| Danial Norjidi |
COMMUNICATION, clear intentions, adequate risk assessment and productivity are some of the best practices that new entrepreneurs and startup companies should take on board when venturing into the world of business.
These were among the tips and pointers shared by four young entrepreneurs, while being interviewed by the Weekend Bulletin yesterday.
The four entrepreneurs are part of a team of eight fresh graduates, who recently began a startup, and garnered attention after presenting a business proposal to Darussalam Enterprise (DARe).
On hand to listen to the proposal were Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Awang Haji Mohammad Yasmin bin Haji Umar, the Minister of Energy and Industry at the Prime Minister’s Office; and Dato Paduka Awang Haji Ali bin Haji Apong, the Minister of Primary Resources and Tourism.
During the presentation, the team was put through a question-and-answer session, during which different aspects of their business proposal were analysed. They also received practical advice on how to move their proposal into implementation stage, ways of marketing their product, as well as getting to know their customers through continuous product and market validation. In addition, the team was given guidance on how to manage their operational and capital expenditure.
Lim Jun Hong speaking to the media while Afifah Syahirah binti Abdullah Soefri and Lim Kai Woon looks on
Zainul Ariffin bin Abdul Rahman speaking to the media yesterday. – PHOTOS: AZROL AZMI
During the interview, they put particular emphasis on the communication aspect, when asked to suggest some of their best business practices for other budding entrepreneurs.
“In terms of doing business or anything, for that matter, communication is paramount,” said 21-year-old entrepreneur, Lim Jun Hong. “Without communication, you won’t be able to communicate your ideas, and you won’t be in a position to have human relationships that you need in order to do business or anything.”
He added that communication should be accompanied by actual deeds. “Without action, the words that you’re saying don’t hold anything in weight.”
Meanwhile, 21-year-old Afifah Syahirah binti Abdullah Soefri, who also works as an architect, highlighted the need for clear intentions.
“First and foremost, I feel that whenever you do something, your intentions have to be clear. Your aims have to be clear, you have to have good intentions, and everything else will follow suit.
Lim Kai Woon, 25, is also part of the startup, while also working as a podiatrist. He spoke on the importance of risk assessment.
“You need to weigh the pros and the cons so that you can know what kind of risk you are getting into; and if the gut feeling tells you that this is a good idea, then you should take it.
“Starting capital was a very big thing for us, because we had to fund ourselves during the initial phase. So I would say that for our pros and our cons, one of the cons was definitely the funding.”
He explained that while starting capital was an obstacle, it was one that was manageable, and after assessing the risks involved, they decided to go through with it.
Project Manager Zainul Ariffin bin Abdul Rahman, 22, is another of the young entrepreneurs who is part of this new startup.
Sharing his thoughts, he highlighted the importance of productivity through what he called a “non-zero day”.
“To have a non-zero day, even on your worst days, you have to achieve something even if it’s small, even if it’s learning something new, calling a client or making a phone call,” he said. “You just have to do something, and even if it’s a small step, those small steps will get you somewhere.”
He also asserted the importance of compromise and not being overcome by ego. “When you are going to meet with your colleagues, friends or business partners, I think it’s important to leave your ego at the door, because compromise is important.”
In a press release, DARe has stated that individuals or existing entrepreneurs who aspire to embark on a new business venture can seek advice on the readiness of their business proposal and on how they can deliver the right business pitch.
“Moreover, in order to encourage growth of new startups and innovation, DARe will also be providing incubation space, such as at the iCentre where entrepreneurs will undergo mentorship and training programmes and have access to potential partnerships, as well as market networks which will help to maximise their growth, continuously with the mindset of tapping into the global market,” said the press release.
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