Money Brick

Work Hard, Not Smart

noreply@blogger.com (Shawn @SIDONIEYANG) — Sat, 24 Dec 2011 16:46:00 +0000

First, there was the saying, "Hard work pays off." Then, there was the new saying, "Work smart, not hard." Later, when the Internet came along, Internet money guru bloggers started explaining the latter term like this:

"Work smart, because like, if you want to cut down a tree, you'd use a chainsaw. It wouldn't take much time and you'd be pretty relaxed afterward. But, if you used a hammer to cut down a tree, it would take a hell of a long time, but hey, you'd be working hard. Therefore, working hard is stupid. Work smart."

Okay buddy, thanks for oversimplifying things. Firstly, if one had a chainsaw, only the lazy man (who is doing his utmost to avoid hard work) would cut down only one tree in ten minutes and call it a day. The hard worker on the other hand, would continue for the rest of the day, being super-productive and actually working hard. The lazy man would do the minimum possible, with the minimum possible effort. The hard-working man would do as much as possible, but spread his effort out, so that he is able to achieve as much as he wants to achieve (still, minimum effort per article of work, but spread out to do as many articles of work as possible).

Anyway, today's post is about hard work. Yes, I believe that hard work is a requirement for success in our future-oriented society. You must work hard today for a better tomorrow.

However, saying that you must work hard is a rude oversimplification. I advocate some types of hard work, and would tell you to avoid other types of hard work. That said, there are two types of hard work: painful hard work, and tiring hard work.

I advocate doing tiring hard work... but do not advocate doing painful hard work.

If your work is painful, you're going to hate it, you may not put in as much effort as you could, and you'll hate your life. You won't even enjoy the fruits of that labour, because it's so damn painful.

If your work is tiring, you may not hate it, you will still put in as much effort as you can, and you'll still love your life. You'll definitely enjoy the fruits of your labour now, because once it's over, you can rest for a bit, and happily continue your tiring hard work another day.

Building a business, for example, is mostly tiring hard work, and very little painful hard work. Sure, there will be a few painful times, but it'll mostly be tiring.

Are You an Entrepreneur or a Wantrepreneur?

noreply@blogger.com (Shawn @SIDONIEYANG) — Thu, 27 Oct 2011 03:37:00 +0000

If you're an avid reader of get-rich-quick books, or any other business motivational books, you probably think that you're an entrepreneur. Or, at the very least, you're trying your darnedest to become an entrepreneur!

That has been the case with myself for the past two decades... Western society pounds it into your head that you should be different, be unique, be an entrepreneur, be your own boss. Answer to nobody! Wake up at whatever time you want, they tell you. In a nutshell, those are all false promises made in order to sell motivational books.

In another nutshell, being an entrepreneur or business owner probably takes twice- or three-times as much work as it does to be an employee. And, you could either fail in the end, or you could wait a decade before it all pays off. That's right, a decade (or two) of 80-hour workweeks.

Stop thinking about the exceptions to the rule; such as some Internet blogger who made millions in less than a year - they're the exception! As soon as you get it into your head that you're not the exception, well, you can start to make real progress.

Anyway, back to talking about myself. I thought I was an entrepreneur for the longest time... I would read descriptions about entrepreneurs and think, "That's me!" Or, I would mold my actions to fit the ideal of an entrepreneur. I even tried many businesses in the past, with varying degrees of success. I gave up on all of them eventually, though... So, my thinking lately has been that maybe I'm fooling myself. Maybe I'm not really an entrepreneur. Possibly, I just like the idea of being an entrepreneur, so I've acquired a lot of the traits over the years... but deep down, am I?

They say entrepreneurs are born, not made. I totally agree. It takes a certain type of person to be a real entrepreneur. An entrepreneur is someone who will get a brilliant business idea during a dream, wake up to write down all the details, and possibly even create a website or business plan (and not go back to sleep). An entrepreneur is someone who will mortgage their house, borrow money from family and friends, and ruin their credit in order to support some wacky idea they have - they will go "all in" financially and will not care if they end up in deep debt. An entrepreneur will work tirelessly on a business idea; they will eat, sleep, and dream their business, until it becomes a real success.

And once the entrepreneur is successful, he or she will start all over again with another business idea. It doesn't matter if they've already made millions or billions, they're not in it for the money. They're in it to give birth to their ideas and create something. And if the entrepreneur fails, he or she will get back up and keep trying.

