Thinking in terms of employment, one easily identifies the doctor and lawyer professions as the kind of employment that makes more per hour than laborious jobs such as plumbers and toilet janitors.
Similarly in business, there is the “white collar” and “blue collar” differentiation, i.e. certain businesses reap rewards that are naturally higher than others per unit time invested.
An example of the white collar business is the light outfit family office that manages the wealth of ultra high networth families, a business that a close friend of mine was recently employed into.
Blue collar businesses typically involve manufacturing and crafts etc.
This is easily understood if we consider how China has been, for quite some time in fact, shifting the nature of its economy from a manufacturing one to a service based one. Whatever that means right?
Also, consider the recently featured young gentlemen becoming plumbers, marketed as being willing to do the dirty jobs that only the aged, supposedly, are willing to do. No amount of contemporary digital marketing associated with the “new age” is going to allow them to call a supernormal price of two or three times the market rate per unit of their labour.
Therein lies the complications of starting up a business. At the end of the day how much a businesseur makes is all that matters towards achieving success.
Starting a business in Singapore?
Only upon success will one earn the rights to having his story empathised with, and even marketed for by others on their own accord for free. Otherwise, every other person we brush our shoulders with in the subway has their own story to tell; some are really sad ones that no one cares about.
Why should anyone support your business on the basis of how hard you have worked? Everyone else is working equally hard.
The real point: if one’s passion happens to fall within the “blue collar” type, your own business might just end up killing your passion; not passion winning the day and making money for you.
Leveraging on passion to kickstart your business