What is sad that many who met with the disaster dont know how to get back into the game again. This was the case for AbangAbu who lost in an investment venture that been so bad. It took some time for AbangAbu to figure out on getting back on track, from preparing mindset and begin the recovery process that i would like to share with you.

So , The only way to get back into track after failure or disaster in business is to get up and A T T A C K.

Here you go in order to recover from setbacks and failures.

A – Accept

Whatever the condition you are in, the first thing is to accept the fact that you are already in the situation. Nothing can be done to get back or reverse what happened.

Living in the past only makes forward progress more difficult. Instead, accept the setback, let go of it, and commit to forward movement – not because it is the right thing to do, but because it is the best way to help yourself.

The best defense is a good offense so get out of defensive mode and get started on the road to recovery with a clear offensive strategy.

T – Take Inventory:

Take inventory of your current situation. You must know what resources you have and what liabilities you face when developing your plan to come back from catastrophe. If you don’t know where are you now it will be difficult for you to plan the next move.

Do you know what is your asset? How much you owe? How much you can earn? What are the spending need?

With knowing all this than it will be easy for you to get back on track. KOMPAS WANG will help you just to do that.

T – Target

Now that you know where you are, you can set your target. Meaning where you want to go from here. What is your objective? Set your target is the same as setting up your goal.

Identify your strength , weakness and start to set time line for you. The best is to use SMART goal setting technique. MAP2BRICH the steady way to be coached on daily basis.

A – Action Plan

Develop a plan. The plan must be an action plan that will take you to the goal that you set. We call this goal getting plan. MAP untuk KAYA is all about getting your goal. You need to gather all the information on getting the right way and method to reach your goals.

Beside paying off your debts , you have to also save and build on your asset base. This is not done by many of us. We focus on the paying off all and that is not fun at all. We have to also have a strategic plan where we have enough to build faster plan on paying the debts.

C - Courage to Do it

Nothing happen until you start to do things. And remember that do get started might be so painful process. But AbangAbu believe that is part of the success process. Courage to work on waht you have plan even it will be painful expirience. It might upset many people or even those close to you. However to stick with your plan need the courage.

If you really want to rebound from failure than this is a must. You have to go past this state. REMEMBER , you can negotiate on everything.

K- Knowledge

Some of us might got this wrong. I am not talking about the knowledge that you have to get , but this is about know when to adjust and correct your plan.

Remember , there is no perfect plan , wise people knows that. Correction is the most desirable thing that happen. And if you know when to adjust and correct than you will be on the path to powerful recorvery from failure.

WAYS2SAVE – The best way to save and have fun too.

- Winner of the best online Wealth & Money Coaching.

]]> http://abangabu.com/biztips/business-tips-a-t-t-a-c-k/feed/ 0 http://abangabu.com/this-week-entrepreneur/this-week-entrepreneursmalay-arts-galery/ http://abangabu.com/this-week-entrepreneur/this-week-entrepreneursmalay-arts-galery/#comments Fri, 13 Mar 2009 02:29:37 +0000 Abang Abu http://abangabu.com/?p=610 Continue reading →]]> MAP untuk KAYA session FREE on the 14th March 2009 , saturday . 2.30pm to 4.30pm REGISTER NOW

MAP2BRICH eCoaching for 12 months of $29.90 left only 22 slots before the price increase to $49.90. GRAB NOW    LAST 3 DAYS.

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How are you ? Brothers and sisters. Even Abangabu is really busy thanks to the two students who manage to do this weekly segment for abangabu.com.

So this week we have something to do with arts. So , come lets learn something form this entrepreneur.

Here the interview

Name of Shop: Malay Arts Gallery

What kind of business do you have? What inspire you to become an entrepreneur?

We are selling Malay traditional handcraft and musical instrument. I would love to keep the heritage and not let it be forgotten.

Did you need to have a certain mindset to achieve success?

Yes of course we need to have a focus mindset. To be successful in something,we also need to have a lot of patience.

Have you notice a certain advantages to being an entrepreneur?
It is more on the time working hours where it is more flexible.

