5 Tips for Succeeding With a Malaysian Startup

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Starting a business in Malaysia can be an exciting adventure, but it can also be a scary one if you do not have an organized strategy. Even people who have the best business ideas in the world have to take the time to ensure that they do everything right. The following are five tips for Malaysia residents who want to have a startup business. These startup tips will help the entrepreneurs to have success:

  1. Reduce the Overhead as Much as Possible

The first tip for succeeding as a Malaysian entrepreneur with a startup is to reduce the overhead as much as possible. The overhead is what can make or break you in business. You can reduce the overhead by finding ways to get deals and discounts. For example, you can sign a contract in exchange for a super-low price for your business’s Internet services.

  1. Open an Interest Bearing Savings Account and Fill It

An interest-bearing savings account is something that you want to have even before you start your business. A new startup should have enough of a financial cushion to last two years if it receives no sales at all. Many businesses bomb when they first start, so you need assurance that you can make it through such a situation.

  1. Ensure That the Office Space Is Adequate

Your office space is one of the most important parts of your new business. You must ensure that your office not only is large enough to fit everyone in it, but also that you arrange it in a manner that is pleasing to you. Rental offices are available if you do not have an office for your business. You can rent an office that is 750-1800 sq. ft. if you have more than 10 employees. Some sites rent completely furnished offices, which is good because it removes from you the burden of having to worry about interior decorating.

 

  1. Exercise Superior Customer Service

You must always exercise amazing customer service skills no matter what service or product your Malaysia business offers. Customer service is the core of success for all businesses because it appeases the people who mean the most to your business: the consumers. Excellent customer service is customer service that answers calls quickly, resolves issues and responds to questions in a timely fashion. It brings customers referrals as well as repeat business.

  1. Use Social Media to Network

Finally, you must use the social media if you want to expand and succeed. Business owners reach thousands of people when they make the choice to sign up for Twitter and Facebook accounts. Such accounts can reach people worldwide who will then have the inclination to do business with your company. Use the sites as tools to get ahead and keep moving forward.

Your can greatly increase the chances of your startup’s success by following the previously-mentioned tips. Staying positive and being available for your customer’s needs is another thing that you can do to ensure success.

 

How to Save Money on Your New Business

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If you’re thinking about starting your own business, you might be deterred by the initial costs. For those who are starting a business online, there are less initial costs than you might realize. It can help to save before launching your business, and you can also save money on costs that you thought were set in stone.
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In order to look like a legitimate, professional business, you’ll want to have office space where clients and potential customers can meet with you. If you have a business that requires space infrequently, you could look into meeting rooms for rent. You’ll only need to use them when you have large meetings with investors or clients. A serviced office has a receptionist who will forward calls as well as serve as a mailing address while you work from a remote location.

part-time-workersYou can also save on employee salaries by hiring a part-time employee who works from their own office. You won’t have to worry about providing benefits to a part-time worker, and they have their own space with the equipment needed to do their jobs. To save big on employee costs, you could take on an intern who is willing to work for little to no money for the experience. For sales associates, you could have them work on commission, which means you won’t have to pay them unless they bring business into your company.

0625_workfromhome_630x420When you work from home or in your garage, don’t forget to find out about all the important deductions you can make on your taxes. You’ll be able to deduct a portion of your rent or mortgage as a business expense depending on how much of your home is used as part of the business. You’ll need to check with a tax professional before taking these deductions.

savingmoneyAnother way to save money as a new business is to save on shipping costs. If you have a friend or a family member in the area of some of your suppliers, you can save hundreds on shipping costs by having it picked up from the manufacturer. While you’re saving money if someone is naturally heading near the supplier, if you do it yourself, you might not be saving all that much since you won’t be involved in any activities that will generate revenue while traveling.

best-price1Before contracting for work, make sure you get at least three bids to ensure you’re getting the best price. Once you’ve chosen a vendor, find out whether you’ll get a discount for paying bills at a certain time. Many vendors will give you a credit for paying early. If they don’t, consider keeping the money until the last minute to earn interest on every dollar possible.

There are plenty of ways to save money when you’re starting a new business from a rented meeting room to saving on shipping costs. Before you open your business, think about the ways you’ll be able to save money on the process.

