Singapore Entrepreneurs Network & Startup Organization

Well they did mention that they would subsidise their business consultation somewhere. So means there is some business consultantion fee somewhere inbuilt. Though its weird especially if they are giving you $100k. Maybe they apply for grant from IE singapore. *shrugs*

Pls do note that Good Idea's office address of 32 Maxwell Road #03-07
White House is that of the virtual office provider www.virtualoffice.com.sg

So Justnormal, being the HR manager, do you have an office or desk?

Btw...advise that the copywriting on www.goodidea.com.sg be improved. Bad english and errors..=P

My 2 cents as devil's advocate.

Hi Adsighted,

Visited your website and the graphics that you used for your headers for different pages are nice. However I have some constructive comments which you might want to consider. The overall colour combination of your website seems to lack that omph.

Its not corporate (it need not be of course), but neither does it seem to be those wacky daring colours that gives the impression that your company is creative. Pardon me but for example white words on black background is rather taxing on the eyes. You might want to rethink your colour combination to give the exact impression that you want to potential customers. How does your company differeniate from the rest. A webdesign (one of ur services) core example would be its own website. Its the acid test of what sort of design the potential customer might think you will deliver. Perhaps you can do great designed websites which are SEOed. But the perception and impression from your company's website doesn't say it.

There's a my yahoo auctions banner at the top main page also. Having it there does give a more amaturer feeling to the company. The customer might be thinking: what is this company abt? selling stuff on auctions also? If u position urself as a freelancer, yes its still torleratable. But if you want to be known as a professional company, then you have to be focused.

Of course even if the improvements are made, then you are taken at the same event as other professional webdesign companies. But at least it levels the playing field.

Please do not take my comments as pouring cold water on you. I have no such intention. All of us are constantly improving through the suggestions and advice of others. If you find it logical, accept them. If not throw em away.

My 2 cents. =)

LOL. Are you that much older than me? =)

Precisely which is why I said that u need not post the whole business plan if you read my previous posts properly. But was just suggesting that you disclose abit more to whet people's appetite abit more. Done your homework on me? Wow thank you for your attention, didn't know i was that interesting.

As for people using your business plan, I guess thats what most people in the industry are afraid of. What they do not know that whatever idea they have is seldom unique, within Singapore there would be 10-100 with the same idea, 1000 in the region and 10,000 all round the world. Hence my earlier posting of the importance of execution being more importance. But thats besides the pt here.

Congrats on getting interested parties then. =)

My purpose for posting? I was playing devil's advocate by pushing and proding harder for the benefit of everyone. Of course if one cannot take constructive criticism then what can I do? *shrugs*

Operated any businesses? Hmmm...I've been in several ventures that failed. Took em as learning lessons. Am doing much better now. If you want, we can always meet at my office to chit chat. Probably coffee or something...

Haha shall we call a truce, this is really a waste of time and I should be knocking myself for replying. lol. All the best with the investment!

Ouch! That felt like you were hitting below the line. But guess thats what happens when rationale and logic leaves the room. =P

Ermm... i'm sorry. I presumed that you were trying to attract investors through facts and figures because that was all that you posted initially. So no idea what u are driving at.

I was just trying to help out to prod you to disclose slightly more information. Afterall, lets face it. It is unlikely that someone with 200k, after seeing your post wouldn't bother to find out more. You attract different people of different stature through different methods.

Well its good to know that at least now you revealed more information. =)

I am glad that you are glad that i am not interested. I do not know what made you presume that my family is rich and I cannot make head of tail of what you are trying to say with "I know your family is rich but not everyone can make it to be a successful businessman just becoz you are a rich fella"

I'm really sorry but I seriously do not quite get you. Perhaps we are talking on different wavelengths. Pardon me

Hi Fei,

Ah yes true true. You can contact serious investors or partners and fill them in on the details. But just felt that using numbers to attract investors or partners won't really attract quality responses. Not expecting you to disclose the whole business plan either, but just some aspects of nature of industry etc if possible.

But nah at the end of the day, I'm not interested. =P
All the best with it though

No offence Fei,

But great business plans are a dime a dozen, anybody can write anything good and give nice projections and numbers. Maybe u wanna consider disclosing more information with regards to the business nature.

