Saturday 18 October 2014

Online Business

The most stressful week of the month finally has ended. Sat for my online business midterm this morning. After burning the midnight oil the whole night, can say proud also la to get 30 out of 40. But then, when I heard my friend who read only the lecture notes obtained 29, I fucking disappointed lo (-___-)'' coz I read the whole book of 150 pages and the lecture notes are only a fraction of that. You just have that one friend who's forever clever even without revising. Not complaining thou.

I guess after all the hard work and sweat I put in this week, I can spend a little time on my blog, right? Hmm.. Today, we shall talk about online business. The topic business itself already make me excited *cheeky smile Business these days are so easy and convenient for both sellers and buyers. You set up a Facebook page or an Instagram account and start selling your goods. It seems like you sit down, doing nothing yet money keep flowing in. That was what I thought before. On how easy online sellers promote their business, obtain customers and profits keep coming in. After getting myself involved, I never thought things is not as easy as it seems. From what you perceive, it seems like the more likes you get, the more likely your business is to prosper. Even when I told mum, I opened an online business, the first reaction I got from Mousy was, "Wah. So nice. Sure earn a lot." Well that is what others thought of online business. Let's say no lies and get down to the truth part.

The truth part is that:
1. You're competing with HUNDREDS and THOUSANDS of EXISTING online sellers out there. Advantages are obviously on their part because they've been in the business long enough to have regular customers. Know the fact that you lose this round.

2. We're selling PRE-OREDRS items which means your customers are expected to wait for 10-14 working days for the products to reach their hand. Some customers may not want to wait. There's is also a probability for delay at the warehouse in China. So, get ready with tonnes of excuses to explain to your customers without scaring them away.

3. You're new and most importantly you're selling the EXACT same products as others out there. You don't have the X-Factors that will attract potential customers. So you are expected to sell cheaper than others with much lower profitability.

4. Uploading and posting all the photos of the products you're selling is TIME CONSUMING. That includes inserting details of the products like size, color, material etc. You are expected to risk your precious time to post the pictures without a guarantee that they will attract customers.

5. There are so many of products out there and you can't possibility have everything. So here's comes DECISION on what to sell. Most likely, your decisions will reflect your sense of fashion. Your likes and dislikes. But what if your likes do not meet the demand of your customers.

6. Knowing the LATEST TREND or what's hot is important to grab instagramers attentions as first impression is all that matters. You need to keep yourself updated with the latest trend in the market for teenagers if that's your target market.

7. PRICING. How much should you set the price? How much do you actually want to earn? Aside from all those questions, keep in mind that you still need to compete with others but at the same time, you want to earn some for the time you invested.

8. The very problem with online shop is on the POSTAGE/ SHIPPING. Some shipping fees tend to be very expensive and it's not worth selling. While some other site charged extra fees such as processing fee and service fees. All these must be take into consideration.

9. Your customers can be as young as 12 y/o to as old as 50 y/o. The TARGET MARKET is important. If you focus on young girls, do they have the money to buy? And again, be a little considerate. Can they afford buying your products? It would be obvious that the market for the elders are large. None are willing to take the risk to venture there as most elders that age would not even have an Instagram account at the first place.

10. ATTRACTING CUSTOMERS. You need to have plans to attract your customers. As I observed, most online sellers have connections or what they called, 'reviews' where they helped promote other online sellers. In short, it would hard to penetrate into their so-called web connections. Seasonal promotions may help attract customers to your instagram.

11. The most important factor to be think of is the SUPPLY. You need to constantly find suppliers that are willing to provide goods to you at a very minimal cost so you can sell it to the customers at a much cheaper price. Thou earing profit is important, well, let's not outskirt the well being of the customers too.

Well, online shop may seems as easy as ABC as you do not need a capital to open one. Besides, it is almost risk free, aside from the time you invested. The financial issue, human resources, location of shop are not to consider which save you lots of headaches. But then again, for the patience, efforts and enthusiasm one puts into the business, I began to wonder is it worth?

Just my two cents.
Thank you for dropping by
Happy weekends!!


Tuesday 14 October 2014

ALS Ice Bucket Challenge

I feel like I got so many things to rumble about but I don't have time to pin it here. Such a disappointment.  Halfway done thru third semester. Feelings? Can't wait to unofficially graduate from my foundation studies. Haih... I felt like a failure to have to repeat another year of foundation. And as a punishment, I went into isolation. Just to remind me that I'm serious this time round and I can't mess it again. And also, I believe, isolation makes people stronger. If I can survive living alone, I can survive in this harsh world. So far, haven't gone crazy, which is a good thing I guess. I guess the only friend that I'm stuck with here is Sha. But still, I felt that I can never be as close to her as to Annie and Kitty, where I feel like home. Like I've known them forever. Then again, after everything ends, we're going separate ways. She's going to India and I'm on the other hand, still clueless. Perhaps this is the one reason why I can't open up to her because deep down, I know that we're going separate ways anyway.

