Success In Business

[marquess]

One of the big downsides about business here, is the lack of legal protection. The insecurity factor, i.e you could lose it all, just from being at the mercy of an immigration official

I knew one brit who made pretty hefty income on computer networks installations. so good - he bought Jaguar and small house at Patanakarn in three years. How? he provided first class services for his clients, never fails his contract and always stuck to details. Nice guy, but really hard-ass.

I think the easiest way here is some sort of export - anything produced here, but with very strong supervision, that is - "devil in details"

Teaching - as my friend said - is rebound for creative businessman between his project.

Let's say even travel agency can make 100K a year at least, then what about other more creative things? the tire recylcing factory at Eastern Seaboard was sold with profit of 3mills, and started with 200K investment 1998, and there are other good examples ...

Booz Import Co., from Scotland was sold so good ot makes two partnes legit millioners at the age of 54. both scotts, though, sold to thai.

German guys ran recruitment comp. in 1997-8, become bloody reach until his TGF stole money from customers and run away. He came back from Deutchland straight to "Bangkok Hilton"

and more and more...

<{POST_SNAPBACK}>

[~G~]

I think the easiest way here is some sort of export - anything produced here, but with very strong supervision, that is - "devil in details"

And how will communicate with your clients abroad? How will you do your marketing?? Every international call is expensive. Not to mention flights. Agents abroad are very expensive. Clients will not easily trust you if they cannot meet with you or your representetives. Not with large or expensive shipments. will you purchase goods for $10,000 from someone you never met?

If you don't have a reliable business partner at your target maket, and not sure about your distribution channels abroad, this is not easy at all.

[simon43]

If you don't have a reliable business partner at your target maket, and not sure about your distribution channels abroad, this is not easy at all.

That depends on your business. I run my own '1-man-band' business operating premium SMS services in the UK. I do everything via the internet, eg placing adverts in newspapers. I don't have to involve any other business partners. I can gross between 1-3 million baht per month for a few hours of work each day.

Could I do the same with Thailand as a market? In my business the answer is no because the customer will not pay as much for the 'service' as a UK customer.

Simon

[~G~]

If you don't have a reliable business partner at your target maket, and not sure about your distribution channels abroad, this is not easy at all.

That depends on your business. I run my own '1-man-band' business operating premium SMS services in the UK. I do everything via the internet, eg placing adverts in newspapers. I don't have to involve any other business partners. I can gross between 1-3 million baht per month for a few hours of work each day.

Could I do the same with Thailand as a market? In my business the answer is no because the customer will not pay as much for the 'service' as a UK customer.

Simon

<{POST_SNAPBACK}>

Sounds good simon - my reply was in the context of Boris's post - regarding exporting goods manufactured in Thailand - not for supplying services.

[Ajarn]

It's not that you are definitely wrong it is just it really does not work that way here. When it comes to advise to a new comer it is better to ere on the side of safety, don’t you think?

Though I understand and agree with the sentiment, why offer up one side when more sides are available? There's more safety through more information and experiences, I feel. I'm not suggesting you're wrong at all, but I often find it hard to resist adding another angle/view, if there is one, and this is personal experience, too. I can possibly argue your conclusions, but not your experiences, and I feel all espressed experiences are valuable for all of us to mull over and glean anything of value there might be to any of us. Lots of crap to sift through maybe, but that's life in the fast lane here.

The best education is the complete education, in my view. The more information, the better.

But Buyer Beware, as always

[Neeranam]

QUOTE(marquess @ 2005-06-08 11:39:13)

The question, is can an individual farang really be successful and make a lot of money in business here in Thailand? Naturally one hears of so and so opening a bar or running a computer repair service.  I have yet to see one Farang really achieve multi millionaire status, here in Thailand. Why is this so? Ideas and comments please (Please let's exclude those in the entertaiment field)

Oh, there are a few multi millionaires!

Why is this so?

Because they are not on TV....don't visit bars...stay low-profile...work their a##ses off...and most likely don't cross along 'walking street' in Pattaya....but play on the more important golf courses in Thailand where they meet the 'rich and famous'....

