Everyone wants to be an entrepreneur, but few know how to make it profitable. Business Coach and Trainer Andy Ng from www.asiatrainers.com equip you with the 5-ways profit leverage

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Business Coach and Trainer
How to $tart and
$ucceed in Your
Own Business
Your Presenter: Andy Ng CA MBA

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Your Trainer Coach Andy NgYour Trainer Coach Andy Ng
• Started doing business at age of 5Started doing business at age of 5
• CA with MBA from UKCA with MBA from UK
• 28 years of experience in28 years of experience in
management, finance, consultancymanagement, finance, consultancy
and trainingand training
• Former Director of Finance, HR &Former Director of Finance, HR &
Admin of Allied Telesis Int’l (Asia)Admin of Allied Telesis Int’l (Asia)
• Since 2001, full-time BusinessSince 2001, full-time Business
Coach and Trainer, trained overCoach and Trainer, trained over
81,131 people in 15 countries81,131 people in 15 countries
• Also partner in a billion-dollar e-Also partner in a billion-dollar e-
commerce bio-science businesscommerce bio-science business
• Happy Man, Son, Husband & FatherHappy Man, Son, Husband & Father
(of 3 happy children)…(of 3 happy children)…
www.asiatrainers.com

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Get Inspired by me 24/7Get Inspired by me 24/7
www.AndyNgTrainer.blogspot.sgwww.AndyNgTrainer.blogspot.sg
andy@asiacoachingtraining.comandy@asiacoachingtraining.com
www.asiatrainers.comwww.asiatrainers.com
www.youtube.com/AndyNgCoach/videoswww.youtube.com/AndyNgCoach/videos
www.facebook.com/AndyTheCoachwww.facebook.com/AndyTheCoach
www.instagram.com/AndyTheCoachwww.instagram.com/AndyTheCoach
www.slideshare.net/AndyTheCoach1www.slideshare.net/AndyTheCoach1

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Latest Article in ST: 6 May 2016Latest Article in ST: 6 May 2016
http://asiatrainers.com/index.php/resources/articles/439-how-to-recession-proof-your-career

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How to Start & SucceedHow to Start & Succeed
In Your Own BusinessIn Your Own Business
1.1. Three Ways to Become RichThree Ways to Become Rich
2.2. Why being Your Own Boss is Good NOWWhy being Your Own Boss is Good NOW
3.3. Two Strong Foundations: Money MakingTwo Strong Foundations: Money Making
Model and People Passion PowerModel and People Passion Power
4.4. What is a Good Business forWhat is a Good Business for YouYou??
5.5. Five Criteria for Successful BusinessFive Criteria for Successful Business
6.6. Key Skills & Know-how for BusinessKey Skills & Know-how for Business
SuccessSuccess
7.7. ACT’s 5-Way Profit Building LeverageACT’s 5-Way Profit Building Leverage
8.8. Five Steps to Start Your Own Business nowFive Steps to Start Your Own Business now

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3 Ways to Become Rich in this3 Ways to Become Rich in this
WorldWorld
1.1. High Level Employee/Civil ServantHigh Level Employee/Civil Servant (2%)(2%)
2.2. Highly Paid Professional (10%)Highly Paid Professional (10%)
3.3. Sell Your Way to the Top (5%)Sell Your Way to the Top (5%)
4.4. Invent Your Way (< 1%)Invent Your Way (< 1%)
5.5. Start Your Own Business (82%)Start Your Own Business (82%)

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We all want to be RICH…….We all want to be RICH…….

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2 Elements in Wealth2 Elements in Wealth
Cash coming inCash coming in
year after yearyear after year
Cash Flow canCash Flow can
be Active orbe Active or
PassivePassive
Value AddedValue Added
(Profit)(Profit)
Cashflow re-Cashflow re-
invested toinvested to
Create MoreCreate More
ValueValue
Chinatown CD shop
Does Your current job leads you to wealth?

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No need to work anymore?
Successful People are not
hardworking at all, they’re just
playful. Why?
Why Be Your Own Boss?Why Be Your Own Boss?

