Why I’m ignore my friends message about business

Last week, I get Whatsup message from my old friends in our Group. He give a good proposal about business. The proposal is as follow :-

He propose to collect RM10K and put it in the business. He said that if all of our members join, it could collect around RM100K and there many business model could be make.
He give example that we can buy product from China and resell again with markup price. He also give example of Chinese people that using collective money to run business.

business
I like the idea but I don’t think I’ll join it because :-

A)  The money he needed is very high. A middle salary man like me and other’s can’t afford unless make some personal loan. I won’t do that just for this.

B)  The business is unknown. My friends don’t give his proper proposal for us to believe. Invest RM10K is not small amount. For some of members, it means 10 years of saving. So, it need detail from planning untill implementation. Just give an idea won’t bring profit. He must give us, who will do the task, run the business and so on.. It is long term or short term? Dunno

C)  I’ve an experience losing around RM5K doing some business project (Pineapple Farmer)with my friends. Untill now, I still can’t forgive that my friends and me also. It could damage our relationship if I am agree with their business and failed. I’ve also experience losing around RM2K when I’m trying to sell kids t-shirt in night market. It ain’t easy and to sell something, we must have knowledge about it first.

D)  I’ve my own project. I’m quite busy as writing an ebook about property (in my language). Other than that, I’ve plan to develop a tenant system application. Other than that, my blog still live and bring some money to me.

E)  I don’t believe about big project that only using capital. For me, it is better to run small business and growth. Not from big business and get big profit. Big capital won’t guarantee to get higher profit.

F)  He is a businessman but not in trading business. As I know, he is in catering field. There’s no guarantee he can do the trading business as success he do  in catering business.

G) It is not time to business. This year, economy is down and as the GST come, it will affect business. For me, it is better to look on how GST is working in Malaysia before take any risk to run  business. As far as I concern, it will take about 1-2 years to stabil after GST implement.

GST Malaysia

Maybe you have an experience that your friends bring business proposal to you. What about your opinion ? Do you have any issue about it?

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