The Story of NENA (For entrepreneurs in distress)

Last night I read a posting on one of my participant's site; it shook me to the core. It was about how her daughter of 10 years old, sold her favorite Angry Bird toy and gave all the money to her mom to help make ends meet, accompanied by a piece of note.

I was so touched and inspired by the little child's act that I decided to do two things:

One - I am creating a program within ElixirEducate which I am naming NENA, after the blessed child (the mom is blessed to for having such child). NENA stands for (N)ew (E)ntrepreneurs (N)eeding (A)dvise. And this would apply to all those who were  forced into entrepreneurship out of necessity or hardship; that would include single parents, laid-offs, homeless and the poor at home. And what it means that I will give coaching at heavily subsidised rates (I will not cheapen it by disclosing further) and you only pay when you have - later, when you make the money from your business. I do not want a single cent until you are successful. (But please bear in mind that I cannot help everyone until I get more volunteers).

Two - I am going to give this advise for those who are forced into entrepreneurship out of necessity rather than choice.

1. Don't tell yourself to be positive, instead KNOW that the Almighty has decided to give you the best gift in life, entrepreneurship. It is a field that even religion regard as the 9 out of 10 doors of fortune. There is no doubt about this.
2. Have faith that the Al-Mighty have the power to change your situation and make it better. For Muslims, pray and ask from Allah and don't be vague - be specific. Remember and know that mightiness of the AL-Mighty is beyond your comprehension and his knowledge and generosity is beyond what your human mind can conceive. Rezeki is not determined by your boss, your company or your project - Even their 'rezeki' is determined by Allah; so ask yourself who have been you REALLY been asking rezeki from all this while?
3. Read and find the book, La Tahzan (Don't be Sad, Jangan Bersedih). It has helped me and millions other really pick ourselves up. Ask any bookstore or go to the library. Find it now.
4. Know that your universe is about to change and be proud with yourself (proud, not arrogant). Prepare yourself for the change and open your eyes wide of the possibilities. Walk tall; for the final determinant is the Al-Mighty Allah. LITERALLY walk tall, as you are reading this, sit straighter! Get up and stand taller, lift your shoulder and open up your chest. Try it now. You will feel stronger. Now DON'T change that posture.
5. Have a dialog with yourself. Go to a mirror or even a puddle of water and see your reflection. Tell that person, "form now on, you and me, together we will change our fate, our destiny. Together we are going to make a fortune and help others who are like us. Let's DO THIS".
6. In business, mental toughness is a MUST and the real KEY to success. Enlist all help to do this but the first help must be from the Al-Mighty, from God. How? Pray, even if you have not prayed for the last 30 year, pick up a clean towel, lay it down, find a general direction of the Kaabah and pray. Allah is the best of judge and the most knowledgeable and he KNOWS your imperfections. I strongly suggest that you pray NOW. Break from reading this and go pray, two rakaah will do. I am going to do my Solah Dhuna now.
7. See, less than 10 minutes. Next is to take action. Prayers is not likely will land gold at your feet (anything possible with Allah though), mostly it will be answered through your actions. You are not dead yet. So let's get cracking.
8. Before starting anything, improve yourself first. Make yourself more productive. Sleep half and hour earlier than usual but wake up an hour earlier. After Prayer and reciting surah Waqiah, READ. READ about your trade, your product and your business. If you have the internet that is great, rather than spending that time lamenting your state in a chatroom, browse and search for information. Spend at least forty five minutes READING and listening to instructional videos on Youtube. I do that everyday. Do it before the kids wake up.
9. Then list the things you need to do that day. When you do not have money, time is your most important resource. Plan it properly and get more things done within that day. Any free time? READ!
10. Get help. Find a business coach or a friend who has been in business and ask for advise. Don't be afraid that a business coach might be expensive, just go to them and tell them your situation and I GUARANTEE that any GOOD BUSINESS COACH will be more interested to help you rather than the money. A good business coach also believes that Allah decides his rezeki, not from you and your fees.
11. Find out your strengths and weaknesses (a friend or coach can help) and what is your product and value proposition that you can offer? It could be anything, Serunding Sambal to your mom's favorite recipe. Find someone who can give you a good picture and plan on how to make money.
12. DO NOT INVEST in anything that guarantees return and ask you to do nothing (except maybe get more investors). YOU WILL LOSE MONEY. Money never makes money, only you do. Spend wisely. Spend to be actionable. 
13. Genuine Multi-Level-Marketing is a good business to go into for a start. You can gather income steadily  by using genuine and honest tactics. Do not manipulate and lie to get customers as words will get around and soon no one will want to see or buy anything from you.
14. If you have a product of your own - go out and sell it. Products are never perfect first round so don't wait for it to be perfect but make sure you continuously improve them. Be honest with your customers; they will buy something with 60% perfection level.
15. Be humble and smile always. Life has thrown a spanner  so being humble should be easy for you. Be humble and smile - that always got me jobs. Humble, NOT PITIFUL. Do not slouch or look sad, humble is being proud at what you are doing but nor arrogant.
16. Focus, Focus, Focus...
17. If you have a family - they are your sources of strength. Do not worry for their rezeki is in the hands of Allah too. Not all is on your shoulder. Allah will take care of them too. Hug your child/spouse with smile and vigour. Tears are okay once in a while, but most effective when in prayers (that means you too, menfolks).
18. Help others whenever you can in whatever way you can.

