Showing posts with label Entrepreneurship. Show all posts
Showing posts with label Entrepreneurship. Show all posts

Tuesday, November 12, 2013

Speech at Ngee Ann Polytechnic Book Prize Ceremony on 12th November 2013

What prompted you to take on this road (Of Social Entrepreneurship) very early in your career although you were trained to be accountant?

Like many social entrepreneurs, the reason why I started Envisage was a very personal one. Prior to starting Envisage, I was already heavily involved in social entrepreneurial projects through Enactus (Or formerly known as SIFE) for over 6 years. Discovering that I have the talent and ability to change people’s lives through the positive power of business in a much more sustainable way, truly inspired me to expand the possibilities of my own potential to be an individual of influence.

Nonetheless, it did not take me long before I realized that trying to change a world by my lonely self, was indeed too lofty a goal. I am but a man, with limitations no matter my past accomplisments. It was then that I thought to myself, “Why not attempt to motivate others to do the same? Was the responsibility of making a difference a job of my own?”

As such, I soon decided to shift myself away from being the person who does everything, and to instead learn to motivate others to be involved and empowered to effect positive change! The famous “fishing analogy” is rather fitting in this context and that’s what I am trying to achieve. If everyone strives to do something positive for their society, no matter how small the scale, we can all live in a better one.

Defining Success

Success, does this mean obtaining vast sums of wealth? Does it mean leaving behind a legacy? Or gaining the best academic results and achievements for one’s own personal prestige? Perhaps it is the tingling feeling one gets when he or she helps someone in whatever shape or form? The list goes on and that’s the wonderful thing.

Success can manifest itself in a myriad of shapes and forms. I have come to realize that the definition of “success” comes down to relativity and what one’s personal dreams and aspirations are.
If you haven’t put together a mental picture of how you endeavour your life to be, it is paramount that you take a step back and do some serious soul searching. You do not want to end up with a death-bed regret of living in someone else’s dream instead of yours.

Do not force yourself to live in other people’s measure of success. Instead decide for yourself, “What motivates you? What makes you tick? What makes you happy and satisfied?” For whatever you decide, someone will surely disagree with you. But have the confidence to realize that “It’s ok!” to think for yourself.

It can often be mistaken to assume that the CEO of a MNC has achieved more “success” over a worker at a barista or has done better than a social entrepreneur (wink wink). However, it would probably be a surprise to you that he might be much less satisfied than the common man. I have met many high achievers in life who quickly realize that after all the wealth they have accumulated; they have learnt a few lessons about themselves:

1. It was never about the wealth, as it will never “Be enough”
2. It was always about what they were truly passionate about that drove them to do soooo well it what they have set out to accomplish!

Many of you here are high achievers too, well, at least academically. I applaud you for that, and there is no shame to give yourself a pat on your back for what you have accomplished. But one must remember to not stick his or her head in the clouds for too long. There are those that you have relied on for you to get this far. Your parents, your lecturers, your friends and probably many others. It is through their fervent support that you have achieved so much, for no man is an island. Hence, do remember that when you get the chance, go to those who have helped you and Thank them for what they have done for you! Nonetheless, remember this life-long lesson that only after I’ve experienced countless set-backs to realize, “Being humble is not about making yourself lesser as an individual, but making things less about you.”

The Courage to Do it!

On the note of accomplishments. An extremely memorable advice given to me by my mentor, Jack Wang, an extremely successful entrepreneur, was this…. “Stanley, due to your courage to defy the impossible, you will soon realize that the entire universe will come together to conspire in helping you succeed.”
Back then when he first said this, my immediate reaction was “Why?!”

His answer was simple. “Just experience it and get back to me when you have found the answer.”

Remarkably, the answer quickly emerged within the first few months of my endeavours. It is in the midst of all the drama…

1. Attempting to reach out to 3 thousand youths in Singapore towards effecting social change over the last 3 years
2. Being selected to represent the youth voices in the Our Singapore Conversations
3. Nominated to represent Singapore in the 7th UNESCO youth forum in 2011

That I came to realize that despite my own constant feeling of inadequacy standing shoulder to shoulder with illustrious youth leaders from all over the world, or discussing national issues with ministers, did I discover that it was the mere “courage” to take on increasingly seemingly insurmountable challenges which allowed me to keep growing from both my failures and successes.

