starting your own business

[daBoss]

i guess most of us are a stage of our lives that prompts us to consider whether we want or can continue to makan gaji - i.e. work for others.

when you hear of success stories, you feel like - i can actually do that too. heck i just found out (not confirmed) that a mamak chain may be listing in our bursa malaysia (klse).

for me, i'm comfortable with my job and have too many commitments - but i've been considering... maybe one day i might just gather enuf courage to go on my own...

kudos to people like alka who are now their own bosses...

[Alkapocino]

Since my name was brought up by daboss, I believe I should post something.

It's never an easy decision to make in coming out own your own especially when you are actually enjoying being paid (working for others). But I have to say this, start thinking right now and it's never too young to think of it. You really don't have to wait till the day you reached the crossroad.

Well, we have heard the saying that goes like this: "Nothing Ventured Nothing Gain" and it has become one of my inspiration line till now.

All the best and start harboring your thoughts NOW!

[KoChun]

for me, i'm comfortable with my job and have too many commitments - but i've been considering... maybe one day i might just gather enuf courage to go on my own...

I think not only you, daBoss. There are many out there in the same situation with the same thoughts (probably same fear). Questions like 'why risk?' will always arise whenever we think of making that big decision.

As for me, definitely have not gather enough courage to go on my own.

[JC]

I guess the tough part is when you start thinking of all your commitments, family responsibilities, sacrifice your current job comfort, etc etc. In general, Chinese people have the urge to venture into their own business. Doing business is in our blood... Insofar, I have yet the courage to do so. The other snag is that I dun know what to do... I dun want to do what everyone outside there is doing... It must be a niche, something that not many people are doing, like selling milk in Mongolia....

[daBoss]

To add to my initial post...

My current bank savings won't even last me 3 months... so how to start? Shed off some of my current commitments? DaLady will whack me :)

[Dino]

Just curious, how much money does one actually need to start a business nowadays? 100k? 1mill?

[KoChun]

Just curious, how much money does one actually need to start a business nowadays? 100k? 1mill?

Dino, it depends on what type of business you intend to start. Let me give you some examples.

Illegal money lending (Ah Long) - minimum RM1mil and some gangsters
Illegal VCD business - maybe RM500??? Dyed hair a must!
Illegal football betting - depends on your scale, I guess at least RM1mil
Illegal immigrants - maybe RM200K
Illegal...

Eh, how come all illegal one leh? Just joking nia :D

[TingMS]

Pengukur Jalan...

Modal : 1 pair of legs...

[siewjang]

We have a lor beng from year '92 too. RAY!!!! clap, clap, clap, clap, clap, clap. Hmm... think i have to start my won business too selling Tupperware. So must support hor. :D

[Dino]

Lets not sidetrack here. :)

[daBoss]

We have a lor beng from year '92 too. RAY!!!! clap, clap, clap, clap, clap, clap. Hmm... think i have to start my won business too selling Tupperware. So must support hor. :D
selling tupperware? well i guess it's a decent and honest business :)

what is ray doing by the way?

[Alkapocino]

Just curious, how much money does one actually need to start a business nowadays? 100k? 1mill?
For less than 10 buckaroos you can register a company. :D

[Linkinfark]

Other source of income can be in the form of part time multi level marketing.. which I'm doing. No capital investment required, just your time. Introduce a proven and effective health supplement to friends and relatives and help people improve their health at the same time your bank account.
Your office can be any mamak stall or cafe...
Interested to know more please PM me. :p

Sorry daboss for plugging my side business.. hee hee..

[Dino]

Other source of income can be in the form of part time multi level marketing.. which I'm doing. No capital investment required, just your time. Introduce a proven and effective health supplement to friends and relatives and help people improve their health at the same time your bank account.
Your office can be any mamak stall or cafe...
Interested to know more please PM me. :p

Sorry daboss for plugging my side business.. hee hee..

How much can you make from these in a month? Not other people but for yourself.

[Linkinfark]

How much can you make from these in a month? Not other people but for yourself.

In MLM business, everyone makes! ha ha.. So depending on yr networking and effort, it can vary from RMXX to RMXX,XXX
One thing good is it's a networking business, even sometimes if you're busy, your business will still be moving as your people will be working for you as well.. But you will have to spend some time to build up your network.

PM me for more info.