I have no intention of making this into a spam but please do forward this to someone who you know would benefit from this advise, share this on your FB. It could be your family member, your friend or your next door neighbor. Don't spam it, send it to someone who needs this and may Allah reward you for your kindness.

Work Smart People

The Author is the principal of ElixirEducate - a training house for Smart Entrepreneur Program Series. He was an international investment banker, corporate financier and now serial entrepreneur and business coach. You can find more information on ElixirEducate on their facebook page, here.  And be a facebook friend  of Yazdi . Please share this information with your entrepreneur friend who may benefit from this post. They could be an existing entrepreneur or someone who plans to start a business.  You can also join the growing business network of Entrepreneurs in Malaysia by joining this group. Thank you.

1 in every 4 readers are from the United States: We are international!

Our readers came from all over the world and I am happy to note that 25% of our readers are from the United States.  Praise to the AlMighty

Tips on improving cash-flow /Tip-tip untuk menambah-baik aliran tunai

Business is about cash-flow. If you have bad cash-flow management you will face difficulties paying your suppliers, employees and even yourself.

But cash-flow is not profit. It is not the same. You can be making millions in profits but still ended up not being able to pay your suppliers. And if this happens, you have to pay attention now as cash-flow problem is one of the most common reason profitable business fail.

1. Check your financial model and system and make sure you have a cashflow-positive model.

This means that you cash inflow and cash outflow are matched or in the favour of cash inflow. If your customer has a longer credit term that your own credit term with your supplier that is a problem. This also means that your are cashflow positive AFTER taking into consideration all other hidden cost like interest cost, storage cost and penalties etc.

2. Check for leakages

Entrepreneurs, especially the small and medium sized ones, usually fly solo and have skeletal staff. Leakages do happen if we are too busy chasing for new deals and customers. Fix the leak fast. Plug it before it sinks your ship.

3. Lower margin, high multiplier

Profit = margin x multiplier

Say for every RM1.00, you make 10 sen or 10%. But if the customer takes 6 months to pay you, that one Ringgit will generate 20 sen (two multiplier) a year. But if you aim for lower margin (say 8%) but make the customer pay you every month, then your profit is 96 sen or 96% (12 times multiplier). If you have an invoice which takes 60 days, use factoring or other means to get the cash back fast. When you have the cash faster, you can roll it more times. (I will talk more on factoring in the next posting)

4. Pumping more cash is not the solution

Raising capital to fix a cashflow problem is not necessarily the solution. In fact, it is never the first solution. Check and fix your financial model first and then if you need more resources, follow these steps: (a) List down what you need (b) negotiate the cost with yourself (c) Use internal funding strategies (d) use factoring (e) seek outside funding.  If you have not done this, do not borrow or invest more money - it may be wasted away.

Work Smart People.

