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'Companies, both old and new, build on technologies and service ideas that started in the
boom. I am confident that the technology business will emerge from the bubble era of the
1990s with several years of rebuilding, just as it did in the 1970s and 1980s.'
So what does it take to keep a company going after a boom-and-bust period?
Externally, there should be physical, legal and social mechanisms that boost speed in
product development and in promoting cross-firm learning about both technical and
business issues.
Entrepreneurs should also develop an environment that rewards risk-taking and does not
punish failure, as courage is an important element to be successful.
Internally, a company should consider hiring experienced people, seek advice from more
experienced business and technical people, solicit expert functional and technical
professionals to run its operations, and continue financing and working in partnership and
alliance with people who have an interest in the company's future.
Prof Miller should know, as apart from being an academic, he is also chairman of
Borland Software and a board member of Xpeed and HandySoft.
But it was his role as trustee of the Cheetah Conservation Fund, which conserves
cheetahs in the wilds of Namibia, that caught my interest.
Cheetahs and successful entrepreneurs have something in common: They both react fast
and move swiftly. This quality is crucial to transforming Singapore into an
entrepreneurial society and the Global Entrepolis.