Presentation for Webcamp Cyberjaya August 2013

On lessons learned along the way of startup, relationships with money and startup ecosystem

Transcript

1. Startup, Money & Ecosystem in the “Shift - Age” boojiun@sweetlogic.biz hometuitionjob.com & joblogy.com Saturday, August 31, 13
2. Boo WAS HERE VODAFONE NEW ZEALAND SELLING MY PRECIOUS YOUTH Circa June, 2006 Saturday, August 31, 13
3. Little bit about me • Fly below the radar type. • Formerly with IBM, Vodafone, Shell. • After 4 failed startups, founded hometuitionjob.com and profitable by the 6th month. • fanatical about ways to be more efficient and make computer serves us faster and better. Saturday, August 31, 13
4. Slides will be available at Speakerdeck.com/boo Saturday, August 31, 13
5. Shift Age(started 2006) • Everyone is a Free Agent - Serial Employees. • Individuals define themselves by what they do rather than whom they work. • Power transferred from institutions to individuals because of explosion of choice, from hierarchies to networks and electronic connectedness. • Desktop shifting to Mobile, Jobs shifting overseas....you get the point. Saturday, August 31, 13
6. Same job 4 companies • Joined Metrica 2005 • Acquired by Watchmark-Comnitel. For a while, I worked for Watch-Me-Come. • Watch-Me-Come rebranded to Vallent. • IBM acquired Vallent. • Left 2008. Saturday, August 31, 13
7. Same job 4 companies • Gone through couple of M&As. • Learned about ‘fattening of the pig’ process to make company potential exit for acquisition. • Learned about importance and differences of cost and profit centers. • Ditched “job” for the unknown... Saturday, August 31, 13
8. Inspired by Lord Of War(2005) to quit my job and become jobless... Saturday, August 31, 13
9. From Lord Of War • Learned about what NOT TO DO.(drugs, gun running, etc) • Learned about what TO DO.(don’t give up, spot opportunities, etc) • Sales solves everything. • Strong desire will get things done regardless of the obstacles. • Obstacles of progress such as rejections are there to help.... Saturday, August 31, 13
10. Obstacles during Progress... • Rejected by MDec RM150k funding. • Lack of domain knowledge. • Lack of mentor. • Met couple of conmen, time wasters, etc... Saturday, August 31, 13
11. Strong desire.... Saturday, August 31, 13
12. Progress during Obstacles... • Learned that you don’t really need government and proxies help to start. • Learned to manage cash flow and hack credit cards to bootstrap. • Mentor can be found online - Youtube, blogs, (yongfook.com) • Yongfook’s opensourcefood.com proved that individual can accomplish something. Saturday, August 31, 13
13. On Money(just a guide) *useful as decision making tools on fund raising. • Money 3 interfaces with a human being : PROBLEM, RELATIONSHIP, SPIRITUAL • PROBLEM : Don’t have or Have too much Money. Which type of problem you want to have ? • RELATIONSHIP : Work for money or money works for you. Which one you prefer? • SPIRITUAL : Is your money or your investors money is being use for greater good or bad ? Saturday, August 31, 13
14. Ecosystem Players. • Investors/Mentors = Honey bees and fruit flies • Startups = Flowers & Venus Flytrap. • Honey + Flower = Money & Pollination • Trap + Fruit Fly = Waste time & Resources.(which is a good thing) Saturday, August 31, 13
15. Good startups • like flowers • blossom to attract honey bees and unfortunately sometimes attracted fruit flies instead. • honey bee = genuine investors/true capitalist. Grow with you for long term • fruit flies = fake capitalist Saturday, August 31, 13
16. Bad startups • like venus flytrap a.k.a grantrepreneurs • opens up to attract insects and unfortunately sometimes attracted good honey bees instead. • fruit flies a.k.a fake capitalist interested in short term gain. Grow in you and might kill you or your startup. Saturday, August 31, 13
17. Signs of Healthy Startups Ecosystem. Saturday, August 31, 13
18. Signs of Unhealthy Startups Ecosystem. Saturday, August 31, 13
19. “Successful startups ecosystem depends on successful pollination between real entrepreneurs and genuine investors.Just like flowers and honey bees” Otherwise, it will be an orgy between fruit flies and venus flytraps...... Which ones you rather be in? Saturday, August 31, 13
20. Thank you! Check out Joblogy.com Commercial message: Saturday, August 31, 13