Cars are something that catch the fancy of one and all. Don’t we all stop to admire the beauty of an exotic luxury car on the road?
One of Hong Kong’s richest men and CEO of life insurance broker giant R.E. Lee International, Calvin Lo, has a big collection of some of the best machines ever made. From the Rolls Royce Phantom to Lamborghini Aventador to Mercedes G65 AMG, he has it all. The Pagani Huayra BC, however, is the jewel on the crown in his car collection. This iconic model is usually in any billionaire’s car collections. With a wonderful design, the Italian made car is valued at $2.5 million and only 20 have been made. The two-seater sports vehicle is powered by a V12 6L engine producing 750hp.
Lo, has one of the most exotic car collections in Hong Kong, including this Pagani Huayra BC.
Even though Lo’s personal net-worth is estimated to be $1.7 billion and has a fleet of exotic cars to choose from, this camera-shy billionaire goes around town in his chauffeured-driven Mercedes Maybach.
The supremely media-shy billionaire, Lo, captured here by reporters in his Rolls-Royce Phantom Drophead Coupé.
There is a significant reason why Microsoft Corporation continues to thrive alongside massive tech names such as Apple and Samsung. It taps the global market due to its persistence. Throughout its journey to innovation, it made some incredible moves and a bunch of missteps. Who can forget about Bob and its emergence in 1995?
On that note, here are some of “Microsoft Corporation’s Most Expensive Fails”.
2006: ZUNE
As people bid farewell to the portable CD players, early 2000s embraced the integration of a music player and a downloading service. Apple took advantage of the rich financial potential in the music hardware. In fact, it sold 100 million iPods by 2006.
When Microsoft decided to compete, it was to late! Launched in 2006, Zune was considered as one of Microsoft’s worst product of all time. How so? It not only came with a US$249 (about S$338) price tag, but it also came with an unappealing exterior (e.g., having brown as a color option). Zune’s sales in 2009 were around US$117 million (S$161 million), while Apple’s iPods sold about US$3.3 billion (S$4.5 billion) in the same period of time. Imagine their dismay!
2010: KIN
Spending about US$1 billion (S$1.38 billion) in development and a partnership with renowned designer Danger Inc. were not enough to save Microsoft from the Kin’s downfall! Kin One and Kin Two were released in 2010 as Verizon exclusives. These phones featured touchscreen displays and slider keyboards. Furthermore, it was packed with social-networking capabilities including Facebook, Twitter, and MySpace. So far, so good!
However, the Kin phones did not support downloadable games and applications. Every single Kin phone required a data plan too. Within two months, Verizon stopped selling the Microsoft Kin because of its underwhelming sales. All traces of kin were gone within a year.
2012: WINDOWS RT
Windows RT is a discontinued operating system developed by Microsoft. Many believe that it was a predictable demise. You see, the Windows RT confused its users as it was launched alongside a superior operating system – the Windows 8. They may look the same, but they do not work in the same way!
Image Credits: pixabay.com
Windows RT was designed specifically for energy-efficiency. It could only run software downloaded from the Windows Store, which was not enough for many people. Selling low-cost products that operate on it were not helpful either. With these reasons, Microsoft Corporation lost about US$900 million (S$1.24 billion) on unsold Surface RT tablets by 2013.
Which Microsoft products did we miss? Feel free to express your thoughts below!
Starting or running a business isn’t the easiest thing in the world. In order to gain traction with your newly developed small business you need to have a plan in place to know where to start and the direction you need to move in. What many unsuccessful business owners have in common is a lack of a business plan. If you’re looking to begin a small business, but don’t have a business plan in place, then you need these tips below.
What To Include In Your Business Plan
Your Business Concept
Your business concept is where you discuss key areas like your business structure, your industry, particular products or services, and an idea on how to make your business successful long term. Without a basic business concept you run the risk of falling short in the direction you want to take your business.
Your Strategy To Implement Your Concept
Your strategy to implement your concept is important. Why? Because it holds key elements you need to consider that will help you with the direction you want take your business. Your strategy should include things such as the goals you have for your business, how you plan to reach those goals, the actions you need to take in order to achieve this, any unforeseen complications that may occur during this journey, and when you hopefully plan to reach them.
