Entrepreneurial thinking is increasingly important in Singapore today. Learn from the experiences of three budding entrepreneurs as they share their passions and visions for youth leadership

Daniel Goh from Young Upstarts and The Good Beer Company:
Do Thorough Research and Work Your Way Up

How do youths view entrepreneurship today? What first steps can we encourage them to take in pursuing their dreams of starting a business? Hear from Daniel Goh, founder and director of The Good Beer Company, and chief editor of YoungUpstarts.com, a Singapore-based website covering stories such as small businesses and entrepreneurship. Whether in a small or big way, these are things that are changing the world.

Halogen360 (H360): What have you observed about the youths in Singapore today?
Daniel Goh (DG): As an entrepreneur as well as someone who provides an online resource for business owners, I am often approached for advice by many young people eager to start out on their own. My general observation is that there is no lack of youths in Singapore who hanker to take on the entrepreneurship mantle. After speaking with many of them, a second observation is that most young Singaporeans aren’t lacking good ideas either.

As a matter of fact, the youths in our nation can be very passionate in what they believe in. The problem lies neither in their lack of desire nor the lack of resources. There are plenty of avenues for fundraising and business advice if one knows where to look. More often than not, I find that the new generation – one that is accustomed to instant gratification – is singularly unfamiliar with the concepts of “learning the ropes”, or “working one’s way up”.

Here’s an example. I have lost count of the number of young people who have asked me for advice on starting a cafe, because they love coffee and the culture that surrounds it. But when I ask them about their knowledge of coffee – the differences in single origin beans, roasting techniques or types of coffee machines – I usually get a blank look. Have you visited coffee plantations or spoken to the people who deal with coffee? Have you worked, even part-time, as a coffee barista? If your answers are “no” to all the above, you can certainly still start a café, but your success may be limited. Just to give you an idea – I visited over 10 breweries and spoke to many brewers before I started selling beers from a hawker stall two years ago.

H360: How does Young Upstarts promote entrepreneurship among youth?
DG: Young Upstarts exists to provide content that help young entrepreneurs become better business people. We harness sage advice of thought leaders in their fields so young entrepreneurs can learn from past experiences and avoid potential pitfalls.

H360: What is your hope for the youth in Singapore?
DG: My hope is that in 2014, young aspiring entrepreneurs put their words and desires into action, and channel all that enthusiasm, intelligence and creativity to picking up the right skill sets that will ultimately help make their entrepreneurial dreams come true. You can’t simply wing your way in business. There’s no shortcut. Learn what you can, and then go forth and change the world.

“You can’t simply wing your way in business. There’s no shortcut. Learn what you can, then go forth and change the world.” – Daniel Goh, Chief Editor of YoungUpstarts.com

Lee Min Xuan from PlayMoolah:
Think Like An Entrepreneur and Create Impact on What Is Truly Important

After hearing tips from an entrepreneurship veteran, let’s learn from the example of local startup, PlayMoolah. This company designs fun digital tools based on behavioural research combined with the power of play. Let’s hear from Co-founder and Princess of Possibility Lee Min Xuan as she shares the story and values of how they are dedicated to empowering youths to realise that money can help achieve personal goals and create value in the world too. As youths dream up business plans, we can encourage them to think about what really matters.

H360: How has the support for young social entrepreneurs changed over the years?
Lee Min Xuan (MX): It has become much friendlier, with the new grants from National Youth Council (NYC) and awesome co-working spaces like The Hub. But nothing beats having a vibrant community! Culturally, I think we’ve moved away from a point of resignation (what can I do when I’m only one person?) to a point of understanding that complex problems can be dealt with using opt