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5 Things The Richest Man In Asia, Li Ka-Shings, Wants Young Entrepreneurs To Know

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5 Things The Richest Man In Asia, Li Ka-Shings, Wants Young Entrepreneurs To Know

In this age of information, young entrepreneurs are flooded with tips on how to be successful.  Wondering how to evaluate the quality of the advice you receive?  The best source remains from the horse’s mouth; that is, those who have gone before, and achieved the success that you wish to.

If your ambition is to achieve financial success, you will do no better than heeding the teachings of Asia’s Li Ka-Shings, the richest man on the continent.

Ka-Shings left school at age 12 to work as an apprentice in a watch-strap company, and by age 14 was working full-time in the plastics industry to help support his family.  In 1950 he went into business for himself manufacturing toys and other plastic items.  Today, he is the richest man in Asia, with nearly 300,000 employees around the globe.

While his accomplishments are staggering, in an editorial piece recently translated into English Ka-Shings offers a few pieces of foundational advice that can help entrepreneurs at any stage:

Buy lunch for those more important than you.

Ka-Shings recommends treating influential people, those who mentor you, and those who have helped you to a meal once a month.

The cost, he attests, will soon be returned in the benefit in status, reputation, and opportunity that a young entrepreneur receives in return.

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Is a regular meal out of your budget, or out of your networking reach at this moment in time?  Try to set up coffees, or send handwritten notes to those you wish to further connect with.

Over time, the lunches will come.

Study.

“Become a bookworm,” Ka-Shings says, and encourages entrepreneurs to study voraciously.

Once you have taken in the knowledge offered by a text, take time to translate the information into your own words and apply it to your own experiences.

Not sure where to begin?  Search around for a business owners club or book group with a similar focus to help you stay on track and share ideas.

As your income grows, set aside a proportional amount for continued education in the form of courses and conferences; such pursuits not only increase your knowledge base, but also expand your network.

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Learn the art of the sale.

At their foundation, all entrepreneurs are salespeople, affirms Ka-Shings.

Therefore, you must learn to become a savvy, focused salesperson for your brand or service.

Lacking in experience?

Get a part time retail job, or work in retail during a peak season to get a taste of selling.  Learn and observe both what works, and what doesn’t.

Having trouble finding a good experience?

Network marketing is a growing industry that relies on an individual’s ability to close the deal even more than traditional retail; find something you like and sell, baby, sell!

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Plan.

Life, says Ka-Shings, can be planned, from wealth to relationships to business.

He says that in particular, an entrepreneur should focus on and give to others in the early stages of their career, and focus on themselves once they’ve “made it.”

The proverbial pavement must be pounded until achievements are reached; then, one can relax.

Many, he notes, have this backward – they hunker at home or in offices rather than focusing on building relationships with people, hoping to have time for others “later,” not realizing that others are the key to their success now.

Live in a disciplined manner, appreciating each cycle.

There is no shame, muses Ka-Shings, in being young – entrepreneurs are young and poor and working at some point in their lives, and that is as it should be.

Embrace it.

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Likewise, once success is obtained, embrace the stature you have earned and enjoy the opportunity to bask in it.

Bask quietly, however, so as not to be inappropriate.

In a more modern sense, Ka-Shings is speaking to the need to be fully engaged in and enjoy the present moment, and to realize the value of balance.

He is a strong advocate of travel as a way both to increase professional knowledge and experience and gain much-needed rest from work, the requirement for the retainment of passion.

As with everything else, travel on a dime when you are starting out, and on a more lavish budget as your stature improves.

Ready to pursue Ka-Shing’s advice?

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Start by checking out these 20 Must-Read Books for Young Entrepreneurs.

Featured photo credit: taxrebate.org.uk via flickr.com

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Last Updated on January 13, 2022

15 Best Places for Expats to Live (And Why)

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15 Best Places for Expats to Live (And Why)

Many of us dream of living abroad but can often be scared to make such a big change to our routine lifestyles and leave our home countries behind. Daunting as it may be, living abroad can be a rewarding and fulfilling endeavor and can give you the quality of life you have been looking for.

From a warmer climate to a more easy going way of life, there are many foreign countries favored by expats who stay for a long time – and sometimes forever. Taking into consideration livings standards, opportunities and social aspects, here are our top 15 best places to live as an expat and why.

1. Thailand

A hot spot for expats, the ‘land of smiles’ as it’s commonly known offers expats a tropical climate, a huge array of sandy beaches and islands to explore, and a rich culture. The cost of living in Thailand is extremely low, and when combined with the friendly tax system means that disposable income can be very high.

Bangkok, Thailand’s capital city, offers expats great employment opportunities.

2. Switzerland

Another popular destination for expats, Switzerland offers exciting employment packages and a high standard of living. It’s great for those who love the outdoors, as there are many beautiful lakes, mountains to hike in and skiing in the winter. The school standards for expats are also excellent, making it appealing for those with children. English is also widely spoken so day-to-day living can be stress free.

Unemployment in Switzerland is low and expats moving here don’t need to worry too much about finding a job before they arrive.

