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Results And Beliefs

>> Monday, October 24, 2011

Recently was speaking to a top sales consultant and his views completely blew me away.

One main point that he explained was about results and belief. He said that too much emphasis is placed on past results. Our beliefs are often formed from results we have seen and experience. In sales, if we have been achieving an income of 2k monthly, we will think that we can only achieve incremental performance and not 20k next month. But look at Apple, it was never in the handphone business. It was taking on established giants like nokia and motorola who took 10 years, hundreds of phone models and refining phone features to build their positions. Apple wanted to do it in half the time, with only 1 phone model and a phone that has only 1 button! It would have been assumed to be insane then but look where they are today. Even when driving, it is important to look behind but majority of the time we should be looking in front. Results should not form wrong beliefs, the right beliefs should drive results instead!

Much emphasis has been placed on looking at fund performance history. Technical analysis is looking at the past as well. To make the huge difference is to look at companies with an exceptional vision and the capability to deliver to have that quantum leap.

On a side note, I personally feel that the Singapore government is lacking in this area now. When Singapore gained independence. It was also assumed to be madness to be able to survive. LKY was a visionary to model Singapore after successful countries and made it what it is today. A flourishing place with the most millionaires, taking her from third world to first in 30 years. However, today, Singapore is at the forefront. She cannot be learning from more backward countries. She should be setting the standard. Recent parliamentary debate focused on housing, transport and healthcare cost. However, no concrete proposals were discussed, just promises yet to be seen. We require bold leaders to think out of the box, do things that others haven't, set the new bar. Housing, how about skyward downward seaward, instead of simply building more on limited land. Transport, how about sea or even sky means, instead of planning more mrt tracks. For healthcare maybe even having it free with compulsory insurance. Well, I am no scholar and can only come up with this within 5 mins. How about full time million dollar salaried ministers with a wealth of experience and education?


Singapore Man Of Leisure October 25, 2011 at 3:16 PM  

Hello Lau,

What you are saying is true... It can apply to US, UK, and much of western Europe too... I believe US must miss Ronald Reagan, and UK miss Margaret Thatcher...

I met an elderly Austrialian couple (during my recent vacation) who were exasperated with their existing minority Labour government and their budget deficits (that's what you get for a divisive parliament). They miss the John Howard Liberal-National coalition and their prudent budget surpluses.

I think that's the "curse" of plentiful resources. When we have limited resources, we have to be "creative" and "innovative" to survive. But when money is plentiful, we tend to throw money at problem and rely on past glory solutions...

Anonymous October 25, 2011 at 11:17 PM  

very well said...totally agree with you

Lau October 26, 2011 at 9:39 AM  

Smol, I like how u phrase it. Throwing money on past glory solutions. The population is hitting 6 million. Overcrowding on roads, mrt, buses, housing issues, flooding, possibly even food, water and power shortages in future is foreseeable. Not many places in the world faces such a problem of people per land area. Innovative solutions are a must for the future.



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