The Author is the principal of ElixirEducate - a training house for Smart Entrepreneur Program Series. He was an international investment banker, corporate financier and now serial entrepreneur and business coach. You can find more information on ElixirEducate on their facebook page, here.  And be a facebook friend  of Yazdi . Please share this information with your entrepreneur friend who may benefit from this post. They could be an existing entrepreneur or someone who plans to start a business.  You can also join the growing business network of Entrepreneurs in Malaysia by joining this group. Thank you.

VERSI BAHASA MELAYU

Perniagaan adalah aliran tunai. Jika anda mempunyai pengurusan aliran tunai yang tidak bagus, anda akan menghadapi kesukaran membayar pembekal anda, pekerja dan juga diri sendiri.
Tetapi aliran tunai positif bukanlah bererti keuntungan. Ia tidak sama. Anda boleh membuat keuntungan berjuta-juta tetapi tidak mampu untuk membayar pembekal anda. Dan jika ini berlaku, anda perlu memberi perhatian sekarang sebab masalah aliran tunai merupakan salah satu sebab yang paling kerap menyebakanb perniagaan yang menguntungkan gagal.
1. Semak model dan sistem kewangan anda dan pastikan anda mempunyai model aliran tunai positif.
Ini bermakna bahawa  aliran masuk tunai dan aliran keluar tunai dipadankan atau memihak kepada aliran masuk tunai (masuk lebih kerap dari keluar). Jika pelanggan anda mempunyai kredit jangka panjang melebihi kredit anda dengan pembekal anda sendiri, ini akan menjadi masalah. Anda juga harus memastikan aliran tunai adalah positif SELEPAS dengan mengambil kira semua kos lain yang tersembunyi seperti kos faedah, kos penyimpanan dan penalti dan lain-lain
2. Periksa untuk kebocoran
Usahawan, terutama yang bersaiz kecil dan sederhana, biasanya terbang solo dan mempunyai kakitangan yang sedikit. Ketirisan/kebocoran berlaku jika kita terlalu sibuk untuk mengejar  tawaran dan pelanggan-pelanggan baru sehingga tidak memantau aliran tunai. Betulkan bocor segera. Sumbat kebocoran sebelum ia meneggelamkan kapal anda.
3. Margin yang lebih rendah, pengganda yang tinggi
Keuntungan = margin x pengganda
Katakanlah untuk setiap RM1.00, anda membuat 10 sen atau 10%. Tetapi jika pelanggan mengambil masa 6 bulan untuk membayar anda, ini bermakna satu Ringgit akan menjana 20 sen (dua pengganda) tahun. Tetapi jika anda menerima margin yang lebih rendah (katakan 8%) tetapi membuat pelanggan membayar anda setiap bulan (lebih kerap), maka keuntungan anda adalah 96 sen atau 96% (12 kali pengganda). Jika anda mempunyai invois yang mengambil masa selama 60 hari, gunakan pemfaktoran atau cara-cara lain untuk mendapatkan wang tunai dengan lebih cepat. Apabila anda mempunyai wang tunai lebih cepat, anda boleh mengunakkannya dengan lebih banyak kali. (Saya akan bercakap lebih mengenai pemfaktoran dalam posting yang akan datang)
4. Mengepam lebih banyak wang bukan penyelesaian
Penjanaan modal untuk menyelesaikan masalah aliran tunai tidak semestinya berkesan. Malah, ia bukan cara penyelesaian yang pertama. Periksa dan pastikan model kewangan anda terlebih dahulu dan kemudian jika anda memerlukan lebih banyak sumber anda ikutlah langkah ini: (a) Senaraikan apa yang anda perlukan (b) berunding kos dengan diri sendiri (c) Gunakan Strategi Pembiayaan dalaman (d) Pemfaktoran (e) cari pembiayaan di luar. Jika anda tidak melakukan ini, jangan meminjam atau melabur lebih banyak wang - ia boleh menjadi sia-sia.
Berniagalah dengan bijak

Pengarang adalah prinsipal ElixirEducate - Pusat Latihan Siri Usahawan Bijak. Beliau adalah bekas pegawai bank pelaburan antarabangsa, pembiaya korporat dan kini adalah usahawan dan jurulatih perniagaan. Anda boleh mendapatkan maklumat lanjut mengenai ElixirEducate di laman facebook mereka, di sini. Dan jadilah kawan facebook-Yazdi. Sila berkongsi maklumat ini kepada rakan usahawan anda yang boleh mendapat manfaat daripada post ini. Terima kasih.

