When you are really down, have you ever thought that you are nearing the end of the road? Sometimes, you think that the perfect solution for you is to just jump down (assuming you are staying in a high apartment).
Hold it. It cannot be that bad. Maybe, the opportunity is just round the corner. Have you heard of a story about a man who was searching for gold? He got money from his relatives and friends to purchase equipments etc exploring gold. After digging and digging, at the end, he has no more funding to carry on. He sold all his equipment to another person at very cheap price. This other person is no fool. He actually engaged a geologist to do some investigation before he bought over from the first man. Guess what, he hit gold after digging another 3 feet!
The moral of the story is: when you are about to give up, the real opportunity maybe just 3 feet away!
While we should constantly take a step back and look at the big picture. We should also evaluate our opportunities more objectively. Sometimes, we should even get expert's view of certain subject. It may be worthwhile to consult someone else. By simply giving up without carefully examining the opportunity maybe mssing the gold 3 feet away!
Moral of the Story: Don't Miss Your Pot of Gold 3 Feet Away!
Tuesday, October 10, 2006
Monday, October 09, 2006
Is Franchising For You?
One of my favourite topic is franchising. I read about and heard about many people who got retrenched in their 40s or 50s went into franchising business and ended up losing their life savings. Frachising is like any other businesses. The difference is that in franchising, you are buying a "working system". However, you also must remember that you are paying for it (usually at a very high cost.)
I had spent about 6 months exploring various franchising opportunities. I spend 6 months talking to 5 franchisors and surveyed no less than 30 sites in Singapore. What I found was that to find a good location is very difficult. I was exploring F&B retail business. This kind of business is heavily dependent on location. There three key words to success: Location, Location & Location. Nothing else.
In Singapore context, typical F&B franchise cost about $200K to $250K. Because of large capital outlay for ordinary people, I never encourage people to take up franchise. I have visited many franchisees and I calculated their earnings etc. I belive only top 10% of franchisees are making good profit. Another 30% are making some profit. Yet another 40% are just above the water. The rest of them, 20% are under the water.
One of the biggest problem of franchising is that you lose the freedom to shape your business. You are not different from working for people. The difference is that you have to pay to work for people. You really need to choose very carefully in franchising. Make sure that the franchisor is of good reputation and the system really works. Go for proven systems like Subway, 7-Eleven, you will have better chance to succeed. Other good franchise maybe Kumon (children education) but all these needs good location. I can emphasise more, Location, Location & Location.
Sometimes, you'd be better off to start a small store run it on your own. In that way you can have your freedom to shape your business.
I had spent about 6 months exploring various franchising opportunities. I spend 6 months talking to 5 franchisors and surveyed no less than 30 sites in Singapore. What I found was that to find a good location is very difficult. I was exploring F&B retail business. This kind of business is heavily dependent on location. There three key words to success: Location, Location & Location. Nothing else.
In Singapore context, typical F&B franchise cost about $200K to $250K. Because of large capital outlay for ordinary people, I never encourage people to take up franchise. I have visited many franchisees and I calculated their earnings etc. I belive only top 10% of franchisees are making good profit. Another 30% are making some profit. Yet another 40% are just above the water. The rest of them, 20% are under the water.
One of the biggest problem of franchising is that you lose the freedom to shape your business. You are not different from working for people. The difference is that you have to pay to work for people. You really need to choose very carefully in franchising. Make sure that the franchisor is of good reputation and the system really works. Go for proven systems like Subway, 7-Eleven, you will have better chance to succeed. Other good franchise maybe Kumon (children education) but all these needs good location. I can emphasise more, Location, Location & Location.
Sometimes, you'd be better off to start a small store run it on your own. In that way you can have your freedom to shape your business.
Develop Good Habbits
We pick up different habbits along the way as we grow. There are good ones and
bads. Each of them shapes our daily life. They shape our personality and
character. If you need to bring up your children, observe their habbits and
make sure they have mroe goods ones and less bad ones. Slowly change their bad
ones into good ones. In that way, your children will be able to live happier
life in future.
What about us, grown ups? Can we also shape our own habbits? I believe we can
if we will. If we can constantly reflect upon ourselves what are our good
habbits and what are our bad ones, we can act on them one-by-one. There is no
need to be too ambitious. If we can tackle one of them each week or even each
month. Starting from the worst. Imagine if you change 10-12 bad habbits into
good ones every year, how powerful would that be? This is what I learn from a
recent book that I read. I am reading that book again. There are too many
useful tips in there and I want to implement them one by one.
This One Tip Can Change Your Life Forever!
Just this tip alone, I believe will give me tremendous improvement to my life.
I am sure it is going to shape my future if I can implement it successfully.
