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What You Can Learn From the Richest Woman in Singapore 2019

Racheal Muriithi

When a woman holds a brand of wealth, people try to find out who is or was her husband. It is because the majority of wealthy women usually inherit their fortunes from their life partners. Nevertheless, women have been making great steps in the world of business and making themselves self-made billionaires. It is the case with the richest woman in Singapore,  Christina Ong with a net worth of $1.8 billion.

Christina Ong also referred to as the  “Queen of Bond Street” owns several establishments. She founded the COMO Group which comprises the COMO Hotels and Resorts, fashion group Club 21 and wellness brand, COMO Shambhala. She continues to expand, and now she owns many franchises and lifestyles stores all over the World.

She has also penetrated the real estate industry. In fact, she got the name Queen of Bond Street from the many properties she owns on Bond Street, London. Christina is known to be a hands-on and detail oriented woman.

Ong is a great role model for many entrepreneurs and business people. She has received several awards that include a Hall of Fame Award and Singapore’s Meritorious Service Medal. What many people who explore the business World need to understand is that success does not come on a silver plate. You earn it through years of handwork.

Qualities Necessary to Succeed as an Entrepreneur

Christina Ong success means more than starting new ventures every other time. Regardless of the fact that those who know her describe her as silent and secretive, she positions herself to succeed. It takes the right attitude and determination to achieve success. Here are the qualities of a successful entrepreneur like Christina from which you should learn.  

A Strong Desire to Succeed

An entrepreneur should have a strong inner drive. Don’t allow people’s sentiments and discouragements erode your vision. A strong desire should overcome obstacles. You should not only set big goals but also commit yourself to achieve despite the setbacks you encounter. A healthy opinion of your skills and abilities will place your self-confidence on a high score.

Accomplishing goals, persistence and sustained effort are the characteristics of a strong desire. Christina is highly vibrant and determined to bring success in every area of her business. Thus, you will not only need to initiate an endeavor but also persist to succeed. In the face of obstacles, fatigue, and boredom, you fight to prevail, and this delivers performance and results.

Look Out for New Innovations

Succeeding in business requires that you come up with new ways of doing things. Christina is not known for one kind of industry. She is in fashion, real estate, hospitality, tours and travel and she is getting into more other sectors. One may wonder how she manages to penetrate several different areas. It is about continually reinventing yourself and coming up with new approaches to doing business.

Christina is well innovative. If you walk along Bond Street in London, the shopfronts carry the names of the most famous in the fashion world. You will find names like Prana, Donna Karan, and Armani. This business woman knows she can do business out of other people’s dreams of elegant living. She uses the power of a name. The innovativeness culture is evident in all her areas of business.

Openness in Adopting Change

It is hard to make profits on old age methods, and so embracing change is what will help you flourish in business. Be headstrong and stubborn when you decide to choose other options.  Christina knows the power of doing it differently, and she understands the impact it makes. In her most ambitious hotel, the Metropolitan on Park Lane, she decides that the staff there will be dressed by DKNY differently from the Halkins where Giorgio Armani did the designing.

Change brings evolution which then defines the path to success. Evolution of products, services, technology, and ideas deliver a victorious outcome. Entrepreneurship requires mind-openness and eagerness to learn whole new things. It is the approach to keep you on top. Keeping abreast with the latest technology, techniques, and trends will take you a long way in providing what customers will appreciate.

Accept Rejection and Constructive Criticism

Criticism points at something you are doing wrong or something that requires change. Accepting how others are challenging you is a crucial way of getting success. It is through them that you learn your shortcomings in business and you should initiate amendments. It is also another way of acquiring skills to do business.

It is resourcefulness to listen to others and improvise. Even the Ong’s family has been a subject of criticism. But they never allowed criticism to weigh them down but instead strengthened them. Some people say that Christina owes her success to his father. Neither did she object this comment nor did she stop working harder. She continually demonstrates that though others may seem to set the pace for you, it is your obligation to maintain the spirit.

Strive to be Unique

The question you should ask yourself is what makes Christina succeed in almost everything she put her hands on? People name her “Queen of Bond Street,” She shakes everyone in the fashion industry, COMO cuisines are highly praised and so on. Ong knows how to set herself apart from competition using “Blue Ocean Strategy.” This approach is something she trains many to adopt.

Thus, one way to stay afloat is to create a unique brand that stands out of the crowd. This helps to appeal more to customers than your competitors. Uphold an identity that shows your clients that you are different from the rest. Create a brand that is an empire away from the competition. Shine through your products, advertisement, employees and retail stores.

Being unique includes giving value to customers. Offer something they want, need and appreciate. It will surprise you to see they will value your prices too even when they are higher than those of competitors.

The richest woman in Singapore shows in every aspect what it takes to succeed in business. If you follow the above lessons, you will destine yourself for greatness in the business world. If you are struggling in business, step back and see how you can fix issues using these lessons as tips to do better.

Here are more articles for you:

How Much to Invest in the Best REITs Singapore

The Richest Women in Singapore – How They Made Their Wealth

Things You Should Know About CPF Contribution Rates in Singapore

(By Racheal Muriithi)

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