Khin Maung Nyo (Economics) - From Zero to Zero

1. Risk and risk management

Every day we face small decisions, such as what to eat and what to wear, and big decisions. But when those big decisions have major, irreversible consequences for our lives and the lives of those who depend on us, we need to weigh the risks carefully. For big decisions, we need to weigh the risks carefully.

My parents were the ones who taught me the meaning of risk. My father and mother were always looking for new ways to make a living. My father, as a jade trader, never thought twice about taking risks.

The world of jade is not an easy one. I once read in Fortune magazine that the head of De Beers Diamond Company said that the world of jade trading is very much based on luck.

There are many different types of jade in the jade market. There are green, purple, and white. There are many different qualities and prices. The most valuable jade is the imperial jade, which is clear and shiny. Jade comes in the form of stones and rough stones. My father went to the jade market with all his money. He bought raw jade that had not been colored before and at a competitive price. It was actually the most risky business. You could only guess what was under the stone. To attract buyers, jade merchants would cut off a little of the top to show what was inside the stone. I relied on myself and bought it by bidding. It was not an easy matter. Sometimes, people would rush to buy the same item, so the price would go up. My father would spend a lot of money and go home. My mother was skeptical. But it was profitable and I had seen many cases where my mother would praise my father.

At home, there was a machine that cut and polished jade. When he got a jade, he would talk to his mother. My mother would often complain that she had bought a lot of junk, that her money was about to run out, and that the river was about to flow away. Then, when the machine started, my father would polish the jade. Our hearts would race with the sound of the machine. Sometimes we would forget to breathe and pray for the best. When he stopped, the room would go silent and you could hear the sound of a needle. Sometimes we were lucky. There would be a huge piece of jade in the stone, which was of good quality. Sometimes we would find a small piece of jade that was big enough to make a jade ring. In those cases, our future lay in that piece of jade. It was a risky venture. You had to have a strong heart to take on that venture. I think I inherited that heart from my father. Because in the future I would have done a lot of risky business. But in today's modern business, it's more about managing risk than taking it. Business owners have everything they need to reduce risk at their fingertips. I'll use those basic principles. If you believe in yourself, there's no reason not to take risks.

Rule No. (1)

Know your customer, find them.

When I first opened my showroom, Klis, it was successful because there was a large group of people who wanted smart business attire. There was a large group of people who were working. It was really because I was in the right place at the right time, with the right stuff.

Rule No. (2)

Do research.

Research your ideas and concepts. Today, the Internet provides a wealth of information that can help you determine whether a business idea is a good one or not. This information includes market trends and