What You Offer and The Markets You’ll Pursue
What you have on offer and the target market you want to pursue also needs to be covered in your business plan. You need to have solid and clear information about your products/services, what makes then different, and why customers would want to purchase them from you and not your competition. Along with this you need to know which markets you’re looking to target. Who will be your customers? What’s your target demographic audience? How will you attract and retain these customers? What sets your business apart from your competition? What methods will you use to capture your target audience? Answering these questions in detail in your business plan can help lay out the foundation to success so don’t be afraid to dig deep when writing this key area.
Employee Plan and Strategy
If you’re a business that has key employees, it’s a good idea to have a strategy of where those employees will be in your business when you plan on implementing your strategy above. Key things to include is what they’ve done, the skills they can offer, and how long they’ve worked for your company. While this may not be as important as your business concept, it’s still an important factor. Without key personnel in place, your business won’t run as well as it could do.
Finances
To grow your business and take it to the next level you need funding. It’s ideal to work out how much financing will be needed from your projected financial statements. These statements can give you an overall idea on how much you could make once your strategies play out. While it’s in some way guessing, it can give you a detailed footprint and rough estimate on how much you need to be making and spending to be able to make your business plan work for you.
Business plans are an essential part of any business. Without a business plan you run the risk of derailing the future success of your small business. We hope you liked these tips from Capstone Financial Planning. Are you ready to write your business plan?
This month is filled with a roller coaster ride of emotions. Concluding my September was a big event that my branch held. This nationwide event stirred varying conflicts of different degrees. The highly stressful environment induced a simple misunderstanding, which became a whole ordeal among the team. You see, some people began taking sides. A week has passed before my boss noticed that something is wrong. He needed to resolve the problem immediately! Fortunately, his intervention worked out.
While business owners know that workplace conflicts affect productivity and employee morale, not many are aware that office drama can drain their funds. In 2008, the publishers of the Myers-Briggs Assessment and the Thomas-Kilmann Conflict Mode Instrument conducted a study on workplace conflict. Results showed that American employees spent nearly 3 hours per week in dealing with workplace conflicts. This is equivalent to approximately S$490 billion in paid hours or equivalent to 385 million working days. These crazy numbers pose an alert to people running the workplace.
Workplace conflict’s effects are not limited to time wasted. 25% of employees reported that they avoided conflicts by skipping work or by calling in sick. Equally alarming, nearly 10% reported that conflicts led to project failure. These negative behaviors translate to financial losses, especially felt by small businesses.
It is no secret that we spend our time comparing, gossiping, retaliating, and playing defense. These countless amounts of time is much rather spent on customer interactions and other productive activities. Navigating yourself around the whole drama is important. You do not want to lose some loyal customers just because two employees are tarnishing your organization’s image!
On that note, I have listed some practical ways to deal with workplace conflicts.
Image Credits: pixabay.com
1. Employers shall create a workplace environment that empowers employees to manage conflicts. Regardless of your employee’s role in the organization, HR officers must conduct behavioral questions that tests how one shall react during conflicts. For instance, an applicant may share about his or her previous experiences in dealing with workplace issues.
2. As a part of cultivating a conducive environment, you may encourage healthy dialogues or debates in small groups. Help your employees appreciate the value of differing perspectives and analyze each one.
3. As much as you want your employees to resolve their conflicts on their own, you must know where to draw the line. Do not expect that everyone can handle every problem on their own! Ensure that your employees can count on you when they have encountered inappropriate or illegal behaviors. You must be immediately notified when there are indications of physical violence, sexual harassment, theft, or substance abuse.
4. Remind your team that they shall focus on the unpleasant workplace behaviors and its consequences when trying to address a particular conflict. They must not take things personally. They are not there to assassinate someone else’s character. They are there to improve their team’s dynamics.
5. Provide ongoing training on conflict resolution and stress management. These types of training can lead to self-assessment and self-understanding of one’s conflict-management skills. Drills can help them identify the pros and cons of using a certain style.
