This is a proposal to SPRING Singapore for The Study on Motivation "For" & "Against" Entrepreneurship in 2010

1. STUDY ON
MOTIVATIONS
FOR AND AGAINST
ENTREPRENEURSHIP

2. Proposal
• Objectives
• Requirement
– Basic
– Recommend
• Sources of Sampling Size
– Business Groups and Associations
• Profiling
– Sample Group Profile
– Sample Individual Profile
• Some possible survey questions to be included
• Integrated Strategies
– Online
– Event
– Phone/Face
– Public Relations
• Scope of Services
• Value-added Services
• About the vendor
– Project Manager’s Profile
– Existing Clients
• Cost Analysis & Milestone
• Payment Schedule
Private & Confidential

3. Objectives
• To understand all :
– Social,
– Behavioural,
– Psychological,
– Demographic factors that motivate or discourage
individuals to be an entrepreneur
Private & Confidential

4. Basic Requirements
• Individual profile – race, age,
education, fear of failure, risk
appetite, income and others
• Culture - face issue, stigma of
bankruptcy and others
• Environment - parents’ beliefs,
parents’ professions, upbringing, peer
influence and others
Private & Confidential

5. Recommended requirements
• Business Environment
– Competition
– Size of local market
– Barrier of entry
• Government Support
– Mentoring
– Funding/Loan Support :
• From government
– Procedure of application
– Information to the right people
• Banks
– Criteria
– Interest rates
• Opportunities
– Networking
– Sunrise Industries
• Others
– Gender issue
– Angel/VC (eco system)
Private & Confidential

6. Sources of Sampling Size
• Spirit of Enterprise
– 950 nominees and 250 honourees
• Signature Club (business entrepreneurs)
– 300 entrepreneurs
• Association of Small-Medium Enterprises
– Entrepreneurs of the Year (5 years)
– Brand Award (5 years)
• Trade Association & Groups
– SCCCI
– SICC
– AMP
Private & Confidential

7. Business Associations and Groups
Private & Confidential

8. Sampling Group Profile
• Industries : 10-12
• Gender : Ideal (50/50), Trend (80/20)
• Stage of entrepreneurship journey
– 20% - Salaried people with previous intention
– 20% - aspiring entrepreneurs
– 20% - 1-3 years
– 20% - 4-8 years and above
– 20% - 9 years and above
Private & Confidential

9. Individual profile
• Bankrupt before?
• Basic profile
– Ethnics
– Age
• Youth (below 21)
• Young entrepreneur (21-26)
• Others (27-39)
• Mature (40 and above)
– Personality Profiling
• D/I/S/C
• Intention
– Innate Desire, Training or Education
• Years of working experience before embarking on
journey?
– 1-2
– 3-5
– 6-10
– >10
Private & Confidential

10. Some Possible Survey Questions
(not exhaustive)
Private & Confidential

11. Reason(s) to become entrepreneur
• Family background
• Academic qualification (lack)
• Economic crisis (loss of jobs)
• Peer support
• Online
– marketing
• SEO
• Social Media
– Public relations
• Plenty of success stories
• Existence of mentors
• Existence of role models
• Passion / Vision / Mission / Calling
Private & Confidential

12. Reasons against entrepreneur
• Financial Risk
• Age factor
• Lack of government support
• Bankruptcy
• Lack of mentoring
• Lack of management and business skills
• Lack of connections
• Lack of sources of funding
• Operating cost in Singapore too high
• Skills – Sales & presentation techniques
• Too much competition
• Local Market is too small
• Lack of entry barrier
• Intellectual Property Copyright
• Lack of understanding of what investors look for
• Lack of entrepreneur training
• Entrepreneurship groups are inward looking
• Unable to leverage on technology
• Difficulties in converting business model into franchising opportunity
• Manpower talents unwilling to work with start up or new company.
Private & Confidential

13. Some Possible Survey Questions
• At what age would you consider too old to be
an entrepreneur?
– >40
– >45
– >50
– >55
– >60
– >67
Private & Confidential

14. Some Possible Survey Questions
• What’s your 1st year turnover?
– Under $100,000
– 100,000 – 250,000
– 250,000 – 500,000
– 500,000 – 1,000,000
Private & Confidential

15. Some Possible Survey Questions
• What is your current Business Models?
– Business to Business
– Business to Customer
– Customer to Customer
Private & Confidential

