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Old 27-02-2012, 05:15 PM   #361
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how is everybody?
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Old 27-02-2012, 09:48 PM   #362
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Say, when is the 'best' time to submit your returns to IRAS online?

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Old 01-03-2012, 02:26 AM   #363
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call me ill explain 82381218
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Old 04-03-2012, 07:23 PM   #364
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how to file patent for cheap?
If I told you that someone who is reading this very thread has actually filed a patent, would you believe me?

Yes, it's true.

And you are very lucky.

Why do I say so?

As the saying goes, "It's always easier to talk to someone you know".

That 'someone' is in fact a fellow EDMW'er. Not only is he active in this forum, he is also actively participating in this thread. Here's his post from the front pages of this thread:


The website that is tooted in his avatar is actually running on an idea that he deems original and he has declared it so via a filed patent.

Now...what is holding you back from reaching out to make friends with this fellow EDMW'er, who so coincidentally happens to be following the same thread as you?

So, why not take this chance to reach out to him - send him a friendly PM to say 'hello' and ask him nicely how he went about the patent application process? Afterall, both of you belong to the same forum community. A coincidence like this happens only once in a blue moon!
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Old 10-03-2012, 01:49 PM   #365
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The IT Show is here again.

Compared to twenty or thirty years ago, aspiring entrepreneurs in this day and age are very fortunate because they have at their disposal, a wide range of technologically-advanced office equipment to help them run their businesses more efficiently.

For those of you who are serious about setting up a SOHO(small office home office), there is one particular office machine that is important, besides the computer. Can you guess what it is?

It is the fax machine. Yes, you heard correctly, a fax machine.

Contrary to popular belief(especially among the younger generation), the fax machine is NOT obsolete yet. It is still alive and kicking! In fact, if you have even the remotest of dealings with Singapore customs in some way or another, you will most definitely need a fax machine.

To the small business owner, my advice to you, especially if you have a limited budget and a small office space, is to equip your office with a multi-function printer(with print/copy/scan/fax functions). By combining so many functions into a single piece of equipment, it will help you to minimise space take-up in your SOHO/small office, and also help you to keep equipment costs down.

Looking at what's available at this year's IT Show, I am impressed by the kind of multi-function printers that one can acquire for such a reasonable cost nowadays. Some examples:






As a small business owner, not only must you always be on the lookout for business opportunities, but you must also be on the lookout for ways to improve your business efficiency and productivity across the board.

This means spending a day at technology shows, at least once every year, to keep up with technological advances, and to see how technology can be put to good use in your business operations, to help your business become bigger, stronger, and faster.

Last edited by ribenafish; 18-03-2012 at 05:56 PM..
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Old 10-03-2012, 02:39 PM   #366
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I didn't read alot in this thread, too much WOT.

I'm already retired but i made alot of money when i was young, now i'm a senior consultant for a very prestigious firm.
My net worth is quite a pile to many and my status in my trade is at prestigious level.

I'll do it short.

Look and do the following researches.

1)
How many new businesses closed down after 2 years.
How many business closed after 10 years?
& How many business in UK super brands survived after a 100 years.

From here you can realise one thing - Sustainability

What business do you have to ensure you will survive for the next ten years?
Or are you looking at only until tomorrow?

There's another thing you need - Systems
You need guidelines for your business that will work and play a decision in your next few decades, even at your absence.
So your business won't steer away from it's original line of direction even if you are not around and functions effectively.



2)
Buy cheap sell very expensive. How?
The answer is buy commodities sell brands.

I'm not talking about buying cheap knockoffs from China and sell them high to carrots.

Buy raw materials, make them into products, build strong brands, and sell them high.

Or offering very professional expertise that has generally no cost.


3)
Branding
Your products need an identity. Don't make a similar product, make the best product and sell expensive.
Do you think LV will last longer, or Bonia?

If your business is those type of buy a product, compete prices with others.
I say forget it, it's not sustainable, as those from developing countries will simply wipe you off.

As one had mentioned, the more expensive is your product, the higher branding you enjoy. With higher branding, people will desire for it as people always hope to get things that are hard to get.

Spend generously on marketing as they lay down the routes to future business.
No point having a good product but no one knows about it.

If your product had been well marketed, has a strong brand status, you will receive calls from people asking for franchise. You will receive funds to enhance the brand further.

4)
Don't build a business out of emotion.
If you like computers, you are good in it.
Don't mean you should only focus on computer related products, as it maybe a sinking industry.