Firstly, I need to be focus. Act on one at at time and change the bad one into
good one. For example, being late for appointment by 5 minutes. That is a bad
habbit. I must make sure I add attional 10 minutes before I head for my next
appointment. In that way, I will always be 5 minutes early. That is an easy one
to do, isn't it?
Next, instead of bursting into answering questions people ask, I should try to
listen more carefully. So, I should be breathing in and counting 1, 2, 3, 4 & 5
before I answer any questions instead of shooting off immediately.
Start now, look out for your bad habbits. Listen to your spouse, friends,
children etc. Take note and start to make corrections. I am sure you will
achieve wonderful results.
Survival Skill #15: Develop Good Habbits
Sunday, October 08, 2006
Are You Working Yourself to Misery?
In the recent study done my a New York TV program, it was found that people today are just too crazy about the material needs that they would rather struggle with multiple jobs just to buy things that they don't really need.
I saw on a TV program that there was this couple with only one child. They lived in the suburban of New York area. The husband is a technician and the wife juggles two jobs and taking care of a young child of about 4-5 years old. The husband leaves home quite early and travels quite far to work and reach home rather late. The wife wakes up early to deliver newspaper before she goes to a company to work as administration assistance.
The couple basically has not time to rest. They started their day at about 5.00am and end their day at about 12.00am. So basically, they have about 4-5 hours of sleep each day. Weekends are the only time for rest. When the interviewer probed further they realised that they are chasing for something that they don't really need. For example, they have 3 cars. One Ford Focus for the wife. One SUV for the husband and another family car which is 7 seater. Why do they need a 7-seater when they only have one child? Because they have 3 dogs which will follow them when they go outing. Why do you need 3 cars when you only have 2 drivers?
We really have to think carefully what is it that we really want in our life instead of blindly following whatever the media and the peer expectations impose on us. We really need to be realistic and keep those extra money for our retirement. Stop getting crazy pursuing things that we don't really need.
Survival Skill #15: Know What We Want!
I saw on a TV program that there was this couple with only one child. They lived in the suburban of New York area. The husband is a technician and the wife juggles two jobs and taking care of a young child of about 4-5 years old. The husband leaves home quite early and travels quite far to work and reach home rather late. The wife wakes up early to deliver newspaper before she goes to a company to work as administration assistance.
The couple basically has not time to rest. They started their day at about 5.00am and end their day at about 12.00am. So basically, they have about 4-5 hours of sleep each day. Weekends are the only time for rest. When the interviewer probed further they realised that they are chasing for something that they don't really need. For example, they have 3 cars. One Ford Focus for the wife. One SUV for the husband and another family car which is 7 seater. Why do they need a 7-seater when they only have one child? Because they have 3 dogs which will follow them when they go outing. Why do you need 3 cars when you only have 2 drivers?
We really have to think carefully what is it that we really want in our life instead of blindly following whatever the media and the peer expectations impose on us. We really need to be realistic and keep those extra money for our retirement. Stop getting crazy pursuing things that we don't really need.
Survival Skill #15: Know What We Want!
Saturday, October 07, 2006
What Do You Really Want To Do?
Do you really know what you really want to do for the rest of your life?
Do you have a clear answer?
Let me guess. Maybe you are not exactly sure of what you know exactly what you really want to do. Like millions of other people who are at the middle age, you are still searching for your true self and true passion. Whether you are financially successful or otherwise, I do not believe that you can 100% sure of what you REALLY want to do. The fact is, for many people, even though they are very determined to do what they are doing right now, when something happens, they will re-think. That is what I meant. This always happens. You see many successful people who made changes in the mid-life like going into preaching, doing social work or other totally different things.
If you are still searching for your true passion, I hope you can find some inspiration from here. If you do, I am very happy for you and myself. Happy for you that you would be living a happier life. Happy for me that I have indirectly contributed to someone else happiness.
What if you don't really figure out what you really want to do? To me, there is nothing to worry about. We live our life one step at at time. If we don't have it now, we will have it later. Provide that we keep on finding and never give up or never forget. We will hit the right one. It is a matter of time. Remember one strategy I talk about? Keep focusing on the target until you reach it. For this case, we keep focusing on our search until we find it.
My point is: If you are not sure of what to do with your future, you don't have to worry. It will come to you if you set aside 10 minutes everyday without fail to think about it. Do what you are doing now and do it well. It will come to you.
Do you have a clear answer?
Let me guess. Maybe you are not exactly sure of what you know exactly what you really want to do. Like millions of other people who are at the middle age, you are still searching for your true self and true passion. Whether you are financially successful or otherwise, I do not believe that you can 100% sure of what you REALLY want to do. The fact is, for many people, even though they are very determined to do what they are doing right now, when something happens, they will re-think. That is what I meant. This always happens. You see many successful people who made changes in the mid-life like going into preaching, doing social work or other totally different things.
