PersonalGrowth & SelfEsteem

Business Performance is all about an objective quantitative measurement about the financial wellbeing or otherwise of a business. It is not meaningful to use absolute monetary measurement to show a business performance. A typical measurement is to use financial ratios or percentages. By using this method, an objective quantitative measurement can be derived and this measurement can be compared from one business to another where absolute monetary measurement cannot be used to compare one business with another. An example of a typical financial ratio is the return on equity. Its formula is to use a business’ profit after tax divided by its capital plus reserves. This would result in a ratio which gives a profit as compared to its capital and reserves that the business employs.Financial wellbeing is one key aspect of a business.For a complete solution, you need to consider the business performance management.

Here is a money making idea anyone can use with no experience in sales or business.

The opportunity……

SINGAPORE : The MediaCorp Radio Subaru Challenge is back again for the 6th year running.
This time it is a contest that started with 388 participants but, in the end, only the top two will drive away with a free car each. ( worth more than $65,000, without COE).
Just how long can the contestants last this time round?
Participants need hands that stick like glue in order to win this contest and it is much harder than it looks.
Participants are given a 5 mins toilet break every 6 hours only.

So how can you make money?
By selling to the participants protective underwear.

On average, there are 400 contestants and this is a yearly affair.If you marked up just $1, you can earn $400 easily, assuming half of them buy and each person buys two underwear. These are the serious players who know they will last more than a day.

In fact you can take this idea and for any events that require long hours, you have a ready market.
Feel free to post your comments here or if you made some money, feel free to donate a token sum.
No, not to me but to a charity.

P/s: Congratulations to  Sandra Yeow ( lasted 77 hrs,13 mins) and Kevin Lee ( 76hrs) who both won the cars for year 2007 challenge.

Have you been thinking of starting a business or earning additional income?
Here are 12 excellent traits of entrepreneurs by Perry Marshall, king of Adwords.

Twelve differences between those who dream and those who act:1-Wanna-be’s obsess about ideas. Entrepreneurs obsess about implementation.

2-Wanna-be’s want more web traffic. Enrepreneurs focus on sales conversion.

3-Wanna-be’s focus on positive thinking. Entrepreneurs plan for multiple
contingencies.

4-Wanna-be’s want to get on TV and get “famous.” Entrepreneurs build their
list.

5-Wanna-be’s seek a perfect plan. Entrepreneurs execute and adjust the plan
later.

6-Wanna-be’s wait for their lucky break. Entrepreneurs engineer four, five,
six plans and execute them in tandem, wagering that at least one plan will
get traction.

7-Wanna-be’s fear looking stupid in front of their friends. Entrepreneurs
willingly risk making fools of themselves, knowing that long-term success is
a good trade for short-term loss of dignity.

8-Wanna-be’s shield their precious ideas from harsh reality, postponing the
verdict of success or failure until ’someday.’ Entrepreneurs expose their
ideas to cold reality as soon as reasonably possible.

9-Wanna-be’s put off practicing basketball until they’ve got Air Jordans.
Entrepreneurs practice barefoot behind the garage.

10-Wanna-be’s believe what they’re told, believe their own assumptions.
Entrepreneurs do original research and determine what paths have been
already trod.

11-Wanna-be’s believe they can do anything. Entrepreneurs do what they’re
gifted for and delegate the rest.

12-Wanna-be’s think about the world in terms of COULD and SHOULD.
Entrepreneurs think in terms of IS and CAN BE.

So, what are you? Still obsessing over the how, or are you diving in head first?
Heck, even if you are doing it badly, you are DOING IT and are bound to stumble over sales!

Mr X used to work in the armed forces for 30 years and retired as a senior officer. Then he worked in a company holding a senior executive post.Eventually a new CEO came onboard and one day, suddenly the new CEO told  him that his assistant will take over and that Mr X was asked to retire. Prior to the new CEO, the previous one liked his work.
It was  a huge shock for Mr X, who is passed his sixties. What angered him was the fact that his feelings were not taken into account in the process.
Actually Mr X don’t really need the money.His two children  are married and he has a pension from the armed forces. Mr  X wanted to  continue working because  it keeps him healthy, fit and active.