I realised that at the end of the day, the execution of the business is whats most important, even if the business idea is medicore.

No no I'm not saying that the discount is too small or whatever. But it would be better if we at least have a rough gauge on how much the standard PC repair charges are. Reformating, etc. Of course changing of parts would be additional cost.

For example my regular pc repairman charges $60 per problem solved. If parts are needed then additional cost. So if he was to say there's a $10 discount off, I would know ahhh..its $50 now.

Ceteris paribus, I am just merely trying to point out that when you offer a $10 discount off, it has to be in relation to something so that people can relate to it better.

Was talking abt the website coz I was checking to see whether there was any charges to relate again to the $10 discount. After all, some companies charge premiums while some don't. So the $10 discount off has a significance depending on the charges you charge.

Some might know you, some might not. For those who do not, then the $10 discount without additional information means nothing much. Thats the main point I'm trying to bring across.

Hi Edward,

Hmm..abit hazy dun u think? $10 off what amount then?
Can be $10 off $30 , $40, $50 and whatever.
Your website also doesn't list any standard charges. True some services varies but if no base to compare. Then the $10 discount doesn't have any appeal. =p

Let's set STRETCHED goals here. =)

Now until 31st Dec 2006
- Portfolio websites earning 15k profits a month in total
- Hire 2 staff
- Securing 4 projects (1 a month starting sept)

3 Years time
- Bigger Office
- Having 10 man team
- Company profits averaging 100k a month
- Portfolio websites earning 50k a month
- Authority in iBranding & Retail Internet Marketing
- Mentioned, featured at least once every month continously in periodicals
- My turn for a shot at SOE (after referring pple there its my turn eh) or other awards
- Upgrade the MR-S to a Porsche Boxster

10 Years
- Settle down
- Worth over $50 million
- Multiple investments in startups (shot at being a billionaire)
- Written a bestselling book

Hi Hossy,

With regards to your website selling such a huge variety of items. I think it might be a tad hard especially when most of the products/services aren't related in anyway. It seems more like an auction website (aka ebay,yahoo) or just a classifieds website. In terms of mindshare, others are already established already and your website would not have a USP.

IMHO its better to find a niche and sell products based on that. You can still have a variety of related products. And then build your USPs around this. This seems like a much more actionable plan.

Just my 2 cents...=)

I beg to differ Taymastery. If you took a look at Uncleken's website it doesn't make sense to even place adsense and promote his competitors when the main bulk of profits come from his own services and products.

Having adsense in might also bring down the professionalism of the site in this case and makes the potential consumer wonder whether the business owner is for real.

Adwords and adsense. Its not a 1 size fit all in my opinion.

Glad that you managed to sell your tickets.

Thank you for your compliments. But I haven't accomplished anything great yet. Still very much a work in progress.

All the best for your future endeavours. =)

Pardon me but ain't those prices abit steep? Gold tickets were sold at last year's NAC at $150+ yah.

In fact with time ticking down to the event tomorrow shouldn't the prices fall since possibility of it becoming worthless is growin higher and higher every minute? heh. =P

Hi James,

Ncknight listed out a very good point. You have to differeniate yourself from competitors or substitutes(replacing the fone) with other factors besides price.

Cheap & Good is not a very unique selling proposition. Especially you have to check whether your pricing makes sense with all the potential costs incurred. You cannot survive having the lowest price, offering long warranties and pay high rent.

Coz you wanted that you would like to start in a prominent mall or city area, rental is most probably going to be really steep. Like what takeshi mentioned, maybe other services would be needed to ensure that you can turn a profit. Suggest that you do some basic breakeven analysis to see how many repairs or other services you might need. Is there enough demand for such services? At least around where your potential shop space would be. The retail business is no easy feat.

For rental of shopspace, its usually 3+1 for rental. 3 months deposit and 1 month advance rental. Hence these are all important considerations when starting a business.

Why buy?

Read the cover story here. http://www.businessweek.com/magazine/content/05_49/b3962001.htm

Cheers...=)