Interesting (yet Hard to Understand) Blog about Finance
Knowledge, wisdom and pretty girls. A very good blog about the current local and global economy, various investment vehicles and generally what ever else that related to finance. The most interesting part is the articles come free of charge, plus bonuses of pretty girl photos.
About the owner of the blog:
- “Salvatore_Dali
- … too young, too old, too sarcastic, too dark, too funny, too charismatic, too poor, too Cantonese, too Malaysian, too frank, …too bad … and die-hard M.U. fan! email: malaysiafinance@gmail.com The content on this site is provided as general information only and should not be taken as investment advice. All site content, shall not be construed as a recommendation to buy or sell any security or financial instrument. The ideas expressed are solely the opinions of the author. Any action that you take as a result of information, analysis, or commentary on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.”
Classic Story – Bucket Carrier vs Pipeline Builder
First of all, maybe you want to enjoy the short video clip before reading my nagging..
Yup, what we are going to discuss here is about YOU.. are you currently a bucket carrier like Pablo and Bruno when they just start to work? Or you have been long be the bucket carrier without thinking the way out like Bruno? Or you are thinking, maybe working on something like Pablo did to build a pipeline?
Ok, I don’t want to sell you anything here more than the idea of differentiating between bucket carrier and pipeline builder; Bruno and Pablo. The same story has been used for especially networking marketing builders to enlighten their fellow prospects and down lines. Yes, it is very true that when you are building a network business, you are building a pipeline for the income to flow continuously. If you are interested in doing that, I sincerely wish you be enough discipline and consistent; and with that, one day you will see your pipeline giving you good passive income.
Up to here, the key word is PASSIVE INCOME. The concept here it how to build a financial vehicle that give you passive income, which is stable, secure and residual. My example above is network business, but don’t limit yourself to that.
In fact if you are smart enough in doing business, all business could be converted to your passive income source. I said “CONVERTED” here simply because, not all businesses that you are doing is by nature going to be your passive income. Only business that run based on a systemized, duplicable system is able to give you passive income. Simple example, being a chef running your own restaurant doesn’t give you passive income. Building a systemized restaurant and buy people’s time to run it for you could more likely give you passive income, which means when you are not being the chef working, you still have income given by the business entity, simply because you owns the business. In a way, you are owning a business as and investor, not the self-employed staff. It is very important to emphasize here that you have to make it systemized hence controllable and the result is guarantee with little effort. Or else you could never jump out from the business – you are forced to spend a lot of time monitoring and maintaining it.
You could be currently wage earner with no experience of doing any business. Anyway don’t stop from searching for your passive income source. The basic step is, start with some investment. Let’s assume you don’t have time to do anything extra that potentially give you passive income after your fulltime job. If you do have intention and able to, you are very encouraged to run some part time business that is able to become a pipeline of income sooner or latter. However, this is not a must though.
Just move one step backward. With your current salary, how are you going to make it your fundamental of pipeline in the future? Let say you are earning a unit lump sum a month, how much are you really put aside as SAVING cum INVESTMENT? If you do not have any, you are not going to have a pipeline. Yes, in typical case, you have one which is EPF. However, just be realistic, EPF is only accessible after you retire. Don’t you want to have something that generate income for you which is accessible at earlier stage? Yes? Then you need to adjust your habit in order to invest a part of your income starting as early as possible so that you enjoy the power of passive income earlier.
So, conclusion is, the concept of PIPELINE BUILDING is extremely broad. There is not only one single explanation for it. How do you want it to be implemented on you yourself is depends on YOU. You may want to have some discussion with people around you to find out more, or you could reach me at 0193366066 or erchongyee@hotmail.com (MSN as well). Wish to hear some comments and sharing’s.
Entrepreneurship Diary
Today’s focus is on the road show we had in PWTC as part of 
the National Bumiputra Entrepreneur Fair. The fair is held from 17 – 19 July 2009 but I am joining only the weekend. Therefore I were there today, and will be tomorrow as well. The main objective was to see more people, talk to more people be it for the purpose of selling unit trust investment or recruiting new unit trust consultants.
