Penang Road Trip (July 2008)

Before things get busy with my project, I decided to pampered myself for a 2 days 1 night Makan trip with some friends. Sight seeing has never happen along the trip, the main purpose of this trip is all about food, food, food and food. I tend to blog with the foods which we had in the entire trip for the upcoming few entries. Too bad, I forgotten to bring my camera along, the pictures taken with my phone wasn’t that good quality. However, the following is the summary of our schedule:

Watch out for my other entries on the follow up of this penang makan trip. Anyway, anyone got anymore good recommendation of food in penang, drop me a comment here. So that we could visit some other days.

July 30, 2008 | Filed Under Food | Leave a Comment 

Basic Tips and Guidelines for applying ICT Funding in Malaysia

I am just sharing my opinion here, please do not take this as guaranteed information. I considered myself to be a very LUCKY man for being able to secure the Pre seed Fund, although I did a very bad presentation but I was lucky that I brought in my partner with me which he has more experience and to cover my mistakes. From than onwards, I manage to overcome that fear after getting through the first round of interview.

Hence, I would like to share some information here that might be useful to those that are in the middle of applying the fund. No matter which funding option that you are applying for, please be aware for the few issues that I highlighted here. I don’t mind to re-mentioned the tips again.

Info 1) Understand your Business Plan from Top to Toe

I am not an expert in writing business plan, but i had everything in my mind. I am not going to elaborate on value proposition of your business, marketing plan, targeted market, competition, financial plan and technology plan, I believe you know better than me.

  1. Understand your product Niche and Uniqueness.
  2. The Win-Win situation between you and your customers. show it in your plan. show it in your presentation.
  3. Understand your competition. Strategy to tackle potential competition.
  4. 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 No matter how niche or how unique your product is, your idea is obsolete within the 10 second when you thought of it, and there might be 1000 people already working on it.
  5. Show Facts and Figures to support your plan. Research, Research and Research. Google is your best friend.
  6. 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.

Info 2) Filling up the Application Form correctly:

Your application form determines whether you stand a chance to present your ideas.

  1. The person to approve your form does not really care about your idea, but they care more if you have fill up the forms correctly according to their standards.
  2. 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, don’t assume and don’t be so clever to include that when filling up the form. Your application will be rejected due to your clever actions. Assume stands for making an ASS between U and ME.
  3. Call them up directly, arrange an appointment with them, or get a 1-to-1 advisory to advice you on how you should fill up your application. It’s best you fill up the application form first, then arrange an appointment, let them comment on your application, and repeat until you get your form correctly written.
  4. Don’t write grandmother stories for your applications. Be straight forward, and write in point form. Who the hell is going to read your stories where there are 100+ applicants waiting for them to approve. Concentrate on Executive Summary, the interviewers might only read that! but don’t forget the rest of the content as well. (there might be one picky one that reads all of it).
  5. The person to interviews you are the one that evaluates your ideas, and most of them don’t read your proposal, they will read the Executive Summary.
  6. Hence, Fill up your forms correctly. You don’t fill up correctly, you have eventually marked an end for your GREAT ideas.

Info 3) Get ready for Defense and Attack Game

I had my first presentation slides ready after i handed over my forms, instead of waiting for an interview, i did extra preparations by presenting the business plan to my father’s friend, which is a CEO of a financial consultancy company, and my uncle’s friend, which was also someone who holds a high position in a big corporate. Both has nothing to do with the industry within my business plan, I just want to get screw up and receive some feedbacks from someone at the top level management, and i treated them as potential VC’s. Both of them has different opinions. One of them is more picky for my presentation skills, the other wants to know how my money is earn. 2 of them guide me in on my slides, my presentation skills and the things i needed to prepare.

