Accept Failure and Learn from the bitter experience 8th Jan 2020

The last of the 3 crates on the lorry back to their origin

Today is the day I finally closed one chapter in my life, in a joint venture business. I set up a QA test business based in Singapore  in 2012 and try as we might, the partner and myself (mainly) just got it all wrong.

The 3 crates are the final symbol of what once was a company which employed 10 people, in Thailand, Malaysia and Singapore and provided test services for all manner of Quality Assurance tests ; primarily to the electronic and semiconductor segments in the region.

We employed a sales manager, a coordinator, an engineer, later a service manager, 4 people in Malaysia and Thai sales manager, and myself as director. I had some initial funds and loans. Sad to say, over the 4 years it was active and almost 4 since it was dormant, the situation went downhill after less than 1 year.  

I was stupid to even consider the venture, not having studied the market properly and was blinded by the fact that I thought I had enough relevant experience to weather the initial times of name non-recognition till the market finally accepted a new entrant.

After much haggling and pain, the big monster equipment is sent home

Valuable lessons I learnt from this business failure :

a) never ever believe you know everything there is to know about the market, the        

   projected  economic conditions and bet on a market segment which there are many 

   players.

-  NEVER  EVER THINK YOU CAN OUTSMART THE MARKET.

b) I should have studied what was the value added and unique value we offered to our 

    customers from day 1. I overlooked it and paid the price.

- DO YOUR HOMEWORK WAY IN ADVANCE, ASK THE MOST CONSERVATIVE AMONGST YOUR FRIENDS AND THEN SOME

c) I should have cut losses as early as year 1 ; rather than let the venture continue for 

    another 3 plus years where the overheads were still high, but staff were slowly not 

   replaced. The Malaysian operations was shut down in 2013, when it should have 

   been closed a year earlier. The rental of the entire unit of the industrial building was 

  another big operating cost factor. My current business is operating at 1/4 the 2011-15 

   rental costs and 1/10th of the staff costs during those crazy days.  

- COSTS COSTS COSTS. KEEP THEM AS LOW AS POSSIBLE FROM DAY 1. NOTHING ELSE MATTERS. IF YOU DO GO INTO BUSINESS, ONCE THE INDICATORS DON'T SEEM RIGHT. GET OUT EARLY ELSE FACE THE OF RISK GETTING BURNT.  

2 other smaller equipment components on their way back

The happy news it that the failure has been a great learning lesson for me. There are several good aspects which came out of this experience and which I am putting to practice in my current company, so accepting that I failed, lost money and made myself look so foolish is in my psyche. I have vowed never again to go into any venture too full of my capabilities. Luck also plays its part in ensuring whether my life or my business is a  success or failure. 

LESSONS LEARNT FROM THIS FAILURE I HAVE APPLIED TO MY CURRENT BUSINESS AND IT CONTINUES TO EVOLVE WITH THE MACRO AND MICRO ENVIRONMENT.

   BEAR THIS IN MIND

1.WE KNOW WHAT WE KNOW (LEARNED ACADEMIC AND HEURISTIC KNOWLEDGE)

2. WE KNOW WHAT IS UNKNOWN (WE KNOW THERE ARE THINGS WE DONT KNOW)

3. WE DONT KNOW WHAT WE DONT KNOW. (WE DON'T EVEN KNOW THERE 

  ARE THINGS OUT THERE  IN SHAPE, FORM, PERSON OR ROBOT WHO OR 

 WHICH MAY CAUSE  CHAOS TO THE ENVIRONMENT AND HENCE TO OUR OWN 

 EXISTENCE.

Money which you earn, or attain through a windfall, inheritance or just dumb luck can easily go down the drain very fast.So hold on to it, and keep it in the safest denominations  or vaults possible.

My goal ever since that Failure is to Work hard to make myself relevant, keep costs to a minimum and earn enough for a decent retirement. There is so little time and opportunities left to while away.

Keep healthy, and love and care for those who mean the most to me. 

Seize the Day.  

Shitoryu Karate Association 55th Anniversary Dinner

Representing our club Ken Shin Kai Club and collecting a token of appreciation

I have been involved in Karate for well over 20 years ; My first exposure was with the Shotokan club at YMCA in Palmer Road from 1972 till 1976 and subsequently I came back and trained as an adult from 2002 till present with the Shitoryu school Ken Shin Kai under the tutelage of Hanshi Chia Kwek Fah (8th Dan Black Belt).

