December 31, 2016 0

Lessons that I Learned from My Past Businesses

Lessons that I Learned from My Past Businesses

This article talks about me and my background, and the lessons I learned throughout my business experience.

People do say which is more important? Qualification or experience? So I decided to do both. My first job was mainly to earn some experience in my computing career. At the same time, I was still a students in a private college in Kuala Lumpur.

I was a computer trainer in TTDI and also a computer salesperson in Damansara Jaya. I had good team mates and mentors who really helped me progress in getting my experience while I was still studying.

After I completed my 2nd year and opted to go for part-time classes for my final year, I became a programmer. There I learned how a software house runs its operations.

In 1999, I was offered to be a partner by the training centre that I worked for before. I had the tech skills needed to push the solutions for schools in the new company that we later setup. We focus on growing the market and managed to serve over 30 schools all over Klang Valley. Our company even ventured into out-of-states market as an expansion plan. For certain reasons, we decided to diversify the business by opening up a company that focuses on securing government tenders and labelled our new company as a Systems Integrator company. Our company’s first client was a large GLC corporation and we started growing after that for the next 5-6 years. Our company had more than 100 government and GLC tenders that we won via competition and collaboration with other small-to-large IT corporations.

Not all things are built to last. For certain economic reasons, our business was badly effected, just like many other technology companies in Malaysia at that time. We had to downsize our team and make our company dormant for few years. I then ventured into small technology dealings so life can move on.

I upgraded my know-skills from just business and technology dealings into financial services industry. The new team focuses on promoting insurance, takaful and unit trust investments.

I am now branding myself as a Business, Financial and Technology Consultant.

What I learned from my experience:

  • 1. Know when to act and act faster.
    Don’t let the hard-to-let-go feelings for your company holding you back. By having this feeling, it will cloud your judgement in decision making of to know your next actions – to diversify, to upgrade, to downsize, to sell, or to close your business. This applies not just for your business but also to every other career aspects.
  • 2. Always appreciate your team members – Work & Life Balance
    By having a good team, you can always rely on your team to help your business move forward. Involve your team in certain decision making processes. Just remember that your team is also your colleague and can be your mentor in certain areas. This is just some of what we can say a good corporate culture.
  • 3. You should know about your Financial Wants and Financial Needs.
    Many businesses fail at Cashflow Management. Having a positive cashflow will help your organisation to move forward smoothly. Always make a good practice and be at your best and have good terms with your Creditors and Debtors.
  • 4. Not all things are built to last. Strategic Management
    Owning a business is just like any other investments. Before you invest you must have a good plan on the investment. You need to know about the objectives, initial and top-up investments, expected ROIs, time horizon, legalities, taxes and risks involved. And from time to time, need to monitor, evaluate and also interval reviews to strategise the next actions.

To be continued in the next post, perhaps with another chapter.

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