Enabling, Engaging and Empowering Entrepreneurs

Why do you want to start a business

Reasons to become an entrepreneur

Research has shown that personality traits are not the only factors that make you want to start a business, there are also situational and environmental factors.

The following is a model I derived from research and observation:

Why start a business

Personal Factors

If you were given independence and leadership opportunities as a child and you love to solve problems, you have already started your training as an entrepreneur from a young age. You'll love the challenges of starting a business.

As your own boss, you will have control of every single detail in the company, and everyone looks up to you for decision. No matter how old you are.

People who are control oriented find it especially hard to work in a large organization. These people will find immense joy in the freedom of entrepreneurship.

Family Situation
Some people can never be full-time entrepreneurs. I am one of them. Simply because my family situation does not permit that any more. I have five young children and I have no reliable help. I know that I will not be able give my business enough attention if I were to start something big for now. Having said that, I satisfy my entrepreneurial interests through small ventures and giving advices.

What is your family situation? If you have parents, a spouse or friends who can give you financial, moral or emotional support, or you are not the bread winner of the family, then you are well placed to start a business.

Situational Factors

Career Situation
Are you frustrated with your current job? I know many who are.

When I first started work in IBM, Mr Koh was already a second line manager. A decade on, after working for another 2 multi-national companies, he got fed-up with it all and called it quits. At 45, despite having been a Vice President of many large companies, he decided to leave and set up a coffee shop. Today, he is a very happy man frying noodles every day.

Perhaps you were caught in a downturn or just made redundant, or you could be fresh out of college, banker-trained and cannot find a job in the bank. Think you should start a business?

These are common situations that led people to entrepreneurship. If you can identify yourself being in any of these situations, this is a perfect time to try your hands on entrepreneurship. Your opportunity costs are low.Access to Funds
To start a business you must raise enough money as startup capital costs. Above that, you must have enough in the war chest to sustain your lifestyle.

If you have access to funds from the government, wealthy parents or friends, or if you have saved enough to not worry about money during your startup years, you are in a good position to start a business.

Environment Factors

Market Changes
What about the market changes? With the current financial crisis, do you see new opportunities? A new way to do banking? A better way to handle credit and fraud?

In any economic situation, there will goods and services that will be in demand. During this downturn, with time at hand, people are getting hitched and spending more time in the gym.

Consumers now have more time for themselves and their families.

During the 1929 depression, people continued to buy lip sticks to enhance their looks to boost their self-esteem. A few cosmetics houses never felt the effect of depression.

Do all these give you ideas for new products or services?

Technological Change
Some academics believe that the only way out of a depression is through a technological change. (Check out Kondratiev wave.) What's happening with nano-technology, WIFI and green technology, alternative fuels?

If you have access to these technologies, or you simply have a passion in certain technologies, you can start a business to explore the possibilities.

The opportunities are endless.

Brand Identity

Brand Identity is an emotional and/or psychological concept.

Continue reading "Brand Identity"

Maria Mahat

14 July 2014 - it has been about 8 days since the workshop and it was also the day I tendered my resignation. Frankly speaking, I do not know yet the exact

Continue reading "Maria Mahat"

Frank Sim

The two day courses really rock me up, it has changed my view toward everything , my products , clients and market. I started the path of entrepreneur

Continue reading "Frank Sim"

Marianne Su Fang-Yu

Being someone who has no absolute background knowledge on business set-up and finance management, this has been a 2-day brilliant crash course for me to

Continue reading "Marianne Su Fang-Yu"


The past thirteen weeks in EBC class have been very memorable and enjoyable for our team. It has been a rewarding and fulfilling journey coming up with

Continue reading "TickBucket"


The concept of Yumbox started during a brainstorming session by a group of entrepreneurial SMU students who enjoy trying out gourmet food and reading food

Continue reading "Yumbox"

Team Building Companion by Linkedup

Team Building Companion (TBC) is developed based on the fact that sports and social network are both integral to many people’s lives. Created by a team

Continue reading "Team Building Companion by Linkedup"


Outsource Market Research Looking for a thousand responses for a fashion survey? Need some ideas on mystery shopping? Outsource market research processes

Continue reading "Paayphone"

2013 Technological Entrepreneurship

2013 Businesses started in TE class

Continue reading "2013 Technological Entrepreneurship"

2012/13 EBC

EBC Reviews

Continue reading "2012/13 EBC"

2012/13 Spring TWC

Reflection for TWC

Continue reading "2012/13 Spring TWC"

2012/13 Spring Technological Entrepreneur

TE Class reflection

Continue reading "2012/13 Spring Technological Entrepreneur"

TWC-2012/13Term2-Gerald Ng Ghim Yap

Looking back at each of my TWC lessons, I have definitely gained a lot of valuable knowledge. It was not just about textbook concept and theory; it helped

Continue reading "TWC-2012/13Term2-Gerald Ng Ghim Yap"

TWC - 2011/12 Term2 - Benjamin Peter Chia Sim Sen

When I started this course, I think I had some typical objectives on learning more about technology and its interactions with society and business.

Continue reading "TWC - 2011/12 Term2 - Benjamin Peter Chia Sim Sen"

Guest Speaker Norma Sit

Guest Speaker Norma Sit

Continue reading "Guest Speaker Norma Sit"

2011/12 Summer TWC

Reviews of TWC

Continue reading "2011/12 Summer TWC"

Guest Speaker Suresh Shankar

Guest Speaker Suresh Shankar

Continue reading "Guest Speaker Suresh Shankar"

  |  Home  |   Links   |   About Me   |   Contact Us   |   Privacy Policy   |   Copyright© 2009 - Entrepreneurship Education   |