Welcoming 2011: Almost 2 Years & Going On Strong...

The start of a new year is usually a time for goals setting and also a time for reflection. And it's been almost 2 years since I started being my own boss. 

I remember many dissuading me when I wanted to venture out and many being skeptical that I'll be doing this for long. And I'm glad I'm one of those who'll not listen to others.

Happy New Year!! May 2011 be the year that bring you much closer to your dreams!! C=

Migration

I am migrating to  free blog that allows advertisement. Yes, you've guessed it, I am moving to blogger.

Unless you guys have a better suggestion.

So far, I'm impressed by Wordpress.org, but it's more than I need and I don't want to pay for a domain anymore.

I have been using blogger for my other blogs and it serves me needs well enough. Which is basically:

-user-friendly

-SEO friendly

-free ( I know wordpress is free but I need to pay for a domain address)

-allows ads

So, do feel free to share your thoughts and suggestions.

I'll soon need to crack my brain to migrate the contents. With the more user friendly layout, I think I may just post more frequently from 2011 onwards.

Stay tuned for my new website! =)

Working from Home, I Like.

I read this post by a fellow Singaporean entrepreneur and was inspired to write.

Pic taken from here.

Like him, I too work from home. Unlike him, I have a separate phone line from the rest of my family. Not because of my work, but because it has been a habit of mine to have a private phone line for my own personal calls. Except that these days, it serves my fax machine line too.

Of late, I am really thankful that I work from home and that my working hours are flexible and mine to plan. The MRT trains in Singapore are getting really crowded. It frustrate me sometimes when I have to take the train even around 4pm. And I can imagine the how torturous it can be to squeeze your way home after work.

For now, making and taking phone calls on my mobile will suffice. Avoiding the dreadful traffic is one huge plus point for working from home. And I'm thankful I can choose to travel during the off peak hours and stay away during the peak.

To Partner Or Not?

My business is a partnership and I'm happy that it is. I know many people prefer having a business partner thinking it's better to have someone to work alongside in a new start up. It also ensures company and provides affirmation when making difficult decisions.

But is a business partnership meant for anyone? I don't think so.

True, the entrepreneurial path less taken will be less lonely with a business partner.

But do consider these factors before entering a partnership:

1. Both partners' personality
2. Both partner's working style
3. Both partner's value
4. Integrity

A friend may not necessarily make a good business partner. Do realise that work ethics of really good friends may differ greatly. Just because you're comfortable with someone in a social setting doesn't mean you will work well together. Don't jump into the partnership because of convenience (your friend etc.). Try doing a small project  or organise an event together to gauge the dynamics of your working relationship.

And of course, sharing similar values mean that both parties will move in the same direction. In times of difficulties, it'll be more manageable to come to an agreement and move the business in a certain direction.

Integrity is the most important factor in my opinion. You got to trust your business partner and know that he/she will always make decisions in the best interest of the business.

So far, I have been talking about partners in terms of 2 people. If your partnership is one that consists more than 2 people, it just mean that you have to think through the above several times over. ;)

When You Get Comfortable, It's Time To Stretch & Grow Again

Have you ever experience times when everything seems overwhelming and then, it just seem to settle comfortably because you've gotten use to the routine and the learning curve has reached a plateau?

Whenever I feel this way, I take it as an indication that it is time to push myself out of my comfort zone.

It doesn't have to be big major changes. It can be as simple as finding a new way to organize my time and work more effectively so that I can achieve more. And it can even be a small thing like controlling my "evil and toxic" thoughts so as to train my mind to think positively and have more faith in strangers.

I believe that it'll all add up if we challenge ourselves everyday. Step by step, inch by inch, one day, I'll be in a new and bigger pond even before I know it.

The challenge is to challenge myself daily.  Be it emotionally, mentally or physically, I want to grow each day and be my best!

Is Your Business Radar Switched On?

As an entrepreneur, do you feel like there are days whereby your business is growing too slowly for your liking?

I like to remind myself that I am doing the groundwork now, building my base for something that will grow bigger.

If I don't do, my business radar will not be switched on and I won't be able to locate opportunities and vice versa.

The more I do, the more groundwork I am setting for opportunities to arrive and I hope it'll be explosive when it does!

More Company Debts

Company debts are a norm in businesses and as small business owners, we all know a healthy cash flow is vital to a business.

Although the stressful period of retrieving my bad debt is over, I still have many customers that cannot pay up in full or delay the payment by 1 month or so.

One in particular was unable to pay us the large amount that accumulated over 2009 Christmas sales.

After understanding their situation and the business owner's sincerity, we worked out a payment deal in which we would collect a fixed amount of money weekly so that our cash flow can improve and it will not be so taxing for our customers to pay us a one big lump sum of money.

5 months have since gone by and I'm happy to say that 70% of the debt is cleared.

We have been supplying goods to this customer the whole time throughout and they try their best to pay us, albeit having 1 or 2 weeks delay sometimes.

This arrangement has helped both of us to continue working together without much unpleasantness and more importantly, to serve our customers and grow together.

I guess different situations call for different debt collecting tactics. ;)