It was the courage to envision what our society should look like, and the greater courage to pursue that vision, as well as the radical enthusiasm I have in imparting my vision to others that I have managed to inspire many others to follow and serve the community in the way which I’ve attempted to.

So I come with this message, to ask you to keep the courage in your hearts alight.

Dare to dream big and have the guts to do what you have the passion and desire for.

As Plato once said “Courage is knowing what not to fear”. Fear not the possibilities of failing, instead focus on what you can achieve!

Thursday, September 5, 2013

IdeasInc StartUp2013! How Venture Capitalists value your business?

It has been 3 months since I have posted my reflections as I was really swamped with waves of challenges that kept hitting both Envisage and Collegify. I will perhaps share some of those in later posts so that aspiring entrepreneurs can learn from my pitfalls too, but well... That's just the common journey which all entrepreneurs have to face!

Nonetheless, I will like to share with you some key lessons learnt from the StartUp2013 conference which I just attended last Saturday @ *SCAPE!

As spoken by Mr Leslie Loh from Red Dot Ventures, how enterprises are valued by a Venture Capitalists are through the following elements:

1. Market validity of the product/services - If your product/services has a proven market segment with paying clients, then you will have a much stronger pitch. If you are simply still fondling with an idea or prototype with non-paying clients, your business is still too early for venture stage funding.

2. Maturity of founders or board members/advisers - The wisdom and expert knowledge/background of the founders/advisers matters. This provides the investors the confidence on the probability of success of your business. However, this might not be impeded by your age (If you are too young), what matters is that you show the level of maturity in understanding what will feasibly allow your business to succeed. But that being said, please do also retain your passion and idealism to succeed. (Perhaps a good mix of personalities displayed within your team will assist in portraying this to your investors)

3. Stage of the enterprise - A growth stage venture with proven track record will always garner a better deal than an earlier stage business. Hence, you have to be really realistic with your expectations on how you value your business. To put it simply, if you have a business with a proven revenue stream and working product that shows demand, you will definitely be able to negotiate for a better valuation. And that's what venture stage fund providers will be requiring.

In addition, you have to understand that return of investment expectations of VCs, are actually on the level of 10x to 30x. Hence, if you are unable to convince them of such profit potential, you will likely not be able to attract their investments. Thus, availability and growth plans beyond the shores of Singapore is critically important!

Alright guys, all the best to your enterprise journey! :)

Tuesday, May 14, 2013

*Scape presents 'Hear Me Out!' (In conjunction with Envisage's Gen.SEs workshops)

Thinking of starting your own Social Enterprise while attending our workshops? Need a place to pitch and get funds to kick start your business? Consider joining Hear Me Out - a pitching competition organised by *SCAPE! 

"Got a brilliant idea that is itching your brain? Tell us, we’re all ears!
No doubt, we have gaps in our society. The marginalised can definitely do more with our help. Like the saying goes – if not you, then who?
If you have an idea that can better the community, tell us, we can support you with seed funds of up to $7,000!"

Join us tomorrow at *SCAPE, 7:30pm, to find out more! (alternatively you can PM us for further inquiries)


Visit Gen.SEs FB for more information: http://www.facebook.com/EnvisageGen.SEs
Sign up for our FREE Social Entrepreneurship training at: Sign up here! 

Tuesday, May 7, 2013

UNITED NATIONS SYSTEM‐WIDE ACTION PLAN ON YOUTH

For all who might be interested about Youths-related issues, here is the survey results and action plan just recently shared with me by UN:

http://www.un.org/esa/socdev/unyin/documents/YouthSWAP/SWAPsurveyrespondants.pdf


Over 13,500 respondents from 186 countries participated in the survey. So it might provide you with some interesting perspectives on the variety of issues which are currently being discussed internationally.

Monday, May 6, 2013

Youth For Social Entrepreneurship Interview on Envisage

Heh all

Have you all visited this awesome blog "Youths For Social Entrepreneurship"?

They just wrote an awesomely comprehensive article about Envisage start-up journey, my personal views  on the landscape, and some tips I have for people who wish to start their own SEs. Link to article is provided below! Click it, Read it! It's long, but I believe you will learn a thing or two from it.

http://youthfse.com/2013/05/06/envisage-education-social-entrepreneurship-for-the-next-generation/

Some excerpts:


Here’s what he thinks:

- “Start small – don’t be afraid to start small, and don’t be afraid to fail. And when it fails – which it will, it definitely will, regular enterprises fail 90% of the time – you must create space for it, and not drag others down, especially your beneficiaries.”

