Tag: Entrepreneurship

From the World of Academia to the Realm of Entrepreneurship

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Introduction:

As humans, we often stand at life’s crossroads, contemplating the avenues of security or the unknown trails of adventure.

While the allure of safety whispered through the mundane 9 to 5 routine, the siren call of adventure has always resonated louder within my spirit.

It was this irresistible call that nudged me from the structured halls of academia into the boundless, exhilarating realm of entrepreneurship.

As I transitioned through diverse roles – an academician, researcher, telecommunications manager, and entrepreneur, life unfurled a panorama of learning, evolution, and quintessential experiences.

Chapter One: The Solitary Explorer

The world is a book, with each journey turning a new page filled with unscripted stories and lessons.

My penchant for solo travel has been a kindred spirit in my quest for self-discovery and growth.

Each solitary expedition through bustling city arteries and tranquil countryside veins unveiled new horizons, imbibing a deeper understanding of the world’s diverse tapestry.

Meandering through unchartered territories, tasting the essence of myriad cultures, and exploring the relics of bygone eras, I absorbed the essence of humanity’s diverse ethos.

Every landscape I traversed, every new face I encountered, and every unique cuisine I savored added layers to my perspective, each experience a brushstroke on my life’s evolving canvas.

Chapter Two: The Entrepreneurial Voyage

Much like the first step in a foreign land sends a ripple of thrill, the voyage into entrepreneurship was a tumultuous yet exhilarating expedition.

This realm posed a chessboard of challenges, each move demanding innovation, resilience, and a ceaseless zeal for learning.

As I delved deeper into the entrepreneurial abyss, understanding the delicate dance between customer expectations and vendor capabilities became a revelation.

Each challenge surmounted not only honed my problem-solving acumen but also unveiled the myriad facets of being an employer.

Celebrating milestones amidst overcoming hurdles became the rhythm of my entrepreneurial journey.

PS: I have written 5 eBooks which you can download for free here.

Chapter Three: Navigating the IoT Frontier

The entrepreneurial tide further swept me towards the shores of the Internet of Things (IoT), an arena burgeoning with untapped potential and awaiting revolutions.

Embracing the role of an IoT thought leader, I found a new avenue to mentor the young minds, igniting the flames of innovation within them.

The exhilaration in this chapter of my journey stems from venturing into the endless possibilities that IoT holds, orchestrating solutions that could potentially redraw the blueprint of urban landscapes, simplify lives, and elevate businesses to novel heights.

Epilogue:

The decision to embrace adventure over the cozy lap of security might have its share of storms, but the rainbows following those storms have been breathtaking.

Every endeavor, whether it was wandering in foreign lands, navigating the complex maze of entrepreneurship, or pioneering in the IoT landscape, enriched my life with invaluable experiences and lessons.

IThe essence of adventure has been my greatest tutor, urging me to live life to the brim, forever curious, forever evolving.

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Follow my personal blog – http://mazlanabbas.com

An Entrepreneur as My Last Career – Is It The End?

Where do I start and where do I end of my career?

You can only ink the dot upon reflection, not in the moment of progression.

Here’s my journey.

The short story of my life.

A Career’s Humble Beginnings:

In the sunlit corridors of Universiti Teknologi Malaysia, 1984 found me embarking on a voyage as a lecturer, cradling the dream of sculpting young minds.

This esteemed institution wasn’t just my workplace; it was where my academic roots fiercely grew, intertwined with its rich tapestry of knowledge.

View at Medium.com

The Pivot Towards Telecommunications:

Upon completing my PhD, the winds of change gently nudged me towards a divergent path.

1994 was a pivotal year; Celcom’s looming towers beckoned, and I heeded the call, stepping into the vibrant and dynamic world of telecommunications with a position as Manager of Research and Development.

Ascension at Celcom:

Within the bustling hive of Celcom, I wasn’t just a cog in the machinery.

With each sunrise, I took on my roles diligently, and with each sunset, I observed my responsibilities expand.