This is in stark contrast to the normal person... who... wants to get into business because; they want to get rich, they want to sleep in everyday, they want lots of leisure time, they don't want to take orders from anybody, they hate their job, they think it's a good idea, it's what everybody else is doing, they're trying to imitate somebody else's success, etc... and sometimes, yes, the normal person does succeed in his or her entrepreneurial endeavours. But, what does a normal person who succeeds in entrepreneurship do?

He or she sits back and relaxes... and enjoys the money. Never to venture forth again.

What if this normal person fails? Well, he or she will get scared and go back to working a normal job, never to try their hand at entrepreneurship ever again.

Personally, I still like the idea of being an entrepreneur, and I think I will continue to try to be a successful one. The biggest ingredient I am missing is the entrepreneurial ability to stick with things and see them through for years and years and years and years...

Scholar, Farmer, Artisan, Merchant

noreply@blogger.com (Shawn @SIDONIEYANG) — Sun, 02 Jan 2011 19:03:00 +0000

In traditional Chinese culture, there were four classes of people on the hierarchy. At the top were scholars, followed by farmers, then artisans, and finally merchants.

In modern Western society, however, it seems that money is what matters, and therefore merchants are at the top. It seems as if Western society's hierarchy of classes is an exact mirror-image of what Chinese society's is!

The nice thing about Chinese, and other Asian societies, is that they respect teachers. Teachers honestly don't have an easy job, and they get dissed all the time in Western society. Without teachers, every and any society would crumble. A teacher can be anyone, but we are talking about professional teachers... those who engage in spreading knowledge full-time, and do it for those that they don't necessarily have emotions for. I guess you did notice that "scholar," is the same as, "teacher."

What I want to say is to respect your children's teachers... and don't think your kid is a perfect angel. You don't know what they're up to at school... or maybe you do, because you're a helicopter parent. But, if you can't place your trust in an honestly good teacher, you should consider homeschooling your children.

I think I had more to say about this class hierarchy, but I'll do it again when I think of what it was I wanted to say.

Quantity vs. Quality

noreply@blogger.com (Shawn @SIDONIEYANG) — Sun, 02 Jan 2011 18:54:00 +0000

I've noticed over time that most people tend to go for quantity over quality. Why is that? I guess it's just human nature to want to get as much as possible. After all, you work for your money, so you may as well try to get as much stuff as you can! (A consumption-based society is another problem, too, but I'll save that for another post.)

So... back to quantity versus quality. For me, I'd much rather take quality any day of the week. Imagine a restaurant for example. You can either go for the buffet for $9.99 or just get a nice meal for the same price. I bet you a lot of people would take the buffet... but when you get there, the food is half as good and you eat so much that you barf later. The nice meal, however, is stupendously delicious and you're not over-stuffed. Quality wins.

How about a house? Would you rather get a 3,000 sq. ft. house for $500,000, or a 2,500 sq. ft. house? The 3,000 one, of course, right? Well, all other things being equal, it follows that either the smaller house is in a much better location, or is built better (both quality issues). They may look the same initially, but after a few years, you'll notice a huge difference in construction practices. In reality, actually, you end up paying more for the larger house, because of the crappy construction quality and the need to constantly maintain it. Quality wins, you lose.

(This reminds me of something related to my post two previous... instead of asking the stupid question, "Why is your house more expensive," you should be asking, "What features do you have that the other cheap-ass house does not?")

Another example is probably those knick-knacky things you need for your daily life. Let's say you always buy a cheap handbag. What ends up happening is that you're constantly having to replace that handbag, thus getting a larger quantity of cheap handbags for the same price as that high-quality handbag you didn't buy. You also don't get to enjoy the superior quality of a nice handbag. You lose, quality wins.

Buying something cheap instead of something good is also choosing quantity over quality, although you are not necessarily buying more, you are certainly giving yourself the ability to get more for the same dollar cost.

Quantity or quality is your choice, but you read what I just wrote.

Canada: Temporary Resident Visa vs. Temporary Resident Permit

noreply@blogger.com (Shawn @SIDONIEYANG) — Wed, 29 Dec 2010 08:25:00 +0000

I want to clarify a very confusing term regarding Canadian immigration:

Temporary Resident Visa (TRV) = Visitor's Visa

Temporary Resident Permit (TRP) = Something not to do with visiting as a tourist, but to do with humanitarian reasons, etc.

It's really confusing... because for both terms, the first two words are the same. However, the third word is the key to telling the difference.

