blog

Rakuna 1 month review

Sat, 07 Mar 2015 16:38:31 +0100

Rakuna has been born 1.5 months. The first half of the first month, we pivoted from a context-based data sharing idea to a campus recruitment management solution. 1 month into this new pivot, here are what we have accomplished:
1. Email 50 people
2. Interview 17 people. Identify 6 people for MVP round.
3. Have 7 people in our pipeline to follow up for interview since they were busy
4. Have our first MVP - an explanation video
5. Have our first survey ready

Trong is falling out because of his work situation and the stress increased as he has to find a new job now. I need to find a new technical co-founder who can help me build and develop this thing.

Goal:
1. Join MN cup (application open March 23, 2015 - May)
2. Get 10 paying customers even without any coding by May
3. Let's recruiters test our MVP (beta version) during summer
4. Join MN startup weekend (September 8-13, 2015)
5. Launch version 01 in Fall

March 1 - Exciting projects I have been working

Sat, 07 Mar 2015 15:58:49 +0100

Hello blog,

I am excited to use this year to indulge myself in new startup projects that I was too scared to get involved in before. As you probably already know, I have always wanted to have my own business. One thing I learned after working at EY and other places is that working for others only excites me for a limited period of time, and then my excitement will die down through time. I do not want to specialize in one thing. I want to get the full exposure, get my hands dirty on all aspect of a business. That is entrepreneurship is so appealing to me.

I hate H1B visa lottery, but I do have to thank the unfortunate event which happened to me since it brought me back to school, and give me the time and opportunity to explore the world of startup. This Spring is an exciting time, because I am involved in two startup projects with two loved ones: an online HVAC training business with my American Dad, and a recruiting solution for campus recruiters with my now-husband - Trong Dong. Oh yeah, have I told you that I got married? (on paper :))

Anyway, our startup idea is gaining validation from customer interviews, so hopefully it is getting somewhere.

Trong's green card process is not looking good. His boss, who promised him the GS, now all turned on their words and told him to wait and see. Honestly, these white male are totally entitled and have no ideas how sucky it is to be an immigrant. We are nervous, what can we do now? Trong devoted 4 years there to suck up and they said they do not see him committed long-term there? Fuck off

New role - Accounting Consultant

Thu, 18 Sep 2014 15:39:58 +0100

Hi blog!

It has been such a long time since I blogged. Many things have happened. I did not make it through the visa lottery and now come back to school for Master of Accountancy at U of M. I have just accepted a part-time job offer as an Accounting Consultant for a small business. The role is challenging but will be very exciting for me.

I like to describe my role as the Controller & CFO's roles. The business owners have 3 separate businesses under the same book. He is planning to grow another business and want to separate the books for the 3 business. He also needs help to putting his finance in order so that he can raise funds from banks or investors.

I have initially thought my first step would be to sit down with the owner and the business strategy to understand the business model of each of the 3 businesses, understand their plan to grow for each of these businesses and their plan for their new business. I would then sit down with the bookkeeper and each person in the office to understand the nature of transaction, how transaction is recorded and how the business is operating.

Yesterday, I came to Larry Kallio, my professor and the director of the MAcc program for advice. He really opened my eyes and guided my thinking to somewhere I never thought about: setting up the GL code to capture every transaction in the correct category. That is the only way I can build a process that helps me with good data to analyze in the future.

" You need to build a process that will run by itself without you."

I think it is really my job here and why they hired me. How am I going to establish an accounting process and procedures so that when there is turnover, people know how to pick up the task and just roll with it.

How am I going to set up a system so that in the future, I can easily pull data and drill down the way I want to perform my analysis. My job is to set up the system and perform data analysis to provide insight into the business' operation and opportunities for cost cutting or revenue growth.

