How to be an entrepreneur?
-
Originally posted by Pat Goh:
An interesting topic which many would like to know.
I dont know whether can all business man be called entrepreneur. I think an entrepreneur is born and not made.
One must have certain traits, mentality and character to become a successful businessman.
To start a business is not easy and to sustain the business is even more difficult.
The first requirement is that one has to have the burning desire to do business and not afraid to fail.
olden days, one can be not afraid to fail but nowadays, once you fail it is very difficult to start all over again. in fact, i am going into the business which i can afford to fail because i do not want to be in debt.
1st setup is very important, if fail, it will be very demoralising. thus, i must be at least 70% confidence. i almost given up.
too much restrictions in shopping malls. i can't sell anything i want as they do not permit repeated trade. those which are saleable are all taken up by the big players. shopping malls also give priority to big players because they are councious of their image. we late comers have very little chance.
-
Originally posted by Fairyfairy86:
wow! you must be very rich! in the olden days, there were people who started with nothing, working smart and hard to become millionaire. nowadays, how to start with nothing ?
You can create something out of nothing, whatever your means. Intellectual property can be created out of thin air; no cash involved. Code of a proprietary software can be the basis of a company that takes in seed funding at $1 million pre-money valuation (cf. Bill Gates, Larry Page, Sergey Brin, Mark Zuckerberg, Larry Ellison, etc.). Stories and fictional ideas can be the basis of a best-selling novel (cf. JK Rowling, Dan Brown, Isaac Asimov, etc.).
In fact, I contend that today the cost and information barriers of starting a business is actually lower than in the past. The internet is the magic enabler; leverage on it, but don't be a loser who tries to make money from putting Google AdSense on your blog, setting up a blogshop or making a highly-duplicable portal/platform/forum to connect a [party A] and [party B], who have trouble accessing each other. You cannot diversify your way to wealth by seeing your online blog as an additional revenue stream.
Invest your time and learn to code if you're intelligent; the rewards are much bigger. Take note of research/patent areas with significant activity in them, examine the state of the art and then build your own proprietary algorithm or process flow. Then identify a lucrative market, develop a minimum viable solution with the resultant technology and push forth your value proposition. Reiterate and acquire customer feedback, both qualitative and metric-based (e.g. obtained through A/B split-testing) feedback.
What I have just said can be considered entrepreneurship, even by the strictest standards. Replicating tried-and-tested product offerings and business models is NOT entrepreneurship; it's a money-making technique that merely reduces the market risk, because the market is proven and demonstrated. Entrepreneurship is about vision and innovation, tackling either known problems with unknown solutions or unknown problems with unknown solutions. Entrepreneurship is a whole culture, a movement, not some money-making gig.
While entrepreneurship cannot be taught, it can be learnt through a fundamental paradigm shift. That would mean some major epiphanic moment that causes you to see things totally differently than before, either through some intense experience or serendipity (unlikely). That means constantly trying, on a daily and even hourly basis, to convert what your non-comfort zones are into comfort zones by just immersing yourself in your non-comfort zones as a habit. You cannot psycho and motivate yourself into becoming an entrepreneur -- no matter how determined you are -- if the lens through which you look at the world is fundamentally flawed and incongruent with entrepreneurial principles.
This is the part where most people stumble because they do not have the strength of character to constantly torture themselves and sacrifice social time for personal development. The bigger problem, though, is that most people are complacent: they think they're good/smart/worldly enough already, an arrogance developed from cocooning themselves in their comfort zones all the time. It takes an immense paradigm shift for one, at the risk of developing severe self-esteem issues, to honestly think that they are stupid and still have a lot to learn after getting their BBA, MBA, PhD, LLB, BEng, BSc, BA, MBBS, etc.
The clock is ticking. Every lost second translates to a second unmonetised. My advice to budding entrepreneurs, coming from someone who is also struggling his way through an entrepreneurial journey, is to just get your hands dirty: talk to real entrepreneurs, try to build something cool and then approach customers/investors with the "something" that you created out of "nothing".
-
Waaaaaaaa....
Retarded Moron.....
T.T
I cry....
I will bookmark this page and refer to it often......
Thank you, Retarded Moron.
-
lol
-
Earning from adsense is not entrepreneurship I agree.
But I'm the loser who tries to earn from adsense :(
Why? Because I don't care whether it is being a loser a not... I write to help myself think clearer in my actions, and my adsense is just a supplement... I mean... 40USD for this month of March so far isn't a lot, but still enough for some extra coffee. -
Originally posted by Fairyfairy86:
olden days, one can be not afraid to fail but nowadays, once you fail it is very difficult to start all over again. in fact, i am going into the business which i can afford to fail because i do not want to be in debt.
1st setup is very important, if fail, it will be very demoralising. thus, i must be at least 70% confidence. i almost given up.
too much restrictions in shopping malls. i can't sell anything i want as they do not permit repeated trade. those which are saleable are all taken up by the big players. shopping malls also give priority to big players because they are councious of their image. we late comers have very little chance.