5)
Travel and expand your knowledge
Don't stick to Singapore, travel around and look for ideas or better products.
I must tell you something, you are very lucky to be a Singaporean in the 21st century.


There's actually much more, but i think i will stop with this first but one may find my mentality similar to Warren Buffett.
Yes you are right, because what he mentioned, is simply common sense.

I won't say good luck, i say stay smart.
Falling down is ok, is good, as you learn to be smarter the next time.
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Last edited by unwanted; 10-03-2012 at 02:42 PM..
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Old 11-03-2012, 03:44 PM   #367
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I didn't read alot in this thread, too much WOT.

I'm already retired but i made alot of money when i was young, now i'm a senior consultant for a very prestigious firm.
My net worth is quite a pile to many and my status in my trade is at prestigious level.

I'll do it short.

Look and do the following researches.

1)
How many new businesses closed down after 2 years.
How many business closed after 10 years?
& How many business in UK super brands survived after a 100 years.

From here you can realise one thing - Sustainability

What business do you have to ensure you will survive for the next ten years?
Or are you looking at only until tomorrow?

There's another thing you need - Systems
You need guidelines for your business that will work and play a decision in your next few decades, even at your absence.
So your business won't steer away from it's original line of direction even if you are not around and functions effectively.



2)
Buy cheap sell very expensive. How?
The answer is buy commodities sell brands.

I'm not talking about buying cheap knockoffs from China and sell them high to carrots.

Buy raw materials, make them into products, build strong brands, and sell them high.

Or offering very professional expertise that has generally no cost.


3)
Branding
Your products need an identity. Don't make a similar product, make the best product and sell expensive.
Do you think LV will last longer, or Bonia?

If your business is those type of buy a product, compete prices with others.
I say forget it, it's not sustainable, as those from developing countries will simply wipe you off.

As one had mentioned, the more expensive is your product, the higher branding you enjoy. With higher branding, people will desire for it as people always hope to get things that are hard to get.

Spend generously on marketing as they lay down the routes to future business.
No point having a good product but no one knows about it.

If your product had been well marketed, has a strong brand status, you will receive calls from people asking for franchise. You will receive funds to enhance the brand further.

4)
Don't build a business out of emotion.
If you like computers, you are good in it.
Don't mean you should only focus on computer related products, as it maybe a sinking industry.

5)
Travel and expand your knowledge
Don't stick to Singapore, travel around and look for ideas or better products.
I must tell you something, you are very lucky to be a Singaporean in the 21st century.


There's actually much more, but i think i will stop with this first but one may find my mentality similar to Warren Buffett.
Yes you are right, because what he mentioned, is simply common sense.

I won't say good luck, i say stay smart.
Falling down is ok, is good, as you learn to be smarter the next time.
Thanks for the great many insights with those with invaluable experience!

You guys are really great, sharing all these with us who are still learning the ropes.

Appreciate it!

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Old 11-03-2012, 04:19 PM   #368
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fwah... all the hidden dragons and crouching tigers are camping in this thread...
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Old 17-03-2012, 01:20 PM   #369
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fwah... all the hidden dragons and crouching tigers are camping in this thread...
i look at your nick and thought you're a Malay
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Old 19-03-2012, 01:36 PM   #370
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Keeping costs down is one of the biggest challenges when doing business, especially to a small business owner.

Fortunately, there are some ways(unique to Singapore) that can help to mitigate some of the costs of setting up and running a small business.

I will share some secrets here.

Some of the tips below are not really 'secret' per se, but rather, it may come across as such to someone who is learning about it for the very first time.

All of the tips that I am about to share, are geared towards the frugal entrepreneur who is just starting out, with very limited capital and resources.

Being frugal may be the single most important character trait that you can develop, especially if you are a small business owner.

Warren Buffet once said(documented in the DVD 'Buffet & Gates Go Back To School') that if Bill Gates dropped ten cents on the floor and didn't go back to pick it up, he would!

The founder of IKEA, Ingvar Kamprad, is well known for being frugal. Although IKEA is no longer a one-man-show business operating out of his uncle's kitchen, Ingvar Kamprad is still as frugal now as when he first started the company!

Did you know that some of the early office chairs inside 'Lee & Lee' - the law firm of the late Madam Kwa Geok Choo, were acquired from Sungei Road when the law firm first started out?

There is nothing shameful about being frugal as a businessman/businesswoman. In fact, if you have the misguided notion in your head that everything has to be pitch-perfect before you can start a business(or embark on anything, for that matter), then I only have this to say to you - that day will never come.


