《成功企业家读书会》父亲节大优惠!1人买单,2人共享!

FMCO没完没了,疫情仿佛看不见尽头,老板,你要撑住!
企业就是你与整个团队的一艘船,你是船长,在面对如此的巨浪时,你必须想方设法,不能让这艘船沉没!
你要带领团队一起克服困难,咬紧牙关在逆境中突围。要怎样找到突围的方法?
你与团队都需要多读书!多读书,才懂得思考、反省、检讨和研究,并能找到更多应对策略。

配合父亲节,也为了协助你找到更多振兴企业的方法,我们特别推出《成功企业家读书会》“买一送一”大优惠!凡在即日起至6月30日订购此读书会一年的会员,再送你多一个一年的会员证。你可以送给你的团队、伙伴、长辈、朋友或家人,让他们跟你一起进步,坚定地跨过这道坎!

订购1年《成功企业家读书会》会员的5大好康:
1)免费多获一张1年的会员证(送给你的伙伴、团队、家人或朋友)
2)可读高达24本助企业成长的书籍
3)免费3堂傅家义授教的线上“成功企业家课堂”
4)免费1场《品红酒·品企业》活动
5)获1年成功企业家思考手册

*只限于即日起至6月30日的首100名订购者!!马上行动 >> http://bit.ly/bcfb1056

老板,在FMCO时期,如何让员工上下一心,拥有同舟共济的精神,且士气高昂地为公司效力?
如何找出公司里所有人的问题?
身为领导者或主管如何做好决策?

在《成功企业家读书会》里,其中一本书《这是你的船》将为你提供整顿上下员工士气与能力的方法,让领导与员工找到一致的方向与策略,百分百为企业效力。

另外,这段日子里,员工都居家工作,你是否担心无法提升执行力?怎样的执行力才能跨过设定的策略与现实的鸿沟?

读书会里的《执行力:没有执行力,哪有竞争力》著作,将引导你使用高效的方法提升员工的执行力,让公司在这个危机时刻更能顺利完成所有计划。

在这个艰难时期,企业的向心力与执行力都是不可或缺的动力,唯有这样才能使企业更快度过难关与更快恢复之前的状态。

马上点击链接观看【成功企业家读书会】试听版。
👉http://bit.ly/bcviplks 从贫苦推销员到华人首富:李嘉诚的人生智慧
👉http://bit.ly/bcvipship 这是你的船
👉http://bit.ly/bcvipexec 执行力:没有执行力,哪有竞争力

三位导师为你导读及引导你解决企业难题

这场读书会由三位导师即中国100强导师傅家义博士、YYC总裁Datin Shin和中国报执行总编辑罗依薇,通过Videobook的方式为您导读对企业最有用的书,让您不用花太长时间就能得到全球成功企业家的经商法则。每星期只需要20分钟,就能让您磨刀,吸取成功法则与方法。

此外,导师们也会在思考手册里,教导你如何把书中的方案与法则套用在你的企业上,让你更具体地掌握书中知识,也让企业问题得到真正的解决。

马上订购《成功企业家读书会》1年,让你与伙伴一起吸收对企业有用的知识,打造出不一样的企业

订购1年《成功企业家读书会》会员的5大好康:
1)免费多获一张1年的会员证(送给你的伙伴、团队、家人或朋友)
2)可读高达24本助企业成长的书籍
3)免费3堂傅家义授教的线上“成功企业家课堂”
4)免费1场《品红酒·品企业》活动
5)获1年成功企业家思考手册

*只限于即日起至6月30日的首100名订购者!!马上行动 >> http://bit.ly/bcfb1056

百年多次危机袭击,Panasonic如何一一闯关?

