Yeah! Finally I’m here! Woke up at 6am, left home at 7am, met U-zyn at 8.15am, reached custom at 12pm! And finally only reached MSC Cyberport at 12.40pm! Just in time for lunch! Ha!
So now, at 2pm, I’m sitting at the JB wing listening to the founder of Foldees sharing From talking cock at the mamak to creating a business and running it. They received about RM150k equity grant for their idea. Foldees is a similar concept of Threadless, but instead of designing and selling tshirts, they sell greeting cards.
Their Start-up Process
First they’ve the idea, they talk cock to everyone around them to share their idea. And after enough of talking cock they realised that its time to write it down. Where structure is not necessary. Do a quick search for competitors, market and viability. When you’ve got the idea, you try to assemble your team. (So far, his sharing is exactly what I’ve been doing too! Ha!) In the team, you need someone who’s motivated, be able to stay communicate and should have the necessary basic skills for the idea. And importantly, accept that you’re gonna make mistakes and take decisive action.
When the above is done, to push the team to move forward, you’ll need to set a deadline. In fact, you should find a dateline! It helps if you apply for a grant, tie to a rush seaon or have a personal deadline.
Now that you’ve a dateline, a team and your idea, you need to start implementing your management skills. Be decisive and set goals and get the team to coalesce around them. Create tasklists for each member and accept no last minute failures! You’ll also need to manage expectations and motivation. Always have in mind that life is not all about work, remember to play together too!
New datelines and milestones should be created to keep the team’s sense of urgency. Always keep moving the goalpost and take baby progress steps when you feel that the motivation is down. Some ways to do that as suggested is to move into an office, look for more investment or hire someone.
(So far, his sharing has been pretty interesting to me since I’m now somewhere in between all the above too.)
To end the life cycle, wash, rinse, repeat until you own an airline! Woooohoooo!! A few things to watch out for at this stage…
Be prepared for late payments, overwhelming bills and invoices.
- time commitment
Set aside fixed time to meet weekly.
Be impressive (at all times if possible), or at least perform up to the expected level and never fall into the disappointed level
Q&A session and they’re giving out Foldees christmas cards! (Which I tried to order online few days ago but the system hang on me when I was trying to submit my order. )
One asked about the touchy issue of equity. And his reply was, find someone who doesn’t bother about it. But if he does, its also good as this shows that he has real interest and believes in the idea.
Went for a break and a group of campers played an interesting game of werewolves.
Now, replacing a planned session for sharing of “”My 1 Year in a China Web Startup”” is going to be Lightning Talk. I think they’ll generally be talking cock so I’m going to sit near by and see what this is about. Sounds interesting and this session is surely going to be very loud! I hear voices roaring across the room!
Lightning Talk is a 5-min talk by anyone who’s here. And this is a good fill-in session for barcamp events. Interesting and useful concept.
First lightning talk is about Social Networking site – facebook. Ehhh… ya you know about facebook, but he’s sharing how facebook (or any alternative social networking tools) allows him to see who’s looking for a job and who’s looking for jobs. And also how people are communicating and connecting.
A guy’s sharing tips on how to pick-up girls! Hmm… ok I’m moving over to the other sessions…
Now joining the group inside the conference room. Not sure what’s happening, everyone’s watching a video attentively. Video from Frontline World. Video is about how a woman, Grace, raise money for her peanut butter making business. Oh! Ok… its about the website call Kiva. How some who wants to loan/donate small money to entrepreneurs to start the business. Looks interesting, you might want to go check it out.
Jerry Ong sharing How to Utilize Online Social Networking to Built Your Blog Reader and Grow Your Business!.
He’s sharing when’s the right time to post updates to get more eyeballs. Timing usually during the morning office hour, after lunch hour and night after 10pm. He uses chat users online at various sites to check out the right time to ping his updates. Also sharing how one can make use of Ping.fm to spread out a single message to multiple sites. (But to me, this is very irritating especially if my follower on my twitter, facebook, msn etc ping the same information at the same time on all the sites.)
Next he’s sharing to difference between facebook profile, group and page. And wow!! His facebook page for his blog has 1,227 fans leh! Than he shared how he created just for fun facebook groups to gather people and use it to
spam send mass messages out to the group members.
No update for the past hour cause the sessions I want to attend was cancelled. Now sitting in the conference room waiting for How to Improve Ur Perfomances and Unleash Potentials via installing a new mental software. by Lau Kok Pin.
About the presentation…
- a basic understanding of the functions of your mind
- learn about the self imposed limitations supressing your talents and intelect
- understand people and their issues
- understand how to motivate people
Sorry folks… no update cos I’m not paying attention… haha… chairs to comfortable already. 70% of me is falling alseep, 20% of me is trying to check my emails and catch up with reading… and the remaining 10% is trying hard to listen to the presenter. Feeling guilty but I’m sure I’m not the only one.
Yeah!! Bjorn is here! He’s now sharing his one year experience in a China startup which is similar to Second Life – HiPiHi. He was the first to blog about its existence and from there got noticed. And from a coincidental conversation during a conference, he got to meet the CEO and helped him with some translation. One month later, he found himself working in China.
In China, knowledge is power. You don’t need to be innovative, you just need a good idea which may already be there. So why not do a startup which is working well in the states and duplicate it in China.
The way to earn money from China consumers, not via advertising, but selling customisable features, templates, emoticons and themes.
There are many VCs in China looking and investing in web 2.0 startup. Even if they’re not profitable, they’re still investing in them. Those who are able to make money are those in the gaming industry especially WWC.
In conclusion… virtual goods is here to stay. If you can design and do it, go do it. You’ll make money!
Now time for dinner… Mr Daniel Cerventus is sitting opposite with his plate of food and enjoying it lah!! Wah lau eh!!
Ok… time to leave JB and head back to SG. Bye BarCampJB!