Sunday, February 27, 2011

ITE Entrepreneurship Forum

Through Sophee of SingYouth Hub, I was given the fortune to attend the ITE Entrepreneurship Forum.

There I met Mr Ong Tze Boon, MD of Ong & Ong Pte Ltd and Mr Clinton Ang, MD of Corner Stone and Hock Tong Bee Pte Ltd.

These are my key takeaways from the two charismatic, entrepreneurial, family business leaders.
1. Perceive and Be Aware
Change is right in front of you, you see it but most of us choose not to see or act on it.
- You think you know whats going on, but you were never quite aware of whats happening.
- Its easy to miss something you're not looking for

2. Entrepreneurship lessons
a. Business strategy -> Foresight & Awareness
b. Business scale -> (i) Increase competition, (ii) Competitive fees, (iii) Improve productivity and (iv) External offerings
c. Business structure -> (i) Reward performers, (2) Don't concession non-performers

3. Institutionalization of your business
The success of an entrepreneur is truly based on his ability to build an effective system that minimizes the need of investing personal attention to the business.

4. The key to success is to:
a. Admit your failure and cut losses
b. Maximize success, minimize failures

5. To ignite corporate change
It has to start from Bottom-up and Top-down
- Identify those who believes in you and plant them into each department to start the Bottom-up process

No comments:

Post a Comment