Is it difficult to get financing for businesses? If so, why and are there any solutions?
Of course but if we know how to maintain and look after our finances properly,it’ll be no problem.

Did you have a mentor to help you get started?
Yes,he is my husband. My family helped out in this business too.

Approximately how much money did you invest before your business became profitable?
It is a lot because our items are mostly antiques and handcrafts so it do take a lot of money to purchase them.

What resources were most helpful to you when you were starting your business?
I get all my items throughout Indonesia,including Riau,Sumatra,Surabaya,Jawa,Bandung and etc.We travel there ourselves to ensure good quality.

What ways have you found to be most effective in marketing your product or service to get sales?
We do not charge for our delivery service as we think that our items are reasonable to counter for the delivery charge. We have websites and blogs so that it is easier for people to know where we are.

What tips can you give others who want to embrace their dream but, don’t have the confidence or feel they don’t have what it takes to succeed?
We have to be brave and always focus in what we do. Do not always give up easily.

How do you manage juggling the responsibilities of being an entrepreneur?
It looks easy but actually its not. We have to make sure that all the things are available,taking orders must be efficient. And if things don’t have,we have to quickly find it. We also do delivery and it must be done well so that the things are not spoilt when reach the customer.

What’s next for you?
For now,not yet because it will be very hard if we think on the long run. If we were to have not just one outlet,we need top buy more stuffs and therefore we have to travel a lot. This takes up a lot of money and time.

Thats great!!!!!! so so much to learn yah….. Anyone have any suggestion do comment in the comment box. Enjoy the entrepreneurial journey ….

]]> http://abangabu.com/this-week-entrepreneur/this-week-entrepreneursmalay-arts-galery/feed/ 2 http://abangabu.com/biztips/biz-tips-p-o-w-e-r/ http://abangabu.com/biztips/biz-tips-p-o-w-e-r/#comments Tue, 23 Dec 2008 07:40:09 +0000 admin http://abangabu.com/?p=455 Continue reading →]]> AbangAbu feel during this time of economy, to thrive in business , one need to have some POWER . This is the time that successful entrepreneurs fine the power to move and get bigger and stronger. The same can happen to all who are ready to apply the POWER principle in their life and business.

AbangAbu been very busy during this recession time. Moving around doing programs that teaches people on the important of money management and good financial habits. And AbangAbu also helping few aspiring entrepreneurs to get started during this recession. And i believe there is always opportunity that we can capitalize during this recession time.

And in the deadly tuesday tips AbangAbu would love to intoduce POWER in your life so that all can thrive during this challenging time around the world.

So here you are again P -O – W – E – R

P= Passion

Behind every forms of excellence; whether its in sports, relationship, business or any other things , PASSION is everything. All those who excell in whatever they are doing is people who have passion in what they are doing. As an entrepreneur what will make us pass thru difficult time is the passion that we have for the things that we are doing. Look for things that you will do with passion, remember when you lack passion in business that you are in now , there are great chances that business will not survive the current recession.

O= Opportunity

Every reccession brings with them opportunity as well. Always look for new opportunity for you to get involve in. Source for a product that will be in demand at current time and sell it. Look for new target market for your product. There will me abundance of opportunity for those who look out for it. Never ever stay still in recession days but look out for new opportunities. Many business succeed during financial crisis, so look out for opportunities.

W= Willingness

Even with greatest opportunity , to do something or to make an impact on your life or business and the lives of others you must take action. Willingness to carry out the plan, willingness to go extra mile to make things happen. Willingness to be brave and stiking to your plan. Willingness to try out something new . Willingness to take calculated risk. All successfull entrepreneurs are made of this . And it is even more important to have willingness to take action during challengging times like what is happening now. So always have the willingness to do till you make it happen.

E= Energy

You will never get energy by just drinking some tonics, and thats is not the energy i am talking about. It is the inner energy that will make you be strong and unstopable in any situation. In order to get this energy you must be energetic, its just the way it works. So always tell your self powerful affirmations that will make you to have energy and that will make you move forward during recession. So get energy to stay afloat in business.