- “Youth entrepreneurs must start somewhere. If they don’t start, they’ll never know whether it works, and if they don’t start, it will never happen, basically. Do a trial run, do research, see if there’s a market, do prototyping, have a great sensitivity of what’s happening…. Don’t just think about it, or you’ll never know whether it’ll work.”

- “Figure out who you want to help. You don’t start a social enterprise just because you feel like it.”

Thursday, March 21, 2013

Must everything be automated to build a scalable business? Well let Derek tell you his experience.

Must everything be automated to build a scalable business? Well let Derek tell you his experience.

How true that we are constantly advised to automate everything in tech. business so that it can scale. However, consumer appreciation of human interaction in the sales process should not be undermined.

Computers still lack the ability to listen and feel. And may for a while not be able to do so. Cheers! give it a read! Seriously...

http://sivers.org/hi

Monday, March 18, 2013

"Changing your operating systems!" - By Derek Sivers

Must read! Article written by one of the most inspiring speaker, writer and entrepreneur I've chanced upon...

http://sivers.org/os

Excellent article about "Changing your operating systems!" - Making deep changes in your life. 

Monday, August 13, 2012

Derek Sivers on "Pushing and Expanding your comfort zone."



Entrepreneur, programmer, avid student of life. I make useful things, and share what I learn.

Push, push, push. Expanding your comfort zone.

I’m 40 meters underwater. It’s getting cold and dark. It’s only the third dive in my life, but I’m taking the advanced training course, and the Caribbean teacher was a little reckless, dashing ahead, leaving me alone.
The next day I’m in a government office, answering an interview, raising my right hand, becoming a citizen of Dominica.
I’m in a Muslim Indian family’s house in Staten Island, washing my feet, with the Imam waiting for my conversion ceremony. Next week they will be my family in-law. The Muslim wedding will make her extended family happy. I’ve memorized the syllables I need to say. “Ash hadu alla ilaha illallah. Ash hadu anna muhammadar rasulullah.”
We’re on a rooftop in Rio de Janiero on New Year’s Eve, celebrating with some Brazilians we met the day before. Down below on the beach, a million people are wearing all white.
I’m alone on a bicycle in a forest in Sweden. I left from Stockholm 6 hours ago, headed south, with only 50 Krona, and I’m getting hungry. I don’t know the way back.
We’re in a filthy dorm-room apartment in Guilin, China, studying at the local university. At the local grocery store, we choose from a bin of live frogs.
The India Embassy official hands me a pseudo-passport that says I am now officially a “Person of Indian Origin” - a pseudo-citizen of India.
I’m the back of a truck in Cambodia, soaking wet, hitching a ride back to Phnom Penh after an all day bike ride. The roads were flooded but we rode our bikes through anyway, Mekong River water chest-high.
That week I speak at four conferences in Cambodia, Singapore, Brunei, and Indonesia. By the 4th one, my American accent has started to morph into something kind of Asian.
We’re in a hospital in Singapore, having a baby. It’s a boy, which means he’ll serve 2 years in the Singapore military in 2030. The birth certificate says his race is Eurasian, a word I’ve never heard.
I’m on a diplomatic mission in Mongolia, with the Singapore Business Federation, talking with the Mongolian government’s head of business development, walking with the next mayor of Ulaanbaatar.
I suppress a laugh at the ridiculousless of this situation.
I’m just a musician from California! What the hell am I doing here?
But that feeling lets me know I’m on the right track. This is exactly what I wanted.
Some people push themselves physically, to see how far they can go. I’ve been doing the same thing culturally, trying to expand my California-boy perspective.
I love that when we push push push, we expand our comfort zone. Things that used to feel intimidating now are as comfortable as home.
I remember how scary New York City felt when I moved there in 1990, just 20 years old. Two years later it was “my” city - my comfort zone.
Now previously-exotic Singapore is my long-term comfortable home, while I push myself into exploring foreign places, new businesses, and different perspectives.
After years of stage fright, performing over 1000 shows, I have a strong case of “stage comfort”. Being the lead singer or speaker on stage is now my comfort zone.
A lot of my musician friends feel this when playing on stage with their legendary heroes. You push push push, then one day find yourself on the very stage you used to dream about. And it feels so natural - almost relaxing. It’s your new comfort zone.
The question is - what scares you now? What’s intimidating? What’s the great unknown?
I keep using that question to guide my next move.

