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One Day Entrepreneur – The Real Business behind the Scene

Posted: October 29th, 2011 | Author: | Filed under: Entrepreneurship, Experience | 1 Comment »

Zac, Calvin, Kitlung, and I made a one-day trip to Capital Square today for an entrepreneurial experience and class.

The speaker was really great, and the way both theories and games were integrated into the presentation made it even more interactive. I would give it a 7.5 out of 10. It’s overall a great experience.

We played a game where we started with 25k and had a bank loan of 100k. The goal of the game was to earn the most money considering stuff like products, factories, employees, salaries, branding (marketing and advertising), RnD, and other costs, such as taxes and bank interests. The lesson from this game: don’t be penny-wise and pound-foolish. Among the key takeaways from this one-day trip are as follows:

  1. Very interesting stuff that I learned today. Many companies’ main revenue streams do not come from what they appear to in public. Air Asia’s main core revenue stream is commodity trading (fuel gas). Dell’s main core revenue is commodity trading too (chip).
  2. These are things that I can relate. McDonald’s core business is real estate investing.
  3. Another thing that I can relate is what Robert Kiyosaki (writer of Rich Dad Poor Dad) wrote in ‘Unfair Advantage,’ which is that the most brilliant way of earning is earning using other people’s money. What AirAsia or Mutal Fund does is to find a way to collect money from the shareholder/public and reinvest them into the market. What happens after that, I will leave to you.
  4. If you have a brilliant idea, share it with as many people as possible. You might afraid of people stealing your idea. Increase your barriers of entry. (This is similar to what I have heard at the ‘Silicon Valley Comes to Malaysia Top 100 Team Camp,’ which I will blog about in my next post.)
  5. The market now demands instant results. Users might not be the ones who pay for it. Both parties have to be well taken care of. Parents and Kids. These are things not written in the presentation slides. I learn and really enjoy learning the real things happening behind, not known by majority. Next post will be my experience selected as one of the Top100 for the ‘Silicon Valley Comes to Malaysia’ program.