I used to work with a Frenchman who is married into the most influent family of TH (and increased their wealth substantially); I know of a Dutch guy who has factories all over the country....and another one who is (together with a rich Thai family) very big in project development and real estate.

Since he joined in he increased their, and his own, wealth 

But, of course there are only a few, the majority will never be multi-millionaires.

LaoPo

I know 4 guys who are now multi-millionaires. They did it by starting exporting companies about 20-30 years ago. Lots of hard work and a bit of luck, they say. They are very low profile, only one of them associeates with the rich and famous on the golf course. 3 of them opened factories and now have about 500-3000 people working for them. They say that they maybe couldn't do it again these days. 3 of them have now moved their factories to China. 2 of them got screwed by their Thai wives but still managed to keep lots of money and some of their businesses. I never knew any guys who became self-made millionaires in the UK.

So, yes it is possible if you have the hunger for money(I have never tried) and are willing to work very very hard, and you have a creative mind.

I have yet to see one Farang really achieve multi millionaire status, here in Thailand. Why is this so?

Maybe simply you haven't been here long enough, or they don't hang around the places and people you do.

Edited June 8, 2005 by Neeranam

[Heng]

One of the big downsides about business here, is the lack of legal protection. The insecurity factor,  i.e you  could lose it all, just from being at the mercy of an immigration official

That can also work in your favor too though. If one of your cooks blows himself up in the kitchen in one of your restaurants in the US, there's a good chance that either you will be out a million $ or at least out of business.

Here... it's likely that you will have to pay 10,000 Baht to the family of the deceased cook.

Sad but true. But not sad at all from a financial viewpoint (as per this thread).

[LaoPo]

LaoPo[/color]

<{POST_SNAPBACK}>

I'll bet they were all rich before they came to Thailand. You don't marry into 'the most influent family of TH' unless you are rich already.

<{POST_SNAPBACK}>

No, they were not rich; from good family yes, but certainly not rich.

LaoPo

[Khun Larry]

I have yet to see one Farang really achieve multi millionaire status, here in Thailand. Why is this so?

Maybe simply you haven't been here long enough, or they don't hang around the places and people you do.

<{POST_SNAPBACK}>

Always some small fry trying to put another Farang down. Despite the implications of this insulting post, there are very few Farang millionaires in Thailand compared to say US or other places in the West. Even fewer who made their riches in LOS. The primary opportunity offered is lower cost of living. Especially for those with marginal incomes insufficient in the West but affording a very comfortable living in Thailand.

[Neeranam]

Always some small fry trying to put another Farang down. Despite the implications of this insulting post

To the OP, if this is considered an insulting post, it wasn't meant to be. It wasn't a try to put someone down

Small fry. What's that about? Sounds very much you are trying to put me down.

[Rayong]

Bill Heinecke, B. Grimm (who has been dead since the early 1900's), um... Jim Thompson (who has likely been dead since the late 60's)...

I'm sure there are a few others. 

Why so few?   IMO if you spend too much time complaining about the rules, there isn't much time left to actually play the game. 

<{POST_SNAPBACK}>

Jim Thompson ....... don't include him since his history is not very clear. But he is still alive!!! I saw him yesterday in Cameron Highlands (Malaysia) looking for mushrooms.

To answer the query: Only very good and outstanding people can make a lot of money in Thailand and only if the SUPERGENIUS is also connected with politicians locally ..... which means nobody coming to LOS with 3 Tshirts and 240 Condoms in his bags (99% of foreigners) .....

Also in Europe and US the success is related to "friends" @ high level,

<{POST_SNAPBACK}>

We are talking about money. 1500USD a month isnt money, it's peanuts....ajarn

[Rayong]

If a westerner is interested in achieving 'multi millionaire status' ('multi millionaire status' is exactly what the original poster is asking about) and if that same westerner is smart enough to actually make multi millions then that westerner is smart enough to know that you can do it alot easier and alot bigger elsewhere.

If you say 'yeah but I want to live in Thailand', then my opinion is that you really don't have the drive to make multi millions.  To make multi millions (I'm talking dollars or euros....not baht) you need to have a high degree of dedication to your enterprise...you will be too busy making money to really care too much about where you live.

