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Posted by: roslimh on November 17th, 2009

What to do with RM10,000?



Guys, I have been wondering what you will do if someone gives you RM10,000 today? If this RM10,000 is a windfall, what will you do with it? Let me start and I would like you to share your thoughts here.

In this current economy situation, I think I will save the RM10,000. Why? It will surely boost my savings. At a yearly return of 4%, RM10,000 will become RM18,000 in 15 years! Not much but it surely helps. I could use this for my daughter’s education plan in the National Education Savings Scheme (SSPN). Savings of up to RM3,000 in SSPN are also tax-exempted and deposits are guaranteed by the government.

Now I wanna know about your RM10,000. What will you do?


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Posted by: roslimh on November 15th, 2009

Work from Home for 35 PWD draftsmen



Working from home is no longer an illusion. It is a REALITY now. I recently read an interesting news on local dailies, the New Straits Times, on November 08, 2009 with the headlines “35 PWD draftsmen to work from home”. It says that The Works Ministry will go ahead with its pilot project to allow 35 draftsmen from the Public Works Department (PWD) to work from home from January next year. The Works Minister, Datuk Shaziman Abu Mansor, said that the project not only aimed to increase productivity but also to reduce the cost of transport of its staff. Read the full news here<<http://rakan.jkr.gov.my/ups/krtnAkhbar/pdfAkhbar/nst8nov09-a.pdf>>

Also read the working paper on this work from home scheme at PWD.  http://rakan.jkr.gov.my/cpk/usm/documents/HumanResource.doc

draftsman


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Posted by: roslimh on November 12th, 2009

How to Make money using Twitter



Guys, I do not know about you but I was introduced to this awesome system by a friend and without realizing after a small hu-ha about it this afternoon and tonight I made money with it. I am not saying that I am now a millionaire :) but all these while I am tweeting but not in my mind to make money using twitter.

So you think that Twitter is all about social networking and sending messages and updates to friends? Well think again my friend. Twitter is no longer just known as the site and the platform where users can post messages and updates so that friends and acquaintances will know what you are up to. There is a growing use for the site, and this group of users is now using the site as a way to make money. It’s a perfect way now to get free advertising and promote products online including this “Make Money using Twitter” system with twitter. With more then 4 millions Twitter users online, you can’t go wrong with the Guide to Making Money on Twitter as it’s one of the best Twitter systems I have ever seen.

I will not drag you further, if you are interested and wants to start your relationship with the site, then the suggestion is of course to start understanding Twitter and to get your account on the site. And for tips and strategies on how to take advantage of Twitter, then this e-book is the only resource that you can help.

Just check out the amazing results shown @ the website below:

http://www.roslihanip.com/go/moneywithtwitter.html

Here we list three major tips on how you can increase your following on Twitter which is discussed in the guide and discussed in details in the E-book:

    • What you need to do is to follow the updates of the other users online. In order for others to follow you, it’s best that you follow others as well. You can sign up for updates. And remember that when you follow a number of personalities, then you make yourself visible and this can help you gain a following on the site.
    • It is also important that you need to contribute to the site- and you can do that by posting regular updates or tweets to your profile page. Make sure that you post all original posts and updates to your profile page. And if you have a business and you are showcasing your services and products, just make sure that you don’t blatantly advertise your website.
    • And last, you also need to take advantage of the other social media available. This can help your efforts make money using Twitter



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Posted by: roslimh on November 8th, 2009

Saving your way to riches



Hey, hope you get my point yesterday on how to become a full-time freelancer and today I would like to share with you how to become rich! Actually saving is the best way to become rich. According to several surveys in the US, most millionaires are not made by winning the lottery, a brilliant business idea or through inheritance. Most do it the steady way via disciplined savings and investing. But how hard it is to achieve a million this way?

Let’s say you start with nothing in the bank and put away RM1,000 a month. With income increases and bonuses, let’s assume you add to the savings at the rate of 5% a year. After one year, you would be putting away an average of RM1,050 a month. With an average return of 8% per annum, you would hit TM1 million mark in a little under 22 years.

But then, here’s the bad news. In 22 years, your million would be worth about RM340,000, given an inflation rate of 5% per year.

The good news is, given that the assumptions are right, your second million will be much easier to achieve. If the rate of savings remains, the second million would be made in another seven years. The third million, you would make in another  four years. Even if you stop contributing after you reach the first million, the second million would be made in nine years, less than half the time it took to accumulate the first million.