  1. You only got 10 Minutes to present. You need to cramp up your 30 pages business plan in 10 min. The sequence of my presentation slides: What is my product? > The niche and uniqueness > Targeted market > Market Potential > Competition > Barriers for competition > Potential Growth of the business > ROI as summary > Thank you. (Note: The sequence is just a guideline for you. Don’t follow my sequence, my sequence is based on my Business plan and my way of presentation. 10 min is considered long, i was given only less than 5 minutes to show what i have when i present to the CEO)
  2. Practice more on your presentation skills. I can’t remember how many times i have practice alone in front of the mirror. But i have presented to both of the 2 top managements at least 3 times each.
  3. Time your presentation. Practice with your business partner. Time yourself with a stop watch. Try not to exceed the time given. Go slow and Steady.
  4. Continuously refine your presentation slides until you feel that it is enough to convince the panels. example: I replaced Sales and Marketing Plan with Market Potential, is because showing the potential market is more convincing than marketing plans. Marketing strategy is important, but my objective is to convince the panel that this is a viable business, so, Market Potential tends to weight more important at this stage and time is limited for presentation.
  5. 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. We called several potential customers which includes TV3 and UNICEF. However, we only manage to present to UNICEF right in the morning before our 2nd interview with MDEC in the afternoon, we got a good feedback from UNICEF, but we did not manage to get a support letter, cause that needs a lot of process and approval from UNICEF internally.
  6. Spot the Q&A question. Write down the potential questions, and your Answers, then from the answers, what will they question again, and answer again. Bring in the piece of Q&A you written during your presentation as bullet prove vest. When one is tackling the question, the other is searching for the right answer.
  7. Get a Sales and Marketing Partner, some one who could present and up sell your ideas. Technology Geeks mostly are not good presenters, like me. Technologically you may be good, but technology is only part of the business. You need a marketing representative in your business. They may not be able to help you in developing your idea, so what, in long run, u still need someone to do the sales for you. You can sell the product yourself? Trust me, you can’t, unless you are an experience marketing guy. If you are a marketing guy, you won’t be sitting 24 by 7 in front of your pc.
  8. Wear and act professional. Get a tie, shake your hands when u meet the interviewers.

Last but not least, this is just an opinion, hope it is useful. Good luck to your application.

July 17, 2008 | Filed Under Entrepreneur | 10 Comments 

Funding for Malaysian ICT Entrepreneurs

Attention to all Malaysian ICT Entrepreneurs, If you have any great ideas, which you think is unique, it will be a hit in the market, or its the next big thing; here is the chance for you to fulfill your dreams. Get funded for your ideas! The government had allocated RM80 million under the Ninth Malaysia Plan for funding as part of the effort to nurture home-grown technologies and talent pools.

These are the few options that you could get funded from:

1) Cradle Investment Programme (RM50,000 - RM150,000)

CIPCIP, a RM 100 million fund managed by Cradle Fund Sdn Bhd, under the auspices of the Ministry of Finance (MOF). Cradle Fund Sdn Bhd is a subsidiary wholly owned by MAVCAP (Malaysia Venture Capital Management Bhd). A conditional fund for RM 50,000 - RM 150,000 for groups of innovative individuals with technology-oriented ideas, who are 18 years of age and older, and permanently residing in Malaysia can apply. Each application form must have a minimum of 2 applicants and a maximum of 5 applicants. Read their FAQ to understand more about them and how you could apply for the fund.

2) MIRC - MCA ICT Resource Centre

MIRCA RM5mil fund to IT entrepreneurs in Malaysia. This is a partnerships between MCA’s Technopreneur Venture Fund with venture capital organizations. There is not much detail on the MIRC site, is best for you to contact them directly at +603-2161 1618 for more details on the fund. This may be their first fund. So, be the pioneer for the first batch, you may get a lot of publicity if you manage to secure the fund. I wonder if this fund will be a conditional funding or it acts as a VC funding? since it is partnering with the venture capital organizations, will it have any of the VC’s restrictions occurs?

3) MDEC Technopreneur Pre Seed Fund

MDECA RM 150,000 conditional fund which was introduced by MDEC to develop your viable business plan into commercially focused ICT project for venture funding and commercialization. Apart having the advantage of its mentoring services and the facilities provided by MDEC, approved applicants has a chance to apply for MSC status during the development of prototype. The fund is open to all Malaysian Individuals who doesn’t owns a business. Application Form download here. FAQ download here.

Last but not least, some other sites that mentioned on Funding in Malaysia:

  1. http://www.it-sideways.com/2007/05/funding-for-technopreneurs.html
  2. http://www.edwinwang.com/Cradle-investment-Programme-MSC-TDF-National-Incub.shtml
  3. http://web2.0entrepreneur.com/6/how-to-get-funded-for-malaysian-startup-entrepreneurs.html
  4. http://www.mobileworld.com.my/v2/index.php/20071105394/Mobile_Industry/Articles/Who_said_there_is_no_funding_.html
  5. http://www.mscmalaysia.my/topic/MSC+Malaysia+Status+Funding
  6. http://hatchlings.wordpress.com/2007/01/05/funding-options-for-a-malaysian-entrepreneur/

Don’t wait when there is a chance.