I have done a little bit research about setting up an accounting system based on my professor guidance and I want to capture it here for my future reference:

1. Pick an accounting method: Cash or Accrual basis
2. Choose a method to record transaction: hard-ware or soft-ware? which accounting system? (Quickbooks? Intuit? etc.)
3. Set up "Charts of Account"

Your chart of accounts in an accounting system, designed specifically for your company to help track and report your income and expenses
QuickBooks Pro and some other software programs include a "wizard" that will customize a "chart of accounts" for your business.
Set up your categories:
1. Assets - everything your company owns (or is owed), including current assets. fixed assets, accounts receivable, inventory. In this category, also include an account for accumulated depreciation for each asset.
2. Liabilities – everything your company owes (or may owe). Current liabilities include your accounts payable and taxes (both payroll and sales). Long-term liabilities might include a mortgage or some other long-term debt account.
3. Owner’s equity – your business investments. This account should include common stock and preferred stock, in the case that you have investors at some point.
4. Revenue – Sales revenue is your primary source of income. You may also choose to include accounts for sales discounts or returns. It’s also a good idea to create an interest income account for any income earned on company investments. Consider, too, the cost of goods and other related sales costs under your revenue account.
5. Expenses – For expenses, you may want to start with the Schedule C IRS Form. While the point of your chart of accounts isn’t merely to help you to file your taxes, this tax form is still a good starting point to build on for creating your expense account. This form includes such things as advertising, contract labor, employee benefits, legal and professional services, repairs, and more.
http://earlygrowthfinancialservices.com/creating-your-chart-of-accounts-for-your-startup/

4. Learning and Maintaining your accounting system
- Perform bank reconciliation every month

5. How long to keep business record?
- http://blog.mynewcompany.com/how-long-to-keep-business-records/
- Scan and keep business record on dropbox or google drive

6. Set up system to collect payment
7. Create a payment collection process
8. Forecast expenses: to reduce burnrate
http://earlygrowthfinancialservices.com/how-to-reduce-your-start-up-business-burn-rate/

Things that inspire me

Mon, 10 Feb 2014 04:36:19 +0100

1. Frozen movie

This song is just incredibly inspiring "Let it go"
https://www.youtube.com/watch?v=moSFlvxnbgk

Updates

Mon, 10 Feb 2014 04:37:14 +0100

Life is not as easy as you think you can plan it. Let me update on the 2 previous news I posted earlier last month

Great news 1 - Trong's parents only accept our marriage if at least one of us would go home to help his parents' business. Thus, no further marriage talk for now

Great news 2 - My first baby officially left my body on my birthday, February 6, 2014. The ultrasound indicated that the baby was 6 weeks before it stopped growing :( I guess it is not that easy to deliver a baby successfully and raise your kid :(

Hopefully, something good will happen this year. I thought the first two good news of the year would make this year a big one for me. Maybe it would still be, it just not happens yet. Finger crossed. I am just waiting patiently. 4 more days and Trong will be back in my arms. I cannot wait to reunite after all these ups and downs >"<

New Year and Lots of News

Mon, 10 Feb 2014 04:30:43 +0100

01/21/2014

First entry of a new year - The Year of the Horse

Great news 1: I and Trong are happily in love. Trong is traveling home (Vietnam) for Tet but also to perform an important mission - propose our wedding to our parents.

Great news 2: I am having a 7-week-baby inside my tummy. Of course you know, Trong's child :)

Great news 3: With the new responsibility of taking care of another life inside myself, I have made a determination to make positive changes to my routine and diet.

Routinely:
1. Things to do in early morning
- 15 minutes of Yoga
- 15 minutes of Gratitude reflection
- 30 minutes scanning news

2. Things to do before going to bed
- 30 minutes of journal (self-reflection, what have I done, what have I learned, what do I want to accomplish this week)
- 30 minutes of Yoga

3. Things to do on weekends
- 1 hour of reading book
- Plan for next weekend
- Connect with friends and family

4. Family rituals I want to start:

Waiting

Sat, 14 Sep 2013 17:31:53 +0100

Okay, the worst thing about Yola is that it does not automatically save my draft. I poured my heart out on you and accidentally closed the tab. Now my heart-pouring thoughts are all gone!!!