As you read the story, what lessons can you gather?
For me, the story resonates well on the part where I would want to work as long as I can as it keeps my mind active, even when I am financially independent.
Another lesson that I  learned is that as employees,  it is good to have  alternatives or second income as contingency or running  concurrent as we never know when we will get the boot. No matter how stable or how high your salary, it is best to have backup plans.I know because I was laid-off before. And I lay-off employees before too. Both are unpleasant experiences.

So in case you miss my earlier “can you become a millionaire” article, do take a peep at it.
The message that I am trying to suggest there is that it it best to have a second source, especially if you are an employee.
And to consider some form of onlinebusiness as an option simply for the reason of us being physically weaker as we gets older and older while our mind is yet active.

So what happened to the CEO who had asked MrX to retire? He was asked to step down and left the company before he reach 60.

( Source of story: The Straits Times, dated 6 Oct 2007)

If you are an entrepreneur, you would appreciate networking with people to expand your circle of contacts. Recently, while surfing the net, I discovered Gobala Krishnan and he has come a long way in his journey in internet marketing.
If you are a newbie, like me, in starting an Internet Home Business , Gobala has been kind enough to allow link exchange. He has many tips and the two most important ones that I learned from him is to focus on what the market needs, not wants.The other great tip is to focus more on strategic than tactical.
And if you review his blog, he will link you back and send you tons of traffic.

 Just picture this…you are at a movie watching a best-seller show.The hero has cute white hair and his face is glowing with happiness and a sense of achievement and he is holding a party at his luxury boat. Celebrating his 65th birthday with his family and friends, he shares with them his success story.
The movie that suddenly switch to a scene where a 65 year old man is walking on the streets and picking up empty cans so that he can sell them for a couple of cents, just to get by day by day.The picture than fades away, getting darker and darker but just before it became total darkness, the man turned around and you can just catch a glimpse of his face.I don’t know the face but what if the face is your face?
The movie changes scene again. This time you are in front of your pc. Right now, you are reading this story….

By the time you reach age 65, only 4 out of 100 are financially independent. A good majority will still be in debt. And a good majority has to continue to work instead of retiring and relaxing at some beautiful beaches.
If you belong to the 4%, congratulations. But if you belong to the 96%, what can you do?
Well, to be in the 4%, we have to go back in time when you are in your twenties to forties.If you are now in your twenties to forties, you are in a good position to start your path to becoming a millionaire.
The only way is to know about money management. That is, how to earn, how to save, how to spend and how to invest. After knowing comes applying the skills.You heard it before but it is worth repeating here…many people know what to do but few people do what they know.
As the majority of us are employees or stay at home mums, one way to increase our chances of getting into the 4% population is to have a second source of income or multiple income or move over to becoming an entreprenuer.
But here is the catch 22 situation…to be an entreprenuer, the thinking is opposite to that of an employee.
For example, entrepreneurs are more bold to take risks and take corrective actions along the way. Employees, on the other hand tend to ensure that errors or mistakes are to be avoided as much as possible before the launch of the product.
Here’s another example…it is easy for an employee to work 9-5 daily.It is a habit.Entreprenuers may find that time management is a struggle in the beginning as he or she can work or not to work on certain days.
Want more examples?…employees are focus.If they do not submit their work on time, the boss is after their ass. Entreprenuers, in the beginning may get diverted as suddenly you are free to explore the numerous opportunities available. Nobody is going after your ass.
Whatever the case, one fact is true. If you want to become rich financially, you have to move beyond being an employee.Hmm, who the hell is Philip to say that?
Don’t know me?Then don’t trust what I just said. However, you can trust millionaires, don’t you? Robert Kiyosaki and T Harv Eker do mention this in their book.
What then are you options so that you, as an employee can move over to becoming an entreprenuer?
One of the best strategy is to remain as an employee and do some part-time business.Then when your part-time or free lance income exceeds your monthly salary, it is time for you to consider becoming a full fledge entreprenuer.
I know, you are already thinking ahead….just what type of part-time business can I do?
If you are not a first-time visitor to this site, by now you should have noticed that there are some programs which are actually businesses you can do online.
Starting an online business is an excellent strategy as little money is required and you can do it at home when you are back from work.
Can you spot some of the opportunities in this blog? One example is to blog and earn money.
Another benefit of internet business is that you can start a business that is also your hobby or something you enjoy doing, unlike working for people…sometimes you just hate to go to work, right?
Here is an example of enjoying what you do,earn some money at the same time and you friends will be happy that you are giving them shopping discounts==> shopping!
Or how about just being at peace with yourself? You can also be at peace with guided meditation songs.Just share it with your friends and who knows, some peace and cash will come into your life.