Temporary Resident Visa vs. Temporary Resident Permit

Learn to Ask the Right Questions

noreply@blogger.com (Shawn @SIDONIEYANG) — Thu, 23 Dec 2010 19:36:00 +0000

Wherever you go, whatever you do, if you ask the wrong questions, you'll get the wrong answers.

Sure, maybe 5 percent of the time, you'll meet someone who gives you the information you were actually after - even though you asked the wrong question... but 95 percent of the time, you lose.

Don't be a douchebag: think about what you want before opening your mouth to ask infinitely stupid questions!

For example, if you want to know what time a specific train arrives at its destination; you don't waste people's time by asking the two separate questions of: what time does the train leave and how long does the trip take?

Learn to ask the right questions!

The Imgur Gallery

noreply@blogger.com (Shawn @SIDONIEYANG) — Sun, 12 Dec 2010 17:26:00 +0000

The Imgur Gallery

If You Don't Understand Red Tape, You Fail

noreply@blogger.com (Shawn @SIDONIEYANG) — Sun, 17 Oct 2010 16:19:00 +0000

As I've gotten older, I've come to realize that success in the society we live in has a lot to do with red tape. Not only with financial success... but even social success (although, with social red tape, you don't fill out forms...).

Even in this day and age, and even with educated people... they just sometimes don't understand how red tape works. They don't appreciate the complexities involved, and the reasons for those complexities.

For example, if you walk into McDonald's and order a burger, you may think to yourself, "I could open my own restaurant. It's so easy to make burgers."

Yeah, sure... but did you think about; business permits, health ministry permits, premises leasing, taxes, licensing, workplace safety rules, labour laws, supply-chain management, technology usage and acquisition, staff training, staff benefits, etc.? I'm guessing the answer is, no.

Don't Listen to Internets Guru

noreply@blogger.com (Shawn @SIDONIEYANG) — Sun, 10 Oct 2010 02:58:00 +0000

Have you ever encountered talk from various people (on the Internets or not) about "how to get rich online," or "work four hours a week," or "you can change the world easily," or "ten easy steps to world domination," etc.?

Just to let you know, all these "authors" are saying the same bullshit as those that came before, and are stealing your money.

Whatever you do, don't buy into their garbage promises and don't give them a cent!

There are the traditional "gurus," such as Robert Kiyosaki (a.k.a. Rich Dad), and that other guy who wrote a book called, "How Come That Idiot's Rich and I'm Not?" I've talked enough about them... but right now, I want to talk about the new breed of Internets Gurus. The major difference between traditional money gurus and Internets Gurus is that Internets Gurus always, always, always use the World Wide Web (not even the wider Internet) as their basis for you to get rich, achieve freedom, etc. Moreover, they always say that it's up to YOU... and they furthermore always say that they are not gurus. Oh, and they make it seem like they're not earning your money, either!

P.S. They also have a lot of fans on their blogs that look up to them and praise them just like pre-pubescent girls look up to and praise Justin Bieber.

Does this list of what they always say sound familiar?

1. YOU can make money off the Internet. ANYONE can. YOU CAN.

2. On the Internet, you only have to work minimal hours. Throw your job away!

3. Only suckers work a regular job... and you're NOT a sucker. Do what I say.

4. Have the bravery to do what others don't do. Don't be like everyone else.

5. Ten easy steps. Five easy steps. ONE EASY STEP.

Their list of garbage promises goes on and on.

If you think they've got it right and the majority of people are suckers... then let me ask you this...

When your FUCKING HOUSE IS ON FIRE... is the Internet Guru going to come and save you?!

When YOU ARE FUCKING INVOLVED IN A CAR CRASH... is the Internet Guru going to whisk you away to the hospital and look after you, 24/7 for the next week until you recover? Are they going to save YOUR FUCKING LIFE?

When you are hungry... is the Internet Guru going to prepare a meal for you or grow some crops and harvest them for you to eat?!

When you need to take a vacation... is that fucker going to build the airplane and fly it for you?

There are so many examples that I can think of... imagine if everyone in the world followed an Internet Guru's advice?! IMAGINE!!! They stopped doing what they were doing and tried to be a leach on society and make money off the Internet?! Who would've made the Internet in the first place? Them?!?! I think not.

How to be a Customer

noreply@blogger.com (Shawn @SIDONIEYANG) — Sat, 02 Oct 2010 16:09:00 +0000

There's an old Chinese saying that says one must learn how to be a person.