From the inception, leading the Research and Development team, the journey meandered through 13 years, culminating with me assuming the Vice President role, a position glistening with challenges and opportunities alike.

A Foray into Research:

Post-Celcom, the canvas of my career was splashed with a different shade of intrigue as I immersed myself in the universe of wireless technology at Mimos.

As the Wireless Communications Cluster Director, my gaze was firmly set on the horizon of innovation, contributing to the realms of IPv6, WiMAX, and the burgeoning Internet of Things (IoT).

The Entrepreneurial Leap:

2015 whispered promises of a different adventure, as I allied with Redtone IoT, aiding in the inception of a subsidiary pulsating with potential.

Yet, the entrepreneurial spark within me flickered impatiently, yearning for a canvas of its own.

This longing bore Favoriot, my startup, a brainchild born out of passion and vision at the epoch of my 60th year.

A Sunset Tinged with Pride:

The twilight of my career isn’t shadowed by impending darkness but illuminated by the glow of achievement and satisfaction.

As I stand on the precipice of retirement, Favoriot isn’t just a company; it’s a legacy, a tapestry delicately woven with threads of hard work, dedication, and an unyielding spirit of entrepreneurship.

Concluding Reflection:

Each chapter of my career is a story, a melody composed with notes of perseverance, adaptation, and relentless pursuit of dreams.

As the curtains gently lower, heralding the imminent end of my professional sonata, I gaze back not with regret but with a heart swelling with pride and a soul whispering tales of a journey well traversed.

Embarking on Your Entrepreneurial Adventure with Thin Wallets: A Compassionate Guide

Photo by Emil Kalibradov on Unsplash

Life as an aspiring entrepreneur, with dreams larger than your budget, can be daunting.

I feel your pain, for your story mirrors mine, not so long ago.

You stand at the crossroads, armed with skills, vision, and a fire in your belly, but with pockets that jingle with limited coins.

Fear not, for the road ahead, while tricky, is navigable, with perseverance and a generous dose of self-belief acting as your trusted companions.

Find a Home in a Startup

When cash was scarce, and the entrepreneurial spirit within me was impatient, I sought refuge in a startup, and perhaps you might consider doing the same.

Whether you step in as a co-founder or slide into the role of an employee, the startup ecosystem is fertile ground for your entrepreneurial skills to take root and flourish.

In this dynamic space, you’re not just an employee but a visionary and asset.

Wear your confidence like a second skin, as you negotiate a compensation package that mirrors your worth.

And if the stars align, may this startup be in the industry that sets your heart racing, the domain where you wish to unfurl your entrepreneurial wings in days to come.

Why?

Every day spent here is a treasure trove of learning, exposure, and invaluable experience, all of which will stand you in good stead when you set sail on your independent venture.

Along this journey, you’ll earn and learn, meet potential investors, and weave a network that will be your safety net when you leap into the entrepreneurial abyss.

Exploring the Funding Landscape

If the call of entrepreneurship is too potent to resist, and you wish to plunge right in, then let’s talk money. Traditional funding routes might be out of reach, but the funding landscape is varied and vast.

The money could come from those who know you best, your friends and family, trickling in as loans or investments.

Or you could cross paths with a like-minded co-founder whose belief in your vision is matched by their willingness to invest in it (be prepared, for they might ask for a sizable piece of the equity pie).

And if you tread carefully, with a solid plan in hand, venture capitalists might be willing to bet on your dream.

In Closing: You’ve Got This!

Embarking on an entrepreneurial journey with limited funds is undeniably challenging, but remember, the greatest adventures are born out of adversity.

Each step, though uncertain, is a dance between risk and reward. With tenacity, faith in your abilities, and an unyielding determination, you’ll not only navigate through the financial mists but also bring your vision to life in vivid, triumphant colors. So, chin up, eyes forward.

Your entrepreneurial story is waiting to be written, and it promises to be an inspiring read.

