my presentation on entreprenurship at ace, spring singapore
DESCRIPTION
My presentation on 'Entreprenurship for Professionals' at the Action Community for Entrepreneurs, SPRING Singapore on July 30, 2009TRANSCRIPT
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The Icon Resources Group
An entrepreneurial story
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“There is only one way to make a great deal of money; and that is in a business of your own.”
– J. Paul Getty, Former oil tycoon and once the richest man in America
ItIt’’s all about s all about passion!passion!
Actually, its not about money!Actually, its not about money!
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My background….
�Electronics Engineer�MBA from Indian Institute of
Management, Bangalore, India�Worked for 5 years in India –
another 6 years in Singapore�Took the plunge in 2000
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The Icon Resources Group
� Icon Resources & Technologies Pte Ltd
� Icon Business Solutions Pte Ltd� IRT Computers (India) Pvt Ltd
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The Icon Resources Group
� What we do� Business Intelligence Solutions� Content Management & Workflow
solutions� Human Process Management
solutions� IT Distribution
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SME 500 award - 2007
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Icon in the media
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The 7 golden rules of Entrepreneurship!
What should I keep in mind when I start off?What should I keep in mind when I start off?
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Rule #1
Don’t start off till you are ready� Take care of personal priorities� Have a clear business idea in place� Ensure you have enough capital to last
you for a few months� Critically examine your ‘burn rate’� Plan your ‘exit strategy’ in advance
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Leverage relationships� Meet and network with as many people
as possible� Ask for advice� Call in a favour or two � Listen to everyone, but do what you
think is best!
Rule #2
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Rule #3
Keep things simple!� Avoid extravagance and frills� Keep your business model simple� Work on a simple message� Control risk� Don’t bite off more than you can chew
"Business opportunities are like buses, there's always another one coming."- Richard Branson, founder of Virgin Enterprises
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How we simplify things at Icon
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Plan to grow organically & slowly
� Plan to grow, consolidate, grow again� Tailor your growth plans in line with capital
availability� Invest in good infrastructure � Avoid ‘loose’ partnerships and relationship
Rule #4
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Rule #5
Work on an identity � Create a strong USP and differentiate
yourself� Create a compelling value proposition� “Brand yourself”
The only place where success comes before work is in the dictionary- Vidal Sassoon, entrepreneur
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Position yourself correctly� Position your business to show value
� Don’t focus on too many things
� Never lose sight of your core business
Rule #6
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Uphold the highest standards� Be uncompromisingly honest� Maintain a high level of integrity� Be paranoid about your reputation� Be the best at what you do� Never stop innovating and learning
Consistency outperforms intermittent excellence
Rule #7
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Bonus rule !!
Never be afraid of failure
Without failure there is no success!
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Be careful what you water your dreams with. Water them with worry and fear and you will produce weeds that choke the life from your dream.Water them with optimism and solutions and you will cultivate success. Always be on the lookout for ways to turn a problem into an opportunity for success. Always be on the lookout for ways to nurture your dream.
Lao Tsu
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Thanks and all the best!Thanks and all the [email protected]