2010 January Archive at MoneyTree AsiaPac - Developing Tomorrow’s Financial Geniuses

Archive for April, 2010

Rich Money Habit #7: The Rich Spend Less than they Make, the Poor Spend MORE than they Make

Published on January 30, 2010 in Library. 0 Comments

In last month’s issue, we discussed how the Rich Plan their Retirement while the Poor merely HOPE they can Retire. This month, we will be looking at Rich Money Habit #7: The Rich Spend Less than they Make, the Poor Spend MORE than they Make.

There is a reason why the Rich become richer, and the Poor become poorer and get trapped in debt. The Rich become richer because they always spend less than they make. With the surplus they have, the Rich buy Assets. Assets, as you know, are things that put money into your pocket, hence making you richer. The assets the rich buy will generate dividends / interest / profits for them. The dividends / interest / profits generated will be used to buy even more assets, which in turn, would generate EVEN MORE dividends / interest / profits. So, by spending less than they make, the rich would be able to put their money to work hard for them, hence making them even richer!

The Poor on the other hand, become poorer and get trapped in debt because they spend MORE than they make. Most of the money they earned is spent buying liabilities that decrease in value. The more liabilities they buy, the deeper in debt they are. And very soon, they find themselves earning JUST ENOUGH to pay off all the debts they have accumulated. By now, all the hard work will be focused on how to get themselves out of debt. And that’s why the poor become poorer.

If you noticed, from the start, there is only a small difference in the way the rich and the poor treat their money. One spends less than they make, and the other spends more than they make. But the end results are vastly different!

So, kids, if you want to be rich, you need to learn how to Spend less than you make and invest your surplus in assets to enable your money to work hard for you!

In next month’s issue, Rich Money Habit #8: The Rich work at building Wealth, the Poor merely try to survive.

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Highlights from YES Challenge Season 1 - Malaysia

Published on January 29, 2010 in YES CHALLENGE. 0 Comments

Featured in the following papers
1) http://www.sun2surf.com/article.cfm?id=36890
2) http://voize.my/vr1/big-pitch-for-the-big-leagues
3) http://www.theedgemalaysia.com/personal-finance/17428-giving-youngsters-a-taste-of-entrepreneurship-.html
4) http://www.csr-malaysia.org/news/malaysia/-20090626222/

Featured Videos:
1) http://www.youtube.com/user/MoneyTreeSingapore#p/a/u/1/OixAKAS47ZE

2)http://www.youtube.com/user/MoneyTreeSingapore#p/a/u/0/n5eQAam-P5E

Events Photos:
1) http://www.facebook.com/photo.php?pid=3219891&id=598045897
2) YES Challenge Advisors => http://www.facebook.com/album.php?aid=136608&id=598045897&ref=mf
3) 8 August 2009 - YES Challenge - Malaysia: BIG PITCH => http://www.facebook.com/album.php?aid=30689&id=1364231885&ref=mf
4) http://www.facebook.com/photo.php?pid=30539021&id=1022707376

Event Newsletters:
1) MoneyTree YES Challenge Judging Session Newsletter => http://www.facebook.com/album.php?aid=132127&id=598045897&ref=mf

MoneyTree in Brunei:
1) http://www.brudirect.com/index.php/200908064184/Local-News/competitors-learn-importance-of-executive-summary-writing-skills.html
2) http://www.bt.com.bn/en/happenings/2009/08/06/think_big_for_success

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YES Challenge Learning Objectives

Published on January 29, 2010 in YES CHALLENGE. 0 Comments

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YES Challenge Process Flow

Published on January 29, 2010 in YES CHALLENGE. 0 Comments

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Detailed mechanics of the YES Challenge

Published on January 29, 2010 in YES CHALLENGE. 0 Comments

The nature of this challenge is as close as it can get to the real world of Technopreneurship / Entrepreneurship. Technopreneur / Entrepreneur aspirants would be required to not only generate ideas that would attract investors, but to also follow through to make it into a profitable business / venture.

