Wednesday, May 12, 2010

59. How to be successful?

May 12, 2010
To: Ms Koh

Do what you think is correct. Learn from being hands-on and making mistakes. There is no other way to be wiser and smarter.

Singapore expatriate real estate rental markets are getting hotter in 2010. I have at least 10 times more e-mails for this year than last year regarding rentals esp. serviced apartments.

Some agents sms me about the Bishan Loft advert. Pl use your phone to make preliminary contact and e-mail.

Become an expert at Google Docs for real estate. I attach a picture hoping it will inspire you. I am into creating inspirational pictures for young people like you and those studying hard for their future.

The Golden Age of the internet is in your hands. Internet connects the world unlike my youthhood in the 1970s. One example I gave you was an expatriate who surfed the net, contacted, met me and bought a $3.3 million Wing On Life condo in Singapore. My co-broking agency commission was $15,000. We would never meet if not for the world wide web.

I will not live long to enjoy this Golden Age as I was born at the wrong time. But young people like you will enjoy and prosper in this Golden Age if you know how to use the internet. Create rather than consume. This is my advice to all young adults like you. But few young adults create.

One good example is a 26-year-old man, Singaporean I met recently. He had been doing e-bay sales for the past 9 years. He did not need to work for people. He would get orders to create Star Wars "guns" etc and get them made in Singapore. Then he would mail them to customers in the U.S.A.

He was passionate in his craft as he showed me his Facebook portfolio. I was impressed with his creation of a gold ring similar to the one in the movie "Lord Of The Ring." It looked like a simple gold band but I could recognise it as the LOTR ring. He said that the movie ring had words engraved on it using CGI. He said his LOTR webpage was shut down.

But competition is nowadays much stronger and therefore his net profits have had reduced considerably. "This is a common challenge when Singapore becomes fully developed," I said to him. "Many younger vets have also set up shop to provide cheaper services than the established ones to get the business."

This young man is venturing into a "new" field "internet marketing" which also has lots of competitors and is actually an old subject. Some people even advertise in the Straits Times to conduct courses on "internet marketing." Nine years is a long time and I can understand he needs a change.

I could not believe that such young Singaporeans exist as I think they are addicted in online computer gaming and enjoyment at the age of 17 years which was when this young man started his enterprise to create and sell on e-bay. This young man showed me one other young man in Hongkong. That man created the "Iron Man" suit for sale. He lamented that this was beyond his capability. My comment is that he has lost focus and interest. It is a pity that he has no "determination" or "perseverance". He could manufacture and produce really good toys and has a forum to market his work.

In conclusion, create and read widely. One day, you will be successful even though you may not want to do real estate anymore. It is the hands-on internet experience and solving the problems of the real estate that will give you the hard edge to take on another industry later.

Best wishes
Dr Sing Kong Yuen

Best wishes.

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