Why F&B in Singapore Can Be Challenging
For many in the F&B industry, the dream is to find a profitable niche and then scale quickly. But as Chua Ee Chien learned, that strategy can be a fatal mistake, especially in Singapore. He argues that the country's unique market forces businesses to thrive at the extremes—either as a high-end destination for those with money to spare or as a low-cost hawker stall serving the masses. The "middle ground," where you compete with everyone and their mother, is a place where businesses "go to die."
His own experience serves as a cautionary tale. He admits that his business, which started with a single outlet, made the critical error of expanding too quickly, a common tendency in Singapore. This over-eagerness, he believes, is what "killed" the venture. He learned that being "fickle" is a Singaporean trait, and without an effective strategy to combat it, even the most promising concepts can fade away.
The Unsung Heroes of Success: Hard Work & Resilience
"Quiet Quitting," Ee Chien's message is a refreshing reminder of the old-school virtues of hard work and unyielding resilience.
He argues that these are the skills that ultimately allow you to adapt and survive. He recounts facing a 60% increase in cooking oil prices and a 30% jump in a chef’s salary in just six months—insurmountable challenges that demanded more than just a good business plan.
His philosophy challenges the idea that a successful pivot is an act of pure genius. Instead, he believes it is born from the gumption to push through and the wisdom to recognise a new opportunity when it presents itself. He learned that even if you have the intelligence and capital, without resilience, you won't be able to pivot and try new things.
The Maverick's Journey to Finding Joy
Ultimately, Ee Chien’s journey is about more than business; it's about personal growth. It's the story of a man who moved from a "good white-collar job" to a venture he found on a website and then back into the corporate world. His key takeaway is simple: don't do what your mother, father, or society expects of you. Do what you genuinely enjoy.
He reflects on how he learned more in three months at Uber than in two years at a prestigious bank because the work was "super fun" and provided an environment where he was constantly learning. This search for enjoyment and new experiences has defined his journey and continues to guide him as he explores new opportunities in the fast-paced world of AI and Web3.
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