Detailed mechanics of the YES Challenge:

Gather a team of 3 - 4 persons
Attend the MoneyTree Entrepreneur 1-day Fast Track Program
Come up with an idea for a profitable PROJECT, and submit a written proposal for the project
Proposal would then be submitted to a selected panel to determine the viability of their ideas and whether it could eventually be carried out profitably. Panel would also identify the strength and weaknesses of the plan with the intention of knocking the ideas into shape
Projects that can be implemented and completed within 3 – 4 months are preferred
Teams would be given 15 minutes to present their project / ideas, after which, a selected panel consisting judges and potential investors will pose questions to determine whether or not the ideas are concrete
Teams whose projects / business ideas that have been selected will be given an opportunity to solicit funding from investors
All projects which have been selected will be divided into smaller portions / shares to enable more investors to participate at a nominal sum, or at a sum they’re comfortable with (The Maximum amount allowable to be solicited from investors is RM 25,000)
If investors find an idea that interests them, is scalable and is commercially viable, they can decide to invest in that particular project by buying shares in the venture
Each team will be assigned a mentor, who will be responsible for ensuring that the team implements their plans according to their milestone goals
Mentors would also supervise the preparation of monthly progress reports
The panel and mentors would play an advisory role to the teams, focusing on implementation, strategy and profitability
Profits would then be divided according to agreed portions as stipulated in the agreements, after subtracting any declared fees
Upon EXIT, ideas / projects that make profits or is poised to make profits would be flipped over to Phase 2 of the Maybank – MoneyTree YES Challenge where they would be soliciting up to a maximum of RM 75,000 from investors to continue their business idea / project from Phase 1
Ultimately, if the teams’ business idea / project flips over and makes profit during Phase 2, they will then be guided and supported to apply for available Government grants to bring their venture to higher levels

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Maybank – MoneyTree Young Entrepreneur Startup (YES) Challenge

Published on January 29, 2010 in YES CHALLENGE. 0 Comments

Nature of Event:

The Maybank – MoneyTree Young Entrepreneur Startup Challenge is focused on helping future Entrepreneurs launch new ideas that could ultimately be turned into profitable ventures. This challenge would allow young Entrepreneurs / aspiring Entrepreneurs to not only learn skills that would sharpen their Entrepreneurial mindsets, but to also provide them with the opportunity to experience the practical applications of the Entrepreneurial skills they have acquired through the MoneyTree Entrepreneur Fast Track program.

Objective of YES Challenge:

To create a platform in which youths aged 17 – 24 are given the opportunity to:

Acquire the knowledge and skills to start and operate a business
Have a hands on feel as to what it takes to run a business / project
Acquire the ability to generate ideas and evaluate their commercial viability
Focus on creating a profitable enterprise / venture
Experience pitching for funds to finance their enterprise

Target Audience / Requirements and Territorial Focus:

Youths aged 17 – 24 from Klang Valley (1st phase) – Will subsequently be expanded to other parts of the country in the next phase.
Education: Minimum Form 5
Language Proficiency: Fluent in English
Have attended the MoneyTree Entrepreneur 1-day Fast Track Program

Mechanics of Challenge:

Detailed mechanics of the YES Challenge will be released at a later stage:

Participating Parties:

MoneyTree has invited a mix of representatives from Government Agencies, Private Sector and even Private Investors to be part of our panel of Mentors and Advisors. We also have two Government Agencies, five Education Institutions, three Corporations and several Independent Entrepreneurs who have agreed to be Partners with MoneyTree on the YES Challenge.

Grand Prize:

RM 20,000 in Cash and Prizes

Be promoted as the next “Malaysian Entrepreneur Idol” whereby the members of the winning team(s) would be taken on Roadshows to all participating Colleges and Universities to speak to their peers and share their experience in Youth Entrepreneurship and also be featured on Newspapers, Magazines, TV, Radio, Online Magazines and on the Internet.

In short, the members of the winning team(s) WILL be made famous and would have the opportunity to scale their businesses to a higher level.