Yeah, it is good to be prudent. For retail business, the location is very important, then the product range to meet the needs of customers' profile frequenting the shopping mall. -
Originally posted by Fairyfairy86:
are you a in business now? may be you are rich. people like me who wish to start a small f&b business is facing one major problem, the rental is enough to kill. one small space about 130 sqft in neighbourhood shopping mall is about $8000 per month.
have problem in starting one business, talk less about multiple. may be you can share with me if i wish to go into f&b business (takeaway type). what do you suggest to sell ? i start a business with the mentality that i can afford to fail. do you think is the correct mentality ?
rooney, what business do you wish to do ? can share with us ?
I'm not in any business at the moment. But if you really want to do business, it is most profitable selling things that are expendable such as consumables. One good place to look for the item would be in your home.
And who says you must rent a shop to start a business? How come you cannot invest the money meant for rental on TV advertising?
If you think f&b is going to fail and you have no confidence in making it a success, then why must you insist on doing f&b business?
The difference between a successful business person and an unsuccessful business person is their mindset. If you are stubborn and inflexible to adapt to your current situation and environment in the marketplace, do you think you are going to be the successful or unsuccessful business person?
The important keypoint to success is to NOT and NEVER focus and dwell upon your obstacles. You should be focusing on how big you expect your business to grow, and the rest of the plans will fall into places.
And don't come tell me it cannot be done, because many people has done it already. The only thing that cannot be done is you, yourself. You cannot make yourself into a successful business person if you think it cannot be done.
Oh...and do it yourself, don't beg for partners if you are looking to succeed. Cos there can really be one king, one dictator, one champion. Anything that is formed by ONE is most likely to succeed.
-
How come nobody said this yet....
The most important thing is actually...
Connection.
With connection, you can be anything.
Connection is the net which help you when you fall down.
Connection is the one which put you in high places and overtake others with the same capabilty as you.
Connection is the one which opens door.
So, to conclude and exapand on this idea.....I would say...the greatest way to achieve this method is by......yes, marriage...
Since you cannot choose your parents, you can only choose your spouse.
So, for all young men out there, go seduce a rich man's daughter.
Once you get married to a rich man's daughter, waaa.......how many steps have you jumped?
-
Originally posted by Veggie Bao:
How come nobody said this yet....
The most important thing is actually...
Connection.
With connection, you can be anything.
Connection is the net which help you when you fall down.
Connection is the one which put you in high places and overtake others with the same capabilty as you.
Connection is the one which opens door.
So, to conclude and exapand on this idea.....I would say...the greatest way to achieve this method is by......yes, marriage...
Since you cannot choose your parents, you can only choose your spouse.
So, for all young men out there, go seduce a rich man's daughter.
Once you get married to a rich man's daughter, waaa.......how many steps have you jumped?
Yes yes...connection is when you expect people you don't really know well, to help you out unconditionally on your way to success in your business.Please tell us why your connections must help you when you're not successful?
You sleep with them is it? Or you wait upon them with your legs wide open? (Taken from Penelope Cruz in NINE movie)
Even if you marry a rich girl, her wealth will still not fall upon you cos you're still not blood-related.
Movies and realities are different. Movies censored out all the cruel facts of realities so that naive viewers don't grow up with shattered dreams.
-
Originally posted by RETARDED_MORON:
Glad to read it anytime. PM me, thanks.
eagle, send me too. Am glad to read smthing to build Passive income .. thksRetard_morom: If can, PM me on wot ur doing to build a biz too, thks :)
-
Originally posted by RETARDED_MORON:
Glad to read it anytime. PM me, thanks.
dbl post .... -
Originally posted by RETARDED_MORON:
Glad to read it anytime. PM me, thanks.
sorry dbl post -
Originally posted by Veggie Bao:
How come nobody said this yet....
The most important thing is actually...
Connection.
With connection, you can be anything.
Connection is the net which help you when you fall down.
Connection is the one which put you in high places and overtake others with the same capabilty as you.
Connection is the one which opens door.
So, to conclude and exapand on this idea.....I would say...the greatest way to achieve this method is by......yes, marriage...
Since you cannot choose your parents, you can only choose your spouse.
So, for all young men out there, go seduce a rich man's daughter.
Once you get married to a rich man's daughter, waaa.......how many steps have you jumped?
Cannot depend on connection. The real entrepreneur doesnt depend on connection. Many start out from scratch -"White hand up family" If one has the thinking of depending on others to help him build his business, then he is bound to be disappointed. Connection wont last. Because business people are not stupid, unless you are useful and can be made use of all the times, once you are of no value to him, out you go. -
Originally posted by parn:
-------------------------------------------------------------- Depends. consumables and whatever you have in your home already have businesses supplying. There are already so many competiters around. How to get people to buy from you rather than the present suppliers is the challenge you need to take. ================================================================
I'm not in any business at the moment. But if you really want to do business, it is most profitable selling things that are expendable such as consumables. One good place to look for the item would be in your home.The difference between a successful business person and an unsuccessful business person is their mindset. If you are stubborn and inflexible to adapt to your current situation and environment in the marketplace, do you think you are going to be the successful or unsuccessful business person?