[suliet]

You guys should be thankful that you still have your jobs. I would say in this type of economy, building your own business is very, very tough. I am in the manufacturing and export industry and I can tell you guys it's like hell when you do not have orders. You will have competitors in the same trade who slashes price like nobody business (especially China), you'll have to face your suppliers because your credit term is due, your workers are there to take pay from you at the end of the month and your family needs your financial support.

I do understand there is also pressure working for people but at least your income is fixed and stable. I've also heard about stingy bosses but what to do just bear with it and life goes on. I always believe in this "Ask not what the company can do for you, ask what you can do for the company" and when the time comes, everything pays. Good luck guys.

[daLady]

Think when you first start off in MLM, you will need to put in a lot of effort. I won't say you don't need any capital though. Most of those that gives you a good income actually require you to spend a minimum amount - can be anything from 100-500 mothly (great way of maintaining consistent sales)- to maintain your membership. So if you are not making any sales in the beginning, it can get quite tough if you are earning cukup makan only.

I know a colleague who gets a consistent income of 2-3K monthly about 9 mths after she started. But she confided that she spends up to 1K monthly on the product for her own consumption initially coz she needs to convince potential customers that it works. The downside is that other colleagues dreads her approaching them. I went for one of their talks (absolutely motivational) and actually signed up but was too indisciplined to carry thru.

Oops! Better not remind boss about it or he'll kutuk me again :D . BTW, I have 4 other colleagues who has just resigned and they are going into MLM full-time.

[Rayhong]

no, i'm not selling tupperware :)

a bit of information on how i started out. as far as i can remember i have only been employed for about a year. the rest of the time i have always been freelancing. it also has to do with the nature of business i am in i guess. i am a computer programmer by education but that didn;t last (not my cup of milo). i furthered in graphic design and electronic media and that's what i have been doing for the past 10 years.

i only actively moved into an office premises earlier this year and we're running a small advertising firm - doing mostly below the line advertising and website development. prior to this i was based from my apartment.

starting a company indeed is easy. if you want to start trading company RM150 kautim everything. paperwork for trading company is less demanding for compared to a sdn bhd. my previous 2 companies were trading companies, and the only problem was a trading company lacks credibility. (especially when lobbying for multinational companies)

i started out my sole proprietorship this year but the accounts side banyak headache. operational cost is more. startup is about RM2k. but other than startup capitals etc., it boils down to making money la.

running your own show is indeed quite scary. before in the office we just make any calls we want, call in sick when we dun feel like working etc. but if it's your company every phone call and every second that ticks on the clock is overhead! :) a lot more responsibilities. but with this responsibility comes control and self satisfaction.

apart from courage to start out on your own, one has to have the wisdom as well. see what industry you are in, identify the potential target market and demographics, come up with a marketing niche or edge, marketing strategies, consider the economics of the industry etc. many things to consider but common business sense prevails. a ready market or clientelle would be a definate plus.

do a working paper and consider all these aspects. always inflate your expenses and project a conservative revenue. if it works on paper, you're one step closer.

i dun want to ramble on too much la. most of what i have said are quite common sense but i'll be glad to share my experiences over a glass of milo-o-ais kurang manis tarik kau kau!!

[suliet]

Think when you first start off in MLM, you will need to put in a lot of effort. I won't say you don't need any capital though. Most of those that gives you a good income actually require you to spend a minimum amount - can be anything from 100-500 mothly (great way of maintaining consistent sales)- to maintain your membership. So if you are not making any sales in the beginning, it can get quite tough if you are earning cukup makan only.

I know a colleague who gets a consistent income of 2-3K monthly about 9 mths after she started. But she confided that she spends up to 1K monthly on the product for her own consumption initially coz she needs to convince potential customers that it works. The downside is that other colleagues dreads her approaching them. I went for one of their talks (absolutely motivational) and actually signed up but was too indisciplined to carry thru.

Oops! Better not remind boss about it or he'll kutuk me again :D . BTW, I have 4 other colleagues who has just resigned and they are going into MLM full-time.
You are right. Some of them needs to maintain a certain amount of sales monthly just to be qualified for their bonus.

[daBoss]

ray, making enuf to offset what you can make with a full-time job? if so, then it's worth it - ah, the freedom of being your own boss.

your company has a website?