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  • Peter Kam Fai Cheung SBS

Three Highs

In heath conditions, the three highs are high blood sugar, high blood pressure and high cholesterol. In entrepreneurship, the three highs can be high investment, high risk and high reward. While we might like to keep the three-high health conditions away, I think no entrepreneurs would mind the high reward!

The challenge for entrepreneurs is whether the high intellectual and financial investment and the assumption of high risk in a business venture would necessarily lead to any high reward. The existing market at the domestic or global level is increasingly competitive. To design and articulate value propositions that capture or anticipate market needs or wants is hard.

Instead of taking the leap into the objective unknown, I think the first subjective step is to lower the financial costs by investing more intellectual effort. The low cost should also lower the risk of business failure, though not the hope for high reward. This is especially so if the creativity or innovation reflected in a business model's value proposition succeeds in developing a new market.

In starting my professional services consultancy business, I try to keep the cost structure as low as possible eg I even print my business cards myself, creating my personal touch on each card at the same time. I devote myself to create value in everything that I do eg while businesses tend to use point-to-point visual marks to signify their trades, I would suggest using non-traditional marks such as point-to-multi-points sound marks to make a difference. If my creative repertories such as tailor-made sound marks are wanted, the financial reward, relatively speaking, must be high, not to mention the high intellectual reward that I have already pocketed!

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