First of all I want to thank YouthMalaysia.com for organizing this convention for budding and aspiring entrepreneurs. Malaysia certainly has a lot of young men and women gunning to succeed in a business or organization of their own.
Here I met many Malaysian entrepreneurs who have made their mark in various sectors and arenas of their own right. I will be summarizing what each of them said here, and I will post some interesting pictures along the way. =)
Ern Sheong the PARTICIPANT & FUTURE ENTREPRENEUR!
TECHNOPRENEUR
KENNY GOH, Co-founder and CEO of Macro Kiosk Bhd. (29 years old)
According to him: What does it take to become an entrepreneur
1) Go against the STEREOTYPE
2) The MINDSET and RISK factors
3) You must have the DRIVE (love what you do!)
4) NO regrets
5) Be the BEST person and believe in GOD (Amen to that!)
6) The spirit of COMPETITION!
7) Have the leadership ATTITUDE; Handle stress, not take stress.
Make GREAT decisions everyday. Make everyday a GREAT day!
9) No need to please ANYONE! (do what your prove, minds & soul believes)
10) The Power of COMMUNICATION (be able to lead, listen, focus on the solution)
11) VISION: See beyond what others see!
INTERNET MARKETING ENTREPRENEUR
NG KHAI LEE, Co-founder of Cicak.com; Winner of KLUE Blues Chilli Awards (24 years old)
Talked about online web 2.0, citing that internet companies are only for those who are optimists. Starting one is a gamble and there is a lot of hype along with it.
Three things:
1) Capturing your EXCITEMENT (write your ideas down when it strikes!)
2) Draw your mock-up plan (just a sketch)
3) Do whatever it takes to get version 1.0 up and running (even though it might not be fully functional yet)
www.khailee.info
INTERNET ADVERTISING ENTREPRENEUR
TIMOTHY TIAH, Co-founder of Nuffnang (24 years old)
He talks about his blog advertising network company and how he started it. Nuffnang is about helping bloggers generate revenue through advertising by outside firms. He added that people might look down on you and your idea due to your age, but don’t let it put you down! Never take no for an answer, always be think-skinned (referring to getting customers, presumably!)
PUBLIC LISTED GAMING ENTREPRENEUR
GANESH KUMAR BANGAH, CEO of MOL Access Bhd. (29 years old)
Started working on his own after his PMR at age fifteen. He has faced challenges and says that being an entrepreneur is not always flashy and exciting. He recalled how he (he stayed in Johore when he was younger) traveled to Singapore after school to buy a sound card for his teacher for SGD 30 and sold it to her for RM 150. =) He then ran the first cyber cafe in Johore and developed a cyber cafe management system. He later branched into his own company MOL Access which deals with cyber cafes and gaming. Later on, he commented that Venture Capitalists in Malaysia like to tell you what is bad about the idea presented instead of telling you how to improve them like what Venture Capitalists do in the US.
He added that cash flow is imperative in a business. “When you don’t have the money, no one will come and give you money.” And vice versa. But money is not everything, he says. You should be starting a business to AFFECT the people around you, to change and improve the lives of the customers. “Work hard, but play hard as well; don’t burn out!” he quips.
3 sayings of billionaires:
1) (Indian) Ideas are nobody’s monopoly. Think fast, think big.
2) (Russian) Money is the language of conviction.
3) (Malaysian) Don’t be shy. No harm trying. (When telling his partner to ask for a price 10 ten times the amount offered)
During lunch, YB Datuk Ong Tee Keat, Deputy Minister of Higher Education, delivered a luncheon talk. He is a very good orator, and he spoke with enthusiasm and energy. Touched on many youth issues, of which some are brain drain, employment, entrepreneurship and national interest.
YB Datuk Ong Tee Keat. I was sitting near the stage so I sneaked a photo of him =)
DANCE STUDIO ENTREPRENEUR
OH JOO NEE, Founder of Let’s Dance Studio / Winner of Nescafe Kickstart TV Show (24 years old)
She wanted to establish a dance studio different from that of others. When setting up, you must think, “How much initial investment is needed and how am I to get them?” Look for a visible location if the need calls. Calculate the amount of operating cost needed. Can you run your business on your own? If not, get the right people to come in. How much money would be needed to pay these people? Marketing can be done through brochures, websites. In her case, she did roadshows in colleges to generate publicity. All the beginning stage of a start-up, do not be calculative. Do everything that you think is necessary to generate future value, regardless of whether they bring financial reward or not in the short term. Publicity now can generate more revenue later. In the service industry, a good reputation is needed so that people can refer your business to others. Make lots of friends and network!
