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 For Small and Medium Business Owners, Come In and Share Your Biz.

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TSedyek
post Dec 19 2009, 11:24 AM, updated 12y ago

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The purpose I open this thread is to gather all business owners to share their experience in Small and Medium cash flow business. This will be a guide to someone out there who intends to invest in small and medium business. I share mine 1st.

*Edited - Add in Equipment, Overhead, Rental, and other cost.
*All the income shown is Gross Profit only. It is not Net Profit.

Success :

1. Car wash
Capital : 20k
a. Water Jet Pump - RM 800 (3 nos) = RM 2,400
b. Soap Bomb (Snow Wash Dispenser) = RM 700 (2nd hand) *Just fill in the soap and it will come out with snow wash, and the shape is like a bomb
c. Detergent = RM 500. Always stock 10 tong (RM 50/tong).
d. Cleaning Cloth = RM 100 (50 pieces)
e. Other miscellaneous stuff = Book, Promotion banner etc. = RM 1,000
f. Minor renovation = Concrete ramp for under car wash. M&E wiring. Minor repair to the dessert house. = RM 15k
g. Some additional cash to start the day = RM 500
Partner : 1
Location : Nearby Government Office and Residential Area. Converted a dessert house to a carwash centre.
Monthly/Daily Income : Average 55 cars daily, average RM 11 per car.
Workers : 10 workers. RM 300 per person. With commission RM 1 per car and includes lunch
Duration : Manage it for 1 year and a half and sell it off.
Opinion : Good cash flow business. Easy to manage. thumbup.gif

2. Laundry
Capital : 10k (I take over from someone who owes money to the loan shark, and he needs money urgently.) brows.gif
a. Take over all the shop which includes 2 heavy duty washing machine , 3 heavy duty dryers, 2 iron and board, etc.
Partner : None
Location : Apartment area (Approx. 5,000 units). The only laundry available as there are only 2 rows of shoplot own by the same owner and I pay slightly higher rent to the owner and signed an agreement with him not to rent to any other laundry. brows.gif
Monthly/Daily Income : RM 4 per kg (all kinds of clothes). Average income RM 25,000 per month. (Do not include contract wash from nearby reflexology centre, cafes and restaurant)
Workers : 10 workers. RM 400 per person. With commission RM 0.50 per kg and includes lunch
Duration : Manage it for 2 years and sell it off.
Opinion : Good cash flow business. For walk-in business, find location with medium/heavy populated residential area. thumbup.gif

3. Western Food Stall
Capital : 15k.
a. Minor renovation of the stall = RM 2,000
b. Additional aluminum stall = RM 3,000
b. All the equipment necessary for cooking (Utensils, Grilled Plate and Fridge stand the major portion)= RM 5,000
c. Rental = RM 3,600 (RM 1,200/month. 2 + 1)
d. Cash to buy ingredients = RM 500
d. Some additional cash to start the day = RM 500
Partner : 1
Location : Food court nearby to residential area.
Monthly/Daily Income : In weekdays, average 30 plates of steak. And average 50 plates during Friday, Saturday and Sunday. Average RM 15 per plate.
Workers : 6 workers. With commission RM 1 per plate.
Duration : Half a year. Sell it off to my partner.
Opinion : Need a good chef who cooks FANTASTIC FOOD! drool.gif The hours is too long and tiring. Eventually every customer has their own taste, therefore complaints are un-avoidable. rclxub.gif

4. Room Rental
Capital : 40-50k.
Refer to my thread on this. http://forum.lowyat.net/index.php?showtopic=1240408&hl=
Partner : 1
Location : Shoplot.
Monthly/Daily Income : Average income RM 2,600 per month.
Workers : 1 worker. Ah ma. Cleaning services.
Duration : 3 years. Ended setting up 8 locations and sell it off.
Opinion : Need good management. Humans are the most complicated animals on earth. Some are fussy, some are grouchy, you name it. rclxub.gif


Failure :

1. Computer Sales and Services
Capital : 20k
Partner : 2 (Too many chef spoils the broth)
Location : Shoplot.
Monthly/Daily Income : The peak sales is only RM 3,xxx. Lowest RM 50.
Workers : 1 worker. Based on sales commission with base salary RM 500.
Duration : Bear the lost for half a year. Lost all the 20k after deducting all things, rental deposit and etc. and still need to fork in 1k to wind up the company. vmad.gif
Opinion : Too competitive. Too lousy margin. Too many partners. Since then, I reject every computer venture that approach to me. (They keep pitching how they do it differently, bla bla bla.... and I still end up saying "NO, thanks".)

2. Nasi Lemak & Kuih Stall
Capital : 10k
Partner : 1
Location : A stall at residential area
Monthly/Daily Income : The peak sales is RM 600 per day. After everything sold out. RM 2 per bungkus nasi lemak. Target 200 bungkus everyday.
Workers : 1 worker. RM 300
Opinion : Fail due to the failure commitment of my partner. Today lazy, do only 50 bungkus. Tommorrow rajin, do 200 bungkus. Therefore, I close down the stall and sold off the stall for 5k. Still RUGI 5k! vmad.gif

This post has been edited by edyek: Dec 22 2009, 03:49 PM
santaclaus
post Dec 19 2009, 12:55 PM

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from wat i c ... from all the businesses u ventured which are successfull , u had sold them out except the laundry.

while doing a business shud b long term , u had sold off 3/4 of ur profiting ventures. mind to share y?


TSedyek
post Dec 19 2009, 01:14 PM

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QUOTE(santaclaus @ Dec 19 2009, 12:55 PM)
from wat i c ... from all the businesses u ventured which are successfull , u had sold them out except the laundry.

while doing a business shud b long term , u had sold off 3/4 of ur profiting ventures. mind to share y?
*
Sold off my laundry business also. biggrin.gif

In my opinion, cash flow business for me is short term to raise capital and cash to venture into my long term business (construction) and invest in land banking and commercial property.

Business : I love business. I love the thrill and challenge of it. Business provides me cash flow for monthly expenses but not assets.

Properties : I realized to have a stable financial in my late days, land banking and commercial property is the only way to go. These both does not goes out of time, but business do.

My strategy : Get in a business, build it up and sold it off for a decent profit and invest in properties. thumbup.gif
IGax2000
post Dec 19 2009, 04:17 PM

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i notice that u manage those successful business not more than 4 years, i wonder if it really provixe good cash flow, why don't u just get someone to take care of it and let snow ball roll become bigger? so what is the latest business u r doing right now?
alanaw
post Dec 19 2009, 10:31 PM

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I agree with TS. This is wat i would do if i were in his shoe as well. Most important is make profit and from there invest in property or focus only on 1 high profit margin business. It will be hard if we were to take care of so many business at a time. In the end, the room for growth for business will be limited.
hazairi
post Dec 20 2009, 12:08 AM

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TS, you sure are a hardworking businessman!
good to hear that..
Humorboy
post Dec 20 2009, 02:50 AM

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i always wanted to start a business but do not have the courage to take the first step...


goldfries
post Dec 20 2009, 03:09 AM

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QUOTE(edyek @ Dec 19 2009, 11:24 AM)
The purpose I open this thread is to gather all business owners to share their experience in Small and Medium cash flow business. This will be a guide to someone out there who intends to invest in small and medium business. I share mine 1st.

Success :

4. Room Rental
Capital : 40-50k.
Partner : 1
Location : Shoplot.
Monthly/Daily Income : Average income RM 2,600 per month.
Workers : 1 worker. Ah ma. Cleaning services.
Duration : 3 years. Ended setting up 8 locations and sell it off.
Opinion : Need good management. Humans are the most complicated animals on earth. Some are fussy, some are grouchy, you name it.  rclxub.gif
capital 40 - 50k just for shoplot rental?

care to elaborate further?


QUOTE(edyek @ Dec 19 2009, 11:24 AM)
Failure :

1. Computer Sales and Services
Capital : 20k
Partner : 2 (Too many chef spoils the broth)
Location : Shoplot.
Monthly/Daily Income : The peak sales is only RM 3,xxx. Lowest RM 50.
Workers : 1 worker. Based on sales commission with base salary RM 500.
Duration : Bear the lost for half a year. Lost all the 20k after deducting all things, rental deposit and etc. and still need to fork in 1k to wind up the company. vmad.gif 
Opinion : Too competitive. Too lousy margin. Too many partners. Since then, I reject every computer venture that approach to me. (They keep pitching how they do it differently, bla bla bla.... and I still end up saying "NO, thanks".)
which is why i didn't go into COMPUTER related business.

allow me to share...........

it's volatile and you can't earn if you don't do volume.

when doing small amount (or if those distributors don't TREASURE you) then your COST per item, not inclusive of delivery, is still higher than those retailers at say Lowyat Plaza, or even LYN.

i tried before. didn't put $$$ but try to sell la. the board I sell, with sooooooooooo minimal earning and inclusive delivery, is like RM 10 - 20 more expensive than LYN / LYP sellers.

only thing that helped me was my reputation, even that also sales was minimal. let's not forget warranty issue, say your profit margin is only RM 10 - 20 each item - then what if shit happens? gone already the warranty.

in the end the profit margin just doesn't justify the amount of time and effort put in.

and that is just me selling online - as for edyek's case it's even more difficult as you need to pay rental, utilities, other hardware and stuff, buy stock.

about the volatile part - not all computer parts have fixed price. components like RAM can fluctuate. like 1GB RAM last time, from RM 140, drop to 70, then go up to 110, then so on so forth.

items like graphic card, better still! cost price RM 900, RRP is RM 950. you want to bring in stock, say even if you bring in just 5 la. so you sold 1. profit RM 50 - then 2 months later, new product come out and your goods still around. price drop, RM 800. no matter how you sell it off also you're at a loss already.

and mind you the loss is not necessarily just the retailer / seller side, even distributors have to deal with such losses.

and to add, if you go with EXISTING brands - then good luck fighting with the other established companies in selling. they get lower COST PRICE than you and sell higher volume. you can fight with pricing but how much loss are you willing to take just to penetrate the market?

to go with NEW or LESSER JNOWN brands? then also good luck, lesser brands are often less favored and to persuade people to BUY that brand alone is so difficult, sure it could be really much cheaper for the same item (eg GTS250 vs GTS250) but people's uncertainty over warranty and support is a problem. and with that, you have to put effort into marketing or have to fight with whatever means possible.

that's why you see some brands like Asus, Gigabyte, Galaxy, Sapphire are so widely available while other brands like Albatron, Colorful, Manli, ECS and those are so hard to find. And it's not that they're that bad or being NEW but rather it's just UNKNOWN to the market you're selling to. For example Colorful is #1 brand in China but in M'sia it's ....... what?


Added on December 20, 2009, 3:13 am
QUOTE(Humorboy @ Dec 20 2009, 02:50 AM)
i always wanted to start a business but do not have the courage to take the first step...
what TS did was great, however it is far from the complete picture.........

1. how long do you expect the capital to last?
2. who are your competitors and what are they offering?
3. how stiff is the competition? (eg, how aggressive are they? or are there too many around the area?)
4. how do you plan to be different?
5. what's your marketing plan?

that also doesn't add to the complete picture. IMO every business is a battleground, and they're all DIFFERENT.

you can't just jump into a business without proper planning.
toby.c13
post Dec 20 2009, 04:15 AM

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what about a paintball related business?
with the paintball sports starting to bloom in malaysia,
do u think it is a good time to start a paintball shop or paintball field? smile.gif
goldfries
post Dec 20 2009, 05:02 AM

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ahhh paintball. biggrin.gif i have a paintball team. brows.gif

basically are you talking about GROUND UP or what? I'm not a paintball operator BUT from the smattering of information i know - as operator also you need license since paintball markers are like firearms. they can be used to kill.

think about finding the land area, setting up a site with storage and everything, buying house markers, vests, and getting experienced people ...... phew, a lot of work. and the game is NOT CHEAP! and the pellets need good place to store. blablablbala.........

OR you can go about selling accessories and such, like Werdna Hol for example. jersey, marker, pants, masks blabablala........

As for my team does - we help organize events / games. we have our members to marshal the game, including Div III (or was it Div II, can't remember) player with experience to guide. It's on the service part la, site is at TT Sports Park. So $$$ earn through coordinating paintball games and such. biggrin.gif quite alright for side income la, doing it out of sheer passion and having fun.
TSedyek
post Dec 20 2009, 01:14 PM

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Joined: Jan 2009
From: Land of the Hornbills & Land Below the Wind


QUOTE(IGax2000 @ Dec 19 2009, 04:17 PM)
i notice that u manage those successful business not more than 4 years, i wonder if it really provixe good cash flow, why don't u just get someone to take care of it and let snow ball roll become bigger? so what is the latest business u r doing right now?
*
The reason I sold it because I want to raise some capital and cash reserve for investment in land banking and commercial property. I couldn't find any person to manage it for me, as my current status is alone. My family was not in the same city as I am right now. Therefore, I choose to sold it off. My latest venture is seaweed cultivation farm. thumbup.gif


QUOTE(alanaw @ Dec 19 2009, 10:31 PM)
I agree with TS. This is wat i would do if i were in his shoe as well. Most important is make profit and from there invest in property or focus only on 1 high profit margin business. It will be hard if we were to take care of so many business at a time. In the end, the room for growth for business will be limited.
*
Yes. That is correct. Thanks for the clarification. thumbup.gif Too much business at hand will make me haywire.


QUOTE(hazairi @ Dec 20 2009, 12:08 AM)
TS, you sure are a hardworking businessman!
good to hear that..
*
Thanks. Got the blood from my father. biggrin.gif


QUOTE(Humorboy @ Dec 20 2009, 02:50 AM)
i always wanted to start a business but do not have the courage to take the first step...
*
I used to have the same dilemma as you when I 1st started the computer sale & service, and Yes I've fail in my 1st biz. It really needs some pushing and courage to go through this. But if you have taken the 1st step, the rest will come. thumbup.gif


Added on December 20, 2009, 1:29 pm
QUOTE(goldfries @ Dec 20 2009, 03:09 AM)
capital 40 - 50k just for shoplot rental?

care to elaborate further?
*
I've open a thread regarding this at Property sub-forum.


QUOTE(goldfries @ Dec 20 2009, 03:09 AM)
which is why i didn't go into COMPUTER related business.

allow me to share...........

it's volatile and you can't earn if you don't do volume.

when doing small amount (or if those distributors don't TREASURE you) then your COST per item, not inclusive of delivery, is still higher than those retailers at say Lowyat Plaza, or even LYN.

i tried before. didn't put $$$ but try to sell la. the board I sell, with sooooooooooo minimal earning and inclusive delivery, is like RM 10 - 20 more expensive than LYN / LYP sellers.

only thing that helped me was my reputation, even that also sales was minimal. let's not forget warranty issue, say your profit margin is only RM 10 - 20 each item - then what if shit happens? gone already the warranty.

in the end the profit margin just doesn't justify the amount of time and effort put in.

and that is just me selling online - as for edyek's case it's even more difficult as you need to pay rental, utilities, other hardware and stuff, buy stock.

about the volatile part - not all computer parts have fixed price. components like RAM can fluctuate. like 1GB RAM last time, from RM 140, drop to 70, then go up to 110, then so on so forth.

items like graphic card, better still! cost price RM 900, RRP is RM 950. you want to bring in stock, say even if you bring in just 5 la. so you sold 1. profit RM 50 - then 2 months later, new product come out and your goods still around. price drop, RM 800. no matter how you sell it off also you're at a loss already.

and mind you the loss is not necessarily just the retailer / seller side, even distributors have to deal with such losses.

and to add, if you go with EXISTING brands - then good luck fighting with the other established companies in selling. they get lower COST PRICE than you and sell higher volume. you can fight with pricing but how much loss are you willing to take just to penetrate the market?

to go with NEW or LESSER JNOWN brands? then also good luck, lesser brands are often less favored and to persuade people to BUY that brand alone is so difficult, sure it could be really much cheaper for the same item (eg GTS250 vs GTS250) but people's uncertainty over warranty and support is a problem. and with that, you have to put effort into marketing or have to fight with whatever means possible.

that's why you see some brands like Asus, Gigabyte, Galaxy, Sapphire are so widely available while other brands like Albatron, Colorful, Manli, ECS and those are so hard to find. And it's not that they're that bad or being NEW but rather it's just UNKNOWN to the market you're selling to. For example Colorful is #1 brand in China but in M'sia it's ....... what?
*
Agreed, You are having the same experience as me. Nowadays, computer business are really not suitable for small players and business starters. Technology keeps shifting into more advanced stage, and you just can't keep up with all the stock.


QUOTE(toby.c13 @ Dec 20 2009, 04:15 AM)
what about a paintball related business?
with the paintball sports starting to bloom in malaysia,
do u think it is a good time to start a paintball shop or paintball field? smile.gif
*
QUOTE(goldfries @ Dec 20 2009, 05:02 AM)
ahhh paintball. biggrin.gif i have a paintball team. brows.gif

basically are you talking about GROUND UP or what? I'm not a paintball operator BUT from the smattering of information i know - as operator also you need license since paintball markers are like firearms. they can be used to kill.

think about finding the land area, setting up a site with storage and everything, buying house markers, vests, and getting experienced people ...... phew, a lot of work. and the game is NOT CHEAP! and the pellets need good place to store. blablablbala.........

OR you can go about selling accessories and such, like Werdna Hol for example. jersey, marker, pants, masks blabablala........

As for my team does - we help organize events / games. we have our members to marshal the game, including Div III (or was it Div II, can't remember) player with experience to guide. It's on the service part la, site is at TT Sports Park. So $$$ earn through coordinating paintball games and such. biggrin.gif quite alright for side income la, doing it out of sheer passion and having fun.
*
I've look over this business and I'm still thinking is it viable to venture into this. So far, there are only 2 fields setup at my location whereby it is urban type. The one you play in a cage. I've seen some field with forest battleground and old warehouse. If I would venture into this business, I would venture in forest battleground and warehouse.

My concern is:
1. Capital - You need to buy a land/ware house or rent a land/warehouse (cheaper).
2. Equipment - All the guns and stuff
3. License - Still pondering where to get this register.
4. Staff - Experience staff and refree.

Anyone here have the experience in starting this business?

*By the look of it, I don't think it suits me. I've don't play paintball, and I guessing it needs around 50-100k to setup everything? or maybe more.

This post has been edited by edyek: Dec 20 2009, 01:34 PM
dkk
post Dec 20 2009, 02:47 PM

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Was the car wash a long time ago? RM300 + RM150 commission is kind of low. Who did you hire?

10 workers also seems like a lot. If you average 55 cars a day, that's only 5 cars per person. If they work in teams of two, that's only 10 cars per day per person.

The laundry also seems somewhat overstaffed.

PS: There seems to be a car wash at Giant Batu Caves. Well, at least the stall was there. It was a big empty shed, with a long locked cabinet, where i suppose they keep the cleaning stuff. It wasn't open when I went there. The interesting part is they have this membership card thing, where you pay an annual/quarterly fee to be a member, which entitles you to a certain number of free washes, plus discounts on the others.

I thought that was a good idea. Get part of the money up front. If the customer don't come later, you win when they don't cash in their free washes. Alternatively, the customer gets locked-in. He's paid his money, and doesn't want to go to other places. This could be easily done for the laundry as well.

BTW, your seaweed farm, is it in the ocean like they show on TV, in which case, it might be a big plus if you're not on the west coast of peninsular. Or do you do it on-shore?
goldfries
post Dec 20 2009, 06:05 PM

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QUOTE(edyek @ Dec 20 2009, 01:14 PM)
Agreed, You are having the same experience as me. Nowadays, computer business are really not suitable for small players and business starters. Technology keeps shifting into more advanced stage, and you just can't keep up with all the stock.


eh no, i don't have same experience as you. i just have same knowledge. smile.gif

i didn't have to go through that patch because I already know the industry more or less and have tested it a bit and decided to set my time, money, blood and sweat to something else that I can do better.

it's not about what others are doing but about what you can do best. biggrin.gif sometimes better not go into business at all if you're not cut out for it.

QUOTE(edyek @ Dec 20 2009, 01:14 PM)
I've look over this business and I'm still thinking is it viable to venture into this. So far, there are only 2 fields setup at my location whereby it is urban type. The one you play in a cage. I've seen some field with forest battleground and old warehouse. If I would venture into this business, I would venture in forest battleground and warehouse.

My concern is:
1. Capital - You need to buy a land/ware house or rent a land/warehouse (cheaper).
2. Equipment - All the guns and stuff
3. License - Still pondering where to get this register. 
4. Staff - Experience staff and refree.

Anyone here have the experience in starting this business?

*By the look of it, I don't think it suits me. I've don't play paintball, and I guessing it needs around 50-100k to setup everything? or maybe more.


need to consider how long to break-even. sad.gif most experienced people are already committed to their own team / group / companies already.

perhaps your best bet would be the newer / upcoming teams if you're looking for people. license and equipment, whatever those things - the guys in the Paintball Thread guarantee know better. Xtion Paintball is hanging around LYN also.
TSedyek
post Dec 20 2009, 07:30 PM

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QUOTE(dkk @ Dec 20 2009, 02:47 PM)
Was the car wash a long time ago? RM300 + RM150 commission is kind of low. Who did you hire?

10 workers also seems like a lot. If you average 55 cars a day, that's only 5 cars per person. If they work in teams of two, that's only 10 cars per day per person.

The laundry also seems somewhat overstaffed.

PS: There seems to be a car wash at Giant Batu Caves. Well, at least the stall was there. It was a big empty shed, with a long locked cabinet, where i suppose they keep the cleaning stuff. It wasn't open when I went there. The interesting part is they have this membership card thing, where you pay an annual/quarterly fee to be a member, which entitles you to a certain number of free washes, plus discounts on the others.

I thought that was a good idea. Get part of the money up front. If the customer don't come later, you win when they don't cash in their free washes. Alternatively, the customer gets locked-in. He's paid his money, and doesn't want to go to other places. This could be easily done for the laundry as well.

BTW, your seaweed farm, is it in the ocean like they show on TV, in which case, it might be a big plus if you're not on the west coast of peninsular. Or do you do it on-shore?
*
Phillipine/Indo workers. Im not located at west malaysia whereby the workers wages are more higher. smile.gif
The laundry staff is local people. We wash nearly 200 kg per day. That is why 10 workers are adequate.

Yes. I'm located at the east coast of Malaysia, Sabah to be exact.


Added on December 20, 2009, 7:36 pm
QUOTE(goldfries @ Dec 20 2009, 06:05 PM)
it's not about what others are doing but about what you can do best. biggrin.gif sometimes better not go into business at all if you're not cut out for it.
need to consider how long to break-even. sad.gif most experienced people are already committed to their own team / group / companies already.

perhaps your best bet would be the newer / upcoming teams if you're looking for people. license and equipment, whatever those things - the guys in the Paintball Thread guarantee know better. Xtion Paintball is hanging around LYN also.
*
Correct. From my point of view, if i don't even play paintball, how can I ever know whats the selok belok to running the field? After some thinking, its not the business that I would venture in. happy.gif

This post has been edited by edyek: Dec 20 2009, 07:36 PM
wengkee87
post Dec 20 2009, 09:32 PM

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I'm just an ordinary fresh graduate / young working adult hanging around to seek some opportunities. This thread is very valuable, thanks for sharing thumbup.gif
TSedyek
post Dec 21 2009, 07:11 AM

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QUOTE(wengkee87 @ Dec 20 2009, 09:32 PM)
I'm just an ordinary fresh graduate / young working adult hanging around to seek some opportunities. This thread is very valuable, thanks for sharing  thumbup.gif
*
Hope this thread provides you a base line about what kind of small and medium cash flow business that are good for business starters. Good luck. smile.gif
wodenus
post Dec 21 2009, 07:21 AM

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This post has been edited by wodenus: Dec 21 2009, 07:27 AM
airline
post Dec 21 2009, 07:32 AM

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good thread, bump it up

This post has been edited by airline: Dec 21 2009, 07:32 AM
Awakened_Angel
post Dec 21 2009, 09:05 AM

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QUOTE(edyek @ Dec 19 2009, 12:24 PM)
*
WAH...... soooooo many business ar

this is mine... and only sad.gif

business-hardware cum building materials
Capital : 1mil
Partner : 1(my wife)
Location : Nearby Government Office and Residential Area.
Monthly/Daily Income : newly opened(<1 year range from 10k-15k perday)
Workers : 6 workers. RM 400 per person. 2 foreign labour
Duration : <one year.
Opinion : too many competition... big fish tend to eat smaller fish... here`s the catch... cash term, and your business is small, credit term, your sales is big and majority contractor`s term is bad and you`ll be dead...


Added on December 21, 2009, 9:11 am
QUOTE(goldfries @ Dec 20 2009, 04:09 AM)
what TS did was great, however it is far from the complete picture.........

1. how long do you expect the capital to last?
2. who are your competitors and what are they offering?
3. how stiff is the competition? (eg, how aggressive are they? or are there too many around the area?)
4. how do you plan to be different?
5. what's your marketing plan?

that also doesn't add to the complete picture. IMO every business is a battleground, and they're all DIFFERENT.

you can't just jump into a business without proper planning.
*
this is what I notice

and before you start, and you conuld do all the marketing survey thing and etc... but when you actually start, there`s more than meet theeye.. even more indirect competition rather than direct...

this is what I cant do in business.... just sit and ponder when customer will come in..............


Added on December 21, 2009, 9:17 am
QUOTE(wengkee87 @ Dec 20 2009, 10:32 PM)
I'm just an ordinary fresh graduate / young working adult hanging around to seek some opportunities. This thread is very valuable, thanks for sharing  thumbup.gif
*
this is the golden rules from my mum... experience chinaman style...

1) never talk bad/gossip about anyone... if you do, your credibility drops
2) never quarrel with someone till there`s no return... you`ll never know when you`ll meet them again
3) NEVER give credits/terms... you will ONLY know how people will do just not to pay... "you need to be a professional begger before you give credit"
4) if you forcefully give credict/terms based on project basis, get a proper black and white.. you will know how people would do just to bend reality and truth
5) NEVER make a promise you cant keep
6) NEVEr lie to customer


Added on December 21, 2009, 9:24 am
QUOTE(toby.c13 @ Dec 20 2009, 05:15 AM)
what about a paintball related business?
with the paintball sports starting to bloom in malaysia,
do u think it is a good time to start a paintball shop or paintball field? smile.gif
*
I would be delighted if the battlefield is like warscence or alien planet etc rather than obstacles of baloons doh.gif

This post has been edited by Awakened_Angel: Dec 21 2009, 09:24 AM
gunners4ever
post Dec 21 2009, 12:02 PM

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As what I saw here all are needed quite a sum for a capital,anyone mind to share about early stages?How they gain the money,how they start to build their career?That will be interesting,at least for me. tongue.gif
Awakened_Angel
post Dec 21 2009, 12:08 PM

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QUOTE(gunners4ever @ Dec 21 2009, 01:02 PM)
As what I saw here all are needed quite a sum for a capital,anyone mind to share about early stages?How they gain the money,how they start to build their career?That will be interesting,at least for me.  tongue.gif
*
1) you are son of lee kar seng etc....
2) saving from working for decades
3) bank loans(this only apply if you have property for bank to hold)
4) partners.. which might result betrayal or quarrel...
TSedyek
post Dec 21 2009, 03:04 PM

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QUOTE(Awakened_Angel @ Dec 21 2009, 09:05 AM)
WAH...... soooooo many business ar

this is mine... and only  sad.gif

business-hardware cum building materials
Capital : 1mil
Partner : 1(my wife)
Location : Nearby Government Office and Residential Area.
Monthly/Daily Income : newly opened(<1 year range from 10k-15k perday)
Workers : 6 workers. RM 400 per person. 2 foreign labour
Duration : <one year.
Opinion : too many competition... big fish tend to eat smaller fish... here`s the catch... cash term, and your business is small, credit term, your sales is big and majority contractor`s term is bad and you`ll be dead...

*
Nowadays hardware business seems hard to survive, especially those with small capital and surviving in the city. It is not thriving as the golden age 5-10 years ago, whereby there is massive development.
In this kind of business, plus others like distributing or manufacturing etc., whoever gave the most flexible credit term is the winner. And for small capital players, this is bad bad bad. Very very bad, as you need cashflow to cover the overhead and expenses. Unless of course you have a list of major good payer, then that would be fine.

I've a friend who venture in hardware shop in a small town. And frankly speaking his business is good. As small town does not have big players, and he sweep almost all the hardware business in town.

Angel, do you go and tender some big contract? Supplying paint, ironmongery, doors, etc?


Added on December 21, 2009, 3:14 pm
QUOTE(gunners4ever @ Dec 21 2009, 12:02 PM)
As what I saw here all are needed quite a sum for a capital,anyone mind to share about early stages?How they gain the money,how they start to build their career?That will be interesting,at least for me.  tongue.gif
*
Capital.
1. Family
Always approach your family member 1st, as they are the one who will always support you.

2. Relative
Sometimes in life, we do have an uncle/aunty who is rich and nice and is willing to pour in the capital for you.

3. Friends
Invite your friends to venture with you and become your partner in business

4. Bank
Personal loan, charge in your family asset such as house and land. (this I do not encourage)

5. Your savings
If you are prepare to lose the money. Business are not 100% successful.

6. Lucky strike on Jackpot, Toto and etc.


I start my 1st business when my friends invite me to join them, and I asked my dad to pour in the capital for me. Before my dad said yes, he ask me where is my Business Plan. And I told him verbally and this and that and all the things that will get him in to pour in the capital. Finally he agreed.

After half of year of loss, I closed my 1st biz. And all my dad told me was, I know that you would fail because you don't even have the slightest idea about what you are doing. You must know the selok belok of the business and dive into the sea to see the whole iceberg (not the tip only). From that day onwards, I always prepare my bullets before I fully venture into a business. And the rest is history.

*My 1st biz is Computer Sales & Services (a painstaking experience).

This post has been edited by edyek: Dec 21 2009, 03:17 PM
constant
post Dec 21 2009, 03:23 PM

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QUOTE(Awakened_Angel @ Dec 21 2009, 09:05 AM)
WAH...... soooooo many business ar

this is mine... and only  sad.gif

business-hardware cum building materials
Capital : 1mil
Partner : 1(my wife)
Location : Nearby Government Office and Residential Area.
Monthly/Daily Income : newly opened(<1 year range from 10k-15k perday)
Workers : 6 workers. RM 400 per person. 2 foreign labour
Duration : <one year.
Opinion : too many competition... big fish tend to eat smaller fish... here`s the catch... cash term, and your business is small, credit term, your sales is big and majority contractor`s term is bad and you`ll be dead...


Added on December 21, 2009, 9:11 am

this is what I notice

and before you start, and you conuld do all the marketing survey thing and etc... but when you actually start, there`s more than meet theeye.. even more indirect competition rather than direct...

this is what I cant do in business.... just sit and ponder when customer will come in..............


Added on December 21, 2009, 9:17 am
this is the golden rules from my mum... experience chinaman style...

1) never talk bad/gossip about anyone... if you do, your credibility drops
2) never quarrel with someone till there`s no return... you`ll never know when you`ll meet them again
3) NEVER give credits/terms... you will ONLY know how people will do just not to pay... "you need to be a professional begger before you give credit"
4) if you forcefully give credict/terms based on project basis, get a proper black and white.. you will know how people would do just to bend reality and truth
5) NEVER make a promise you cant keep
6) NEVEr lie to customer


Added on December 21, 2009, 9:24 am
I would be delighted if the battlefield is like warscence or alien planet etc rather than obstacles of baloons  doh.gif
*
Pay for local worker only rm400 a month? How to survive? What is the pay of the foreign worker? doh.gif Where is your shop?

goldfries
post Dec 21 2009, 04:12 PM

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QUOTE(gunners4ever @ Dec 21 2009, 12:02 PM)
As what I saw here all are needed quite a sum for a capital,anyone mind to share about early stages?How they gain the money,how they start to build their career?That will be interesting,at least for me.  tongue.gif
QUOTE(Awakened_Angel @ Dec 21 2009, 12:08 PM)
1) you are son of lee kar seng etc....
2) saving from working for decades
3) bank loans(this only apply if you have property for bank to hold)
4) partners.. which might result betrayal or quarrel...
QUOTE(edyek @ Dec 21 2009, 03:04 PM)
Capital.
1. Family
Always approach your family member 1st, as they are the one who will always support you.
from what i see la, the BEST way is to go with Awakened_Angel's point #2.

even if business fail you still lose only what you saved, not ending up in debt to others.

as for partners or family, end up we OWE people. even if $$$ paid up all then still have a TIE / BOND that's forever there.

later anything they can come say "oh don't forget when you started blablablabla.............." some after later see your success they want a PORTION and very hard for you to decline cos you owe them to begin with.

and in worst cases, partners run away. shit happens, money can change people. sad.gif


QUOTE(Awakened_Angel @ Dec 21 2009, 09:05 AM)
I would be delighted if the battlefield is like warscence or alien planet etc rather than obstacles of baloons  doh.gif
there used to be Laser Quest at The Mines. now donno where the game is already. Bad location perhaps?

don't need to deal with dirt and vegetable oil but still die off, I guess time wasn't right for them. I enjoyed playing it, was back in college that time.

am_eniey
post Dec 21 2009, 04:24 PM

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I love this thread, I love these type of businesses where they deal with customers/clients. This is the real deal, this is the real business. Way to go TS, I'll pray for your success in whatever business you are getting into (as long as it's a legal business).
TSedyek
post Dec 21 2009, 04:25 PM

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QUOTE(goldfries @ Dec 21 2009, 04:12 PM)
from what i see la, the BEST way is to go with Awakened_Angel's point #2.

even if business fail you still lose only what you saved, not ending up in debt to others.

as for partners or family, end up we OWE people. even if $$$ paid up all then still have a TIE / BOND that's forever there.

later anything they can come say "oh don't forget when you started blablablabla.............." some after later see your success they want a PORTION and very hard for you to decline cos you owe them to begin with.

and in worst cases, partners run away. shit happens, money can change people. sad.gif
*
Correct. Money do change people. Since I've tie/bond with my father, I don't mind borrow from him to venture in business. whistling.gif
Anyway, after my 2nd venture is a success, I've allocate shares to my father in my company (after all he had invest in me for the 1st biz).

Of course if you use your savings it would be better, but some people just don't save enough to give themself a head start in business. Eventually, they would still have to go and ask for icon_question.gif .

Just be careful when you choose your partner to venture with you. I've learned my partnership lesson in the computer and nasi lemak venture. And now, my partners are doing great ! Never could have ask for a better one. nod.gif


Added on December 21, 2009, 4:28 pm
QUOTE(am_eniey @ Dec 21 2009, 04:24 PM)
I love this thread, I love these type of businesses where they deal with customers/clients. This is the real deal, this is the real business. Way to go TS, I'll pray for your success in whatever business you are getting into (as long as it's a legal business).
*
Thanks am. If I'm not wrong, I do recall from some thread that you are running a laundry business. How is business lately? Mind to share here?

This post has been edited by edyek: Dec 21 2009, 04:28 PM
Awakened_Angel
post Dec 21 2009, 04:29 PM

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QUOTE(edyek @ Dec 21 2009, 04:04 PM)
Nowadays hardware business seems hard to survive, especially those with small capital and surviving in the city. It is not thriving as the golden age 5-10 years ago, whereby there is massive development.
In this kind of business, plus others like distributing or manufacturing etc., whoever gave the most flexible credit term is the winner. And for small capital players, this is bad bad bad. Very very bad, as you need cashflow to cover the overhead and expenses. Unless of course you have a list of major good payer, then that would be fine.

I've a friend who venture in hardware shop in a small town. And frankly speaking his business is good. As small town does not have big players, and he sweep almost all the hardware business in town.
true indeed..... things happen when your supply goods to you and your customer at the same price...

QUOTE
Angel, do you go and tender some big contract? Supplying paint, ironmongery, doors, etc?

*
NOPE... NEVER think of... mine is SME.. not MEGAE.. as each contract will easily sum up to 10 of millions or 100 mills for mega projects

mine range between 10k-100k ++ for each project... for CASH..

two major player....

main con like simedarby or sunway.. or government


Added on December 21, 2009, 4:30 pm
QUOTE(constant @ Dec 21 2009, 04:23 PM)
Pay for local worker only rm400 a month? How to survive? What is the pay of the foreign worker? doh.gif  Where is your shop?
*
foreign? RM 750.00...

government set the minimal line


Added on December 21, 2009, 4:32 pm
QUOTE(goldfries @ Dec 21 2009, 05:12 PM)
from what i see la, the BEST way is to go with Awakened_Angel's point #2.

even if business fail you still lose only what you saved, not ending up in debt to others.

as for partners or family, end up we OWE people. even if $$$ paid up all then still have a TIE / BOND that's forever there.

later anything they can come say "oh don't forget when you started blablablabla.............." some after later see your success they want a PORTION and very hard for you to decline cos you owe them to begin with.

and in worst cases, partners run away. shit happens, money can change people.

*
I have witnessed real brother and so called BROs quarrel till the point of no return... in partnership....

unless, you clearly stated in black and white

This post has been edited by Awakened_Angel: Dec 21 2009, 04:32 PM
TSedyek
post Dec 21 2009, 04:40 PM

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QUOTE(Awakened_Angel @ Dec 21 2009, 04:29 PM)
NOPE... NEVER think of... mine is SME.. not MEGAE.. as each contract will easily sum up to 10 of millions or 100 mills for mega projects

mine range between 10k-100k ++ for each project... for CASH..

two major player....

main con like simedarby or sunway.. or government
*
Ah, so you ask for cash terms and in return you give them a better discount?

I think you can approach some small and medium housing development. My friend approach a medium developer lately to supply paint, doors, ironmongery, WC and tiles. And he contra back half of his contract sum for a unit of terrace house. Not bad actually, considering the developer don't want to input heavy payment, and my friend wants a housing property so that he can sell for higher price upon completion of the project.
am_eniey
post Dec 21 2009, 04:49 PM

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@edyek

My business is currently running well at the moment, I even supply plastic, hangers, liquid detergent and fabric softener to other laundries as well.

I do dry cleaning for other 6 laundries too but for now I have reached the limit (can no longer accept dry cleaning from any new laundry).

Now I'm in the process of learning the methods of cleaning hotel/hostel linen and bedsheets using proper procedure, chemical and machines. My friend in Kuala Kubu Baru is doing such and getting a hefty RM40k per week from linen/bedsheets.

TSedyek
post Dec 21 2009, 05:01 PM

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QUOTE(am_eniey @ Dec 21 2009, 04:49 PM)
@edyek

My business is currently running well at the moment, I even supply plastic, hangers, liquid detergent and fabric softener to other laundries as well.

I do dry cleaning for other 6 laundries too but for now I have reached the limit (can no longer accept dry cleaning from any new laundry).

Now I'm in the process of learning the methods of cleaning hotel/hostel linen and bedsheets using proper procedure, chemical and machines. My friend in Kuala Kubu Baru is doing such and getting a hefty RM40k per week from linen/bedsheets.
*
It's good to hear that. So basically, you sub dry cleaning from 6 laundries because they do not have the technology/knowledge to do dry cleaning? Good strategy. brows.gif

40k is good money. Must be a 5-star hotel? Considering hotel contract contributes the major income for the laundry. There is no such thing as free lunch, and hope your learning is a smooth sailing thus adding a major income to your business. Good luck ! thumbup.gif

Btw, did you take any government contract?

This post has been edited by edyek: Dec 21 2009, 05:04 PM
am_eniey
post Dec 21 2009, 05:14 PM

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QUOTE(edyek @ Dec 21 2009, 05:01 PM)
It's good to hear that. So basically, you sub dry cleaning from 6 laundries because they do not have the technology/knowledge to do dry cleaning? Good strategy. brows.gif

40k is good money. Must be a 5-star hotel? Considering hotel contract contributes the major income for the laundry. There is no such thing as free lunch, and hope your learning is a smooth sailing thus adding a major income to your business. Good luck ! thumbup.gif

Btw, did you take any government contract?
*
40K looks big for those makan gaji people, but it takes more than just the gut, sacrifice and determination to do business. People always think that by doing business, cash flows into their account freely while they sleep at home. That's wrong. This is the typical mindset that brings his/her business down !

5-star hotels have their own laundry for their linen, these contracts normally comes from 2-3 star hotel/hostel, private college hostels and institutes.

Other laundries could easily do the dry cleaning but they don't want to waste their sweat for this complicated type of cleaning. I'll do the job for them. I do the dry cleaning by myself actually, I never allow my staffs to touch any dry cleaning items. This dry cleaning, if you do properly, it might beat the price of any hotel contract.
Awakened_Angel
post Dec 21 2009, 05:57 PM

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QUOTE(edyek @ Dec 21 2009, 05:40 PM)
Ah, so you ask for cash terms and in return you give them a better discount?

I think you can approach some small and medium housing development. My friend approach a medium developer lately to supply paint, doors, ironmongery, WC and tiles. And he contra back half of his contract sum for a unit of terrace house. Not bad actually, considering the developer don't want to input heavy payment, and my friend wants a housing property so that he can sell for higher price upon completion of the project.
*
this is another option for baddebts.. but its the same where contrators unwilling to pay and will mark up the house price slightly higher...

I have few contractors who would contra

for some @$$h0l3 one, some would threatened to burn my house if I dare to ask money or resort ahlong or debt collector

This post has been edited by Awakened_Angel: Dec 21 2009, 06:09 PM
wirelessdude
post Dec 21 2009, 06:16 PM

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- Deleted -

No point sharing cos this forum already has a brilliant and smart-mouth businessman in Awakened Angel.

This post has been edited by wirelessdude: Dec 21 2009, 07:09 PM
Awakened_Angel
post Dec 21 2009, 06:27 PM

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QUOTE(wirelessdude @ Dec 21 2009, 07:16 PM)
Success:
1. Freelance Marketing Consultant
.
*
I want to ask this freelance amateur "consultant" ....

are you willing to be responsible for anything else??

as consultant earn their title for it........

and often people provide "lip service" tend to call themself consultants doh.gif

as consultant bear their decision and be responsible for it... they get sued and get in jail for wrong advice given....
wirelessdude
post Dec 21 2009, 07:07 PM

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It's because of such negative comments and name-calling that people aren't willing to share.

You call me an amateur without even knowing my background or work. Sigh!

QUOTE(Awakened_Angel @ Dec 21 2009, 06:27 PM)
I want to ask this freelance amateur "consultant" ....

are you willing to be responsible for anything else??

as consultant earn their title for it........

and often people provide "lip service" tend to call themself consultants  doh.gif

as consultant bear their decision and be responsible for it... they get sued and get in jail for wrong advice given....
*
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post Dec 21 2009, 07:56 PM

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If really wanna earn in hardware or paint line...you'll have to be one of the taikor or else you won't really earn a lot..
just my 2 cents..
goldfries
post Dec 22 2009, 12:55 AM

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QUOTE(am_eniey @ Dec 21 2009, 05:14 PM)
5-star hotels have their own laundry for their linen, these contracts normally comes from 2-3 star hotel/hostel, private college hostels and institutes.
i've watched some documentary on how large 5-star hotels in Las Vegas outsource their cleaning to dedicated cleaner companies.

i know it's off-topic but you mentioned it so i'd just like to add. biggrin.gif don't be surprised 5-star hotels come to you, they have huge volumes especially during holiday seasons (ok la i think every hotel also).

one thing about business is that starting is NEVER easy. often it goes to "negative", it's more about cost and waiting for customers at the start.

i came to know about a business that was setup by a family (IIRC it's brother and sister), they opened a supposed restaurant at a corner lot. reno and have a few stalls there, not even 3 months they decided to close it. I was like WTH?!??! - news came about that the brother see like no business, then call it quits or something like that. damn stupid, what a joke la.

in the end some Indian took over, setup a mamak restaurant and it's operating so well now. Don't need that many stalls also. 1 nice Malay stall cooking dishes with decent price and their own staff make the nasi kandar, roti and drinks.

the difference between them? Preseverence! oh and of course, being REALISTIC in running business. Clearly the earlier party had no wisdom and knowledge when it comes to running business, having stupid and unrealistic expectations, and then resort to quitting when things don't look good.
SUSmylife4nerzhul
post Dec 22 2009, 08:01 AM

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QUOTE(edyek @ Dec 19 2009, 11:24 AM)
The purpose I open this thread is to gather all business owners to share their experience in Small and Medium cash flow business. This will be a guide to someone out there who intends to invest in small and medium business. I share mine 1st.

2. Nasi Lemak & Kuih Stall
Capital : 10k
Partner : 1
Location : A stall at residential area
Monthly/Daily Income : The peak sales is RM 600 per day. After everything sold out. RM 2 per bungkus nasi lemak. Target 200 bungkus everyday.
Workers : 1 worker. RM 300
Opinion : Fail due to the failure commitment of my partner. Today lazy, do only 50 bungkus. Tommorrow rajin, do 200 bungkus. Therefore, I close down the stall and sold off the stall for 5k. Still RUGI 5k!  vmad.gif
*
Maybe that's because you only paid your 1 worker RM300


Added on December 22, 2009, 8:03 am
QUOTE(edyek @ Dec 19 2009, 11:24 AM)
The purpose I open this thread is to gather all business owners to share their experience in Small and Medium cash flow business. This will be a guide to someone out there who intends to invest in small and medium business. I share mine 1st.

