THE CICAK.com

PART 2: Experiment a little

By NG KHAI LEE

This article is a quick guide, which discusses the importance of having the right perspective, and provides examples of popular experiments, a few inspirational stories, advice, and some links for further reading.

Defining “Entrepreneur”: The Right Perspective

Don’t bother. Regardless of how you word “entrepreneur,� if you can imagine the attributes of an entrepreneur, and bother to list them down, it sets us on the same page. We also agree that you don’t necessarily have to own your own business to possess similar attributes.

Imagine experiments as “projects” which build on the mentioned positive attributes, embodied by successful entrepreneurs – any hands-on project of any scale, in your room, your school, or even in the business jungle.

Here are examples of projects, some of which might be familiar to you.

• Organising events for student organisations, like charity events, conferences, school trips
• Working an efficiency improvement/ marketing initiative for a family business/ your current employer
• Sourcing/ producing a product for a specific market, be it making your Interact Club T-shirt, or selling Mp3 players informally in your college
• Marketing/providing a service, such as selling your graphic design/ babysitting/ personal training
• Involving yourself and some friends in the process of planning such projects
• What contestants in ‘The Apprentice’ are challenged to do
• Marketing your younger sibling to organ pirates in Thailand

The gains from such projects are enormous, even if you don’t start the next Google:

• You can take your hobbies/ passion to the next level, and maybe make some side income in the process.
• Proof and documentation of project success can differentiate us in the eyes of prospective employers. The keyword - success.

Example: As member of the Cheerleading squad, Liza organised a cheer charity event which raised RM2000 for the Tsunami Fund. She can get proof, like a letter from Tsunami Fund, or a newspaper clipping and add credibility to claims about her “resourcefulness” and “creative problem solving skills.”

It may prove to be a stepping stone to bigger ventures, and bigger success, regardless of whether it is with our own companies, or in big corporations. It sparks belief that we can actually deliver real value to our shareholders, and ourselves.
• It gives you the confidence to create your own wealth, during or after studies, and you know you are better equipped than your cousin who seems to be on MSN Messenger twenty-four-seven to topple Google in the future.

The next section will be helpful for those involved in an experiment, or are planning to dive into one.

Issues of risk, lack of resources, and wasting time.

In an ideal situation, the smart entrepreneur lets others assume the risks and leverages on other’s resources, without sacrificing too much of his/her rewards.

Truth be told, not many are so fortunate, and this article is not about being a con artist.
Anyhow, think deeper about the previous statement about the smart entrepreneur, and read the following general tips. Always share specific concerns with a trusted counsellor, like your parents or teachers.

If you are worried about money (and you should be):

• Make sure your project requires minimal financial investment, or don’t do it
• Work through student clubs and societies, and use their budget (but don’t think about siphoning out profits!)
• Get sponsorship/ financial backing in exchange for advertising/ slave work if your project allows
• Be resourceful, in a sense, be creative in sourcing. Business guru Forest Gump once said:

“Don’t own nothin’ if you can help it. If you can, even rent your shoes.� A more conventional anecdote: don’t buy what you can rent, and don’t rent what you can borrow.

If you feel you lack the resources (and you will at some point):

• Bust your social network! (A friend of a friend might provide what you need)
• Seek help! Contact your university library research assistant, marketing professor, neighbour, online communities, that aunty who won’t stop talking…
• Build strategic alliances! Work with student organisations (find “employees” here!) like a large Scout Troop or a Leo Club full of young, impressionable minds (remember ethics!)
• Find part time work or internships in the industry (if applicable) to “learn the ropes”
• Rethink your project. Is it out of your league?

If you are worried about your time or about wasting it:

• Practise basic time management (don’t let your project consume you) and common sense (stick to simpler projects and save the Google-toppling ones for later)
• Rope in some like-minded people
• Evaluate your project objectively (study the business planning process even though it may not directly apply)
• Have no time? Everyone else has 24 hours a day too. If you can, make the time (cut down on possible “time-wasting” activities you may be involved in)
• Compare forecasted gains of your project with the next best thing you can do with your time (be realistic with the next best thing, don’t say “I will be studying!â€? when in actuality you will be doing anything but…)

These areas of concern may only be the beginning. Don’t be overwhelmed - here are some quick stories that may inspire you:
Entrepreneur Magazine
The Wall Street Journal: College

Everyone has the potential to work on their talents or entrepreneurial attributes. Really, no one is trying to sound nice here (because some may well have much less potential than others) Even if you don’t have any ideas for the moment, keep your eyes peeled, as it may come to you eventually.

If your ideas don’t sound very easy, remember that any project has its obstacles and risks, which can be overcome/hedged against, depending on how resourceful and creative you are. Take steps to plan and forecast (proportionate to what your project is worth) but never skip those steps… it’s like attempting to eat a durian without opening it.

Is the entrepreneurial slant, the investment involved, or effort beyond idea formulation not your cup of tea? That doesn’t mean you are destined to become an ambient TV-hypnotised, Friendster-surfing, social parasite. If someone you know is working on such experiments, support them, learn from them, work with them.

As of 2003, 42 percent of Malaysia’s population is less than 20 years old. The future of our economy depends on our generation breaking free from counter-productive habits and starting to create value.

If more students get their hands dirty with entrepreneurial projects, they can break free from their passive roles, create value for themselves, and help the economy in the process.

Lastly, please shout “ENTREPRENEUR” out loudly in a public place again, like a library. If no one owns up, it is about time we start to worry about our future, get off our young and smooth bottoms, and actually do something about it.

Recommended Reading

• About studying the business planning process, Inc.com goes into considerable detail for an online resource.
• The Volunteer and Club/Association Management Program (VMP/CAMP) online resource - perfect for anyone involved in any volunteer organisation; look here.
• Useful general reading, but beware of what they are trying to sell you… from Entrepreneur mag.
• This has many useful tools that aid decision making; highly recommended.
• Harvard Business School Working Knowledge - always worth a daily dose;
• And here is a good collection of Malaysian News pertaining to management and leadership.

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NG KHAI LEE is the Web developer and promotions manager of theCICAK. He fights for the Malaysian music scene with a Bazooka. See it in action, or visit his site.