Business and Money Tips

From Bloomberg news dated 23 November 2016 (abridged version) Two years ago, Oppo and Vivo couldn’t crack the top five in China’s smartphone market. Now they outrank everyone after elbowing Apple aside, thanks to people like Cheng Xiaoning. Cheng runs a thriving electronics store in the rural town of Miaoxia, tapping into her WeChat social media account to promote the brands that pay the biggest commission, and in her case that’s Oppo and Vivo. While such payments start at about 40 yuan (US$6), they escalate for more expensive handsets and reach almost 200 yuan for Oppo’s high-end smartphones. “That’s why I like to introduce the Oppo R9 Plus to potential customers,” she said. “Business has been perfect, actually never been better.” Cheng and tens of thousands of like-minded boosters form the vanguard of the pair’s  charge  against Apple Inc. and Samsung Electronics Co. Working with the local stores that dominate sales in China’s far-flung provinces, Oppo...

The world’s oldest printed book is not the Bible but The Diamond Sutra or translated as Diamond Cutter. In chapter 1 of The Diamond Cutter, it talks about the concept of Emptiness. Emptiness is not empty but full of meaning. Understand that everything that is happening in your team and organization, including the things that you like or dislike, is empty. They are not pleasant or unpleasant things, they are just empty. This is because what is success to one is considered failure to another, that's why things are empty by themselves. It is the meaning that we give to things that has meaning. For example, you see your team fighting among each other as bad. But to the your team member, the fighting is for him to succeed in his promotion, not his colleague. Whatever we want our team to do as a leader, we cannot succeed by telling them what to do. We can succeed only by planting the right seeds. The seeds that we plant in our mind are called karmic seeds. The seeds lay deep inside our...

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Due to labour shortage, most companies are like beggars when it comes to hiring people. Because there is so much work to do, and because you have a limited budget, you are quite happy to take anyone who is willing to work with you. The hope is that let’s just go ahead and get him on the team, and we’ll teach him on the job. However, having the wrong person in that role can be far more expensive! You may not even realise he is a misfit, because your employee will always have a ready excuse for why he has failed to deliver as promised. He will blame the limited budget or the competition, but when you finally do figure out that he is the wrong person for the job, you are reluctant to fire him, because terminating someone is very hard to do. No one likes unpleasantness and therefore you try to put it off. You hope that with training and guidance he will improve, but when this doesn’t happen, you are in a quandary. Your first response is to try to push him into an alternative role – one w...

Many people never achieve their goals because they set bad goals.  EXAMPLE #1: GET FIT BAD GOAL: “I want to get fit" or  “I want to lose 10lbs.” GOOD GOAL: “I want to eat 3 healthy meals per week and go to the gym 2 times a week for 15 minutes each.” Notice how we’re focusing on the   process   at first, and starting off conservative: Anyone can eat just   3 healthy meals in a week . And anyone can go to the gym for 15 minutes. Set yourself up to win. EXAMPLE #2: MONEY BAD GOAL: “I want to save $1,000 this year.” GOOD GOAL: “I want to have $200 per paycheck automatically transferred to my vacation savings fund for 1 year.” EXAMPLE #3: SOCIAL SKILLS BAD GOAL: “I want to work on my storytelling so I’m not so awkward at parties.” GOOD GOAL: “I want to complete the Udemy online course it in the next 4 weeks.” We need to create a SMART Objective. SMART Objectives are: Specific Measurable Attainable Re levant and Time-oriented ...