July 15, 2008 | Filed Under Entrepreneur | 5 Comments 

cheehOOng.com vs cheehong.com

To readers of this blog, my name is Chee Hoong, Hoong with a double “O“. It’s pronounce a bit like William Hung’s “Hung”. cheehOOngI m frustrated with people that get my name wrongly spelled, specially when they misspelled chee Hoong as chee Hong. Imagine a name with a difference of a single alphabet “O“, your property, your insurance, your bank account, your money is all NOT belongs to you, and how pissed off will that be when it comes to money.

Gogleif gOOgle, is mis-spelled as Gogle, it’s no longer gOOgle anymore. However, google is smart in buying gogle.com, it both redirects to the google site of your country region. Unfortunately, I am not as lucky as that, cheehong.com was acquired by a china manufacturer in Hui Zhou, China. My friend accidentally fall on to the misspelled site, and that is the reason to inspire my to write this entry. “Hey dude, Do you know how to spell my name !!???”

Yahoo has published a list of most misspelled names in their search engine, and the top goes to “Wallmart” instead of “Wal-Mart”. With reference to www.jenniferslegg.com, a Search Engine Marketing consultant, that some web masters utilized the misspelled trick, to get their sites rank to be push up. Imagine with the correct spell for Britney Spears already has a 488,941 searches from a list that google published, the one with the misspelled has a 40,000+ searches, it’s definitely a brilliant and a lousy trick to implement in SEO. and if you do realized, some number 1 ranking sites in search engine, is definitely not an official site, specially for those gaming sites.

Some product manufacturers even uses the existing famous brands, misspelled it and endorse as a new brand to their own products, for examples, i have seen “Adidas” is spell as “Abibas“, “Panasonic” as “Pansonic“. It’s so brilliant for these manufacturers to invest on a misspelled word to gain its product popularity, save a lot on marketing their brand names, and capture the market locally and internationally. Hence, to some people which can’t afford a branded item, eventually they go for a cheaper one, and a similar name of the product. and surprisingly, with a misspelled name, how many sales and traffics has been loosing to competitors. Eventually, Pansonic in Malaysia is quite well known in electrical goods by the Malaysians.

So, do you see the impact of a misspelled name? Just to remind you, my name is Chee Hoong, “HOOng”, with a double “O“.

July 13, 2008 | Filed Under Marketing, SEO | 3 Comments 

I’ve won a Maxtor 80GB Portable Hard disk

Maxtor 80GB Harddisk Yes! I have won a Maxtor 80GB Extended Hard disk from an event hosted by webmastermalaysia.com, and proudly sponsored by exabytes.com. Thanks to Mr. Adrian Oh from NeoWave.com.my, one of the speaker for this event, that has a magical finger, and luckily pick me up as the first price winner for the Maxtor 80GB Portable Hard disk.

I seldom and not very actively involve in such events though I have been to a few just to network around. Social Networking is essential for all entrepreneurs whether they like it or they don’t. From here I met a lot of pro-bloggers, webmasters, internet entrepreneurs, some technical gigs and SEO experts, exchanging ideas on how to make more money online, how to prevent fraud, internet marketing, etc etc. And you will be surprise that these people are earning more income than people that has a full-time day job.

Featured speakers for these events are Famous bloggers, Mr C.F.Liew from liewcf.com, Microsoft experts, Mr. Rohan, e-Commerce specialists, Mr. Adrian Oh from Neowave.com.my and web/graphic designer, Ikram Omar from filament-phase.com were all sharing their knowledge in their areas of expertise.

CFLiew and RohanLiewCF, he is not what i have expected, he is not a very well speaker or presenter, he doesn’t speak very well English and in fact his English is kind of broken; However, he is earning an USD X,000 (he don’t want to disclose), which is more than his previous job employment with his blog liewcf.com, and he is now a full time blogger. Looking at C.F.Liew, which makes me to conclude that, “You do not need a well spoken or written English to blog“, as liew mentioned, as long as, your readers understands, and you yourself understands, you can make a difference with blogging.

Rohan, speaks of Microsoft SilverLight, mentioned on a camp called Silverlight camp, which i am quite looking forward to it, however, i can’t manage to get his email and blog details, hope someone that is reading this could update me on the silverlight camp in malaysia.

Adrian OhNeowave, Adrian Oh, The guy that i can’t miss to mention him, without his magical finger, I don’t even get a 80GB hard disk for FREE. Adrian is an expert in eCommerce, selling things over the internet, and he runs a company that provides eCommerce solutions. He is sharing to us on fraud prevention and his personal experience in handling fraud situations. I believe his sharing is very practical to every webmasters that would like to earn a penny over the internet. Visit his site for more information on eCommerce @ Neowave.com.my.

