한국 Travels: #3

It turns out that my room mate is working for a company that deals with North Korea on a regular basis, advising them of "approaches" or "policies" to improve their situation.  We had a fascinating talk about the future of the peninsula and what it means for unification.  He also had a German background so it was also interesting to compare the possible unification in Korea vs the unification that happened in Germany.

Some interesting points:
1. The population split in S Korea vs N Korea is 50m vs 25m.  In comparison, the split of W Germany vs E Germany in 1989 was around (?) 70m vs 16m.  So the economic hit that S Korea would take to bring N Korea up to par would be a massive cost.

2. With that kind of shift in populations, then do you allow N Korea parties to participate in elections?   That was something I had just considered during that talk.

3. There is an active black market for the transfer of goods.  The problem is that with all the internal spying that occurs, one doesn't know whom to trust.  So two people doing exactly the same things might either get money or get thrown in jail.  Super tough to live in that environment.

4. It is China that is keeping country going, but it wants the country to be stable.  N Koreans are doing their own thing which is causing its own instability, which may lead at some point to China just saying "no more".  If that time comes, then we really may have a refugee crisis.

5. The desire for change will not come from outside, but from inside N Korea.  It is with all that black market trade that information comes into the country.  People get to see what is in the outside world and at some point in time, enough people will say "hey, this ideology doesn't work anymore, why am I sacrificing so much?" or the other extreme things get so bad that people won't care what the consequences will be.  There was an incident in 2009 when N Korea changed its currency, leaving everyone basically broke.  There was a lot of resentment of the government for that action so if something similar happens again it could be the reason for a mass movement.

6. With reunification, there is a massive need for infrastructure investment.  This could be a great opportunity for construction and infrastructure companies in S Korea.  For sure the government will subsidise the rebuilding.

7. There are significant mineral deposits in N Korea that can be mined.  I think the Chinese are doing that already.

8. Access to tourist areas in N Korea is not that off limits.  Might be worth a trip to go there.  Have to go through Beijing though but definitely possible.  Also there are some Singapore organisations e.g. Chosun Exchange that does work in educating the people on how to start businesses.  Might be worth exploring when I get back to Singapore.  Assuming my Korean improves haha

9. In terms of business, most males are allocated jobs in specific industries and sectors.  So they have to be there for certain hours.  It is actually the females of the family that have the ability to trade and develop a side business.  Actually it is what Chosun Exchange focusses on.

Very enlightening talks.

한국 Travels: #2

When I thought about places that would be challenging and interesting in terms of learning the language, Korea came to mind.  Funny enough I did not even consider Japan.  Goes to show (at least to me) the amount of cultural influence Korea has compared to Japan.

Having said that, I would generalise and say that I think Japanese people are much more polite than Koreans are.  I have been practising speaking Korean to random strangers in the street, asking for directions.  More than once I have been totally ignored, even once shooed off by the person.  My experiences in Japan would make doubt that it would happen to me there.  

My friend pointed out that it could be because I look Korean and hence people would just think I am accosting them.  If I looked Caucasian, I may have gotten a much more positive response.  It reminds me of New Yorkers thinking other New Yorkers are rude, even though I found them to be very polite and friendly.  My Asian looks and Australian accent there puts me totally in the "tourist" category and most people are by nature friendly to tourists.

Anyways, my 한국말 is slowly improving.  I can understand more in written form (because I have time to look up words) so my text game is getting better!  The university classes are good, they are picking up the pace, I am definitely in the right level.  The amount of vocabulary to learn each day is significant, I can see that if I don't review the words I will easily fall behind.

한국 Travels: #1

It has been a hectic 4 days getting into Seoul.  Firstly I arrive and go straight out to a club with a friend that lived in Singapore and now is living in Seoul.  It was fun, I got quite drunk and that was roughly the night!  However, I learnt a few things:
1. Some decent RnB clubs in Itaewon (이테원), need to check them out a bit more.
2. I have to admit that there are just a lot more good looking people around.  Half of this I am sure is due to the newness of it, but I was checking out more people.
3. I am still very scared of approaching people, guy or girl.  However, this must change.  A good thing my Korean friend told me from his travels in Shanghai when he didn't know anyone: he was able to speak "bar Mandarin", and it was purely just placing no emphasis on the result.  I need to live my "hard on the method, easy on the result" and extend it out to my bar behaviour.  Plus need to learn more "bar Korean"!