Alright, the point is, I have been dating this guy for almost a month. But, according to him, our starting point was the first time he took me out to Guthrie theater, back in September (almost 9 months already) and our first date was the day he took me to his favorite get-away place in St. Paul back in January (almost 4 months already). I think that time is long enough for a guy to realize whether he wants to be with a girl or not. Yet, when I asked him where we are now, he gave me such a disappointing answer:
- We are on the way
- On the way? To what?
- To infinity (laugh)

Frankly, that answer disappointed me deeply. I know that I just got out of a relationship a month ago, and it is not like I want to jump right into another one, but I wish he would be able to show me some seriousness, an intention of commitment, of a long-term relationship than that BS answer. Probably I am thinking way too much, but seriously? If you are really not sure about whether you want to be with me or not, I am probably just not the right one for you. What can even be worse is that you know that I am not the one for you but you just want to string me along for a companion and sex. It hurt me so much just to think about those possibilities. I wish I could have acted more calmly and got my thoughts out to him in a clear manner. I was too emotional to talk and ended up bursting into tears. Now, he has gone for Boston. He is back today. I am not sure if he is back to Minneapolis yet. But it have been 4 days and he has not called or texted me at all. No sign of attempt to contact. Does he really string me along?

I believe we gonna end up talking about this anyway, at some points. I just do not know when he would reach out again or ever. I do not want to surrender and initiate the contact. It just made me feel bad about myself and feel bad being a chaser.

I thought we could have been something serious, something real, something official... I guess I need to keep my patience and see what the universe has in plan for me :|

Will keep you updated...

-----------------
Updated on May 13

I knew I went crazy last time. Turned out everything was not as bad as I imagined. He surprised me by coming to the PlaySensation thing for my Toy Designing Class last Wednesday. We got things sorted out after I poured out all my frustrated thoughts and pressed him for a definite answer. He still could not admit verbally that I am his girlfriend. Instead, he kept pressing me what he is to me. Of course, as a stubborn girl who refused to be the first one to admit love, I did not respond. We agreed that we were a couple and things are getting serious between us. I have been with him every day until today (Monday). Things are going well :)

Will keep you updated ...

------
Updated on June 10

Things have been quite great since my last update. We hit some bumps when I found some of his ex's personal items around the house and realized that his last sex with her was probably just around the end of last year, not too long at all before he took me over his house... I probably think too much but since it is the past, I will try to forget it.

After coming back from the trip with my parents, I have spent every day with him. I dont know why I still have some doubts, probably because of the secretive way he acts sometimes, his high sense of privacy (well, I understand I should not try to explore every part of him, so I will try to take it easy for now). June 6 should be marked as a special day as it was the first day we both reached climax, pretty awesome night:) I just hope there would be a bit more sweeter and romantic gestures towards me... Let's see how things progress.

----
Update on September 14

Quite a lot of things happened. I cant believe it has been three months since I updated you with my progress with him. I found out he was cheating on another girl with me for the entire time from March to beginning of July. July 3rd, we were officially bf and gf. He cut out all his communication with the girl in July and sent her a final message to her on August 11 to let her know they are officially off. However, I and he have undergone lots of bumps since I found out about the girl. All the trust was shaken. I am insecure most of the time. We fight, I cry, he gets mad. I just feel things are so unstable between us.

He changed a lot, but why still I do not feel the love and care that makes me feel warm and happy? I just met his parents two days ago. They flied out to Puerto Rico this morning. I drove them to the airport. I wished he could be considerate enough to text me something. He might not even feel worried about my first time driving in the dark. I am just upset. I guess I am too used to my ex-boyfriend's way of showing love and to be honest, I love his way and want to be continued to be loved that way. I know that is so selfish of me. I should accept my boyfriend for the way he is. Yet I cannot help missing the love and care I used to receive. What a dilemma! Am I with the right guy?

Interesting photography series

Sun, 07 Apr 2013 06:00:16 +0100

1. Fallen Princesses:

http://fallenprincesses.com/mobile/?page_id=6

2.

My favorite scenes in movies

Sat, 06 Apr 2013 04:42:02 +0100

http://25.media.tumblr.com/da889a65a80c56146e7fee705734dbaf/tumblr_mh5kotr5zX1s1v24vo1_500.gif

Useful links for searching houses

Thu, 21 Mar 2013 21:17:49 +0100

Review of Neighborhoods
1. http://money.cnn.com/magazines/moneymag/best-places/2012/top25s/qualitylife/hottest.html
2. http://www.bestplaces.net
3. http://www.areavibes.com

Apartment Search:
1. http://www.zillow.com
2. http://www.apartmentfinder.com
3. http://www.mynewplace.com
4. http://minneapolis-st-paul.apartmenthomeliving.com
5. http://mapliv.com
6. http://hotpads.com
7. http://www.apartmentguide.com