Leverage your business June 10, 2009

Trading Tuesday: Leverage your business

When I first started being a self-employed person, I learnt the concept of leverage. I knew how important it was to build a leverage for myself, since self-employent has numbers of limitation for expansion. In my case, since I am the only one who can teach the dance – therefore the number of income I can make is limited to the number of classes and women I can teach.

For the longest time, I am finding a way to find a leverage for myself.

Until early this year that I decided I need to teach new teachers for my leveraging strategy. By teaching new teachers, I can reach more women, and by that, even without me teaching them directly, I will still be able to expand my classes. One of the beauty of this startegy is, I am also creating job opportunities for other women.

Alhamdulillah, the first class that was taught by my teacher that I trained happened today. I am so happy to see this person grows in leaps and bounds from just a mere student to a confident and resourceful teacher.

I am going to keep on working and strategising on building a few ways to leverage myself and my business. What about you?

For more information on Elwarda Dance Teacher Training Programme please visit Elwarda Dance.

© Copyright Naziehah June 2009

Make things easy June 2, 2009

Trading Tuesday: Make things easy

As I was walking in IKEA with my little brother yesterday, I thought of a concept of ‘making things easy for people’. The concept that is applied very apparently in IKEA’s business.

IKEA made it easy for us to buy furniture by making them flat-packs. We can easily tucked in 4 flat-packed chairs in our car (yeah, that’s me). Can you imagine forcing 4 normal sized chairs in a car?

It inspires me to always exercise this concept in my business and also in my dealings with people. One of my mother’s word of wisdom - If you make things easy for people, people will make things easy for you.

Therefore, if you find difficulties in your business dealings, or even with your everyday encounters with people,  do check within yourself – do I have the tendency to make things difficult for other people too? Have I tried hard enough to make things easy, to simplify, to help as many people as possible?

Let us all work diligently to ‘make things easy for people’ to improve our business and our daily life experiences, insya-Allah

©Copyright Naziehah June 2009

Be nimble March 10, 2009

Trading Tuesday: Be nimble

As I was teaching my belly dancing students the importance of having ‘nimble feet’ when you dance, I suddenly thought of how the same principle applies in business too.

I think it’s important for people in business to be nimble. To be agile. To be able to move swiftly and elegantly from one position to the other. To be alert and aware.

We are living in an extremely fast-paced time and the ability to go with the flow thrivingly and change effortlessly is crucial. We should not let ourselves and our business be slow and sluggish.

Think of our business like an agile running horse and we are the expert rider that are able to steer it left and right swiftly and elegantly while still charging ahead at lightning speed.

In light of being nimble, one aspect that small business owners and entrepreneurs need to also bear in mind is the exit strategy. It’s not only for the big guys you know! Knowing when you want to leave your business, either to start a new one, or to move your business to another level will provide you with a clearer sense of direction and focus in your business.

Let’s all work on the nimbleness of our businesses, and I’ll do that while also working on the nimbleness of my dancing feet

© Copyright Naziehah Mar 2009

The spending history of a certain budding entrepreneur March 3, 2009

Trading Tuesday: The spending history of a certain budding entrepreneur

I was feeling a bit down because there’s this thing that I really want to go to. It’s some thing that I would really enjoy, not just because it was one of my passion but because I would be able to do this with a bunch of my favourite girls.

But as for now, I can’t because..I am an entrepreneur.

As a self-employed/entrepreneur, the upside is – your time is yours. You have more flexibility in working and routine is less rigid. (but oh yeah, there’s still routine). But the downside is, and especially if you are a women entrepreneur – shopping or spending will become a completely different word to you.

Just only a few years ago, I was a true-blue shopaholic. I was a ‘bag’ girl. My closet is crammed with all sorts of bags that I just ‘have to have’. From new ones, to funky ones, to hippy ones, to second-hand ones – oooh, I must, must have them all! Don’t even get me started on Boxing day sales. My Boxing Day conquests and receipts are long and legendary. And Sophie Kinsella of the Shopaholic series is my soulmate.

Fast-forward a few years, I decided to start my own business, and baaaaaam – I am as stingy as a well, who’s stingy? I am new at this stingy thing so I don’t have a good example.

No, let’s not use stingy. Let’s find a better, more positive word. Yes, responsible spending. And as annoying, and as fun-sucking, and as boring this word is – it’s a trait that not only entrepreneurs, but all people must learn to cultivate. (if you are already that, I applaud you, which school did you go to?).

Since I am still slowly and painfully learning to be a responsible spender, not BIIIIG SPENDEEEER (to the tune), let me just quietly tuck my face in yet another business book and read away.