3. Australia

Many foreigners who visit Australia don’t want to leave as it offers a great quality of life, beautiful beaches and a warm climate. Making friends in Australia is easy too, due to the lack of language barrier and the large number of expats who already live here. Australia is a great place to move to if you have children because of its wide range of schooling possibilities and recreational outdoor activities.

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Low population levels and high quality of life are two of the main reasons expats choose Australia as a place to live.

4. Singapore

Expats in Singapore can benefit from generous financial packages, great career opportunities and low tax rates. Although education is expensive here, it is rated one of the top places for raising children abroad due to the quality of the education system and the array of schools.

Public transport such as buses and MRT (Mass Rapid Transit) are cheap and very reliable in Singapore.

5. South Korea

South Korea offers expats a unique range of opportunities and a very different way of living. Jobs for expats are easy to find and usually very well paid, with apartments provided by the employer on the most part making living costs even lower. There are also many tight-knit expat communities in South Korea, making it easy to socialize and meet new friends. The excellent education system is also a pro for families wanting to move to this culture-rich country.

South Korea has a cheap public healthcare system and offers great medical care, with most doctors speaking English.

6. New Zealand

New Zealand is constantly on the lookout for skilled workers to expedite to the country – especially those under the age of 30 – and skilled migrants can be granted a stay for up to five years. It offers a good climate and although income levels can be lower than other countries, quality of life is high, with its awe-inspiring scenery, low crime rate and state sponsored healthcare.

New Zealand is great for those looking for a laid back and active outdoors lifestyle.

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7. Canada

Its national healthcare system, friendly locals and very high quality of life are just a few of the reason expats choose Canada as a place to live. It’s very welcoming to expats and skills shortages encourage foreigners to move here in order for the country to grow economically. It’s easy for expats to feel comfortable quickly in Canada due to its multicultural environment.

Canada was largely unaffected by the economic crisis, making it a very popular country for expats.

8. Qatar

Qatar is becoming increasingly popular among expats with an estimated 500 new arrivals every day. The salaries are generous and are tax free too, making disposable income very high. Car and housing allowances are part of many remuneration packages, and education for your children and airfares are often included.

The cost of living is lower in Qatar than in other UAE countries but salaries can still be just as generous.

9. Hong Kong

Where east truly meets the west, this bustling island has a population of over seven million people. If you’re looking for a fast-paced environment and an active nightlife, Hong Kong is definitely the place to be. Benefits for expats include its advanced healthcare system and elevated standards of schooling for children, along with great employment opportunities. The cost of living in Hong Kong can be high, so trying to negotiate a housing allowance with your employer can be beneficial.

Hong Kong is great for those looking for high incomes and career advancement.

10. Japan

As an expat destination, Japan offers a rich culture and a chance to experience a very different day-to-day life. Currently around two million expats live in Japan, and in the larger cities such as Tokyo a large portion of the population speaks English. English speakers are also in demand and there are a large number of opportunities for language teachers, especially in the capital.

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Japan offers a high standard of living for expats and a good education system for those with children.

11. Spain

Spain is a very popular destination for expats due to the high temperatures and year-round sunshine. EU residents don’t require a visa to work here, meaning the move can be a lot easier. Skilled foreign workers also continue to be in demand with jobs such as engineering, customer service, skilled trades and language teachers widely available.

A huge 14% of Spain’s population are expats from a variety of foreign countries.

12. Dubai

Two of the main attractions of moving to Dubai are the tax-free salaries and the warm climate. Some of the most popular jobs for expats are in construction, banking, oil and tourism. You can also enjoy a busy social life in Dubai as the expat community is thriving. Although it can be an expensive country, the tax-free salary means you experience a higher quality of life than in other countries.

You will need a work permit, residence visa and an Emirates ID card to live in Dubai as an expat.

13. Germany

Germany is one of Europe’s most populous countries, with around 82.4 million people. It’s a lively and inexpensive country to live in as an expat, and if you have children the education system is great and healthcare is to a high standard. An estimated 250,000 expats live in Germany currently, with the numbers rising every year.

If you are already an EU citizen, you don’t need a visa to live and work in Germany.

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14. The Netherlands

The Netherlands is a great place for expats who love the outdoors. Cycling is one of the main modes of transport and looking after the environment is widely recognized. There are a lot of English speakers in the Netherlands too, but learning the language can work to your advantage and make day-to-day life that little bit easier. Skilled expats can also benefit from a tax-free allowance equivalent to 30% if they meet the correct criteria.

It is often more important to be able to speak fluent English than to speak Dutch when looking for employment in the Netherlands.

15. China

China offers expats great employment opportunities with little competition. Those who embrace the culture and decide they want to live in China long term can see a host of employment opportunities as its economy is growing rapidly every year. Economists predict it will overtake the US as the world’s largest economy by 2018. China also offer expats low living costs and high disposable incomes, which is why many look to live here for a higher quality of life.

Shanghai and Beijing are the most popular destinations for expats who live in China.

Featured photo credit: Saulo Mohana via unsplash.com

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