5 Bad Reasons To Rely On Government Business

1. Payment

Late payment has been such a perennial issue that it crops up every time government project is mentioned. While the agreement may clearly indicate the payment cycle to be 30 days, you will probably be surprised to see that no payment is made even after 1 year.

In business, cash is king and if you don’t have any, disaster is just around the corner. Stacks of invoices cannot pay your staff salary; cash can. If the pay is late and you are desperate for cash, what are you going to do? Sue them?

2. Not sustainable

Just like you cannot live forever by exchanging cash for oxygen, you can’t survive solely by contracts from the government. Unfortunately, banking on special status and privilege, many go all out to win the government’s heart, thinking that the green leaves will always stay green.

They thought a 2-year contract can always be renewed and lasts them 10 or 20 years. To them, there is money in the promised land so so why would they work hard and expand their business to the private sector?

3. Drown in complacency

Business solely built with the purpose to serve the government will be up for a harsh reality check. It is probably stupid to think that there are people who set up business just to get business from the government, but apparently they do.

Once a 3-year supply contract worth millions dollar is signed, some go for spending spree and buy their first million dollar home, a Porsche and a yacht, even before receiving payment. When the contract is over, only then they realize they are in deep hole. For some reason, such as political factor, economy downturn and recession, a 5-year long term business can be cut into 1-year, or even less. Is it shocking? No.

4. Not indication of real competency

It has come to realization for those long in the business that the government contracts are not always won by the most competent company which offers the best price and quality. Rather, they are won by those who bend the rules. In a perfect world, the government departments are supposedly manned by transparent, honest and squeaky clean officers and personnel. In reality, many are run like real suckers and end up corrupted worse than the Gotham and Harare cities combined.

5. You be the scapegoat

Government and those with power enjoys playing the goddess and it comes as a little surprise for them not to admit the mistakes on their part when things go wrong. There have been cases where goods, parts and buildings were delivered and built below the standard when they know that the contractors are incapable to deliver the job in the first place.

As a result, you take the blame. After all, they are paying you with the people’s tax money and hence they are answerable to the public. For all you know, you reputation goes up with the smoke, and you probably ended up sued or even thrown into jail.

Good Business to Do in Malaysia? Here are Five

Looking for a good business to do in Malaysia? Here are five of them

To some, Malaysia, just like many other countries out there, is a land of opportunity. Surely, there will be a good business to do in Malaysia. To others, it’s just a bad economy.

The former would brainstorm ideas on what business to start. The latter, on the other hand, choose to lament how bad the country is and keep telling others that all businesses are destined for eventual failure.

Whatever you want to feel, the choice is yours.

If you belong to the first, just in case you are still contemplating what you can do to kick off your entrepreneurial journey, perhaps the following business ideas might get the creative juice flowing out of your brain. Rather than mentioning specific business, the ideas are presented by field or industry instead. Look further and look harder, you may find a sparkling diamond.

1. Food

Yes, food. Whether the economy is good or bad, people eat. And they will continue to eat for as long as they need to live. The recipe for success in the F&B business are; one – tasty food; two – start up customer base and three – good service. Regardless how small your initial customer base, serve your good food well and you’re bound for stardom. The same exact recipe brought the likes of Kluang Station all the way to Kuching, Rotiboy from Bukit Mertajam to KLCC, and The Chicken Rice Shop to Europe.

2. Wedding

Having the perfect wedding, with the perfect couple is everyone’s dream. After all, it’s pretty much safe to say that those who got married intended to do only once, no matter how things turn out to be. While there are a number of companies out there which can offer a one stop wedding package solution, many of them started by offering smaller services such as dais arrangement & decoration (pelamin), photography, videography, customized gifts and so on. Choose one and start giving your best shot, there will be more business to come.

3. Agriculture

In a country rich with natural resources, it will be a shame if no advantage is taken. For the past decade, the government has allocated billions of fund for those who aspire to embark on a business in agriculture but are financially challenged to do so. If that’s not enough, there are many courses around that will train entrepreneurs to make a kick start. There are many stories of young graduates who found it difficult to find job but make their first thousands by breeding catfish and goats, or growing chillies and corns.

4. E-Commerce/Internet

While the internet and e-commerce is making a big wave in the global front, Malaysia is still relatively considered an untapped market. Only a handful of players are making it big here, such as Air Asia, eBay, MPH, Lelong and Mobile88. The rest of them are either surviving or dying. There are also a number of local internet marketers in Malaysia today who are emerging with their own created digital and physical products, so certainly, the future looks good.

