in eCommerce now.
I started off doing small business as a student... found out I like it
when I graduated, started off in insurance, found a bit of success, become top 20 agents, promoted to be a manager, unit got off to top 20 in the first year
but become super disillusioned.
realized being an insurance adviser was not a businessman but as an agent, it's a fantastic career (if you are young and want one, go talk to an agent in this chat for this wonderful career)
so decided to do business...
obviously.... I lost tons of money in my first biz 😂😂😂
sell scientific toys and stuff to schools. I remember when first started, each school average enrollment is around 1800
after a few years of declining sales, we decided to bite the bullet and expand
books and more books...
hire more staff, expand our scales
lesson 1- do not throw good money after bad money
by the time I bite the bullet and abandon this company, I already 6 figure losses
whatever I saved from insurance sales, I spent all. hahahhaha
at that time school enrollment is abt 1200 per school
u can see the difference? 600 drop PER SCHOOL
lesson 2- don't fight the trend
seriously don't fight the demographics...
i tried fighting by expanding the varieties and scales and whatsoever....
but so little children left, what can we do
like if one range of your business or YOUR whole business is losing money
most of us, INCLUDING me, like to expand more resources to get it going...
Like hire more salesperson, increase more goods variety
in fact, we made another such issue last month
one of my eCommerce sub-branch was doing beauty products, working with bio essence, Ginevra, gatsby, etc, etc
we did for 1 year, and sales were still not scaled up...
so my partner and I, we decided to bite the bullet, close it and move on
I reject all motions to try anything new in this branch.
lol
you have this #tryonemoretime
but i disagree liao.... of course not all situations, but i find most Asian businessmen got too emotionally attached
so now I training and learning do not be emotionally attached to your products
#letitgo
yeah after leaving the books/toy companies
Chiong up to learn in the corporate world a bit... didn't stray too long
(oh yah big regret, should have learned in the corporate world after graduating instead of chasing money in sales)
form a small partnership to sell goods online with a partner
go deep to find a niche
started off with a small niche area...
then once successful in 1, whack 2nd niche, then whack 3rd niche
one of my eCommerce sub-branch was doing beauty products, working with bio essence, Ginevra, gatsby, etc, etc
we did for 1 year, and sales were still not scaled up...
so my partner and I, we decided to bite the bullet, close it and move on
I reject all motions to try anything new in this branch.
lol
you have this #tryonemoretime
but i disagree liao.... of course not all situations, but i find most Asian businessmen got too emotionally attached
so now I training and learning do not be emotionally attached to your products
#letitgo
yeah after leaving the books/toy companies
Chiong up to learn in the corporate world a bit... didn't stray too long
(oh yah big regret, should have learned in the corporate world after graduating instead of chasing money in sales)
form a small partnership to sell goods online with a partner
go deep to find a niche
started off with a small niche area...
then once successful in 1, whack 2nd niche, then whack 3rd niche
at the beginning it was hectic, we were doing double digits month on month growth but at the same time, still keep trying new and new products
lesson 3- find good partners
lol
my partner is 10 years younger than me... he is a lot more energetic and savvy
because he chiong so fast and so hard, I have no rest, and because I do not want to let him down
when he runs, i will run too
so i run a lot faster than if I run alone
the good thing is because of my sales experience and older experience, he finds my methods and slower way of doing biz useful to constrain him at times too
#workwithsomeone lesson 4? or was it 3
7 figures yearly lor
but really no satisfaction at that time. I was flying 4-5 times a year, and corporate office call me when I want to skip a stupid 3 day Dubai trip (seriously;y fly there sleep 1 night, then fly home again) because if I don't give face, then corporate head don't want to give face to me next time
but really no satisfaction at that time. I was flying 4-5 times a year, and corporate office call me when I want to skip a stupid 3 day Dubai trip (seriously;y fly there sleep 1 night, then fly home again) because if I don't give face, then corporate head don't want to give face to me next time
so I realized... what businessman? I am just their agent.
life insurance agent. of course got 3 GI license too.....
one thing abt business
u must really find partners to work with u, this is the valuable part of it
u can find a good partner, u will run faster than u can run alone
insurance is a fantastic career. if u like money, u work really hard, it's not possible for your income to be below 5 figures
I have seen both warm market agents and cold market agents (street prospecting and roadshows)
in both cases, i have seen career agents
the only unifying theme is - hard work
anyway eCommerce is good
one thing abt being old (for me) is that I v reluctant and stupider to learn new things
but really force me to learn, simi SEM lah, SEO, FB Marketing lah, CTR lah, CPA lah, pixel lah
wah liew I really force myself to learn
life insurance agent. of course got 3 GI license too.....
one thing abt business
u must really find partners to work with u, this is the valuable part of it
u can find a good partner, u will run faster than u can run alone
insurance is a fantastic career. if u like money, u work really hard, it's not possible for your income to be below 5 figures
I have seen both warm market agents and cold market agents (street prospecting and roadshows)
in both cases, i have seen career agents
the only unifying theme is - hard work
anyway eCommerce is good
one thing abt being old (for me) is that I v reluctant and stupider to learn new things
but really force me to learn, simi SEM lah, SEO, FB Marketing lah, CTR lah, CPA lah, pixel lah
wah liew I really force myself to learn
