Money and Food

Lavender Foot Reflexology

2010-06-13T23:58:00.003+08:00

Lavender Foot Reflexology is located in Petanak, Kuching. Opens from 11am till 10.30pm daily.

Phone: (082) 248848

Address: 26, 1st Floor, Block C, Wisma Nation Horizon, Jalan Petanak, Phase 2, 93100 Kuching, Sarawak

Location map click (here)

Nearby hotels: Limetree, Longhouse, Grand Margherita, Riverside Majestic, Hilton

Borneo Reflexology

2010-06-08T15:30:00.005+08:00

Borneo Reflexology, featuring masseuses from Thailand, China, Philippines, Indonesia

Available in 3 locations:

Petanak: (082) 233333
Nearby hotels: Limetree, Longhouse, Grand Margherita, Riverside Majestic, Hilton
location map: click here

Ang Cheng Ho: (082) 245488
Nearby hotels: Hotel 360, Kingwood Inn, Kuching Park
location map: click here

101 Branch: (082) 457476

Nearby hotels: Four Points

location map: click here

Famous Honey Sea Coconut Drink

2009-11-15T17:52:00.003+08:00

Many people frequent the Song Kheng Hai food centre for the ABC, belachan bee hun, char kueh, fried kueh tiaw, etc. which I think are just average tasting. The only thing I found which stands out from the crowd is the honey sea coconut drink which is very refreshing on a hot day. The drink comes with a slice of lemon which adds to the taste and chewy bits of sea coconut. Make sure you check it out from stall number 24. You can also try the sugarcane mixed with coconut drink. Also a meat filled kompia (a.k.a. Foochow burger) from stall number 7 goes really well as an afternoon tea snack.

For location map, click here

Think and Grow Rich by Napoleon Hill (Part 4)

2009-11-08T09:48:00.010+08:00

This is Part 4 of my book summary of Napoleon Hill's influential success classic, Think and Grow Rich.

Hill was able to personally meet the most powerful and successful people of the 20th century for over 25 years. Through his work, he was able to formulate a philosophy of achievement based on real stories of real people who had used those techniques to create their successes. In a nutshell, his book teaches how we can put ourselves into the same state of mind as those who have created great wealth.

Practice 7: Reach Decisions Promptly

One thing that the wealthy people interviewed by the author had in common was every one of them had the habit of reaching decisions promptly, and changing these decisions slowly, if, and when they were changed. There are many people surrounding us that will try to influence our decisions with their own opinions but in the end, we are in control of what we ultimately choose. To acquire the habit of making prompt decisions, keep your eyes and ears wide open while keeping your mouth shut.

“Tell the world what you intend to do, but first show it”

Practice 8: Have Persistence

The basis of persistence is the power of will. Persistence is knowing that failures are just temporary obstacles to success. Many people believe that material success is the result of favourable “breaks.” If that successful person was not persistent in achieving his goals, that opportunity or lucky “break” would not have presented itself. Persistence is habit that can be cultivated with the following 4 steps:
Have a definite purpose backed by a burning desire to achieve that goal
Have a definite plan to achieve that goal, expressed I continuous action
Do not be influenced by negative and discouraging influences and opinions of your surroundings
Surround yourself with people who will encourage you to follow through with your plan and purpose
Let's put this "lucky break" in context of a singing contest audition. If you were a judge and you had to make a 50/50 decision on whether or not one candidate can make it to the next round or not, you take more than his talent in consideration. How he behaves and acts will project an impression to you and influence your decision. As the gatekeeper for the contestant, you will want him to show the confidence that if you let him through to the next round, he is going to do better and not disappoint you. This example is to illustrate that the simple act of believing you are lucky will increase the chances of you receiving lucky opportunities, partly because others will hope some of your luck will rub off them. This is the biggest secret lucky people know to create their own luck.

Continued from Part 3

To be continued... Part 5

Thienjing Reflexology

2009-11-05T19:12:00.013+08:00

One of the biggest reflexology massage centres in Kuching, Thienjing Reflexology is located at the unofficial "massage centre capital", Chonglin Park.

Phone: (082) 240881

Address: P-9-G-4B, Plot 9, Chonglin Park, Jalan Tabuan, 93200 Kuching, Sarawak.

location map: click here

Provides shuttle services to Kuching International Airport.

Famous Kuching Vinegar Noodles

2009-10-15T22:35:00.008+08:00

There are not many eateries in Kuching that you need to wait for a table; but at Next Coffee Shop on Carpenter Street, there is an average waiting time of 10 minutes. Being one of the longest running noodle coffee shop in Kuching, Next Coffee Shop is located along Kuching's colonial shophouses and is famous for their vinegar mee with "spare parts" (pig internal organs) soup.
Vinegar mee is not to be confused with Kuching's signature kolomee because it has its distinct sour taste compared to the salty/sweet taste of kolomee, even though the noodles have a similar texture. The "spare parts" soup is a mixture of pig internal organs, fishball and pork meat. The noodles can come with meat but customers usually order plain noodles to go with the meat in the soup. The fragrant sour taste of the noodles is what makes people coming in droves to this establishment. Taking 1 hour to find a car park, wait for a table, and having your noodles served is a common occurrence during the weekends.
If having good customer service is key to a great business, this coffee shop definitely breaks all the rules because not only is the food famous, so is the notoriously rude order-taker. Impatient customers are usually given a good scolding from him but that doesn't stop customers from coming. Customers just need to abide by an unwritten protocol:

"only speak when you are spoken to"

Here is a step by step guide to having a pleasant experience at Next Coffee Shop:

Order your drink when you are asked
sit and wait for the order-taker to come
place your order, but do not second guess whether or not he got your order right (BECAUSE HE HEARD YOU THE FIRST TIME),
wait some more for the chopsticks and spoon to arrive, an indication that your order is being processed, but do not ask if they have forgotten your order (BECAUSE THEY DO NOT FORGET)
your noodles will arrive shortly.

Important note: Don't try to be over-friendly or a Smart Alec with the order-taker! (see picture below), or you will be verbally dealt with accordingly

Next Coffee Shop open in the morning and closes after lunch. Do not expect to have a quick meal whenever you come because of the waiting time involved. For location map, click here

Think and Grow Rich by Napoleon Hill (Part 3)

2009-10-11T21:40:00.008+08:00

This is Part 3 of my book summary of Napoleon Hill's influential success classic, Think and Grow Rich.
Hill was able to personally meet the most powerful and successful people of the 20th century for over 25 years. Through his work, he was able to formulate a philosophy of achievement based on real stories of real people who had used those techniques to create their successes. In a nutshell, his book teaches how we can put ourselves into the same state of mind as those who have created great wealth.

Practice 5: Unleash your Imagination
Imagination is like a muscle; it grows stronger with regular exercise and weakens through inaction. It is a creative workshop that is limited by Man himself. There are 2 types of imagination; synthetic and creative imagination. Synthetic imagination is the rearrangement of old concepts, ideas or plans into new combinations, which I would summarise as evolutionary ideas. Creative imagination is the creation of new concepts, ideas and plans, which I would summarise as revolutionary ideas. Both types of imagination can create wealth, but great leaders of business and arts are people who have developed their faculty of creative imagination. Revolutionary ideas are the products of creative imagination which only functions when the conscious mind is stimulated, or vibrating at an exceedingly rapid rate. The commentary section of the book then goes on to give practical examples of imagination with the likes of Coca-Cola, KFC, McDonalds, Starbucks, 3M, Wal-Mart, and many more.

Practice 6: Practise Organised Planning
Planning is the transition between ideas from the imagination into tangible products or services. Align yourself with people who can review and contribute to various aspects to your plans and if your first plan fails, try another till you succeed. Being one of the longest chapters in the book, I feel that this chapter in a way sways from it's main topic into discussing topics such as:

The 11 Major Attributes of Leadership
The 10 Major Causes of Failure in Leadership
How to Write a Resume
The QQS rating of Service
The 31 Major Causes of Failure

In summary, this chapter emphasizes that in order to get something, you must clearly plan how to get it.

Continued from Part 2

To be continued... Part 4

Business Concept 7: The Culture of Excellence

2009-10-11T10:36:00.004+08:00

I just attended a 1-day corporate training workshop and here are some lessons that I thought were worth documenting down while still fresh in my mind.

Creating a culture / environment of high performance / excellence is about teamwork. It begins with 1, but also keep in mind that each and every 1 has a part to play no matter how insignificant 1 might think
A corporate motto can drive the message throughout the company, but each and everyone has to believe in the message and driven from top-down. Dwelling on this, I came up with the motto "Helping People"
We all have untapped potential we choose not to maximise. Look at handicapped people: The blind have a heightened senses of smell, touch and hearing. Those who cannot make use of their legs make up for them in their arms to the point that they are stronger than able-bodied people. Complacency and taking things for granted are roadblocks to most people
The kung fu masters of the old days would teach their disciples 9 out of the 10 steps they knew for fear that their disciples will outperform them in the future. They needed the 1 step to maintain the advantage, but what happens when their disciples take on new disciples? They teach 8 of the 9 steps they know for the same reason and this creates a culture of dwindling ability. Creating a culture of excellence is teaching the disciples all 10 steps so it forces you to learn and create the 11th step
Continuous improvement is an action, whereby when repeated, can turn into a habit that becomes second nature.

Thanks to Nicholas Choo for creating an interesting learning experience.

Best ABC in Kuching

2009-10-10T19:43:00.006+08:00

Air Batu Campur, also known in short as ABC, is a familiar dessert in Malaysia and Singapore. Different people call it different names. ABC is also known as Chendol or Ang Tau Chan Lut. Shaved ice, mixed with read bean, assorted gelatinous foods such as chan lut, sien chau, and jelly, with swirls of sweetener such condensed milk and coconut milk makes it a refreshing dessert during a hot day. Additions such as corn and tropical fruits are also available in its "special" version.

