Anna Agoncillo, Author at MoneyDigest.sg

Do You Have The 5 Traits Of A Good Boss?

If you want to succeed in running a business, you need to understand that it takes more than just telling people what to do. You must have the qualities that make you stand out from the rest.

Do not get me wrong, possessing the traits of a good boss will not make you perfect. This is because an individual must act based on these traits. You cannot preach to a crowd if you are disorganized yourself.

Fortunately, these traits can be and must be learned through repetition. Start by knowing what some of these are:

1. CONSCIENTIOUSNESS

Conscientiousness, a trait in the Five Factor Model, has long been associated with success. This is because people who are highly conscientious are dependable and organized. While, people who are low on this trait tend to be more careless, spontaneous, and laid-back.

You can easily spot this trait in the workplace. A boss with a high sense of duty comes to work on time, follows the projects’ deadlines, and avoids unnecessary absenteeism. Acting beyond what is required of you (going above and beyond) is also an indicator of your conscientiousness.

2. COMPASSION

As the noble Dalai Lama once said: “Compassion is not religious business, it is human business…”

He highlights that regardless of our status, compassion is an essential trait for human survival. It is also applicable in the workplace. A compassionate boss can create a workplace filled with people who value each other and who go thru the hurdles as a unit. After all, the Latin etymology of the word “compassion” translates to “to suffer with”. Try to practice compassion in everything that you do.

3. CREATIVITY

Some of the world’s most inspiring leaders are creative individuals. These inspiring individuals include Facebook’s founder Mark Zuckerberg and Patanjali Ayurved’s founder Baba Ramdev. In the local scene, Jeannie Chew of Soaplah comes to my mind.

The invention of the Soaplah came from Jeannie’s previous experiences with skin problems. She was troubled with eczema and other skin issues at a young age that she started making her own natural soap. In her journey to find the best solution, she handcrafted her soaps using natural ingredients such as pure essential oils with anti-microbial and anti-inflammatory properties. Her hard-work paid off as Soaplah offers a variety of soaps that can absolutely soothe even the most sensitive of skins!

Image Credits: www.facebook.com/soaplah

If you are like Jeannie, creative thinking can spark a vision or a sudden epiphany. The road to perfection comes with mistakes. It is your job as a good leader to navigate the wrongs into rights.

4. INTEGRITY

Majority of the people agree that a good boss must uphold integrity and sincerity. Integrity entails honesty in internal and external aspects of the person. It requires you to tell the truth in every situation.

For instance, an honest boss is willing to share the good and the bad news to its employees. It is because he or she knows that they deserve to know.

5. ACCOUNTABILITY

The grave responsibility bestowed on you comes with great accountability. Accountability is not only for the achievements of the company but also for its downfalls. There are no “absolutes” in business. One can never ascertain the things that can happen in the future after making a decision.

Image Credits: pixabay.com

Be fearless and accept the responsibility of your actions. If necessary, hold others accountable too.

Sources: 1, 2, 3, & 4

What Exactly Are Mutual Funds And Unit Trusts?

Before investing your hard-earned money, it is a good idea to educate yourself about the different types of investments. Let us start by defining both Mutual Fund (MF) and Unit Trust (UT).

MUTUAL FUND

MF is an investment that gathers the investors’ money into a pool to make multiple types of investments known as the portfolio. The compensation of the investment managers rely on how well the fund performs. Thus, you can rest assured that they will work hard to make sure the fund grows well.

Derived by accumulating the status of the underlying investments, the performance of the mutual funds are typically tracked as the change in the total market cap of the fund.

Players

There are two important entities when taking on the Mutual Fund. I am pertaining to the professional investment manager and the shareholder. Professional invest managers operate the MF by investing the capital and attempting to produce gains for its shareholders. Therefore, each shareholder participates proportionally in the gain or loss of the fund.

Process

As an example, let us consider Canada’s stock market. Gabby wants to try his luck at the Canadian equity market by investing in the S&P/TSX Composite Index. It consists largely of the energy, materials, and financial sectors with different percentages allocated. Performance of the MF is tracked as the percentage of change to its overall adjusted market cap.

UNIT TRUST

UT is distinguished from the MF as it follows a trust structure. Rather than putting the gains back into the fund, it provides profits straight to the individual. This investment scheme is available in Australia, South Africa, Namibia, Kenya, Fiji, Ireland, New Zealand, Malaysia, and Singapore. Both the local and foreign funds are regulated as collective investment schemes in our country.

It works by pooling money from multiple investors to invest in a portfolio assets in lined with the stated investment approach and objective.

Players

There are several important entities when taking on the Unit Trust. Professional investment managers or fund managers operate trusts for gains. The trusts as well as its rights are owned by the unit holders. The unit holders and the fund managers are mediated by the registrars.

