and earn US$1.6 billion in retail. As you can from the pictures, Guitar Hero resonates with the young as they become instant rock guitarists, drummers and singers without having to take lessons.
Create based on their strengths and the needs of the Singapore or global market. See how you can make use of the internet to create your product or services.
I can only provide some examples from my reading of the successes of other people.
Translation services. An English literature graduate in Singapore with a sound knowledge of the Korean language will research into what are needed by the Korean and Singapore consumers. As an example, there are successful people who provide a translation service online successfully.
Real estate services. As an agent, there is little capital involved unlike a real estate investor. Some months ago, I had an old house in Yio Chu Kang. I had this concept of renting it out short term to Myanmar nationals who come to Singapore for jobs and want cheap rentals. It would be too expensive to renovate to compete with the new condos and houses. I spoke to a Myanmar lady who wanted to start her own business and get away from being a salaried veterinary technician working for a Singapore vet.
"No Myanmar people will rent the house as it is too far from the subway," she knew it took about 30 minutes to walk to the subway. "They rent HDB rooms near the subway."
Since she had no better business, I proposed collaboration. She did not need to pay rentals or anything to me. She was to manage and market the property to her country men and we split the net profits in the middle. Some 6 months later, Shirley has more clients than she could accommodate and her net income was around $2,000 to $3,000. To Singaporeans, this amount might mean peanuts. When you consider that the graduate in Myanmar earns less than $300 per month, this amount is large.
"You and your husband must have thought I was nuts when I talked to you about the concept," I asked them yesterday. They nodded their head. Two of their friends started the same business but even with this sub-prime mortgage crisis, Shirley still has tenants keeping her busy.
Then I spoke about another business concept appropriate for her. There were a handful of tour agencies marketing Myanmar tourism in Singapore.
Why not market Myanmar tourism to Buddhists, Singaporean families and young people? What did she say? She said: "No Singaporean will want to visit Myanmar. The Singapore Tourist Promotion Board wants a $100,000 start-up capital. There will be no business. You will lose money."
Yet there is a trend in more and more Singaporeans taking holidays. Myanmar is nearby and the costs are relatively low compared to going to Australia with its very high airport tax. So, I can see a high probability of a small success in this venture as she has her Myanmarese contacts at Yangon and in the other states. I went on an exploratory expedition to Myanmar in October 1, 2008 and took 3 Singaporeans as "guinea pigs." Did the guinea pigs enjoy the tour? I did.
One swallow does not make a summer. Shirley is not convinced 100% of the viability of my concept. Belief, Passion, Drive and Perseverance. Shirley has the perseverance if she is convinced that there is money to be made. Yet, without belief, passion and drive, success is limited.
CREATE NOT CONSUME
Well, I will let you know some months later the end of the story if I am able to instill belief, passion and drive in Shirley.
Create, not consume young people. Obviously, you can't be successful in every nutty project you think of. You must be hands on and be prepared to fail. Failure is the mother of success. Provided you don't get knocked out, hands on experience in your project will create small successes for you.
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