Turning troubled firm into a thriving business. businessman and siblings grew dad’s building services firm into one with $10m yearly revenue.
When businessman Davies Teo and his two siblings took over their father’s building services firm in 2000, it looked like they had landed on a sinking ship.
The company was turning over just $300,000 a year and losing money. Mr Teo was in his early 20s at the time and faced a dauntingly steep learning curve after his father left Singapore to venture into businesses in the Philippines, leaving his children to make good here.
Mr Teo, now 43, and brother Richard, 42 chipped in as technicians while Shirley, 44, handled the accounts. The three siblings went without pay for three years, drawing only a paltry monthly allowance of $300 each… Read full article here