The important keypoint to success is to NOT and NEVER focus and dwell upon your obstacles. You should be focusing on how big you expect your business to grow, and the rest of the plans will fall into places.
------------------------------ Not that simple. There are many factors that determine whether a business can be successful or not. Some are internal factors, which are easier to manage. The worst are external factors which are beyong control. Many a times, successful businesses are killed by competitors and change of circumstances. ==========================================================================And don't come tell me it cannot be done, because many people has done it already. The only thing that cannot be done is you, yourself. You cannot make yourself into a successful business person if you think it cannot be done.
Oh...and do it yourself, don't beg for partners if you are looking to succeed. Cos there can really be one king, one dictator, one champion. Anything that is formed by ONE is most likely to succeed.
------------------------------------------------- Yes, agree with you on this. -
i have seen many shops with few customers. my friends and i wonder how they survive. any idea ? the rental is at least $8000 - $10 000 per month.
-
Originally posted by Fairyfairy86:
i have seen many shops with few customers. my friends and i wonder how they survive. any idea ? the rental is at least $8000 - $10 000 per month.
Just means that they're operating at a loss; probably burning up their paid-up capital or retained profits.
-
Everyday I am thinking how to seduce rich man's daughter, to become a better entrepreneur.
-
Originally posted by Veggie Bao:
Everyday I am thinking how to seduce rich man's daughter, to become a better entrepreneur.
you do not understand human nature well enough. i will not say my father is a rich man but he has enough money to buy for me and my brother a condo each. he said he will put under our names after we are married. however, there are conditions, we cannot put the house under our spouse's name. this is because the divorce rate in singapore is too high, in case we divorce, half of the property will go to the spouse,he is doing this to protect our interest. he will ask for 10 good reasons if we want to get an extra dollar from him.
i wonder what our future spouse will think if we tell them we can't add in their names as the owner of the house. what will you say if your future wife tells you about this ?
please don't comment on my father, only i am allowed to comment.
-
my dad give me a landed property and a business in joo chiat to take care of, it makes me from being a lovely nice nice gal to a very strong headed career gal, end up no men like me leh,..so how, blame who, ah pa or money or career??
-
Originally posted by Fairyfairy86:
you do not understand human nature well enough. i will not say my father is a rich man but he has enough money to buy for me and my brother a condo each. he said he will put under our names after we are married. however, there are conditions, we cannot put the house under our spouse's name. this is because the divorce rate in singapore is too high, in case we divorce, half of the property will go to the spouse,he is doing this to protect our interest. he will ask for 10 good reasons if we want to get an extra dollar from him.
i wonder what our future spouse will think if we tell them we can't add in their names as the owner of the house. what will you say if your future wife tells you about this ?
please don't comment on my father, only i am allowed to comment.
U can always do a pre-nup agreement u know. So at least ur current property before your marriage will remain yours in an event both parties seek a divorce. But only property after marriage can be considered.
If my future wife tells me this, then I just buy own house n put under my own name. And if issue of trust cant even be resolved, then might as well divorce, or just treat her as the big wife while u have small wife. Wonder whats the point of marriage under that context. hahaha
When it comes to family law, when it comes to matrimonial assets and custody... it gets messy... messy and complicated. lol
-
Originally posted by angel7030:
my dad give me a landed property and a business in joo chiat to take care of, it makes me from being a lovely nice nice gal to a very strong headed career gal, end up no men like me leh,..so how, blame who, ah pa or money or career??
No men like you must got reason. If ended up NO men like u, you must have a really really REALLY big problem.
lol
So bad.. that even those guys that are on a mission to cheat, use or be with a woman with money and capabilities to make money doesnt even fancy u.. then it must be some really really really big problem somewhere.
I can only imagine. lool
-
Hi eagle, can you send me your financial blog? would like to read smthing to build Passive income... or at least learn something...
-
Originally posted by angel7030:
my dad give me a landed property and a business in joo chiat to take care of, it makes me from being a lovely nice nice gal to a very strong headed career gal, end up no men like me leh,..so how, blame who, ah pa or money or career??
They're not avoiding you because you have a business. They're avoiding you because they think you are a mamasan and they think you are complicated.
-
So many rich people displaying their wealth in here, how come they are not afraid of being kidnapped, kept in a basement dungeon and sexually abused for days?
Evil people don't really want money for ransom, some monsters just need to feed their diminished ego by proving they are sexually superior by assaulting girls beyond their reach.
-
Originally posted by Fairyfairy86:
i have seen many shops with few customers. my friends and i wonder how they survive. any idea ? the rental is at least $8000 - $10 000 per month.
Ya I wonder too.
But doesn't matter. If they fail, the money (rental) still goes, and eventually, a wee tiny bit still makes itself into my pocket via REITs.