Tuesday, January 10, 2012

NTC Seminar on: The Way to China Innovation

Speaker: Michael Lin
Founder & CEO of
Directory.com
Intellectual Property Exchange (www.IPEXL.com)

Introduction
Mr Lin started off with an informative and insightful introduction to the background of China's innovation. He stated that for anyone to truly understand China's innovation and entrepreneurship environment, one has to have understanding and knowledge of China's historical events that molded China to what it has become today.

The China Revolution started off with the removal of the monarchy, when the common men no longer are seen as slaves to the emperor. However, at that time, it was just a dream, as there were still social classes that clearly determines the income of the people belonging to each class, which widened the income gap between these social classes.

In Mao's era, China's economy didn't grow very much, due to over-investments into the military, while living standards remained poor and unchanged.

In Deng's and Jiang Zhe Ming's Era, between 1978-2004, GDP did began to grow. However, Deng's elitist vision of letting small groups of people first become rich, then lead the others to equal income standards, eventually failed. This was because the continually widening income gap started to create much social unrest which effects were underestimated.
When everyone was poor, there wasn't such problems, because everyone suffered together.
However, when the poor witness the rich getting richer, they felt that they were left behind (Not unexpected, and not without reason).

Now in this 21st century, we might think that China is a growing economical giant, however the truth is that behind the flourishing 1st tier cities, the 2nd to 3rd tier provinces have infact became poorer, and living standards remain unchanged for centuries, while only the 1st tier provinces have became richer and richer.

Critical definition: Innovation is the usage of ideas and methodologies, while inventions is the creation of new ideas, products and methodologies.

The Global Innovation Index
The Global innovation index of Singapore ranks 1st, while China ranks 21st. however, in terms of innovation inputs, Singapore has a score of 2.89 to achieve an innovation performance of 2.01. While China ranking 21st, has an input of 0.06, with a performance of 1.96.

Thus, looking at these indexes from the angel of Return of Investments (ROI), China has a much more impressive ratio than Singapore! Why is that so?

Due to simple probability and the clustering effect, China must have a  higher percentage of talents that have exceptional foresight and intelligence in leading and creating economic progress, and when placed together, they benefit from the effects of sharing knowledge, resources and networks to achieve wonders.

Nevertheless, Singapore's strategic port location, was deemed by Mr Lin as much underestimated, in its importance and strategic leverage which Singapore has been blessed with. Due to our competitiveness in the shipping industry, Singapore pretty much controls the flow of resources (Especially energy and other commodities) among some of the riches countries in Asia.

Threat or Opportunity? The Chinese Middle Class
The Chinese middle class of urban professionals and entrepreneurs with college education, annual income between US$10-60k and average age of 35, continues to grow to become one of the most threatening demographic which all Singaporeans should be aware of!

There are currently over 300million of them, who comprise of about 25% of the total population, and is expected to grow to 612million by 2025 (40% of population), that is 60-100 times larger than what Singapore can offer! And they do not just compete within China, but instead are obviously seen competing all over the world.

However, this is inevitable, and instead of seeing it as a growing threat, it is more rational to decide to leverage on the inevitable, and transform them into collaborative/business opportunities. If there is a potentially successful Chinese right within your network of friends, appreciate them, embrace them, work with them, and collaborate to achieve mutual financial success and benefits!

China Innovation is a MUST!
Reasons:
1. China is starting to peak as a low-cost export manufacturing platform, and to remain competitive, they have to do transform their strategic economic focus.
2. To maintain its dynamic industrial growth, China must and will innovate!
3. Graduates are earning lesser, while housing and standards of living continues to rise, hence more people has to become job creators rather than job seekers!

Chinese Innovation
A. Build Operate Transfer (BOT) Business Model
Examples: 5 stars hotels in China
The governmental strategy of growing infrastructure through private enterprise investments without needing the country to invest their own capital other than the right to use th land for 20 years, and take over the entire enterprise, 20 years later.

B. Design Build Finance Operate (DBFO) Business Model
Examples: Highways
The government allow private enterprises to invest huge amount of capital in high-risk capital intensive infrastructure developments, and allow them to profit from it, infinitely.