Advise to new entrepeneurs with a lot of money / Nasihat untuk peniaga baru yang BANYAK duit.

NOTA: Versi bahasa Melayu di akhir versi English ini.

ENGLISH VERSION

Do you or anyone you know:
1. Newly pensioned and has lot of money. Planning to do business - rearing sheep maybe?

2. Newly VSS'ed and also have a lot of money. Open a franchise maybe?

3. Made a personal loan with a bank,  RM100,000 and planning to put it all in a business?
Good intentions.  But you loose all your money if you don's take heed of these advises:

1. Most of the people above are educated or experienced. 
Yes, you may be an engineer who is extremely intelligent, but this enterprise business is another field altogether. The formula for  businesses is not like the formula for employment - In employment, you do the work get the money and the more intelligent you are the more you get, sometimes. Business other hand, work will not necessarily get the money but if you do it right do not need to work but still get the money. Do not invest all your money in the first business. 9 / 10 start-ups fails. Accept that you are new in this area and start small.

2. Do not be arrogant. 
The biggest mistake is when you think that  you are wise and have the business acumen considering  that you have a degree and once worked in a multinational company. You do not need to learn from other people. Be humble, to your employees, to your customers generally everyone around you. Do not dismiss people's advise on running a business easily, just because he wears a slipper into your shop.
3. Get trained 
Money does not make money. Only you do; so get trained. This is a must. If you do not go, you are really looking for trouble

4. Get a business coach 
You are putting RM150, 000 in your business. My advise is : do not bank it all on your work experience for 0 days. Get a business coach and he would be able to show the potholes of businesses before you fell into it. If you fall, the extraction price is very expensive.

5. Do not stingy with workers
Diligent and honest employee MUST be held on to tightly. Pay him more and treat him as partners and always discuss - not direct.

6. Pay your Zakat and give to the charity
A must. Businesses are fulled with risk as it is, you would not want to risk the wrath of the Al-mighty.
Work Smart Everyone

The Author is the principal of ElixirEducate - a training house for Smart Entrepreneur Program Series. He was an international investment banker, corporate financier and now serial entrepreneur and business coach. You can find more information on ElixirEducate on their facebook page, here.  And be a facebook friend  of Yazdi . Please share this information with your entrepreneur friend who may benefit from this post. They could be an existing entrepreneur or someone who plans to start a business.  You can also join the growing business network of Entrepreneurs in Malaysia by joining this group. Thank you. 

VERSI BM 

Adakah anda atau sesiapa yang anda kenal:

1. Baru pencen dan ada banyak duit. Merancang untuk berniaga - ternak kambing ke?

2. Baru dapat VSS, duit banyak dan juga nak berniaga. Buka francais ke, kopi tiam ke?

3. Baru dapat buat personal loan dengan bank RM100,000 dan nak laburkan semuanya untuk berniaga?

Niat bagus tapi anda mungkin akan hangus semuanya kalau tak dengar nasihat ini.

1. Kebanyakan orang yang pencen dan dapat VSS adalah orang yang terpelajar atau berpengalaman. Memnag anda mungkin seorang engineer yang teramat bijak tapi perniagaan ini amat lain. Formula perniagaan tidak seperti formula pekerjaan - buat kerja dapat duit. Berniaga pula lain, buat kerja belum tentu dapat duit tapi kalau beturl caranya tak payah bekerja tapi dapat duit. Jangan laburkan semua duit anda dalam perniagaan pertama. 9/10 kebarangkalian perniagaan pertama anda mungkin hancus atau perlu dirombak/dibaiki besar - walaupun anda buat francais.

