Tips for Starting a Small Business

If you are dreaming of becoming next Bill Gates or Mark Zuckerberg, sorry, you may leave this page now. If you are dreaming of having small fortunes and having quality life, OK, please stay on

Below are the 10 rules/tips for starting a SMALL business:
1. Drafting your business model realistically
When drafting a business model, please look around and find successful examples of that business model to study. There are two reasons if you can’t find any, you are either a super genius (in which no such business had been developed) or the business model can’t work in the real world. Choose whichever is more likely and be wise.

 2. Don't use your own money for this business
In other words, use the concept of OPM (other people's money). You may loan from bank for starting a business with condition that you are 1000% sure that this business will success. Or since business is a very risky ventures, you may find investors to pump in the fund needed. Some of my friends using this way, finding investor for their photo studio business. Well, of course you need to discuss the profit sharing deal with the investor as well. The main advantage of this model is you don't risk any cents if thing doesn't turn out well.


3. You are the worker of this business
Hiring is expensive, you may consider to work for this business at least in the beginning stage. Once getting bigger or stable, you may consider to start hiring. Again, some people may hire consultant to build products or business, well, it doesn't always work. Consultant may turn out become CON-sultant or doesn't deliver the expected result.

4. Don't do something low value, please value your time

Pick an appropriate amount that your time is worth (example your value is $10 per hour). Find some tasks that take long time and low value. For example, if Company A will deliver your weekly supplies for $25, and it would take you three hours to do the shopping yourself, then choose Company A.

This sound like it contradicts with tips #3, but let me tell you that even slave has an economic value. Am I right?

 5. Hire well your employees

Once your business started to grow, its time for hiring. Make sure you hire someone knowing your business vision and able to work toward that vision. Be careful during hiring process as it is important for small business start-up.

6. Sell not using just low price strategy, but focus on features as well
If you are selling by competing purely on low price, you will be soon selling at cost or below cost. Do you think you can compete with other giants purely on low price? No! So how? Please think of add extra value or features on your product, also at the same time convincingly explain to your clients why your high product/service price actually deliver a better value to them.

7. Know everything about $$
You must know how much total CAPEX and OPEX of running the business, including tax as well. Divide them into a total business days of your business, OK, that's the minimum profit you must make in a day, make a good record on it though. Rethink if it doesn't goes well.

8. Use new technologies in your business
Make a good use of technologies. Set-up website for your potential business for greater reach. If you are in ebook business, find affiliates to help you selling by giving them commission. Use cloud computing and mass data storage as well to lower the cost of entry for small business. etc. etc..

9. Treat your vendors/suppliers well
Good relationship may bring you benefit on better pricing or payment term from vendors/suppliers. You need these right? So treat your vendors as if they are your best customers.

10.Provide the best for your clients
Remember how mouth-to-mouth advertisement will bring good prospect to your business. All you got to do is providing good satisfaction of  service/product that you sell to customer. Make sure it is the best from you. After that, clients will do the marketing for you. It doesn't cost you much to serve them right?

Just a guidance for you for having a small business and for your future good life prospect. Please share to your beloved family and friends. And also kindly please share any tips by adding comments.

PreLaunchX: My Account Current Status

After 1 week of joining PreLaunchX, guess how many referrals do I have?

After posting from this blog (BigCashMaker) and in Facebook, I had 9 first level referral and total of 72 referrals from level 1 until 10. Out of 9 first level first level referral, at least 3 were provided by PreLaunchX, remaining were from my friends. This translates to potential USD 720 commission per month. Hmm. Not bad huh?

Other information that I would like to share:
1. The amount increased from USD 100 to USD 139.15. Nett 39.15% increase in a week trading. What a superb record for managed trading or PAMM. Lets hope Forex Firm X performs well and didn't cheat to us. By the end of August, 12, by assuming it grows 20% per week, it could reach USD 1000 of account value. Again, lets hope they are doing well and not a hoax.
2. I had unlocked social circles 1-5 for payment (condition to unlock is you need to find at least 3 first level referral by your own).
3. Now waiting the method to unlock social circles 6-10 for payment (so far I have 37 referrals there).

