In one of the recent workshops we discussed about how could a profitable company goes bankrupt.
Weird, but it is true.
For all entrepreneurs, it is important to remember that cash is king. While profit, as calculated by the accountant based on accounting principles is important, cash is vital. Accounting allows you to record profits when you don't actually have any cash. Take for example, a RM1,000,000 sales of cokodok that you made to Mr A on credit. Mr A has 90 days to settle the bill.
Accounting wise, you would have recorded a revenue of RM1 million ringgit and if the cost was RM300,000 you would have recorded a profit of RM700,000. This is called accrual based accounting.
The problem is, when the supplier comes to collect his RM150,000 cost or your staff wants their salary at the end of the month, you cannot pay with profit! You need cash. You need cash to pay everyone their dues.
So, while you would be happy with your profitable business, please take a closer look at your cashflow.
Selamat berniaga :-)
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Showing posts with label employees. Show all posts
Showing posts with label employees. Show all posts
Friday, July 12, 2013
Wednesday, November 30, 2011
Women in Business, now on air!
Many moons ago, I wrote about the rise of ladies entrepreneur in Malaysia, and today we see another milestone. The sign are so clear, we cannot disregard it. The Star Newspaper reported:
Joining the stable of radio stations under Star Radio Group, the all-new Capital FM is the only radio station that provides women a voice and a hub to exchange thoughts and opinions.
Capital FM 88.9 features a handpicked line-up of celebrity presenters, namely Asha Gill, Joanne Kam, Xandria Ooi, Patricia K, Sheela Haran, April Kuan, Joey G and Liang, who will each bring their own flavour to offer different dimensions to the radio station.
Targeted at urban women in the Klang Valley aged between 25-35, the station aims to be a platform for women's issues.
"Capital FM has been tailored to meet the needs of women. To be a friend and confidante. Women empowering women in their daily lives,” said Star Radio Group deputy chief broadcasting officer C.K. Tan.
"Our driving goal is to connect with women by addressing their emotional and intellectual needs, to enhance the quality of their lives and their communities."
Star Radio Group chairman and Star Publications (M) Bhd group managing director/CEO Ho Kay Tat credited Capital FM's unique tagline Women - The New Capital - to Star Publications (M) Bhd executive deputy chairman Datuk Vincent Lee, who coined it as a tribute to and in recognition of the value and importance of women.
The success of this radio station will depend on the kind of values they instill in the womenfolks in Malaysia. I hope that it serves to eliminate the prejudice that existed in both men and women, letting people focus more on living better, peaceful and prosperous.
The only thing I don'd like is the tagline " Women - The New Capital". As I see it, women has always, always been a very significant capital since the beginning of mankind, since the beginning of trade. I was merely hidden away, not prominent. In Islam, Prophet Muhammad's wife, the love of his life, Khadijah was a WEALTHY businesswomen who had employed the greatest man that ever lived. And you don't call that capital? Women should give more credit to women.
Work Smart Everyone.
Related reading
1. Rise of Women entrepreneur
2. More on women entrepreneurs in Malaysia
________________________________________________________________________________
If you like the article above, please like us here. :-)
The Author is the principal of ElixirEducate - a training house for Smart Entrepreneur Program Series. If you would like what you read above, we would be grateful if you could 'like' us at our page here. If you would like to to find out or learn more about the the article above, you can email the author directly at yazdi@theelixirstore.com or be his facebook friend here.
Lastly, if there is anyone that you know who may benefit from reading this article / post please forward and share this posting by clicking the button "Share" below. Have a great day ahead.
Capital FM 88.9 - Malaysia's first women's radio station to go on air Thursday
By JADE CHAN
PETALING JAYA: Malaysia's first women's radio station Capital FM 88.9 is all set to sizzle the airwaves as it begins its broadcast from 6am Thursday.Joining the stable of radio stations under Star Radio Group, the all-new Capital FM is the only radio station that provides women a voice and a hub to exchange thoughts and opinions.
Capital FM 88.9 features a handpicked line-up of celebrity presenters, namely Asha Gill, Joanne Kam, Xandria Ooi, Patricia K, Sheela Haran, April Kuan, Joey G and Liang, who will each bring their own flavour to offer different dimensions to the radio station.
Targeted at urban women in the Klang Valley aged between 25-35, the station aims to be a platform for women's issues.
"Capital FM has been tailored to meet the needs of women. To be a friend and confidante. Women empowering women in their daily lives,” said Star Radio Group deputy chief broadcasting officer C.K. Tan.
"Our driving goal is to connect with women by addressing their emotional and intellectual needs, to enhance the quality of their lives and their communities."
Star Radio Group chairman and Star Publications (M) Bhd group managing director/CEO Ho Kay Tat credited Capital FM's unique tagline Women - The New Capital - to Star Publications (M) Bhd executive deputy chairman Datuk Vincent Lee, who coined it as a tribute to and in recognition of the value and importance of women.
The success of this radio station will depend on the kind of values they instill in the womenfolks in Malaysia. I hope that it serves to eliminate the prejudice that existed in both men and women, letting people focus more on living better, peaceful and prosperous.
The only thing I don'd like is the tagline " Women - The New Capital". As I see it, women has always, always been a very significant capital since the beginning of mankind, since the beginning of trade. I was merely hidden away, not prominent. In Islam, Prophet Muhammad's wife, the love of his life, Khadijah was a WEALTHY businesswomen who had employed the greatest man that ever lived. And you don't call that capital? Women should give more credit to women.
