Over the past 24 months I had re-constructed my career, re-organized and improved my financial accounts and had a few good holidays overseas, with my family and business partners. Overall, 2010 was a good year for me.
In the next few days, the Chinese will be celebrating the Year 4709 - the arrival of the Rabbit year.
What will the outlook of the Rabbit year?
If the sentiments of the people over the last few days were to be the guiding factors, it seems that 2011 will be an extremely trying and challenging year for many, including me.
Last night I had a dinner at a roadside stall with some friends at Cheras, KL. Beside the stall there was a Pasar Malam (night market). Having a good view of the crowds at the pasar malam it wasn't too encouraging for the stall onwers.
After the dinner we had some beers and we had the company of a few stall owners who were friends of my buddies. We had a nice discussion about their businesses and the economic scenarios. According to the stall owners, the sales over the past few months had drastically contracted by more than 30% as compared with last year. I asked them what was the reasons for the poor sales. According to the various opinions, the disposable income of the people had contracted; in general, there is less income and higher cost of livings - literally, the people have less to spent. Being a business consultant, I can observed that many companies do not pay bonuses this year; many companies are facing revenue collection problems, while many others are having anxieties over the possibilities of becoming jobless should the economic state persists.
It is going to be a trying and an extremely challenging year for 2011. Entrepreneurs must get prepared and seek out opportunities everywhere and beyond their current business portfolios. Businessmen must be more creative and innovative in order to thrive and survive. The old ways of doing business and the dependence on existing customers and clients aren't going to be sufficient. We have to extend the boundaries and scope of the businesses and to expand our network and operations beyond the known(s) - we had to get connected with the unknowns - to bring in new businesses from people we don't already know and to replenish the much needed revenues in order to survive. It's going to be hard and challenging; it's going to be a tough year, it seems to be.
For me, I have began that mission; and I had started to re-construct my business portfolios and pursue those goals. It is January now and I will have the full 12 months to get those results. The land of the unknowns are full of surprises. Hopefully, there will be some good surprises for 2011.
Whatever it is, we still have to enjoy and celebrate. It's Chinese New Year time; it's time to attend reunion dinners; it's time to give Angpows and collect Angpows too. It's New Year celebration. Gong Xi Fa Cai!