Guys, again I strongly encourage you all to sign up this program. You have free USD 100 for the managed trading account and you may earn extra cash from referrals sign up bonus and commission. Just need to find few referrals, and let them find the others, you could have 100 referrals in your level 1 - 10 of social circles. An easy money though, you got nothing to lose if this is a hoax, aren't you?

Updated on June 6th, 2012:
1. Current Account Balance: $202.19
2. Total Referrals: 197 (I could earn up to $1,970 commission in a month, and a potential $4,900 sign-up bonus).

Updated on June 10th, 2012:
1. Current Account Balance: $225.44
2. Total Referrals: 201 (I could earn up to $2,010 commission in a month, and a potential $5,060 sign-up bonus).

Updated on June 14th, 2012:
1. Current Account Balance: $246.86
2. Total Referrals: 206 (I could earn up to $2,060 commission in a month, and a potential $5,240 sign-up bonus).

Updated on June 27th, 2012:
1. Current Account Balance: $310.08
2. Total Referrals: 218 (I could earn up to $2,180 commission in a month, and a potential $5,960 sign-up bonus).

Updated on July 15th, 2012:
1. Current Account Balance: $558.02
2. Total Referrals: 224 (I could earn up to $2,240 commission in a month, and a potential $6,080 sign-up bonus).

Updated on July 27th, 2012:
1. Current Account Balance: $683.86
2. Total Referrals: 231 (I could earn up to $2,310 commission in a month, and a potential $6,620 sign-up bonus).

Updated on August 13th, 2012:
1. Current Account Balance: $1,129.19
2. Total Referrals: 240 (I could earn up to $2,400 commission in a month, and a potential $7,160 sign-up bonus).


Read more about PrelaunchX in my previous blog post here.

Please join PreLaunchX today for your potential passive income!

PreLaunchX: Receive Free $100 Sign Up Bonus and Referral Commissions

Hi all, I saw a good Managed Forex program on internet, the program name is from PrelaunchX. You will received $100 during sign up and they will manage the $100 in forex trading during the launch date in August 27, 2012. You may withdraw the money after that (if I am not mistaken). And then, you will receive commission for every referral sign-ups.

Well, below is the more detailed review:


Service Details: Forex Firm X are working toward launching a new forex trading platform backed by unparalleled new predictive analysis technology. They expect their new service will leave competing brokers playing catch-up for years to come. Specific details of their service offering are being closely guarded due to the highly competitive nature of this industry.


Earning Potential: There are three ways your potential earnings can grow during the prelaunch build-up with Forex Firm X.

1.   Managed Trading Account
Forex Firm X will automatically create a forex trading account linked to your PLX account. This account will begin with a balance of US$100. They will trade this linked account in the forex market on your behalf. The trading decisions will be made by their in-house staff of experienced forex traders in combination with the predictive analysis technology they are developing.

2.   Sign-up Bonuses
Forex Firm X have agreed to pay you a one-time sign-up bonus of US$100 for each person in your first social circle and US$20 for each person in your remaining unlocked social circles (2-10). Payment of sign-up bonuses requires that the people in your launch group create forex trading accounts with Forex Firm X after their official launch.

3.   Monthly Commissions
Forex Firm X have agreed to pay you a recurring monthly commission of US$10 per month for every PLX user in your unlocked social circles who creates a forex trading account and maintains an active trading balance with Forex Firm X after their official launch.

Join now and helping me by signing up under me (link: http://prelaunchx.com/x/stephentan82). And do spread up to your friends as well. Good luck.

New Venture in Swiftlet Bird's Nest (Yanwo) Industry, Fushun Yanwo

After a year of inactivity in blogspot, now I start writing again. Sorry guys, I had been through several ventures during my break from blogging.