Success :

1. Computer Sales and Services
Capital : 20k
Partner : 2 (Too many chef spoils the broth)
Location : Shoplot.
Monthly/Daily Income : The peak sales is only RM 3,xxx. Lowest RM 50.
Workers : 1 worker. Based on sales commission with base salary RM 500.
Duration : Bear the lost for half a year. Lost all the 20k after deducting all things, rental deposit and etc. and still need to fork in 1k to wind up the company. vmad.gif 
Opinion : Too competitive. Too lousy margin. Too many partners. Since then, I reject every computer venture that approach to me. (They keep pitching how they do it differently, bla bla bla.... and I still end up saying "NO, thanks".)

*
and again, only RM500 pay, and only just 1 worker doing everything

This post has been edited by mylife4nerzhul: Dec 22 2009, 08:03 AM
TSedyek
post Dec 22 2009, 08:41 AM

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QUOTE(mylife4nerzhul @ Dec 22 2009, 08:01 AM)
Maybe that's because you only paid your 1 worker RM300
*
The worker is just helping to sell every morning. Its my partner problem for not supplying enough food to sell.


QUOTE(mylife4nerzhul @ Dec 22 2009, 08:01 AM)
and again, only RM500 pay, and only just 1 worker doing everything
*
That one worker is just a part time computer technician, working from 12pm to 5pm. Basically all the work is done by my partner.


Added on December 22, 2009, 8:46 am
QUOTE(goldfries @ Dec 22 2009, 12:55 AM)
i've watched some documentary on how large 5-star hotels in Las Vegas outsource their cleaning to dedicated cleaner companies.

i know it's off-topic but you mentioned it so i'd just like to add. biggrin.gif don't be surprised 5-star hotels come to you, they have huge volumes especially during holiday seasons (ok la i think every hotel also).

one thing about business is that starting is NEVER easy. often it goes to "negative", it's more about cost and waiting for customers at the start.

i came to know about a business that was setup by a family (IIRC it's brother and sister), they opened a supposed restaurant at a corner lot. reno and have a few stalls there, not even 3 months they decided to close it. I was like WTH?!??! - news came about that the brother see like no business, then call it quits or something like that. damn stupid, what a joke la.

in the end some Indian took over, setup a mamak restaurant and it's operating so well now. Don't need that many stalls also. 1 nice Malay stall cooking dishes with decent price and their own staff make the nasi kandar, roti and drinks.

the difference between them? Preseverence! oh and of course, being REALISTIC in running business. Clearly the earlier party had no wisdom and knowledge when it comes to running business, having stupid and unrealistic expectations, and then resort to quitting when things don't look good.
*
Correct. Perseverance is one of the key to business. Sometimes the pioneer is not always the winner but instead the survivor is the winner. Most indian is good is doing mamak business, but often I hear my friend complaining that they tend to pay their rental late, and sometimes carry forward. sweat.gif

This post has been edited by edyek: Dec 22 2009, 08:46 AM
am_eniey
post Dec 22 2009, 08:47 AM

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QUOTE(goldfries @ Dec 22 2009, 12:55 AM)
i've watched some documentary on how large 5-star hotels in Las Vegas outsource their cleaning to dedicated cleaner companies.

i know it's off-topic but you mentioned it so i'd just like to add. biggrin.gif don't be surprised 5-star hotels come to you, they have huge volumes especially during holiday seasons (ok la i think every hotel also).

one thing about business is that starting is NEVER easy. often it goes to "negative", it's more about cost and waiting for customers at the start.

i came to know about a business that was setup by a family (IIRC it's brother and sister), they opened a supposed restaurant at a corner lot. reno and have a few stalls there, not even 3 months they decided to close it. I was like WTH?!??! - news came about that the brother see like no business, then call it quits or something like that. damn stupid, what a joke la.

in the end some Indian took over, setup a mamak restaurant and it's operating so well now. Don't need that many stalls also. 1 nice Malay stall cooking dishes with decent price and their own staff make the nasi kandar, roti and drinks.

the difference between them? Preseverence! oh and of course, being REALISTIC in running business. Clearly the earlier party had no wisdom and knowledge when it comes to running business, having stupid and unrealistic expectations, and then resort to quitting when things don't look good.
*
Yes 5 star hotels do send their linen to laundries but I would say only about 5%. The volume is indeed huge even their own laundry cannot cope with the works. But the bad thing about 5 star hotel is that they want things to be cleaned as new that gives too much hassle to the contractors (that's quite impossible btw), that's the reason they don't really trust 3rd party laundry and that's why they set up their own laundry.
kaiserwulf
post Dec 22 2009, 09:01 AM

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I dont have biz but this is good thread. Keep it up!
Awakened_Angel
post Dec 22 2009, 09:03 AM

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QUOTE(goldfries @ Dec 22 2009, 01:55 AM)

the difference between them? Preseverence! oh and of course, being REALISTIC in running business. Clearly the earlier party had no wisdom and knowledge when it comes to running business, having stupid and unrealistic expectations, and then resort to quitting when things don't look good.
*
many young businessman aren`t realistec.. many tend plan to be bill gate in shortest time possible...

many fallen into traps of deceive and lost all their money
TSedyek
post Dec 22 2009, 09:06 AM

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QUOTE(am_eniey @ Dec 22 2009, 08:47 AM)
Yes 5 star hotels do send their linen to laundries but I would say only about 5%. The volume is indeed huge even their own laundry cannot cope with the works. But the bad thing about 5 star hotel is that they want things to be cleaned as new that gives too much hassle to the contractors (that's quite impossible btw), that's the reason they don't really trust 3rd party laundry and that's why they set up their own laundry.
*
True enough. My relative is having a small budget hotel with 15 rooms, and he do send his linens to laundry. And astonishingly he have to pay more or less RM 5k per month to get his linens clean and smell nice. I would say the major hotels sending their linens clean would be 2-3 star hotel or budget hotel.


Added on December 22, 2009, 9:09 am
QUOTE(Awakened_Angel @ Dec 22 2009, 09:03 AM)
many young businessman aren`t realistec.. many tend plan to be bill gate in shortest time possible...

many fallen into traps of deceive and lost all their money
*
I do have this wild dream when I first started, until I get a heavy whack from the failure from my 1st biz, I realize dream is just a dream. Being realistic and having an achievable dream is the right way.

My dad advice to me is "Don't wander too far off from your goals."

This post has been edited by edyek: Dec 22 2009, 09:09 AM
Awakened_Angel
post Dec 22 2009, 09:47 AM

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QUOTE(edyek @ Dec 22 2009, 10:06 AM)

I do have this wild dream when I first started, until I get a heavy whack from the failure from my 1st biz, I realize dream is just a dream. Being realistic and having an achievable dream is the right way.

My dad advice to me is "Don't wander too far off from your goals."
*
everyone wants to be like lee kar seng or bill gates.. but miracles don`t happen....in real life...

hard work does...

and if things are too good to be true, it is not true
Dr. Radios
post Dec 22 2009, 09:57 AM

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can someone Help Me about Game Shop...

just A kiosk..

can someone advice me????
TSedyek
post Dec 22 2009, 10:25 AM

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QUOTE(Dr. Radios @ Dec 22 2009, 09:57 AM)
can someone Help Me about Game Shop...

just A kiosk..

can someone advice me????
*
Replied to your thread.
am_eniey
post Dec 22 2009, 11:15 AM

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QUOTE(edyek @ Dec 22 2009, 10:25 AM)
Replied to your thread.
*
I really admire your siggy, they are nothing but the truth !
z21j
post Dec 22 2009, 11:35 AM

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Business In Nature: Photocopying and Printing

Location: PJ, near a few college/uni

Modal: Start up modal is at least 25k only, inclusive of simple renovation, lease machinery (printer, photostat machine) and the necessary item for binding and stapling, 1st month rental,... registration, exclusive of computer for printing purpose and electricity, salary of staff....

Profit: Applicable throughout the year, especially during the 1st moneth of the college/uni commencement date, student will "photocopy" their book.

Point of consideration: Whether photocopy of the wholebook is lawful.

Criteria: Break-even in shortest time. Making profit in large mass.

Involvement in the business: Low (Can simply hire an indonesian to help)

Plz leave a comment for the "point of consideration"

This post has been edited by z21j: Dec 22 2009, 11:36 AM
TSedyek
post Dec 22 2009, 11:45 AM

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QUOTE(z21j @ Dec 22 2009, 11:35 AM)
Business In Nature: Photocopying and Printing

Location: PJ, near a few college/uni

Modal: Start up modal is at least 25k only, inclusive of simple renovation, lease machinery (printer, photostat machine) and the necessary item for binding and stapling, 1st month rental,... registration, exclusive of computer for printing purpose and electricity, salary of staff....  

Profit: Applicable throughout the year, especially during the 1st moneth of the college/uni commencement date, student will "photocopy" their book.

Point of consideration: Whether photocopy of the wholebook is lawful.

Criteria: Break-even in shortest time. Making profit in large mass.

Involvement in the business: Low (Can simply hire an indonesian to help)

Plz leave a comment for the "point of consideration"
*
It is not legal. shakehead.gif
However in Malaysia, there are no enforcement to enforce those copyright laws. My friend is studying in Australia, and their Uni strictly do not allowed photocopy Text book. He come back to Malaysia to buy the text book using RM (which is way cheaper), get a few extra books and bring back to sell in AUD. sweat.gif


*If the Uni is providing architectural course, therefore your colour printing services will have a big boost.

This post has been edited by edyek: Dec 22 2009, 11:50 AM
Awakened_Angel
post Dec 22 2009, 12:04 PM

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QUOTE(edyek @ Dec 22 2009, 12:45 PM)
It is not legal.  shakehead.gif
However in Malaysia, there are no enforcement to enforce those copyright laws. My friend is studying in Australia, and their Uni strictly do not allowed photocopy Text book. He come back to Malaysia to buy the text book using RM (which is way cheaper), get a few extra books and bring back to sell in AUD.  sweat.gif
*If the Uni is providing architectural course, therefore your colour printing services will have a big boost.
*
last time when I studied at TARC, the publisher came with a police and lawyer..

Rm 10,000 for each copy...

the tauke bancrupt on the spot....


goldfries
post Dec 22 2009, 02:48 PM

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our law enforcement organizations are useless la. pirated VCD / DVD shops are all over the place but they never take action also. at night no need to work already. like that how the ORI shop sellers going to survive?

edyek - i love your post but would it be possible to go a little more detail like items than incur cost (eg estimated total start up cost for equipment, worker blablablal.........) then i also just want to check with you - are you TRULY referring to INCOME or that's REVENUE?
TSedyek
post Dec 22 2009, 03:29 PM

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QUOTE(Awakened_Angel @ Dec 22 2009, 12:04 PM)
last time when I studied at TARC, the publisher came with a police and lawyer..

Rm 10,000 for each copy...

the tauke bancrupt on the spot....
*
QUOTE(goldfries @ Dec 22 2009, 02:48 PM)
our law enforcement organizations are useless la. pirated VCD / DVD shops are all over the place but they never take action also. at night no need to work already. like that how the ORI shop sellers going to survive?

edyek - i love your post but would it be possible to go a little more detail like items than incur cost (eg estimated total start up cost for equipment, worker blablablal.........) then i also just want to check with you - are you TRULY referring to INCOME or that's REVENUE?
*
Unless of course the publisher are pissed off. If not, there are no one to enforce those things. But better not to take the risk.

goldfries, I have updated my post with all the items you asked. biggrin.gif

This post has been edited by edyek: Dec 22 2009, 03:55 PM
Awakened_Angel
post Dec 22 2009, 03:35 PM

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QUOTE(goldfries @ Dec 22 2009, 03:48 PM)
our law enforcement organizations are useless la. pirated VCD / DVD shops are all over the place but they never take action also. at night no need to work already. like that how the ORI shop sellers going to survive?
*
one thing funny though

they are busy capturing pirated cd owners while everywhere in shopping mall people are selling it
TSedyek
post Dec 22 2009, 03:54 PM

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QUOTE(Awakened_Angel @ Dec 22 2009, 03:35 PM)
one thing funny though

they are busy capturing pirated cd owners while everywhere in shopping mall people are selling it
*
One thing for sure, there are the dark side of it. I've seen a guy selling pirate CD in a shop at the mall and after 1 year he opens another 1. Until recently he just open 4 shops at different mall. sweat.gif
z21j
post Dec 22 2009, 03:54 PM

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from what i could imply from edyek...the story about his fren from aus, perhaps getting the same product at different country which has lower currency will be an advantage for any type of business....
TSedyek
post Dec 22 2009, 04:01 PM

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QUOTE(z21j @ Dec 22 2009, 03:54 PM)
from what i could imply from edyek...the story about his fren from aus, perhaps getting the same product at different country which has lower currency will be an advantage for any type of business....
*
Yes. Could be a viable business. International Trade. biggrin.gif
jamzz
post Dec 26 2009, 11:05 PM

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Any bro can guide me in f&b line... can elaborate how does thg woks n management of it.... any bro succeed in f&b line r most welcom to share thk....
Awakened_Angel
post Dec 27 2009, 09:27 AM

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QUOTE(jamzz @ Dec 27 2009, 12:05 AM)
Any bro can guide me in f&b line... can elaborate how does thg woks n management of it.... any bro succeed in f&b line r most welcom to share thk....
*
research your self.... google,

or do like what I did.. go to any kopitiam/mamak or mega chain restaurant, order a drink.. sit there for hours... see how their supply chain works.... from ordering to delivery
TSedyek
post Dec 28 2009, 09:29 AM

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QUOTE(jamzz @ Dec 26 2009, 11:05 PM)
Any bro can guide me in f&b line... can elaborate how does thg woks n management of it.... any bro succeed in f&b line r most welcom to share thk....
*
F&B line is a wide industry. What do you have in mind? Cafe? Kopitiam? Restaurant? Franchise F&B?

QUOTE(Awakened_Angel @ Dec 27 2009, 09:27 AM)
research your self.... google,

or do like what I did.. go to any kopitiam/mamak or mega chain restaurant, order a drink.. sit there for hours... see how their supply chain works.... from ordering to delivery
*
Well said. thumbup.gif
There is a time when I decided to open a rest stop with food court. And I've been to MacD to work just to see how their works to apply to the new food court.
Grimm
post Dec 28 2009, 11:51 AM

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I love this thread man. I'll continue reading everyday on your success stories! Ha xD

Might even pick up a thing or two, as I'm planning on looking at student room rental as I was once a student renting rooms and I just KNOW its super damn viable. Those area near the new Taylors College Lakeside Campus sure untung gila now @_@
bekman
post Dec 28 2009, 12:20 PM

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QUOTE(Awakened_Angel @ Dec 22 2009, 03:35 PM)
one thing funny though

they are busy capturing pirated cd owners while everywhere in shopping mall people are selling it
*
This is MALAYSIA BOLEH spirit! tongue.gif


Added on December 28, 2009, 12:24 pm
QUOTE(edyek @ Dec 22 2009, 04:01 PM)
Yes. Could be a viable business. International Trade.  biggrin.gif
*
Please consider transportation / freight charges, custom duty, tax, etc.



This post has been edited by bekman: Dec 28 2009, 12:24 PM
am_eniey
post Dec 28 2009, 02:20 PM

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QUOTE(Grimm @ Dec 28 2009, 11:51 AM)
I love this thread man. I'll continue reading everyday on your success stories! Ha xD

Might even pick up a thing or two, as I'm planning on looking at student room rental as I was once a student renting rooms and I just KNOW its super damn viable. Those area near the new Taylors College Lakeside Campus sure untung gila now @_@
*
renting business can be considered as a side income, however you have to concentrate to a business where you can commit most of your time successing it. renting a property you may consider it as your bonus income.
Awakened_Angel
post Dec 28 2009, 02:35 PM

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QUOTE(edyek @ Dec 28 2009, 10:29 AM)
F&B line is a wide industry. What do you have in mind? Cafe? Kopitiam? Restaurant? Franchise F&B?
Well said.  thumbup.gif
There is a time when I decided to open a rest stop with food court. And I've been to MacD to work just to see how their works to apply to the new food court.
*
yes... there were once where I drew their supply chain on paper....

still, they really perfected 5S, Kaizen, JIT etc....
alpha0822
post Dec 28 2009, 03:04 PM

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learned a lot today, well done on this thread while i will be hookin up with u guys.

lets say if I wants to start off a business via Internet, can any tai kor advice?

currently found 2 partners and got tons of idea been rejected after a clear calculation has been done.
F&B would be a great idea but as my fren says we nid to know how 2 cook, just liked thread owner said. I dowan my chef run and my restaurant jz started/stopped without a chef = =
am_eniey
post Dec 28 2009, 04:29 PM

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QUOTE(alpha0822 @ Dec 28 2009, 03:04 PM)
learned a lot today, well done on this thread while i will be hookin up with u guys.

lets say if I wants to start off a business via Internet, can any tai kor advice?

currently found 2 partners and got tons of idea been rejected after a clear calculation has been done.
F&B would be a great idea but as my fren says we nid to know how 2 cook, just liked thread owner said. I dowan my chef run and my restaurant jz started/stopped without a chef = =
*
Just do any buiness that you are capable of and you are way better compared to your employee. That chef runs away situation is a good example. From what I know, starting a business with partners is like suicide.

My point of view about a beneficial business partner - someone who does a job not the same as what you are doing, I take myself as an example. I operate a laundry outlet and my friend sets up new laundry. Together we provide training to newcomers where he teaches machine installations and operations while I teach those laundry steps and procedures. Independently, we are able to expand our businesses respectively without intefering each others' operations.

If the partnership you mean like you and your friend operate the same business and doing the same job, there will be WAR later on.
alpha0822
post Dec 28 2009, 11:39 PM

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QUOTE(am_eniey @ Dec 28 2009, 04:29 PM)
Just do any buiness that you are capable of and you are way better compared to your employee. That chef runs away situation is a good example. From what I know, starting a business with partners is like suicide.

My point of view about a beneficial business partner - someone who does a job not the same as what you are doing, I take myself as an example. I operate a laundry outlet and my friend sets up new laundry. Together we provide training to newcomers where he teaches machine installations and operations while I teach those laundry steps and procedures. Independently, we are able to expand our businesses respectively without intefering each others' operations.

If the partnership you mean like you and your friend operate the same business and doing the same job, there will be WAR later on.
*
but the best/fastest way to gather capital for SME should start off by partnership right ? We do understand the situation that about all partner was doing the same work and WARs happend, so we do prefer to seek for a good chances and start to plan, actually we do all the research and planning job after we came out for an idea and yet we will know whether is it really can be done, few points to concern were : Capital to start the business , Profit of the business, Competitor of business, future of business, Sources of supplier, and also the 4P of course , Plan, Place , Promotion, Price, and 2M : Management, Manpower. This would be the few facts we will concern on. smile.gif
TSedyek
post Dec 29 2009, 08:53 AM

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QUOTE(Grimm @ Dec 28 2009, 11:51 AM)
I love this thread man. I'll continue reading everyday on your success stories! Ha xD

Might even pick up a thing or two, as I'm planning on looking at student room rental as I was once a student renting rooms and I just KNOW its super damn viable. Those area near the new Taylors College Lakeside Campus sure untung gila now @_@
*
thumbup.gif Thumbs up to room rental for students. Area nearby Taylors college is a good location. Good luck in searching for a good location.


Added on December 29, 2009, 9:30 am
QUOTE(am_eniey @ Dec 28 2009, 04:29 PM)
Just do any buiness that you are capable of and you are way better compared to your employee. That chef runs away situation is a good example. From what I know, starting a business with partners is like suicide.

My point of view about a beneficial business partner - someone who does a job not the same as what you are doing, I take myself as an example. I operate a laundry outlet and my friend sets up new laundry. Together we provide training to newcomers where he teaches machine installations and operations while I teach those laundry steps and procedures. Independently, we are able to expand our businesses respectively without intefering each others' operations.

If the partnership you mean like you and your friend operate the same business and doing the same job, there will be WAR later on.
*
Couldn't agree more. Have the same experience in the computer sales and services venture. mad.gif


Added on December 29, 2009, 8:59 am
QUOTE(alpha0822 @ Dec 28 2009, 11:39 PM)
but the best/fastest way to gather capital for SME should start off by partnership right ? We do understand the situation that about all partner was doing the same work and WARs happend, so we do prefer to seek for a good chances and start to plan, actually we do all the research and planning job after we came out for an idea and yet we will know whether is it really can be done, few points to concern were : Capital to start the business , Profit of the business, Competitor of business, future of business, Sources of supplier, and also the 4P of course , Plan, Place , Promotion, Price, and 2M : Management, Manpower. This would be the few facts we will concern on. smile.gif
*
Too many things to consider... rclxub.gif
Up till now any idea what biz you plan to start?

This post has been edited by edyek: Dec 29 2009, 09:33 AM
alpha0822
post Dec 30 2009, 01:29 AM

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QUOTE(edyek @ Dec 29 2009, 08:53 AM)
thumbup.gif Thumbs up to room rental for students. Area nearby Taylors college is a good location. Good luck in searching for a good location.


Added on December 29, 2009, 9:30 am
Couldn't agree more. Have the same experience in the computer sales and services venture.  mad.gif


Added on December 29, 2009, 8:59 am
Too many things to consider...  rclxub.gif
Up till now any idea what biz you plan to start?
*
its too many for us to calculate, but cant find for a best one so far......so we plan to work for a longer period to gather more capital =)

TSedyek
post Dec 30 2009, 07:22 AM

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QUOTE(alpha0822 @ Dec 30 2009, 01:29 AM)
its too many for us to calculate, but cant find for a best one so far......so we plan to work for a longer period to gather more capital =)
*
Nike says it better. " Just Do It ". brows.gif
thenightcrusader
post Dec 30 2009, 08:33 AM

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edyek sums is best biggrin.gif sometimes we get too overwhelmed by info that we are just paralyzed and afraid to start. one can never fully analyze anything actually. so, do look for opportunities and grab it before it flies away.
Gary1981
post Dec 30 2009, 01:00 PM

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QUOTE(jamzz @ Dec 26 2009, 11:05 PM)
Any bro can guide me in f&b line... can elaborate how does thg woks n management of it.... any bro succeed in f&b line r most welcom to share thk....
*
Get a part time job in any F&B outlet. Start from either waiter or cashier. From there, find your way to learn from shop floor to kitchen, beverage,cashier & people management. In F&B line, kitchen(the chef) is the most important that you should be focus on.
am_eniey
post Dec 30 2009, 07:14 PM

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QUOTE(Gary1981 @ Dec 30 2009, 01:00 PM)
Get a part time job in any F&B outlet. Start from either waiter or cashier. From there, find your way to learn from shop floor to kitchen, beverage,cashier & people management. In F&B line, kitchen(the chef) is the most important that you should be focus on.
*
Correct, as a boss, we must know every operation from labour works to management skills. We can still operate it even the employee runs away although it's a bit tiring (I've had this experience before) but the business runs as usual. All (I mean all with no exception) employees are not trustworthy at all. All bosses must be ready for this.
jamzz
post Dec 30 2009, 11:15 PM

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QUOTE(am_eniey @ Dec 30 2009, 07:14 PM)
Correct, as a boss, we must know every operation from labour works to management skills. We can still operate it even the employee runs away although it's a bit tiring (I've had this experience before) but the business runs as usual. All (I mean all with no exception) employees are not trustworthy at all. All bosses must be ready for this.
*
bro anyway to prevent agains tis kind of half hearted employee & usually wat de choice for woker to hire? indon or local?
IGax2000
post Dec 30 2009, 11:42 PM

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local ppl should be consider 1st....
don't u realise that KL is flooding with a lot foreign worker nowadays...sorry no offended.
Just my opinion!!
am_eniey
post Dec 31 2009, 12:10 AM

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@Jamzz & @IGax2000

Yes we have to search for local worker first but we all know that locals are the real scumbags (not all but most of them) and I'm not siding on the foreigners neither. You see the situation here, a cheap foreign labour accepts a RM600 salary per month compared to a RM1000 per month for local for doing the same work. Yes all business owners are able to give that amount but you people have to take note that most businesses hire foreign worker to cut their costs. As their costs can be cut through that, they can reduce the price of their goods and services. Compared to the business owners who hire 100% locals with RM1000 payout monthly, surely they can't survive it if their price of goods and services are similar with those who hire foreign labourers. If they increase the price just to cover the salaries of the locals, nobody would come and buy goods and services at their shops/outlets. We as business owners must also imagine ourselves as a consumer, in general, we will go shop at outlets where the price is the cheapest disregarding who works either local or foreigner. We as consumers really don't care. It's the price that matters. I wish my employees are all locals but for now, it would kill me as my rivals around me only hires Indonesian/Bangla workers to run their businesses. I got no choice. They problems with locals, you know, they are smart, they know how to lie, they like to skip coming to work with millions of excuses, they want long long holiday ( dad is getting married again, mother's friend is sick, friends's birthday party, fever, cold, cough, H1N1, AIDS, HIV and so on but all are bullcrap ). I wish the government allow the business owners to increase their price just to give job opportunities to locals and prevent foreigners from getting in. But again if this rule is enforced, many bosses will take advantage to increase the prices but maintains their illegal foreign workforce instead of replacing them with locals. This problem until now I can't figure out how to solve it.
Gary1981
post Dec 31 2009, 12:26 AM

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QUOTE(jamzz @ Dec 30 2009, 11:15 PM)
bro anyway to prevent agains tis kind of half hearted employee & usually wat de choice for woker to hire? indon or local?
*
IMHO, you can try Burmese and sabah & sarawak. These people are hardworking and has no problem in communicate. Though vietnamese can consider but they have problem communicate.
TSedyek
post Dec 31 2009, 08:48 AM

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QUOTE(Gary1981 @ Dec 31 2009, 12:26 AM)
IMHO, you can try Burmese and sabah & sarawak. These people are hardworking and has no problem in communicate. Though  vietnamese can consider but they have problem communicate.
*
Same thing goes with Sabah & Sarawak. They are locals. And locals are not cheap considering they are in fact at least primary 6 educated. I'm using foreign workers as well as they are more cheaper than the locals. More hardworking and more loyal (compare with the locals).

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It depends on what you recruit them for purpose. For me, I dont classify the CHEAP to recruit a good labour. I wiling to pay if they serve their job good. Perhaps you should try out sabah & sarawak workers. I have a lot business & contractors friends that recruit this people (From 1k-2k range). They are strong and hardworking. Just treat them as a HUMAN & part of your family in your company. I was suprise when a business friend of mine told me he gave his worker(sabahan) which work for 6 years at salary 2k.

This post has been edited by Gary1981: Dec 31 2009, 10:02 AM
TSedyek
post Dec 31 2009, 10:30 AM

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QUOTE(Gary1981 @ Dec 31 2009, 10:01 AM)
It depends on what you recruit them for purpose. For me, I dont classify the CHEAP to recruit a good labour. I wiling to pay if they serve their job good. Perhaps you should try out sabah & sarawak workers. I have a lot business & contractors friends that recruit this people (From 1k-2k range). They are strong and hardworking. Just treat them as a HUMAN & part of your family in your company. I was suprise when a business friend of mine told me he gave his worker(sabahan) which work for 6 years at  salary 2k.
*
Yes. That is correct. You just have to treat them right. That is the whole point of it. thumbup.gif
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Sifha238
post Jan 1 2010, 07:58 PM

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I think besides telling the success / failure of the business, it's better if any business sifu can tell about how they start the business, things to do before start the business to make sure you won't be in trouble in future, where they go to get all the thing needed, the obstacle etc

It's will be good for anyone that want to start small / medium business, in my opinion
mousepad87
post Jan 1 2010, 11:36 PM

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Hoho nice topic and thanks for sharing! biggrin.gif

i'm currently final year student taking civil engineering.

I started my business in this forum. I decide to do online business rather than playing game. to be honest doing online business just like played games. tongue.gif

At first I start by selling second hand stuff in this forum.
then i apply to be distributor for computer and laptop. Selling laptop and computer in online and to juniors at my university. (i'm so proud of my self manage to convince supplier to allowed me to be their distributor - same supplier for lowyat plaza shoppers) - manage to do it by email and 1 phone call tongue.gif

like most people said, computer business is very low profit margin. petrol,time and problem not worth for me to go on. so i stop selling IT product.

then I dont have anything else to do and get bored. so I get item from other websites and sell it here. manage to get decent profit. one of the thing i sold are boxing bag flex.gif .

Now i'm trying to import few goods from US and sell it back here. owh.. I also invest in rubber state in thailand. invest rm1k and get rm2k in just 10months.(i have friends over there). land owner need money and agree to give the rubber state to us for 10months nod.gif .

Now i'm helping my mom to monitor/repair and collect money from her rental house.

she also have 4 acre empty agriculture land. basically she "give" me this land and ask me to do something with it. this land strictly for agriculture only.still doing my research what the best agriculture to do rite now. i have very limited capital(she will give me).

I have 2 ridiculous idea. 1 to produce civet coffee and another 1 is to make malaysia 1st venom/snake farm. I dont think it possible to do this. but i like this idea especially venom farm. as we know venom are highly valuable in biomedical industries. I wish i have expertise in handling snake hmm.gif


sorry for my bad bad english. i'm not good in language dawg sweat.gif . hope this will give motivation to student or youth who want to start business. honestly i said there is plenty2 of business opputunity out there. everyone will have the chance to do it. to be successful u have to have guts and the most important thing is to be hardworking! thumbup.gif

This post has been edited by mousepad87: Jan 2 2010, 11:30 AM
TSedyek
post Jan 2 2010, 08:30 AM

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QUOTE(Sifha238 @ Jan 1 2010, 07:58 PM)
I think besides telling the success / failure of the business, it's better if any business sifu can tell about how they start the business, things to do before start the business to make sure you won't be in trouble in future, where they go to get all the thing needed, the obstacle etc

It's will be good for anyone that want to start small / medium business, in my opinion
*
That will be very a long story. If you are interested in which business, then you can request for that particular business. biggrin.gif


Added on January 2, 2010, 8:46 am
QUOTE(mousepad87 @ Jan 1 2010, 11:36 PM)
Now i'm helping my mom to monitor/repair and collect money from her rental house.

she also have 4 acre empty agriculture land. basically she "give" me this land and ask me to do something with it. this land strictly for agriculture only.still doing my research what the best agriculture to do rite now. i have very limited capital(she will give me).

I have 2 ridiculous idea. 1 to produce civet coffee and another 1 is to make malaysia 1st venom/snake farm. I dont think it possible to do this. but i like this idea especially venom farm. as we know venom are highly valuable in biomedical industries. I wish i have expertise in handling snake hmm.gif 
sorry for my bad bad english. i'm not good in language dawg sweat.gif . hope this will give motivation to student or youth who want to start business. honestly i said there is plenty2 of business or opputunity to make money. one thing very important is you must be hardworking and not shy thumbup.gif
*
1) You definitely cannot operate a snake farm. Those reptiles need license from Jabatan Haiwan to be rear, and those license are unlikely to be approved. Operating a snake farm is not as easy as you think, and how would you want to make a profit out of it? If you are selling venoms to hospital, i highly doubt you can do that as you need license from Jabatan Kesihatan. If you sell snakes, you need buy/sell license from Jabatan Haiwan again. Therefore, before you even make a profit, you've broke you bank in applying those license.

2)As I've said, if you are producing civet coffee (Kopi Luwak), hence you ALSO need license from Jabatan Haiwan to do so. If you tend to use animals in your business, you cannot run away from applying license from Jabatan Haiwan. It will be a different story if you are rearing those civet in Indo and start your business there. I know civet coffee is one of the most expensive coffee in the world, and there is a reason why it is so rare. The cost of taking care the civet is huge, and you need human labour to process the coffee after they poo.

3) If your 4 acres land is in the path of future development, I suggest you to go to Land & Survey Department to convert your land into residential or commercial purposes.
If the land is not in the path of future development, you can think of something to plant/cultivate. If you want to save all the headache, you can rent the land to some farmers to plant padi, veges, rear animals and etc.

This post has been edited by edyek: Jan 2 2010, 08:46 AM
mousepad87
post Jan 2 2010, 10:58 AM

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QUOTE(edyek @ Jan 2 2010, 08:30 AM)

1) You definitely cannot operate a snake farm. Those reptiles need license from Jabatan Haiwan to be rear, and those license are unlikely to be approved. Operating a snake farm is not as easy as you think, and how would you want to make a profit out of it? If you are selling venoms to hospital, i highly doubt you can do that as you need license from Jabatan Kesihatan. If you sell snakes, you need buy/sell license from Jabatan Haiwan again. Therefore, before you even make a profit, you've broke you bank in applying those license.

2)As I've said, if you are producing civet coffee (Kopi Luwak), hence you ALSO need license from Jabatan Haiwan to do so. If you tend to use animals in your business, you cannot run away from applying license from Jabatan Haiwan. It will be a different story if you are rearing those civet in Indo and start your business there. I know civet coffee is one of the most expensive coffee in the world, and there is a reason why it is so rare. The cost of taking care the civet is huge, and you need human labour to process the coffee after they poo.

3) If your 4 acres land is in the path of future development, I suggest you to go to Land & Survey Department to convert your land into residential or commercial purposes.
If the land is not in the path of future development, you can think of something to plant/cultivate. If you want to save all the headache, you can rent the land to some farmers to plant padi, veges, rear animals and etc.
*
thanks for suggesting me to convert the land from agriculture to commercial land. honestly the land is in the middle of on going agriculture land but at the same time few km from small/medium town in Selangor. I wonder if it will valuable enough or able to attract buyer to buy property there, science they have to travel between fish and chicken farm sweat.gif .

anyway i will try ask L&S Department, so i can have my future planing. maybe I can develop this land when i'm already be a contractor, let say in next 10 years? whistling.gif

If i rent the land to farmers, would they asking for long term contract. surely they tried to minimize the cost of mobilization. if they asking for 20years rent contract ..then i dont have my chance to do my own farming there. unless i rent half of the land nod.gif .

one other option is to find partners hmm.gif instead of partners maybe I should go to ministry of agriculture and see what they can help.

I should have enough knowledge before i making my final decision. I will let u guys know what my final decision. if u guys have any recommendation, i'm well appreciate rclxms.gif biggrin.gif
TSedyek
post Jan 2 2010, 11:36 AM

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QUOTE(mousepad87 @ Jan 2 2010, 10:58 AM)
thanks for suggesting me to convert the land from agriculture to commercial land. honestly the land is in the middle of on going agriculture land but at the same time few km from small/medium town in Selangor. I wonder if it will valuable enough or able to attract buyer to buy property there, science they have to travel between fish and chicken farm sweat.gif .

anyway i will try ask L&S Department, so i can have my future planing. maybe I can develop this land when i'm already be a contractor, let say in next 10 years? whistling.gif

If i rent the land to farmers, would they asking for long term contract. surely they tried to minimize the cost of mobilization. if they asking for 20years rent contract ..then i dont have my chance to do my own farming there. unless i rent half of the land nod.gif .

one other option is to find partners hmm.gif  instead of partners maybe I should go to ministry of agriculture and see what they can help.

I should have enough knowledge before i making my final decision. I will let u guys know what my final decision. if u guys have any recommendation, i'm well appreciate rclxms.gif  biggrin.gif
*
You never know what the future gonna be. Who knows in the future the fish and chicken farm is going to be a residential area?

Good luck. thumbup.gif


convivencia
post Jan 2 2010, 01:11 PM

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QUOTE(Awakened_Angel @ Dec 27 2009, 09:27 AM)
or do like what I did.. go to any kopitiam/mamak or mega chain restaurant, order a drink.. sit there for hours... see how their supply chain works.... from ordering to delivery
*
dude ...

supply chain ain't "ordering to delivery"

pls google the real meaning of "supply chain" before you wanna spam here

dropping technical jargon may seems cool to the greenhorns, but to those who know what "Supply Chain" really mean, please ...


and by the way, back to the real topic

sitting in a mamak store for hours ain't gonna give anyone any insight on how to operate a mamak store

else you can just sit in a 7-11 for a whole day and go out to build a much better "8-12" chain to defeat 7-11 in their own game

business don't work this way

in F&B, one has to know about food and drinks, know how to keep the food fresh, know how to make the drink interesting and know how to keep the cost low so to make profit out of the operation

please be careful of those "experts" who tell you he can draw "Supply Chain" on toilet paper, else you would end up losing your life savings

This post has been edited by convivencia: Jan 2 2010, 01:41 PM
Looi
post Jan 2 2010, 03:14 PM

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QUOTE(Sifha238 @ Jan 1 2010, 07:58 PM)
I think besides telling the success / failure of the business, it's better if any business sifu can tell about how they start the business, things to do before start the business to make sure you won't be in trouble in future, where they go to get all the thing needed, the obstacle etc

It's will be good for anyone that want to start small / medium business, in my opinion
*
that is correct because they have the knowledge inside their mind.
convivencia
post Jan 2 2010, 03:43 PM

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QUOTE(Looi @ Jan 2 2010, 03:14 PM)
that is correct because they have the knowledge inside their mind.
*
the biggest factor why new business chup lup is cash

they ran out of cash

it goes without saying that if you want to start a business, you must make sure you have enough cash

cash that can let your business run for at least 6 months

else, don't start

i have friends who have started business, making good progress, but ran out of cash

it is sad to see them having to run around looking for cash, begging others to borrow cash, time that they could put to better use by making their business runs better
mousepad87
post Jan 2 2010, 03:59 PM

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QUOTE(convivencia @ Jan 2 2010, 03:43 PM)
the biggest factor why new business chup lup is cash

they ran out of cash

it goes without saying that if you want to start a business, you must make sure you have enough cash

cash that can let your business run for at least 6 months

else, don't start

i have friends who have started business, making good progress, but ran out of cash

it is sad to see them having to run around looking for cash, begging others to borrow cash, time that they could put to better use by making their business runs better
*
may i add up few more point. dont flame me if i'm wrong.

from my experience few thing u have to consider other than cash flow.

U have to know who ur client(how many of them/what their buying power) and who ur competitors are. without knowing them is like hoping a fruit to fall down from a tree to ur mouth.

cash flow is very important also. u have to studied if u have enough liquidity especially when u involve credit term business.

one thing i think most people overlook is financial cost. cost when their borrow money from bank. interest rate and so on. one thing for sure dont buy ur stock using credit card and loan shark money nod.gif

i'm still a student correct me if i'm wrong biggrin.gif
Awakened_Angel
post Jan 3 2010, 09:15 AM

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QUOTE(convivencia @ Jan 2 2010, 02:11 PM)
dude ...

supply chain ain't "ordering to delivery"

pls google the real meaning of "supply chain" before you wanna spam here

dropping technical jargon may seems cool to the greenhorns, but to those who know what "Supply Chain" really mean, please ...
and by the way, back to the real topic

sitting in a mamak store for hours ain't gonna give anyone any insight on how to operate a mamak store

else you can just sit in a 7-11 for a whole day and go out to build a much better "8-12" chain to defeat 7-11 in their own game

business don't work this way

in F&B, one has to know about food and drinks, know how to keep the food fresh, know how to make the drink interesting and know how to keep the cost low so to make profit out of the operation

please be careful of those "experts" who tell you he can draw "Supply Chain" on toilet paper, else you would end up losing your life savings
*
I am from engineering background and worked in factory.. so indeed, what I said aint BS or spamming...

supply chain will make your company run more efficient... not make your market sharea bigger.. that is marketing d...


vanguish
post Jan 3 2010, 10:40 AM

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I think at the early stage most of the people will be suffering from cash flow problems.

I'm seems like covering 10pots with 7 covers that kind of situation. I think the most important is the individual mindset, without a strong mindset you may not be even pass throught this stage.

I came from a lower middle class family. I still remembers the time when i came out and started my business. I was using credit card money to roll, haha.. it's dangerous and almost got me into trouble. I blown all my cards, but somehow i managed to put through.

More important is i think the person must be mentaly ready to face the challenges up ahead in running a business. Business needs time and patience to bear fruit. My partners all quit halfway and even 1 partner quit at the beginning of the journey.

Hope you have a good experience in running your business.
TSedyek
post Jan 3 2010, 12:21 PM

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QUOTE(vanguish @ Jan 3 2010, 10:40 AM)
I still remembers the time when i came out and started my business. I was using credit card money to roll, haha.. it's dangerous and almost got me into trouble. I blown all my cards, but somehow i managed to put through.
*
Using CC is one of the most dumbest tactic, and you are one lucky dude. notworthy.gif
melthq
post Jan 3 2010, 03:30 PM

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QUOTE(vanguish @ Jan 3 2010, 10:40 AM)
I think at the early stage most of the people will be suffering from cash flow problems.

I'm seems like covering 10pots with 7 covers that kind of situation. I think the most important is the individual mindset, without a strong mindset you may not be even pass throught this stage.

I came from a lower middle class family. I still remembers the time when i came out and started my business. I was using credit card money to roll, haha.. it's dangerous and almost got me into trouble. I blown all my cards, but somehow i managed to put through.

More important is i think the person must be mentaly ready to face the challenges up ahead in running a business. Business needs time and patience to bear fruit. My partners all quit halfway and even 1 partner quit at the beginning of the journey.

Hope you have a good experience in running your business.
*
The risk is indeed very high but it is still possible, I have friends who managed to go through as well. But yes he blown all the cards he have biggrin.gif
Sifha238
post Jan 3 2010, 08:12 PM

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QUOTE(Looi @ Jan 2 2010, 04:14 PM)
that is correct because they have the knowledge inside their mind.
*
Just simple question but I sure most people out there still wondering about this tongue.gif

Do we need business license even for small business ? and how / where to get it ?

Is Bank Loan the only option we have as our business starting capital ? Can we loan money from other agency ? Which one better choice in your opinion ?

This post has been edited by Sifha238: Jan 3 2010, 08:35 PM
TSedyek
post Jan 3 2010, 09:23 PM

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QUOTE(Sifha238 @ Jan 3 2010, 08:12 PM)
Just simple question but I sure most people out there still wondering about this  tongue.gif

Do we need business license even for small business ? and how / where to get it ?

Is Bank Loan the only option we have as our business starting capital ? Can we loan money from other agency ? Which one better choice in your opinion ?
*
Yes. Technically you need business license for business. Some choose to operate business at home without using license. But if you tend to widen and advance your business to advance advance stage, you need business license.
If you are doing small business, you can opt for trading license whereby you can register it at your local council.
If you are doing medium/big business, best recommended to go for a sdn. bhd.

Bank loan is not the only option in starting capital. There are family, friends, partners, capitalist, agency, and etc.
For starters, it is better if you use your own savings. If you don't have savings, go and ask support from your family & friends. If you family & friends do not support you, look for partners to invest capital. If you can't find partners with capital, look for capitalist. If you can't find capitalist, search for agency/bank to finance you.

Ultimately, there is no fix fules in financing a business. As long as you can break even your business, it will be fine.

