Simply Focused for Success

ICPAS first Advisor, Teo Ser Luck, Senior Parliamentary Secretary of the Ministry of Community Development, Youth and Sports and Ministry of Transport, is a politician, Ironman triathlete, successful businessman and well-known public figure in Singapore. The easy-going and youthful personality shared with Singapore Accountant about approaching life with simplicity and staying focused.

Why did you choose to study accounting?

To get a job! It was a matter of looking for the qualification that could get me a job. Accounting seems to be the one that I thought I would have an interest in (due to my interest in business) and at the same time, gives me a higher chance of getting a job before graduation.

How has your accountancy background supported your work?

I can't be more thankful for having studied accountancy. In every project or work and more so in running companies, the accountancy knowledge gave me a good sense of their financial health, helps me to look beyond form and to focus on the core. Like a doctor, trained accountants are equipped with the knowledge to diagnose the health of the business. Best of all, it has helped me in my personal investments.

Could you tell us the secret of your success at such a young age?

I am quite old compared to the more successful, younger individuals I have met. You should ask them. Furthermore, I never thought of myself as successful so there is no secret really. Well, my mind is always reminding me that I am not good enough and not successful in any way so I keep trying. It is really a sense of trying to make a difference to others and to make a positive impact. That is critical as you deal with the well-being of another person, you would be motivated to go beyond yourself to try harder. I am always doing self-check to see if I have made good use of my time and if I have done enough.

What is your advice to accountants who aspire to reach the top?

Everyone has the potential to make it to the top. The path I took was not smooth. My views may differ from others. When you start in the working world, put your ego, grades and books aside and get ready to plunge into the world of uncertainties and start from ground zero. The private sector is not a school. There is no protective cover per se. No one owes you a living. It would probably not be as smooth sailing if you want to reach the top or when you are at the top. Adapt to the environment. Use your knowledge in numbers to propose ideas for the future. You can be the driver not the passenger. Be ready to venture out of your comfort zone of accounting and finance into other areas like sales, marketing, etc. Broaden your business knowledge. Grow your network of business contacts. Be ready to have someone say 'No' to your face and be ready to ask than to be asked. Turn every challenge into an opportunity. Believe in yourself and keep the fire burning in you, never give up and always have the passion to learn and explore. Climb the mountain. Don't give up halfway, if not, you would be on your way down. In sports, we have a saying: “Pain is temporary, glory is forever”.

With a passion for sports, would you be looking at strengthening the sporting culture amongst the mostly desk-bound CPAs at ICPAS too now that you are its Advisor? How?

Ha ha ;-) Maybe I should organise a coat and tie race in CBD for accountants!

To read the rest of the story, turn to your personal copy of Singapore Accountant Jul/Aug 2009 issue that is available to all ICPAS members. Alternatively, members can login online to download PDF copy.