Work Smart Everyone.
Related reading
1. Rise of Women entrepreneur
2. More on women entrepreneurs in Malaysia
________________________________________________________________________________
If you like the article above, please like us here. :-)
The Author is the principal of ElixirEducate - a training house for Smart Entrepreneur Program Series. If you would like what you read above, we would be grateful if you could 'like' us at our page here. If you would like to to find out or learn more about the the article above, you can email the author directly at yazdi@theelixirstore.com or be his facebook friend here.
Lastly, if there is anyone that you know who may benefit from reading this article / post please forward and share this posting by clicking the button "Share" below. Have a great day ahead.
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Tuesday, November 22, 2011
VSS: Bane or Blessing? (Buang Kerja: Bala atau Rahmat?)
I read this in the newspaper today (The Star):
KUALA LUMPUR: Hong Leong Bank group has clarified that the offer of the voluntary separation scheme (VSS) launched early this month does not need the approval of Bank Negara but will be undertaken in accordance with labour laws.
Hong Leong Bank Bhd group managing director Yvonne Chia told a briefing to introduce Hong Leong Islamic Bank Bhd’s newly-appointed managing director-cum-chief executive officer Raja Teh Maimunah Raja Abdul Aziz, that the central bank did not need to approve the VSS.
“I want to clarify that this VSS is a move to make the bank more efficient in a changing landscape. Being in a regulated industry and as a matter of courtesy, we informed Bank Negara of the VSS but we do not need to have the central bank’s approval nor the approval of the Labour Department,” she said.
VSS (or Voluntary Separation Scheme) is basically when they think they have too many staff and they don't need the staff anymore. The company thinks they can do without these people, stop paying them salaries and they will get to keep more as profits.
Well, accounting wise it makes sense, or at least in theory. But to those who will be opting and getting VSS, they are definitely going to have mixed feelings.
Being offered VSS means it is a signal they you are not wanted, but you can exit with compensation. Some of you would be worried about how the family is going to get fed, especially if you are a clerk with five kids in tow. The compensation amount is not going to last forever. My heart goes to them.
Undoubtedly, some you will opt to be an entrepreneur; and I, on behalf of New Entrepreneurs Malaysia, welcome you all with open arms and wish you luck and BEG you to be careful with your plan and your compensation amount. NEVER spend more than 10% of our compensation amount on starting a business. And you can read some FREE advice on new entrepreneurs in distress (here) and starting up advice for new entrepreneurs (here).
And I welcome volunteers to translate this into Malay because it is a known fact that the the clerks and lowly paids job in banks are dominated by them. And pls share this with them (or their kids on facebook)
__________________________________________________
If you like the article above, please like us here. :-)
The Author is the principal of ElixirEducate - a training house for Smart Entrepreneur Program Series. If you would like what you read above, we would be grateful if you could 'like' us at our page here. If you would like to to find out or learn more about the the article above, you can email the author directly at yazdi@theelixirstore.com or be his facebook friend here.
Lastly, if there is anyone that you know who may benefit from reading this article / post please forward and share this posting by clicking the button "Share" below. Have a great day ahead.
Hong Leong Bank: No Bank Negara approval needed for VSS
KUALA LUMPUR: Hong Leong Bank group has clarified that the offer of the voluntary separation scheme (VSS) launched early this month does not need the approval of Bank Negara but will be undertaken in accordance with labour laws.
Hong Leong Bank Bhd group managing director Yvonne Chia told a briefing to introduce Hong Leong Islamic Bank Bhd’s newly-appointed managing director-cum-chief executive officer Raja Teh Maimunah Raja Abdul Aziz, that the central bank did not need to approve the VSS.
“I want to clarify that this VSS is a move to make the bank more efficient in a changing landscape. Being in a regulated industry and as a matter of courtesy, we informed Bank Negara of the VSS but we do not need to have the central bank’s approval nor the approval of the Labour Department,” she said.
VSS (or Voluntary Separation Scheme) is basically when they think they have too many staff and they don't need the staff anymore. The company thinks they can do without these people, stop paying them salaries and they will get to keep more as profits.
Well, accounting wise it makes sense, or at least in theory. But to those who will be opting and getting VSS, they are definitely going to have mixed feelings.
Being offered VSS means it is a signal they you are not wanted, but you can exit with compensation. Some of you would be worried about how the family is going to get fed, especially if you are a clerk with five kids in tow. The compensation amount is not going to last forever. My heart goes to them.
Undoubtedly, some you will opt to be an entrepreneur; and I, on behalf of New Entrepreneurs Malaysia, welcome you all with open arms and wish you luck and BEG you to be careful with your plan and your compensation amount. NEVER spend more than 10% of our compensation amount on starting a business. And you can read some FREE advice on new entrepreneurs in distress (here) and starting up advice for new entrepreneurs (here).
And I welcome volunteers to translate this into Malay because it is a known fact that the the clerks and lowly paids job in banks are dominated by them. And pls share this with them (or their kids on facebook)
__________________________________________________
If you like the article above, please like us here. :-)
The Author is the principal of ElixirEducate - a training house for Smart Entrepreneur Program Series. If you would like what you read above, we would be grateful if you could 'like' us at our page here. If you would like to to find out or learn more about the the article above, you can email the author directly at yazdi@theelixirstore.com or be his facebook friend here.
Lastly, if there is anyone that you know who may benefit from reading this article / post please forward and share this posting by clicking the button "Share" below. Have a great day ahead.
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| ElixirEducate |
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