This post has been edited by edyek: Jan 3 2010, 09:27 PM
am_eniey
post Jan 12 2010, 05:41 PM

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QUOTE(am_eniey @ Dec 31 2009, 12:10 AM)
@Jamzz & @IGax2000

Yes we have to search for local worker first but we all know that locals are the real scumbags (not all but most of them) and I'm not siding on the foreigners neither. You see the situation here, a cheap foreign labour accepts a RM600 salary per month compared to a RM1000 per month for local for doing the same work. Yes all business owners are able to give that amount but you people have to take note that most businesses hire foreign worker to cut their costs. As their costs can be cut through that, they can reduce the price of their goods and services. Compared to the business owners who hire 100% locals with RM1000 payout monthly, surely they can't survive it if their price of goods and services are similar with those who hire foreign labourers. If they increase the price just to cover the salaries of the locals, nobody would come and buy goods and services at their shops/outlets. We as business owners must also imagine ourselves as a consumer, in general, we will go shop at outlets where the price is the cheapest disregarding who works either local or foreigner. We as consumers really don't care. It's the price that matters. I wish my employees are all locals but for now, it would kill me as my rivals around me only hires Indonesian/Bangla workers to run their businesses. I got no choice. They problems with locals, you know, they are smart, they know how to lie, they like to skip coming to work with millions of excuses, they want long long holiday ( dad is getting married again, mother's friend is sick, friends's birthday party, fever, cold, cough, H1N1, AIDS, HIV and so on but all are bullcrap ). I wish the government allow the business owners to increase their price just to give job opportunities to locals and prevent foreigners from getting in. But again if this rule is enforced, many bosses will take advantage to increase the prices but maintains their illegal foreign workforce instead of replacing them with locals. This problem until now I can't figure out how to solve it.
*
still no respon for this !
barista
post Jan 12 2010, 05:56 PM

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I'm thinking of doing something which does not involve hiring workers at the moment. Have own office lot which is not rented out. Perhaps I can use it for my own business but I don't know what to do yet tongue.gif
IGax2000
post Jan 12 2010, 11:01 PM

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QUOTE(am_eniey @ Jan 12 2010, 05:41 PM)
still no respon for this !
*
actually what bro eydek said is very true, that's the problem that most of the business owner facing. Nowadays, really hard to get local ppl cuz for example fresh graduate not willing to lower down their salary requirement, working attitute not so good lar...bla bla..

i come from interior furnishing line, i also hard to get local young man to work, they think the work is very hard and want to work with aircon environment like shopping center.

as a businessman, our main purpose is to earn money. but this time i really stay firm with my position not to take any foreigner as worker . i don't mind paying higher to local ppl.

all back to the basis, this is our goverment policies problem. seems like until today, they still let this scenario rolling!! vmad.gif
Moolah
post Jan 12 2010, 11:02 PM

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QUOTE(barista @ Jan 12 2010, 05:56 PM)
I'm thinking of doing something which does not involve hiring workers at the moment. Have own office lot which is not rented out. Perhaps I can use it for my own business but I don't know what to do yet tongue.gif
*
Like a lot of forumers, I sick and tired of working for others and want to start my own business one day. But I'm also not sure what business to start yet tongue.gif
am_eniey
post Jan 13 2010, 10:45 AM

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QUOTE(IGax2000 @ Jan 12 2010, 11:01 PM)
actually what bro eydek said is very true, that's the problem that most of the business owner facing. Nowadays, really hard to get local ppl cuz for example fresh graduate not willing to lower down their salary requirement, working attitute not so good lar...bla bla..

i come from interior furnishing line, i also hard to get local young man to work, they think the work is very hard and want to work with aircon environment like shopping center.

as a businessman, our main purpose is to earn money. but this time i really stay firm with my position not to take any foreigner as worker . i don't mind paying higher to local ppl.

all back to the basis, this is our goverment policies problem. seems like until today, they still let this scenario rolling!! vmad.gif
*
That one was what I posted earlier...not edyek. But whatever it is, there's still no solution !
Gary1981
post Jan 13 2010, 11:12 AM

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QUOTE(barista @ Jan 12 2010, 05:56 PM)
I'm thinking of doing something which does not involve hiring workers at the moment. Have own office lot which is not rented out. Perhaps I can use it for my own business but I don't know what to do yet tongue.gif
*
You can always start One Man Show & not neccesary need an office lot to start a business. The key is are you READY and KNOW HOW to start a business. Always remember to start small & growth big. Before you start a business, ask yourself do you know how to CREATE & CLOSE a SALES. Dont ever RUSH into business. IN fact business takes longer time to generate SEEDS which people think (3-6months) is sufficient, IS NOT....It can be YEARS. You must be very competent on how to manage your CAPITAL.

People always think to start a business, i MUST have a company registered, a shop lot, a website, and all this already becomes a burden to them when they havent capable to generate their first CENTS for their business. You can think of above when you see your business at a potential stage of growth. Dont be SILLY, you have a office shop lot, you will get SALES.

Just my share of tought.
am_eniey
post Jan 13 2010, 12:12 PM

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QUOTE(barista @ Jan 12 2010, 05:56 PM)
I'm thinking of doing something which does not involve hiring workers at the moment. Have own office lot which is not rented out. Perhaps I can use it for my own business but I don't know what to do yet tongue.gif
*
when the business grows, you MUST hire somebody.
ohserena
post Jan 13 2010, 01:20 PM

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Hi just saw in today paper about this SEAWEED Project in Sabah turned out to be a scam.
http://www.sinchew.com.my/node/145805?tid=1


Guys, beware before invest ur money on any business.
TSedyek
post Jan 14 2010, 12:58 PM

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QUOTE(am_eniey @ Jan 13 2010, 10:45 AM)
That one was what I posted earlier...not edyek. But whatever it is, there's still no solution !
*
Up-to-date i still don't have the solution for this. Workers do come and go. As long as we treat them right, most of them will stay put and work hard for us.

thumbup.gif


Added on January 14, 2010, 1:00 pm
QUOTE(Moolah @ Jan 12 2010, 11:02 PM)
Like a lot of forumers, I sick and tired of working for others and want to start my own business one day. But I'm also not sure what business to start yet  tongue.gif
*
Most people wants to be self-employed / boss. You got to be sure of what you want to do first before you leave your job. Take your time. Seize the right timing and Good luck.

This post has been edited by edyek: Jan 14 2010, 01:00 PM
vogipike
post Jan 14 2010, 09:28 PM

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[quote=edyek,Dec 19 2009, 12:24 PM]
The purpose I open this thread is to gather all business owners to share their experience in Small and Medium cash flow business. This will be a guide to someone out there who intends to invest in small and medium business. I share mine 1st.



2. Laundry
Capital : 10k (I take over from someone who owes money to the loan shark, and he needs money urgently.) brows.gif
a. Take over all the shop which includes 2 heavy duty washing machine , 3 heavy duty dryers, 2 iron and board, etc.
Partner : None
Location : Apartment area (Approx. 5,000 units). The only laundry available as there are only 2 rows of shoplot own by the same owner and I pay slightly higher rent to the owner and signed an agreement with him not to rent to any other laundry. brows.gif
Monthly/Daily Income : RM 4 per kg (all kinds of clothes). Average income RM 25,000 per month. (Do not include contract wash from nearby reflexology centre, cafes and restaurant)
Workers : 10 workers. RM 400 per person. With commission RM 0.50 per kg and includes lunch
Duration : Manage it for 2 years and sell it off.
Opinion : Good cash flow business. For walk-in business, find location with medium/heavy populated residential area. thumbup.gif

Hi...

I'm interested in starting a laundry business in Kuching Sarawak. Since you are in the laundry business. Which supplier do you go for purchasing your detergent and chemicals? Could you recommend me your supplier?
am_eniey
post Jan 15 2010, 12:57 PM

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[quote=vogipike,Jan 14 2010, 09:28 PM]
[quote=edyek,Dec 19 2009, 12:24 PM]
The purpose I open this thread is to gather all business owners to share their experience in Small and Medium cash flow business. This will be a guide to someone out there who intends to invest in small and medium business. I share mine 1st.
2. Laundry
Capital : 10k (I take over from someone who owes money to the loan shark, and he needs money urgently.) brows.gif
a. Take over all the shop which includes 2 heavy duty washing machine , 3 heavy duty dryers, 2 iron and board, etc.
Partner : None
Location : Apartment area (Approx. 5,000 units). The only laundry available as there are only 2 rows of shoplot own by the same owner and I pay slightly higher rent to the owner and signed an agreement with him not to rent to any other laundry. brows.gif
Monthly/Daily Income : RM 4 per kg (all kinds of clothes). Average income RM 25,000 per month. (Do not include contract wash from nearby reflexology centre, cafes and restaurant)
Workers : 10 workers. RM 400 per person. With commission RM 0.50 per kg and includes lunch
Duration : Manage it for 2 years and sell it off.
Opinion : Good cash flow business. For walk-in business, find location with medium/heavy populated residential area. thumbup.gif

Hi...

I'm interested in starting a laundry business in Kuching Sarawak. Since you are in the laundry business. Which supplier do you go for purchasing your detergent and chemicals? Could you recommend me your supplier?
*

[/quote]

My friend supplies laundry machines and I supply plastic materials/hangers/detergent/softener
TSedyek
post Jan 15 2010, 01:09 PM

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QUOTE(vogipike @ Jan 14 2010, 09:28 PM)
Hi...

I'm interested in starting a laundry business in Kuching Sarawak. Since you are in the laundry business. Which supplier do you go for purchasing your detergent and chemicals? Could you recommend me your supplier?
*
QUOTE(am_eniey @ Jan 15 2010, 12:57 PM)
My friend supplies laundry machines and I supply plastic materials/hangers/detergent/softener
*
Vogi, you can try to PM am_eniey. He's involved in laundry business. Directly supplier price from KL to Kuching for you. thumbup.gif
Beast-Slayer
post Jan 15 2010, 05:02 PM

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good thread.. looking forward for my 1st business this year. But a lot of studies i need to do.. was thinking venturing in cybercafe but it's not easy. Still thinking about options that i have, i dont have any specialize skills but i'm confident with my management skills. Good info shared by TS..
cynthusc
post Jan 15 2010, 05:30 PM

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I agree with the posters that say: start small.

My other tips:-
1. Substantially reduce your personal expenses. Before starting up, try to live on 50% of your current salary. So if you earn 3K, learn to live with 1.5K.
2. Build a 6 months personal emergency fund and a 6 months business emergency fund (6 month's salary + 6 month's overheads for your business)
3. Do a business plan. That will give you direction when you seem to be scrambling.
4. Marketing plan is essential
5. If you have never sold a product before in your life, I suggest getting some experience first (eg. be a part time telemarketer or MLM selling). Overcoming rejection is an important skill.

Before I started my business, I had problems accepting rejection. So I joined a hotel telemarketing programme and sold memberships over the phone. It really helped in building a thick skin and teaches one how to get your client or customer to say "Yes" instead of "No"
TSedyek
post Jan 15 2010, 06:00 PM

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QUOTE(Beast-Slayer @ Jan 15 2010, 05:02 PM)
good thread.. looking forward for my 1st business this year. But a lot of studies i need to do.. was thinking venturing in cybercafe but it's not easy. Still thinking about options that i have, i dont have any specialize skills but i'm confident with my management skills. Good info shared by TS..
*
Cybercafe ROI is terrible. Don't do it. I've been working in a Cybercafe at my hometown since I was 15, and I know the In-Out of cyber cafe...and the truth is that it is lousy business. If you are just cari makan and enough eat, you can do it. But if you are looking for profitable business, cybercafe ain't one.

QUOTE(cynthusc @ Jan 15 2010, 05:30 PM)
I agree with the posters that say: start small.

My other tips:-
1. Substantially reduce your personal expenses.  Before starting up, try to live on 50% of your current salary.  So if you earn 3K, learn to live with 1.5K.
2. Build a 6 months personal emergency fund and a 6 months business emergency fund (6 month's salary + 6 month's overheads for your business)
3. Do a business plan. That will give you direction when you seem to be scrambling.
4. Marketing plan is essential
5. If you have never sold a product before in your life, I suggest getting some experience first (eg. be a part time telemarketer or MLM selling).  Overcoming rejection is an important skill. 
*
Well said. I've over come God know how many times of rejection before I really convince people to invest in my venture. thumbup.gif
nasonex
post Jan 15 2010, 06:05 PM

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my I ask. what is the different between if we open an enterprise company AND sdn. bhd company. notworthy.gif
TSedyek
post Jan 15 2010, 06:17 PM

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QUOTE(nasonex @ Jan 15 2010, 06:05 PM)
my I ask. what is the different between if we open an enterprise company AND sdn. bhd company.  notworthy.gif
*
Enterprise is just a company that you go and register yourself at the local council.
As for S/B company, you have to go to register at SSM.

A) Enterprise
Pro :
1) Easy to setup. In my town, I only buy a form with RM 1 at local council and register my business.
2) You can do the account by yourself but make sure your account tally at the end of the year for you to submit to LHDN.

Con :
1) If you owe peoples money and are unable to pay them, you will be declare bankrupt as you yourself will take the liabilities.


B) S/B company
Pro :
1) If you owe peoples money and are unable to pay them, your company will take the liabilities, as you have a sum of capital prepared before you setup.

Con :
1) You need a capital before you can setup s/b
2) You need a licensed auditor/accountant to audit your account for you yearly and submit to LHDN. Around RM 2k-RM 2.5k.
Beast-Slayer
post Jan 15 2010, 06:20 PM

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thanks 4 the advice, yeah been reading a lot about cybercafe and like u said, just cukup makan for small player.

Regarding enterprise.. can we register at SSM?
TSedyek
post Jan 15 2010, 06:26 PM

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QUOTE(Beast-Slayer @ Jan 15 2010, 06:20 PM)
thanks 4 the advice, yeah been reading a lot about cybercafe and like u said, just cukup makan for small player.

Regarding enterprise.. can we register at SSM?
*
Yes. There is a thread regarding this topic.

http://forum.lowyat.net/topic/590613


nasonex
post Jan 15 2010, 06:52 PM

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QUOTE(edyek @ Jan 15 2010, 07:17 PM)
Enterprise is just a company that you go and register yourself at the local council.
As for S/B company, you have to go to register at SSM.

A) Enterprise
Pro :
1) Easy to setup. In my town, I only buy a form with RM 1 at local council and register my business.
2) You can do the account by yourself but make sure your account tally at the end of the year for you to submit to LHDN.

Con :
1) If you owe peoples money and are unable to pay them, you will be declare bankrupt as you yourself will take the liabilities.
B) S/B company
Pro :
1) If you owe peoples money and are unable to pay them, your company will take the liabilities, as you have a sum of capital prepared before you setup.

Con :
1) You need a capital before you can setup s/b
2) You need a licensed auditor/accountant to audit your account for you yearly and submit to LHDN. Around RM 2k-RM 2.5k.
*
i c...so for sdn bhd we need an accountant rite? means we hire a professional to monitor our company account???

one more thing, i dnt really good at accounting. just where cud i learn simple or basic accounting? mind telling me where u learn OR how u learn the concept of accounting? thnx nod.gif

This post has been edited by nasonex: Jan 15 2010, 07:08 PM
Vagrant
post Jan 16 2010, 11:48 AM

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QUOTE(am_eniey @ Dec 31 2009, 12:10 AM)
@Jamzz & @IGax2000

Yes we have to search for local worker first but we all know that locals are the real scumbags (not all but most of them) and I'm not siding on the foreigners neither. You see the situation here, a cheap foreign labour accepts a RM600 salary per month compared to a RM1000 per month for local for doing the same work. Yes all business owners are able to give that amount but you people have to take note that most businesses hire foreign worker to cut their costs. As their costs can be cut through that, they can reduce the price of their goods and services. Compared to the business owners who hire 100% locals with RM1000 payout monthly, surely they can't survive it if their price of goods and services are similar with those who hire foreign labourers. If they increase the price just to cover the salaries of the locals, nobody would come and buy goods and services at their shops/outlets. We as business owners must also imagine ourselves as a consumer, in general, we will go shop at outlets where the price is the cheapest disregarding who works either local or foreigner. We as consumers really don't care. It's the price that matters. I wish my employees are all locals but for now, it would kill me as my rivals around me only hires Indonesian/Bangla workers to run their businesses. I got no choice. They problems with locals, you know, they are smart, they know how to lie, they like to skip coming to work with millions of excuses, they want long long holiday ( dad is getting married again, mother's friend is sick, friends's birthday party, fever, cold, cough, H1N1, AIDS, HIV and so on but all are bullcrap ). I wish the government allow the business owners to increase their price just to give job opportunities to locals and prevent foreigners from getting in. But again if this rule is enforced, many bosses will take advantage to increase the prices but maintains their illegal foreign workforce instead of replacing them with locals. This problem until now I can't figure out how to solve it.
*
A classic problem. I don't post a solution to this, just to share my 2 cents.

IMHO, people have an aim to progress in life, or at the minimum, to survive. We see those foreigners emerging here, because they are either looking to progress further, or to earn a living. The same as malaysians going to singapore, and singaporeans going to the states.

This happens because of the difference between economy. A powerhouse (US) is powerful because there are weaklings to compare with. Salary is but one of the manifestation between economic strength of different entity. There are exceptions in one way or another (lower class foreigners getting higher pay than locals) but the general picture will always be this way. The gap between the economy creates the gap between the wages.

We could hire more locals if
1. there are no competition from higher class economy to attract local labors
2. there are no competition from lower class economy to inject lower wage workforce.

To logically solve this, all economy must remain stagnant and at best, equal, but that would contradict to human nature to progress.

For every rich man being made, there's another poor man being created.

This post has been edited by Vagrant: Jan 16 2010, 11:52 AM
z21j
post Jan 16 2010, 11:43 PM

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Hi all..

I have a few questions here

To start up an enterprise, do we have a location for running a business (ie shop....).
What about those open pasar malam? How they deal with this legal issue?
TSedyek
post Jan 17 2010, 10:45 AM

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QUOTE(nasonex @ Jan 15 2010, 06:52 PM)
i c...so for sdn bhd we need an accountant rite? means we hire a professional to monitor our company account???

one more thing, i dnt really good at accounting. just where cud i learn simple or basic accounting? mind telling me where u learn OR how u learn the concept of accounting? thnx  nod.gif
*
I hire someone to do it for me. Save all the fussy and hussy things. I just need to make sure my account tally at the end of the year.


Added on January 17, 2010, 10:47 am
QUOTE(z21j @ Jan 16 2010, 11:43 PM)
Hi all..

I have a few questions here

To start up an enterprise, do we have a location for running a business (ie shop....).
What about those open pasar malam? How they deal with this legal issue?
*
Yes. Technically speaking you need a shop address. But most people use virtual address. blink.gif e.g. If your friend has a shop, you can borrow his address to register.

Those at pasar malam do need trading license to trade. As long as you are involve in trading, you need license.

This post has been edited by edyek: Jan 17 2010, 10:47 AM
nasonex
post Jan 17 2010, 12:54 PM

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[quote=edyek,Jan 17 2010, 11:45 AM]
I hire someone to do it for me. Save all the fussy and hussy things. I just need to make sure my account tally at the end of the year.


Added on January 17, 2010, 10:47 am

i c... thnx bro for the knowledge... notworthy.gif
junkeat
post Jan 22 2010, 03:41 AM

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For accountant and secretary, i heard u go any accounting firm also can get the service price is only few hundred.

@ z21j
You dont need a shop address, u can put your home address. They need the address because they wan to know where can find u. If you open branches then u need to add into SSM cert where under "cawangan"
Grimm
post Jan 22 2010, 09:17 AM

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QUOTE(edyek @ Jan 3 2010, 12:21 PM)
Using CC is one of the most dumbest tactic, and you are one lucky dude.  notworthy.gif
*
Not necessarily true. There's this one Malaysian/Singaporean chinese who has a Masters in some IT/Engineering/Audio/Video related field in my university in Australia. He came up with this one invention that was really innovative. Some mini speakers with woofers. And when combined, as in you stack a few of those mini speakers together, the sound become even more BOOMZ.

He juggled 6-7 credit cards and only had 4 workers in the first year. Second year, his business BOOMZ and his nett profit for that year was AUD$2 million. He patented his product now and has 7-8 workers with him. I think his product is now marketed worldwide? This ******* is only 23-24 now cool.gif

So boomz.
TSedyek
post Jan 22 2010, 12:43 PM

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QUOTE(Grimm @ Jan 22 2010, 09:17 AM)
Not necessarily true. There's this one Malaysian/Singaporean chinese who has a Masters in some IT/Engineering/Audio/Video related field in my university in Australia. He came up with this one invention that was really innovative. Some mini speakers with woofers. And when combined, as in you stack a few of those mini speakers together, the sound become even more BOOMZ.

He juggled 6-7 credit cards and only had 4 workers in the first year. Second year, his business BOOMZ and his nett profit for that year was AUD$2 million. He patented his product now and has 7-8 workers with him. I think his product is now marketed worldwide? This ******* is only 23-24 now  cool.gif

So boomz.
*
You have to be confidence with your products. If the products is not the market wants, and end up owning massive bank debt.
I've friend who also use CC to balance his cash flow every month and end up owing bank a lot of money. Lucky him as he comes from rich family.

Still, personally I think it is the last last last resort to use if you can't have a good cash flow. If should be avoid at all cost unless there is no way to turn.
pokeat
post Jan 24 2010, 12:37 AM

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Good day everyone,
I always thinking to start a small biz, a real small one. The only supplier I can think is my friend's dad. He's supplier for those kedai runcits, carbo can drinks, sweets, biscuits and etc.
Assume I have very less capital

caihong
post Jan 24 2010, 01:00 AM

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I'd like to know whether enterprise is regards as partnership and sole proprietorship.

In near future I would like to plan for a cart-business (small stall in supermarket)... I need to know whether such a business need licensing. At first I thought it is a must, but sooner when I made a call to the management and asked whether I should provide the licensing document, and the feedback was not necessary. I was surprised by what the people told me. I am here to get releted information about this issue. If licensing is a must, then should I apply for sole proprietorship or sdn bhd?
kokofai
post Jan 24 2010, 01:54 AM

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CaiHong:

In setting up a business, there are 3 types of model you can choose from:
1. Sole-Proprietorship
2. Partnership
3. Enterprise

Just for your understanding, sdn bhd can be both 1. and 2. and your liability is unlimited.

Whereas no.3 that would seperate you, the owner, from your business. In other words, u have to be responsible for the debts if your business does not go well. While 3 you need not as they regard the company as a "seperated person"
For more info pls refer to here:
http://allmalaysia.info/msiacommerce/resou...asp?s=resources
There are many factors u need to consider for eg. the size of ur business, the investment you have, etc...

As for my advise, I think you don't have the basic knowledge of doing a business, that would be better if you can get a partner who is more experience to assist you. Therefore a partnership is what I recommend you.

Have a nice day.
MikeLim
post Jan 24 2010, 05:09 AM

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Greetings.. i feel so lucky that i am able to come across this thread. i seriously need some advice..

Business had in mind.
1) photocopy shop ( near college location)
2) prepaid top-ups & idd machine (investment)

Question:
1. What is the minimum start up capital for a photocopy shop and any guidelines to operate it?
2. prepaid top-ups & idd to be sold to coll/uni students and also foreigners ( in my point of view good market )

* Note: currently still a college student with 0 capital at all.
Awakened_Angel
post Jan 24 2010, 10:20 AM

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QUOTE(MikeLim @ Jan 24 2010, 06:09 AM)
Greetings.. i feel so lucky that i am able to come across this thread. i seriously need some advice..

Business had in mind.
1) photocopy shop ( near college location)
2) prepaid top-ups & idd machine (investment)

Question:
1. What is the minimum start up capital for a photocopy shop and any guidelines to operate it?
2. prepaid top-ups & idd to be sold to coll/uni students and also foreigners ( in my point of view good market )

* Note: currently still a college student with 0 capital at all.
*
finish your study first.. forget about the photocopy business and you might proceed with prepaid top up card business (low capital and no need to keep lot of stock)
MikeLim
post Jan 24 2010, 01:47 PM

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QUOTE(Awakened_Angel @ Jan 24 2010, 10:20 AM)
finish your study first.. forget about the photocopy business and you might proceed with prepaid top up card business (low capital and no need to keep lot of stock)
*
well i've did a lil survey and i found that photocopy biz can realli generate a huge income. well im not quite sure why ur against this is it becoz its illegal and high risk..but on the other hand not to forget it can generate lotsa income.
TSedyek
post Jan 24 2010, 03:16 PM

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QUOTE(pokeat @ Jan 24 2010, 12:37 AM)
Good day everyone,
I always thinking to start a small biz, a real small one. The only supplier I can think is my friend's dad. He's supplier for those kedai runcits, carbo can drinks, sweets, biscuits and etc.
Assume I have very less capital
*
Yes. Small business is suitable for those business starters. But you have to think down the road, will your small business become big business in the future? If your business has the potential to become a big one, I suggest you go for it.

If foresee your small business will not grow into a big one, you can still go ahead with it, and sell it after your business reach to a max potential or you can just look around for other opportunity. thumbup.gif


QUOTE(MikeLim @ Jan 24 2010, 05:09 AM)
Greetings.. i feel so lucky that i am able to come across this thread. i seriously need some advice..

Business had in mind.
1) photocopy shop ( near college location)
2) prepaid top-ups & idd machine (investment)

Question:
1. What is the minimum start up capital for a photocopy shop and any guidelines to operate it?
2. prepaid top-ups & idd to be sold to coll/uni students and also foreigners ( in my point of view good market )

* Note: currently still a college student with 0 capital at all.
*
QUOTE(Awakened_Angel @ Jan 24 2010, 10:20 AM)
finish your study first.. forget about the photocopy business and you might proceed with prepaid top up card business (low capital and no need to keep lot of stock)
*
QUOTE(MikeLim @ Jan 24 2010, 01:47 PM)
well i've did a lil survey and i found that photocopy biz can realli generate a huge income. well im not quite sure why ur against this is it becoz its illegal and high risk..but on the other hand not to forget it can generate lotsa income.
*
Mike, @Awakened_Angel is right. You should finish your study first before you want to venture into business. I'm not against your ideas, but you do not any capital to start the photocopy biz. How do you intend to start it since you don't have any penny? Unless you have the support from your family members or others investor who is willing to invest that money in you to open one.
icon_rolleyes.gif
SeeD
post Jan 24 2010, 07:46 PM

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Interesting thread. I have read through everything and have learnt a bit from all the sifus here.

I am still a university student like a few of you blokes here and have no capital for any business (still investing in books now laugh.gif).

However I do have plans for business in the future and I am thinking of placing my first "brick" very soon so that a "house" can be built from it.

Having said that, I am curious to ask many of you here. At what age did you venture into your first business =D
kokofai
post Jan 25 2010, 01:31 AM

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SeeD,

Do participate in your Uni's business plan competition or if there is none, join the external one. It's a great opportunity for you to prove to people whether your plan works or not.

I myself did participated in few business plan competitions before, EG. CIMB Challenge, BAT Bring Your DIfference etc.
It's a good way to gain recognition too if your plan works. Investors will approach you or even venture capitalists. wink.gif
SUSahshuy
post Jan 25 2010, 01:39 AM

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I presume some of the sifus here ventured their 1st business after they graduated from uni or left from school.

Its thrilling and exciting to hear that how they succeed in business fields smile.gif , but frankly , do not venture into any business if u r still unknown about the environment factor and lack of capital.

As for me, I got family business to deal and not planning to open a new business until i gain much exp from my parents 1st, then only decide whether wanna diversify my family business or start up a new business. icon_rolleyes.gif
pokeat
post Jan 25 2010, 09:00 AM

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I'm a college kid too, but deferring one biggrin.gif

Other than kedai runcit, I guess I can get wine and watches/camera one but with sky high cost to purchase. My question is; how to start small using Internet to sell grocery stuff ? <- Working ?

This post has been edited by pokeat: Jan 25 2010, 09:02 AM
Awakened_Angel
post Jan 25 2010, 09:26 AM

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QUOTE(MikeLim @ Jan 24 2010, 02:47 PM)
well i've did a lil survey and i found that photocopy biz can realli generate a huge income. well im not quite sure why ur against this is it becoz its illegal and high risk..but on the other hand not to forget it can generate lotsa income.
*
yes... I`ve seen photaostate company bancrupt when publisher came with police raided their shop....

this is what I did... lecturer gave me notes to photocopy and I gave to shop and take it back to class... in between the shop gave me commission....

average, each month I earned RM 500.00

my cost? my time and my motorcycle petrol....... no need to buy 10k machine and rent a shop and spend hours flipping the paper and press


Added on January 25, 2010, 9:27 am
QUOTE(pokeat @ Jan 25 2010, 10:00 AM)
I'm a college kid too, but deferring one biggrin.gif

Other than kedai runcit, I guess I can get wine and watches/camera one but with sky high cost to purchase. My question is; how to start small using Internet to sell grocery stuff ? <- Working ?
*
depends.... if you are selling apples, definately not feasible.... groceries have short life span......

This post has been edited by Awakened_Angel: Jan 25 2010, 09:27 AM
SeeD
post Jan 25 2010, 09:35 AM

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QUOTE(kokofai @ Jan 25 2010, 01:31 AM)
SeeD,

Do participate in your Uni's business plan competition or if there is none, join the external one. It's a great opportunity for you to prove to people whether your plan works or not.

I myself did participated in few business plan competitions before, EG. CIMB Challenge, BAT Bring Your DIfference etc.
It's a good way to gain recognition too if your plan works. Investors will approach you or even venture capitalists. wink.gif
*
Apparently I am from Engineering school and thus I haven't heard of many of these business related competitions before. Will ask my biz friends to see if they got any ...

Putting that aside, isn't that like very dangerous? Your business plan can be copied by anyone if you take it to a competition.


Awakened_Angel
post Jan 25 2010, 09:39 AM

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QUOTE(SeeD @ Jan 25 2010, 10:35 AM)
Apparently I am from Engineering school and thus I haven't heard of many of these business related competitions before. Will ask my biz friends to see if they got any ...

Putting that aside, isn't that like very dangerous? Your business plan can be copied by anyone if you take it to a competition.
*
frankly, competition is a cheap ways to buy marketing plan compared to professional advices...... if you read the terms, your ideas belongs to them wink.gif
ming19852
post Jan 25 2010, 10:03 AM

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i am really amaze to c there r few collage kids in this threats, you guys are the few special 1, i assume that many of your friends are still not even thinking what they gonna do after graduate.

I think it will be easier to earn money in service industries nowadays, you dont need to have a lot of capital, some occasions you dont even need a shop/office. All you have to do is just work hard!
Awakened_Angel
post Jan 25 2010, 10:05 AM

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QUOTE(ming19852 @ Jan 25 2010, 11:03 AM)

I think it will be easier to earn money in service industries nowadays, you dont need to have a lot of capital, some occasions you dont even need a shop/office. All you have to do is just work hard!
*
true... this is the future of business...... tertiary industry
SeeD
post Jan 25 2010, 01:42 PM

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QUOTE(Awakened_Angel @ Jan 25 2010, 09:39 AM)
frankly, competition is a cheap ways to buy marketing plan compared to professional advices...... if you read the terms, your ideas belongs to them  wink.gif
*
Yes exactly the thing I am worried about. I have read these sort of terms before in Engineering competitions before.

Sounds like a lazy way out laugh.gif

QUOTE(ming19852 @ Jan 25 2010, 10:03 AM)
i am really amaze to c there r few collage kids in this threats, you guys are the few special 1, i assume that many of your friends are still not even thinking what they gonna do after graduate.

I think it will be easier to earn money in service industries nowadays, you dont need to have a lot of capital, some occasions you dont even need a shop/office. All you have to do is just work hard!
*
Well, I have asked many of my peers regarding their plan after they graduate. Many replied "don't know" or "wait til the time comes".
Very few talked about their plan (or they do not wish to talk about it), even if they do, they talk about working for a company ...

But I believe there are a few who have plans but decided to keep quiet about it.
Awakened_Angel
post Jan 25 2010, 02:34 PM

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QUOTE(SeeD @ Jan 25 2010, 02:42 PM)

Sounds like a lazy way out laugh.gif
Well, I have asked many of my peers regarding their plan after they graduate. Many replied "don't know" or "wait til the time comes".
Very few talked about their plan (or they do not wish to talk about it), even if they do, they talk about working for a company ...

But I believe there are a few who have plans but decided to keep quiet about it.
*
that would be many.. not few... when interview, your manager ask you, what is your plan in 5 years... you want to answer I want to be your manager in 5 years time? doh.gif
TSedyek
post Jan 25 2010, 05:15 PM

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QUOTE(SeeD @ Jan 24 2010, 07:46 PM)
Interesting thread. I have read through everything and have learnt a bit from all the sifus here.

I am still a university student like a few of you blokes here and have no capital for any business (still investing in books now laugh.gif).

However I do have plans for business in the future and I am thinking of placing my first "brick" very soon so that a "house" can be built from it.

Having said that, I am curious to ask many of you here. At what age did you venture into your first business =D
*
I first started out to sell mIRC PSY bot when I'm primary six whereby it was mIRC golden age. My friend setup and I market it. Whole town buy from me. Good business for kids like me. Everyday I can spend on good ice cream. brows.gif

QUOTE(ahshuy @ Jan 25 2010, 01:39 AM)
I presume some of the sifus here ventured their 1st business after they graduated from uni or left from school.

Its thrilling and exciting to hear that how they succeed in business fields  smile.gif , but frankly , do not venture into any business if u r still unknown about the environment factor and lack of capital.

As for me, I got family business to deal and not planning to open a new business until i gain much exp from my parents 1st, then only decide whether wanna diversify my family business or start up a new business.  icon_rolleyes.gif
*
Good one. Take some experience 1st before you venture. It will save you a lot of money and time when you really venture your own business one day. thumbup.gif

QUOTE(Awakened_Angel @ Jan 25 2010, 02:34 PM)
that would be many.. not few... when interview, your manager ask you, what is your plan in 5 years... you want to answer I want to be your manager in 5 years time?  doh.gif
*
Good answer. I will fire the interviewee. shakehead.gif
am_eniey
post Jan 25 2010, 08:16 PM

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Friends, if you are still studying, just keep on studying until you get the degree. A degree for me is just like a license and does not mean you have to work forever with your degree. I was a graduate in Geology and I have worked in the oil and gas sector for many years as a geologist and other positions but I end up doing a laundry business. How far deviated from my previous occupation where people are flocking to work as an offshore personnel as their dream job. I find that doing business is much more fun than working but bare in mind, the challenges are still there and keep on coming.

This post has been edited by am_eniey: Jan 25 2010, 08:17 PM
sherynaco
post Jan 25 2010, 08:28 PM

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QUOTE(alanaw @ Dec 19 2009, 10:31 PM)
I agree with TS. This is wat i would do if i were in his shoe as well. Most important is make profit and from there invest in property or focus only on 1 high profit margin business. It will be hard if we were to take care of so many business at a time. In the end, the room for growth for business will be limited.
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Good point!
MikeLim
post Jan 27 2010, 01:42 AM

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thanks so much for all the guidelines...well the reason why i am aiming to run my own biz now is due to financial prob. well i believe even with no capital we can also start a biz but the major problem is with 0 experience i am quite uncertain if i can manage it well..as everyone knows that a good biz will only be determine after the 5th year..

btw am_eniey i am quite keen to know how u run ur laundry biz.

thanks
Jordy
post Jan 27 2010, 07:49 AM

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QUOTE(MikeLim @ Jan 27 2010, 01:42 AM)
thanks so much for all the guidelines...well the reason why i am aiming to run my own biz now is due to financial prob. well i believe even with no capital we can also start a biz but the major problem is with 0 experience i am quite uncertain if i can manage it well..as everyone knows that a good biz will only be determine after the 5th year..

btw am_eniey i am quite keen to know how u run ur laundry biz.

thanks
*
MikeLim,

The bold part is a reason for you NOT to start a business. You must be joking to say you want to start a business because of financial problem. A person with financial problem (i.e. negative cashflow) should stay away from business. As you said, you have 0 experience, so you NEED to have the cash to BUY your experience.
yokatasan
post Jan 27 2010, 11:51 AM

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i wan to ask what if
i got plenty of business idea, but how to know it's work o not?
sissonne
post Jan 27 2010, 12:20 PM

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QUOTE(MikeLim @ Jan 27 2010, 01:42 AM)
thanks so much for all the guidelines...well the reason why i am aiming to run my own biz now is due to financial prob. well i believe even with no capital we can also start a biz but the major problem is with 0 experience i am quite uncertain if i can manage it well..as everyone knows that a good biz will only be determine after the 5th year..

btw am_eniey i am quite keen to know how u run ur laundry biz.

thanks
*
running a biz is not simple, u might end up into more financial problem...i think its best to get a proper base skill-sets trained in yourself and meantime, save up on some capital...i personally have not drawn salary for the past 2 yrs and its tough trying to maintain it...the amount of stress u need to go through and at times, nobody support or understand u, all they do is discourage u...

QUOTE(yokatasan @ Jan 27 2010, 11:51 AM)
i wan to ask what if
i got plenty of business idea, but how to know it's work o not?
*
talk to ppl about it...and dont worry about ppl stealing ur idea...if u have thought about it, i'm sure there are loads more other ppl also thought about it before...its all about execution...

kochin
post Jan 27 2010, 03:37 PM

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QUOTE(sissonne @ Jan 27 2010, 12:20 PM)
running a biz is not simple, u might end up into more financial problem...i think its best to get a proper base skill-sets trained in yourself and meantime, save up on some capital...i personally have not drawn salary for the past 2 yrs and its tough trying to maintain it...the amount of stress u need to go through and at times, nobody support or understand u, all they do is discourage u...
talk to ppl about it...and dont worry about ppl stealing ur idea...if u have thought about it, i'm sure there are loads more other ppl also thought about it before...its all about execution...
*
would like share something to this thread. am a regular joe dreaming of hitting it big but dunno where to start. so when some friends approach me for some IT business venture, i started by being their agent (no capital involve) and was doing pretty well. then we wanted to expand and offer me to join as partner. i accepted but alas, the trend died down. my investment practically become zero.
for every success story, i'm sure there's easily 10 failure story. we know the amazing success story because everybody loves to hear it. but who have heard of the ah beng who lost thousands in investment and the ah lians who lost millions trying their business venture. not trying to spirit down the dreamers but let's face the fact that there's risk aplenty out there. survivor of the fittest.
having said that, i'm still stuck with a bunch of computer goods. willing to let go and crazily cheap prices. please visit www.boynq.com
cheers!
keep on dreaming and may your dream comes true!

speaking of ideas, there's aplenty in my head. some of it i could swear it's damn good but implementation is a big problem. it involves pitching the idea to big automotive corporates. i got no clue how to do that. and since the idea have a chance of success, i don't dare sharing with anybody else. even if pitching to the big guns, i swear i need legal protection so that they don't infringe my copyright. but sigh! an idea is only an idea. if the idea never sees the lights of day, no matter how good the idea is, it's only a thought, nothing more. sigh! dilemma.

This post has been edited by kochin: Jan 27 2010, 03:40 PM
TSedyek
post Jan 27 2010, 07:17 PM

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QUOTE(MikeLim @ Jan 27 2010, 01:42 AM)
thanks so much for all the guidelines...well the reason why i am aiming to run my own biz now is due to financial prob. well i believe even with no capital we can also start a biz but the major problem is with 0 experience i am quite uncertain if i can manage it well..as everyone knows that a good biz will only be determine after the 5th year..
*
I start my latest venture with 0 capital, but with 110% experience. You need experience in whatever you are doing. thumbup.gif
Experience is money.
Money is not experience.

QUOTE(yokatasan @ Jan 27 2010, 11:51 AM)
i wan to ask what if
i got plenty of business idea, but how to know it's work o not?
*
Share it here if you want to know whether it is viable or not. If that is what you want to do.

QUOTE(kochin @ Jan 27 2010, 03:37 PM)
speaking of ideas, there's aplenty in my head. some of it i could swear it's damn good but implementation is a big problem. it involves pitching the idea to big automotive corporates. i got no clue how to do that. and since the idea have a chance of success, i don't dare sharing with anybody else. even if pitching to the big guns, i swear i need legal protection so that they don't infringe my copyright. but sigh! an idea is only an idea. if the idea never sees the lights of day, no matter how good the idea is, it's only a thought, nothing more. sigh! dilemma.
*
If you do not have the necessary experience/capital to start the venture, I suggest you share with somebody who you trust and believe can realize your dream. Even your idea is damn good, and without implementation from the right people/time it is WORTHLESS.

It is dangerous to trust someone, but trusting nobody is more dangerous.

There is always a risk there. That why it is call business. sweat.gif
Jordy
post Jan 27 2010, 09:57 PM

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QUOTE(yokatasan @ Jan 27 2010, 11:51 AM)
i wan to ask what if
i got plenty of business idea, but how to know it's work o not?
*
yokatasan,

Ideas and execution are 2 different aspects in business. Your ideas may be very feasible, but your management may not. Your business will still fail in that case. I have met many who have very modest ideas, but their execution and management are good. They still made it in the end.

So, whether or not your business would work depends on you. If you are doubting, then your idea is not fit to be executed.
anakjohor
post Jan 27 2010, 10:04 PM

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Hi Everyone,

I am new here and I am glad to have join this forum as its quite difficult for me to find people with the same interest as me, which is in small business...

and I learned a lot here about small businesses...

Well, like most of us here, I am in sales line attached with MNC.. I always wanted to get into business since my college days..and I am very much determined because I actually set aside rm500 everymonth into my business set-up purpose and its been a whole year now...not much to begin with but remember what R.Kiyosaki once said, PAY yourself first before others...

I am 28 this year and I dont come from well to do family, as the eldest, I have a lot of commitments on my shoulder...so rm500 is the best I can do for myself atleast...

Actually I would like to seek advice from you all here, I am doing a very small perfume selling business online(only originals and tester) since middle of last year, business has been very slow as only friends are buying to support me...

How can I reach to bigger crowd which my target would be college students and mainly young working adults...?

this is my partner's blog... http://jperfume.blogspot.com/

pls feel free to comment and all replies are very much appreciated..thanks


SeeD
post Jan 27 2010, 11:43 PM

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QUOTE(anakjohor @ Jan 27 2010, 10:04 PM)
Hi Everyone,

I am new here and I am glad to have join this forum as its quite difficult for me to find people with the same interest as me, which is in small business...

and I learned a lot here about small businesses...

Well, like most of us here, I am in sales line attached with MNC.. I always wanted to get into business since my college days..and I am very much determined because I actually set aside rm500 everymonth into my business set-up purpose and its been a whole year now...not much to begin with but remember what R.Kiyosaki once said, PAY yourself first before others...

I am 28 this year and I dont come from well to do family, as the eldest, I have a lot of commitments on my shoulder...so rm500 is the best I can do for myself atleast...

Actually I would like to seek advice from you all here, I am doing a very small perfume selling business online(only originals and tester) since middle of last year, business has been very slow as only friends are buying to support me...

How can I reach to bigger crowd which my target would be college students and mainly young working adults...?

this is my partner's blog... http://jperfume.blogspot.com/

pls feel free to comment and all replies are very much appreciated..thanks
*
Hello, I think I have an idea for you.

Looking at your current situation, I am guessing that you are always updating your blog with new perfumes and expecting people to buy from you. Then of course you would sell to your group of friends as well.

I am pretty sure that you are now currently earning more by selling to your friend. And you have the idea that your blog should be generating more sales than yourself.

I paid a visit to your website. Sorry to say this but I quit straight away, why?

1. I have no intention of buying perfumes now.
2. I don't like entering websites that only tells me what perfumes to buy their prices.
3. I don't like the design.

Sounds cruel but that is the truth.

Now I will tell you what is wrong with your website.

First, it has a blogspot.com at the back, which basically translates (to strangers like myself) you do not have a company and is not trustworthy.
Secondly, the traffic to your website is very little. With so little visitors, it is not surprising that business is not good.
Thirdly, website simplicity and neatness is extremely important for sales, and your blog does not have either of those.

Now how you can improve your sales? You should generate traffic to your website.

How do you do that? Write articles. It is a matter of give and take here. I believe no business can be set up if you do not give first.

Right now if you take a look at your website, what you're actually displaying to your visitors is "Look, tell me what you want and I will sell it to you". Would you buy if anybody tell you that exact same sentence? I wouldn't.

So what you are supposed to do now, is tell your customers why they should pick your perfumes, tell them how good that perfume is, tell them what would happen if they use that perfume, tell them your experience when using that perfume.

Bah I think I should just throw you all the ideas I have and have you figure out what to do
1. Write articles so that your articles generate sales
2. Register a real domain name and a real website (not bloggers)
3. Market your brand, don't just sell without branding.

Just my 2 cents.

anakjohor
post Jan 27 2010, 11:57 PM

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Hi SeeD,

first of all, thank you for your feedback...from your feedback, I do find there are a lot more that I can do; first is to have some write up articles in regards to the perfumes I am selling so they can relate it with themselves better...yeah I did miss out this point..

In referring to the dotcom domain instead of blogspot, should I go for .com or .com.my?

Finally, if we have done all these...how am I going to improve the traffic to my intended crowd? thru google ads or website ad?

SeeD
post Jan 28 2010, 12:16 AM

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@AnakJohor
.com.my of course if you're targeting Malaysian customer, I think you should get .com.my. However, I would suggest you to get both .com.my and .com, 20 USD per year is not expensive at all in case you want to expand worldwide.

There are actually a lot of ways to improve traffic.

What I usually do for my website (not a sales website) is that I publish articles, then share them in Facebook, Twitter Diggs. That's the lazy way laugh.gif, there are a lot of ways out there you can use, like creating a facebook group or something.

Also make sure Google is pinged (notified) so that your articles appear in Google Search Engine.

You should read up targeting keywords so that you know what keywords to include in your website. It's the Search Engine Optimization (SEO) thing which I am not that good at.

As for advertising, I am not the right person to talk to. laugh.gif

By the way, I am just a university student with some knowledge about the internet. You should not take my advice too seriously. Mainly because these things take a lot of time to prepare and takes more time to generate sales. I myself think that this is the hardest way to generate sales leads. Maybe some pros here can advice you better.

I am just telling you all these because you're selling perfumes online smile.gif

This post has been edited by SeeD: Jan 28 2010, 12:21 AM
sissonne
post Jan 28 2010, 01:45 PM

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QUOTE(anakjohor @ Jan 27 2010, 10:04 PM)
Hi Everyone,

I am new here and I am glad to have join this forum as its quite difficult for me to find people with the same interest as me, which is in small business...

and I learned a lot here about small businesses...

Well, like most of us here, I am in sales line attached with MNC.. I always wanted to get into business since my college days..and I am very much determined because I actually set aside rm500 everymonth into my business set-up purpose and its been a whole year now...not much to begin with but remember what R.Kiyosaki once said, PAY yourself first before others...

I am 28 this year and I dont come from well to do family, as the eldest, I have a lot of commitments on my shoulder...so rm500 is the best I can do for myself atleast...

