The year of 2013 has ended and a new year has started. This year our business performance is actually way better than the year before. However, the profit margin is rather low.
The board of directors had few meetings and dig deeper into our business performance. We realized that our core strength in our business is actually inventory management and sourcing. No doubt we understand the hospitality business well but we are not getting right customers nor the margin to sustain the company.
We review back our past year projects. Our customers were most impressed by how we set up their restaurant's inventory management system. They are able to track their stock levels and know when to replenish the inventory. As such, one of the directors asked whether the same concept be used in other industries? The answer is actually yes. Maybe some changes but the basic ideas are there.
The existing team is small and we cannot afford hiring employees. As such, the amount of projects that we commit is very little. Managing building/ renovation projects involves long hours. The hours could have been spend on other activities that can generate revenue for the business. This was also one of the main factor that drives our decision to change the business model.
To further push the business ahead we need to generate revenue for the company with the minimal cost but the maximum benefits. Sadly, our 1.5 years old company has not found a constant stream of revenue that will cover the company's annual operation cost. As such, our new trading model will work for us.
Customer has already expressed interests for our products and we were also able to find a reliable supplier. The next phase is to built in the process and get the necessary paper work done to import our goods.
Wednesday, January 1, 2014
Thursday, November 14, 2013
Do Your Part No Matter How Small: Lesson Learned from Agent Coulson
I have a confession, I am not exactly a fan of any Marvel Comics. Nonetheless, I enjoyed their movies and the way they set up their movies. In today's blog entry, I do not want to talk about Iron Man or any other major super heroes but a character that started off with a minor role but eventually given top billing with his very own TV series. The person that I would like to discuss is Agent Phil Coulson.
Agent Phil Coulson is played by an actor Clark Gregg. According to IMDB, he is a veteran of both TV shows and movies. What fascinates me is that how could a character who had less than five minutes of screen time in Iron Man when on to have his own very TV series. In short, this actor has won over the hearts of fans and leadership of Marvels.
I do not know Mr Clark Gregg in person, but I would like to hazard guess about his success. Despite having a minor role in Iron Man, Mr Clark has worked hard to play the role of Agent Carlson. He went on to appear in multiple Marvel movies and short films. Most of his screen time is relatively short, but he is portray as Agent Phil Coulson has made an impact and has won fan's support. Fans wants to see more of Agent Coulson and the inner workings of SHIELD. Thus, giving birth to the TV series -- Agents of SHIELD. In life many people and including myself complaining that they are not given any big opportunity. The thoughts is always -- "I can do more, I deserve better". There is nothing wrong with having such thoughts. Rather the question that we have to ask ourselves is -- "Have I played my role as best as I can play?". If we cannot even play a small role well, how could we expect others to give us a chance to play a bigger role? Just when we thought that no one is watching, please think again. No matter how small is our action and role, someone is watching and judging. Mr Clark Gregg is a good example -- short screen time with huge impact.
There is really no such thing as a small role in life. Each role has a part in life's puzzle. Play your role well and do your best. You will never how your hard work will be rewarded. Please let Mr Clark Gregg be your inspiration.
Agent Phil Coulson is played by an actor Clark Gregg. According to IMDB, he is a veteran of both TV shows and movies. What fascinates me is that how could a character who had less than five minutes of screen time in Iron Man when on to have his own very TV series. In short, this actor has won over the hearts of fans and leadership of Marvels.
I do not know Mr Clark Gregg in person, but I would like to hazard guess about his success. Despite having a minor role in Iron Man, Mr Clark has worked hard to play the role of Agent Carlson. He went on to appear in multiple Marvel movies and short films. Most of his screen time is relatively short, but he is portray as Agent Phil Coulson has made an impact and has won fan's support. Fans wants to see more of Agent Coulson and the inner workings of SHIELD. Thus, giving birth to the TV series -- Agents of SHIELD. In life many people and including myself complaining that they are not given any big opportunity. The thoughts is always -- "I can do more, I deserve better". There is nothing wrong with having such thoughts. Rather the question that we have to ask ourselves is -- "Have I played my role as best as I can play?". If we cannot even play a small role well, how could we expect others to give us a chance to play a bigger role? Just when we thought that no one is watching, please think again. No matter how small is our action and role, someone is watching and judging. Mr Clark Gregg is a good example -- short screen time with huge impact.
There is really no such thing as a small role in life. Each role has a part in life's puzzle. Play your role well and do your best. You will never how your hard work will be rewarded. Please let Mr Clark Gregg be your inspiration.
Tuesday, November 5, 2013
Do You Know Your Business Partner?
Before you answer the question, re-read the title of the blog again. Your quality of your business is only as good as your supplier. I have already mentioned this in my previous writeup.The quality of your business partner is also important. Some readers might roll their eyes and say this is a no brainer. Yes! It is a no brainer, but the risk of business partner messing up is very real.