The best ABC in Kuching is located at a humble stall along the Waterfront. What makes it special is the traditional (manual) way he shaves the ice, unlike the motorised machines used everywhere else. Besides the method, his fresh springy chan lut, soft red bean, special blend of coconut milk and caramel sugar makes it different to any I have ever tasted.

Even the setting is unique in its own way. Sitting on the long wooden stools kinda makes you feel like going in back in time and watching cars drive by gives you a carefree feeling. I would put this little best kept secret as a worthwhile tourist attraction. You can even chill out at the VIP lounge with cushion seats in his van :)

The vendor starts selling late in the morning, around 11am till late evening, around 5pm. At night, another group sets up a burger stall there. The best ABC in Kuching can be found here: (click for location map)

Think and Grow Rich by Napoleon Hill (Part 2)

2009-09-21T12:06:00.011+08:00

This is Part 2 of my book summary of Napoleon Hill's influential success classic, Think and Grow Rich.
Hill was able to personally meet the most powerful and successful people of the 20th century for over 25 years. Through his work, he was able to formulate a philosophy of achievement based on real stories of real people who had used those techniques to create their successes. In a nutshell, his book teaches how we can put ourselves into the same state of mind as those who have created great wealth.

Practice 3: Hypnotise Yourself with Auto-suggestion
The basic principle underlying auto-suggestion is closely related to hypnosis. Auto-suggestion is "tricking" your subconscious mind into believing something because you genuinely believe it. Once achieved, your subconscious mind will unleash powers your conscious mind (what you know), do not realise. To do this, you have to have a goal i.e. how much you intend to make, followed by how you plan to achieve this. Repeat this in your mind, including what you are willing to give in return for your goals. You can also surround yourself with books, pictures, mottoes and other suggestive devices that symbolise and reinforce achievement and self-reliance. Remember that you are the master of your own fate, and not a victim of your surroundings and background.

Practice 4: Acquire Specialised Knowledge
Knowledge is power, but is of little financial value unless it is organised and intelligently directed through practical plans of action, to the purpose of accumulation of money. If you plan to be an employee, it means acquiring the knowledge to carry out the tasks required of the employer. In business, it it means acquiring the knowledge to expand and improve your business. General knowledge is limitless and easily accessible through libraries and the internet, but most people lack the ambition to acquire the knowledge they can commercialise. You do not have to be the most knowledgeable person on the planet to make money, just specialised knowledge you can commercialise and opportunity with, with notable examples such as Bill Gates and Henry Ford.
Yes, rich men are lucky because:
LUCK = Labour Using Correct Knowledge

Continued from Part 1
To be Continued... Part 3

Business Concept 6: Target Market

2009-08-27T17:01:00.003+08:00

In every business, you have to know who your customers are. If you don't, you have to make a profile of the customers you want, so you can customise your products and services to suit their needs. The clearer you are about your target market, the better you can cater for them. Take for example the tale of 2 coffee shops located side by side at a highway rest stop pictured below:

You can see that the coffee shop on the left has at least 5 tour vans parked outside and the coffee shop on the right is empty. Why is this so? Here's my interpretation of their business plans:

Lee Chong Cafe (left)

Target Customers: high volume, high revenue customers = tourists

Where to find them: Tour agencies, so need to visit their offices in town to make arrangement for them to send their tourists to dine here.

Decision maker's concerns: Quality of food, cleanliness, tour guides taking tourists elsewhere and making money on the sidelines

How to address their concerns: Create a set lunch comprising of local dishes complete with dessert (which equals to more sales revenue), use table cloth so tables can be cleaned quickly, create cashless payment vouchers and signed by coffee shop owner.

Jia Shing Cafe (Right)

Target Customers: nearby residents, anybody who stops by

Where to find them: Don't need to, just wait for them

Decision maker's concerns: cheap food

How to address their concerns: Create a cheap menu using the cheapest ingredients

Lee Chong Cafe is operating at a higher profit margin and higher volume compared to Jia Shing Cafe even though they are in the same type of business located next to each other. Thinking and planning that little bit extra can make such a big difference to your business.

Best Kueh Chap in Kuching

2009-08-26T17:30:00.013+08:00

Kueh chap is another signature dish of Kuching, but less popular than the kolomee and laksa. One reason it is less mainstream is because of the ingredients used i.e. pig internal organs such as stomach, liver, ear, tongue, and intestines, which might not be everyone's cup of tea. Kueh chap is unique because of the large pieces of flat noodles cooked in a thick stewed soup. Other ingredients include hard boiled eggs and boiled chicken feet. You can customise what you put in you kueh chap and if you are not adventurous like I am, you can just tell the seller you don't want any "spare parts", which refer to internal organs, like the one pictured below:

Sometimes it's hard to find kueh chap when you want it and even harder to find a really really good one. My pick is the kueh chap stall at Poh Kwong Park. It's just a small stall located in a vacant open-spaced car park lot. One of Kuching's best kept secret, is hard to find because it is hidden behind the shoplots in Poh Kwong Park, a residential area. For location map, click here.

The stall doesn't have a name, so I refer to it as Poh Kwong Park (PKP) kueh chap. It is a very humble stall with a humble owner (pictured above). What makes this kueh chap better than any others out there is his kick-ass belachan chilli. I always pour the first serving of belachan chilli into my soup and ask for another for the meats. The belachan chilli is really in its own class: strong in taste, not overly spicy, and a perfect addition to the stewed soup. This gives the kueh chap in PKP a very unique taste.

(Mind you, kueh chap already has a very uniquely Sarawakian taste).

Opens after 6pm, PKP kueh chap serves dinner and supper till around 9pm. He rests on Saturday and it might be a bit tricky eating there when it rains.

Think and Grow Rich by Napoleon Hill (Part 1)

2009-08-23T22:35:00.008+08:00

This is Part 1 of my book summary of Napoleon Hill's influential success classic, Think and Grow Rich.

Practice 1: Create a Burning Desire

Every person who wins in any undertaking must be willing to burn his ships and cut all sources of retreat. The example given was a great warrior burning his ships after landing in enemy territory where they were outnumbered, so failure was not an option for their men. Desiring riches with the correct state of mind that becomes an obsession , then planning definite ways and means to acquire riches, and backing those plans with persistence that doesn't recognise failure, will bring riches.

Wanting to be rich and having a burning desire to be rich are 2 different things. To bring yourself into the correct state of mind, you have to be able to see, feel and believe that you have already achieved that goal. This is the same psychological exercise that forms the basis of hypnosis and auto-suggestion

Practice 2: Maintain Unshakable Faith

Faith is a state of mind which can be created by conscious repeated instructions to the subconscious mind. Faith, or belief, is a thought that you can control i.e. you are able to control what thoughts to put in your mind. This is a very important concept because what you put in your own mind, will affect your subconscious mind, which will affect the decisions you make, which will affect the actions that you take, which will affect the results that you get. Having a strong self belief and clearly defining what you plan to achieve will plant the seeds of faith that will influence your conscious attitudes and actions.

This concept was also discussed in my earlier article, The Mindset.

To be Continued... Part 2

What I Learnt from a Self-Made Multi-Millionaire

2009-08-16T18:05:00.010+08:00

I got the honour of spending 4 days with a self-made multi-millionaire from Taiwan. With over 95 countries under his distribution network, it is no surprise that he is one of the smartest businessmen I've ever met. What makes him stand out from the crowd is his knowledge in marketing. He is also a voluntary invited speaker to MBA courses in Taiwan universities. The following are some business concepts that I learnt from him during my brief encounter with him:

1) Find the right customers

There are some hotels that charge $100 a night and others that charge $1,000 a night. There is no point arguing which rate is reasonable because the value is determined by the guest. Guests that stay at the $100 hotel value a no-frills hotel, whereas guests at the $1,000 hotel value comfort, service, security, class, hygiene, etc. Instead of spending time, money and energy into converting one type of guest into another (sales skills involved), it is more efficient to use those resources into finding more guests of that same type (marketing skills involved).

Commentary: I wrote an article earlier explaining sales vs. marketing. As an analogy to the paragraph above, sales is like trying to convert a person from one religion to another, whereas marketing is finding a location where the people are free-thinkers and trying to convert them. Directing your resources into marketing, followed up by sales, will make your business more efficient.

2) Have a strategy - and maintain it

You have to acknowledge that you cannot satisfy everyone. If 80% of your current customers share the same characteristics, you must be aware that your current business strategy is catering to their needs. There will be criticisms coming from the remaining 20% and you will be tempted to change your strategy for them but bear in mind how it will affect the 80% majority. If you will lose customers from your majority to cater for the minority, then it is not worth doing. Keep doing what you are doing right.

3) Capturing the city

When asked why he picked Chile in South America as the first country when expanding overseas, he replied,

"The biggest market is the USA, but as in the art of war, you do not attack a main city head on because it is the most heavily fortified. To capture the main city, you first take on the weaker surrounding villages. After you have captured the surrounding villages, it is easier to take on the main city."

4) Show concern to your customers

Showing that you care for your customers will add value to your product, especially important for a product that is competing in the premium range. This is why his company's motto is "Care about your products, and show concern to your customers". The company encourages their distributors to find a low cost way to show customers you care even though there is no transaction, using the example of an optometrist cleaning your glasses for no charge even though you do not buy from them.