Recently the Shitoryu Karate Association in Singapore celebrated its 55th year of existence. Founded by Hanshi Wong Tuan Sing and  the current President of the Association is Sensei Riki Young.

We had a great time reminiscing old times, meeting up with long time associates and club mates and much merriment was had watching the singers, dancers and even Elvis impersonators giving their all ! 

with Ken Shin Kai club mates, Hanshi Chia Kwek Fah (orange) in foreground

          L - R :   Filipe Cunha,Woo Kwang Sun,Alan Sim,Loh Kheng Leng,Leck Chye 

                                    Chuan,Johnson Wee and Jason Chua.

Oss !

0 - 0 but several really good chances not put away

Wolves 0 Man Utd 0 

Several very good chances saved wonderfully by their goalkeeper and Wolves John Ruddy was extremely lucky that Rashford's and Mata's efforts did not end in the net.  

Milan and Florence - 2 Unforgettable HIghlights

The Last Supper by Leonardo da Vinci ; at the Chapel of Santa Maria del Grazie 

Leonardo da Vinci's last Supper was and is one of da Vinci's 2 most famous works, the other being the "Mona Lisa" situated at the Louvre in Paris.

This painting was not done in the 'fresco' or wet painting style so common of the 15th century but (pardon my ignorance) but rather it was done in a more painstaking tempera and oil on gypsum before mounting it to the wall. The painting is kept in a climate control room whereby the humidity is kept purposely low to prevent moisture from causing damage to the wall (fungus etc.)

If you do go to Milan, do book this tour early as the number of people allowed to view the Last Supper is very much kept to minimal so as not to cause damage to the wall. 

The painting depicts Jesus of Nazareth seated at the centre and having the last supper with his 12 disciples before he is betrayed by Judas and even his own dearest Peter.

Michelangelo's David in the Accademia de Belle Arti (Fine Arts Academy) in Florence. 

Another must visit site is Michelangelo's David (of David and Goliath story). This 6 meter marvel of engineering and sculpting brilliance is a must see by anyone who visits Italy. Michelangelo himself said that he saw the people inside the rectangular blocks of marble and  his job was to free them from the blocks.

There are numerous blocks showing semi completed works where the people seem to be struggling to get free from inside the marbe block. 

Such was his genius which still resonates till today.

Accamedemia in Florence. 

Carpe Diem.   

Being Alive every morning is Awesome and I am grateful

My Rain Shower for the last 18 years 

In the last few years, I have routinely made use of the rain shower in the 3rd floor of my house. 

The feeling of cold water rushing down your body while you look up into the morning or night sky is indescribable.

I would like to share it with my readers. If you ever get the chance to shower - try it.

I feel so indebted to my parents, family and my past that indeed life can be enjoyed by the simplest of acts.

Good Morning 4th Jan 2020 !  

Be Thou My Vision

My late father Geoffrey's favorite hymn and this will be one of the first hymns I will endeavor to learn and master.

2020 New Year Resolutions - Simple ; Easy ; Step by Step

My Son Andrew's 22nd Birthday Recently 

Here are my New Year Resolutions ; No Fuss, No Excuses Just Set them out for the world to see.  So if I miss them and fall flat on my face. The world will laugh at me with no mercy. 

1. Say "No" more effectively.
2. Be On Time ; no later than 10 minutes late  (need to count this and compare)
3. Honor what I say ; Less empty promises.
4. Lose 3 kg and keep it there
5. Be a better swimmer
6. Be a better piano player.
7. Manage $ better

Say "No" more Effectively and when Necessary

Say "No" more effectively - I need to be more assertive in saying "No". Saying "Yes" when not considering the the consequences can turn out bad in the future. So I need to do this NOW.

Be On Time

Time management ; if I agree to meet someone or there is an agreed time to meet for class, a meeting or scheduled doctor's appointment. I MUST plan better time management to ensure there is X minutes plus +15 before that appointment to be there on time.

Honor What I Say

Deeply personal and a committment for me by me and a core value.

Lose 3 kg and keep it there

The battle is a daily one where I have a concious effort to eat less and exercise more. Sounds easy ? But one of the most difficult things I have encountered in my life.

Be a Better Swimmer

As my running is winding down and I am running less due to wear and tear on my joings and tendons, I will swim more and a target of 20 laps each day 3 X a week is my goal

Be a Better Piano Player

Take lessons, Youtube and others and play 20 songs in time for our 60th gathering sooner than I would expect. 

Manage $$ better 

Eat wisely, spend less on the dining and be happier for it. Make the profit from  really high expectation year with provisions for savings, donations, and myself. Starting today.