Are there Secrets to Success in Business?

This forum is created to discuss broad Financial Principles pertaining to Personal Finance

Moderators: alvin, learner, Dennis Ng

Postby Dennis Ng » Mon May 17, 2010 9:05 am

What Business should you set up?

"Follow your heart", do what you Love is the Answer. Steve Jobs shared how this shaped his life and contributed to much of his Success...and I can also personally testify that my success started 10 years ago when I quitted my job to pursue my Passion:

http://www.youtube.com/watch?v=UF8uR6Z6KLc
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Postby jeffreychua » Tue Jun 08, 2010 11:20 am

Dennis Ng wrote:
spezlezz wrote:Ok. I'm interested too. Been working for others whole life. Time to venture out :D


Actually, it is perfectly alright to be working in a job and not be in Business. One can still reach Financial Freedom through Saving and Investing one's money. It is my opinion that not everyone is suitable to start and run their own business.

According to statistics from Registrar of Companies in Singapore, over 40% of businesses fail within 1st year, (they did not even bother to renew their business 1 year later). And some people estimate that over 80% of business cannot survive 5 years.



Dennis shared a very good book when i attended his stock seminar back in April. I managed to get the revised edition of the book. The title is called E-Myth Revisited by Michael E. Gerber. I am now at Chapter 6 of the book and I found that it offers many important consideration to be successful in a business. I hold a MBA with major in entrepreneurship and i can tell you this book offers insights beyond the academic aspect. Highly recommended for business owner-to-be!
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financial freedom

Postby investor10 » Tue Jun 08, 2010 2:34 pm

may I ask , what is the definition of financial freedom?

What % of return on one's retirement nest egg say X million $ is considered reasonable investment returns in financial field.

Investments can be mainly in property and stocks.
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Postby Stradlinz » Tue Jun 08, 2010 3:11 pm

For me financial freedom is not about getting debt-free etc. It's about the ability to generate active/passive income to sustain my lifestyle/expenses. It also means to pursue things that I have passion in without having to worry about paying my bills.

My thoughts on investments are that we should not be too rigid, as to look for investments that have a specific % gain in any given year. The important things are too look for undervalued and fundamentally strong investments, be it stocks/properties or other investments. Due to the cycle in business/investments world, it's quite impossible to target specific % return on yearly basis. I think investments should be measured on a longer timeframe eg. 5-10years, since that's roughly the time required to complete an economic cycle. Dennis has shown us all that it's possible to achieve return of 200-300% in the last economic cycle (2002-2007). So 200-300% return in 5 years is definitely possible if you practice what has been taught in the 3-day seminar.

Last time I always want to know how much return I get in any given year. Now what I'm interested in is whether my investments are overvalued/undervalued, fundamentals are still intact/good and the risks/rewards associated with the investments.

So the rest of the forumers care to share their personal thoughts?
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Re: financial freedom

Postby Dennis Ng » Tue Jun 08, 2010 3:46 pm

investor10 wrote:may I ask , what is the definition of financial freedom?

What % of return on one's retirement nest egg say X million $ is considered reasonable investment returns in financial field.

Investments can be mainly in property and stocks.


Hi Investor10,
in my opinion, the definition of Financial Freedom means that a person can choose to stop active working and yet has enough money set aside or Cashflow coming in to sustain the lifestyle of himself/herself and family.

So how much money is required depends on :

1. your lifestyle (how much is your expenses?)
2. investment return on your overall portfolio

Answer to question 1 and 2 will determine how much money is required. For me, having S$1 million and getting 5% means S$50,000 a year, is enough for my lifestyle, which is why I personally considered myself Financially Free when I accumulated S$1 million in year 2008.

My overall portfolio I aim to have at least about 8% or higher annual returns. I would personally think that it is possible for average person to have over 4% annual returns without knowing how to invest, but by investing into different investments eg. UK Endowment, etc, etc.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Postby star88 » Wed Jun 09, 2010 11:30 am

Hi Stradlinz,

May I know which 3-days seminar?

"So 200-300% return in 5 years is definitely possible if you practice what has been taught in the 3-day seminar"
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Postby wemakebread » Mon Jun 14, 2010 11:18 pm

Hi star88,

I think Stradlinz is referring to Dennis' seminar on Stocks & Property
Secrets to Making Money in Property Seminar (1-day)
Secrets To Making Money in Stocks Seminar (2-day)
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Postby cellobear » Sun Jul 11, 2010 11:53 pm

Hi Dennis,

I would be interested in attending your business seminar if you ever think of creating it. I agree though that not everyone should run a business and neither is it necessary to do so to reach our financial goals.

Cheers,
ch.
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Postby OCP » Thu Mar 03, 2011 1:04 pm

Hi Dennis,

Are you still planning to conduct Secrets to Succeeding in Business? I'm still waiting for your good news!

Cheers
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Postby Dennis Ng » Thu Mar 03, 2011 2:15 pm

OCP wrote:Hi Dennis,

Are you still planning to conduct Secrets to Succeeding in Business? I'm still waiting for your good news!

Cheers


Hi OCP,
unlikely to be in year 2011, as our calendar already filled with the 3 seminars we currently have.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Postby Bun » Sat May 14, 2011 2:23 pm

I will be interested to join if there is such a seminar too...
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Postby Renny » Fri Jul 08, 2011 2:05 am

Count me in
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Postby Melvin Lee » Sun Jul 17, 2011 12:29 pm

Hi Dennis,

If you still need the numbers to plan for the seminar, count me in too ! :lol:
Cheers and enjoy your day !
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Postby Dennis Ng » Sun Jul 17, 2011 1:33 pm

Melvin Lee wrote:Hi Dennis,

If you still need the numbers to plan for the seminar, count me in too ! :lol:


Hi Melvin,
thanks. Most probably we will only launch such a seminar sometime next year, as my next priority is to write and publish my 3rd book, which will be 100% in English.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng
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Posts: 9781
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Location: Singapore

Postby Albert » Sun Jul 17, 2011 11:22 pm

Count me in too
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