5) Have a strong competitive advantage

Being the only brand from Asia of his category in one of America's largest distributor is not an easy feat to achieve. These are his competitive advantages to stay ahead of the game:

One stop shop - His brand has the biggest range of products so his customers do not need to look for other brands to find what they are looking for (example of doing thing better)
Ahead of the game and continuous improvement - His products are always the trendsetter and continuously improved in quality because the company invests heavily into research and development (example of doing things faster and better)
Great quality products at a reasonable price - Because of continuous improvement and strategically located, his products are cheaper (not cheapest) than comparative products in the same quality (example of doing things cheaper)
Unrivalled marketing knowledge - With 30 years of experience and a wide global distribution channel, the company can provide advice and recommendations to new distributors on how to increase their sales volume (example of doing things better and faster)

6) Get a "lost leader"

This is a marketing concept which supermarkets use a lot. They advertise one product at 30% off to draw you to their shop with the idea that a shopper will end up buying more than just that 1 product on sale. When trying to widen his distribution network, the businessman made it a point to sell at least ONE product when the distributor has no interest in any of his products. Even having only 1 product on his shelf has a chance, however small it may be, for a re-order. If you leave empty handed, you get ZERO chance for future business. That 1 product on his shelf may open doors that might otherwise be impossible.

Best Tomato Mee in Kuching

2009-08-03T17:45:00.003+08:00

The tomato mee is another signature dish of Kuching and Sarawak because it almost exclusively available only in Sarawak. I like to call it the local version of spaghetti bolognaise. The outstanding features of this dish is the fried crispy noodles and the tomato sauce gravy that is used to pour over the noodles. Newly opened in 2009, Cafe De Margherita serves the best tomato mee I've tasted so far. What makes it the best is the thick tomato sauce gravy. Many noodle sellers skimp on the tomato puree used to cook the sauce so it ends up tasting quite bland, but not the one at Cafe De Margherita though. You can literally see the chef taking a big scoop of tomato puree and cook it over such a fierce fire, that you would think they would go through a barrel of cooking gas every night. With that said, it is worth paying the above-market price of rm 5.The chef and staff never fail to greet me with a smile every time I dine there. Good food, friendly staff and a clean place to dine for dinner and supper. Cafe de Margherita is located on Green Hill Road, just opposite the more established Ah Ka Su Seafood Restaurant. For the location map, click here.

Check it out and leave a comment after you've tried it.

Sunflower Foot Reflexology

2009-07-16T23:48:00.008+08:00

Sunflower Foot Reflexology features traditional Chinese style points massage and Thai style massage. Opens daily from 10am till 10pm.

Phone: 016 8931940

Address: 14, E-15, Ground Floor, Block E, Wisma Nation Horizon, Jalan Petanak, 93100 Kuching

Nearby hotels: Limetree, Longhouse, Grand Margherita, Riverside Majestic, Hilton

The 4 Levels of Wealth

2009-07-16T23:27:00.004+08:00

Adam Khoo is one of the smartest Singaporean business authors I've ever come across. His book titled, Secrets of Self-Made Millionaires, is a very easy read and summarises many business and money concepts taught by other great authors such as Robert Kiyosaki. In chapter 5 of his book, he writes on the 4 levels of financial wealth (summarised with my own words), in ascending order:

Level 1: Financial Stability
- without having to work, you have enough money that can sustain your most basic lifestyle for at least 6 months

Level 2: Financial Security
- without having to work, you have "money making machines" that can sustain your most basic lifestyle indefinitely

Level 3: Financial Freedom
- without having to work, you have "money making machines" that can sustain your current lifestyle indefinitely

Level 4: Financial Abundance
- without having to work, you have "money making machines" that can sustain your desired lifestyle indefinitely

Famous Kuching Sio Bee

2009-07-03T22:05:00.005+08:00

Just like my favourite har gau tim sum, the famous Kuching sio bee is a localised version of the standard "international" dumpling (or siu mai in Cantonese). The taste and texture is totally different, so it is a must-try if you're from out of town. The sio bee goes really well with the sweet chilli sauce, which is not very spicy. You order by the number of sio bees you want and each cost rm 0.60 at the time of writing. Compared to what you get in West Malaysia, the size of the sio bee is pretty good value for your money. The soya bean drink they serve is also very refreshing, especially during a hot day.
This sio bee establishment, Sin Kwang Heng, is of legendary status amongst the locals. It is located in the centre of town, referred to as "open-air market". It's a recommended place to go for a light afternoon tea or supper. As with the har gau place recommended in an earlier article, the selection of tim sum is pretty limited here as well. That's not really a problem because almost everyone who patronises this place is there for the sio bee.

Open-Air market location map (click here)

Things to to in Kuching during RWMF (Part 4)

2009-06-29T18:23:00.007+08:00

Rainforest World Music Festival (RWMF) is fast approaching, so here's recommended activity #4 to do in Kuching:

Visit the Beach

Kuching isn't famous for its beaches because you do not find white sand with blue waters here. Most people would recommend Damai Beach resort because it's the more commercialised one, but if you have the time to spare, you're better off going to nicer ones which are further out of town:

Pandan Beach (pictured below) is roughly 2 hours drive from Kuching and is a lot more beautiful than Sematan or Damai Beach because there are more coconut trees and the beach is clean. There is a canteen selling coconut juice and other refreshments which is great if you're spending the afternoon there.

Sematan Beach (pictured below) is approximately 30 mins drive from Pandan Beach. You'll find a pier which locals use to fish. Ideal to have a sunset dinner by the few coffee shop style restaurants there.

I would recommend to head to Pandan Beach first arriving at around 3pm, then head to Sematan Beach at around 5pm for a sunset dinner.

Sematan Beach location map (click here)
Pandan Beach location map (click here)

Business Review 3: Massage Centres

2009-06-29T15:38:00.004+08:00

What's the difference between a massage centre and a foodcourt? At first I didn't think there were any similarities until I was enlightened by how massage centres operate from a friend...

My friend told me that massage centre bosses usually get their employees from referrals from their current employees. He would help to arrange the travel documentation and provide them accommodation. I used to think that accommodation and food would be included in their employment agreement, but according to my friend, it isn't. Accommodation rental is charged to the masseurs, together with other services like food catering and transportation. This is where I think is the brilliant aspect of this business.

The massage centre bosses have 2 income streams:

paying customers who come for a massage
their own staff who pay - royalty for each massage transaction, rental for accommodation, charges for transportation, food, travel documents, etc

So even when a massage centre has zero customers, income derived from his own staff can offset some of the fixed charges he has to pay. The massage centre boss is basically creating an environment for the employees to work and make money, while charging "rental" as an income stream. Once again, the concept of helping others make money applies here.

If you put this in the context of a typical foodcourt, the masseurs are renting the place like renting a stall which requires them to pay a rental to the foodcourt owner. The foodcourt owner sells drinks and the volume of drinks he can sell is dependent on the quantity of customers who patronise the foodcourt. The quantity of customers is dependent on the pulling power of the stalls collectively. This foodcourt drinks business is like the royalty the boss earns from every massage service carried out by the masseurs. The boss has to ensure the quality of massage remains at a high standard to pull in crowds because this will not only increase the amount of money he receives from the royalties ("drinks" business), but also the chargable services ("rental" business) he earns from the masseurs. When masseurs can make money, they will recommend friends or family members to come work for the boss, which increases the income derived from his "rental" business. 1 action can grow 2 streams of income. You can consider it unethical or inhumane the way some of the bosses run their businesses, but as an income-generating business model, it is simply brilliant...

Italian Buffet at Ristorante Beccari, Merdeka Palace

2009-06-23T13:06:00.006+08:00

There are not many Italian food outlets around town, let alone Italian buffets, but Ristorante Beccari at Merdeka Palace Hotel puts on quite a good spread. Ambiance is warm and cosy, place is nicely decorated and food quality is surprisingly above expectations.

There is a good range of tasty Italian appetisers which I won't even bother trying to spell...
Open-concept kitchen with fire-oven baked pizzas which adds to the authenticity...

Pick your pasta, then pick your sauce, and have it cooked on the spot by the restaurant chef. I thought all bolognaise sauces were the same until I tried theirs which was surprisingly different...

Desserts galore...Overall, a great dining experience. Not the type of buffet where you go and see how much food you can stuff in your stomach cos you'll be pretty full from the pasta and creamy sauces. The buffet is only available on Sunday evenings starting from 6.30 pm till 10 pm. It costs rm 59++ per person which is rm 67.85 after the stupid service and government tax.

Merdeka Palace Hotel can be reached at: 082-258000
(location map)

Things to to in Kuching during RWMF (Part 3)

2009-06-22T18:03:00.006+08:00

In the 3rd of my RWMF series, here's another recommended touristy thing to do in Kuching:

Go Kayaking in the Rivers of the Rainforest

Other than visiting the caves in Bau, going kayaking along the rainforest rivers is a very good way to soak up the Sarawak experience. The waters are calm so it soothes the mind when you want to get away from your hectic work lifestyle.

You get magnificent views along the river journey such as rock formations, untouched greenery and scenic landscapes. This activity takes almost a full day and it's well worth doing if you have a day to spare in Kuching. It is a safe activity for all because it is supervised by experienced guides and the waters are not rough and wild. You need to have the tour pre-planned with the company that runs it. For more information and contact details, visit the owner's blog at:

http://www.fh2o.kuchingkayak.com/

Business Concept 5: Humans Vs. Systems

2009-06-05T18:19:00.009+08:00

No, I'm not referring to Terminator here... I'm talking about the relationship between humans and systems in a business. Consider this scenario:

The accounts department gets confused by the many pricing structures of a company. There are:

limited-time price promotions
free gift with purchase
quantity discounts

If you asked the accounts department to bill a customer based on his previous invoice, how can you make sure it is not billed based on a promotional price? When a mistake is made who do you blame - The person or the system? There is a difference and it is important for a business owner to understand the difference. The lazy, easy and common way is to give the accounts clerk a good scolding and hope that the mistake doesn't repeat itself. But what happens if the clerk is on leave and another person has to take over the job and makes that mistake?