全国大封锁又延长14天,相信很多老板都已预料到。
两周又两周的封城,对企业来说是一项无可奈何的重创。
您现在该做些什么补救行动呢?还是继续怨天尤人和坐以待毙?
这正是考验您企业如何面对逆境的时刻。

世界500强的日本企业Panasonic的创办人松下幸之助说过:“逆境能锻炼一个人,也能摧毁一个人。勇敢的人,把逆境当考验,始终保持热情,紧咬牙关,一步一个脚印,走得艰难却也坚实。懦弱的人,总在试图寻找捷径,或梦想不劳而获,唯独不敢直面困难。”

企业如何面对史无前例的重创?马上参与《六月围城之审时度势,突围而出》线上研讨会,让YYC总裁Datin Shin教您使用应对战略,来处理现金、贷款、成本及销售的急迫问题,以助企业度过难关。

马上报名 >> https://www.seminar.yyc.my/shinwebinar-mco3

松下幸之助在1918年创办Panasonic,这家如今市值268亿美元的企业在百年来都面临了不少危机。但每一次都勇敢地与灾难“握手”,每一次危机都能化解,且危机过后公司如同一棵长青树般,再次充满生机与活力。

危机1:1929年全球经济危机

当时日本市场一片萧条,Panasonic的产品销量锐减,库存激增,经营步入困境。其他企业都设法裁员,松下却决定生产减半,工时减半,不解雇任何一名员工,员工薪金还按全天上班时间照发。同时鼓励员工上半天工作,下半天可自愿选择出去帮助公司推销库存产品。这一举动让全体员工有了同舟共济之感,许多员工拼命去工作。短短两个月时间,堆积如山的库存产品就销售一空,工厂也恢复了正常生产。

危机2:1945年日本二战败北

1945 年日本战败后,美国对日本进行接管。由于美国的管控,银行贷款全面取消,Panasonic生产不能正常进行。当时,他们欠下高额债务,员工工资发不出来,导致许多人离职。艰难时刻,松下幸之助不气馁地说:不景气时,正好可以思考、反省、检讨、研究。这一思索,可能好计划、好主意就源源而出。
1951 年,随着美国对日的各项限制解除,日本经济开始复苏,Panasonic情况也逐渐好转,摆脱经营危机。松下幸之助表示,在狂风暴雨中,Panasonic终于重新站起来了,他呼吁要以「今天重新开业」的心态开展经营活动。

危机3:1973年全球石油危机爆发

依赖海外资源的日本企业无力应对,赤字如瘟疫般在日本企业蔓延。Panasonic也陷入严重的困境。危机时刻,松下幸之助冷静分析,沉着调整各种经营战略,模仿世界上最好的电子产品,并比别人做得更精、更好。他用仿造生产的产品成功地打入市场,挽救了濒临倒闭的工厂。松下幸之助再次度过了危机,并以更大的气魄进军美国市场。

“水库式经营”为变化储存资源

松下幸之助经营Panasonic,很重视“水库式经营”。这经营方式就是从一开始就保留一定富裕量的经营模式,如同把水蓄在水库里,根据需要慢慢放出一样,让设备留出一定的富裕,在需求发生变化的时候,合理调整设备的运转,以避免出现产品供不应求或供过于求的情况,保持经营的稳定。不仅是设备,资金、人才和产品库存都是同样的道理。

身为企业家,该向松下幸之助看齐重视“水库式经营“,这样在面对各种变化时,才能轻易找到资源,特别是要准备更多现金去应对。增加现金流就是每家企业必须一直执行的措施。企业到底要怎样做好提升现金流呢?

危机4:Panasonic 在2001年亏损4278亿日元

Panasonic多年来缺乏战略的盲目投资,并且出现了业务和资源重复,造成投资效率低下。他们所投入的液晶、等离子产业,投入了大量资金,但是获得的现金流回报却非常少。
同时,日元的升值,导致Panasonic的国际竞争力下降。因为业务的成熟化,中国和韩国产品的进口对它产生了极大的冲击力。

当时新任的总经理中村邦夫发起了以下改革措施。

a) 聚焦高毛利产品:
当时的电浆电视(Plasma TV)、DVD录影机、手机产品等都是Panasonic的“V商品“,即与其他业者相比是最具竞争力的产品。他们都把资源集中在这些产品上,夺回失去的市占率,以确保高收益。

b) 重组总公司的部门与管理层:
总公司废除了原有的部、课体制,使松下总公司战略本部的管理层由原有的6个减少到4个。将业务重复、零散的事业部整合为一个大的事业部,从而减少资源浪费,充分解决人员过剩、业务重复的现象。