C. Build Own Operate (BOO) Business Model
Examples: China Unicom
The government allow private enterprise to invest in building companies and co-own businesses.

China's Business Innovation Driving Forces and Opportunities
Contemplate on the following points to discover reasons behind why each has been labeled under their respective categories.

Areas where business opportunities might arise:
A. China's current strengths
- Improved quality
- Create new market
- Extend product range
- Improve production processes

B. Current opportunities
- Reduce materials used
- Reduce labor costs
- Replacement of products/service

C. Rising stars in China
- Conformance to regulations
- Reduce energy consumption
- Reduced environmental damage

Most important advise for enterprises entering China's market

FIND a reliable local partner!
DO NOT go in alone!
It seems to be almost unthinkable and entirely impossible to succeed without a local partner in China.

What Singapore youths are lacking, in terms of knowledge or attitude?
1. Comfort zone
- Singaporeans tends to grow to become comfortable with small successes.
- They have no desire and no ambition to become the BEST!
- Typically people will say "Why do you have to be so greedy?"
- While in China, EVERYONE wants to be the BEST and the BIGGEST!

2. Singapore market is too small
- Its scale and potential is limited
- To be successful, we have to think beyond our national boundaries!
- However, most of us lacks the ambition, drive, determination and imagination to do so!

Friday, October 28, 2011

Conclusive Sentiments of the 7th UNESCO Youth Forum


Hi fellow mentors and friends

I am humbly thankful for being provided the opportunity to travel to Paris just last week to attend the 7th UNESCO Youth Forum as one of the two Singaporean delegates.

I sincerely believe that it was only with the support and opportunities from YOU, provided throughout different phases of life that provided me the profile to clinch the spot, to represent Singapore to stand among 210 youth delegates representing 127 Member States.

Hence, I would like to share this report which we have prepared, of which will be presented by our elected youth representatives from Finland and Canada, to have the proposal discussed as an agenda item in the UNESCO General Forum held this week. Leaders from all member states will be attending to jointly discuss various social issues as priorities to address within the 2 years to come, and invest in resources to tackle them with the development and implementation of policies within their own countries.

Despite the fact that I was just one of the 210 delegates and that our proposal may or may not be of any significant influence to any consensus the leaders may form, I am truly delighted to be given this opportunity to even have this opportunity to potentially create an impact throughout the world.

This is the very first time, UNESCO have given the youths, this opportunity to present the proposal, prepared and presented by Youths, to represent the voice of Youths from 127 member states. This is also the very first time that I felt that my voice, no matter how small, have contributed to a unified voice that has essentially reached out to all the leaders from the various political leaders of the various UNESCO member states.

Therefore, I am encouraged and have been equipped with the confident to tell all the youths of our country; 
"Youths, Do not fear to dream about a better world!
Do not fear that your voice will not be heard!
Do not fear that your actions will not make a difference!

Believe in yourself, Believe in your cause!
Reach out and achieve the change you want to see!
Be the change you want to see!
For if you don't,
Who will?"

To all my friends and mentors, Thank You!

You are also a simply awesome change-maker! 
I thank God that I got to know you, and I sincerely hope that you will continuously believe and strive to achieve your dreams for a better world!

Link to reports:

Thursday, July 7, 2011

Junior World Entrepreneurship Forum @ Singapore

For more information visit: http://www3.ntu.edu.sg/jwef/


The Junior World Entrepreneurship forum is a global association of students aimed at supporting the mission of the World Entrepreneurship Forum which is to create wealth and social justice through entrepreneurship. The community acts as a global think-tank preparing an entrepreneurial world, creating wealth and social justice through 4 key levers:
·        Preparing the Next Generation of Entrepreneurs
·        From Innovation to Business Success
·        Best Cities for Entrepreneurship
·        Empowering Entrepreneurs at the Base of the Pyramid

The Junior World Entrepreneurship Forum 2011 aims to gather entrepreneurs and youths together to share their vision, finding, ideas and recommendation on current global issues. This event will consist of a seminar and a networking cum discussion session, which facilitates the transfer of knowledge from industry professional to student participants and develop entrepreneurial skills in the youths. The theme for this year is “Entrepreneurship, a driver for technology and innovation”.

It will be held from the 25th to 28th of July 2011 (Public Seminars: 10am to 1pm), and hosted by different tertiary institutions each day.

For more information and to sign up for the JWEF Public Seminars, click on the following links: