Creators of new products in environments of extreme uncertainty, startups face enormous risks.
In the US, about 50% of small businesses fail in the first five years. Insufficient capital, over investment, and low sales are just some of the reasons leading to this sobering statistic.
As a startup owner, what can you do to “growth hack” your business and improve your chances of success?
Image courtesy of MD Journey
Writing is an art and a science. Often, it involves the right alchemy of formula, focus and flow.
Effective writing of internal “pitch” documents is an important managerial skill. Through well articulated plans, proposals and submissions, one can lobby for much needed budgets, manpower or other resources to support one’s work.
Ahh the wonders of 3D. If only we can get rid of those ugly 3D glasses…
Well, apparently, now we can. In a world’s first for Singapore, A*STAR’s Institute of Materials Research and Engineering (IMRE), together with Temasek Polytechnic (TP), has developed a new plastic film which empowers your handheld device to display 3D images and videos. This nano-engineered screen protector allows you to view 3D movies and photos using your smartphones and tablets without needing to wear those pesky red and green spectacles!
Oh the woes of the SME retail sector in Singapore. I’m sure you’ve read or heard about them.
Demanding consumers. Price competition. Sky high rentals. Relentless staff turnover (up to 300% a year in extreme cases). Difficulty in hiring. Competition from big chains. Rising utility costs. Increasing costs of goods. Growing transportation costs.
The list of problems faced by SME retailers is seemingly endless.
Courtesy of Kingford Hillview Peak
To buy or not to buy a condo? That is the question for many Singaporeans looking for new homes.
Riding on one of the most buoyant property markets in the region, private apartments has become one of the most discussed topics here. To slow down white hot demand, the government announced a seventh round of cooling measures on 12 January. More recently, Minister Khaw Boon Wan has also spoken about bringing government-built HDB flats back to their original purpose as homes rather than investments.
Was Borders a victim of Disruptive Innovation? (courtesy of Wikimedia Commons)
Tower Records. Borders. Kodak. Maybe even Research In Motion (RIM)?
The list of casualties to disruptive innovations grow longer each day. By clinging to the status quo and failing to recognise the threats of disruptive consumer behaviours, technologies, or business models, these companies have sounded their own death knell.
GrabCar and Uber has disrupted taxis in Singapore and around the world (Courtesy of GrabCar)
Have you wondered how innovations can be “disruptive”? Or why entire industries can be wiped out with new entrants?
Last night, Prime Minister Lee Hsien Loong spoke about the impact of disruptive innovations during the National Day Rally Speech.
You need the right tool for the job (Swiss Army knife courtesy of Victorinox)
Productivity is one of the main prerogatives for Singapore’s service-based and export-driven economy.
Unfortunately, it is also one of the toughest challenges to surmount.
As I’ve blogged previously, addressing our productivity challenge entails understanding what it means. This involves studying how man, method, machine, material and other means are combined to generate wealth for the enterprise in the most effective and efficient manner. Through the careful analysis and diagnosis of problem areas, organisational productivity issues can be resolved.
Are you a struggling entrepreneur trying to juggle it all, but find it a tremendous challenge?
Well, perhaps it’s time for you to stop, take a step back, critically evaluate where your business is going, and read The E-Myth Revisited.
Din Tai Fung is a paragon of productivity (courtesy of Aroma Cookery)
Business as usual can no longer work in Singapore. We desperately need to change.
While we’ve enjoyed modest economic growth of 1.3% in 2012, and are estimated to experience 1% to 3% GDP growth this year, labour productivity declined by 2.6% last year. This wiped out productivity gains of 1.3% the year before, with the impact felt across manufacturing, construction and services sectors. Only the Info Comm sector experienced growth.
