This Week Entrepreneurs:Gifts Work & Ideas

Hi Sisters and brothers,

AbangAbu had recentlly had the support of 2 poly students who helped my in making this segment even more lively by having video’s and photo of This Week Entrepreneur Segment.

Today AbangAbu would like to showcase a businessman who been running gifts shop in Golden Landmark for few years.

AbangAbu believe this time of the economy situation will be a help for us to learn from each other to improve ourselves. So enjoy the interview and also drop comments if you have questions to ask or even simple inspiring comments for all of us.

The Gift Work & Ideas at Golden Landmark

Ideas for berkat and wedding gifts

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Name of Shop: Gifts Work & Ideas

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

We are selling souveniers for weddings and also corporate gifts. Corporate gifts are gifts given by companies during dinner dance or events for their workers. This area is very wide. For example 90% of the malay community are my customers and 10% are of different races. This is where the corporate gifts comes in. We do not just focus on one ethnic group.

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

It is a must. Without focus, it is very difficult to achieve success. To be involve in business, we need to have the knowledge on the business that we are running. Don’t focus on one ethnic group like focusing on the malay community only. This will restrict our sales.

Have you notice a certain advantages to being an entrepreneur?

Yes, there are a lot of advantages. Firstly, one has to be very wise in making his/her own decision. Secondly, there is flexibility in terms of working hours. The time is not fixed unlike office hours. Thirdly, in terms of money, you need to be hardworking in order to earn more which mean working overtime.

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

So far, thank god, there is no problem.

Did you have a mentor to help you get started?

She is not really a mentor but she is someone very close to me who is my wife. Therefore my wife have to sacrifice a lot in order to work well with me.

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

I invested approximately around $85,000 but I have to have a strong backup in my bank at least $25,000.

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

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

Having a website is important. Since nowadays, youngsters tend to surf the net to look for their wedding gifts as a preparation for their wedding. Secondly, placing an advertisement in newspaper did help in our business to a certain extent. We can also distribute flyers to people. Lastly, using the mouth to mouth contact where the impact is greater.

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?

Firstly, we need to have a focus mindset. We must be serious in what we do especially in this business line. Because most people think about the sales profit. So when obstacles occurs, they are not ready and brave enough to overcome them. In terms of money wise, you have to be mentally prepared in the future.