GoSME: Recent Episodes
Vanillaresource
GoSME is a unique online interactive community of ambitious business owners with a world wide view. We recognise that in order to seek top-line growth and improve profits, business owners need to foster 2-way Trading and Trust Collaborations with partners all around the world.
In the 1st Episode, Jonathan, a Gen Z, shared his observations of how SMEs frequently lose opportunities to work on larger projects (as a result of the lack of resources and expertise).If only there is a more efficient way to look for different skill sets to collaborate with, then the project rewards can be shared around.If you are a gamer, you will be well aware of the MMO [Massively Multiplayer Online] strategy (where gamers come together with different skills to achieve common objectives or overcome challenges within the game.The GoSME APP is similar to SMEs with varing expertise joining forces to tackle larger projects, much like the gamers.We like to think that projects can fall into any of the 5 domains :• Sales & Marketing• Operations• Human Resources• Finance• Legal & ComplianceWe are a community driven app, aiming to create a network of SMEs that can connect together anytime and anywhere. We don’t want to sell just another business networking platform like LinkedIn, but rather an idea that in the future all SMEs around the world can be connected on a single platform. This is extremely exciting because not only does it speed up and make collaboration so much more efficient, but it allows any SME to function like an MNC, with connections all around the globe.✅ Subscribe to our YouTube Channel for more business tips and insights:-https://www.youtube.com/channel/UCeRIR3FSqOMoSPeJJSbhNJg👉🏻 Download GoSME app now & connect with SMEs worldwide effortlessly.Available on Google Play: https://play.google.com/store/apps/details?id=com.gosme.biz.gosme&pli=1Available on Apple Store:https://apps.apple.com/sg/app/gosme/id1564060138?platform=iphone#connection #branding #business #SmallBusiness #StartUp #DigitalNetworking #technology #PostMatchRate #AnytimeAnywhere #BusinessMatching #EmpoweringBusiness #Vlog #GoSME
Welcome to a unique journey into the heart of the small and medium-sized enterprises (SMEs).In this compelling new vlog series by our Co-Founder, Jonathan Goh, he shares his personal experiences through observing his parents' business, the realities, challenges, and triumphs of running a business.✅ Subscribe to our YouTube Channel for more business tips and insights:- / @gosmeofficial 👉🏻 Download GoSME app now & connect with SMEs worldwideeffortlessly.Available on Google Play: https://play.google.com/store/apps/details?id=com.gosme.biz.gosme&pli=1
Available on Apple Store: https://apps.apple.com/sg/app/gosme/id1564060138?platform=iphoneGrowing up in a family run business, I saw how my dad struggled to grow his law firm.In what way? Because he was a one-man show, he only had the resources to specialise in one area of the law.This meant that he had to turn away many bigger cases which were highly complex and involved many areas of law.I noticed many SMEs struggle in two ways:1. They choose not to specialise and overestimate the amount of work they can handle.2. They specialise but then lose a lot of potential business andopportunity cost.Many SMEs therefore develop their own internal network of business friends to help share the work.My dad would work with other lawyers specialising in other areas of the law, allowing him to take on bigger cases.Many small business practice this too. For instance, during my time volunteering at a local food bank, it helped me realise that providing food to the homeless is typically not the work of just one business alone, but a collaboration of multiple businesses. One business runs the shop, the other organises the supply. Even local pubs often collaborate too. Often pubs are severely understaffed, and they require agency companies to supply them with the human resource.The main problem lies in the fact that SMEs find such business partners too taxing and time-consuming. Physical networking feels like kissing many frogs to find the RIGHT prince. Time is precious, and many SME bosses are also young. Like me, we value work-life balance and don’t want to waste away our youth grinding out work when technology allows us to be far more efficient. This is why we developed GoSME, to help streamline and help SMEs find their partners in a more efficient way.#connection #branding #business #SmallBusiness #StartUp#DigitalNetworking #technology #PostMatchRate #AnytimeAnywhere #BusinessMatching #EmpoweringBusiness #Vlog #GoSME
Have you ever lamented that, whenever you have to discuss your legal matters with your lawyer, you feel a sense of disconnect, not just on the legal jargon but also on legal concepts.
Perhaps an insight into the mind of a lawyer will help business owners narrow the gap.
Listen to the podcast as Mark shares how he has introspected and changed his way of thinking as an entrepreneur to move in tandem with the ever changing business world.