Ventures:

Raw Bird's Nest

1. Explore new businesses - swiftlet nests business (Fushun Yanwo), coal mine (still finding buyers), electronic cigarettes (failed, closed).
2. Wedding - well, I just get married with my beloved wife, tying the knot after 3 years dating. It took us several busy months for the wedding preparation.
3. Tweeting - well, stopped tweeting 4 months ago after my accounts were blocked, hmm.. not bad, i earned few hundred bucks there.
4. Closing unprofittable restaurant business, WPH.

First of all, what is swiftlet bird's nest and why it become a business? Swiftlet bird's nest is a traditional health supplement food, consumed ages ago in China history. It is highly nutritious. The benefits of consuming bird's nest or yanwo (Chinese: 燕窝）  are for fairer skin, improving lung, improving immunity, for pregnant mum, etc etc. Due to its highly nutritious and rare products, thus it is sold at high price. Even in China history, its only for emperor and upper class citizens only.

I had been active in the swiftlet birdnest industry since early this year. The strategy of our way in doing business is very simple, play safe by not investing too much and roll the profit slowly.

Firstly joining with my partner and start learning the business by becoming an agent of one big birdnest seller. So all we got to do is dealing with the seller on the commission earned from every sales and start finding potential buyers in company. Well from there we start to know the market and learn to recognize each type of bird's nest.

Rules that we never forget in this industry is donating 10% of our profit to charity, the only reasons are two: avoiding bad karma as we are selling animal products (hmm, I am a Buddhist, when the karma comes, there is no way you can avoid it), and believing the more you give the more you will get (its true. Many thanks to Kiyosaki untiring advices on asking us to donate, donate and donate. I wish to see you one day!).

Bowl Bird's Nest from Fushun Yanwo

After 1 or 1.5 months by becoming agent, we planned to move another step that is making our own brand and ask my partner relative to clean the bird's nest for us. The setting up of our own brands include business card, brochure design, and the packaging design. Well, it is quite a painful moments, we spent countless weekends on finding those stuffs.Well until now, we still lack of website. At the same time we start exploring on the way to enter China market (facts: China is the biggest consumers in birdnest). Along the way, we faced many people helping us with utmost sincere, example: they teach us how to deliver goods to China, how to setup bank account in China, how to recognize goods etc. A big thanks to them.

Just few months ago, we leap to another milestone: learn to buy the raw goods from farmers. Well, our first deal is a lost deal. But its OK, because market condition is in downturn, and its our mistake for keeping it too long.

Now is busy time again, we are moving to another step: hmm, I couldn't expose the news here as its still secret. Will inform you all once the project is done.  A move for us is a secret move. There are too many competitors out there, and many of them are spying.

Also I would like to share opportunities of business with all of you:

Sea Cucumber from Fushun Yanwo

1. Becoming my agent in Indonesia for swiftlet bird's nest.
2. I am looking for business partner in Singapore, Malaysia, Hongkong, Taiwan and China. Direct delivery to Singapore, Hongkong and China. For Malaysia, buyer need to have import permit upon goods receiving. You can email us for further detailed.
3. Becoming my supplier of raw bird's nest. We prefer goods that chemical free.
4. Our goods are chemical free, bleach free, 100% pure and original. The quality is assured high.
5. Besides birdnest, we also doing sea cucumber business. We are the supplier as well.
6. I am looking for potential coal buyers in large quantity. Price is in FOB mother vessel, buyer responsible to deliver the goods to other country, however miners will provide sufficient documents for export purpose.

Hey guys, I am looking for serious business partners only.

Doing swiftlet bird's nest and sea cucumber business is fun, we aim to retire from working by doing this business. God bless us and our business partners for the future success.