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Success is a Journey…Success is a Journey…

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Most people only ever have a ...Most people only ever have a ...
Pay tax first and spend what’s left vs. (CPF 6%)
Spend first and pay tax on what’s left

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Now is the best time for businessNow is the best time for business ……
1.1. $1 co. with 1 director and 1 shareholder$1 co. with 1 director and 1 shareholder
2.2. Only $325 to incorporate a company or $60Only $325 to incorporate a company or $60
to register a businessto register a business ((www.acra.gov.sgwww.acra.gov.sg))
3.3. No tax for first $100K profitsNo tax for first $100K profits
4.4. Tax only at 8.5% for 1Tax only at 8.5% for 1stst
$300K profits (vs 20%$300K profits (vs 20%
tax for individual earning $300K)tax for individual earning $300K)
5.5. Can qualify for govt. tenders without trackCan qualify for govt. tenders without track
recordrecord ((www.gebiz.gov.sgwww.gebiz.gov.sg))
6.6. Audit exemption as long as sales < $10mAudit exemption as long as sales < $10m
7.7. Co. secretary exemption: save $600 yearlyCo. secretary exemption: save $600 yearly

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8.8. HDB flat can be used as officeHDB flat can be used as office
9.9. Get FREE Tools & Consultancy underGet FREE Tools & Consultancy under
SPRING’s ICV schemesSPRING’s ICV schemes
10.10. Can use E-Commerce to run businessCan use E-Commerce to run business
from anywhere anytimefrom anywhere anytime
11.11. Make money from training yourselfMake money from training yourself
(SkillsFuture Credit)(SkillsFuture Credit)
12.12. EDB SEED fundingEDB SEED funding (up to $600K for new projects(up to $600K for new projects
13.13. Very fashionable now, unlike in the pastVery fashionable now, unlike in the past
……
Now is the best time for business…Now is the best time for business…

14. Biggest Advantage ofBiggest Advantage of
Business Over EmploymentBusiness Over Employment
Can Afford to Lose – because there are so many customers!
Happier and Less Stress

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80% of Businesses Fail80% of Businesses Fail
Within the first 5 yearsWithin the first 5 years……
Not because the owner didn’t workNot because the owner didn’t work
hard, but because he worked hardhard, but because he worked hard
without leveragewithout leverage
Trapped into doing the work andTrapped into doing the work and
nothing else…sees the vision asnothing else…sees the vision as
getting enough business andgetting enough business and
keeping busy…keeping busy…
Did not have the 2 Foundations:Did not have the 2 Foundations:
Money Making Model andMoney Making Model and
Continuous GrowthContinuous Growth

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2 Strong Business Foundations2 Strong Business Foundations
Able to make moneyAble to make money
regardless ofregardless of
economyeconomy
Not caught by risingNot caught by rising
business cost orbusiness cost or
declining profitdeclining profit
marginmargin
Not dependent onNot dependent on
local market or anylocal market or any
big boysbig boys
Rising World TrendRising World Trend
Ride on a Big and FastRide on a Big and Fast
Moving ShipMoving Ship
Not limited by capital orNot limited by capital or
manpower constraintsmanpower constraints

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What Business Should You be
In?......

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‘Rights’ Age, Not Information Age

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5 Criteria of a Good Business5 Criteria of a Good Business
1.1. REPLACEMENTREPLACEMENT – Continuous Demand all time– Continuous Demand all time
2.2. CUSTOMERS EVERYWHERECUSTOMERS EVERYWHERE – Everyone can be– Everyone can be
Your Customer (from young to old)Your Customer (from young to old)
3.3. SELL MORESELL MORE - Opportunity to Up-Sell, Cross-Sell,- Opportunity to Up-Sell, Cross-Sell,
Add-on Sell, Bundle Sell, Down SellAdd-on Sell, Bundle Sell, Down Sell
4.4. PROFITS and CASH FLOWPROFITS and CASH FLOW - Margins steady and- Margins steady and
growing – with growing cash flow toogrowing – with growing cash flow too
5.5. PASSIONPASSION – take your passion & make it happen!– take your passion & make it happen!