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“Mark, your small business suffers from days between feasts and famine, whereas in a large company, this is something you will never have to experience again.”
If someone said this to you, as a business owner, will you likely, be disheartened and throw in the towel? It's obvious that Mark didn’t because after more than 26 years running his law practice and weathered through 5 global recessions, he has not succumbed to that statement.
Listen to the podcast as Mark shares how he has introspected and changed his way of thinking as an entrepreneur.
FOLLOW US
Website : https://www.vanillalaw.law/
Whatsapp : +65 8303 7997
Telegram : https://t.me/vanillalaw
Linkedin : https://www.linkedin.com/company/vanillalaw-llc
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Facebook: https://www.facebook.com/vanillalaw
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vanillalaw #vanillalawdocs #gosme #smallworldbigthinking #plainandsimple #businessgrowth #entrepreneur #negotiation #mediation #collaboration #sme #ecommerce #digitalfootprint #digitalrevolution #creativeindustry #technology #informationtechnology #creative
After more than 26 years of practise as a lawyer, Mark has advised, worked with, and walked alongside a billionaire and a few other multi-millionaire businessmen and he can confirm and attest that all of them are very lonely and unhappy once having achieved what they started out to do. Their main and constant gripe to was that there was no one whom they could trust.
Hear from Mark as he shares how he has introspected and worked through the conundrum so often faced by successful business owners.
FOLLOW US
Website : https://www.vanillalaw.law/
Whatsapp : +65 8303 7997
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Facebook: https://www.facebook.com/vanillalaw
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Spotify : https://open.spotify.com/playlist/5dGbAyat09GTvXlEpYSbwN
vanillalaw #vanillalawdocs #gosme #smallworldbigthinking #plainandsimple #businessgrowth #entreprenuer #negotiation #mediation #collaboration #sme #ecommerce #digitalfootprint #digitalrevolution #creativeindustry #technology #informationtechnology #creative
To hire or not to hire? To outsource or not to outsource?
I have had my fair share of "slings and arrows" and made costly losses with outsourcing and also direct hires. Reflecting on the losses, I realised that placing my reliance on their domain expertise, was basically signaling to them that I was giving them carte blanche to exploit my ignorance. But there is no escaping that as a business owner, I have to hire or outsource parts of the work to others.
Listen to the full length episode where Mark, Founder of VanillaLaw, shares how he has run a sustainable business for the past 2 decades.
Subscribe to the firm's Spotify channel to get weekly insights into the mind of an entrepreneur-lawyer who has navigated his business successfully through 5 global recessions (pre-covid).
Many know Mark has a passion for cycling. He has another passion in reading, his favourite being C S Lewis. The latter has aptly married bicycles with the 4 ages of business. Watch the full vlog to discover Mark's journey through the 4 ages in running his own business.
Listen to the full length episode where Mark, Founder of VanillaLaw, shares how he has run a sustainable business for the past 2 decades.
Subscribe to the firm's Spotify channel to get weekly insights into the mind of an entrepreneur-lawyer who has navigated his business successfully through 5 global recessions (pre-covid).
In the world of corporate finance, the phrase "OPM" is an acronym for "other people's money". Banks and other financial institutions do this all the time. As business owners, finding money for growth is a big challenge for, scaling their companies. When and how should we use other people's money?
Listen to the full length episode where Mark, Founder of VanillaLaw, shares how he has run a sustainable business for the past 2 decades.
Subscribe to the firm's Spotify channel to get weekly insights into the mind of an entrepreneur-lawyer who has navigated his business successfully through 5 global recessions (pre-covid).
“Change Your Business Tyres” is a common saying which describes a business owner who is concerned only with the day-to-day operations of his business, but who does not pay attention to the growth strategies of his own company.
This requires a business owner to plan and deliberately stop what he is doing for a while, reflect and plan for the next phase.
All too often, business owners interact with lawyers only when their company is in trouble (i.e. when the “tyres” run flat). ). Very few are enlightened and have the discipline to bring their growth plans to their lawyer who can then advise them and help them build safeguards.
Perhaps it's an issue of saving a few dollars? Why wait till a disaster happens to engage a law firm? By which time, they face the prospect of huge legal fees on top of their mounting economic woes. Why not take a safer route by planning for growth and engaging your lawyers to manage the risks before a disaster happens?