Process

The process that the UT goes through depends on the goals and objectives of the investment. The value of the assets in its portfolio is equates to the amount of units issued multiplied by the price per unit. Afterwards, you must subtract other costs such as management and transaction fees.

Image Credits: pixabay.com

COMPARISON

Both the MF and UT gathers the investors’ money into a pool to make portfolios, which are managed by the professional investment manager. The major difference between these two investment schemes is in its structures. Basically, Mutual Fund issues redeemable shares while Unit Trust issues units. It is up to you to find an investment scheme that suits your lifestyle.

Sources: 1, 2, 3, 4 & 5

6 Things You Can Learn About Money From Professor X-Perience

“Who is Professor X-Perience?”, you may ask. It is a persona that I created to embody our experiences.

Our experiences consist of the overall process of sensing and doing things. As far as I know, not everything can be learned from the pages of the book! Exploring the world with your own eyes gives you the most valuable lessons about money.

On that note, here are some of the financial realizations that came from my experiences:

1. GIVE AND YOU SHALL RECEIVE

Whether you want to admit it or not, it is rare that we receive something without doing anything. This statement does not only pertain to finances as it can be applied to other areas in life like opportunities and friendships. If you want to increase the perceived value of what you receive, you must give it out first.

Why is this so? I realized that you reap what you sow. Almost everything that happened to me was a result of my actions. I was able to enjoy an overseas trip because I worked for extra hours and saved up for it.

Image Credits: pixabay.com

2. EARN YOUR MONEY HARD

Since you worked hard for your money, you must spend it wisely.

I never saw the true value of money until I had my first full-time job. When I was younger, I spent my part-time pay on shoes, clothes, tickets, and other materialistic things. The feeling of satisfaction was short-lived as these things are superficial. Nowadays, I spend my money on long-term investments.

Being independent with my finances made me realize how important it is to practice budgeting and tracking your expenses.

3. DO PRIOR RESEARCH

Days before a job interview, I make it a point to do prior research regarding the company and the position that I am applying for. Make your way into the basics such as the company’s mission and vision as well as the position’s duties and objectives. Then, dig deep into the issue that is rarely spoken in our Asian culture – the salary. Be prepared to provide a salary range.

Spend a substantial amount of time in finding out the average salaries for similar jobs in your particular field. Websites such as salary.sg, hudson.sg, and payscale.com are helpful for this task.

4. EXPLORE DIFFERENT JOBS

Some people are so creative that they cannot be confined in a cubicle. If you are one of them, do not limit yourself to the 9-5 PM office jobs. Learn to explore other opportunities such as working online.

Saying that Internet changed our generation is an understatement. Personally, it influences my bread and butter. I am freelance writer that is able to choose from a variety of markets. And, you can too.

You can write for online or print media that go beyond magazines and newspapers. Setting up your own website or blog is also doable. Furthermore, book publishers are always searching for the next big thing. They are in need of people to write their marketing letters, announcements, e-books, and more. An ambitious scribe may dive in to freelancing and get its profits. Note that training, skill, and experience affects your rates.

5. REWARD YOURSELF RESPONSIBLY

According to studies by Behavioral Psychologists, positive reinforcements motivate people to work more. I support these studies as I savor rewards after a long month of work.

Rewarding yourself with a responsible amount of 5-8% of your monthly salary is recommended. Find interests outside of your job such as painting, dancing, yoga, or cooking to ease your daily stress. Also, rewarding yourself with a hobby is a good way to keep you motivated.

6. KEEP YOUR COOL

When faced with embarrassing money-related situations, it is best to keep your cool.

I was working as an administrative officer at a fitness studio a few years back. A rising Hollywood celebrity came to pay but her credit cards got declined. She was furious at me and gave her debit card instead. Thankfully, the transaction was successful.

You can handle this situation better by being calm. Talk to the personnel privately and arrange an alternative form of payment. Consider going to the nearest ATM to withdraw some cash.

Image Credits: pixabay.com

Comment down below to share your own experiences with money.

5 Steps To Write An Irresistible Business Proposal

A business proposal (BP) is a written document that is sent to a potential client in order to obtain a specific goal. It is a crucial tool that can help you navigate and manage your business.

The challenge is for you to write a proposal that will keep your prospects hooked!

UNDERSTAND YOUR PURPOSE

It makes perfect sense to begin your journey by identifying and understanding your purpose. Answer this simple question: “What product or service are you selling?

A business proposal is created to earn sales and not just to inform people about what you are offering. Understanding the purpose of your business proposal will help you define the problems it needs to address as well as its solutions that provide value.

CREATE AN OUTLINE

After knowing the direction that you intend to take, it is time to organize your business plan by building an outline. The six fundamental parts of the BP are the executive summary, business overview, offer description, marketing analysis, detailed implementation, and financial projection.