Actually I would like to seek advice from you all here, I am doing a very small perfume selling business online(only originals and tester) since middle of last year, business has been very slow as only friends are buying to support me...

How can I reach to bigger crowd which my target would be college students and mainly young working adults...?

this is my partner's blog... http://jperfume.blogspot.com/

pls feel free to comment and all replies are very much appreciated..thanks
*
u probably need to change the interface...and u might want to try B2B rather than B2C...try wholesale and set up channels...
MikeLim
post Jan 28 2010, 05:43 PM

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thanks so much for the advice again. i guess i seriously need to put myself together and focus into something smaller 1st.
pokeat
post Jan 28 2010, 10:22 PM

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QUOTE(kochin @ Jan 27 2010, 03:37 PM)
for every success story, i'm sure there's easily 10 failure story. we know the amazing success story because everybody loves to hear it. but who have heard of the ah beng who lost thousands in investment and the ah lians who lost millions trying their business venture. not trying to spirit down the dreamers but let's face the fact that there's risk aplenty out there. survivor of the fittest.
having said that, i'm still stuck with a bunch of computer goods. willing to let go and crazily cheap prices. please visit www.boynq.com
cheers!
keep on dreaming and may your dream comes true!

*
Words of the day. We need some failed examples too icon_rolleyes.gif


Added on January 28, 2010, 10:25 pmNow I only realized to make a plan works out of paper is ....................................
sweat.gif

This post has been edited by pokeat: Jan 28 2010, 10:25 PM
kochin
post Jan 28 2010, 11:16 PM

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QUOTE(pokeat @ Jan 28 2010, 10:22 PM)
Words of the day. We need some failed examples too  icon_rolleyes.gif


Added on January 28, 2010, 10:25 pmNow I only realized to make a plan works out of paper is ....................................
sweat.gif
*
you said it. and i experience it. i was a good example of failing in my 1st biz venture. pretty much like our thread starter. IT products. mad.gif
having said so, i got tonnes of boynq stuff to dispose. they are actually pretty decent stuff. pricey too. but built quality is kinda good. compatible with ipods too. seriously, am having a huge sale. rather it's clearing off all my stocks including selling at a loss. no joke! vmad.gif
but what to do? if i buy at rm100 per piece, would i rather keep it or dispose it? whatever ringgit i get back it's less ringgit lost! doh.gif
SUSseller009
post Jan 28 2010, 11:21 PM

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----

This post has been edited by marsalee: Nov 13 2010, 09:30 PM
am_eniey
post Jan 29 2010, 09:25 AM

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advice from me, if you people wants to start a business that requires a 100k capital, you should have 200k in hand just to be safe.
yokatasan
post Jan 29 2010, 10:42 AM

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QUOTE(Jordy @ Jan 27 2010, 09:57 PM)
yokatasan,

Ideas and execution are 2 different aspects in business. Your ideas may be very feasible, but your management may not. Your business will still fail in that case. I have met many who have very modest ideas, but their execution and management are good. They still made it in the end.

So, whether or not your business would work depends on you. If you are doubting, then your idea is not fit to be executed.
*
ya, you're right! Sometime i think my idea is goin to work, alot reasons support my idea.
However, when come to execution, this is the most difficult part.


iluvinternet
post Jan 30 2010, 02:53 AM

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running business is not risky.
being uneducated is risky.

gather your knowledges and prepare yourself for the unforeseen obstacles.
Minimayo
post Jan 30 2010, 11:33 AM

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Greeting to lyn members who use to lurk in business section.

I'm a uni student in melaka, planned to start up my business selling some pc stuff with high profits like usb connecter , card reader .... and also providing some services like psp games, video and audio converter... My main product will be the CISS for the printer. I've been involving my many business before and also in different field, i will try my best to answer questions for those related what i have involved.

Regards smile.gif


Added on January 30, 2010, 12:04 pm
QUOTE(Beast-Slayer @ Jan 15 2010, 05:02 PM)
good thread.. looking forward for my 1st business this year. But a lot of studies i need to do.. was thinking venturing in cybercafe but it's not easy. Still thinking about options that i have, i dont have any specialize skills but i'm confident with my management skills. Good info shared by TS..
*
I've been working in a cc for more than 2 yrs for my part time job during my diploma, there's only 30 pcs and the price for member is Rm2/hour and Rm3/hour for non member. To apply for member card, it costs Rm30 for the registration and they will get the member card in 1-2 mths. Daily CS (close sales) will be around 1k, assume 1 month 30k . This exclude the sales for maggi cup and soft drinks, ice-cream, nuggets, french fries, milk shake, fruit juice, ,milo/nescafe, coctails etc and also sales for the online game cards, sometimes the sales can goes up to 10k per day if there's event for the particular online game like myrosso, maple, or mostly cubitzone games. brows.gif

Utilities.
Elec = 5k with 3 air conds + 2 ceiliing fans
Internet = 1k
SendiMutiara warcraft license = 1k
Another game lincese around =500-700 (for those game like GTA, bla bla bla)
Staff salary = 6k ( 4 full time staff and 2 part time staff)
Rental = 2k
Maintenance = 1-2k (have to fix those headphones)
Upgrade = 1-2k (changing their mouse to razer krait and monitor to lcd 22')

This is wht comes to my mind, for more details, you can always ask me ques.


Right now the there's a total of 50++ pc and the CS is higher than 1k. Quit this job after i done my diploma and proceed with my degree.

Note: That cc is at the uni area in very strategic area.



This post has been edited by Minimayo: Jan 30 2010, 12:10 PM
hamiru
post Jan 30 2010, 12:21 PM

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@Minimayo

what about the Windows OS license? do you purchase them in volume or just gather up the OEM version?
Minimayo
post Jan 30 2010, 12:32 PM

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QUOTE(hamiru @ Jan 30 2010, 12:21 PM)
@Minimayo

what about the Windows OS license? do you purchase them in volume or just gather up the OEM version?
*
Not my cc , they using win XP, the boss purchase it in bulk... cant really answer u in this, as nt really all of them were originals
mindkiller6610
post Jan 31 2010, 12:51 AM

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very nice informative thread.. smile.gif
anakjohor
post Feb 1 2010, 04:38 PM

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Guys,

in regards to my perfume website? any advice for me as i'm still a beginner ..

thanks


Added on February 1, 2010, 4:43 pm
QUOTE(edyek @ Dec 21 2009, 07:11 AM)
Hope this thread provides you a base line about what kind of small and medium cash flow business that are good for business starters. Good luck. smile.gif
*
Hi edyek,

are all your workers local?

in west malaysia quite difficult to get locals to take the job as it was to lowly paid...for foreigners like indon or bangla, we need to place deposit and lots of paperwork ,agent?

how much in average if we get in one foreigner?


This post has been edited by anakjohor: Feb 1 2010, 04:43 PM
TSedyek
post Feb 1 2010, 06:08 PM

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QUOTE

Hi edyek,

are all your workers local?

in west malaysia quite difficult to get locals to take the job as it was to lowly paid...for foreigners like indon or bangla, we need to place deposit and lots of paperwork ,agent?

how much in average if we get in one foreigner?
*
My supervisor is local and the rest of the workers below supervisor is foreigner. In Sabah, it is around RM 1,000++ to guarantee a foreign worker.

This post has been edited by edyek: Feb 1 2010, 06:09 PM
viviane90
post Feb 2 2010, 04:21 PM

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Looking for a good & profitable food court for chinese food stall, any good recommend?
mitchel
post Feb 21 2010, 12:17 PM

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Thank you for this wonderful forum, I learn alot from you all. And I just share mine here...

House Rental
House Price: approx 400k
Capital : Atleast 15% of house price.
Monthly Income : About 1.2k ~1.5k (at the moment). Rent will increase from time to time.

Saloon
Capital : 10k~20k (a take over business)
Location : Shoplot.
Monthly Income : Average 2-4k (Very depending to festival season)
Workers : 3, most are skillful workers.
Duration : 5 years. Owner take back.
Opinion : Need good skill, Need good service, reasonable price, very hard to find workers (Skillful) and willing to work hard. sweat.gif

Now I wanted to start a F&B business, like western food. I know what I want to sell & how to make them. But I just can't find a location that I want to sell. I been considering so much... Rental fees, is it nearby offices, school, college or residental, competitors around.

I've been considering so much, endup I can't get it started. Hope some sifu here can help me out. I'm staying in old klang road. Thanks rclxms.gif




lookig4room
post Feb 21 2010, 01:13 PM

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Great thread!

Like many others before me, I learned a lot from it.

Keep on the good discussion guys!
Awakened_Angel
post Feb 21 2010, 01:31 PM

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QUOTE(anakjohor @ Feb 1 2010, 05:38 PM)

how much in average if we get in one foreigner?
*
it falls average RM 100 per month.... for one workers

RM 850 for salary, Rm 100 for rental & other annual fees.....


Added on February 21, 2010, 1:32 pm
QUOTE(edyek @ Feb 1 2010, 07:08 PM)
My supervisor is local and the rest of the workers below supervisor is foreigner. In Sabah, it is around RM 1,000++ to guarantee a foreign worker.
*
I am looking for more foreign workers.... your from sabah? I`m from east coast... its hard to get foreign workers nowadays...

This post has been edited by Awakened_Angel: Feb 21 2010, 01:32 PM
TSedyek
post Feb 21 2010, 04:47 PM

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QUOTE(Awakened_Angel @ Feb 21 2010, 01:31 PM)
I am looking for more foreign workers.... your from sabah? I`m from east coast... its hard to get foreign workers nowadays...
*
Yes. Currently I'm located at Sabah. Yap, there are some policy in hiring foreign workers these days. Too much hassle.
Awakened_Angel
post Feb 21 2010, 05:16 PM

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QUOTE(edyek @ Feb 21 2010, 05:47 PM)
Yes. Currently I'm located at Sabah. Yap, there are some policy in hiring foreign workers these days. Too much hassle.
*
this is what I heard from agents....

only few sectors are opened... construction, plantation & manufacturing..... service are closed......
TSedyek
post Feb 21 2010, 06:26 PM

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QUOTE(Awakened_Angel @ Feb 21 2010, 05:16 PM)
this is what I heard from agents....

only few sectors are opened... construction, plantation & manufacturing..... service are closed......
*
1. Construction = Too much projects running on these days. Local workers are not enough. If we do not depends on foreign workers, I don't think there will be any rapid development going on in M'sia.

2. Plantation = Esp palm oil. These kind of hard works, any local workers want to do?

Not sure about service sector though. happy.gif
bcteh
post Feb 22 2010, 05:57 AM

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I interested in laundry business too... after 3 months I got my money, will contact a few business owner here for advice.
Awakened_Angel
post Feb 22 2010, 11:16 AM

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QUOTE(edyek @ Feb 21 2010, 07:26 PM)
1. Construction = Too much projects running on these days. Local workers are not enough. If we do not depends on foreign workers, I don't think there will be any rapid development going on in M'sia.

2. Plantation = Esp palm oil. These kind of hard works, any local workers want to do?

Not sure about service sector though. happy.gif
*
true.... will you work in KL for RM 700 for 6 days a week, 8-12 hours shift.. on lifting heavy things, collect shit or do wodn the drain to collect rubbish right under hot sun??

for me, my sector(as you know, hardware) which do quite similar job scope.. but its under service....

service?? eg... restaurant, salon etc...

frankly, I would hire foreign workr than locals........... why? for example....

1) 2 of my local female worker(age 20+) who would simply come to work and off as they like... I give them few warning yet the same.. then oen day morning , I cannot tahan and scold them... and they quit job on noon.. tell other staff that they quit...

2) No initiative.. even they`ve been working for a year, they still fail to follow their SOPP.... eg... when stock reach, they would pack and leave it there... without put them in rack... almost "EVERYDAY" I have to remind them.. put in rack after pack.. put in rack after pack.... doh.gif If I raise my tone, they would not come to work tomorrow.....

for my foreign worker its totally different things......... very initiative... when saw rubbish they`ll collect, when saw error, they`ll automatic fix it.. if they dono, they`ll ask me how to..... that is why I never being calculative with them... bring them to fancy restaurant once in a while.......... smile.gif

am_eniey
post Feb 22 2010, 12:23 PM

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QUOTE(Awakened_Angel @ Feb 21 2010, 05:16 PM)
this is what I heard from agents....

only few sectors are opened... construction, plantation & manufacturing..... service are closed......
*
I want to hire monkeys and elephants to help me doing business because no local wants to work. The government are closing all services permits because they don't understand how hard a small business owner like me to run and maintain a business. Politicians are there to talk only. They know nothing about life as a civillian !
Awakened_Angel
post Feb 22 2010, 03:22 PM

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QUOTE(am_eniey @ Feb 22 2010, 01:23 PM)
They know nothing about life as a civillian !
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they know...

But they don`t care.... as long as they can korek money from us, they don`t care how hard we work
Haihzz
post Feb 22 2010, 04:00 PM

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TS, your capital although massive its still quite a sum.. any preference on your capital ..i mean is it your savings.. or you are the guy who run business for others.. or .. you name it.
Selectt
post Feb 22 2010, 05:37 PM

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QUOTE(edyek @ Jan 25 2010, 05:15 PM)
I first started out to sell mIRC PSY bot when I'm primary six whereby it was mIRC golden age. My friend setup and I market it. Whole town buy from me. Good business for kids like me. Everyday I can spend on good ice cream.  brows.gif
haha.. i like you. thumbup.gif
TSedyek
post Feb 23 2010, 06:10 PM

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QUOTE(am_eniey @ Feb 22 2010, 12:23 PM)
I want to hire monkeys and elephants to help me doing business because no local wants to work. The government are closing all services permits because they don't understand how hard a small business owner like me to run and maintain a business. Politicians are there to talk only. They know nothing about life as a civillian !
*
Yes. Thats the problem that we are facing now. Hire local = Expensive, malas (Mostly). Hire Foreign = Passport, Work pass, Guarantor and shitty stuff.

QUOTE(Awakened_Angel @ Feb 22 2010, 03:22 PM)
they know...

But they don`t care.... as long as they can korek money from us, they don`t care how hard we work
*
True. The last person you can trust is politicians.

QUOTE(Haihzz @ Feb 22 2010, 04:00 PM)
TS, your capital although massive its still quite a sum.. any preference on your capital ..i mean is it your savings.. or you are the guy who run business for others.. or .. you name it.
*
Combination of my savings, other kantao earnings, OPM (Others people money) happy.gif

QUOTE(Selectt @ Feb 22 2010, 05:37 PM)
haha.. i like you.  thumbup.gif
*
blush.gif Thank you.
sheffbatik
post Feb 24 2010, 03:22 AM

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i'm considering to take over a laundry business, surrounding full of condo, but the are 2-3 laundry operate within 2-3km within. the owner wanted to sell to me 18k with all the things in the shop. overhead per month is rm1800. as daily income is around 200-290 for walk in customer. the laundry have regular customer and have been operated for 3 years. reason for selling conflict with other business.

my question is

1.do you think is profitable for me to take over?
2. how do i increase the sales?
3. how long do u think i can cover back the capital that i invest.

if you have any experience to share with me, be gladly to know..



bcteh
post Feb 24 2010, 03:25 AM

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QUOTE(sheffbatik @ Feb 24 2010, 03:22 AM)
i'm considering to take over a laundry business, surrounding full of condo, but the are 2-3 laundry operate within 2-3km within. the owner wanted to sell to me  18k with all the things in the shop. overhead per month is rm1800. as daily income is around 200-290 for walk in customer. the laundry have regular customer and have been operated for 3 years. reason for selling conflict with other business.

my question is

1.do you think is profitable for me to take over?
2. how do i increase the sales?
3. how long do u think i can cover back the capital that i invest.

if you have any experience to share with me, be gladly to know..
*
You can check their account to verify their claims.
If yes, ya I think can go ahead at least you can earn some money there.
And the Rm18k depend on what machine they are selling to you.

This post has been edited by bcteh: Feb 24 2010, 03:25 AM
sheffbatik
post Feb 24 2010, 04:56 AM

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QUOTE(bcteh @ Feb 24 2010, 03:25 AM)
You can check their account to verify their claims.
If yes, ya I think can go ahead at least you can earn some money there.
And the Rm18k depend on what machine they are selling to you.
*
1 heavy duty washer, dryer, normal washer and steam iron,
what shud i check? account , debts ?
wodenus
post Feb 24 2010, 05:17 AM

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QUOTE(sheffbatik @ Feb 24 2010, 04:56 AM)
1 heavy duty washer, dryer, normal washer and steam iron,
what shud i check? account , debts ?
*
Just one? hard to make money with just one. Rent's the same whether you have one or ten, so if you have the demand, a few more washer/dryers would help make more money. Also, why's he selling it? what does he mean by "conflict with other business" ?

What about breakdowns? if you have only one machine and it dies, you're out of business until it's fixed.

This post has been edited by wodenus: Feb 24 2010, 05:24 AM
sheffbatik
post Feb 24 2010, 01:00 PM

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QUOTE(wodenus @ Feb 24 2010, 05:17 AM)
Just one? hard to make money with just one. Rent's the same whether you have one or ten, so if you have the demand, a few more washer/dryers would help make more money. Also, why's he selling it? what does he mean by "conflict with other business" ?

What about breakdowns? if you have only one machine and it dies, you're out of business until it's fixed.
*
currently the owner have a stationary, restaurant.. so this laundry is in other side of town, he can't give full commitment.
i also has done survey, new heavy duty washer, dryer and steam iron full set will cost around 14k with installation,piping and etc+ 1 year part n labor warranty.

in your opinion, which one is worth it, setup a new shop or takeover business. i know setup a new business will cost me more, but takeover business means i already got regular customer and the business is ready to go. help me!
wodenus
post Feb 24 2010, 01:57 PM

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QUOTE(sheffbatik @ Feb 24 2010, 01:00 PM)
currently the owner have a stationary, restaurant.. so this laundry is in other side of town, he can't give full commitment.


If he's making as much as he says, he could have easily hired someone to take care of it. If we assume 200-290/day, we're talking about 6000-8700 a month. Since overhead is Rm1800/month, we're left with Rm4200-6900 a month. One worker would cost maybe Rm1200? that still leaves him with 3000-5700 a month.

QUOTE(sheffbatik @ Feb 24 2010, 01:00 PM)
i also has done survey, new heavy duty washer, dryer and steam iron full set will cost around 14k with installation,piping and etc+ 1 year part n labor warranty.


Better hope it doesn't break down too early then.

QUOTE(sheffbatik @ Feb 24 2010, 01:00 PM)
in your opinion, which one is worth it, setup a new shop or takeover business. i know setup a new business will cost me more, but takeover business means i already got regular customer and the business is ready to go. help me!


Takeover is better if you can find a good business to take over. Thing is, though, no one will sell a business that is doing well that cheaply. Most people who buy businesses buy ones that are failing, the business is failing and the owner has given up and is selling cheap. They look over the business and think they can see what the owner is doing wrong, so they buy it to try and make it work. People usually don't sell profitable businesses really cheap.

The risk of takeover is that it may have hidden problems (borrowings from loan sharks etc.) That will give you serious problems later on. Starting a new business is more expensive, but you don't have to worry about anything the previous owner didn't tell you about.

sheffbatik
post Feb 24 2010, 02:35 PM

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really appreciated on ur views, how can i check if the business is really going well and have no bad debts ,loan sharks or whatever can haunt me in the future time

what should i considered in take over business rather than setup a new shop? which one is worth it,


TSedyek
post Feb 24 2010, 03:19 PM

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QUOTE(sheffbatik @ Feb 24 2010, 02:35 PM)
really appreciated on ur views, how can i check if the business is really going well and have no bad debts ,loan sharks or whatever can haunt me in the future time

what should i considered in take over business rather than setup a new shop? which one is worth it,
*
If you intend to take over, just setup a new company or sdn. bhd. to take over the business from him (not take over the owner company). Therefore you will not have any problem.
sheffbatik
post Feb 24 2010, 03:29 PM

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QUOTE(edyek @ Feb 24 2010, 03:19 PM)
If you intend to take over, just setup a new company or sdn. bhd. to take over the business from him (not take over the owner company). Therefore you will not have any problem.
*
for sure, i'm only to buy the business not the company and change it to my company. by doing so, i'm not attach if any bad debt from the previous company right? thanks for ur help, this thread is really informative.

in your point of view, shud i setup an enterprise or sdn bhd? what is pro n cons?
am_eniey
post Feb 24 2010, 03:52 PM

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QUOTE(sheffbatik @ Feb 24 2010, 03:29 PM)
for sure, i'm only to buy the business not the company and change it to my company. by doing so, i'm not attach if any bad debt from the previous company right? thanks for ur help, this thread is really informative.

in your point of view, shud i setup an enterprise or sdn bhd? what is pro n cons?
*
you sell baju batik or something....sorry to interrupt !
sheffbatik
post Feb 24 2010, 04:15 PM

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QUOTE(am_eniey @ Feb 24 2010, 03:52 PM)
you sell baju batik or something....sorry to interrupt !
*
ya, but it is for women only, i sell batik imported from bandung, indonesia .like baju kebaya, kurung ,kurung moden, jubah. most of them come is set, top, kain batik n matching selendang.
TSedyek
post Feb 26 2010, 11:21 AM

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QUOTE(sheffbatik @ Feb 24 2010, 03:29 PM)
for sure, i'm only to buy the business not the company and change it to my company. by doing so, i'm not attach if any bad debt from the previous company right? thanks for ur help, this thread is really informative.

in your point of view, shud i setup an enterprise or sdn bhd? what is pro n cons?
*
Yes, by doing so you are free of bad debt.

What your business modal?
sheffbatik
post Feb 26 2010, 03:14 PM

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QUOTE(edyek @ Feb 26 2010, 11:21 AM)
Yes, by doing so you are free of bad debt.

What your business modal?
*
sorry sir, r u asking about my capital@ modal in bm?

if yes it is rm18k. may i know what document shud i prepared?


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post Feb 26 2010, 06:29 PM

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QUOTE(sheffbatik @ Feb 26 2010, 03:14 PM)
sorry sir, r u asking about my capital@ modal in bm?

if yes it is rm18k. may i know what document shud i prepared?
*
If you can afford to bear the debt of 18k in case anything goes wrong, then you just go to your local council to register your business. Go to the info counter and ask whats the procedure.

If you decide to expand your business in the future, you can opt to change from normal company to s/b.
tinlung
post Feb 26 2010, 08:25 PM

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QUOTE(edyek @ Feb 26 2010, 06:29 PM)

If you decide to expand your business in the future, you can opt to change from normal company to s/b.
*
dear sir,

can you kindly explain why from enterprise (self-employed) to change to s/b if planning to expand the company? maybe pro and cons between the two is appreciated. thank you.
SeeD
post Feb 27 2010, 03:10 AM

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Self employed also means your liability is huge. Eg. If you are self employed and the company bankrupts, you are responsible for all the money lost.

If you change to sdn bhd, it is called limited liability company. This means that the company is a separate "you". If it happens to go bankrupt, you are not responsible for all the debts.

So I think the main difference is your own security. There are also a few tax advantages I think (maybe edyek can explain more on that).

However, don't take limited liability company for granted (Like cheating people's money and escape) as there are officials who are going to check if the directors are doing a good job of preventing the company from getting bankrupt. If they happen to found out that the director (YOU) are not doing a good job, then you risk getting into jail.

If you're from China, prepare a coffin when this happens. Because they will put a bullet through your head.
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post Feb 27 2010, 04:17 PM

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QUOTE(SeeD @ Feb 27 2010, 03:10 AM)
Self employed also means your liability is huge. Eg. If you are self employed and the company bankrupts, you are responsible for all the money lost.

If you change to sdn bhd, it is called limited liability company. This means that the company is a separate "you". If it happens to go bankrupt, you are not responsible for all the debts.

So I think the main difference is your own security. There are also a few tax advantages I think (maybe edyek can explain more on that).

However, don't take limited liability company for granted (Like cheating people's money and escape) as there are officials who are going to check if the directors are doing a good job of preventing the company from getting bankrupt. If they happen to found out that the director (YOU) are not doing a good job, then you risk getting into jail.

If you're from China, prepare a coffin when this happens. Because they will put a bullet through your head.
*
Good explanation.

I prefer s/b company then normal company. Why?

The Pro?
1) People are serious with me. I'm using an s/b company, HEY? at least I fork out some money to create this s/b which shows I'm solid and sincere.

2) S/B company income/expenses will be massive. This is to ensure my own identity safety. My own identity if never to be joke with. Bankruptcy on the company rather than on my own name.

3) I can report less tax. Some expenses can reduce your tax paying. Please consult your chartered accountant on this. I cannot explain more on this topic.

The Con?
Yes, I've to fork out a sum of money to register an s/b. Yes, I've to audit my account yearly. Yes, all this cost money. I rather pay this money to have no headache and have a peace of mind.
Wangan
post Mar 8 2010, 01:42 PM

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1)Was In a contract with Maxis at 2009 as a contractor. Managed their sites in maintenance, Civil eng. works, grass cutting, ad hoc and etc. Total profit from May 2009 til Dec 2009 is RM700k, net profit RM200k. Only 1 partner which is my mum. Til now just get only 50k, and they block our payment due to some reasons. Meeting almost every month, they promise to release payment but there are none. Really sad about this. We drop the contract on 31 Dec 2009 and do not wish to continue anymore. sad.gif

2)Newest is, I just sign a contract with CIMB on supplying computers to their client. Project start next week(hopefully) with a capital of RM133k++, supply to 2 schools in perak.

3) Site acquisition in early May for U-Mobile. No capital required, only spend some cash on fuel for traveling to talk with landlord, and get some profit that's all.



From my point of view, business is fun, and risky at the same time. My experience with maxis already give me alot of trouble in dealing with payment to subs, loan and everything. But it is good as starter like me to gain more experience. thumbup.gif . Btw, im still a diploma student, and it still doesnt stop me looking for more business.
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post Mar 8 2010, 07:55 PM

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Hye all....
i'm planning to open a pro shop(shop that sell bowling ball and accesorries)
anyone can help me how to start...
Selectt
post Mar 9 2010, 01:45 PM

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QUOTE(Wangan @ Mar 8 2010, 01:42 PM)
1)Was In a contract with Maxis at 2009 as a contractor. Managed their sites in maintenance, Civil eng. works, grass cutting, ad hoc and etc. Total profit from May 2009 til Dec 2009 is RM700k, net profit RM200k. Only 1 partner which is my mum. Til now just get only 50k, and they block our payment due to some reasons. Meeting almost every month, they promise to release payment but there are none. Really sad about this. We drop the contract on 31 Dec 2009 and do not wish to continue anymore. sad.gif

2)Newest is, I just sign a contract with CIMB on supplying computers to their client. Project start next week(hopefully) with a capital of RM133k++, supply to 2 schools in perak.

3) Site acquisition in early May for U-Mobile. No capital required, only spend some cash on fuel for traveling to talk with landlord, and get some profit that's all.
From my point of view, business is fun, and risky at the same time. My experience with maxis already give me alot of trouble in dealing with payment to subs, loan and everything. But it is good as starter like me to gain more experience.  thumbup.gif . Btw, im still a diploma student, and it still doesnt stop me looking for more business.
*
I m confused. What do you do actually? how do u get all these projects? shocking.gif
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post Mar 9 2010, 02:02 PM

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Wangan
post Mar 9 2010, 04:47 PM

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QUOTE(Selectt @ Mar 9 2010, 01:45 PM)
I m confused. What do you do actually? how do u get all these projects?  shocking.gif
*
For Maxis, I get the project from this company which he the director get a bigger project in Melaka, and he want to focus on the other project. He is my friend, and I get 95% of profit while his company get 5% as commission. It was a long and hard procedure during that time, but managed to complete it. Cos of that, I have to skip many classes and til now still havent graduate. rclxub.gif


other project, I just go and propose my company to enter in. Luckily i got in thumbup.gif due to company portfolio are good.


and of course, a little bit of insider connection tongue.gif
OnOne
post Mar 10 2010, 11:28 AM

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QUOTE(Wangan @ Mar 9 2010, 04:47 PM)
For Maxis, I get the project from this company which he the director get a bigger project in Melaka, and he want to focus on the other project. He is my friend, and I get 95% of profit while his company get 5% as commission. It was a long and hard procedure during that time, but managed to complete it. Cos of that, I have to skip many classes and til now still havent graduate. rclxub.gif
other project, I just go and propose my company to enter in. Luckily i got in thumbup.gif due to company portfolio are good.
and of course, a little bit of insider connection tongue.gif
*
this is a family business right, u just take over right???

This post has been edited by OnOne: Mar 10 2010, 11:31 AM
Jordy
post Mar 10 2010, 12:24 PM

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QUOTE(Wangan @ Mar 9 2010, 04:47 PM)
For Maxis, I get the project from this company which he the director get a bigger project in Melaka, and he want to focus on the other project. He is my friend, and I get 95% of profit while his company get 5% as commission. It was a long and hard procedure during that time, but managed to complete it. Cos of that, I have to skip many classes and til now still havent graduate. rclxub.gif
other project, I just go and propose my company to enter in. Luckily i got in thumbup.gif due to company portfolio are good.
and of course, a little bit of insider connection tongue.gif
*
Wangan,

Wow, you had to skip many classes but you have the time to come online whistling.gif Besides, if you really have so many connections, you don't need to graduate at all. Many great entrepreneurs are not graduates themselves.
Selectt
post Mar 10 2010, 06:44 PM

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QUOTE(Wangan @ Mar 9 2010, 04:47 PM)
For Maxis, I get the project from this company which he the director get a bigger project in Melaka, and he want to focus on the other project. He is my friend, and I get 95% of profit while his company get 5% as commission. It was a long and hard procedure during that time, but managed to complete it. Cos of that, I have to skip many classes and til now still havent graduate. rclxub.gif
other project, I just go and propose my company to enter in. Luckily i got in thumbup.gif due to company portfolio are good.
and of course, a little bit of insider connection tongue.gif
*
good for you. you already earn xx times than avg students, even more so working adults. i assume you already have a company with staff from your family?
Wangan
post Mar 11 2010, 05:07 AM

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QUOTE(OnOne @ Mar 10 2010, 11:28 AM)
this is a family business right, u just take over right???
*
hmm well my mum is doing with telco also, but different company. She do her job, I do my Job. Get most of the experience from her. but definitely not a take over.


QUOTE(Jordy @ Mar 10 2010, 12:24 PM)
Wangan,

Wow, you had to skip many classes but you have the time to come online whistling.gif Besides, if you really have so many connections, you don't need to graduate at all. Many great entrepreneurs are not graduates themselves.
*
Nope, infact, Im on holiday now. Just finished my final exam last week, thats why i have the time to share my experience rclxms.gif. Well, I started the business when I got 3 semester left. spent at college about 3 years already, feel wasted if I just drop it. Might as well i finish it. beside, my diploma can be my back-up right eventho today ppl dont look at diploma. But still can be useful in future tongue.gif April is my last semester btw. biggrin.gif


QUOTE(Selectt @ Mar 10 2010, 06:44 PM)
good for you. you already earn xx times than avg students, even more so working adults. i assume you already have a company with staff from your family?
*
To tell u the truth, I only have less than 10 staff. lol. I worked by my own and on weekends my girlfriend will help me. I do paperworks, accounts, audit, documentation, and everything except site job. Most of my staff are at the northern. But now no more already since I drop the contract with Maxis already. I only focus with CIMB project. thumbup.gif
TSedyek
post Mar 12 2010, 10:22 PM

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@Wangan.

It's good to see that you start early and have earned a decent money. Bear in mind that, you need to strive harder in order to get to a higher height.

Anyway, doing contracts for government/big companies is a good thing. Just remember to keep your cash flow as liquid as possible. You never know when they will hold/delay/freeze your payment. I myself is undertaking government contracts, and I only take what im able to chew. If my cashflow is not able to cater for 3 months emergencies/contingency fund, I will not consider taking the contract.

Good luck.
happy4ever
post Mar 13 2010, 11:08 AM

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QUOTE(edyek @ Mar 12 2010, 10:22 PM)
@Wangan.

It's good to see that you start early and have earned a decent money. Bear in mind that, you need to strive harder in order to get to a higher height.

Anyway, doing contracts for government/big companies is a good thing. Just remember to keep your cash flow as liquid as possible. You never know when they will hold/delay/freeze your payment. I myself is undertaking government contracts, and I only take what im able to chew. If my cashflow is not able to cater for 3 months emergencies/contingency fund, I will not consider taking the contract.

Good luck.
*
Most of the time, government contracts don't earn you much. IN between a big bulk of money goes into people's pocket, leaving a small amount for the contractor to work on. Thats why you hear about leaking buildings and cracking highways.
boringz
post Mar 13 2010, 01:38 PM

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Hey guys, what do you think of being a delivery agent? I am starting a business as a delivery agent. People need to send something, I help to gather more information, get the quotations, then find the best few for them to pick. What do you think?
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post Mar 13 2010, 02:45 PM

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I come across there is agent that offering one stop solution represent multi delivery principal. If you can offer special price rather end users direct enquiry to principal, then why not...
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post Mar 13 2010, 04:54 PM

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QUOTE(edyek @ Mar 12 2010, 10:22 PM)
@Wangan.

It's good to see that you start early and have earned a decent money. Bear in mind that, you need to strive harder in order to get to a higher height.

Anyway, doing contracts for government/big companies is a good thing. Just remember to keep your cash flow as liquid as possible. You never know when they will hold/delay/freeze your payment. I myself is undertaking government contracts, and I only take what im able to chew. If my cashflow is not able to cater for 3 months emergencies/contingency fund, I will not consider taking the contract.

Good luck.
*
Most SMEs that I know of cannot afford :-

1) Political link
2) Government link, and or
3) Police link

Costs exceed benefits in the long run. And Cashflow is another matter to look into it.

Even Bankers avoid loans to political links.

And there is no law to say that SMEs are guaranteed to be paid by Big Companies. And do provide some budgets for the worst case scenario.

This post has been edited by SKY 1809: Mar 13 2010, 05:12 PM
boringz
post Mar 13 2010, 05:09 PM

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Yup, it's about the price.

Sending items using agents can get you special quotations that you can't get from those logistics directly, that's a major plus.

Oh yeah meanwhile,

Anybody wants to send anything? MSG ME! tongue.gif
happy4ever
post Mar 13 2010, 05:54 PM

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QUOTE(SKY 1809 @ Mar 13 2010, 04:54 PM)
Most SMEs  that I know of cannot afford :-

1) Political link
2) Government link, and or
3) Police link

Costs exceed benefits in the long run. And Cashflow is another matter to look into it.

Even Bankers avoid loans to political links.

And there is no law to say that SMEs are guaranteed to be paid by Big Companies. And do provide some budgets for the worst case scenario.
*
This you are wrong

SMEs can get government loans and grants easily if they are Bumi companies.

There are lots of pinkunicorn companies floating around with MSC titles and demanding millions every year for some crappy product they are supposed to do. And most of this which involves millions, also involve politicians in between, else they cant get that much money approved.


Added on March 13, 2010, 5:55 pm
QUOTE(boringz @ Mar 13 2010, 05:09 PM)
Yup, it's about the price.

Sending items using agents can get you special quotations that you can't get from those logistics directly, that's a major plus.

Oh yeah meanwhile,

Anybody wants to send anything? MSG ME! tongue.gif
*
I want to send emails.

This post has been edited by happy4ever: Mar 13 2010, 05:55 PM
boringz
post Mar 13 2010, 06:14 PM

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hahahaha... i know someone will mention about emails.. I scared ppl say send letter even. tongue.gif
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post Mar 13 2010, 06:40 PM

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QUOTE(happy4ever @ Mar 13 2010, 05:54 PM)
This you are wrong

SMEs can get government loans and grants easily if they are Bumi companies.

There are lots of pinkunicorn companies floating around with MSC titles and demanding millions every year for some crappy product they are supposed to do. And most of this which involves millions, also involve politicians in between, else they cant get that much money approved.


Added on March 13, 2010, 5:55 pm
I want to send emails.
*
Sori, I do not have any associations with these group of companies, a in way quite innocent.

But I just read an article saying wealth created over the past 30 years or so by using this method , only 3% increase the almost.

http://www.themalaysianinsider.com/index.p...90-dump-the-nep

If you intend to use this method again and again , do expect another 3% growth for the next coming 20 years.

Of course , some could do much better than others even if they do not go into businesses.

And I refer to Real Wealth Creations > like those real efforts put in by the China or Indian men, and many others.

And by the way, do we need another 50 years to do test run on another Policy ( NEM ) coming soon ?

This post has been edited by SKY 1809: Mar 13 2010, 07:03 PM
boringz
post Mar 13 2010, 07:00 PM

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what do you think a customer looks for in a delivery agent?

Best Price
Secure delivery AKA will items go missing?
Convenience - As an agent, I help to do all the logistics things that you might not know how to do.
(?) Any others?


Thanks for your feedback~~
happy4ever
post Mar 13 2010, 07:18 PM

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QUOTE(SKY 1809 @ Mar 13 2010, 06:40 PM)
Sori, I do not have any associations with these group  of companies,  a in way quite innocent.

But I just read  an article saying wealth created over the past 30 years or so by using this method  , only 3% increase the almost.

http://www.themalaysianinsider.com/index.p...90-dump-the-nep

If you intend to use this method again and again , do expect another 3% growth for the next coming 20 years.

Of course , some could do much better than others even if they do not go into businesses.

And I refer to Real  Wealth Creations > like those real efforts put in by the China or Indian men, and many others.

And by the way, do we need another 50 years to do test  run on another Policy ( NEM ) coming soon ?
*
No

you're saying MOST SMEs cannot afford
1) Political link
2) Government link, and or
3) Police link

of which itself is already incorrect. You're assuming business owners do not know how to network with people of high social/political standings.




SKY 1809
post Mar 14 2010, 12:04 AM

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QUOTE(happy4ever @ Mar 13 2010, 07:18 PM)
No

you're saying MOST SMEs cannot afford
1) Political link
2) Government link, and or
3) Police link

of which itself is already incorrect. You're assuming business owners do not know how to network with people of high social/political standings.
*
You think you got me wrong.

What I mean is , the Costs to network these high flying political people would exceed the benefits in the long run.

As you said earlier, if you factor in these networking costs , actual costs of putting up a proper Building would exceed the revenues . Might just earn a super thin profit.

So a possible way of making money is to do less networking . Perhaps cutting down from 10 layers of networks to 2 layers to save costs.

And Not every networking that you do would produce good results, you still need to do some proper filtering.

Even you could get lot of business from networking, there is no guarantee that you get prompt payments or paid at all.

So another round of begging , goes on and on.

Eventually costs are exceeding benefits, by a big margin.

Otherwise, buildings would not collapse so easily. There is nothing wrong with networking here. It is high cost per se.

In short, they just cannot afford the high costs of Networking. Not the problem of they do not know how to do.

And If you could write a book on how to Network effectively ( with min costs ) , perhaps could potentially be a Best Seller in Malaysia.

You could also save many buildings from crackings or collapsing.

This post has been edited by SKY 1809: Mar 14 2010, 07:15 PM
happy4ever
post Mar 14 2010, 05:23 AM

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QUOTE(SKY 1809 @ Mar 14 2010, 12:04 AM)
You think you got me wrong.

What I mean the Costs to network these high flying political people would exceed the benefits in the long run.

As you said earlier, if you factor in these networking costs , actual costs of putting up   a  proper Building  would exceed the profit. So earning a super thin profit.

So a possible of making money is to do less networking . Perhaps cutting down rom 10 layers of networks  to 2 layers to save costs.

And Not every networking that you do would produce good results, you still need to do some proper filtering.

Even you could get lot of business from networking, there is no guarantee that you get  prompt payments or paid at all.

So another round of begging , goes go and go.

Eventually costs are exceeding benefits, by a big margin.

Otherwise,  buildings would not collapse so easily. There is nothing wrong with networking here. It is high cost per se.

In short, they just cannot afford  the high costs of Networking. Not the problem of they do not know how to do.

And If you could write a book on how to Network effectively ( with min costs ) , perhaps  could potentially a  Best Seller in Malaysia.

You could also save many buildings from crackings or collapsing.
*
Its not about the cost to network with such people.

Its about not having your priorities right in the first place. There's nothing wrong in networking with such people.
If you honestly think it is not worthwhile to go ahead, then pass it back. smile.gif
Its only when you are greedy, knowing the implications, yet still proceed ahead to undertake the project, then you'll have trouble.

This post has been edited by happy4ever: Mar 14 2010, 05:23 AM
SKY 1809
post Mar 14 2010, 08:45 AM

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QUOTE(happy4ever @ Mar 14 2010, 05:23 AM)
Its not about the cost to network with such people.

Its about not having your priorities right in the first place. There's nothing wrong in networking with such people.
If you honestly think it is not worthwhile to go ahead, then pass it back. smile.gif
Its only when you are greedy, knowing the implications, yet still proceed ahead to undertake the project, then you'll have trouble.
*
I get a bit of confused when people talk about " GREEDY "

But, I do believe what W Buffett says about " Greedy " is the correct one , and I always believe so :-

Be Fearful when people are Greedy

Be Greedy when people are Fearful.

I put what he says in practice, and it works for me., though more fine tunes have to be done.
Yes, it is not so simple and straightforward as the words may sound. As you say, there are implications, I also agree 100%.

That is why I think and believe he ( W Buffett ) is right. and Knowing who to trust and who to believe is very important for me.

Not sure of others.

This post has been edited by SKY 1809: Mar 14 2010, 09:31 AM
happy4ever
post Mar 14 2010, 10:44 AM

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QUOTE(SKY 1809 @ Mar 14 2010, 08:45 AM)
I get a bit of confused when people talk about " GREEDY "

But, I do believe what W Buffett says  about " Greedy " is the correct one , and I always believe so :-

Be Fearful when people are Greedy

Be Greedy when people are Fearful.

I put what he says in practice, and it works for me., though more fine tunes  have to be done.
Yes, it is  not so simple and straightforward as the words may sound. As you say, there are implications, I also agree 100%.

That is why I think and believe  he ( W Buffett )  is right. and  Knowing who to trust and who to believe is very important for me.

Not sure of others.
*
Yes, I agree with you on that too happy.gif

I have not moved on to W buffet yet though. Pretty slow reader myself tongue.gif

I've read carly fiorina, and now at richard branson (darn thick book), and next would be W buffet. I love biographies.

boringz
post Mar 14 2010, 11:45 AM

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those phrases WG mentions is aimed at the things he is good at. FINANCE.

That's a mentality when playing with shares for example.
Buy when people sell. Sell when people buy.

GREED AND FEAR. the 2 big words for humans in any financial market.
xixo_12
post Mar 14 2010, 06:14 PM

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QUOTE
Success :

1. Car wash
Capital : 20k
a. Water Jet Pump - RM 800 (3 nos) = RM 2,400
b. Soap Bomb (Snow Wash Dispenser) = RM 700 (2nd hand) *Just fill in the soap and it will come out with snow wash, and the shape is like a bomb
c. Detergent = RM 500. Always stock 10 tong (RM 50/tong).
d. Cleaning Cloth = RM 100 (50 pieces)
e. Other miscellaneous stuff = Book, Promotion banner etc. = RM 1,000
f. Minor renovation = Concrete ramp for under car wash. M&E wiring. Minor repair to the dessert house. = RM 15k
g. Some additional cash to start the day = RM 500
Partner : 1
Location : Nearby Government Office and Residential Area. Converted a dessert house to a carwash centre.
Monthly/Daily Income : Average 55 cars daily, average RM 11 per car.
Workers : 10 workers. RM 300 per person. With commission RM 1 per car and includes lunch
Duration : Manage it for 1 year and a half and sell it off.
Opinion : Good cash flow business. Easy to manage. thumbup.gif


I have plan to open this kind of business... currently i have no idea, and need some guidance from you.

Do I need to apply any licences to open this business? just new to the business environment, feeling like wanna stop my current job.
tq smile.gif
TSedyek
post Mar 14 2010, 07:31 PM

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QUOTE(xixo_12 @ Mar 14 2010, 06:14 PM)
I have plan to open this kind of business... currently i have no idea, and need some guidance from you.

Do I need to apply any licences to open this business? just new to the business environment, feeling like wanna stop my current job.
tq smile.gif
*
Answer me the following question before I'm allowed to guide you.

1) Location
Have you found any suitable place to setup your car wash?

2) Partners
Are you going to do it alone? or ask your friend(s) to joint venture with you?

3) Capital
How much you have to spare if you tend to start this biz?

4) Why do you want to stop your current job? Is the pay too low? Or you are no interested in your current job? Or others?


xixo_12
post Mar 14 2010, 07:36 PM

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QUOTE(edyek @ Mar 14 2010, 07:31 PM)
Answer me the following question before I'm allowed to guide you.

1) Location
Have you found any suitable place to setup your car wash?

2) Partners
Are you going to do it alone? or ask your friend(s) to joint venture with you?

3) Capital
How much you have to spare if you tend to start this biz?

