Something BIG is happening this December !

Something BIG is happening this December. My pals and I are currently working on a unique online business.

Something in demand, pretty common but done slightly differently.
It might change the way you look for your assets.
Watch this space :)

Ramadhan Sales

Ramadhan is always a challenging month for a Kopitiam business.

We need innovative ideas to overcome this. Thinking cap .... 

Phase 2 Delivery Services

Finally we have succeeded in becoming the first Kopitiam Delivery service in Malaysia.
We have started local deliveries in nearby vicinities eg Metropolitan Sq condo as well as Ritz 2 condominium.

We are now moving into Phase 2 which will cover Mutiara Damansara, TTDI, Damansara Perdana and
Bandar Utama - the first Old Town White Coffee Outlet to be doing Deliveries ! Great !
We have secured 2 Riders and are looking for more.

Meanwhile, I have just seen a few patients with kidney disease today and given them proper advice
and treatment. Hope they get better soon.

http://www.kidneysz.com/

Delivery Services for Kopitiam

Trying to finalise the workflow for Delivery Services for my kopitiam ....
Staff, scheduling, menus, brochures, transport, phone, database.
Exciting times ahead ... :)

The Rule of 72

The Rule of 72 is a quick way to estimate the effect of any growth rate in any financial calculations. Anybody who wants to become rich, financially free or grow their net worth need to know this formula. Here’s the formula:

Years to double = 72 / Interest Rate

This formula is useful for financial estimates and understanding the nature of compound interest. Examples:

• At 6% interest, your money takes 72/6 or 12 years to double.
• If you invested in ASB and are receiving 8% dividends, your money grows every 9 years (ie 72/8)
• If you are Warren Buffett, all your money invested in Berkshire Hathaway shares doubles every 3.1 years   (ie 72/23). Yes, his portfolio grew at 23% per annum! 
• To double your money in 10 years, get an interest rate of 72/10 or 7.2%.
• If your country’s GDP grows at 6% a year, the economy doubles in 72/6 or 12 years. Najib's target! 
• If your growth slips to 2%, it will double only in 36 years.... (yawn!).  If growth increases to 4%, the economy doubles in 18 years. Given the speed at which technology develops, shaving years off your growth time could be very important. Thus when one talks about investment, the velocity of money is extremely important.
• Thus whenever I collect my income, I never leave the money in the Savings account. I will quickly move it to another vehicle (moving at a faster speed).

You can also use the rule of 72 for expenses like inflation or interest:

• If inflation rates go from 2% to 3%, your money will lose half its value in 36 or 24 years.
• If college tuition increases at 5% per year (which is faster than inflation), tuition costs will double in 72/5 or about 14.4 years. If you pay 15% interest on your credit cards, the amount you owe will double in only 72/15 or 4.8 years!

The rule of 72 shows the power of compounding interest. This was what made Warren Buffett one of the wealthiest man alive. Use this rule whenever you think of finances or in making financial decisions. Remember : The velocity of money matters !

Choosing a Business Partner : Essential Pointers

Having a good business partner is essential and integral to the success of a business. I have been fortunate enough to experience running different businesses with different business partners. Choose the wrong business partner, and get ready to face hell ! Choose the right one, and you are half-way on the path to success.

Some of the criteria I look for in a business partner :

1) Somebody who shares Your Values, Entrepreneurial Spirit, and Vision

- this one is absolutely important. otherwise you might end up really frustrated and become the only one doing all the work and thinking.

2) Somebody who practices Good Personal and Business Ethics

- again, I prefer not to work with someone who is dishonest or someone who is comfortable with breaking the law.

3) Choose a Partner who is Financially Stable

- "partner, can I use some money from the business. I'm running short of cash ..."  No, No, Noooo !

4) Someone who treasures Respect

- goes without saying ....

5) Someone who may offer credibility, skills or additional resources to the business

- ahhh, this certainly helps ....
- just like getting a Hairdresser involved in a Saloon business or a chef in a restaurant business or a pilot in an airline business or a nephrologist in the set-up of a haemodialysis facility.

Virgin buys Pluto

The latest news is that Sir Richard Branson of Virgin Group has bought Pluto and plans to restore its mass and eventually it's status as a planet.

Mindboggling ....!!