The alternative to a good scolding, provide intensive training, multi-level checking, etc is to try to improve the system so that we close the loophole to prevent another repeat incident. How about creating a special code for all non standard items? This can be a form of a promotion invoice tag or promotion product code, so when the account clerk is about to price an item, promotional items are clearly marked. This will lead to less confusion, therefore less mistakes in the future.

Do you improve man to compensate for a weak system, or do you improve the system to compensate for the unpredictable man? I believe that humans are too variable and unpredictable to be depended on. Humans are emotional beings and performance can be affected by many outside influences. I also believe than systems should be set up to be run by people rather than people running the system. In order for a business owner to go on a long holiday and not worry about things going wrong while he is away, he will need to set up a foolproof business system. Remember: a self running business is the difference between a self-employed and a business owner as defined in the earlier article, "How to Make Money". If the business system is not foolproof to be run by employees, the owner can never take himself out of the business and his income will be proportionate to the time he puts in the business.

Best Kolomee in Kuching

2009-05-28T13:00:00.008+08:00

It's hard to get an agreement on the best signature dish of Kuching, but my pick is Hong Hing Cafe located in the city centre. When ordering this dish, make sure you specify that you want "cha sio iu" or the red sauce, otherwise it comes without. The red sauce is what makes the noodles at Hong Hing Cafe stand out because it gives it a fragrant sweet flavour. You can order wonton or mixed meat soup to go as a side dish.

The stall opens for breakfast but sells out usually by 12pm, so if you want to take it for lunch, it will have to be an early lunch. You will see on the signboard above the stall reads "Kuching (Green Road) Kolomee" because this is a branch of the famous kolomee stall along Green Road called Sin Lian Shin. The noodles are so famous that it now has Hong Hing Cafe as a branch, and another at MJC Batu Kawa, where they operate a whole foodcourt by themselves.

The founder of the kolomee started off by selling his noodles to office employees using his motorcycle. He is now the only noodle seller that I know that drives a Mercedes E-class and has 3 branches across town.

Both the HQ and the foodcourt do not serve the soup side dish which is why I recommend the one at Hong Hing Cafe just for that extra variety.

Location Maps:

Hong Hing Cafe (click here)

Operates morning till late morning.

Sin Lian Shin Cafe (click here)

Operates morning till late afternoon.

(Picture coming soon)

Sin Lian Shin Foodcourt (click here)

Operates morning till night.

Things to to in Kuching during RWMF (Part 2)

2009-05-21T17:31:00.003+08:00

This is Part 2 of the Rainforest World Music Festival series where I'll b showcasing things to do in little ol' Kuching so that the city slickers wouldn't complain of how boring my hometown is. Sarawak is known for it's humongous caves, but that's in Mulu, which you need to take a plane to get to. Here's an alternative that is only 45 minutes drive from the city centre.

Visit Wind and Fairy Caves

Easily reachable by car, this is a convenient and fast way of getting the Sarawak cave experience. The Wind Cave is tourist-friendly and safe because there are proper wooden platforms to walk along. There's a tourist information centre where you can rent a torchlight which is included in the rm 3 entrance fee you pay.

You get to see interesting rock formations and little bats that look like more like baby birds flying above. It takes less than 30 minutes to explore the cave. Pictured below is one of the three entrances where you can enjoy a continuous airflow of wind in your face, hence the name Wind Cave.
Fairy Cave is just 10 minutes' drive away from Wind Cave. I didn't explore Fairy Cave because I was put down by the many flights of stairs one needs to climb to the entrance. Pictured below is the entrance which is already breath-taking:

This is a recommended tourist activity to do in the afternoon when you don't want to be under the hot sun. Remember to bring a cap for the hot sun and bats' droppings!

Business Concept 4: Sales Vs. Marketing

2009-05-13T17:41:00.011+08:00

Many people cannot distinguish the difference between sales and marketing. We all know that the economy is about supply and demand. So in a nutshell,

Sales is about creating supply, and
Marketing is about creating demand.

In the context of war, the sales team is like army soldiers. They fight in the battlefield and their success depends on their fighting skills. The more skillful they are at their combat ability, the more opponents they can kill. The marketing team is like the army general. He plans the battles, chooses the battlefield, looks at weather conditions, research new weapons, and finds the most effective way to counter the opponent. His skill sets are different from the army soldiers, but his decisions will affect the soldiers. Even when the soldiers are outnumbered or less skilled than their opponents, strategic decisions made by the army general such as fighting in a downwind or downslope direction can make or break the battle.

A great example to illustrate sales and marketing is the (hypothetical) story of the shoe salesman of Africa: There was this shoe company who sent a salesman to an African village to sell their shoes. After spending one month at the village, he came back to the office and told his boss, " I've tried my best, sir. These tribal people are used to being bare-footed. They don't even need shoes to walk on the hot sun baked ground. There just isn't a market for these shoes". Unable to accept this excuse, the boss fired this salesman and sent another one on the same assignment. The second salesman came back one month later with the same excuse. The boss fired the 2nd salesman and sent a 3rd. Half a month later, the 3rd salesman came back to the office and told the boss, " there are 200 people in this village so I'll need 400 pairs of shoes to sell this month. Oh ya, and also pack me 3 boxes of broken glass"

The difference between the 3rd salesman and the 2 before him is his ability to create demand. Some might not agree that sprinkling broken glass just to make a sale is ethical (and I'm not saying it is), but that is not the point of the story. The story above shows that creating supply by sales skills alone is not enough is some cases. Even if there is no demand for the product initially, demand can be created; and this job of creating demand belongs to the marketing team. Sadly, marketing is not widely practiced for a few reasons:

lack of knowledge and expertise in the marketing field
lack of budget for marketing programmes

I do not need to elaborate on sales skills because it's quite self explanatory. Most companies only spend money to hire the best salesman that can push their products but think of the marketing team as an expense with no clear return on investment. Business works well when there are push and pull strategies akin to yin and yang. Sales is a push strategy and Marketing is a pull strategy. Understanding the difference will give you an edge in your business because once you start asking yourself "how do I create demand for my products / services" you will have a different viewpoint on the way business is conducted similar to the shoe salesman in the story above.

Let's make up a scenario for an example: You have a new brand of fishing rod to sell to the market. Most businesses would get a salesman to drive around town for all shops that sell fishing equipment and try to convince the boss of that business to try out your new product. This is a straightforward sales strategy (without marketing), and needless to say, you can imagine the results of this plan - Unpredictable, and basically praying for good results

How about this as a different approach: Before I even approach a fishing equipment retailer, I approach the local fishing association and ask if I can take up an advertisement in their monthly flyer / newsletter. I would prepare an advertisement complete with testimonials from satisfied users from overseas. Before they publish the advertisement, I would send out my salesmen to all fishing equipment retailers (where most would happen to be members of the fishing association) and tell them that I would insert their business in the advertisement as so interested buyers who see the advertisement could contact them to buy my product. Wouldn't you agree that this would make it easier for the salesman to push the product because you have in a way created demand on behalf of the retailer? This is an example of how an army general (marketing team) can create an advantage for the soldiers (salesmen) on the battlefield (market) just by applying marketing intelligence (push and pull strategies working together). This example also illustrates how thinking of helping others make money first, will help you make money down the line as discussed in my earlier article, Helping Others Make Money First.

Best Butter Prawns in Kuching

2009-05-12T17:12:00.004+08:00

Most people will say the best Butter Prawns in Kuching can be found at the Sarawak Club Chinese Restaurant. That's a private, members-only club, so I'll recommend the one at Li Garden, inside the Hock Lee Centre Building (location map here).

There are many styles of cooking Butter Prawns, but this is my favourite style because the creamy sauce is so fragrant and the prawns are ready peeled so you can eat them whole. Goes well with rice because the cream is rich and sweet. There are many prawn dishes at Li Garden (such as Butter Milk Prawn and Baked Prawn with Corn) so it might be confusing to pick the one recommended here. This is Baked Prawn with Butter Sauce. It comes with diced chilli sprinkled on the prawns, but not shown in the one pictured below because I requested it be cooked without the sprinkled chilli.

Another gem I accidentally found at this restaurant is the Wrapped Ham with Mayonnaise Sauce. I came across it when eating the 4-dish appetiser during a function at this restaurant. It's not on the menu, so you will have to request it from the waitress captain.

Just as tasty as the Butter Prawns, and just as fattening, but sinfully good. This air-conditioned restaurant is a good place to have lunch and dinner

Things to to in Kuching during RWMF (Part 1)

2009-04-22T21:57:00.005+08:00

There's only one big international event in Kuching that can bring in foreigners: The Rainforest World Music Festival (RWMF) happening from 10 till 12 July 2009. It's only during that time of the year you would find hotels fully booked and more foreigners walking around town. Kuching is gearing up for this event, which is why I'm starting my "RWMF series" on things to do in Kuching. Part 1 in the series:

Visit Orangutans at the Semenggoh Wildlife Centre

For a RM 3 entry ticket, this has got to be one of the best value for money tourist experience you can get in Kuching, especially if you have not seen orangutans. Feeding times are 9am and 3pm, so you'd want to get there half an hour before feeding times. When they come towards the feeding place, you can see the top of trees moving. This is very interesting and it gives me the same suspense feeling as a T-Rex or King Kong coming in my direction.

The orangutans are not caged and roam freely in the wildlife park which is a rehabilitation centre, so they only come out for viewing at their feeding times. The number of orangutans that come out for viewing is not guaranteed. They feed for about half an hour and then disappear into the forest. You can get real close to the orangutans if they decide to wonder towards you. Forget about using public transport to reach this place because it's 45 minutes away from the city with no clear signs at the entrance or along the way. You're better off with a local friend, taxi or tour group.

