Startups sharing ideas and seeking validation from others to progress and gain benefits - final part 10

Start building relationships with investors

ENTREPRENEURS are naturally protective of their ideas. Understandably, they keep their ideas to themselves to avoid having them stolen.

Don't keep it to yourself Tell your idea to as many people as possible and seek their opinions. Talk with people you trust and whose opinion you value.

While it is important to protect proprietary information from being copied, entrepreneurs can also gain valuable insight and perspective from feedback before investing heavily in a product that only looks good conceptually.

A startup’s journey is very much akin to running a series of experiments before it finds a path to sustainable growth. A product or an idea should be subjected to validation before it can be tweaked and scaled up to form a viable company.

And what better way to get some form of early validation than to share your ideas with like-minded people for constructive input.

While entrepreneurs are more willing to share and discuss their ideas these days, this culture of sharing is still new in the local scene.

Seasoned entrepreneurs have found bouncing ideas off other people to be more helpful than harmful. Apart from getting feedback on their ideas, they note that more often than not, sharing connects them with other people who can help fill the gaps and turn ideas into reality.

Additionally, sharing ideas and resources could also help accelerate innovation in a field.

For example, American electric car manufacturer Tesla Motors recently announced that it will be making its patents available to other companies that want to use them.

Tesla chief executive officer Elon Musk explained that the move would help advance electric vehicle technology.


 Elon Musk, CEO of Tesla, unveils the dual engine chassis of the new Tesla 'D' model at the Hawthorne Airport October 09, 2014 in Hawthorne, California.

“Our true competition is not the small trickle of non-Tesla electric cars being produced, but rather the enormous flood of gasoline cars pouring out of the world’s factories every day,” Musk had said.

By allowing the use of its patents, industry observers note that Tesla will be clearing the way for more collaboration with other electric car makers to develop new technologies and would enable the company to take a leadership role in developing standards for the industry and its value chain.

Entrepreneurs are increasingly being encouraged to share and collaborate to innovate and build better products.

And a beauty about being in the present time is that there are more ways than ever to tap into a support network that can provide startups with a platform to share and build on ideas and resources.

Some of these platforms include spaces such as incubators, accelerators and co-working spaces. Apart from being just a shared working station, incubators, accelerators and co-working spaces have evolved into collaborative work spaces that provide entrepreneurs with the opportunity to meet and collaborate on ideas with a host of other people to innovate better solutions.

Additionally, there are various forums as well as startup events and programmes that provide a conducive environment for entrepreneurs to network, share ideas and work together. There are also a number of agencies that are targeted at guiding entrepreneurs with developing their ideas.

Most entrepreneurs still worry about letting on too much on their ideas. But if they can overcome that fear, entrepreneurs stand to gain much from collaborating with one another.

Take advantage of the entrepreneurial community brought together by such platforms to innovate and rather than develop your ideas in silos.

■ This is the final article in a 10-part tie-up between Metrobiz and the Malaysian Global Innovation & Creative Centre (MaGIC) to explore startup ecosystems.

By Joy Lee The Star/Asia News Network

Related posts:

  Startups rising from failure - part 9

“Failure is simply the opportunity to begin again- this time more intelligently.” — Henry Ford Startups can learn much when they do n...

 

SoftBank invests $250M (RM860mil) in GrabTaxi, an Internet company founded in Malaysia

SoftBank Invests $250M In GrabTaxi, Uber’s Archrival In Southeast Asia Not content with leading a $627 million mega-round for Snapdeal...

Endeavouring to give back to startups - part 8

Successful entrepreneurs join forces to fund and support businesses Malaysia has seen quite a number of successful entrepreneurs coming i...

 Startup's components of a support system, govt incentives, market access - part 5, 6, 7

Startups vying for the attention of Venture capitalists (VCs) - part 4

OOI Boon Sheng, founder and chief executive officer of Web Bytes Sdn Bhd, was fortunate to have found a good

•  Playing angel to startups as some successful Malayian entrepreneurs made it big part 2 & 3

• Brewing a startup - part 1

A father’s love for his family

You don’t need words to express how you feel when deeds can clearly get the message across

BEING close to 1,000km away from home by air indirectly means that a lot of times, I will miss out on many celebrations in Kuching.

