Tag Archives: Small Fish

WHY you should STOP Giving a discount to your customer?

7 Nov

Often enough customer will ask a discount from our business and because we want to secure the sales, we would just comply. But do you realise that every time you often a discount, it will cost your business heavily?

Watch this video until the end to understand WHY a discount will cause a huge negative impact on your business and why you should STOP doing it.

Also, if you know someone who offers too many discounts, do them (and me) a favour and send them a link to this video.
Do subscribe to my channel to receive more business ideas, tips and explanation.

#SmallFish
#ProfitMargin
#BreakevenPoint
#StopDiscounting

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Is #Motivation a waste of time?

30 Oct
A little boy is resting under a tree, and he noticed there is a fruit on top of him. He stands up and wanted to reach the fruit, but the fruit is too high above. And he starts to jump, trying his best to reach the fruit but again the fruit is too high above.
 
An old man walked by and saw the little boy jumping around to reach the fruit, he then walks near to the little boy and tries to encourage him to reach his goal.
 
He said something like:
“Little boy tries harder you can do it.”
“Stay focus, Yes you can do it.”
“Never give up, I know you can do it.”
 
The old man keeps encouraging the little boy with all kind of motivation phases but did not offer to help or provide a method to guide the little boy. Needless to say, the little boy gave up trying after many failed attempts and turned to the old man and said: “Thanks for the encouragement but the fruit is really too high for me.”
 
Moral of the story:
Motivation is good, it helps people to stay on course and stay focus. But a motivation without some proper guidance is just a waste of time. Many time team members need guidance from their leader on how to do something. The old man could have guided the little boy to use a long stick (tools) to reach the fruit or guided him on how to climb a tree (skills), instead he just purely motivate him.
 
You may argue the little boy should have considered another method of reaching the fruit after a few unsuccessful attempts, but I would argue that should the little boy have known of any other methods his would have done so. Many times we need guidance and ideas from the leader we followed.
 
#YouWanttoFeelGood? or #YouWantResults?
#MotivationWithoutGuidanceIsaWasteOfTime
#StopSendingMeChickenSoupQuoteEveryMorning

Best Design App for the Non-Professional Graphic Designer – Canva.com

27 Oct

Canva.com is one of the most popular and easy to use graphic design app (software) for the non-professional graphic designer.

In this video, Coach Leik Hong is going to show you how you can use this app (software) to your advantages.

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Improve Your Company Daily Productivity by 68% – Leveraging on Trello App

21 Sep

There are so many urgent and important tasks to work on every day, how do you manage all these tasks?

Have you ever used #Trello to help you improve your company productivity?

Not sure how to use.

Watch this step by step video to set up a #FREE @Trello account for your business and team.

Book Summary – Zero to One

19 Sep

Peter Thiel is the Founder & CEO of Paypal where he sold to eBay at 2002 for $1.2B.
In this book, Thiel shared 3 major keys on building a billion business.
1. Bet on a Contrarian Truth – A truth about how people will act in the future
– The Contrarian Question: “What important truth do very few people agree with you on?”
Steve Jobs – bet that people would want to use a keyboard-less smartphone, where during that time only a few people agreed with him.
Airbnb & Uber –  bet on traveller would want to stay in a stranger house & get into a stranger car.
“All failed companies are the same they failed to escape competition.”
Besides asking the contrarian truth question, you also need to make sure that whatever business you’re starting up it falls into the RIGHT TIME?
Even your hypothesis is correct about the Contrarian Truth, but if you start the business on the wrong timing (technology or human behaviour not yet mature, your business would fail either).
2. Start by Dominating a Small Market:
Amazon – wanted to start an everything online store, but Jeff Bezos did not start Amazon with that. He begins with a bookstore, which is much easy to operate & less costly. While he accumulated many loyal customers and cash flow, he then explores the adjacent market (CDs & DVDs). Slowly and steadily Amazon is dominating one market segment at a time and now become the everything store.
=> Don’t try to get 1% of a billion market, instead get 80% of a million market.   
“Whoever is the first to dominate the most important segment of a market with viral potential will be the last mover in the whole market.”
3. Strike to a Monopoly
If you can scale fast and big enough, then you can play the monopoly games and dominate the market and generating massive profits.
But wait, isn’t a monopoly is something evil?
Google is a search engine monopoly, they made so much money from their business. But at the same time, they are also a company that funded many social responsibility projects like a self-drive car, free tools available and even free internet to some part of the world.
  • a business need to make enough profit in order to stay in business
  • use excess profits to give back to society
The 4 Monopoly Methods:
  • Brand Associate – Apple (if you think of a fashionable electronics, Apple always come into our mind. Apple has a strong brand associate in customer’s mind while others are hard to compete)
  • Technology Advancement – Google (the search result is 10x better than competitors)
  • Network Effect – Facebook (high switching cost, since most of your friends, are already on FB, it make it so much harder for other competitors to compete with you)
  • Scale – Amazon (Amazon can offer a free shipping on a sofa while other will need to charge you a $50 shipping fees, how Amazon able to do this? Amazon has a very high leverage & margin on the product sales due to their economies of scale, which they operation cost & breakeven point of the company is low. They have no problem paying the shipping cost while still generating massive profits)

