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Monthly Archives: December 2012

10 Lessons I Learn from a Successful Entrepreneur of a Listed Company

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This December, I had a little down time from work and I have been reading quite a fair bit.

I chanced upon this book by Boyd Au, the executive chairman of Enzer, a listed company in Singapore.

In this book, he shares how he came from a humble background as a Salvation Army waif to become the chairman of listed Company Enzer.

What is really inspiring about Boyd was how he came from a working class background to eventually become a successful business man.

His mum was a cook and he never saw his dad. His step-father was a seaman.

When he was six years old, his mum left him at the Salvation Army as she has to work in Malaysia and only visited him twice. Once, to enrol him there and another time to bring him back at the age of twelve.

Boyd has a wealth of experience and he shares freely about his business experience as he hopes to empower peopleto become successful entrepreneurs. These are his top 10 tips to becoming a successful entrepreneur.

 

Boyd’s 10 Tips to Be a Successful Entrepreneur.

  1. Have a vision

Boyd feels that in order to have a successful business, one must have a vision. His vision for Enzer came about as he desired quality hi-fi and entertainment systems that were of high quality, beautifully designed and affordable. When he was young, he wanted beautiful things but could not afford it, hence he wanted as man people as possible to be able to afford well-designed products. His new company’s vision is to ‘transform lives through entrepreneurship’.

 

 

  1. Focus

He feels that this is paramount

as everyone has limited time in a day. In order to be the best, one must focus and not be distracted.

  1. Network

You have to network consistently. He shares how he found his sales manager through a casual conversation with a passenger sitting beside him on a plane. He believes you have to be ‘sincere in giving back’ and not just to gain.

  1. Believe in yourself

Belief in yourself is important. I share the same belief as well. I remember one occasion when I was called by a government agency to have a meeting with them as they had intended to have the company that I was working for listed as one of the partners. During that meeting, the high ranking officer kept running my company down and I had no idea what hit us. I am glad to say that because of the belief in my company and the things that we were doing then, that I now have business partners in other parts of the world who are willing to partner and work with us.

  1. Add value to others

Boyd believes that if you have products that can add value to people lives such as the computer and iPhone, you should not be shy about it and instead work hard in introducing it to the market.

  1. Diligence

This is self explanatory. Thomas Edison used to say the success is 1% inspiration and 99% perspiration.

  1. Sow and reap

Boyd believes that the blessed should contribute back to society if they are in the capacity to do so. They can contribute time, money and resources to help others. He now spends his time contributing to his church activities and helping other entrepreneurs build more successful businesses and transform their lives. He is a philanthropist who contributes to charities as well.

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  1. Build trust and relationships

Boyd remembers there were occasions when the deliveries were late and he sent his staff to personally wait for the components to be delivered and straight away sent them to his customers so that they can fulfil their promised delivery date. He gained the trust and relationship of his customers. There were occasions in my company that we were late due to supplier’s late shipment but we paid extra and sent them immediately to our customers, some as early as 7 am in the morning when they opened.

  1. Execution

In the words of Robert Ringer, “Nothing happens until something moves”. Execution and taking action is key to success.

 

  1. Develop and improve through continuous learning.

Boyd is someone who never stops learning. Even after selling off his business, he did not retire. In fact, he spent more time developing from success to significance towards building something that will leave a legacy. Recently, he enrolled in an Internet marketing course and even continues to learn new things.

 

With 2013 just another ten days away, I hope all these 10 tips can inspire you as you scale greater heights in your online business in 2013.

Wishing you and your family and Merry Christmas and a fruitful year ahead.

Oh yes, Boyd Au’s book is the Number 1 Bestselling book in Singapore. You can purchase a copy of his book “I Don’t Want To Be Poor.”

===========================================================================================

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Dec 21, 2012

How to Bootstrap Your Way to An Online Business

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Most people who start an online business are

looking for quick and simple ways to either supplement their monthly income

or  a replacement income if they have recently been laid off.

However, most of you fall prey to those ‘get-rich-quick’ schemes that promise you the world, but fail to deliver on its promises.

 

If I were to start a new online business again, these are the three steps I will take to start with little to no money.

 

They are…

i) :: Find Your Niche

There are many ways to identify a niche you can start.

I usually start with a list of the things that I am interested in, followed by categorizing them in a mind-map.

For instance, if I have a list that reads as follows

  • Origami
  • Value investing
  • Boot-strapping your way to a business
  • Budget travel
  • self-improvement
  • book review site
  • Amazon review site
  • How to lose weight
  • How to live a location independent lifestyle
  • Low-cost marketing strategies for small businesses.

Once I have a list that looks like this, I will create a mind-map and categorize them according to the various categories such as

#Business

#Self-improvement

#Travel

#Hobbies and interest

#Personal Investing

 

From there, I will rank my top interest and pick one or two to gauge the demand for the topic.

This is the tool I use to search for the demand.

 

Google Keyword Tool

==> https://adwords.google.com/o/Targeting/Explorer?__c=1000000000&__u=1000000000&ideaRequestType=KEYWORD_IDEAS

 

Just enter a keyword or phrase and click search.

Google will list the search demand for the keyword and related keywords.

They will also list down the competition for the search rates. For instance, if we search on

 

These are the searches that you will be shown

Googlesearchtool

From the search, you can see that there is very high competition and demand for this search term.

There are a total of 27,100 global searches for this term and local search in the U.S.A is about 1000 searches monthly.

So if this is the niche that I want to start, I will start a

to start a blog or website on.

My first preference is to start with a blog in order to drive traffic and interest.

If there are people reading and commenting on my blog post, then it shows that there is a substantial interest amongst people for this niche.

This is also a niche that can easily be monetized.

Googlesearch27000

 

To learn how to start a  profitable blog, you can go here

==> Start a Profitable Blog and Make $41,000 from Home

 

ii) :: Build Your List

 

I cannot emphasize the importance of this in building an online business. This was one of my biggest mistakes that I made starting online when I first started.

I failed to build a list. Thereafter, i realized that all the gurus who are making money online have their own list. They have taken the time to build up an audience for their products before developing them and selling them in the marketplace.

There are many tools to build an online list and one of the first ways I started to build a list was to start a squeeze page.

That is a landing page with a box to enter their names and email addresses and offering them a ‘freebie’,  usually an info-product that will be of benefit to my readers.

Building a list is important as not many people will buy from you the first time they encounter your. You will need time to cultivate a relationship and earn your sale.

Thus having a list will help you keep in touch with your website visitors and you can make the sale on the back-end later.

iii) :: Serve Through Selling

This point is related to point number 2 on building a list. Building a list enables you to share your knowledge with your subscribers.

Once they get to know more about you and you have gained their trust, you can start to promote some of the products that you have found useful online.

However, not everyone who reads your blog post or emails is going to buy from you. And that is okay. Not every product that you have or promote is going to appeal to everyone or there are some people who may be facing budget constraints. Continue to serve the audience in your blog or emails and building a following. Serve the audience.

These are some of the skills that I have learned by reading the blogs of the Dot Com Mogul John Chow.

I first encountered his blo9g through a recommendation from a friend about someone who has managed to monetize their website and made $41,000 online.

He has now shared his secrets online and you can check out his step-by-step modules on

“How to Start a Profitable Blog” at

==>Step-by-step guide to building a profitable blog from home

Treat this as a Christmas present for yourself. In the next 12 months, your  family will thank you for it.

 

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