On June 13, Monspace organized a Hari Raya Aidilfitri Open House, at the Palace of The Golden Horses, to celebrate with Monspace family members. ❤
To reward users with outstanding business performance, Monspace has organised a trip to London, inviting all outstanding users to join.
On the second day in London, we prepared a series of activities for our users, including watching the EPL Match at the London Stadium. It was West Ham United is playing against Leicester City FC. It feels amazing to be watching the game live with the fans, and to fully immerse ourselves in the excitement. It has hyped us up even more for what’s next !
Life Inspiring Life!
The resources commonly shared in sharing economies include personal resources, time, and skills. These are physical commodities, goods, and services.
For example, private cars can be made available for public use, private property rented to tourists, and high-performance massage chairs rented to the public for relaxation. This way, those who own a car or a massage chair can be duly rewarded, while providing a service to the public. That’s how sharing economies allow everyone to benefit.
Sharing Economy is an economic system that is based on people sharing assets or services between private individuals, either free or for payment, that are facilitated by a community based on-line platform.
A SHIFT IN TRUST TO COMMUNITY
We are starting to trust each other again, most noticeably in recommendations and reviews of products and services. Presently, many marketplaces are regulated entirely by peer-reviews.
Sharing economy’s contribution to societal concerns isn’t just restricted to the environment. One very important aspect of sharing economy is instilling trust amongst community members. Earlier the apprehensions of having unfamiliar faces as guests soon were overcome by strong driving principles that led to the creation of the Airbnb community. Many sharing economy platforms, such as ridesharing apps and Airbnb, have built-in ratings and reviews that help keep providers and consumers honest. And some platforms use their influence — and the shared resources of their participants — to help those in need. These trust-building efforts help sharing economy participants see one another as equals, building constructive relationships where none existed before.
SPREADS AND STRENGTHENS POPULAR VALUES
The online world is all about virality. Therefore, people tend to spread good things that resonate with their values.
MOVES AWAY FROM INDIVIDUAL GAIN
We have been living in a consumerist world that preaches personal gain and satisfaction. Sharing thus forces us to move away and appreciate collective/societal benefit.
INCREASING ACCESSIBILITY TO SELF-EMPLOYMENT OPPORTUNITIES
Collaborative consumption offers economical benefits for everyone involved. With the proliferation of online jobs and ride-hailing providers such as Ola, Rapido, Quickride and others, people can now work from the comfort of their home and use their owned vehicle to generate an extra source of income. People can also sell unwanted pre-owned items on portals such as OLX and eBay. This enables the seller to make some money on commodities that were otherwise futile.
HIGHER SAVINGS WITH THE SAME LIFESTYLE
This isn’t rocket science, is it? The Sharing economy has provided means to have a desired lifestyle without burning a hole in your pocket. So, if you are looking to make your apartment a home, startups like GrabOnRent is your Santa Claus, providing a wide selection of home furnishings and appliances on rent. Having the desire to wear designer clothing, Flyrobe can be your personal designer, or the adrenaline rush of cruising on a Ducati around the city can be realised through ride sharing. Sharing economy has seen a hike in more and more platforms providing rental options to users without sacrificing on quality.
MORE BUSINESS OPPORTUNITIES
“Are you serious? It would never work,” Those were the words when I had first come across Airbnb, an idea that sounded ridiculous, superfluous and that was destined to crash and burn. Years later it’s dominating the travel industry with more and more people choosing homestay over the luxuries of a hotel. Another startup allows its users to preserve their umbilical cord stem cells that can be used by the donor, his/her family and the community (MIND = BLOWN!). Despite its increased prominence and continued growth, sharing economy won’t completely displace traditional economic networks anytime soon. It’s more likely to force existing industries to become more like collaborative platforms that challenge them with potential benefits for everyone involved.
Not too long ago ownership was seen as a status symbol. The more assets one owned, the wealthier one seemed. All that seemed to change after the economic depression of 2008. Assets became a liability and ownership became scarier. Today, if you can get more of what you need through the sharing economy, you may be able to live a leaner existence that requires fewer valuable possessions — and fewer worries. For instance, if you live in a city and you only need to drive a few times per month, a car may be unnecessary. Not having to deal with car loans, insurance, maintenance issues, and potential thieves could be a big benefit. Likewise, if you can rent or share expensive tools or equipment that you only use for special projects, your tool shed, or garage won’t be such an attractive target for thieves.
EASIER ACCESS TO CAPITAL
For any business, getting access to traditional means of financing is not just a hassle but an obstacle too. Most banks often find startups and small businesses as risky. But with the increasing adaptation of sharing economy, crowdfunding became an easy and convenient way of raising funds by connecting people in need of money with those willing to give. For creative types, using a crowdfunding platform like Zetto and Faircent is less time-consuming — and offers a better shot at success — than applying for grants through government or non-profit arts organisations. And for those who contribute funds, the rewards can range from the emotional satisfaction of supporting something they care about, to an equity stake in a potentially successful venture.
While these are still early days in the sharing economy and it is still forming, the potential it holds is second to none. As technology takes giant strides forward reducing processing time, increasing capacity and a wider interconnected network, it’s only fair to assume it would add on to empowering communities as a whole with sharing economy at its centre. The only constant is change and we are at the forefront of witnessing the greatest change in consumer trends.
What do you think about Sharing Economy?
Share your thoughts below! 🙂
Let’s welcome the two SOFOs into our office!
23rd February 2019 marks another important milestone for Monspace Multinational Corporation as the Grand Opening of Monspace Singapore was officiated by the Founder and Group CEO Dato’ Sri Jessy Lai.
Dato’ Sri Jessy Lai was the main star of the event. During her keynote address, she shared her plans for the company and a bright future for all Monspace customers and users.
Congratulations to our CEO of Monspace Singapore, Mr Isaac Nordean! We are certain that the company will strive under your great leadership, wisdom and guidance towards greater heights, achievements and success!
Meeting with our IDs for our office’s expansion.
Also, Happiest Birthday to our Boss Isaac Nordean… May your life be filled with happiness, lots of wealth and the best of health!
Coming together is a Beginning,
Keeping together is Progress,
Working together is Success!!!
Life Inspiring Life
Video crew setting up their equipment for an interview with our CEO to know his secrets for success.
We also had visitors who came to find out more about the business development and updates. They were thrilled to hear about the implementation of SOFO Project in China and the potential for international growth.
Mr Isaac Nordean having his video interview shoot in the office by these two guys.
Stand-by, Ready, Action! Mr Isaac Nordean sharing his secrets for success. The video crew definitely didn’t miss the amazing view of the background.
Ms Wawa providing assistance to our customer.
Our happy customer with Mr Isaac Nordean.
We had another happy customer paying us a visit today!
Meeting with our fellow entrepreneurs to set the goals for 2019. Have you set your goals?
Our customer was so excited about the SOFO Project and can’t wait to get his hands on it!
About Monspace SG
Focusing to provide a unique online shopping experience for our customers in Singapore, creating a massive disruption towards online and offline shopping.
ARC 380, 380 Jalan Besar
T: (65) 6957 4874