R= Results

And this is the best time for us , entrepreneurs to evaluate our results before embarking on a change. And with the year 2008 is apporaching its final days, we are moving into 2009 soon. And this is the great time for us to use the 3R method .

Take time to REFLECT all the things that happened to us, the bad and good. What we can learn and what we need to change to make our 2009 better.

REACT to all that happen, if it is good than keep doing it again and if it is not good than react by changing it.

RESTART. If you are not at the place that you wanted or getting the goals that you wanted , than never give up on that dreams and goals but restart by doing it again but maybe diffenrently .

With all this you will get the result that you wanted always.

AbangAbu want all entrepreneurs survive this financial tsunami and for those who are not in the game of business, never wait as there will be no better time to get into it than now.

All the best for all of you and use POWER in your life and business to excell.

PS:There will be MAP untuk KAYA free session on the 26th December FRIDAY 2008 at 7.30pm to 9.30pm at 25 peck seah street. Beside MRT Tg Pagar. Call 62200701 for registration.

7 steps to become a young entrepreneur book by 12 years old entrepreneur. get it now …..

Abangabu were very busy lately alhamdullilah with so many programs and workshops going on. This Economy crisis is one of the worst as what people are talking about and it will effect every one . Some will feel the pinch and some will enjoy creating more. So which side you want to be in?

As entrepreneur i believe that we have to create our own LUCK in business no matter what condition we are in.

So to succeed in business in this current economic condition we need to have L U C K

so here we go….

L- Location.

This is the most important thing that we as entrepreneur need to take note. location where we are to do business play a very important part in a success of a business.Look at those successful businesses and you will see them in a very startegic locations. So when you really want to succeed getting the right location is very important. And currently with this economic uncertainty you will even get a better bargain in wonderful locations. So look out for the best location for your business.

U- Understand.

Another important factor is to understand what is happening currently. What are the things that people needs and wants this current moment.? Ask yourself how your product or services is something that they need now? The best way is to find out what people looking for at this current moment of economic condition and provide that services. Always think from the customers shoes.( think from the customers point of view).You will get your luck if you understand whats going on around you. Many fail to understand this and struggle in business. AbangAbu also learning to do this now. Provide what people need at the current time.

C- Connections

Aha, this again, i had been talking almost many many times about this. This is a major factor in succeed in business. You have to build the connections with your customers, make them know you care in current times and you wanted to help them as well. Get connected to people who can help you to reach your goals. Sometimes even you are at the right location and understand what happening you might not get what you wanted if you don’t have the right connections. So build your connections with every one. Customers, suppliers, advisers, mentors, media and any one who will support your growth. So never miss out this if you want to have luck.

K-Knowledge

As entrepreneurs or even who ever you are , life long learning is a must in order to be successful. Today , the world change rapidly and so fast what you learn will become absolute in just few days. So constantly seeking knowledge in the field or business, or industry that you are in become very important. Knowledge about your customers and their needs is critical to create luck too. Keep updating with current condition of the world and connected to the global happening will open up a whole new great opportunities and that will create luck for you and your business.

So in conclusion AbangAbu want to tell you that its you who create luck for you. Nothing will change unless you change. learn and keep learning to create those luck.

So to have LUCK you must understand AbangAbu’s tips today. I believe that this will give you ideas and make your business prosper in current time.

Do comment and feed backabout this.

I will select randomly on those who comment on my postings to receive special mystery gifts from me monthly. So why wait just any comment that might help others.

How are you? Its been sometimes already that i get entrepreneurs to be featured here . And this week i get to meet this mother whom i saw few times and i like the energy that she have towards being successful.

I want her to share some of her tips and ideas that might be useful for all of us.

She don’t want her picture to be here anyway… But my advice for entrepreneurs never be shameful to show your face to the world.

1) What kind of business do you have? What inspired you to become an entrepreneur?

