With economy going down, many /k started asking question about starting their own business.

My advise is: "Don't."

Many people like you had a decent job but decided to venture into the business world & end up going back a 9-5 job instead, and no it's not because they lost money or business was bad, these are the secrets no businessmen will tell you.

1.Being the Owner is very different from being an Employee, Employees typically work 9-5, once finish work they don't need to worry about job, some work OT but they get paid, some prefer to bring their work back home but it's their own choice. Thing is most employees don't need to think about their jobs when they go home. Owners, on the other hand, have to think about their business & work 24/7, while you are happily streaming youtube or browsing fb at home your boss is pulling his hair thinking about the business.

2.You don't need to worry about Company's revenue, it's company's money, boss problem, not yours. You do your part that is all you need to do. Boss, on the other hand have to think about their financial status 24/7, worry about shareholders, worry about company sustainability, worry about not able to pay their employees, worry not able to give good bonus to employees, worry about stock value falling, worry about not getting their business licensed renewed, worry about local religious agencies, worry about local councils etc.

3.You might feel you are the one doing all the jobs, and boss looks like goyang kaki, well, if their job is to look like what you are doing why bother hiring you? Because many things they need to do don't get shown to you employees like they show in the movies, they have to handle higher level jobs that you cannot handle, like lobbying with government, finding & negotiating with clients & suppliers, making crucial decisions.

4.Boss need to worry about business survival & bankruptcy, you don't need to worry about anything even if company business is bad. worst case company close down you find another job in another company, while Boss, lost money is lost and they have to find ways to recover, might take 3 years, might take 20, some never did.

5.Boss have to worry about how to use their wealth, with so much money comes so much burden, which car to buy? which house is better investment? should they go Tag, Rolex or IWC? Which golf club is better? They worry what if they bought the wrong Ferrari that doesn't suit them? What to do with so many golf clubs at home? Which country should they go for vacation? You on the other hand has much less to worry about because you can't afford many things so you don't think about them, you just focus on few things in life, and since you don't have much choice you feel easily content. Content means satisfied, a satisfied person is a happy person. You don't have to worry about the money in your banks. Remember this:"You are not your bank account(s)". Having more stuffs also means more "Weights" in life.

6.Boss have to make wise decision in who to hire, who to manage their operations, who they trust, who to befriend with, whom to Marry, who won't betray or take advantage of them while you, anyone also can be friends because you are just a normal person, so they say sugar attracts ants, you have less sugar, so less ants.

7.You can take rest during office hours, take a smoking break, browse /k, play handphones, because you see your boss always playing with his phone(s), well what you don't know is he is probably texting the financial minister for business opportunities while you are shooting angry birds down. You think you are doing the same thing your boss is doing, well, think otherwise.

8.If things go really bad, you can just pack up & leave, business owners can't do that, they have their business, and employees to take care of.

9.Boss income varies, while yours is fixed. Yea on good years they make more money, but on bad years they have to pay your salary out of their own pockets. You know you can pay your car loans next month because you will have your fixed salary, boss have to lelong their houses when business is bad because they have to pay your salary so you can continue servicing your loans and not get your car towed.

The responsibilities & stress business owners carry is too much, losing sleep is a common thing, this is why many business owners decide to go back to their 9-5 deskjob because it's much easier. You, on the other hand, want to jump into the fire, they came out from the fire burnt telling you not to, but still, you jumped in, and get burnt.

ini soalan ke cadangan

WHere you copy that wall of text?

oh and tldr

open business become a boss is not easy....

i wont say you are wrong but not entirely right either

depends on what kind of business are venturing into

even small online biz you have to spend your free time and then think about the sales when you sleep. i say enjoy your 9-5 job & #YOLO after office hours.

make so much money also no use if you cannot enjoy life truly.

there are things money can buy, there are also things money cannot buy.

more money you have, more to lose, which holds you back in life.

That is the truth. Only go for it if you can afford the learning experience.

Very recent example one of my cousin quit his job to open a business which would be a conflict of interest while still employed. End up having to price down to get customers which will go to anyone who price down.

Across all industries , very few have high margin. Most are just kinda making it hence ADS everywhere

What you are implying is a good knowledge and quite good details of what is going on and off.

I have to agree partially though.

What I don't agree is only to the point whereby some employee jumping into the fire whereby unless we know exactly what industry they are jumping out into and whether they have substantial amount of clients to serve. It's really hard to judge then.

Yes, there is a lot of secrets of success and failure which we don't get to know or shared in order to prepare oneself to handle their venture well.

