Are You A Millionaire?

Hi all,

How are you doing? I believe you are all GREAT.

I have some news that i want to share today. And i got this email below…. from someone that i dont know. The email goes like this…..

Are you a millionaire or a multi-millionaire?

AbangAbu’s answer:

What is your own definition of millionaire or multi-millionaire?If you think that having  liquid assets  worth a million is a millionaire or having properties worth millions is a multi millionaire than i am of those two. However i believe that to consider yourself a millionaire or not is up to you. For me being a millionaire means that you must at least earn net 1 million cash every year so i dont consider myself a millionaire. I am just a simple guy who still learning the ropes and journey in entrepreneurship. Infact i am learning every day and if you can teach me something that i need i will learn from you as well.

What are the 6 businesses that you own?

Abangabu answer:

I started more than 6 businesses and of course i make mistakes in some of the businesses and some become succesfull.

19——- Nazir Restaurant JB (Larkin , Skudai)

20——-Nazir Minimart JB (tun Aminah )

21——-Shabaz Enterprise ( Tun Aminah)

24——-Shabaz Electronics and Computers Pte Ltd ( Singapore)

26——Shabaz Gift And Souviniers ( Singapore)

26——-Miracle Juntion ( Singapore)

26——- Precession Consultancy( Singapore)

28——NowAsia ( Singapore)

30—— Design Indah Sdn Bhd ( KL)

31—– Design Engineering Sdn Bhd( KL)

34—–Dapur Indah Cafeteria(KL)

new startups:  AbangAbu , AbangAbu.TV also a new production firm soon.

Check on this so that you know which are existing and which are not.  must do work mah…. hahahaha

Are they companies or firms?
Companies are those that have “Pte Ltd” or “Ltd”.  Hence, if you are that rich, I am sure all your businesses are companies.

Abangabu answer:

Of course some of are pte ltd , some sole prop, some partnerships. If doesn’t matter if are rich or not . Starting business requires strategies and that is what it matters when you start as firm or any other form of legal entities. This my own opinion.
Do you have links to your businesses’ websites?

AbangAbu answer:

I have only 2 websites , Nowasia and AbangAbu as well AbangAbu .TV.
How come there is hardly any information on your businesses when I googled?

Abangabu answer:

Well that is not in my control . ahahahaha. maybe google  dont like me ahahahaha. anyway you can google my name abuayubul Ansari or AbangAbu . you might get some list there .

I hope this will a help for you. I dont have your email so i decide to publish it here so that maybe others can benefit as well.

Thank you.

Abangabu answer:

Welcome. may all of us grow rich and successful with social responsibility.

BizTip: PROFIT

One important element in business is profit. Many of businesses are struggling in making  profits consistently. Infact new startups must find profit fast so that they can go a long way in their business. I would like to highlight some important steps and guide in order to get good profits.

I will using the acronym PROFIT  to get more profits in your business

P= Price——

Price your product right. This is very important in making a good profit. Many of new startup dont really know how to price it right. This is because fear of losing sales and ect. Do your research on your kind of products and services out there before set a price. And know your target group. Also know your costing as some of new startup price it lower than their cost.

R= Review—–

Review your marketing plan. Find out whether your marketing plan designed to produce the intended result?. Change the content and evaluate the results. Use different media. Invest in some marketing workshops .Implement different technique of marketing. Very critical aspect in making good profit.

O= Operating Cost—–

Operating Cost can make your profit very less or even make your business lose money. Take all effort to keep your operating cost low. Start operating at home if you don’t really need a office in the beginning. Don’t buy fancy items like expensive furnitures and so forth. Do all you can to keep the cost very low in building the business.

F=Flexible—–

Make your service or product flexible enough for you to add value. This will help you to sell other things that might very relevant with your main service or product. By adding the right value you have a great chance to increase the price of your product.

I= Inexpensive Promotions

In order to get good profit you have to do promotions. However my advice will be looking for inexpensive promotions. Like  tagging with other products that can be a complement. Giving out talks about your service or products, attend free networking events. Email contacts that you have . Giving out certain fees to people who refer your service or products to others.

T = Target—–

Target market is one of the important aspect that every business should pay attention. Find out the right target market for your service or product. Find out where they live , what they love doing , income range and all the details that you can get from. This will be very helpful for you in design the right marketing plan that will hit or reach your target group.

