Elaine Chow's Social Links
Elaine Chow is a lifestyle entrepreneur, business coach, and speaker, as well as the founder of New Rich by Design. The 2006 Nan Chang University graduate founded her first entrepreneurial endeavor, an organic food business, at twenty-five. Since 2006 she’s worked in a variety of Human Resources positions, for companies including Splendour Corporation, SPT Group, and Securitas Security Services USA.
In August 2009, Chow founded New Rich as a platform for sharing the lessons she’s learned and philosophy she developed over years of experience in entrepreneurship and human resources. After years of seeing working professionals unhappy with their work, dissatisfied by the pace of their career progression, and unable to find a fulfilling work-life balance, Chow is determined to share what she’s learned to help others live happier, more fulfilling lives. In addition to her New Rich training programs, the Singapore-based entrepreneur shares her knowledge through speaking engagements and business coaching. She is also the author of New Rich by Design, published in December 2014.
In addition to her work through New Rich, in 2015 Chow launched the Woman Entrepreneur Campaign, an effort to support and empower female entrepreneurship.
Companies and Investments
New Rich Builder (Founder, CEO), Women Entrepreneur Campaign (Founder), Securitas Security Services USA (HR Manager), SPT Group (HR Manager), Splendour Corporation (Senior HR/Admin Executive)
I had made lots of mistakes in my business, firstly, delegation and outsourcing is crucial for business owners. When I first started my organic food business, I was trying to do everything for myself and I worked almost 12 hours every day, I thought I would save a lot of for the company. But actually I felt that I was dragged down by the “everything” and daily routines and I was dried up.
Secondly, focus on the value provided to clients, not chasing money. When you exactly understand what your client wants, and you provide a specific solution for them, your income will come. But at that time, my team and I were only concentrating on how we could generate more income, and what other platform to get more revenue, but we were not really looking into the “hot button”—solution, that was why we failed in the organic food business. When you provide a value, provide a specific solution for your clients' problem, and your money machine will 'auto run'.
Thirdly, the biggest lesson I learned, it is positioning. Why people do business with you, how to sell, it is all about how you position yourself and your business. At that time, we were trying to sell to everybody, targeting every market segments, but actually when you are trying to sell everybody, NOBODY is your actual customers.
Fourthly, before you make money, you have to invest in yourself first, get yourself a mentor or coach, life and business, as their validation experience and insights will be extremely useful to you and will save you from a mistake which is not necessary to make, as well as save you a lot of time to generate your greatest results. That is also the reason after my first organic food business failed, I immersed into trainings, books, gurus and experts and so now have 3 coaches for myself.
Last but not least, your network is your networth. Spend your time to nurture your highest network, connect with them at least every month, to say hello “How are you doing?”, because you will never know how amazing are your networks, you might stuck in something and couldn’t figure out a way, but probably a phone call or a text will give you solution and it is free. That is how I always strongly believe how powerful network it is. And who you spend time with, who you become.
Elaine Chow's Quotes
|“||The moment you don’t know, it is the beginning of wisdom.||”|
|“||When you find yourself on side of majority, it is time to pause and reflect.||”|
|“||If you make a mistake, it is a problem; but if you don’t make mistake, it is a big problem.||”|
|“||You can’t climb the success ladder with your hands in your pocket.||”|