6. As an employer, you must not put the workplace conflicts on top of your priority list. Actively listen to your employees and support them in every way possible. But, you do not have to automatically take ownership of their problems. Be able to discern whether an issue needs immediate action or not.
7. Say that one employee is consistently causing the workplace dramas. Furthermore, you do not see any improvements as time passes. Pull this employee aside and talk to him or her in a mature manner. Monitor his or her progress by talking to the team periodically. This can help prevent any future conflicts from spiraling out of control.
Image Credits: pixabay.com
As a leader, you must navigate around the issues with objective lenses. Know the truth of each sides and run through the possible interventions that you can offer. Every move counts!
Co-working has inevitably become a part of the modern industry since way back in 2011, when it little by little, started to get known in Singapore. With the steadfast everyday call of financial liabilities, business-minded folks often seek for workstations that are not only flexible but also affordable. Here are some must-try co-working spaces with rates under $50/ day in Singapore.
THE HIVE
With a day pass of $30, The Hive, located on the corner of New Bridge Road and Hong Kong Street, allows access to desks, lounge seats and a rooftop café where events and talks are hosted and network opportunities are made possible. This converted four floors of shophouses is best known for its natural lighting and custom-made furniture. What’s even great is their “Hive Passport” that permits free access to other Hive branches situated in Bangkok and Hong Kong.
THE CO
Work is granted easier when provided with best amenities. An eight-story building at High Street Location hits this aim. This is known as The Co, a workspace which boasts its high-end meeting rooms, private offices, board venues, breakout spaces, and terrace working areas. Leisure services are even part of the bundle such as a cafeteria, pool, restaurant, pool tables, eateries and more. All of these that you can enjoy when you avail an individual desk which can go for $45 a day.
MOX
Mox is more than a co-working space. It’s as well called as a co-making space, intended more for creative entrepreneurs. This four-story building in Katong houses Singapore’s first and largest independent design resource workspace. As aimed by Kent Teo and Kishore Buxani, the minds behind its launching, Mox is to provide a proper space for the creative community. The three floors of Katong Point with 40,000 sq. ft. are filled with specialized rooms and equipment, co-working spaces and an “experiential retailing space”, which makes it a literal mall. Some great features include 3D printing room, premium software-equipped iMac kiosks, woodworking studio, sewing room, ready to use photography studio, café with DJ booth and more. Rates are affordable with $30 offer for a day pass.
PAPERWORK
If you’re part of the growing creative community, worry no more because here’s another budget-friendly workspace to tap on. Having a 3,500 sq. ft. area, Paperwork is a business hive and a designers’ hub at the National Design Centre that can accommodate 60 individuals. This co-working space is a co-creation venue opened by design collective Paperspace, which has branches overseas namely, Thailand and Philippines. Moveable partitions and modular furniture are brilliantly made accessible and flexible so to cater events, hold group gatherings and create individual capsules. Conferences are now extra-modern with their high-spec presentation and web video conferencing facilities. Explore and collaborate in this inventive workplace with just $40 for a day pass.
SMARTSPACE
Working late at night is not anymore a problem. Smartspace is an 8,000 sq. ft. a dynamic apartment-like modernized workplace that is 24/7 available. Inside this white-walled co-working space are private meeting rooams, convenient work stations, privy desks, and accessible office essentials, magnificently provided for a user-friendly work stay. A table tennis area and a galley are also available to make your $30 day pass worth it.
WORKHOUSE
Workhouse is a heritage shophouse in Little India which offers a day rate of $40 for a limited access. It brags its Brooklyn vibes with an industrial stylish design. Amenities comprise of open layout offering offices, convenient meeting rooms, secluded conference rooms, full pantry, customizable work areas with storage, 24/7 availability, fiber optic Internet and an outdoor working terrace. Workhouse also accepts rentals for meeting room, conference room and event venue for certain occasions at a reasonable price. Members and interested non-members are even entitled to partake in their monthly social undertakings to empower networking and discussions.
Did one of these co-working spaces satisfy your workplace checklist? An early bird catches the worm as they say. Move now and make things happen.