Registration Fee (per team consisting 3 – 4 persons):

RM 600 (the fee includes a 1-Day MoneyTree Entrepreneur Program, Mentorship, Support and an Opportunity to start your own business)

For more information regarding YES, please contact uV @ +6012 293 5116 or write to him at uvwong@moneytree.my

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MONEYTREE ENTREPRENEURSHIP PROGRAM - KOLEJ PROFESIONAL MARA (KPM) STUDENTS GET A TASTE OF REAL LIFE, PRACTICAL ENTREPRENEURSHIP EXPERIENCE

Published on January 29, 2010 in Press Release. 0 Comments

Petaling Jaya, Dec 14th, 2009 – MoneyTree recently conducted its First-of-its-Kind Entrepreneurship program for 38 “Kolej Profesional MARA” (KPM) Melaka students that was held from December 1st to December 7th at the German Malaysian Institute (GMI) in Bangi.

The training program is a 7-Day Entrepreneurship program that provides the students with an opportunity to experience what Entrepreneurship is, through a specially designed simulation that mimics the market conditions of the real business world. Entrepreneurship lessons are injected throughout the simulation to allow students to learn, and immediately put into practice what they have learnt to grow their respective virtual businesses.

CEO MoneyTree Asia Pacific Ltd, Mr Michael Reyes stated, “The program is specially designed to allow students to not only learn the theoretical part of what Entrepreneurship entails, but to also allow them to translate the knowledge into action through the simulation. The students have to make decisions for their virtual businesses during the simulation, and these decisions are dependent on market conditions determined by the simulation. Business loans, Marketing, Research & Development and Advertising are some of the key areas students would have to pay attention to during the simulation to ensure their enterprises generate revenue and profits.”

Besides participating in the simulation, KPM Melaka students were also required to set up small businesses at flea markets for 2 days during the program to obtain real life, practical experience in setting up businesses and in running the businesses they set up.

MoneyTree Director of Special Initiatives, Mr UV Wong stated, “We wanted to make the program a wholesome program where students would also experience Entrepreneurship through practical sessions which would hone their communications skills, sales and marketing skills, help them overcome the fear of rejection, and obtain hands-on experience in the setting up of a business. Hence, the idea of having the students set up real businesses, selling real products to real customers, and dealing with real money was introduced. We wanted to train them to look at revenue, profit margins, marketing strategies, and teamwork in the process of starting their small enterprises.”

Muhamad Zuri Iskandar, one of the students from KPM Melaka said, “I hope this program will continue to be taught in other Universities / Colleges as it helps us understand the challenges faced by Entrepreneurs in the business world. This program definitely provided us with the knowledge and practical experience to face those challenges in the future.”

For further information regarding the MoneyTree Entrepreneur Program, please write to uV at uvwong@moneytree.my.

About the MONEYTREE™ Entrepreneurship Programme:

The MONEYTREE™ Entrepreneur Program is a unique program designed to educate and create business savvy Entrepreneurs through a unique and specially designed Entrepreneurship Simulation which provides hand-on practical experience in Entrepreneurship.

FOR IMMEDIATE RELEASE
Contact: uV Wong
Handphone: +6012 293 5116
Email: uvwong@moneytree.my

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MoneyTree in Indonesia

Published on January 12, 2010 in Update. 0 Comments

MoneyTree taking the first step into Indonesia. We had our first education exhibition in Jakarta on 20 to 22 November 2009. A series of workshops and fast track camps will be conducted from January 2010.

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About

MoneyTree Road Map

MoneyTree offers 6 different levels of workshop, Basic, Junior 1 , Junior 2, Apprentice 1, Apprentice 2 & Entrepreneur. Each level is focused on different aspects of Financial Management. […]

Our Programmes

The MoneyTree programme is divided into several products: Face to Face Camps, E-Learning Courses, Portal, Young Entrepreneurs’ Start Up programme (Y.E.S.)

The Principle & The Story Behind

We aim to prepare kids and adults for a challenging financial future - where loans and credit cards are easily available, and being in debt for a good part of life is an accepted norm. We plan to achieve this through the use of face to face sessions, simulations, an online follow up programme and e-learning courses - to ensure that the principles taught are understood & practiced.