Thailand is not a good place for westerners to make multi millions.....I'm not saying its impossible but it is alot easier somewhere else.

<{POST_SNAPBACK}>

Thats a bit conedscending! 'Think outside the box'? ............. Americans!

So all this 'thinking outside the box' what has it got YOU?

[bkkmadness]

What is this the Ajarn bashing thread now, a poster offers some advice and everybody jumps in and has a go at him, mainly because they didn't understand the advice he was offering and only looked at the money he made.

[Rayong]

What is this the Ajarn bashing thread now, a poster offers some advice and everybody jumps in and has a go at him, mainly because they didn't understand the advice he was offering and only looked at the money he made.

<{POST_SNAPBACK}>

I find it hard to take advice from someone on how to make money when that person is a s broke as a bum and considers themselves 'sorted ' cause they made 1500 /30 = 50 bucks a day 'some months'

[bkkmadness]

Then don't take his advice Rayong.

How do you figure he's as broke as a bum by the way?

[Dakhar]

It is all relative guys.

To me 1,500 USD a month in the states is not much. But in Thailand... that aint too shabby.

[duke69]

The question, is can an individual farang really be successful and make a lot of money in business here in Thailand? Naturally one hears of so and so opening a bar or running a computer repair service.  I have yet to see one Farang really achieve multi millionaire status, here in Thailand. Why is this so? Ideas and comments please (Please let's exclude those in the entertaiment field)

<{POST_SNAPBACK}>

I quote again the original post since probably many of you guys didn't understand english or just want to post something .......

A LOT OF MONEY IS A LOT OF MONEY!!!!

Businessmen arrived here in Thailand with 3 million us$ who invested in production facilities in Thailand, yes tghey did a lot of money!!!!

But they had the money.

Now they're moving to China and in 10 years time they will move into India!!!!

In Thailand to make a lot of money you must be part of the ELITE (sorry french word)

To be part of the ELITE you might:

1) marry a very rich/important Thai girl

2) arrive in Thailand with a lot of money

3) get political connections

4) keep a level of life which allows you to keep your friends (so no LOW PROFILE at ALL), rich farangs (there are some) are on golf course every other day, the organize/partecipate to parties, they have a driver and a BMW 7 series, .... this is Asia, not South America!!

5) SOMETIMES (AT THE BEGINNING) YOU HAVE TO LIVE OVER YOUR CAPABILITIES because you must get into the "CLUB"

MONEY MAKE MONEY

..... and this is the ONLY WAY in a country where your competitors are happy to earn a bowl of rice every day!!!

[~G~]

5) SOMETIMES (AT THE BEGINNING) YOU HAVE TO LIVE OVER YOUR CAPABILITIES because you must get into the "CLUB"

<{POST_SNAPBACK}>

You mean I should stop using the bus and start using the skytrain?

[chownah]

LaoPo[/color]

<{POST_SNAPBACK}>

I'll bet they were all rich before they came to Thailand. You don't marry into 'the most influent family of TH' unless you are rich already.

<{POST_SNAPBACK}>

No, they were not rich; from good family yes, but certainly not rich.

LaoPo

<{POST_SNAPBACK}>

If coming from a 'good family' doesn't meant 'rich' then what does it mean. Do you mean they came from nice Christian homes? I'm sure that rich Thai people just love for their children to marry with good Christians!

[Ajarn]

What is this the Ajarn bashing thread now, a poster offers some advice and everybody jumps in and has a go at him, mainly because they didn't understand the advice he was offering and only looked at the money he made.

<{POST_SNAPBACK}>

I find it hard to take advice from someone on how to make money when that person is a s broke as a bum and considers themselves 'sorted ' cause they made 1500 /30 = 50 bucks a day 'some months'

<{POST_SNAPBACK}>

Rayong, you have no clue as to my financial condition, nor is it any ammunition for a flame... I would suggest you take your narrow and closed mind and try a new idea, for a change. And start by reading all of a post, instead of just taking bits and pieces and trying to create your own little fantasy world of what reality is.

