Ryan Ho's Entrepreneurship Blog

I believe majority of the successful individuals out there are always looking for the checklist and formula but over the years, i realize from over the years of searching for the answer, it is actually very simple, yet most people would avoid it at all cost. There are just some times when you give it your best but still fail to meet the grade.

To succeed, is to first learn to fail, not only faster, but numerous more times than what the majority have not gone.

By doing so, it is actually doing ourselves a service, to take a shortcut and fast-forward towards success, and avoid banging into the same walls and repeat the mistakes which new business owners, and start-ups will face.

Failures is the success package that is only being wrapped up with newspapers instead of beautiful gift wrapping paper.

Success with failures alone is not sufficient, the individual must be able to learn, reflect, and ensure there’s no repeat of the same mistakes, thus increasing the probability of success.

You’ll need to have quality gift being as the main ingredient that will guarantee your success, that is experience, and an eagle’s eye for details. The ability to identify potential trouble makers even before they show any signs by simply testing them, and making observations.

There are a few list of factors that which I’ve realized that success really does require third party or external help in order to process the gift to be of value to be appreciated by the recipient.

The help is not physical help, but rather in a form of experience, exposure, being placed in a difficult situation, and building a portfolio leveraging on a stronger brand initially until the personal branding and reputation is recognized by the related industry players before coming out on your own.

As i gradually am being tasked to help the company filter and identify quality service providers to increase the efficiency of the business, I realized something that I never once know nor even read in any books, but did watch and picked up in movies.

“It is not who you are that matters, it is who you represents that matters!”

By representing the business, the trust, creditability and financial ability are than being placed on the business representative, thus a nobody can instantly become a somebody due to a company employed individual, than when the company’s name is mentioned, the trust is immediately shifted to me, the representative, than a person becomes of value.

That is something that will never happen in a hardcore one-man-show type of entrepreneur example, and they will take a longer time to succeed, as they build on the trust, reputation from nothing.

It takes at least three to five years to build and grow reputation for a already successful business to be even successful, whereas it takes close to ten years for a individual to be successful, as a person build everything up from nothing.

Learning to leverage on a strong company with proper branding, credentials is an important skill, you don’t need to work for the business to leverage as joint venture or having them as your client works equally well if not better. So if you have nothing, start finding a company whom will offer you that positive leverage.

Exposure to more competitive market, under pressure to deliver results, combined with limited resources will really stretch an individual in a positive way towards success. Something that I currently am being placed in such a situation, or risk losing the job confirmation, at least that’s the way i am reading the danger signs from the instructions given to me to carry out the work.

Being exposed to competition is similar to the process of creating a gem, that requires high pressure in confined space to create a raw gem stone, following which, requires precise polishing that requires a skilled and trained individual to do so.

Limited resources forces a person to put on their thinking cap, thinking out of the box, and use any closest possible solution to address the problem first. During this process, it is a gradual appreciation and change in the way individuals do things, in terms of principles and perspective change towards the better and gets a person to see things from another perspective and get their brain run faster than ever.

With exposure to different landscape and business practices to meet expectations and delivery dates, it forces a person to level up and change gear to move faster or risk elimination. This is something that being a self-employed one-man-show entrepreneur, can never experience due to no competition except for themselves and against the naysayers hoping that they will fail faster so all their friends can celebrate failure together.

Being thrown in different situations will really help shape a person, their experience to be a better person and an informed decision maker. It is required to create the gift to be of value in order to be appreciated. This gift is what most if not all people will admit without any disagreements and that is experience, as it helps provide them from harm’s way.

There are both positive and negative experience, to be successful, it means to learn how to convert every single negative experience and failure in a positive learning experience to face the same problems at attempt to fix the issues at it’s root cause instead of running and avoiding it. That’s the ultimate difference in the successful and the failures.

Failure is not a option. it is a necessity before you can succeed.

Exposure, experience with the proper leverage under pressure with no alternative choice will help propel oneself or a business towards success.

