MAY 27 — For those getting their daily news from the alternative media, the incessant barrage of racial, political and economic negativity is probably driving them to despair.
1Malaysia Development Bhd, hudud, Goods and Services Tax, the falling ringgit etc. are making it ever harder to see where any good news can emanate from. And when young people cannot see a bright future, nor can the country.
But if the future looks bleak, it’s probably time to take a fresh look at opportunities that may be getting ignored. Just because the education system is sliding backwards does not mean that there are no bright kids with ideas.
So here is a short entrepreneurship primer for creating a more exciting and positive tomorrow, for young Malaysians today.
May you live in interesting times: Supposedly an ancient Chinese curse, it nevertheless describes the reality of the dramatic changes and the opportunities that have come with the 21st century.
Phrases like the “knowledge economy”, “new media”, “tech convergence” “multimedia super corridor“ and “4G LTE” that would have made no sense just a few years ago now litter everyday conversations.
The times are so interesting that the only constant is change. The era of certainty and predictability, where one’s whole life was pretty much decided by where and in which circumstances they were born is over.
Today, highly qualified pilots can be unemployed and kids who never went to college can be multi-millionaires. As new pathways to success emerge, old notions of education, skills, creativity and employment are being increasingly challenged.
Things have come to such a point that the gold standard professions of the past like law, medicine and manufacturing engineering are looked upon as old and boring. Because they tend to focus on a rigidly defined set of rules, the scope for creative expression is seen to be low.
But when you combine them with what technology can achieve, like biotechnology and robotics in medicine, e-discovery and predictive coding in law and software and hardware engineering changing the nature of engineering overall, brand new horizons appear.
The digital revolution has not only created new industries in the technology sphere that are premised on the rapidly growing global access to information, but it is transforming almost every single aspect of human endeavour through the Internet of things.
Suddenly there are business opportunities everywhere because everything we do is changing with the application of information.
From how parking in busy streets is managed, to how taxis are booked to how doctor’s appointments are scheduled and shoes are bought, the search for improvement is the only constant.
Where earlier only people with capital and experience could contemplate going into business, today it is those with energy, vision and ideas who have a chance to make it big.
Where earlier business plans, money, plants, machinery and market research would determine what got made, today anybody can showcase what they have to offer via the Internet and if people like what they see, capital and expertise follow to ensure that the idea gets to see the light of day.
This is what makes this such an exciting time to be young and hungry. Young people have always been the driver of change. And in this era of constant change, they are the best equipped and the most comfortable with initiating and taking advantage of change. In this brave new world, the only constraint to success is ambition.
When everything is new, experience is practically worthless. Expertise and creativity are key. This is why entrepreneurship is becoming more and more attractive to young people.
There are no rules except for the ones they make up. Providing solutions and adding value is the new mantra. How it is done and where it is done are just details. As long as innovation and improvement result, the future is bright.
If you have an idea that promises to change some aspect of our lives for the better, this might just be the best time in all of human history to give it a shot. No money? No problem. A venture capitalist is around the corner. No experience in the marketplace, in hiring, in pricing, in anything but the idea? Mentors are at hand to guide you every step of the way. There are a number of innovation-based business incubators, in both the public and private sectors in Malaysia willing to give ideas a fair hearing.
Success is not guaranteed or even probable, but entrepreneurship is a roller coaster of fun, challenges and non-stop excitement that can not only change your life, but could end up changing the entire world. Ask Tony Fernandes.
And maybe, a different set of Malaysian stories may start dominating the headlines. Stories we would be proud to read.
* This is the personal opinion of the columnist.
