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 First Time Entrepreneur, Looking for advices

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TSem0kia
post Aug 27 2015, 08:03 PM, updated 9y ago

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Hi Lowyat Business sifus!

Nice to meet you all flex.gif I am currently doing engineering in my final university year and would like to work with suppliers from China by designing and manufacturing products to sell here. I am still very new in this, and I hope that through this discussion, we can together benefit more forumers who wish to set up their businesses.

I am currently thinking of doing crowdsourcing in Malaysia but I couldnt see any reputable websites for that. Most of them like kickstarter, crowdfunding etc are catered for entrepreneurs in the States. Anyone care to shed some lights? rclxms.gif
wgn_white
post Aug 27 2015, 08:58 PM

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Build a prototype.
Build a community around that prototype.
Kickstarter will be a good platform even if you're not in US.
ShinG3e
post Aug 27 2015, 09:21 PM

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there is kickstarter.my
TSem0kia
post Aug 27 2015, 10:28 PM

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QUOTE(wgn_white @ Aug 27 2015, 08:58 PM)
Build a prototype.
Build a community around that prototype.
Kickstarter will be a good platform even if you're not in US.
*
Thanks for the input.

When you say build a community around the prototype, do you mean explain about your prototype to potential customers?
klthor
post Aug 28 2015, 09:42 AM

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QUOTE(em0kia @ Aug 27 2015, 08:03 PM)
Hi Lowyat Business sifus!

Nice to meet you all  flex.gif I am currently doing engineering in my final university year and would like to work with suppliers from China by designing and manufacturing products to sell here. I am still very new in this, and I hope that through this discussion, we can together benefit more forumers who wish to set up their businesses.

I am currently thinking of doing crowdsourcing in Malaysia but I couldnt see any reputable websites for that. Most of them like kickstarter, crowdfunding etc are catered for entrepreneurs in the States. Anyone care to shed some lights?  rclxms.gif
*
http://www.sc.com.my/crowdfunding/

hope this helps, sc is securities commissions which reports to the government (MOF). but u need at least a prototype and a business plan, u cant go out shouting that i have an idea without details planning and prototype.
TSem0kia
post Aug 28 2015, 10:57 AM

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QUOTE(klthor @ Aug 28 2015, 09:42 AM)
http://www.sc.com.my/crowdfunding/

hope this helps, sc is securities commissions which reports to the government (MOF). but u need at least a prototype and a business plan, u cant go out shouting that i have an idea without details planning and prototype.
*
Hi, thanks for the information. Have watched the video. Kinda interesting!

But does this event limit to only IT startups? Cuz i see in the video itself the interviewee mention only IT related business.
klthor
post Aug 28 2015, 11:03 AM

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QUOTE(em0kia @ Aug 28 2015, 10:57 AM)
Hi, thanks for the information. Have watched the video. Kinda interesting!

But does this event limit to only IT startups? Cuz i see in the video itself the interviewee mention only IT related business.
*
nope i have not watch the video, but its not limited to IT startups up only. SC is creating a platform for everyone, be it investor or new start up.
TSem0kia
post Aug 28 2015, 12:20 PM

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QUOTE(klthor @ Aug 28 2015, 11:03 AM)
nope i have not watch the video, but its not limited to IT startups up only. SC is creating a platform for everyone, be it investor or new start up.
*
Alright. Thanks for the input smile.gif Added this into my to-do list biggrin.gif
wgn_white
post Aug 29 2015, 09:51 PM

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QUOTE(em0kia @ Aug 27 2015, 10:28 PM)
Thanks for the input.

When you say build a community around the prototype, do you mean explain about your prototype to potential customers?
*
Your mindset was asking for crowdfunding.
So your prototype have to be VIRAL.
On Facebook or Youtube or forum.
These are your community.

When you asked them to support, financially...
They are your crowd sourcer.

But then, we have many grants you can apply from Malaysia government.
Even though the officers might not be clean, but you may have some usable funds.
BUT many don't encourage taking grants from government after all.
You're bound to them, etc.
TSem0kia
post Aug 30 2015, 12:48 AM

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QUOTE(wgn_white @ Aug 29 2015, 09:51 PM)
Your mindset was asking for crowdfunding.
So your prototype have to be VIRAL.
On Facebook or Youtube or forum.
These are your community.

When you asked them to support, financially...
They are your crowd sourcer.

But then, we have many grants you can apply from Malaysia government.
Even though the officers might not be clean, but you may have some usable funds.
BUT many don't encourage taking grants from government after all.
You're bound to them, etc.
*
Yeah, i have heard a lot of funds available. As a matter of fact, i am even glad that they have this MAGIC thing that always organize speakers to talk about startups.

But what if my business is just a project? Like a kickstarter project? Because I still dont have any long term planning on the business.. So far i just focus on starting the business. Will the vision come naturally after i built my community? It seems that all the new entrepreneurs knew what they will be doing next (they know what kind of people they need in the business, how to pay employees, where to recruit etc). Sometimes i wonder where do they get these knowledge from...
wgn_white
post Aug 30 2015, 03:20 PM

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QUOTE(em0kia @ Aug 30 2015, 12:48 AM)
Yeah, i have heard a lot of funds available. As a matter of fact, i am even glad that they have this MAGIC thing that always organize speakers to talk about startups.

