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IMpossible Leadership By Francis Lim

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  • IMpossible Leadership By Francis Lim
    Soul Rich Woman
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Episodios
  • HOW I OVERCAME MY STRUGGLES?

    HOW I OVERCAME MY STRUGGLES?
    Aug 6 2020
    Hi, this is Francis Lim. Welcome to my show. In this episode I will let you know what brings me to the survival of my life during low periods.Every one of us have our own dreams. Dreaming of bringing our family to Europe for tour every year; buy the car we always dream of; be a successful boss; doing social work without worry….and so on. But end of the day, it voice down to the capital that needs to achieve our dream. Everyone started to hope that we can be financially free so that we could enjoy our dream life without worries.Sad to say that being an employee, our dream will always be a dream. Please do not mistaken, I am not asking you to quite your job today. When you have constant income, it is easy to accumulate financial cost for your investment. So keep your job.My way of doing, first, we have to know some skill of financial planning which consist of financial management and financial Investment. They are both different. Following are what I have practise in my life, and they have brought me to the survival till today.I practice “Kakeibo” a traditional Japanese family finance management. We have seen Japanese succeeded over the last few century and one of which I personally feel their success reason is their culture of bring financial concept into their home. I am not going into details, you can always google it online. I will just highlight a few points that I feel important to know.“Kakeibo” is actually the Art of saving. It is basically a family financial planning book. Recording the income and expenses, which is exactly the same as the balance sheet we use today in the corporate world (Assets over Liability…..). What they do is to minimise the expenses and optimised the saving.The practise of Kakeibo could help you build a healthy habit and even a good culture in your family.There are 6 ways of saving habit I have cultivated by practising Kakeibo:(rule number one)1) Every evening before bed time, I will take out the change of $5-10 from my wallet and save it to my piggy bank2) Act that you spent more. Example. If I spend $25 in the supermarket today, I will pretend that I have spent $30, and save the $5 difference into my piggy bank.3) Create a shopping list before I go to the supermarket every weekend, this will avoid me from duplicating of purchase or over spending. With this list, I’ll go straight to the location of the shelving, get what I need and go off.4) Set rules to fine myself money. For example, I force myself to wake up 6am every day, so when I wake up late, I will fine myself $20 per hour. This can build a good habit5) If I wish to buy a branded goods, I’ll delay a month to buy it. If one month later I still have the urge to buy, then I’ll proceed to buy. This will eliminate most of my impulsive purchase habit.6) If there is any money return from a friend, I’ll safe them in piggy bank instead of spending it. As this is not my income, it is original your money.In my opinion, try not to lend money to others. If need to, I’ll ensure that there is a good plan for returning.So, with this financial management, I have about 30% more saving than usual. If you are like me, your Cash flow should be healthy. Following are my advice on using the cash flow:1) Do not safe them, the bank interest is much lower than the depreciation rate2) Invest on Medical, hospital and a little of life Insurance policy. To me, the rest are not worth to buy.3) With more cash flow, you can do other investment.InvestmentPeople always ask, why do you need investment? This is my theory, when your cash flow is dead, it will depreciate. And when cash flow correctly, if will grow tremendously. Therefore I always have money flowing around in the market. Instead of deposit into my bank account.Now, there are many type of investment in the market. They are classified as passive investment (also call passive income) or Active Investment. Passive investment do not need to spend too much time on it. And the other which is active investment, you need to spend little time to manage it yourself, like a business.I would like to start with passive income first. There are few ways to earn passive income. Invest in a Business that runs by a partner you could trust. But this is very rare to get.Setup an online store is one of which, but it is very competitive now. However, there are still people who has good earning with this model. BTW, this is not my strength.Next, if you have enough capital, buy property and wait for the value to rise, at the same time collect rental. Choose a good location that always has rental demand, it can’t go too bad.People who has not enough capital to invest on property can buy the shares of the property developer or the share of property Reits. In here, instead of collecting rent from physical property, you can get dividends. This is one of the investment I did.For those who has little money, you can investing on shares that ...
