ARE YOU READYTO HAVE YOUR OWN

BUSINESSBy :

Joyce LimCertified Financial Planner

www.joycelim.netjoycelim@joycelim.net

25 June 2011Organized by Simply Empowering EnterpriseAll Rights

Reserved

THE BEGINNING…off to a great start….

EVERYONE WAS GIVEN A CHANCE TO SHARE WHAT THEY DO

INTRODUCTION BY PARTICIPANTS

YOU

EMOTION

MENTAL

$$$$$

BUSINESS

KEY AREAS COVERED

Briefly….

BUSINESS Who, What, When & How

$$$$$ $$ in business & in personal life

Briefly….

MENTAL Attitude & Behavior

EMOTIONHow it affects you

YOU

Briefly….

YOU

What role you play….

What are your habitual thoughts….

BUSINESS SET UP- ORGANIZATION CHART

OWNER

CEO/MD

SALES & MARKETING

SALES PERSONEL

OPERATION & ADMIN

ASSISTANT

FINANCE & ACCOUNTIN

G

ASSISTANT

Organization Chart - Do I need

one?Which ‘hat’

are you wearing ?

Even if I’m the only one in business…

YES !

Organization ChartGives clarity to the roles each function plays in the success of the business…

CHECK WHO HAS NOT PLAYED THEIR ROLE !If you did not achieve your target….

PRACTICAL SESSION

..…time for some fun….

..group discussion time….

ROLES & RESPONSIBILITIES

TIME TO PRESEN

T Each Dept/Function present : Why I

deserve an Increment/Bonus

PRESENTATION BY PARTICIPANTS

2 because there’s

disparity

The lovely CEO Representative

The sales team leader

The Admin & Operation – the under-appreciated one ?

Where’s the finance dept?

The owners

INFO & INFORMATION SYSTEM

CREATE YOUR INFO SYSTEM

** Ratio analysis

CYS, ROY, EUS ????

…Its actually(read downwards)…..

…create your own Info system…

…putting data in the order that makes

sense….

INFO & INFORMATION SYSTEM

CREATE YOUR INFO SYSTEM

WHAT INFO

WHERE TO GET ?

WHO HAS THE INFO ?

WHEN WOULD

IT BE READY?

IN WHAT FORMAT

** Ratio analysis

INFO & INFORMATION SYSTEM

CREATE YOUR INFO SYSTEM

** Ratio analysis

…just use simple worksheet

& wordprocessor to maintain records ….

WHAT DO I WANT TO KNOW ?

Reduce Expense

s

More Income

More profit

…HOW TO…Reduce

Liabilities

Increase Assets

WHAT ABOUT $$$$FLOW?? ? Why no money in bank account

- where did the money go? How to optimize cash usage? What about personal wealth

TRACK CASH USAGE! …pay yourself a salary…

……HALF WAY THERE…..….A FEW MORE ESSENTIAL POINTS TO SHARE ….

Are YOU one ?

…Creative…

innovative…

…disciplined &…persistent…

WHO’S AN ENTREPRENEUR ?

WHAT SKILLS AND KNOWLEDGE DO I HAVE OR TO ACQUIRE ?

I don’t know how to sell... LEARN HOW!

I don’t know about the business…but I have the capital… LEARN FROM EXPERTS!

What am I good at ? BUILD ON IT !What am I passionate about? PURSUE IT!

Build on your STRENGTH & Manage your WEAKNESSES

ASSET LIABILITIES CASH FLOW EARNINGS RISKS

VALUES SKILLS KNOWLEDGE TIME RESOURCES

BUSINESS SELF

ARE YOU READY…To face the truth about yourself?

Are you ready to make the CHOICE – what are you willing to let go?

ESSENTIAL ADDS VALUE

TO YOUR LIFE

CAN DO WITHOUT

NICE TO HAVE

NEED WANTNEED

WANT

…which has a stronger pull…

WHAT’S MY HABITS AND BEHAVIOR?

.. I make do with what I’m earning…no

need to change..

….. I want to improve my

finances, I’ll work on my skills and

knowledge to earn more …...

OR

WHAT’S MY HABITS AND BEHAVIOR?

.. I spend..increases credit card balance…

..use personal loan to pay off..I’m still earning…can still

pay…

.. I pay my bills before its due…..

..I settle loans faster to save interest…OR

WHAT’S MY HABITS AND BEHAVIOR?

.. I hardly have enough

to spend, where to have

savings ..….. I put aside xx% of what I earn

before spending…...

OR

WHAT’S MY HABITS AND BEHAVIOR?

…. Sale is here…..time to buy…got ‘discount’ …..I must be seen with the trendiest stuff…..

.. I spend on what I need…

and little indulgences

once in a while….

OR

WHAT’S MY HABITS AND BEHAVIOR?

.. I invest when I have the money ..….. I have a savings plan

& I get advice from experts what to do

with my money…

OR

….what changes can I make…what’s the impact ...

What would my current action lead to ? What’s the possible impact of those choices made today in my foreseeable

future Your current actions

determines your future !!

….my Story & my Emotions...

HAppy

Time sure flies !

… (mostly) at early period of self

employment…

Sad… getting lesser & lesser…

… at one point of time… find myself at a

crossroad……

….my Story & my Emotions...

HAppy… (mostly) at early

period of self employment…

Sad

… getting lesser & lesser…

… luckily someone came to the rescue…

…I focus on my goals…with some guidance…

….what I’m currently doing...

….a taste of success !…

…What’s next....

…come up with something totally new ?....

…not really, just an enhanced version….

BRINGING YOUR BUSINESS TO GREATER HEIGHTS….

CHANGE THROUGH

CREATIVITY

…MAKE YOUR MONEY WORK HARDER FOR YOU….

….INVEST YOUR MONEY….

…PROPERLY…

SAMPLE

SAMPLE

Is your $$ in the ‘right’ currency ?

Last ……but not least ...

…give to those who need, when you can do so…

Be Happy,

Healthy & Wealthy Best regards,

Simply Empowering Teamwww.joycelim.net

All rights reserved © June 2011