Netbash - Lessons Learned
- One of advantages of attending seminars and conferences, e.g. Netbash is interaction between speakers and participants. Can you duplicate the same experience using webinar? The issue is older participants, e.g. more than 30 years old, cannot type as fast as they speak. This will change when people of SMS generation become executives. Nowadays there is people who do not read newspaper, but read news online. That is not conceivable 10 years ago.
- For a few hours, I thought I am in California, land of dreamers. Yes, Malaysia is in the process of another transformation. I admire human beings. When the old rules do not work anymore, they change. I know at least one Indonesia-based web designer that is concentrating on overseas business. One of the challenges ahead is how do everyone adapt to the situation that Malaysia is a net oil importer.
- Even professional venture capitalists cannot be sure whether a new idea will work. Therefore experimentation is required. That is easier said than done. Who is going to pay for it? Below is my opinions on funding
- If you think taping on US venture capital funds is the only way, seriously consider to send a founding member to US or get a US founding member. There is many Malaysians that have studied or worked in US before. This tactic also has been used by many companies of other countries before. Even cost of operating in US is still higher than similar operation in Malaysia, cost is coming down rapidly due to depreciation of US Dollar
- Do not forget about bootstrapping
- Using profits from other business activities(e.g. training, custom work) to fund new riskier business
- Pick a business that you can fund comfortably, e.g. software business
- If your local market is too small, make product/service that has universal appeal.
Participants of Netbash, what do you have to add?
22/5/08 Netbash is mentioned in Singapore Entrepreneurs
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