Business and Money Tips

WeChat Pay is only used in China. Truth: WeChat Pay is now available in 15 countries and regions  for payments in 12 currencies WeChat Wallet can only be opened and used in China. Truth: Anyone can enable WeChat Wallet, even if they don't a bank account opened in China. How?  Just link your WeChat to your Visa or MasterCard and complete the authentication process I need to know Chinese to use WeChat. Truth: WeChat has a translation function that can translate 21 languages, so you don't need to know Chinese to use WeChat WeChat is not secure as the China government can spy on us. Truth: China government doesn't need to spy on Wechat users because Wechat has it own internal audit process that ensures that no WeChat users use WeChat to engage in non-government-approved activities, like HK Independence WeChat is just a fad and may not last, just like Viber.  Truth: WeChat is not a fad as its user base has been growing faster than WhatsApp and Facebook WeChat is less ...

As of now (19 May 2018), there are almost 1.1 billion daily active users on Wechat.  That's why many businesses are looking at how they can advertise and do marketing on Wechat. We all know that WeChat users are mostly people from China and they use WeChat 5 times an hour daily, more than 3 hours and buying goods and services via WeChat.  In fact, many large companies including Huawei, Orchard Road Business Association and Capitaland market aggressively on WeChat. As WeChat is very different from Facebook, LinkedIn, and Google, there are 7 ways that you can advertise on WeChat: Incur at least US$20,000 to Tencent Holdings , the company that owns WeChat.  Tencent will, base on your target market, do a message broadcast to selected WeChat members .  You can specify who and where you want to target, like target the Shanghainese or the China people in Singapore.  Many Singapore companies including Marina Bay Sands, Singapore Tourism Board and Kaplan Educatio...

Real Sales is About Chatting Sales = Chat 1.      The real sales is a happy chatting experience, we chat about each other’s aspirations, worries, how to achieve our wishes and how to help each other take away our worries 2.      The real sales has no position, no buyer and no seller, only friends 3.      The real sales is about helping to solve your friend’s problems wholeheartedly 4.      There is no need to convince or persuade the other person if you’re doing real sales 5.      There is, of course, no pressure under real sales situation 6.      The real sales is about saying what the other person wants to listen, and we are selling what the other person want 7.      The real sales is full of value and meaning as you the salesperson is helping your customer to solve a real problem 8.      After the clos...

Sun Tzu (or Sūn Zǐ in pinyin) was a 500 BCE Chinese general, military strategist, and author of The Art of War, an immensely influential ancient Chinese book on military strategy. Many great leaders like Margaret Thatcher and Ronald Reagan studied his work and became legendary leaders. Many corporate leaders paid thousands of dollars to attend courses to learn Sun Tzu secrets. We believe that you too can learn master Sun Tzu secrets and apply them to your work easily.  This is because we take the essence and compile them into a Half-day course that will leave you with just enough materials to serve your bank’s customers and lead your business to greater heights. Since October 2010, we have trained over 1,137 leaders coming from countries including Indonesia, Philippines Cambodia, Japan, Sri Lanka and even China. How does this military classic apply to your CUSTOMER SERVICE? To ‘win without fighting’ in customer service is to serve your customers wholeheartedly and yet you n...

(Watch our short video at here ) Having looked at financial intelligence for an individual, today we look at financial intelligence for businesses. I will tell you to throw away your financial statements as they are not useful! Traditional financial statements will show you the profit and loss statement as follows: Sales Less cost of sales = Gross Profit Less expenses = Net Profit The question I want to throw to you is: is this your real profit?  How do you make decisions based on this information? We know that businessmen do not rely on the above financial statements to make decisions because they lack an important information.  They do not give you information on your costs. There are two types of costs: fixed and variable. Fixed costs do not vary with operations level, like your rental or staff salaries, they are the same regardless of your sales.  Variable costs vary with your operations level, like your selling costs and cost of purchase.  ...

(Watch short video at here ) As a Chartered Accountant by training, I want to talk about Financial Intelligence today.  This is because everyone wants to be rich, but few have financial intelligence, the key ingredient for richness. Intelligence is the ability to make sense out of information, strategize, think and act appropriately. Most people have no intelligence, for they simply follow the crowd and react more than respond. For example, when times are hard, most people will cut costs, and they end up with lesser sales and less cash flow instead. There are 2 indicators to show if you are financially intelligent: When you are empowered by numbers and take advantage of financial leverage, like make use of other people's money When you can act without money as the objective There are two key elements in financial wealth: value and cash flow. These two are interlinked, for when you have more value, you will have more cash flow.  The rich can turn value into cas...