4) Why do you want to stop your current job? Is the pay too low? Or you are no interested in your current job? Or others?
*
1. Still searching the suitable place.
2. It's going to be family business.
3. 15k capital as starting.
4. I'm no longer put any interested to work for other people.

thank you smile.gif
TSedyek
post Mar 14 2010, 07:43 PM

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QUOTE(xixo_12 @ Mar 14 2010, 07:36 PM)
1. Still searching the suitable place.
2. It's going to be family business.
3. 15k capital as starting.
4. I'm no longer put any interested to work for other people.

thank you smile.gif
*
Before you start this, I suggest you go and wash your car(s) everyday to find out every possible details/trade secret that you need to know about this business. You can even ask the workers there where to find workers that will become your workers.

The following steps for you to follow through:

1) Find a suitable place. Hows the traffic flow there? Is there sufficient car passes by? How muh is the rental for the place (This is the most crucial in car wash as rental is normally the big chunk of meat been biten off by your expenses.)

2) Find workers. Advertise on streets or etc. Or just go to some agents and find some indo worker (cost you a lot).

3) Go to your local council to apply for business license a.k.a. trading license.

4) Find suppliers to supply you shampoo and machinery.

5) Advertise and start your business.

There are alot of details for you to follow up, but this is just the basic guide line for you to follow through.
xixo_12
post Mar 14 2010, 07:46 PM

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QUOTE(edyek @ Mar 14 2010, 07:43 PM)
Before you start this, I suggest you go and wash your car(s) everyday to find out every possible details/trade secret that you need to know about this business. You can even ask the workers there where to find workers that will become your workers.

The following steps for you to follow through:

1) Find a suitable place. Hows the traffic flow there? Is there sufficient car passes by? How muh is the rental for the place (This is the most crucial in car wash as rental is normally the big chunk of meat been biten off by your expenses.)

2) Find workers. Advertise on streets or etc. Or just go to some agents and find some indo worker (cost you a lot).

3) Go to your local council to apply for business license a.k.a. trading license.

4) Find suppliers to supply you shampoo and machinery.

5) Advertise and start your business.

There are alot of details for you to follow up, but this is just the basic guide line for you to follow through.
*
Nice guide.
I have a problem to understand point no:3,
Local council = majlis perbandaran (something similar)
Is it true?

for the rest of point, I think I can handle it.

TSedyek
post Mar 14 2010, 07:49 PM

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QUOTE(xixo_12 @ Mar 14 2010, 07:46 PM)
Nice guide.
I have a problem to understand point no:3,
Local council = majlis perbandaran (something similar)
Is it true?

for the rest of point, I think I can handle it.
*
Correct.

After you have everything ready, do post it here to share with us. I would like to see how you are getting on.

Good luck to you.

Any problems, just post it back here so that I can help you out with it. thumbup.gif
xixo_12
post Mar 14 2010, 07:51 PM

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owh ok.. smile.gif
Thanks for the help wink.gif
Jordy
post Mar 14 2010, 11:52 PM

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QUOTE(xixo_12 @ Mar 14 2010, 07:51 PM)
owh ok.. smile.gif
Thanks for the help wink.gif
*
xixo_12,

I didn't know you're so active here. Don't know if you still remember me, but if you start your car wash business, do inform me. I would like to go and get my car washed (for a discount I hope) smile.gif
boringz
post Mar 15 2010, 09:27 AM

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Does anyone here deal with insurance or have insurance experience on logistics?
junkeat
post Mar 15 2010, 11:51 AM

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QUOTE(edyek @ Mar 14 2010, 07:49 PM)
Correct.

After you have everything ready, do post it here to share with us. I would like to see how you are getting on.

Good luck to you.

Any problems, just post it back here so that I can help you out with it.  thumbup.gif
*
Edyek,

I don't understand if we already apply business license from SSM why do we need to apply business license from local council ?

Is it all kind of business need to apply from local council ?
TSedyek
post Mar 15 2010, 06:05 PM

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QUOTE(junkeat @ Mar 15 2010, 11:51 AM)
Edyek,

I don't understand if we already apply business license from SSM why do we need to apply business license from local council ?

Is it all kind of business need to apply from local council ?
*
SSM is the license for you to trade or do business all over Malaysia. If you are in a particular town/city, you need to apply license from local council as it is to follow local state rules.

Strictly speaking, we need license from local council because you are doing business in their territory. Recently from other forumers replies, I've found out that online business does not required local council license, only register with SSM.

Eg.
You want to open a kopitiam. You need to register kopitiam license from the local council to operate a kopitiam. This is because the council can keep track of you thus monitoring your kopitiam health status.


Added on March 15, 2010, 6:06 pm
QUOTE(boringz @ Mar 15 2010, 09:27 AM)
Does anyone here deal with insurance or have insurance experience on logistics?
*
Care to elaborate more on your question?

This post has been edited by edyek: Mar 15 2010, 06:06 PM
boringz
post Mar 16 2010, 11:08 AM

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Hi edyek,

When you travel along the highway, you sell all those heavy vehicles, like lorries, and stuff right?

I know that some of them travel WITHOUT insurance. Anything lost then.. too bad. haha.

I google around, and I don't really see insurance for deliveries anywhere around. Maybe I wrote the wrong search keywords la..

I emailed kurnia about it, so far no reply. If anyone is an agent in insurance and knows any information about this, let me know ya? I am hoping to have an insurance partner for my freight agent biz. smile.gif THanks!~


Added on March 16, 2010, 4:36 pmguys do you know anybody that supplies furniture in Malaysia? Meaning Malaysia produced furniture smile.gif Got lobang from sg hehe

This post has been edited by boringz: Mar 16 2010, 04:36 PM
TSedyek
post Mar 16 2010, 08:39 PM

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QUOTE(boringz @ Mar 16 2010, 11:08 AM)
Hi edyek,

When you travel along the highway, you sell all those heavy vehicles, like lorries, and stuff right?

I know that some of them travel WITHOUT insurance. Anything lost then.. too bad. haha.

I google around, and I don't really see insurance for deliveries anywhere around. Maybe I wrote the wrong search keywords la..

I emailed kurnia about it, so far no reply. If anyone is an agent in insurance and knows any information about this, let me know ya? I am hoping to have an insurance partner for my freight agent biz. smile.gif THanks!~


Added on March 16, 2010, 4:36 pmguys do you know anybody that supplies furniture in Malaysia? Meaning Malaysia produced furniture smile.gif Got lobang from sg hehe
*
Care to ellaborate your idea?

What you means is, I've a CPO tanker which I transport CPO from a mill to the port. And I buy "your idea of insurance". If along the way, my CPO kena hijack or stolen, you are ready to cover my loss for my CPO?
boringz
post Mar 16 2010, 09:20 PM

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Yes, supposedly so enyek. There should be such insurance to cover the item from loss or theft or whatever reasons while the item is transported from A to B... there should be a name for such insurance right?
junkeat
post Mar 16 2010, 09:46 PM

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QUOTE(edyek @ Mar 15 2010, 06:05 PM)
SSM is the license for you to trade or do business all over Malaysia. If you are in a particular town/city, you need to apply license from local council as it is to follow local state rules.

Strictly speaking, we need license from local council because you are doing business in their territory. Recently from other forumers replies, I've found out that online business does not required local council license, only register with SSM.

Eg.
You want to open a kopitiam. You need to register kopitiam license from the local council to operate a kopitiam. This is because the council can keep track of you thus monitoring your kopitiam health status.


Added on March 15, 2010, 6:06 pm

Care to elaborate more on your question?
*
Wat if i wan to open a company such as law firm ? acc firm ? do i need local council license ?
SKY 1809
post Mar 16 2010, 09:51 PM

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QUOTE(boringz @ Mar 16 2010, 09:20 PM)
Yes, supposedly so enyek. There should be such insurance to cover the item from loss or theft or whatever reasons while the item is transported from A to B... there should be a name for such insurance right?
*
Cargoes/marine Insurance to cover you or custmers' goods from loss. Usually customers purchase the insurance themselves.

Another is cover legal Actions from Customers/their insurers for hijacking or damaging of goods while transported by you.
. There is a name for it , cannot recall offhand. More like " Transporter's liability/Cargoes Hijacking insurance"


Though customers may have purchased insurance themselves to cover the goods. But once claim paid by an insurance company. That insurer through rights surrendered by customers to them, may start a legal case against you as transporter for negligence etc.

Many small transporters may want to save this INSURANCE cost ( very expensive ) , but ending up with serious consequences. Many are competing for businesses without factoring in this COST.

It is also depending on the costs of the cargoes they carry, some fetching over one million for IT parts like chips.

This post has been edited by SKY 1809: Mar 16 2010, 10:45 PM
boringz
post Mar 16 2010, 10:19 PM

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the legal 1 is the one I am looking for I think tongue.gif

Protection against legal actions. I asked my lawyer about this... how to avoid legal actions. Could I state very clearly on my Terms of Service?

My lawyer says cannot. sad.gif "NO MATTER WHAT, U WILL GET SUED."

what the ****, what kind of services is that. I thought I pay the lawyer to do solve this problem. who knows she straight say impossible. if they want to sue, they will find their way. lol

do help me to find what's that name bro please biggrin.gif thanks!
SKY 1809
post Mar 16 2010, 10:27 PM

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QUOTE(boringz @ Mar 16 2010, 10:19 PM)
the legal 1 is the one I am looking for I think tongue.gif

Protection against legal actions. I asked my lawyer about this... how to avoid legal actions. Could I state very clearly on my Terms of Service?

My lawyer says cannot. sad.gif "NO MATTER WHAT, U WILL GET SUED."

what the ****, what kind of services is that. I thought I pay the lawyer to do solve this problem. who knows she straight say impossible. if they want to sue, they will find their way. lol

do help me to find what's that name bro please biggrin.gif thanks!
*
"
Carrier Liability , big word. smaller version is " Transporter's liability" . Make sure you cover the hijacks if goods are expensive and easily hijacked.

If you just carry chickens or eggs, then most probably can bear the loss, or else engage a lawyer to fight for you.

For claims of few hundred K or millions, if you lose the case in court ( your insurance bear your costs ) if you have such an insurance.


Added on March 16, 2010, 10:30 pmAir and ocean carriers are normally liable for all damage, delay, and loss of cargo except those arising from act of God, act of the shipper, and inherent nature of the goods from acceptance of cargo through its delivery or release. Air carriers are usually liable under Warsaw convention, and ocean carriers under Hague convention.

For Malaysia, it covers land as well.

This post has been edited by SKY 1809: Mar 16 2010, 10:55 PM


Attached File(s)
Attached File  The_economics_of_carrier.pdf ( 65.31k ) Number of downloads: 50
TSedyek
post Mar 17 2010, 12:36 AM

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QUOTE(junkeat @ Mar 16 2010, 09:46 PM)
Wat if i wan to open a company such as law firm ? acc firm ? do i need local council license ?
*
Law firm
1) Lawyer license

2) Sdn. Bhd.

3) Local council license to operate on local town/city

Same thing goes to others.

Local Council License is a license that enables you to operate your business at the town/city that you are operating your business. NO MATTER WHAT BUSINESS IT IS.

Even pasar malam also have local council license and pasar malam license to operate.
skiddtrader
post Mar 17 2010, 12:56 AM

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QUOTE(boringz @ Mar 16 2010, 09:20 PM)
Yes, supposedly so enyek. There should be such insurance to cover the item from loss or theft or whatever reasons while the item is transported from A to B... there should be a name for such insurance right?
*
Google for "cargo insurance". There are a few informative links, I wasn't sure if its the right one but you might find what you are looking for.
boringz
post Mar 17 2010, 01:56 AM

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thanks guysss.. really thanks a lot. appreciated. smile.gif
AlexC
post Mar 17 2010, 04:14 AM

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1st of all, gladly c that we have a platform that share to each others. Thx <b> edyek </b> for creating this post n letting all of us share at here. Im really appreciate although im fresh to this forum and as a learner from you. By the way, can u share wif us more details about the seaweed cultivation u mentioned? Im quite interest to know how u make it as after the scandal reported by the news lately about the seaweed cultivation. Cheers XD



boringz
post Mar 17 2010, 09:37 AM

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anybody intending to organize a meetup let me know ok tongue.gif


Added on March 17, 2010, 1:23 pmGuys, what should and can I do to 'broadcast' my logistics services?

please don't tell me put advert on tv, etc...

How to market out a business? Or in particular logistics delivery services? Cost effectively? How to get many links so that I can actually practically 'know everyone'...

I really like this phrase a lot: "I can't buy from you because I DON'T KNOW YOU EXIST" wink.gif

This post has been edited by boringz: Mar 17 2010, 01:23 PM
ken_zie
post Mar 17 2010, 10:40 PM

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ok, i'm new here and i actually have one business idea in my mind... i'll explain how i come up with such idea... sometimes i'll buy some clothes online (as it is lots cheaper) but i always encountered few problems...

1) the real clothes is a bit different with the pictures
2) does not fit me (size too big/small)
3) does not look good on me

and i feel many girls out there also often encountered this. so, i was thinking doing a business where i'll help my customers to order clothes online. but i does not plan to do this business online as there are already too many people doing that. i'm thinking i can start small, find a small, decent shop/place, people will come to my shop for putting orders, and they'll collect the clothes at my place as well. what i'm trying to make it different from other online/traditional sellers is that they are allowed to return the clothes that they are not satisfied with to me (with terms/condition and few ringgits penalty). means that if they bought the clothes for RM 20, they will only get RM 15 back, means RM 5 penalty (or more or less). then i'll put the clothes on sale in my shop.

reason for the penalty when they return the clothes:
from what i see in LYN, many people bought something and found it not suitable and they sell it a little cheaper than the original price. but, they have one risk is that people may not buy it. so, i'm applying the same theory here (assuming they sell it to me). actually this idea is kind like those Avon, Cosway concept. they order from the catalogue, then also collect the item themselves at that shop.

i know my idea is kind of....... seems unrealistic (i'm not sure)... but, i really would like to hear comments & critics from you guys. is this possible?

This post has been edited by ken_zie: Mar 17 2010, 10:46 PM
boringz
post Mar 17 2010, 10:57 PM

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Might sound good in theory but, is it practical?

People enter biz to earn money...... if it earns u almost NIL, then what's the point.

Do you think it will earn? Put yourself in multiple personalities and think. As an investor, would people want to invest?


BUT, don't take my thoughts with any seriousness... ask others who have more experience in clothing biz! wink.gif

-just my 30 sen tongue.gif

This post has been edited by boringz: Mar 17 2010, 11:05 PM
ken_zie
post Mar 17 2010, 11:15 PM

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boringz> thanks for the C&C... i'm fine with it. we learn from mistakes right?

hmm, okay. i'm not sure if you miss out my point. let's say the cost of the clothes is RM 15, of course i'll sell it at a higher price at RM 25 - assuming (which i think is still cheaper from all those shops in the mall). so, there's where i'll earn. and also from selling away those "returned" clothes.



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post Mar 17 2010, 11:38 PM

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QUOTE(AlexC @ Mar 17 2010, 04:14 AM)
1st of all, gladly c that we have a platform that share to each others. Thx <b> edyek </b> for creating this post n letting all of us share at here. Im really appreciate although im fresh to this forum and as a learner from you. By the way, can u share wif us more details about the seaweed cultivation u mentioned? Im quite interest to know how u make it as after the scandal reported by the news lately about the seaweed cultivation. Cheers XD
*
I do not gather private investment from the public and so far I only pump in my own money to cultivate seaweed. So no harm donw to thw public, and what I've earn is not the public business. whistling.gif

QUOTE(boringz @ Mar 17 2010, 09:37 AM)
please don't tell me put advert on tv, etc...

How to market out a business? Or in particular logistics delivery services? Cost effectively? How to get many links so that I can actually practically 'know everyone'...

I really like this phrase a lot: "I can't buy from you because I DON'T KNOW YOU EXIST" wink.gif
*
Use some guerilla marketing methods. Bold and effective. I've no suggestion for you. You need to figure this out for yourself. Creativity is the essential to marketing.

QUOTE(ken_zie @ Mar 17 2010, 10:40 PM)
ok, i'm new here and i actually have one business idea in my mind... i'll explain how i come up with such idea... sometimes i'll buy some clothes online (as it is lots cheaper) but i always encountered few problems...

1) the real clothes is a bit different with the pictures
2) does not fit me (size too big/small)
3) does not look good on me

and i feel many girls out there also often encountered this. so, i was thinking doing a business where i'll help my customers to order clothes online. but i does not plan to do this business online as there are already too many people doing that. i'm thinking i can start small, find a small, decent shop/place, people will come to my shop for putting orders, and they'll collect the clothes at my place as well. what i'm trying to make it different from other online/traditional sellers is that they are allowed to return the clothes that they are not satisfied with to me (with terms/condition and few ringgits penalty). means that if they bought the clothes for RM 20, they will only get RM 15 back, means RM 5 penalty (or more or less). then i'll put the clothes on sale in my shop.

reason for the penalty when they return the clothes:
from what i see in LYN, many people bought something and found it not suitable and they sell it a little cheaper than the original price. but, they have one risk is that people may not buy it. so, i'm applying the same theory here (assuming they sell it to me). actually this idea is kind like those Avon, Cosway concept. they order from the catalogue, then also collect the item themselves at that shop.

i know my idea is kind of....... seems unrealistic (i'm not sure)... but, i really would like to hear comments & critics from you guys. is this possible?
*
For me, this is not a feasible business. Yes, you are definitely providing a good customer services after sales, but do you really think it will do you any good? Doing business is all about earning money, if you do not earn any money in business, then what is the difference in doing charity?

Maybe your idea will work, but you need to fine tune your idea. How will it be profitable if people keep returning you unsatisfied items to you?

AlexC
post Mar 18 2010, 12:21 AM

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haha tats y im asking u how is ur cultivation differ , mind to share wif us ?how u manage it? as i seem like involving in such field , experience and technique on particular field is quite important
junkeat
post Mar 18 2010, 01:41 AM

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QUOTE(boringz @ Mar 17 2010, 10:57 PM)
Might sound good in theory but, is it practical?

People enter biz to earn money...... if it earns u almost NIL, then what's the point.

Do you think it will earn? Put yourself in multiple personalities and think. As an investor, would people want to invest?
BUT, don't take my thoughts with any seriousness... ask others who have more experience in clothing biz! wink.gif

-just my 30 sen  tongue.gif
*
I think it is time for u to think something to run on your promotion
skiddtrader
post Mar 18 2010, 05:33 AM

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QUOTE(ken_zie @ Mar 17 2010, 10:40 PM)
ok, i'm new here and i actually have one business idea in my mind... i'll explain how i come up with such idea... sometimes i'll buy some clothes online (as it is lots cheaper) but i always encountered few problems...

1) the real clothes is a bit different with the pictures
2) does not fit me (size too big/small)
3) does not look good on me

and i feel many girls out there also often encountered this. so, i was thinking doing a business where i'll help my customers to order clothes online. but i does not plan to do this business online as there are already too many people doing that. i'm thinking i can start small, find a small, decent shop/place, people will come to my shop for putting orders, and they'll collect the clothes at my place as well. what i'm trying to make it different from other online/traditional sellers is that they are allowed to return the clothes that they are not satisfied with to me (with terms/condition and few ringgits penalty). means that if they bought the clothes for RM 20, they will only get RM 15 back, means RM 5 penalty (or more or less). then i'll put the clothes on sale in my shop.

reason for the penalty when they return the clothes:
from what i see in LYN, many people bought something and found it not suitable and they sell it a little cheaper than the original price. but, they have one risk is that people may not buy it. so, i'm applying the same theory here (assuming they sell it to me). actually this idea is kind like those Avon, Cosway concept. they order from the catalogue, then also collect the item themselves at that shop.

i know my idea is kind of....... seems unrealistic (i'm not sure)... but, i really would like to hear comments & critics from you guys. is this possible?
*
hi ken_zie,

This concept is similar to the return policy of major department stores. Something very common in the US where you aren't happy with a purchase you made in their store, you can return it back and change for another item.

However this applies only if you already have a store to begin with and it assures customer satisfaction with this value added service. Meaning customers need not worry about buying something of a wrong size because they can return it anytime or change it if they aren't happy with the product once they tried it.

Online stores not only provides a cheaper alternative to a physical store, it is extremely convenient for a busy lady at work to do some shopping without stepping out of the office. My friends bought stuff online and the clothes/items they bought are delivered straight to their office or home where they can try it. They do not need to go to any physical stores and experience the jam and the sun or rain. The risks like you mentioned is that sometimes what they bought does not fit them and then they are stuck with this clothes/items which they do not want to wear/use. But this does not happen very often because if it did, online stores will not be popular anymore. Maybe out of 10 purchases, customers might not be happy with 2 or 3.

1. Since you intend to open a physical store, shoppers don't have the convenience anymore since they have to come to you like they do any normal retail shops.

2. I assume you will also charge a commision to order online for them, so the costs of buying online has increased for them. Since they are already travelling out of their office/homes, why cant they just go to a shopping centre and buy their clothes instead which they can try on or test. Do they need to go to your shop to collect?

3. The only service you provide is the guarantee that if they aren't happy with the product, they can return it to you at a discount of maybe 25-35%. So if they are happy, then you only earn the commision from them if they are not, you are stuck with the rejected stuff that you need to sell to earn money.

4. How can your store which only provides 1 specialise service beat the other normal stores that are selling clothes in the street which customers can test the products. Since you don't sell clothes originally and only sell clothes rejected by customers and customers still need to go to your shop just to collect and still don't know if what they ordered will fit them or not.

5. You assume the risk of an unhappy customer, you earn peanuts compared to other clothing stores around you that buy their clothes at much cheaper prices in bulk, your customers still need to order online from you and you will most likely be labeled as a 2nd hand store because you are selling customer rejected goods.

Ultimately, I doubt your business can survive on that concept alone. But you can use that idea as a value added service for a clothing store.

IMHO anyway.

This post has been edited by skiddtrader: Mar 18 2010, 05:34 AM
boringz
post Mar 18 2010, 09:39 AM

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QUOTE(junkeat @ Mar 18 2010, 01:41 AM)
I think it is time for u to think something to run on your promotion
*
Hey junkeat, don't understand what u mean, could u explain? hmm.gif

sry nod.gif
pednekarpm
post Mar 18 2010, 10:57 AM

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Thanks for starting such a beautiful thread. I am planning to start a bread shop (not a bakery) to sell different types of bread in a housing location. What are the things I need to consider? Its a cheap rental shoplot but with a healthy poppulation of 3000++ families.

ken_zie
post Mar 18 2010, 12:52 PM

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okay, thanks guys for all the opinion... your opinions meant a lot. will take all that into account... conclusion, the idea is not practical... earning too little... will need to do more research on this...

oh ya.... i just wonder, do you know if there's any courses related to house cleaning in malaysia? i mean they teach you how's the proper way to clean something or take care of the furniture, etc.
junkeat
post Mar 18 2010, 01:33 PM

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QUOTE(boringz @ Mar 18 2010, 09:39 AM)
Hey junkeat, don't understand what u mean, could u explain?  hmm.gif

sry  nod.gif
*
Because u say u earn nil in the business. Nowadays business rarely breakeven. Either earn or lost. If it is nill means u have chance to gain profit. Thus, run some promotion might help u gain profit instead of lost.

As Edyek said u might need red sea strategy.
boringz
post Mar 18 2010, 02:04 PM

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thanks for the replies junkeat.

haha... i never see the 'red sea' part. tongue.gif

where to find the red sea strategy?


to be honest, really have to see the long term. if u are able to see, then u can understand whether the biz works or not.

this is really what we call, market research. . . dad likes to tell me this. haha
junkeat
post Mar 18 2010, 03:10 PM

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QUOTE(boringz @ Mar 18 2010, 02:04 PM)
thanks for the replies junkeat.

haha... i never see the 'red sea' part. tongue.gif

where to find the red sea strategy?
to be honest, really have to see the long term. if u are able to see, then u can understand whether the biz works or not.

this is really what we call, market research. . . dad likes to tell me this. haha
*
Erm....go find in MPH, they selling red n blue sea book too.
boringz
post Mar 18 2010, 08:13 PM

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i heard blue sea lar... nvr c red sea b4.. will look for it soon wink.gif
Jordy
post Mar 18 2010, 09:06 PM

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QUOTE(junkeat @ Mar 18 2010, 03:10 PM)
Erm....go find in MPH, they selling red n blue sea book too.
*
junkeat,

If you know nothing, then don't act like you know. What is "red sea strategy" or "blue sea"? There is ONLY "Blue Ocean Strategy".
junkeat
post Mar 18 2010, 09:35 PM

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QUOTE(Jordy @ Mar 18 2010, 09:06 PM)
junkeat,

If you know nothing, then don't act like you know. What is "red sea strategy" or "blue sea"? There is ONLY "Blue Ocean Strategy".
*
Thanks
boringz
post Mar 19 2010, 09:26 AM

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hahahahaahaa....

even I also mix up the words. tongue.gif

blue ocean!!!!!

that 1 i seen b4. hehe


Added on March 19, 2010, 11:02 amedyek,

guerrilla marketing.. really targets younger generation right.

what about marketing to a more senior age group? (30-40-50)



This post has been edited by boringz: Mar 19 2010, 11:02 AM
SKY 1809
post Mar 19 2010, 05:44 PM

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I do not have any objection of people reading any good motivation books.

But most readers as I can see , majority are ending up as reviewers of the books. They like to argue the pro and cons in reading such books. Or pointing out where the authors could fail in certain areas.

I wonder whether is it the primary objective of reading a such book, so as to speak ?

Or the world is in fact producing more and more reviewers at the speed of the internet ?

What have you learned as a book reader in the first place ?

This post has been edited by SKY 1809: Mar 19 2010, 05:50 PM
boringz
post Mar 19 2010, 05:51 PM

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isn't the primary objective of reading them is to get motivated?

i myself gets easily inspired. I feel very motivated after reading those motivational books. haha..

though those who doesn't get it and criticize, are often those in the working force and criticizing on everything else too. ha ha. they are the ones that will make the author rich and happy. biggrin.gif

-boringz
HW-Racer
post Mar 19 2010, 09:36 PM

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i am quite interested in the foot reflexology biz (clean one....no body massage..)

my questions is that ...what is the cost like ?
it is difficult to get license ?? and permit to hire qualified masseurs...from china, thailand , etc??

is this biz profitable ?? pls. enlighten flex.gif
SKY 1809
post Mar 20 2010, 11:33 AM

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QUOTE(boringz @ Mar 19 2010, 05:51 PM)
isn't the primary objective of reading them is to get motivated?

i myself gets easily inspired. I feel very motivated after reading those motivational books. haha..

though those who doesn't get it and criticize, are often those in the working force and criticizing on everything else too. ha ha. they are the ones that will make the author rich and happy. biggrin.gif

-boringz
*
Hi Boringz,

Nice to hear from you, people still with PMA.

I believe in learning a few good points from the books, and if possible putting some of them into real life practice.

I think that is the most difficult part, for me, and still trying.

But at least, for me personally, is better than wasting time to debate what is good and bad thing about the book.

No one is perfect anyway.

Best of luck to you and your business.

This post has been edited by SKY 1809: Mar 20 2010, 11:38 AM
TSedyek
post Mar 21 2010, 07:04 PM

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QUOTE(boringz @ Mar 19 2010, 09:26 AM)
guerrilla marketing.. really targets younger generation right.

what about marketing to a more senior age group? (30-40-50)
*
Please go and find some marketing books out there in the market. What I can recommend you is "Purple Cow" by Seth Gordin.

QUOTE(HW-Racer @ Mar 19 2010, 09:36 PM)
i am quite interested in the foot reflexology biz (clean one....no body massage..)

my questions is that ...what is the cost like ?
it is difficult to get license ?? and permit to hire qualified masseurs...from china, thailand , etc??

is this biz profitable ?? pls. enlighten  flex.gif
*
What do you mean by clean one? Body massage is also "clean" isn't it? What you are trying to say is No "Dirty Sxx stuff", right?

For a foot reflexology the cost would be around 30k-50k (hiring man power, rental, renovation, minor equipment/things EXCLUDING LICENSE) . Nth much in foot reflexology actuaclly, as you do not provide steam bath, jacuzzi and etc.
Just purely manpower on massaging foot.

It is not difficult in getting those license. The question you should ask is, IS IT WORTH to get those license? You need to spend hefty money sum of money to apply, you need to go through a lot of procedure before you are even allowed to register, and etc. Different states have different rules and regulations. If you are really that interested, please do go to your local council to ask for information.

What I can see is, foot reflexology is a profitable business, providing your massager knows how to massage and some really good marketing. As these days, there are hell lotsa of foot reflexology and all of them are the same. Nth new, Nth special.
Awakened_Angel
post Mar 22 2010, 09:04 AM

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QUOTE(edyek @ Mar 21 2010, 08:04 PM)
Please go and find some marketing books out there in the market. What I can recommend you is "Purple Cow" by Seth Gordin.
What do you mean by clean one? Body massage is also "clean" isn't it? What you are trying to say is No "Dirty Sxx stuff", right?

For a foot reflexology the cost would be around 30k-50k (hiring man power, rental, renovation, minor equipment/things EXCLUDING LICENSE) . Nth much in foot reflexology actuaclly, as you do not provide steam bath, jacuzzi and etc.
Just purely manpower on massaging foot.

It is not difficult in getting those license. The question you should ask is, IS IT WORTH to get those license? You need to spend hefty money sum of money to apply, you need to go through a lot of procedure before you are even allowed to register, and etc. Different states have different rules and regulations. If you are really that interested, please do go to your local council to ask for information.

What I can see is, foot reflexology is a profitable business, providing your massager knows how to massage and some really good marketing. As these days, there are hell lotsa of foot reflexology and all of them are the same. Nth new, Nth special.
*
I tend to experience this.. after read marketing books/from seminar, we tend to implement what we learned and most of the time, what is written is not that practical in our business..... wink.gif
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post Mar 22 2010, 09:27 AM

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QUOTE(Awakened_Angel @ Mar 22 2010, 09:04 AM)
I tend to experience this.. after read marketing books/from seminar, we tend to implement what we learned and most of the time, what is written is not that practical in our business.....  wink.gif
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Theory is less than 5% that what is really going on in real business.
boringz
post Mar 22 2010, 09:55 AM

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practical 'training' is the best. ha ha ha


Added on March 22, 2010, 2:40 pm
QUOTE(SKY 1809 @ Mar 20 2010, 11:33 AM)
Hi Boringz,

Nice to hear from you, people still with PMA.

I believe in  learning a few good points from the books, and if possible putting some of them into real life practice.

I think that is the most difficult part, for me, and still trying.

But at least, for me personally, is better than wasting time to debate what is good and bad thing about the book.

No one is perfect anyway.

Best of luck to you and your business.
*
thanks bro!! hope you are successful too! biggrin.gif


Added on March 22, 2010, 2:58 pmRead something today. Guys, check this out:

Billionare Requirements (slideshow)

Take note of the pointers! really cool.

Original story:

Billionare Requirements FORBES

This post has been edited by boringz: Mar 22 2010, 02:58 PM
Awakened_Angel
post Mar 22 2010, 06:01 PM

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QUOTE(am_eniey @ Mar 22 2010, 10:27 AM)
Theory is less than 5% that what is really going on in real business.
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yes... and again... fail n retry
boringz
post Mar 22 2010, 07:36 PM

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how do SMEs deal with competition? contribute your thoughts guys.
constant
post Mar 22 2010, 08:45 PM

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QUOTE(am_eniey @ Mar 22 2010, 09:27 AM)
Theory is less than 5% that what is really going on in real business.
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I dun think so. Theory is quite close to reality. People put too much weight on their own experience. A lot of the experience is just common sense. Can you give example of how theory is only 5% of reality.
Awakened_Angel
post Mar 22 2010, 10:12 PM

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QUOTE(Awakened_Angel @ Mar 22 2010, 07:01 PM)
yes... and again... fail n retry
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try be accurate

indirect competition?

direct competition with smaller scale?

direct competition with equal scale?

or worse.. direct competition with large/mega scale(eg awakened_angel telco line vs maxis)
TSedyek
post Mar 22 2010, 10:58 PM

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QUOTE(boringz @ Mar 22 2010, 07:36 PM)
how do SMEs deal with competition? contribute your thoughts guys.
*
1. Sufficient cashflow. Survivor of the fittest.

2. Superb marketing strategy. Always differ fom others.

3. Focus on your source of income. The one with the most profits.


boringz
post Mar 22 2010, 11:21 PM

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Hey awakened,

I think I give some scenarios so you guys can view it easily. This question is really a thought suggestion question to 'brainstorm' possible reactions to scenarios. HOW TO WIN/OUTDO THE COMPETITOR.

Recap Q: how do SMEs deal with competition? contribute your thoughts guys.

These are some cooked up scenarios I can think of. Will add more if I can think of more! smile.gif

Scenario 1:

Already existing Computer shop A competing with already existing Computer shop B in same area. Like maybe in low yat.

How should computer shop A deal with this type of competition?

Scenario 2:

Local Coffee shop compete with Starbucks in Times Square.

How should the local coffee shop deal with this type of competition?

Scenario 3:

Brand New massage parlor shop opening beside your shop and you are providing similar services too.

How should your shop deal with this type of competition?

Scenario 4:

Company A upsetting the market by giving ridiculously low prices. Company B suffering badly because everyone jumping ship to company A.

How should company B deal with this type of competition?

Scenario 5:

brand-wise competition: DHL famed for logistics vs smaller logistics companies. Though DHL is famed especially for parcel deliveries, indirectly they also affect other carriers like shipping companies, trucking companies due to the extensive marketing done by DHL that cannot be done by smaller companies.

How should smaller companies deal with this type of competition?
junkeat
post Mar 23 2010, 09:33 AM

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QUOTE(boringz @ Mar 22 2010, 11:21 PM)
Scenario 1:

Already existing Computer shop A competing with already existing Computer shop B in same area. Like maybe in low yat.
How should computer shop A deal with this type of competition?

Scenario 2:
Local Coffee shop compete with Starbucks in Times Square.
How should the local coffee shop deal with this type of competition?

Scenario 3:
Brand New massage parlor shop opening beside your shop and you are providing similar services too.
How should your shop deal with this type of competition?

Scenario 4:
Company A upsetting the market by giving ridiculously low prices. Company B suffering badly because everyone jumping ship to company A.
How should company B deal with this type of competition?

Scenario 5:
brand-wise competition: DHL famed for logistics vs smaller logistics companies. Though DHL is famed especially for parcel deliveries, indirectly they also affect other carriers like shipping companies, trucking companies due to the extensive marketing done by DHL that cannot be done by smaller companies.
How should smaller companies deal with this type of competition?
*
Scenario 1.
Since most of the part price is fluctuate over the time therefore to compete with other is only service. Let me explain.
When i went to car workshop. The foreman tell me actually every driver must know basic knowledge how to take care your car like wash water pump, cooler. aware what is the problem of your car. So he teach me basic little by little everytime i went to his workshop. But i asked, u teach me all of the car service skill. u don't afraid of creting more competitor ? He say, those skill is nothing because main earning is from engine where it is impossible to teach u in theory.

So i guess he answer scenario 1 where by providing info to new blood by computer knowledge may keep customer in long run.

Scenario 2.
Local coffee shop vs Starbuck. Local shop ( not old town) their customer mostly is retirement uncle and starbuck is working class. So both wont match ( research from starbuck)

Local coffee shop ( old town) vs Starbuck. Both are youngster market but income level is different and local coffee shop can have lot variety of food where starbuck only provide cake. So this is the matter of taste n preference. Just like eat noodle or rice.

Scenario 3.
I did ask this question to a marketing person.
He reply : Everyday your cost is fixed. What is variable is where number of customer that coming in is different. Due product is not a must for everyone but relaxing. So, wat u can do is have more promotion to attract customer and enchant your worker massage skill to create satisfaction then only the customer will flow to your shop.

But big competitor have spa etc etc ? I asked.
He reply. Service industry is not talking about money is the leader of the market. That is y creativity own the market share nowadays.

I reply:" @_@ ???"

Scenario 4
Money is the main factor where ppl shifting from company A to B but employee are easier to satisfy where employment benefit preferred.

I asked restaurant owner. How much u give them a month ?
Owner : xx amount. I asked. So less is tis enough for them ?
Owner : ppl u cant give them more. Ppl always not satisfy wit wat they have. U give them more ? they expect u to raise somemore.
Me: how do u secure them to stay with u ?
Owner: Shampoo, working shoe, tooth brush. Whatever but not money. Because they will never know the company treating them good once money gone or store in the bank. But ppl will tend to remember gift from ppl whenever they see.

Scenario 5
Never come across with the delivery company. .

This post has been edited by junkeat: Mar 23 2010, 09:34 AM
rockets
post Mar 23 2010, 11:22 AM

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I'll answer a few.

QUOTE(boringz @ Mar 22 2010, 11:21 PM)
Scenario 1:

Already existing Computer shop A competing with already existing Computer shop B in same area. Like maybe in low yat.

How should computer shop A deal with this type of competition?
Lower operating cost. Margin is very low in this line of business, with low operating cost you'll be able to price your products more competitively. It deosn't matter if your shop looks like shit in the corner of somewhere, people will still come to you to save a few bucks.

Many have tried value added services like good customer service but overall it just deosn't work that well in Malaysia. Malaysian consumers are a terrible bunch and they'll abuse any system when given the opportunity. You'll have idiots who fried thier chips from lack of knowledge on how to install computer components to idiots who broke their gfcard from overclocking, coming to claim an exchange from you. In the US, those big stores will change them on the spot for you - really good customer service. In Malaysia if you do that, you'd close store in a month.

QUOTE
Scenario 2:

Local Coffee shop compete with Starbucks in Times Square.

How should the local coffee shop deal with this type of competition?
Positioning. Starbucks is positioned for middle to upper class customers. Local coffee shops works on the lower end of the spectrum.

Differentiate. Starbucks is fairly predictable, they drive on a straight road and you know they'll never imitate what you do even when they find you successful. So do what Starbucks cannot provide, while try to avoid going head-on with what they can provide - besides coffee of course. Starbucks = Coffee + cakes and pastries + wifi. Your shop could sell coffee + budget mixed rice for example. Starbucks won't challenge your mixed rice business tongue.gif.

QUOTE
Scenario 3:

Brand New massage parlor shop opening beside your shop and you are providing similar services too.

How should your shop deal with this type of competition?
Start a loyalty program. You already have a customer base while they don't. Give perks to these customers so they'll stay with you.

Referal benefits. Use your customers to work for you smile.gif.

Give your shop a facelift and advertise yourself in health forums.

This post has been edited by rockets: Mar 23 2010, 11:25 AM
boringz
post Mar 23 2010, 11:42 AM

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nice guys. nice comments. more feedback! its really for all to take a view on other people's thoughts and learn and benefit from 'brainstorming'. smile.gif
kuokyeow
post Mar 23 2010, 04:41 PM

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donno if its suitable to ask here. SME company can use normal broadband service like Maxis Broadband and still can deduct tax?

There were packages for SME but it doesnt really suitable for company cause we just use for emailing and normal light surfing.
SKY 1809
post Mar 23 2010, 08:28 PM

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QUOTE(kuokyeow @ Mar 23 2010, 04:41 PM)
donno if its suitable to ask here. SME company can use normal broadband service like Maxis Broadband and still can deduct tax?

There were packages for SME but it doesnt really suitable for company cause we just use for emailing and normal light surfing.
*
Expenses that are relevant to your normal businesses ( in the production of your business ) are usually deductible.

Preferably incurred under the name of the company to avoid any query that may arise ( like personal usage etc ).


sellerlol
post Mar 24 2010, 10:06 PM

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I am planning to open a Laundry Business at a Sungai Besi shoplot. There`s a apartment opposite the shoplot. My cost for the equipment is around rm30k. small renovation around 5k.

My worker which is also my partner is my uncle and aunty.

How much can i charge per kg???
wat the current price per kg??
am_eniey
post Mar 25 2010, 10:45 AM

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QUOTE(sellerlol @ Mar 24 2010, 10:06 PM)
I am planning to open a Laundry Business at a Sungai Besi shoplot. There`s a apartment opposite the shoplot. My cost for the equipment is around rm30k. small renovation around 5k.

My worker which is also my partner is my uncle and aunty.

How much can i charge per kg???
wat the current price per kg??
*
you plan to do it full time ?
sellerlol
post Mar 25 2010, 03:41 PM

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QUOTE(am_eniey @ Mar 25 2010, 10:45 AM)
you plan to do it full time ?
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I dun plan to work full time.
I juz notice tat there are a laundry shop in the apartment.
Can i open a laundry shop beside a existing laundry shop???
am_eniey
post Mar 25 2010, 03:54 PM

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QUOTE(sellerlol @ Mar 25 2010, 03:41 PM)
I dun plan to work full time.
I juz notice tat there are a laundry shop in the apartment.
Can i open a laundry shop beside a existing laundry shop???
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if it's not full time, you can forget about such business !
sellerlol
post Mar 25 2010, 10:42 PM

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QUOTE(am_eniey @ Mar 25 2010, 03:54 PM)
if it's not full time, you can forget about such business !
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i am not going to work full time but my uncle will be there the whole time.

TSedyek
post Mar 27 2010, 01:51 AM

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QUOTE(sellerlol @ Mar 25 2010, 10:42 PM)
i am not going to work full time but my uncle will be there the whole time.
*
If you do not plan to work full time and your uncle will be working full time, then how can you say that it is your business? In the end, I can tell you that, you will either close down your laundry shop or end up selling the shop to your uncle.

If you do not have time to incubate your new business into a money making machine, you might as well save your time to do the things that you plan to do it full time.
sellerlol
post Mar 27 2010, 08:41 AM

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SO, i should work full time in the laundry.
BTW, can i open a laundry shop beside another existing laundry shop??
TSedyek
post Mar 27 2010, 04:42 PM

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QUOTE(sellerlol @ Mar 27 2010, 08:41 AM)
SO, i should work full time in the laundry.
BTW, can i open a laundry shop beside another existing laundry shop??
*
Since you do not have necessary experience, then you should work full time to get to know how your laundry shop works.

Why you can't open beside another existing laundry shop?
Competing with another laundry is actuaclly a healthy competition.
sellerlol
post Mar 27 2010, 11:06 PM

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QUOTE(edyek @ Mar 27 2010, 04:42 PM)
Since you do not have necessary experience, then you should work full time to get to know how your laundry shop works.

Why you can't open beside another existing laundry shop?
Competing with another laundry is actuaclly a healthy competition.
*
so, it`s fine to compete??
Is RM3 per kg a value price???
cottonkandy
post Mar 28 2010, 03:00 AM

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with only Rm2k capital, what do you think i can do? i'm planning to have partner to start off a business but i don't know what business i can do with so little capital.

but i want to start small and after i get the money generated from the business only i make it a bigger one. anyone can tell me what i can do with so little capital? icon_question.gif
Jordy
post Mar 28 2010, 07:47 AM

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QUOTE(cottonkandy @ Mar 28 2010, 03:00 AM)
with only Rm2k capital, what do you think i can do? i'm planning to have partner to start off a business but i don't know what business i can do with so little capital.

but i want to start small and after i get the money generated from the business only i make it a bigger one. anyone can tell me what i can do with so little capital? icon_question.gif
*
cottonkandy,

Do not get into a partnership for your startup if possible, as you will find yourself being cheated because of your inexperience. Only get a partner when you have learned about your business inside out if you still lack capital. No partner is so good to provide you capital and knowledge.

RM2,000 is a VERY small amount frankly. It is not even enough cashflow for any business. To start off a business, you will have to ensure that you have money for capital, business cashflow and personal emergency fund. I suggest that you just keep that RM2,000 for own use.
TSedyek
post Mar 28 2010, 11:09 AM

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QUOTE(sellerlol @ Mar 27 2010, 11:06 PM)
so, it`s fine to compete??
Is RM3 per kg a value price???
*
You should ask yourself whether this is a fair price. Is the laundry beside you charging this amount of price? I can't judge for you that RM 3 is value price, but what I can tell is that as long as your customer is happy with the pice you charge, then it is value price.

QUOTE(cottonkandy @ Mar 28 2010, 03:00 AM)
with only Rm2k capital, what do you think i can do? i'm planning to have partner to start off a business but i don't know what business i can do with so little capital.

but i want to start small and after i get the money generated from the business only i make it a bigger one. anyone can tell me what i can do with so little capital? icon_question.gif
*
QUOTE(Jordy @ Mar 28 2010, 07:47 AM)
cottonkandy,

Do not get into a partnership for your startup if possible, as you will find yourself being cheated because of your inexperience. Only get a partner when you have learned about your business inside out if you still lack capital. No partner is so good to provide you capital and knowledge.

RM2,000 is a VERY small amount frankly. It is not even enough cashflow for any business. To start off a business, you will have to ensure that you have money for capital, business cashflow and personal emergency fund. I suggest that you just keep that RM2,000 for own use.
*
@Jordy said it all. RM2k is really a peanut therefore there is not much you can do about it. Been through your road before with only RM 1k in hand and got into trading business.

Anyway, save up some emergency fund as you'll never know when you need it. Then with sufficient money in hand, you choose whatever you like to do. In the mean time, take time to think what kind of business suits you.