经过一系列的组织重构,Panasonic重新设计了权、责、利分明的组织结构,迅速扭转以前的不利局面,并预期在2003年中转亏为盈。

老板,您也想让您的企业在逆境中转亏为盈吗?
马上报名参加《六月围城之审时度势,突围而出》线上研讨会,Datin Shin教你重新评估(Reassessment)、做出四项(现金、方向、人才、执行)正确的决策、提升业绩和利润、做出配合趋势的战略、差异化战略等。

这课程为您解决7大烦恼:
1. 未知数太多
2. 方向不确定
3. 现金流太紧绷
4. 盈利太少
5. 销售下滑
6. 团队执行力差
7. 拼“差价”

这不是一般的理论课,我会给您10大战略、7大工具、4大决策、22个真实案例,矢助您的企业战胜这百年一战!

马上报名 >> https://www.seminar.yyc.my/shinwebinar-mco3

FMCO何时了?你须马上为公司做 [重新评估(Reassessment)]!

突来而袭的封城,您准备好了吗?无论您公司现处于状态好或者不好,您有给公司做了“重新评估测试” (Reassessment Test) 了吗?

企业可以在两星期或两个月后才可开门营业?无人能晓。此时,必须做出“最差的场景化” (Worst Case Scenario) 的测试,公司还可活多久?

即使,公司现处于“好状态”的阶段,基于“全球化”,相信如果企业家没有努力地把“利润”与“现金流”不断地提升,您的利润和现金流都不断的下滑,对吧?

李嘉诚曾说过:“公司有了利润(Profit),但没有现金流(Cash Flow)时,业务大多会撞板。”

企业家,您现需要的是什么?现金流?更高的盈利?更多的銷售?

现阶段,您必须做对四项决策,哪一项是您最先要解决的?

《六月围城》 线上课堂,解决您任何以下的烦恼:

1. 未知数太多
2. 方向不确定
3. 现金流太紧绷
4. 盈利太少
5. 销售下滑
6. 团队执行力差
7. 拼“差价”

这是非一般的课程,不是“理论课”,我们给你:
战略 + 方法 + 真实案例 + 工具 + 数据化(可套上您的数据,让您可数据化管理、团队方可执行)
一堂课,价值非凡!

 马上报名👉 https://www.seminar.yyc.my/fb-success2

《六月围城》线上研讨会 给您:

  • 重新评估测试 (Reassessment Test)
  • 如何做对4大决策
  • 应对战略
  • 以终为始+ 快目标战略
  • 差异化战略
  • 大趋势战略
  • 创新战略
  • 决策系统战略
  • 利润战略
  • 营运金战略
  • 人才战略
  • 执行战略

老板,马上报名参加《六月围城之审时度势,突围而出》线上研讨会,Datin Shin教您的不只是重新评估(Reassessment),如何做出四项正确的决策,在全球化可以有更多的业绩和利润,她也会教您SWT战略和差异化战略。
另外,她也会给您“现金循环周期(Cash Conversion Cycle)”和营运资本(Working Capital)战略,让您有更多的现金。

切记,这不是一般的理论课,Datin Shin会给您战略、方法、真实案例和工具。

 马上报名👉 https://www.seminar.yyc.my/fb-success2


《成功企业家读书会》买 1 送 1 ,同舟共济!

老板,你是整家企业的船长,在面对现在的惊涛骇浪时,你不能让企业沉没!
你必须带领每个“船员”同舟共济,乘风破浪地克服每项难关。

此刻,你与团队都需要读书!多读书才能多思考,多思考才能找到更多应对策略。

为了在FMCO里协助你找到更多挽救与振兴企业的方法,我们特别推出《成功企业家读书会》“买一送一”大优惠!凡在6月8日至15日订购此读书会一年的会员,再送你多一个一年的会员证,你可以送给你的团队、伙伴、朋友或家人,让他们跟你一起进步,一起克服当前的挑战!

