Entrepreneurship Motivation Study Proposal

STUDY ON MOTIVATIONS

FOR AND AGAINST ENTREPRENEURSHIP

Private & Confidential

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


Objectives

• To understand all :

– Social,

– Behavioural,

– Psychological,

– Demographic factors that motivate or discourage individuals to be an entrepreneur


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


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)


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


Business Associations and Groups


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


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


Some Possible Survey Questions(not exhaustive)


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


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.


Some Possible Survey Questions

• At what age would you consider too old to be an entrepreneur?

– >40

– >45

– >50

– >55

– >60

– >67



• What’s your 1st year turnover?

– Under $100,000

– 100,000 – 250,000

– 250,000 – 500,000

– 500,000 – 1,000,000



• What is your current Business Models?

– Business to Business

– Business to Customer

– Customer to Customer



• Where is your current business premise?

– Serviced office

– Office

– Home-based

– Others



• 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



• 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



• Percentage of your client base

– Government

– MNCs

– SMEs

– Other Entrepreneurs

– Public

– Overseas


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


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


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


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)

http://www.superideamart.com/


Client & Portfolio


Cost Analysis & Milestone

Program Timeline Cost

Design of surveys-Consultancy-Online survey portal cost

Apr $10,000

Pre Survey Marketing NA

Sourcing & Selection of 250 survey participants-Pre survey Profiling-Agreement for interviewers & interviewees--20% more on standby (total 300) @ $30

May – Aug $9000

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


For more information :

• Andrew Chow• Mobile – 65-97771818• Email – [email protected]• 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

mailto:[email protected]

http://www.andrewchow.sg/

http://www.facebook.com/IdeasAndrew?ref=profile

http://ideasandrew.podomatic.com/

http://www.slideshare.net/ideasandrew

http://www.youtube.com/ideasandrew

http://sg.linkedin.com/in/ideasandrew