This week shall be the busiest week of the semester. Just finished Gen Chem 2 test yesterday which compromise of 5 True/False questions. Frankly speaking, I don't revise till the very last minute. A bad habit of mine. I've set in my mindset that it is only 5 True/False questions. How hard can that be? Furthermore, it's only 5%. Of course when you went to exam unprepared, you have this feeling of doubts. Thinking that the statement is true, hell you even wrote down 'True' in the answer box already but the next second, you have thousands of questions popping up to prove that it is a False statement. So far, I think I got one wrong. It was a question tertiary/ secondary hydrogen. I got them mix up with IUPAC naming system of the longest chain when it was totally unrelated at the first place. Such a shame.

It's almost 12 noon here. Just finished with my Oral Presentation on the Impacts of ALS Ice Bucket Challenge. Here, I thought that I'm done with those days where I'm forced to practice my speech in front of the mirror like an idiot for Ms Wan's English class. It was so wrong of me. I've practiced like a zillions time in front of the mirror last night (exaggerate much when I was enjoying my time doing online shopping. Hahaha. But I did somehow practiced my speech. Maybe about 10 times) I was so confident with my speech but it all went downhill the moment I held the microphone. Such an embarrassment when Ms Sharmini made a remark that "They fighting about whose going to talk again". Well, last week, we (Sha & me) both refuse to stand up and talk about the topic critical thinking. Reasons to my refusal is that I've already find the information needed and since it's a group work, she should do the least of her part which is presenting it to the class. We argued for 10 minutes till Ms Sharmini got fed up and continued with others. Trollolol. *evil grins

So for the presentation, I was on the part of good impacts of the ALS Ice Bucket Challenge. Presentation is all about confidence, pronunciation etc I don't think the point is important. One can simple googled the points and complied them together. The lecture won't know anyway. Is not like she asked for the references. That is what I did. Reading countless of ALS Ice Bucket Challenge's articles on the net and copy paste them. I wouldn't say it is plagrism because I don't copied 100%. I did edit the points to make it sounds smoothly and interconnected. So clever of me. It was a difficult one to find good impacts of the challenge. Articles out there seems to focus more on the criticisms and the bad side of it rather than the good side. The obvious good side is that it raises money for the ALS Association. Here's my speech.

