Two years ago, around this time, I was contemplating selling things online via Lelong and eBay. While the family was supportive, I was rather apprehensive, and wondered what happens if no one buys my products?
I figured that my main product would be ladies' lingerie and jokingly told my friends that I'll wear them myself if no one buys. But of course money is money and I am in no position to play with my capital, even though it is a small amount.
Because I was going to get my supplies from the United States and hence paying American Dollars, I wondered if I should wait for the Ringgit to be stronger or for the Dollar to be weaker before placing an order with my suppliers.
So, I consulted a good friend of mine who works as a risk manager with a financial institution. He told me that there will ALWAYS be rumours of the currency being repegged, or of the weakening greenback.
He told me that I should start it NOW, and if I don't, I never will. When is the right time to do something? There never will be a right time, and there is no wrong time. Strike while the iron is hot, while I'm feeling all fired up and enthusiastic about the venture and work out the kinks as I go along.
Factor in all the risks, the benefits and the disadvantages and if the rewards outweigh the risks then go for it. In any business, large or small scale, there will always be some risk. It is a matter of how we handle the situation that will determine if our loss, if any, can be controlled or not.
The more I ponder over the issue, the more negative I become, so why continue to ask the "What ifs?"
And as you can see, I did venture into this. It may have taken a lot of time, it may have taken a lot of energy, a lot of hard work, a lot of sleepless nights and the profit margin may be low.
I was once asked if I can survive on e-trading solely, and the answer is NO. I am no big player, unfortunately.
But is this worthwhile? I'll have to say, Yes, it's worth every minute. Going into business is not all about the profits. It is a challenge. A challenge that gives a sense of pride and a sense of achieving goals that you have set for yourself to meet in a certain time frame.
And so, I have no regrets at all. And I am thankful for the push I needed.
I figured that my main product would be ladies' lingerie and jokingly told my friends that I'll wear them myself if no one buys. But of course money is money and I am in no position to play with my capital, even though it is a small amount.
Because I was going to get my supplies from the United States and hence paying American Dollars, I wondered if I should wait for the Ringgit to be stronger or for the Dollar to be weaker before placing an order with my suppliers.
So, I consulted a good friend of mine who works as a risk manager with a financial institution. He told me that there will ALWAYS be rumours of the currency being repegged, or of the weakening greenback.
He told me that I should start it NOW, and if I don't, I never will. When is the right time to do something? There never will be a right time, and there is no wrong time. Strike while the iron is hot, while I'm feeling all fired up and enthusiastic about the venture and work out the kinks as I go along.
Factor in all the risks, the benefits and the disadvantages and if the rewards outweigh the risks then go for it. In any business, large or small scale, there will always be some risk. It is a matter of how we handle the situation that will determine if our loss, if any, can be controlled or not.
The more I ponder over the issue, the more negative I become, so why continue to ask the "What ifs?"
And as you can see, I did venture into this. It may have taken a lot of time, it may have taken a lot of energy, a lot of hard work, a lot of sleepless nights and the profit margin may be low.
I was once asked if I can survive on e-trading solely, and the answer is NO. I am no big player, unfortunately.
But is this worthwhile? I'll have to say, Yes, it's worth every minute. Going into business is not all about the profits. It is a challenge. A challenge that gives a sense of pride and a sense of achieving goals that you have set for yourself to meet in a certain time frame.
And so, I have no regrets at all. And I am thankful for the push I needed.
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