Oh Joo Nee and I
FITNESS ENTREPRENEUR
MR KEVIN ZAHRI, Fitness Trainer and Business Owner (28 years old)
Entrepreneur is a title given by peers to you; it is not self-given. You do what you do because you believe in it.
TIPS for entrepreneurs:
1) Know Thyself: Know your own strengths and weaknesses. Do what you are good at.
2) Believe in yourself
3) Vision/Direction/Plan- have multiple plans for a project
4) Have control over your business (Don’t allow others to make the decisions for you, and don’t depend on people to make the call)
5) Execute – Just do it! ( Don’t be so eager to succeed so fast, it takes time)
6) Luck (!!!? I don’t believe in luck. GOD!)
Better to do something than not to do something.
7) Balance
www.kevinzahri.com
BLOG ENTREPRENEUR
KENNY SIA, Blogger, KennySia.com (24 years old)
Started blog 3 years ago. Met resistance from his mum initially about the blog. Many negative comments from people he does not know (many asked him to censor himself) Blogging requires an understanding of people and bloggers must maintain a relationship with people. To be successful one has to be different. He thought that why would anyone want to read what he or she ate that day, etc etc. So he changed the style of his blog and wrote parodies. GET A BLOG! he says.
Kenny Sia and I
MUSIC ENTREPRENEUR
MIA PALENCIA, Singer/ Songwriter (23 years old)
She explains why now this is the era of the death of the record label. She tells of how people record their songs at home, promote gigs and events online (MySpace, blogs, etc.), set up music blogs, record a demo and distribute for free, sort out ownership of music, blog and perform everywhere, approach people in the community, and eventually hire a manager to take care of the music career. She goes on to cite some Malaysian success stories in the music industry, including Pop Shavit and Pete Tee. She also adds that if you are not passionate about music and musical instruments, don’t even try. It is a very very hard industry to penetrate with just mere interest.
PHOTOGRAPHY ENTREPRENEUR
KID CHAN, Founder & Director of Kid Chan Studio (28 years old)
He spoke on branding. A brand is a promise. Delivering a promise. Real brands have to deliver.
How to create a SuperBrand?
1) Be Pleasant
2) Be Present
3) Be an Authority
How to be an authority?
1) Write a column
2) Get your work seen! (Have a website!)
3) Workshops
4) Interviews, interviews and more interviews
5) Power of association
Great Brands Deliver!
www.kidchanstudios.com
www.kidchan.com
SOCIAL ENTREPRENEUR
RAJ RIDWAN, Co-founder & International Director of Science of Life 24/7 (24 years old)
The more you give, the more you will receive. In business, embrace social responsibility. Take the people seriously and treat them well. Be responsible and committed to your enterprise. Never take anyone for granted.
FINANCE ENTREPRENEURS
MS NOR AKMAR HANIF (30) & MS AIDA NURLIN HANIF (27)
Founders and CEOs of Platinum Wealth Advisors
Financially minded sisters who basically spoke very enthusiastically minus the substance. They were more like using the convention to promote their company. Showed off the new cars they bought, from Porshe, to Mercedes to Fairlady. Showed off their ability to travel the world with their money. Told the audience to “Invest in yourself; buy a new car to invest in yourself.” IMO, arrogant and materialistic. Sorry nothing good to say. But no doubt they did establish a seemingly thriving company and made a lot of money out of it.
YOUTH ENTREPRENEUR
JOEL NEOH EU-JIN, Founder of YouthMalaysia.com & The Youth Intelligence Sdn Bhd
Chairperson of Youth ‘08
Winner of the 2007 reality TV Show The Firm
A nice guy with a pleasant personality. Here are his points:
For entrepreneurs:
1) Passionate and driven (passion overcomes inexperience)
2) Innovative ideas
3) Open mindsets (lifelong-learning)
4) Technologically savvy
5) Team work (Work with the team, speak with the same wavelength)
6) Work fast (speed is crucial, someone is going to take the idea up one day or another)
Weaknesses of Entrepreneurs
1) Lost of Focus
2) Lack of Guidance
3) Low Memory Power
4) Communication Failure
5) Never Listen (Talk less, listen more, work harder)
“The higher you go in life, the more humble you must become.”
Amen to that.
During the convention, I met some new friends. Meet Lee and Tan! (from left to right)
So that sums up my coverage on the convention. A great insight and inspiration it has been. Malaysians must dream bigger and achieve their dreams. The sky is the limit.