Listen to the full length episode where Mark, Founder of VanillaLaw, shares how he has run a sustainable business for the past 2 decades.
Subscribe to the firm's Spotify channel to get weekly insights into the mind of an entrepreneur-lawyer who has navigated his business successfully through 5 global recessions (pre-covid).
Why is getting access to finance the #1 problem for SMEs around the world? What is the gap between financiers and business owners?
Most financiers actually do not care too much about your business. They are only looking at 2 things: SECURITY and RETURNS. One of the ways to ensure and protect this is to assure the financiers that the CORPORATE GOVERNANCE within the business is robust.
Another possible solution is the use of TRUST INSTRUMENTS. Many financiers believe that if the business owners have their "skin in the game" in terms of some form of security, this will ensure compliance and mitigate their risk in case things turn out bad.
Listen to the full length episode where Mark, Founder of VanillaLaw, shares his musing.
Subscribe to the firm's Spotify channel to get weekly insights into the mind of an entrepreneur-lawyer who has navigated his business successfully through 5 global recessions (pre-covid)
Recently, our firm's Head of Marketing explained to me that in order to stand out in a crowded online market, we need to articulate our values. Her point was substantiated by research. In principle, I agree.
However, the problem I see is what is in reality and how to execute this (value).
Many years ago, I committed VanillaLaw to serving the SME community and embracing a single-minded value of keeping things "plain and simple". That means a reduction in fees and loss of opportunities in getting complex work, that all law firms desire. Logically, and from what I have explained about being boxed into a label, it would have been a bad idea!
Yet, and somehow after 26 years, we far exceeded our own plans and expectations. I have come to accept that in business some things are not logical. It takes a certain amount of FAITH and COURAGE.
Listen to the full length episode where Mark, Founder of VanillaLaw, shares his musing.
Subscribe to the firm's Spotify channel to get weekly insights into the mind of an entrepreneur-lawyer who has navigated his business successfully through 5 global recessions (pre-covid)
As an Asian and a businessman, it would be odd to argue that Guanxi is dead. It's a power play between "actors" revolving around a hierarchical structure based on Confucian ideals around family, community and state. By relying on such power systems to operate, it will be near impossible for these businesses to grow in this digital age.
How, then does “Guanxi” interplay with 'Globalization” , if at all there's an intersection?
Listen to the full length episode where Mark, Founder of VanillaLaw, shares his musing.
Subscribe to the firm's Spotify channel to get weekly insights into the mind of an entrepreneur-lawyer who has navigated his business successfully through 5 global recessions (pre-covid).
I have to credit my friends Kathryn and Kristy Definitionconsulting for teaching me their “So What?”
There is news that business travel will not recover until 18 months time, so what? Small businesses are the worst hit in this pandemic, so what? #harrymegan have scandalised the Crown, so what? Vanillalaw maybe the leading law firm for SMEs, so what?
My gurus Definitionsconsulting have taught me that all of these statements mean squat, if they do not mean to help people solve a problem or enable them to do something.
If we are to matter to anyone, we need to listen, and listen carefully. Unlike a litigator, negotiators do not talk. They are trained to listen and find solutions that matter to both parties, not just one party. In an M&A deal negotiators will not make statements that a clause has to be there because that is the industry template. They listen and understand what maybe the underlying risks and how those may be mitigated so that the deal can be made successful. Unlike lawyers, negotiators do not advertise themselves as having the ability to cut down an opponent.
As a litigation lawyer with hundreds of cases under my belt, I have committed the sin of looking at my past achievements, but never stopping to ask So What? I am blessed to have friends and teachers like Definitions to show me that I have much to learn. So What? Well, if someone as entrenched as me can be open minded enough to learn new tricks, then it matters that small business owners have to be open minded, in order to succeed in this digitally connected world!
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As a firm, we strive always to have empathy for our clients, learn more on our client centric approach HERE
Perhaps you are wondering why a law firm is promoting this topic? Shouldn't we be discussing topics around the law? Yes, we should, but here at VanillaLaw, as corporate lawyers for the business community, we believe Business comes before the Law.
As a law firm, we, too, are business owners. We share the growing pains of any business owner. Sadly, there are no band aids for growing pains. The success of any business largely depends on how its leaders think.
Start thinking right about your business so that we can be an effective partner for your growth plans towards a successful business.
Subscribe to our Spotify channel and follow the musings of our Founder, Mark Goh.