Wednesday, August 26, 2009
Best Kueh Chap in Kuching
Sunday, August 23, 2009
Think and Grow Rich by Napoleon Hill (Part 1)
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 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
Sunday, August 16, 2009
What I Learnt from a Self-Made Multi-Millionaire
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.
Monday, August 3, 2009
Best Tomato Mee in Kuching
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.
Thursday, July 16, 2009
Sunflower Foot Reflexology
The 4 Levels of Wealth
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
Friday, July 3, 2009
Famous Kuching Sio Bee
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)