Entrepreneurs have to stay focused to grow their business
BANDAR SERI BEGAWAN
Wednesday, August 12, 2015
STAYING focused on a company’s vision and mission is essential business success.
According to Dato David Cheang, founder and CEO of the Singapore-based property development company DC13 Development Pte Ltd, having a vision is crucial as this keeps the main objective of the business clear.
In a speech delivered during yesterday’s Local Business Development Forum, he said an entrepreneur needs to hold on to his vision if he/she doesn’t want to be distracted by “noise in the market”.
“Many people get distracted by the noise in the market. So when you feel yourself getting distracted, always come back to the vision. For myself, although there were times opportunities were presented to me in different industries, I remained focused and this has helped me to be where I am today,” he said.
Cheang said it’s important to have a compelling reason behind any business venture. Netting a profit, he said, is not the only reason why one sets up a business.
“The reason why I strived to start my own company was because I wanted to help my family and get back to the lifestyle we had before I fell into bankruptcy. I believe that any business should be set up not only to get profit but also to help the country’s economy and (raise) the quality of life of the people,” he said.
Cheang also acknowledged the importance of passion as this is what has helped him achieve his goals.
“As an entrepreneur, you have to be willing to do more than what others are doing,” he said.
Cheang said when his business was at its early stage, he was clocking in 16-hour work days just to get things done.
He said entrepreneurs need to collaborate with others as sharing of ideas will develop their business.
“It’s important to have an objective mind and make friends instead of enemies in the business world,” he said.
Cheang has partnered with different investors, developers and subcontractors to develop his company.
The Brunei Times