I have accumulated some funds in Paypal account, from selling stuff in eBay and Yahoo Auction sites.

For us in Singapore, it is quite easy to transfer funds through one of the local bank, namely DBS, POSB, UOB or OCBC.

I have not tried foreign banks in Singapore, I think should be OK.

Before you initiating the transfer, do take note of the following:

1. Minimum withdrawal amount for Singapore Dollars is SG$15.

2. There is no withdrawals fee for SGD$200.00 but withdrawals fee for $199.99 or less is charge $1.00

3. The funds will be available in your local bank account between 5 to 7 business days, if there is not problem.

OK, I will show you the step by step to withdraw funds from Paypal account

First Step, you need to add a bank account information. Your local bank account must be a Singapore Dollars account. Enter your name exactly as it appears on your bank account statement.

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Popularity: 18% [?]

An article in New York Times, that online sales has dropped dramatically in diverse categories especially health and beauty products, computer peripherals and pet supplies. Other segments includes “appliances, sporting goods, auto parts, computer peripherals, and even music and videos” also slowing down.

Some example; eBay reported that revenue from Web site sales increased by just 1 percent in the first three months of this year compared with the same period last year.

Travel bookings from Expedia’s North American Web sites rose by only 1 percent in the first quarter of this year.

Dell revenue in the Americas (United States, Canada and Latin America) for the three months ended May 4 was $8.9 billion, or nearly unchanged from the same period last year.

The slowdown is a result of several reasons:

1) Consumers are changing their shopping habits and some customers like a more interactive experience and pleasurable.

2) Retailers have livened up their stores to be more alluring.

3) Sometimes, online shopping could be tedious, for example ensure websites has security features, follow-up on delivery, return policy, and so on.

If you’re doing online business, what need to be done to improve the situation?

Change Your Strategies

Some online shops, such as Borders, Best Buy, Sears and others, allow customers to reserve books online and pick them up in the store.

Barnes & Noble upgraded its website to include online book clubs, reader forums and interviews with authors.

However, an economics professor from the Haas School of Business at the University of California, Berkeley, John Morgan said :”He is expecting online commerce to continue to increase, partly because it remains less than 1 percent of the overall economy. There’s still a lot of head room for people to grow”

So, what do you think?

Read the full article here.

Popularity: 12% [?]

I just finished reading How I Made It

Many entrepreneurs do not want others to how they got rich or the secret of their success, much less telling people about their failures.

How I Made It reveals the successes as well as failures of 40 successful entrepreneurs as they are making more money and continue improve life of others.

In this book, 40 successful entrepreneurs telling how they see challenges and turn their dream into reality. They will shares what to do, how they got started, how they get funded and how they went about it.

Also, you will find how they wins business as well as lost their business.

I hope, this will inspire all of us and learn from them.

Lizzie Vann - Founder of Organix brands - create food for babies children
Personal philosophy: Live life in the present. And never forget that information is power. The power of information can change the world

Darren Richards - Founder of DatingDirect.com Britain’s largest dating services
Personal philosophy: You only get one crack at a big opportunity so make sure you recognize it and grab it with both hands.

Maria Kempinska - Founder of Jongleurs Comedy Clubs - Stand up comedy, Comedy clips, Comedy tickets
Walk regularly in your customer’s shoes

Mark Mills - Founder of Cardpoint, independent cash machine deployer
Personal philosophy: Give 100 percent to everything you do and never give up

Penny Streeter - Founder of Ambition 24 Hours
Personal philosophy: Take life one day at a time because everyday is a different day with new challenges

Derek Beevor - Founder of Road Tech Computer Systems
Personal philosophy: Nothing is impossible

Rosemary Conley
Inventor of Hip and Thigh Diet
Personal philosophy: Always have something to look forward to, someone to share it with and always try to make a difference

Raymond Gubbay
Founder of Raymond Gubbay Ltd - UK’s leading classical music promoter
Personal philosophy: I never forget that there are many more important things in the world than show business.

Trisha Mason
Founder of VEF
Personal philosophy: Life is about giving other people inspiration to do whatever they want to well. I like inspiring people to achieve things

John Mudd
Founder of Real Crisps Company - Hand Cooked Crisps
Personal philosophy: You have to be straight with people and your world has to be your bond

Mark Roy
Founder of Read Group
Personal philosophy: If you don’t ask the question, you don’t get

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Popularity: 16% [?]