Building a Business

by Jolyn Chua (Singapore)

Only actions can get our business plan going.
Never leave out the financials or think that it is unimportant.
Ensure that the key roles of marketing, technical and management are filled first.

Setting a task or goal weekly is a good way to move forward.
Teamwork is essential even though individual members have opposing views.
Investors look for a sustainable unfair advantage to determine whether to invest.
Commitment is long term.
Keep on networking ? it opens doors.

Angel investors, family and friends should be looked to first for seed funding.
Taking risks is part and parcel of entrepreneurship.

Always think about potential takeovers dangers beforehand and introduce pre-bid takeover measures.

Think carefully about the implications of the type of incorporatation you choose.
Ideas might change (completely even) for the better over time.
Make employees, partners and investors sign your Non-disclosure Agreement (NDA).
Exit strategy