Everyone wants to turn their idea — their baby — into reality. Being a part of this venture building programme has given so much structure and clarity in ascertaining that possibility and, in some ways, the programme is a litmus test as to whether a product/service/technology can succeed.
Time and time again, the rhetoric that 90% of start-ups fail in their first year rang through (though being rhetoric didn’t make it any less true). There’s a whole industry filled with gurus and self-help books dedicated to encouraging founders to ride out the storms and persevere through the hardships of entrepreneurship.
It’s been a couple of weeks since the last story, and my my has it been a whirlwind. So much has happened, from our field trip to starting proper on interviewing stakeholders and target segments to celebrating the Lunar New Year.
Things are in full swing now, with Pam and I all hands on deck talking to people and planning our next steps. As much as I would have wanted to say things have been rosy and smooth sailing, running an enterprise hasn’t been a breeze at all.
This week, there was progress in validating our market. For the longest time, my co-founder and I had been wracking our brains over which industry and sector to enter.
Which market has the lowest barriers to entry? Which one is the least competitive? Will there be enough customers? What’s the market size? Which one do we enter first?
At the back of my head, I had an inkling that the best way to obtain answers to these questions, or any question in entrepreneurship really, is by talking to the very people we were interested in helping.
By now, we had…
One of the most impactful quotes I read this week was by Tony Dungy, author of Quiet Strength:
“When you have success, it is easy to stick to your convictions. But when success is delayed, sticking to what you think is right is difficult”
The universe is boiling over with rhetoric on how to find success and fight for it. We see this especially prevalent in recent years with the trend towards entrepreneurship and start-ups.
Knowing what success is will define whether we achieve it. The rationale is simple; if we don’t have a clear destination in life, we won’t…
Week one was a blur. No fancy speeches by the directors, no welcome programme and no facilitated networking sessions — we started the venture building programme hitting the ground running with a short introduction followed by classes from 9 to 6.
Credit where it is due though, it did stick to the spirit of entrepreneurship; that nobody owes us anything and if we wanted to succeed, we had to reach out and grab it.
Thankfully, there were allocated times for participants to share their ideas. It was eye-opening as a first-time entrepreneur seeing people of all ages and backgrounds in…