7 tips for starting your own business – from successful Singaporean women

Teo also noted that when she had just started her home-based business, staff and customers had to drop by her.

“There were times when working from home wasn’t possible, like when my kids were all home or when clients preferred absolute privacy, so in those cases I would pay hourly rent for a space.

“It became an additional stress because I was constantly looking for a space that was both accessible and available for each coaching session. It was only after my coaching practice grew that I decided it was worth joining a coworking space,” she said.

TIP #6: BE AGILE AND FLEXIBLE

As a business owner, it’s important to keep up with the times and market changes, and know when to change direction for your business.

Tan initially launched Ubermums as an online and retail business, but turned it into a fully online business a year and a half later.

“The challenge for a retail business is not just about costs and staff, but also about storing and managing large inventory. Bringing it online has allowed us to be more nimble, to have a 24-hour store with an international reach, to have more control over quality, and to easily introduce new designs and products,” said she declared.

Tan also changed the focus of her business from maternity and nursing clothes to focus on nursing covers, as the market for the former was very competitive and she saw a niche market for nursing covers. feeding with milk. During the pandemic, Ubermums has also branched out into providing face masks.

“Don’t give up and be nimble if you need to change your business direction in the middle of your journey. It’s never a wasted experience,” she said.

Tang, too, had to change Precious Purple’s business focus halfway through.

Her activity had initially started with the resale of personalized gifts, but demand was low and she decided to turn to baking, which was also a personal passion.

Since its inception in 2019, Precious Purple has branched out into other baked goods like Indonesian lapis and Swiss rolls, cookies and kueh. Monthly sales can reach $1,000 and during the holiday season sales can be higher.