Life of a Student Entrepreneur event was held on Monday, 20 Aug where student entrepreneurs like Sendi Heng (Spector One), Hayden Teo (Urban Tavern), Isabel Lee (An Acai Affair) and Uzen Tan (Nineteen95) came down to share their experiences of what it is like to juggle between school and their startups.
Most of them mentioned that the motivation behind starting their own business was because they are done working for people.
A particular sentence by Hayden Teo struck us: "I don't want to graduate and become one of those ants." By ants he meant the mountains of working adults hustling every day at Raffles Place. Are you one of them?
Now on to the topics most of you will be interested about which is on fundings and challenges faced as a student entrepreneur:
Uzen Tan - boot strapping at the start of his business and to source for the cheapest alternative on Carousell for his coffee machine
Hayden Teo - bring in his own gaming console from home to ensure that his event space has whatever his competitors are offering
Isabel - apart from using her own savings, she had to borrow from her family members
Sendi - pitch to his own family members to convince them to sponsor his business ideas
Revenue - high rental cost as there is a need for physical venue
Manpower - turnover rates are difficult to ensure consistency (especially in the f&b industry)
Q&A session where the speakers gave tips for students who are looking to start their own business. Some recommendations were:
Partners - important to find a like-minded partner to share & split your workload and one that completes your skills set of doing what you're not good at
Self-discipline - plan your week well
Thank you once again for everyone who came down for the event. We hope you bagged home some useful insights and we hope to see you again for our next event! :)