According to a rumor, Samsung is currently in middle of developing its own sitcom.
It is not unnatural for Korean conglomerates to invest into film production, however, a series of sitcom about its own employees?
According to ZDNet, the show will be called The Best Future and the show will star a popular K-pop celebrity Mina from Girl’s Day.
This part-musical sitcom will revolve around Mina, a Samsung employee, and few other young Koreans that wish to work for Samsung.
Korean entertainment, so called Hallyu, has conquered Asia for a long time. Using this strategy it is easy to assume that Samsung is taking advantage of Hallyu and product placement tactic.
Mark Cuban said it the best, “every No brings you a step closer to Yes!”
While it is true that nobody enjoys failure, rejection and losing. It is where humility is established and lessons are learnt.
Failure is a delay, not death. A lot of us confuse that all the time.
There are blessings hidden in failure. Here are 10 examples.
1. You’ll clarify your passions.
Your passion is tested through failure. Your failure can result in your passion diminishing. If it doesn’t, you know where to focus your energy now.
2. You’ll uncover new skills
“Remember when George Bush nimbly dodged that shoe destined for his head? Nobody thought he had the skill to do that. And I suspect neither did he. Until that moment.”
3. You’ll find out who your friends are
Hitting rock bottom is said to have a way of uncovering genuine relationships.
4. You’ll check your blind spots
You’ll never make the same mistakes again. Through failure you understand the mistakes that you have made in the past which led to failure.
5. You’ll burn away pride and arrogance
Humility is built in failure and tested in success.
6. You’ll grow elephant skin
What doesn’t kill you makes you stronger.
7. You’ll never wonder ‘what if’ again
Curiosity killed the cat, and staying in your curiosity will kill your spirit.
8. You’ll finally ask for help
Many entrepreneurs view asking for help as a form of weakness. However, asking for help enables us to grow beyond our own capacity.
9. You’ll go to the drawing board
If it ain’t broke don’t fix it, but you’ll take a minute to re-evaluate the plan once brokeness is revealed.
10. You’ll appreciate your success
A trophy is nothing but a hunk of metal until it represents something. A trophy represents the countless hours of hardship and training which the athletes had to overcome. It is at the end all it represents.
“When you put your index finger into that spirally thing that’s glowing red, it hurts your finger!”
I remember my mother yelling at me, after I had just pressed my finger on the fully heated cigarette lighter. It hurt a lot, and this is a lesson I’ll not have to learn again.
There are types of lessons you’ll only need to learn once, and there are other type of lessons which you need consistent reminder of.
There are things you need to keep in mind when raising funds for your startup, and these are some essential quotes that you may want to get familiar with.
1. Be Prepared
Be prepared to give a lot more away and get a lot less in return than what the headlines might lead you to believe. To determine your target capital number, assume that you will need more than what you think is the bare minimum, but less than what you would ideally want. Then, paint a clear path to returns for your investors, and syndicate the deal out to a handful of angels to ensure that you’re getting the best deal possible.
– Christopher Kelly, Convene
2. Raise Low and Sell High
Take smaller chunks of money up front, and immediately get to work building a product. Keep raising money on your progress. Don’t worry about what the round is called (multiple seed rounds are becoming a standard). Raise what you need to get to your next milestone. Then, get off the fundraising trail and back in the office. You’ll earn a higher valuation later.
– Neil Thanedar, LabDoor
3. Get Industry-Specific
One of the benefits of investment, beyond capital, is the expertise of the investors to help move your business forward. In particular, angel investors often have deep industry experience, as well as connections that you can leverage for the business. I highly recommend seeking out any executive-level professionals in the space who will bring more than just a check to the table in an angel deal, whether your startup targets market research, professional sports, Fortune 500s, the beauty industry, etc.
– Doreen Bloch, Poshly Inc.
4. Build a Relationship First
Don’t wait until you’re raising capital to start building relationships with potential angels. The best ones are looking for “lines, not dots” as well. And no matter how much you’re asking, the better known they are, the more deals they’re seeing.
– Derek Flanzraich, Greatist
5. Examine Angel Backers of Related Businesses
Entrepreneurs often focus on identifying local angels. A better strategy is to create a list of several dozen successful companies that are somewhat similar to your own business. Then, figure out who the early investors were. Those angels will understand the market, have expertise and experiences to offer you and will be more likely to appreciate the product or service you are trying to build.
– Chuck Cohn, Varsity Tutors
6. Focus on Introductions
Where and how you meet an angel investor has a direct impact on the likelihood he will invest in your business. Make sure your angel introductions are from an individual who the angel knows, trusts and respects. The more intimate knowledge the introducer has of your startup, the better the introduction will be.