 

Tips for the Online Entrepreneur to Build a Foundation for Success

For online entrepreneurs, you have to be focused, driven and passionate about your business. There will be setbacks and failures on the road to success, and an online entrepreneur knows that there will be mistakes. It helps when you can avoid common mistakes in the beginning and have a good solid foundation for your business. It means you’re more likely to be successful and avoid common failures when you plan ahead.

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Pick Dynamic Web Addresses

For the online entrepreneur, the web address is one of the most important aspect of the business. It’s how customers and clients will find you online. When it comes to retail shops, location is one of the most important rules. The same is true of the online address. It’s all about how you name your website. The web address should be easy to remember and simple to spell. Stay away from tricky spellings that seem cute or clever. Don’t use hyphens since that can be confusing to customers.

Create a Mailing List

When you’re selling a product or service to clients and customers, you can do the equivalent of cold calling to gain sales. This won’t be as effective as warm leads or permission based marketing efforts. With a mailing list, a potential customer has already seen some value in your service or product, so they’ll be more likely to be receptive when you contact them with a product opportunity. Before trying to generate cold sales, consider offering a free incentive for them to sign up for a mailing list. It’s one of the best ways to gain sales and customers.

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Be Professional

Many entrepreneurs think that they need an office to be a legitimate professional business owner. For the online entrepreneur, everything can be done virtually except on certain occasions. The online entrepreneur doesn’t need to buy or lease office space to feel like they’re more professional. By expanding too early, many business owners are sinking money into a part of the business that isn’t really needed. Office space for rent from a virtual office provider can give you the business space you might need occasionally. This could be perfect for certain client meetings or meeting investors to talk about money. It’ll give the entrepreneur a professional looking space without the monthly expense of leasing.

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While you can jump in with your business idea and create a website to start gathering names and addresses for your mailing list, when nobody knows you, they’re less likely to purchase your product or services. You have to create a brand and make sure that brand is a reflection of your business’ personality. It should be consistent across all platforms and able to stick in the mind of customers.

Picking a good web address, branding your business across multiple platforms, gaining an email list and having a professional office when you need one, are some of the most important things in your online business. These things will help you achieve success in any venture you choose as an online entrepreneur.

5 Tips To Overseeing a Business’ Global Expansion

Every business starts out small. Yet over time, it requires more space, manpower, and infrastructure as it continues to grow in consumer base and product/service lines. Global expansion is something many business owners want for their entrepreneurial offspring. Sadly, not everyone knows how to oversee the process and ends up consuming a ridiculous amount of resources and failing to execute the business plan.

 

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Prepare a Different Pitch

Forget how you sold your business to investors and consumers in the past. When you are entering new space in a foreign location like Malaysia, the pitch has to be tweaked to comply with local standards. This could imply changing the pulp of the pitch or the format. In some instances, completely different business cultures may require you to just make a new pitch altogether.

 

Be Proud Of Your Existing Track Record

Don’t discount the success you’ve had in your local space when entering a new space. Just because your product or service line wasn’t created in the foreign space, doesn’t mean it will not work. In fact, existing success incubates new success. However, don’t expect to be successful overnight or to achieve new success if your local business is still down in the dumps. If you can show a strong track record, it will be easier to acquire foreign investment.

 

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Building Your Base

Picking a location is probably the trickiest one to figure out. You’d want to find a location in Malaysia that is easy to find, safe, and cost-effective. Ideally, you should set up a small base with a limited number of staff that will collaborate on core operations. You can also delegate your IT needs to a virtual office provider. A virtual office in Malaysia gives you access to local expertise for your customer support needs. It also minimizes the cost of utilities, space, and manpower by combining them into one virtual office package.

 

financial_stableMake Sure You’re Financially Stable

Expanding to a new market can be expensive. It will burn through a lot of funding before it starts generating money. Expenses include user acquisition, advertising, legal fees, and employee salaries. Set a hard limit on spending and make sure there is enough money in the bank to raise an additional round of investor funding after the product launch.

 

stand_up_from_compatitorsDefine Your Strengths Against Local Competition

When entering a new market, you will encounter new competitors who are more established and trusted by your target audience. Defining and capitalizing on your strengths is important to level the playing field quickly. For instance, if you have a better manufacturing infrastructure than your competitor, you can easily set a cheaper and more attractive price point that will easily attract new customers.