What I Learnt from a Multi-Million Dollar Sales Manager

2009-04-13T19:59:00.010+08:00

The following are notes taken from a meeting I had with a sales manager of an international multi-million dollar company. It deals with sales strategy and inventory management:

The 20/80 rule: Business schools teach this, applies in real life – The 20% of your top sellers contribute to 80% of your business revenue. This is the bread and butter of your business. Track your 20% top sellers on a monthly basis in terms of:

sales revenue – ensure they do not drop and if they do, find out why quickly
competitors' price and sales volume for the equivalent product / service – find out if you can do anything to increase your market share.
Your market share compared to your competitors' – this can be a simple estimate by looking at the proportion of your products relative to your competitors' on the shelves.

Your 20% top sellers are your ricebowl and do whatever you can to defend your territory. Ensure they maintain a competitive advantage (see earlier article here). The 20/80 rules also applies in business effieciency i.e. you should be spending 80% of your time and money in the top 20% to ensure the biggest return. Delegate the other 80% to others for maximum effectiveness.

If your competitor launches an attack on your ricebowl a.k.a your 20% top sellers, take urgent action, but be rational about it. For example if they offer a competing product at a discount for a limited period and the market has already been saturated, don't jump in and st on the same item asart a price war when not many left will be buying. Think rationally and take alternative steps such as launching a discount on a diffferent product that happen's to be the competitors' ricebowl.

Inventory Forecast– This is a very simple concept I never eveb thought of until the sales manager showed me. To decide on which products to push for inventory clearance, do the following:

Do a monthly average sales of each product by unit
Find out how much each product you have in stock
Divide the stock level of each product by the average sales figure – this will give u the number of months it will require you to clear the inventory based on historical performance
Sort the list by the highest number of months to clear to the lowest.

Now you have a list of items you need to find ways to clear ranked by urgency. An example of this would be a product that has sold 3 units in the past 6 months.

3 units / 6 months = 0.5 units per month
If we have 5 units left in stock, it would take us:
5 units / 0.5 = 10 months to clear

Simple math, simple concept, almost common sense, but seeing 5 units left in your store room does not give you the same urgency as knowing it will sit there for 10 months before it's sold out. It's just a different, but very useful way of looking at things. This method of inventory management also helps you plan sales and financials as you know that you would not need to place an order for this item for, say, another 8 months.

Best Chicken Pau in Kuching

2009-04-02T22:53:00.010+08:00

I'm not really a pau person, but the only one that manages to tickle my fancy is the one along the old shophouses of Padungan. The bun is soft and the chicken meat inside is fragrantly marinated. So well marinated, that as someone who hates ginger, I only discovered they put ginger in it after years of eating it. The little slice of egg in the pau always makes it a pleasant eating experience.

The place is called Sin Kwang Foochow Big Pau (location map). The chicken pau is non oily, so is ideal to be taken for breakfast or afternoon tea with a nice cup of coffee. It's also a convenient meal on the go, but parking can sometimes be a problem along this busy stretch of road during working hours. The size of the pau definitely lives up to its name. A "small" pau that costs rm2 can easily satisfy the appetite of most people, but for a rm1 upsize, you get this huge blob bigger than the size of my palm!

Woah, that's one humongous pau

My Money is Rotting in the Bank!

2009-03-29T14:39:00.005+08:00

The Government recently announced that the inflation rate for Malaysia in February 2009 was 3.2%. The current interest rate for my current account savings is 1.25%. This means that the money in my account is rotting at a rate of roughly:

1.25 - 3.2% = -1.95% per year

That kinda sucks. Well I have another foreign currency account holding New Zealand dollars that's giving me an interest rate of 4.99%. The inflation rate for New Zealand in January 2009 was 3.4%. Without taking into consideration exchange rate fluctuations / risk, my New Zealand dollars are doing fairly better growing at roughly

4.99% - 3.4% = 1.59% per year

I chose to hold my savings in New Zealand Dollars for the following reasons:

New Zealand has the highest interest rates among all developed countries (I was getting 7.99% p.a. for my savings account before the credit crunch hit)
The Governor of the Reserve Bank of New Zealand practically has the target of keeping inflation between 0% to 3% written in his job description - so he will not give-in to pressure from businesses to lower interest rate for the sake of economic activity
New Zealand is politically stable and very much less corrupted
Bank savings are now guaranteed by the Government

The rule of 72 is used as a quick way to estimate how long it will take your money to double in years. Just divide 72 by the return on investment per year. So in the case of my NZ current account, it's:

72 / 4.99% = 14.4 years.

Damn... if I have $10 in my bank account, it will take me 14.4 years for it to grow to $20. And that's not even taking into account of inflation! If you take inflation into account, the time it takes my purchasing power to double becomes:

72 / 1.59% = 45.3 years.

That's very sad... That's also the reason why I'm still studying businesses and investments because only these financial vehicles offer a higher annual return on investments, which decreases the time it takes for money to grow.

Business Review 2: Burger Times

2009-03-09T15:46:00.018+08:00

There's one thing the local people do well... selling burgers. It's a convenient supper snack because there's one in every corner of town. Someone came up with the idea to modify Burger King's logo and make it their own, renaming it Burger Times.

They are relatively safe from copyright infringement because Burger King doesn't open a restaurant here. The burger is nothing special and is priced higher than others. I hardly ever buy from them because there are better burgers out there. I am reviewing this business not because I like the product, but I think there is some great thinking behind the idea.

There are roughly 6 of these burger stalls in various foodcourts around town. They have the same standard menu. The beef cheese burger that usually cost me rm 2.20 elsewhere cost rm 3 here. The business ideas I like from this business are:

No direct competition - By selling at foodcourts, there are no other burger stalls that operate there for a simple reason; rent. Many are not willing to sacrifice profitability for this expense which makes Burger Times the only operator selling burgers. In business terminology, this is called "competition barriers to entry"
Captured audience - Once customers sit down at the foodcourt, they usually do not change venue to dine. If a customer feels like eating a burger, they do not have an alternative. And most people do not dine alone; they have friends or family members with them. This is unlike the customer base from regular burger stalls that can drive on by.
Social networking - By employing youths that fall into the target market of this product, the boss is indirectly taking advantage of his employees' social circle and turning them into customers.
Economies of scale - By purchasing and preparing ingredients from the main station for the other branch stalls, they are more efficient in terms of man power and cost.
Time leverage - By having standardised menus and ingredients, the boss doesn't need to spend his time cooking for each of his customers. He multiplied his productive time by the amount of stalls he has out there i.e. time is now not a limitation to his income. Where others slave to make say 40 burgers a night, he can make 6 times that amount (taking 6 stalls as an example) and is only limited to how many more stalls he can open.

The Burger Times van being loaded with supplies at the main station for branch stalls at the start of the business day

I do not like the burger, but I admire the business. This is the concept behind how Ray Kroc turned Mc Donalds into the giant franchise it is today, starting by selling burgers... Many can cook a better burger than Mc Donalds, but they are conveniently located everywhere around the world with standardised recipes. If you're able to sell a sub-standard, over-priced product like Burger Times and still make money, you're not a good chef, but a marketing genius. Who cares about your ability to cook a good burger when you have money in the bank?

Business Concept 3: Helping Others Make Money First

2009-03-08T19:06:00.009+08:00

Robert Kiyosaki mentions in one of his books: to learn how to make money from business, first learn how to make money for others. Quite a confusing concept for me until I thought about it more.

A self -running business requires an operational framework or system that enables employees to run and operate without the business owned being directly involved. He would have to think about the operations, how to control standards, monitor performance, etc., just to name a few things. If you read my previous post on "How to Make Money", the 2 examples of self-running businesses were a franchise and multi level marketing (MLM). Both of these require you to teach others how to make money first before they make money for you.

It is for this very concept that has made my dad into the successful businessman he is today. In a time where quality products were hard to find locally, he pushed a quality branded product into the market as a distributor by selling them off to retailers. Of course, when customers could buy a quality product that they want, they were happy and the retailers made money. They more money the retailers made, the more they ordered from the distributor. Selling a branded product also elevated their status from just "Trader XYZ" to "Trader XYZ, authorised agent of ABC Branded products". The better their image was, the better it was for their business.

The whole advertising industry is also based on this simple concept. Help the client promote their products, they pay you for your service. So in short, this concept is about "if you give people a rice bowl, they will share their harvest with you" - a philosophical saying I just thought up...

Best Beef Noodles in Kuching

2009-03-04T17:01:00.010+08:00

There area few types of beef noodles around - Taiwanese Beef Noodles, Chinese Style Beef Noodles, and Malay Style Beef Noodles. The one I found the most tasty is the Malay Style Beef Noodles, also known as Mee Sapi, at Kafe Selera Nusantara. The name of the cafe is a bit confusing because the signboard has a comic with the words "Jom Berambih Makan" which means "let's eat together", so it can be mistaken for the name of the cafe (or maybe it is).

The noodles are sprinkled with spring onions and fragrant fried onion flakes. There's also a bowl of stewed beef soup with marinated beef and bean sprouts. The reason that this is the best beef noodles in my opinion is because both the noodles and soup are very tasty and full of flavour. I usually don't bother finishing the soup that comes with most beef noodles because it is clear and light in taste, but it's not the case with this one here. Marinated pieces of beef taste good, but can be tough to chew at times. Th noodles used to be black in colour, but the chef has changed the recipe to make it colourless. The new recipe still tastes the same, but I request for the old recipe when I order because I think the black noodles has more character (see picture below).

The cafe has a B rating (out of A, B and C) for cleanliness. Other things on the menu include roti canai, fried noodles, toasted sandwich and satay. Drinks are good too, as with most Malay eateries, they do not skimp on sugar and taste. So good, in fact, that traffic police officers are frequently seen to have their daily dose of "Kopi-O" here (pun intended). 5 points if you can spot the 2 officers who should be out and about issuing traffic summonses in the picture below.