Your ignorance might be bliss for you, but it's annoying to others and it makes you look the fool and the troll, so best to keep your ignorance more private, I'd suggest

Edited June 9, 2005 by Ajarn

[Dakhar]

This thread in a way disapoints me. One of the reasons I love Thailand so much, is when I go there, I get away from the office. I get away from the business I am in... the medical business. Which I think is one of the most cut throat businesses out there. Any how, I go to Thailand, I walk around in my shorts and T-shirt, and don't give a flying flip about my "status," because I know in the end.... I have got money in the bank, and all is 'OK." So come on guys, love a little. Ajarn, has probably gone a lot further in Thailand, than he could of in his own home country. (No offense intended there Arjarn) Ajarn has taken his skills that have a limited earning potential, and ran with it. Nothing wrong with that, it only shows intellegence to me.

For example, I have a friend in Thailand teaching English, earning around 40K baht a month. Which I hear tell is 4 times your avg Thai with a bachelors degree. Now my friend has a Masters degree in Eng. Folks, I promise you, he could not earn 4 times your avg. American with a M.S. in Englsih in the states. He lives a good life, with a great wife and 2 beautiful children in Thailand.... In my book, he is a millionaire.

[duke69]

This thread in a way disapoints me.  One of the reasons I love Thailand so much, is when I go there, I get away from the office. I get away from the business I am in...  the medical business. Which I think is one of the most cut throat businesses out there.  Any how, I go to Thailand, I walk around in my shorts and T-shirt, and don't give a flying flip about my "status," because I know in the end....  I have got money in the bank, and all is 'OK."  So come on guys, love a little.  Ajarn, has probably gone a lot further in Thailand, than he could of in his own home country.  (No offense intended there Arjarn) Ajarn has taken his skills that have a limited earning potential, and ran with it. Nothing wrong with that, it only shows intellegence to me.

For example, I have a friend in Thailand teaching English, earning around 40K baht  a month. Which I hear tell is 4 times your avg Thai with a bachelors degree.  Now my friend has a Masters degree in Eng.  Folks, I promise you, he could not earn 4 times your avg. American with a M.S. in Englsih in the states.  He lives a good life, with a great wife and 2 beautiful children in Thailand....  In my book, he is a millionaire.

<{POST_SNAPBACK}>

Dakar and Ajarn

Nobody wanted to offend you, the amount of money you make and the life you have.

You can live with 1000 $ a day or 1$ a day and I will greet you in the same way.

What created some misunderstandings was that your reply is totally OT, when reading the query from the OP.

That's all, there is no fight between rich and poors, between who decided to kiss or lick a s s e s of rich local politicians to become a millionaire and who decided to get quality of life working 15 hrs a week.

It's you guys that are OT.

JUST OPEN ANOTHER POST: "I'm a good smart teacher and I teach you how to make reasonable good money from your job" when reasonable is 1000 Euros oper month (50.000 baht).

peace

[Dakhar]

Sorry freind,

I aint a teacher. I think I would be hauled of to the BKK hotel based due to fraud, because my English skills stink so bad.

But you are right.... I have been off topic, and I apologize to you and the OP.

As to the subject, are their any farangs that have had made millions in Thailand... ? Well if so, I feel sorry for them, because they sure did spend a lot of time making more money than they could ever spend in a life time.... rather than living life. To me that is what Thailand is about, having the ability to live a good life, without the millions.

[Soi Mongrel]

Dakhar, you have a pretty warped view of people who have been more successful financially than you.

I've made over 2 million dollars in Thailand over the past twenty years, yet have lived a full and wonderful life. I've visited about 70 of Thailand's 76 provinces, holidayed in over 60 countries around the globe, raised a wonderful family.

I may have more money than I will spend in a lifetime, but I will pass on what's left to my heirs.

[duke69]

Dakhar, you have a pretty warped view of people who have been more successful financially than you.

I've made over 2 million dollars in Thailand over the past twenty years, yet have lived a full and wonderful life.  I've visited about 70 of Thailand's 76 provinces, holidayed in over 60 countries around the globe, raised a wonderful family.