Bye-bye girls..*sob-sob* *srrooooooot*
Have fun..*uwaaaaaa*

© Copyright Naziehah Mar 2009

Discuss business February 17, 2009

Trading Tuesday: Discuss Business

I had a great business discussion last night. It was an online discussion between me and my business associate in the US. How convenient doing business now huh. Want to have a meeting? Let’s do it online! No need for power suits, I am in my pyjamas, after meeting straight to bed! Since the meeting also starts at 9.30pm Malaysia time

Business discussion is very important for this is the time when one can learn more about our own business. By exchanging ideas and sharing feedbacks, we will gain better understanding at what we are doing and how we can improve.

For example, l had done my own market research for a few weeks for this certain product I want to start selling. My prediction was confirmed by my business associates when the target market that I concluded is indeed, the correct customer base. Via our discussion, I also learnt a little bit more about the customer, their wants and their aspiration.

I am grateful that I found a good business buddy that I can have a good discussion with. Since I am still in my very early stage of developing my business, there were many things that I am unsure of and roadblocks are aplenty. Having a good understanding friend to share this with is a very, very good thing for people in business.

If you are in business, or thinking to start a business – do find your business buddy and discuss away! Find somebody who shares similar goals and values, but preferably have different skills and strengths. In that way, you can complement each other and it will benefit both of you better.

Happy Trading Tuesday!

Circle of life February 10, 2009

Trading Tuesday: Circle of Wealth

As the moon and sun rotate in a circle, so do almost everything in life. The path of living thing is rarely straight but rather a wavelike motion of ups and downs and circles. When there are circles and waves – there’s movement. The world need movement and energy to function in balance and when the motion gets disrupted somewhere, that’s when chaos and calamity are bound to happen.

Similar with the economic condition of the world now, the circle is slowly going into a halt. If we look at the big economy of the world, we can liken it to the big circle. Now that the big circle is having difficulty spinning, what are we to do? Should all of us keep waiting for its slow and painful turning? Since it’s big and muddy now, the rotation is slow, the energy needed to turn it around is huge and it may take a while. But, we still need to get some circles going because we need the movement!

What can we do?

We can start working on creating and building small circles. Small circles that will keep the movement flowing. Why is it worth and more efficient to work on smaller circles now?

In laws of physics, energy that is needed to rotate smaller circle is smaller than the bigger circle. Therefore, it’s more manageable. Almost everybody can spin a bicycle tyre but only hulks and giants can spin fat tractors tyres!

This is where entrepreneurs come in, small business owners. We come in to spin the circle. To keep it spinning and churning the much needed energy and to maintain the much needed movement. Focus should be put on local economy and creating sustainable small scale industry.

When is the best time to do it? I believe more than ever, the time is NOW.

©Copyright Naziehah Feb 2009

Turning dreams into profit January 27, 2009

Trading Tuesday:  Turning dreams into profit

A few years ago, one of my dreams is to teach belly dance to women. Let me tell you the story.

I was an over-worked, over-stressed and under-talented student of accounting and finance. Having to compete with brains from all over the world in one of the UK’s top business school was pushing me over the edge, one calculator click at a time.

For the sake of my sanity, I looked for a physical activity that I can do or learn – and I found belly dancing!

The reason I chose to learn belly dance is because it was taught in an all women class. I don’t need to worry about clothing and partnering and stuff. Easy peasy, I thought.

Little did I know that I will find freedom and happiness in belly dancing, or the more appropriate name, Middle Eastern Dance. Then and there I decided that my dream after I graduated – is to teach Middle Eastern Dance to women.

(picture of the opening performance by me and my students during  my last hafla)

Armed with a degree in accounting and finance, and only my hip, I knocked on doors offering to teach Middle Eastern Dance to women. It was very difficult at first, but I was determined to live out my dream, and praise to Almighty, live out my dream I did!

A few years down the line, not only I am living my dream, but I am also making profit out of it!

I believe that all dreams can be turned into reality, if you want it bad enough. Start working on your dreams today and see where it will lead you. If you do it right, it might also lead you to a path of profit

Do check out my Middle Eastern Dance business blog, Elwarda Dance. And while you are at it, do check out my Online Accessories blogshop too, Elwarda Accessories.

Buy from nice people January 20, 2009

Trading Tuesday: Buy from nice people

We always buy our fresh groceries from one grocer in our neighborhood. I really like the shop as each time I came in, my nostrils will be greeted with the freshest smells from apples and oranges and pears. So so lovely!

But what we like most about this grocer is that the owner is a very nice lady. She is so nice to all her workers and treated them like families. And it is all reflected by the energy in her shop. Her workers are always very happy, helpful and smily. Most of them were foreign workers but they radiated with sense of confidence and fulfillment that can only be obtained when they were treated right by their employer.
In a span of few months after opening, this owner has already shifted once to a bigger store and her customer base is growing everyday!