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5 Recession-Proof Business5 Recession-Proof Business
1. Education – from children to adults, from
basic skills to spiritual and enrichment
courses, from Education to Re-education
2.2. Accounting and Auditing (due to lack ofAccounting and Auditing (due to lack of
trust), esp. Forensic Accountingtrust), esp. Forensic Accounting
3.3. IT – from system analyst to mobileIT – from system analyst to mobile
computing, from wireless to networks…computing, from wireless to networks…
4.4. Security – security in an insecure worldSecurity – security in an insecure world
5.5. Wellness and Healthcare (esp. Anti-Wellness and Healthcare (esp. Anti-
Ageing and cell rejuvenation)Ageing and cell rejuvenation)

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Good Business to Start in Singapore…...Good Business to Start in Singapore…...
1. Group Tuition
2.2. Hawker (food cooked at Caterer)Hawker (food cooked at Caterer)
3.3. Consultancy: Get rid of Debt & Inventory,Consultancy: Get rid of Debt & Inventory,
Company Restructuring, SuccessionCompany Restructuring, Succession
4.4. Consultancy on Government FundingConsultancy on Government Funding
5.5. Outsourcing: Direct Sales & TelesalesOutsourcing: Direct Sales & Telesales
6.6. Referral & NetworkingReferral & Networking
7.7. Debt CollectionDebt Collection
8.8. Stress Release and Stress ReductionStress Release and Stress Reduction (cry shop)(cry shop)
9.9. Parenting and SinglehoodParenting and Singlehood
10.10.Social Media Marketing (eg WeChat)Social Media Marketing (eg WeChat)
11.11.WellnessWellness

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To mine for gold ...To mine for gold ...
Stand in the path of people who want to buy rather
then you having to go out there to sell
Levis jeans

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Mindset of EntrepreneursMindset of Entrepreneurs
1.1. Abundance, not ScarcityAbundance, not Scarcity
2.2. Play the Game to Win, not toPlay the Game to Win, not to
not losenot lose
3.3. Think Value (investment), notThink Value (investment), not
cost (expense) eg trainingcost (expense) eg training
4.4. Focus on opportunities, notFocus on opportunities, not
obstaclesobstacles
5.5. Associate with positive &Associate with positive &
successful peoplesuccessful people
6.6. Be Well RoundedBe Well Rounded

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Hard Skills that Everyone Must PossessHard Skills that Everyone Must Possess
Not convincing people to buy but creating
the conditions for people to buy
Payments, Tax,
Accounting
Procurement, Warehousing,
Logistics, Delivery, IT
Connection, not Impress
Service from the Heart
Get more things done from TEAM
without hiring a single staff

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2. If available, register on-line with ACRA
 If your biz name is not finalized, register
as sole proprietorship first instead of
company
1. Get a good business name and check
with www.acra.gov.sg to see if
available
3.Create a site and promote it via social
media and mobile marketing
4.Inform all your friends about your
new business and sell to them
How to Register Your Company
and Get Your First Customer

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2. Price Your goods/services at a level that
will make potential buyers move
1. Set up Proper Business Profile – Your
Backing, list of services/goods, key
benefits, points of difference
4.Impress your suspects with your seriousness
and commitment – and give them an
Irresistible Offer
5. Serve your first customer well – ask for
testimonials, referrals. Start looking for next
customer right away.
Getting Your First Customers
With Ease (within 2 months)
3. Do marketing and Get Immediate Results

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Overcome the 3 Big BarriersOvercome the 3 Big Barriers
1.1. Money (Need Start-up Capital andMoney (Need Start-up Capital and
Operating Expenses)Operating Expenses)
2.2. Know-how (1Know-how (1stst
hand or 2hand or 2ndnd
hand)hand)
3.3. Immediate Sales in 2 monthsImmediate Sales in 2 months

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Number of ProspectsNumber of Prospects
xx
Conversion RateConversion Rate
==
No. of CustomersNo. of Customers
xx
No. of TransactionsNo. of Transactions
xx
Average Sale ValueAverage Sale Value
==
SalesSales
xx
MarginMargin
==
ProfitsProfits

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Number of LeadsNumber of Leads
xx
Conversion RateConversion Rate
==
No. of CustomersNo. of Customers
xx
No. of TransactionsNo. of Transactions
xx
Ave. Sale ValueAve. Sale Value
==
SalesSales
xx
MarginMargin
==
ProfitsProfits
1,0001,000
xx
25%25%
==
250250
xx
22
xx
$1,000$1,000
==
$500,000$500,000
xx
15%15%
==
$75,000$75,000
What if with just a 10% increase ...What if with just a 10% increase ...
1,1001,100
xx
27.5%27.5%
==
302.5302.5
xx
2.22.2
xx
$1,100$1,100
==
$732,050$732,050
xx
16.5%16.5%
==
$120,789$120,789