What does that mean? It means that even though, technically, you are born a person - you must take it upon yourself to learn how to truly be a person. I guess you could say the onus is on you to learn how to be humane.

I'm not going to write about all the aspects of learning how to be a person on this blog... that could actually take a lifetime. Plus, many great people throughout history have already done so.

What I'm going to do is to write about how to be a customer!

Interesting, isn't it? When it comes to business (and yes, you should care about business, because if you don't eventually have financial freedom in this Western society - what other kind of freedom is there that you don't already enjoy?), everyone has always been focused on how to be an organization, how to serve the public, how to be a good servant...

Yeah, that's great and all. It's great if an organization can make the customers feel good and want to come back; thus equaling profits. If you work there and offer excellent service, well, that's good for you because not only will you be recognized, but you are developing your professional skills.

But what about when you are on the other side of the equation? Do you act like an asshole and a demanding motherfucker?

Haha... normally, people who are pretty good when they work are also pretty good when they are customers. So, I'm not really talking to you - I'm talking to the spoiled assholes who think that everyone is there for their benefit.

Maybe I shouldn't be telling those assholes anything! Let them continue to be assholes. After all, their lives are significantly more difficult to get through than a nice person's. Significantly.

Or maybe it's for the benefit of the entire society if all the assholes knew that their asshole ways don't only impact the receivers of their shit, but also affect themselves in an extremely negative way. Okay, so I guess it would be better if all of society had no assholes... so I'll let the secret out.

If you are a pleasant customer, you will receive better customer service.

That's it, that's the secret. People who are nice to all whom they meet (and smile), including those that are there to serve you, or to those that are supposedly in lower positions... receive many things; better customer service, more intangible benefits, make people happy, and occasionally (quite often, actually), free stuff and exceptions to rules! Don't you want all that? I sure do.

You may be thinking right now that yelling like a bitch and having a temper-tantrum gets you what you want. Sure, it gets people to give you what you want in order to shut you up - but you can't be sure the stewardess didn't pick their nose and stir your drink with it (or maybe, that's something you can be sure of! Sucker.).

Let's look at the opposite and think of what happens when you know how to be a customer... know how to be a person.

The wife and I went to an Italian restaurant for dinner, on her first day in Canada. There was a lone waiter, and the restaurant was absolutely packed! We waited patiently for him, and when he finally did come, we ordered and I said to him, "Wow, you're working really hard today. How come you're the only waiter tonight?"

He then told us that the two other scheduled waiters had called in sick, and nobody else could come in... I told him to take his time and not worry about us, because we had lots of time.

What happened with that? Well, he actually served us faster than everybody else, was all smiles when he came by, and we even chatted it up a bit! Of course, I gave him a fat tip. At the end, he said, "You guys are great. You're so understanding. Thanks for making my night a much better one."

Look at all those tangible and intangible benefits!

Yeah, it's easy to be nice to a customer-service person who isn't a bitch to begin with... but what if you meet a customer-service person who is having a bad day?

I'll cover that in my next post, because I have to go right now!

Growth is Good? Think Again.

noreply@blogger.com (Shawn @SIDONIEYANG) — Tue, 21 Sep 2010 06:23:00 +0000

Over the past couple days, I've been hearing, talking and reading about how our capitalistic society is a growth-based economy... and how that isn't necessarily a good thing.

Read this short article first - he says it well.

Now think about all the weirdness having a "must grow" mindset causes to people in our society when it comes to economics.

Company ABC didn't beat analyst expectations for profit this quarter... stock price plunges. But wait... they still made a profit; just not as much was predicted. What the hell?

China's growth is slowing this year... from 12% to 9%... bad news. Bad news! But wait... technically, they are still growing faster than ever, because although the percentage is smaller this year, the absolute value is more because their economy is bigger this year than last.

Lots of examples of focusing on growth are out there. Do you have any to share?

By the way... this is a bad thing. We need to live in balance with the Earth, and can't grown on forever.

Bubbles Are Good

noreply@blogger.com (Shawn @SIDONIEYANG) — Sun, 25 Jul 2010 15:56:00 +0000

There's been a lot of talk about bubbles in real estate markets lately; namely in Canada, China, Australia and probably some other places that I haven't read or heard about.

That got me thinking, though, as I've lived through a couple bubbles myself. And yes, I did lose my pants on one of those bubbles. Or maybe it was someone else's pants, because the majority wasn't my own money?

