It was such an enriching experience hearing from the following speakers from various industries about their start-ups, their day to day life, the sacrifices they made, the joy that it brings about and more.
Guest-of-Honor was Ms Nanz Chong-Komo, Founder of Nanzinc.com ( And also the founder of the one.99 shop;) with 3 other speakers Ms Sandy Oh, Managing Partner of 15 minutes, Mr Richardo Chua, Managing Director of Adrenalin Events and Education Pte Ltd and Dr Wong Kok Cheong, Founder and CEO of Sparky Animation Pte Ltd.
(Refer to my previous post for the write-up on their profiles )
My takeaways were plentiful!
For work-life balance, Nanz (Nanzinc.com) was the best icon. There are 2 sides to a coin. She shared on balancing time and prioritizing. Also the importance of planning out finances and be realistic in expectations.
For the issue of partnership. Do I find a partner? Or try and do it on my own?
If you decide on partnership, what kind of partner do I look for?
Sandy (15 minutes) shared that values are fundamental to your partnership.
You only know whether your partners are worthy when the company is in times of crisis
Needs to have a constant honest dialogue
Also queried her on how she manages her time day to day because as entrepreneurs you must have the discipline to set the schedules and strive on. ( I have heard many who struggles with it because suddenly they have alot of free time and they don't know what to do - if they do not have appointments). She separates her time into 3 periods (I can't really remember the words she used but the meaning is along these lines) : Sharing time ( meeting up with people) ; Idealization time ( Researching and thinking) ; Fruition time ( Doing the things/admin required to make the idea come true).
Currently she's also planning to come up with an app ( shall not share much until it appears!) very cute app!
Richardo(Adrenalin Events) reminded me how important a vision is to a company and always be clear on what your unique differentiation is. For them it is to help children at risk through events. One example that they gave is for events, you need someone to play the music. So they went to teach a group of polytechnic students the programs of DJ and then the best one gets to intern with them.Its a win-win situation! And for some of their clients who asked them to design websites or brochures, they went to the disabled folks and found a talent! Another win-win situation! Inspiring - Its something that I hope to inculcate in my work too!
Then he also shared the most important feeling one should sustain in business is : Love. Its what sustains you though the ridiculous clients etc ( Fully understand!) - And similar to what I hope to do: Our final purpose should be to grow others. Having your heart in the right place is the crux for the business.
As for the issue of investors / raising money: There are only 3fs who will lend you the money when you need it. Friends. Families. Fools. (hahahahaha) True right....
Then he ended off with the need for demand of your product. And to be relevant in the day to day world.
The example he gave, In the past there was a business delivery of Ice. He deliver ice to households. However one day the invention of a ice making together with refrigerator appeared. This cause them to go bust.Be relevant! Adapt and change.
For Dr Wong (Sparky Animation) , a hilarious and realistic speaker. Where he spoke about the industry of animation in Singapore, how to let go of the business when it does not fulfill your vision. And his growth for Sparky. Lastly same for talents. The right people will stay. Even if a person is good but is not aligned with the company vision, let them go.
Ending the seminar was a relaxed discussion session.
When is the best time to start a business? There is no best time to start a business. Do it while you are young! Grow your potential. You have lots of time. Less commitments. Whats there to lose?
Believe in yourself. Integrity. Be prepared for failure. Think about your own dreams.
Start solving the society's problems.
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