We were there early in the morning, even though it was about 10 o’clock. It was not a big crowd as expected. Well, let it be. We went for some simple breakfast.
So time goes by and we do not see a lot of people come by. Why not we go out and look for people? Let’s talk to fellow exhibitors since all are entrepreneurs. And therefore this is to record some of the interesting findings.
First of all it was a polo shirt manufacturer. I found the concept of franchising is pretty interesting and easy to start. They provides the ‘base-shirt’ of various fabric and cuttings, the buyer have the chance to customize the printings and patterns to be sewed on. With the franchising concept, an entrepreneur just need a small space to put up the display and accept orders for down to just 1 shirt per customer. The shirts should have good demand in the group of younger generation because indeed the product is seem in very good quality and is personally customizable.
Investment in education is good business. There are 2 education providers that attracted my attention. One of them is providing academically equivalent certifications on leadership development. The program is mainly to coach people on leadership development and to provide a platform for professional and business networking. Another one is subject to help fellow entrepreneurs find the way to understand what are the business opportunities that is suitable for a person and worth invest the money, effort and time into.
There are some investment scheme in foreign lands as well as gold bonds, and also swiftlets farming. It seems there are a lot of alternative investment options for investors. It is good to consult Bank Negara booth right the way to understand more on how to choose the right investment tools.
The Internet marketing or E-commerce services are gaining more market attention and there are plenty of companies that provide solutions for improving E-business success rates. The most innovative solution is the one that do consider all key factors of success in E-business. The company do provide not only the facilities to bring a business online, it also covers the aspect of driving the traffic, promoting the products in order to increase the closing ratio, up to managing the payment and logistics. It is so far the most comprehensive E-commerce solution for SMI/SME that I have come across so far.
Well, this posting do not meant to describe the event to the upmost thoroughness. And the information given is not subject to interest exchange of any kind with the exhibitors mentioned above. This post is solely come with the spirit of information sharing and the believe of “faithful sharing helps us grow together”. If you want to see them in more details, or in fact you could find more interesting stuff there, please feel free to pay a visit before it is too late. The event is in PWTC.
In case you really miss this, and still keen to know more about the business, ping me on MSN at erchongyee@hotmail.com.
Last but not least, what booth am I participate for the day?
Good night.
Affiliate Business – Part 1
To start involve in E-commerce at home, affiliate business could be considered as one of the easiest entry point. You don’t have to own a business at the first place. What you do is to send visitors (prospects) to a merchant’s website that you are representing. Upon the buying or completion of certain action, as an example, filling in a site registration form, the merchant pays you a commission. It is simple enough to start of no matter in offline or online marketing.
Everybody can actually do this. But in order to do it successfully and eventually help you achieve your financial goal, there is a Certain Way of doing it.
1. You have to be really passionate on what you are affiliating so that you can create good contents to support it. Content is the key success factor here merely because people were to visit your web site to seek for useful information, buying guides and sensible recommendations. If you are not familiar, and not believe in what you are associating, you would not be able to produce good contents for it. Without good contents, it could be either nobody is visiting your website, or they just come and go without any further action.
2. Of course, with good content in place, you have to design your website so that it is getting target traffic. You might need to do some optimization on the web pages so that it ranks highly on a search engine comparing other similar contents. The higher the ranking, the more chances that the visitor will click and land on your web pages.
3. From there they can enjoy reading what you serving them, with the effort that you have put in earlier on designing the content, slowly they will be led to have the feel of buying. Eventually they will follow your recommendation and go through the deal closing process with the merchant you are representing.
4. You need to reduce your opportunity risk by engaging more channel of income. You can be diversifying into other complementary monetization models beyond affiliate programs in order to reduce risk and increase stability of income. This is to protect your from potential risks like the bankruptcy of your merchant partner, reduction of commissions or failure of payment by the merchant.
