Introduction to Writing a Business Plan

I have been writing a business plan since 2003 to participate in the LiveWIRE business plan awards. I won the grand prize for the livewire participant category in 2006/2007. I have also participated in the think big business plan competition. Considering I am going to submit another business plan, I thought it would be appropriate for me to share what I know. For starters I’ll just share the purpose and the structure of a business plan. I’ll cover other topics some other time.

As a disclaimer, I am not an academic business student. I do not have a degree in business or administration. I studied mathematics and science. My knowledge of business plans or business is from reading books, internet resources, participating in courses, competitions, and doing business.

First thing before writing a business plan… Choosing a business idea. Your Business Ideas should have 3 main criteria: Continue reading

LiveWIRE Leadership Camp 08-09

Another LiveWIRE Leadership Camp was held last weekend on 20th,21st and 22nd November 2009. The participants consisted mostly of students and staffs from the Youth Development Centre. The Previous Leadership Camp was held the weekend before. This time there were 18 participants. The Leadership Camp is three day and 2 nights with activities ranging from lectures and physical activities in Temburong.

On the leadership camp the participants learn about Continue reading

Agriculture & Agrifood Expo 2009

19 November 2009 – The Agriculture & Agrifood Expo was launcded at the Agro-technology park. His majesty gave an opening speech on how agriculture and entrepreneurship is important and is even an obligation in terms of social, economic and religion.

His majesty later presented 3 selected entrepreneurs for their achievements. Namely Soon Lee Farms and Trading (Soon Lee Supermarket and Ayamku) , Sahamada Sdn Bhd (Exported Cinta Chilli Sauce), and Awg Chien Puong Chin (Don’t know exactly famous for, somebody please tell me if you know).

His majesty then visited all the booths that were at the expo. From the companies that provided fertilizer, machinery, fruits and vegetables, paddy planting and equipment, processed foods, to business and marketing consultants.

Interesting booths that I saw were:

  • a company that invented a rat trap that can trap several rats (a CIPTA award winner).
  • Some LiveWIRE members selling organic fertilizer and another selling electronic (produced) fertilizer, and then some were in farming, and others were in processed foods.
  • Some Huge Fruits (you can see a few in my pictures)
  • Some locally made cakes and other food sources.

Photographs I took can be viewed from my facebook photos

http://www.facebook.com/album.php?aid=101630&id=550578077&l=0842e4a967

LiveWIRE Leadership Camp 07/09

LiveWIRE organized the Leadership Camp. Last Weekend from 13 to 15 November 2009. The participants consisted mainly of students from the Youth Development Centre.

On the first day the participants left Brunei-muara to go to Temburong early in the morning. The first sessions were held at Bangunan Utama Bumiputra at Pekan Bangar. The participants learnt about Continue reading

Store Management and Stock Control Course

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I attended this course at BINA on 10-11 Nov. The course ends on 14 Nov 2009. (I won’t be able to make that as I would be at livewire leadership camp then) The participants consisted of representatives from Continue reading

Shell LiveWIRE Virtual Business Challenge

Shell LiveWIRE International has launched a Competition. Basically it is a game simulation of running a business, where competitors try to get the highest mark. I’m not sure if Bruneians are ¬†eligible Bruneians are not eligible to win the prizes as the website is based in the UK. But I would still recommend people to try out the game simulation. Currently I am Downloading the Game. I will post another article reviewing the game. Until then signup or login to¬†www.shell-livewire.org/my-business-kit to download the game.

Initiatives in Developing Entrepreneurs

Most people think it is difficult to start a business. Especially if they don’t have the money to start up. Now a new government initiative is aiming to make it easier for young entrepreneurs to start their business. The Ministry of Culture, Youth and Sports (MCYS) will launch a micro financing scheme to help youths in starting a small business. Continue reading

Entrepreneurs Share their Experience

I was invited to share my experience as an entrepreneur at UBD to students of “Introduction to Entrepreneurship”. Other speakers were Lili Yong of Lilli Lingerie, Rahimi Perdi of STAR Services, and Rahimin of Rafiqun IT Company.

It was a relief to know that there was a small group of students in UBD who were interested in entrepreneurship. I was told that the students were from a variety of faculties and not necessarily from business courses, for example some of them were from science faculty. This apparently was the initiatives of the Gennext at UBD, where students can learn a multidisciplinary subjects (at this I sometimes wish I was born a bit later to enjoy all these benefits).

liliThe floor was first taken by the loud Lili Yong (which I thought was a mistake… She should have been saved for last. She was that good) sharing her experience of graduating, then working for her father, then starting her business from a small 1st floor shop, to her now famous ground floor shop at kiulap. There were and are still of course, challenges that she has to struggle through she said. She said that starting a business is easy, It is keeping the momentum going that is challenging. Continue reading

Financial Statement Course by BINA

Participants of the financial statement course at BINA

I attended a 3 day course on Financial Statement that was held by BINA at Beribi. The course was held on 28th, 31st November and 2nd November 2009. (Due to overlapping events I only attended this course partially. I can only hope that I had learned enough)

The participants consisted of Cooperative members, EDC incubatees and other SME’s. The course covered topics such as:

  • The Structure of a General Ledger
  • How to fill in the General Ledger
  • Terms such as Credit, Debit, Contra
  • The importance of keeping accounts, receipts and vouchers.
  • How to translate the General Ledger into a Financial Statement.

The BINA is the Brunei INdustrilal development Authority (I don’t know how the acronym matches that way) which you can find out more by going to their website www.bina.gov.bn.

posted a few pictures at facebook. http://www.facebook.com/album.php?aid=98564&id=550578077&l=5bf6a6dd45