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Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
Are You Ready To Have Your Own Business V 1.0
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Are You Ready To Have Your Own Business V 1.0

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About business owners, their challenges, what is required for a successful business and why there is a need to bring the business to the next level

About business owners, their challenges, what is required for a successful business and why there is a need to bring the business to the next level

Published in: Economy & Finance, Business
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  • KEY AREAS TO BE COVEREDBusiness– who, what, when, where and how Money – Money in the business and money in your personal life Mental – attitude and character Emotions – how it affects youYou – your habit patterns
  • Identify the roles and responsibilities and pitch to the CEO/MD why you deserve an increment/bonus
  • EXAMPLE :SALES INFO – WHO, HOW MUCHDEBTORS INFO – WHO’S YOUR MAJOR CLIENTS, COLLECTION TREND – DETERMINING CREDIT TERMSCASH FLOW – COLLECTION, SUPPLIER PAYMENTUSE EXCEL/WORD/AUTOMATION/ ACCOUNTING SOFTWARE
  • EXAMPLE :SALES INFO – WHO, HOW MUCHDEBTORS INFO – WHO’S YOUR MAJOR CLIENTS, COLLECTION TREND – DETERMINING CREDIT TERMSjUSCASH FLOW – COLLECTION, SUPPLIER PAYMENTUSE EXCEL/WORD/AUTOMATION/ ACCOUNTING SOFTWARE
  • EXAMPLE :SALES INFO – WHO, HOW MUCHDEBTORS INFO – WHO’S YOUR MAJOR CLIENTS, COLLECTION TREND – DETERMINING CREDIT TERMSjUSCASH FLOW – COLLECTION, SUPPLIER PAYMENTUSE EXCEL/WORD/AUTOMATION/ ACCOUNTING SOFTWARE
  • ENTREPRENUER – PROFILE – MENTAL AND CHARACTER
  • Increase income – increase skills, knowledge and effortReduce debt - eliminate interest paymentWise spending – buy now, buy when new or during saleAll the above increase savings Next to invest – have a plan how, where, when and what to invest in
  • Increase income – increase skills, knowledge and effortReduce debt - eliminate interest paymentWise spending – buy now, buy when new or during saleAll the above increase savings Next to invest – have a plan how, where, when and what to invest in
  • Increase income – increase skills, knowledge and effortReduce debt - eliminate interest paymentWise spending – buy now, buy when new or during saleAll the above increase savings Next to invest – have a plan how, where, when and what to invest in
  • Increase income – increase skills, knowledge and effortReduce debt - eliminate interest paymentWise spending – buy now, buy when new or during saleAll the above increase savings Next to invest – have a plan how, where, when and what to invest in
  • Increase income – increase skills, knowledge and effortReduce debt - eliminate interest paymentWise spending – buy now, buy when new or during saleAll the above increase savings Next to invest – have a plan how, where, when and what to invest in
  • Transcript