If you insist in doing business, I will list down the things that you can do:
1) Small trading. Buying and selling of items. (Shoes, slippers, towels, bags, etc.) These are everyones items, and if you tend to sell these stuff, do make a niche out of it.
2) Online business. Ebay? Lelong.com?
3) Blogging. If you are a good author.
4) Do some contract works. (Cutting grass, painting, general cleaning etc.) These job require only small machinery/equipment to start off.
5) Be an agent/broker/introducer for small agency. (Travel agency) Find a group of family and friends who wants to go for a holiday trip, and you pass it to your travel agency to arrange the trip with your commission in it.
6) The list goes on and on.... You just got to go out and look for it, and come out with something better.



liyonglim
post Mar 28 2010, 05:46 PM

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Hi guys, do you think venturing in PSP / PS3 / XBOX / games and etc. a good business?
What are the comments you guys have for thes kind of business?
Jordy
post Mar 28 2010, 06:44 PM

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QUOTE(liyonglim @ Mar 28 2010, 05:46 PM)
Hi guys, do you think venturing in PSP / PS3 / XBOX / games and etc. a good business?
What are the comments you guys have for thes kind of business?
*
liyonglim,

This kind of business is very thematic in nature, which means that they come and go. The rise and fall of this business highly depends on trend. I personally do not know the current market (or trend) for such devices, so I couldn't provide you the exact comment. My advice to you is to STUDY the market and KNOW the market before you jump into the business. Do not get into the business before you gain the experience.
liyonglim
post Mar 28 2010, 08:41 PM

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Dear Jordy, thanks for replying. But at the moment, I really have no idea on how to study the market and know the market as you mentioned. At the moment, I'm working for a corporate and I have about 100k in my saving now and I'm thinking of generating a better income as I need to settle down into marriage since I'm already 26.
Everyday I had been thinking hard what business i could invest in and i dont want my money to just rot in the savings. As for now, i'm thinking in selling gaming consoles / gaming peripherals. But i have no idea whether this business is profitable or not.
cottonkandy
post Mar 28 2010, 09:58 PM

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QUOTE(Jordy @ Mar 28 2010, 07:47 AM)
cottonkandy,

Do not get into a partnership for your startup if possible, as you will find yourself being cheated because of your inexperience. Only get a partner when you have learned about your business inside out if you still lack capital. No partner is so good to provide you capital and knowledge.

RM2,000 is a VERY small amount frankly. It is not even enough cashflow for any business. To start off a business, you will have to ensure that you have money for capital, business cashflow and personal emergency fund. I suggest that you just keep that RM2,000 for own use.
*
bro, i understand that the Rm2k is a small ammount, but thats what i can take out and have more than enough emergency funds. i don't want to take out all my cash cause if i fall, i wouldn't have any more emergency funds. and i'm still a student so i can't take out much and i don't want to depend on my family for this. they always don't ecourage me to do business even they always see me reading books and articles about business because they are afraid for the failure.
TSedyek
post Mar 28 2010, 11:24 PM

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QUOTE(liyonglim @ Mar 28 2010, 08:41 PM)
Dear Jordy, thanks for replying. But at the moment, I really have no idea on how to study the market and know the market as you mentioned. At the moment, I'm working for a corporate and I have about 100k in my saving now and I'm thinking of generating a better income as I need to settle down into marriage since I'm already 26.
Everyday I had been thinking hard what business i could invest in and i dont want my money to just rot in the savings. As for now, i'm thinking in selling gaming consoles / gaming peripherals. But i have no idea whether this business is profitable or not.
*
If you have about 100k of savings, i suggest you to look for other business. Really, I'm not a big fan of selling gaming consoles/peripherals business and nor do i think it will earn alot of return.

There are tonnes of other business out there for you to choose. Choosing what you want to do for business is different from what you really need for business.

I want to sell game consoles to be in business. But am I earning?

Ultimately, it all depends on your planning. What you want to do, how do you execute it, etc.

QUOTE(cottonkandy @ Mar 28 2010, 09:58 PM)
bro, i understand that the Rm2k is a small ammount, but thats what i can take out and have more than enough emergency funds. i don't want to take out all my cash cause if i fall, i wouldn't have any more emergency funds. and i'm still a student so i can't take out much and i don't want to depend on my family for this. they always don't ecourage me to do business even they always see me reading books and articles about business because they are afraid for the failure.
*
If you are still student, then please refer to my examples that I've given you to kick start. No one can show you what business that you are suppose to do. If you are afraid to use that RM 2k into something that you think is worth to do, then better don't do business. Keep it in your saving account.
cottonkandy
post Mar 29 2010, 12:18 AM

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thanks for advise. smile.gif
boringz
post Mar 29 2010, 08:18 PM

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QUOTE(cottonkandy @ Mar 28 2010, 03:00 AM)
with only Rm2k capital, what do you think i can do? i'm planning to have partner to start off a business but i don't know what business i can do with so little capital.

but i want to start small and after i get the money generated from the business only i make it a bigger one. anyone can tell me what i can do with so little capital? icon_question.gif
*
>> Hi cottonkandy, welcome! MY advice, work/save until you feel you have a satisfied amount before you start into any venture. Do plenty of research. Assuming you are still studying, research while you are free. Instead of spending your nights partying, leave a day or two to plan for your future. It's a really good way to refine your thinking. The more you research, the more you will find out that business is not that straightforward. It's not, oh do biz... then do well, then get rich. Then can buy all the things you want to buy. smile.gif My advice, list out what you are good at. List out what you wish you are good at. Then research and plan from there.


QUOTE(liyonglim @ Mar 28 2010, 08:41 PM)
Dear Jordy, thanks for replying. But at the moment, I really have no idea on how to study the market and know the market as you mentioned. At the moment, I'm working for a corporate and I have about 100k in my saving now and I'm thinking of generating a better income as I need to settle down into marriage since I'm already 26.
Everyday I had been thinking hard what business i could invest in and i dont want my money to just rot in the savings. As for now, i'm thinking in selling gaming consoles / gaming peripherals. But i have no idea whether this business is profitable or not.
*
100K? If you are a worker breed (meaning you really do well at work, good work ethics and your boss like you), I think play investment is better than biz. Property? Funds? Insurance? Check them out biggrin.gif
Jordy
post Mar 29 2010, 09:15 PM

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QUOTE(liyonglim @ Mar 28 2010, 08:41 PM)
Dear Jordy, thanks for replying. But at the moment, I really have no idea on how to study the market and know the market as you mentioned. At the moment, I'm working for a corporate and I have about 100k in my saving now and I'm thinking of generating a better income as I need to settle down into marriage since I'm already 26.
Everyday I had been thinking hard what business i could invest in and i dont want my money to just rot in the savings. As for now, i'm thinking in selling gaming consoles / gaming peripherals. But i have no idea whether this business is profitable or not.
*
liyonglim,

The best way to learn about the market for any particular business is to get involved in it, but running a business does not promise you better income than your current job. I will use my experience as an example to reflect my statement.

I opened a cybercafe when I was 21 after working in cybercafes for 3 years. I could tell you everything about a cybercafe inside out if anyone asks. I know the tricks to earn extra income (other than the usual RM2.50 per hour or selling of food and drinks). My business was a success for a short while, but then the problem occured. Parents of underaged children came calling, threathening me to shut down my business or they will report to authorities.

In my case, would I be better off continuing my job in a cybercafe or starting one myself? You be the judge.

QUOTE(cottonkandy @ Mar 28 2010, 09:58 PM)
bro, i understand that the Rm2k is a small ammount, but thats what i can take out and have more than enough emergency funds. i don't want to take out all my cash cause if i fall, i wouldn't have any more emergency funds. and i'm still a student so i can't take out much and i don't want to depend on my family for this. they always don't ecourage me to do business even they always see me reading books and articles about business because they are afraid for the failure.
*
cottonkandy,

Reading books and articles does not make you sudden expert in business. I will always encourage people to start their own businesses, but you will need to KNOW about the business you are starting. Just by simply asking in a forum for business ideas would not work. Even if somebody provided you a great idea, you will still need to do countless researches regarding that business and its potential.

Lets just consider this scenario. What if your business (recommended by a forumer) failed? Are you going to blame it on the forumer for providing you a rubbish idea, or would you blame yourself for not doing enough research?
cottonkandy
post Mar 29 2010, 09:43 PM

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QUOTE(boringz @ Mar 29 2010, 08:18 PM)
>> Hi cottonkandy, welcome! MY advice, work/save until you feel you have a satisfied amount before you start into any venture. Do plenty of research. Assuming you are still studying, research while you are free. Instead of spending your nights partying, leave a day or two to plan for your future. It's a really good way to refine your thinking. The more you research, the more you will find out that business is not that straightforward. It's not, oh do biz... then do well, then get rich. Then can buy all the things you want to buy. smile.gif My advice, list out what you are good at. List out what you wish you are good at. Then research and plan from there.
*
alright thanks.

QUOTE(Jordy @ Mar 29 2010, 09:15 PM)
liyonglim,

The best way to learn about the market for any particular business is to get involved in it, but running a business does not promise you better income than your current job. I will use my experience as an example to reflect my statement.

I opened a cybercafe when I was 21 after working in cybercafes for 3 years. I could tell you everything about a cybercafe inside out if anyone asks. I know the tricks to earn extra income (other than the usual RM2.50 per hour or selling of food and drinks). My business was a success for a short while, but then the problem occured. Parents of underaged children came calling, threathening me to shut down my business or they will report to authorities.

In my case, would I be better off continuing my job in a cybercafe or starting one myself? You be the judge.
cottonkandy,

Reading books and articles does not make you sudden expert in business. I will always encourage people to start their own businesses, but you will need to KNOW about the business you are starting. Just by simply asking in a forum for business ideas would not work. Even if somebody provided you a great idea, you will still need to do countless researches regarding that business and its potential.

Lets just consider this scenario. What if your business (recommended by a forumer) failed? Are you going to blame it on the forumer for providing you a rubbish idea, or would you blame yourself for not doing enough research?
*
yeah i understand that. of course i will do countless research and not blindly throw in my money. and of course if someone provide me with an idea, i will not just follow blindly if i think it doesn't have potential and i have no interest in doing it. neway, thanks for advise.
liyonglim
post Mar 30 2010, 12:05 AM

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QUOTE(boringz @ Mar 29 2010, 08:18 PM)
100K? If you are a worker breed (meaning you really do well at work, good work ethics and your boss like you), I think play investment is better than biz. Property? Funds? Insurance? Check them out biggrin.gif
*
Thank you boringz for the reply. I'm doing fine in my current work. I dont plan to quit me current job to open business. What is in my mind is, i plan to do a side business while keeping my current job. I have a fren who are not working, I'm planning to venture a partnership with him. He will look after the business during the day and i will come after my work.


QUOTE(Jordy @ Mar 29 2010, 09:15 PM)
liyonglim,

The best way to learn about the market for any particular business is to get involved in it, but running a business does not promise you better income than your current job. I will use my experience as an example to reflect my statement.

I opened a cybercafe when I was 21 after working in cybercafes for 3 years. I could tell you everything about a cybercafe inside out if anyone asks. I know the tricks to earn extra income (other than the usual RM2.50 per hour or selling of food and drinks). My business was a success for a short while, but then the problem occured. Parents of underaged children came calling, threathening me to shut down my business or they will report to authorities.

In my case, would I be better off continuing my job in a cybercafe or starting one myself? You be the judge.
*
Thank you again Mr. Jordy, for replying. I guess I understand what are you trying to convey to me. Setting up a business is never an easy matter. I guess one of the most important element is decision making. Like in my situation, I really do not have the guts to quit my currrent job and jump into operating a business. I guess I'll only dare quit my current job if the business i'm running is very much successul. Actually i'm planning to venture into a business which will cost me at least RM300k in about 3 years time from now. So i have a thinking of, why don't i try to run a little business to gain more knowledge before I venture into a higher capital one. I had considered cyber cafe and computer preipheral shops, but after listening to the feedbacks here in lyn forum, I guess I wont be investing into them. Btw Mr. Jordy, what is the amount of money you would suggest to use in the very first business? As well as, could you please suggest how much money should be prepared as cash flow/roll for it? Also, averagely how much nett profit should a business earn perday if the rental is RM3500 (utilities and salary included)? Also, lets say I use RM50,000 to open a business, how long should am I suppose to get my ROI back (considered it is a sound business)? Sorry Mr. Jordy, I'm aint a MBA or finance student, regreted not taking that course. sad.gif

This post has been edited by liyonglim: Mar 30 2010, 12:13 AM
Jordy
post Mar 30 2010, 09:36 PM

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QUOTE(liyonglim @ Mar 30 2010, 12:05 AM)
Thank you boringz for the reply. I'm doing fine in my current work. I dont plan to quit me current job to open business. What is in my mind is, i plan to do a side business while keeping my current job. I have a fren who are not working, I'm planning to venture a partnership with him. He will look after the business during the day and i will come after my work.

Thank you again Mr. Jordy, for replying. I guess I understand what are you trying to convey to me. Setting up a business is never an easy matter. I guess one of the most important element is decision making. Like in my situation, I really do not have the guts to quit my currrent job and jump into operating a business. I guess I'll only dare quit my current job if the business i'm running is very much successul. Actually i'm planning to venture into a business which will cost me at least RM300k in about 3 years time from now. So i have a thinking of, why don't i try to run a little business to gain more knowledge before I venture into a higher capital one. I had considered cyber cafe and computer preipheral shops, but after listening to the feedbacks here in lyn forum, I guess I wont be investing into them. Btw Mr. Jordy, what is the amount of money you would suggest to use in the very first business? As well as, could you please suggest how much money should be prepared as cash flow/roll for it? Also, averagely how much nett profit should a business earn perday if the rental is RM3500 (utilities and salary included)? Also, lets say I use RM50,000 to open a business, how long should am I suppose to get my ROI back (considered it is a sound business)? Sorry Mr. Jordy, I'm aint a MBA or finance student, regreted not taking that course. sad.gif
*
liyonglim,

If you don't plan to work in your business full-time, then I suggest you to start a low capital business which is easy to manage. The best way for you to start is by looking for a franchise (which requires less or no experience). There is no way to determine how much you should invest on your first business, it all depends on the amount of risk you can take.

As I mentioned in another thread, the amount of rolling cash is different depending on the nature of your business. The time taken to gain your capital back also depends on the nature of your business.
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post Mar 31 2010, 05:53 PM

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QUOTE(liyonglim @ Mar 30 2010, 12:05 AM)
Thank you boringz for the reply. I'm doing fine in my current work. I dont plan to quit me current job to open business. What is in my mind is, i plan to do a side business while keeping my current job. I have a fren who are not working, I'm planning to venture a partnership with him. He will look after the business during the day and i will come after my work.
Thank you again Mr. Jordy, for replying. I guess I understand what are you trying to convey to me. Setting up a business is never an easy matter. I guess one of the most important element is decision making. Like in my situation, I really do not have the guts to quit my currrent job and jump into operating a business. I guess I'll only dare quit my current job if the business i'm running is very much successul. Actually i'm planning to venture into a business which will cost me at least RM300k in about 3 years time from now. So i have a thinking of, why don't i try to run a little business to gain more knowledge before I venture into a higher capital one. I had considered cyber cafe and computer preipheral shops, but after listening to the feedbacks here in lyn forum, I guess I wont be investing into them. Btw Mr. Jordy, what is the amount of money you would suggest to use in the very first business? As well as, could you please suggest how much money should be prepared as cash flow/roll for it? Also, averagely how much nett profit should a business earn perday if the rental is RM3500 (utilities and salary included)? Also, lets say I use RM50,000 to open a business, how long should am I suppose to get my ROI back (considered it is a sound business)? Sorry Mr. Jordy, I'm aint a MBA or finance student, regreted not taking that course. sad.gif
*
Liyonglim,

I was once just like you, want to do business but not sure which to do & don't date to quit my permanent job to do it.

Typically, based on what I gathered from the business community, there are 3 types of people, maybe you can think which type you fall into & then execute it:
1.) Really don't dare to take the big risk, so just start a small business, could be selling stuff or providing some freelance service after office hours.
2.) Go all out, quit their permanent job & dump a big sum of money to start the business & hope for a fast ROI
3.) Business followers (not many around), where it happens in direct selling or multi level marketing. When a company is popular, eg. e-cosway, they all join it & try to make the most out of it, then later when another company is popular, they switch to it.

For the first 2 types, sometimes it may take more than 1 try to get the right business idea.

I fall into the first type. Did not dare to take the big risk of quiting my permanent job & dumping large sum of money.
However, I tried a couple of areas, like selling mobile prepaid reloads, web sites, web applications & IT consultancy, usually service related as it did not require a big investment.
Finally, I still had to make the big decision, I could more or less estimate I could make a few K a month, but I asked, would that be enough to survive or match my permanent job salary?


liyonglim
post Mar 31 2010, 11:32 PM

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QUOTE(gchowyh @ Mar 31 2010, 05:53 PM)
Liyonglim,

I was once just like you, want to do business but not sure which to do & don't date to quit my permanent job to do it.

Typically, based on what I gathered from the business community, there are 3 types of people, maybe you can think which type you fall into & then execute it:
1.) Really don't dare to take the big risk, so just start a small business, could be selling stuff or providing some freelance service after office hours.
2.) Go all out, quit their permanent job & dump a big sum of money to start the business & hope for a fast ROI
3.) Business followers (not many around), where it happens in direct selling or multi level marketing. When a company is popular, eg. e-cosway, they all join it & try to make the most out of it, then later when another company is popular, they switch to it.

For the first 2 types, sometimes it may take more than 1 try to get the right business idea.

I fall into the first type. Did not dare to take the big risk of quiting my permanent job & dumping large sum of money.
However, I tried a couple of areas, like selling mobile prepaid reloads, web sites, web applications & IT consultancy, usually service related as it did not require a big investment.
Finally, I still had to make the big decision, I could more or less estimate I could make a few K a month, but I asked, would that be enough to survive or match my permanent job salary?
*
Dear Mr. Gchowyh, thanks for hearing from you. Needless to say, i fall to the first category. I dont have the guts to quit my current income and i'm not interested in direct sales and mlm, just dunno why.
Btw guys, RM60,000 as initial capital (franchise as suggested by Mr. Jordy), then the montly return is RM1,000. What do you guys comments? Thank you

This post has been edited by liyonglim: Mar 31 2010, 11:33 PM
Jordy
post Apr 1 2010, 12:07 AM

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QUOTE(liyonglim @ Mar 31 2010, 11:32 PM)
Dear Mr. Gchowyh, thanks for hearing from you. Needless to say, i fall to the first category. I dont have the guts to quit my current income and i'm not interested in direct sales and mlm, just dunno why.
Btw guys, RM60,000 as initial capital (franchise as suggested by Mr. Jordy), then the montly return is RM1,000. What do you guys comments? Thank you
*
liyonglim,

That plan doesn't sound like franchise to me. That sounds more like a money game. What business is that?
liyonglim
post Apr 1 2010, 09:36 AM

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QUOTE(Jordy @ Apr 1 2010, 12:07 AM)
liyonglim,

That plan doesn't sound like franchise to me. That sounds more like a money game. What business is that?
*
PM u to explain the business to you
Thank you
Awakened_Angel
post Apr 1 2010, 09:57 AM

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QUOTE(liyonglim @ Apr 1 2010, 10:36 AM)
PM u to explain the business to you
Thank you
*
could you post it in forum instead of forum?


cheers
boringz
post Apr 1 2010, 10:07 AM

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yes yes post in forum instead of PM biggrin.gif
am_eniey
post Apr 1 2010, 11:06 AM

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QUOTE(liyonglim @ Apr 1 2010, 09:36 AM)
PM u to explain the business to you
Thank you
*
This is not a PM section, we all here are not buying anything from PM.
TSedyek
post Apr 1 2010, 03:09 PM

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QUOTE(am_eniey @ Apr 1 2010, 11:06 AM)
This is not a PM section, we all here are not buying anything from PM.
*
Might be a very lucrative business plan, that he doesn't want anyone to know. whistling.gif
liyonglim
post Apr 1 2010, 03:19 PM

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Relax guys, its just a normal business. Is not operating petrol station or cyber cafe business. Furhermore, I also do really hope with RM60k i can have very lucrative business plan as mentioned by edyek. I plan to start up a business with RM60,000 as initial capital. Then i do franchise to help me with stock and management assistant. And the estimated minimum nett profit each month is RM1000.

This post has been edited by liyonglim: Apr 1 2010, 03:20 PM
Awakened_Angel
post Apr 1 2010, 05:43 PM

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QUOTE(liyonglim @ Apr 1 2010, 04:19 PM)
Relax guys, its just a normal business. Is not operating petrol station or cyber cafe business. Furhermore, I also do really hope with RM60k i can have very lucrative business plan as mentioned by edyek. I plan to start up a business with RM60,000 as initial capital. Then i do franchise to help me with stock and management assistant. And the estimated minimum nett profit each month is RM1000.
*
that`s 1.67% per month
TSedyek
post Apr 1 2010, 05:57 PM

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QUOTE(liyonglim @ Apr 1 2010, 03:19 PM)
Relax guys, its just a normal business. Is not operating petrol station or cyber cafe business. Furhermore, I also do really hope with RM60k i can have very lucrative business plan as mentioned by edyek. I plan to start up a business with RM60,000 as initial capital. Then i do franchise to help me with stock and management assistant. And the estimated minimum nett profit each month is RM1000.
*
QUOTE(Awakened_Angel @ Apr 1 2010, 05:43 PM)
that`s 1.67% per month
*
So low? I mean that is way too low for a business. What franchise are you talking about @liyonglim? mind to share?
Jordy
post Apr 1 2010, 08:37 PM

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I believe he has his own reasons not to share his plans in the open, so I hope we could respect that. I have read the PM about his plan, and it is not as what I have expected. I will follow-up with him further through PM since he has asked for confidentiality.
boringz
post Apr 1 2010, 09:35 PM

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wow. only to Jordy. smile.gif

btw, happy april fool's day guys. ^^
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post Apr 2 2010, 01:29 AM

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QUOTE(liyonglim @ Mar 28 2010, 09:41 PM)
Dear Jordy, thanks for replying. But at the moment, I really have no idea on how to study the market and know the market as you mentioned. At the moment, I'm working for a corporate and I have about 100k in my saving now and I'm thinking of generating a better income as I need to settle down into marriage since I'm already 26.
Everyday I had been thinking hard what business i could invest in and i dont want my money to just rot in the savings. As for now, i'm thinking in selling gaming consoles / gaming peripherals. But i have no idea whether this business is profitable or not.
*
Hi,
Completely new here.
My advice is, drag your foot. Don't jump into any business!! Seems to me you have the potential to lose all your savings. Don't seem to me you have the right chemistry to launch your self physically into business. OK, that's only my sixth sense. You could be more suited to do something else in my judgment.

I left this country 30 years ago, and haven't been back since 12 years ago - could be wrong but most unlikely.

SeeD
post Apr 2 2010, 08:25 AM

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QUOTE(2222fx @ Apr 2 2010, 01:29 AM)
Hi,
Completely new here.
My advice is,  drag your foot. Don't jump into any business!! Seems to me you have the potential to lose all your savings. Don't seem to me you have the right chemistry to launch your self physically into business. OK, that's only my sixth sense. You could be more suited to do something else in my judgment. 

I left this country 30 years ago, and haven't been back since 12 years ago - could be wrong but most unlikely.
*
Keep negative thoughts to yourself mate.
boringz
post Apr 2 2010, 02:41 PM

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2222fx,

As someone who is a Malaysian but born in Singapore with Singapore PR, and now back to Malaysia for further studies and 'work' (decision made by my Dad),

and frankly that I am a critic to both sides of the causeway, I am very neutral,

Malaysia has potential to grow. Big potential. Just takes time.

Look at China, and look at US. If you understand what I'm trying to imply, you will know what I mean.
2222fx
post Apr 2 2010, 03:16 PM

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QUOTE(SeeD @ Apr 2 2010, 09:25 AM)
Keep negative thoughts to yourself mate.
*
Well, let the person I replied to make the decision.
It's an advice. Not a negative thought.
If you want to invest in a business, and not physically putting yourself in it, that is not favorable.
If you risk 60k to 100k in it and receive less than 2% in return per month, I would rather try something else.

I am talking from mine experience. I started my own business from scratch, and brought it to a turnover of 9 digits per year in RM

If you want something to succeed, you need to put full concentration.


liyonglim
post Apr 2 2010, 03:17 PM

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QUOTE(2222fx @ Apr 2 2010, 01:29 AM)
Hi,
Completely new here.
My advice is,  drag your foot. Don't jump into any business!! Seems to me you have the potential to lose all your savings. Don't seem to me you have the right chemistry to launch your self physically into business. OK, that's only my sixth sense. You could be more suited to do something else in my judgment. 

I left this country 30 years ago, and haven't been back since 12 years ago - could be wrong but most unlikely.
*
Thank for the advise 2222fx. But sometimes i do believe, if we are interested to have a business ourselves, we HAVE to start from somewhere right? We actually can't avoid and don't take risk everytime, I guess we should learn how to manage the risk involved. Moreover, in order to excel in a field, definitely required hard work, up and down and most importantly a learning process is always required.
Also to be honest, I also know that the profit percentage is kinda low, but what can i do. There is some business can get more % profit but that business field i'm not specialized with. Some field can get high % profit but the risk is higher. Sometimes, its very difficult to get a perfect business to invest in. Or do you have a suggestion please?

Anyway, no hard feelings, also thanks for dropping by a reply here too. Thank you

This post has been edited by liyonglim: Apr 2 2010, 03:20 PM
2222fx
post Apr 2 2010, 03:53 PM

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QUOTE(boringz @ Apr 2 2010, 03:41 PM)
2222fx,

As someone who is a Malaysian but born in Singapore with Singapore PR, and now back to Malaysia for further studies and 'work' (decision made by my Dad),

and frankly that I am a critic to both sides of the causeway, I am very neutral,

Malaysia has potential to grow. Big potential. Just takes time.

Look at China, and look at US. If you understand what I'm trying to imply, you will know what I mean.
*
Opportunities are EVERYWHERE. It does not matter in which country one is. it depends on the eye and sense of an investor. One can also make money at the worst time and at the worst place. Many people made millions right in the middle of Hitler's war, many lost everything.

I will explain the meaning of "eye" with an example of a successful trader I know. He watches 12 screens. He can at one glance give you a decision whether to reject a trade or not. On entering a trade, he takes a bit longer to first calculate the risk factor.

Just like some here who are now professionals in their fields, they have an "eye " whether one's plan for a laundry business is a no goer or not or what is missing. The wider one's scope of business is developed, the more likely one can spot opportunities.

Going into any business has risks. Having an exit plan is important to avoid a total disaster.




Added on April 2, 2010, 4:26 pm
QUOTE(liyonglim @ Apr 2 2010, 04:17 PM)
Thank for the advise 2222fx. But sometimes i do believe, if we are interested to have a business ourselves, we HAVE to start from somewhere right? We actually can't avoid and don't take risk everytime, I guess we should learn how to manage the risk involved. Moreover, in order to excel in a field, definitely required hard work, up and down and most importantly a learning process is always required.
Also to be honest, I also know that the profit percentage is kinda low, but what can i do. There is some business can get more % profit but that business field i'm not specialized with. Some field can get high % profit but the risk is higher. Sometimes, its very difficult to get a perfect business to invest in. Or do you have a suggestion please?

Anyway, no hard feelings, also thanks for dropping by a reply here too. Thank you
*
From what I read, you already have a good job. You mention about marriage - if that is your immediate direction, DON'T GO INTO ANY BUSINESS. Running your own business is VERY time consuming, especially in the beginning. Once after marriage, you have to consider if your spouse is with you in the business or not. Western way of life is creeping into big Asian cities. Can your relationship stand the stress or not - before and after marriage.
I started my business venture early in life with no relationships attached. So, I had one less worry. Later when my business grew to 7 digits RM / year ( I was married then ) I was at the limit. I had no close family here like I would have in Malaysia. When my business reached 9 digits RM per year, my marriage was cracking.
When you run a business, YOU ALWAYS HAVE TO GROW. If you remain stagnant, your competitors will run you down sooner or later.
Take time to think about it first before you leap. Consider also the need to do a business or the want to do a business. The need to do business means you have cash and under peer pressure or whatever etc pushing you to do it - not a joy in a sense.

Have to make a pause here - I will answer your other question above in next post.


Added on April 2, 2010, 5:41 pmYes - if we want to expand our income, we have to start somewhere.
My opinion is that since you have already a good job ( since you can accumulate 100k ) this chemistry is best suited to keep it's value or grow what you already have. If you have X amount of money, that value keeps losing due to inflation, fortune tax etc. So, think of a way to best place it. In a business, you could risk losing it all - if you have no experience.
Better look into investment directions where you can limit your risk, say, from 1% to 3% of your capital ( limiting your risk to max RM3000.- ) Something like that could allow you to keep your job and still have a "life" beside. Every profession need training time - doctor, 5 years !!
Don't jump in at the first instant. What is quick and fast, say less than 6 months, let the word SCAM cross your brain !! Before you transfer anything related to cash, ask your banker for an opinion. Today with the internet, you don't always need to pay to learn something. Whoever you are dealing with, never part your cash to him/her unless your banker gives you a nod, and try not to risk more than 3% of what you have, especially in the early stage. I can give you further pointer if you wish.


Added on April 2, 2010, 6:16 pmFor business ideas, that is my present business/hobby.
I have literally stopped working. I want to live a "life" . For an ex workoholic, it is almost impossible to stop working completely. Thus I spend time keeping the value of what I have from diminishing. Hedge it in the market to maintain it's value. To past time, I do a bit of financial consultant work - mostly unpaid. Like helping ex drug addicts to restart life - example running a small business or odd jobs offer. Having extra free time, I sometimes act in European cinema movies - not as main star. Just rare appearances and background personage.in a film. I won't put any link here, but if interested, I can PM.

So, let's get back to business idea if you wish to make a leap.
I know of many vegetables sellers in Malaysia driving to Kampongs and villages to sell their fresh vege in the morning. Now try expanding that idea.

Try getting first good suppliers. Not vegetables, but rice, sugar etc etc.. Your super market on wheels. Get a small diesel truck or van, as big as you can afford. If you have to, do some deals or partnership with a bigger supermarket. Put as much vital popular stuff, non perishable if possible, in your truck, or van. Locate in a map where there are clusters of kampongs. In each kampongs, have a fixed day of the week and hour to be there. In each kampong you stay no more than say 2 hours. Display your goods and sell then move on to next kampong. Plan your routes. It does not take a long time before the villagers will know you and become your regular customers. Have variety of goods and let your email or telephone printed clearly somewhere. People can call you for extra quantity and if needed order stuff that is not in your assortment. It could be hardware or ANYTHING. Some suppliers would give you credit for the goods and payment within 2 days to a week. So, even the starting capital could be reduced. Try to negotiate that for goods not sold, you can return and exchange for other goods.
Have the possibility to call back and negotiate the price. If you can do a good job negotiating good purchasing prices, you have a big way to go.

Once you start getting big, then hire people to drive - expand the number of trucks / vans. In no time, you can be running it, just sitting in an office. The bigger you grow, the cheaper you can purchase. That way, you can compete more effectively. People will copy. That's why you have to keep growing. In variety and prices.

This post has been edited by 2222fx: Apr 2 2010, 07:07 PM
Conroe
post Apr 4 2010, 05:00 AM

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From: dIHaDaPaN KoMpUtEr



Hi,

I got RM50k of my saving and intend to start a small business.I'm willing to do full time.Currently i got some skills in repairing mobile phones and i got source for spare parts locally.In my town perak,there is handphone shops that do selling,trade-in and repairing like usual phone shop and i'm skeptical if i could go thru.My concept are selling variety of used phones,reloads and wide range of spare parts of mostly all major handphones brands including china-made phones.No new phones!I won't sell spare parts but i'll do repairing/replacement of faulty parts.I've planned this for some time but 50-50 in venturing in it.Nowdays there's handphone shops almost every corner of barrack and i'm skeptical if i'll made thru.In future,i could order spare parts directly from manufacturer since i knew some way to get it with cheap price than local.I'm not a graduate or person with high academic,currently working as a technician in computer shop with so n so salary and got some health problem(spine/central nerves) that limit me from moving/walking around so i guess i should do something now for my future.Pls advise.

This post has been edited by Conroe: Apr 4 2010, 05:05 AM
Ern3st
post Apr 4 2010, 09:45 AM

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QUOTE(Conroe @ Apr 4 2010, 05:00 AM)
Hi,

I got RM50k of my saving and intend to start a small business.I'm willing to do full time.Currently i got some skills in repairing mobile phones and i got source for spare parts locally.In my town perak,there is handphone shops that do selling,trade-in and repairing like usual phone shop and i'm skeptical if i could go thru.My concept are selling variety of used phones,reloads and wide range of spare parts of mostly all major handphones brands including china-made phones.No new phones!I won't sell spare parts but i'll do repairing/replacement of faulty parts.I've planned this for some time but 50-50 in venturing in it.Nowdays there's handphone shops almost every corner of barrack and i'm skeptical if i'll made thru.In future,i could order spare parts directly from manufacturer since i knew some way to get it with cheap price than local.I'm not a graduate or person with high academic,currently working as a technician in computer shop with so n so salary and got some health problem(spine/central nerves) that limit me from moving/walking around so i guess i should do something now for my future.Pls advise.
*
I suggest you read a book called " Blue Ocean Strategy (南海策略)" from W.Chan Kim and Renee Mauborgne. It is easily to understand real example. Basically you won't get any brilliant idea as most of them were not able to get a brilliant idea for them self as just follow what people do. Even you may not be able to create a blue ocean business after you read it since you have no any based on business but i believe you will at least able to analyze more detail on your handphone business or computer business.

As you say every corner of there is having hand phone shops and you got no idea even you're experienced in such industry, so do you expect what so called pro from another industry to give you a good advice. It is only reliable if your question is how to manage.

http://www.blueoceanstrategy.com/boo/book.html

Is look like this and you can get it in pasar malam if you buy it cheap.

I believe you will not to have a big problem on learning how to manage if you got a good idea on business. Hope this may helps and thanks.
Conroe
post Apr 4 2010, 03:02 PM

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From: dIHaDaPaN KoMpUtEr



QUOTE(Ern3st @ Apr 4 2010, 09:45 AM)
I suggest you read a book called " Blue Ocean Strategy (南海策略)" from W.Chan Kim and Renee Mauborgne. It is easily to understand real example. Basically you won't get any brilliant idea as most of them were not able to get a brilliant idea for them self as just follow what people do. Even you may not be able to create a blue ocean business after you read it since you have no any based on business but i believe you will at least able to analyze more detail on your handphone business or computer business.

As you say every corner of there is having hand phone shops and you got no idea even you're experienced in such industry, so do you expect what so called pro from another industry to give you a good advice. It is only reliable if your question is how to manage.

http://www.blueoceanstrategy.com/boo/book.html

Is look like this and you can get it in pasar malam if you buy it cheap.

I believe you will not to have a big problem on learning how to manage if you got a good idea on business. Hope this may helps and thanks.
*
Thanks for the suggestion.I'll try to get the book. nod.gif

Any other input are welcomed.I got the skill but since there's alot of competitors,i worry if i'll burn all my saving/capital and end up the business closed.

This post has been edited by Conroe: Apr 4 2010, 03:03 PM
SheepMekk
post Apr 6 2010, 02:35 PM

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Hi smile.gif First of all, thank you for this thread and everyone else that contributed. Very helpful, inspiring and motivating indeed

I'm still a diploma student and would like to gain experience while studying rolleyes.gif

Please avoid advising me to finish my studies before doing anything(especially making money) as I don't believe academics is everything. Respect is still there if you insist on lecturing smile.gif

QUOTE(edyek @ Mar 28 2010, 11:09 AM)
If you insist in doing business, I will list down the things that you can do:
1) Small trading. Buying and selling of items. (Shoes, slippers, towels, bags, etc.) These are everyones items, and if you tend to sell these stuff, do make a niche out of it.
2) Online business. Ebay? Lelong.com?
3) Blogging. If you are a good author.
4) Do some contract works. (Cutting grass, painting, general cleaning etc.) These job require only small machinery/equipment to start off.
5) Be an agent/broker/introducer for small agency. (Travel agency) Find a group of family and friends who wants to go for a holiday trip, and you pass it to your travel agency to arrange the trip with your commission in it.
6) The list goes on and on.... You just got to go out and look for it, and come out with something better.
*
edyek advised cottonkandy about this earlier and of course, interesting.

But of course questions kept me away from starting. Please bare with my basic questions as I have 0 experience
1. Where and how could I get the supply from? Regardless products(Based on point 1)
2. I've never tried B2B business before. How is it like? Quite interested in this part smile.gif

There are other questions too, but of course I would like to try first smile.gif
TSedyek
post Apr 10 2010, 09:51 AM

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QUOTE(Conroe @ Apr 4 2010, 05:00 AM)
Hi,

I got RM50k of my saving and intend to start a small business.I'm willing to do full time.Currently i got some skills in repairing mobile phones and i got source for spare parts locally.In my town perak,there is handphone shops that do selling,trade-in and repairing like usual phone shop and i'm skeptical if i could go thru.My concept are selling variety of used phones,reloads and wide range of spare parts of mostly all major handphones brands including china-made phones.No new phones!I won't sell spare parts but i'll do repairing/replacement of faulty parts.I've planned this for some time but 50-50 in venturing in it.Nowdays there's handphone shops almost every corner of barrack and i'm skeptical if i'll made thru.In future,i could order spare parts directly from manufacturer since i knew some way to get it with cheap price than local.I'm not a graduate or person with high academic,currently working as a technician in computer shop with so n so salary and got some health problem(spine/central nerves) that limit me from moving/walking around so i guess i should do something now for my future.Pls advise.
*
Handphone shop is just like computer services and accessories shop. Too many competitors. Should think of something else to do, or do it bigger with what you are doing now.

QUOTE(SheepMekk @ Apr 6 2010, 02:35 PM)
edyek advised cottonkandy about this earlier and of course, interesting.

But of course questions kept me away from starting. Please bare with my basic questions as I have 0 experience
1. Where and how could I get the supply from? Regardless products(Based on point 1)
2. I've never tried B2B business before. How is it like? Quite interested in this part smile.gif

*
1. Search for suppliers. Yellowbooks? Newspaper ads? Internet?

2. Go and try it, then you will know how it is like.
DailyPerfume
post Apr 14 2010, 04:30 PM

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What other business do you think it's good for online and retail base? I currently own an online perfume business. But i'm planning to start another business with my friend to generate small income monthly. Any suggestion guys? Thanks biggrin.gif
Chung80
post Apr 15 2010, 01:02 AM

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QUOTE(Ern3st @ Apr 4 2010, 09:45 AM)
I suggest you read a book called " Blue Ocean Strategy (南海策略)" from W.Chan Kim and Renee Mauborgne. It is easily to understand real example. Basically you won't get any brilliant idea as most of them were not able to get a brilliant idea for them self as just follow what people do. Even you may not be able to create a blue ocean business after you read it since you have no any based on business but i believe you will at least able to analyze more detail on your handphone business or computer business.

As you say every corner of there is having hand phone shops and you got no idea even you're experienced in such industry, so do you expect what so called pro from another industry to give you a good advice. It is only reliable if your question is how to manage.

http://www.blueoceanstrategy.com/boo/book.html

Is look like this and you can get it in pasar malam if you buy it cheap.

I believe you will not to have a big problem on learning how to manage if you got a good idea on business. Hope this may helps and thanks.
*
" Blue Ocean Strategy (南海策略)" is a great book that you must read!

------------
**Learn 17 ways to make $ on property investment by Millionaire Property Investor Milan Doshi**

**Discover the Crude Oil Trading, Gold Trading and Currency Trading through Basic Trading Class**
Wingz33
post Apr 15 2010, 10:26 PM

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I keep watching this thread and the first posted were the best and i decided to read it till the end of this pages. Well , I'm a person who hardworking and always find the chances to business and grow to be a successful person. Hopefully now my first step , the rest coming.. biggrin.gif .. "EDYEK" , In fact, You're a business man and it is a next generation of your "daddy" as you mentioned the first page. biggrin.gif .. Well, Keep it up, Properties are the good investment.. Thanks for sharing about it .. Mind to share how old are you since you have such a fast and huge experiences biggrin.gif ..
TSedyek
post Apr 17 2010, 09:08 AM

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QUOTE(DailyPerfume @ Apr 14 2010, 04:30 PM)
What other business do you think it's good for online and retail base? I currently own an online perfume business. But i'm planning to start another business with my friend to generate small income monthly. Any suggestion guys? Thanks biggrin.gif
*
What have you plan to startup another? We can give comments about it.

CKC (Sense-Maker)
post Apr 18 2010, 01:08 AM

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Hi:

Would anyone be willing to shed some lights on viability and profitability of the following biz based on the average performance (i.e weeding out top and worst outlets)?:
1) Petrol station
2) Cosway Franchise
3) Frozen seafood biz

Thanks.
JustBlank
post Apr 18 2010, 02:22 PM

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I wanna ask for your advice.

My family runs a shop selling toiletry products at kl.
We found a reliable supplier in Philippines who can supply this range of product to us. Their price and product quality are good.

But funny thing is, they dont help us to ship our orders from Philippines to here, Malaysia. They said they dont want to bear the risk of shipping. Walau wei, they sell but they dont deliver.

How ar ? please advice on how to ship our goods from there to here in malaysia.

Many thanks.
cozeyzero
post Apr 18 2010, 03:12 PM

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to every old-timer in business,i want to ask about something.

do we need to hav lisence if we want to make a profitable website like mudah.my? i dont know how it works. but if i want to do exact website like mudah,do i need any lisence?
Kelvinatorz
post Apr 18 2010, 03:31 PM

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I assume they afraid of pirates
cozeyzero
post Apr 19 2010, 05:08 AM

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QUOTE(Kelvinatorz @ Apr 18 2010, 03:31 PM)
I assume they afraid of pirates
*
and if they do...so?
POYOZER
post Apr 20 2010, 04:25 PM

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QUOTE(Ern3st @ Apr 4 2010, 09:45 AM)
I suggest you read a book called " Blue Ocean Strategy (南海策略)" from W.Chan Kim and Renee Mauborgne. It is easily to understand real example. Basically you won't get any brilliant idea as most of them were not able to get a brilliant idea for them self as just follow what people do. Even you may not be able to create a blue ocean business after you read it since you have no any based on business but i believe you will at least able to analyze more detail on your handphone business or computer business.

http://www.blueoceanstrategy.com/boo/book.html

*
How much is the book?


QUOTE(DailyPerfume @ Apr 14 2010, 04:30 PM)
What other business do you think it's good for online and retail base? I currently own an online perfume business. But i'm planning to start another business with my friend to generate small income monthly. Any suggestion guys? Thanks biggrin.gif
*
I think it is not a good idea to ask for business idea in this thread. If we have a good idea, we will already execute it before you.

For me, the best way is you share what you have in your mind. Then we will give you some opinions. It is much better because we can focus on the case that you needed rather than we discuss it blindly because business topics are too wide.

smile.gif

This post has been edited by POYOZER: Apr 20 2010, 04:33 PM
cozeyzero
post Apr 20 2010, 09:54 PM

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QUOTE(POYOZER @ Apr 20 2010, 04:25 PM)
How much is the book?
I think it is not a good idea to ask for business idea in this thread. If we have a good idea, we will already execute it before you.

For me, the best way is you share what you have in your mind. Then we will give you some opinions. It is much better because we can focus on the case that you needed rather than we discuss it blindly because business topics are too wide.

smile.gif
*
i agree about not discussing the business idea in here. but to be honest,i dont agree about u saying u will already execute it before someone else. roughly said,many ppl got some very good business idea but den don have any money to execute it.some who hav money n idea,don feel reali confident cuz nobody wan to support dem.i got few friends now who support my idea and now i am aiming on something.i dont know how it will goes but ppl who failed,dey never try.
POYOZER
post Apr 20 2010, 11:22 PM

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‘Will’ in my sentence stand for most probably. I totally agree with you about some already have a brilliant ideas, just not enough money or confident to start.

additional info about my previous post .....................

What I am trying to say in my previous post is better to ask question that make sense so we can give some advice. Asking business idea is ok as long he give more details than asking blindly.

OK..

Eg 1. Hey, I got RM50k. I am planning to start a laundry shop. Can I have some ideas about the location and the supplier?

Eg 2. Hey forumers, I got RM50k for starting capital. Is it enough for me to start a small coffee shop in Subang Jaya?

Eg 4. My cybercafé shop is making loss since early of this year. Do you guys have any idea how to fix this problem?

Eg 5. I got RM100k. But I don’t know what to do with my money. Do you have any suggestion to start a business with that capital?
* Why this question is acceptable because at least he already mentioned about his budget. So the topic already narrowed down. From there easier for forumers to give some suggestion about what business he can do with his budget.

Instead of...