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Crafting Dscover: Our Fourth IoT Venture

Photo by Alvaro Reyes on Unsplash

The Backstory

Here’s how our fourth IoT product, Dscover, came to life. After the commercial launch of our first IoT product, Raqib, in 2018, feedback began pouring in, leading us to a crucial decision: Should we refine Raqib or innovate anew?

At the same time, work was underway on Favorsense and the Favoriot IoT platform — our second and third products, respectively. Trusting our instincts, we embarked on developing Dscover.

Addressing a Need

With Raqib, designed as a unique tracking solution sans Bluetooth smartwatch and smartphone, we noted users weren’t interested in the vital health signs monitoring feature.

This made us reevaluate: Which market needed tracking, and why was individual monitoring necessary?

It turned out that tracking was pivotal for safety during travel, offering freedom while ensuring connection and safety for individual travelers and their groups.

Market Realities

Our initial focus was on the thriving pre-2020 Travel and Tourism market.

However, as the sector took a hit during the pandemic with restrictions imposed worldwide, we tactically shifted our target, repurposing Dscover as a family and friends app.

Opting for a Mobile Solution

A mobile application was chosen for Dscover for its cost-effectiveness — utilizing the user’s device and GPS — and ease of deployment and management through online app stores.

Overcoming Go-to-Market Challenges

Navigating through the B2C model was challenging.

With social media as our primary outreach tool, understanding user demographics was crucial for conducting targeted promotions.

An initial naming challenge occurred with “D’scover,” prompting a name change to “Dscover” for easier user search and app store navigation.

While our initial approach was B2B, reaching out to travel agencies and the government, the pandemic-induced downturn in travel necessitated a market segment expansion, including a focus on monitoring quarantined patients — a solution that, unfortunately, didn’t receive official endorsement for unknown reasons.

Time for Reflection

We pondered: Did we allocate sufficient resources to marketing and sales before leaping into developing another product?

Creating a new product is undoubtedly a demanding journey, with each of our four IoT products showcasing distinct strengths and weaknesses.

Lessons Learned

The Importance of Adaptability

Reflecting on Dscover’s development, the crucial lessons learned revolve around market dynamics understanding and adaptability.

The necessity to pivot from a travel-centric app to one for family and friends was a crucial decision in response to the global changes in 2020.

Valuing Feedback

Feedback is invaluable.

The responses and insights from our users significantly influenced our product development trajectory, emphasizing the importance of aligning product features closely with user needs and expectations.

Mindful Naming

Product naming requires careful consideration for ease of search and brand recall.

The name change to Dscover was not just a whimsical decision but a strategic one to ensure greater visibility and ease of access for potential users on various platforms.

Continuous Evaluation

Before diving into a new product, conducting a thorough evaluation of the current product’s market performance is crucial.

Such evaluations and robust marketing and sales strategies form the foundation for successful product development.

Forward-Looking Insights

Armed with these lessons, we’re better prepared for future ventures.

These insights will guide us in crafting products that meet market demands and deliver value to users, ensuring a smoother and more successful journey in the intricate world of IoT product development.

Each lesson learned lights up the path ahead, helping us navigate away from potential mistakes and toward sustainable success.

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You can also follow my Medium Publications Aspiring Writer’s Journey, Influencer’s Journey, Startup Survival Journey, and IoT World.

How an IoT Startup Overcome the Hardships and Monetise Their Business

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In the world of business transformation, there’s a new term on the rise: IoTising, a concept introduced by FAVORIOT. IoTising involves the process of using IoT technology to revamp organizational operations and business strategies.

While this journey towards digital transformation may not happen overnight, it starts with visionary leaders who can champion these initiatives. However, organizations with deep-rooted traditions may encounter internal challenges due to differing cultures and eras. It’s important to note that technology itself is not the primary hurdle; instead, meticulous planning from the outset is crucial to avoid wastage and to gain widespread support.