If you had put away RM1,000 a month without increasing your savings, you would go from zero to RM1 million in 26 years and to RM 2 million in 35 years.

So, most of the effort is spent in accumulating that first million. Once you get to that level, the magic of compounding, and the opportunities that will open up to you, will help you get to that second million and third million. They say the rich get richer, and that is really true. :)

Image from http://www.cbpp.org/


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Posted by: roslimh on November 3rd, 2009

Want to be a full-time freelancer?



It has been awhile I did not write about business. Okay today I would like to share this topic to you. It is about freelancing.

What is freelance? Freelancing? or Freelancer? From wikipedia, A freelancer, freelance worker, or freelance is a self-employed person who pursues a profession without a long-term commitment to any particular employer. The term was first used by Sir Walter Scott (1771–1832) in Ivanhoe to describe a “medieval mercenary warrior” or “free-lance“.

Freelancing is the new black. More and more people are braving it alone. It might seem a little strange for one to think about going into freelancing when the economy is bad but it is for this very reason that freelancing is fast expanding. In bad times, many businesses might not have the budget to hire full-time staff, but they are able to hire freelancers to work on projects.

I notice that more prople are going out on their own, whether solo or with a small team. And business knowledge sites like Yahoo! Small Business and Microsoft Small Business have sprung up to offer solutions to freelancers and small businesses. New freelancers, especially those who are fresh out of school or university, need to remember that they are starting a business. Getting work might not be difficult, but running a successful long-term business is a daunting task. Here are a few pointers:

  • Know a little about a lot

Or better yet, know a lot about a lot. First, you need to understand the generalities of running a business, from bookkeeping to taxes, to the laws relating to your industry as well as basic business laws. You need to decide on whether to be a sole proprietor or make your business a partnership or an incorporated entity. This decision directly affects all components of your business, from how you present yourself to your cash flow and taxes. So visit the Companies Commission of Malaysia’s website (Suruhanjaya Syarikat Malaysia) www.ssm.com.my to learn more about the business structures available.

  • Money

I cannot stress enough why you need to get your accounting system straight from the get-go. When I began my company 10 years ago, I filed my receipts according to size. Your accounts need to be in order so that you are able to keep track of how well your business is doing, show (potential) investors how well your business is doing, show the taxman how much you don’t owe him and so on.

The first simple rule here is that there must be documented evidence of all monies going in and out of your business. Keep your receipts filed according to date. Second, ensure that you keep good records of the ins and outs, and do keep tab of recalcitrant or stubborn clients. These are the type of clients or customers who are happy to hire or to buy but are not happy to pay :) - all they need is one small excuse to avoid paying up.

  • Make friends

Make proper use of them. Although the thought of having to socialize might put some of you off, you do need to have a network. And it is always good to cast your net far and wides; you never know whom or what you might need in the future.

You can network in many ways. Armed with a stack of business cards, attend your friend’s gallery, shop opening or go on outings with friends and friends of friends. You can also attend talks or seminars that related to your industry. Another option is network online, in a Yahoo! or Google groups, or social network sites like my space, Hi5, facebook, etc. Do remember, however, to look, listen and attend to others first.

  • Technology

This is something you should master. Almost all businesses have online presence now, while most industries have their directories in digital format. Increasingly, information is being stored or delivered in digital formats. The tech tide will not turn.

While some of us are naturally more inclined or just plain interested in learning what technology has to offer, there are those whose skull tightens and throbs at the word “computer”. Unfortunately, they need to find a cure for this, fast.

On many levels, my business runs entirely from my laptop, with the help of many internet tools. As for my conventional business, we operate from Canada (the principal), our factory (in Skudai, Johore), customer’s plant (Tikam Batu, Kedah) and my marketing office in Subang Jaya, that is why online tools are very important to us. Tools like skype, acrobat reader, google apps, and the many other Web 2.0 applications that become available frequently, are very important. Same goes with my simple online business. The technology is really important and does help mey business to grow to the next level.

When you start harnessing technology, you will find that work becomes much easier. The problem arises at the inception, when you have to learn about what is out there, how they work and then incorporating your preferred solution into your business.

You would face teething problems but once you have got that covered, it’s worthwhile. Reporting to your customers, managing your project and file sharing will be at your fingertips, and usually will not cost you anything.



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Posted by: roslimh on November 2nd, 2009
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