Six lessons businesses can learn from Singapore

My last visit to Singapore was in 2008.  The only country I ever went to on vacation, was Singapore (others were always for work) . Singapore is a small country in terms geographical size. It is about 700 km squared which may be thought of as a place 35km in length and 20km in width . However the small size of the country is of least consideration to this mighty country which has perfected the art of living and enjoying the life. The country is a business paradise. One look at the skyline and you would see it dotted with buildings with business listings right from banks, top hotels and many other businesses. For the lazy traveler, there are beautiful waterways. On the banks of these waterways, there are many restaurants which serve all kinds of cuisines. Singapore has one of the best transportation of all the places I have been too. Taxis, boats, buses, metro all work together cohesively and make traveling in Singapore a very pleasant activity . While watching a program on Singapore recently on TV,  I was unable to recall the places I had been to because many things have changed so much in last three to four years. A lot of new places were developed in last four years and are still being developed as I write this post. I would recommend Singapore to you as one of my favorite place. Does Singapore provides any lessons for business? Singapore has been developing itself on a vision that really plays for the long term. Here is what she can teach us about business.

#1: Discipline and focus

If you visited Singapore in year 2008, you would have been surprised by the number of under construction projects. It seemed to me that whole Singapore was working for a goal with unmatched dedication and discipline. Does your business have that kind of discipline too ?

#2: Small can be beautiful

Businesses are often worried about the scale of expansion and how fast they can grow in the competitive environment? What if you turn the competition upside down by creating huge exclusiveness of your offering.  Singapore by its focus on travelers creates exclusiveness all the time

#3: Hard work pays in the long run

Building business takes time and is often frustrating. Like Singapore too, a business can only be built using hard work and persistence.

#4:  Treat your customers well

Right from the landing at the one of the most friendly airports in the world to sweet talking Taxi drivers, it seems that everything in Singapore is built for you, the traveler. How many businesses provide such an experience for their customers?

#5: Reinvent

Singapore has a race track that runs right in the city. It has auditoriums and floating stadium. Every time you think that she has nothing more to offer, she will surprise you with new additions. The country reinvents all the time and that is what makes the place so exciting.

#6: Think long term

It takes a business really long to create the best experience for its customers. Most of the businesses think of short term and thus spoil the principles of good business. Singapore has been able to create a country where rule of law exists but also a place where you can have unlimited fun. With long term vision they have been able to create a reputation which businesses can only dream of. Do you think of any other lessons from Singapore ?