Thu Jun 24 09:39:59 CST 2004

The Government in recent times has tried to encourage and foster the Singapore entrepreneur in us. This begs the question, can a Singapore entrepreneur be taught or must it be learnt through experience? Here are some tips that you can use to awaken the hidden Singapore entrepreneur within you.

1. Find a problem that people want to solve

Every successful business idea that is hatched is a response to a problem. If you can help others solve a problem within your area of expertise, you have the making of a business idea. The Singapore entrepreneur is always looking for problems in all fields, in that way the Singapore entrepreneur can always remain open to new ideas. This is the reason why some businessmen seem to start all kinds of related businesses.

2. Use the problem to spur new ideas

Take the familiar story of Alexander Fleming the scientist who tried to grow bacteria but had a problem. His problem was that some mould was killing the bacteria, but he did not despair he found a solution from the problem. He realized if the mould could kill the bacteria, it could kill other bacteria and prevent infection. Thus the line of drugs originating from Penicillin arose. Is your copier getting stuck, your computer breaking down? Use these problems to think of solutions with regard to related problems.

3. Ask your friends and contacts about problems they face in life

The Taxi-Driver, the road sweeper and other menial workers, represent the ears and eyes of the populace in the coffee shops and supermarkets. They can be valuable sources of information to tell you about latest trends and problems affecting the common man on the street. Make it a point to listen to grouses from your friends as they can provide you with ideas to start planning solutions that can sell. Imagine the power of that one suggestion that could start a contingent future idea.

4. To start your off here are some areas that you might want to consider

Common health problems are everywhere thatos why mlmos selling all kinds of medications, vitamins abound. Tuition and educational excellence in Singapore leads many Singapore entrepreneurs to start their own tuition centers.

5. When contemplating the solution try to have a consumable one

Gilletteos boss gave him some advice on what to sell one day. This advice was that whatever you sell has to be consumable and well priced. Gillette went on to sell his disposable razor blades that are so well loved today. Try to find something that works and is consumable so that you can get return customers.

6. Cross discipline approaches work

Ever wonder why sometimes people in Singapore gripe that they never can get it, either they have the idea or lack the business pknowhowq or the other way around. Expand your reading areas, read all you can on finance, science and the area that you are interested in. Using parallel approaches in analysis can help you reach solutions that the pure NUS Science, Arts, Engine graduate will never be able to achieve.