I may have more money than I will spend in a lifetime, but I will pass on what's left to my heirs.

<{POST_SNAPBACK}>

I agree, that a person can be hard worker and succesfull and in the same time make a fortune.

When you are able to make a fortune there is no stricktly relation between worked hours and $$, everything is based on the right idea and the right money to support that idea and the right connections to sell that idea.

[kreon]

The question, is can an individual farang really be successful and make a lot of money in business here in Thailand? Naturally one hears of so and so opening a bar or running a computer repair service.  I have yet to see one Farang really achieve multi millionaire status, here in Thailand. Why is this so? Ideas and comments please (Please let's exclude those in the entertaiment field)

<{POST_SNAPBACK}>

Oh, there are a few multi millionaires!

Why is this so?

Because they are not on TV....don't visit bars...stay low-profile...work their a##ses off...and most likely don't cross along 'walking street' in Pattaya....but play on the more important golf courses in Thailand where they meet the 'rich and famous'....

I used to work with a Frenchman who is married into the most influent family of TH (and increased their wealth substantially); I know of a Dutch guy who has factories all over the country....and another one who is (together with a rich Thai family) very big in project development and real estate.

Since he joined in he increased their, and his own, wealth

But, of course there are only a few, the majority will never be multi-millionaires.

LaoPo

<{POST_SNAPBACK}>

I'll bet they were all rich before they came to Thailand. You don't marry into 'the most influent family of TH' unless you are rich already.

<{POST_SNAPBACK}>

not quite true, with building-up the right contacts, you can easily get there, i have a high level contact that make introductions for me, surely if the deal comes off he get his %, but to get there first you have to show them what's it all about

and definitly, keep low profile and don't walk with pick-ups on sukhumvit or where-ever, go discretely to the fish-tanks instead

and yes, i work 12-14hrs per day, seven days per week

Edited June 9, 2005 by kreon

[Ajarn]

Dakhar, don't sweat it. Some folks just like to fight. Such is life here, too.

Ajarn, has probably gone a lot further in Thailand, than he could of in his own home country.

Yes, and no.

If you're referring to income, I was a univesity teacher in California before I moved here 20 years ago. Experienced university teachers there are paid quite nicely, by most anyone's standards... If it was about making lots of money, I sure wouldn't have chosen Thailand... As others have suggested, it's likely a lot easier for folks to make big money in their own country, than here...

I came here for a change of pace, and to follow a dream of living in a foreign country. I was bored with California and wanted a new and more challenging direction in my life... I did fine for myself, I feel. I have no financial concerns, either.

My only intention in this thread is help give someone more information and some ideas about finding whatever they want here. Any small idea can be expanded...

Some here seem to want to throw a wrench in all this because of...? Maybe they're jealous of someone else's ability to 'make it' where they couldn't?.... Maybe it's something else... I really don't know...

After a couple of such posts from them, I really don't care much about them, either. Some would rather go a different direction, so I won't get in their way

Smart and creative folks can, and have, done quite well here for themselves in Thailand. Action is always the key, not talking/thinking about it.

I'm off to take my action with a relaxing swim. Bye.

[mpdkorat]

I'm off to take my action with a relaxing swim. Bye. 

<{POST_SNAPBACK}>

I thought you were paralyzed. Please remember your buoyancy aids and take good care.

[Ajarn]

I'm off to take my action with a relaxing swim. Bye.  

<{POST_SNAPBACK}>

I thought you were paralyzed. Please remember your buoyancy aids and take good care.

<{POST_SNAPBACK}>

Earlier, you asked a question about why I'm not working now, and I answered it honestly and openly, as I always do here. That is not some kind of bait for you to come back twice now with what I consider rude comments, so please keep your personal 'concerns' about me to yourself. It's not fodder for public discussion or further comments.

[bkkmadness]

I'm off to take my action with a relaxing swim. Bye. 

<{POST_SNAPBACK}>

I thought you were paralyzed. Please remember your buoyancy aids and take good care.

<{POST_SNAPBACK}>

You complete @sshole.