12 Things You Can Do Every Day To Become Highly Successful

12 THINGS YOU CAN DO EVERY DAY TO BECOME HIGHLY SUCCESSFUL

Success is defined many ways. Financial, relationship and philanthropic success are just a few ways we can measure success. How does someone become successful in their goals? Here are 12 things you can do to help you achieve success.

1. Plan your day the night before

Stephen Covey stated in his book 7 Habits of Highly Effective People that you should review the coming day the night before. This way you have already created a mental map of how tomorrow will flow. You can make sure you have the information for your meetings and if you need to add other activities you can know where you may have time. By planning your day the night before you are being proactive and not reactive.

2. Create a “to do” list

Okay, so you have just planned your day. Any thoughts pop up? What main topic were you going to cover in that customer meeting? Make a note. Were you low on milk this morning at breakfast? Grab some on the way home from work if you forgot to already. Any calls you need to make? Write it down. If you create a list of things you want to accomplish the next day you have a greater chance of accomplishing them.

3. Get a good night sleep

This is easier to do after you have planned your day, feel comfortable with what you have to accomplish tomorrow and then can clear your mind of it. You won’t have to lay in bed trying to keep straight in your head what you have to do tomorrow because you have a list. You should also sleep no less than eight hours and make sure you go to bed about the same time every night. If you do like to read before bed do it somewhere other than your bed.

4. Get up earlier than you need to

Getting ready for work in the morning always seems to take longer than we think. Then there is traffic, weather and parking to deal with. If you give yourself extra time you will be more present in the moment when you load your car or computer bag and the chances of forgetting something is reduced. You will also be more relaxed when you reach your destination. Nothing says failure like a rushed, disorganized sweaty guy running into a meeting late.

5. Read and read and read

You have been hearing this since elementary school. It doesn’t matter what you read. You can read the Wall Street Journal for 45 minutes a day or a novel at night before you go to bed, just not in your bed. You can read business or books about hobbies. The point is that you read. Reading increases our vocabulary, makes us better spellers and exercises the muscle that is our brain… Well, the brain is an organ, but you get the point.

6. Set goals

A goal is a dream with a timeline. Not only do you need to set goals, but set different sized goals. If your goal is start your own company you need to set goals about gaining skills that will help you run a small business. Start by getting a job in the industry and then try to get promoted in the first year. Or if your goal is to write a book set a goal of having a certain number of chapters done by a certain date.

7. Measure your goals

How do you know if you are on track if you don’t measure your goals? If you are six months into that job and things are not looking like a promotion is going to happen… Why? Did you underestimate how much you needed to learn? That’s fine – adjust your timeline. If you are not doing what you need to be doing think about why you have lost interest or momentum. Maybe this line of work is not for you?

8. Reflect and Set Goals for Powerful Learning

Our lives are a story, not a plan. A plan is linear and a story does not follow a straight path. Your life is a story with subplots and surprise characters. It is okay to reevaluate your goals and where you think you were headed and change direction. That is how you learn and figure out what you are good at doing.

9. Get a mentor

A mentor should keep you honest. If you are not hitting your goals they should call you on it. You should have regular meetings with them and let them know what your goals are and the time frame you have given yourself to accomplish them.

10. Stay healthy

Sick people find it difficult to be successful because they are just trying to stay alive. Take care of yourself. Exercise, stretch and eat right. Exercise is a great way to keep you mind fresh by letting off stress. It can also give you time to gather your thoughts. Stretching is important because it keeps you from getting injured and then not being able to exercise. I am not talking about running a marathon – A long walk on a regular basis counts.

11. Focus on one task at a time

Multitasking is a lie. Successful people focus on what they are good at and leave everyone in their dust  Look at what you are interested in doing in life and see if you are good at it. If you are, you are done looking. You have found your ONE thing. See you on the other side!

