This article delves into the career experiences of an individual who has worked in the corporate world, owned a business, and driven a taxi/private hire vehicle. We'll explore the differences in stress levels, freedom, and income associated with each role, based on the speaker's personal journey.
A Quick Break for Firefly Squid
Before diving into the details, the speaker mentions making a reservation at Sushiro to enjoy the seasonal firefly squid sushi. It seems to be a favorite dish, and the speaker wanted to ensure they had it before it was gone. Some other dishes were sampled, including Japanese sardine, and commented on the authenticity of the wasabi.
Comparing Career Experiences
Corporate Worker/Business Owner (Boss)
The speaker reflects on their time as the boss of a small company dealing with intellectual property rights, such as trademark and copyright registration. At its peak, the company had a staff of eight and offices in Arjunit and later Ubi Oxybut.
Stress Levels
The stress level associated with being a business owner was high. Key stressors included:
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Cash flow: Managing money coming in and out to cover expenses and generate revenue.
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Staff-related matters: Ensuring salaries were paid on time with CPF contributions and handling annual appraisals.
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Company Growth: Focusing on company expansion, overall direction, and marketing strategies.
The speaker personally handled marketing, including SEO to rank their company's website high in search results. They also traveled extensively for networking and securing corporate clients. Monthly expenses were significant, easily reaching $30,000 for rental, business expenses, and staff salaries. The amount of time and effort required to sustain the business was substantial.
Income as a Boss
The speaker's income as a boss was variable. They drew a fixed salary (around 2-3k, exact amount not recalled) for CPF purposes and also issued themselves dividends for tax purposes, depending on the company's profit. Overall monthly income could be around $7,000-$8,000. However, the speaker acknowledged that many managers in larger companies likely earned more, given the high expenses of running a small business.
Taxi/Private Hire Driver
The speaker then compares this with their experience as a taxi/private hire driver.
Stress Levels
The stress levels associated with driving were significantly lower compared to being a business owner. The primary concern was covering daily car rental and earning enough for personal bills. The speaker expressed the ability to "catch up" on income the next day if one day was slow, in other words, a short sighted issue. Stress was described as dropping from 100% to 5-10%.
Cash Flow
The cash flow was also different. Car rental was deducted daily, so there was no need to worry about monthly cash flow projections. Unlike the company, where payments from clients could take up to 90 days, income as a driver was more immediate.
Growth and Responsibilities
As a driver, there was no need to worry about growing a company, building a brand, networking, or securing new clients. The focus was simply on earning a living.
Income as a Driver
The speaker currently earns around $3,000 to $5,000 per month as a driver. Income is more consistent but can decrease by 20-30% during school holidays (June and December). Averaging out the months, the speaker estimates a more conservative take-home pay of around $4,000 per month.
Why the Transition?
The speaker addresses a viewer's question about why they transitioned from being a boss to driving a taxi. After their company wound down, they briefly worked for their former boss at a law firm. However, their expectations regarding the job role (marketing vs. sales) did not align, leading to a parting of ways after a year.
Needing money quickly to pay off company debts, the speaker turned to taxi/private hire driving, which was in high demand at the time. What started as a temporary solution became a full-time job.
Future Prospects
The speaker stated that they would probably not return to a corporate job, being accustomed to the lifestyle and feeling that they would be competing with a younger generation. This lifestyle suits them, and they plan to explore other avenues for expansion.
A Final Shoutout and Pasamalam Thoughts
The speaker gives a shoutout to another viewer, Alex Go. The speaker notes the high prices at a local "Pasamalam", a Singaporean night market.