The latest news for you- Nepali Chamber E-Newsletter

October 2021 ISSUE

Greetings NACOC Families!

Welcome to the opulent-October, the month of colors and richness for nature lovers, the month of trick & treats for kids, and also a big month for the game fans as NBA and NHL, both begin their season in October.

But more than anything, this is a very special month for us as we are having our 6th Annual Gala Dinner on October 30th. Please save the date and get your tickets to enjoy a Casino night, a fun-filled evening celebrating your presence and continuing support resulting Chamber's growth.

This special month we have a very special guest for you; a young leader who not only has amazed the DFW community through his vibrant entrepreneurial pursuit but also surprised himself being a relentless finder of his own potential.

Let's welcome Mr. L.B. Subba, a name that is rightfully connected to solar-power, the natural source of light and inspiration.

Please briefly tell us about yourself.

I'm a serial home-based business owner. I am always looking for ways to positively impact peoples' lives through my entrepreneurial journey. Currently, I run multiple home-based businesses under the umbrella of my company - Nembang Enterprise LLC and Nembang Properties LLC. One of my recent ventures is Solar Switcher - A solar broker-dealer business in the renewable energy industry.

Any area that you find most fulfilling?

I love helping others who want to become entrepreneurs and who are struggling to get started. In my free time, I read a lot of books about entrepreneurship and life.

What does entrepreneurship mean to you? What inspires you?

Entrepreneurship to me is the best way to serve the marketplace and make that dent in making this world a better place to live. To me, it is a perpetual quest of delivering solutions to the world.

Whenever I see something missing in a massively growing business niche, that instantaneously inspires me to do something about it. It is an igniting factor of all the business ventures that I've done so far.

Your expectation from community? /Chambers?

I'm a learner always looking to learn from others and our community and chamber has been that place where I get to meet other entrepreneurs and pick their brains apart from business networking.

Any mentor/s you have/had? Will you be one?

I believe one of the fastest ways to grow in entrepreneurship is to leverage experts and automation which I'm always longing for. In every business niche, I've entered so far, I've chosen to pay the full price and maybe a little more to have experts and mentors on my side. I also regard the author of some of the best books that I've read as my mentor. Few to name are Jim Rohn, Eric Worre, Brian Page, Grant Cardone, and the list goes on.

One thing I wished that I knew in my starting months/years of business- is the power of experts and automation in entrepreneurship. The only shortcut that I know which will help individuals become successful entrepreneurs is having experts from your business niche on your side and automating your business with optimal efficiency.

My favorite failure that made me stronger [who I am today]:

Dwelling in a small success and in a tiny market almost ruined my business and life back in 2016. So never get settled. Stay blissfully unsatisfied and anticipate bigger challenges in business and life. Remember, your size of income in your business is directly proportional to the size of the problem you solve. In addition, never stick with only one source of income irrespective of the size of it.

Fun thing about me/ or a habit that impacts my growth.

One thing about me that I believe directly impacts my growth is my tenacity to business ideas that I made a commitment to.

My favorite quote/book/movie/motivator?

One of my favorite books is Rich Dad Poor Dad. Movie "The Pursuit of Happiness'. The quote that motivates me the most " “The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.” -Martin Luther King Jr.

2 tips for aspiring entrepreneurs?

1-Never be afraid of failure. Take a calculated risk and fail faster. That is one of the best ways to become successful.

2-Don't even think about cutting corners when it comes to paying the price for success. Leverage the experts and automation in your business niche in a full swing.

My message for young generation: is to stay open and do things that are out of their comfort zone. There is nothing rewarding in your comfort zone. As Neale Donald Walsh said, "Life begins at the end of your comfort zone. "

Thank-you Mr. Subba for your entrepreneurial pursuit to yourself and the DFW community. We wish you the best!

Sincerely,

Nepalese American Chamber of Commerce

The Nepalese American Chamber of Commerce is an independent, not-for-profit US Corporation devoted to create, protect, promote and enhance economic opportunities & prosperity to Nepalese Business community in the USA.