12. Rinse and repeat

Consistency is what makes people successful. I’m sure you have all had that coach who told you, “what you do in practice, you do in a game.” That person is a genius, listen to them. Practice makes perfect… fake it ’till you make it. Whatever saying you want to use it all means the same thing. Once you have found your one thing keep working on getting better and better at it. How do you do that? Start with number one on this list and do all twelve steps over again, day after day until it becomes second nature. It takes 21 days to form a habit.

8 Signs Of Incredibly Successful Entrepreneurs

8 SIGNS OF INCREDIBLY SUCCESSFUL ENTREPRENEURS

We love listening to the amazing and thrilling stories of successful entrepreneurs. Sometimes we think there is a piece of magic attached to how they attain their goals and become successful at building a venture. The truth is that it is not simple magic, it is effort, it is time and a whole lot of commitment that gives birth to success at the end of the day. And while they keep at their journey and chase after the success of their dreams they display some kind of energy or trait that you won’t see in many people. This traits are what helps them succeed and define a new path or a new venture.

1. They are passionate

Successful entrepreneurs only pursue goals they are truly passionate about. This passion is what drives them to complete their goals and see it through. While others work for work sake, they consider work to be fun or something joyful since they are passionately driven about it. To become a successful entrepreneur requires you making a choice of pursuing those activities that you are truly passionate about.

2. They are goal oriented

Are you able to streamline your goals and only focus on the three most important ones? Successful entrepreneurs do not chase everything that comes their way. Rather they choose extremely important goals and pursue them with ambition and intensity. Unlike other unsuccessful people they only pursue goals that are realistic and attainable over the period they have assigned to it. When you start becoming consistent with achieving your goals, you will start attaining more success in whatever venture you are pursuing.

3. They are able to delay gratification

Successful entrepreneurs know that success does not happen overnight. It takes time. And before whatever they are pursuing meets fruition they need to have a sustaining power of perseverance and grit to go through such period of wait. Successful entrepreneurs can delay gratification. They can wait and be patient to see dawn after a long night.

4. They have good communication skills

They can communicate their thoughts and intentions effectively well. They understand that their goals may not be reached out of their singular effort. They need the support of other people to reach certain goals. But even when you have a great team, it is also essential that you have great people and communication skills to be able to pass your message across to them.

5. They are courageous

Let’s face it. It takes courage to take risks and be willing to face challenges. It is so easy to stay in the comfort zone and not have the pressure of turning an idea into a success. That is why successful people are really courageous. Good is not enough. Rather than settle they will shoot for great instead, even if it takes them facing all the risk, they should.

6. They believe in what they go after

You could call this self-belief or conviction. Whatever term you term it will be, successful entrepreneurs have intense self-belief. They know if they want something so bad, they can reach it. They don’t believe in impossibilities or in “it cannot be done.”

7. They are innovative

In the world of business there is always competition and other odds that will meet an entrepreneur. The challenges are there but it takes an innovative mind to find solutions in the midst of problems. Incredibly successful people search for answers and do well minimize the negative factors that could work against them. They are innovative and unconventional in the way they seek for new territories and new solutions.

8. They are resourceful

Resource could be in form of money or sometimes human capital. When starting out on a venture incredibly successful entrepreneurs are able to generate the money they need to keep on going or the personnel that will be helpful in turning their dreams or desires into reality.

Relocating to Malaysia for foreigners

RELOCATING TO MALAYSIA FOR FOREIGNERS

As a foreigner, Malaysia might be a place to consider if you are looking for a different lifestyle and one which is rich and affordable. Relocating might be a daunting task and you want to go to a place with the minimal hassle and headaches. If that is your concern, Malaysia might be a good choice.

What is Malaysia?