Met up with some friends over the week, with them I need to just speak more Korean.  I am looking to increase the channels that I use to meet people outside of study, things like Meetup, this app called Hi There, even Tinder is a good place.  Let's see what happens, but good advice from another friend:  It is Fuck Yes for Everything, at least initially!

Unfortunately I failed my Korean placement test, so I am in the beginner class.  So we are really starting from the basics, with pronunciation of the vowels.  Let's see how quickly this class escalates to talking full sentences.  Given the amount of talking that we do now (around 2 hours, with lots of practise time), I think it was the right choice to go to this 서강 대학.

I have also committed to 3 months boxing class.  The place looks good, the teacher was an semi-pro/amateur boxer who can speak some English.  I feel committed to it and will try to go 5-6 times a week and get ripped haha

So some things I have thought about:
1. This is a chance to be a different person in a different land.  "Why not?" should be the overriding question.  And if it doesn't mean some life threatening situation, probably good to try it.  That talk my Korean friend gave me feels like the talk my friend gave me AT THE END of my Sweden exchange.  Only this time it is at the start!

2. I need to maintain a good structure for work, when to do work and when not to worry about it.  This is also a good time to reflect on what I want to do going into next year.  Could be some job opportunities available back at Lend Lease.  Not sure if that is something I really want to do, but could be an option.

3. Really think in the language in order to learn the language.  This might mean more journals in Korean, or randomly asking people questions in Korean.  Just keep pushing to the "edge of fear"!

4. It will be over as soon as it gets started, so make the most of it.  Having said that, I shouldn't make it a pressure thing otherwise I won't enjoy the moment.  I have to sit back and think "wow!  I am so grateful to have made it here!"  There is a balance.

Outcomes

I made it to 300 posts!  I should print all this out and make it a book one day.  Would be good reading.

Talking to a friend, I came to a conclusion that the Pig Out event was fun in organising.  I was energised to make stuff happen, I was energised throughout the whole event.  It was some kind of "eustress" which felt like I was performing at a good level.  The ironic thing is that I was not that in love with the cause itself.  To me, whichever charity got the money (or actually didn't, since we didn't make enough) was not a huge factor in my satisfaction with the event.  At least this aligns with my life theme of "hard on the process, easy on the result".  But taking that to the extreme, it may mean that I don't care about any result.  Is that a bad thing?

My friend suggests to me the even greater satisfaction of finding something where I care about the result, would it drive me more?  Rational thinking would tell me yes, but my gut feeling is that it may not.

If the outcome is arbitrary to me, or rather, my feelings on the outcome are arbitrary, then the "utility" I get from working really hard on only one thing will not be as beneficial as working hard on many, different things.  Because at the very least, with different things, I get to have different experiences, different knowledge sets, different networks of people.  The growth for me as a person then becomes much greater, no matter what the outcome is.

It also follows that I should find someone whom I respect a lot, and believe that the outcomes they are aiming for are large and inherently good for society.  If I find such a person, then naturally I will put in my effort, and hopefully their outcome is a positive effect on the people around them.

I have been reading James Altucher's "Choose Yourself" series of books, and one area that I feel I am lacking in is a strong mental health.  And by mental health, I mean coming up with ideas.  I am good at building other people's ideas, but starting my own ideas is not as strong.  It comes down to using the idea muscle more.  I commit to starting this process tomorrow.  If I can build on my own ideas, that might make me more committed to those ideas, and the outcomes they produce.

Birthday Review

A birthday is usually a time to reflect upon last year and the year ahead.  What do I feel now that I have turned 37?

First of all, 37 feels old!  Still closer to 35 than 40, but if I was asked what kind of person would I be at 37 when I was 30, I would have expected a lot more "settled-ness".  I would have expected kids, or at least some stable relationship.  It is a testament to the power of social conditioning that I still have think of these expectations, even though my life is clearly not in that state, and I am quite happy to be in the state that I am now.  Good to have some fun with things like Augustman.

I think I could have pushed myself harder this year in terms of the business.  I do what is necessary but I don't think I have that strong a hunger to really make this business go.  It could be that I am hitting a barrier of how far "just doing a business for business' sake" gets me.  Also the realisation that Morganfield's is not our brand, so there is no real future to develop that brand, and that we are better off putting our efforts into another brand.  I am happy though that the business can operationally run itself.  That is one level of achievement. Now we just need it to make another 5-10% sales for it to make good returns.  I need to think more about what I really want in a business, not just what Jo wants.  That is a challenge.