After all, no risk, no gain.

If your expertise as well as your clients are constantly coming to you rather than your company, any soul will start to think why not taking this venture by starting a business?

I know it's not exactly what I mentioned above happens to many entrepreneur outside, after all, it's supply and demand kind of thing.

When it's good, they reap from the profit. Otherwise, they either can think of a better plan or like you said, going back to 9 to 5 desk job.

Nobody said it was easy. If it was easy why would everyone bother looking for a job?

ini cadangan ke soalan

Hire employee and competition are problems.

i can say majority of people here thinking of jumping into a sector that has little to do with their job & expertise, like opening restaurants when they don't know how to cook, or never cooked in their life, or jumping into cafe, clothing, fashion, and most of them know nothing about economics, finance & accountings.

rarely people venture into the business they profess in, because they know entry barrier is high and lots of hidden tapes or cables you need, so they gave up their profession and venture into something they think is "Open Market". Not knowing there is no such thing as Open Market, every Market has their Big Players, just some you don't see them because they open shops with different names or under different companies.

those that start their own biz in their professional field usually highly skilled in the field, but these people are very rare, usually they get promoted high enough or gets some perks so they don't leave their comfort zones, many that do, end up going back as employee due to the stress that came with the money.

sure, tell you you will make $1 million this year you will raise both hands without thinking, later, you start to regret the time & effort & stress involved.

most people find job because that is how they are brought up for. Study, Graduate, find job, marry, have kids, raise kid, retire, rinse & repeat.

many think about start own biz and work is just temporary, that is why majority employees in Malaysia are lazy & don't put effort into their works, always day dreaming about their American Dream.

You know not easy, but most /k don't agree with you.

i believe if you have a strong business plan, you wont fail.

everyone can blame the economy when it is bad but are you saying no company will survive during bad economy?

example of two companies that was doing extremely well during this current economy crisis is Hap Seng and Ekovest. These two companies are not selling ordinary goods which ordinary people can afford to buy. They are selling luxury products which costs a fortune to some. Yet they sold even more as compared to better economy days.

I don't know about enjoying one life right now when I can't see myself progressing in the sense of having my future investment protected.

Yes, work life balance is important rather than having so much money when one will only end up using the money to treat themselves in the hospitals. But, you do know that raising cost of living is something not to be ignored though.

What you are working hard right now, might or might not be able to reap good profit in the future. But if we are to perceive to live adequately, how can one sustain and live in this constant changing environment of our world?

We can always live and think simple, but our life in our country will never ever be simple.

Long time ago, Alibaba Jack Ma was seeking funding and advice from his best friends

His friends reply was "don't"

The initial Alibaba got delayed but now...

alright /k. you heard TS. jom semua makan gaji saja.

we aren't talking about failure bro. failure is just part of the business. but the stress is not most people can handle.

Well when you're young it's actually the best time to come out and do business. Most people I see earning 5k and above with either a house or car to pay would not consider since they area already in the "zone".

TS mau less competition.

Eh, I am one of the people who quit my job and doing online business.

Last month i get to sell 10 pieces but this month none yet.

If you want to start a business, just do it. Why the fark you want to be so calculative? U better do it when u r single, better if u r married coz u can leech ur wife revenue a bit.

See, the tricks is work hard. If u r employed, work hard, same when u r doing business. Dont just stare at your business, learn to improve. Watch youtube, buy book n ebook. If u hav more money, take seminar or coach.

Doing business is fun. If it fun for you, then do it. Just that definition of fun is different for different people. Im not the type of fun that is sex drug n alcohol. I like when a strategy worked or when i beat the odd.

Yeah, there even a saying if u have never fail business then u are not a businessman yet.

because media tells you Health is more important than Money. Without Health got money also not much use.

but wait until economy reach it's abyss. that time, you want health also no money to buy.

agree

please get a salary man 9-5 job

the income will get better and over time will get higher promotion

don't become a businessman

you expect too much in life, be prepared to get disappointed big time.

there is a reason why Kampung folks & less intelligent people are usually more happy & content with their lives even though they are poorer than smart big city people like you.

think out of the box.

that is the story he tells you. in fact, that is the story all successful businessman tells you.

they will never tell you the real story & their true secrets.

You don't even know who is behind Jack Ma.

I actually dread on this prospect. Our job market is not improving. If I have to do low end job, i better start a business now. Do it when failing does not matter that much.

Point 5 😅
Very /k

ayam not starting business in malaysia so no need worry

business world like green virgins like you. taste nice & tender to bite.

