Advice

When you're running a business everyone has advice. Some is good, some not so much. But there's one piece of advice few people will ever get. Yet, far too many entrepreneurs desperately need to hear it. I was one of them. "Suddenly it felt as though we were navigating blind; straining just to see beyond the bow." In my case it came from a chance encounter during one of the toughest moments in my entrepreneurial journey. Our Inc 500 Company was starting to get the attention of potential acquirers. We'd had a few offers to sell but we were having way too much fun. It was Y2K; the eve of a new millennium. Within eighteen months the party was over. The dotcom crash of 2000 and the attacks of 9/11 tore through the economy and gutted the tech industry. Suddenly it felt as though we were navigating blind; straining just to see beyond the bow. Stressing Innovation Like most tech companies at the time, I was trying to hold onto my best people, restructure … [Read more...] about The Best Advice You May Never Get

- A + A KUALA LUMPUR (June 30): Bank Negara Malaysia (BNM) must continue to cooperate with the Malaysian Anti-Corruption Commission (MACC) and the financial sector to coordinate efforts in combating corruption and financial scams. In making the call, MACC chief commissioner Tan Sri Azam Baki said this would also create public awareness that is more effective and appropriate in view of the latest scam tactics. According to him, besides ensuring more effective preventive measures by financial institutions, the efforts would provide support to recover the embezzled funds as well as enable effective investigations by the law enforcement agencies involved. “Financial institutions are always exposed to fraud and money laundering which make them a safe place or as a conduit to hide, deal and ‘clean’ the money from illegal activities. "The criminals are becoming more creative in finding the weaknesses to beat the customer due diligence that has been implemented, and … [Read more...] about BNM, MACC and financial sector must continue to cooperate to combat corruption, financial scams, says Azam Baki

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A NOT many civil servants appeared to be concerned that debt-laden 1Malaysia Development Bhd (1MDB) was already falling into the abyss in 2013, only a few years after it was established. Datuk Siti Zauyah Mohd Desa seemed to be one of the exceptions, as she had warned that Malaysia had never defaulted on a loan repayment and that even defaulting on a “low threshold” repayment of US$50 million would portray the country as bankrupt, never mind the colossal repayments needed for a US$3 billion loan that 1MDB was proposing to raise and be effectively backed by a government guarantee (GG). Now retired, the former deputy secretary-general at the Ministry of Finance (MoF) told the court last week that then prime minister Datuk Seri Najib Razak had ultimately agreed to the state-owned strategic investment company’s request for a government guarantee and that her … [Read more...] about 1MDB-Tanore Trial: Letter of comfort effectively became government guarantee despite MoF’s discomfort

The wet market in Old Town, Petaling Jaya, Selangor. According to Annuar, despite inflation rates being on the rise across the world, Malaysia is still among the countries with the lowest rates, which is at 2.8%. (Photo by Low Yen Yeing/The Edge) - A + A PUTRAJAYA (June 30): The government, through the Special Task Force on Jihad against Inflation, will strive to keep the inflation rate in Malaysia low and manageable to ensure the well-being of Malaysian families, Communications and Multimedia Minister Tan Sri Annuar Musa announced. Annuar, who is the chairman of the task force, said they would give attention to all prices of goods and services that could contribute to the increase in the inflation rate, apart from chicken, eggs and cooking oil. “We are also giving our assurance that we will continue taking a proactive approach to control and keep the country’s inflation at a low and manageable rate.” He said this at a press conference after chairing the task … [Read more...] about Annuar: Govt to ensure Malaysia’s inflation rate remains low, manageable

Regular readers of this column know that I almost never write about my personal life. I figure this column isn't about me; it's about making readers more successful. However, my editor asked me to write about what made me passionate about my job, so here goes. I'm going to explain how my passion for writing led me to this, my dream job, and how the years I spent avoiding my dream job turned out to be essential to achieving it. I'll start with some background. I always knew I was supposed to be a writer. I wrote (dictated) my first story when I was four. By age eight, I was creating hand-drawn newspapers with stories about dinosaurs. At age 14, I bought my own printing press and began publishing my own newsletter. By high school, I was writing nonfiction at a college level (e.g., 35 pages of "Analysis of Marijuana Usage in Contemporary California") and writing almost readable pastiches of Kafka and Lovecraft. Whilst in college, I had my first short story … [Read more...] about How to Do What You Love for a Living

Adam Kornfield had everything going for him--a great salary from his hedge fund job, a brand new Manhattan apartment, and the opportunity to travel all over the world. Still, he felt incomplete. Kornfield and his friend Joey Cofone, a graphic designer, had been working on a side project--endeavoring to create the perfect paper notebook. Naturally, they had no idea if it would ever amount to anything. After all, paper? Isn't that supposed to be passé? But as Kornfield said in a recent LinkedIn post , "That's half the fun." They spent months meeting with designers, making prototypes, and taking pictures in the hopes of creating a better paper notebook: the Baron Fig Confidant. With the help of thinkers from around the world, they created a notebook that opens flat, and has smart dimensions and quality paper. They made what Kornfield called a "killer video" showcasing their notebooks in action and posted the project to Kickstarter, with an initial fundraising goal … [Read more...] about Why This Guy Left a Six-Figure Job to Launch a Paper Company

The secret to getting through an especially difficult workout? It doesn't matter how strong your muscles get, half the battle is developing a kind of mental toughness to keep going. As it turns out, if you want to survive in the fitness business, the same thing is true. Speaking at a panel event hosted by American Express' U.S. Small Merchants Group in New York City on Tuesday, the entrepreneurs behind ClassPass , Warrior Fitness Bootcamp , and modelFIT weighed in on their biggest startup challenges, from honing the best marketing techniques to securing funding to the importance of nurturing strong mentor relationships. Sure, the panel organizers may have served up "beauty water" infused with rose petals, but competing in the health and wellness industry is not for the delicate of heart. Here are some of their top tips for staying--and thriving--in the business: Don't be afraid to fail. Payal Kadakia is the co-founder of ClassPass , a subscription … [Read more...] about Disrupting Your Workout: How to Stay Tough In the Boutique Fitness Industry

Government officials have been slammed by the public for wasting taxpayer money. Thai netizens have slammed government officials in the central province of Pathum Thani for wasting taxes on a pointless trip to Phang Nga and Phuket. Government officials from the Mueng ท่าโขลง District were supposed to be taking part in a working seminar to develop women’s potential in Phang Nga, and Phuket, from June 23 – 26. But the non-profit organisation, Anti-Corruption of Thailand, criticised the government on its Facebook page, saying they used the 490,000 baht trip as a holiday. The pictures posted on the non-profit organisation’s Facebook page were taken from the Facebook accounts of the seminar participants. The picture captions were cutting. One said, “Others might go to the sea to escape from love and hot weather, but we escape from work.” Another said, “Go to Phuket! Thanks to the kind sponsors,” and another, “Wonderful activities for ท่าโขลง women.” The pictures reveal … [Read more...] about Thailand News Today | Govt officials slammed for wasting tax money