Wisdom

The JFDI-Innov8 2012 Bootcamp was incredibly intense. We were strangers when we started but got to know each other very well. My family got involved, testing prototype games from several teams, writes Hugh Mason. In this post I want to share some of the background thinking and, in particular, why we’re not precious about ideas….

Clean, orderly, polite. These are the kind of words that first-time visitors to Singapore usually choose to describe the place. So I was intrigued to read that, last week, the country’s prime minister urged Singaporeans to mess things up a little. Since the amazing performance of JFDI’s startup teams turning ideas into investments in just…

When JFDI recruits teams, we are more interested in the people than the idea. Ideas are free – we believe that at any given time, every possible startup idea, somewhere or other, is being tried by teams of varying levels of skill. Most of those ideas fail because it’s not the right time for that…

It’s been fascinating to co-deliver two Startup Weekends in a row. Watching more than 500 people pitch nearly 200 ideas, then create 60 prototypes has let us see some patterns emerging. We’ll keep adding to this post to share what we’re learning. Meanwhile, you might want to also check these wise words from Brendan McCorkle…

A great piece in the Financial Times this week by Jonathan Moules on the psychology of business angels. He points out that some come from heaven and some from hell. Here are some of the nightmares to look out for: Shark angels. This investor’s sole intention is to take advantage of a business founder’s lack…

Next month marks the fourth anniversary of an invitation from Singapore’s Media Development Authority to mentor media businesses here. Accepting that invitation changed my life and led me to bring my family to this fascinating island. Three colleagues thinking of setting up businesses in Singapore have all asked me what I have learned from my…

Often people and companies obsess about what’s wrong rather than what’s right. It’s a common belief that one should focus on the weaknesses in a person or business to improve them. Another approach, promoted by Marcus Buckingham is to start with those strengths and build out from them. See also: SWOT analysis

The word entrepreneur could literally be interpreted a description of someone who ‘goes in and undertakes a venture’ of some kind. In practice, it’s a description a state of mind and choosing to be in that state of mind for most of your days is a lifestyle choice. For many, that’s a one-way choice: the…

Most people buy products and services for the benefits they bring to their lives, not because they actually want the functionality of whatever they are buying. So when you promote something, push the benefits (what it DOES for people) rather than the technology (WHAT it is, or HOW it works)

Identify problems you know about in your own life, come up with a fix and make a business out of it. It’s a simple recipe for success but it sure beats setting up in a business area where you have little empathy with the customer.