Hi all.

I failed 1 business before (T-Shirt printing) with estimated loss of RM40K.

2nd business (2014 till now with RM100 capital), i involved in food business (cakes) by doing it direct selling. I really loved this kind of selling approach because it really push myself far out of my comfort zone (adrenaline), force me to think even harder.

Profit margin is 30% but the good thing is i always maintain certain volume which can give me over than RM120 net profit per day. Malas day still can produce RM60++ net profit. Still worth it because i don't have to pay salaries, or rental.

I suggest you guys try this business and it will open your eyes and boost your financial IQ. Lets start small.

No large machine. JV with 4 other friends, all inexperienced. For start up, we only bought huge quantity of ready made T-Shirt, small printing material & equipment, a computer, printer, brand tags, and rental fees. Balance around 9k, we didn't wait long and enjoyed the money like there's no tomorrow. FYI, i made personal loan from bank for that 40k. As that was my first business, i was greedy and blindly jump onto it.

Lucky us, for the first month, we made small profit of 2.5k with sales worth more than 10k. But our stupidity, we don't keep track of cash flow & budgeting. Sometime, i myself put a few ringgits into my pocket to pay the toll, gas or personal expenses - out of record. Yes, it was that bad, no integrity and discipline.

4 months later, bad things happen. We fall apart and only 2 of us left to handle the business due to personal argument. Sales turn zero, expenses increase but it doesn't affect our bad habit of using company's money to pay our personal spending. We no longer afford to pay the rental and was kicked out of the space after 3 months outstanding payment. But we still don't give up, we tried to sell it online and sometimes looking for opportunity to rent-a-day space in music fest, gig, or any exhibition. Result still same, sales were very slow and couldn't catch up with the expense such as fuel, rental, salary and anything. Tried to do consignment but nobody want to take. We worked day and night, and when i recall, it was very very exhausting.

Year later, i give it up and let the friend handle it since i were about to get married. My friend still doing the business but from what i heard, the business was like hidup segan, mati tak mahu.

U welcome.

Yes, total 40k is business capital loss which all funded by me. The other friends can be assumed as employee, but with profit sharing + salary. See how dumb it is, me as the head of the company had totally failed. But still i don't blame them for that mistake, because i am the one who should bear the responsibility.

I thank that loss and bad experience, because it just moved me to the next level. Now, i am starting low. Very low risk. Dunno, my habit of spending changed totally. Now i know how easy it is to make money. And also how to spend money

No, i don't have any shop but i do hire people (only one (permanent) or sometime two - Part-timer). I am currently working (This is due to my strategy of buying property by using Other people's money - Bank).

I do selling after work and weekend, together with my employee but we split into two location to optimize selling time. Direct selling in my case is = Imagine a typical Malaysian movie about poor boy with huge basket shouting "cake, cake, cake". This is why i call it 'far out of my comfort zone'. I believe in phrase 'You make money when you do something when other peoples refuse/shy to do'. I love rejection and i will (if any) counter it by positivism. Instead of scolding me or halau me from selling, most people that i approach, no matter they buy or not, they will encourage me to keep doing what i do. If you act down to earth, you'll found that most people will get to like you. What i discovered in a few months back is, the most important skill of doing any direct selling is your interpretation and the appliance of non-verbal language (I'm not lecturing you guys i just sharing my experience.

I am now at Kota Kinabalu, Sabah. First business is in KL, but i moved here because i was transferred by my employer a few years ago. I love too, i really love to hear advice or other people's opinion, because that is how i transform my way of thinking.

Thanks.

Sure
By the way, i'm still in process of learning.

By teh way sammich, mind sharing what business you are in?

1. Do budget surplus.
2. Do not overspend.
3. Repeat till rich.

The most difficult thing to apply is the above mantra. I myself failed many times, you know family needs.