Making money isn’t easy! Especially if you’re in your early or mid 20s. This is because most of us are probably in our first jobs and still starting out to be financially stable.
But, according to Nona, this young 25-year-old Malaysian girl had managed to own a shop-lot that is worth RM1 million by just selling products made by another company. Who is she?
Chettaki Omey acts as a stockist that sells the branded perfume, De’Xandra, to customers. Just like a retailer!
On 8 August 2015, Lia managed to become De’Xandra’s stockist for their first batch and thus began her journey. One of her very first achievements was when she hit the targeted sales by RM100,000 in four months and since then, her success had skyrocketed. Thanks to that success, she was able to buy a shop-lot that is worth almost a million.
Hence, to inspire other young people, Lia had shared some useful tips with Nona for youngsters to achieve great financial and entrepreneurial success, as well as step-by-step ways for those keen on getting a shop-lot. So, here are the 7 tips she swears by:
1. Register your company
Even though Lia’s company technically dropships another company’s product, she told Nona that she had gotten her company (Chettaki Omey) registered with Suruhanjaya Syarikat Malaysia (SSM). Thus, marking her brand! This is a smart branding move because while selling De’Xandra products, she can also sell her company’s name simultaneously.
2. Have a separate account for your business
According to Lia, it’s dangerous to do a business transaction with a personal account because it could get blocked. Hence, she uses a separate account she had opened just for her business. So, it’s important to have a current account that can be used for your business transactions alone!
3. Save, invest and make sure you have a clean record of your cash flow
Even though the bank would like to see constant outgoing and incoming transactions, Lia urges young entrepreneurs to try and save the revenue they get from their business, even if it’s only RM100.
Besides that, you must also invest! She said you can invest your money at ASB, Tabung Haji, Unit Trust or Emas, where your money will increase with the interest rate. It’s that simple! All we need is discipline and a strong will to not spend the money!
Also, Lia said that if customers pay with cash, make sure you have a record of that transaction. Must have black and white!
“I will usually collect all the money for a week, then bank it in. So, the bank will view that money as income,” said Lia.
So, save, invest and record! The three golden rules.
4. Think before you act and make sure you have strong savings
Lia told Nona that before she bought the shop-lot, she had to do a lot of thinking. The key question she asked herself was whether she was going to rent or buy it.
She shared that in order to build confidence, one should seek insights from a knowledgeable person and then make a decision. Besides that, Lia said that having strong savings is very important to buy a shop-lot, especially if the shop-lot is as expensive as Lia’s shop-lot. She said that when her savings were strong, she also felt extra confident when purchasing the shop-lot.
She suggests saving little by little every month. Sedikit-dikit, lama-lama jadi bukit!
5. Find a trusty real estate agent
Owning a shop-lot is also a form of investment! So, this is why it’s important to get a trustworthy real estate agent because you want to get the best place in the market. Lia advises that one should get a reliable agent, so they can get you a shop-lot that is worth your investment.
6. Do your homework and make sure the shop-lot is closer to home
According to Lia, it’s important to do your homework before buying the shop-lot.
Here are some things you need to do in terms of shop-lot research;
- Find three closest locations
- Survey the area
- Survey the price of the shop-lot
Lia’s pro-tip: Buy the ones that are already renovated.
Other than that, she also advises buying a shop-lot that is closer to home, where the journey only takes about 5 to 10 minutes.
“We wouldn’t want to go back and forth every day, do we?” she said.
The closer to home, the better! Time is money!
7. Set a goal
Although we don’t really fulfill our New Year’s resolutions, according to Lia, it’s still crucial to come up with a goal.
“Have a goal each year, at least your goal should be to own a property for yourself, family and kids. This is because property is a long-term investment and it can also be passed down for generations,” said Lia.
She also shared that when she was in University, she wrote “owning a shop-lot before age 25” as her goal and now, she has one!
“I even made a ‘mood board’ of my dreams and I would pray hard to achieve it,” she shared. Way to go Lia!
However, Lia told Nona that all this wouldn’t have been possible if her family, friends and customers hadn’t supported her. Hence, she is forever grateful to them. She also hopes that her tips will inspire those who are trying to make a difference in their life.
“Let’s all start owning property at a young age,” she urges every youngster.
Well, she’s definitely an inspiration to many youngsters out there and we hope that she will continue to break barriers as she makes her mark in the entrepreneurial world!
Travelling Soon? Here Are 6 Money Saving Tips You NEED to Know to Maximise Your Money’s Worth!
Travelling the world is arguably on most Malaysians’ bucket list. Sadly, not many of us are all that money savvy...
11 Struggles Malaysians Faced When SMS Was the Only Way We Could Talk to Our Friends
From dial-up internet to downloading our music from file-sharing software such as LimeWire, things back then were very much different...
Win FREE Gifts and Stout Just by Participating in Connor’s Challenge This September!
Love a challenge? Who doesn’t?! Well, Connor’s Challenge truck is travelling nationwide to see if you have what it takes (skill,...
Tomb Raiders Broke Coffins and Stole Valuables from Graves in Miri
Watch: Klang Residents Who Didn’t Pay Fees Attack Guards Because They’re Asked To Use ‘Visitor Lane’
“My Wife Can’t Tend To My Needs but a Widow Can,” Says Malaysian Man With 7 Kids
Malaysian Steps on Dog Poop, Gets A Shiny Mewtwo Immediately After!
If You’re Travelling with Your BF or GF to Bali, You Could Be Jailed for Staying Together
USM Pharmacy Prof. Says M’sian Ringgit Notes Might Contain Pork Fat & Is Haram
- Viral1 day ago
“This is not Mars, It’s Earth”, Haze is So Bad That It Turned the Sky RED in Indonesia!
- Viral1 day ago
Don’t Take Food from Strangers at the Airport. Someone Hid Drugs Inside Beef Rendang!
- News2 days ago
Goodbye: S’pore’s Largest Merlion Statue will be Demolished after 20 October 2019
- Culture2 days ago
$11 Million Hollywood Movie On Sarawak Will Star Jonathan Rhys Meyers as Sir James Brooke!
- Malaysia2 days ago
Monsoon Warning: Haze Will Improve But We Will Get Thunderstorms & Flash Floods
- Food17 hours ago
Always Wondered Why Pineapples Hurt Your Tongue When You Eat Them? Here’s The Reason!
- Viral11 hours ago
Beware: Elderly Couple Seen in Klang Valley Scamming People By Saying Their Motorbike Broke Down
- Culture2 days ago
What Is The Job Scope Of A Thai Entertainer? Apparently, There Are 5 Different Types