I think the “entrepreneurship industry” is over-rated. Jollie O’Dell wrote a blogpost about the over-using of the word “Entrepreneur”. I won’t say I totally agree with all the criteria she listed out that qualifies you as an entrepreneur. But I must agree on one thing, why are you afraid to call it a “side-project” or an “idea in progress” if it truly is one? It seems like telling people you have an idea does not give you the status boost that you need? So is “entrepreneurship” now all just about the glamour? Just because there are those that took huge risks and made it, now everyone wants a Hollywood career in entrepreneurship. Through the past six months or so of being involved in Pandamian, I still feel uncomfortable when I/we are introduced or referred to as a “startup” or “entrepreneurs”. I would rather we be called a “startup attempt” or Pandamian as a project. Because that truly is what we are, for now. We are not committed full time, we do not have a proven idea, and most of all, we are not changing the world, yet.
Came across this blogpost by Joash in his Pandamian blog. Totally agree with the over usage of the term “entrepreneur”. Whenever I share about the project that I am working on, I always use the term “project” but not “startup”. I’m not very comfortable with term “startup”, sharing the same sentiments as Joash because there’s a lot of expectation that comes with the term. To me, its always better to say “Owh Im working on this project called Lunchsparks and things are moving slow but steady.” I hardly say: “Im the founder of this startup which i called Lunchsparks” when I introduce the project. Well not quite yet, since everything is still in its infancy stage and we are still putting the bits and pieces together.
For the project that me and my friends are working on, well like i mentioned, things are moving slow but steady. My tech cofounder has been running into some backend problem and some bugs which slowed the whole progress. For my part, I have managed to mine about 700+ contacts which I am manually sorting them out into different interest groups. If things are going as scheduled, we will send out the invitation for Alpha Testing by October, and at the same time start pitching around. =) Do sign up for our mailing list for early invitation to our exclusive networking platform for professionals and entrepreneurs.
One thing about working on side projects/startup is that, if there are no one who commit full time on it, the progress will be very slow. Really, I can totally relate to this. Somehow I feel like school is taking up too much of my time. And one more thing is that, since these kinda projects are not revenue generating, thus, your founding team has to believe in the value that the whole project is generating, and that everyone is working for equity. This was shared by Vincent when he came over to N-House a few nights ago and mentioned that, the concept of “working for equity” if not that prevalent among Singaporean. Usually they want to be paid and opt for a safer option – settling down at a MNC.