Archive for the 'Entrepreneurship' Category

Feb 12 2013

One-Year Diploma In Startup Business

Published by under Entrepreneurship,Ideas,Training

Are you a school leaver and you have a great business or social business idea to conquer the world?

Consider this practical one-year program to learn just enough in order to start your venture right away.

The intensive course consists of four semesters of 3 months each. In each semester (12 weeks), you are to take 4 modules, each from every area below.

Business (core business knowledge you need to know) – Entrepreneurship, Business Management, Business Strategy, Legal Issues.

Soft Skills (important personal skills in business) – Business Communication, Presentation, Negotiation, Leadership.

Practical (contemporary practices to turn your idea into reality) – Effectuation, Lean Startup, Business Model, Prototyping.

Specialist Area (majoring in certain aspect of business) - Choose one track below:

  • Finance Track - Accounting, Financial Management, Fund Raising, Valuation.
  • Marketing Track - Product Development, Selling, Marketing, Internet Marketing.
  • Technology Track - Programming, Web Development, Mobile Development, Server Administration.
  • General Track - Any 4 modules from tracks above.

Isn’t this what startup entrepreneurs need for a good head start in business? Are you not interested?

One response so far

Jan 07 2013

14 Key Failure Factors For Entrepreneurs

Here are the 14 key failure factors (KFFs) in entrepreneurship according to the unusual but great book called The Little Black Book of Entrepreneurship by Fernando Trias De Bes.

Regarding the entrepreneur:

  1. Starting a business with a motive, but without motivation
  2. Not being a true entrepreneur at heart
  3. Not being a fighter; lacking a competitive nature

Regarding partners:

  1. Depending on partners when you can really do without them
  2. Choosing partners without ensuring that they are really compatible with you
  3. Giving equal reward for unequal contributions
  4. Not having trust and communication among the partners

Regarding the business idea:

  1. Believing success hinges on the idea
  2. Entering sectors you don’t like or don’t know anything about
  3. Picking unprofitable or stagnant economic sectors

Regarding the entrepreneur’s family situation:

  1. Allowing your family’s needs and your material ambitions to be dependent on your business’ success
  2. Becoming an entrepreneur without acknowledging how it will affect the balance in one’s life

Regarding managing growth:

  1. Creating and sticking with business models that do not generate profits quickly and sustainably
  2. Not knowing when to quit

I’ll be sharing this book in a few book sharing meetups. Let’s meet and share thoughts with one another!

No responses yet

Aug 07 2012

Stephanie Lai’s Business & Life Journey

Born and grown up in Ipoh, Ms Stephanie Lai dropped out of college and started to work in an international bank as receptionist at the age of 19. One day, she saw a good opportunity to be promoted to a marketing position. However, her application was denied because an applicant needed to have worked for at least five years in three different departments before being eligible to apply. The job then went to a colleague..

The colleague did not stay on long at the new job. The position was opened up again and Stephanie tried to apply for the second time. Thanks to her diligence and resourcefulness, this time she managed to get it. Although she had to accept the job without a formal promotion and a pay rise, she went for it as she just wanted to learn new things. In the eight years that followed, she had dealt with corporate figures like C-level executives and financial controllers and gained much exposures. On the fifth year, she was formally promoted.

After over a decade in the bank, Stephanie left and started her own Kumon centre in Sunway in 1997. In the beginning, she employed no staff but learned up to do every aspect of the business herself. Unlike other Kumon centres, her centre was open for only two days a week. Why waste costs like electricity when all students could be made to come on two days only? Later, she started to hire staffs including her younger brother. In 2005, her brother took over the business as she moved on to AsiaWorks Training.

Stephanie then spent one and half year in AsiaWorks and laid down its basic training ground work. Afterwards, she got herself certified in business coaching from Brad Sugars’ company ActionCOACH in Las Vegas. She took up the franchise and became a business coach in Malaysia. She started coaching business owners in individual and group coaching to help them succeed in their business.

