More young people are now keener on entrepreneurship, with some even taking the plunge to start their own businesses as soon as they leave school.
Universities such as Nanyang Technological University have responded to the trend by introducing tie-ups with companies to help students be more innovative in tackling real-world business challenges.
Events celebrating young entrepreneurs, such as the Young South-East Asian Leaders Initiative (YSEALI) Summit held here last month (December 2018), also help to cast a shine around such career choices.
More importantly, graduates start to see start-ups as a way to rise through the ranks, because corporations are starting to hire people who have had start-up experience.
ENTREPRENEUR BALANCES RISKS AND CONSEQUENCES
Entrepreneur Lee Pin Qi already had three start-ups under her belt by the age of 29 – a striking testament to her willingness to take risks and live with the consequences.
Pin Qi believes that she can learn to do anything new. This gave her confidence to venture into something different and yet still aligned with her personal goals.
While she was still in university, Pin Qi started Salt Solution back in 2012, a for-profit social enterprise that conducted service learning training for volunteers and volunteer leaders. This led to her second start-up, Etch Empathy, in 2014, which conducts programmes that help people empathise with others. Salt Solution was dissolved in 2016 to focus on Etch Empathy.
Pin Qi is also the chief operating officer and co-founder of her third venture, Maker Ed Asia, which works with schools and teachers to incorporate new programmes in education. The firm also developed maker spaces in primary and secondary schools, which are collaborative work-spaces for learning and exploration.
The social cause of her start-ups has always been to provide quality education, and therefore charging a reasonable sum for its services is inevitable. While her social enterprises still have to meet the bottom line, her satisfaction comes from the effect on society and not just the money earned.
Said Pin Qi, “One of the things that has brought me the most satisfaction is when teachers, or my clients, tell me that the students remember my programmes at the end of the year. Making purposeful programmes is something I take pride in.”
IF AT FIRST YOU DON’T SUCCEED, LEARN FROM IT AND TRY AGAIN
Joe Tan, 35, served in the military for 11 years and rose to the rank of captain. But he shed the uniform four years ago to enter the corporate world.
He said: “I started off wanting to take a break from work, so I decided to start something that I like. That thing turned out to be Love Action Project, which runs social events that will impact society positively.”
Joe started Love Action Project pro-bono before turning it into a for-profit social business in 2014. However, the early days of being an entrepreneur were not easy and Joe found himself taking on side jobs.
In 2017, he ventured into food and beverage and is now the director of The Tuckshop – Assembly. Last year, he also became the chief executive of Highlight Media International, the commercial event arm of Love Action Project.
Looking back, he said that one of the most important things he learnt was to embrace failure.
“You have to accept failure, and embrace it as a learning lesson. Don’t be afraid to change, evolve and you must persevere.”
HAPPY MIX OF BUSINESS AND COMMUNITY WORK
Veerappan Swaminathan, 33, is the co-founder and director of Sustainable Living Lab, a consulting firm that aims to help other companies and organisations engage in sustainable growth through programmes and technology. The firm provides service innovation and community engagement programmes.
Veerappan founded the firm in 2011 with two friends right after he graduated from the National University of Singapore, having studied mechanical engineering. During his undergraduate years, he took part in 11 innovation competitions. He won seven and used the prize money to set up the company.
It is not that unusual to do business and also try to benefit the community, he noted. His firm has set up a system in which benefiting society and achieving financial profit could go hand in hand.
In 2014, it started an initiative called Repair Kopitiam to tackle the buy-and-throw-away culture by teaching people the skills needed to repair electrical appliances. This initiative combined social inclusion with e-waste reduction and skills training.
Ultimately, inspiring others is what makes him the most satisfied.
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Source: The Straits Times, 21 January 2019