Dreamaker's Blog

After 2 years of co-founded my first company – Dreamarvel Pte Ltd. I have found some deeper meaning of entrepreneurship. Not just retrospect on my own company development, but also learning through readings and other start-up companies that I have privileges to know during the entrepreneurship journey. Some became success and some closed. I will try to put down my personal learning in words here and hope can ignite a spark for more discussion and obtaining a more holistic perspective.

After much thought, I have arrived at a conclusion. Building a company is not so much of the best idea or best product that you can offer. It is really starts by having the right entrepreneurs. There are basically 5 levels of entrepreneurs. I will briefly explain what I mean. First I will start with a special type – Level 0.

Level 0 entrepreneur – Many people are in this category, they are looking for opportunities to start a business on their own. Many have passion and drive, but never dare to give up existing lifestyle or mindset. They are always talking about ideas and believe one day he can meet the MR. Right partner to cover their risk and start the business together. We see many sitting at coffee shop and sharing their great ideas to friends. sadly level 0 will leads to no where.

Level 1 entrepreneur – Self driven individuals or a team, starts with a brand new business idea or merely a drive to start a business on their own. They took the first step of breaking free of the social norm and actually take up the risk of setting up a new business. They differentiated from Level 0 entrepreneurs by taking the action and make the first move. A true entrepreneurship begins.

Level 2 entrepreneur – Personally I’m in this category. I have started the company and exploring actively to keep the company afloat and grow. We worked hard and exploring new ideas and new opportunities to grow the company. Most of the time using own set of skillsets of the individual or the team. Actively refining and developing product or services to suits the needs of the market. Building relationships and establish new client base. We believe strongly the business school’s teaching. Find the pain-point in the society and utilize resources to provide the right solution to the problem. Many company closed down during this period as they failed to establish the healthy cash flow or run out of grant money /investment before they successfully build up the client base.

Level 3 entrepreneur – after the struggle of level 2 entrepreneur, a level 3 entrepreneur emerges. There are also smart entrepreneurs start directly at level 3. They are no longer rely on their own personal skillset. They are the system architect. Instead of focusing primarily on product or services, they know the market demand and directed at building a self-running company. They are an individual or a team has grand vision of the company and building the capability by recruiting the right person on board. Most of them has a sufficient client base and healthy cash flow, or some with heavy investment to start the company. The product/service is no longer their primary concern, setting up a organization to fill the market need is the goal.

Level 4 entrepreneur – Obtain this level is when entrepreneurs successfully implemented a self running company with a system that generates cash flow and obtain a significant market share. Now the entrepreneur’s job is to refine the system for better efficiencies, planning expansions and venture overseas. Very often, this is when the entrepreneur leaves the company and let professional team to run and carry out the task.

Level 5 entrepreneur – This level is similar to level 4, however this is the differentiation of a great entrepreneur from a good entrepreneur. Level 5 entrepreneur set up a company not merely for profit and expansion. He/she builds a system with a strong culture and value. The company will not just be filled with people who come and go for the salary only, but people who are dedicated, passionate and takes the ownership of the organization strongly. This is the type of company will last through tough times and adaptable to all kinds of changes. People working in such company find meaning and purpose for their work. It is the entrepreneur’s task to build such company not rely on celebrity CEOs or borrowed corporate structures. This is the most ideal situation, but there are only a few company as such exist today.

Above were my personal thoughts, as rough as an uncut diamond. I learnt a great deal from the book Good to Great by Jim Collins. His research has bring important facts and unique insides through history of many good companies. It is an on going journey to explore the world of business, if you have any thoughts and insides, do drop me a comment.