There is just too much that has been said about Malaysia. From being a tropical paradise to food haven, you will like what you see and experience if you have been here before. Should you decide to migrate or settle down to Malaysia, you can expect:

  1. Good tropical weather
  2. Foreigner-friendly environment
  3. Great healthcare
  4. international schools for your children
  5. Affordable housing
  6. Special schemes for foreigners

Working in Malaysia

Perhaps the best option to relocate here is to find work here. As an expatriate, you have guaranteed employment and can be quite highly paid. With the currency, you get to enjoy a lot more than other countries especially when it comes to an expat package. You need to ensure that your employer has sorted out all the necessary applications like getting your work permit and for the period of term required. Once you are here with the job, you can consider settling here for a longer term.

How much should you earn and how much would you spend?

Most expats in Malaysia earn way above RM10,000 per month. On top of that, you might enjoy extras like transportation costs, one-time relocation allowance, children’s education, housing subsidies and such. At the end of the day, the salary must be able to cover your expenses. As a country, Malaysia is quite affordable when it comes to living expenses. A typical meal should not cost you more than RM10 (unless you dine at posh restaurants). A night out will cost about RM200 to RM500 depending on where you go and how you are spending.

Can you settle here in Malaysia?

Now that you have an employment in the country and like what you see, you might want to consider staying for a longer period of time. You can consider starting your own business or settling here for the long term. Among the options that you can consider are:

  1. MM2H – This is known as the Malaysia My Second Home or MM2H programme. As the name implies, it allows foreigners to enjoy certain benefits in Malaysia. besides given a 10-years multiple-entry social visit pass, you can open a local bank account and buy a house here. There are requirements that you must meet in order to be eligible for this scheme.
  2. Resident pass – Another way to stay here for a longer period of time is to obtain a resident pass. This means that you either marry a Malaysian citizen (like the USA’s green card but different allowances) or have some form of family ties with a Malaysian citizen in one way or another.

Tips for small businesses and why you should stand out

TIPS FOR SMALL BUSINESSES AND WHY YOU SHOULD STAND OUT

The corporate world is very much the same as a marketing campaign, you just need to stand out. After all, the market is always crowded no matter where you go.

Is this crucial for your business?

With a resounding yes, it is extremely crucial for your business because of the competition. There is no reason being just one of the players if you do not aim to be unique. After all, competition is all about who wins.

What pointers should you follow?

The rule of thumb in standing out in the market is to have competitive advantage. There are no two ways about it. If you do not have something that your competitors do not have, then you become a commoner.

  1. Value proposition – A lot of businesses are out there looking for the next big thing. They tend to believe that the only way to succeed in a crowded market is by having a product that no one has. The best ideas are the most common ones. What you need to look for really is a unique selling point and not a unique product.
  2. Be different but equal – Make no mistake about this. You want to be equal to your competitors but you do not want to be the same. This is a no-brainer. You want to compete in a level playing field but you want to be better.
  3. Differentiate and initiate – When it comes to products, you have to break away from the common players. You do not want to sell the same service as your rivals. You sell something more, something with value. Take initiatives to be different in the market. There is no reason to sell what is already in the market but there is every reason to sell something more valuable to your customers

Starting business in Malaysia for Foreigners

STARTING BUSINESS IN MALAYSIA FOR FOREIGNERS

Malaysia is a great country to start a business for foreigners. Unlike many countries in the Asia region, Malaysia does not impose a lot of restrictions or conditions for foreign ownership of companies.

Foreign ownership possible?

In the latest statistics by World Bank, Malaysia is ranked within the top 25 countries for Doing Business. This means that it is fairly easy to start a business in this country for foreigners. According to the Malaysian law, the CCM or Company Commission of Malaysia stipulates that foreigners are only allowed to register for a private limited company (that with a Sdn Bhd) and not sole proprietorships (which are meant for Malaysian citizens).

What should you be aware of?

As a foreigner, you must be aware of certain factors before venturing your business in Malaysia. Not every product or service can be offered in the country. But before anything else, there are certain factors that you need to consider.