Visit our website for bird's nest and sea cucumber products.
Website: www.fushunyanwo.com
Weibo (China Tweeter) : http://weibo.com/fushunyanwo
Email: fushunyanwo@gmail.com
Tianya Forum: http://my.tianya.cn/72095994

What are You Going to do with Your Retirement?

RETIREMENT. To many people, it refers to the period in life where one should be kicking back, relaxing and catching up on the things they never could during their long, gruelling working lives.

Realistically, however, not many people get a chance to enjoy their retirement period, usually due to financial constraints that comes once we stop earning a living.

With the rising cost of living, many retirees are finding it difficult to make ends meet with their EPF (Employees Provident Fund) savings or pension scheme alone and are forced to continue working.

For the purpose of this article, we’re going to skip that group of people who, during their working lives, were prudent with their expenses and shrewd with their investments and are now laughing themselves all the way to the bank till the day they die.

For those who still need to earn a living post retirement, embarking on a job can still be fun and need not be a burden. In fact, many of today’s retirees view retirement not as an end, but instead as a new and exciting phase in their lives.

Work from home

For a retiree, working from home has its advantages, says Janice Tam, a retired school teacher.

“You can work at your own pace and avoid the hassle of travelling to and fro to an actual office,” she says.

Tam today provides tuition classes for kids below 12 years of age.

“Providing tuition classes is a very popular side income alternative. Baby sitting is also a good post retirement job choice, especially when the parents drop the child at your place and saves you the hassle of having to go to their home.”

Starting your own business

Many a times, the experiences of a long career can provide retirees with the confidence and knowledge to launch a successful business.

G. Murthy used to serve with the armed forces and now, at 57, is heading his own security firm.

“My experience with the armed forces allowed me to gain invaluable knowledge in self defence and now it not only allows me to help protect people, it also provides me with a decent income.”

Sometimes, the knowledge and experience could be gained from a family business.

Growing up, Rashid Abu Bakar, now 67, used to enjoy the nasi lemak his mum sold to the local village-folk to earn a living.

After serving with the Government, he is now retired and is continuing the family business and claims that it is “good pocket money.”

“It makes for a good side income on top of the pension that I get every month.”

Rashid says he enjoys eating the nasi lemak just as much as he does making them.

“As it’s important to find pleasure in what you do, or else it would just become a burden. I have to wake up very early in the morning to prepare the food but it is something that I enjoy doing.”

He adds that it is important to understand the demands and dynamics of running your own business, its prospects and needs.

Become a consultant

Many people retire from their jobs only to become consultants to their previous employers or advisors to organisations within the industry.

Says Alvin Loh, 63, an advisor to a local property developer: “Consult-ing provides you with a lot of flexibility and due to the person’s invaluable years of experience, demand for such jobs are good and so is the salary.”

Go back to school

It is not uncommon for senior citizens to enrol part time or even full time at a college or university to learn a new skill and take up a new job, says Kajang-based private college tutor Rashid Ali.

“There are many senior citizens where I teach who are taking up something new. Some of them even come back to do another course!”

Rashid admits that taking up a part-time diploma or degree can be a huge sacrifice for someone who is married.

“There are many private institutes that offer night-time or weekend courses to cater to this group of people. There are many genuine courses that one can do online.

“Having an extra qualification on your resume carries a lot of weight and if it means better job and salary prospects, it’s worth it,” says Rashid.

Become a volunteer

There are many organisations out there that are eager to accept volunteers, regardless of a person’s age, says Jacob Wong, a committee chairman for a Kepong-based non-profit organisation.

“Because we have to constantly keep our budgets down, we’re always looking for volunteers. Believe it or not, a lot of times we prefer to work with retirees because they are less demanding and are quite satisfied with the pocket money that we give them.

“Many of today’s youths are just interested in making money and are not interested with volunteering. That’s why we prefer to work with senior citizens,” he says.

Schools, libraries, religious and relief centres and charitable organisations are among some of the places that are always on the look out for volunteers, Wong adds.

From TheStar