So here are the secret tips I promised:

Tips For the Frugal Entrepreneur In Singapore:

1) FREE shuttle bus to/from Changi Airport
Although it runs only on weekends and public holidays, and serves only limited estates, just knowing that it exists, can be useful in the off-chance that you are able to take advantage of it.

Source: Free Shuttle Bus - Changi Airport


2) Office rental
Did you know that you can rent office space on a need-to-basis in Singapore? Or that you can monetise your spare office capacity by allowing other budding entrepreneurs to use it like so?

Source: AdhocSpace: Find a Rental Space for Meeting, Conference, Seminar or Training.


3) Read 'The Business Times' for FREE
I am sure every Singaporean knows that 'The Business Times' is a local newspaper for business news. In fact, it should be mandatory reading for every businessman/businesswoman because it can help you to scan the external environment for changes that may directly affect your business. Most people know that.

But what most people DO NOT know is that every Singaporean is granted the privilege to read 'The Business Times' for FREE. Yes, you heard correctly - for FREE.

You didn't know that? Well, now you do!

Source: eResources - National Library Board Singapore


4) There is nothing shameful in furnishing your office with office furniture that others want to discard

If I told you that there are expatriates in Singapore who are giving away FREE good-quality office furniture, and in some cases - entire office cubicle systems/partitions, etc, if only you would go down to collect it from them pronto, would you believe me?

Yes, it's true. It has happened before.

Depending on your luck, you can find good quality office furniture that some expatriates who are leaving Singapore may want to give away for FREE, here:
singapore free stuff classifieds - craigslist


5) "If you don't chart the course of your ship, you will just drift aimlessly in the ocean"

My best planning organiser is not an iPad, or a tablet. In fact, it is not even an electronic device. It is an old-fashioned paper-based book planner courtesy of Citigold. It has a world map, world time zones, world air distance guide, world holidays guide, airports guide, conversion guide, country telephone pre-fixes, etc. And the best part is that it does not need a battery to run and it's free.

Many successful businessmen have the whole year ahead all charted out, and this usually takes on the form of a yearly planner book like mine, or on a large whiteboard on the office wall, or a large tablemat-style yearly planner(which you can get free from most insurance agents).

Get yourself a yearly planner and chart the course of your business for the year ahead, putting in dates for achieving sales milestones, mark the dates of your marketing campaigns for the year, take note of potential holiday seasons so that you can plan your promotions, mark the dates of upcoming trade fairs/exhibitions that you think you should attend, highlight deadlines for filing your income tax, renewing your business licences, etc.

Once you have the entire year all charted out, you will then have a very clear view of what lies ahead for your business for the current year and what you will need to do to bring them to fruition. It gives you a 'helicopter view' of what lies ahead and what needs to be done.

Here is a link for you to download a FREE yearly planner calender template which you can print out to use. It is published annually:
Printable Singapore Calendar Planner 2012 – with non-Singapore version @ Smart Tuition Singapore (Tuition Agency in Singapore)

For the obsessive compulsive, here's something quirky that someone recently showed me - a very simple yet clever keychain device which is basically a 50-year perpetual calendar. Useful if you want to know on which day of the week a future date falls on! It really works. Here's a picture of it:


Always remember this - no business becomes big overnight. It is a step-by-step process. And if being frugal is what it is going to take for your small business to survive its early years, then so be it. Be humble and do what you have to do - there is nothing shameful about being frugal.

I am sure many of you have your own tips on how to be a frugal entrepreneur. Please feel free to add on your own tips to this thread so that more budding entrepreneurs can benefit from it.

Last edited by ribenafish; 28-03-2012 at 10:23 PM..
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Old 19-03-2012, 01:43 PM   #371
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Hi, I actually need some advice with regards to -

1) Claiming of business expenses like dining with clients etc. How does it actually work?

2) Whether it is easy to get a loan for my business from the banks.

3) Guidelines on how to fill up Form P.


Thanks!

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Old 20-03-2012, 06:21 PM   #372
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Hi, I actually need some advice with regards to -

1) Claiming of business expenses like dining with clients etc. How does it actually work?

2) Whether it is easy to get a loan for my business from the banks.

3) Guidelines on how to fill up Form P.


Thanks!

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Old 20-03-2012, 09:32 PM   #373
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What kind of business you do?
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Old 21-03-2012, 12:50 AM   #374
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What kind of business you do?
Mainly HDSLR videography and photography.

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Old 21-03-2012, 10:07 PM   #375
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Mainly HDSLR videography and photography.

So you usually do it for free?
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