When you feel helpless, than will you grow faster at the next opportunity to grow, thus learning to real truth to make full use of any opportunity that comes to us, thus the success succeed because they understand this perfectly and capitalize on it better then their competitors.

Cherish what you have and milk every single drop out of it.

In a nut-shell: The only competitive advantage a successful business have over their competitors is to be one-step faster than their competitors.

Popularity: 2% [?]

Wealth creation is actually very simple by just following step-by-step instructions, but it is never easily for a start as many people will tell you this.

Over my course of working, following my mentor, I was fortunate to witness the transformation and growth of how a profitable business help shape a millionaire. And from a millionaire, the rate of change at which the transformation was simply much faster than the climb up to the millionaire status.

The speed at which the business and the individual grows is minimally three times faster based on my humble one-sided observation.

What I have noticed during the process is that most people at the start of a journey is the most important step, without the correct mindset, 95 percent of the individuals will immediately drop out of the race after an effective period of 1 month.

Drop out reasons simply due to inability to do exactly as what they are told to do. In short- it is doing nothing.

Out of the remaining 5 percent, 3 percent will drop out after the third month. The last 2 percent, will have their success and failure confirmed after the 1st year of trying to do follow through what is taught and doing exactly as what they are told to do so. 1 percent out of the 2 percent will succeed either with profit or results, while the other 1 percent will again be eliminated due to failure to find their own compass, a direction whereby they know what to do, how to profit, and when to grow and multiply the profit accordingly.

Drop out reasons for the last 4 percent over the period of 1st year is simply due to greed, trying to follow and adopt multiple sources of income by signing up with more courses without even succeeding in any of the course yet and moving onto the next course, resulting in lost of focus, when there are many options for them to choose from.

The last 1 percent who made it pass the 1st year is than constantly tested and judged by on the ability to continue doing what they have being doing at least for a minimum period of 3 to 5 years without being losing focus.

What happens during the 2nd to the 5th year is the observation from potential investors, future business partners from far aside to judge if the person/entity is up to the standard of claiming to do what they peaches.

Consistency is being tested, ability to execute and deliver results is also being observed. Financial accounts of the state of both the individual (business owner), the entity as well as any employees and customers testimonials and reviews are being looked into and factored in as a consideration. Integrity, credentials, ability to defend and expand their own social sphere of influence are also being factored into.

It is only after the 5th year, that reputation has being established with deep roots (only applicable in the situation where financially sound entity).  During the 4th – 5th year, it is the networking, public relationship, bonding, and value, benefit exchange that is the focus, and being worked on, going to other businesses, helping each other grow, and sharing the money sources from the same pool of client database.

By sharing the money source, than are they able to tap onto each others database of qualified clients therefore increasing their sales closing by speaking to the right people with deep wallets.

Yes they do share their resources, as these type of qualified clients are more than willing to pay the following month, so that means the clients funds will never be exhausted. Unlike the poor where they keep all the secrets and money to themselves, thus their wealth can never out-grow that of a wealthy individual who has worked with other successful individuals.

In the absence of financial results, what’s left is respect with a strong aura surrounded with fear. For attempting to challenge a tested proven candidate will leave any newbies challengers worn out and reputation lost over their arrogance and inability to protect and proof their claims to validate with facts. (This comes not from theory but from actual experience of fending off a direct selling forum [under same user name for past 6 years] that i successfully eliminated every single one of the users who posted false, misleading, confusing information in attempt to source for leads.)

Now, even as i leave the forum to let newbies start their own threads without me posting inside the hard truth, leaving rooms for them to learn on their own, the other users are already smart and educated enough to even ignore the new threads knowingly that my thread is the only tested and proven source of information that they can trust with examples of facts to back my claims.

Moving on, and continuing on the 95% failure mentioned earlier, there are tons of reasons why the casualty rate is that high, due to the majority poor, but highly influence factor that clouds, and sway the shaky individual back to the tested to fail model of study hard and work hard model, only to complain later when they grow older “if only I had a choice back than” those type of excuse to save their pride and ego in front of the younger kids and like-minded friends.