Truth is, people like nice people. And people like buying from nice people. It is something very inherent in our nature. When we see goodness, our heart warmed to it. When we see justice and fair treatment, we feel like supporting them even more.

Lately, there’s much talk about boycotting products from Israel and America. Some will base their intention on religion, some on humanity responsibility and of course as with every issues, some will also oppose the action of boycotting.

As for me, my reason is always simple. I buy from nice people. And I would work very hard to find nice people to buy from.

So when I decided to buy only from nice people, I need to look for them. I need to look for business people who’s nice, and fair, and just. I need to look for companies who uphold nice, and fair and just values. Companies that is not biased to any one race or religion or nation. Good companies that sell good quality products.

I have read somewhere that in today’s world where there is so much cruelty and nastiness going on, kindness and niceness has become a rare quality. And when something is rare, the value will definitely goes up.

Think about it entrepreneurs/aspiring entrepreneurs..or any good and nice people out there. Do we see opportunities? I think so!

******
Image from here

Fill that gap December 23, 2008

Trading Tuesday: Fill that Gap

One of the true purposes of entrepreneur is to ‘fill that gap’. In a market there’s always an unfilled demand. No one consumer is alike so chances are there are many consumer’s need that are not fulfilled by the existing market. Especially now, when consumers are becoming more sophisticated, more discerning – the opportunities are opening left, right and everywhere!

For example, in my Elwarda Dance business, I am filling the gap of the need for fun and gentle exercise for women. Since Middle Eastern Dance/Belly Dancing is a low-impact exercise, women with low level of fitness and women of all ages can easily enjoy the acitivity. When I taught  in a gym/fitness centres before, I saw that  most of the classes were mainly geared to the young and fit. Therefore, by me offering a Middle Eastern Dance/Belly dancing class to women, I am fulfilling the need for fun and low impact exercise for women.

Another gap is the all-women class. Some women are shy to work out in a mixed-gender gym. Therefore, there’s a gap – a need to have an all women exercise class. I also filled that gap by teaching an all-women class only!

Another gap is the need for privacy and exclusivity. Some women learn best one-to-one, and they need a personal attention which they can’t get in a group class. Therefore, I started a Personal 1-1 session at my home to fulfill this need.

There’s actually a few more gaps that I filled in operating my Elwarda Dance business. But I am thinking you already get my drift

Whatever business that you are in, or if you feel like starting a business, but you do not have any idea what to do  – think about those gaps. And go fill them up!

More than profit December 16, 2008

Trading Tuesday: More than profit

The term ‘entrepreneur’ has been tainted with many negative connotation. Greedy, irresponsible, money-orientated, blood-sucking evil – was among the not-so-nice names we’ve been called.

People always think that all we care is ‘the bottom line’. We will stop at nothing to make our profit. While there are people like this who dabbled in business, there’s an increasing number of entrepreneurs that seek ‘more than profit’.

Ever since I read ‘Banker to the Poor’ and ‘Creating World without Poverty‘ by Muhammad Yunus, 2006 Nobel Peace Prize winner and the founder of Grameen Bank, I was introduced to the concept of ’social entrepreneurship’. A  truly eye-opening and inspiring concept.

For years we were taught to define ourselves in one dimension while the fact is, human is multi-dimensional being. We love money, but we also love people. In fact, most of us actually love people more, but we were not given an avenue, a workable concept to operate ourselves. That’s why when I came across social entrepreneurship concept, I feel like a part of me is finally at home.

For me personally, I would  adopt some of the concept and applied it in my conventional enterprise. That’s why I started the Elwarda Asal collection in my Elwarda Accessories business. Through Elwarda Asal, I am able to work on an enterprise that is ‘more than just profit’.

I always feel very strongly about  people working hard to make their own living. I found it very humbling that these Orang Asal (indigenous people of Peninsular and East Malaysia) would find things in their environment and use it to create beautiful crafts and accessories. They did not have the same opportunities as us, to be born in the land of gadgets and trinkets.

I hope that by selling some of their products, they will be even more motivated to work harder and smarter to sustain themselves. I hope when I am able to sell their handmade accessories, they will realise that there are more than one channel of ‘rezeki’ for them. I hope they will realise that there are many people out here who cares for them and who loves them and who will support them in more ways than one.

(suddenly I became a bit emotional *sob-sob*)

I am still very early in my venture. I may make many mistakes but I aim to keep improving myself and work on creating a truly workable system for Elwarda Asal. I also aim to keep on adding a ’social entrepreneurship’ concept to all my future businesses, Insya-Allah.

********

Image from here

Image from here