Last but not least, Ikram Omar’s “Grid Design for the Web” had really inspired me that how shall we design our site, and i like the way he redesign theStar website, and is much better than the existing site design.

Ikram Omar

Webmaster Malaysia Gathering

some other sites recommendation from the people in this event:

elawyer.com.myEddie Law’s eLawyer.com.my, a site that provides law jobs over the internet. you can visits his blog for some law tips at laweddie.com

asiaparttime.com

Mr. part time, Lam Poh Ee, founder of the famous part time portal asiaparttime.com. a direct competitor to Iamfreelancer.com

Home Tuition CareHome Tuition Care, the founder Andy Low. The sites provides free home tuition matching tuition for parents.

iamfreelancerThe famous freelance job portal, IamFreelancer.com, founder Elvin Lok was there as well.

LetARoom.comlast but not least. LetARoom.com, which is a site that I am partnering with asiaparttime.com founder, mr. part time, to provide free service allowing everyone including students, teachers, executives, working adults to post their rooms or houses for rent, and for those to wanted to rent a room to search for a room or houses.

Photos and Pictures are grab from webmastermalaysia.com, exabytes.com, asiaparttime.com, IamFreelancer.com, eLawyer.com.my and Home Tuition Care.

July 8, 2008 | Filed Under Entrepreneur, Events | 10 Comments 

A new journey begins

Right after I quit my job, 2 weeks later, I went for an interview. It’s not an job offer interview, however, it’s an interview for the application of Technopreneur Pre-seed Funding programme from MDEC Malaysia. This programme offers up to an Ringgit Malaysia of 150K for start-ups to build their prototype. During my days in the office, i have been quietly writing proposals without my colleagues notice (If they didn’t notice and I assume they didn’t), and I handed up my application the month before i quit my job.

Without knowing if I will be able to get the fund or not, I just quit my job so that I could concentrate to aim for the fund. So, after a risky, shivering, panicking 1st interview with a board of 5 presidents and directors from PIKOM, MIMOS, and MDEC, i can’t really remember all their names and position where my mind is almost at a total blank during the presentation. However, i manage to get through the 1st Interview with 70+ applicants, and which makes me and my team the top 28% that when through the 1st interview. From then, my confidence came back. and I didn’t panic much anymore for the 2nd Interview which was interviewed by a board of 10 members.

Thanks to my partner, K.C as my sales director for being so well presented during the interviews; the Yong brothers, Alan and Nelson for preparing the flash animation files for the presentation; and specially to my uncle and his friend, my father’s friend that has given me such good suggestion and guidance in my presentation skills and slides. Congratulation to us, we manage to secure the fund. So, it’s a start, and a begin of a new journey.

My feelings are so complicated when the news came to me. Besides feeling happy that my proposal has been accepted and i could kick start a dream that will benefits the children, It also means that I have committed to something big, and the responsibility and burden is much more heavier that i never handled before.

Great Powers comes with Great Responsibility, and I will takes whatever to fulfill what has been started. Joove Enterprise Sdn Bhd, is the company that me and my team formed. For the time being, we will be focusing on Animation productions for children. and this marks the start of a new journey…

Joove Enterprise Sdn Bhd

July 5, 2008 | Filed Under Entrepreneur, My Life | 2 Comments 

The start of a jobless life. (Putting myself in Deep Shit)

It has been 4 months being jobless after my last contract. Although there is an attractive offer placed right in front of me, however, i refused to take it, and straight head start to what I have always dream about, which is to become a business owner of my own. I don’t dare to categories myself as an ‘Entrepreneur’, cause I didn’t really prepare for that. However, things that I have done so far makes me feels like one of them.

It took me quite some time to quit my job. My aim is to survive without a job. So…. i quit my job, and get myself into real deep shit situation. Realizing that I have no fix Income, I got an insurance to pay, my parents are retiring, my brother is still studying, and petrol hikes like hell within the past few months, and my savings are draining so fast. So, i have to force myself to work for my own money and to achieve the dreams I wanted.

So, what will I be doing, hmmmm…. yet to know…

July 3, 2008 | Filed Under Entrepreneur, My Life | 8 Comments 

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    Life is interesting, its all about experimenting, trial and errors and self improvments. This blog is all about my personal experience. I am full with ideas, and i will achieve every one of them step by step.

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