These points will be surely speed up your profit return and increase your profit as well.

I wish all my readers who are in business to gain high profits in their businesses.

This week Entrepreneur

Hye all,

Today, we would love to introduce another young entrepreneurs who have started and running business. Haida Waty from NowAsia had the previlige to interview them and feature here in www.abangabu.com

I am very sure that we can learn something powerful from this young entrepreneurs.

olalola.jpg

Name: Hartini Ab Ghani & Nur Arfah Octavia Jaffar

Age: 27

CEO of: Ola Lola

URL: www.ola-lola.com

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

We run an online business retailing accessories and apparel for ladies. What inspired us to be entrepreneurs was the sole idea of being our own bosses, also the thought of having our very own brand name appealed to us. Of course, needless to say, the love for accessories also contributed to this inspiration.

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

We work on our passion, sincerely, and everything falls into place thereafter. Patience is most definitely, a virtue. Believing in our dreams, having a positive mind and faith in ourselves would also be the baby steps to success.

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

The entrepreneurial mind does wonders to how we perceive life now. We are embarking on personal self-growth, independence and wisdom. Having an eye for detail and being meticulous, especially when we are working on a hand-made product, proves to be an all-important trait that eventually developed in us. The simpler pleasures in life now would mean seeing a satisfied customer putting on a hand-made Ola Lola product. What also keeps us going is the constantly widening circle of network, which starts off as customers who have now become our friends and acquaintances.

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

We started off well with a mediocre amount of money. Subsequently, as the business grew, we focused on sourcing for supplies at the most minimal cost. Family members have also helped in investing when the need arised.

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

No. We relied on accessory-making how-to books and our own creativity.

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

It took less than S$1k to kick-start our business.

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

The reliable Internet, self-help books and our creative juices contributed a great deal when we were starting our business.

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

Word-of-mouth, social networking websites, flyer distribution and outdoor events such as flea markets and bazaars are the most effective ways of marketing our product and brand name.

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?

Never let anybody tell you that you won’t be able to do it. A tiny voice inside you will insist that nothing is impossible. Listen to that tiny voice. You’ll shine better when you are passionate your own product/service and sincerely want the rest of the world to experience it the way you do. Set goals and put your plans into action. Create a personal motto and live by it. Play motivational words in your mind daily as a mantra. With all that said, it’s really fine to fail sometimes. You’ll never be able to savour the sweetness of success without knowing how failure feels like.

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

We believe being self-disciplined, determined and prioritizing works well for us.

11) What’s next for you?

Kicking into our fourth year now, we hope to launch an apparel line for men. A perfect picture of Ola Lola’s biggest goal would be a quaint little café with a savoury finger food feast, and a corner to display our accessories and apparel for our shopaholic patrons.

This week Entrepreneur

This week got owners of an online business.

I hope this will inspire and motivate us to start some thing.

So here is their sharing for us.

nisahlydia.jpg

Name: Sanisah Satiman & Lydia Sarip

Age: 35 / 28

CEO of: MsDollyLolly

URL: msdollylolly.multiply.com

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

Online clothing business. Friends that actually have such business and succeeded. Also because of our passion for fashion.

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

Know what we want, set a finite time to reach goals, know our priorities, know no failure and give one hundred and one percent.

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

Network of friends has grown larger.

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


Nope as our’s a small scale business. We started off with our own savings.

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

No one in particular. But our husbands are our pillars of support. Their constant encouragement and ideas spurred us on.

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

About S$5000 and it took us 9 months before we can see the profit.

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

The internet as well as ideas from friends and family around us.

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

Word of mouth, SMS, MSN and flea markets.

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?

Go confidently in the direction of your dreams. In the long run, we only hit what we aim at. Never, never, never, never give up . Make a success of living by seeing a goal and aiming for it unswervingly. You never really lose until you stop trying. Champions believe in themselves even if no one else does. In order to succeed, we must first believe that we can. They can because they think they can.

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

Know our priorities and faithfully keeping to the organized schedule.

11)What’s next for you?

We hope our business will somehow have the same standard and influence in a regular retail business. (eg. IPZone)