[Singapore] - "I started a business at 19 & failed epicly. So I tried again."

[UltimaOnline]

Fresh out of JC in 2015, Mandy Chan poured her savings into her startup, where she tried creating and selling a bag. Her first attempt failed miserably.

Today, the 25-year-old is the co-founder of The Bold Company, a local athleisure brand company worth millions.

Here, we have reproduced an updated version of a commentary she had written for the SMU Blog.

https://mothership.sg/2021/07/mandy-chan-bow-startup/

 

[sweetiepie]

KNN worth millions ? KNN my uncle will never spend a single cent on it where the millions came from ? KNN

 

[Trick]

So young and so successful, not a good sign. Unless she knows how to maintain her wealth

 

[Xisiqomelir]

Wah $300 backpacks!

https://www.kickstarter.com/projects/theboldco/pytho-definitive-all-day-backpack/description

 

[tobelightlight]

So young and so successful, not a good sign. Unless she knows how to maintain her wealth

I dun understand ur logic, why don't you congrats her.

 

[OrLanChowHorFun]

KNN worth millions ? KNN my uncle will never spend a single cent on it where the millions came from ? KNN

the stocks are worth millions..........but all still in warehouse ?

 

[blackmondy]

Who is the sugar-daddy that invested in her company ?

 

[micromachine]

Business failed and landed heavily in debt - is a 2nd chance ever possible?​

It has been a tough time for me after failing in my business venture 3 years back and having landed myself in about 300k worth of debt to banks, suppliers, contractors and relatives. Being your own boss is tough and often lonely. I started out on my own when I was 31 and had no proper mentors to guide /nurture me. Nobody really cares how crazy your life could get. Most folks naively reckon that being a boss means having plenty of personal time and financial freedom.


Eventually I plucked up the courage to cut my losses and return to being a salaried worker to service my debts. All this while I faced everything by myself with no support whatsoever. Even my loved ones could not understand why my debts were so complicated and just can't seem to lessen despite my regular repayments. I'm often left with a few hundred dollars for food and transport. I can't afford to go on overseas holidays ; I also couldn't bring my family out for a decent meal at a zi char stall. When my parents quizzed me about the outstanding sums owed and when I would able to pay back this auntie or that uncle in full, I was completely at a loss with no definitive answers.

More at https://tinyurI.com/2rsv7wpx