2. Jangan jadi sombong.
Ini saya nampak sendiri dikalangan engineer yang dapat VSS. Kebanyakannya orang yang terpelajar tapi syarikat nak lepaskan mereka, jadi bagi pampasan. Kesilapan terbesar iayalah apabila anda merakana diri bijak dan tak perlu belajar dari perniaga lain. Apalah susah sangat nak jaga kedai makan berbanding jaga enjin kapal dulu. Susah jaga tu mungkin tidak, susah nak buat duit tu ya. Jadi, mestilah rendahkan diri kepada pelanggan, rakan and juga semua orang. Kat pekerja pun tak boleh kita bersombong, nanti diludah dalam beehoon tu pulak, susah.

3. Pergi krusus perniagaan
Ini mesti. Kalau tak pergi, memang cari masalah

4. Dapatkan jurulatih perniagaan
Anda akan letakkan RM150,000 dalam perniagaan anda. Jangan letakkan semuanya keatas pengalaman bekerja anda yang selama 0 hari. Dapatkan jurulatih perniagaan dan beliau dapat tunjukkan lubang lubang perniagaan sebelum anda jatuh kedalam. Kalau dah jatuh, harga nak keluarkan anda tu lagi mahal.

5. Jangan kedekut dengan pekerja
Pekerja yang rajin dan jujur MESTI dipegang dengan seerat-eratnya. Bayar dia lebih sikit dan layan sebagai rakan-kongsi dan selalu berbincang - bukan mengarah (ingat, anda pun baru bermula berniaga sedangkan dia sudah lebih lama bekerja)

6. Keluarkan zakat dan bersedekah
Wajib buat dua dua ni. Berniaga had ada cukup banyak risiko, anda tidak mahu risiko Allah marah!

Bekerjalah dengan bijak.

Pengarang adalah prinsipal ElixirEducate - Pusat Latihan Siri Usahawan Bijak. Beliau adalah bekas pegawai bank pelaburan antarabangsa, pembiaya korporat dan kini adalah usahawan dan jurulatih perniagaan. Anda boleh mendapatkan maklumat lanjut mengenai ElixirEducate di laman facebook mereka, di sini. Dan jadilah kawan facebook-Yazdi. Sila berkongsi maklumat ini kepada rakan usahawan anda yang boleh mendapat manfaat daripada post ini. Terima kasih.

Idea BESAR untuk peniaga KECIL

Alhamdulillah, saya amat teruja dengan sabutan yang anda semua telah berikan. Dan untuk memenuhi permintaan sesetengah pembaca, saya membuat keputusan untuk mebuat dua versi bagi setiap 'posting'.  Tetapi saya akan mulakna dengan memaparkan tulisan tulisan yang dahulu, tetapi dalam Bahasa Melayu.

Hi there, berikut adalah beberapa idea-idea yang telah terbukti berguna untuk perniagaan kecil:
1. Letakkan  usaha tambahan untuk benar-benar memahami pelanggan-pelanggan anda.
Kenali sentiasa  pelanggan anda dan dilakukan secara rutin, katakan setiap dua minggu sekali. Anda harus mempunyai cara yang berstruktur untuk menilai dengan cepat "Siapa, Apa, Bila dan Bagaimana" pelanggan anda. Dan kemudian semak semula  usaha pemasaran anda dan saluran penyampaian untuk memsatikan ianyan masih relevan dan menepati kehendak pelanggan.  Contohnya, pelanggan anda sekarang sudah mula meluangkan lebih masa mengunakan facebook, bebanding dulu yang mungkin lebih berminat dengan sms. Jadi, usaha pemasaran anda juga harus berubah and mengikut pelanggan anda.

2. Pintar mencari Sumber
Kepintaran mencari sumber (resourcefulness) adalah lebih penting daripada sumber-sumber itu sendiri. Ingatlah bahawa wang hanya salah satu daripada sumber-sumber yang diperlukan oleh perniagaan dan terdapat banyak cara untuk menggantikan wang. Sentiasa cuba untuk mencari sumber-sumber dalaman sebelum mendapatkan pembiayaan luar. Sumber dalaman termasuk pra jualan dan perkongsian pintar. Sebaik sahaja anda berfikir bahawa anda perlu mendapatkan wang untuk membeli sesuatu, tahan diri anda sebenta dan berunding dengan diri anda - Apakah sumber sebenar yang anda perlukan dan bagaimana anda boleh mendapatkan percuma atau kurang.
3. Teleskop