I could have also pushed harder on working in the social entrepreneur space, with Aives.  But that one is not a lost cause, I think it will come back next year, and I may be in a better frame of mind.   I am glad that we did Pig Out, doing projects like that are really my alley, and at least I have started on my charity path.  Work for Bill Gates!

I think these next 3 years will be a good test of what else can be done.  As per the article on "Four Stages of Life", I am not yet quite at Level 3.  And I don't want to be a man child, although I think owning a business instantly makes a person less of a man child.  I do think now that there are many paths to achieving financial independence, not just one business.  So key to this is to develop businesses to run themselves, and acknowledge that as long as it is positive in cash flow, it can be time to move on to something else.  The issue here is that we are running out of capital, so getting some capital back from the existing business is critical.

I really think that Korea will be a good experience.  Time to reflect and review, and time to try new things.  Have to make the experience worthwhile, not sure how, but have that in the back of my mind.  Maybe one new F&B idea, or five potential investment partners to start something in Korea.  Generate the ideas each day.  Follow the 10 ideas a day training.

I would like to work more on my spirituality.  I am happy with the calmness I bring to my own life.  Perhaps more meditations?  Definitely continue to journal.

Health is ok.  Korea could be rough from a drinking perspective, make sure I don't overdo it.  Having an external incentive for gym like Halloween is the way to go!

Escape and Direction

A friend asked me a great question the other day about where I am in my life, especially with my decision to go to Korea for 3 months.  My reply is below:

"Your question on going to Korea as an escape did get me thinking.  The answer is yes and no :)  Yes, a part of me wants to take a break from this business and have some fun.  But am I running away from something?  I don't think so.  I read a book about the dynamics of Asia in the next 15-20 years.  The author forecasts that USA will still remain the dominant power in Asia, but there are challenges via Japan, China.  So the two nations that will help USA maintain their influence in the area are Singapore and Korea, which means that they will continue to get investment and support.  So I actually think Korea will have more opportunities in the future and if I can establish some networks there it could mean more business down the road.  One thing I want to keep in mind is how to make the best use of this experience and not for it to dissolve into some 3 month party.

Can the business run by itself?  After 2.5 years, the restaurant part can and does run by itself.  Sometimes well, sometimes not well!  We add value by keeping our staff motivated, working together and focused on the right things.  You are correct in saying that no one cares for the business as much as the the business owners.  But that doesn't mean that we don't try to encourage and make our staff want to take that ownership.  We are now at 30 full time people in this business!  We have to get multiple layers to manage themselves.  Having Jo in the business whilst I am away of course is good.  But ultimately we have believe that we can find people that are as dedicated to the business as we are and develop this people.  Otherwise we can never grow.

Where Jo and I are now trying to add more value is developing the business in new ways.  Opportunities like developing that retail arm, pitching for a food stall at F1, bidding for a new diner, these are the things that we are now focussed on.  Can they be done not in Singapore?  To a certain extent yes, although developing a design needs some visits to the location.

As to your question of being lost, yes I have those moments.  I actually think that comes with the flexibility that this business has given me.  The tough part is not knowing if any of these opportunities that we develop will actually get us anywhere.  There is also an element of uncertainty that what we do will actually increase our profitability.  So yes I think the direction can be sharpened.  But I feel at peace with what I am doing.  I am happy to be given the opportunity to make things happen.  And by "make things happen", it could mean anything from going to Korea to creating a charity BBQ event to building a new F&B brand.  Maybe that is all that I can ask for.  Just have to make them work.

There is an article that talks about moving from different periods in our lives.  I do feel that I go from Stage 3 back to Stage 2 and back to Stage 3.  Conceptually, I think I already committed to this business with the time and investment spent.  But I also need to understand what are the odds of these new opportunities succeeding and which ones I should pursue.  http://markmanson.net/four-stages-of-life

Thanks for asking me those questions and making me think.  And thanks for the offer of talking through Christianity.  It is something that I think I will have to find my own path for.  And who knows where that path will lead!"

Pig Out!

At last I am doing something charitable!  Pig Out is the outdoor BBQ event that Jo and I are holding, to donate the proceeds back to charity, Food Bank Singapore.  Food Bank collects unused and close to expiry food items and distributes them to Singapore's needy.  Given that we are in the food business ourselves, it is good match.  An even better match is that AugustMan is looking to create a food focussed event, which means we will get publicity firepower.

With events like this, everyone wants their say in the process, so the tough part will be bringing all the different parties together with a common vision.

