Entrepreneurship and Innovation - Day 1

By Kwek Ping YONG, Inventis

  1. Motivations for start-up

    • Better opportunity
    • Chance to learn new skills
    • Control your own life
    • Be your own boss
    • Much more income
    • Personal achievement
    • Look for excitement
    • No other options
  2. Myths

  • You are your own boss
  • The earlier you start, the better - best when you are fresh out of school
  • I need a lot of money to start a business
  • Entrepreneurship is "Glamorous" "Fashion"
  • Entrepreneurship is a very high risk business
    Case study: Warby Parker[] vs. Luxxitica's Monopoly

Fund manager: charge 2% management fee
4.5B USD

Hedge fund/Mutual fund/Private raised fund


By David(Vice President of SingCham)

  1. Understand business market
    Niche and value add
    Product/Management/Shareholders

  2. Business mindset
    How to nurture Business Mindset

  • Mao Story(be open minded, humble, hungry)
  • President Suharto's Story(Net value)
  • INT-Q International Quotient Go beyond Singapore domain(social education)
  • KQ - Knowledge Quotient (Self taught Mechanism, Reading, Experience, Communication)
  • Must Understand Finance
  1. Macro Perspective of Company
  • P/L(income statement) = Health
  • Balance Sheet = Built/Size
  • Cash Flow = Blood

Homework: why startup fails?
http://oddle.me

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