– Adam Lieb, Duxter
7. Don’t Limit Your Geographical Range
There is a growing class of sophisticated, experienced angel investors across the country (and the world). Today, you are just as likely to find the perfect angel investor in Little Rock or Omaha as you are in Silicon Valley or Boston. Platforms like AngelList and FundersClub are democratizing angel investing in profound ways, as well as exposing entrepreneurs to a whole new class of emerging investors with an appetite to invest anywhere.
– Kristian Andersen, KA+A
8. Don’t Rely on Investors
The best way to get an investor excited about your business is not to need one in the first place. First, build a solid product, then gather as much traction as possible.
– Wade Foster, Zapier
9. Consider Other Options
Understand that there are a few ways to fund your business, and equity funding is one of the more expensive forms of money. Many young founders believe that angel investors are the only way to go; it’s popularized in the startup world and sounds sexy to have. In reality, most angel-funded amounts are so small that alternatives such as traditional loans, credit cards or even money (or favorable terms) from potential customers or vendors are all viable options.
– W. Michael Hsu, DeepSky
10. Minimize the Risk
From an angel investor’s perspective, I’m looking for an investment which will return my money and provide me with a handsome return in the shortest amount of time possible. The decision about whether or not I invest (and what percentage of the company I want) comes down to how much risk I believe I’m taking by investing in your business. The best investments happen when you minimize my risk. You can do this by demonstrating real data (sales numbers, conversion rates, customer value, return rates, cost of acquisition, etc.). Knowing what’s working and what’s not speaks volumes to the angels.
– Charles Gaudet, Predictable Profits
11. Make Sure You’re an Expert
Angels are a dime a dozen these days, so when you do meet them, you really need to wow them. I can’t remember how many times I’ve seen companies pitch angels and completely botch it during the Q&A because they only memorized their presentation and nothing else. If you’re so “passionate” about your company and industry, you better be able to name off the top people, companies and competitors for them.
– Trace Cohen, Launch.it
In a relationship, there are always more than one version of a story.
Different perspectives will interpret the same story in almost the opposite way at times.
With this in mind, an entrepreneur should understand what he/she sounds like from an investors’ perspectives.
Guy Kawasaki, a well known venture capitalist from Silicon Valley, teaches us a thing or two about investors’ perspectives.
“You say: “I have lots of great ideas, but I have trouble figuring out which one to try. Let me tell you about a couple.” Investor thinks: “I want to know which idea you’re going to kill yourself trying to make successful, not which ideas have crossed your idle mind.”” – Guy Kawasaki
“Here’s what you should say [to investor]: “This is what my company does…” It’s that simple. What you’re trying to do is get potential investors to fantasize about how your product or service will make a boatload of money. They can’t fantasize if they don’t know what you do.” – Guy Kawasaki
“You say: “I love to think of new ways to solve problems.” Investor thinks: “Is this a high-school science fair?””- Guy Kawasaki
“You say: “My goal is to build a world-class company.” Investor thinks: “How about you ship and sell the first copy before we talk about world-class anything?”” – Guy Kawasaki
“You say: “I don’t know much about your firm, but I thought I’d contact you anyway.” Investor thinks: “You’re a lazy idiot–why are you wasting my time?”” – Guy Kawasaki
“You say: “The last time I contacted you, I…” Investor thinks: “I’m going to fire my secretary for putting this clown on my calendar again.”” – Guy Kawasaki
Watch what you say, and understand what you sound like!
came across a blog post titled, “How quitting my corporate job for my startup dream f*cked my life up”, and I felt this voice of the author was a good representation of 90% of entrepreneurs’ lives.
When you read the most popular news papers, they seem to exclusively cover failure and tragedy of others.
Perhaps, its because tragedy sells.. or maybe because other people’s failures feed the ego of the readers?
It seems that in the startup world, it is the complete opposite.
Success is highlighted and it seems as if, failures are never talked about. It almost makes starting up look too easy.
Truth is far from it..
As entrepreneurship grew into a buzz word, more and more, corporate people abandoned their promising jobs to start their own company.
The million dollar exit dream isn’t an achievable to 99.99 % of people.
Here’s a typical experience..
Your parents are either painfully silent or constantly calling and asking “Soooo, how is your business doing? Is it growing?!”
Your friends will make comments like, “So how is your startup going? You’ll be the next Mark Zuckerberg, right?”
“Oh man, we are so proud of you and we’re sure you’ll soon receive a huge round of investment.”