订购1年《成功企业家读书会》会员的5大好康:
1)免费多获一张1年的会员证(送给你的伙伴、团队、家人或朋友)
2)可读高达24本助企业成长的书籍
3)免费3堂傅家义授教的线上“成功企业家课堂”
4)免费1场《品红酒·品企业》活动
5)获1年成功企业家思考手册

*只限于6月8日至15日的首100名订购者!!马上行动>> http://bit.ly/bcfb1056

老板,在FMCO时期,如何让员工上下一心,拥有同舟共济的精神,且士气高昂地为公司效力?
如何找出公司里所有人的问题?
身为领导者或主管如何做好决策?

在《成功企业家读书会》里,其中一本书《这是你的船》将为你提供整顿上下员工士气与能力的方法,让领导与员工找到一致的方向与策略,百分百为企业效力。

另外,这段日子里,员工都居家工作,你是否担心无法提升执行力?怎样的执行力才能跨过设定的策略与现实的鸿沟?

读书会里的《执行力:没有执行力,哪有竞争力》著作,将引导你使用高效的方法提升员工的执行力,让公司在这个危机时刻更能顺利完成所有计划。

在这个艰难时期,企业的向心力与执行力都是不可或缺的动力,唯有这样才能使企业更快度过难关与更快恢复之前的状态。

三位导师为你导读及引导你解决企业难题

中国100强导师傅家义博士、YYC总裁Datin Shin与中国报执行总编辑罗依薇,都会在此读书会里通过Videobook的方式,引导企业家们吸收过去成功企业家所实行的有效解决方案,这对企业家们都很有用处。

此外,导师们也会在思考手册里,教导你如何把书中的方案与法则套用在你的企业上,让你更具体地掌握书中知识,也让企业问题得到真正的解决。

马上订购《成功企业家读书会》1年,让你与伙伴一起吸收对企业有用的知识,打造出不一样的企业!

订购1年《成功企业家读书会》会员的5大好康:
1)免费多获一张1年的会员证(送给你的伙伴、团队、家人或朋友)
2)可读高达24本助企业成长的书籍
3)免费3堂傅家义授教的线上“成功企业家课堂”
4)免费1场《品红酒·品企业》活动
5)获1年成功企业家思考手册

*只限于6月8日至15日的首100名订购者!!马上行动>> http://bit.ly/bcfb1056

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Something fishy: What these six Malaysian seafood produce sellers have in common

It can be hard to tell the difference between seafood supplier brands when most of the products look the same. — Pixabay pic

* This article is brought to you by Henry Goh & Co.

PETALING JAYA, April 26 — Feeling hungry for a bite of the sea?

You’re not the only one as several homegrown suppliers have popped up in recent years to meet the growing demand for fresh seafood in Malaysia.

Many of these brands also saw a boom during the Covid-19 movement control order with more people opting to do their grocery shopping online instead of going to the wet market in person.

As the seafood supplier market expands, companies need to establish a unique identity as it can get tricky differentiating brands that offer such similar products.

Check out our list of six Malaysian seafood produce sellers to find out what they have in common and how they’re setting themselves apart from the competition.

Art of Salmó and My Fishman

Both brands use ocean-inspired illustrations for their logos. — Pictures via Facebook/artofsalmo and Facebook/myfishman.my

Like many seafood supplier brands, Art of Salmó and My Fishman both feature blue colour palettes and fish illustrations on their logos.

In the midst of this, My Fishman’s logo stands out by highlighting another important aspect of their supply chain: the fisherman.

Art of Salmó also differentiates itself by specialising in one type of fish, the fjord trout, which it imports directly from Norway, while My Fishman offers a variety of seasonal catches sourced from local fishermen.

GL Marine and Long Seng Enterprise

Much like Long Seng Enterprise, GL Marine brands itself as a one-stop-shop when it comes to frozen goods. — Screengrab via GL Marine website

GL Marine and Long Seng Enterprise have similar-looking websites in addition to presenting themselves as one-stop shops for frozen seafood. Both brands also sell processed food in addition to their usual offerings.

