Spirit of Entrepreneurship

An idea can turn into dust or magic,

depending on the talent that develops it.

Entrepreneurship @ TP
http://www.tp.edu.sg/admin/entrepreneurship/ or http://vbus-tcdb.tp.edu.sg/tcdb/etf_dev/default.htm

Key learning point for me: Anyone can think of the same idea. It's the actual execution of idea that separates you from the rest.

Initiate, Create, Organise, Spearhead.
Youths at a community level.

Basics of setting up businesses - how to start and run a business,
Creating business plans,


Information on how to write a business plan at NEBS

http://www.nebs.com/NASApp/nebsEcat/business_tools/bptemplate/index.jsp

The business plan should address the following:

Executive Summary
- overview of the plan, concept, overall strategy, organizational structure

Products or Services
-
description, competitive comparison, features, benefits, niche areas

Target Market
-
demand pattern

Market Strategy
-
pricing, sales/promotion, distribution, services and support

Financial Plan
-
sales projection, cashflow projection, profit & loss project, balance sheet

Innovating their options
Innovate: do new things or do old things in new ways
Background of industries.

Readjust - switch and change.

Creating businesses,
the processes
the resources, assistance and funding
(find resources to make it happen)
and
the legal issues.

Formulate an original and creative business plan
and a unique and innovative product.
Develop these ideas into commercial products
that will benefit the community.


If an idea has been patented by or is the property of a third party, the originator of the idea must agree in writing to the use of the idea.


Is there any commercial potential of the business plan/product?


Drawings and photographs (front view, back view and side view) of the prototype.

Focus on your strengths.
Are you good with people?
Are you STREETwise/smart, resourceful?

Confident --> individuals who are quick in their thoughts and who are
not afraid to (speak up).

Team Building, Communications, Leadership.

1. Never say die
- perseverance
2. Don't do it all alone
- a team of gd and dedicated pple.
3. Bottom line comes first

Steadfastness, pioneering spirit.

Analyse market needs. Value of a business in the long run.

Customer feedback

When buying things:
1. Get at least 3 quotations from separate vendors.
2. Submit them, together with an evaluation report and recommendations
to the relevant department.

Seize on any opportunities.
TEAMWORK: work with people from all backgrounds.

Take up the challenge,
Make your dreams come true!

Take the opportunity to generate free ideas,
this will eventually spark a successful business!

Spirit of Enterprise
www.soe.org.sg

Meeting Young Minds videos
@ vBUS.

The 36 strategies of ancient China
# 1 - Conserve your energy while the enemy tires himself out.
# 2 - Your enemy's smarter and stronger than you? Try a diversionary tactic where you create something out of... nothing!
# 4 - Impersonate someone else and escape danger!

Panasonic's brand slogan is "ideas for life", Toyota has "Ideas for Good".
Where do good ideas come from? It's from our daily life. "Anyone can have a good idea, they just have to be brave enough to recognise it." Jacob Ward, Popular Science Magazine.


"Life of an Idea -- Toyota" uploaded by ToyotaUSA on Mar 1, 2011.
http://www.youtube.com/watch?v=iT45gJeBMnI

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