  1. Type of business – One of the most fundamental factors that you must decide is on the type of business you want to start. The main determinant that you should have is to check if there is a ready market for your business. No point starting a business if the Malaysian market is not ready for you.
  2. Suitability – as a foreigner, you must now decide which business is right. You should not be looking to start a business which could only be done by the locals. Some businesses are very sound if they are run by foreigners like consultancy or retail while some are totally not in your forte, like Malaysian food.
  3. Regulations – Whichever business you decide to run, ensure that you have checked with the authorities and seek the relevant permission before starting out so. In Malaysia, you need to get the right license (private limited or sole proprietorship or otherwise) before you are allowed to run.
  4. Costing for licensing – You need to ensure that you have paid for the work permits and trade licenses required to start your business. There is a lot to consider when it comes to such payments. You need to keep all documents related to this including receipts and invoices because the authorities will be checking occasionally.
  5. Visa – This is where you need to decide if you will be operating your business alone or with your family. Basically, you need to determine how your family and yourself can travel to Malaysia with minimal restrictions. With a relevant visa, you get multiple entry into the country for everyone in your family as it will be a lot more convenient.

Potential problems you might face

While you might have all the required procedures to get your business started in Malaysia, there might be some restrictions that you might face since you are a foreigner. Among them include:

  1. Psychological issues – It takes a while for you to acclimatize to the Malaysian scenario since it has a multi-cultural background. Expect different cultures and traditions and in some states, you might need to get used to conservative societies.
  2. Bank accounts – opening bank accounts in Malaysia can be challenging. Basically, it is not difficult to open bank accounts in Malaysia but different banks will have different requirements. Perhaps the best way to do this is to start with an account from your home country with a branch in Malaysia. That way, you can integrate and move your funds easily between your home and Malaysia
  3. Working permit – one of the biggest problems foreigners face when entering the market is to apply for permit. This is where you need to ensure that you have all the documentation sorted out before coming to Malaysia. It helps to minimize the time taken especially when there are red-tapes involved. Dealing with government agencies can be troublesome if you do not have everything in place.

Planning makes a lot of difference if you plan to move to Malaysia to start your business. You would need to make all arrangements and documentation before coming to the country and that will give you a good headstart. However, if you lack in certain compliance, you can always work around a schedule and return with the relevant documents at a later time. Registration is vital

Sole Proprietorships – Is it really a good idea?

SOLE PROPRIETORSHIPS

Starting your business means you need to have a base of where you can operate your organization. Registering a business is exceptionally important. If you started with a small business idea, the most common way to do this is to register for a sole proprietorship company which in Malaysia would usually called an ‘enterprise’.

What is it actually?

This is the simplest form of a business structure. What you aim to do when you register a sole proprietorship is to start something quickly and easily so that you can get your business up and running as soon as possible. You do not want to have too much compliance issues and it can be completed within a few hours.
Basically, when you own a sole proprietorship, it means:

  1. You are the owner and operator of the business
  2. you report the business income based on your individual financial standings
  3. you are entirely responsible for anything that goes on in the business

Why you should have a sole proprietorship?

You might have by now know that there are more advantages to have a Sdn Bhd instead of a sole proprietorship. But it is not as bad as you think. In fact, there are a lot of misconceptions to having a small business including this one.
Among the reasons you want to register a sole proprietorship are:

  1. East to start – One thing for sure, starting a sole proprietorship company is a lot less complicated. This is if compared to a formal corporation like a Sdn Bhd.
  2. Cost – It is definitely cheaper than any other form of business.
  3. Naming – With a sole proprietorship business, you are free to name it anyhow you like it. It can be your own name or a fictitious name as long as it helps your business.
  4. Hiring of staff – It is easy to hire staff in your business. You have the freedom to create any job title and it can involve any one in your family or friends.
  5. Freedom – Within your company, you have the freedom to make decisions based on your judgment and experience. Naturally, you have full control of what happens in the business and be fully responsible for it as well.

Why you should not have a sole proprietorship?

When there is a upside, there will always be a downside. What then, are some factors that might deter you from forming a sole proprietorship?