Long Seng Enterprise highlights its fresh seafood in addition to its frozen range. — Screengrab via Long Seng website

In this case, GL Marine sets itself apart by focusing solely on its range of frozen food, which also includes meat, poultry, and lamb.

Meanwhile, Long Seng Enterprise is known for its catalogue consisting of both fresh and frozen food.

Maison Oishi and Senri Malaysia

These brands often pop up when you’re on the hunt for fresh seafood to prepare Japanese meals. — Pictures via Facebook/maisonoishi and Facebook/senrimalaysia

Whether you’re craving sushi or grilled fish, Maison Oishi and Senri Malaysia have become the go-to seafood supplier when it comes to making Japanese dishes.

Their product offerings are highly similar with both brands also selling a range of Japanese ingredients such as teriyaki sauce, miso paste, and noodles.

The brands’ distinct logos help draw the line between them as Maison Oishi adopts a more modern font, while Senri Malaysia goes down the more traditional route with calligraphy.


In a market where products look near-identical to each other, it’s crucial to create a strong brand identity that resonates with customers.

Henry Goh & Co is the leading intellectual property (IP) firm in Malaysia with strategic expertise in trademark, patent, industrial design, and copyright protection.

Getting brands to stand out from the crowd through IP awareness is one of the firm’s key aims with their clients, local and overseas.

To find out more about Henry Goh & Co and their services, visit their official website.

“企动人心”

■YYC超越集团主席叶志超

每个故事都有大智慧,“企动人心”单元希望与更多企业家及管理者,分享触动人心、启发灵感及商机的故事。

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75亿美元脱售面包店

罗纳德夏奇:大创新始于小观察

当业务还在赚大钱时,你会不会敢敢卖掉?

今天“企动人心”要分享的故事,就是一位善于判断情势的美国企业家,因为他的勇敢放手一搏,最终为企业创造更大价值,并且成功以75亿美元脱手离场。

他,就是潘娜拉面包店(Panera Bread Company)的创始人罗纳德夏奇(Ronald Shaich)。

他一手打造的潘娜拉,被喻为是“烘焙界的星巴克”,到底罗纳德夏奇有多厉害?

本来热衷于政治的罗纳德夏奇,并未想过自己后来会成为企业家。

谈及自己成功之处,他在受访时透露,经营零售业最重要是懂得观察客户的需求;而重点在于,很多客户不会主动说出自己的需求,身为经营者必须自行察言观色、用心“聆听“,方可捉住消费者喜好的变化。

细心观察消费习性的趋势,不但带旺罗纳德夏奇的面包店生意,也让企业在每一次转型都胜券在握、马到功成。

罗纳德夏奇的创业故事始于大学时期,在一次偶然机会下跟同学设立大学福利社,这也是他接触零售业的开始。

老板不买账 他辞职

在哈佛商学院毕业后,他并没有创业,而是进了一间销售奶油饼干(Cookie)的企业打工。由于工作需求,他跑遍全美国,对市场触觉敏感而且嗅出商机。他向公司管理层提出在城镇开设奶油饼干店,无奈却遭拒,也因为这样他决定辞识,回到波士顿(Boston)。

1980年,当年27岁的他,以10万美元的创业资本,开设了第一间奶油饼干店,取名Cookie Jar。

经营不久,罗纳德夏奇就发现店内的客流量都是从中午12 点以后才来。为了争取更多生意量,他找到了一家当地小烘培坊“Au Bon Pain”提供法式面包,每天早上售卖面包。

果然,店里的营业额增加了不少;1981年,他跟Au Bon Pain洽谈合并,把企业壮大。

这里看出罗纳德夏奇的大格局思維,正如他形容自己,从不把自己设定在窄小的目标上。

“像冲浪般,你离海岸已经够远了,然后开始观察将迎来的海浪,并且挑选冲向一个够大的海浪,在浪尖上想尽办法让它带你去到更远、你想要去的地方。”