Earlier this month, the Sarawakians were celebrating Gawai, or the harvest festival in the state.

Although the Dragon Boat Festival is also celebrated here, it is not the same without my mother’s home-made dumplings.

The faster pace of life here coupled with the number of activities I can do keep me occupied and provide me with a sense of fulfilment.

However, when I slow down, I will feel homesick once in a while.

Not long ago, I called my father to tell him that I would like to fly back to Kuching for a break.

He told me to save the flight money and “rest” because he thinks that flying can be a bit of a hassle.

It may sound odd as to why a father would tell his daughter not to go home for those reasons.

Flight tickets are very affordable these days especially during the off peak seasons or when the airlines are running a promotion.

And while it does take some effort to get to the airport, check-in and fly back all that usually takes about four hours (assuming there is no delay with the flight).

For a round trip back to my hometown, it possibly costs me a few hundred ringgit and eight hours of travelling but that, according to my father, is an unnecessary waste of time and money.

“Save your hard-earned money for better use,” he would say.

So, usually, I will fly back twice a year; once during Chinese New Year and another trip will be made as and when I want to.

“There really is no need to come back so often. It is such a chore. All you have to do is call us more often,” he argued.

I did not argue that it would not be the same because my father’s logic is slightly different from others’ and he is a bit stubborn.

“A bit” may be an understatement based on my mother’s standard but that is my father.

A man of few words who sometimes says things that people least expect and to a certain degree, mysterious.

Mysterious in a sense that no one in the family knows what he really thinks and how he really feels.

Sometimes I ask, “Why?”, and he will reply, “Don’t ask so much”.

Surprisingly, asking questions is part and parcel of what I do for a living now.

Compared to my mother, who will show her concern and express her thoughts overtly (and most of the times excessively), my father appears somewhat “emotionally detached”.

My mother is the kind who will impose her values and what she thinks is good on her children but my father appears cool and easy-going with many of the decisions his children make in life.

The difference in their approaches became antecedent to their arguments but my mother will usually have the last word.

When my mother gets angry, we usually know the reason but when my father becomes furious, the cause is mostly unknown.

Hence, that makes me wonder more, “Why?”

I cannot even comprehend the kind of food he loves – duck neck and fish head.

Most people prefer the meaty parts.

After countless “whys” on the subject, I finally realised that, all these are just the ways my father expresses his love.

He leaves the best for his family.

He swallows his pain, conceals his emotions because he does not want others to worry.

It is also because “by default” based on most societies’ standards, a man has to put a strong front to provide for and to protect his family.

His love is in his actions but not words, subtle yet powerful, silent yet beautiful. That, is a father’s love for his family.

> Ng Bei Shan, a business journalist with The Star, salutes all the fathers for being a warrior of their families. She hopes those who are able to celebrate the coming Father’s Day to treasure the moments with their heroes and gently reminds those who cannot make it back home to give their fathers a warm greeting.

 Contributed by  # BAH! Ng Bei Shan
Ng Bei Shan, a business journalist with the Star, salutes all the fathers for being a warrior of their families. She hopes those who are able to celebrate the coming Father's Day to treasure the moments with their heroes and gently reminds those who cannot make it back home to give their fathers a warm greeting.

Related articles:

MRT Line 2 excites market, but contract awards may be a year away

www.starproperty.my

BY NG BEI SHAN. PETALING JAYA: News that the second line of the Mass Rapid Transit (MRT) has been approved excites the market, with big-cap construction ...

Malaysia's GUH in talks for stake in Combodian power plant

www.starproperty.my

BY NG BEI SHAN. PETALING JAYA: GUH Holdings Bhd is poised to take the plunge in the power generation sector by acquiring a substantial stake in Leader ...

Related:

Top 10 reasons why every daughter needs her father

Related posts:

What do fathers want?

FATHER'S Day is this Sunday and the “Sweet and chocolaty message for fathers” in The Star the other day has prompted me to put on my thinking cap on what a father wants for his children, the generations to come, and the ...

A father's lament: The real world is not a game! 

A few days ago, I handed my son a Vinci tablet to try out. This is another well-intentioned product for young children. It comes with pre-installed educational games carefully geared to kids up to about my son's age (actually ...

http://right-waystan.blogspot.com/