Home > Blog > Interesting Pro-Entrepreneurship Cab Driver

Interesting Pro-Entrepreneurship Cab Driver



On Friday 23rd March 2018, as we were cabbing home from IKEA Tampines post date and shopping (yeah, we're kinda boring in that sense lol), the taxi driver started sharing with us and encouraging us to take up entrepreneurship.

It was interesting.

He said stuff that includes:

What's the point of becoming a highly-salaried manager? They'd work you more than your salary's worth, and by the time you get home, you'd be dead tired.

When you are young/younger, and have the energy, quickly go out and build your own business. Go for it, and do not be afraid to work hard for something you own.

If and once you have an influential person or organizations behind you, a lot of things becomes easier. An example is if you have a rich and power uncle behind you, and you need and overdraft facility - often it's just a phone call that makes things move.

During my time, when I was just about to launch my business, I went to raise funds, and I was so shocked when CBRG provided me with $500,000 to start and grow my business. Look for funding if and when you can or need.

Angel investors in my opinion aren't really mentors - they're just gentle investors. If you're looking for mentors, really look for mentors.

Singapore's setup and stance is very good and supportive of entrepreneurship, so maximize your opportunity.

If you need to control your cashflow in the early stages, go with a bank's factoring service (Note: what this means is that banks can provide you with liquidity service - for a fee, usually a percentage - of your projected cashflow. This is useful to ensure that you have consistent cashflow that your business needs to survive.)

In the early days of the business, it's just about survival. Keep your cashflow tight. Remember, in the first year, 70-80% of startups die. In the second year, 50-70% of those that survived die - so your main goal in the first few years is to keep the business alive and going.

Now what I do is teach and encourage my grandchildren to be entrepreneurs. All four of my children are business owners. You need to teach them the life, way, approach and reason of entrepreneurship.

What a blessed time to receive this, as I phase and transition out of my decade-old rehab business that was acquired end of 2014.

My real reason for entrepreneurship

There are so many upsides to entrepreneurship, now that I look back at my entrepreneurship adventure that began in 2008 (of course, the idea started manifesting earlier in a few select memories that come to mind from my early days.)

It has taught me so many skills and provided me so many life experiences that a regular life doesn't bode the same to me.

I love entrepreneurship, and more importantly, the freedom that came with it.

Entrepreneurship to me, is a lifestyle and a sense of freedom (of course it must make money and provide good value to clients, not just in name).

Where to next?

  1. Back to NigelChua Home Page

  2. Contact me by email at (even just to say hi) nigel@nigelchua.com

  3. See the latest articles and updates at the blog

  4. Check out all the resources and tools I use

  5. See my top two resources below: Wealthy Affiliate (left) and Solo Build It (right) - both have very specific strengths and functions

Wealthy affiliate: #1 to learn how to build profitable wordpress online businesses

Wealthy Affiliate is my recommended for WordPress online businesses.

I've been a premium member of Wealthy Affiliate since 2015 and there are a number of pros to be with them, which you can read at my Wealthy Affiliate review here.

One of my favorite points of WA is that they have a try-before-you-buy forever-free membership which you can sign up here for free. No credit card needed.

solo build it (sbi): #1 for offline businesses local search engine ranking, traffic and lead generation

Solo Build It (SBI) is my #1 tool for local search engine optimization (SEO) domination as well for online marketing which I've been using since 2010 personally for multiple projects.

Read why I chose Solo Build It...

...and more importantly, why I still stay with Solo Build It (SBI) till today and use them exclusively for all my SEO, traffic and e-lead generation.


Back To Top

Search In NigelChua

Current Projects

Nigel Chua

Nalco Group

Nalco Skincare

Therapy Entrepreneurs

Xtend Health Asia

Wisdom Of Seneca

Bee Pollen For Health

#1 Recommended Online Business University And Platform

Name: Wealthy Affiliate

Scoring: 96%

Founders: Kyle & Carson

Pricing:

I've been a premium Wealthy Affiliate member since 2015, read my Wealthy Affiliate Review here.

I recommend them if you want to learn how to make money online.

Better still, you can try Wealthy Affiliate for free here.



Solo Build it (SBI)

Solo Build It!

Solo Build It is my #1 tool for local search engine optimization (SEO) domination as well for online marketing which I've been using since 2010 personally for multiple projects.

Read why I chose Solo Build It...and more importantly, why I still stay with Solo Build It (SBI) till today and use them exclusively for all my SEO, traffic and e-lead generation.



GetResponse Email Marketing

Building a relationship with your audience, customers and readers are highly important for any offline and online business, and I recommend GetResponse for their services, great price, ease-of-use.

Try GetResponse today (1st month free)

Bonus: learn how to use an email autoresponder



Google Suite

Google Suite (GSuite) is THE recommended Google tools for email, calendar, documents, sheets - for productivity  and communication.

GSuite/GMail one month free trial available here.



Shopify

Shopify has made it very easy to start an ecommerce business, solving most of the tech and logistical barriers and even has product suppliers with Oberlo!

Try Shopify today

Books I'm Reading

Holy Bible

Tribe Of Mentors

Seneca Letters From A Stoic

Seneca On The Shortness Of Life

See my full book/read list here.

Blogs I Follow

Tim Ferriss

Pat Flynn

Tony Robbins

Ramit Sethi

Richard Branson