Sentiasa pastikan bahawa anda mempunyai kemampuan untuk melihat ke dalam butir-butir setiap aktiviti dan juga mampu untuk 'zoom' keluar untuk melihat gambaran yang lebih besar mengenai perniagaan anda. Salah satu cara untuk melakukan ini adalah untuk melakar model perniagaan syarikat anda. Jurulatih perniagaan biasanya membantu banyak dalam bidang ini.
4. Belajar untuk berunding
Kebolehan untuk berunding adalah penting kerana ia membolehkan anda untuk mendapatkan apa yang anda apa, bagaimana anda mahu dan apabila anda mahu.
5. Aliran tunai, aliran tunai, aliran tunai
Tidak memahami perakaunan? Tidak mengapa.  Tetapi anda mesti tahu di mana wang anda dan bagaimana melakukan ia aliran. Berhati-hati kebocoran aliran tunai, ia akan meneggelamkan perniagaan  anda dengan  cepat.
6. Berkongsi untung, berkongsi risiko
Dapatkan rakan-rakan perniagaan yang baik untuk menceburi projek. Tidak, saya tidak bermaksud rakan kongsi ekuiti, tetapi lebih kepada rakan-rakan rantaian bekalan. Benar, keuntungan anda lebih kecil tetapi risiko anda juga lebih kecil. Ianya juga dapat mengurangkan bebanan sumber anda dan membolehkan anda mebuat lebih daripada satu projek dalam satu masa. Dan mendapatkan seorang peguam yang baik yang boleh membuat satu perjanjian yang baik.
7. Gunakan media sosial, dengan bijak
Web 2.0, internet, adalah satu platform yang cemerlang untuk memasarkan produk anda - HANYA jika pelanggan-pelanggan sasaran anda berada di sana. Yang penting adalah untuk bermesra dengan pelanggan-pelanggan yang menggunakan media sosial. Penggunaan membuta-tuli laman web, facebook dan emel tidak akan berguna. Ia mesti menjadi sebahagian daripada strategi keseluruhan anda untuk mendapatkan pelanggan, tidak strategi-satunya.
8. Dapatkan pekerja yang bagus
Carilah pekerja yang mempunyai budaya kerja yang baik. Kemahiran boleh diajar tetapi budaya kerja dan perangai sangat susah untuk diubah. Ambillah 5 orang pekerja untuk bekerja seperti 10 orang tetapi upah mereka untuk 8 orang .
Bekerjalah dengan bijak


Pengarang adalah prinsipal ElixirEducate - Pusat Latihan Siri Usahawan Bijak. Beliau adalah bekas pegawai bank pelaburan antarabangsa, pembiaya korporat dan kini adalah usahawan dan jurulatih perniagaan. Anda boleh mendapatkan maklumat lanjut mengenai ElixirEducate di laman facebook mereka, di sini. Dan jadilah kawan facebook-Yazdi. Sila berkongsi maklumat ini kepada rakan usahawan anda yang boleh mendapat manfaat daripada post ini. Terima kasih.

Growing succesfully for small and medium sized business

Those who expanded their business and make a lot of profit have these common attributes:

1. Know what they are growing.

They know the business model of what they are growing. They are clear that the business model that they are expanding is the model that have proven to make money. They grew income, not size. Growing your previously mostly retail, personalized business by investing heavily on project-based business has much lower chances of success as it is a new business model and has to be given time to mature.
 

2. Grew the customer base first

They expanded the customer base of their existing model by making their product better and reachable by many more. This would involve increasing the delivery channel to the customers as well as retaining more customers. Growth companies would focus more on retaining customers and the acqusition of new customers would be done indirectly by old customers.

Buying more stock and machinery is an expansion of size and cost - only worthwhile if you have the staying power and able to grow your demand to capitalise the resources.

3. Improve margin first, then numbers

Successful growth stories are about increasing profit margin by adding value propositions to the products and nurturing customer loyalty. Apple products do not shed price to capture, it constantly improves its products and increases/maintain its margin.