Kafe Nusantara a.k.a. Jom Berambih Makan is located here

How to Live Happily Part 2

2009-03-03T17:03:00.006+08:00

"Having Lots of Money" was not mentioned in the earlier post on how to live happily. So here's financial advice brilliantly written from the greatest wealth creator of our time, Warren Buffet. (Copied off a forwarded email too - thanks to Mike Ho):

We begin this New Year with dampened enthusiasm and dented optimism. Our happiness is diluted and our peace is threatened by the financial illness that has infected our families, organizations and nations. Everyone is desperate to find a remedy that will cure their financial illness and help them recover their financial health. They expect the financial experts to provide them with remedies, forgetting the fact that it is these experts who created this financial mess.

Every new year, I adopt a couple of old maxims as my beacons to guide my future. This self-prescribed therapy has ensured that with each passing year, I grow wiser and not older. This year, I invite you to tap into the financial wisdom of our elders along with me, and become financially wiser.

Hard work:

All hard work bring a profit, but mere talk leads only to poverty.

Laziness:

A sleeping lobster is carried away by the water current.

Earnings:

Never depend on a single source of income. (At least make your Investments get you second earning)

Spending:

If you buy things you don't need, you'll soon sell things you need.

Savings:

Don't save what is left after spending; Spend what is left after

saving.

Borrowings:

The borrower becomes the lender's slave.

Accounting:

It's no use carrying an umbrella, if your shoes are leaking.

Auditing:

Beware of little expenses; A small leak can sink a large ship.

Risk-taking:

Never test the depth of the river with both feet. (Have an alternate plan ready)

Investment:

Don't put all your eggs in one basket.

I'm certain that those who have already been practicing these principles remain financially healthy. I'm equally confident that those who resolve to start practicing these principles will quickly regain their financial health. Let us become wiser and lead a happy, healthy, prosperous and peaceful life.

How to Live Happily

2009-03-02T18:52:00.003+08:00

Something copied off a forwarded email:

Ten Keys to Happiness

What makes people truly happy? There are probably many answers, but here are some common themes. If you use these keys, you can let happiness fill your life!

1) Take Responsibility
Take full ownership of your actions, moods and feelings. If you can take responsibility for your life, you can change it. Blaming others for your circumstances only keeps you stuck.

2) Feel Your Feelings
Don't stuff your feelings until they become toxic or leak out. There are no wrong feelings. Acknowledge them, let yourself fully feel them when you are in private, and then you will be able to move on.

3) Practice Gratitude
Make a daily practice of asking yourself, "What am I grateful for?" Keep a gratitude journal and write down 10 things that are good in your life. Do this at bedtime and you will enjoy better sleep. Being grateful for what you have creates space for new energy to come into your life.

4) Live in the Now
Don't drag your past into your present. Don't try to live in the future. Be here now, this moment. When you fully engage in the present, there is no room for baggage from the past or fear of the future.

5) Control Your Gremlins
Gremlins are those nasty voices in your head that tear you down. You know, the ones that say, "You're not good enough" or "You'll never amount to anything". You wouldn't even say those things to your best friend. So find those gremlins and zap them. How? Ask yourself if you really want them to control you, and then change them into positive affirmations instead.

6) Practice Forgiveness
Forgive everyone even if it's just as a mental exercise. Otherwise those people and situations gain power over you and live in your head, rent free. And, of course, forgive yourself - you did the best you knew how at the time. Today is a new day. Letting go of anger and resentment will set you free.

7) Connect with Others
Let the negative, whining people in your life find someone else to complain with. You don't have time for it. Surround yourself with supportive and positive people. Don't know any people like that? Put a smile on your face and go find them!

8) Manage Your Energy
Learn to say no to tasks and people who drain your energy. Learning to say no can be difficult, but once you do it, you will experience a new level of personal power and well-being. Say yes to activities that give you energy. Make a list of these activities and plan to do a few of them daily.

9) Give Back
Feel good by volunteering to help, mentor or spend time with others who don't enjoy your level of abundance. Give out positive energy and it will come back to you many times.

10) Change!
Change is good. Be flexible. Life is always throwing new stuff at you. Go with the flow and shape your life the way you want it to be. Keep learning, adapting and embracing the new and wonderful things that will show up in your life!

By Gretchen Sunderland

Business Concept 2: The Mindset

2009-03-01T16:23:00.005+08:00

One of the most interesting concepts I've read from Anthony Robin's book is this little idea:

Beliefs > Decisions > Actions > Results

Your beliefs influence the decisions you make, which in turn, influences the actions you take, producing the results of your actions.

Simple idea, almost common sense, but what implications does it have? Before dissing this concept as useless, ask yourself, are you satisfied in a situation where you are NOW?

Most people in this world are not. They complain that life isn't as good as it should be and do nothing about it. Rather than complaining about the government, your family background, economy, etc, have a moment and reflect on yourself...

Where you are today is the result of your actions, decisions and beliefs made in the past. For example, if you're not happy with your job at the moment, it's because you acted and applied for it in the first place. What made you make that decision to commit to that job is influenced by your own beliefs. Maybe at that point in time, you thought you were not good enough to apply for that dream job of yours or there are no jobs that suit you?

It all starts from your beliefs. If you're not where you want to be now, maybe it's time to change your beliefs because doing the same thing and expecting a different result is called insanity. The reason I can still remember this concept by heart from Robin's book is because I think it is such a simple, yet powerful tool to better your own life. If doesn't cover just your financial goals, but your health, social and general aspects of your life.

For example, if you're not at the health level you want to be at, reflect on yourself why is that so? Maybe you're not healthy because you have not exercised (action), because you have a nap as soon as you go home (decision), and there is no time to exercise (belief). To change the situation you are now, you have to start by changing you belief that "there is no time to exercise".

Same goes if you're not happy in life, or if business is not doing well...

Favourite Dim Sum - Har Gau

2009-03-01T10:22:00.013+08:00

Dim Sum is a type of Chinese cuisine associated with a variety of steamed dumplings in bamboo baskets, fried dumplings and baked pastries. A proper Dim Sum restaurant can have up to 80+ mind boggling varieties to choose from. Dim Sum is often referred to as Yum Cha, which means drink tea, because it is a breakfast meal usually accompanied by Chinese tea.

This post is called favourite Dim Sum in a singular sense because I only order 1 out of the very limited choices of around 5. It's not the best dim restaurant, but my favourite nonetheless because proper Dim Sum cafes / restaurants are few and hard to come by in Kuching. So the one thing I eat at this coffee shop is the prawn dumpling - Har Gau

The interesting thing about people in my hometown is that they like to modify centuries-old tried-and-tested recipes and suit it to local tastes. The har gau here tastes nothing like the ones you get in major cities or the home of Dim Tum, Hong Kong. Even the sweet brown sauce that they serve tastes different. I've had Dim Sum from Sydney, Auckland, Kuala Lumpur, Singapore and Hong Kong. They all seem to stick to their standard original recipe, which is already good, so my favourite one here must be a different breed or a distant cousin in the har gau family. This is how the standard har gau should look like:

Here is a comparison of the standard har gau (top) and the distant cousin (bottom)

You can actually see the pinkish prawn meat in top picture, but the one on the bottom is more like a pork dumpling with a hint of prawn. Being different is what makes it special and my favourite prawn dumpling :) The rest of the offerings in the Dim Sum cafe is nothing to shout about...

The Har Gau sells out fast, so it's best to be there before 9.30am. My favourite Har Gau is located at the long-established Fock Hai Tim Sam Cafe:

Here's where you meet the real Fockers: (location map)

Business Concept 1: Competitive Advantage

2009-02-27T22:30:00.008+08:00

For any business to survive in the long term, it must have a competitive advantage, or edge. To keep customers coming back to that business, it must have an edge over its competitors. Put simply, a competitive advantage is where you are able to provide goods or services which are:

better
faster
cheaper

than your competitors'.

You don't have to have all 3 of the above to have an edge over the competition. Just 1 or 2. If you can have all 3, that business will be a monopoly player in the industry.

If you're in business or starting out a business, as youself, what is it about my product or service that is better, faster or cheaper than my competitors? If you can't answer this question, you might have huge challenges facing current and upcoming compeitors.

Who is a good competitor to go up against? Government Linked Companies (GLCs)! Why? Because government agencies are mostly inefficient in terms of operations and cost. Nobody looks after quality, they are slow, and nobody cares about the bottom line. Just look at the opportunities they create:

Astro Satellite TV: We have such bad quality programmes shown on national TV, the public is "forced" to subscribe to satellite tv to get better content for their entertainment. National TV is free to air, but people are willing to pay for a better service.

(Example of doing things better)

Toll Infrastructure Projects: Rather than waiting for government approval of funds, getting the work organised, etc, private companies can get the whole process carried out faster. They fund and build the highway themselves, stick a toll booth there, and the public pays for a service that would require the government another lifetime to have completed because of lack of funds, beauracracy, etc...

(Example of doing things faster)

Air Asia Airline: The national carrier, being the monopoly player in the field, never put operational and cost efficiency as priorities. Now this budget airlines are taching them a lesson or two in operational and cost efficiencies. For customers who percieve air travel as only getting from point A to point B, the full service carriers lose the edge of having a better service to the budget airline's edge of being cheaper.

(Example of doing things cheaper)

The above are some examples of how inefficiencies create business opportunities. When you get an edge over the competition, don't forget to keep looking back as competitors do not just sit on their hands doing nothing. Keep sharpening your edge and don't lose it.

"If you want to be successful, be a professional (referring to a specialist in a field), because amateurs get killed"

- Quote from a self-made managing director whose company has a turnover of Sg$ 15 Million a year. Also echoed by a businessman who became one of the first few to own the latest Mercedes S-Class when it was available in my hometown.