5. Service

If the manufacturing sector has been dominating the country’s economy for the past decade, now it’s the service turn. The last quarter of 2007 economic report saw the service sector overtaking manufacturing as the number one industry in Malaysia. Some of the service business, such as consulting, training, IT development, translation and writing does not require huge capital investment, and this will prove to be a winning point.

The Advantages of Minding Your Own Business

Getting out of the employment world to strike things out on your own is rather one challenging endeavor. It is also a risky move. Not many people are daring enough to do it.

And out of those who did, only a handful of them achieved what they wanted. Many others would eventually go back to their previous comfort zone.

But minding your own business comes not without its own set of advantages. These advantages are rarely available, if any, if you are employed to work for others.

Here are some of them:

1. You control your own schedule

You can decide how you want to structure your work schedule. Some people perform at their peak during wee hours like 3 o’clock in the morning and if you tell your boss that you want to come at 2am instead of 9am, he might only allow you to do so after you break his jaw.

But since you’re on your own, you devise your own time. Best of all, you can change it as you please to accommodate changes in your need and any rise in emergency.

2. Get rid of bureaucracy, protocol and red tape

If you want to take leave, there is no more need for you to send an email to your boss, submit the application leave form and find someone to cover for your duty. By having your own business, you apply leave to yourself, and you approve it on your own. No forms to sign. No boss to beg.

Similarly, no one would want to condemn, charge or discipline you if you decide to come in to your office with a Hawaiian shirt, a sarong and a pair of sandals.

3. No one wants to reject your good proposal

Sometimes, when you work with people, you feel that you have come out with a brilliant idea to save the company’s expenses. Or better, you find a new niche that can potentially multiply the company’s profits in 2 years time. You propose to your management with full of enthusiasm. In the end, they don’t buy it.

“Too risky.”

“Taking too much time.”

“We don’t have the resources.”

Those are some of their excuses.

But with your own business, you don’t have to go through all that. In fact, you can approve your own proposal while you’re brushing your teeth in the morning. And before you know it, your plan is already being implemented while you are having your toasted bread during the breakfast, barely one hour after you finished your shower.

4. Your income may hit the roof

As a full time employee, your are guaranteed a fixed monthly income but your earning is pretty much linear. Whether you work 40 hours per week or 60 hours per week will not bring much difference. If you earn RM3,000 on March working as an Account Executive, in logic there is no possibility for you to be paid RM10,000 by the same company on April, working in the same job.

Even if your job comes with the sales based commission structure, there’s no guarantee you can bring more sales by spending more hours.

Being on your own, on the other hand, can make a whole lot of difference. By making adjustment here and there, you can possibly revolutionize the results, and in turn, your income can simply hit the roof. Practically, the sky will be your limit. Today you may earn RM1,000 but next month you may find yourself RM10,000 richer.

5. You’re creating assets for passive income

If done right, what you do in the present can become an invaluable asset which can pour you passive income for generations to come in the future. Today you probably wrote 1 or 2 pages of articles. In the next 6 months, you realize that your articles can now be compiled into a published book, which will give you royalty for as long as the book is in the book store shelves.

Also, your small, unknown company today may potentially become one of the major players in your industry in 6 years time. You have, by then taken a virtually a non-existing entity into becoming a powerful and respected brand. The brand can now be leverage for yet more successful ventures.

And if one day a giant corporation decides to buy your company, your ambition to embark on a world tour will materialize faster than you can imagine.

JomMakan Opens in London

JomMakan, the first restaurant under the MalaysiaKitchen QSR (Quick Service Restaurant), opened its second international outlet in London, last month.

The first JomMakan outlet made its debut in Tokyo, a year ago, and is currently doing well. The food chain is operated by JomMalaysia, a wholly owned entity of Perbadanan Nasional Berhad (PNS).

JomMalaysia plans to enter United States, Australia, German, Sweden and Middle East soon, through partnership and franchising program.

At JomMakan, customers can find a wide range of authentic Malaysian cuisine, including dishes, drinks and desserts. Roti canai, teh tarik, mee goreng mamak, nasi goreng kampung, laksa, kuih muih and other delicacies are ready to capture the heart of Londoners and other foreigners alike. JomMakan operates through an open kitchen concept, where customers can actually see their food being prepared and served hot.

Apart from the dining in service, the company also provides catering services to public and private events, complete with design, art and multimedia facilities. The strategic location of the JomMakan outlet, which has close proximity to major landmarks including the Trafalgar Square, Chinatown, Piccadilly Circus, Leicester Square and so on will also become a promotional tool that are set to spur Malaysia tourism industry.

To grow the operation further, the company provides franchising opportunities for aspiring entrepreneurs, both local and foreign, who are considering venturing into food business, particularly in overseas.