The reason causing the extremely high failure has its roots deep rooted from birth, it’s part of our genes to copy, and indeed majority of all man-kind copied, copying the majority, seeing, listening, and doing exactly what they are doing. Thus the majority are poor, and the minority are rich, insanely rich based on the top 20 percent of the population of each respective countries.

To start generating wealth, first all of us have to break away from our genetic system, copying the majority, and start following the minority of individuals with tested proven successful model without even question nor even think. Just do as you are told first, get results than ask later, only when you start making money, than allocate a little portion out to test models that previously you wanted but rejected by your mentors and coaches, than will you thank them for rejecting you straight in the face.

The worst ever irony of wealth creation is that while successful millionaires share they secrets openly via workshops and seminars, the poor still think they are smarter and refuse to obey and follow the what is being told.

The rich’s rule is: Follow the money.

The poor’s rule is: Follow the crowd (majority). Thus most remain poor even if they are taught how to succeed. They failed mentally before even they started.

In a nut-shell: Always ask yourself this question when you are in doubt and denial of unable to move on towards doing a route less traveled.

That question is: Majority Rich or Minority Rich.

That answer will be the guide and financial compass to show you the route you should take.

Remember this take away: All of us have a choice to be either rich or poor and whom you listen to.

Popularity: 1% [?]

There is a common saying, failure is the mother of all success.

While many people claim that they know they what failure means, but from the action, and response, it is clear that majority of the individuals do not even know the what the real definition of failure means.

To succeed and win in places where majority of all others have failed, there are a couple of reasons why we all must learn first learn to fail before we succeed.

In business, it is always a route of hardship and it is never easy. Should a individual or business entity always have a smooth journey towards the top, when he/she is faced with a obstacle, than will they understand why it is best to first learn how to fail before winning.

Reason being so is primarily because once the person at the top loses the top position, they will drop all the way downwards to the rock bottom, with no chance of survival. The person or entity at the second position who just took over the first spot, will utilize their own network and connection to block every single opportunity to block a fallen champion from reviving and take back their former glory.

Just look at Tiger Woods, the moment he dropped from his number one spot, to fifth, twentieth position and finally twenty-fifth world ranking than lost his own aura, the fear that most golfers would respect him has literally vanish into thin air. The respect that most golfers had of him gone down the drain, as he is still trying to correct his own swinging style to make improvements and get more birdies, eagle if not hole-in-one hopefully.

While the respect, aura of fear has vanish, the public and the crowd are still following Tiger Woods, as he still possess much more media attention than the other newly crown champions.

From the wife chasing after Woods causing him to get into a car accident, to sex scandals, to knee injuries, all bad times happening one after another, thus causing him to lose momentum, focus and old injury made matter worse..

While most can be prevented, by learning from history, but arrogance has led to his very downfall, and now he is learning to pick up the pieces and learn to be a better man by paying for the consequences in financial compensation to impose a gag order on his wife, his ex sexual partners from talking about it.

This is something that many of us can learn from, is to first fail many times, before we rise all the way to the top, so as not to allow such an incident from happening.

While we still do not know what is the future for Woods himself, all that we can hope for is that he had better find back the old shelf, with the good swing, and learn how to be a better man. It is only that after he apologize, and admit his mistakes, that the crowd is still willing to follow him, giving him a second chance.

Failure is not scary, in fact it is a must go-through experience, only which will it make us a better person. Success is scary, as it creates the illusion of everything is going smoothly, so there’s no contingency plans made, thus it is a long way back up to the top, taking a long time to climb back up.

To win, and attain success, fail first, and fail faster than all other competitors, so in the event competitors fail, we who have already failed, know how to do damage control, minimize the loss to the lowest, and emerge as the winner, just like how the Singapore economy was able to remain competitive and have a stronger currency value and positive outlook when the USA, Europe financial markets are in turmoil.