But... bubbles are good, are they not? Sure, large swaths of people lose their money... hell, practically every bubble-time investor loses his or her money. A lot of people who were too enthusiastic even get wiped out completely, never to re-emerge from their financial quagmire ever again.

Still, bubbles are good because they build a lot of needed infrastructure.

What happened during Railway Mania of the 1840's in Britain?

You guessed it. People were investing like crazy in railways... a lot of railway infrastructure was being built... and then... BAM! Everyone lost all their money. But, what good happened? Well, a lot of needed infrastructure was built.

How about the Dot-Com Bubble? Same thing! We got massive expanded Internet infrastructure from that. Thank-you foolish investors.

Those are just two examples of how bubbles contribute to expanded infrastructure, which is a good thing. They steal money from investors, and give a good back to society. As long as you don't invest in a bubble, you benefit.

Here's a chronological list of bubbles off the top of my head, that you can take your time and peruse (and think of, the next time everyone is telling you to invest in this, invest in this!):

(Year of crash) Bubble Name

(1637) Tulip Mania

(1720) South Sea Bubble

(1846) Railway Mania

(1929) Roaring Twenties

(1991) Japanese Asset Price Bubble

(2000) Dot-Com Bubble

(2005) United States Housing Bubble

(2007) Uranium Bubble... WTF?! Uranium?!

(throughout history) Gold Rush

History is so interesting, isn't it?

Parental Failure

noreply@blogger.com (Shawn @SIDONIEYANG) — Wed, 23 Jun 2010 16:17:00 +0000

A great man once said (and his son tweeted), "A parent's only as good as their dumbest kid. If one wins a Nobel Prize but the other gets robbed by a hooker, you failed." (found here: http://twitter.com/shitmydadsays)

Okay, so basically, I totally agree. Why? Because a lot of parents don't contribute much to their children's success. Some do, many do not. And why are you here reading this blog? For financial success, right? You don't have to become a gazillionaire to be considered financially successful, but you have to be able to take care of your loved ones.

That said, teaching your kids to be successful is an important part of parenting. Sure, lazy and aloof parents do sometimes end up with hugely successful children... but those are the special people among us (*ahem*, that's not most people). Proper and balanced guidance is what makes a good parent and it's those kids that end up really well-off, for the most part.

As a parent, you need to properly guide them: if you want them to be better than you, don't teach them what you think you know. Find them suitable role models and/or some type of educational aspirational leader. You also need to be balanced: don't be all up in their business, watching everything they do... don't be a helicopter parent (and as said before, don't be aloof).

Let's give you some solid examples:

Little Jamie: Daddy, I want to become a lawyer.
Daddy: No need honey, you'll find a rich husband!
FAIL

Little Jamie: Daddy, I want to become a lawyer.
Daddy: That's good, dear. Good luck.
FAIL

Little Jamie: Daddy, I want to become a lawyer.
Daddy: Okay, you go find out how, and I'll pay for your education.
(Uhh... hello, most kids will never go find out how.)
FAIL

Little Jamie: Daddy, I want to become a lawyer.
Daddy: Well, there are different types of lawyers, what kind do you want to be?
Little Jamie: What? I thought there was only one type. Like on TV.
Daddy: The ones you see on TV, dear, are criminal lawyers. They either defend (help), or prosecute (try to put in jail) bad guys. But also, there are real estate lawyers... family lawyers... corporate lawyers... etc.
(After explaining extensively the types of lawyers out there and what they do...)
Little Jamie: Oh, I think family law sounds good. I want to help mommies.
Daddy: That's great! So, you're in grade 8 now... that means in high school you'll have to... and in university, you'll have to...
WIN

As you can see, regardless of the intelligence or ambition of your child, ALL children benefit from the last scenario.

How Much Would You Rather Make?

noreply@blogger.com (Shawn @SIDONIEYANG) — Sun, 20 Jun 2010 19:42:00 +0000

Which scenario would you rather have (all else being equal)?

A) All your friends and relatives made $70,000/year, and you made $80,000.

B) All your friends and relatives made $100,000, and you made $90,000.

Really, which situation would you rather have? Surprisingly (or not), most people said that they'd rather have option A. That does not make logical sense. It does, however, make emotional sense.

You wanna be better than everyone else, don't you? You want to be higher on the pecking order, don't you? You wanna feel good about yourself!