16. Some Possible Survey Questions
• Where is your current business premise?
– Serviced office
– Office
– Home-based
– Others
Private & Confidential

17. Some Possible Survey Questions
• What advices would you give aspiring
entrepreneurs?
– Believe in your dreams
– Get more working experiences before venturing
– Get a mentor
– Plan your exit strategy
– Others
Private & Confidential

18. Some Possible Survey Questions
• Which Crisis in the past affected you most?
– 1985 – Singapore 1st recession
– 1987 – Wall Street Collapse
– 1998 - Asian Currency crisis
– 2000 - Bursting of Dot.Com bubbles
– 2001 - Sep 11
– 2003 - SARS
– 2008 – Global recession
Private & Confidential

19. Some Possible Survey Questions
• Percentage of your client base
– Government
– MNCs
– SMEs
– Other Entrepreneurs
– Public
– Overseas
Private & Confidential

20. 4 Integrated Survey Strategies
• Online
– Social Media (Portal)
– Survey Money
• Events
– Dialogue - Entrepreneur networking
– Survey – Entrepreneur group survey
• Telephone or Face interviews
– Follow-up
• Public Relations
– Book launch from entrepreneur stories
& result findings
Private & Confidential

21. Scope of Services
• Pre Survey
– Design of surveys
• Consultancy
• Online survey portal cost
– Marketing
– Sourcing & Selection of 250 survey participants
– Pre survey Profiling
• Survey
– Preparation of Agreement for interviewers
– Management of Survey Manpower cost
– Event Management for entrepreneurs & aspiring entrepreneurs
• Post Survey
– Analysis of results based on different findings and parameters
– Filling and Auditing of all surveys into CDs
– 3 Presentation on finding
Private & Confidential

22. Value-add Services
• Ongoing and post-survey marketing
– Social Media
– Business portals/Association
• Public Relations
– Release of results via press releases
– Pitching of media angles and press
stories
– Follow up publication of booklet of
Singapore entrepreneurs’ stories
Private & Confidential

23. Project Manager
• Andrew Chow
– Experience
• 16 years as a serial entrepreneur and small business owner
– Industries
• MICE
• Public Relations
• New Media : Contents, Conversion, communities Building
• Corporate Training
• Personalized Service (social networking, founded 3 portals with over 10,000 profiles)
– Business Awards
• Most Innovative Marketing Initiative (2007 STB Business Event)
• Spirit of Enterprise award (2008)
• Successful Entrepreneur award (2010)
– Certification
• NLP Practitioner
• Certified Life Coach
– Media/press portfolio
• Featured, interviewed or mentioned more than 50 times in 4 years
• Strategic PR Counsel to several SME owners
– Founded
• IDEAMART (1994)
• Ideas & Concepts (2002)
• Table For Six (2009)
• www.superideamart.com (networking for entrepreneurs & business owners)
Private & Confidential

24. Client & Portfolio
Private & Confidential

25. Cost Analysis & Milestone
Program Timeline Cost
Design of surveys Apr $10,000
-Consultancy
-Online survey portal cost
Pre Survey Marketing NA
Sourcing & Selection of 250 survey participants May – Aug $9000
-Pre survey Profiling
-Agreement for interviewers & interviewees
--20% more on standby (total 300) @ $30
Survey Manpower cost (4 x 450 hours @ $15) May – Aug $27000
Event Venue Cost – 4 months x 2 sessions x 40 @ $15/pax May – Aug $4800
Phone bills (1.5 hr x 250) x 20% = 450 hours @ $0.42 Apr to Aug $200
Analysis of results based on different findings and parameters, and auditing Sep $12,000
Presentation preparation Sep $2000
$65000
Ongoing & Post Survey Results – Public Relations Media Pitch May - Sep NA
E-Publishing of “20 Most inspiring Entrepreneur stories in Singapore” – PDF NA
Private & Confidential

26. For more information :
• Andrew Chow
• Mobile – 65-97771818
• Email – andrew@ideamart.com.sg
• Social Media Contacts
– Personal Branding – www.andrewchow.sg
– Facebook -
http://www.facebook.com/IdeasAndrew?ref=profile
– Podomatic (Podcast) - http://ideasandrew.podomatic.com/
– Slideshare (Presentation) –
http://www.slideshare.net/ideasandrew
– Youtube (Video) - http://www.youtube.com/ideasandrew
– Linkedin - http://sg.linkedin.com/in/ideasandrew
Private & Confidential