Editor’s Note – Diversification

From the Editor

Shaun Hoon

It is both admirable and inspiring to see a businessperson on the cover of a magazine. Donald Trump, Lee Ka Shing, and Michael Dell all enjoy celebrity treatment that staggers the imagination. People young and old, take note of every word they have to say and emulate their every action.

As a result, the media loves to glamorise successful entrepreneurs, because they represent the hope of ordinary people that one day, they too could enjoy the same level of fame and fortune, ‘just like Mike’.

This, however, is not the objective of this issue.

Being in business can be one of the loneliest and scariest journeys that any person can experience. If the business is not managed properly it could make you bankrupt. When this happens not only will you have to bear the consequences of your business failure, but your family, your employees and their families will also have to suffer as well.

If statistics are anything to go by, only one in five businesses survive to the end of their second year. And then, only one in five of them will still be around by the end of the fifth year.

In other words, for every success story you read about on a magazine cover, there are hundreds, if not thousands of people behind the scenes who have failed. Not because they have not worked hard enough but often as a result of external factors that they have no control over.

Why then, do we promote entrepreneurship in this issue?

It is exactly for the reason that it is difficult to succeed in business and most people fail when trying to start a business. We want to recognise those few people who are doing ‘it’ right, so that we can all learn from their success and their mistakes.

The cover of this issue highlights the word: DIVERSIFICATION. It is a carefully selected title that depicts the mandate of our country as it heads towards 2035. It is no secret that our natural resources will run out one day, and the only way to sustain a vibrant economy is to make sure that it is one in which businesses flourish because of the capacity and productivity of its human capital.

Incidentally, the cover feature is the perfect case study for all businesses to consider, which hits on the note of Diversification. Ms. Wan Krisnadi with her businesses demonstrates that there are opportunities on the international Halal market, and why Brunei has an edge over the other countries in this area.

We’ve also dedicated a large section of this issue to discussing Franchises and Technology, because we believe that they are two of the key driving forces behind any thriving economy. Together, they make a strong case for a prosperous and diversified economy.

Owning a business is not for everybody. It requires tenacity, hard work and a lot of luck. If the facts presented in this article do not discourage you from starting your own business, then you may possibly have what it takes to get in the game.

It will not be easy, but the rewards will be worthwhile.
Good luck!

This article was published in the Jul-Sept 2014 issue of Inspire Magazine. Download it here!