The executive summary is synonymous to the abstract of a research paper. It includes the essential elements of the business plan that your client can easily read in a glimpse. Be sure to include the background of your business, its mission and vision, the market opportunity, its financial requirements, the competitors, and its financial projections.

Business overview gives a background of your business. It includes when and why your business was formed, its mission and vision, its business model, and any existing strategic relationships with other brands or institutions.

Image Credits: wikihow.com/Write-a-Business-Proposal

As the name suggests, the offer description highlights the nature of the products and services that you are selling. It seeks to describe these in detail by including information such as the manufacturing process and the availability of materials.

Inside the marketing analysis is the layout of your marketing strategy that addresses customer service, sales, public relations, and advertising.

The second to the last section is where the investors focus on – the detailed implementation. This part includes the dates and the deadlines of your business plan.

Lastly, the financial projections specifies the “quantitative interpretation of everything you stated in your organizational and marketing sections”. Include your projected profits and losses in the next three years or so.

DO SOME RESEARCH

Tailor your business proposal to the personality and the “vibe” of your potential client as much as possible. If you prospect’s target market is the youth, highlight the benefits of your products to the hippie millennials. Do further research on the needs and wants of your prospects.

This will ensure that your BP is comprehensive.

WRITE THE CONTENTS

Curtains are all set. It is time to perform! Let your thoughts flow in harmony with the outline you set.

Add additional information such as the people involved in the business, your successful track record, and the evidence of the business’ financial stability. This will strengthen your claims as well as your perceived competence.

EDIT THE PROPOSAL

The last step entails that you transform into your own critique. The face value or the appearance is as important as its content. Make sure that there are no grammatical and typographical errors. If you are not good with words, you can always high a professional to do the task.

Image Credits: wikihow.com/Write-a-Business-Proposal

Remember that the BP must manifest how you and your business can benefit potential clients.

Sources: 1, 2, & 3

Delicious And Affordable Places For Churros In Singapore

Just when I thought that the CHURROS CRAZE was long gone, it came back with new and improved versions. Churros come in every color, shape, and sizes. You read that right! Retailers stepped up their games with unique flavors such as Ondeh Ondeh and Sea Salt Charcoal.

Know where to look for these amazing flavors (and more) by reading this list of affordable places that serve Spanish-style Churros…

MORE OF THE GOODNESS

Alt-Yard is the wonderful off-spring of Fluff Bakery and Penny University. It serves chunky churros, specialty coffee, and other delectable desserts. By desserts, I am talking about finger-licking flavors such as Nutella Red Velvet Cupcakes and Chocolate Chewy Marshmallow Cookies!

Going back to Alt-Yard’s take on the Spanish street food, their churros are lightly drizzled in cinnamon sugar. Accompanying this made-to-order churros are the affordable dips such as Salted Caramel ($1) and Chocolate Ganache ($1).

If you are looking for a unique spin on the local favorite, try the Ondeh Ondeh Churros ($3.80 for 7). It comes with a Gula Melaka dip and is coated with shredded coconut shavings. This batch of churros is so good that it will leave a lasting impression.

Image Credits: Muhammad Safiudin

Location: 5 Tampines Avenue 3, Tampines West Community Club, Singapore 529705

STAR OF THE CROWD

Say you decided to invite your friends at Clarke Quay to party the night away after an exhausting week at work. With several establishments in that area, try chilling at a place that is beloved by the night crowd – the Alegro Churros Bar. It serves authentic Spanish street food paired with a range of beer and other liquors. Its authenticity is due to the special pulling equipment that was imported from Spain. This said equipment is used to make tasty churros. What makes their churros special is its texture that is crispy on the outside but chewy and soft on the inside.

The average price per person is S$13, according to hungrygowhere.com.

Image Credits: hungrygowhere.com/singapore/alegro_spanish_street_food/photo/80bd0000

Location: 3D River Valley Road #01-13, Singapore 179023

OUT OF THE ORDINARY

Tired of the plain looking churros that you normally see? Take a chane on the Churros Factory instead. Savor the divergent flavors such as Sea Salt Charcoal, Red Velvet, Raspberry, and Ondeh Ondeh Churros.

Churros Factory’s Ondeh Ondeh Churros with Gula Melaka has a crunchy brown exterior that is filled with pandan delight (S$7 for 6 pieces or S$5 for 3 pieces)! While the Raspberry Churros are sinfully scrumptious when dipped into the chocolate sauce. Worry not about their sugar to pasty ratio as the sweetness is just right.

Image Credits: facebook.com/churrosfactorysingapore

Locations: Several outlets in Singapore as seen on churrosfactorysg.com

Have fun snacking! 🙂

Sources: 1 & 2

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