True. High risk comes High return. Thats why construction line is not for everyone.

That why managing people is one of the hardest part in business. I don't mind having less profit, as some of the things I can let go and let my partners to handle it, so that I can have more free time. Sometimes, we just need to learn how to control and when to release. Not easy I would say.

ahah yes..... like buddha say.. if you hold it too tight, it will break, if too loose, it wont play....

i am still finding the perfect tune....

constant motivation, training, target setting & random check

Awakened_Angel,

Cost control is key. You should have to discuss with your partner beforehand when tendering regarding the targeted profit margin. A sane person would know that if prices of materials are stable and the work is on schedule, then the profit deviation should not be too much. If the profit deviate too much, then you know something fishy is going on. That way you can severe the partnership and still avoid failing.

Thx alot for u all advice.., i think is correct tat is not wisely to only sell bubble tea as student can afford to drink every day. so i plan to combine the bubble tea and doin photostating togehter.. so it might help me to increase my profit.. from all ur exp do u think this plan will help to increase profit.?

Hi there I have currently just started an online fashion blogshop business- selling plus size and shoes with bigger size. From your experience, What do you think of this business and do you have any advises? Would appreciate some guidance.

I think you don't get what Jordy is trying to say.

Tror,

Photocopy business is VERY common among students these days. Profit or no profit depends on your competition and your marketing to students of your college. I believe that the market for this business is now saturated in most colleges in the Klang Valley, so entering the market now means you have more work to do in order to get a share of the pie.

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Added on September 4, 2010, 12:33 ampinkantelope,

I think he gets the drift Well, at least he gets my meaning when I said "Deduct your rental and the salary, you will be at a loss". So now he is trying to experiment with other businesses trying to breakeven.

This post has been edited by Jordy: Sep 4 2010, 12:33 AM

Tror, you're lack of business experience. You're from the engineering background trying to get your hands on one so you really need to put in a lot of efforts especially in doing research. Not to mention about your product/services that you intend to offer, you're putting yourself in high risk when you have no knowledge at all and yet you plan to have someone(staff) looking over the business. It's not as simple as you think, set up the stall, having someone there to manage on your behalf while you assume based on your calculations you'll be getting that amount of profits every month. Many things that you need to take into considerations.

i was thinking about this business, just 1 2 know will u guys use this service?

a Courier Services/Personal Service around Kl and Selangor only

services will be:
-send and collect document or parcel < using bike
-buy groceries/food even medicine < using bike

door to door services

Charges will be RM15 per trip < dijamin sampai hari ini

will u guys use this service ???

thx again for your precious advice..it really make me think of deeper at startin up a business.. actually i know i dont any business experience espcially im just a student and from the engineering background but i dont not like to work for others to only get a steady pay cheque every month.. i wanna own a coperation and i wanna expand my business every where around the world..i know will be tough be tats my mission..

my plan now is to get the feeling to doin a business..geting the experinece and face any prob that a business man need to face..i wanna get this expereinece.. hmm..,do you all think maybe i should just join a MLM company to learn about leadership and networking 1st instead of putting this capital to start my business?

THX alot again for everyone who leave a coment to..

Running errands? There's already people doing such a business.

ya like running errands...so what do u thing about the market ?...

F&B is cash business, something that I definitely will look into. Tror, without much experience you should go and get people with experience in this field to teach you although I know it's hard to find people to do so. Otherwise you just need to spend more time researching on yourself. No offend, I don't think you're suitable to be in business, just because you encounter some complications you changed your goal to wanting to join MLM. You should find solutions to problems that people addressed to you in starting your little bubble tea and waffle business(like considering setting up in other locations/etc) but not abandon it and start asking us whether you should go into MLM instead. There's no element of persistency in you.

Gloomy!

This post has been edited by angelsinlove: Sep 4 2010, 01:57 AM

1. Marketing
- How you create awareness to your target customer ?

2. Reputation
- Usually the items are important documents, how they can trust you ?

Generally, the above statements is the most important issue you should look into.

yes..... but somehow, volatile market and uncertanties is the hidden danger

This kind of business is online trading business. It always comes to how you market your products. Anyway, too much these kind of business these days, and nothing special about it. What are you going to do to make your store stand out from the rest?

If there is no plan to make your products or store stand out, then your store sales is just having ordinary sales with ordinary customer.

@Tror, since you have use your parents or your money on engineering education, I might as well just suggest you to get a job related to your education background first. Get some job experience first before your start business. You do not even have the experience in becoming an employee, how can you expect to be an employer? Many experience and techniques are learn when we are being employed whereby we observed or "steal" technique use by our employer. Learn it and change it to suits your needs when you venture out on your own in the future.

There is no need for you to rush your time, take your time and enjoy your time getting employed. Learn how to deal with people, learn what is office politicking, learn what is human nature, learn how to polish peoples shoes when necessary, learn how to shut up when necessary and etc.

There are so many things for you to learn when you are getting employed, and all those skills will be your surviving skills in your business in the future.

Are you aware that being a professional can also become wealthy? Not necessarily doing business will you become wealthy and I'm not sure if that is what you excel in.

Anyway, good luck.

this queries me.... why many malaysian people are so eager to be own boss? eg.. i work for few years and plan to be boss...

for my years of study in UK, i never heard any ang mo have such mindset.....

is it because higher pays, low living expenses in UK compared to low pay and high living expenses in msia?

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Added on September 4, 2010, 12:25 pmI only learn this skills when I am with my business.. when I was working with other people last time, I did not apply this skill at all, which make my colleague beh song with me

This post has been edited by Awakened_Angel: Sep 4 2010, 12:25 PM

misscreamypie

It's a saturated market overcrowded with thousands of online blogshop.

Thanks for your opinion.

To be honest, I do know that this market is really over-saturated, but I still do see some opportunity there because very few provides choices for bigger sizes ladies. They all assume all girls have to be/ are slim, around size S-L. that's what i think will make my store stands out from the rest.
As for the plan, on how to promote my products, and etc, yea, i'm still figuring it out till I found this thread and learned some new ideas about business.
I guess I need to do more research and be more creative in promoting it. Nice thread btw