My presentation on Entreprenurship at ACE, SPRING Singapore

The Icon Resources Group An entrepreneurial story

“There is only one way to make a great deal of money; and that is in a business of your own.” – J. Paul Getty, Former oil tycoon and once the richest man in America Actually, its not about money! It’s all about passion!

My background…. Electronics Engineer MBA from Indian Institute of Management, Bangalore, India Worked for 5 years in India – another 6 years in Singapore Took the plunge in 2000

The Icon Resources Group Icon Resources & Technologies Pte Ltd Icon Business Solutions Pte Ltd IRT Computers (India) Pvt Ltd

The Icon Resources Group What we do Business Intelligence Solutions Content Management & Workflow solutions Human Process Management solutions IT Distribution

SME 500 award - 2007

Icon in the media

The 7 golden rules of Entrepreneurship! What should I keep in mind when I start off?

Rule #1 Don’t start off till you are ready Take care of personal priorities Have a clear business idea in place Ensure you have enough capital to last you for a few months Critically examine your ‘burn rate’ Plan your ‘exit strategy’ in advance

Rule #2 Leverage relationships Meet and network with as many people as possible Ask for advice Call in a favour or two Listen to everyone, but do what you think is best!

Rule #3 Keep things simple! Avoid extravagance and frills Keep your business model simple Work on a simple message Control risk Don’t bite off more than you can chew "Business opportunities are like buses, there' always another one coming." s - Richard Branson, founder of Virgin Enterprises

How we simplify things at Icon

Rule #4 Plan to grow organically & slowly Plan to grow, consolidate, grow again Tailor your growth plans in line with capital availability Invest in good infrastructure Avoid ‘loose’ partnerships and relationship

Rule #5 Work on an identity Create a strong USP and differentiate yourself Create a compelling value proposition “Brand yourself” The only place where success comes before work is in the dictionary - Vidal Sassoon, entrepreneur

Rule #6 Position yourself correctly Position your business to show value Don’t focus on too many things Never lose sight of your core business

Rule #7 Uphold the highest standards Be uncompromisingly honest Maintain a high level of integrity Be paranoid about your reputation Be the best at what you do Never stop innovating and learning Consistency outperforms intermittent excellence

Bonus rule !! Never be afraid of failure Without failure there is no success!

Be careful what you water your dreams with. Water them with worry and fear and you will produce weeds that choke the life from your dream. Water them with optimism and solutions and you will cultivate success. Always be on the lookout for ways to turn a problem into an opportunity for success. Always be on the lookout for ways to nurture your dream. Lao Tsu

Thanks and all the best! rakesh@iconresources.com

My presentation on Entreprenurship at ACE, SPRING Singapore

by rakeshchopra on Sep 17, 2009

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My presentation on Entreprenurship at ACE, SPRING Singapore Presentation Transcript

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