Eg 6. Hey guys, I am still a student. I am planning to get some extra pocket money. Is there any business suitable for me?
* Why this question is unacceptable because he didn’t even know what he is looking for. What in his mind only think how to make money. He is not even telling his budget. Some students have less budget and some have a big budget because it is depend on the family background too. If he has a big budget, then he can do a bigger business.

For Eg 6, it is not much different with this kind of question
Hey guys. I just finished my SPM last year. Which university can I go?
* How can we answer this question?

This post has been edited by POYOZER: Apr 20 2010, 11:49 PM
boringz
post Apr 22 2010, 03:10 PM

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JustBlank, just PM'ed you.
cozeyzero
post Apr 23 2010, 05:16 AM

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QUOTE(POYOZER @ Apr 20 2010, 11:22 PM)
‘Will’ in my sentence stand for most probably. I totally agree with you about some already have a brilliant ideas, just not enough money or confident to start.

additional info about my previous post .....................

What I am trying to say in my previous post is better to ask question that make sense so we can give some advice. Asking business idea is ok as long he give more details than asking blindly.

OK..

Eg 1. Hey, I got RM50k. I am planning to start a laundry shop. Can I have some ideas about the location and the supplier?

Eg 2. Hey forumers, I got RM50k for starting capital. Is it enough for me to start a small coffee shop in Subang Jaya?

Eg 4. My cybercafé shop is making loss since early of this year. Do you guys have any idea how to fix this problem?

Eg 5. I got RM100k. But I don’t know what to do with my money. Do you have any suggestion to start a business with that capital?
* Why this question is acceptable because at least he already mentioned about his budget. So the topic already narrowed down. From there easier for forumers to give some suggestion about what business he can do with his budget.

Instead of...

Eg 6. Hey guys, I am still a student. I am planning to get some extra pocket money. Is there any business suitable for me?
* Why this question is unacceptable because he didn’t even know what he is looking for. What in his mind only think how to make money. He is not even telling his budget. Some students have less budget and some have a big budget because it is depend on the family background too. If he has a big budget, then he can do a bigger business.

For Eg 6, it is not much different with this kind of question
Hey guys. I just finished my SPM last year. Which university can I go?
* How can we answer this question?
*
i like ur way of thinking.i am a fan of ppl who explain n include examples. cheers! i agree wit everything u say.pls take note from wat he say.its absolutely true.its no point if u guys keep asking for business idea but dont even know what u want actually.


Added on April 23, 2010, 5:17 am
QUOTE(SheepMekk @ Apr 6 2010, 02:35 PM)
Hi smile.gif First of all, thank you for this thread and everyone else that contributed. Very helpful, inspiring and motivating indeed

I'm still a diploma student and would like to gain experience while studying  rolleyes.gif

Please avoid advising me to finish my studies before doing anything(especially making money) as I don't believe academics is everything. Respect is still there if you insist on lecturing smile.gif
edyek advised cottonkandy about this earlier and of course, interesting.

But of course questions kept me away from starting. Please bare with my basic questions as I have 0 experience
1. Where and how could I get the supply from? Regardless products(Based on point 1)
2. I've never tried B2B business before. How is it like? Quite interested in this part smile.gif

There are other questions too, but of course I would like to try first smile.gif
*
if u ask me,i am goin to say..

go try tradezone at lowyat.try to gain bisnes exp by trading there.or simply read the thread there.u can know how ppl interact to do business n what important etc etc etc.

This post has been edited by cozeyzero: Apr 23 2010, 05:17 AM
riskbreaker
post Jun 2 2010, 02:31 PM

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it is a good thread, thanks for sharing....support u.

hope others ppl also can contribute...
Dr.ice
post Jun 5 2010, 08:39 PM

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i would like to see this thread come back to life ... anymore Entrepreneurs out there ???
jo731
post Jun 6 2010, 06:32 PM

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Any entrepreneurs interested to start their business ?
sohakyee
post Jun 6 2010, 07:29 PM

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Good job mate,

Well let me share my small biz experiences;

1. Car rental
Capital : 7k
a. Car itself = 6k
b. Repairing and stuff = 1k
Services: Very subjective, mine has taken up 3k for 3 years.
Location : Inside university
Monthly/Yearly Income : Average 500/month, 5k/year
Duration : Manage it for 3 years and plan to sell it off soon (I've just graduated rclxms.gif )
Opinion : Extra pocket money and after all provide me a free transportation smile.gif

2. Food Trader
Capital : Own transportation needed
a. Collect order and buy from the restaurant and sell to student
Location : Inside university
Monthly/Yearly Income : Earn some profit margin each pack, earn up to 500/month, 5k/year
Duration : 1 year
Opinion : Very time consuming and decided to stop after doing car rental service smile.gif

3. Book Trader
Capital : 0
a. Buy from senior and sell to junior
Location : Inside university
Monthly/Yearly Income : Earn some profit margin each book, earn up to 1k/year
Duration : 1 year
Opinion : Very time consuming and decided to stop after 1 year of doing it smile.gif

4. Phone Accessories Trader (Failure)
Capital : 0 (My parents own the shop)
a. Collect order and buy from parent and sell in uni.
Location : Inside university
Monthly/Yearly Income : Earn some profit margin
Duration : half year
Opinion : Very less customer sad.gif (lack of advertisement and quite busy in uni too)

And now I graduated as an engineer in first class honours and decided to join big companies if they want me.. Many have rejected me mad.gif

As for now I have some capital burst up from the previous biz and education loan tongue.gif and is planning to open some other biz or I would just wait to work as an engineer profession to burst up more of my capital hmm.gif

TSedyek
post Jun 7 2010, 12:04 PM

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QUOTE(sohakyee @ Jun 6 2010, 07:29 PM)
And now I graduated as an engineer in first class honours and decided to join big companies if they want me.. Many have rejected me  mad.gif

As for now I have some capital burst up from the previous biz and education loan  tongue.gif and is planning to open some other biz or I would just wait to work as an engineer profession to burst up more of my capital  hmm.gif
*
Save the money your earn from your uni.

Go and get yourself employed first. Then after working for a few years, you can decide whether to cont your work or startup a business.

Being an engineer is a good profession. Sometimes being a professional is better than being a business man. I've several engineer friends who gets wealthy. I've no profession in hand, if I have, I would like to become an architect.
sohakyee
post Jun 7 2010, 12:15 PM

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QUOTE(edyek @ Jun 7 2010, 12:04 PM)
Being an engineer is a good profession. Sometimes being a professional is better than being a business man. I've several engineer friends who gets wealthy. I've no profession in hand, if I have, I would like to become an architect.
*
Yeap totally agreed.
Having a profession is better than working in small business, unless when we have a bigger capital to run a big business then it would better than working for others.

I was planning to invest in property for renting maybe while working as an engineer.
And am wondering how to get bank loan approval for no pay slip blink.gif
TSedyek
post Jun 7 2010, 06:50 PM

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QUOTE(sohakyee @ Jun 7 2010, 12:15 PM)
Yeap totally agreed.
Having a profession is better than working in small business, unless when we have a bigger capital to run a big business then it would better than working for others.

I was planning to invest in property for renting maybe while working as an engineer.
And am wondering how to get bank loan approval for no pay slip  blink.gif
*
Work for 3 months and get your payslip. What's the rush. Your starting salary should have 2.5k-3k. More than enough to invest in a low/medium cost property.
sohakyee
post Jun 7 2010, 07:53 PM

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QUOTE(edyek @ Jun 7 2010, 06:50 PM)
Work for 3 months and get your payslip. What's the rush. Your starting salary should have 2.5k-3k. More than enough to invest in a low/medium cost property.
*
That's true, well besides housing property, I still need to buy a used car (current car breaking down soon) worth 60k. And if i were planning to put a large down payment, there goes my capital sad.gif Am planning to take 5 years loan and after that I should be able to invest in housing property, I am not sure if this is this the proper way blink.gif
TSedyek
post Jun 8 2010, 05:50 PM

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QUOTE(sohakyee @ Jun 7 2010, 07:53 PM)
That's true, well besides housing property, I still need to buy a used car (current car breaking down soon) worth 60k. And if i were planning to put a large down payment, there goes my capital  sad.gif Am planning to take 5 years loan and after that I should be able to invest in housing property, I am not sure if this is this the proper way  blink.gif
*
Raise your question here. You will get some helpful answers here.

http://forum.lowyat.net/topic/368156/+2180

smile.gif
sohakyee
post Jun 8 2010, 10:47 PM

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QUOTE(edyek @ Jun 8 2010, 05:50 PM)
Raise your question here. You will get some helpful answers here.

http://forum.lowyat.net/topic/368156/+2180

smile.gif
*
Thanks buddy, posted there, do come and share smile.gif
cottonkandy
post Jun 21 2010, 07:02 PM

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wanna ask if anyone doing online business, how do you manage to get your supply? or you just call the company straight? sorry i have no experience.
Jordy
post Jun 21 2010, 07:22 PM

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QUOTE(cottonkandy @ Jun 21 2010, 07:02 PM)
wanna ask if anyone doing online business, how do you manage to get your supply? or you just call the company straight? sorry i have no experience.
*
cottonkandy,

Most of the online sellers are doing trading, which means they buy the goods off for a discount and sell them for market price. You can do that from any small businesses when you buy in bulk. You just have to talk terms with the shop owners. Very few online sellers have access to the large distributors.
boringz
post Jun 29 2010, 09:05 AM

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Hows everyone's business? smile.gif Long time never chat here...
TSedyek
post Jun 29 2010, 02:56 PM

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QUOTE(boringz @ Jun 29 2010, 09:05 AM)
Hows everyone's business? smile.gif Long time never chat here...
*
I'm good with mine. smile.gif
boringz
post Jun 30 2010, 02:50 PM

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Good good! Work sucks! haha
Awakened_Angel
post Jul 1 2010, 12:54 PM

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today I learned a thing that TVB drama mak tai song say one

equal mutual deal
boringz
post Jul 1 2010, 01:38 PM

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means?
TSedyek
post Jul 1 2010, 02:59 PM

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QUOTE(Awakened_Angel @ Jul 1 2010, 12:54 PM)
today I learned a thing that TVB drama mak tai song  say one

equal mutual deal
*
Nice word from mak tai song. And nice TVB drama also.

QUOTE(boringz @ Jul 1 2010, 01:38 PM)
means?
*
Equal price of your offer with the person you are dealing.

boringz
post Jul 1 2010, 03:12 PM

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too complicated. haha. dont understand direct translation hehe. (sry ah my cantonese nt good...)
hamster9
post Jul 1 2010, 04:59 PM

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here's mine


1. cybercafe
Capital : 15k
Partner : 1
Location : Klang, in a small malay kampung
Monthly/Daily Income : 100 per day ++ with only 4PCs, later expanded to 8PC and lastly 15PC
Workers : nil. myself
Duration : 2 years then sold off with a profit

2. PS2 shop
Capital : less than 5k (since incorporated into the cybercafe)
Daily Income : 100 per day ++
workers : 1
Duration: 1 year (sold together with the cc)

3. cybercafe
capital : 50k
partner : 2
location: puchong, inside condo
montly/daily income: 300+ per day with 10 pcs (mainly due to printing)
worker : 1
duration : more than 3 years and still running
note: this is the only cybercafe, believe it or not that could survive without games or even online games coz main customers are foreigners who needs only a webcam and IM. Looking for buyer at the moment since I no longer stay in the condo and dun really have time for it because of my prawn shop. but still taking my own sweet time into selling it off.

4. tiger prawn fishing shop
capital : 15k
partner : 2
location: shah alam
daily income : rm600+ per day
worker : myself
duration: less than 2 months and still running


boringz
post Jul 1 2010, 05:07 PM

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I do see many cybercafe biz owners around here huh.
hamster9
post Jul 1 2010, 08:10 PM

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QUOTE(boringz @ Jul 1 2010, 05:07 PM)
I do see many cybercafe biz owners around here huh.
*
namely because we spend most of our time online as well... tongue.gif
Awakened_Angel
post Jul 1 2010, 10:30 PM

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QUOTE(boringz @ Jul 1 2010, 02:38 PM)
means?
*
it is "peng tang gau ouen"


Added on July 1, 2010, 10:32 pm
QUOTE(edyek @ Jul 1 2010, 03:59 PM)

Equal price of your offer with the person you are dealing.
*
I would substitute the word price with VALUE smile.gif

This post has been edited by Awakened_Angel: Jul 1 2010, 10:32 PM
boringz
post Jul 1 2010, 11:02 PM

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i start to get it angel.. hehe. finally understand.
aserap
post Jul 2 2010, 02:51 PM

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hello all...

i am planning to open a medium business.
im still thinking about what type of business should i start that have high demand in the market.

I have a budget around 100k.
My target place is around Selangor , Perak , and P.pinang
boringz
post Jul 2 2010, 03:04 PM

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Medium business means?


Added on July 2, 2010, 3:05 pm
QUOTE(hamster9 @ Jul 1 2010, 08:10 PM)
namely because we spend most of our time online as well... tongue.gif
*
True true tongue.gif

It's an interesting biz for places with little internet services around smile.gif

This post has been edited by boringz: Jul 2 2010, 03:05 PM
TSedyek
post Jul 2 2010, 03:48 PM

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QUOTE(aserap @ Jul 2 2010, 02:51 PM)
hello all...

i am planning to open a medium business.
im still thinking about what type of business should i start that have high demand in the market.

I have a budget around 100k.
My target place is around Selangor , Perak , and P.pinang
*
What's in your planning? You do have an idea what you want to do right?
Awakened_Angel
post Jul 2 2010, 03:49 PM

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QUOTE(boringz @ Jul 2 2010, 12:02 AM)
i start to get it angel.. hehe. finally understand.
*
I think the wisest thing that mak tai song did is bring his disciple to market and teach him one lesson....

there are no free meal and all businessman are "gan xiong" tongue.gif

yeah... you, you, you and me are all gan xiong icon_idea.gif
boringz
post Jul 2 2010, 04:02 PM

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is mak tai song the show about 1 very smart guy?
Awakened_Angel
post Jul 2 2010, 05:20 PM

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QUOTE(boringz @ Jul 2 2010, 05:02 PM)
is mak tai song the show about 1 very smart guy?
*
http://upload.wikimedia.org/wikipedia/en/d...u%27reHired.jpg


Added on July 2, 2010, 5:23 pmfor me laa... one golden rule in business is like stone cold said

DTA

don trust anyone.... well, 100% tongue.gif


Added on July 2, 2010, 5:26 pm
QUOTE(aserap @ Jul 2 2010, 03:51 PM)
hello all...

i am planning to open a medium business.
im still thinking about what type of business should i start that have high demand in the market.

I have a budget around 100k.
My target place is around Selangor , Perak , and P.pinang
*
I am planning of having a side income from business... cant think of any............. blush.gif

This post has been edited by Awakened_Angel: Jul 2 2010, 05:26 PM
boringz
post Jul 2 2010, 05:27 PM

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oh this 1......! hehe.. saw my gf watch b4... tongue.gif

im on the contrary. trust is required in business. esp. in my line.

the trick is always to have a sense of doubt. don't trust fully. smile.gif
aserap
post Jul 2 2010, 05:41 PM

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QUOTE(edyek @ Jul 2 2010, 03:48 PM)
What's in your planning? You do have an idea what you want to do right?
*
at first planning to open a cafe or sumthing. western or mix will do.
If there anythng that hav hgh demand maybe consider to change my plan.


Awakened_Angel
post Jul 2 2010, 05:52 PM

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QUOTE(boringz @ Jul 2 2010, 06:27 PM)
oh this 1......! hehe.. saw my gf watch b4... tongue.gif

im on the contrary. trust is required in business. esp. in my line.

the trick is always to have a sense of doubt. don't trust fully. smile.gif
*
in mandarin.... to be accurate

'hai ren zhi xin bu ke you; fang ren zhi xin bu ke wu"

meaning.. the intention of evil must not be available; the thought of not doubt peopl must be there"
constant
post Jul 2 2010, 06:23 PM

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QUOTE(edyek @ Jun 29 2010, 02:56 PM)
I'm good with mine.  smile.gif
*
Hi edyek,

Can you point me to a post about what you do? What type of business?

TQ
TSedyek
post Jul 2 2010, 07:35 PM

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QUOTE(constant @ Jul 2 2010, 06:23 PM)
Hi edyek,

Can you point me to a post about what you do? What type of business?

TQ
*
1) Construction business (Medium Scale). (Planning to become a small/medium developer within 3 years time, if everything goes well.)

2) Trading business (Small Scale). (Running it with my partner. Supply buildings materials to my construction business and others contractors.)

3) Billboard advertising (Medium Scale). (Running it with my partner.)

4) Property investing and Land banking (Medium Scale). (More to land banking. Invest with my partners, my mentor and family.)

5) Seaweed cultivation (Medium Scale). (Running it with my partner. Supply raw dried seaweed to Phillipine.)

6) Palm Oil Plantation (Medium Scale). (Running it with my partner. Currently managing 800 and 1,200 acres for a company.)

7) Budget Hotel (Small Scale). (Running it with my relative. Currently under renovation and soon to be open for business.)

I'm more focus into construction and land banking myself. Others I leave it to my partner to manage; with constant monthly monitoring of course. smile.gif
constant
post Jul 2 2010, 08:20 PM

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Hi edyek,

How can find so much time to run so many bis? May I know the billboard advertising biz, what does it entail? is it hard to do? Capital intensive? who construct those billboards?

Tq
Awakened_Angel
post Jul 3 2010, 12:20 AM

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QUOTE(edyek @ Jul 2 2010, 08:35 PM)
1) Construction business (Medium Scale). (Planning to become a small/medium developer within 3 years time, if everything goes well.)

2) Trading business (Small Scale). (Running it with my partner. Supply buildings materials to my construction business and others contractors.)

3) Billboard advertising (Medium Scale). (Running it with my partner.)

4) Property investing and Land banking (Medium Scale). (More to land banking. Invest with my partners, my mentor and family.)

5) Seaweed cultivation (Medium Scale). (Running it with my partner. Supply raw dried seaweed to Phillipine.)

6) Palm Oil Plantation (Medium Scale). (Running it with my partner. Currently managing 800 and 1,200 acres for a company.)

7) Budget Hotel (Small Scale). (Running it with my relative. Currently under renovation and soon to be open for business.)

I'm more focus into construction and land banking myself. Others I leave it to my partner to manage; with constant monthly monitoring of course.  smile.gif
*
Hi there..... didnt expect you are from building material line ..... I am from that line as well... nicely diverse business u have there
TSedyek
post Jul 3 2010, 08:55 AM

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QUOTE(constant @ Jul 2 2010, 08:20 PM)
Hi edyek,

How can find so much time to run so many bis? May I know the billboard advertising biz, what does it entail? is it hard to do? Capital intensive? who construct those billboards?

Tq
*
Partners, it's all about finding the right person. I will create a thread regarding billboard advertising. Let me find time to compile the information and post it here.

QUOTE(Awakened_Angel @ Jul 3 2010, 12:20 AM)
Hi there..... didnt expect you are from building material line ..... I am from that line as well... nicely diverse business u have there
*
I know you are operating a hardware shop. biggrin.gif
My next move will be health care sector. (Still in feasibility study stage)
am_eniey
post Jul 3 2010, 02:28 PM

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I believe `edyek` is the most genuine businessman in LYN. He does not talk theories only. He implements everything. This is what we call true business and that's why he is successful. Way to go `edyek`.
TSedyek
post Jul 3 2010, 02:54 PM

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QUOTE(am_eniey @ Jul 3 2010, 02:28 PM)
I believe `edyek` is the most genuine businessman in LYN. He does not talk theories only. He implements everything. This is what we call true business and that's why he is successful. Way to go `edyek`.
*
Thanks for the compliment. You are too a smart and decent business man yourself. Cheers. thumbup.gif

Btw, I saw a laundry company had opened up a few collection centre to collect clothes from people to wash (Every where I go, shopping mall, commercial centre, shoplot nearby residential all has the said laundry collection centre). And at the end of the day, their truck will come and pick up all the clothes and bring it to their *god knows where washing centre. Then after washing and ironing, they will distribute back the clothes to the respective collection centre and wait for the customer to pick up.

Pro:
1. Minimal capital needed, no washing machine or anything.
2. Save space. No necessary to rent a shop. All you need is just a counter to collect the clothes.

Con:
1. Can't do urgent wash.
2. Charge more to customers, as it incurred more expenses such as collecting and distribute back the clothes.
am_eniey
post Jul 3 2010, 03:20 PM

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2. Save space. No necessary to rent a shop. All you need is just a counter to collect the clothes. <----Renting is a must because there are stubborn customers who do not take their clothes for years. So, the agent needs a spare space for those people who `forget` to take their belongings.

You deserve more than just compliments because I see so many LYN forummers talk theories only in fact they all have zero knowledge practically but act like they own a business for many years. That's why I stay out from this section for quite a while as I see so many bashers.
gs20
post Jul 3 2010, 04:12 PM

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My case

Online trading
Capital : 2-3k in my saving account
Partner : none
Location : My home
Monthly/Daily Income : 3k-10k / 0 - 2k
Workers : myself
Duration : One and a half year

My current plan:
-------------------
- First, finalize my website, cutting down the time to generate invoices + to enhance on customer record tracking.

- Second, to rent a shop. The reason is because certain group of potential customer need a demo & for the time being, I'm doing demo at their premise. Another reason to get a shop is to keep the ever growing stock (my room is full of boxes).

- Third, to increase on the product range.

- Fourth, hire dispatch guy for simple/installation-free delivery.
thenightcrusader
post Jul 3 2010, 04:24 PM

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QUOTE(gs20 @ Jul 3 2010, 05:12 PM)
My case

Online trading
Capital : 2-3k in my saving account
Partner : none
Location : My home
Monthly/Daily Income : 3k-10k / 0 - 2k
Workers : myself
Duration : One and a half year

My current plan:
-------------------
- First, finalize my website, cutting down the time to generate invoices + to enhance on customer record tracking.

- Second, to rent a shop. The reason is because certain group of potential customer need a demo & for the time being, I'm doing demo at their premise. Another reason to get a shop is to keep the ever growing stock (my room is full of boxes).

- Third, to increase on the product range.

- Fourth, hire dispatch guy for simple/installation-free delivery.
*
hi gs20,

that's an interesting business you have there. may i know what kind of goods do you trade online?

gs20
post Jul 3 2010, 04:30 PM

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@thenightcrusader
I'm doing office equipments & bit of cash register, sewing machine as well.
thenightcrusader
post Jul 3 2010, 04:34 PM

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oh sorry, i've missed the siggy below. that's a good income for a business that young. i'm also looking for opportunities like this as well.


This post has been edited by thenightcrusader: Jul 3 2010, 04:41 PM
TSedyek
post Jul 3 2010, 05:21 PM

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QUOTE(gs20 @ Jul 3 2010, 04:12 PM)
My case

Online trading
Capital : 2-3k in my saving account
Partner : none
Location : My home
Monthly/Daily Income : 3k-10k / 0 - 2k
Workers : myself
Duration : One and a half year

My current plan:
-------------------
- First, finalize my website, cutting down the time to generate invoices + to enhance on customer record tracking.

- Second, to rent a shop. The reason is because certain group of potential customer need a demo & for the time being, I'm doing demo at their premise. Another reason to get a shop is to keep the ever growing stock (my room is full of boxes).

- Third, to increase on the product range.

- Fourth, hire dispatch guy for simple/installation-free delivery.
*
It's a good sign that you are having a healthy business status. Good luck in your expansion.


Added on July 3, 2010, 5:24 pm
QUOTE(am_eniey @ Jul 3 2010, 03:20 PM)
2. Save space. No necessary to rent a shop. All you need is just a counter to collect the clothes. <----Renting is a must because there are stubborn customers who do not take their clothes for years. So, the agent needs a spare space for those people who `forget` to take their belongings.
*
State the terms and conditions. Overdue one/two weeks clothing will be send to our central storage location. Sometimes I tend to forget my laundry and it's good that the laundry shop give me a call when it is 2/3 days due.

This post has been edited by edyek: Jul 3 2010, 05:24 PM
Thiejie
post Jul 4 2010, 08:12 AM

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Hi edyek, very informative thread here.
My question is not so much about what business to do, or how to start up/register a company.

Rather, I'm very interested in how you managed to get into those businesses in the first place?
E.g the construction business - did you work in a construction company, or had a relative working/managing in one, then decided to set-up yourself?
Or did you decide to jump straight in, hire a few architects, engineers & labourers, then learnt where to source for supplies etc? Or was the construction business an off-shoot of your trading business (which you started earlier(?), since it would be (I think) less capital intensive, and an easier place to start and learn from).

Hope you can share with us, as because I believe a lot of people have ideas / 'see opportunities' out there, but dont know how to go in OR dont have the time to (to quit their jobs and work in the business of their interest, and then start their own (as most people usually do)). E.g. the billboard advertising - how did you learn where to construct and to get supply of the billlboards, design, location to place them, and about the sales - how did you approach advertisers, companies etc.

The health sector - which part are you entering, and how are you approaching it (have a partner / friend in the healthcare sector?) Are you servicing hospital equipment, trading hospital supplies, setting up a specialist centre, health tourism, natural products etc?

(This might irk some people, but I believe there are some businesses out there that are inherently 'easier' to enter / have a lower barrier to entry - i.e. setting up a food stall - as opposed to setting up a 'green technology' company, where even the word needs to be understood - no offence)

This post has been edited by Thiejie: Jul 4 2010, 08:23 AM
TSedyek
post Jul 4 2010, 01:08 PM

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QUOTE(Thiejie @ Jul 4 2010, 08:12 AM)
Hi edyek, very informative thread here.
My question is not so much about what business to do, or how to start up/register a company.

Rather, I'm very interested in how you managed to get into those businesses in the first place?
E.g the construction business - did you work in a construction company, or had a relative working/managing in one, then decided to set-up yourself?
Or did you decide to jump straight in, hire a few architects, engineers & labourers, then learnt where to source for supplies etc? Or was the construction business an off-shoot of your trading business (which you started earlier(?), since it would be (I think) less capital intensive, and an easier place to start and learn from).

Hope you can share with us, as because I believe a lot of people have ideas / 'see opportunities' out there, but dont know how to go in OR dont have the time to (to quit their jobs and work in the business of their interest, and then start their own (as most people usually do)). E.g. the billboard advertising - how did you learn where to construct and to get supply of the billlboards, design, location to place them, and about the sales - how did you approach advertisers, companies etc.

The health sector - which part are you entering, and how are you approaching it (have a partner / friend in the healthcare sector?) Are you servicing hospital equipment, trading hospital supplies, setting up a specialist centre, health tourism, natural products etc?

(This might irk some people, but I believe there are some businesses out there that are inherently 'easier' to enter / have a lower barrier to entry - i.e. setting up a food stall - as opposed to setting up a 'green technology' company, where even the word needs to be understood - no offence)
*
1) Construction
Graduated as a Quantity surveyor. I was first involved in a contractor firm, then I move to a developer firm. So I know the In-and-Out of developing properties and constructing properties. After a few years of gaining experience from both contractor and developer firm, I setup a contractor firm myself. As I've a few projects on my hand, it is wise for me to import steel, safety equipment, hardware (nails, hammer etc.) myself to lower my project cost. Therefore I setup another hardware company with my partner which he market the hardware materials to local contractor and hardware shop while supplying hardware materials to my construction company. You can say its a in-house supplier.

2) Billboard
Was first approach by this opportunity when I was working at the Developer firm. My ex-company was advertising on billboards for their newly launch property which cost them RM120k per year at peak traffic area. And I did some feasibility studies and found out this is a good opportunity, therefore I volunteer myself to handle on billboard advertising for the company future projects. Gradually I get to know whose is in charge in the advertising department at the local council and JKR and the rest is history. From planning to execution stage (applying license and constructing billboard structure) was my job while printing, maintenance and renting the billboard space was my partner job (found a partner which operates printing company and he has Degree at Sales & Marketing).

3) Healthcare
Planning stage. Currently negotiating a Joint Venture plan with a land owner to develop a few rows of shoplot. Planning to retain a few block to convert into small/medium size medical centre (At the same time, I've talk to two of my doctors friend who is interested in operating the medical centre).

What I can say is, all business needs feasibility studies, strategical planning, partners and funding.
1) Feasibility studies
Always do feasibility studies before you do anything. Therefore you know what to expect when you carry out your plan, mostly.

2) Strategical Planning
Always plan ahead of time. Without planning, you are risking your business to be in a failure state. Whats your plan to bring the company to a competitive state. What your plan in bringing more profit to the company. What your plan to expand the company and etc.

3) Partners
Find the right partner. Find those who has interest in your business plan. Find those who is financially secure. Find those who is successful in their business or in their career.

4) Funding
The most important thing and always the hardest part of all. There are many theories in books on how to raise funds, therefore I do not need to explain it here. What I can say is, if you have the idea/ways (which you think will succeed) to raise fund, just go and give it a try. No harm done if people say No to you.

boringz
post Jul 5 2010, 09:30 AM

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nice one edyek. smile.gif
TSedyek
post Jul 6 2010, 08:34 AM

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QUOTE(constant @ Jul 2 2010, 08:20 PM)
Hi edyek,

How can find so much time to run so many bis? May I know the billboard advertising biz, what does it entail? is it hard to do? Capital intensive? who construct those billboards?

Tq
*
All you need to know is here. http://forum.lowyat.net/topic/1480273
hackwire
post Jul 8 2010, 06:25 AM

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did anyone knows the photo and video studio business capital start up?
a small studio for taking family photos and children.

in my mind i expect about RM 40K setup including shop rental deposit , equipment and renovation .

manpower: 2 partners, 1 photographer,1 designer, 1 admin clerk cum customer service , Sales Exec

Staff salary: photographer (RM 2K), Designer (2K) Admin (1.5K) Partners ( 3K each) Sales exec (2.5K)

Monthly expenditure: Salary, Cost and Rental estimated at RM 20K .

Is my budget reasonable and salary payout is fair?

This post has been edited by hackwire: Jul 8 2010, 06:26 AM
TSedyek
post Jul 8 2010, 08:53 AM

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QUOTE(hackwire @ Jul 8 2010, 06:25 AM)
did anyone knows the photo and video studio business capital start up?
a small studio for taking family photos and children.

in my mind i expect about RM 40K setup including shop rental deposit , equipment and renovation .

manpower: 2 partners, 1 photographer,1 designer, 1 admin clerk cum customer service , Sales Exec

Staff salary: photographer (RM 2K), Designer (2K) Admin (1.5K) Partners ( 3K each) Sales exec (2.5K)

Monthly expenditure: Salary, Cost and Rental estimated at RM 20K .

Is my budget reasonable and salary payout is fair?
*
Rental = Assume 1.5k (3+1) = RM 6k
Salary = RM 8k (Assume you and your partner do not take the salary 1st)
Total = RM 14k, and with RM 16k left.

Are you sure RM16k is enough for your equipment and renovation? Let's say RM16k is enough. How are you going to turn your business for the 2nd month and 3rd month since your RM40k is used up? Are you aware that maybe the first 3 months you won't be earning money? Unless you come up with another alternative, otherwise Im just thinking RM 40k i s not enough.

Option 1 :
Get more capital

Option 2 :
Cut down your manpower.
a) Find a photographer cum designer (3k, save 1k).
b) Sales executive can be you or your partner. (Pay 2.5k salary)
c) You or your partner (whoever is not working) don't get 3k salary, get 1k.
Total saving = 1k + 4k = 5k.
hackwire
post Jul 8 2010, 09:39 AM

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Thanks edyek,

I get a pretty good idea of your accounting. I believe RM 40K start up will not be enough including the business cooling period i say about 3-6 months.

Moreover, we feel that the location have got to be visible and also ground floor with ample parking space. So shoplot rental will not be so cheap already.

We are looking forward on professional studio so we cannot compromise on good location , staff and equipment.

Renovation and Furnish: RM 35K
Equipment : RM 20K
Rental Deposit: RM 4K per month ( 12K -3months)
Utilities Deposit: RM 1K

Total: 60K

Staff:
1) Management Director @ RM 3K
2) Sales Director @ RM 3K
3) Photographer cum Designer @ RM 3K
4) Sales Admin (female) @ RM 2K

Misc: RM 3K
Rental : RM 4K

Monthly Costing : Staff + Misc = RM 18K

6 Months Grace Period : 108K.

Total Capital Startup @ RM 170K

TSedyek
post Jul 8 2010, 09:50 AM

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QUOTE(hackwire @ Jul 8 2010, 09:39 AM)
Thanks edyek,

I get a pretty good idea of your accounting. I believe RM 40K start up will not be enough including the business cooling period i say about 3-6 months.

Moreover, we feel that the location have got to be visible and also ground floor with ample parking space. So shoplot rental will not be so cheap already.

We are looking forward on professional studio so we cannot compromise on good location , staff and equipment.

Renovation and Furnish: RM 35K
Equipment : RM 20K
Rental Deposit: RM 4K per month ( 12K -3months)
Utilities Deposit: RM 1K

Total: 60K

Staff:
1) Management Director @ RM 3K
2) Sales Director @ RM 3K
3) Photographer cum Designer @ RM 3K
4) Sales Admin (female) @ RM 2K

Misc: RM 3K
Rental : RM 4K

Monthly Costing : Staff + Misc = RM 18K

6 Months Grace Period : 108K.

Total Capital Startup @ RM 170K
*
Well done on the math. Then the next step is to figure out where to look for this funding.
1) Loan
2) Investor
3) Family/Relative
4) Relative
6) Own saving
7) Quickly go and find a contract (school/company or etc yearly photograph session or others). After the money is earned, pump into your new business.
am_eniey
post Jul 8 2010, 09:56 AM

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@hackwire

To me, if a business requires RM40k of start up capital, it's much safer if you have double or more the amount in your savings. Don't take things for granted as (visible and also ground floor with ample parking space ) as we can't predict hidden costs and challenges up ahead. Whatever you do, stay on the safe side.

My very close friend just opened a photo studio in Ampang but he becomes everything from photographer, designer, clerk, janitor and so on. He's working alone and he's quite successful now.

This post has been edited by am_eniey: Jul 8 2010, 09:59 AM
boringz
post Jul 8 2010, 10:03 AM

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> whatever you can save, save. Don't be lavish and 'spend' when you are supposed to do business. <
TSedyek
post Jul 8 2010, 10:12 AM

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QUOTE(am_eniey @ Jul 8 2010, 09:56 AM)
My very close friend just opened a photo studio in Ampang but he becomes everything from photographer, designer, clerk, janitor and so on. He's working alone and he's quite successful now.
*
Suddenly flash back to the time when I first startup my construction firm. From supervisor, managing tender, to preparing award, consultant meeting etc...Lots of work until 24 hours a day is not enough for me. I even sacrifice my time with my gf and lucky she din't dump me. sweat.gif
Al3x0174
post Jul 8 2010, 10:18 AM

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My view is that if you are not those wedding photographer, better to take 2nd floor. Much cheaper rental
hackwire
post Jul 8 2010, 12:32 PM

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thanks guy, i just want to ask one question? When you think of photo shoot studio around KL and PJ, which company name that you can memorize and will go there to shoot and process?

i know there's a lot in town but can you think of any shop that you will always visit because 1) Pro 2) Service and 3) Quality

Price is subjective so not worth comparing ...

gs20
post Jul 8 2010, 12:36 PM

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@hackwire

Is 20k really enough for the equipments? May I know what are the equipments you plan to get for a studio? AFAIK, a D3x alone already cost > RM 20k

@edyek

She'll look like a fool if she dump the gold mine.

This post has been edited by gs20: Jul 8 2010, 12:38 PM
nina81
post Jul 8 2010, 12:52 PM

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Hi there... I'm presently a housewife b'coz I have to take care of my baby. But I'm planning to start my own business once my baby is a year old. Can anyone come up with a good suggestion on what kind of business should I consider? Preferably marketing.

BTW I'm in Sarawak.


hackwire
post Jul 8 2010, 01:17 PM

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QUOTE(gs20 @ Jul 8 2010, 12:36 PM)
@hackwire

Is 20k really enough for the equipments? May I know what are the equipments you plan to get for a studio? AFAIK, a D3x alone already cost > RM 20k

@edyek

She'll look like a fool if she dump the gold mine.
*
Maybe not so highly cost of equipment but some SLR cam, Tripod and lightings. Some of it will search for second hand.
also some computers. So i guess i need to push up the cost of equipment to RM 30-40K on the safer side.
TSedyek
post Jul 8 2010, 03:07 PM

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QUOTE(nina81 @ Jul 8 2010, 12:52 PM)
Hi there... I'm presently a housewife b'coz I have to take care of my baby. But I'm planning to start my own business once my baby is a year old. Can anyone come up with a good suggestion on what kind of business should I consider? Preferably marketing.

BTW I'm in Sarawak.
*
Just tell us if you have any slightest idea of what you want to do? We might be able to give comments and maybe share some new ideas for you.

QUOTE(hackwire @ Jul 8 2010, 01:17 PM)
Maybe not so highly cost of equipment but some SLR cam, Tripod and lightings. Some of it will search for second hand.
also some computers. So i guess i need to push up the cost of equipment to RM 30-40K on the safer side.
*
Ah, I see. Never play with pro cam before, din't know that it cost that much. sweat.gif

Good luck to your business. thumbup.gif
wodenus
post Jul 8 2010, 03:15 PM

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QUOTE(nina81 @ Jul 8 2010, 12:52 PM)
Hi there... I'm presently a housewife b'coz I have to take care of my baby. But I'm planning to start my own business once my baby is a year old. Can anyone come up with a good suggestion on what kind of business should I consider? Preferably marketing.

BTW I'm in Sarawak.
*
Salespeople are always in demand smile.gif

nina81
post Jul 8 2010, 09:19 PM

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QUOTE(edyek @ Jul 8 2010, 03:07 PM)
Just tell us if you have any slightest idea of what you want to do? We might be able to give comments and maybe share some new ideas for you.
Ah, I see. Never play with pro cam before, din't know that it cost that much.  sweat.gif

Good luck to your business.  thumbup.gif
*
My plan is to market something 'not-seen-around-Sarawak-yet' and to be the first to market it.

Do you guys in Semenanjung find anything useful but not found yet in Saawak? I mean useful, economical and profitable....

TSedyek
post Jul 9 2010, 08:30 AM

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QUOTE(nina81 @ Jul 8 2010, 09:19 PM)
My plan is to market something 'not-seen-around-Sarawak-yet' and to be the first to market it.

Do you guys in Semenanjung find anything useful but not found yet in Saawak? I mean useful, economical and profitable....
*
Your plan is what plan? I don't see any plan here. Sometimes it is not seen, it has been seen but not feasible to start up. Better think yourself something rather than asking what to do. smile.gif
boringz
post Jul 11 2010, 10:19 PM

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Edyek and the rest, any tips or links for opening a tyre shop? Intend to open one soon. Looking for 2nd hand equipments.. smile.gif
TSedyek
post Jul 12 2010, 08:08 AM

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QUOTE(boringz @ Jul 11 2010, 10:19 PM)
Edyek and the rest, any tips or links for opening a tyre shop? Intend to open one soon. Looking for 2nd hand equipments.. smile.gif
*
I'm sorry. I'm not familiar with tyre business, therefore I couln't provide any useful information. smile.gif
Patrick Star
post Jul 12 2010, 04:56 PM

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Hi All..

My friend will be supplying sotong junk food for me to sell..

I plan to sell in different night market everyday in KL, PJ etc..

I plan to start with one stall first then slowly increase to 2 & 3 etc. I will hire ppl to help me look after those stalls.


Any advice? or suggestion?

Any better way to expand this business?

I also plan to sell ice cream in the night market as my bro will supply to me.

Kindly advise..

Can do this part time? or need full time?



Al3x0174
post Jul 12 2010, 05:14 PM

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Sell those sotong junk food to bars as snack - alternative
Can do part time if your work allow you to go home sharp sharp - but I doubt you will have that time. Jam + Setup stall...
Patrick Star
post Jul 12 2010, 06:32 PM

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QUOTE(Al3x0174 @ Jul 12 2010, 05:14 PM)
Sell those sotong junk food to bars as snack - alternative
Can do part time if your work allow you to go home sharp sharp - but I doubt you will have that time. Jam + Setup stall...
*
oo..good sugestion..thx..

sumor?

yeah..tat is wat i considering..i working full time job reali eat up alot my time..

i want to do own business bt reali no time..

financial oso a prob..haih

help..advice..
am_eniey
post Jul 12 2010, 07:54 PM

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QUOTE(boringz @ Jul 11 2010, 10:19 PM)
Edyek and the rest, any tips or links for opening a tyre shop? Intend to open one soon. Looking for 2nd hand equipments.. smile.gif
*
I believe there's one LYN forummer owns a tyre shop in Sabah.... but I forgot his nickname...keep looking and good luck.
tothebest
post Jul 13 2010, 05:44 PM

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QUOTE(barista @ Jan 12 2010, 06:56 PM)
I'm thinking of doing something which does not involve hiring workers at the moment. Have own office lot which is not rented out. Perhaps I can use it for my own business but I don't know what to do yet tongue.gif
*
depands on what biz u r intrested.and the location too is important.if u need more idea u can pm me .


Added on July 13, 2010, 5:49 pm
QUOTE(nina81 @ Jul 8 2010, 10:19 PM)
My plan is to market something 'not-seen-around-Sarawak-yet' and to be the first to market it.

Do you guys in Semenanjung find anything useful but not found yet in Saawak? I mean useful, economical and profitable....
*
u must decide what catagory u wanna venture.fashion?food? what r things that salelable in sarawak?

This post has been edited by tothebest: Jul 13 2010, 05:49 PM
boringz
post Jul 13 2010, 05:51 PM

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new equipments are not cheap man. just a basic set fetches about 90++k. have to buy a shop too... total up = $$$.

rummaging around for 2nd hand tyre equipments but not that common hmm...
TSedyek
post Jul 13 2010, 08:38 PM

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QUOTE(Patrick Star @ Jul 12 2010, 06:32 PM)
oo..good sugestion..thx..

sumor?

yeah..tat is wat i considering..i working full time job reali eat up alot my time..

i want to do own business bt reali no time..

financial oso a prob..haih

help..advice..
*
If you don't have time for business, then stick to your job. If you really love business, and decide to give it a try, try doing part time business.

YuNGSeNG
post Jul 13 2010, 11:45 PM

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QUOTE(Patrick Star @ Jul 12 2010, 04:56 PM)
Hi All..

My friend will be supplying sotong junk food for me to sell..

I plan to sell in different night market everyday in KL, PJ etc..

I plan to start with one stall first then slowly increase to 2 & 3 etc. I will hire ppl to help me look after those stalls.
Any advice? or suggestion?

Any better way to expand this business?

I also plan to sell ice cream in the night market as my bro will supply to me.

Kindly advise..

Can do this part time? or need full time?
*
Do you have any photos or informations of the sotong junk food ? I may interest to buy from you and resell it with my own idea. Provided nice product and nice price.
Patrick Star
post Jul 14 2010, 12:31 PM

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QUOTE(edyek @ Jul 13 2010, 08:38 PM)
If you don't have time for business, then stick to your job. If you really love business, and decide to give it a try, try doing part time business.
*
my full time job now takes up alot of my time..

i want to do business..i need to quit my job..but then money is another prob..

any advice?

QUOTE(YuNGSeNG @ Jul 13 2010, 11:45 PM)
Do you have any photos or informations of the sotong junk food ? I may interest to buy from you and resell it with my own idea. Provided nice product and nice price.
*
whr u goin to resell it?

i gt few samples from my friend..

we can deal with it..hehe
Awakened_Angel
post Jul 14 2010, 01:02 PM

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QUOTE(edyek @ Jul 8 2010, 04:07 PM)

Ah, I see. Never play with pro cam before, din't know that it cost that much.  sweat.gif

Good luck to your business.  thumbup.gif
*
once i ask my photographer when i took my wedding shot.. hey how much is the cam that you are holding??

oh.. this cam? 30k

shocking.gif
am_eniey
post Jul 14 2010, 01:26 PM

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QUOTE(Patrick Star @ Jul 14 2010, 12:31 PM)
my full time job now takes up alot of my time..

i want to do business..i need to quit my job..but then money is another prob..

any advice?
whr u goin to resell it?

i gt few samples from my friend..

we can deal with it..hehe
*
You should concentrate yourself on the day job that you have. Save as much money as possible then go for business full time.
TSedyek
post Jul 14 2010, 01:50 PM

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QUOTE(Patrick Star @ Jul 14 2010, 12:31 PM)
my full time job now takes up alot of my time..

i want to do business..i need to quit my job..but then money is another prob..

any advice?
*
QUOTE(am_eniey @ Jul 14 2010, 01:26 PM)
You should concentrate yourself on the day job that you have. Save as much money as possible then go for business full time.
*
The best advice has been given by @am_eniey. Unless you have family/relative or friends who supports you financially.
Patrick Star
post Jul 14 2010, 02:20 PM

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thx alot for ur advice..

i already gt everything needed to start my business..i can start anytime..jus need get supply fr my friend..

i onli wori da first few months i cant earn enuf to support my expenses.

i gt around 10k plus saving..is it enuf?
Al3x0174
post Jul 14 2010, 02:23 PM

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Start small and earn your way up
You got my SUPPORT!!! thumbup.gif
Remember to advertise where you'll be selling. So that you not only get morale support but sales support as well biggrin.gif
boringz
post Jul 14 2010, 02:24 PM

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do you think, being over concerned/worried about every detail will actually stop you from doing anything? Sometimes it isn't the savings, money, etc. Sometimes it just boils down to courage and determination.
am_eniey
post Jul 14 2010, 03:34 PM

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QUOTE(Patrick Star @ Jul 14 2010, 02:20 PM)
thx alot for ur advice..

i already gt everything needed to start my business..i can start anytime..jus need get supply fr my friend..

i onli wori da first few months i cant earn enuf to support my expenses.

i gt around 10k plus saving..is it enuf?
*
Not all businesses gain profit in the beginning stage. It's just a stage of introduction and learning. BTW, have more than RM10k to be on the safe side.
TSedyek
post Jul 14 2010, 05:06 PM

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QUOTE(Patrick Star @ Jul 14 2010, 02:20 PM)
thx alot for ur advice..

i already gt everything needed to start my business..i can start anytime..jus need get supply fr my friend..

i onli wori da first few months i cant earn enuf to support my expenses.

i gt around 10k plus saving..is it enuf?
*
QUOTE(am_eniey @ Jul 14 2010, 03:34 PM)
Not all businesses gain profit in the beginning stage. It's just a stage of introduction and learning. BTW, have more than RM10k to be on the safe side.
*
For my projection RM 10k might be enough to go through 3 months. Since she is just buying sotong to fry and sell. How much sotong cost; I mean, seriously? Rental for a stall estimate to range between RM RM 20-RM 30 per day. Worker is RM 15-RM 20 per day?