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    14 m
  • MY WORK EXPERIENCE

    MY WORK EXPERIENCE
    Aug 6 2020
    Hi, this is Francis Lim. Welcome to my show. In this episode I will bring you through my working journey and what I have learn in Life.After graduating from the Technical School, I served the Singapore Navy for 6 years. Enjoying above average market rate salary, I began to spend money without much thought, and I got my first girlfriend then. Living my life at a tip.This wasn’t for long when I left the forces. I joined a local company dealing with oil and Gas. Very different from military life, the earning was little and I have to work much longer hours.Every month was a deficit for me and I have to start spending my savings. Life was tough. After 2 years, I started to look into my life where I feel like going back to school again. In order to have the momentum in my study, I downgraded myself to take up a lower grade part time Electrical certificate for 3 years. I also resigned from the oil and gas company to work as part time so that I have flexible hour for my study. In 2002, I found a MNC job in the lighting industry. This is the first time I found my talent in work. I started to like my Job. Meantime, I still continue pursuing further on my studies and I got my Diploma in sales and finally my Master degree in Business study.My effort in the lighting industry was recognised. The company that I was in, is a German company. They wanted to build a production line in China for Automotive Lamps, and I was one of the chosen employee to help transferring the knowledge into China.The salary was average, but I got the chance to fly all over the globe. Travelling to Europe for information updating, and implement them into China and the rest of the APEC. Averagely, I have a chance to go Europe twice a year. To be frank, I hate to go Europe because it is too romantic and I didn’t bring my girlfriend.I was stationed in China until everything was stable, then I was posted back to Singapore as a senior regional sales manager in the Automotive department. One day, a call from Taiwan came. A LEDs packaging company invited me for an interview. The interview was smooth, and they were very interested to offer me a job. This company is in the LED industry for 30years and is one of the top 10 company in Taiwan. They would like to set up an automotive division and wanted to me lead the team. The salary they offered was really very attractive. Three Times of what I had. I was struggling in my mind for a while.I finally chose to take up the challenge and started my new era in Taiwan. I was the head of the Automotive Business Unit. It was not easy, as being an outsider leading the entire team full of local talent. Most of the employees of this company were the talent from the best University of Taiwan. After some time of mind wrestling with the Taiwanese, I manage to get them to cooperate.I have led the automotive division from 0% sales to 5% of the entire company revenue in just one year. I have planted a seed for this Taiwanese company, they appreciate it and grow highly blossom. Today the company is a threat for many LED giants in the automotive lamp industry. This was mentioned in one of the 2020 issue of “LEDinside” Magazine.In early 2016, I resigned and was back to Singapore due to family issues. My mom was sick and needed medical attention. Tough time for me, many Medical Bills and stress.I tried to find a job in Singapore. Unfortunately, my expertise is not appreciated here because there is no automotive industry in Singapore. A friend then advised me to start a business doing construction material supply. This idea inspired me as my dad was also a businessman.With lack of knowledge in the construction industry, I wasn’t doing well. Money collection and turnover is bad and I lost quite a big sum. However, I came to know many friends from this industry. And luckily, I have some profit on an investment that help me survive.The network brought me to a guy who is the founder of a Bluetooth application technology. With my knowledge in the Lighting industry, I got very interested in his invention. The current lighting control systems in the market are limited by the protocol they used. And this guy’s technology could fill up the gap of the protocol.So with the money I gain from the investment, I decided to join him. With his invention and my knowledge in lighting, we set up a company to provide a solution system for the customer. This will help our customers to save a lot of money and have a good product. We have developed from a lighting control system to a full office automation system. I strongly believe that my new business is going to be successful. This is because most product in the market are stuck in the protocol, and this is a good opportunity for us.Above are some working experience that I had. I hope my story will inspire you in one way or the other. 3 takeaways in today’s episode:First, appreciate what you have. Life is always going up and down, so learn to appreciate what you have. I am ...
