Stories From Entrepreneurs (Part 1)

These are the experiences of a Singapore-based entrepreneur, Michael Cheng. Though the market and economic conditions may differ from our place and Singapore, but his story may provide us with some lessons about entrepreneurship.

Why I became an entrepreneur (Part 1)?
Why I became an entrepreneur (Part 2)?
Why I became an entrepreneur (Part 3)?
Why I became an entrepreneur (Part 4)?

Personally, I found it interesting, especially Part 4 when he decided to cash out and move on. This is followed by some advice from him on how to accept failure.

Entrepreneurs: Plan to Fail. Fail Early. Fail responsibly. (Part 1)
Entrepreneurs: Plan to Fail. Fail Early. Fail responsibly. (Part 2)
Entrepreneurs: Plan to Fail. Fail Early. Fail responsibly. (Part 3)

Happy reading.

Michael's blog can be found here.

Thank you.

Blue Ocean Strategy

One of the concepts that embody entrepreneurship and innovation: Blue Ocean Strategy (BOS)

What is Blue Ocean Strategy? See here for answer.

Ocean= market or industry

Blue oceans: untapped or uncontested markets, which provide little or no competition for anyone who would drive in as the markets aren’t crowded.

Red oceans: a saturated market where there is fierce competition- already crowded with companies/businesses providing similar services or goods.

Blue Ocean Strategy:
- create uncontested market place
- make competition irrelevant
- create and capture new demand
- break the value/cost trade-off
- align the whole system of a company’s activities in pursuit of differentiation and low cost.

Red Ocean Strategy:
- compete in existing market place
- beat competitors
- exploit existing demands
- make the value/ cost trade-off
- align the whole system of a company’s activities with its strategic choice of differentiation and low cost.

For further information about the BOS tools that can be used for creating and capturing blue oceans, please link here.

For the test of how blue is your ocean, please link here.

For further information about all you need to know about Blue Ocean Strategy, please visit www.blueoceanstrategy.com.

Conclusion: Blue Ocean Strategy tells us that success is NOT dependent on fierce competition, expensive marketing/ promotional tools or high R&D budgets, but on smart strategic moves that can be used systematically by established companies or start-ups alike.

So good luck and best wishes in your current or future endeavours......

Mission and Objectives

The Young Entrepreneurs Club is a club which cultivates and equips businessmen and women for the future. It is aimed at benefiting and developing aspiring businessmen and women as it will act as a platform for applying and exercising academic learnt skills. It is our goal to educate students in the many aspects of entrepreneurship; the main emphases are good business ethics, and calculated business decisions while maximizing profit.

Mission: “The Club aims to provide guidance to aspiring young business leaders to pursue their business ownership dream at undergraduate & post graduate levels.”

Objectives:

- To train college students to have the appropriate business insights & entrepreneurial skills.

- To cultivate the entrepreneurial skills & values among college students, in order to develop knowledgeable & enterprising graduates.

- To nurture the development of quality entrepreneurs who will be capable of competing in the local & global business industries.

Latihan Keusahawanan Skim Usahawan Siswazah Siri 218 (7/08)

The Ministry of Entrepreneurial and Co-operative Development @ Kementerian Pembangunan Usahawan & Koperasi in collaboration with Sarawak Economic Development Corporation @ Perbadanan Pembangunan Ekonomi Sarawak will be organizing an Entrepreneur Training Scheme ( Latihan Asas Keusahawanan Skim Usahawan Siswazah Siri 218 (7/08) for graduates from 23rd-29th March, 2008.

Details are as below:
Date: 23rd March 2008 - 29th March 2008
Time: 8am - 10pm
Place: To be confirmed later
Fees: RM250 inclusive of food, accommodation, and course materials

Terms and Conditions:

1.) Open to all graduates from any private or public institutions of higher learning within or outside Malaysia that are recognized by the Malaysian Government through JPA or LAN, Ministry of Higher Education. [Lepasan siswazah dari IPT Awam/Swasta dalam atau luar negara yang diiktiraf oleh Kerajaan melalui Jabatan Perkhidmatan Awam (JPA) atau Lembaga Akreditasi Negara (LAN), Kementerian Pendidikan]

2.) Not more than 40 years old
3.) Open to all Malaysians
4.) Interested to become entrepreneurs

- Application forms can be obtained from Unit Latihan, Bahagian Pembangunan Usahawan, Perbadanan Pembangunan Ekonomi Sarawak, Kuching.
- Closing date: 14th March, 2008
- For further information, please contact Pn. Rubyah Bojeng or En. Suhaimi Razali

Unit Latihan, Bahagian Pembangunan Ekonomi Sarawak
Perbadanan Pembangunan Ekonomi Sarawak (PPES)
Tingkat 8, Menara SEDC, Bangunan Sarawak Plaza,
Jalan Tunku Abdul Rahman, 93100 KUCHING.
Tel: 082-416777 ext 336/337
Fax: 082- 424330

Disclaimer: This information was taken from the Perbadanan Pembangunan Ekonomi Sarawak (PPES)'s advertisement in The Borneo Post, 22nd February 2008, Classified p. B12. Whilst the Young Entrepreneurs Club believes that the information given are correct as the point of time, no warranty or representation is given to this effect and no responsibility can be accepted by the Young Entrepreneurs Club to anyone for any action taken on the basis of the information.

January "Coffee Chat" session

Greetings budding entrepreneurs!

You are all cordially invited to attend our Monthly "Coffee Chat" session for the month of January on 26th January, 2008 (Saturday), 9:30am at the Student Common Room.

Among the activities that awaits you are:
1.) Knowledge Sharing
2.) Info about sources of business funding
3.) Business Advisory
4.) DRINKS!!

See you there.

WELCOME!!!

Welcome to the Young Entrepreneurs Club website!!

YEC members are invited to post any business-related issues/tips/lessons and etc. on this site. Just email your postings to the club's email: youngentrepreneursclub@gmail.com and if it is relevant, your postings will be posted (WITHOUT PREJUDICE). Note that the club reserves the right to edit any postings and members will be credited (or blamed!!) for whatever contributions/comments they sent in. To break the monotomy of serious writing, sensible and decent management jokes can also be posted for entertainment purposes.

Thank you.

Till then, have a nice day.