Things That Make Me Go Mmm...

2009-02-23T00:30:00.003+08:00

I'm a simple guy and one sure-fire way to cheer me up anytime is this combo set from KFC. 2 pieces of original recipe chicken, with cheezy wedges as a side order. I had this combo on Happy Tuesday, where they had 25% off for the chicken order (RM 5.62), and special savings for the cheezy wedges and drinks set. (RM 3.80). Total came to RM 9.90 after tax. Damn good value and a very satisfying dinner...

The story of Colonel Sanders is often used to illustrate persistence, the ability to overcome rejections, and the fact that age is no barrier to success. Colonel Sanders started off in a kitchen selling fried chicken, but was forced out of business when the government built a highway to bypass his restaurant and was broke by the age of 65. He understood the difference between being self-employed and a business owner, which is why rather than opening up and running another restaurant, he decided to drive throughout the country, persuading restaurant owners to use his secret recipe, and paying him a royalty in return.

It took over 2 years and 1,008 rejections before he got his first "yes"

(I wonder who actually counted the number of rejections he had...)

Imagine your own grandfather who is past retirement age, driving around the country for 2 years and getting nowhere with his "fantastic business idea". How many people would have stopped this grandpa? How many people would have said this old man is crazy and insane? How many people would have told this old man to face the facts and that there is no way his business idea is going to be accepted?

Colonel Sanders managed to become a millionaire in 8 years, starting off at the age of 65. He wouldn't have been able to achieve this as a self-employed restaurant chef because time would be a limitation to his cashflow. This is an extraordinary success story because extraordinary results come from extraordinary men. I am sincerely grateful to this once "insane, thick-faced, desperate and broke" old man for allowing me the dining bliss I am able to experience now.

Jack - Straight From the Gut by Jack Welch

2009-02-22T02:38:00.001+08:00

A great read from the rise of Jack Welch, CEO of GE, to his retirement of one of America’s most admired companies of all time. There are more management principles in this book than you can shake an MBA stick at. Warren Buffet called this guy “the Tiger Woods of management”. I got this book to learn about his management ideas, so the best parts of this book for me were Sections II and IV. The rest of sections are an autobiography of his rise and endeavours as CEO.

Chapter 8: The Vision Thing

Good businesses needed to be separated from the bad, so there was the No.1 and No.2 concept – only businesses that were in market leaders (or No.2) were to be concentrated on, whereas the rest were to be fixed, closed or sold. The rationale behind this is if a business doesn’t have a long-range competitive solution, it’s just a matter of time before it’s over.

Chapter 11: The People Factory

Passion in an organisation is characterised by the 4 E’s:

high Energy levels
ability to Energise others
having the Edge to make decisions
ability to Execute promises

Employee passion is the graded on a scale of A, B and C

A’s should get increments 2 to 3 times more than B’s. B’s would get standard increments. C’s get nothing. Losing an A is a sin.

Bottom 10% elimination – 10% of the bottom performers have to go, no matter how highly they are regarded.

Chapter 13: Boundaryless: Taking Ideas to the Bottom Line

GE linked their lighting business with Wal Mart’s cash register system so that they know when they are selling out and prepare their orders before it sells out. Jack also learnt from Wal Mart that regional managers would fly in to visit the stores under them on Mondays and spend the next 4 days going through the inventory as well as visiting the competitor’s stores. They would fly back on Thursday nights and deliver their field reports on Fridays. Problems such as shortage in inventory can be sorted out on the spot.

Redefining markets so that you represent less than 10% of the total market share is a way to expand your mind on your room for growth. Take for example the 63% GE Power systems had on servicing GE products. If you broadened the market to include fuel, power, inventory, asset management, and financial services, that now shrinks into less than 1% but you now view a bigger potential for creating opportunities. It’s all in the mindset whether you perceive your market as saturated, thus do nothing about it; or a huge untapped market with vast opportunities.

Chapter 20: Growing Services

After sales service i.e. the supply of spare parts, servicing and repairing was overlooked in the high tech big equipment business. Putting emphasis in services meant that customers can justify their investment on a longer lifespan, while creating a steady income stream from the existing customer base. Today GE is spending as much time ensuring their installed “sockets” are increasingly productive, as they are on finding new “sockets”,

Chapter 21: Six Sigma and Beyond

Good example to illustrate Variation – the main concept of Six Sigma, is shown in this chapter. You can have a 50% reduction in AVERAGE delivery times and management would think you have done a fantastic job, but if the variation for this data is spread out widely, the customer does not take note of your “fantastic” improvement. The thing the customer notices is whether or not you deliver on the date you promised. Six Sigma is about consistency – delivering on your promises.

Differentiation

Jack discussed differentiation in various parts of the book, starting with Chapter 2, “Getting out of the Pile”. Everyone and everything has to have their point of differentiation or edge to stand out in life. In Chapter 2, Jack showed that even as a technician, he went the extra mile into making comparisons with other products even when not asked to do so. This is how he stood out from the rest and “got out of the pile.” The Six Sigma qualification is another way to stand out from the crowd.

Differentiation as a company was illustrated in Chapter 14, “Deep Dives” when GE wanted to break into the Japanese market. The point of differentiation he used was positioning the company to the “employer of choice for women” in an environment where women were not the preferred hires.

Chapter 24: What this CEO Thing is About

Some points of interest Jack wanted to talk about:

Integrity – establish it and never waver from it
The Corporation and the Community – CEO’s role is to assure the financial success of the company. Only a healthy, winning company has the resources and capability to do the right thing
Setting a Tone – the personal intensity of business leaders determines the organisation’s intensity
Maximising on Organisation’s Intellect – Take the best ideas and transfer them to others
People First, Strategy, Second – Getting he right people in the right jobs is a lot more important than developing a strategy
Informality – Creating an informal atmosphere is a competitive advantage. Passion, chemistry and idea flow from any level at any place are what matters. Everybody’s welcome and expected to go at it
Self Confidence – courage to be open, welcome change and new ideas regardless of their source
Passion – intensity covers a lot of sins. If there’s one characteristic all winners share, it’s that they care more than anyone else
Stretch Targets – rather than get people responsible to deliver the numbers to provide a target (realistic or not), have the team come in with operational plans and discuss what tools they require to improve their performance and how far they can go with these new tools. This will stimulate discussion around new directions and growth.
Celebrations – make the job fun
Aligning Rewards with Measurements – make sure what you reward based on correct / proper KPIs.
Differentiation Develops Great Organisations – chop off the bottom 10% performers on a regular basis
Owning the People – Give the people their best opportunities to grow within the organisation
Appraisals All the Time – give it
Culture Counts – set it from day 1 and resisters have to go
Strategy – Ask yourself the following:

What is the detailed global position of your business and that of your competitor: market shares, strengths by product line and by region today?
What actions have your competitors taken in the past 2 years that have changed the competitive landscape?
What have you done in the last 2 years to alter that landscape?
What are you most afraid your competitors might do in the next 2 years to change that landscape?
What are you going to do in the next 2 years to leapfrog and of their moves?

Competitors – 2 things to keep in mind:

If the competitors are seem crazy and are practically giving their product away, it just means they have a better cost position or a strategic rationale for what it did – look into yourself and ask yourself what is wrong with you, not them.
When you come up with an idea to blow the competition away, don’t assume they will be sitting on their hands doing nothing. They will strike back and maybe harder than you think.

The Field – Headquarters doesn’t make anything or sell anything. Banging around the field is the best shot at getting some ideas about what was really going on.
Markets vs. Mind-sets – Change your perspective on market share and you will open your minds to growth opportunities. (Example in Chapter 13)
Initiatives vs. Tactics – Keep in mind your initiatives (i.e. company strategy), but keep coming up with fresh short term tactics
The Communicator – There can never be too much repetition over important ideas you want to get through the company
Employee Surveys – Make it meaningful. The one that GE found a breakthrough were fundamental issues around the theme: “Is the company you read about in the annual report, the company you work for?”
Upgrading a Function – Whenever a department is not performing up to par, get all the best minds into energizing it.
The Advertising Manager – Image matters
Managing Loose, Managing Tight – Know when to meddle, when to let loose. There’s no form of measurement, just gut feeling and instinct.
Chart Maker – Charts clarify thinking
Investor Relations – Marketing people sold better stories of GE
Wallowing – A discussion of people involved in the job regardless of job titles. Focus is on getting the job done better and diving into deeper issues
Your Back Room is Somebody Else’s Front Room – If one department is not achieving its full potential, consider having it outsourced. The outsourcing company might do a better job and give its best
Speed – Swift and quick decisions often prevail over regrets over delaying a decision
Forget the Zeros – Breaking projects into smaller pieces can get greater focus and the entrepreneurial benefits of being small i.e. – agility, speed, and ease of communication

Business Review 1: Chicken Buffet Restaurant

2009-02-20T22:35:00.003+08:00

I just came back from stuffing myself at a chicken buffet. Noticed some interesting business aspects of the restaurant, so feel compelled to jot them down. By the way, this post is dedicated to my first encouraging comment left on my blog by P J Stuart, Thanks :)

As I sat there and observed the business operations, I thought that it's quite a good concept. But before we go through the strengths of that particular business, let's discuss what makes a BAD restaurant:

Bad food or inconsistent quality
Bad service from that bitchy waitress
Food takes too long to be served
Unhygienic place
Overpriced

Let's run the above through with the buffet restaurant I just went to:

When the main course is fried chicken, it is usually hard to go wrong because to me, the hardest thing to cook wrong in this world is fried chicken. Even if the other dishes have been cooked bad, you don't usually complain because there's others to choose from.
The only interaction I had with the service staff is at the entrance where I paid my dining fee, then accompanied to my table. The rest was self service at the buffet bar, so very little interaction with the service staff, less chance of being poorly served
The buffet bar is ready when you are so no waiting time, unless there's a queue...
It was neat and tidy. The staff attentive because their only job was to clear the tables. They were focused on the job because they do not need to carry out the typical restaurant tasks like taking orders, sending out food to the right table, making recommendations, distributing and retrieving menus, etc...
All customers are aware of the price before dining, so there can't be surprise because you pay first.