  1. Risk – This is the one factor that will be most influential. You will be sole responsible for all the risk that the business undertakes. This includes all the debts or losses should there be any. Risk here not only involves monetary issues but others as well.
  2. Legal issues – If any of your employees break the law, you will be responsible to accept the consequences. Take note that you might be held liable as the company is registered under your name
  3. Personal wealth – one of the biggest pitfalls of having a sole proprietorship is that it affects your personal wealth. It does not matter where your capital comes from, but if there is a loss, you will have to fork it out of your own personal wealth. In the event that your business is unable to fulfil a debt, you will have to personally need to pay for it. Failure to do so means you might be sued and run into the risk of bankruptcy.

So there you have it, both sides of whether you should register for a sole proprietorship business in Malaysia. it is good if you are looking for convenience and if your business is not a large one. In fact, small business ideas like secretarial services would be great for this type of registration. However, you need to consider converting it to a Sdn Bhd if your business grows and you begin to take expand before the risk becomes too high.

Why you should have a Sdn Bhd?

WHY YOU SHOULD HAVE A SDN BHD

Malaysia is very much like every other free economy in the world. You can have some of the best business ideas in the world but you still need to know what company to form. If you run a business here, you will need to register your company and it is very much the same like any other parts of the world.

Sendirian Berhad

You will notice the acronym Sdn Bhd which stands for Sendirian Berhad. This simply means private limited and if you notice a company without the Sdn (only has Bhd), then it refers to as a public company. A Sdn Bhd simply means that your business is incorporated limited by shares.

How important is Sdn Bhd?

If you have decided to register your business as a Sdn Bhd, then you would have weighed the pros and cons of using this instead of a sole proprietorship business. For more information about sole ownership businesses, you can read about them here.
One thing for sure, if you have a Sdn Bhd, you will need to have your accounts audited once every year which means you will need to adhere to the laws. But besides that, what else can you expect to enjoy if you have a Sdn Bhd?

Your personal wealth is protected

When you register your company as a Sdn Bhd, you are saying that you are separating your company’s assets with your personal ones. This means that should anything happen to the company, your personal wealth remains untouched. In other words, the risk is lower against your own wealth.

Existence of business is preserved

Unlike sole proprietorship, a Sdn Bhd means the business will continue to exist when the owner is not around, either deceased or resigned. In a sole proprietorship business, if the owner is no longer around, the business disappears.

Ownership can be transferred

In a Sdn Bhd company, the ownership of the company in terms of shares can be transferred from one to another. In other words, the shareholder is allowed to sell or transfer the shares to someone else and the changes can be made accordingly.

Corporate taxes

When your company or business is a Sdn Bhd, the corporate tax rate is somewhat lower than that which is paid by individuals. This simply means that there are more ways to enjoy tax reliefs than a sole proprietorship. What happens here is that sole ownership companies very much pay individual income tax rates. If your company is making money, it means that your tax becomes a lot more.

Capital options

Using a Sdn Bhd means you have more bargaining power when it comes to issuing bonds or share certificates. This is usually gained through investors and it is a lot easier for you to get loans from banks. After all, the risk is lower where banks are more receptive about giving out loans.

Taxable expenses

It might not be something major but a Sdn Bhd means that you get to enjoy more expenses that allow you to enjoy tax relief. This includes expenses incurred for entertainment, office assets and donations for charity and culture. Sole proprietorships do not necessary offer you such benefits.

What about the downside?

One of the major downsides of having a Sdn Bhd is that you need to comply to certain requirements. This includes filing an annual audited accounts and the use of a company secretary. Whether you are making a profit or a loss, you still need to pay the charges for tax filing, company secretary and annual audit. At some stages, this could be quite costly and it becomes a drag for the owner whether you are alone or partners.
Having said that, it is something that is necessary which ensures that all your income and expenses are accounted for and nothing is ‘hidden’ from the authorities.