Sell Me This Pen

4 Sep

Often you heard people were tested with this sales phases: “Sell Me This Pen“, in the event of a sales training, conference or even an interview for a sales position.

And you can see the participant is doing his/her best to sell the pen back to the person who is handling the pen to him/her.

Very often, you would find many of them did it all wrong.

So what is the magic behind this sales technique?

How do we actually sell this pen? (or just any product)

Here we are going to break down the sales process and reveal the magic behind the curtain.


CEO: Do me a favor, sell me this pen. (reaches across to hand me the pen)

Me: (I slowly roll the pen between my index and thumb fingers.) When was the last time you used a pen?

CEO: This morning.

Me: Do you remember what kind of pen that was?

CEO: No.

Me: Do you remember why you were using it to write?

CEO: Yes. Signing a few new customer contracts.

Me: Well I’d say that’s the best use for a pen (we have a subtle laugh).

Wouldn’t you say signing those new customer contracts is an important event for the business? (nods head) Than shouldn’t it be treated like one. What I mean by that is, here you are signing new customer contracts, an important and memorable event. All while using a very unmemorable pen.

We grew up, our entire lives, using cheap BIC pens because they get the job done for grocery lists and directions. But we never gave it much thought to learn what’s best for more important events.

This is the pen for more important events. This is the tool you use to get deals done. Think of it as a symbol for taking your company to the next level. Because when you begin using the right tool, you are in a more productive state of mind, and you begin to sign more new customer contracts.

Actually. You know what? Just this week I shipped ten new boxes of these pens to Elon Musk’s office.

Unfortunately, this is my last pen today (reach across to hand pen back to CEO). So, I suggest you get this one. Try it out. If you’re not happy with it, I will personally come back next week to pick it up. And it won’t cost you a dime.

What do you say?

CEO: (picks jaw up off floor)  Yes.


See how simple that was. The CEO loved it. Why?

Because all four sales skills were displayed.

Here’s the simple sales framework I used to answer “sell me this pen”. Memorize it for yourself.

  1. Find out how they last used a pen (gather info)
  2. Emphasize the importance of the activity they last used a pen (respond to info)
  3. Sell something bigger than a pen, like a state of mind (deliver info)
  4. Ask for the buy (closing)

Does that make sense? Yes. Ok, good.

 

Conclusion

Remember, it’s not about actually selling a pen. It’s about showing how well you can sell a product.

 

#SellMeThisPen

#SalesTechnique

#WolfofWallStreet

#JordonBelfort

Interview with City Plus FM 106

16 May

With great honour to be invited by Emily Ng CITYPlus FM to her hosted show. During the interview, we talk about how local SMEs and businesses can leverage on Alibaba.com (e-commerce) to get more customers from the overseas market.

I also shared about my journey and experience on how I transformed myself from an engineer to become a business coach and recently becoming one of the 3 certified Alibaba.com trainers in Malaysia.

My interview will be broadcast on May 21 & 28, 5:00pm (Monday) on CityPlus radio, you can opt to listen from CityPlus Apps or Youtube.

Yes, the interview is done in Chinese.

完成了两集与 CityPlusFM《全球华人》的电台录制,感谢佩玲的邀请让我有机会与各位听众分享我的一些亲身经验,如何从一名工程师转变成为一名企业教练与最近成为首三位在马来西亚 Alibaba.com 的认证的讲师。

我在访谈中分享了我们本地有许多非常有实力与特色的中小企业,他们都可以通过 这个平台来与世界对接把产品卖到国外去。我的使命是为了更好的帮助我们本地的企业作的更好更强。

这次的访谈将会分成两集的播出,分别在 5月 21 & 28号,5:00pm(星期一),你可以通过 City Plus FM106 收听或者是通过它们的 Apps 或 Youtube。

#SmallFish
#CityPlusFM106
#AlibabaGETTrainer
#阿里巴巴
#现在是更容易的把企业作大作稳

10 Steps How I write & published a book?

8 May

Self Publish a book – if one of your dreams is to write & publish a book someday, I may suggest a few quick tips for you without engaging a publisher.

This was how I got my first book – “Small Fish Conquering The Big Pond”, published back in 2014.