Which is supportive, but an incredible build up of pressure..
and to add to that
No one, not even your girlfriend really knows what you are doing..
Day by day, you get lonelier and lonelier as you begin to get detached from your original social circle with nobody understanding what you are going through.. except for couple of other entrepreneurs around you.
Your money starts to run dangerously low as you burn through your savings, and you begin working 80 hours a week to reach success sooner.
The problem of many of the entrepreneurs are, money and public successes are the driving factors.. and for them, the public pressure is much too real.
Sooner or later, they are going to have to learn this; You are no more than a few seconds of attention other people give to a Facebook status. Truth is that nobody cares about you.. so stop focusing on proving yourself successful and focus on YOUR Startup.
Don’t stress out over how you appear to others, just focus on your passion and enjoy the ride.
Written by Eugenie Cheon No comments Posted in Founders Tagged with Cold World, entrepreneurship, Nobody Cares, Startup, Your Own Success
September 11, 2014
Southeast Asia remains attractive for investors
From humor site to drone maker, startup scene in Asia is still attracting a lot of venture capital’s attention.
Here are some of the notable funding activity in September alone.
1. XAircraft, China
Drones are gaining excitement from all over the world lately. Personal drone maker XAircraft announced a US$20 million series A funding round led by Chengwei Capital.
2. Mayi Zhaopin, China
A Chinese startup just secured RMB 3 million in angel funding from Suzhou Tianbang. This startup aims to help SMEs in hiring procedures.
3. Suishouji, China
A Chinese bookkeeping app just raised an unspecified millions of dollars in series B funding.
4. FreeCharge, India
Freebie giveaway service supporting telecommunication companies in India. Company just raised US$33 million in series B funding from Sequoia Capital.
5. Valuklik, Indonesia
Online agency based in Indonesia has secured undisclosed amount of capital from East Ventures.
6. BDC Media, Indonesia
Humor site popular for its viral contents has secured more funding led by Rebright Partners which was followed by 500 Startups.
7. Studio Ousia
A startup based in Japan, known for text-linking service Phroni, has raised JPY 100 Million from Nippon Information Development. The newly raised fund will be used for new products.
8. Uzabase, Japan
A Japanese headquartered service, aimed to overthrow Bloomberg Terminal, has raised JPY 472 million to expand into different parts in Asia.
9. Smove, Singapore
Singapore based startup which delivers eco-friendly cars to passengers has raised US $1.1 million in funding led by Rebright Partners along with 500 Startups.
It seems that Rebright Partners and 500 Startups have their focus on Southeast Asia. Great news for the tech community in Asia.Once upon a time somewhere in Utopia.. There’s an urban legend.
The legend paints this amazing picture.. in which the dedicated service these employees offered to their company has turned them into millionaires.
What a world. What a dream.
What is more amazing is that this is happening around the world.
While it is not a very common situation.. hopefully some of these inspiring stories will spread.
A typical exit scenario usually benefits the founders, and not much can be expected by the employees within a company.
However, listen to this founder who has rewarded employees when their company sold for hundreds of millions.
Jim Payne, the founder of MoPub, is not new to the startup scene. He has worked his way up the ranks before starting his own startup. Knowing what it is like working for startups as an employee, when his company was
acquired by Twitter for 350 million, he has rewarded 36% of his employees with millions.
Payne set his employees up for success by getting them stock early. Also, by offering performance based stock option regularly.
“MoPub offered employees loans so they could exercise their stock options long before an acquisition deal was on the table.”
“The last thing you want is have someone who joined late and is shaping up to be a rock star feel like they didn’t get an outcome,” says Payne.
“People need to remember that employees are putting their career eggs in your basket, and it’s incumbent on you to take care of them when you can. CEOs have more leverage than they think to take care of people,” says Payne.
“You can hoard the whole pie for yourself, but it’s a team sport you’re playing. If you’re doing [a startup] for ego-gratification, I don’t think you’re going to be a great CEO. I think you can make money along the way by being mercenary, but you’ll never truly be great.”
World Economic Forum, headquartered in Geneva, is an international institution committed to improving the state of the world through public-private cooperation.
With moral and intellectual integrity at its heart, it strives to demonstrate entrepreneurship in the global public interest while upholding the highest standards of governance.
One of the initiatives of World Economic Forum is honoring Young Global Leaders from all around the world.
To be included in the Young Global Leaders Forum means that the individual has shown exceptional achievements and contribution to society.
The community provides its members with peer networking opportunity, therefore, enabling them to do more and be more.
214 new honorable members have joined the Young Global Leaders community this year.