Yes, often times I do heard of that but most of the time, they tend to forget about their plan like cafe, clothing and etc. There might be others jumping into a sector due to their personal interest or conflict which I came to know a few, whereby they did very well in the engineering line and they choose to open the door and jump into the sea in search of their life.

Mind to tell you that three of my friends did that last year and I found them doing quite well although not as good as being employed and they seems energetic chasing after what is more actual life-full kind of objectives.

From one out of them, he utilized his professions as well as his connection which really helps him a lot though.

It's hard to believe hard work really pays off nowadays unless we consciously know how to break the barrier and plan ahead.

if your business no need much money or you have the money to splash then feel free to.

assuming you can handle the stress of 24/7 thinking about your business.

wait another 10 years come back here & update us.

Fire is always fiery the early years. Just like chicken droppings is always hot for first 3 minutes.

Bro, it is the same formula for everyone.

First u learn to talk business language, then u use it to build a network. The better ur network, the better ur business will be.

That is why when doing business, u r not limited to staring ur sales and revenue. U have to do the other things like improve network, improve ur marketing, improve ur social. Then when u have strong core of a businessman, people will likely to collab with u.

Actually, it is just the same dance as working as employee.

#5 topkek

Meh, the way u want to go with doing business is not focusing on business itself, but focusing on u. When u improved, ur business will improve.

The reason u are stuck 24/7 with ur business is lack of knowledge. Keep studying and research. Improve urself, then u will find it easy to do it.

yes please stick 9-5 or 10-10 job ... dont venture into any business ...

Let me simplify that I was referring to work hard and save for future. I'm not expecting much but at least some financial backup when I might be struck with some incident which requiring me to some financial assistance.

It's not really about expectation that I working onto but rather misfortune things happen where asking for help is simple out of questions then.

Yes, those rural folks are more happy and content with their life. Can you drop whatever you are doing right now and move to rural areas and live your life as new?

If you can do that, I bet you won't even need to open this thread then.

Sorry if I might sound offending but I'm not.

key points for anyone looking into setting up own biz:
1) do you have the knowledge/expertise in the biz u're venturing into?
2) have you considered all the risks - financial, operations, biz
3) short term and long term plan
4) do you have sufficient capital to weather any uncertainties

TLDR : take a calculated risk. don't buta2 start biz

World is never easy la ....... in WW1 and WW2 all the front liners who try to win a battle die, you think they got any chance to succeed if they chicken out like you? Sacrifice had to be made in an attempt to have that possibility of winning.

Also if everyone is kept with the mind set of "Oh I'll just keep working for a boss only no need to worry about anything else" you will then never learn or improve your salary will never go up.

Part of working is to understand how a business work and able to share boss problems, when you are very good at it those are no longer problems those became challenge. One day when your boss want to retire or when you are old and experience enough a boss would hope you carry that banner and become your own boss.

Company that hope you become worker forever are not worth staying, because they are not letting you grow.

What I sense in your advice is "gain more experience" before consider venturing into business especially if its a totally unrelated field. Don't rush and butt head a wall you don't know what its made out of"

But instead your list of words make it sound like "Don't ever be a boss".

they way you say it either you running a small business you don't really care if it fails because the stake is low or your running a Billion dollar corporate with full staffs & assistance to handle to day to day business operations and you just need to consult & sign.

that is why insurance & medical saving schemes are there. also there is FD to cover inflation.

As for your 2nd question, i'm sure for most people, as long as there is electricity, water, internet & good security and easy access to food & post office they won't mind moving there. problem is they can't find the job they want.

That's why I so respek those business owners. They are job creators. They take credit for the risk they get themselves into.

Nowadays, with jamulakilla and his goons, is scaring away business sentiment here. their actions are actually encouraging business owners to go overseas because of the childlish ways they are going about.

passing the torch doesn't apply in Malaysia.

no matter how great you treat your boss & how much he likes you, he won't pass the torch to you, at most he wishes you all the best. you are not related to him.

in US maybe, like Buffet, but not in Asia countries.

Although I might have been pessimistic about life and how things have been so far, I certainly wish them all the best.

Everyone has to work out something no matter its good or bad. It's just how one started to venture by themselves which they have to deal it.

For better or worse, be prepared to change, optimistic, and most importantly constantly improving oneself.

Bad things happen all the time but that doesn't mean to everyone.

At /k, we get to see a lot of true or not so true stuff. That's life. Life has different perspective from what we can see and hear.

Just try to work for the difference.

