A couple of weeks ago I was in court as a witness during a civil case. A friend and business associate became involved in an business arrangement that went sour. It ended up in court so you can guess that they didn't manage to find any easy resolution. As a business associate, I was able to give a valuable point of view.
The first lesson is a reminder to avoid court if at all possible. It is expensive and time consuming and a massive distraction from business.
This was my first experience in a Singapore Court.
Customers
What is the essential, actually mandatory, prerequisite for a business to exist?
I have asked this question of hundreds of managers and business owners and their usual answers include an idea, money, capital, a product, funding, staff, a name, a brand, a registered legal entity and so on.
It is always a surprisingly long time before the correct answer emerges.
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