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That’s a 46.4%That’s a 46.4%
increase in yourincrease in your
Sales ...Sales ...
With just 10% increase

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For FUN, what if 100% ... ?For FUN, what if 100% ... ?
Number of LeadsNumber of Leads
xx
Conversion RateConversion Rate
==
No. of CustomersNo. of Customers
xx
No. of TransactionsNo. of Transactions
xx
Ave. Sale ValueAve. Sale Value
==
SalesSales
xx
MarginMargin
==
ProfitsProfits
1,0001,000
xx
25%25%
==
250250
xx
22
xx
$1,000$1,000
==
$500,000$500,000
xx
15%15%
==
$75,000$75,000
2,0002,000
xx
50%50%
==
1,0001,000
xx
44
xx
$2,000$2,000
==
$8 million$8 million
xx
30%30%
==
$2.4 million$2.4 million

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Ask not if this is possible, but ...Ask not if this is possible, but ...

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Key Idea in Each Way…Key Idea in Each Way…
Inexpensive ways to get
Expensive Leads
Cutting wastage in
your sales & marketing
Maximize the lifetime
value of your clients
Get them to spend
more right from Day 1
Higher sales with
higher profitability
base

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FREE Strategies in Each Way…FREE Strategies in Each Way…
Social Media
Networking
Written Guarantee
Sales Scripts
Loyalty Strategies
Plan Future
Purchases
Bundling
Checklist
Systematize
Use FREE Help

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If starting and succeeding in business is aIf starting and succeeding in business is a
breeze, why aren’t many people doing it?breeze, why aren’t many people doing it?
Lady-Fear

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What Are Your Fears?What Are Your Fears?
1.1. No capitalNo capital
2.2. No monthly income toNo monthly income to
support livessupport lives
3.3. NO customersNO customers
4.4. No contactsNo contacts
5.5. No support from friendsNo support from friends
6.6. No time to enjoy lifeNo time to enjoy life
7.7. No gutsNo guts
1.1. Can always start small,Can always start small,
all you need is S$38all you need is S$38
2.2. Can do part time jobCan do part time job
3.3. CustomersCustomers willwill come ifcome if
you do marketingyou do marketing
4.4. Over 1.68 B people in FBOver 1.68 B people in FB
5.5. Real friend?Real friend?
6.6. Business is more fun!Business is more fun!
7.7. It’s already in your bodyIt’s already in your body

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Is there an instant shortcut?Is there an instant shortcut?
Have all systems ready in shortest time?Have all systems ready in shortest time?
1. Real Estate Agencies
2. Insurance and Financial Planning
Firms
3. Franchises (S$60K to S$200K)
4. Buy over existing business (at least
S$100K)
Learn the shortcuts from
people who have done it before!
5. Join and Leverage on a Network

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Brad Sugars, ActionCOACHBrad Sugars, ActionCOACH
Chairman said …Chairman said …
"If you think training is"If you think training is
expensive, tryexpensive, try
ignorance”ignorance”

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How to Start & SucceedHow to Start & Succeed
In Your Own BusinessIn Your Own Business
1.1. Three Ways to Become RichThree Ways to Become Rich
2.2. Why being Your Own Boss is Good NOWWhy being Your Own Boss is Good NOW
3.3. Two Strong Foundations: Money MakingTwo Strong Foundations: Money Making
Model and People Passion PowerModel and People Passion Power
4.4. What is a Good Business forWhat is a Good Business for YouYou??
5.5. Five Criteria for Successful BusinessFive Criteria for Successful Business
6.6. Key Skills & Know-how for BusinessKey Skills & Know-how for Business
SuccessSuccess
7.7. ACT’s 5-Way Profit Building LeverageACT’s 5-Way Profit Building Leverage
8.8. Five Steps to Start Your Own Business nowFive Steps to Start Your Own Business now
www.asiatrainers.com