If you are still searching for your true passion, I hope you can find some inspiration from here. If you do, I am very happy for you and myself. Happy for you that you would be living a happier life. Happy for me that I have indirectly contributed to someone else happiness.
What if you don't really figure out what you really want to do? To me, there is nothing to worry about. We live our life one step at at time. If we don't have it now, we will have it later. Provide that we keep on finding and never give up or never forget. We will hit the right one. It is a matter of time. Remember one strategy I talk about? Keep focusing on the target until you reach it. For this case, we keep focusing on our search until we find it.
My point is: If you are not sure of what to do with your future, you don't have to worry. It will come to you if you set aside 10 minutes everyday without fail to think about it. Do what you are doing now and do it well. It will come to you.
Wednesday, October 04, 2006
Faith is everything!
This maybe Controversial!
A friend believe that we should NOT be planning for our life. When we plan for our life, it means that we do not trust God (I am not preaching here. Just keep your spiritual orientation to yourself.) Human wisdom is limited, so, just live life happily. If you plan too much, you are worrying. Worrying is wrong.
I am sort of half agree with what he is saying. I believe that we must have faith. I believe that we must not be too worried. As I said yesterday. Worry means Fear, Fear can kill! But, I believe we need to do something to create our own destiny. I don't want to mix spiritual orientation with my topic here but yet it is difficult not to.
When you plan and execute your plan, you must have Faith in it. That is something I believe. How successful you are going to be depends on how strong your faith is. How strong you faith is determines how strong your WILL POWER will be.
Does that sound logical?
To Your Success!
A friend believe that we should NOT be planning for our life. When we plan for our life, it means that we do not trust God (I am not preaching here. Just keep your spiritual orientation to yourself.) Human wisdom is limited, so, just live life happily. If you plan too much, you are worrying. Worrying is wrong.
I am sort of half agree with what he is saying. I believe that we must have faith. I believe that we must not be too worried. As I said yesterday. Worry means Fear, Fear can kill! But, I believe we need to do something to create our own destiny. I don't want to mix spiritual orientation with my topic here but yet it is difficult not to.
When you plan and execute your plan, you must have Faith in it. That is something I believe. How successful you are going to be depends on how strong your faith is. How strong you faith is determines how strong your WILL POWER will be.
Does that sound logical?
To Your Success!
Tuesday, October 03, 2006
Fear Can Kill You!
Today, I want to talk about FEAR!
I heard about this cruel experiment done on a prisoner who was condemned to die. He was told if he would consent to an experiment and lived through it, he would be freed. He consented. They wanted to see how much blood a person could lose and still live. They arranged that blood would apparently drop from a cut made in his leg. The cut made was very slight, from which practically no blood escaped. The room was darkened, and the prisoner thought the dropping he heard was really coming from his leg. The next morning he was dead through mental fear.
Don't let Fear Kill You!
Today, our biggest challenge is to conquer our own Fear. We almost Fear Everything. We Fear of Losing our Job! We fear of not able to make our family happy! We fear of not having enough money to retire! We fear of our children not being able to coupe with their future! We fear our investment will go wrong! We fear our parents will fall sick! We fear we may fall sick! We fear of the sky will fall down! What else we can't fear?
We must make our choice: Stop Living In Fear!
When you feel Fear is your inner self. You need to overcome it consciously. Don't be worried if you have stress. Some experts said stress is good. It keeps you going. Have faith in yourself.
Survival Skill #14: Stop Living In Fear!
I heard about this cruel experiment done on a prisoner who was condemned to die. He was told if he would consent to an experiment and lived through it, he would be freed. He consented. They wanted to see how much blood a person could lose and still live. They arranged that blood would apparently drop from a cut made in his leg. The cut made was very slight, from which practically no blood escaped. The room was darkened, and the prisoner thought the dropping he heard was really coming from his leg. The next morning he was dead through mental fear.
Don't let Fear Kill You!
Today, our biggest challenge is to conquer our own Fear. We almost Fear Everything. We Fear of Losing our Job! We fear of not able to make our family happy! We fear of not having enough money to retire! We fear of our children not being able to coupe with their future! We fear our investment will go wrong! We fear our parents will fall sick! We fear we may fall sick! We fear of the sky will fall down! What else we can't fear?
We must make our choice: Stop Living In Fear!
When you feel Fear is your inner self. You need to overcome it consciously. Don't be worried if you have stress. Some experts said stress is good. It keeps you going. Have faith in yourself.
Survival Skill #14: Stop Living In Fear!
Subscribe to:
Posts (Atom)