As for me, I'd take option B, not because I have no emotion... but because I know that most people would just waste their money buying useless crap (I used to do that). And I'd save... so eventually, I would be much richer than them! Suckers!!!

As an aside, in some cultures (I'm talking Chinese right now), the husband absolutely has to make more money than the wife. Couples have broken up, engagements have been called off, marriages have failed because the wife made more money than the husband. I kid you not.

Because of a Chinese man's ego, he has to make more than his wife and his friends/relatives. But, he especially has to make more than his wife. I did an informal survey at a class I taught in Taiwan, and every single one of the males said they'd rather make $60,000 NT a month, with the wife making $40,000... as opposed to them making $100,000 and the wife making $120,000. That is CRAZY! They'd rather cut their total household income in half, just because they want to make more than their wife. Shoot... I'd rather just let my wife work, and I'd find some way to breastfeed the kids myself.

Nothing is Really Yours

noreply@blogger.com (Shawn @SIDONIEYANG) — Sun, 20 Jun 2010 19:29:00 +0000

It's true. Nothing is really yours. Sometimes, not even your own body is yours (in the case of prisoners being taken or wars being fought). But let's talk about a stable society; what is really yours?

Let me qualify the definition of "yours." Something that is yours must be yours forever, and should be able to be yours, regardless of your situation.

Therefore, food can actually be yours, because once you've eaten it, it's gone and you used it up. So, I guess things that are used up are yours; such as food, shampoo, water, etc. And maybe small things, too? Like, if you buy a hand-held video game system... it's small and you can keep it and no one can take it away from you by legal means. And if you went broke, well, you could still keep it.

But, what is not yours? Well... people think that a house is theirs. But hell, it's not! Firstly, the vast majority of people borrow money to buy their house. So, if you don't make those mortgage payments, guess what? It's no longer yours. Secondly, even if someone gave you a house, but you had no job... I'm pretty sure that you wouldn't be able to keep it as yours. You wouldn't be able to pay the land tax! And that's not even including the costs for you to have water, electricity, etc.

And with a car... you can imagine why it's not yours, either; gas, maintenance, insurance, etc.

Invest In Yourself

noreply@blogger.com (Shawn @SIDONIEYANG) — Tue, 15 Jun 2010 16:19:00 +0000

I once read a book called, "The Ultimate Cheapskate's Road to Riches," or a title of that nature, and he posited that we spend too much time thinking about how to make our money work for us, when in fact, most of us would earn the vast majority of our money through our labour. That got me thinking, obviously.

Think about it... all these people are selling you books, advice, newspaper articles, tapes, etc. to try to tell you how to make money with your money. But, how the hell are they making money? Through their labour! They're frickin' tricking you! You heard it here first.

So, I say that you should invest in yourself. School, learning and training really are investments in yourself. Don't let anyone say that further education is a waste of time (their breath is a waste of time).

Think about it this way; you can get maybe $50,000 a year gross... after federal and provincial income tax in Canada, you'll be getting around $40,000 per year. Let's say you're an amazing saver and you save a waaay above-average amount of 25%. That's $10,000 per year that you can get to work for you. Now let's say you get an above-average return of 10% per year... that's $1,000 profit in the first year. Then, $1,100 in the second year. $1,210 in the third year. $1,331 in the fourth year and finally, $1,464 in the fifth year.

So, whoop-de-doo... you get a total of $6,105 over five years, for a total return of 61% on your money from that first year of saving. It sounds like a large percentage (which it is, and I would say nearly impossible in today's economic climate), but in absolute terms, $6,105 over five years is slim pickings.

Let's look at investing in yourself now. Regardless of what job you do or what industry you're in, there's always ways to upgrade yourself, making you more valuable, and thus you being able to earn more. If you got yourself a recognized certificate in your industry from the local college... it would cost you maybe $2,500 and maybe a couple hours, three nights a week, for six months. After you get the certificate, you can probably command 15% higher wages... which equals $57,500 per year now. That's take-home pay of approximately $46,000 per year... $6,000 more than what you previously would've taken home.

Look at that! 240% ROI (return on investment) vs. 161%. And you'll get this extra amount every single year after that, and you don't even need to scrimp and save to get it!

Sure, it seems like investing in yourself takes more work, because you have to study and stuff... but watching your "investments" all day isn't my idea of fun.