As an entreprenuer, one of the traits is to be able to spot opportunities.
So to sharpen your talent in spotting opportunities, try to spot all the money making opportunities in this website and post your comments.
I have not decided yet but the most promising entreprenuer ( the first one with the correct answers) may just get a surprise gift from me.
Happy Hunting!

Philip
P/s: What if you are already in your sixties now? I’d suggest you take massive action with doing some internet business.Why?
Reason#1: You have so much knowledged in your brain. You can share them via internet and make money at the same time.
Reason#2: As we grow older, we are less mobile due to our physical ageing. Working on the pc is a better option.

My good friend, Ash Phua has a favorite phrase, which is …”people lose their health to make money and then when old, they lose their money to restore health.” He walks the talk as he had suffered a heart attack before and is now very healthy. I”ll show you a picture of him as proof but first, want to know one of his secrets?
Introducing the “rebounder”. It was said that the late Bob Hope  who led a long life did rebounding daily.
The rebounder is a fun equipment to use as it basically a mini-trampoline and when you are jumping on it, you will feel like you are a child again, bouncing happily.
Just 15 minutes doing light jumping and doing it while watching TV will give you a great work out.
You can get a book about rebounder from Amazon by clicking here.
If you reside in Singapore, you can call or email Ash for more information.If you are lucky, he will happily do a demo for you ( but you may have to mention my name so that he knows.)

And now, see Ash’s picture after he rebounded to a new life using the i-bounce.
You can check out his website by clicking here.

Oh ya, tonite(Monday) I am watching an Indonesian movie, Hikmah Part II. Very good storyline and the main actress is simply stunning ( polish/indonesian blood).
…and you guess it right, I watch and bounce.

Today, I ‘d like to share some amazing tips from secrets of the millionaire mind by T Harv Eker. If you are struggling to grow rich, he suggests that we look at the root cause.Most people tackle the symptom.
If the tip of an iceberg represents money, the trick is to look below the tip of the iceberg to obtain lots of money and being able to growing the money.
He uses simple yet magical phrases to make our mind re-think about our beliefs in money. For example, ‘rich people are bigger than their problems.Poor people are smaller than their problems.’
Which means that everybody has problems but rich people have learnt to overcome or manage their problems whereas poor people are too pre-occupied with the problems.
For 16 other tips on how wealthy people think differently from poor people, click here.

 Here is your first tip on Financial Mastery:

Below are some phrases mentioned by Donald Trump, Warren Buffet, T Harv Eker, Dr John DeMartini……

#1: ‘…until you can manage emotion, don’t expect to manage money.’

#2: ‘…it is not how much you earn, it is how much you save and how much you spend.’

#3: ‘..poor people talk about income, rich people talk about networth.’

#4: ‘…everyday, I read the financial section of the newspaper to learn.’

I’ll let you guess who says what.

The phrases are short but extremely powerful. And these are statements from billionaires and millionaires.

For me, playing the stock market or stock options for two years weren’t successful. And it is due to reason #1.

Nine years ago, I used to earn a five figure salary every month. Yet I am not rich. The reason is due to #2.

#3 talks about your assets minus your liability. A house under mortgage should be regarded as a liability because if you sell your house, you still need to find a place to stay.#3 has caused me to raise my standards to earn more money in order to strive for positive networth.

#4 is mentioned by a billionaire. It simply means that we need to continuously learn in order to excel in anything we do.

Internalise the statements and be constantly aware about them for the next one week and see if your thinking starts to shift.