About Contributor

Ivan Chang
Ivan is the co-founder of Start Now, a startup helping organizations and businesses grow volunteering by providing innovative tools to help track, manage, and coordinate 'employee volunteering activities'. In his spare time, he is off skydiving and volunteering with the Make-A-Wish Foundation.
Hi there Chong, I actually wrote about this in another article: "Revenue, Revenue, Revenue" [http://www.techinasia.com/revenue-mantra-startups/] Given the nature of the Singapore market, all Singapore based Startups need to get wise Day #1. Don't fall into the fast liquidity trap. Open a spreadsheet and have a "burn ratio". Look at it every.single.day.or.hour. We are facing a weird problem here. Unlike in the states whereby good money can sometimes be chasing after bad, here, all money seems to be chasing after a pre-selected range of ideas. VCs by and large are not here for moonshot and they shouldn't be! What success or track record does Singapore startups have in terms of creating moonshots [only exception I can think of now: Pirate 3D Printer]. So yar, its a tough market but not impossible. So brace up my fellow peers and its just gonna get a whole lot more fun! Cheers, Ivan

Commented 2 years ago on

The Dilemma of Building a Startup for the Singapore Market
Hi there Winson, Then can I challenge entrepreneurs in Singapore to not look for quick exits but take a long term, self sustaining business goal?

Commented 2 years ago on

The Dilemma of Building a Startup for the Singapore Market
Hi there Solomom and Jacqui, Thanks for your replies. They are definitely valid and true of Singaporeans and I guess this is where I wanted the conversation to start. But at the same time, I also want to touch about whether Singapore is a great place for foreign born entrepreneurs to set up? I believe not as well: 1. Lack of talent willing to join the startup lifestyle 2. Policies seemed more incline to support locals What are your thoughts on this?

Commented 2 years ago on

The Dilemma of Building a Startup for the Singapore Market
Hi there Neil! Thanks for your comments. That's exactly what I was going for. Its amazing how some try to insist that we are a great base of operations and yet on ground reality is far from that. Cheers, Ivan

Commented 2 years ago on

The Dilemma of Building a Startup for the Singapore Market
@Nima - thanks! Exactly, entrepreneurs in Asia are very focused on the "get rich scheme" and that's not a negative thing but they need to know that Instagram was a fluke, not a validation of success. They got lucky with many good factors that played to them at a time when Facebook needed them. Much like how Friends - the NBC TV shows was a oft-chance success and not a model to replicate. Till today, no other sitcom with a large entourage class worked out.

Commented 2 years ago on

Revenue First: A Mantra for Startups
Thanks Ken! Will ty to write a follow up article on this in 2 weeks time on how we focused on Revenue first and how others can pick up some hopefully useful tips from us!

Commented 2 years ago on

Revenue First: A Mantra for Startups