Few days ago, I got a call from client whom we worked on a restaurant project. The client asked me to help him to secure a supply of cooking gas for his restaurant. In Malaysia, cooking gas comes in giant canisters. It seems that he could not count on his chef to have the cooking gas delivered to the restaurant! This client was traveling as such he was not able to monitor the delivery.
What I did was straight forward, I called the chef making sure he is in the restaurant to take the delivery, call the supplier to arrange the delivery. I do not make any money out from this incident but there are some lessons can be learned.
The client should have been able to make delivery arrangements with the supplier before he travels. Cooking gas is the lifeline for any restaurant. It is also the single point of failure to the business should the restaurant runs out of cooking gas. Incident such as this is good for my business to built up the relationship with the client and supplier, but it is not healthy for the client when the business lifeline is out of their control.
I find it hard to accept the fact that chef is not capable in reaching out to the supplier. As a chef he should have ultimate control over the kitchen. The chef's conviction towards the restaurant is now being questioned. There is just no excuse for the chef on not following up on important issues such as ensuring the supplier of cooking gas. With a business partner who is not motivated, other business partner has to work harder to fill the deficit. In the long run, the business partnership will ultimately tear itself apart.
Starting a business and sharing the same dream is very easy. The willingness is to wake up from the dream and make things into reality is difficult. Choose your business partners carefully. If it not working out, shut it down.
Few days ago, I got a call from client whom we worked on a restaurant project. The client asked me to help him to secure a supply of cooking gas for his restaurant. In Malaysia, cooking gas comes in giant canisters. It seems that he could not count on his chef to have the cooking gas delivered to the restaurant! This client was traveling as such he was not able to monitor the delivery.
What I did was straight forward, I called the chef making sure he is in the restaurant to take the delivery, call the supplier to arrange the delivery. I do not make any money out from this incident but there are some lessons can be learned.
The client should have been able to make delivery arrangements with the supplier before he travels. Cooking gas is the lifeline for any restaurant. It is also the single point of failure to the business should the restaurant runs out of cooking gas. Incident such as this is good for my business to built up the relationship with the client and supplier, but it is not healthy for the client when the business lifeline is out of their control.
I find it hard to accept the fact that chef is not capable in reaching out to the supplier. As a chef he should have ultimate control over the kitchen. The chef's conviction towards the restaurant is now being questioned. There is just no excuse for the chef on not following up on important issues such as ensuring the supplier of cooking gas. With a business partner who is not motivated, other business partner has to work harder to fill the deficit. In the long run, the business partnership will ultimately tear itself apart.
Starting a business and sharing the same dream is very easy. The willingness is to wake up from the dream and make things into reality is difficult. Choose your business partners carefully. If it not working out, shut it down.
Monday, October 28, 2013
Tile Size and Slipperiness
For those who are observant, they would notice that the tile size used in the bathroom are normally much smaller than the other parts of the house. Besides the surface of the tile, the size of the tile also affects the slipperiness of the surface. Smaller the tiles, the more tiles are required to lay in an area. This increases the number of line gaps within the area. The more lines the more friction it can provide for the feet or shoes. As such, the surface become less slippery. Do note that you would still need rough surface tiles for wet areas.
Sunday, October 13, 2013
All about Tiles
Recently, we have been working on a house project. The dimension of the house is around 4000 square feet. The owner wanted both floor tiles and wall tiles for the property. Wall tiles are only limited to both bathroom and wet kitchen.
During the exploration phase of the project, we learned that the owner is very cost sensitive and insisted on homogeneous tile. What homogeneous tile means the outer layer of the tile is the same color as the inside of the tile. When you chip a homogeneous tile, the damage should not be too obvious. Another term for homogeneous tile is called full bodied tile.
With the current tile making technology, for a normal housing project the decision whether to use a homogeneous tile should not be a main consideration anymore. In the olden days, the tiles used are what we called ceramic tiles. These tiles are easily chip and damaged, thus leaving an ugly uneven color on the tile surface. Thus, many would choose homogeneous tile to avoid such an eye sore. Modern ceramic tiles are a lot tougher and should withstand a lot more knocking before chipping. Any tiles would survive a simple furniture move and day to day living. The choice of homogeneous tile is limited and significantly more expensive. The color of such tile is only limited to light or earth color. Dark surface tiles are only colored on the surface.
Another type of tile that has gain popularity is the porcelain tile. Porcelain tile has a higher density than ceramic tile. It is a lot tougher and able to absorb a lot more knocking than ceramic tiles. In fact, a lot of modern buildings that has heavy foot traffic are using porcelain tiles. Depending on the usage, this type of tile comes in different surface. Rough surface for wet areas to prevent slip. While polish smooth surface for the living room. The price of tiles between surface of the same series is also different. Therefore, any buyers should check with the supplier carefully.