 

 
While global expansions are never a cakewalk, it is well worth the effort and resources you put into it. The key element to succeeding is to know what to expect and use those expectations to adjust your business strategies. Remember, no market will change their consumer habits to conform to your business.

Getting the Best Domain Name for your Website

One of the most important aspects of your Internet marketing will be your domain name. No matter how effective your marketing is when it comes to soliciting clicks and impressions, you will not have as many customers as you should if you cannot procure a domain name that is easy to type and remember. Here are some of the most effective ways to getting the best domain name for your website.

– Consider the suffix.

Many new suffixes have recently been approved for use. The suffixes include country specific addresses, profession specific addresses and many other kinds of localized feature sets. However, you must consider the familiarity of your audience with suffixes before you dive headfirst into these new genres.

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No matter what, the most effective suffix is always going to be a .com address. You may consider a localization technique for your current audience; however, understand that the farther that you get away from old suffixes, the less likely it is that new customers will come into your forum.

– Learn the art of the redirect.

One of the ways to have a great landing page with a suffix that is less well-known is to take advantage of redirect technology. Even if you cannot get best domain name with a .com, you can redirect your audience to your final website through many domain names if you want to. Many companies will make a purchase of multiple keyword URL addresses and redirect them all to the same website. This is a very effective way to enable different audiences across the board to find you easily and without having to remember a long, drawn out string.

– Try to put keywords in your domain name if at all possible.

It can be difficult to initiate a keyword strategy before you have even chosen your domain name; however, you should strive to create both of these profiles for your company simultaneously. The URL is one of the most powerful places to put keywords that are under your control; the major search engines give your URL a great deal of priority when it comes to search rankings.

How to Get a Domain Name

Even if you have to bid on a short domain name that is easy to remember with a keyword or two in it, this may be a very effective way for you to get new customers into your website. You should never discount this investment as a viable form of creating a bond between your company and your customers. There are very few Internet marketing techniques with the same long-term success of a keyword rich URL that has an easy to remember layout.

If you are having trouble finding an easy to remember domain name, then you may want to consider a Singapore domain. Many of the best keywords that have been taken in other formats have not been taken in Singapore. Start out your business ahead of the curve and buy domain name assets in places that have not been overrun by competition.

4 Tips for Beginning a Successful Online Entrepreneurship

Running a successful online entrepreneurship is often the dream of countless people around the world. However, it’s not nearly as simple as it may sound. There is a lot that the entrepreneur has to do to get their business to take off. Below are four tips that any online entrepreneur just starting out should take into consideration in order to be successful.
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1. Don’t Put All Your Funding in One Avenue

Of course funding is a crucial aspect of marketing your business online. You need money in order to reach a wide range of people. However, you have to be careful not too much money in any one online marketing or promotion website. That’s because a lot of these websites feature a very strict policy when it comes to spamming. In other words, if you are ever accused of sending out unsolicited emails, you will have your account closed. It doesn’t matter if the accusations are just or not, it will happen. When your account closes, you may find yourself losing all the current funding you have in place.

2. Don’t Overstep Your Boundaries

While it may be tempting to send out a large amount of unsolicited emails, this will only hurt your budding business in the long run. Instead, you should always read the Terms and Conditions area when you join any marketing program. This way you know exactly what you’re dealing with. These Terms and Conditions need to be adhered to. Remember, you do not want to push your online business onto anyone. This will only harm your image. That’s why you need to make as many useful contacts as you possible can during each of your Internet campaigns.

3. Keep Everything You Need Organized

Whether you decide to get an office space for rent or simply have a folder on your computer screen, it is vital to keep each and every one of your business activities accounted for. Your activities should be logged in and documents must be filed where they belong. By staying organized, you are really doing your business a favor. You should also check your email account every single day. When an important email comes in, file it. Do not hesitate to give a file or folder a long name in your system. The main goal here is to keep whatever area you’re working in very tidy. This will save you so much time so that you can stay productive.

4. Don’t Lose Your Focus

When taking a look at any online entrepreneur who found success, it’s clear that you must have drive. You have to stay positive and focused around the clock. That means you may have to put in long hours, but it will be worth it in the end. Set goals and don’t give up on them until they are achieved. If you lose sight of what you’re working for, your business won’t grow. Making money shouldn’t be what drives you. Instead, it has to be the success of your online business.