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 how to make hobby become a business/career?

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TSyEsorNo
post Jul 19 2006, 02:54 PM

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maxi, thanks for ur advices... my problem is that, i dunno where can i work at, like the normal hifi shop? supplier? or manufacturer?? the salary will be very low if compared to work as engineer, right??
Maximilian
post Jul 19 2006, 04:24 PM

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http://www.lhm.net.my/profile.htm

Companies like this is a good platform for a career.

There are more audio system companies in Malaysia. You can try Kenwood electronics if you are damn good in technical stuff. Design noiseless amplifiers for car audio or home theater system.

Also, you can also go in to trading (sell audio systems).

Still, it all boils down to some determination.
TSyEsorNo
post Jul 19 2006, 07:07 PM

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QUOTE(Maximilian @ Jul 19 2006, 04:24 PM)
http://www.lhm.net.my/profile.htm

Companies like this is a good platform for a career.

There are more audio system companies in Malaysia. You can try Kenwood electronics if you are damn good in technical stuff. Design noiseless amplifiers for car audio or home theater system.

Also, you can also go in to trading (sell audio systems).

Still, it all boils down to some determination.
*
kenwood electronic? is there any factory in malaysia??
TSyEsorNo
post Jul 19 2006, 07:18 PM

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QUOTE(Maximilian @ Jul 19 2006, 04:24 PM)
http://www.lhm.net.my/profile.htm

Companies like this is a good platform for a career.

There are more audio system companies in Malaysia. You can try Kenwood electronics if you are damn good in technical stuff. Design noiseless amplifiers for car audio or home theater system.

Also, you can also go in to trading (sell audio systems).

Still, it all boils down to some determination.
*
beside lhm and kenwood, any other audio company... it is quite far for me to work in jb... prefer puchong, pj, shah alam, and kl area
ah_suknat
post Jul 19 2006, 09:47 PM

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bro, alot of fresh grad now a days are umemployed???why??is it because there's no job for them???no!!because they are soo choosy about their job, they will say, I study in hotel management, so I must do hotel job so that i wont waste my college fees, I studied Engineering, So I must do engineering work, when there are so many job oppurtunity out there, or may be open up your on business.

I study hotel course my selve and spend 30k just the school fees only, If I have the mentality like that I will still stuck in malaysia doing low paid hotel job, but now I am in england doing 6k a month and its not even related to what I ahve studied, and I have earned back my college fees just working for 7 month.

my point is, dont let what you have studied block your future, what you have studied can be an advantage, not totally wasted.before I came here working, lots of my fren also said to me, why you want to jump?why dont you just work here in malaysia, then your 2 years study and money all wasted la???If I listen to them that time than I am still stuck in the rat race.

I knowthis may saound hard, but try to convince your parent, Hang Hang Chu Zuang Yuan, if you know what I mean
ah_suknat
post Jul 19 2006, 09:57 PM

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I think there is some one wanna become DJ here, you can ask him.may be both of you can work together, its some how related.
SUSspanker
post Jul 20 2006, 10:09 AM

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QUOTE(yEsorNo @ Jul 19 2006, 09:22 AM)
do you have any idea on how to make hobby become a lifetime business? let's say, got people like small animal, and etc. for me, i like audio things, speaker, amps, and etc. btw, i dont have sufficieint knowledge on this, so, what should i do? furtheremore, i scare not much people is willing to spend such money for a good audio set.....just like many audio shops in shopping malls... closing down one by one... really sad... so, should i take my hobby as my career or business? if yes, what should i do? if no, why? thx
*
First, you need to have a philosophy, and then you'll need a business model. Lets take your example for instance... you're and audiophile right? So you know stuffs about speakers, amps etc. Next, you gotta see what kind of taste you have, do you like loud music? Or crisp sound? things like that. Then you figure out if what is your edge, pricing? quality? service? product variety? And you've also got to figure out which type of customers you want to cater to. If you don't have at least all these questions figured out, you're going to have a tough time doing business.

By the way, there's a fairly new brand of audio products which came out, called SLS or something. See if there's anyone distributing it, if not, this is your big chance buddy.



Oh yeah, one more thing, would you pay for business advice?
rexis
post Jul 20 2006, 11:13 AM

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QUOTE(rexis @ Jul 19 2006, 11:51 AM)
Research, passion, research, passion, action action action, more passion, more research, more action, done, you are there.
*
Of coz saying is easier then doing it. Just like reading a story book is very fun, but writing one is totally different story, if you dont have the passion to motivate yourself again and again and enough action and effort to put into it, you will get nothing more then a conclusion of that you are not suitable for this.

Another example is cooking maybe fun, but to make a life with cooking, is totally a different story - can you stand other people critizising your food? Do you have any streategy to overcome any difficulties? can you stand for hard work and tedious job in cooking? and when you are interested in cooking, remember, to do a cooking business there are also business model, capital raising, and any other details not really related to cooking to deal with. The only way to overcome these is TONS of passion and action, and get someone to support you.

This post has been edited by rexis: Jul 20 2006, 11:15 AM
alqa
post Jul 21 2006, 01:13 AM

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It may be a hobby, passion, indulgence, interest or whatever.... but the moment you turn it into a career, ie a business, you can no longer treat it as such.

from an idea u need to turn it into a business model. from a biz model to turn it into a biz plan. from a biz plan u need to turn it into a biz startup. from a start up u need to turn it into a biz operation. being a biz operation u need to turn a profit. above all else u must make sure that income generated will be able to sustain your subsistence (salary, expenses & such) and at the same time to be able to keep the biz afloat as well as grow and later to expand.

first cardinal rule.... it no longer a hobby, interest, indulgence or whatever... it is a business. none of the items are yours anymore... you need to detach yourself from the merchandise and your ultimate goal will have to be profit.
alqa
post Jul 21 2006, 01:42 AM

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if u are really serious... here are the steps u need to undertake (this is just a simplified guide):


Step 1 - research

what is ur core business
what are ur products
what segment is your market
who are your customer (age, sex, income level)
what can your customer afford
who are your competitors
what will be your market share

Step 2 - biz model

where do u want set up
how big is your operation
what are your channels of distribution
what are your channels of marketing
how much you are ready to invest

Step 3 - Financial plan

u need to draw project all the cost and expenses that u might incur to start and operate the biz.

a. Start up cost including deposit for rentals, company registration, stock purchase, renovation of premise, advertising, etc.
b. projected itemised monthly cost... how much to be spent on salary, rent, utilities, stationeries, maintenance, etc.
taking all these into accounts you'll be able to calculate the amount required for startups and cash in hand to remain operational for at least 2-5 years.

total all this up and u'll have a figure that u need to have to make this hobby your career. then decide whether u have that much moeny or where to get them. if u r going to get loan, put the repayment instalment into your cost too.
u need to do a 5 years management account. including projected monthly cash flow, proforma profit & loss, balance sheet, and projected income statement.

after all this is done... you'll be able to see whether its feasible or not whether u'll be able to turn a profitor go bust... whether to be a business man or a salary-earning coolie.

if ur serious, give it a try, run the numbers and try it on for size. there are many other factors to consider to (ie rising interest rate, inflation rate, changing taste and fluctuation in demand, rising rate of wages, rental, etc)

or if u got the money, i can do all the above for u for a fee.... stop whining and wastte all our members time oredi... why dont u put your money where ur mouth is.
TSyEsorNo
post Jul 21 2006, 09:34 AM

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QUOTE(spanker @ Jul 20 2006, 10:09 AM)

Oh yeah, one more thing, would you pay for business advice?
*
i will take MBA first. i would listen to business advices, but not pay for it lo... haha

 

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