But having more than RM 10k is good. nod.gif
am_eniey
post Jul 14 2010, 05:45 PM

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QUOTE(edyek @ Jul 14 2010, 05:06 PM)
For my projection RM 10k might be enough to go through 3 months. Since she is just buying sotong to fry and sell. How much sotong cost; I mean, seriously? Rental for a stall estimate to range between RM RM 20-RM 30 per day. Worker is RM 15-RM 20 per day?

But having more than RM 10k is good.  nod.gif
*
Indeed, te more the safer. Just like any other businesses !
khd229
post Jul 16 2010, 04:04 PM

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QUOTE(hackwire @ Jul 8 2010, 01:17 PM)
Maybe not so highly cost of equipment but some SLR cam, Tripod and lightings. Some of it will search for second hand.
also some computers. So i guess i need to push up the cost of equipment to RM 30-40K on the safer side.
*
I have no business on my own and also no experience in any business. But it seems to me your business need quite a lot of capital start up (more than 100k). Have you conduct study/research on how much you can earn? I don't know how much usually photo shop earn but the risk here seems to big.
boringz
post Jul 16 2010, 04:07 PM

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i second on that comment from hkd229... big spendings on a saturated market. risk is high so is it worth the risk? unless its more of a hobby than business? many friends who 'play' DSLRs have that goal of being pro photographers... not sure whether they are successful in earning from that niche or not...
Al3x0174
post Jul 16 2010, 04:28 PM

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I dont c anything wrong with that.
just have more sales plan
I know not much people earn a lot doing things that they like. but I also know a lot of people doing things that they dont like and still dont earn big bucks.

since you got the tool, do more than just inhouse lo. company dinner, advertisement, functions, events, etc, etc.

I think nowadays if you target those mui mui (18-20+) taking "Youth Photos" better. Offer better rate. (Student ma). Dont do anything funny in the dark room can aledi
Patrick Star
post Jul 18 2010, 12:27 AM

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hi..

i geting sotong junk food supply from my friend.like those dried cuttlefish.

My friend sell it b4 at night market. She suggest me sell at night market. cuz low rental. den can shift place easily.

I plan to sell at night market first.. then after that open more stalls at diff night market.

Then gt ppl sugest me supply to mini market, shops, bars, sell online etc.

Wt u all think? workable? as some ppl don like sotong.
anson lee
post Jul 18 2010, 09:45 PM

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Wow.nice advise and sharing here.Following since 1st page..I've learn alot ideas from here.
Currently doing part time job and online reseller.Since I am still a student.

Nice~!!!Keep it up guys~Will seek this tread often. rclxms.gif rclxms.gif
boringz
post Jul 18 2010, 10:01 PM

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haha.. yeah sure. smile.gif just my opinion. if that camera is gonna cost you 30k, and you do cheap youth photos... whew.. not worthy investment in my eyes. Well its just my opinion, no harm meant. smile.gif

you must always differentiate business and hobby. business must make money. hobby may make money.
TSedyek
post Jul 19 2010, 08:23 AM

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QUOTE(Patrick Star @ Jul 18 2010, 12:27 AM)
hi..

i geting sotong junk food supply from my friend.like those dried cuttlefish.

My friend sell it b4 at night market. She suggest me sell at night market. cuz low rental. den can shift place easily.

I plan to sell at night market first.. then after that open more stalls at diff night market.

Then gt ppl sugest me supply to mini market, shops, bars, sell online etc.

Wt u all think? workable? as some ppl don like sotong.
*
Just go and do it. No need to think so much. Some people don't like to drink green tea. Some people don't like to eat durian. No need to worry about somebody who don't like. There is always somebody out there don't like something.
]K[
post Jul 19 2010, 12:06 PM

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Good references!


Added on July 19, 2010, 3:00 pm
QUOTE(Gary1981 @ Dec 31 2009, 10:01 AM)
It depends on what you recruit them for purpose. For me, I dont classify the CHEAP to recruit a good labour. I wiling to pay if they serve their job good. Perhaps you should try out sabah & sarawak workers. I have a lot business & contractors friends that recruit this people (From 1k-2k range). They are strong and hardworking. Just treat them as a HUMAN & part of your family in your company. I was suprise when a business friend of mine told me he gave his worker(sabahan) which work for 6 years at  salary 2k.
*
Regarding on the salary of East M'sia. This is real truth as what I am observin here in S'wak.

This post has been edited by ]K[: Jul 19 2010, 03:00 PM
sching
post Jul 23 2010, 01:03 PM

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A very useful thread here! What do you guys think about organic business? For example selling organic soaps? Is it feasible? Hw about the marketability?
Al3x0174
post Jul 23 2010, 04:26 PM

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QUOTE(sching @ Jul 23 2010, 01:03 PM)
A very useful thread here! What do you guys think about organic business? For example selling organic soaps? Is it feasible? Hw about the marketability?
*
sellable to the rich and needy eg new born baby,patient
they prefer branded organic stuff
except for foods

my 5 cent opinion
hackwire
post Jul 24 2010, 06:54 AM

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im now in the midst to plan my new office. i read about some virtual offices for businesses and also some office space for rent. Have you guys seen any of this offices around before?


TSedyek
post Jul 24 2010, 08:42 AM

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QUOTE(sching @ Jul 23 2010, 01:03 PM)
A very useful thread here! What do you guys think about organic business? For example selling organic soaps? Is it feasible? Hw about the marketability?
*
Its a niche market. You need some good "wow" factor to promote your products.

QUOTE(hackwire @ Jul 24 2010, 06:54 AM)
im now in the midst to plan my new office. i read about some virtual offices for businesses and also some office space for rent. Have you guys seen any of this offices around before?
*
If you are going to consider using your office space for your job, then don't take virtual offices.
hackwire
post Jul 24 2010, 09:44 AM

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thanks edyek.
i have a friend who wish to join me in partnership and i do enjoy his company to work with together but he does not have enough dough to start with me so i thought maybe i should fork out the initial setup like registrar and other small finances that will incur , later i redeem back from the Sdn Bhd as loan taken from me.

Can i know roughly how much is the registering of ROC and also secretary fees per year? Is the secretary job includes accounting and auditing?


TSedyek
post Jul 24 2010, 10:00 AM

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QUOTE(hackwire @ Jul 24 2010, 09:44 AM)
thanks edyek.
i have a friend who wish to join me in partnership and i do enjoy his company to work with together but he does not have enough dough to start with me so i thought maybe i should fork out the initial setup like registrar and other small finances that will incur , later i redeem back from the Sdn Bhd as loan taken from me.

Can i know roughly how much is the registering of ROC and also secretary fees per year? Is the secretary job includes accounting and auditing?
*
Ah, I see. You just need to tell your accountant the initial capital is fork out by you, and will be paid by S/B during the end of financial year in case the S/B earns money.

I never register the S/B company myself as I do not have time for it. I buy over existing company (cost me RM 800) or register a new one (cost me RM 1.4k). If you know how to register, it will save you a sum of money (got thread in LYN regarding the company registration).

You hire an accountant with secretary license (My accountant is also my company secretary).

Financial year end auditing will cost you around RM 1.5k-2.5k.
sching
post Jul 24 2010, 10:04 AM

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QUOTE(edyek @ Jul 24 2010, 08:42 AM)
Its a niche market. You need some good "wow" factor to promote your products.
*
Yup..i agree it only appeals to a certain market of people. Do you think it would be profitable? Can you kindly suggest what would be the good "wow" factors for the products?
TSedyek
post Jul 24 2010, 10:30 AM

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QUOTE(sching @ Jul 24 2010, 10:04 AM)
Yup..i agree it only appeals to a certain market of people. Do you think it would be profitable? Can you kindly suggest what would be the good "wow" factors for the products?
*
Niche products (Organic soap) has high profit margin but less market share. E.g. You can sell RM 15 per pcs, but how many people will buy such an expensive soap (not much I would say)?

Common products (e.g. Common soap) has more market share, but little profit margin. E.g. Sell at RM 2-3 per pcs? But most of the people will buy it as it is more affordable.

Your need to target those health consicous people. I'm not a marketing consultant, therefore I cannot provide you any "WoW" factor. Go and google the word "Guerilla Marketing", maybe you will have some ideas.

If you want to see fast and effective result, the best selling method to sell is through direct selling or MLM.
sching
post Jul 24 2010, 10:50 AM

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Thanks, edyek for the constructive ideas!
hackwire
post Jul 24 2010, 11:51 AM

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usually if a friend becomes a partner 50-50 percent. is there a term and agreement or contract need to be sign or take a oath by two directors of the company? i know partnership business in sole proprietor business its better to draft a agreement in case one fellow have personal debt and the partner of the business became liable for it. how about Sdn Bhd, are they the same or pretty much bounded by the legal aspect in the ROC law if there is any?

This post has been edited by hackwire: Jul 24 2010, 11:52 AM
TSedyek
post Jul 24 2010, 12:07 PM

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QUOTE(hackwire @ Jul 24 2010, 11:51 AM)
usually if a friend becomes a partner 50-50 percent. is there a term and agreement or contract need to be sign or take a oath by two directors of the company? i know partnership business in sole proprietor business its better to draft a agreement in case one fellow have personal debt and the partner of the business became liable for it. how about Sdn Bhd, are they the same or pretty much bounded by the legal aspect in the ROC law if there is any?
*
No need to do agreement. Having shares in the company, you already legally bind to ROC law. Unless you want to put in some special clause like :
E.g.
If he ever wants to sell his share, you must be his 1st option to offer. Therefore, in order for him to sell the share, he will have to offer you to buy 1st; unless you are incapable or reluctant to buy the shares, only then he can offer someone else to buy it.

It is better to do 51%-49%. Let your partner have 49%, as you are the one who pump in the initial capital in the first place (usually the one who fork out money has the larger piece of pie). The reason behind this is because, you can overwrite any decision making in the company regardless what problem arise.

In a nut shell, just hold 51% or more of the company share.

hackwire
post Jul 24 2010, 01:30 PM

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thanks edyek. I have found out that our govt also conduct courses for corporate directors . In their SSM website have lots of courses and planning to sit out to gain deeper knowledge.

on the accounting part, we need to hire someone with business license right cannot be freelancer right?
we were thinking getting freelance to do compilation and monthly bookeeping and when end of year only we seek auditor to do the balancing. Is this correct way rather than hiring professionals since our receipts and transaction might not be so much yet.
YuNGSeNG
post Jul 24 2010, 06:50 PM

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QUOTE(hackwire @ Jul 24 2010, 06:54 AM)
im now in the midst to plan my new office. i read about some virtual offices for businesses and also some office space for rent. Have you guys seen any of this offices around before?
*
I do have contact with virtual office and service office as last times I was headache to find office space to rent, after research to all of them, now I'm able to know the basic pro and con of each different office space provider.

Maybe you can state what is your prefer location, rental budget and any requirement ? I try to come out some idea for you.
hackwire
post Jul 24 2010, 11:18 PM

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QUOTE(YuNGSeNG @ Jul 24 2010, 06:50 PM)
I do have contact with virtual office and service office as last times I was headache to find office space to rent, after research to all of them, now I'm able to know the basic pro and con of each different office space provider.

Maybe you can state what is your prefer location, rental budget and any requirement ? I try to come out some idea for you.
*
im kinda confuse now with virtual office and the office space rental ( shared ). I didn't know there was such thing. What's the Pro and Cons now? I understood that Sdn Bhd registration requires office address , so how can virtual office or office space can help in registering a business?

im looking for location in subang jaya or anything that don't cost a bomb near PJ . i kinda like empire soho but wonder if they have such office? Another place i like is mutiara damansara , i wonder if the one next to cineleisure open and have soho offices?
sching
post Jul 24 2010, 11:25 PM

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QUOTE(hackwire @ Jul 24 2010, 01:30 PM)
thanks edyek. I have found out that our govt also conduct courses for corporate directors . In their SSM website have lots of courses and planning to sit out to gain deeper knowledge.

on the accounting part, we need to hire someone with business license right cannot be freelancer right?
we were thinking getting freelance to do compilation and monthly bookeeping and when end of year only we seek auditor to do the balancing. Is this correct way rather than hiring professionals since our receipts and transaction might not be so much yet.
*
the accounting part u can actually hire a freelancer who majors in doing accounting work but for the auditor u must hire someone from an accounting firm as only authorised persons are able to sign off the audit report.
YuNGSeNG
post Jul 25 2010, 12:22 AM

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QUOTE(hackwire @ Jul 24 2010, 11:18 PM)
im kinda confuse now with virtual office and the office space rental ( shared ). I didn't know there was such thing. What's the Pro and Cons now? I understood that Sdn Bhd registration requires office address , so how can virtual office or office space can help in registering a business?

im looking for location in subang jaya or anything that don't cost a bomb near PJ . i kinda like empire soho but wonder if they have such office? Another place i like is mutiara damansara , i wonder if the one next to cineleisure open and have soho offices?
*
For your case (SOHO), I will think virtual office or serviced office is the best choice. Both Virtual office and Serviced office can help you in Sdn Bhd registration as both of them can provide you office address.

Based on your case, if you choose subang jaya or mutiara damansara area, in there only have normal office space, which mean you have to renovate your office and buy office furniture yourself. However, I will suggest you to take KL bukit bintang area virtual office or serviced office. The reason is cheapest and perfect location. And you do not need to renovate the office or buy office furniture. I try to give you some clear picture of what is virtual office and serviced office to clear your confusing.

Virtual office
1. You do not have "real office space" but you will have your office address. For example, you become tenant of ABC company (virtual & service office provider). Then you can rent their office address.
2. As mentioned, you do not have "real office" but you can enjoy their office business lounge. All the virtual office tenant can meet their client in the business lounge.
3. You have your own telephone line. For example : 03-2116XXXX. Any client call to this office number, the line will convert to your handphone.
4. If any letter post to the address, the customer service girl will help you keep it and inform you. Therefore, you can always go there collect your letter while meet client in business lounge. Or you can go to collect your letter when you got pass by there.
5. Free refreshment at 3.30pm in business lounge.
6. Free unlimited water, coffee and tea.

Rental around RM 60 - RM 100 per month. Depend on the package you want.

Serviced office (All these are included in the rental)
1. Own office with your own key include few tables, chairs, cupboard. The amount of furniture is depend on your office size.
2. CCTV around your own office outside only
3. Business lounge
4. Cleaning office everyday
5. Meeting room
6. Boardroom
7. Discussion room
8. Free refreshment at 3.30pm
9. Free unlimited water, coffee and tea
10. Gym & bathroom (No problem for overnight as you can bath in here)
11. Electricity & water bills
12. Free telephone & telephone line 03-2116xxxxx only (charge if you make call)
13. Free fax line 03-2116xxxxx only (charge if you fax somethings)
14. LAN & Wireless
15. Free receptionist for your client phone call before pass to your office phone
16. Security guard

All is include in the rental per month

Example :
Rental : RM 800
5% Gov tax : RM 40
So total you have to pay RM 840 only

The rental amount is depend on the office size you request. The bigger size, the higher price of rental.

If need help, enquiry or want to take a look of the office, I'm welcome to help you based on my experience.
(But I'm not sales person or agent)


TSedyek
post Jul 25 2010, 03:25 PM

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QUOTE(sching @ Jul 24 2010, 11:25 PM)
the accounting part u can actually hire a freelancer who majors in doing accounting work but for the auditor u must hire someone from an accounting firm as only authorised persons are able to sign off the audit report.
*
Since you are hiring an auditor, might as well just use their services to do the accounting. I always use professional services in my accounting, to save my headache, and in case anything happens, I can take legal action against the firm.
SUSalexcky
post Jul 25 2010, 07:05 PM

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QUOTE(edyek @ Jul 25 2010, 03:25 PM)
Since you are hiring an auditor, might as well just use their services to do the accounting. I always use professional services in my accounting, to save my headache, and in case anything happens, I can take legal action against the firm.
*
Dear all

I have open my own forum for business
Feel free to drop by and join

http://biznetwork.bigboardlive.com/forum.htm

thks ya
boringz
post Jul 25 2010, 08:36 PM

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what's wrong with using this forum to discuss about business? smile.gif
hackwire
post Jul 26 2010, 04:02 PM

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QUOTE(YuNGSeNG @ Jul 25 2010, 12:22 AM)
For your case (SOHO), I will think virtual office or serviced office is the best choice. Both Virtual office and Serviced office can help you in Sdn Bhd registration as both of them can provide you office address.

Based on your case, if you choose subang jaya or mutiara damansara area, in there only have normal office space, which mean you have to renovate your office and buy office furniture yourself. However, I will suggest you to take KL bukit bintang area virtual office or serviced office. The reason is cheapest and perfect location. And you do not need to renovate the office or buy office furniture. I try to give you some clear picture of what is virtual office and serviced office to clear your confusing.

Virtual office
1. You do not have "real office space" but you will have your office address. For example, you become tenant of ABC company (virtual & service office provider). Then you can rent their office address.
2. As mentioned, you do not have "real office" but you can enjoy their office business lounge. All the virtual office tenant can meet their client in the business lounge.
3. You have your own telephone line. For example : 03-2116XXXX. Any client call to this office number, the line will convert to your handphone.
4. If any letter post to the address, the customer service girl will help you keep it and inform you. Therefore, you can always go there collect your letter while meet client in business lounge. Or you can go to collect your letter when you got pass by there.
5. Free refreshment at 3.30pm in business lounge.
6. Free unlimited water, coffee and tea.

Rental around RM 60 - RM 100 per month. Depend on the package you want.

Serviced office (All these are included in the rental)
1. Own office with your own key include few tables, chairs, cupboard. The amount of furniture is depend on your office size.
2. CCTV around your own office outside only
3. Business lounge
4. Cleaning office everyday
5. Meeting room
6. Boardroom
7. Discussion room
8. Free refreshment at 3.30pm
9. Free unlimited water, coffee and tea
10. Gym & bathroom (No problem for overnight as you can bath in here)
11. Electricity & water bills
12. Free telephone & telephone line 03-2116xxxxx only (charge if you make call)
13. Free fax line 03-2116xxxxx only (charge if you fax somethings)
14. LAN & Wireless
15. Free receptionist for your client phone call before pass to your office phone
16. Security guard

All is include in the rental per month

Example :
Rental : RM 800
5% Gov tax : RM 40
So total you have to pay RM 840 only

The rental amount is depend on the office size you request. The bigger size, the higher price of rental.

If need help, enquiry or want to take a look of the office, I'm welcome to help you based on my experience.
(But I'm not sales person or agent)
*
oh thanks for this info. im greatly appreciated your write up.
As for now i think virtual office is great but i need to get a space for my business as it concern photo shooting studio. I just realized that.
YuNGSeNG
post Jul 26 2010, 06:08 PM

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QUOTE(hackwire @ Jul 26 2010, 04:02 PM)
oh thanks for this info. im greatly appreciated your write up.
As for now i think virtual office is great but i need to get a space for my business as it concern photo shooting studio. I just realized that.
*
You're welcome smile.gif
Mind to share what business you are plan to started ? A photo shooting studio ?
sching
post Jul 26 2010, 08:51 PM

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QUOTE(edyek @ Jul 25 2010, 03:25 PM)
Since you are hiring an auditor, might as well just use their services to do the accounting. I always use professional services in my accounting, to save my headache, and in case anything happens, I can take legal action against the firm.
*
Mainly due to independence issue, the auditor and the one doing the account should be separate persons. If they are the same person meaning they are merely auditing/checking their own work. If within the same firm but different persons, then it should be alright as it minimises the independence issue.
hackwire
post Jul 26 2010, 10:16 PM

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QUOTE(YuNGSeNG @ Jul 26 2010, 06:08 PM)
You're welcome  smile.gif
Mind to share what business you are plan to started ? A photo shooting studio ?
*
yeah a studio of my own work so i just need a small space for setup the photo stage and background . most likely my budget will be very low around rm 800 . a small soho office will do . im currently searching around damansara perdana area or shop offices .
YuNGSeNG
post Jul 27 2010, 09:34 AM

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QUOTE(hackwire @ Jul 26 2010, 10:16 PM)
yeah a studio of my own work so i just need a small space for setup the photo stage and background . most likely my budget will be very low around rm 800  . a small soho office will do . im currently searching around damansara perdana area or shop offices .
*
Oh I see, just to know, your customers is walk in customer, or you already have your own fixed customer based ?

If walk in customer, I think shoplot will be better for you ?

If you have own fixed customer based, then you can based your business in any hidden or not crowd area with cheaper rental, provided transport is convenient.
]K[
post Jul 27 2010, 12:48 PM

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Any1 here have any ideas bout trading between East M & West M'sia? Little info bout myself that I'm from East M'sia n currently workin in Kuchin. I hav got d office facility since I'm stayin in d office/ factory. I heard that there's sth like agriculture items cannot be send to the other side of M'sia. Any1 customs/ forwarding agencies' policy?
boringz
post Aug 5 2010, 02:01 PM

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You should call up customs to get full details about your inquiry.
Genesis_tan
post Aug 5 2010, 05:25 PM

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Thanks for sharing this useful information~~~
boringz
post Aug 5 2010, 05:37 PM

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guys, how do you look and seek for investors? what are the procedures and such? how to avoid problems in the future? tips please! biggrin.gif
TSedyek
post Aug 6 2010, 09:40 AM

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QUOTE(boringz @ Aug 5 2010, 05:37 PM)
guys, how do you look and seek for investors? what are the procedures and such? how to avoid problems in the future? tips please! biggrin.gif
*
1) Join more social club and do more networking.
2) Do proper a business plan.
3) Approah those people who you know has capital (if you join social club, you will tend to know who is wealthy, who is generous and things like that)
4) Pitch your business plan to them
5) Viola, they give you money, you go and setup the business.

Things to remember
1. If you business plan is a lousy plan, (such as open handphone shop, selling computer accessories etc. a common market business), please don't waste your time and most importantly the investor time. Let your idea rot away.

2. Always let your investor have the biggest pie (60% or 70%). They invest their capital in your startup, what do you expect? (Unless you are established business, then that is different story)

3. Always prepare to sacrifice your time and effort. If you startup requires your full time attention, then full time you shall give. Don't tell investor that you have a full time job as investor don't really care. You seek for fund, and fund is what you get, and yet you tell the investor that you are not giving 100% effort and time to the new startup? Then why should they invest in the 1st place?


boringz
post Aug 6 2010, 10:11 AM

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What's common and what's not common? Is shipping business common?
TSedyek
post Aug 6 2010, 12:14 PM

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QUOTE(boringz @ Aug 6 2010, 10:11 AM)
What's common and what's not common? Is shipping business common?
*
Do you have the necessary experience in shipping business? Are you familiar with our Custom law? What kind of things do you want to ship? Nowadays shipping business is a competitive business. Unless you ship chemicals or oils then it is niche market. But then, do you have the necessary license to ship those?
EroTe
post Aug 7 2010, 08:13 AM

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Guys, i'm thinking of setting up steamboat buffet restaurant (seafood) in Sabah with budget RM100k, do you think RM100k enough to setup a new steamboat seafood buffet restaurant? I do think for quite time and what i need to do now is survey the market (to see the condition of other steamboat businesses or other? ), location, supplier (didnt know how to find the supplier for seafood - is it possible to find in yellowpage, newspaper or internet for sabah seafood supplier?)

Btw, this is my very first business if i intend to open it up. About the experience, i am now working with my sister as manager of her company. I won't say i got a lot experience but i know so-so of the management as the problems always occur during my management. Still i am not very confident with my first business as RM100k is really big figure for me to get my real experience in future.

I need suggestion/opinions from you guys, any critics/comments will do, just hope to learn more from you all. Thanks in advance. (Please guide me what to do if i want to open up my business with RM100k and should i open it or not?)

This post has been edited by EroTe: Aug 7 2010, 08:15 AM
TSedyek
post Aug 7 2010, 08:39 AM

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QUOTE(EroTe @ Aug 7 2010, 08:13 AM)
Guys, i'm thinking of setting up steamboat buffet restaurant (seafood) in Sabah with budget RM100k, do you think RM100k enough to setup a new steamboat seafood buffet restaurant? I do think for quite time and what i need to do now is survey the market (to see the condition of other steamboat businesses or other? ), location, supplier (didnt know how to find the supplier for seafood - is it possible to find in yellowpage, newspaper or internet for sabah seafood supplier?)

Btw, this is my very first business if i intend to open it up. About the experience, i am now working with my sister as manager of her company. I won't say i got a lot experience but i know so-so of the management as the problems always occur during my management. Still i am not very confident with my first business as RM100k is really big figure for me to get my real experience in future.

I need suggestion/opinions from you guys, any critics/comments will do, just hope to learn more from you all. Thanks in advance. (Please guide me what to do if i want to open up my business with RM100k and should i open it or not?)
*
My friend, you are managerial level. Opening restaurant is not only about managing it, is about other factors also. Are you experience in F&B field? If you don't better save the money to do other things that you are familiar with.

RM 100k for a new startup + no experience is a risky thing to do. Unless of course you can afford to lose that money, but why whould you want to lose the money since you doubt about opening the steamboat restaurant?

1. You have not come out with a proper planning on how to do.
2. You have not come out with the location.
3. You don't even know the supplier to supply you ice cream, seafood and other frozen food.

If you are really dedicated, you should come out with a planning 1st, then you will know how much you actually need. (Don't think for a month but din't write down your preliminary plan and take any action at all.)

Cheers. smile.gif
EroTe
post Aug 7 2010, 08:53 AM

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QUOTE(edyek @ Aug 7 2010, 08:39 AM)
My friend, you are managerial level. Opening restaurant is not only about managing it, is about other factors also. Are you experience in F&B field? If you don't better save the money to do other things that you are familiar with.

RM 100k for a new startup + no experience is a risky thing to do. Unless of course you can afford to lose that money, but why whould you want to lose the money since you doubt about opening the steamboat restaurant?

1. You have not come out with a proper planning on how to do.
2. You have not come out with the location.
3. You don't even know the supplier to supply you ice cream, seafood and other frozen food.

If you are really dedicated, you should come out with a planning 1st, then you will know how much you actually need. (Don't think for a month but din't write down your preliminary plan and take any action at all.)

Cheers. smile.gif
*
True biggrin.gif , will do that when i am back to Malaysia, currently working at oversea so couldn't do anything unless looking for supplier online, and location? Really appreciate if you could provide me the relevant info for it as u might know some (because u r from KK, while i am thinking of open up my biz at KK too tongue.gif )

Anyway, ur thread has changed my thinking a lot as firstly i didnt expect so many problems/procedures need to do if doing biz in Malaysia. When reading you guys sharing your experience, i do think that doing business is not so easy to deal with (Cashflow- survivability/management/customer) in order to get at least break even -> profit.
Jordy
post Aug 7 2010, 08:14 PM

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QUOTE(EroTe @ Aug 7 2010, 08:13 AM)
Guys, i'm thinking of setting up steamboat buffet restaurant (seafood) in Sabah with budget RM100k, do you think RM100k enough to setup a new steamboat seafood buffet restaurant? I do think for quite time and what i need to do now is survey the market (to see the condition of other steamboat businesses or other? ), location, supplier (didnt know how to find the supplier for seafood - is it possible to find in yellowpage, newspaper or internet for sabah seafood supplier?)

Btw, this is my very first business if i intend to open it up. About the experience, i am now working with my sister as manager of her company. I won't say i got a lot experience but i know so-so of the management as the problems always occur during my management. Still i am not very confident with my first business as RM100k is really big figure for me to get my real experience in future.

I need suggestion/opinions from you guys, any critics/comments will do, just hope to learn more from you all. Thanks in advance. (Please guide me what to do if i want to open up my business with RM100k and should i open it or not?)
*
EroTe,

Why are you even considering of opening a business which you are doubting? Business is for the ones who ARE confident of their start up. As I have mentioned long time ago, experience can always be acquired, but your GUTS can not. If you keep playing it safe, you will always be scared when running your business, and trying to cut corners in setting up your business, which are often the reasons start ups fail.

You will also need to think about your cashflow. Since you said that RM100,000 is a lot of money to you, you probably have very less left IF you start your business. F&B businesses require months to pull the crowd because there is very limited avenue for you to advertise your business. So if you have very little business in that few months, are you very sure that you can sustain your salary to workers, utilities, rental and stocks? Seafood business is more difficult as you are dealing with perishable goods. Keep the food for a few days, and the freshness is gone. Once your food does not sell, your money will be gone. You HAVE to make sure that you are able to finish selling all your food within 3 days.
EroTe
post Aug 8 2010, 07:43 AM

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QUOTE(Jordy @ Aug 7 2010, 08:14 PM)
EroTe,

Why are you even considering of opening a business which you are doubting? Business is for the ones who ARE confident of their start up. As I have mentioned long time ago, experience can always be acquired, but your GUTS can not. If you keep playing it safe, you will always be scared when running your business, and trying to cut corners in setting up your business, which are often the reasons start ups fail.

You will also need to think about your cashflow. Since you said that RM100,000 is a lot of money to you, you probably have very less left IF you start your business. F&B businesses require months to pull the crowd because there is very limited avenue for you to advertise your business. So if you have very little business in that few months, are you very sure that you can sustain your salary to workers, utilities, rental and stocks? Seafood business is more difficult as you are dealing with perishable goods. Keep the food for a few days, and the freshness is gone. Once your food does not sell, your money will be gone. You HAVE to make sure that you are able to finish selling all your food within 3 days.
*
Well, it's true that confident (Gut) is a must to startup a business and i am aware i'm lacking of that maybe i am not risk-taker type but will try to do it anyway just like those gambling "high risk high return or vice verse" hmm.gif . Anyway, thanks for ur nice feedback, will try to make some plans before really into this business. I will be back if i got more questions which need you all sifus guide brows.gif
Zoe_low
post Aug 9 2010, 02:27 PM

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Thanks for sharing ur experience~~~
EroTe
post Aug 15 2010, 09:44 PM

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Btw, if want to setup the business in sabah, where to register the company and someone mind to explain the steps in details (for Sabah) only. Thanks in advance smile.gif
TSedyek
post Aug 15 2010, 10:02 PM

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QUOTE(EroTe @ Aug 15 2010, 09:44 PM)
Btw, if want to setup the business in sabah, where to register the company and someone mind to explain the steps in details (for Sabah) only. Thanks in advance smile.gif
*
1. Trading license
Go to DBKK (Dewan Bandaraya Kota Kinabalu) to register. RM 1 per form.

2. Accountant office
Any that you are familiar, and get one Sdn. Bhd. (Cost around rm2k)
leegent
post Aug 16 2010, 01:06 AM

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1st thought in mind
Planning to open design company, providing design solution.

Experience in the field 2year+, currently working as web designer in xxx company.
Reason to open business- initially thought is to increase my income and if success then i can turn it as my career!

Capital to start business- <3k (basically the capital is to get a domain and also web hosting, the rest is the transportation fees to meet clients or promote my website (name card/ leaflet etc)
Employee - myself /finding a partner to work together.

my plan,
1st step- design a website for my own, get domain and upload to web.
2nd step- advertise my website through forum/ name card / fren etc.
3rd step- set target client and try approach and get sales.

if this generate sales and get profit then only
4th step- register a company

Not sure in malaysia, a company just doing design can survive or not? Normally big agency get most profit from advetising and design profit is very low...

Second thought in mind is running E-business.
Selling electronic item- from china.
Capital will need - 6-10k(depend what item wanted to import)
Will get partners for funding

Not sure online business in malaysia works or not...
Quite risky because need to get place to put the goods and also invest money 1st to import....

Anyone experience in running business please give me some advise or any recommended business also can (besides mlm)

TSedyek
post Aug 16 2010, 08:11 AM

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QUOTE(leegent @ Aug 16 2010, 01:06 AM)
1st thought in mind
Planning to open design company, providing design solution.

Experience in the field 2year+, currently working as web designer in xxx company.
Reason to open business- initially thought is to increase my income and  if success then i can turn it as my career!

Capital to start business- <3k (basically the capital is to get a domain and also web hosting, the rest is the transportation fees to meet clients or promote my website (name card/ leaflet etc)
Employee - myself /finding a partner to work together.

my plan,
1st step- design a website for my own, get domain and upload to web.
2nd step- advertise my website through forum/ name card / fren etc.
3rd step- set target client and try approach and get sales.

if this generate sales and get profit then only
4th step- register a company

Not sure in malaysia, a company just doing design can survive or not? Normally big agency get most profit from advetising and design profit is very low...

Second thought in mind is running E-business.
Selling electronic item- from china.
Capital will need - 6-10k(depend what item wanted to import)
Will get partners  for funding

Not sure online business in malaysia works or not...
Quite risky because need to get place to put the goods and also invest money 1st to import....

Anyone experience in running business please give me some advise or any recommended business also can (besides mlm)
*
1. You will get some client referral, but ain't this industry too competitive?

2. What kind of electronic items you want to import? There are various of electronics, some may be sellable, some are just another product which you can also get in Malaysia.
leegent
post Aug 16 2010, 09:57 AM

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QUOTE(edyek @ Aug 16 2010, 08:11 AM)
1. You will get some client referral, but ain't this industry too competitive?

2. What kind of electronic items you want to import? There are various of electronics, some may be sellable, some are just another product which you can also get in Malaysia.
*
1. considering competitive but every industry is same. i would say besides designs skill and prices, marketing strategic and social skill also very important. Im not strong on that=.=

2.reason to sell electronic is because the margin is good. example or electronics-gps/ mp5 players etc. Im not sure how is the trend now, when iphone and ipad coming out...
TSedyek
post Aug 16 2010, 10:12 AM

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QUOTE(leegent @ Aug 16 2010, 09:57 AM)
1. considering competitive but every industry is same. i would say besides designs skill and prices, marketing strategic and social skill also very important. Im not strong on that=.=

2.reason to sell electronic is because the margin is good. example or electronics-gps/ mp5 players etc. Im not sure how is the trend now, when iphone and ipad coming out...
*
1. That why you need to consider it. Sometimes the best business people are those who has marketing skills and strong social skills. Those design talent skills, they just hired some else to do it. Maybe you can consider a partner?

2. If you are not sure, then do your homework 1st before you consider to import those electronics. My opinion? Those items are not selling like hot cakes. Any electronics that are not selling like hot cakes (just to fulfill temporary demand), you need to have marketing strategy to market those items, which will cost you a sum of money. smile.gif
Awakened_Angel
post Aug 16 2010, 01:45 PM

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QUOTE(edyek @ Aug 16 2010, 11:12 AM)
1. That why you need to consider it. Sometimes the best business people are those who has marketing skills and strong social skills. Those design talent skills, they just hired some else to do it. Maybe you can consider a partner?

*
I think the most important skill is the skill to convince people.. or psycology warfare....

be it convince your customer, your employee to fight for you, to work for you till they retire or your supplier to give you cheap pricing

and this skills cant be learn from book....

and i notice that those who excell in books are not that good in this skills....

I have a friend, who failed in his studies are a grest public speakers... he speak with broken english and can convince crowd of 1000 people hmm.gif
boringz
post Aug 16 2010, 02:07 PM

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to me, convincing, public speaking, employee loyalty, requires 1 thing.

to win over people, you need to have the passion. hard to explain it in words. but if you have the PASSION, you can really convince people really really well!

getting cheap pricing, to get good business deals, this 1 requires the art of negotiation. comes from experience.
TSedyek
post Aug 16 2010, 02:30 PM

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QUOTE(Awakened_Angel @ Aug 16 2010, 01:45 PM)
I think the most important skill is the skill to convince people.. or psycology warfare....

be it convince your customer, your employee to fight for you, to work for you till they retire or your supplier to give you cheap pricing

and this skills cant be learn from book....

and i notice that those who excell in books are not that good in this skills....

I have a friend, who failed in his studies are a grest public speakers... he speak with broken english and can convince crowd of 1000 people  hmm.gif
*
QUOTE(boringz @ Aug 16 2010, 02:07 PM)
to me, convincing, public speaking, employee loyalty, requires 1 thing.

to win over people, you need to have the passion. hard to explain it in words. but if you have the PASSION, you can really convince people really really well!

getting cheap pricing, to get good business deals, this 1 requires the art of negotiation. comes from experience.
*
That's the reason why One must join Toastmaster club in order to gain public speaking skills. Learn how to talk to people. biggrin.gif
Awakened_Angel
post Aug 16 2010, 02:45 PM

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QUOTE(edyek @ Aug 16 2010, 03:30 PM)
That's the reason why One must join Toastmaster club in order to gain public speaking skills. Learn how to talk to people.  biggrin.gif
*
not quite.... one may be good in public speaking but cant really convince people....

like you cant ask a excellent public speaker to talk like politicians that is able to convince and change how we think....

talks like martin luther, hitler, mahathir gave......
TSedyek
post Aug 16 2010, 02:50 PM

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QUOTE(Awakened_Angel @ Aug 16 2010, 02:45 PM)
not quite.... one may be good in public speaking but cant really convince people....

like you cant ask a excellent public speaker to talk like politicians that is able to convince and change how we think....

talks like martin luther, hitler, mahathir gave......
*
Excellent public speaker has the power to convince. In order to give talk that can convince people, one need more than just public speaking skills. biggrin.gif
Awakened_Angel
post Aug 16 2010, 02:51 PM

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QUOTE(edyek @ Aug 16 2010, 03:50 PM)
Excellent public speaker has the power to convince. In order to give talk that can convince people, one need more than just public speaking skills.  biggrin.gif
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I believe the word is charisma
boringz
post Aug 16 2010, 02:51 PM

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haha. public speaking... depends again on passion!

a lecturer is doing public speaking! but why does most people fall asleep in class?

compare it to some of the speakers in TED who knows their stuff. its really different.


Added on August 16, 2010, 2:53 pmfriendly and funny works too.

This post has been edited by boringz: Aug 16 2010, 02:53 PM
TSedyek
post Aug 16 2010, 02:56 PM

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QUOTE(Awakened_Angel @ Aug 16 2010, 02:51 PM)
I believe the word is charisma
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Correct correct. Good usage of vocabulary. rclxms.gif
Awakened_Angel
post Aug 16 2010, 03:05 PM

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QUOTE(edyek @ Aug 16 2010, 03:56 PM)
Correct correct. Good usage of vocabulary.  rclxms.gif
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another word.... Inspiring....
boringz
post Aug 16 2010, 03:06 PM

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hitler is inspiring and charismatic! hmm.. damn. he's good.
hackwire
post Aug 16 2010, 09:52 PM

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lecturers are boring because they never even run a business or open a shop in reality . they are just book worm that's y student fall asleep as they lack real experience and story to tell. So now , do u still want to believe college here is really the stepping stone??


Added on August 16, 2010, 9:53 pm
QUOTE(boringz @ Aug 16 2010, 03:06 PM)
hitler is inspiring and charismatic! hmm.. damn. he's good.
*
missionaries and gods messengers of the past too.notworthy.gif

This post has been edited by hackwire: Aug 16 2010, 09:54 PM
Awakened_Angel
post Aug 17 2010, 09:22 AM

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QUOTE(hackwire @ Aug 16 2010, 10:52 PM)
lecturers are boring because they never even run a business or open a shop in reality . they are just book worm that's y student fall asleep as they lack real experience and story to tell. So now , do u still want to believe college here is really the stepping stone??

*
they dont accept out of the box mentality.. they are used to the "I say, you listen and follow.. no question asked" meantality

I still recall I were slapped by my math teacher cos i ask why pai is 3.142 and not 2 or 3 or 10 ?? doh.gif

its a different thing when I study in UK... they encourage such questions

This post has been edited by Awakened_Angel: Aug 17 2010, 09:22 AM
subrok007
post Aug 17 2010, 09:36 AM

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QUOTE(Awakened_Angel @ Aug 17 2010, 09:22 AM)
they dont accept out of the box mentality.. they are used to the "I say, you listen and follow.. no question asked" meantality

I still recall I were slapped by my math teacher cos i ask why pai is 3.142 and not 2 or 3 or 10 ??  doh.gif

its a different thing when I study in UK... they encourage such questions
*
y dont u ask him/her how come u slapped me, is there i asking wrong question here or u cant answer my genius question?.. flex.gif
TSedyek
post Aug 17 2010, 09:45 AM

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QUOTE(Awakened_Angel @ Aug 17 2010, 09:22 AM)
they dont accept out of the box mentality.. they are used to the "I say, you listen and follow.. no question asked" meantality

I still recall I were slapped by my math teacher cos i ask why pai is 3.142 and not 2 or 3 or 10 ??  doh.gif

its a different thing when I study in UK... they encourage such questions
*
That's the difference between Western and Asian Education. smile.gif


Awakened_Angel
post Aug 17 2010, 09:51 AM

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QUOTE(subrok007 @ Aug 17 2010, 10:36 AM)
y dont u ask him/her how come u slapped me, is there i asking wrong question here or u cant answer my genius question?..  flex.gif
*
capitalism mahh


Added on August 17, 2010, 10:03 am
QUOTE(edyek @ Aug 17 2010, 10:45 AM)
That's the difference between Western and Asian Education.  smile.gif
*
i am middle class students... not first class ma... the teacher think I am fooling around... but in fact I am not.... when I was form 4 I was already reading college physics... as form 4 & 5 physics cant satisfy my curiosity laugh.gif

many 1st class students beh song when I scored A1 in my SPM while they get A2 or B3 tongue.gif

This post has been edited by Awakened_Angel: Aug 17 2010, 10:03 AM
SUSalexcky
post Aug 25 2010, 07:09 AM

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Hi

we are a financing company arranging business loan.

Criteria for this loan are the business must run on 2 yrs & above.

currently we are having promotion for those success application with a free "Home security system" worth RM1000++

pls email enquiry to us at info at ayubarra.com

cheers
TSedyek
post Aug 26 2010, 09:22 AM

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QUOTE(alexcky @ Aug 25 2010, 07:09 AM)
Hi

we are a financing company arranging business loan.

Criteria for this loan are the business must run on 2 yrs & above.

currently we are having promotion for those success application with a free "Home security system" worth RM1000++

pls email enquiry to us at info at ayubarra.com

cheers
*
What is the maximum loan that your company can afford?
SUSalexcky
post Aug 26 2010, 10:58 PM

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QUOTE(edyek @ Aug 26 2010, 09:22 AM)
What is the maximum loan that your company can afford?
*
depend on the business turnover..the maximum loan that approve so far is RM3mil
to check for amount loan that can borrow u may send ur enquiries to info@ayubarra.com
from there we will let u know all the procedures

currently we have few application from lowyat members too..

thks
SUSFuturewyatt
post Aug 27 2010, 11:56 AM

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For me bussiness is bigger than can be think.If the salary RM 300 but the company is yours and company do some project itu ini later can smile.and sometimes can smile sorang-sorang.Why i `crazy` with bussiness?

because the power of bussiness.its unlimited.its big.if the bussiness in the right hand it will become the most greatest bussiness in history.

LimGohTong English also dont know.but look what he can do.

This post has been edited by Futurewyatt: Aug 27 2010, 11:58 AM
Tror
post Aug 30 2010, 05:37 AM

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hi, im still a student but i wanted to start a business so badly and this is my 1st business so i hope can get come advice from u all:)

my plan was starting a bulble tea + waffer shop near my college..

i had check the rental is aproximate 1.2k.
the machine aproximate 5k for everting i needed
one helper around 1k a month .

im seeking whether my calculation is correct ? and should i anything i should add in as consideration? THx:)

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