Thanks to our cabinet ministers and their rich experience of past hardships, experience, and most importantly, learning from history, than are we Singapore able to withstand what many other economies globally are unable to. That is success, and it should be celebrated, but celebrate it in a positive way to serve as a reminder for others not to repeat the same mistakes twice.

In short, to succeed, first you fail. Next if you fail again, learn from your own experience as well as your competitors’ failure and find out why it happened, and turn them into you experience. Next study what causes global failure regarding whatever markets that are connected to our sources of income and come up with back up plans to protect it from the incoming risk.

That should be the reason why failure will only lead us towards success, and not to repeat history to fail again twice in the same area.

Popularity: 9% [?]

The main difference that differentiate the rich from the poor is the way they handle  secrets.

The rich succeed as they know clearly and surely how to keep their lips sealed, and hold onto the confidential information that they know should not be shared or passed around even to their closest next of kin when profits, integrity, reputation is at stake.

By keeping the information to themselves, execute the instructions, get some results first before they filter and share the secret with only individuals who deserve to get a slice of the pie in exchange for something of similar if not better future prospects.

The key point here to note is, information exchange, helping each other to grow richer based on core expertise guidance in respective markets to grow their wealth both ways, thus creating multiple streams of income by letting the experts handle it, and does it without any questions nor doubts.

The poor continuous fail due to the very different approach of how they handle private details that should not be disclosed at any point nor to anybody. They trade in the information in exchange for fake friendship who are just like leaches sucking the blood and taking a free ride without any intention to provide any benefit to the provider.

When information is concerned, the less people knowing it, the better, so there’s more to earn, and the less hands it passed, the more accurate it is, as it reduce the changes of it being misinterpreted. When there are discussions, secrets turn into news, and soon after it becomes a gossip and turns into speculations, and eventually becomes a bet in a form of gambling. Without any form of proper knowledge of handling money, they than blame their inability to control money and push the blame onto the person giving the ‘secret’ to them, and asking them to compensate for their losses, and keep quiet if they do make a profit from their friends.

The difference that makes the poor poorer, is also due to diluted profit sharing, the more the share, the less they get. The more they share, wrong information get passed around, and it may affect the market patterns when it stocks market is concern. They refuse to return anything nor share any other profitable revenues in return, nor do they have anything to offer in return, thus they can never ever grow their money.

Money multiplies in the form of growth, it takes the correct first step to repeat the second step and grow the amount over time with due diligence and not negligence that cause greed, laziness to do homework and depend of quick tips and bet their whole fortune and pay a heavy price of loss and the bitter taste of failure.

The best part of secrecy is that until you earn the rights, it is extremely difficult if not impossible to succeed without any guidance. Start off by learning how to keep information secret to yourself first.

The most important point to note to succeed and make it big in life (shortest possible way) is to pay your way into the secrets. This is the identical strategy adopted by even large companies where they acquire smaller companies just so to get their hands on the trade secrets.

The thumb of rule to success are as follows:

If you got no money, earn it, than spend wisely.

If you got money, buy information and get others to work for you.

Popularity: 2% [?]

In business, it is not always about the money, rather it is the people’s interaction that determines the critical factor if the business succeed or fail ultimately.

Below are a few couple reasons.

1. Business requires cash-flow. Loans are required to keep the operations running until it becomes a profit. To secure a loan, you have to be in the good books of both banks as well as friends whom they trust to extend a zero interest loan.

2. In order to keep the business running smoothly, man power is needed. Without good relationship before employer and employee, equal and fair treatment, most importantly treat them like people and not dogs just obeying orders. Without the basic understanding of how and where to draw the line in treating employees like they expected to respected too in return.

3. In certain niche markets, the employer must hire employees who are smarter and have better prospects than themselves. In such a situation, the employer cannot afford to piss off the employee who is important in helping to grow the business, yet they cannot let the employee climb over their head. It requires some experience in knowing how to control a employee who is smarter than the boss, yet gives the freedom for the employee to do as they want to grow the business.

