We are nominated for Spirit of Enterprise Award 2007

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Dennis Ng
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We are nominated for Spirit of Enterprise Award 2007

Post by Dennis Ng »

To all our clients and friends out there, we want to say a Big Thank You.

Dennis Ng representing Leverage Holdings Pte Ltd is honoured to be the First and Only Mortgage Consultancy company in Singapore nominated for Spirit of Enteprise Award 2007.

P.S. Spirit of Enterprise is an award to promote and honour entrepreneurship among Small and Medium Enterprises in Singapore. Nominees this year include Lim Hock Chee of Sheng Siong Supermarket, Ivan Lee of Thai Express restaurant, David Gan of Passion Hair Salon, Benny Chua of Choz, amongst other nominees.

During the 2 hour interview with student interviewers of SOE, I shared the following:

What made me embark on this venture choice?

What was my childhood dream?

When did I decide that I would strike out on my own instead of working for someone else?

Who/What motivates me?

And my take on topic such as:
to succeed in business, what qualities are essential? What are some of the secrets in making a successful business?

To what extent does ones educational level help or hinder entrepreneurialship?

What advice would you give young people who want to start their own business?

What are some of your own values in doing business and what do you like to pass down to others, particularly the younger generation?

So if you want to find out about my answers to above questions and 20 other questions, you can go to


http://www.soe.org.sg/files/interview20 ... =&c=&year=

SOE website is http://www.soe.org.sg

here's the comments from the Student Interviewers who interviewed me.

Interviewer's Comments:
Dennis Ng strikes me as a man of purpose with great visions and a big heart. His willingness to share can be seen through how he is willing to take out 2 hours out of his busy schedule, to give financial advice on Capital Radio on a weekly basis, as well as sharing his knowledge in financing for 2 hours on the Internet on a daily basis.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng
Site Admin
Posts: 9781
Joined: Tue Nov 29, 2005 7:16 am
Location: Singapore
Contact:

Post by Dennis Ng »

What are Some Challenges of Starting a Business?

I’ve been nominated for Spirit of Enterprise Award (SOE). This Award is not possible without your valuable contribution and support. Below are excerpts of the interview (SOE) had with me.

P.S. Spirit of Enterprise is an award to promote and honour entrepreneurship among Small and Medium Enterprises in Singapore. Nominees this year include Lim Hock Chee of Sheng Siong Supermarket, Ivan Lee of Thai Express restaurant, David Gan of Passion Hair Salon, Benny Chua of Choz, amongst other nominees.

Please help to support and encourage Entrepreneurship in Singapore. Please go to www.soe.org.sg to help vote for me, only those who get more votes get awarded. Total of 42 awards out of 156 nominees. Last day to vote is tomorrow 31 July 2007 (Tue).

Steps to register to vote:

Go to http://www.soe.org.sg/sg/voterregistration.php Key in your Name, Email and Password and Click Register.


What are some of the challenges in starting a business from scratch?

Of course, there are times we tried certain business strategies that didn't work out. As a Chinese saying goes: "the starting part is always the most difficult." However, if a person is really passionate, failure would not be an option, and they will never think of quitting. A famous example is Thomas Edison. Nobody in the right mind will do the same thing ten thousand times (in making the light bulb).

Successful people do not view failure as failure; they view failure as feedback to change what they do. They figured that something must be wrong, and needs to be changed. So they change and try again. If it does not work, they will change and try again. And if it doesn't work again, they keep on trying again and again until they succeed.

As adults, I think we are worse than toddlers. When toddlers learn to walk, do they tell themselves things like, "I'll try three more times, if I still can't walk, I'll give up."? Of course toddlers will not say that. If they did that, we will all still be crawling. So what happens is that they keep trying as many times as it takes to learn to walk. I hope many aspiring entrepreneurs out there would be inspired to keep trying until they succeed, just like what we did.

What are some of the things you have had to overcome to succeed?

When I was all prepared in year 2000, I realised that I resisted to tender my resignation. There was still this element of fear; of giving up the stable income for the unknown. If I leave, say I try out three years; can I still go back to the same industry? The answer is probably not, as I would be losing touch with the industry for that few years. Some of the things that I had to overcome is having to give up the security and move out of the comfort zone. I am lucky to have the full support of my wife. She is one of the directors of LEVERAGE HOLDINGS Pte Ltd.

However, I did not have support from my family: my parents, my brothers and sisters. They thought I was crazy to give up my job in the bank. I have a degree and I have a job in a bank. I am respected by people, people come to me, businessmen will buy me lunches, etc. They could not understand why I want to give up all that. I wanted to make a difference, and I can only do it in my own company. So one of the difficulties I faced was opposition from family members. They tried to "talk sense" into me. I told them in 1998 that I plan to do this in 2000 and asked them if they thought I was making an impulsive decision when I had a 2 year plan?

In What way can Education Level Hinder Entrepreneurship?

While education doesn't hinder entrepreneurship, it may be a burden at times. Like for instance, I have a degree and I have a comfortable job. So that may be a burden for me as I will then have a very high switching cost compared to someone who only have a GCE O' Level education.

For those who have lesser education, there are probably lesser job options for them and they may not be able to go as far if they are employed, so they tend to strike out on their own as they have "nothing to lose". This is why you see that a lot of the Chinese towkays out there in the past are not very educated.

In this sense, (formal) education can be a hindrance as someone who has a high education is likely to land up with a comfortable job and is thus dissuaded from being an entrepreneur. In Singapore, there are a lot of businesses set up in 2002 and 2003 when the economy is not doing very well. But if you look at last year when the economy is doing well, most people actually went to look for a job.

Please help to support and encourage Entrepreneurship in Singapore. Please go to www.soe.org.sg to help vote for me, only those who get more votes get awarded. Total of 42 awards out of 156 nominees. Last day to vote is tomorrow 31 July 2007 (Tue).

Steps to register to vote:

1) Go to http://www.soe.org.sg/sg/voterregistration.php Key in your Name, Email and Password and Click Register.

2) You will receive your Voter Verification ID XXXX and information on how to proceed via email. The email message will prompt you to go to this URL: http://www.soe.org.sg/sg/voterverify.php to key in your Voter Verification ID for first time voters and submit.

3) Once you have successfully verified your accounts, you can access your voting page at http://www.soe.org.sg/sg/voter/ and key in just your email address and password.

4) You can vote for minimum 5 to maximum 42 nominees. The nominees are listed according to alphabetical order. Eg. Dennis is under D.

My full interview with Spirit of Enterprise is at the following url:

http://www.soe.org.sg/files/interview20 ... =&c=&year=

Cheers!

Dennis Ng, http://www.HousingLoanSG.com
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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