Category Archives: Tools

The Start-Up Entrepreneur Series! Part 1!

The Start-Up Entrepreneur Series Interview Campaign! Part 1

 

(A) Getting to know The Start-Up Entrepreneur

Choong KarFai1. Tell us more about yourself – Who are you, what do you do, what are your qualifications (If any) and what have made you into the successful entrepreneur that you are today?

My name is Choong Kar Fai. I obtained my Bachelor of Mathematics (Information Systems) from University of Waterloo and MBA(Entrepreneurship) from University of Louisville. I wouldn’t say I am a successful entrepreneur(just yet) but I hope to be one in the very near future. I would attribute my success to positive thinking and passion. I am running 2 related companies, one of which is a MSC awarded company.

2. Why did you get started on this path towards building your own business?

I have always been techy and I have always taken pride in the solutions I provide, especially system related solutions. My passion to use technology to enhance or change lives the way Apple does it. This has been one of the reasons I started my own business.

3. Was there any inspiration or anyone who inspired you to pursue your dream to become an entrepreneur today?

As cliché as it may sound, Steve Jobs certainly was an inspiration. My father is also my inspiration, he built his business by sheer hardwork.

4. In your experience, what are the 3 Winning Traits that Entrepreneurs should possess when they start their business?

Passion, Hardwork and Persistence

 

(B) Getting to know about The Start-Up

Omniphics1. Tell us more about Your Company – What have you built? What is your product or service to your customers? What is your track-record so far?

We have a few solutions namely OunchKiosk (interactive info kiosk with swipe gestures), OunchKIT (platform that keeps relevant information together), OunchScreen (Screens that play video and slide show concurrently), OunchTag (QRcodes and nfc enabled tag) and OunchScan (QR code reader on iOS). All these Ounch Solutions may seem isolated but they are inter-connected and there is a purpose of it when the time comes. I have tractions for all the solutions mentioned, some of my clients are from Singapore.

2. Why did you decide to go into this business? Is it because it is a lucrative market? Is it a Blue Ocean which your talents and expertise through your business can provide?

I saw a need and I endeavoured to meet the need, that’s how I decided to go into this business. It is definitely more of the blue ocean where there is a gap in that our talents and expertise can meet the need.

3. Please share with us, when you established your organization during its early days – How did you fund it? Any tips on raising the funds? Any tips on convincing investors?

It was from my savings and I was fortunate to have some financial backing from my family. There are many avenues to obtain funding such as MDeC’s grant and Cradle Funds, etc.

4. Where do you see your business growing into, for the next 5 to 10 years?

I hope that my solutions will be widely adopted by businesses and end-users, not just in Malaysia but globally. Maybe Google will take notice and we get acquired… ;)

5. What is your vision for the industry that you are in? Do you see a trend coming up that your business can capitalize?

Smartphones penetration is increasing at an alarming rate. Mobile internet is touted to overtake desktop internet in the coming years. These are all in line with my business solutions.

To be continued… The Start-up Entrepreneur Part 2

 

oDesk vs Elance vs Freelancer and 99designs

Online global outsourcing is growing at a rapid pace with a projected growth of over 40% for the industry. The biggest platforms are oDesk, Elance and Freelancer. 99designs is really in a different category as it’s a crowdsourcing site more focused on design, whereas the other platforms encompass any type of online work.

In this infographic we compared the funding received, number of freelancers and jobs posted, percentage they charge and cumulative earnings of freelancers. Great information if you are interested in the online outsourcing space!

UPDATE: We have a comment from Matt Barrie, CEO of Freelancer. I have posted it here as it points out that some of the figures in the infographic (based only on publicly available information) are inaccurate:

“The graphics are neat but the numbers sourced for the infographic are way off. Freelancer user earnings are much higher. vWorker alone had $140M in user earnings before Freelancer acquired it. Also the commissions are 0-3% for employers and 0-10% for freelancers, not 13%. At 3% for freelancers, this is the cheapest by far for a freelancer doing any volume. The amounts raised by all companies is also incorrect. Elance and Odesk have raised significantly more than reported by Crunchbase and Freelancer hasn’t raised anything near $40m. Freelancer hits 8 million users today.”

Staff.com - Comparing the Big Outsourcing Platforms Infographic

This Article was originally posted at  http://biz30.timedoctor.com/odesk-vs-elance-vs-freelancer-and-99designs-infographic/

10 Biggest Franchise Business Industries (Trends in the USA for 2010) for Asian Entrepreneurs

The most successful franchises are often looked and hunted upon by savvy entrepreneurs overseas, in order to be brought back to their respective local markets. Trends and research done in the United States, among its 100 million strong consumer markets on booming franchise industries and sectors would offer insights into Asian entrepreneurs who are quick to learn and adopt successful franchises abroad that can be done for their home markets. Continue reading 10 Biggest Franchise Business Industries (Trends in the USA for 2010) for Asian Entrepreneurs

3 Success Strategies of Sir Richard Branson

Iconic to entrepreneurs and business owners from across the world, Sir Richard Branson has not only been a successful entrepreneur with inspiring success stories to share. But rather, he has also come a long way through many business ventures which may not have worked out throughout the years. For an entrepreneur who embraces Risk and the ‘Screw it, Just Do It!’ attitude, he is still doing just that!

Continue reading 3 Success Strategies of Sir Richard Branson

Effective Tax Planning for Business in Malaysia

This is the time where businesses will be looking for effective tax planning strategies to help them to document their operations accordingly. The season has finally arrived where businesses, entrepreneurs and companies will be filing in their annual tax plans in June for all registered Malaysia based businesses.

Continue reading Effective Tax Planning for Business in Malaysia

11 Franchise Business Steps

One of the most luxurious venture that an entrepreneur can pursue with hassle-free worry about systems and branding campaigns, would be to purchase a Franchise Business or become a Franchisee for established businesses. Launching a franchise may require entrepreneurs to invest some amount of capital to acquire the rights towards the brand, the products and services and the processes in which it conducts its business. Seeing how franchising is a growing trend in most emerging markets in Asia, here are 11 Steps that Entrepreneurs Must Know when they decide to Open a Franchise. Continue reading 11 Franchise Business Steps

Famous Women Entrepreneurs traits to follow

Understanding how Famous Women Entrepreneurs behave in a business setting and what would motivate them to consider using your products, services or even forming a partnership with your business is rather catching up in most business development considerations. As the movement to empower more women to become Entrepreneurs sweeps across the Asian region, it is only timely that entrepreneurs further work to understand the dynamics of working with their female counterparts in the world of business. Continue reading Famous Women Entrepreneurs traits to follow

USB Drive Inventor & Light Field Camera Inventor, Malaysian success abroad.

Many great inventions came from the west in the early days. Inventions, back then, were strongly acquainted with technology and the many ways of improving lives through machines and gadgets. Little do we know that the shift in creativity and innovation would arise in Asia so quickly and with more discoveries that simply shook the western world in this new era. Highlighting on technology alone, we would easily forget the very equipment that we use so very frequent, even literally carry in our hands, the USB drive and a little more about the USB drive inventor.

Continue reading USB Drive Inventor & Light Field Camera Inventor, Malaysian success abroad.