How Much Money I Need to Start a Translation Business?

How much money I need to start a translation business?

Successful translation businesses generate a lot of revenues and hence, profits. They continue to grow. Success comes upon success.

Sure, everything is so well planned from beginning. The office location search, premise set up, team creation, marketing lay out, so on and so forth. All these translate into money and costs.

You sit down and figure, starting a translation business will require considerable financial investment. We’re talking about the kind of money you don’t have in your own tabung or piggy bank. And the real banks out there are too stingy and too skeptical to loan you some start-up capital.

So does this kind of business really require a lot of money?

Not necessarily so. When we look at successful businesses, we tend to think they were able to attain that status because they began by pouring a lot of cash. If we study carefully, multi-billion dollar businesses such as Apple, Microsoft and even Facebook started with little money and initially operated either from the back of the house or in the college dormitory. These companies generated bigger capital as they achieved smaller goals, and eventually managed to raised millions in investment.

In other words, don’t play the big money game like those with deep pockets. At least, not yet. Of course, with limited budget, there are just too many limitations that may hinder your growth and success. However, the good thing about starting with small money is that, you keep the risk within control. With the right strategy, your business will grow, and will continue to do so, albeit at slower pace. The important thing is to generate positive cash flow.

If you read the article, How to Start a Home Based Translation Business, you will understand that a translation business can easily and conveniently created from your own place, running at your own convenient time. You will save the hustle bustle of paying the deposits, rent, utility bills, worker’s salary, local council fees and whatnot. It saves money, and minimizes your risk.

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How to be a Successful Entrepreneur Like Tony Fernandes

The name Tony Fernandes certainly needs no introduction. Now a Datuk Seri and often synonym with Malaysia’s most successful aviation company, AirAsia, Tony is credited with his maverick effort in turning a failure-bound government linked airline into a multi-billion dollar, worldwide known company as we know today.

Earlier this year, Tony was named as the Masterclass Global CEO of the Year at the Malaysia Business Leadership Award 2010, one of the many accolades he has received along his journey in the world of entrepreneurship. In 2007, Forbes named Tony Fernandes as the 24th richest man in Malaysia with an estimate net worth of US$230 million.

What makes Tony Fernandes a very successful entrepreneur, and how can we people learn a thing or two about some things that make him tick? Let’s see some of the key points.

1. Be a high Flyer

Long before his serious entrepreneurship venture, Tony had already had a very successful career with his employers he worked for. Upon his graduation from the London School of Economics (LSE), Tony was hired as a financial auditor for Virgin Atlantic, before taking a job as the financial controller for Virgin Record. Richard Branson was his boss.

Later Tony returned to Malaysia to work with another music company, Warner Music. He was a young and promising young executive who was considered an invaluable asset to his company. By the time he was 27, Tony Fernandes achieved what an ordinary 27-year old chap would not do – holding a position as the Managing Director – the youngest MD for the company.

Realizing that he is someone who can excel at every challenge and catch everything thrown at him, Tony needed new challenges. He knew taking over AirAsia, alongside with its debts amounting to RM40 million, would be seemed as crazy. But this is the thing that pumped up his adrenaline.

2. Dream big

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How to Start a Clothing Business

How to start a clothing business, the easy guide explained

Starting a business?

But what kind of business suitable for me?

There are many types of businesses for you to start with. Clothing is just one of the many options out there. It is in fact, one of the most popular businesses which have been around for centuries. Great passion, backed with all the right ingredients and strategy can make your newly launched clothing business grow in no time and you will be richly rewarded with handsome revenues, satisfaction and eventually financial freedom.

But opening a clothing business is not just about finding a premise, dumping your stocks, sitting on the cashier’s seat and begin watching the customers flocking into your shop. It takes much more than that. Certainly, there are quite a number of ‘pre-work’ you will have to do before embarking on this serious business.

What kind of clothing business?

What kind of clothing business you intend to open? Clothing items can be really wide and general – just spend some of your time visiting the nearby shopping malls and try to count and categorize the clothing stores over there. You will get some ideas how distinguished the clothing business can be. In case you are starting the business from scratch, consider zooming into some specific category, rather than selling everything imaginable related to the word ‘clothing’.

You can sell women’s clothing, men’s wear, casual wear, modern & urban wear, accessories, fitness clothing, summer clothing and so on. The list is almost endless, but you must be smart enough to determine which one would be suited to your passion and the market.

Paperwork & licenses

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How to Buy a Restaurant

How to buy a restaurant?

For some people, starting a business is the road path to freedom and wealth. But then, it may not always  be the best to start a new business from scratch and grow it. Rather, taking over or buying an existing business can be your smarter move. The article below, as published by The Star, explains quite well about certain aspects you should look into when buying a business, in particular, a restaurant. To put in question, how to buy a restaurant?

To many people, being involved in a business is an appealing thought. This is especially so with a restaurant, where people are walking in and out, and leaving money at the till.

Those not already in a business may be thinking of getting involved in one on top of their present employment. Others may plan to do so when they retire. Some may also be involved in a part-time venture on a small scale.

There may be legal and ethical considerations for a person with a salaried job. An employee is expected to devote his full time and attention to his work, which of course does not necessarily mean just during office hours.

Therefore, it would be a breach on his part to get involved. If his involvement is discovered, he could face consequences such as termination of employment. Even otherwise, the question remains on whether it is morally right to do so.

The legal and ethical considerations would represent an even more serious breach if the person concerned was involved in a business activity, whether directly or indirectly, that was similar to his employer’s business and therefore creating a conflict situation.

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