Passing on Your Business to Your Children

noreply@blogger.com (Shawn @SIDONIEYANG) — Wed, 02 Jun 2010 16:57:00 +0000

As a somewhat-continuation to my previous post, let me now discuss why the kids of the founders (or the grandkids of the founders) of a particular company can keep running the business from the helm. How is it that those kids take over from their parents, and the business continues to do fantastically?

We all know the outcome of businesses that are passed on to inept heirs... so let's not discuss that here.

So, for family companies that are passed onto children (Legacies)... we know how they got to the top, but... how do they manage to do a good job? Think Ford, Magna, Loblaws, etc.

Well, the answer is that the children grew up in that particular business environment. Firstly, they were constantly exposed to the inner goings-on of the business at home. Their parents would constantly be discussing the business at home... and the kids were right there to listen. What do your kids hear you discussing at home? Buying the latest electronics? Gossip about friends? Crappy investments, at best! Legacies are already one-up on your kids by the time they're entering high school.

Then, in high school, kids inevitably get part-time jobs to pay for stuff that they want; gPhones, auto-carriages, dinners, movies, etc. Legacies go and work at their parents' companies. Sure, their job is menial for now, but they're in the environment that they'll soon be at the helm of. Not only that, but they get to know things that not any plain old employee would get to know. Furthermore, their parents expect highly of them and demand highly of them and are watching them (and guiding them). What do your kids do for a part-time job? Well... McDonald's... Wendy's... Shopper's Drug Mart...

In addition to that, the business-owner-parents teach their kids to think like owners. You probably teach your kids to think like workers.

Lastly, those Legacy kids will just get higher and higher positions as time goes on. Higher position means more responsibility equals greater learning.

That's three-up for Legacies, zero for regular kids.

Your Boss, Your Previous Boss' Son?

noreply@blogger.com (Shawn @SIDONIEYANG) — Wed, 02 Jun 2010 16:53:00 +0000

Isn't it sad when you've worked for a company for 20-odd years and one day you realize that your boss is now the son of your former boss? The owner of the company you work for has now passed it on to his children... and all-of-a-sudden this kid's on top and you're somewhere in the middle, or worse yet, on the bottom? That really blows.

It's even worse when this kid treats you like any other worker, and you were the one showing him around the office when he was still in high school! Bastard!

Anyway, that's just another reason for you to be more ambitious. Don't make it your goal to work at one place for the rest of your life... take those skills and make something for yourself.

Being a Successful Employee

noreply@blogger.com (Shawn @SIDONIEYANG) — Sun, 09 May 2010 15:10:00 +0000

I have said in the past that working for someone else sucks, but let's face it; everyone has to do it, regardless of whether it's for a complete stranger or for your dad.

That said, working for someone else doesn't have to suck; and some people really would prefer to do that until the day they retire. But if you want to eventually strike out on your own - take advantage of working for someone else! That's right, take advantage.

"If you're doing a job you don't like, there are two ways out: The first way is to whine everyday and do as little as you can to get by and you will in no time be shown the door; the second way is to do more than you're paid for and take it as a learning experience and in no time you'll be given the opportunity to advance." It was Napoleon Hill who said this, and I agree heartily.

So yeah, when working for someone else, think of it as being paid to attend school. You're getting paid by your employer, you're learning the ins-and-outs of his business, and as long as you keep your ultimate goal in mind, you'll reach it.

It's relatively risk-free to work for someone else for a couple years; mistakes will be made and you'll learn from them, but at no cost to you!

So go ahead, work for someone in the industry that you want to make your fortune in.

Let Starbucks Do Your Homework

noreply@blogger.com (Shawn @SIDONIEYANG) — Mon, 03 May 2010 04:06:00 +0000

I read this great article about Starbucks and real estate just now: http://www.torontorealtyblog.com/2010/04/29/the-starbucks-effect/

Becoming Desperate is a Sure Way to Lose

noreply@blogger.com (Shawn @SIDONIEYANG) — Sat, 01 May 2010 17:01:00 +0000

We've all experienced times when we have been absolutely desperate for money. And some of us out there have been more desperate than others. And what happens when someone becomes desperate? They make stupid decisions and actually end up losing more money.

Think of it. When you're desperate, you'll try anything to get some money. Maybe you are in huge debt and need a bailout... so you go and try money-making schemes recommended by a friend of a friend. In the end, it's fruitless and you just wasted time and money. You have even less money than before! All because of desperation.

Do Your Homework!

noreply@blogger.com (Shawn @SIDONIEYANG) — Sat, 01 May 2010 16:57:00 +0000

If you don't do your homework, you'll lose a lot financially. Especially with big things.