罗纳德夏奇把已经有获利的Cookie Jar注入Au Bon Pain,取得后者60%股权。尽管Au Bon Pain很有潜能,但营运状况却一片混乱,也没有能力购买新机器使用。

干衣机烘菠菜 够创新

令人津津乐道的是,Au Bon Pain的热销品 “菠菜牛角包”(spinach croissant),当初因为买不起昂贵机器而使用干衣机来烘干菠菜。这个创新的解决方案虽然曾险些闹出人命,但菠菜牛角包无疑是经典创作。

罗纳德夏奇敏锐的市场嗅觉,部份也是源自于他在前台收银的观察。某一天,一位客户來购买法式长棍面包(baguette)时要求切开,并现场拿出在其他店买的火腿和芝士食材夹到面包中吃。

这激发了他的灵感并展开研究,他发现很多城市白领族想要的就是一份方便、新鲜及有营养的午餐。

 这么一个突发其想,让他开拓了一个新商机,为食客在快餐和高档餐厅之间提供多一个选择—三明治餐厅。

Au Bon Pain的“快速慢食” (Fast Casual)概念大受欢迎,业务越做越大,公司在1991年挂牌上市,于1993年分店已经达到250 间。

从波士顿的一间小店到上市挂牌,罗纳德夏奇的野心并没有因为这样而得到满足。他事业上的另一个重大转捩点,就是收购了分店都开在郊区的St. Louis Bread,并把之前的成功经验再重演一次!

毅然售业务 往前看

 St. Louis Bread店面主打宽敞空间,罗纳德夏奇把面包店打造成人们的“第三空间”,即除了家里和办公室之外,可以逗留的另一个地方,客户可以选择在这里见面聊天、开会、面试等。

在St. Louis Bread易名潘娜拉面包店后,罗纳德夏奇把业务发展推向另一个高峰。

到了1998年,潘娜拉的分店已经从19间变成150间,因为几乎每一幢主要办公大楼都希望有一间这类“第三空间”面包店。

但当初也因为要把业务重心专注在潘娜拉,罗纳德夏奇在经历一番董事局纷争后,于1999年把Au Bon Pain 脱售给一家私募基金公司。

试问谁会敢在好景的时候,把赚钱的生意卖掉? 这里反映的是罗纳德夏奇的眼光、远见 、胆识及魄力。

他表示,Au Bon Pain是他一手培育成长的企业,他也很爱这间公司,但是身为企业家,他必须往前看。

他也反覆问自己:“为何我们要这么做?我们如何确保这样不会犯错?我们该如何小心维护?怎样做才是对的方式?”

在做出这个艰辛的决定时,面对着5000位员工,他深深感到这个重大决定的背后,正影响着全体员工未来家庭生计、银行贷款、孩子教育费及前途等。

无论如何,火力全开发展潘娜拉后,罗纳德夏奇后来创造的神话也是令人刮目的。

危机时期扩张 股价飙 

到了2000年金融风暴期间,潘娜拉业务不但没有受影响,甚至是以每3天开一间新店的速度扩张,公司股价从3美元急飙到 315美元!这等于150倍的成长。

罗纳德夏奇说,在危机时期扩张的成功秘笈,是因为采用逆向操作的思维。危机爆发前,同行都在通过举债大量扩展,但房产成本都很高。

跟股神华伦巴菲特在危机时才出手的道理一样,罗纳德夏奇也在这个良机才进场大收割,投入原本准备好的资源,无论房产成本还是建造成本,都比之前便宜了20%。

反观在好景时大事扩张的同行,因为销售表现下滑、盈亏表的压力,必须极力压低成本。

从1997到2017年的辉煌20年里,潘娜拉成为最佳表现的餐饮股,为股东创造了86倍的回酬。

2017年,潘娜拉面包店以75亿美元脱售给JAB控股公司,罗纳德夏奇也于同年辞去总裁职位。JAB控股公司后来也购入Au Bon Pain,使两个品牌又重新回归到同一集团下。

3大启示:

  1. 从身边的小观察发掘出决定性的创新,因为细心观察消所以精准判断情势,使每一次转型都胜券在握。
  2. 采用逆向操作思维,在危机时期扩张,不错失因危机而衍生的商机。
  3. 从Cookie Jar到Au Bon Pain再到潘娜拉,一家企业从小做到大,需要很多的时间、经历很多改变,每一个转变都是危机与商机并存,因此创业者要看的是长远利益。

Uncle Jet’s Fishing Journey 1: New investor investing into your company? Yay or Nay?

