As of now
1) MR lor ! Finally finished my 10 cycle, so it means no more struggling for my 2.4 km IPPT, which I feel is really taking a toll on my aging body.
2) InXX ½ Done. Finalised SP agreement for InXX, to be completed in 6 months (May to Oct). It is really taking too much of my time. There in the morning, evening. Now I am trying not to go back during weekends.
3) Finally after finding all the documents to explain the disposal of Assets& Liabilities, the officer processed the SO (by 5 months). Yeah !
4)PV ½ Done. I manage to get into PV with some help from my . Will do 1 year reading for young children which I feel is a very good thing to do
Left to sell the house, and complete the S&P by end October (3 more months – still need to get a secretary/maybe moving), and complete the PV by next year (starting 29th July).
Also settled getting our new maid as our current maid wanted to leave. She was a very great help during these 2 years and we could depend on her to take care of the little one, and also cook for both families at the same time. We wanted her to stay another year but her husband wanted her to go back and her mum wanted her to go back (as she felt her husband she work not her). We tried to increase her pay to 470, but to no avail.
Also my car aircon is spoilt. When we went for check up at Mazda center, they discovered that the alternator is spoilt as well (the battery light was on). They tried to charge 1900- 1300 (after discount). So I went to Sin Hwee Motor (they charge me 660, and change my aircon pipe 65).
Thursday, August 4, 2011
Monday, August 1, 2011
Should I take over my Dad business and next step
Aug 2011
I have been delibrating whether I should take over my Dad's business. I am really stretched to the max to the extend I am thinking of whether to stop my own job. Anyway this is what I have considered
- My Dad's business annual turnover has deterioated from 1 Mio in 2007 to 600-700k last 2 years. My Uncle told me this and I agree with him, unless turnover is 3 Mio and above, there is a big opportunity cost to do so
- I don't have the strong domain knowledge of my dad's business (Precision engineering - carbide blanks/rods/diamond wheels)
- I can ease into Sales & Marketing, but my strength's s in business analsing and with the investment I have, I should concentrate my time & efforts on this
I have decided to continue with my present job & extra time for share investment and to find a potential buyer for my Dad's business (won't be easy).
And I have to do it fast. Why ? There are too many risks (for eg. my dad surbordinate to hankie pankie with the inventory / risk that my dad surbirdinate leave => after which the value of the company is almost zero as he is the one doing the operations of the job now/ surbordinate jump ship/ unmotivated), and monthly business may drop.
What's next : Super busy again
Dad's business
- power of attorney
- getting ready executive summary (need to get investment merits)
- look for investors
- continue to chase for payment; The last 2.5 months, I have managed to reduce accounts outstanding by 20+%. (did not expect that either) that from 390K to 304K. (about 12 K was errenous accounting - already paid like SuperU/HH). And I hope to reduce this by another 30K at least. 270K
- his dormant business have to get it settled wtih another shareholder, otherwise will be paying 2K+ for audit etc yearly ($$ wasted)
- Invoice paper
My property
- choose lightings
- choose curtains
- miscellaneous (confirming with designer + hanger)
Others
- get payment for mortage introducing fee
- help my mum/sis with reno + hospital bed/wheelchair etc/ medical checkup etc
I have been delibrating whether I should take over my Dad's business. I am really stretched to the max to the extend I am thinking of whether to stop my own job. Anyway this is what I have considered
- My Dad's business annual turnover has deterioated from 1 Mio in 2007 to 600-700k last 2 years. My Uncle told me this and I agree with him, unless turnover is 3 Mio and above, there is a big opportunity cost to do so
- I don't have the strong domain knowledge of my dad's business (Precision engineering - carbide blanks/rods/diamond wheels)
- I can ease into Sales & Marketing, but my strength's s in business analsing and with the investment I have, I should concentrate my time & efforts on this
I have decided to continue with my present job & extra time for share investment and to find a potential buyer for my Dad's business (won't be easy).
And I have to do it fast. Why ? There are too many risks (for eg. my dad surbordinate to hankie pankie with the inventory / risk that my dad surbirdinate leave => after which the value of the company is almost zero as he is the one doing the operations of the job now/ surbordinate jump ship/ unmotivated), and monthly business may drop.
What's next : Super busy again
Dad's business
- power of attorney
- getting ready executive summary (need to get investment merits)
- look for investors
- continue to chase for payment; The last 2.5 months, I have managed to reduce accounts outstanding by 20+%. (did not expect that either) that from 390K to 304K. (about 12 K was errenous accounting - already paid like SuperU/HH). And I hope to reduce this by another 30K at least. 270K
- his dormant business have to get it settled wtih another shareholder, otherwise will be paying 2K+ for audit etc yearly ($$ wasted)
- Invoice paper
My property
- choose lightings
- choose curtains
- miscellaneous (confirming with designer + hanger)
Others
- get payment for mortage introducing fee
- help my mum/sis with reno + hospital bed/wheelchair etc/ medical checkup etc
Subscribe to:
Posts (Atom)