1. Pick a topic that you’re passionate 
2. Breakdown the layout of the book into a few chapters – ideally 6 – 8 chapters
3. Break each chapter down into sub-chapters – ideally 4 – 6 sub-chapters

Example Chapter 1: Creative Marketing
Sub-chapter 1.1: Marketing is about creating a difference
Sub-chapter 1.2: What is USP?
Sub-chapter 1.3: Finding your niche

*Don’t start writing your book until you have completed the layout of the book from the first chapter until the last.

4. Start writing your book (this is where the real challenge begin and kills-off most aspiring authors)
Instead of sitting in front of a computer and start writing, I took out my phone and recorded the contents of the book using an audio recorder, chapter by chapter. I just said what I feel like saying and what should be included in the chapter.

5. Then I passed all my recording to a copy-writer who help me converted the recording into text. This was how I first drafted my manuscript and begin editing the entire book with the help of my copy-writer.

*If you choose not to use a copy-writer, you can now opt for using temi.com. Temi is an online voice to text converter, it only cost you $0.10 per minutes.

6. Your goal is to have about 2000+ word per chapter and combining all the chapters you would have a book about 80-120 pages in A5 size format.

7. Once you have done with your manuscript, passed it to a graphic designer to get the book done from cover to cover. (This was what I did back then)

*Or you can opt to use online software like designrr.io to help you design and layout your book.

8. In the same time, you need to apply an ISBN (International Standard Book Number) & CIP (Catalogue in Publishing) for your book to be officially published. And if you’re from Malaysia, you can apply ISBN & CIP from our National Libabry (http://www.pnm.gov.my/index.php/pages/view/18), follow the guiding steps from the website, download the forms and submit the required documents will do.

*Take note that the application of ISBN and CIP in Malaysia is FREE, some nonsense consultant out there is charging RM 2,000+ to help you apply. #BeCareful

9. Proofread, make sure everything is correct.

10. Printing – 2 options:
(a) if you wish to print your book in large quantity and send it to the bookstore to sell – go for offset printing, lower in cost when you go for large quantity (2000 copies) and have better finishing quality.

(b) if you just wish to print in low quantity and sell it on demand – then go for digital print (minimum print is only 20-30 book/print).

or (c) just convert it to an Ebook format

Happy Writing and Publishing.

#InspireMorePeopleToWriteABook
#BecomeAnAuthor
#MalaysiaBookAuthor
#SelfPublishing
#LiveYourDream

Alibaba Hangzhou Dream Trip (Part 4) – Final Chapter / 阿里巴巴杭州之旅 (完结篇)

18 Mar

 

I have met many amusing new friends and learn many things during this trip, having the privilege to visit Alibaba’s office campuses (both Bingjiang & Xixi Campus), as well as Hema supermarket, was indeed an eye-opener for me. But having the honour to have a visit Jack Ma’s Tai Chi Zen Garden was truly an amazing experience.

This Tai Chi Zen Garden located in one of the reserve Wetland Parks of Hangzhou, Jack Ma has built a villa and turned it into his Tai Chi Zen Garden, where he come and learn and practice Tai Chi.

As you can see from the photos attached, the Tai Chi Zen Garden is a very beautiful place, it kept many Jack Ma’s personal belonging, souvenirs, paintings, calligraphies and the photos of some world leaders, celebrities who have visited this place.

Even though we do have not had the privilege to meet Jack Ma in person, but we the honour to meet his personal assistant – Mr Chan Wei, who is also the principle of this Tai Chi Zen Garden and the book author of “This is Jack Ma”.

If you are in Hangzhou, then West Lake is a place you must visit. Despite our busy schedule, we do have the chance to have a boat ride on the famous West Lake on the last day of our journey. the weather was cold, but all of us were warm in our heart, enjoying the beautiful scenery and wildlife.

I have learned much new knowledge and tactics about e-commerce and when e-commerce is incorporated into the new technology of big data, mobile apps, logistics, retails and others. What will be the future of e-commerce look like? And how is it going to help change and shape the world? I guess everyone is still in the exploring stage, including Jack Ma and Alibaba. I do hope Small Fish and myself could contribute a little to our local SMEs in this area.

Lastly, I would like to express my sincere thanks to all my new friends (Malaysia, China, Thailand, Indonesia, Korea, Russia) whom we have much fun together. Let’s stay in touch and hope to visit you in the near future.

Thank you.

