Tag Archives: affiliate

Book : How Starbucks Saved My Life

Last week, I finished reading the book “How Starbucks Saved My Life: A Son of Privilege Learns to Live Like Everyone Else” by Michael Gates Gill.

Book Description: In his fifties, Michael Gates Gill had it all: a mansion in the suburbs, a wife and loving children, a six-figure salary, and an Ivy League education. But in a few short years, he lost his job, got divorced, and was diagnosed with a brain tumor. With no money or health insurance, he was forced to get a job at Starbucks. Having gone from power lunches to scrubbing toilets, from being served to serving, Michael was a true fish out of water.

But fate brings an unexpected teacher into his life who opens his eyes to what living well really looks like. The two seem to have nothing in common: She is a young African American, the daughter of a drug addict; he is used to being the boss but reports to her now. For the first time in his life he experiences being a member of a minority trying hard to survive in a challenging new job. He learns the value of hard work and humility, as well as what it truly means to respect another person.

Behind the scenes at one of America’s most intriguing businesses, an inspiring friendship is born, a family begins to heal, and, thanks to his unlikely mentor, Michael Gill at last experiences a sense of self-worth and happiness he has never known before.

I feel like working in Starbucks after reading the book. The author had written in detail on the work culture of Starbucks where everyone is treated with respect. He is referring to Starbucks Coffee in U.S. Over here, our Starbucks are franchised to Bejaya Group of Companies. I am not sure how much of the original Starbucks work culture survived here.

Books are expensive in Malaysia. I stopped buying books but borrowed from the library instead. ;) For those of you who is interested to purchase the book, you can get it from major bookstores. You can save some money by getting used book online. This can be found at Amazon.com. Click on the picture below for best deal.

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People aren’t prepared for rainy days

Today’s NST features a report on Citibank’s financial survey done in October 2008. The result concluded that Malaysians are not prepared to lose their job due to lack of savings. 21% of the respondents said that their savings could only last them a month.

We have heard it many times. The common financial advice given is to have at least 6 months savings for rainy days. How many of us actually do save? In the survey, 60% of respondents said they save 20% of their income, excluding the 11% deducated for EPF (Employees Provident Fund).

Once again I see the 80/20 rule in the result. The Pareto principle or 80-20 rule is like a principle in the universe. It says that the majority of results come from a minority of inputs.

Rather than trying to be a financial expert or an accountant, one can use the 80/20 rule as a general guideline. It may not be 100% accurate but you won’t be left high and dry for the least.

The point is you can often focus your effort on the 20% that makes a difference, instead of the 80% that doesn’t add much.

Last night I shared with a friend about putting aside some funds as money needed for upkeeping the equipments for his business. It is a business that requires equipments to be in tip-top condition. However, I did not mention the 80/20 rule to him. I hope that he will read this blog and apply this in his work and life in general.

Take a look at the titles below and see where and how people apply the Pareto principle.