Comments on: Why i became an entrepreneur? (Part 4) http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/ function me() { return array( PHP, Video Podcast, Podfire.sg, Web 2.0, AJAX, Movies, Apple, Christianity ); } Sat, 22 Nov 2008 01:49:10 +0000 http://wordpress.org/?v=2.5 By: Miccheng http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-142 Miccheng Thu, 26 Jul 2007 06:28:08 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-142 Thanks, Walter. :D Thanks, Walter. :D

]]> By: walter http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-141 walter Thu, 26 Jul 2007 02:41:27 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-141 Great testimony and useful lessons for anybody who wants to take the road to entrepreneurship. I like your tagline of being a serial entrepreneur. It shows that you have the guts, gumption and sheer grit to persevere and take the road less trodden despite already being there. Inspirational indeed. Great testimony and useful lessons for anybody who wants to take the road to entrepreneurship. I like your tagline of being a serial entrepreneur. It shows that you have the guts, gumption and sheer grit to persevere and take the road less trodden despite already being there. Inspirational indeed.

]]> By: Miccheng http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-138 Miccheng Wed, 25 Jul 2007 17:36:32 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-138 <b>BL:</b> Thanks bro. As the saying goes - if 1 out of 10 companies fail within the first year... then start 10 companies! But look back to see what went wrong with the failed ones. One of Robert Kiyosaki's mantra is "Fail early. Fail responsibly". BL: Thanks bro. As the saying goes - if 1 out of 10 companies fail within the first year… then start 10 companies! But look back to see what went wrong with the failed ones.

One of Robert Kiyosaki’s mantra is “Fail early. Fail responsibly”.

]]> By: BL http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-137 BL Wed, 25 Jul 2007 17:15:56 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-137 Hi Michael, Interesting story you have here and I think that the lessons you mentioned are vital to those who are thinking about starting up and moving on. I always try to tell people that their first start-ups are not usually the one which they end up with, just like first loves. :) Hi Michael,
Interesting story you have here and I think that the lessons you mentioned are vital to those who are thinking about starting up and moving on. I always try to tell people that their first start-ups are not usually the one which they end up with, just like first loves. :)

]]> By: Miccheng http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-136 Miccheng Wed, 25 Jul 2007 17:08:13 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-136 Thanks, Webzoomr. Thanks, Webzoomr.

]]> By: Webzoomr http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-133 Webzoomr Wed, 25 Jul 2007 11:37:59 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-133 Kudos from me! Kudos from me!

]]> By: Miccheng http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-132 Miccheng Wed, 25 Jul 2007 06:32:02 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-132 <b>Daniel:</b> Ha ha... i'm a Serial Entrepreneur! I'll be back! Albeit i'm a little lazy at the moment. :D Daniel: Ha ha… i’m a Serial Entrepreneur! I’ll be back! Albeit i’m a little lazy at the moment. :D

]]> By: Daniel http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-131 Daniel Wed, 25 Jul 2007 06:29:08 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-131 We're pretty sure that this is not the end of your entrepreneurial journey! All the best Mic, we look forward to another story of yours. ^^ We’re pretty sure that this is not the end of your entrepreneurial journey!

All the best Mic, we look forward to another story of yours. ^^

]]> By: Miccheng http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-130 Miccheng Wed, 25 Jul 2007 06:28:04 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-130 <b>Michael Lim:</b> The real pain for me came when i decided to quit Comwerks in March 2007. That's another story... Nonetheless, preparing for yourself a viable exit strategy is essential for any entrepreneur - limit your personal liabilities / exposure. I provided an exit strategy for my 2 investors (Melvin & Genie). I basically bought their shares (at a premium) prior to selling the company to Comwerks. <b>Ridz:</b> Ha ha... indeed i'm taking a break from starting up and enjoy a comfortable standard of living. Michael Lim: The real pain for me came when i decided to quit Comwerks in March 2007. That’s another story…

Nonetheless, preparing for yourself a viable exit strategy is essential for any entrepreneur - limit your personal liabilities / exposure. I provided an exit strategy for my 2 investors (Melvin & Genie). I basically bought their shares (at a premium) prior to selling the company to Comwerks.

Ridz: Ha ha… indeed i’m taking a break from starting up and enjoy a comfortable standard of living.

]]> By: Ridz http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-129 Ridz Wed, 25 Jul 2007 06:15:35 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-129 Great article man~ It's this side of entrepreneurship that has the most value and should be heard... Thanks for sharing it! Oh, and i don't think you're not choosing not to be an entrepreneur(sheesh, double negatives) because entrepreneurship is really a mindset. Perhaps, you're just..taking time off. =) Great article man~ It’s this side of entrepreneurship that has the most value and should be heard…

Thanks for sharing it!

