I actaully typed out an entry halfway but I can't find it :( So i'll just retype since I'm owing an entry (entries?).
As everyone in this class (should) rememebers, we had some entrepreneurs come down 2 lessons back. Here is what I think of some of them.
Singaporebrides - Okie, not to be rude, but when I first heard the name, I thought it sounded like some mail order bride service xD I mean, when you give a location, followed by an object, it gives the impression that you are selling that item, from that place, i.e. named after the products. I don't know any other instances where the company is named after their target customers. Visiting the site, I can't believe it succeeded. But obviously, it works. Maybe it's because they had a first mover advantage. Granted, it is impressive since it's hard to get people to list on an unknown site, and it was probably due to the fact they recognized the need to provide something else in addition that they succeeded. That is, the free website (although, hmm... did they charge less than what it usually costs to get a professional to make a website?). But I don't think they have any serious external threat (though ofc they should not rest on their laurels).
Hungrygowhere - Love the name. It immediately tells you what the site is for, it's easy to remember. Also sounds rather colloquial, so it feels more personal, and that definitely makes the general public feel at ease and draws them to the site. Yet the site also looks nice, polished (ofc). I think it was very funny the guy side they were media whores since it is free publicity. Probably also lends them credibility, gains more acceptance. Would be nice if it had links to utube videos or something.
School of Thought - I love reading Broader Perspectives xD I always borrow my younger sister's copy from school! I think this was the most heartwarming piece made. I was a bit skeptical at first, but hey, it's benefits are undeniable. And I do want to believe there are such awesome people out there. I liked the point about CCAs. It is definitely true that CCAs such as sports tend to be more popular even though people don't end up pursuing it in the future. Why are more usefull CCAs like Byte Club or AVA not more popular? Why is there a sterotype? Wish it was elaborated more. I mean, I don't see a problem with that from the individual's POV even if it is an interesting observation :P Someone likes running, someone likes dancing; they don't have to do that professionally. It can be just something they do outside of their job. I think even if we enjoy what we do at work, it's nice to have something else to go back to. I don't think someone who truly enjoys something would be deterred from pursuing it just because it doesn't seem "cool". For the majority, they choose what is more "prestigious" because they don't know what they want. Maybe it's not sports. Doesn't mean it'll be AVA. So what if it's likely to be "useful" if isn't what they'll necessarily enjoy?
Turbanizer - So, it wasn't all about Turbanizer, but I really thoguht the Turbanizer was awesome. It's fun and really cool. Gosh, stuff like that is what I'd like to come up with, people who come up with that are people I'm quite sure I'd love to work with in the future. I mean, this could be CBU and still pretty neat, but wow, to sell turbans? Very smart and creative. People will spread it for you, since they get an interesting output to s
hare. It makes buying a turban so cool, and builds an attachment. Though some Sikhs may find it a bit offensive that other people may treat turbans like a joke. Though I like this line: "If someone insults your turban, just TURBANIZE THEM!" It's like turning them into one of you :P Which makes it less so, i.e. instead of being insulting, it seems to instead re-frame it to be that wearing turbans are cool, so everyone wants to. I'd say more, but I gotta rush back to class.
Byeee
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Mm I remember something being said about over-encouraging startups in Singapore and how so many fail. Well, I honestly don't think they care. Strength in numbers! The more people try, the more will succeed (and fail). But no one cares about those who fail! It's easy to encourage, it's just hard being the one taking the risk and failing. Like how it's easy to say Harvard:number, Singapore:number, please remember me if you succeed xD (I'm jesting)
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The more people try, the more will succeed (and fail).
ReplyDeleteEntrepreneurship is not a numbers game; it's a quality game. We're sending a lot of lemmings to their demise.
Like how it's easy to say Harvard:number, Singapore:number, please remember me if you succeed xD (I'm jesting)
I caught that. :-P
yeah, they are sending a lot of people to their demise, but I really don't think they care much for now.
ReplyDeleteI really don't think they care much for now.
ReplyDeleteWho's "they"? :-)
Had some specific people in mind then, but now I've thought about it, I guess it's a majority of people living here. Good if they succeed, if they don't, oh, they should have known their limits, get a decent job, why do they want to be their own boss, blabla. At least, I think that's what people think :P Not that I agree. B/c unless these failures are directly framed to affect the population/individuals negatively, and unless they are constantly aware of the fact, they won't care. Then again many people don't really care about the general state of affairs here in the first place, what more this?