The recommended gap between floor tiles is 3mm. Leaving a good gap between tiles is to prevent it from popping up. Tiles are sensitive to temperature changes. When is cold, the tile shrinks. When is hot, the tile expands. As the tile expands and the gap is too narrow, the tile has no where to go but pops up. While laying tiles, the workers would use separaters of certain size to determine the gap between tiles.
This is what I have learned working from tiles. I am sure there are a lot more that I need to learn. In my next write up, I will talk about managing cost of tiles.
During the exploration phase of the project, we learned that the owner is very cost sensitive and insisted on homogeneous tile. What homogeneous tile means the outer layer of the tile is the same color as the inside of the tile. When you chip a homogeneous tile, the damage should not be too obvious. Another term for homogeneous tile is called full bodied tile.
With the current tile making technology, for a normal housing project the decision whether to use a homogeneous tile should not be a main consideration anymore. In the olden days, the tiles used are what we called ceramic tiles. These tiles are easily chip and damaged, thus leaving an ugly uneven color on the tile surface. Thus, many would choose homogeneous tile to avoid such an eye sore. Modern ceramic tiles are a lot tougher and should withstand a lot more knocking before chipping. Any tiles would survive a simple furniture move and day to day living. The choice of homogeneous tile is limited and significantly more expensive. The color of such tile is only limited to light or earth color. Dark surface tiles are only colored on the surface.
Another type of tile that has gain popularity is the porcelain tile. Porcelain tile has a higher density than ceramic tile. It is a lot tougher and able to absorb a lot more knocking than ceramic tiles. In fact, a lot of modern buildings that has heavy foot traffic are using porcelain tiles. Depending on the usage, this type of tile comes in different surface. Rough surface for wet areas to prevent slip. While polish smooth surface for the living room. The price of tiles between surface of the same series is also different. Therefore, any buyers should check with the supplier carefully.
The recommended gap between floor tiles is 3mm. Leaving a good gap between tiles is to prevent it from popping up. Tiles are sensitive to temperature changes. When is cold, the tile shrinks. When is hot, the tile expands. As the tile expands and the gap is too narrow, the tile has no where to go but pops up. While laying tiles, the workers would use separaters of certain size to determine the gap between tiles.
This is what I have learned working from tiles. I am sure there are a lot more that I need to learn. In my next write up, I will talk about managing cost of tiles.
Friday, September 13, 2013
Watch Your Suppliers
Recently, my business suffered from a string of complains with one of our cabinets. Through a series of investigation and conversation, we learned that the complains tend to focus on the same company that supplies the cabinet.
We selected this supplier was based upon its willingness to experiment and learn. Our investigation shows that they are only able to do small scale project. As the project scope increases, their resources are stretched to the point where they are not able to maintain consistency with the product qualities.
Being the contractor, we could have taken the easy way out by cutting off this supplier. Rather we have decided to continue working with this supplier with smaller scale project and probably other products. Before taking any drastic actions, we have to ask ourselves why we pick this supplier from the first place. If the supplier are able to hold on to the value where we first selected them, we believe in second chance. Moreover, we all make mistakes. If both of us can learn from it, it only strengthen our working relationship and improve we can offer to our customers.
To many, they may not agree to what we are doing now. Especially in a business environment where perceived to be no loyalties and honor. As for now, we are not willing to cut him lose, unless not yet.
We want to:
The quality of work/ services that you can provide to your customer has a direct correlation with the supplier's quality. Therefore, hang on to your suppliers and treat them with care.
We selected this supplier was based upon its willingness to experiment and learn. Our investigation shows that they are only able to do small scale project. As the project scope increases, their resources are stretched to the point where they are not able to maintain consistency with the product qualities.
Being the contractor, we could have taken the easy way out by cutting off this supplier. Rather we have decided to continue working with this supplier with smaller scale project and probably other products. Before taking any drastic actions, we have to ask ourselves why we pick this supplier from the first place. If the supplier are able to hold on to the value where we first selected them, we believe in second chance. Moreover, we all make mistakes. If both of us can learn from it, it only strengthen our working relationship and improve we can offer to our customers.
To many, they may not agree to what we are doing now. Especially in a business environment where perceived to be no loyalties and honor. As for now, we are not willing to cut him lose, unless not yet.
We want to:
- Grow together with the supplier. Come up with the best product that we can offer, at the most reasonable price.
- Leverage from the supplier's expertise and network.
- Built a portfolio of good suppliers where we are able to quickly gather resources and take action should any good opportunity arises.
The quality of work/ services that you can provide to your customer has a direct correlation with the supplier's quality. Therefore, hang on to your suppliers and treat them with care.
Sunday, August 18, 2013
Entrepreneurship is Enterpreneurshit.
I started this blog is to keep track and share my experience in starting up my company. The journey has not been easy. The blog entry below by Mark Suster says it all well. It is an old entry but says it well.
Yes. Entrepreneurship is Enterpreneurshit.
Yes. Entrepreneurship is Enterpreneurshit.
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