Article Contributed by Joshua Sim of Singapore Start-up Forum
If you talk to people in Singapore, and ask them about entrepreneurship, you get varied responses.
“Hm, the government is encouraging more people to start business. They are giving more grants and making the registration process easier I heard.”
“Good thing young people like you are starting businesses and reading books to help you. Even if you fail, you still can get back up and do it again.”
“Entrepreneurship is not for everyone. I’m too old for it anyway.”
Most Singaporeans will know what entrepreneurship is, however, few practise it. Apart from small food stall owners, most Singaporeans have a “regular” job. The number of entrepreneurs is estimated to be less than 2% of the whole population.
The good news is that this figure is growing. Thanks to the government’s encouragement, grants, and companies that help teach and promote entrepreneurship.
To these budding entrepreneurs however, a question lingers in their minds. “Where can I find business partners or even a mentor to aid me?”
It is at this point in choosing team members that budding entrepreneurs make an error. They ask their casual friends to be their business partners. The problem with this practice is that some of these friends are not very keen on being business people, and may not have the same goals and dreams as the team leader. These friends may not have the proper skills or business mindset, calling it quits after the first failure. These differences make team synergy impossible, and instead lead to arguments and break-up of the company and team.
Only like-minded people, those with the business mindset, skills, desire to earn, desire to add value to others, or at the very least the interest in creating a business, can and should band together to start an enterprise. Be they good friend or mere acquaintance, only with this interest in business will they make good business partners.
Finding business partners alone is only one problem budding entrepreneurs’ face. Even more challenging is to find business mentors, who are even rarer. Criteria for being a mentor, means having the winning mindset, the business sense, plus having “been there, done that”. Most mentors, who still own and run their own businesses, will not be time free to take care of a ‘disciple’.
As such, there have been cases where the disciple works for free, just to learn the ropes of the business. Much like the jewellery crafters of old. Many budding entrepreneurs may find this practice very unappealing as they may have a full time job to take up most of their time with, let alone start a business. The only few who can work for a mentor for free, are the youth. The students who can still depend on their parents, and work to learn from mentors.
Luckily, some entrepreneurs are trying to help their own kind. Entrepreneurs have build businesses, helping other entrepreneurs get on their feet and move onward. There are entrepreneurship “schools” such as the Entrepreneurs Action Programme by Executive Directions (www.exec-directions.com). Others provide “networking night” or other networking groups that can meet up as often as weekly to monthly.
All this goes to help budding entrepreneurs learn the ropes, and get connected to others to each other.
Here at our own online forum, Singapore Start-up Forum [SSuF], we aim to be the online platform for entrepreneurs to connect, communicate and network. We believe that entrepreneurs should stick together and learn from each other. That way, we all can grow at an even faster pace. This is also called “learning leverage”. Do visit SSuF at www.ssuf.biz and spread the word around. We want all the entrepreneurs and mentors of Singapore to gather at a hub to maximise the benefits of networking and learning from each other.
Hopefully with all these services available, entrepreneurs will have an easier time finding business partners and mentors. If not, entrepreneurs can all hope to find friends who have the same interest in business as them.
Good luck all you entrepreneurs out there, and happy business building!
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