The catch in between the line here is to allocate a certain monthly budget, for the employee to to burn literally and notify that project starter when the funds will stop should the result fail to meet up reasonable expectations (based on experience).

4. The one man show syndrome. Like any business, especially in a new start up with extremely limited funds, the owner does everything him/herself, juggling between billing, cooking, sourcing for food ingredients in a new retail outlet, multitasking and trying to do everything, yet unable to get anything right, due to minimal concentration thus producing inferior taste (not even up to average standards) and precious future returning clients by giving them negative impression and remarks of the dish.

5. Attempting to sell to the mass for less hoping people will come back for more. This is commonly known no quality business, where the plan is to sell cheap, hopefully can earn based on bulk sales, but due to price point, the business is forced to sell low end cheap products to customers, and if the products becomes spoiled, than the business suffers in the long term.

Before the bulk sales can see profits due to recommendations, the entity is debt ridden due to massive overheads and it soon close the shutters permanently.

6. Excellent products that is constantly in hot demand, yet the business is not making any money, despite other business operators selling the same products and are reaping buckets of profits.

In such a situation, it could only be due to poor salesmanship, unsatisfactory customer services, arrogant hard-selling tactics, without first understanding what the products they are selling is all about, nor who are the customers they should be targeting to grow the business.

There are many other reasons contributing to failure in business, but the life support essential to succeed is to first learn to befriend your products, treat clients as friends, treat business partners like how you treat your family, protecting their interests at your own expense. Look after the people and they will help look after the business.

Popularity: 1% [?]

To determine and analyze if a new business can succeed or fail depends on the entry levels of the entity which it enters and exits respectively.

Majority of the businesses start small and expand accordingly based on their profitability. Only a couple of large scale business entities are able to start a new company on a large scale with a huge financial budgets.

Most aspiring entrepreneurs often fail even before they could even get a foot-hold and have the business steady and running.

There are a couple of entry levels that clearly demonstrates if the business will succeed or fail based on the entry in the short term perspective if the business owner doesn’t change strategy.

I hope this entry helps individuals in determine the level of start ups they are able to start, and come up with the necessary strategies required to take the business to the next higher level.

Size of financial ability determines probability of success, and most successful enterprises often acquire other businesses to get a head-start.

Level One

It is what many new business owners start and fail in, the term used is a start up. Before the business can even start operation (like a plane unable to start) the business face a couple of difficult problems in preventing the entity from even moving forward. Critical problem such as financial is the main concern restricting the even the growth.

This is often a one-man-show (OMS) business where the owner does anything and everything, left on their own to prove their worth.

Level Two

Start up business owner has minimal capital and him/herself to ensure the business is even able to continue operation into the first year period. Having to pay for products, services delivery fees, rental and their personal expenses. Funds are depleted much faster than predicted and the business close its shutters permanently having to repay their loans with installments, keeping them away from re-entering the business arena.

Also considered a one-man-show operation, but at times, they may only be able to hire another part time assistant to help out with the business. Future is not guaranteed.

Level Three

Business has no issues with funding, able to meet estimated business expenses for at least three to five years of operations. The only issue is the inability to hire talents, and grow the business, reasons could be due to poor employment guidelines, no proper appraisal, employees feel unhappy and dejected in the employee in particular with the superiors inclusive of a destructive boss limiting the employees to release their potential and talents to their fullest.

This is what many employees may use as a learning platform to gain the experience they need to run a new company before going to a better company to help grow the business.

As for the business owner, he/she will take the experience as a tuition fee and gain experience to recoup more funds for another shot in the business.

Level Four

Entity has got no issues with both manpower and financial funding from investors, but the both the head and in-charge pays well, lets temporary succeed clouds their vision and take matters into their own hands refusing to listen to advices from the very talents they recruited and soon find business sliding down gradually until it is at risk of elimination from competitors who are hot on their heels.

An example of such a business will be the Blackberry who are facing intense and much stronger competitors such as andriod – HTC and iphone – Apple. Talents all flock to bigger enterprises,  leaving the business in lurch, as Blackberry mobile apps have stopped development and is only on a demand supported basis, unlike bigger competitors who still have developers willing to create apps to create and spur new demand for the mobile phones with larger market shares.