Thoughts on my side:
1. I am ok with Food Bank, but the reality is that any food related charity works. Perhaps the greater truth for me is that I just want to organise it, I don't really care where the money goes.  Sad but true.
2. We have to make this at least cost neutral for our company.  That means being smart about the expenditure, and probably getting more companies involved for the manpower, as that is the most expensive cost.
3. What I learned from BJ is that we should never be afraid, if not brazen, to ask for support, .  If we believe in doing this event, then others will be inspired as well.
4. Make it small enough that it will succeed, but make it ambitious enough that we fear that it may fail.  That edge is what will drive us.
5. I need to personally market.  Starting with the magazine but also spreading it to my friends.  A good test for my PR skills!
6. I need to take charge of the event and make it mine.  Yes take in the feedback, but I will make it happen!

This will be fun.  Much like how that outdoor dance party was a madhouse, I have a feeling this could turn big.  But we need to start marketing as soon as possible!

80/20 Items

Re-reading the 4 Hour Workweek, there is a section about elimination, both of the excess junk as well as the excess activities in my life.  I focussed on the junk part recently and it was amazing how much crap I do have, even in one half of an apartment.

I would consider myself a neat person, but I realise that the neatness meant the stuff was well stored.  It was still a lot of stuff that in reality meant little to me.  I have gone through toiletries, my cupboard, the outside cupboard, my documents and produced a good three garbage bags of stuff.

Some troubling items:
1. Documents meant for the business.  I am not sure what needs to be kept for this.  The better approach would be to scan everything but I am too lazy.  So I couldn't move much out of this.

2. The books that I have.  So many good ones, and ones that I continue to re-read.  Not sure what to do here.  Perhaps I get them onto Kindle.  Or maybe a better thing is to stop re-reading for re-reading's sake and read new things!

I still have a way to go, especially on the IT front.  Lots of spare cables lying around the house.  A Playstation, Xbox and old games which I never use.  A DSLR camera I hope to get some money for.  If I can sell some of these items, it will help fund a part of the Korea trip.

I am sure I can be even harsher on the requirements.  Question to ask: "does this item make me happy?"  If not, I should get rid of it!

I should do this "cleansing" more often.  It's too easy to keep unnecessary stuff.  I think if I moved out, I would keep going for a relatively small place, to make it harder to hoard.  Having kids may lead to different requirements!  Although I read that a kid has on average 200 toys but really only plays with 10?

Lynn told me that a theme of hers is "live simply".  A good theme to follow.

Publicity

Having been nominated for a magazine's "list", it has made me realise a few things:

1. I do not do much publicity for my personal brand.  Yes I have brands that I promote (Rewind, Morganfield's), but not about myself.  This is probably a function of my own perspective of being humble about these things, preferring for people to experience the brands themselves instead of knowing them through me.  With this magazine opportunity, it is good to have some more recognition, in order to gain a stronger network

2. In order to fully leverage this opportunity, I have to improve my "on screen" ability.  That means more clarity of thought during interviews and other times when I am in front of a group.  A lot of it is just slowing down the speaking, so that I can sound more measured.

Keep focus on the following:
1.  Embrace the opportunity.  Want to be involved, want to meet new people, want to learn to do it better.  Much like language learning, there is a very high likelihood of looking a bit foolish, but why not?

2. Demonstrate my values.  Answer with respect to the people around me, appreciate the good qualities that everyone has at least to some degree.  No need to display showmanship, just self-assurance. Be grateful for being in a cool event with some potentially good people.

I am looking forward to the photo shoot!  Strong jaw line!

Setting The Right Structure for Overseas

What are the key objectives when I am overseas?

I must limit the face to face interactions but also set up the necessary structure to get the right information to the right people.  Start off be limiting time in the outlet.

I must be able to batch decisions into a timeframe so that I can do a lot of work at once.  Try to avoid making on the spot decisions, instead give staff the authority to make a decision up to a certain cost.

I must not be the bottleneck for information or decisions.  Hence all reference guides and where to get items (especially IT) need to be up to date.

I should give Mary the ability to sign cheques up to $5K, so that suppliers and minor cheques can be processed easily.  She should get GIRO access?

I must be prepared to let go, and even be prepared for no income from the business.  Just because this is my current income does not have to make it the only one.

I must still be able to watch the business.  Focus on the P&L, Monthly Reports, COGS, Sales Mix.

Do not work for work's sake.  Find things to do outside of the business.  Consider new business ideas, new directions.

We must be financially solid before I leave, so that we can pay our suppliers properly.  On the flip side, we should push for more 60 day credit terms.