The mindset have to be correct in doing anything, it is not more not less but in affiliate marketing as well. You have to seriously putting effort and have the passion and drive to make it a success. It is definitely not a ‘get-rich-quick’ program. You need to understand that you are building a real business, and for a business to accumulate the momentum of earning, you need to pump in a lot of hard works. We shall discuss more technically each of the steps of setting up the affiliate business from time to time.
In fact, we are learning at the same pace. Your comments and guidance is most welcomed.
What is Required to Start? Are Your Ready to Work@SOHO?
So if you are looking at this entry, you are some how having some ideas to leave the corporate environment or you have already have, and thinking to start home-based business? I am now in both category. I holds a day time profession and exploring additional opportunities off office hours. This blog is among the ventures. Wish to have your comments and discussion here.
Well, to be your own boss is not easy. Before you make the decision to be out of job and start your own home-based business, make sure you have the personal qualities and correct attitude to make the switch.
1. Financially prepared
After you switch out from a paid employment, you are guarantee no pay check every month (even though while you’re employed, you are not guaranteed to get pay check every month, but it is still better situation). So are you financially prepared? Basic rule of thumb, you must make sure you can survive for half a year without fix income. Your financing might come from your saving, your spouse, relatives or maybe you manage to get people to invest in you. Most of the time the money is your personal saving and that’s why, you have to start saving now.
2. Be committed and work hard
Being your own boss doesn’t means you can be lazy. It merely give you flexibility and freedom to design your own habit of work without reporting to a BOSS. You need to maintain your enthusiasm and motivation to overcome day to day challenges. You need to know what are those factor that keep you moving or you may drop yourself off the shelf when you face problems or seeing the business doesn’t really work out at the beginning. Just remember the rule here, working from home don’t give your the chance to be lazy at the beginning.
Yes, when your business gets on the track, you could see a stable income flow comes in without much additional effort. However, this could only happen provided you invest a lot of effort at the beginning. Moreover, when your business is on the track, you have to constantly find ways to keep the momentum and to stimulate the growth; or else, you should see the business dropping for sure.
Again, don’t get the impression that you can sit there and do nothing when you are at home. Money won’t come just like that, and you may end up seeking for employment then.
3. Discipline
You need to be very discipline and practice a strong and consistent work routine. While you are at home, there are always more interruption than office environment. TV, children, personal phone calls, household chores and simply, feel to relax could always make you out of focus from your work or business. No boss is going to chase you to work. Therefore, you have to setup your personal ethics in terms of managing all the circumstances and make sure that your objective is achieved.
4. Loneliness
The style of working at home alone might not suite to everyone. While in an office environment, you could have enjoyed having lunch with fellow colleagues, joke around and a lot of fun among the workmates. You have to sacrifice this after you decide to quit your job and work from home. Make sure you are well prepared to have a relatively more lonely working style.
In order to get touch to more people, you may choose to join some business networking activities, attend some seminar and conference related to your business. By joining all these activities, you could meet more people and exchange information or business opportunities, or merely get some friends of same interest so that you don’t feel alone in the business.
5. Learning
Learn skills from now. Be working from home require you to solve problems on your own self. In contradict to and office environment, you might have support staff to solve your PC problems. But while at home, help is not so easily accessible. If you have the skill on this, you could always solve problem faster and hence, your work could be more efficient.
Moreover, having said working from home have most of the time related to the Internet, it is seriously important to keep yourself on the pace of the technologies. You need to know how to make use of latest Internet facilities to ease your work. One simple example is to find information from the web using Google, and techniques of marketing your product or services on the Internet. Industry trend and technology always change, make yourself flexible enough to adapt to the trend by learn, unlearn and learn again.
6. Professionalism
Simply be professional on the business that you are going to pursue. Know as much as you can on the business, and be in the place of providing the best services possible. Ensure that you tackle day to day obligation without affecting your quality of services to your clients is the key to win in the competition.
So, are you ready to the one that work@SOHO? If you aren’t now, cultivate in yourself the qualities needed as what I am doing.