Let's say you're going to buy a house... and then you are sucked in by the pretty sales centre and courteous staff. Everything seems cool and you sign the agreement and then move in to your new home several months later.

Oh wait... what's that stench? Oh! Your home is down-wind from a cow farm. Great. It's your fault, though, because you didn't do your homework.

Not only does doing your homework in regards to whatever project you're undertaking save you from a lot of future headache and surprises, but it also makes you more intelligent and people will be much more happier in dealing with you.

The Internet is an amazing tool for doing your homework... so make sure to use it!

Buy the Cheapest = You Lose

noreply@blogger.com (Shawn @SIDONIEYANG) — Sat, 01 May 2010 16:52:00 +0000

If you always go for the cheapest things, I'm afraid that you're actually losing more than you're gaining. Sure, you save a couple bucks, but is all the trouble really worth it?

Let's say you buy cheap baby toys... only to find out that they contain lead! You lose.

You buy cheap car tires... and you crash when its raining! You lose.

You buy a cheap house in a cheap neighbourhood... and you feel uncomfortable everyday! You lose.

You buy cheap shoes... and it causes back problems! You lose.

You get the cheapest guy to renovate your house... he does a crappy job and leaves it unfinished! You lose.

So... don't "step over dollars for pennies."

Rushing is a Sure Way to Lose Money

noreply@blogger.com (Shawn @SIDONIEYANG) — Sat, 01 May 2010 16:40:00 +0000

"Haste makes waste," as the true, true saying goes. This proverb is so true. Sure, some of the time when you rush, it turns out okay, but that's purely coincidental.

If you want to protect your pocketbook, save your cents, keep your cash, you have to make sure that you never ever rush into anything; and that doesn't just include spending or making financial decisions - it includes everything else in life!

At the top of my mind right now are decisions concerning your home. You'll buy one, and over time you have to get it fixed. And I'm sure you'll agree that it makes no sense to just randomly hire someone to do repairs or upgrades. I'm also sure that many of you have been burned in the past by choosing a contractor too quickly (I have, and so has everyone that appears on "Holmes on Homes.").

To give you a personal example; there was a raccoon living in my parents' chimney, and so I did a quick search online for reliable pest control. I found one that seemed pretty good, but when I called them, they were really busy and couldn't book an appointment right away. But, I wanted the job done NOW! So what did I do? I chose the first listing on a web search, and a company that would come the same day. Great, right? No... it was horrible.

Firstly, you have to be really wary when someone is available to come immediately; it's a good sign that nobody wants to hire them.

Secondly, this jerk said his crew would arrive in the morning, but it was 3:00 p.m. by the time that they came. I should've sent them back for such bad service, but I was still in a rush, so I got them to do the job. Sure, sure, they were all nice... but only before they got the money. They even had a "2-year warranty." Warranties don't mean anything from a small company with no reputation.

They did their thing, but the next day, the raccoon came back and had threw the wire grate that they installed onto the ground. How did that happen? Well, the people didn't even screw the grate down! They just placed it onto the chimney opening. That's when it got annoying.

I called the Raccoon Guy back and he promised me that they'd come back the next day. They didn't. I called him back again, and he promised and promised for two more days and never came. I waited around for them to come for three days! If that's not a waste of time, I don't know what is. I lost a lot more time than I saved. I also lost the $400 we paid, because they never came back to do the job and never refunded our money like he said he would. Bastard!

Anyway, at least I really learned that lesson and it only cost $400. Imagine if it was an entire kitchen renovation?!

Red Tape is Success

noreply@blogger.com (Shawn @SIDONIEYANG) — Fri, 16 Apr 2010 01:36:00 +0000

If you can deal properly with all the red tape the government and other organizations throw at you... you'll be very successful in this society. Yes, it's true.

I was born and university-educated in Canada, but I sometimes have a hell of a time dealing with the government bureaucracy... imagine how an immigrant must feel!

But basically, I've come to the conclusion that dealing with, and being able to get through red tape is the key to success in our society.

Think of it. Big companies have people who are paid just to deal with all the red tape, forms, etc., that they need in order to conduct business. Entire rooms of people are dedicated to dealing with red tape! ROOMS!!!

So yeah, if you want to be successful, learn to deal with red tape. If you want your children to be successful, teach them to deal with red tape. There should be a course called RedTape101.