“Give a man a fish and you feed him a day; teach a man to fish and you feed him for a lifetime.”

Uncle Jet’s Fishing Journey is all about business, entrepreneurship, share investment and personal finance. Through Newswav, Uncle Jet hopes to share and learn together with all readers, creating a more financial-literate Malaysia together.

Journey 1: New Investor investing into your company? Yay or Nay?

Whether your company is currently (a) idealisation stage (b) startup (c) traditional growth stage company (d) matured company looking for exit, you will always encounter opportunities for third party investor to invest in your company.

If you are at idealisation stage, looking for your friends/families to invest in your idea. Make sure the expectations are set clearly in the beginning. If your partner is merely investing as a passive shareholder, don’t be upset when he/she is not contributing to the growth of the company while you are working your head off, sacrificing your social time, family time and health. If you are expected to run the show alone, make sure the compensation package is agreed in the first place, and built into the cost structure. You could also structure some form of sweat equity upon achieving certain KPIs.

Most of these friend/family funded companies will not have a Shareholder Agreement. When thing turns sour, remember not to do anything harmful to a friend/family/investor who trusted you in the beginning. You are responsible for your investor. If you have to resort to buying your investor out, make sure he/she will get his fair share of upside (if the company is doing well).

A good reputation goes a long way.

For most startups, the valuations are normally based on future prospects, rather than actual profitability.

At this stage, most valuations are crafted based on how much you want to raise in relation to how much equity you are willing to give. IE: if you willing to give out 10% of your equity, in change of RM1m, you are effectively valueing your company at RM10m.

However, this may not add up.

Even if the company may turn profitable in the future, the investor may not be able to reap good returns if the entry valuation is too demanding. If you expect your company to worth RM10m in 5 years, don’t ask your investor to invest at RM10m valuation today. It doesn’t justify for all the risks and hardwork, just to exit at his entry valuation 5 years later.

Most of the exit will be based on profitability ( rather than story telling ), unless you are selling to strategic buyers or your company is a unicorn with billion dollars revenue set to list on NASDAQ (on revenue multiple). The former, generally, knows what to do with your business and how your business can be integrated into the existing business verticals. Even then, the purchase price will also be based on traditional EV/EBITDA or PER ratio (but may be higher than typical financial investors). The latter can be far-fetched and is also proven to be unsustainable.

Don’t be delusional by all the deals happening around you (Company X has raised Y in its series A funding at USD Z valuation), you don’t know the actual details behind. Higher valuations may come with strings attached.

As a startup founder, be realistic with your valuations. Be genuine on your expectations and also be accountable to your projections. Make sure you have proper plan to achieve the promised projections.

If you are unable to attach a valuation to your company, one way to do it is to structure as a convertible loan, where the loan is convertible based on future performance (x% discount on future valuation).

It is pointless to have a good future prospects, without a good business model and cost structure generating cash flow and profitability. Your company is better off surviving on profitability and cash flow as compared to relying on fund raising. What if you are down with 3 months runaway, and your VC who has been supporting your growth strategies stopped funding you. I guarantee you will have sleepless nights, thinking about cutting OPEX, losing your company, your employees losing job, etc.

If you have raised your fund, work towards the projections you promised to your investors while looking closely to your cost budget. You can still grow your company while maintaining a healthy EBITDA! If you have to raise funds, raise it early. It normally takes 6-12 months to close a deal (sourcing, negotiation, due diligence, legal drafting and closing).

If you are the lucky fews, currently preparing to exit your existing established and profitable business, be realistic on your valuations and most importantly, start to adopt an exit mindset.

