Name of Recipient:
Mr. W.P. Lim
If you like the idea of having flexible working hours, meeting many new people, seeing different progresses in different stages of work and the lifelong learning through the accumulation of experience, entrepreneurship is thus suited for you.
“Sense of achievement” is what Mr Lim, director of Buildtech Construction Pte Ltd, has to say about his journey thus far as an entrepreneur. “You will feel happier and there is this constant exchange of ideas with fellow counterparts and every day is a new learning process to me. Till now, I am still learning how best to improve and expand my business.”
Having been in the construction industry for 7 years working under his father’s wing, learning from scratch, Mr Lim has always wanted to have “something of my own” and it was only a matter of time before he ventured on his own to set up his company. Currently, Buildtech Construction Pte Ltd is specialising in luxury projects such as condominiums, semi-detached houses, bungalows and commercial projects.
While things look rosy to people on the outside now, Mr Lim shared that all was not that smooth sailing when he first started this journey. “You need a certain amount of capital to survive. Being new, the suppliers and sub-contractors might not trust you. That was exactly what happened when I first started out.”
Nevertheless, Mr Lim was one of the fortunate ones to be able to learn the ropes under his father and in the 7 years that he was in his father’s company from 1996-2003, he managed to build a robust relationship with the suppliers and understand their style of operations. “After the 1st, 2nd and 3rd payment, people started trusting us and capital was never an issue ever since as they won’t press us for advance payments anymore.”
In the near future, Mr Lim intends to focus on the quality and integrity of his company instead of rapid expansions which might not be sustainable. “Local projects are my focus. Slow and steady wins the race. I rather focus on quality and integrity and let bosses and developers have faith in us through this proven method for success.” Indeed, over the 9 years that the company was around, they have completed more than 100 projects and this is quite a feat considering the small scale of the company.
When asked on the tips to differentiate one’s business, Mr Lim advised that when faced with difficulties, one should face them head on instead of avoiding them. Be bold to make the first step and dare to take up new ideas no matter how ridiculous they may seem initially. Innovation and creativity are important to stay ahead of your competitors.
In addition, Mr Lim attributed his success to the unwavering support of his wife. “I won’t be where I am today without her. She handles all the administrative side so well that I feel totally at ease to focus on my work and credit must go to her for this.” Furthermore, Mr Lim advocate that when faced with a confidence crisis, one must always tell yourself that you cannot fear, as once you break through this critical barrier, you will be ahead of others and this will then all be worthwhile.
Lastly, to all potential entrepreneurs, Mr Lim has some words of encouragement to share, “Go ahead and maximize your ideas. Do not be afraid of failure. Nothing ventured, nothing gained. Step by step, with a clear business strategy and a resilient mind, success will follow you like a tail!”
Amtech Building #06-03 159 Sin Ming Road
T| 6484 0902
F| 6484 0838