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ARE YOU READYTO HAVE YOUR OWN BUSINESS<br />By : <br />Joyce Lim<br />Certified Financial Planner<br />www.joycelim.net<br...
THE BEGINNING<br />…off to a great start….<br />
EVERYONE WAS GIVEN A CHANCE TO SHARE WHAT THEY DO<br />INTRODUCTION BY PARTICIPANTS<br />
KEY AREAS COVERED<br />
Briefly….<br />BUSINESS<br />Who, What, When & How<br />$$ in business & in personal life<br />$$$$$<br />
EMOTION<br />Briefly….<br />MENTAL<br />Attitude & Behavior<br />YOU<br />How it affects you<br />
Briefly….<br />YOU<br />What role you play….<br />What are your habitual thoughts….<br />
BUSINESS SET UP- ORGANIZATION CHART<br />Organization Chart - Do I need one?<br />Which ‘hat’ are you wearing ?<br />Yes !...
Organization Chart<br />Gives clarity to the roles each function plays in the success of the business…<br />If you did not...
FUN TIME !<br />PRACTICAL SESSION<br />..…time for some fun….<br />
..group discussion time….<br />
ROLES & RESPONSIBILITIES <br />Time TO <br />present<br />Each Dept/Function present : Why I deserve an Increment/Bonus<br />
PRESENTATION BY PARTICIPANTS<br />The owners<br />The lovely CEO Representative<br />Where’s the finance dept? <br />2  be...
INFO & INFORMATION SYSTEM<br />CREATE YOUR INFO SYSTEM<br />CYS, ROY, EUS ????<br />…Its actually(read downwards)…..<br />...
INFO & INFORMATION SYSTEM<br />CREATE YOUR INFO SYSTEM<br />** Ratio analysis<br />
INFO & INFORMATION SYSTEM<br />CREATE YOUR INFO SYSTEM<br />…just use simple worksheet <br />& wordprocessor<br />to maint...
WHAT DO I WANT TO KNOW ?<br />…HOW TO…<br />
WHAT ABOUT $$$$FLOW?? <br />?  Why no money in bank account - where did the money go<br />?  How to optimize cash usage<br...
……HALF WAY THERE…..<br />….A FEW MORE ESSENTIAL POINTS TO SHARE ….<br />
Are YOU one ?<br />…Creative<br />…innovative…<br />…disciplined &<br />…persistent…<br />WHO’S AN ENTREPRENEUR ?<br />
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 th...
Build on your STRENGTH & Manage your WEAKNESSES<br />ASSET<br />LIABILITIES<br />CASH FLOW<br />EARNINGS<br />RISKS<br />V...
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...
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 impr...
WHAT’S MY HABITS AND BEHAVIOR?<br />.. I pay my bills before its due…..<br />..I settle loans faster to save interest…<br ...
WHAT’S MY HABITS AND BEHAVIOR?<br />.. I hardly have enough to spend, where to have savings ..<br />OR<br />….. I put asid...
WHAT’S MY HABITS AND BEHAVIOR?<br />.. I spend on what I need…and little indulgences once in a while….<br />OR<br />…. Sal...
WHAT’S MY HABITS AND BEHAVIOR?<br />.. I invest when I have the money ..<br />OR<br />….. I have a savings plan & I get ad...
….what changes can I make…<br />what’s  the impact ...<br />What would my current action lead to ? <br />What’s the possib...
….my Story & my Emotions...<br />Sad<br />… (mostly) at early period of self employment…<br />HAppy<br />… getting lesser ...
….my Story & my Emotions...<br />Sad<br />… (mostly) at early period of self employment…<br />HAppy<br />… getting lesser ...
….whatI’m currently doing...<br />…I focus on my goals<br />…with  some  guidance…<br />
….a taste of success !…<br />…What’s next....<br />…come up with something <br />totally new ?....<br />…not really, just ...
BRINGING YOUR BUSINESS TO GREATER HEIGHTS….<br />
…MAKE YOUR MONEY WORK HARDER FOR YOU….<br />….INVEST YOUR MONEY….<br />…PROPERLY…<br />SAMPLE<br />SAMPLE<br />Is your $$ ...
 Last ……but not least ...<br />…give to those who need, when you can do so…<br />
 Be Happy, Healthy & Wealthy <br />Best regards, <br />Simply Empowering Team<br />www.joycelim.net<br />All rights reserv...
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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