It was established in 2014 to advance and promote the economic environment for business, and to advocate responsive government and quality education, while preserving unique characteristics of Nepalese-American communities.

October Birthday Special

October Birthday? Your birthstone is Opal and your flower is Calendula.

"As we look ahead into the next century, leaders will be those who empower others."

Happy Birthday to October-born entrepreneur-Bill Gates

October says: Let's make a healthy commitment

What Is Financial Health?

Financial health is a term used to describe the state of one's personal monetary affairs. There are many dimensions to financial health, including the amount of savings you have, how much you’re putting away for retirement, and how much of your income you are spending on fixed or non-discretionary expenses.

KEY TAKEAWAYS

The state and stability of an individual's personal finances and financial affairs are called their financial health.
Typical signs of strong financial health include a steady flow of income, rare changes in expenses, strong returns on investments, and a cash balance that is growing.
To improve your financial health, you need to assess your current net worth, create a budget you can stick to, build an emergency fund, and pay down your debts.

Understanding Financial Health

Financial experts have devised rough guidelines for each indicator of financial health, but each person's situation is different. For this reason, it is worthwhile to spend time developing your own financial plan to ensure that you are on track to reach your goals and that you’re not putting yourself at undue financial risk if the unexpected occurs.

Measure Your Financial Health

To get a better grasp of your financial health, it might help to ask yourself a few key questions—consider this a self-assessment of your financial health:

How prepared are you for unexpected events? Do you have an emergency fund?
What is your net worth? Is it positive or negative?
Do you have the things you need in life? How about the things you want?
What percent of your debt would you consider high interest, such as credit cards? Is it more than 50%?
Are you actively saving for retirement? Do you feel you’re on track to meet your long-term goal?
Do you have enough insurance coverage—whether it be health or life?

By JULIA KAGAN

ASCENT-A free learning platform for women entrepreneurs

Women own or co-own 45% of all businesses in the United States. These businesses represent all types of industries and are owned by all types of women. The majority are small, with great potential for growth in both revenues and job creation. That’s why we created Ascent and packed it with in-depth information to help you grow your business.

Ascent is divided into major topics called Journeys, developed by experts in women's entrepreneurship. Choose any journey to start, skip the ones you already know. Within each Journey, you'll find Excursions with the tools you need to master a topic. Each excursion includes a time estimate for completion. You're the boss of when and how to apply these tools to your business.

Exercises & Tools: Learn and apply growth practices to your business.

Fireside Chats: Learn from experts about how women grow their businesses.

Infographics: Gain a snapshot view of growth concepts.

Success Stories: Be inspired by stories from real-world entrepreneurs.

Discussion Guides: Use questions to stimulate thinking for you, your advisors or team.

Videos: Grasp key concepts in just minutes.

Key Insights: Understand key topics to support your business growth.

Self-Assessments:Benchmark your current practices through self-focused inventories.

Community Update

Thank-you September for making these possible:

2nd Gas Station & C-store seminar a huge success! [September 11.2021]
Honoring all our Life Members in a very 1st Life Members Appreciation Event as a token of gratitude. [September 25.2021]

Now it's time to save your spot for the much awaited Gala Dinner on 30th of October!

October: The Month of Market Crashes?

October is a unique month. In the west, October is a transitional month as autumn slides relentlessly towards winter. It also boasts the only holiday where people are encouraged to dress up, scare each other, and extort candy with threats of mischief.

October has a special place in finance, known as the October effect, and is one of the most feared months in the financial calendar. Let's have a look to see whether there's any merit behind the fear. The events that have given October a bad name span over 100 years.

KEY TAKEAWAYS

The October effect refers to the psychological anticipation that financial declines and stock market crashes are more likely to occur during this month than any other month.
The Bank Panic of 1907, the Stock Market Crash of 1929, and Black Monday 1987 all happened during the month of October.
Historically speaking, however, September has had more down markets than October.
The psychological effect that causes some traders to blame October for stock market declines may actually make it one of the better buying opportunities for contrarian investors.

Read more: https://www.investopedia.com/articles/financial-theory/09/october-effect.asp