– The End –

————————————————————–

在这最后一篇的文章里,就让我总结一下这次对杭州之旅的感触和一些小趣事。

我们除了在阿里巴巴的两大园区(滨江和西溪园区)上课和作项目讨论、参观“盒马鲜生”这个新零售超市之外,最让我深刻印象的莫过于有幸被邀请参观了马云的私人太极馆——太极禅苑。

这座“太极禅苑”座落在杭州一个湿地保护区里头,马云在那儿盖了一栋别墅,并改建成为“太极禅苑”,主要是推广太极文化,建立新文化圈子,融合道家、儒家、佛家文化,以儒释道理念之本来做企业管理。

有如你在以下照片中看到,环境真的非常优美,我们还在里头学习了我人生的第一场太极功夫,真的是很棒的体验。在苑内,摆满了马云或阿里巴巴各式各样的纪念品、画作、书法以及各国名人、领袖到访过的照片等等。

虽然,我们无缘见到马云真身,但我们还是在苑中接触了马云的私人贴身助理~陈伟。他同时也是“太极禅苑”苑长,以及“这就是马云”这本书的作者。(当然抓紧机会,赶快和他拍照留念)

除了“太极禅苑”,另一个非常优美的景区就是杭州西湖了。在我们繁忙的行程中,也偷得浮生半日闲登上了西湖的小船,在湖泊中慢行了一个小时左右,在春天的凉爽气候中游西湖果然是一件乐事。当然,也少不了品尝西湖著名的龙井茶。

除了在阿里巴巴身上学习到许多电子商务的新知识之外,还大开我对阿里巴巴和电子商务的眼界。当电子商务结合了互联网、大数据、物流、零售业等,到底在未来还能为这世界做出什么样的贡献?目前来说,还没有人会知道,就连马云和阿里巴巴也在探索、在研究中。当然,我也希望在这个时代的来临时,也能为我们马来西亚的中小企业付出一份力。

最后的最后,我也想要对这个短短几天的旅程中所结交到的朋友(来自马来西亚、中国、印尼、泰国、韩国和俄罗斯 )说声谢谢,感恩有你们的相伴,同时也感谢大家在这几天教会我很多新知识,希望有缘再聚。

谢谢。全篇完。

#SmallFish

#Alibaba #阿里巴巴

#Entrepreneurlife

11 – 让客户说YES

5 Dec
Small Fish _ Leik Hong
作者:廖翊翃

标题:让客户说YES

继上一章“您要付现金,还是信用卡?”专栏提及的销售模式,这次就为大家解开为何该名香港女销售员那么轻易的就让我买了原本就不打算购买的衬衫。她到底用了什么技巧呢?

很多踏入职场的朋友,会选择销售性工作为第一行业的,相信并不多。原因很简单,销售确实是一件不容易的差事。根据统计,平均一位销售员会碰到七次客户说”No”,过后才会遇到一次”Yes”。换言之,会有七个人拒绝你的推销,只有一人答应听你的解说,但未必会跟你买产品。因此,要成为一位顶尖的销售员,是需要经过一些的培训,以及大量的失败经验所促成。

从笔者过往处理的各别客户个案中,所整理出的客户“失败经验“如下:

(一)要认清谁是你的销售对象?不要见到人就卖,销售员的工作并不是要把产品卖出去,而是要协助客户作购买的决定。一位只想卖产品的销售员,只想把产品卖了,赚取佣金。然而,一位真心帮客户解决问题的销售员会站在客户的角度去思考,帮对方解决问题,来达到销售结果。

(二)顶尖的销售员并不必要有很棒的口才,但他必须有很好的聆听力。你是要真的用心聆听,才能了解你的客户到底要的是什么,而不是喋喋不休的一直讲你的产品有多棒,你的产品有多好。聆听,是销售成交的重要一环。

(三)如果你是需要与客户预约,可以在打电话之前把自己要表达的内容或要点,用纸笔写下,把它变成手稿。此举一来你在打电话给对方的时候,减少出错的机率,同时也增加自信心。还有,在约客户见面时,千万别问客户:”什么时候方便见面”,因为您的这种问法会令客户有机会说“没有空”。有技巧的问法可以是“星期三或星期四,早上10点,哪个时段比较方便您?”,你让客户在A或B“选择题”里,二选一。如果不行,再让对方选择C,即是“不如星期五,下午两点如何?”,总之就是不要客户太轻易的拒绝你。

(四)A或B的提问模式,亦可以运用在接近成交的时候。当销售进入最后阶段,销售员就要去成交这笔交易,如果你不去问客户是否要购买,他会说:“再考虑”,因为他并不急着要跟你买,或急需要这产品。此刻,你就要尝试去成交这交易,比如说:“请问先生你是要付现金还是信用卡呢?”、“或者您要下周二或周三送货”等等有技巧性的问题。

切记,如果客户已决定要购买了,就不要再介绍类似的产品,混淆客户的选择。