Published in: Economy & Finance, Business
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Are You Ready To Have Your Own Business V 1.0

  1. 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. 2. THE BEGINNING<br />…off to a great start….<br />
  3. 3. EVERYONE WAS GIVEN A CHANCE TO SHARE WHAT THEY DO<br />INTRODUCTION BY PARTICIPANTS<br />
  4. 4. KEY AREAS COVERED<br />
  5. 5. Briefly….<br />BUSINESS<br />Who, What, When & How<br />$$ in business & in personal life<br />$$$$$<br />
  6. 6. EMOTION<br />Briefly….<br />MENTAL<br />Attitude & Behavior<br />YOU<br />How it affects you<br />
  7. 7. Briefly….<br />YOU<br />What role you play….<br />What are your habitual thoughts….<br />
  8. 8. BUSINESS SET UP- ORGANIZATION CHART<br />Organization Chart - Do I need one?<br />Which ‘hat’ are you wearing ?<br />Yes !<br />Even if I’m the only one in business…<br />
  9. 9. Organization Chart<br />Gives clarity to the roles each function plays in the success of the business…<br />If you did not achieve your target….<br />CHECK WHO HAS NOT PLAYED THEIR ROLE !<br />
  10. 10. FUN TIME !<br />PRACTICAL SESSION<br />..…time for some fun….<br />
  11. 11. ..group discussion time….<br />
  12. 12. ROLES & RESPONSIBILITIES <br />Time TO <br />present<br />Each Dept/Function present : Why I deserve an Increment/Bonus<br />
  13. 13. PRESENTATION BY PARTICIPANTS<br />The owners<br />The lovely CEO Representative<br />Where’s the finance dept? <br />2 because there’s disparity <br />The sales <br />team leader<br />The Admin & Operation – the under-appreciated one ?<br />
  14. 14. INFO & INFORMATION SYSTEM<br />CREATE YOUR INFO SYSTEM<br />CYS, ROY, EUS ????<br />…Its actually(read downwards)…..<br />…create your own Info system…<br />…putting data in the order that makes sense…. <br />** Ratio analysis<br />
  15. 15. INFO & INFORMATION SYSTEM<br />CREATE YOUR INFO SYSTEM<br />** Ratio analysis<br />
  16. 16. INFO & INFORMATION SYSTEM<br />CREATE YOUR INFO SYSTEM<br />…just use simple worksheet <br />& wordprocessor<br />to maintain records ….<br />** Ratio analysis<br />
  17. 17. WHAT DO I WANT TO KNOW ?<br />…HOW TO…<br />
  18. 18. WHAT ABOUT $$$$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. 19. ……HALF WAY THERE…..<br />….A FEW MORE ESSENTIAL POINTS TO SHARE ….<br />
  20. 20. Are YOU one ?<br />…Creative<br />…innovative…<br />…disciplined &<br />…persistent…<br />WHO’S AN ENTREPRENEUR ?<br />
  21. 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. 22. Build on your STRENGTH & 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. 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. 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. 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. 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. 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. 28. WHAT’S MY HABITS AND BEHAVIOR?<br />.. I invest when I have the money ..<br />OR<br />….. I have a savings plan & I get advice from experts what to do with my money…<br />
  29. 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. 30. ….my Story & my Emotions...<br />Sad<br />… (mostly) at early period of self employment…<br />HAppy<br />… getting lesser & lesser…<br />Time sure flies !<br />… at one point of time… find myself at a crossroad……<br />
  31. 31. ….my Story & my Emotions...<br />Sad<br />… (mostly) at early period of self employment…<br />HAppy<br />… getting lesser & lesser…<br />… luckily someone came to the rescue…<br />
  32. 32. ….whatI’m currently doing...<br />…I focus on my goals<br />…with some guidance…<br />
  33. 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. 34. BRINGING YOUR BUSINESS TO GREATER HEIGHTS….<br />
  35. 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. 36. Last ……but not least ...<br />…give to those who need, when you can do so…<br />
  37. 37. Be Happy, Healthy & Wealthy <br />Best regards, <br />Simply Empowering Team<br />www.joycelim.net<br />All rights reserved © June 2011<br />

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