In 2008, she took up another opportunity to work with an investment company from Europe. However, she got embroiled in legal disputes later when the company’s CEO was charged for criminal breach of trust. A period of setback started as she spent much time and money fighting for her innocence.

During this period from 2008 to 2010, her beloved father passed away. These incidences had given her a double blow. But it was during this time that she took many effective actions to take up certifications she is using today, including neuro-lingustic programming (NLP), hypnotherapy and training. In particular, she decided to become a certified trainer as many clients saw her potentials in training and she kept receiving suggestions for training.

Meeting with Stephanie Lai

In 2010, Stephanie started her training company. She got only two clients in the first year and less than 10 clients in the second year. However, in 2012, a break came when suddenly she received many requests for training. Up to August 2012, her client base has grown to over 10 companies.

Today, Stephanie is known as an entrepreneur who picked herself up from the ashes and as an upcoming trainer specializing in soft skills in the training industry. Besides, she provides services as a hypnotherapist in a clinic. She also acts as consultant to European companies in their business expansion into this country and region, and helps matchmake them with local companies and business people.

As the eldest daughter with two younger brothers, Stephanie was deeply influenced by her late father. Her father came from a poor family whose mother died at a young age. Since childhood, he had been tortured and mistreated by his step-mother. However, he did not complain but lived on forbearing all hardships. He knew he owned nothing but the ability to think. He clung on the principle of endurance or forbearance (Chinese: 忍), which later brought success in his life and left a legacy to his children including Stephanie.

At the age of six, instead of accepting his fate, Stephanie’s father decided to change his own course of life. He earned for himself to enter into Standard One in a primary school by working on the street. He sustained his education by successfully negotiating with the headmaster to work for the school. He worked his way up and finally got himself a degree in computer engineering from Australia in those nascent years of computer in the 1960′s. His various achievements included programming and engineering the whole ticketing and communications system connecting the turf clubs in Malaysia at that time. Today, his story has been told in Stephanie’s training course called “Dare To Be Great”, moving and motivating many people including insurance professionals in Million Dollar Round Table (MDRT).

Ms Stephanie’s first advice to budding entrepreneurs is to turn ideas into actions, instead of just talking about them all the time and suffering from “analysis paralysis”. On top of that, her father’s principle of endurance to suffer all difficulties, accept all good and bad in any given situation, take ownership of one’s own problems instead of blaming other people or the environment. The principle works not only in business, but in life too.

No responses yet

Feb 26 2012

Some Ideas On Developing Entrepreneurs

Published by under Entrepreneurship,Ideas

Nowadays there are many free talks and seminars out there on doing business and entrepreneurship.  But many organizations are already doing these.  If we were to encourage entrepreneurship, why do we need to duplicate what others have done?  How do we differentiate our efforts from those of others?

After all, not everyone learns to be entrepreneur by just listening to talks. No doubt, such events also provide a networking opportunity.  But such platforms are better suited for those who are more sociable. How about others who are poorer in social skills?  Do such events help much in developing their social network?

To better develop entrepreneurship among the common folks, how about trying different ways besides talks, seminars and conferences?  Even small group sharing by entrepreneurs can have a bigger impact on individuals. Yes, less number of people, but higher impact on individuals.

How about having some kind of mastermind groups or buddy system where pairs or small groups meet regularly? Each person can share his or her own plan or progress in business, and be made accountable to other group members.  Then everyone can provide inputs and feedback on how the business can be improved.  Individualized development and action-based, isn’t it?

If possible, how about some mentoring system where each experienced entrepreneur mentors a small group?  The group can work as mastermind group above, with the mentor providing experience sharing.

To make more widespread impact, how about we cast our vision to others around the nation and mobilize them to duplicate the same thing in their own place?  This is akin to Toastmasters and BarCamp where each club or location does the same thing but in multiple locations to make an impact to more people instead of people at just one place.

By the way, how about setting up a mini public library with books on business, management, entrepreneurship, self-development and soft skills etc, and let budding entrepreneurs borrow and read the books?

What other ideas have you got?

One response so far

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