My entrepreneur journey

I have always wanted to do my own business. It is my aspiration.

In February this year, I took the courage to resign, and to explore my homecare business. Homecare has been an area that I am passionate about, and it arose from the time when my Dad was unwell. I had wanted to consider doing this in US (home care is well received in US and there is a huge market) by taking up a franchise, however, this was only feasible and advisable only if we relocate.

I moved on to explore the local market. There are 2 major players and several smaller players in the market, and referral is largely to the voluntary welfare organisations (VWOs) by hospitals. The VWOs are partially subsidised by the government. This is a market in which there is a large demand, yet limited supply. Though it sounds like a feasible business (with high demand and low supply), market players are in fact struggling, as the market is not mature yet. I was told by a reliable source that a boss of one of the major players had to work part time to pay his staff. There are a few reasons why the market are not ready for homecare services yet and supply continues to lag behind demand:

1. There are only 1 in 1o residents now whom are 65 yrs and above. This ratio is expected to become 1 in 5 residents whom are 65 yrs and above by Yr 2030. The severity of the ageing population is probably not visibly severe enough yet to prompt finding of alternative cares to step down facilities (day care centres, nursing homes etc). Coupled with the chronic low birth rate and limited step down care facilities, home care services will be required in time to come.

2. Lack of awareness of homecare services, and what they can do. Homecare services can be in the form of nursing services, therapy services (physiotherapy, occupational therapy or counselling) and homehelp services (meal preparation, laundry, escort services, bathing of patients etc). The irony is that the existing market players do not really market their services to create awareness (which I believe they must have good reasons for it).

3. Singaporeans are not prepared to pay for homecare services as yet. They would rather hire maids to take care of their elderly loved ones who need assistance with daily living.

4. It is difficult to recruit committed and trained local staff. Hiring foreign staff would be too expensive for a start up. The severity of trained local expertise can be felt as of now when you step into nursing homes, community hospitals. One of my interviewees whom had worked with one of the big market players shared that caregiving is a tough and dirty job, and the salary does not justify for the amount of work. I agree, and yet if the charges are adjusted higher, afraid that it may shut out the demand and channel all demands to VWOs.

5. Lack of government funding or insurance coverage for homecare services. In countries such as US, Australia or Japan, home care services are either paid by insurance or subsidised by the government.

I have decided to put this business idea on hold. Though disappointing (and especially considering the opportunity cost lost), however, I am glad to have the chance to pursue and explore the idea full time. The 2.5 months of market research and business planning may be a blessing in disguise. Given a chance when the market is right for the business, I will be more than happy to go into it again!

Taiwan - Here we come again!

Went to Taiwan with hubby from 15 May till 22 May. This is my 4th time to Taiwan. The 1st time was with my gal friends, it was my first overseas trip with friends. The 2nd time was with my family members, and I was happy to be the tour guide for my Papa, Mama and Sis. The 3rd time was with my fiance and we were there to take our wedding photos (accompanied by Xueling whom made the trip esp for us). This time round, my hubby and myself are in Taiwan to simply experience the nature, culture and people in Taiwan! All the Taiwan trips are memorable to me.

Upon arrival in Taipei, we took the Taiwan High Speed Rail to Chiayi. Though it was a bit pricey, it saved us a lot of time and the experience was good. Upon arrival in Chiayi, we had a helpful Taiwanese on business trip to lead the way for us to our hotel (those we didn't ask for his assistance). We went Wun Hua Road Night Market and tried their local cruisines.

The next morning, we made our way to Alishan. Enroute, we stopped by Fenchihu. It was a small town with nice snacks. We tried their famous lunchbox and visited Fenchihu Old Street and Old Railway Museum. What amazed me was their bamboo plants with squarish stems.

At Alishan, we could not venture very far as it was raining for 2 days. We attempted to watch the sunset and sunrise, however, it was not clear due to the rainy weather. We went to watch the tourist video instead and the video was played especially for 2 of us! Haha.

We went to see Sun Moon Lake too. Hmm, it was different from what I saw during my first trip 9 yrs ago. Developments have made its way to Sun Moon Lake with classy hotels and pubs.

Next we made our way to Cingiing Farm. The air was fresh, the organic breakfast was great and staying in a home stay was a good choice. We visited the Cingjing Recreational Farm and Small Swiss Garden. The morning spent in the farm was fun. The lunch at Carton King impressed us. Every piece of furniture and most cultery were made of cardboards.

Next, we made our way to Taichung. We visited Feng Jia Night Market and Chung Yo Department Store. Finally we got back to Taipei and we stayed in the Yoxing Hotel (that we stayed last year) and we went back to our favourite "My Home Steak" opposite the hotel. It was as nice as ever. During the few days in Taipei, we had Mark whom is William's secondary friend as our local tour guide. We visited National Taipei University, tried the yummy beancurb near to the university, bought a nicely designed umbrella from Umbrella King (the umbrella comes with a warranty!), and visited National Chiang Kai-Shek Memorial Hall, National Palace Museum, Ronghe Street Night Market, Wu Fen Pu and Shida Night Market.