4. Leverage

They leverage on other people's resources. They do not expand solely by using their money or borrowings (borrowings is not necessarily other people's resources, it is merely your future resources). They expand by having smart partnerships and sub-contracting

5. Hold resources later and separate

Only when they have reached a critical mass do they expand to hold resources, raw materials. But the expansion is normally done through a different company because the business model and risk element is totally different from the original production-and-sales based business model.

6. Strong financial feel

Small and medium sized companies are very cashflow sensitive. Successful gworth stories always have an entrepreneur who has a strong financial feel for her company and able to detect possible cashflow problem before it happens. Strong financial feel also include being able to identify the cost/revenue mis-match as well as fraud loopholes. Weak financial feel would sink a company faster than a ton of brick in a lake.

7. Strong system and control

The existing business model must be robust and the key variables in the expansion/growth must be under absolute control of the entrepreneur. Any uncontrolled elements, such as pricing, delivery or product, which is left unmitigated (like insured and product liability clause) is a disaster waiting to happen.

8. Rely on professional

Big business cannot be run/operated like a small business. There is a reason why big companies hire expensive accountants and managers to work for them- because the nature of big business require them. Growing big without proper advise and support is not advisable at all.

9. Treat expansion plan like a start-up

Do invest and grow, but go through the process. And have plan B. If your expansion plan consumes so much resources that do not have room plan B, think ten times before you do it. In most cases, the expansion imploded.



Work smart everyone


The Author is the principal of ElixirEducate - a training house for Smart Entrepreneur Program Series. He was an international investment banker, corporate financier and now serial entrepreneur and business coach. You can find more information on ElixirEducate on their facebook page, here.  And be a facebook friend  of Yazdi . Please share this information with your entrepreneur friend who may benefit from this post. They could be an existing entrepreneur or someone who plans to start a business.  You can also join the growing business network of Entrepreneurs in Malaysia by joining this group. Thank you.

BIG Ideas for SMALL businesses

Hi there, here are some of the ideas that have proven to be useful to small businesses:

1. Put a little extra effort to really understand your customers.

Find out constantly about your customers and do it regularly, say every two weeks. Have a structured way to quickly assess the Who, What, When and Where of your customer. And then check back against your marketing effort and delivery channel to see if they are still relevant.

2. Be resourceful

Resourcefulness matters more than resources. Remember that money is just one of the resources and there are plenty to replace money. Always try to find internal resources before seeking external funding. Internal resources includes pre-selling and smart-partnerships. The moment you think that you have to buy something, hold back and negotiate with yourself - What is the real resources that you need with that money and how can you get it for free or less.

3. Think big and small

No, this is not about the lottery. Always make sure you have the ability to look into the details of each activities and yet able to zoom out to look at the big picture. One way to do this is to have a  business model of your company. A business coach normally helps a lot in this area.

4. Learn to negotiate

Negotiation is vital as it allows you to get what you what, how you want it and when you want it.

5. Cashflow, cashflow, cashflow

It is okay not to understand accounting but you must know where your money is and how does it flow. Be careful of cashflow hole; it will sink you fast.

6. Share fortune and share risk, intelligently

Get good business partners to venture into the project. No, I do not mean equity partners, but more of supply chain partners. And get a good lawyer who can draw up a good agreement. If the project is big, the lawyer would want to do it for the gain later too.

7. Use social media, intelligently

Web 2.0, the internet, is a brilliant social platform to market your product - ONLY if your target customers are there. The key is to mingle with the customers using social media. Blind utilization of website, facebook and emails would be useless. It must be part of your overall strategies to get the customers, not the only strategy.

8. Pay peanuts get monkeys


Hire the ones with the best working culture. Skills can be taught but changing culture tales a long time and expensive. Hire 5 person to work like 10 people but pay them for 8.


Work Smart People


The Author is the principal of ElixirEducate- a training house for Smart Entrepreneur Training Series. He was an international investment banker, corporate financier and now serial entrepreneur and business coach. You can find more information on ElixirEducate at their facebook page, here.  And be a facebook friend  of Yazdi . Please share this information to your entrepreneur friend who may benefit from this post. Thank you.