OUR business started in December 1998, right smack in the midst of the Asian Financial Crisis, probably the worst crisis the South-east Asia ever experienced. So the biggest challenged we faced was low business confidence and weak consumer spending due to the stock and property market crashes.

Why did we still go ahead? Because if we had listened to most people and believed the weak economic data was bad for opening a business, we probably would not have Fish & Co today and you would not be able to enjoy our garlic lemon butter sauce! (Ed's note: Joanne loves the garlic lemon butter sauce.)

We actually believed that we had a great concept in hand and a number of other factors did made it work:

1. The timing was right. Although we opened during the midst of the crisis, the month of December was the year-end festive season and everyone was out spending and having a good time. In Singapore, this festive season runs through Christmas, New Year, Chinese New Year and even Valentine's Day. Thankfully, we got our bets right and, from the start, sales were good and we enjoyed a great start to the business.

2. The location was right. We had the best location available during this crisis, located next to the entrance of the newly-renovated and refurbished Plaza Singapura. Historically speaking, during the late seventies and eighties, Plaza Singapura was THE shopping center and jewel of Orchard Road. Thus, we figured many shopping and dining lovers would at least visit the new Plaza Singapure at least once. Given the prime location next to the entrance into the mall, we figured we could reel some shoppers in.

3. The proposition was right. Most importantly, and ultimately, it was our faith, perseverance and sincerity that proved to be our successful driving force. Our faith that we had a great concept in hand, our perseverence in the face of a crisis (despite never owning or managing a restaurant before), and our sincerity because we wanted to give the best food and service to our customers.

Giving up was never an option because it simply had to work. There was no turning back because my partner, Lambert Yeo, and I had sunk our money into the venture and we couldn't just return to our previous cushy jobs. The funny thing I learned, from this experience, is that when people are pushed into a corner, the instinct to survive surfaces instantly.

I have always believed that if you start a building a brand from the first day, you develop sound business fundamentals and strong core values. It is these that will help you last through any crisis. This storm is probably the mother of all economic downturns, and I would be lying if I say everything is going well. But we are less affected than others with weaker brands and our diners are still returning to our restaurants.

We're down an average 4 per cent as compared to last year and considering what others may be going through we are quite blessed.

I think it is very important at this point in time to think straight and act coolly. The current situation is so unexpected and unpredictable that any wrong moves can drastically alter our business and affect it in the long run.

But what is certain is that in any storm, we know that it will not last.

Metaphorically speaking, it is good to know that the storm comes in three phases: the storm clouds gather, the storm hits and the storm passes to reveal clear skies.

So my advice is: Try to observe the signs of the different phases and take measures to ride each phase of the storm. Reinforce your business' core values and focus on the strengths that has made the business successful. For example if you stress strong customer service quality, then reinforce that as it is more important now than ever.

For Fish & Co, our business is in running restaurants and we are passionate about our employees. They are one of our most important pillars of success. And they are what we're focussing on in this crisis.