Saturday, 27 August 2016
MOST parents in their 50s are looking at retirement options when their children starts looking for employment after their studies. There is this transition moment in our family circle of life where the baton of employment, career or business is being passed to the next generation.
The older generation after 30 years of slogging, looks forward to easier passing of days without the responsibilities and worries whilst the younger generation looks forward with optimism and high hopes of securing a good career ahead.
As an entrepreneur with businesses and investments, my natural instinct is to rope them into the family business, if any, as any typical old generation Chinese businessman will do. But I made up my mind some seven years ago when my first born started his A Level, that my children will make their own choice whether they will prefer to seek employment elsewhere or participate in the family business. It will be their choice and decision and I will support whole-heartedly whatever decisions they will make. Seven years later, I still have the same conviction.
I had this feeling that the business world and environment will be much different with all these globalisation and technological advancement and the businesses that I was in will be operating in a much more competitive and disruptive world order. This has proven to be true.
The traditional brick and mortar businesses are under tremendous stress to keep up with new disruptive technologies and new business ideas.
My children will have to learn new skills and insights and they definitely will not be able to learn from my traditional family business unless I had instituted changes to my existing business to join the new business order. But I did not know how.
So it is better that they decide on their choice of employment in whatever industries they choose as long as they are working for a forward looking company who is able to embrace the new technologies that are changing the business order across the global markets. And if they do decide later, after some years of working experience, to venture out as an entrepreneur, I will also support them.
Assuming they are up to it, with the right attitude and skill sets.
Not everyone is capable of being a “successful” entrepreneur. It is easy to start a business, call yourself a founder and entrepreneur but chances of being successful is limited to the capable few. For most cases, you are better off building a good career in a good organisation rather than struggling in a small-scale business for the rest of your life.
If you planned to be an entrepreneur, just make sure your business potential is scalable to a size that will earned you nett, double what you would be earning in a good job. Or else it will be a waste of time. The thrill of being your own boss wears thin over time when you are not doing well financially.
I have many friends who have done very well in their corporate careers and they seem very happy when we do meet up. They definitely look younger than me, with less stressful lines, a radiant and happy face. Compared with my aged face filled with wrinkles and scars of agony suffered through the years. Was it worth it?
With the wisdom of hindsight, I am now able to advise my children on their decision making process on whether they should be a corporate suit or to go on their own. My only guidance to them is whatever choice they make, just ensure their actions are productive and contribute towards the well-being of the economy. Don’t be lazy, do good where you can and be as good as you can be. Then start a family. Circle of life starts again.
The only career that I totally discouraged my children from is the job of a politician. Good politicians are hard to find nowadays. Since integrity left the politicians, good virtues and honesty followed. What is left is a shell of a conniving and corrupted politician using whatever means he or she can to stay in power supposedly representing the people’s interest.
All over the world, the politicians together with religious and racist bigots have caused total mayhem to our daily lives. People are divided by race, religion and skin colour. Nothing makes sense anymore. Throw in lots of money into a politician’s hands and we have absolute corruption across the ranks. Cash is king. Everybody can be bought. And I mean everybody.
What is really sad is the complete breakdown of morality and integrity of the politician. The few genuine politicians who stand their grounds based on principles of justice and fairness to all are few and far between. Eventually, they too will be engulfed by the all pervasive influence of corruption.
To the younger generation joining the working community, my only advice is to pick a job that fits your personality and your skill sets. Make sure you enjoy the job. Get some proper working experience under your belt and you can evaluate your options in a more leisurely way.
You will know when there is a calling for you to become an entrepreneur. You will be unhappy with your job, your bosses irritate you, there is a burning desire that has just lighted up in your belly, a brilliant idea suddenly appeared and you feel that you are now ready to be an entrepreneur. Are you?
From experience, it takes a long time for an entrepreneur to make a big fortune. If you do not have the patience, I recommend you a job that makes money faster than an entrepreneur.
Be a politician.
2 thoughts on “12/2016 – Let your children decide on their employment choice”
In the long term, you make more returns than over short term trades… Real entreprenuers must think long term… Short term wannabe businessmen are like con-artistes, thinking of only short term profits without regard of the long term consequences of their actions, good or bad, on their clients and the communities they operated in..
Aiyoo Mr Tan! All the politicians might gang up & take class action -seditious or any other thingy they can use.
Anyway, enjoy your article.