Level Five

Enterprise has generally no problems dealing with both financial and manpower issues, but what’s left are those surround business expansion both locally and globally, low connections of important networks and help from experts in different fields to aid the growth of the enterprise to a higher level.

An example is how many overseas companies wanting to have a slice in the China market, Linkedin, Google having much difficulty penetrating market due to lack of local connections and poor support from the locals.

Level Six

The enterprise has got no problems nor difficulty in all aspects, pulling resources, funds, networks, and creditability based on excellent remuneration where talents are given room for flex their muscles and funds to even fail in order to come up with the next big thing both from internal and external sources by buying over potential businesses limited by funding issues.

Bill Gates is the only business for Microsoft to date that has no problems doing business in both Eastern and Western nations.

Popularity: 1% [?]

There are over six billions of people all over the world in different countries who wants to be successful and get rich, never to worry about their three meals a day for themselves and their family at least, but majority of the population all failed in achieving what they wanted.

The picture speaks for itself, as poor individuals dream and think about getting rich and successful, their first obstacle is always about money, and money woes such as loans, repayments, mortgage, forced liquidation issues surface shortly after and the business venture, or project faces lack of funds and folds itself.

There are some basic money management principles that at least eighty-percent of the individuals do not even understand, thus they always take a fall and get in a much worse condition than they had started.

Below are some simple principles that majority purposely turn their backs to, refusing to accept facts thus they never get rich permanently.

1. Money is nothing, it is just a tool. (Do not ever fall in love with money)

2. Money cannot buy relationships, creditability, trustworthiness, reputation, bonding, respect and happiness. These are intangible assets that money can never buy. (If you ever ignore this, you will never succeed)

3. Money cannot guarantee anyone success, but it sure can guarantee failures if not managed properly, just turn to annual business bankruptcy statistics if you ever need one.

4. Money management skills must be learned and put to the right use, thus allowing the person to grow and multiply wealth buckets of money positively. You do not need even a diploma, just a simple basic accounting or financial knowledge from O levels, if not minimally always ensure there are more profits than the amount of losses (expenses incurred). Such is the success formula at its simplest understanding.

5. Money is nothing more than an indicator of an individual if they are doing the correct things when it comes to money management. Business entities, top Forbes billionaires like Warren Buffett, Bill Gates gives money away to charity but find that they can never ever give out the money they have. That is a reflection of individuals doing the right things, and we should follow such examples so we can one day be like them.

6. Money is nothing more than a catalyst to speed up certain relationships and foster good relationship, with time, building trust, creditability, reputation based on the networks, connections of influential individuals and business partners to get things done right, smoothly and faster than the others. The first person or entity who correctly completes the task gets the reward.

7. Money is just a result, and consequence of doing all the right things, like having the right formula by mixing the right ingredients in a laboratory to come up with a specific predicted result.

8. To make money, it is always about the process, and not the results.

The rich and successful individuals, businesses always focus and are willing to recruit talents who have failed multiple times, people with such experience have the answers to the right formula, the results of a certain position in any particular niche reflects the truth, and that is why talents are always in demand, something that is always in with limited supply thus high demand as they have already found a proven formula that works and it is what companies and wealthy individuals are after theoretically speaking, and they are successful only because they question every single detail no matter how small and harmless if may appear on the surface. It is only after they have acquired the best talents than only can they talk and ask for results that they hire for high pay.

The poor on the other hand focus only on the results and not on the process, thus it puts them at a huge disadvantage. Because such individuals and entities never know what are the tested, proven formula, they just grab anything and everything that helps them even if it is against the law, that is why scams are everywhere, and many individuals never question how the money is made, so they care only about the immediate gains and not at the long term perspective, which is what the successful individuals are after. That’s why the Madoff investment scandal affected many large successful enterprises too as well.