I am doing supply and trading business. What really inspired me to be an entrepreneur beside the vast potential income is that I can be my own boss and manage my time according to what I realy want , not dictated to me by my boss.

2) Did you need to have a certain mindset to achieve success?

Of course. In doing business you HAVE to have the right mindset. You need to be VERY positive and willing to accept the rejections that come your way as a learning experience to excel in your business.

3) Have you noticed certain advantages to being an entrepreneur?

Yes, being able to maximise your true potential and test yourself to the max. Before being an entrepreneur, I never dreamt of for example mending a booth. I’m a very shy person and very self -conscious. But after sometime, I manage to overcome my shyness and my self esteem improved. Another thing is that when my group of suppliers and traders grow, I feel deep satisfaction because I manage to not only help myself but also others in making a difference in their lives.

4) Is it difficult to get financing for businesses? If so, why and are there any solutions?

Yes if you do not have a good financial background but that should not prevent you from being an entrepreneur. Financial support can come from family members and friends. In my business, for those who have inadequate capital, they can start as low as $39! All they need after that is sheer hard work and prayers.

5) Did you have a mentor to help you get started?

Yes, I would never indulge myself in any business if I do not see any success for those who have done it. My mentor has been in this biz very long and I feel very confident in him to guide me to achieve success.

6) Approximately how much money did you invest before your business became profitable?

I have personally purchase 1 trading volume to start my business. I got back my initial investment by just trading half of my stocks.

7) What resources were most helpful to you when you were starting your business?

My main resource is my mentor cos he was the one who brainchild this trading and supply business. Other information I got are from the internet and from my interaction with fellow suppliers and traders in my business.

What ways have you found to be most effective in marketing your product or service to get sales?

There are various ways that I market my products but most effective is personal recommendation from relatives and friends. Mending booth help to introduce the product to to the consumers and the free trial that I give enable them to be more convinced to purchase the product.

9) What tips can you give others who want to embrace their dream but, don’t have the confidence or feel they don’t have what it takes to succeed?

WHATEVER YOU THINK IS RIGHT! If you think you can do it, you can but if you think you can’t, then you can’t. Confidence can be built with knowledge and sales activities. You must be willing to come out of your comfort zone if you want to embrace your dream.

10) How do you manage juggling the responsibilities of being an entrepreneur?

I’m a mother of four. Juggling responsibilities can be done by prioritising your roles. Do not be so rigid in life. Be flexible and willing to adapt to changes when the needs arrived. During my children exam period, I lessen my sales activities to cater for their needs.I also involved them in my business so that they understand what I’m doing and be more appreciative of my effort to bring comfort to their lives.

11) What’s next for you?

I’m targeting the world to market my product. I am currently negotiating with traders from Brunei and Indonesia. Besides that I am continuously expanding my team to include housewives and students who want to earn extra income.

I hope this sharing will give you the motivations to keep up your journey.

AbangAbu been hearing this word GAWAT in malay meaning recession. And many of us will be effected some how during this recession. But do we just stay on and not doing anything.

“so what we should do ?”

Abang Abu feel beside we take all the necessary action on spending less and only for needs rather than want, now it is our responsibility to educate ourselves about money. How to make , invest and many more things. Attend workshops and programs related to money. This is the time you should really have to learn , invest in learning and you will save soo much.

“MAP untuk KAYA workshop is one such program conducted by AbangAbu”

The other thing that should be a responsibility for everyone is to teach our young ones about money . That is the age that we should teach them about important of managing money properly so that they will be ready to face any recession in future.

Getting hot

AbangAbu recently conducted such program for some students age 15 in one of the secondary school as one form of post exam activity.

We use a game board to teach them about finance. And i would love to see more of us take responsibility in teaching these people about money in anyway that we can.

If you have some kids or teens that you know and want them to learn about money. Look forward in coming November AbangAbu is planning to have a 4 days workshop for them. Detail will be out soon.

Mean time if you have some ideas or you have some thought about this please response to this article.

We are going on to become millionaires

Really happening

May more of our young will have one of the most important knowledge … lets work this together.