This is another memorable trip with my Significant Other :-)

Morning Glory

I watched the movie "Morning Glory" with my hubby yesterday. The show tells about a young and enthusiastic television producer, Becky (played by Rachel McAdams), who took up the challenge of reviving a dying morning programme with plummeting ratings. The folks working for the programme was extremely low morale and everyone seemed to be waiting for the programme to die a natural death. Becky impressed the team by hands-on in everything and shows that she cared! She reorganised the unit and fired the most conceited anchor! She brought in a legendary newscaster, Mike (played by Ford Harrison) who was the "3rd most difficult person in the world" and someoe whom Becky admired since young. Despite her best efforts, the ratings went down to rock bottom in history after Mike joined. Simply because Mike simply didn't want to cover stories that were not worthy of his reputation. Becky was asked to go. She did not give up, she continued to press on, and tried out new programmes atypical of morning shows and she got a great team helping her. The whole team was like a family. Eventually, her passion, hard work and her genuinity paid off! The show was revived! She was even headhunted and yet she chose to stay on. The show moves my heart. Becky has an intrinsic passion for tv production. I love her energy, drive and guts to try! Her determination, perservance and willpower impress me. I was, if I may say, very much like her. I have steered the department that does not value add at all to one with credible reputation and handles significant project. I have built up a great team made up of mostly Y generation. I have wonderful nursing colleagues working with me. I was told that I was a well-loved manager based on a survey (I was quite flattered by this actually ;-) ) I have chosen to resign though. Not an easy decision. The corporate environment is really stifling to my creativity and innovation and there is no work-life balance. I did not choose to stay on like what Becky did, despite my team was hoping very much that I will change my decision. I have decided to pursue an alternative career, something that is much more meaningful and I can go ahead to stretch my potential! My intellectual being is dying in this current job and I am counting down to my last day of service. Thanks to my hubby who supports my decision. Thanks Dear! And I wish my great team all the best, and I believe each and everyone of them will do well.

Honeymoon in Europe - 11 Nov 2010 to 27 Nov 2010

12 Nov
Arrival in Rome, Italy

1. Piazza di Spagna (Spanish steps) – Can see LV, Gucci and many branded names here.
2. Trinita Dei Monti (church)
3. Trevi Fountain (I made a little wish here by throwing a coin :-) )

13 Nov

1. Colosseum
2. St Peter’s Basilica in Vatican City
3. Pantheon
4. Piazza Navona (had high tea here while listening to street performance.. this is learning how to relax life)
5. Piazza Venezia

14 Nov
Florence in Tuscany region

1. Went to a mountain top to take a photo with a replica statue of Michelangelo (Italian Renaissance painter, sculptor, architect, poet and engineer)
2. Ponte Vecchio (historic bridge for a view of River Arno)
3. Uffizi Gallery
4. Piazza della Signoria (the lordship square, showing may sculptures by famous Italian sculptors)
5. Santa Maria del Fiore Cathedral (3rd largest cathedral in the Catholic world)
6. Door of Paradise at the Baptistery of St. Giovanni

15 Nov
University city of Pisa

1. Learning Tower
2. Duomo
3. Baptistery

16 Nov
Venice (reached by water taxi)

1. St Mark’s Square
2. Dogo’s Palace
3. St Mark;s Basilica (church)
4. Campanile (bell tower)
5. Bridge of Sighs
6. Glass-blowing factory
Verona in Veneto region

There is also a colosseum here, nice shopping area and we saw the ‘Juliet’s balcony’.

17 Nov
Milan

1. Shopping at Milan!
2. Castle visit

18 Nov
Interlaken, Switzerland (beautiful and awesome Swiss Alps… I simply love snow. Visiting Switerland reminds me of the Fox Glacier in New Zealand J )
1. Had choc fondue, beef fondue and fruit fondue the night before
2. Jungfraujoch (traveled to the top of Europe by train)
3. Shopping at Interlaken (bought our Swiss cross t-shirts!)

19 Nov
1. Mount Pilatus (by cable car)
2. Lucerne (Switerland’s largest city) – Lion Monument, Chapel Bridge, Princess River and shopping again

Swiss cottages have lots of windows to let sunlight comes in whenever there is sunlight.
Choc from Swiss Chalet Shop at Hotel Oberland is good.

20 Nov
Travelled from Lucerne to Paris (600km… took us 8-9hrs)

Paris, France
France is a self-sufficient country and the largest country in Europe.

1. River Seine Cruise (you can see Eiffel Tower lighted up in the night, many bridges, Cathedral of Notre Dame, Louvre Museum etc)

21 Nov
1. Arc de Triomphe (erected by Napoleon in 1806)
National Monument to the Unknown Soldiers of France
2. Eiffel Tower – went to the 2nd Level
3. Louvre Museum (see the famous glass pyramids)

22 Nov
Took train to shop at Galeries Lafayette and surrounding shopping areas (bought my most expensive bag here… ;p)

Start of our Free n Easy! Took Paris bus to check in to Mercure Hotel

23 Nov
Took Thalys train from Gare du Nord station, Paris to Bruxelles Midi, Brussel (hee hee… we made it to an earlier train and the friendly train conductor let us pass :-) )

Brussel
Visited the attractions at Grand Place.
Tried their subway.

24 Nov
Took Thalys train from Bruxelles Midi, Brussel to Central Station, Amsterdam (called Holland previously)

Amsterdam
The canals in Amsterdam are scenic with its surrounding buildings.

Visited the Flower market (see mainly Tulip bulbs though, as it is near winter), Anne Frank house and bypassed surrounding shopping areas (Magna Plaza etc). Bought books from CLC (Raadhuisstraat 14 1016 De Amsterdam)

Late night shopping in Amsterdam (till 9pm) is on Thurs.

25 Nov
1. Day tour to countryside of Amsterdam to visit wooden houses, cheese factory (bought smoked cheese), windmills and wooden shoe factory. Also visited the traditional fisherman’s village of Volendam
2. City Tour of Amsterdam
3. Enjoy the night canal scenic route by boat ride :-)

26 Nov
Traveled back to Singapore




Hotels
Rome: Holiday Inn
Switzerland: Oberland Hotel
Paris: Hilton Hotel, Mercure Hotel
Brussel: Floris Ustel Midi
Amsterdam: Inntel Hotel