Ryan Ho's Entrepreneurship Blog

Behind my thoughts and processes on becoming an entrepreneur

April-28-10

Package

posted by ryan

Package is a bundle of something usually in small or medium size packed or wrapped in a parcel for delivery. It can also stands for a completed product or fully operational system that is ready to be sold to the clients from the manufacturers to the retail outlets before landing onto the end users.

There are numerous packages bundled up with various business products and services. Package is no longer the same old parcel sent among people via postage. It has now evolved into a whole new package for business, offering a full package by definition is to provide a head to toe one stop solution to the users with any related services that the end user or client will require in attempt to capture and gain the trust and loyalty of a valuable customer encouraging them to return back for their services.

Bundle of services, products of various mediums can be found anywhere and everywhere, big or small there are lots of examples.

Small businesses offer a package in the form of a convenience store also known as “mama shop” in the past which has since largely replaced by convenience stores such as Cheers and 7Eleven franchise outlets offering a one stop retail outlet for general products which we need on daily basis.

Big businesses will provide similar bundle packed services like in a hotel, there are housekeeping, business conference room, social hall, meeting, training room, restaurants, accommodation, swimming and other related facilities to ensure that the customer is satisfied with the range of products and services offered for maximal customer satisfaction.

However, it is not always this way, at times, there will be instances whereby due to some minor error or miscommunication which cause the break in delivering a complete package of services and products due to short of manpower or ill-trained service providers/employees thus resulting in a complaint or silent dissatisfaction causing the client to be a one time client only.

Examples such as in-complete service are as follows: Failure to fulfill services it promised as per advertised (Goldman in the fraud case), trying to cut corners by reducing business expenses with inferior quality product replacements (Toyota acceleration problem)  or in worse case situation, totally omitting a crucial section of the package only to have the client finding out when he/she opens the package up once it is delivered to the end-user (spa business sudden closure without refund/providing services as promised).

Whatever we do, in personal, among friends or with business, it is all about packaging, a package that you offer and sell yourself to your friends, and business partners which are tied up with your creditability, reputation or past track record, branding, efficiency and productivity along with other factors involved. It comes in a package..

Failure to provide a full package will result in loses of reputation and your own brand will be killed in a instant. It is hard to build a brand, but it is extremely simple to tarnish or ruin a brand over night.

Proceed with extreme caution. It determines your success or failure, rich or poor and it depends on what we do in business not only for ourselves but also for the business.

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April-4-10

Secrets

posted by ryan

Secrets are confidential information which was not meant to be shared and be kept within the knowledge and circle among the parties involved only.

Everybody has secrets and it covers a lot of different areas be it health, business or relationship, depending on the impact in an event which should a secret leaks out, what impact of damage will it reflect on individuals, families and businesses thus in the higher middle income to rich and affluent families often have a price tag to every secrets.

How much secrets can a person keep, and how long did the secret last before leaking or is it always safe with the person? There are many factors which everybody can test and sound out on anybody to find a trustworthy person.

The ability to safeguard a secret is c direct and straightforward reflection of an individual on his or her integrity, honesty, creditability and reputation of himself/herself. The better you are at safeguard secrets, the more money and wealth you will receive at the end of the day.

Look at Tiger Woods, reports have mention that his inner circle of friends even help him cover out his scandal and offered to pay the ladies in some previous reports to keep it under the table and from the public media. On the other side, we have the ladies who cannot wait to spill the beans to a short term fame and money for their one-time income for selling their story to the media.

In business, especially secrets dealing with personal, business, the more you help them safeguard the secrets, the more you will benefit as well on a continuity basis which can be considered reciprocal and passive income source.

Before the fall of Tiger Woods scandal, the golf industry was seeing their business media attention and viewership increasing, shortly after the scandal broke free, golf related businesses and individual professional golfers experience a dip in their wallets and in the accounts for individuals and businesses.

The ladies on the other side could enjoy the benefits of being treated like a queen if they keep it under the tabs but they choose not to for unknown reasons which does not make logical sense to me, emotions got the better of them. Committing a suicidal step to their reputation and personal creditability, telling all others potential business partners and friends that “don’t ever let me know your secrets or you will see your reputation, effort and business go down the drain”, in short it is equivalent to telling them do not hire me if you identify me as a secret spiller.

By being a secret spiller, it has not long term benefits at all and it will follow that person till they rest in peace and in some instances, it brings and spills over to the next generation making live more difficult for their kids and family even after their dismissal. Refer to Adolf Hitler and Benard Madoff; read related articles and reports how they people do not want to be associated with such people. That is what I think and after reading lots of similar business related books which support certain parts of what I have written above.

Ladies always wanted to be treated equally, but do they really mean what they say? I’m not against women; in fact I’m supportive of ladies as a matter of fact, more towards women than to ladies for their supportive role and they mean what they say unlike ladies who are still not yet mentally mature and able to take up responsibilities for their own actions.

There are many ways to earn money and keeping secrets is definitely one of the best ways to increase your own network, by being able to keep our own mouth zipped up.

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January-31-10

Trust

posted by ryan

Trust is the emotional creditability which everyone has used on everything and anything in our daily lives, from buying a product from a reputable food store to buying clothes from well known brands offering products suitable to respective individuals.

Trust is also used in relationships, family bonding, education etc. Trust is formed when an individual has shown and proof that him/herself can be replied on with responsibilities. It is the integrity and confidence which someone might have on the other person.

It is not easy to build trust but it is simple to build trust. The way which it works is simple, if you abuse the trust, never ever again will others trust you regardless of what you do. That is how successful businessmen emphasis in entrusting their business partners with projects and businesses.

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