Archive for the 'Financing/funding' Category
- Posted by Tengku Zahasman on October 27th, 2007 filed in Entrepreneurship, Financing/funding, Startup
- 17 Comments »
- (4,717 Views)
While I was browsing through my collection of downloaded e-books earlier today, I came across one titled “How to Build A Bulletproof Startup” which I found on Business 2.0 magazine somewhere last year.
What’s really interesting about this e-book is the use of illustrative pictures with easily understandable English to explain the processes of how Startups are found and built. It throws you the big picture straight into your face without digressing so much. The e-book lists down 16-steps guide in chronological order of how you can create your own startup from as early as establishing your company to developing your idea to funding strategies to launching your app to marketing your product.
While I noticed that most of the financial requirements stated in the e-book seems to be exagerrated A LOT (I mean hey… $500K needed to build a prototype and $1 million to build the beta app?? Come on….), but they did raised some major important points that needs to be considered for establishing a professional startup such as staffing considerations and how your end-product might evolve and change from your initial idea.
So go ahead, download the e-book and read it. Just remember to turn a blind eye for any financial figures found in it, because you want to create a bulletproof startup, not shooting a bullet through your startup.Tags: business plan entrepreneurship startup web 2.0
All work and no fun makes Web 2.0 a dull world. Let’s up for a bit of entertainment (or infotainment) shall we?
Getting a VC’s attention is not easy. So if you want to learn some tips on how you can manipulate a VC into signing that million-dollar-agreement with your Web 2.0 team, perhaps this 3-minutes video can help you out. The man speaks in Hebrew but it has an English subtitle. Quite an interesting “videopedia” with some ground-breaking tips. Watch it carefully, enjoy and learn!
But of course you’re not gonna take that guy seriously, do ya?
Thanks TechCrunch.Tags: capital humor
- Posted by Tengku Zahasman on June 27th, 2007 filed in Thoughts, Entrepreneurship, Financing/funding
- 16 Comments »
- (8,091 Views)
It is quite common nowadays for working citizens to do some kind of *side business* in order to add more value into their fixed monthly income. Thanks to all the financial gurus out there who introduced the mantra of “creating multiple-streams of income in achieving financial freedom”, we are seeing more and more of our people indulging themselves in businesses and entrepreneurship, albeit in many different ways. Some people do this by selling “curry puffs” in front of their houses every morning before they go off to work, some become part-time freelancers doing photography or video editing on weekends and on special events, some decided to do professional consultancy jobs, other more desperate people resort to MLM businesses, network marketings, direct sellings and pyramid schemes (no good!).
Web savvy users however are more likely to conduct part-time businesses online. Smart option. These people manage their own e-commerce sites and sell stuffs online, some managed to create high traffic online subscription portals, some do Internet Marketing, good writers write and sell e-books, more technical people provide Internet services like web hosting or web design, other less technical people simply write blogs and get the extra bucks out of Google AdSense, while the rest of us venture into the Web 2.0 industry providing Web services and develop social applications. The Internet business is so flexible that you can run it and manage it from anywhere as long as there’s Internet connection that it is quickly becoming a trend for people to adopt it as their side business.
Running Internet business part time…
I’ve had experience of running an Internet business without having a full-time job before (the few months after I graduated from university) and I also have the experience of running an Internet business while going off to a 9-5 work every weekdays (which is what I’m currently doing). Unless you’re very well funded, having a full-time job really helps a lot when it comes to stabilizing your finance. As a self-funded Web entrepreneur, I fund myself using the monthly salary I get out of working in an Internet security firm. My bills, loans, leisures, food and travels are all taken cared of using my salary. In fact I sometimes even use some of them for my business, I call it an “investment”. That means I don’t have to touch a single cent of my Internet income for my personal use. This is very effective for maximizing your business’ profit.
Before I had a full-time job, my business money were also my money. Separation of entities doesn’t work in this case because we also need to feed ourselves. It’s hard to grow your business this way because money will run out very fast, sometimes it’s just enough for you and your business to survive in that particular month. That’s very choking. By having a full-time job, business risk is also reduced because I know if something doesn’t turn out right with my Internet venture, at least I still have my monthly pay to back me up. Boy that’s a relief. That fact alone gives me the confidence to do risky things in my venture.. and that’s truly interesting.
The downside of having a full-time job is that you’ll be struggling to find “time” to focus on building your Internet business. Managing it is easy, but developing it is something that takes a lot of time and focus. Everyday and every weekends you’ll be pressured to allocate a few hours to focus on your Internet business, and in some situations that can be pretty frustrating.
So what happens next?
It’s every entrepreneur’s dream to start up their own company. I’m sure most entrepreneurs out there who are still working full-time have that intention of quitting their job one day to become their own boss. However, starting up a company needs capital, plan, experience, networks, and portfolio. These are the things you can gather while working on a full-time job and conducting an Internet business at the same time. People who jumpstart their company too soon always fail miserably. As I said before, unless you’re pretty well funded, don’t quit your job just because you have started an Internet business. Do that only after you can at least make a steady Internet cash flow three times larger than your monthly full-time job salary. Can you do that?Tags: business productivity google adsense internet business Web 2.0 entrepreneur