Stick to the eight principles of basic money management and you will find the path towards making money and multiplying your buckets of wealth with ease.

Popularity: 2% [?]

Employment to many people is like a thorn in the flesh, having to report to work, doing things that they do not enjoy, and that is exactly what is happening to majority of the people globally.

Only those who really enjoy their job, are able to out perform and work in areas beyond their designated job scopes, such gives them an edge not only in preparation for the vacancy when the time comes, but also gearing up oneself in terms of being prepared and not get caught off guard when the promotion is announced,  not knowing what to do, and fail to perform in the worse situation and get replaced shortly after.

There are a couple of reasons why being employed is actually better and it helps support not only a person but a family to have a better standard of living.

1: Having a fixed working hours allows the employee/individual to better plan and manage their time after working hours.

2: Being employed means there is a stable income, required as a criteria for an entrepreneur, where funds, capital and cash flow means everything to the business, without it, the business cannot even start, it is like a vehicle without any fuel.

3: By being employed, keeping our minds active, keeping updates to market changes, economic impacts on our lives, it keeps our minds vigilant, may help eliminate depression which actually started due to the patient having too much time to waste and end up thinking about imaginary harmful thoughts that are not beneficial to oneself but also affects their immediate family members having to take turns to look after the patient.

4: Be employed, gives us at least an helpful environment whereby we can identify potential friends, business partners to talk with. As they know what is happening, and so more likely they will understand, and have something in common to chat, this saves the trouble of finding soul-mates or buddies from complete strangers online who may have ill motives posing as a danger to ourselves.

5: A salary is not just helpful to a person, but it allows an individual to support a family and start a family on their own with proper financial planning.

6: It is strongly recommended for individuals who are clueless on their future prospects, at least by following the company’s foot-steps alining in the same direction, they can progress together with the company and earn higher salary if we prove our worth.

7: Certain companies may have excellent staff benefits that includes traveling package as a reward to employees for their hard work,  so this again helps singles who may want to go on a holiday but without any financial abilities to experience different countries, tourist attractions first before they determine if they want to come back again with their family and friends. All done so from company’s pocket, that’s market testing, an excellent way to save money.

8: During the process of employment, it prepares oneself for entrepreneurship from an employee’s perspective, so in future, should they really decide to go solo, they know what policies to implement, and what not to, so as to maintain a happy working environment that only helps the business to grow faster and recruit talented individuals who understand and value the importance of a happy conducive working environment is hard to come by, something like spotting a needle in the deep blue sea. (Nonetheless, it depends on respective individuals passion and interest for different job scopes)

9: It allows aspiring business owners to model after a proven tested working model and implement it in their new business if they existing company refuse to even listen to employees feedback. (The case of why business fail and employees turn competitors; actually it’s being forced to, as employees enjoy doing what they love, but are being denied the room for growth and experimentation, some business owners just don’t get it and they never will)

10: As employees, we are always exposed to many different types of people from all walks of live, and it helps in allowing us to learn and test different methods to deal with customers who may be a difficult client, which adds up to the value creation for both the business, and the employee in company and personal development.

If you are not employed, yet, start looking, but be very patient and keep on searching until you find the right environment that gives you the room for exploring and experimentation.

We can actually be successful by being an employee, but only if the environment is right with minimal office politics and helpful team members with open discussion practices.

If you are wondering why many businesses never grow bigger than they can or may even have failed, the best place to find answers will be in your employment where you learn from the company’s mistakes and make sure you do not repeat them in your own business in future by simply reducing the amount of complaints and unhappiness in the office. If you do not want to be a failure in life, be employed, at least you get to learn something and it may be helpful in the future.

Popularity: 3% [?]

Risk management is to identify, assess and prioritize risk (both positive and negative) followed by coordination of risk in keeping the damage to the lowest possible if it comes as negative, and maximizing opportunities should it be positive to the business or in any event or projects.

In business, there are a couple of ways where a business entity can minimize their business risk. Via modelling after what other industry best practices are doing. Below are a few time tested, proven by large multi national corporations all over the world, used by banks, financial, property and even politicians.