Other than point number 4, which is unavoidable in any premise, the buffet restaurant doesn't seem to be susceptible to the usual restaurant complaints... Now lets talk about the strengths, or advantages:

Ease of operations - the cashier can easily be the person who shows you to your table, and also help bring out the food from the kitchen to the buffet bar. Low skill sets and able to carry out different tasks. Even the complexity of calculating the bill is almost non-existent because everyone pays the same amount.
Easy to track profit and loss - as the boss, you should have a rough estimate how many people need to walk into your restaurant for you to break-even. Imagine if you're overseas on holiday, all you need to do is to have your manager send you an SMS on how many people visited your restaurant that day and you'll know you've made money or not.
High revenue per table- buffets are usually social events so there's usually more than 2 people dining per table.

Seems like a good business to own... easy to operate, duplicate and monitor. But what do I know? I've never run a restaurant in my life. Just sharing my thoughts. And even if this is not a good business idea, the morale of the story is, whenever you are at a business establishment, ask yourself questions like:

is this a good business model?
how do they make money?
what are the potential weaknesses and threats?
what else can they do to make more money?
how do they keep the business running smoothly?
what can i do better if i were the boss?

Ask more, learn more, grow more...

Best Roti Canai in Kuching

2009-02-18T23:44:00.002+08:00

I've worked in KL for over a year, trying out different types of roti canai from their millions of "mamak" eateries and none even came close to what I can find back in my hometown...

They put so much butter in the roti, pan fry it to perfection, and give it a big crush inwards before serving it. It is so crispy that it tastes more like the top bit of pastry from a baked pie than the regular indian staple food. Tastes so good, I don't even take it with the accompanying curry...

Here's where to find it: (location map)

D and D Foot Reflexology

2009-02-18T18:09:00.002+08:00

Located at Batu Kawah, D and D Reflexology features masseuses from the Philippines and China. It opens from 11am to 11pm. For more information contact 016 8009977

Address: AE 204, Batu Kawah New Township, Jalan Batu Kawa, 93250 Kuching, Sarawak

How to Make Money

2009-02-16T21:48:00.000+08:00

The following is my interpretation from the works of Robert Kiyosaki from the book Cashflow Quadrant

Kiyosaki sums up the 4 ways of earning money is by being a/an

Employee
Self employed
Business owner
Investor

Hence, the E-S-B-I Quadrant. I'm planing to go into detail of each quadrant in my future posts. Here's just the run through...

Being an Employee

Everyone knows this as this is the formula for steady income. We study hard to get our degrees, so we can work in a big and well known company with a respectable salary. You basically sign a contract (employment letter) to determine what you are worth on an hourly rate for your services to your employer.

The maximum income potential is: (your hourly rate) x (hours company is willing to pay you)

Your hourly rate is a fixed and the only way to increase the amount of income you have is to work more hours, but of course, there is a limit to how much you can work or how much extra time your company is willing to recognise

Being Self Employed

Being self employed is being personally involved in selling a product or a service, or simply put, being your own boss. Might sound like the best way to go, but unlike being the employee, there usually is no fixed working hours or holidays for the self employed because each blood, sweat and tear directly affect his income. the self employed person is central to the operations meaning that if he is not at work, the business would not run.

The maximum income potential is (profit margin per hour) x (hours worked)

Here, like the employee, your hours worked is limited by your own input, but of course, the limit to any human being is 24 hours a day. The only variable you can change is the profit margin per hour, so your focus is to increase it to the highest you can. Below are some examples of different self employed careers:

Doctors - High profit margin per hour compared to most service based industries. On top of that, the doctors in Malaysia sell medicine too. (In western countries, the doctors can only charge a consultant fee and the patient has to buy the medicine at a pharmacy). So selling medicine is a method that doctors use to increase the profit margin per hour.

Shop Keeper - Medium profit margin per hour. To increase the amount of sales per hour, they can source for higher margin products or find more customers

Small-time Food Seller - Low profit margin per hour. Like the above, they can increase the amount of sales per hour by improving their product mix or increasing their customer base.

Being a Business Owner

This is where things get interesting... The difference between a self employed and a business owner is that the business owner is not directly involved in the day to day operations of the business. The business owner has a self running business run by employees. His objective is to set up a business and getting the right people to run it, so his focus is to set up an effective system, or easier still, employ someone to set it up. The best way to determine if someone is a business owner or not is to ask him if he were to go on a 6 month holiday, would his business still be running by the time he gets back? If the answer is yes, then he is a business owner. If not, he is self employed. This question also shows that a business owner is not limited by time as his income is not directly affected by the amount of time worked. This is the biggest difference, and advantage, the business owner has above the self employed and employee.

His maximum income potential is: (profit margin per hour) x (business hours)

Because his income is not limited by time, he can use his time to set up more self running businesses, which in turn increases the amount of income earned per hour and number of business hours. For example:

Franchise / store branch owners - If the business has a fixed recipe or operation manual, etc, the franchise / branch can be duplicated. A 2nd store opening will double BOTH the profit margin per hour AND Business hours. Both variables in the equation above can be increased - unlike the employee or self employed where time is a limitation

Multi Level Marketing (MLM) - MLMs can actually make you into a business owner. After setting up an effective sales downline, you will notice that for every successful downline, you've just increased your profit margin per hour and business hours because your downline is using their time and effort to make you more money. Once again, no limit to profit margin per hour and hours worked.

The most important concept in this type of segment is that time is no longer a limitation of your income. The business owners build up cash cranking machines, which are the self running businesses, then continue to build more. This is where the good life is.

Being an Investor

An investor is a person who buys an entity and rents it out, and over time, the entity should increase in value from the time it was first bought to make it a positive investment. A person who buys shares from the stock market and sells it for a profit is NOT an investor. This is a common misconception that any person who makes money buying and selling shares to make a living is a "good investor". He is merely a trader making a profitable transaction. I'm planning to write an article on the difference between a trader and an investor. So from the definition above, here are some examples of investors:

Property Rental - The owner buys the property for an amount of money. Usually rents it out at the amount slightly higher than the monthly installment, and over time, the property increases in value. Because the rent covers the monthly installment, this means that the renters are actually helping the property owner pay off the mortgage. And when the mortgage is fully paid, the investor has just acquired a property of full value by paying just the down payment. If he put down $20k for a $100k property,

his return on investment is (100k - 20k) / 20k * 100% = 400% at the end of the loan period

but if over the time the rent is paid, the property value increases to say, 120k,

his return on investment is (120k - 20k) / 20k * 100% = 500%

Running a Foodcourt - Similar to property purchase, you only need a downpayment, not the full amount if you can plan that the rent you are charging and monthly sales profit covers the bank loan. Over time, you are using just your downpayment amount to aquire a property in full value.

The concept of investing is not about creating massive amounts of cashflow, rather, using the smallest amount of money to acquire an asset at full value. Many people do not think of it this way. This concept of leveraging money is covered in more detail in Kiyosaki's book, OPM.

Dividends on Stock - The investor buys shares in a company that he believes will continue making money in the future, therefore profitable and pays out a dividend annually. He reinvests the dividends into buying more shares of the same or another company, and year after year, accumulates more dividend-paying shares. These dividends should give a better rate than the fixed deposit (FD) rates from the bank and on top of that (as a bonus), increase the value of the underlying share. Because selling the share for a profit is not the focus of the investor, the daily fluctuations of market price do not make him nervous. His focus is to acquire more profitable company shares that pay a dividend to increase the number of income producing assets. So another way to look at this is that an investor buys the company shares, rents it out to the company, receives rent in the form of dividends, and if he has done his homework right, bought the shares at below its market value, and the share price increases over time. When's a good time to buy shares at below its market value? During a stock market dip / crash / correction, when everyone's selling shares...

How to Win Friends & Influence People by Dale Carnegie

2009-02-15T22:08:00.000+08:00

I read this classic book 2 years ago, so I'm making a summary so I don't forget. The title is self explanatory and it deals with a broad spectrum from social to business etiquette.

Part 1: Fundamental Techniques in Handling People

Don't critisize, condemn or complain
Give honest and sincere appreciation
Arouse in the other person an eager want

Part 2: Six Ways to Make People Like You

Become genuinely interested in the other people
Smile
Remember peoples' names
Be a good listener. Encourage others to talk about themselves
Talk in terms of the other person's interests
Make the other person feel important - and do it sincerely

Part 3: How to Win People to Your Way of Thinking

The only way to get tge best if an argument is to avoid it
Show respect for te other person's opinions. Never Say "You're wrong"
If you're wrong, admit it quickly and emphatically
Begin in a friendly way
Get the other person saying "yes, yes" immediately
Let the other person do a great deal of the talking
Let the other person feel that the idea is his/hers
Try honestly to see things from the other person's point of view
Be sympathetic with the other person's ideas and desires
Appeal to the nobler motives
Dramatize your ideas
Throw down a challenge

Part 4: How to Change People Without Giving Offence or Arousing Resentment

Begin with raise and honest appreciation
Call attention to people's mistakes indirectly
Talk about your own mistakes before critisizing the other person
Ask questions instead of giving direct orders
Let the other person save face
Praise the slightest improvement and praise every improvement. Be "hearty in your approbation and lavish in your praise"
Give the other person a fine reputation to live up to
Use encouragement. Make the fault seem easy to correct
Make the other person happy about doing the thing you suggest