    • 1. ARE YOU READYTO HAVE YOUR OWN BUSINESS<br />By : <br />Joyce Lim<br />Certified Financial Planner<br />www.joycelim.net<br />joycelim@joycelim.net<br />25 June 2011<br />Organized by Simply Empowering Enterprise<br />All Rights Reserved <br />
    • 2. THE BEGINNING<br />…off to a great start….<br />
    • 3. EVERYONE WAS GIVEN A CHANCE TO SHARE WHAT THEY DO<br />INTRODUCTION BY PARTICIPANTS<br />
    • 4. KEY AREAS COVERED<br />
    • 5. Briefly….<br />BUSINESS<br />Who, What, When &amp; How<br />$$ in business &amp; in personal life<br />$$$$$<br />
    • 6. EMOTION<br />Briefly….<br />MENTAL<br />Attitude &amp; Behavior<br />YOU<br />How it affects you<br />
    • 7. Briefly….<br />YOU<br />What role you play….<br />What are your habitual thoughts….<br />
    • 8. BUSINESS SET UP- ORGANIZATION CHART<br />Organization Chart - Do I need one?<br />Which ‘hat’ are you wearing ?<br />Yes !<br />Even if I’m the only one in business…<br />
    • 9. Organization Chart<br />Gives clarity to the roles each function plays in the success of the business…<br />If you did not achieve your target….<br />CHECK WHO HAS NOT PLAYED THEIR ROLE !<br />
    • 10. FUN TIME !<br />PRACTICAL SESSION<br />..…time for some fun….<br />
    • 11. ..group discussion time….<br />
    • 12. ROLES &amp; RESPONSIBILITIES <br />Time TO <br />present<br />Each Dept/Function present : Why I deserve an Increment/Bonus<br />
    • 13. PRESENTATION BY PARTICIPANTS<br />The owners<br />The lovely CEO Representative<br />Where’s the finance dept? <br />2 because there’s disparity <br />The sales <br />team leader<br />The Admin &amp; Operation – the under-appreciated one ?<br />
    • 14. INFO &amp; INFORMATION SYSTEM<br />CREATE YOUR INFO SYSTEM<br />CYS, ROY, EUS ????<br />…Its actually(read downwards)…..<br />…create your own Info system…<br />…putting data in the order that makes sense…. <br />** Ratio analysis<br />
    • 15. INFO &amp; INFORMATION SYSTEM<br />CREATE YOUR INFO SYSTEM<br />** Ratio analysis<br />
    • 16. INFO &amp; INFORMATION SYSTEM<br />CREATE YOUR INFO SYSTEM<br />…just use simple worksheet <br />&amp; wordprocessor<br />to maintain records ….<br />** Ratio analysis<br />
    • 17. WHAT DO I WANT TO KNOW ?<br />…HOW TO…<br />
    • 18. WHAT ABOUT $$$$FLOW?? <br />? Why no money in bank account - where did the money go<br />? How to optimize cash usage<br />? What about personal wealth <br />TRACK CASH USAGE! <br />…pay yourself a salary…<br />
    • 19. ……HALF WAY THERE…..<br />….A FEW MORE ESSENTIAL POINTS TO SHARE ….<br />
    • 20. Are YOU one ?<br />…Creative<br />…innovative…<br />…disciplined &amp;<br />…persistent…<br />WHO’S AN ENTREPRENEUR ?<br />
    • 21. WHAT SKILLS AND KNOWLEDGE DO I HAVE OR TO ACQUIRE ?<br />I don’t know how to sell... LEARN HOW!<br />I don’t know about the business…but I have the capital… LEARN FROM EXPERTS!<br />What am I good at ? <br />BUILD ON IT !<br />What am I passionate about?<br />PURSUE IT!<br />
    • 22. Build on your STRENGTH &amp; Manage your WEAKNESSES<br />ASSET<br />LIABILITIES<br />CASH FLOW<br />EARNINGS<br />RISKS<br />VALUES<br />SKILLS <br />KNOWLEDGE<br />TIME<br />RESOURCES<br />BUSINESS<br />SELF<br />ARE YOU READY…<br />To face the truth about yourself?<br />
    • 23. Are you ready to make the CHOICE– what are you willing to let go? <br />ESSENTIAL<br />ADDS VALUE TO YOUR LIFE<br />CAN DO WITHOUT<br />NICE TO HAVE<br />NEED<br />WANT<br />…which has a stronger pull…<br />
    • 24. WHAT’S MY HABITS AND BEHAVIOR?<br />.. I make do with what I’m earning…no need to change..<br />OR<br />….. I want to improve my finances, I’ll work on my skills and knowledge to earn more …...<br />
    • 25. WHAT’S MY HABITS AND BEHAVIOR?<br />.. I pay my bills before its due…..<br />..I settle loans faster to save interest…<br />OR<br />.. I spend..increases credit card balance…<br />..use personal loan to pay off..I’m still earning…can still pay…<br />
    • 26. WHAT’S MY HABITS AND BEHAVIOR?<br />.. I hardly have enough to spend, where to have savings ..<br />OR<br />….. I put aside xx% of what I earn before spending…...<br />
    • 27. WHAT’S MY HABITS AND BEHAVIOR?<br />.. I spend on what I need…and little indulgences once in a while….<br />OR<br />…. Sale is here…..time to buy…got ‘discount’ …..I must be seen with the trendiest stuff…..<br />
    • 28. WHAT’S MY HABITS AND BEHAVIOR?<br />.. I invest when I have the money ..<br />OR<br />….. I have a savings plan &amp; I get advice from experts what to do with my money…<br />
    • 29. ….what changes can I make…<br />what’s the impact ...<br />What would my current action lead to ? <br />What’s the possible impact of those choices made today in my foreseeable future <br />Your current actions <br />determines your future !! <br />
    • 30. ….my Story &amp; my Emotions...<br />Sad<br />… (mostly) at early period of self employment…<br />HAppy<br />… getting lesser &amp; lesser…<br />Time sure flies !<br />… at one point of time… find myself at a crossroad……<br />
    • 31. ….my Story &amp; my Emotions...<br />Sad<br />… (mostly) at early period of self employment…<br />HAppy<br />… getting lesser &amp; lesser…<br />… luckily someone came to the rescue…<br />
    • 32. ….whatI’m currently doing...<br />…I focus on my goals<br />…with some guidance…<br />
    • 33. ….a taste of success !…<br />…What’s next....<br />…come up with something <br />totally new ?....<br />…not really, just an <br />enhanced version….<br />
    • 34. BRINGING YOUR BUSINESS TO GREATER HEIGHTS….<br />
    • 35. …MAKE YOUR MONEY WORK HARDER FOR YOU….<br />….INVEST YOUR MONEY….<br />…PROPERLY…<br />SAMPLE<br />SAMPLE<br />Is your $$ in the ‘right’ currency ?<br />
    • 36. Last ……but not least ...<br />…give to those who need, when you can do so…<br />
    • 37. Be Happy, Healthy &amp; Wealthy <br />Best regards, <br />Simply Empowering Team<br />www.joycelim.net<br />All rights reserved © June 2011<br />

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