Archive for June, 2007

Aggressive Style Leadership

Wednesday, June 20th, 2007 by Alan Yu

I have been watching that Hell’s Kitchen show recently and I guess most people know what the tone and style of that show is all about. Now the one thing that clicks on the mind for most people is how all of the candidates get yelled and screamed at for not doing a good job in a military type of way I guess you can say.

One person told me before that it actually is like that in a lot of the busier restaurants. The usual comment I hear is that it must be so cruel to be in an environment like that. The funny thing is I have actually been through aggressive type of leaderships. While I don’t use that style myself, going through it has actually strengthened me overall.

Really, an aggressive style in these types of situations I’d say takes a lot of discipline to get through and can make you a really good listener. Behind all that yelling from the other person is really a message of “I want to see you at your best” type of thing and you really need to be rock solid to be able to overlook that while seeing the real meaning behind it.

That can especially be a great trait to have if you run a business as well as many times by not listening to what people are actually saying as oppose to focusing on their emotional reactions you tend to misjudge the situation and make things worse. It’s almost like the old saying on how if you say encounter an angry customer who is yelling their heads off, keep in mind that they are mad at the situation and not you.

It might sound a little silly at first, but experiencing something with that type of aggressive style can be beneficial in the long run I’d say.

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Going Full Fledge With A Business Idea or Playing It Safe

Tuesday, June 19th, 2007 by Alan Yu

I was talking to one of my friends the other day and he had an interest in creating his own business mainly as he wanted the experience in doing so while at the same time generating an income that better fits to his lifestyle. Now he currently works for a company full time and so he hopes to use that as his safe net so that if his business fails he will always at least have something to fall on.

This is always an interesting topic as everyone has their own take on what is necessary to turn an idea into reality. In general, the most common thing is that people either say you shouldn’t quit your day job as the possibility for failure is high and on the other side you have people saying that by not going all the way you have failed already as you don’t have the necessary confidence in your own idea to do so and your full effort will never be there in that scenario either.

Everyone is different, but for myself I believe it is better to go full fledge assuming you have the right plan, attitude and strategy to cover basic living essentials. Because really, when it comes to the risk factor assuming you have a great plan, waiting it out too long while not giving your full effort on something is equally risky when you think about as you could be losing all that time by not making things happen now.

Guess it all depends if you are one of those “Go big or go home” type of people or a “Safe and steady” type of person along with what kind of expectations you have for yourself during a specific timeframe in your life.

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How Many Income Sources Is Ideal?

Monday, June 18th, 2007 by Alan Yu

This was kind of an interesting comment that a person brought up to me as it’s no secret that a lot of people who are financially well off don’t just rely on one thing as their only way to generate money. He then told me how he had about ten different things going on which helps him to make money everyday and that it is silly not to do as many things as possible.

That got me thinking as to how many different sources of income do you really need so that you can say to yourself that you are effectively maximizing your efforts in making money based on your lifestyle? Just to clarify, I personally would consider getting interest from a savings account as an income source as well for this type of a situation. At the same time, it has to be something that you do actively or on a consistent basis.

With that in mind, I think most people would basically have two sources of income which is basically from their regular job and then by keeping some money at the bank to earn an extra small amount. Some people then try to get a little wiser by investing their money into something safe which would make it three ways. I’d say for most it stops about there.

Now some would say that it doesn’t really matter how many sources you have but rather how much you are making in total which is the real question as it’s better to make say $1000 one way than needing three different ways to do so. Speaking for myself, even if I had one source that was generating say a billion a year I would feel kind of silly if I did not have other income sources as to me it’s not so much about how much you make but rather how much did you lose by not doing different things as well?

In general, I would probably say four is an ideal number to tell yourself that you are on the right track in terms of exploring your options. Basically you have your main line of work that you do for the most part of your day, a method to generate income when your money is idle, finding a way to invest the money that you already have to make more and a small task/activity on the side which also generates money for you. Of course in the end it’s about living comfortably and I’d say this can help in doing so as it can make you more confident about generating an income should a situation arise where one source is no longer a viable option.

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Father’s Day

Sunday, June 17th, 2007 by Alan Yu

So today is father’s day which means most people have either gotten their fathers some kind of gift or had a family gathering of some sort. I guess many also consider these types of occasions as a money grabber as it seems like one of those things that should be a normal everyday thing that shouldn’t require it to be an occasion of some sort to do things.

For these types of occasions though, it seems like just spending time with people tends to be the real gift that most people want. Speaking for myself, I know that just having a gathering makes my parents happy since it is not an everyday thing anymore considering everyone is all over the place in different directions.

We decided to try something new and went to a Japanese steakhouse. It was a first for me and basically we had a chef cook right in-front of us and the person did all sorts of daring things such as flipping dishes after they have placed food on it already. I was able to see one blooper though where in a different table the chef tried to get fancy by tossing a small piece of meat on a person’s dish. Instead, the customer got an up close and personal experience on what it feels like to get hit by a speeding hot piece of meat. He was okay though, so all was well.

Overall it was fun. Till next time I guess.

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Using Free Things To Get You To Pay More

Saturday, June 16th, 2007 by Alan Yu

I was in a department store today and it was kind of interesting to see just how vulnerable so many people are when they are presented with something that is being given away for free. The first example was that there was a person announcing in the store that they were giving away this free kitchen knife of some sort and my goodness did that get a herd of people flocking over for this little tiny knife (I’m almost inclined to say they should of gave everyone in the store body armours first). Apparently though, to get the knife you had to listen through this infomercial type of pitch about this deluxe knife kit set and the funny thing is that it looked like a lot of people went ahead and bought it while a lot of others just left without the free knife as it was taking too long.

The main point of interest for myself was seeing these bundled products in the store that displayed how you can get so many of these items for free by simply buying a certain product which is suppose to make it an extremely good bargain. In reality, the main product was extremely over priced compared to other places and the free items could be bought elsewhere for less money. This can be true for other things such as dining at certain restaurants as well when I think about it.

Like a lot of people, in general I have adopted a nothing is truly free mentality when it comes to money and most other things as you are always giving away something for those free items and offers. I personally just use the word “free” as a way to get the point across that there is no immediate up-front cost in terms of your money. As a result, I tend to try and evaluate things more thoroughly to really determine if that free offer is truly worth it. Of course, that’s not to say that all free offers are bad as everything is on a case by case basis. I think the important thing to keep in mind is that knowing how something is free shouldn’t be an automatic confirmation for you to act on something despite how enticing it may be as you need to look at the bigger picture.

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