Woke up early to write the newsletter today and post it out before heading to Tepak Sireh for the Kenali Diri session by SMCCI. I was late for about 25 mins and was there drenched due to the rain at Tampines.
However Mr Roslan was at the door and I thought people were still eating but the session already started with Mr Mubarak Salim’s presentation on Accounting systems. Darn I need to know that stuff too..
However I did not miss the best part which was the presentation by Bro Niaz Shah from I-Free Capital Pte Ltd. Masyallah, I was quite amazed with his achievements and what he has achieved. So you see we do have very successful Malays only that you’ll be able to see them only at such events. Ooh by the way we didn’t have live streaming this morning due to some problems the last two weeks. Insyallah it will be back for the last Kenali Diri session if the Team agrees.
Back to Mr Niaz session. One thing I learn from him are these new terms OPM, OPT and OPC. I’ve heard of OPM many times but I have not heard the other terms yet however most of us actually know this already.
Well its Other People’s Money, Other People’s Talent and Other People’s Connection.
Usually I would always use the word NETWORK now I can use this 3 letters – OPC. So an Entrepreneur should always know how to use this to his/her advantage.
How then can you use other people’s money. Well for a start if you have a good business plan and good revenue model, certainly you can obtain fundings from investors. Another way is that if you know how to leverage on Government grants, you can tap such grants to your advantage. Even borrowing from Bank is actually leveraging on Good debts to run your business. So there’s many ways to do this. You have to think about it though.
Other People’s Talent. Well to me I think this is the hardest component to crack and manage. Cos good help and talent does not come easy and neither does it come cheap.
Other People’s Connection. Well this was what I tried to write about the Networking part which failed entirely cos of the lack of time. However this is crucial to learn because it is through other people’s connection which we can get more friends and insyallah even strike more business deals.