Ts troll at no.5 for sure

Thanks for sharing. Appreciate it.

when they start to do well you will not hear from them.

so check back with use when they finally give you a call.

i am own boss

i work 6am to 8pm

cant take leave

work on saturday & sunday half day

& so so so ooonnnn ...

Ppl think being own boss easy you just let them be lar, some ppl never hit brick wall won't understand wan de

My friend, if you do a little bit of calculation, you will be afraid that FD somehow doesn't cover inflation but maybe half of it which is better than none. If you want to, you might need to learn how to allocate your fund into other investment in order to help you stay or beat the inflation.

I don't think rural area people need to focus on internet and good security though. Electricity and water is essential as well as other amenities. I don't think food is a major concern whereby if you can either grow your own or mingle with your neighbour in a community kind of lifestyle of stuff.

I used to stay in rural areas during my childhood in Gemencheh, try google it and it's a small town. It's easier to say that life there is really lay back, but can anyone live within their urge on basic electricity and water?

If you think job is stopping one from moving there, I guess it comes to a point whereby there is no other alternative than to either work for an employer or be employer and work for it.

I'm sure ASB return is much higher than many business.

Go big or go home ma

Yes, in fact, if you are comfortable with what you are doing and living, I'm pretty sure everything is fine and anything can be worked out in the near future.

All the best to you then.

Bro, some of people i met, loss a lot more.

They themselve is not from wealthy family. But they survived. That is why knowledge is important.

I am not refuting ur words on working first then do business but to avoid it altogether is also wrong.

Anyway, maybe u can mingle out more, talk with those who at 5th year doing a legit business. I think they are at the right time, exp enough but still have a long way to go. They are more than happy to share their knowledge and exp.

Just so u know, even if u want to be an employee, u also need to learn almost the same thing. Social, technical, management. Unless u aim to be a cashier until ur grankid, if u dun have these, u r screwed.

Anyway, just to counter balance ur gloomy perspective on business, just remember this, I am one of the million of degree owner that is literally unemployed. There will come a time where ur company will sack u for cheaper alternatives, or because they downsized, no raise in years, and even increase ur workload without paying u more.

Job security? Have u ever heard of company that will not fire or let go their employee, even their best one? Thought so.

I think people are forgetting 1996~1999.

My father is one the people got VSS. Till now i resent Sapura for it.

Well, I am not cursing people to get VSS or worse, laid off. But it is just a proof that being an employee is not that rosey.

easy way is ask them would they make a different choice if they had one (i.e not venturing into business). 9/10 will tell you yes unless they really successful and money is all they care)

I think people are forgetting 1996~1999.

The amount of suicide cases on businessman & investors facing bankruptcy.

I'm sure if in Japan, it's common for employees do suicide over the lost of their jobs.

When economy down, rich people won't be affected. Big Mama still shopping hanfdbags. Apa dia kesah.

So yeah, targeting high-end market is good. Always got people with too much cash. Instead of targeting the people who is scrapping for cash.

Japan culture is different. It's like once they got a job, they stick to it till die. Job hopping is not a norm for them.

Everything has their setbacks.

Either work out for the difference or stay indifferent.

If got VSS with good compesation ok lah. VSS with no compensation then die lor.

ya thats why ts theory about stress la fail la should not be here... oh wai.... sembang je kuat tapi masa buat xtau...

you not born with silver spoon you try to act like you do you choke on the spoon you try to eat with.

no big head don't wear big hat.

those people got silver spoon no work biz will also be good.

if you have to explain, then you are not a successfull businessman

Ur logic is flawed. If they care about money, why do business in the first place?

Every veteran who do business understand that business only give the potential to earn a lot of money. Being an employee is u guaranteed to earn money. Business u hav to spend money to earn some, employee earn money to spend.

9/10? So far the 1/10 that i have met is very positive with what they are doing. Some are still learning like me, some are teaching for fun.

But actually i dont mind people staying to be employee, just like i dun mind people want to rent house forever. As pity as i can be for those guys, i still need them to be my future employee, and i need people to rent my future real estate. I also pray everyday our economy to flourish so u all got big fat bonuses then buy my products.

Dun hate the game.

Lol I thought Hap Seng sells biscuits

What do u mean by this?

it has nothing to do with being born rich here... its about whether can he do the business or not right....
anyone whether rich or poor also can make it out there despite whatever situation wan ma...

indeed

some can just be a shareholder or sumthin by dumping their money to invest

no need so headache to run a business

This.

I actually said this to a guy who do business more than 20 years.

I say they are born rich, they have good start.

Well the bro said almost the same thing. He ask me back, if that guy does not know how to run a company, doesnt his company will shut down in month?

