Sunday, October 4, 2009

Chee Hong's Tips on Pre Seed

http://cheehoong.com/entrepreneur/basic-tips-and-guide-for-applying-ict-funding-in-malaysia

below are my high lights

Never say there is NO COMPETITION, and thats the most stupid thing to mention. No matter how niche or how unique your product is, your idea is obsolete within the 10 second when you thought of it, and there might be 1000 people already working on it.

1 Plan is not enough. A plan is just a guideline, plan changes. Thats why always have a Plan A, B and C. Put Plan A as priority.

The person to approve your form does not really care about your idea, but theycare more if you have fill up the forms correctly according to their standards.

Do not make assumption on filling up their application forms. Specially on the financing part. example, if the fund does not includes for marketing purpose,

Get support letter from potential customers to strengthen your idea. Call up your potential customers or targeted markets, present to them, get feedback and get a support letter from them.

Get a Sales and Marketing Partner, some one who could present and up sell your ideas.


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