Some of the notable names are:
Farhan Akhtar, India, film director, screenwriter and actor
Julia Bacha, Brazil, award-winning filmmaker, peace campaigner and creative director at Just Vision
Leah Busque, USA, founder of TaskRabbit, a mobile marketplace where users can outsource small jobs to others in their neighbourhood
Brooke Ellison, USA, stem cell research advocate, public speaker and the subject of an award-winning movie
Nicolas Shea Carey, Chile, founder of Cumplo, a peer-to-peer lending business, and Start-Up Chile, a government-supported incubation programme
Liu Qiangdong, People’s Republic of China, founder and Chief Executive Officer of 360buy.com, China’s second-largest online retailer by transaction volume, and one of the country’s best known e-commerce entrepreneurs
Michael Macharia, Kenya, founder of Seven Seas Technologies, a leading East African ITC provider
Sabeen Mahmud, civil rights activist, founder of Peace Niche and T2F, and creator of Pakistan’s first hackathon
Rania al-Mashat, Egypt, Sub-Governor for Monetary Policy at the Central Bank of Egypt
Vania Masias, Peru, ballerina and founding director of Angeles D1, which provides dance training to underprivileged children
Karl-Johan Persson, Sweden, President and Chief Executive Officer of fashion company Hennes & Mauritz (H&M)
Hosain Rahman, USA, founder of Jawbone, one of the largest venture capital-backed consumer electronics companies in the world
Charlize Theron, South Africa, Oscar-winning actress and founder of the Africa Outreach Project
Ken Tun, Myanmar, Chief Executive Officer of Parami Energy, with interests in oil, gas, energy, construction and finance
Natalia Vodianova, Russia, model and founder of children’s charity the Naked Heart Foundation
Hayley Warren, Australia, Chief Executive Officer of Halo Medical Devices; invented a device that uses lasers to measure a patient’s range of movement
Consistent productivity is vital for entrepreneurs. When a startup begins to lose its productivity, founders need to do everything they can, to catch the second wind.
Here’s a curation of some of our favorite productivity tips from various sources.
1. Just start. Starting a task makes it easier to finish; our brains are wired to complete tasks.
2. Be unavailable during your peak performance hours, so you can use your energy for big projects.
3. Forget perfection. Get things done. If you aim for perfection, most tasks will never be completed.
4. Wake up earlier. Studies suggest that many successful CEOs start their day before 6am.
5. Have someone keep you accountable. The pressure may be enough to keep you firmly on track.
6. Finish your least favorite task first. This will encourage you to get to the stuff you enjoy doing.
7. Break up your tasks into chunks, and then work until you’ve completed one chunk.
8. Make some time for wasting time. Schedule your breaks so they don’t turn into lengthy procrastination.
9. If it’s a task that will take five minutes or less, tackle it now!
Written by Eugenie Cheon No comments Posted in Other Tagged with Daily, Execution, Operation, Productivity, Tips
September 2, 2014
Entrepreneurship: Power of choice
The spirit of leadership and entrepreneurship is developed through your experiences and your surroundings. And sometimes just by the power of choice.
There’s power in choice. The moment when you say, I’ll do this; whether it is to lead, hate, love or to forgive, there’s a shift in your mind.
Nobody is naturally born with the DNA to be an entrepreneur or a leader. It is all about what you decide to make of yourself.
While there is no cookie cutter approach to success, there are some things that successful entrepreneurs all understand.
Here are 7 things.
1. There is no four hour- or 40 hour work week.
You get out of life what you put in. You reap what you sow. Your reward will be as big as the work you put in.
2. How to focus
Starting a startup is like putting your pen to a blank paper. You have to focus on your goals, execution, scaling then operating. If you are unable to focus each steps to success, keep your 9-5 job.
3. Know yourself
It is important to discover yourself and have an understanding of what it is that you want to do. Too many startups begin at the spur of the moment, then ends up failing because the founder’s passion has gone to a different project. Don’t let the moment of passion guide you, sit down and understand yourself before starting a business.
4. How to influence others
Great entrepreneurs are great evangelists. Their conviction is extremely contagious. Your conviction influences you, and your conviction spreads to your sphere of influence.
5. How business works
You don’t need to be the master of every tasks. But for you to successfully delegate, you must have an understanding of all operations.
6. BS when they hear it
Surround yourself with honest people. It is better to be constructively criticized than to be lied to.
7. There’s no reward without risk
You’ll never succeed as an entrepreneur unless you go all in. Don’t dip your toe in the water to see if you like it. Entrepreneurs put everything on the line to succeed.
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