Oh, and i don’t think you’re not choosing not to be an entrepreneur(sheesh, double negatives) because entrepreneurship is really a mindset. Perhaps, you’re just..taking time off. =)

]]> By: Michael Lim http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-128 Michael Lim Wed, 25 Jul 2007 06:14:44 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-128 Michael, nice series of article. You have a way of narrating the storyline and keeping it on a cliff-hanger while we wait for the next installment. I can understand your frustration and sadness in giving something you've poured so much into. But sometimes, it comes to a point, when you have to ask, at which point do I keep on fighting and when do I give up? Having a clear "exit strategy" or a definition of failure or success really helps. A real hero never dies in battle, but lives to fight another day. Great series! :) Michael, nice series of article. You have a way of narrating the storyline and keeping it on a cliff-hanger while we wait for the next installment.

I can understand your frustration and sadness in giving something you’ve poured so much into. But sometimes, it comes to a point, when you have to ask, at which point do I keep on fighting and when do I give up? Having a clear “exit strategy” or a definition of failure or success really helps. A real hero never dies in battle, but lives to fight another day.

Great series! :)

]]> By: Miccheng http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-127 Miccheng Wed, 25 Jul 2007 05:29:26 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-127 <b>arzhou:</b> Ha ha.... u think too highly of me. Many thanks. arzhou: Ha ha…. u think too highly of me. Many thanks.

]]> By: arzhou http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-126 arzhou Wed, 25 Jul 2007 05:21:07 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-126 Great stuff mic, maybe i will be seeking your advice in the near future. ^_^ Great stuff mic, maybe i will be seeking your advice in the near future. ^_^

]]> By: Miccheng http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-125 Miccheng Wed, 25 Jul 2007 04:29:23 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-125 <b>Herry:</b> It really is... next start-up will ensure i have a healthy dose of OPM (other pple money). <b>nay min thu:</b> Its just sad to have to give up ownership of something i've poured time & sweat into. Oh well... next start-up! <b>Keith:</b> Agree with you on both points. Will elaborate on point 2 that when i talk about why i stop being an entrepreneur... (at least for now). <b>jeff:</b> Thanks bro! Herry: It really is… next start-up will ensure i have a healthy dose of OPM (other pple money).

nay min thu: Its just sad to have to give up ownership of something i’ve poured time & sweat into. Oh well… next start-up!

Keith: Agree with you on both points. Will elaborate on point 2 that when i talk about why i stop being an entrepreneur… (at least for now).

jeff: Thanks bro!

]]> By: jeff http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-124 jeff Wed, 25 Jul 2007 04:24:01 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-124 you are the man! you are the man!

]]> By: Keith http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-123 Keith Wed, 25 Jul 2007 04:23:19 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-123 Great tips for young start-ups and wonderful life takeaway Mic. Ive a couple of more tips too. 1)Do not rush in the search for prospective partners. A poor decision will come back to haunt you even if you are making millions in the first year. Do your research of them like products - like your 40inch HD LCD TV. 2)Have a good assessment of what you really wanted in life. Do not jump into the bandwagon just because everyone else is. If quality time is really what you want with your loved ones, ask yourself if you want it immediately or a chance in long term. Entrepreneur simply do not have time. Be prepared (: Great tips for young start-ups and wonderful life takeaway Mic. Ive a couple of more tips too.

1)Do not rush in the search for prospective partners. A poor decision will come back to haunt you even if you are making millions in the first year. Do your research of them like products - like your 40inch HD LCD TV.

2)Have a good assessment of what you really wanted in life. Do not jump into the bandwagon just because everyone else is. If quality time is really what you want with your loved ones, ask yourself if you want it immediately or a chance in long term. Entrepreneur simply do not have time. Be prepared (:

]]> By: nay min thu http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-122 nay min thu Wed, 25 Jul 2007 04:21:59 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-122 Actually, you didn't fail. You just chose the different path which entrepreneurs would have to take at some point in time - cash out and move on. In fact, this is one of the fundamental qualities of entrepreneurs - building things up and venturing out. I really admire your courage. Thank you for sharing. I have been learning a lot from you. =) Actually, you didn’t fail. You just chose the different path which entrepreneurs would have to take at some point in time - cash out and move on. In fact, this is one of the fundamental qualities of entrepreneurs - building things up and venturing out. I really admire your courage.

Thank you for sharing. I have been learning a lot from you.

=)

]]> By: Herry http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-121 Herry Wed, 25 Jul 2007 04:15:38 +0000 http://miccheng.com/2007/07/25/why-i-became-an-entrepreneur-part-4/#comment-121 Cash flow is the life line of a business. Many times we would overlook at it. Cash flow is the life line of a business. Many times we would overlook at it.

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