Teo also noted that when she just started her business from home, staff and clients had to drop by her house.
“There would be times when working from home was not feasible, like when my kids were all home or when clients prefer absolute privacy, so in those instances, I would pay an hourly rent for a space.
“That became an extra stress as I was constantly looking for a space that was both accessible and available for each coaching session. It was only after my coaching practice had grown that I decided it was worthwhile to get a co-working space membership,” she said.
TIP #6: BE NIMBLE AND FLEXIBLE
As a business owner, it is important to move with the times and changes in the market, and know when to shift direction for your business.
Tan had first started Ubermums as an online and retail business but transitioned it into a fully online business a year and a half later.
“The challenge with a retail business is not only in costs and staffing but also in stocking and managing large inventories. Moving it online allowed us to be nimbler, have a store that is open 24 hours with an international reach, have more control over quality and introduce new designs and products easily,” she said.
Tan also changed the direction of her business from maternity and nursing wear to focus on breastfeeding covers as the former’s market was very competitive and she saw a niche market for nursing covers. During the pandemic, Ubermums also diversified into supplying face masks.
“Do not give up and be nimble if you need to change your business direction in the midst of your journey. It is never a wasted experience,” she said.
Tang, too, had to change Precious Purple’s business focus midway.
Her business had initially started on reselling customised gifts but demand was poor and she decided to switch to baking, which was also a personal passion.
Since its 2019 inception, Precious Purple has diversified to other baked goods like Indonesian lapis and Swiss rolls, cookies and kueh. Monthly sales can reach $1,000 and during the festive season, sales can be higher.
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