You are forgetting that the boss can understate company profits and pocket the difference.
You are forgetting that the boss can increase your responsibilities without increasing your pay.
You are forgetting that the boss can terminate you with 0 repercussions towards them - industrial relations in the country now favours employers massively.
charleshector.blogspot.my/2012/12/10000-workers-denied-right-to-court.html
You are forgetting that the boss is asking for loyalty while not rewarding it.
You are forgetting that the boss is asking for well-trained staff while not providing their training.
You are forgetting that most bosses have little to no qualifications in their industry and are merely salesmen who make promises on behalf of the engineers.
You are forgetting that if bosses keep saying their companies are not making much money, they need to close up shop or start working for charities.
You are forgetting that bosses have trouble showing gratitude to staff, and have only demands and complaints.

Wonder where bosses would be if people really rose up.

exactly... rich kid have the upper hand of having what they want easily but it doesnt mean they can do well despite having the opportunity to be exposed more...

on the other hand poor kid might not have all the opportunity to do anything but they value what they have and in fact this point might give them the upper hand to do even more better...

i dont know if ts realized many of billionaiers started off with poor background... not all are from rich family.... im talking about those that are really successful and started by themself... not those inherited business ok...

then either the money invested means nothing to you or you have no interest in the business. chances are you gonna say goodbye to your money anyway.

Thank you for TS advice. I think i will venture for business also.

And the first point, no need to worry about work after working hour. LOL.

This post has been edited by andrewcha: Jan 12 2017, 12:43 PM

Hap Seng is one of the property developer also

you want to talk about work during happy hours it's your own problem.

I need to prepare stuff for tomorrow work though.

Oh sorry it's hUp seng

yea and i need to fill up my water bottle & bread box for breakfast.

next thing you will say I'm thinking about work on my way to work before work hour starts.

With these kinda reply from you seriously I feel sad for you for so much negativity in your mind. Ask people dont do business sembang kencang when you havent try before.

no because when we say no need think about work we don't mean thinking about getting up early next day for work or prepare some documents put inside your james bond bag, making your sandwich & worry being late to work.

Totally agree!!

I am doing biz for more than 5 years...

My brain didnt stop thinking since then...

But if you give me chance to choose again, i will definitely do biz.

I will teach my kids do biz as well.

Beside the monetary gain, the IQ EQ attitude communication skills wisdom philosophical gain are priceless.

want to teach teach when they small, not until they finish study then teach too late.

Of course... will play business related board game with them..

Addon :
Before i run business, every month i am behind the bills..
After i run business, every month still i chasing business expenses,, but i never worry about my personal financial spending.

The feeling is totally different.

But that is one of my reason to do business, to have something for my kids to inherit.

The founder cry blood tear. How many corpse they have to climb to build a stable business. One of the perk is that ur kids can inherit ur wealth and have a good life.

Employee, they cant give shit to they child. They can pay for college fees or buy pay for their first car, but that is it.

Like I said, Im not saying which one is better. Finding out whether business is for you is a part of knowing yourself.

remember back in those days you have to shed blood, but it's a free for all market with lots of untapped business waiting to be explored. it's like Gold Rush or Black Gold Rush.

nowadays, human has yet evolved to a newer level, as such, markets getting smaller as big players continue to grow & outpower smaller players.

for example, do you know any land in Malaysia that doesn't belong to anyone? all lands belong to someone, those that don't, belongs to the state's ruler.

unless for example human can start to listen to wider range of sound frequencies, the potential of music is very limited as you only have so much tune to work on.

Malaysia market is already all dried up. For your grandfather era, maybe many people have a chance at making it big, but now, you not have to face your piers, but also the established big players whom's too big to push.

a wiseman once told me...
building an empire is easy but maintaining the empire is impossible....
but then again... i dont think it applies to all.... it depends very much on individual and how is the current situation for that industry.

a wiseman also told me, it's easy to say easy when you already done it because no matter how difficult it was it no longer matters so everything is easy.

friend... to be a better person in life... try to see things in a more positive way.... everything negative will make your life very miserable... this is my advise for you... not a wiseman... ok??? peace

while it's good to be +ve it's suicidal to ignore the facts.

you know what they always say:"Walk away from the bright lights."

if you have a chance to ask the wise man again, ask him, if you were to start from scratch now, would it be easy?

jual buntut lo

hei.. any advise given to you just take it with a pinch of salt... everyone is different in their thinking... the wiseman that told me that was a lawyer... you dont expect a professional to teach you how to do business right???