Sunday, December 4, 2016

Listen to Positive or Negative Feedback?

Last week, a good friend and I were having coffee and chi chat over a coffee shop. We talked about the near term prospects of our own companies and how to overcome this low crude oil and bad economy crisis. 

His plan is to expand to neighbor countries due to similar culture and business strategy, but he has the concern on limited cash flow, confidence level and know how. Basically he is doing cabling infrastructure distribution and services business. From what I noticed, he is doing very well on services over the past few years because of his public relations, reasonable price and being very flexible in doing business. Most of the customers like to deal with them. 

For their distribution business, it compliments with their projects and services, I guess may be about 15-25% of the total annual sales. A good thing about their distribution business is, all the products are self-developed and they have a lot better margins compared to the local rivals. Right now, his plan is to focus only on distribution business in neighbor country. 

I commented that I don't really look good on neighbor country even it's a much bigger cake, as the cabling infrastructure there are more mature and competitive than local market. Yes, they have their own brand and they are able to control the cost and selling price. But these cable items are very mature in the market, what makes me want to change brand or vendor? Are both solving the same problems? Unless you tell me I can make more margin by using your product? 

Well, this is traditional trading game and the price can only go lower and lower with lesser margin. With his concern in mind, it might be a waste of time and money, unless he has a out-of-the-box business strategy. I did advice him to try participate in international fair in the neighbor country and check out the response before rush in just like that. 

Unfortunately, free advice is always useless, people just don't appreciate it. He got pissed off. He scolded me for depreciating his products and he feedback that if everyone think like me, then no one is going to expand overseas. Well, it is true but that's only for those losers who stopped by the negative feedback. What I mean is he can actually leverage on those negative feedback to move forward! 

Well, I get his point why he is angry. From the way I noticed, most of the bosses or entrepreneurs do not like people provide negative feedback about their company, especially on their ideas, plans and solutions. Perhaps they were having hard time to make it over, and they think they need to be recognize badly. 

In my opinion, if one only want to listen positive feedback and fake comment, then I don't see this topic needs to be brought up and discussed anymore in the near future. When I reached home, I did apologize and text him we would not discuss about his company again and he is fine with it. 

I hope he'll ponder over my comments before he takes action. I wish him all the best for his overseas expansion.

Sunday, November 27, 2016

Do You Possess Multi-Millionaires Traits?

I will stay at home to study public listed company (stock investment) and read Internet articles on Sunday noon and night normally. Some how I have great interest in doing this, and I feel very relax by doing it. ;) Of course, the ultimate purpose is to make me stronger, more knowledgeable, obtain higher return on business and investment.

I came across a simple article about the usual traits of the multi-millionaires, which I think it is quite true from what I noticed over multi-millionaires around me. I would like to share with you here.

There's a research center spent 5 years time to study 177 multi-millionaires, and they discovered the following 12 traits from these successful people. For those multi-millionaires climbing all the way up from the ground, they have their success reasons behind, and these are the traits.

1. They read frequently, and relentlessly upgrade their knowledge and mindset.
2. They exercise regularly and stay healthy.
3. They get to know other successful people and expand their networks.
4. They relentlessly seek for their own goals, they are persistence.
5. They wake up early.
6. They have multiple income sources, including business and investment.
7. They have mentor/s.
8. They have positive and aggressive attitude.
9. They do not follow the crowd.
10. They help others to be succeeded (so they can ride on others to earn more?).
11. They spend time to think and ponder over problems and future trend, daily.
12. They seek for feedback from others.

Sounds simple? Out of these 12 traits, how many of them you think you are currently possessing them? I think item 1, 2, 3, 5, 7, 11 and 12 are not that difficult, most of us can try to achieve them. But from what I noticed, we might not become millionaire even we possess all these 12 traits. Why is that?

Well, these are just common traits from these 177 multi-millionaires, or more. But doesn't mean the study proved that possess these 12 traits then you will become millionaires. We still need ideas, courage, resources and support to achieve it.

Being an entrepreneur, I realized what it takes to be successful. If we able to possess 12 traits above, it does help us a lot to be successful.

Some of us chose to be mediocre, that's fine. But some of us still have dreams and want to be rich. Anyhow, it's good to try to do business at least once and last it at least 1-2 years when you are young and single, then you will experience something you'll never get to experience in your life!

Sunday, November 20, 2016

Make America Great Again?

Yes, it was the biggest news of the year everybody talked about last week. Donald Trump beaten Clinton and won the US president election.

I like what Trump always shared in books, go big or go home. This time, he really went big and he got the president. To be honest, I did not expect him to win, or if he win, he will not win by outnumber. However, I have been admiring him since The Apprentice. Because he is an outstanding businessman. His business tactics are weird and won't be used by gentlemen, but somehow they are effective.

So what tactics he actually used for this election?

1. Pretend
Trump pretends he is the best, even though he is not. He pretends he is the best president by painting a good future for the citizens. He talked like he is perfect, but in fact he has weaknesses. Anyway, pretend only can be achieved by highly confident and ego person, like him. Why he likes to do so? Imagine if he always tell lies, will he succeed until today? That's his strategy. If he is confident he can do it, he will pretend to be succeed first. Make America Great Again, he really pained a bright future picture for the America with this slogan.

2. Depreciate Opponents
He likes to play this game. Look at how he depreciate Clinton, her husband and Obama. I also remembered how he depreciated Richard Branson and many people in his books. That's his 'always use' strategy.

3. Exaggerate
He ballooned most of the promises and facts. Do you think he really can convince Mexico will pay and build the wall? Can US really ban every incoming muslim? All don't make sense. Come on. And he talked the mass he has net worth of $10B? Buffet asked him to prove by showing income tax report, he doesn't even dare to prove it. However, do you think he wants to make you believe it? No. That is not his point. Trump just wants your attention, everyone's attention. And guess what, he made it. Everyone can now remember what he promised and told!

Another tactic he likes to use in his business is lawsuit. Trump likes to make use of lawsuit to take advantage, so no one dare to mess up with him. That's rich people's game.

Anyway, those are just my observation and comments. I personally do have great respect to him as a successful businessman and confident person. I read his books and watch The Apprentice, and I'm into what he advice. It's useful.

I wish all the best for Trump as the coming president, hope he can really makes America great again!
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