          "A very good morning. I look at the camera, hold a bucket of ice water over my head, tip it upside down, post the video on my social media and then nominate three others to do the same. Along the way, my nominees and I use the opportunity to donate to the ALS Association, a charity that fights amyotrophic lateral sclerosis, a total neurodegenerative disease. Unless you’ve been living under an igloo, you know that the Ice Bucket Challenge has become not only the social media phenomenon but the new bench mark for how peer-to-peer fundraising can create massive impact. So today, we’re going to talk about the impacts of ALS Ice Bucket Challenge. I’m Karen and these are my group mates.
          Well for one, we all know that the ALS Ice Bucket challenge is a charity stunt to raise money for amyotrophic lateral sclerosis (ALS). The original idea was that when the gauntlet was thrown down in the ice bucket challenge, you either dump ice water over your head or donate $100 to ALS Association if you failed to do so within 24 hours. Millions of people have shivered and screamed while dumping buckets of ice over their heads and the sensation felt at that split of second gives them the idea of how those with ALS feel each and every day.
          Since the first ice bucket fell in the name of ALS, the challenge has gone viral, inspiring nearly $100 million in donations to the ALS Association. A big Internet sensation like this naturally brings criticism. But there are reasons to why the ALS Ice Bucket Challenge is awesome. First and foremost, it raises money for the ALS Associations. Most people seem to be opting for both, donate and getting soaked. The bulk of money made from the ice bucket challenge will help offset the astronomical costs of living with the disease. The cost of an individual patient can be tens of thousands of dollars to a quarter millions dollars in care per year. Power wheel chairs, gracing, respiratory equipment. We’re not even talking about ventilators. We’re talking about non-invasive things, so people can sleep at night.
          As you can see from the slide, 27% of the funds are allocated for research. Research is another part of the funding equation to find new treatments for ALS and to increase the number of scientists working on ALS. As is the case for most rare diseases, progress in ALS research has been severely hamstrung by funding shortages. The funds allocate for the research has been identified as critical to finding cure and effective treatments for ALS.
          The efficiency of the campaign, for one, is awe-inspiring. It encourages people to donate to charity in general especially younger generations. The power of social media and technology plays a large part in young people’s fundraising efforts. In addition to the fundraising campaign’s convenience, its popularity among friends and high profile celebrities plays a large role in the strength of the millennia’s involvement. From Facebook’s founder, Mark Zuckerberg to talk show host, Oprah Winfrey, footballer Cristiano Ronaldo, singer Justin Timberlake and to our very own local celebrity, Lisa Surihani and supermodel Amber Chia, they have all been ice-bucketed. These high profile celebrity figures helped seed the idea that it is ‘cool’ to donate to charity.
          It proves that the Ice Bucket Challenge has been the perfect blend of accessible, fun activity, understandable, compelling cause and networked social proof. In other words, it’s something easy that people want to do. It encourages younger generations like us to become more engaged in charity while having fun. It is a win-win situation.  This is also a step to build a stronger culture of generosity."
It's a 4 minutes speech. My presentation would be better if I don't stutter to much in front of the class, trying to remember my next sentence. This will accounts 10% so I hope Ms Sharmini is linent enough with her marks. I'm quite happy because at least we have the slides compare to others that came empty-handed.
And recently, I've been so busy with my newly open online business. It's open for business on 7 October (just for record purposes) I guess I don't need to named it here as you guys know where I obtain my stocks and such. What's the point, right? For the name, I've choose something close to the heart. I thought of something like "Little Lady Boutique", "Red Devil" and "Pristine" for the classy name but then they all lose to this very one. The name can't be any better than this. It's just perfect. I'm happy to be in the business as I'm always passionate about business, selling, buying etc. I'm finding ways to obtain a more lower cost products so I can sell it at a cheaper price. Searching high and low for bag, accessories, bag and clothing suppliers. My vision of the business is to have all under one house and in further future, I would also like to venture into the guys fashion as well. Well it is obvious that there are lots of competition out there. As for the profits, I really don't take much. Perhaps RM 5 only for each products sold. I'm looking forward to the challenges that will comes in my way. This business is something I looked forward too every morning thou I haven't obtain any customers as for now. Huh!!
I enjoyed my every minute in the Introduction to Business class. Feels so refreshing. I may not be in the field but business is so versatile. Who knows what might happen in the future? But as for now, perhaps studying in UCSI isn't that bad after all. I can at least learn something about business. Something that KBU doesn't offered for my course. Last week, we're required to come out with an innovative product for the market. Looking at my group members, I sighed silently. They are so not passionate. I remember this talk during my high schools days with Dylan and Lynn. We're talking about how cool to have a glasses where we can save and views notes from the lens itself since all of us are wearing spec. And it will also have voice recognition so we can scroll the pages easily. This is all for the convenience to cheat in the exam. Hahaha. And of course the idea was already in the market today. The Google Glasses
When I was required to come up with something innovative, my mind went blank. What is still not in the market? We're moving so fast forward, constant keep producing products to make life and works easier. And with fast-rising country like China, what is there still not in the market? China keeps coming up with all kinds of weird products like this Easy Butter Former. I don't see the point of this innovations. How is spreading the butter manually be any difficult than squeezing the butter into the container? Imagine washing the containers with all the oily butter stain. Godness!!!
metex easy butter former grater
Well that is just an example. I have this idea on my mind and I shall pinned it here today so in future if I was asked to invent something again, I might just grab this idea. I don't know about you guys but I have problems with earphones. In my drawer, I have at least 5 earphones wired up at the end corner. The reason is because the other side of the earphone isn't functioning. Something with the internal wiring, I guess. It's so damn frustrating to have only one-sided earphone. They are still the drawers, surrounded with spider webs are because I feel like it's a waste to throw them when they still one side that is functioning. Why inventors haven't come out with an earphones that can be replaced? Like if one side spoilt, I can simply bought the replacement at maybe a fraction of the earphone price. Or is it in the market already? I don't know. I don't really have time to google to clarify that piece of statement. It's 2 and it's time for my noon nap. have to burn midnight oil again tonight with Algebra test on Thur and Business test on Sat. If I am to invent this product, I shall name it "Pluck & Plug Earphones". And also, the wire length of my very earphone can be adjustable. Just like Lego bricks. You can join the wires if you need longer cable. How cool is that?
It's time to go and I still have thousands of things to talk about. Perhaps after the test, I shall allocate some time to have another entry up before November. But then, I still have Intro to Business Assignment and Presentation which is to be due on 24 Oct and there's still no progress on the discussion. Wish me luck. And I think somehow, somewhere,  there must be someone out there that miss me. Can't the poor girl put her hopes high? So I shall be a little thicked-skin today. End my longest entry with a selfie of myself! *grins
Well, if you expecting a cute, kawaii selfie, I'm sorry that I disappoint you.
Thanks for reading... =D