But what if my business is just a project? Like a kickstarter project? Because I still dont have any long term planning on the business.. So far i just focus on starting the business. Will the vision come naturally after i built my community? It seems that all the new entrepreneurs knew what they will be doing next (they know what kind of people they need in the business, how to pay employees, where to recruit etc). Sometimes i wonder where do they get these knowledge from...
*
What industry are this project you're planning actually?

If it is from creative media standpoint, you can see the end results of the government grants from the animation such as Upin & Ipin, Boboboi and even the Kacang and Sayur.
They are "project based" apply by a group of people which then established a company to realize that project within 3 years.
TSem0kia
post Aug 30 2015, 04:38 PM

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QUOTE(wgn_white @ Aug 30 2015, 03:20 PM)
What industry are this project you're planning actually?

If it is from creative media standpoint, you can see the end results of the government grants from the animation such as Upin & Ipin, Boboboi and even the Kacang and Sayur.
They are "project based" apply by a group of people which then established a company to realize that project within 3 years.
*
I am interested in watches. I want to design my own watches and market via social media. Not a very big dream tho, and i have no clue who to hire and what are the procedures in setting up and managing a company. All these while i only research on watch movements, sourcing for suppliers, design watches and so on until i receive the stocks. I will learn about how to market my product after i finish learning about how a watch move.

One thing that i always tell myself is i have to find relevant mentors to guide me on this but these people/books are very "niche". I dont see much people selling own watches in malaysia. rclxub.gif
wgn_white
post Aug 30 2015, 04:45 PM

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QUOTE(em0kia @ Aug 30 2015, 04:38 PM)
I am interested in watches. I want to design my own watches and market via social media. Not a very big dream tho, and i have no clue who to hire and what are the procedures in setting up and managing a company. All these while i only research on watch movements, sourcing for suppliers, design watches and so on until i receive the stocks. I will learn about how to market my product after i finish learning about how a watch move.

One thing that i always tell myself is i have to find relevant mentors to guide me on this but these people/books are very "niche". I dont see much people selling own watches in malaysia.  rclxub.gif
*
Wow, that's quite very niche market there.
I don't know anything about watch.

But if it analog watches that you talking about I'm not even sure where to begin.

If it about smart watch, you really need to have engineer on your side.

TSem0kia
post Aug 31 2015, 04:33 PM

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QUOTE(wgn_white @ Aug 30 2015, 04:45 PM)
Wow, that's quite very niche market there.
I don't know anything about watch.

But if it analog watches that you talking about I'm not even sure where to begin.

If it about smart watch, you really need to have engineer on your side.
*
Yeah agree. Even analog watches also need engineers.
And I am also puzzled if its a good time to enter the analog watch market with the emergence of smart watch.

I am afraid it will get obsolete.

Anyway, whats your field of expertise? laugh.gif Nice to meet you!
wgn_white
post Aug 31 2015, 06:46 PM

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QUOTE(em0kia @ Aug 31 2015, 04:33 PM)
Yeah agree. Even analog watches also need engineers.
And I am also puzzled if its a good time to enter the analog watch market with the emergence of smart watch.

I am afraid it will get obsolete.

Anyway, whats your field of expertise?  laugh.gif Nice to meet you!
*
I'm creative media people.

Day job is software architect.

But off day job I make music and release albums.
Then make mobile game like tap-tap revenge to feature the songs I made.
Also freelance website developers. Haha
TSem0kia
post Aug 31 2015, 11:54 PM

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QUOTE(wgn_white @ Aug 31 2015, 06:46 PM)
I'm creative media people.

Day job is software architect.

But off day job I make music and release albums.
Then make mobile game like tap-tap revenge to feature the songs I made.
Also freelance website developers. Haha
*
Wow bro!!! Cool!!!! I also got such dream of making music! I got composed some music with FL studio before smile.gif
Mostly rap music, easy to make cuz I can just loop the melody, and alter the other instruments a bit to make the song interesting laugh.gif

But viewing from a bigger picture, i can see that you are integrating the trendy business strategy with your passion, like apply your app-building knowledge into your music hobby. I think thats cool, and I am also learning to do something like this. The question is just to figure out how an app can benefit a watch business (in a creative way).

Web developer? nice! Got portfolio? Can see? laugh.gif
wgn_white
post Sep 1 2015, 10:24 AM

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QUOTE(em0kia @ Aug 31 2015, 11:54 PM)
Wow bro!!! Cool!!!! I also got such dream of making music! I got composed some music with FL studio before smile.gif
Mostly rap music, easy to make cuz I can just loop the melody, and alter the other instruments a bit to make the song interesting  laugh.gif

But viewing from a bigger picture, i can see that you are integrating the trendy business strategy with your passion, like apply your app-building knowledge into your music hobby. I think thats cool, and I am also learning to do something like this. The question is just to figure out how an app can benefit a watch business (in a creative way).

Web developer? nice! Got portfolio? Can see?  laugh.gif
*
If you play real instrument, consider get a Macbook Pro and then use Logic Pro X for your music production.
It'll be fun and who knows can land you some passive income when your music synced into movie or drama series.

Actually, I don't plan strategically plan to integrating the trendy apps making with my music.
Games is my another interest, I just fuse them together.
Instead of using other people's music why don't use my own? icon_rolleyes.gif
It's a co-incident.

Btw, I'm not really a great web dev.
So far only help friends and friends of friends to do their website.
But of course a paid job even though they are friends... whistling.gif

So I don't really put up portfolio.
If you want to see the recent websites I have established, I can send you a private message then. smile.gif

 

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