ReplyDeleteSeriously though, there are some people you want to support b/c it seems like their proposal will work, some you won't want to support because their proposal won't work. And who is to discourage people who seem like they have a slim chance of succeeding if it falls into the latter (perhaps people concerned about them)? Why would you? Since for many people, once they have an idea in their head, they'll think it's the most awesome. So just push the idea to all (and additionally support only if it's really awesome). From there, you may even get the next sgbrides.
And who is to discourage people who seem like they have a slim chance of succeeding if it falls into the latter (perhaps people concerned about them)?
ReplyDeleteI guess the kaypohs who care loh. And the truth is this, those who are easily dissuaded are not cut out to be entrepreneurs to begin with and are better off quitting early, so I doubt much damage will be done.
Why would you?
'cos I'm a prof and I need to earn my pay? :-)
Since for many people, once they have an idea in their head, they'll think it's the most awesome.
So my job is to hammer them until either they realize their idea is crap and look for another one; or basically figure out how to defend their idea so well that it actually has an chance to succeed. :-)
Tbh, I wouldn't say those who are easily dissuaded aren't cut out for it. In Singapore, most people are too reluctant to leave their normal, stable jobs and start their own when they have an idea. Those who have taken the first step are already better off. It's like a general mindset to fear stepping out because of the way people have been brought up. There are tons of diamonds in the rough there. All they need is someone to polish away their fears and they can probably succeed fine on their own.
ReplyDeleteBut what I meant when I said to "discourage" is actually with regards to disillusioned people who do not have winning ideas. People they pitch their ideas to will probably just say whether they are on board or not - it's not within their interests to actually tell them it's a horrible idea. Even if they do, will the enthusiastic hopefuls listen? However, in such a case, if the idea is unlikely to succeed, and someone tells them that, which they accept and hence give up the idea, I wouldn't say they aren't cut out to be entrepreneurs. If you tell a student their idea is crap and they give up, does that make them failures as entrepreneurs for wisely recognizing the fact? It's very hard to acknowledge that something you have poured effort into is crap. It would be foolish to continue in some cases just to prove it could work. Rather, these people will move on to other ideas. They aren't discouraged.
Those who have taken the first step are already better off.
ReplyDeleteTaking the first step is not good enough. If they don't have want it takes to see it through, they are wasting time and are better off just sticking with their jobs and staying as workers. Being a worker is not necessary a bad thing. It pays the bills. :-)
will the enthusiastic hopefuls listen?
Sometimes it's good not to listen. If Chin Leng came to me and told me about his idea SingaporeBrides idea when he first started, I would definitely have dissuaded him. Then again, some ideas are *really* stupid and ridiculous. If these folks don't listen, they are welcome to dig their own grave ... but it's not really a problem either, 'cos the really resilient ones will somehow survive.
It's very hard to acknowledge that something you have poured effort into is crap ... Rather, these people will move on to other ideas. They aren't discouraged.
Precisely. That's why an open and agile mind is important and not many are cut out to be entreprenuers. :-)
Ah ya, I didn't express myself clearly enough. The first step is definitely not enough. But the first step is often hardest to take, and it is a step :P
ReplyDeleteFor SingaporeBrides, it's not really the idea but how the founder actually got about doing it then left me going :O I wouldn't have discouraged him, but asked him to re-think his implementation/execution. Nevertheless, he had fortune (perhaps, since I don't know the full story). Resilience is definitely not enough to survive most of the time.
*not that I am saying we all need to be entrepreneurs. There needs to be balance, and it's all up to the individual's preference. I simply mean that people with brilliant ideas hold themselves back more often than not because the generally shaped mindset.
ReplyDeleteI simply mean that people with brilliant ideas hold themselves back more often than not because the generally shaped mindset.
ReplyDeleteHate to break your bubble. There are very few brilliant ideas. Most business plans don't actually work. The successful entrepreneurs typically succeed not because they have a brilliant idea, but because they are highly adaptable when they are on their feet. :-)
The amount is a relative thing la :P Maybe not brilliant though, but I'd still say there are unsurfaced great ideas out there. I think you still need an idea+implementation. Adaptability simply goes into the shaping of the initial idea or results in a whole new one. I don't think many people (or anyone, really) end up performing exactly as their initial idea envisioned. Some will end up better, some worse; there is always some form or attempt at adaptation. Naturally, success (at adaptation) would be measured by how often one can fall into the former. So what I feel is that people who are successfully adapting are the ones more often coming up with winning ideas ultimately :P
ReplyDeleteAnd just because one has a bad business plan doesn't mean that the idea is bad. But a good business plan doesn't mean the idea is great. If the latter succeeds with an initially poor idea, then the idea must have been redefined.