Want to build a company in Brunei? Where to start?

As a starter, it took me awhile and several weeks of research to know where to start etc. Aside from that, Brunei offers a very good foundation for starts-up entrepreneurs. Building a company, is very a easy steps and is an important part of building your business. There's several government websites that offers advises on these sections (http://www.bedb.com.bn/doing_guides_setting_company.html).

"SETTING UP A COMPANY
The first step is acquiring approval from the Registrar of Companies for the use of the company’s name. The Registrar of Companies may refuse registration of a proposed name if it is identical or similar to the name of an existing business registered in Brunei Darussalam or if it is likely to mislead the public."

One highlight as for a Tutong residence, I was not very familiar where is Registrar of company in Brunei. It was made public by Ministry of Finance (click the link) that they have moved the Registrar of company in MOF building located near Stadium of Brunei. There is a section specific for registering your company a necessary steps before any licensing could take place.

There you will be given forms to fill in with proposed Company names and Business nature. Be sure to bring your copies of IC along to ensure smooth process.

I hope this helps for any starts up in Brunei. Good luck!

Ideas/Product is just a small step

There's this book co-written by Donald Trump and Robert Kiyosaki about business on their "Midas Touch" book (a very good book!). They introduced their business triangle on how most starts up failed after five years. Well lets have a look at it briefly:

According to their experiences as entrepreneurs, ideas (in this context Products) forms only a small part of their business triangles element. The rest that follows are weights more important than the ideas/product itself. In reality, that is very true, there are a lot of creative people out there with so much bright ideas, but most of the time, these ideas dissapears before it could see the light of day.

Thomas Edison once said that "Genius is 1 percent inspiration and 99 percent perspiration".

Well, how can we change that? What can we do to pursue those "ideas"?

Currently Im reading another book "Making Ideas happen" by Scott Belsky, he suggested a very good steps. In his observations, creative people took most of their time brainstorming with their peers and ends up with upsetting conclusion. Their sessions usually ends up with the last idea that were brought up or the interesting one. And thats it, its just notes of scribbles here and there which most of the time leads to no where. In one of his chapters, he mentions that, theres need to be a balanced between creativity and organisations. Jumping from ideas to ideas will do no good.

For right now, my take away point is:
- Ideas is just a step to accomplish it to realisation. The follow-up is far more important.
- Balancing creativity and organising them are very important to arrange them to action steps.