Most inspiring stories from Singapore Entrepreneurs III

***********30th August 2005 @ 2110 - 2215 Hrs***********

This book showcases entrepreneurs who are willing to do just that and who, in the process of recounting their trepidations and sweet moments while roughing it out, often end up with a chuckle or two. Enjoy!

**************************PART III************************

Taking it to Greater Heights

One way to bring your business to a higher level, is to, constantly seek to improve and be innovative.

Regardless of how one plans to bring the business to greater heights, there is one thing to note, TO BE CONSTANTLY ON YOUR TOES TO UNDERSTAND HOW YOU CAN IMPROVE YOUR WAY OF DOING THINGS.

CUT THE PAPER WORK! - Move from the conventional way to the IT way of doing business. It allows us to react faster & quicker to our customers and allow us to stay competitive within the industry.

Keep improving and coming up with something new.

Defining "ENTREPRENEURSHIP"

Everyone can own a business, but what exactly sets an entrepreneur aprt from a mere business owner?

An entrepreneur is one who also wants to add value to the community he operates in.

He is a dreamer, most importantly, one with the conviction to see his ideas through.

As long as you have a CLEAR VISION in mind, no skeptic can pin you down.

With a sound business plan and good reasoning, the rest is just HARD WORK & PERSEVERANCE.

An entrepreneur must recognise that, he is more than just selling a product or a service, he wants to add value to peoples' lives! Only when he successfully manages to enhance the quality of peoples' lives, would he be remembered and respected.

Entrepreneurship is NEVER just dollars and cents. It is like planting a tree.

Businessman focused on Profits and Losses, while entrepreneurs put a lot of importance on teamwork.

It's important to be:

1) Independent

2) Decisive

3) Optimistic

It's important to elimate pessimism because entrepreneur is bound to face alot of problems in their business environment. This is what you need to stablise yourself and sculpture your character.

One who sets trends within any genre of business, embodying a spirit that keeps you one step or even ten steps ahead.

One who believe in ideas of maverick and new visions, seeing what no one else is seeing and moving into areas where no one else is moving. Without the essence of a maverick, the entrepreneur can never be a true visionary leader.

One who is like a TYPHOON while the rest are like kite. Typhoon stirs up all obstacles to reach the destination, while the Kite follows the direction of the wind.

One who has the burning desire to strike out on his/her own & the knack of knowing that things would fall in place at the right time.

One who is independent & not relying on someone else for one's job security.

One who is able to use his/her talents to obtain the recognition that you deserve, instead of being in someone else's shadows. It's about challenging yourself! Seeing if that busines plan you had in your head is more than just a theoretical one. It's about fulfilling dreams!

One who has a vision and conviction and be prepared to work very hard towards it.

PEOPLE GROW OLD ONLY BY DESERTING THEIR IDEALS. YEARS MAY WRINKLE THE SKIN, BUT TO GIVE UP INTEREST WRINKLES THE SOUL.

Entrepreneurs do not see dollars and cents as their only returns. Instead, their total returns include the value they add to the society.

THE BIG EDUCATION DEBATE

Education only opens the 1ST DOOR for you!

A true education is one that teaches you how to learn and relearn as you traverse the entrepreneurial path.

The only way to improve one's life, is to actually move forward and have better control over your life is to venture into a business.

In a business, you have to look at

a) CHANGES IN THE MARKETS,

b) MOVES WITH TIMES,

c) NO FIXED RULES FOR BUSINESS

d) BUSINESS LARGELY HINGES ON INSTINCTS & INTUTION.

It's about being able to balance both qualities of rationality and creativity.

EQ (People skills & Communication skills) are MORE IMPORTANT than IQ (Technical expertise which you get from school).

Doing business is about LEARNING.

LEARNING starts with PASSION & WILLINGNESS to learn.

Some traits of entrepreneurs include:

i) Self-discipline

ii) Being resourceful

iii) Able to overcome hardship

iv) Having the PASSION

v) Having resilience to see it through

Becoming an employee is like stepping into the COMFORT ZONE and this may be a hindrance to becoming an entrepreneur.

When you learn through formal education, you use your HEAD. Once you acquired any knowledge, you need to us e your HEART to communicate.

Education:

-> ONLY helps you to open the 1st door.

-> A foundation of any business opportunity.

-> Gives you a good mind.

-> Broadens your communication skills; lacking of those skills creates communication breakdown, misunderstandings and bitterness.