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    12 m
  • MY JOURNEY

    MY JOURNEY
    Aug 2 2020
    Transcript for Ep 1:Hi, this is Francis Lim, Welcome to my show. In this episode I will be sharing with you my journey.My life is like sitting on a Viking, having ups and downs no better than the Dow Jones Chart. I was born in a poor family. My parent were the earlier batch that moved from Malaysia to Singapore, before Singapore went independent. My dad could not find a proper job as the economy was very poor then. Without much choice he started a business as an electrical installer. My mom helps him.My dad did pretty well after some years. He was the lighting installer for the Singapore first Urban park (the Toa Payoh Park). Unfortunately, he was being cheated by a relative and all his hard earned money was gone. So our family didn’t really have the chance to enjoy anything. Since young, I have mind focusing problem. That is why till today I didn’t fully finished reading a book. This has built-up my character of having very short patient for result. However, in today’s contact, movies in FB and TikTok really suit me well. Because it tells the whole movie within 5 minutes. This can also tell why my study is always right at the bottom.My parents never had any proper education before, they couldn’t help me in my study. In order to fulfil my parents dream I lied about my Kindergarten’s result to get myself into a reputable school,.For sure, I could not catch up very long at the reputable school, I failed my primary 5 and was then posted to a very low graded School. A well-known gangster school which doesn’t exist today. I was being bullied. My daily pocket money was robbed and I didn’t have my lunch for many months. However, I managed to survive. I realised that the leader of the gangsters needs to pass the Primary 6 PSLE. This is is his last chance to get into secondary school.Remember, that I was from a reputable school? Although, I didn’t do well in that school, I became the Top No. 1 student in this new school. I let the gangster leader copy my homework and gave him free tuition after school. We became good friends and his ppl didn’t touch me anymore. And through giving free tuition, I actually pickup quite a lot myself in my study.In 1985, I went to a low grade school secondary school, though I did quite fine on my PSLE. That is because at the same year, Singapore changed its educational scheme to English as first language. I was all along from the Chinese scheme. What a luck? I got into trouble again. Of course, I am not the only one being affected, many are like me became the victim of this new scheme. This hit badly on my study during secondary school. I became depressed and didn’t want to put much effort on my studies. The only two out of eight subject that kept me going were Chinese and Math. I would say that I am fairly good in my Math. I didn’t like my Math teacher since the 1st quarter in Sec. 1, so I have an agreement with her that I will skip her lesson but I promised to pass all my math test.Fortunately or unfortunately, she was also my Sec.2 Math teacher, so the agreement stands. For the two years, I hardly attend any Math class but I passed all my math exam.During the secondary school days, my main focus was the ECA instead. I took up Chinese Orchestra. I played Bamboo Flute, and I played it pretty well. I could do both Solo and Concerto. My schoolmate started to admire me because I always have a chance to perform on the stage. That was the first big turning point in my life that I started to enjoy it. A few of my good Orchestra-mates were really enjoying it, we even climbed over the school fence every morning at 5 am to practice. The school gate open at 6.30 and my class starts at 1pm. Our Orchestra for so many years being an unknown group, became an Orchestra that have 3 top merit points in the entire country at Secondary school level in 1987. We also perform in the public concert hall, which we sell tickets and raised fund for the school.After I graduated from Sec Sch in 1988, I continued my study at Singapore Technical institute on electronics, a low class Technical school in Singapore. I was 18 then. And Again, I did not focus much on my Study, instead every day after school, I rushed to a hotel in town to perform my flute for $150/hr. I did 2 hrs daily for 5 days a week. This is a huge amount for a student even at this time.Looking back to my education journey, it wasn’t that fantastic at all, I didn’t have any certificate that is recognized by the market to be a leader. However, I am really thankful that a new door always opens for me when one is shut. Since there is always a way for life, I told myself, I want to get rich one day, I want to be a leader one day. Therefore, I didn’t give up at any point of my life.I hope today’s story will inspire you in one way or the other. Three takeaways that I hope they could be with you for live:Firstly, the way to Survive in Life-- face the problem, do not run away from it. I negotiate with the gangster ...
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    11 m
Liderazgo Economía Éxito Personal
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