First: Diversification: Spread out the risk, and reduce your own entity’s or individual risk on your name. >> Financial bankers, consultants always recommend clients to buy multiple types of investment products, so that in the event should a particular market collapse, the client still have other positive markets not tied nor linked to the troublesome market, thus able to still collect positive returns on investments.

Second: Using other people’s money: Heavily used by property developers, business owners seeking investors, and franchise business model. This way, the individual has got no fear of failure, with such mindset, he/she will be able to concentrate on what works and profits the growth of the business, and big businesses really encourage such practice.

Third: Deal and transact with only low if not zero risk clients. That is why insurance companies make lots of money, and they reject non-healthy clients with pre-existing illness that will cause a dent in their profitability. Supported and strongly encouraged by government globally due to high taxes from such entities.

Fourth: Liability Protection: Every single profitable business in the world have their own respective terms and conditions, clauses for clients to agree first before engaging their services, so as to state clearly only certain type of risks will be taken responsible, and not for individual clients actions should they try to outsmart the system by taking actions in their own hands, and push responsibility to the business.

Fifth: Work with only well-behaved clients and business partners who would give them long term business and sales. Which is why businesses also have their own private black-listed clients and business contacts list, and they ask for feedback from each other, so as to protect themselves from any potential harm. Identical to the ideology of parents do not want their kids to be anywhere near if not hanging out with bad company.

Sixth: Identify a place, environment whereby you can repeatedly fail without worries that you can never ever stand on your feet again. So that when you fall down, you can still stand back on your feet, walk away without any serious injury. In other words, it means, learn to fail with only resources that you can afford to fail without putting yourself in deep trouble that will put you out of business permanently.

Cost of failure in internet allows individuals to fail anywhere from fifty to thousand times without any serious loss of financial expense. While real life physical business will hurt the owner in a single attempt if their pockets are not deep enough as it cost at least a quarter of a million to be considered having test and run a real business with an outlet and the proper tools, equipment, staffs and rental all factored in with other considerations too.

Seventh: Hire a expert, or consultant to monitor your trial and error process, so that you know what went wrong, and how to correct it, the last thing entrepreneurs want is to keep testing and get no results, no feedback, so even if they found a winning solution, but don’t know what is the formula to eliminate poor practice. Have the expert or consultant to sign a agreement not to copy or use your business secrets in anyway possible unless he works with you, so you know you are well protected and taken care of.

If you are in employment, it is considered one of the safest place whereby individuals can keep on failing without fear of losing their source of income, as they are still paid regularly.

If you are unemployed, allocate and set aside budget for your daily, and monthly expenses, than use remaining available savings, spread out over six months or a couple of years, divide the fund equally and start your business online, this way greatly reducing your expenses yet allowing you to cast a wider presence with the help of internet.

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Business is actually a must learn for everybody these days.

Below are the various reasons:

1. It teach us financial accounting, how to deal with money.

2. Selecting and choosing the right people to befriend, so as not to hang out with bad company.

3. Learning prioritizing, differentiating the important tasks from the unproductive, low importance tasks. >> Helps in determine which ones makes us $

4. Forces us to value integrity, honesty vital to any business if we want to make profits >> Shaping a better person

5. Good planning. Helps individuals involved to think long-term, plan ahead and having back-up plans in case the first plan fails you.

6. Happiness >> If we succeed, we share the success by spreading happiness to the people around us, that said, more quality time will be spend with family, friends and love ones, against those employees working over time, making ends meets and still in difficulty.

7. Protection. By which, you learn over time, how to protect yourself, your entity, reputation, products, services from being badmouth, information patent rights, what you should earn, you fight for it. Something that not many adults and parents will teach their kids, yet it is a must learn for those who engage in business regardless of what their markets are.

i am still in the process of learning, continuous upgrading is the only way up. If you want to climb up the ranks, start learning more about business.

Business don’t fail. People fail.

Success is not guaranteed, but without learning guarantees failure.

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