Business

[roly8]

I read from another forum about this guy who have a competitor in the same industry that sell the same product which is sold at a much very low price. The profit is little or none.

his scenario is really similar to what i encounter in my business. My competitors can throw in ton of goodies + offer rock bottom price just to attract customers!

furthermore, i feel that my industry which i compete in is too saturated.. too many competitors ..

this is driving me crazy everyday to brainstorm to create something unique to win them... but it is hard.

i might even want to exit this industry


you see singtel, m1 and starhub? 3 companies only.. somemore under the same investment company 'temasek' .. they can set a good price for profit...

[Lovelle]

Sound like an IT integrator biz

[chiaberry]

bro, you may consider re-entering the work force. With IT qualifications, it should not be too difficult. At least you will have a stable income. And you may still be able to continue your IT biz on a part-time basis depending on the work load.

With a stable income, you can get your foot on the property ladder.

The longer you wait, the higher the risk that inflation will bring that first property beyond your reach. Since you are young and have the luxury of time, over the long term, it will not prove a mistake to invest in property. That's provided we do not enter deflationary or stagflationary status long term. but I think that is rather unlikely (could be wrong as I am no economist other bros/sis more econ savvy pls comment).

For myself, even though I have been staying with parents-in-law all these years, I had to buy property in order not to be left in the lurch to prepare for the day when I would have to move out on my own.

[cavaliver]

It is not easy to work for somebody after you have been on your own

[Shanhz]

IT is a very tough industry to be in. the product life cycle is short, the margins are thin, innovations are too fast, knowledge need to keep upgrading (sorry bro, i am speaking what i think is true).

the suggestion here to get back into the workforce may not be bad advice although i understand tough. furthermore, there are too many FT players employing their own kind (we know who lah) esp in IT.

perhaps very radical, but have you thought of going into another industry?

check out this:

[chiaberry]

Agree - not easy to work for other people, IT FT tends to employ their own colour etc

However, if you look hard enough, I think you may be able to find a dept where you can fit in. Some organisations prefer to employ Singaporeans rather than FT. They may not pay the best but stability of income may mean more to you at this stage whilst you re-look your own business and its future. It may need some change of the work scope from your own business but you are a smart chap and can adapt I am sure.

This is the New World. It is constantly changing. You have chosen a field that is changing by the day. You have to accept it and keep on your toes.

Sorry....I am sounding like nagging mother.....too much time with family and mother mode is triggered....

[hopeful]

"
this is driving me crazy everyday to brainstorm to create something unique to win them... but it is hard."

You are not doing what the big boys are doing.
Try offering your buyers something like Ms Esther Goh, Ms Lee Wei Hoon, Ms Pang Chor Mui, and Ms Cecilia Sue Siew Nang?

[hyenergix]

I'm not too sure if he is asking for a solution or juz venting his frustration.

[Shanhz]

just wondering... are SMEs the new safe havens to be in? i dun mean small size SME but decent size with say over 50 or 100 headcounts. SMEs actually favour locals rather than foreigners becoz bosses want result, not so head shakers who talk alot but do nothing. bosses are hands on and can see who can do work, who cannot. but pay and welfare is lower. comments?

[smpeh]

just wondering... are SMEs the new safe havens to be in? i dun mean small size SME but decent size with say over 50 or 100 headcounts. SMEs actually favour locals rather than foreigners becoz bosses want result, not so head shakers who talk alot but do nothing. bosses are hands on and can see who can do work, who cannot. but pay and welfare is lower. comments?

Not sure, cos depends on the trade that one is in. I know of someone working in a big local F&B didn't have a good time. Though in marketing, when a product is not well accepted, they gotta do cold calls and knock door to door.

Think roly should actually revised his strategy and asked the clients what else problems they are facing and link his products to the end user. I feel most important hear what clients gotta say. May not be his core biz but may get to a bigger lobang.

[samuelk]

Service level works at most time.
At other, the resource that is attach to the client is important.

There is no sure way as when the contract is up for review, everyone wants the best prices.

Unless its in the banking sector, things "works" differently there.

Best prices dont always wins and sometimes the difference is as much as 20 - 30 mil difference.

Everything is hearsay of course

[focus]

Give us an idea of a product that is undifferentiated and competing on a cost-plus model. Give us an idea of the competitors and your target customers.

We brainstorm for you!