Let’s dive deeper into this journey through an insightful interview with Mazlan Abbas, the driving force behind FAVORIOT:

1. Embracing Change as a Dynamic Leader

Question: What, according to you, makes one a dynamic leader? How do you integrate the same thought into your leadership?

Answer: In today’s era of constant technological and business upheaval, dynamic leadership requires agility in responding to evolving landscapes. A dynamic leader is open to unlearning and relearning new things to stay relevant.

2. The Birth of FAVORIOT and Lessons Learned

Question: What led to the formation of FAVORIOT? What role do you play in the day-to-day proceedings of the company?

Answer: FAVORIOT’s inception in 2017 was inspired by a trip to Silicon Valley in 2016, where the potential for visionary ideas became evident. Initially, we aimed to monitor Senior Citizens using IoT wearable devices and mobile apps. Looking back, we realized our strengths lay in the IoT platform we built. We could have tapped into the education sector earlier before expanding to business and corporate customers.

3. Overcoming Challenges and Ensuring Client Satisfaction

Question: What has the journey been like for Mazlan Abbas over the years? Looking back, what would you have done differently when starting?

Answer: Often, technology isn’t the main obstacle; it’s convincing people of how IoT can transform their businesses. FAVORIOT, as an early IoT Startup, faced the challenge of accommodating diverse customer needs. We should have targeted the education sector sooner before moving up the value chain. It’s essential to educate customers through training and webinars, align with their business goals, integrate with legacy systems, and focus on data for new revenue streams, cost savings, and better insights.

4. Advice for Aspiring Leaders and Entrepreneurs

Question: What would be your advice for young and aspiring leaders or entrepreneurs?

Answer:

1. Test your ideas early.

2. Seek feedback on your product and iterate until you find product-market fit.

3. Don’t be discouraged if your original ideas don’t succeed initially.

5. The Roadblock and Learning Opportunity

Question: What has been the biggest roadblock during your journey? What has been your most significant learning?

Answer: The initial challenge was gaining the trust of the first few customers. What we perceived about our product might differ from the customer’s perspective. The most valuable lesson was achieving product-market fit as quickly as possible.

6. FAVORIOT’s Vision for the Future

Question: Moving forward, what does the future look like for you and FAVORIOT?

Answer: FAVORIOT’s IoT platform has expanded from fewer than three countries in 2017 to 115 countries in 2021. IoT’s rapid growth is fueled by awareness and the convergence of various technologies. FAVORIOT aims to excel by becoming the go-to IoT platform for businesses worldwide, fostering IoTization in all sectors.

In this journey of IoTizing business, we learn that dynamic leadership, adaptability, early education, and understanding customer needs are essential. Additionally, embracing change and iterating on ideas are keys to success. FAVORIOT’s journey showcases how perseverance, innovation, and a commitment to evolving with technology can lead to remarkable growth and impact in the world of IoT.

The Power of Personal Connection

In our modern, digital-centric era, many believe that the key to connecting with customers lies mostly in virtual platforms. While online channels like social media have indeed transformed the way businesses engage with their audience, there’s an enduring magic in the traditional face-to-face interactions at events and exhibitions. Favoriot’s experience is a testament to this belief, and here’s a deeper dive into the reasons.

The Magic of Direct Interaction

Despite the leaps and bounds in technological advancements, there’s something irreplaceable about the genuineness of face-to-face conversations. Personal interactions foster a unique depth of trust and understanding, facilitating off-the-cuff questions, on-the-spot demonstrations, and authentic responses.

Establishing Authority Beyond the Podium

Being on the dais at a conference is both an honor and a platform to project expertise. It showcases an individual or a company as a pioneer in their field. However, away from the confines of the lecture hall, the dynamic environment of the expo floor allows for a more spontaneous, widespread interaction, reaching an even wider spectrum of attendees.

Show, Don’t Just Tell

The age-old adage, “seeing is believing,” holds especially true in a business context. An expo stand gives companies like Favoriot the perfect stage to bring their products to life. These real-time showcases don’t just catch the eye; they often sway decisions for prospective clients.