When you are exiting your business, your buyer will normally require you to stay as a minority founder for atleast 2-3 years (unless it is a strategic buyer). It may be hard because you have been your own boss for your whole life. Suddenly, you are required to do monthly reporting and also reporting to the new shareholders (whose representatives may be younger and less experienced than you).

If you are left with minority stake in the company, respect the exit terms, be genuine and work together with your new shareholder toward the final exit/pay-day on your minority portion.

If you have exited completely, (good job!) respect the exit terms and work on the knowledge transfer while enjoying your big pay day!

Again, a good reputation goes a long way!

Above all, all companies with multiple shareholders should always have a Shareholder Agreement. You can get it at less than RM10k for a simple one. It is essential in protecting the interest as a founder, as well as the minority shareholders. Under normal circumstances, the Shareholder Agreement is practically a piece of paper kept in your drawer. It becomes important when thing turns sour.

A good Shareholder Agreement should always include reserved matters, exit options, pre-emptive rights, right of first refusals, liquidation preference, tag-along, drag-along, priority-rights, veto-rights (if any), etc.

An example: if you and your shareholders are exiting your company, your minority shareholders are comfortable with the exit price, but you, on the other hand, think your company is worth much more. You want to negotiate and you are ready to walk away from the deal if you don’t get the price you want, but your partner wants the current price, without jeopardising the deal on the table. This may result in a potential deadlock. A good Shareholder Agreement can mitigate this.

If you do not existing have an Shareholder Agreement, and if your financial permits, get it done.

If you already have one, I hope that you will never have to bring it out, until you are selling majority of your company for a big buck!

Lim Jet Liang is currently with 5X Capital, a Securities Commission licensed Private Equity Fund based in Malaysia.

Triple Joy for House Buyers

Dreaming of a home in a green lung that’s also next to modern conveniences? Well, dream no more as it is a reality made affordable with Mitraland’s 3xtra Big Deals campaign!

This super-savers campaign by Mitraland Group is for its projects in Klang South and Melawati. The campaign offers:

1xtra deal: flash rebates for limited units for a limited time only

2xtra deal: free 12 months of maintenance fee and pay nothing up to 12 months after booking* 

3xtra deal: savings from the Home Ownership Campaign 2020 (HOC 2020)

Under HOC 2020, buyers enjoy full stamp duty exemption on the Instrument of Transfer for properties up to RM1 million, and a partial stamp duty exemption (3%) for those priced between RM1 million to RM2.5 million. HOC 2020 guarantees you a 10% discount off the purchasing price. On top of that, the Overnight Policy Rate (OPR) has been slashed even further to 1.75% – this means a lower loan interest rate!

Upperville @ Melawati gives you the best of both worlds – greenery and convenience – being merely 15km from KL City Centre. It sits next to Mitraland’s award winning 16 Quartz development with the majestic Klang Gates Quartz Ridge (a proposed UNESCO Heritage site) as its backdrop. 

Low density within an exclusive and mature neighbourhood, Upperville has easy access to 4 highways and top amenities (hospitals, international schools, malls and LRT) within 10km. From RM2,700 a month, each 1,050 sq ft unit comes with 3 spacious bedrooms and 2 parking lots!  

Gravit8 @ Klang South on the other hand offers a self-contained community with residences, retail and office components. Its FREEHOLD condominium units are nestled within an iconic 8-acre Lakepark. Convenience stores and restaurants are just a short stroll away. 

Residents of Gravit8 are spoiled by a 3-acre facility deck. Its swimming pool offers the best sunset view in Klang South, a multipurpose hall, gymnasium, games room and more. From RM2,000 a month, units are available from 2+1 Bed onwards and ranging from 871 sq ft to 1,237 sq ft. 

As a fully integrated development, Gravit8 is also super connected. Located along the Shah Alam Expressway (KESAS) and close to the Federal Highway, it can be accessed via over 7 highways. 

Keen buyers should take action now as the campaign is for a limited number of units within a limited period only. And the cherry on the icing: 10-gram gold bars* are up for grabs in the month of November!

For more details, visit https://www.mitraland.com.my/extra-deals 

* Terms and Conditions apply