TAKEAWAYS
In 1789, Benjamin Franklin, one of the Founding Fathers of the United States of America, famously wrote, “In this world, nothing can be said to be certain, except death and taxes.” We can perhaps add one more item to the list – challenges in life.
Life is never plain sailing. At various stages of our lives, we are bound to encounter challenges of different natures. Although most of us are mindful of this, it is almost impossible to prepare for them as we cannot predict when we will come face-to-face with a challenge, or what form it would take. As a result, it probably hits the hardest when a challenge is a bolt out of the blue. Worse yet, the impact can be amplified several-fold if the challenge is life changing.
For Vincent Yik, Director and Co-Founder of FirstTracks Ventures, the unexpected recently struck, when he least expected it.
Mr Yik used to be Group Chief Financial Officer (CFO) of a listed company. Just when he thought things were progressing smoothly according to his roadmap toward retirement, he was relieved of his duties around Christmas 2024. He was in disbelief and absolutely stunned.
It was a bitter pill to swallow as he had invested an enormous amount of effort growing the company business. He had produced tangible results, delivering stronger financial performances year-on-year. Additionally, he had helped in upgrading the company’s infrastructure – implementing a new Enterprise Resource Planning system – and developing the team. Above all, he felt the termination was unjustified as he had not done anything to warrant it.
Nevertheless, nothing was going to reverse the outcome.
The former Group CFO admitted that in the early days, his mental health suffered. He was inundated by self-doubt as he contemplated the uncertainties. Would he still be able to support his family? Could he continue to pay his children’s school fees, put food on the table, afford all the things he had previously taken for granted? The list went on.
At such a time, the importance of support cannot be overstated. Support provides the strength to move on and the solace to lift one’s spirits. It can come from various sources, such as religion, family and friends, self-help, professional help like counselling, and more.
Mr Yik was grateful to receive support from several fronts. As a Christian, he drew a lot of comfort from his faith. At home, his wife took care of the family quietly, giving him the time and space to heal. His friends rallied around him with encouraging texts and messages; they also invited him out for meals, to prevent him from brooding at home.
Notwithstanding the support he received, significant responsibility still fell on Mr Yik to pick himself up. He credited his passion and experience in long-distance riding for contributing to his recovery.
Mr Yik is an avid motorcyclist who had ridden round-trip from Singapore to China, passing through Malaysia, Thailand and Laos. He also rode one loop around China during the same trip. In total, he covered almost 10,000 kilometres in four weeks. The trip demanded everything from him – it required overcoming difficult challenges such as physical and mental exhaustion, inclement weather, rough road conditions and logistical constraints, among others. Many of these factors were not within his control. All he could do was adjust, adapt, stay determined and continue on his journey.
So, when his career faced a major setback, the practised resilience in him kicked into gear and he reinvented his career. “Where you are is not who you are,” he asserts.
Having spent many years in the corporate world, Mr Yik was aware of his strengths and experiences. He understood how to run and manage businesses; he had undertaken corporate transformation projects; he was involved in integration runs and initial public offerings. These are skill sets which would benefit emerging enterprises, to help them grow faster and develop their market potential to the fullest.
Leveraging his capabilities, he set up a strategy consulting and business advisory firm with a partner, to guide aspiring enterprises in their journey toward achieving optimal business performance.
On a lighter note, Mr Yik also runs a small prata coffeeshop in the east of Singapore, with two partners. Never in his wildest dreams would he have envisaged operating such a business. “Who says life is predictable?” he asks with a grin.
Life is fraught with challenges. Crucially, “it is how we react to them that truly defines who we are,” he remarks.
“We can draw inspiration from the 1997 hit song, ‘Tubthumping’ by British rock band Chumbawamba,” Mr Yik suggests. The song lauds the resilience of ordinary people who bounce back after enduring hardships in life. In particular, the chorus goes like this, “I get knocked down but I get up again. You’re never gonna keep me down”.
Tune in to CA Listen to find out more about navigating life’s twists and turns.