Connections That Count

The intensity of a 3-day expo brings together a plethora of potential clients, all under one roof. Visitors to such events come with purpose — to find solutions, forge partnerships, and scout for opportunities. Each chat at the stand isn’t just small talk; it’s a potential business opportunity.

Teaming Up with MDEC

Our presence at the Smart Nation Expo 2023 (from 19th to 21st September) wasn’t just as a standalone entity. We were proudly stationed under the MDEC Pavilion. This partnership with MDEC, a brand of significant repute, acted as a beacon, pulling attendees our way and setting the stage for Favoriot to be in the limelight.

The Ripple Effect Post-Expo

The buzz of an expo doesn’t die down once the stalls are dismantled. The real magic unfolds in the days and weeks that follow. Every expression of interest, each business card handed over, morphs into potential collaborations, partnerships, or client relationships.

To wrap it up, even as the digital world offers a sprawling canvas of opportunities, events like trade expos are like a goldmine of focused potential. For us at Favoriot, these events have been nothing short of transformative, with our recent stint at Smart Nation Expo 2023 as a shining example. We remain committed to tapping into the unmatched power of in-person connections, engaging heart-to-heart with our audience.

Why Mailing List is Far Better Than Social Media Followers for Startups (Build Them Now)

In the early stages of a startup, it’s easy to get excited with the idea of building a massive social media following.

Don’t get me wrong; a strong social media presence is important.

But how many of the followers really read your posts?

Only if they open the specific app, right?

However, the thrill of seeing your follower count rise can distract from a more intimate and arguably more effective form of communication: the mailing list.

With email, almost all people will read their inbox daily.

Email is a direct way to connect with that specific person.

The Social Media Dilemma

While it’s true that social media platforms offer incredible reach, the dynamic is inherently different.

The audience is far less captive; your posts are just one among hundreds or thousands that your followers scroll through each day.

There’s also the taxing task of growing your follower base organically, which requires consistent posting, engagement, and time-a daunting endeavor for a startup hustling to get off the ground.

The Mailing List Advantage

Emails offer a direct line of communication to your audience.

When someone opts to subscribe to your newsletter or leaves their email to download an eBook, they’re expressing an explicit interest in what you have to say.

For my startup, Favoriot, this direct approach led to a more global audience.

By offering free eBooks filled with tips, tutorials, and articles on IoT (Internet of Things), we not only gained an audience but also provided value upfront.

This strategy led to a global following, including overseas customers who subscribed to our platform.

Value Before Selling

One key to successful mailing lists is providing genuine value before ever making a sales pitch.

People are savvy; they know when they’re being sold to and can easily be put off by overt sales tactics.

On my LinkedIn, for instance, my newsletter isn’t just about Favoriot.

It’s about my journey in entrepreneurship and my general insights into IoT.

This balanced approach helps establish trust, rapport, and credibility-all crucial for a startup looking to build a loyal customer base.

Cutting Out the Middleman

What’s more, once you’ve built a substantial mailing list, you gain independence.

Unlike social media platforms, where algorithms and policies dictate your reach, your mailing list is yours to control.

In my experience, I no longer need third-party mailing software to send out thousands of newsletters.

A Global Objective

My objective is clear: to gain more followers and customers, particularly from overseas markets.

The key is to strike a balance, sharing valuable information without making the reader feel like they’re merely a potential sale.

People want to know who you are, what you stand for, and how you can add value to their lives or businesses.

In Conclusion

While it’s tempting to pour all your efforts into building a social media following, remember that emails offer a more direct, intimate line of communication with your audience.

Done right, a mailing list can be a powerful tool for customer acquisition, retention, and global reach-all while adding genuine value to your subscribers’ lives.

So if you’re in the early stages of your startup, or even if you’re more established but haven’t yet explored the power of mailing lists, now is the time to start.

Trust me, your future self-and your growing customer base-will thank you.