Final entrepreneur trait 9 : Failure is an option

FAILURE IS AN OPTION

Failure is a problem that causes us stress and lead to despair. But, I felt let failure manifests first in the business because we will be able to know that we make mistakes. So, do not despair advance, as not necessarily failed once, will fail forever. We need to mature and rational thinking about the business and do not give up because fortune is everywhere.

The characteristics of a successful entrepreneur are no initiative themselves, can see and seize the opportunity, perseverance, information, emphasizing the high quality of work, commitment to the agreement, grit-oriented, systematic planning, creative problem solving, self-confident, assertive, convince others and use strategy-leverage strategy.

For example, Harsukhlal Maganlal Kamdar, a leading department store Kamdar. The story about failure, but now he has managed the wholesale textile market. At first, the family business failed in the Second World War and the economic crisis in 1997. The secret of success is to have a career Harsukhlal Seb ab Gai an entrepreneur as hobbies and interests, and he was not afraid of making mistakes and learning from mistakes.

Entrepreneur trait 8 : Visionary

VISIONARY

According to the Merriam-Webster , visionary is defined as having or showing clear ideas about what should happen or be done in the future. An entrepreneur that has the visionary can see and analyze the future of their company. A visionary entrepreneur can make the best decision and to consider the challenges, threats and opportunity to be exposed. An entrepreneur that have the visionary is Tan Sri Dato Sri Lim Goh Tong. He is the founder of Genting Highlands. With his visionary skill, he had transformed Genting Highland from zero to become one of the most famous tourist attraction in the world. Tan Sri Dato Sri Lim Goh Tong was born in Anxi, China in 1918.

He left his school and works as a vegetable farmer after his father’s dead when he was 16 years old. In 1937, he started to step into Malay and worked as a carpenter with his uncle. After gaining experiences for 4 years, he went to become a building sub-contractor and ventured into scrap metal and hardware trading because of the deteriorating war environment in July 1941. Tan Sri Dato Sri had shown his characteristic of visionary, intelligence in search, identify and grab opportunities when he bought all of the second-hand machines from the Britain. He earned a double profit by traded the second-hand heavy machine after reconditioned all of them.

Tan Sri Dato Sri Lim Goh decided to join as a partner and became the biggest shareholder of the iron-ming company after he observed that the was a huge of resources in Malaya and gained profit amount fifty million in a few years. Genting Highlands was a very successful example that proved that Tan Sri Dato Sri Lim Goh Tong is a visionary entrepreneur. He came up the idea of built the hilltop resort when he was attending a dinner in Cameron Highlands. He realized that the breeze fresh air on the mountain had a great business potential that many and more people would visit the mountain resorts for relaxation and recreation

Entrepreneur trait 7 : Proactive

PROACTIVE

Proactive entrepreneurs acting without instructions from anyone. With the high initiative, entrepreneurs striving to develop and expand its business. Rated entrepreneurs seek opportunities to take early action include the need to initiate and explore the area - areas that may not have been explored.

Entrepreneurs also have insight into its business. Entrepreneurs looking ahead to act to enable the business to continue to grow. The changes will see entrepreneurs as an opportunity, not a threat. Through proactive attitude, the entrepreneur will make a choice based on the rational, rather than follow the feeling.

Among the prominent businessman Datuk Wan Mohammad Sani Salleh. He had entered the entertainment industry, as a model, singer and actress. At one time, he considers that if he wanted to continue living so. When it was his life just to earn a living and entertained themselves. He began to look even further after seeing his former co - be successful in the business model. With the high initiative, he started looking for something to explore for doing business. During his school days, he regularly using public transport, especially buses, express buses. Because of his interest in joining the field of transport for carrying on its business.

When starting a business, various allegations that had to be faced and the adversity he had to sleep in the office. This shows that he has the vision to expand its business. To improve skills in these fields, he often saw the way management and the methods used by other companies and do not be shy to ask.

He was a failure and withdrew its partners. He forced through it alone. He can manage it until the situation is stable. With skills and knowledge, he can manage the business better organization.

Entrepreneur trait 6 : Team oriented

TEAM ORIENTED

Communication is so almost important if you are to be an effective leader. Steve Jobs who have a tendency to think in a structured way often have their files perfectly organized, their schedules set weeks or even months in advance, and send out a meticulous and exhaustive follow-up. In business, the most important is communication to all people to know his product and service.

Steve Jobs was famously impatient and tough with the people around him, but his treatment of people, not laudable, emanated from his passion for perfection and his desire to work with only the best. He infused Apple employees with an ability passion for create groundbreaking product and belief that they could accomplish what seemed impossible and judge him by the outcome.

A structured thinker learns by doing and provide plenty of “how-to” information and don’t deviate from your message. As leader make sure your employees practically to make your communication convey a common sense rationale in straightforward terms and hand out a step-by-step implementation plan and guide for how thugs need to be done or if that’s not your strength, provide as many details as possible, and let someone else take the lead on creating a step-by-step plan. 

Communicate in concrete terms and explain the rules. The leader of the team must provide a structure for achieving the task as a team, make sure there is a good flow of information between team members and keep an eye on the balance of work.  

Entrepreneur trait 5 : Outcome oriented

OUTCOME ORIENTED

Based on Google, outcome oriented means someone who focuses on the result they made rather on how the progress of achieving the result. In a simpler way to say it, an entrepreneur will make sure the products they produced are in the highest quality form no matter how hard it is to create them. As examples, Sophie LaMontagne and Katherine Kallinis are two siblings entrepreneurs who own DC Cupcakes.

DC Cupcakes has been operating since 2008 as a family business. Those two siblings with the help from their mother baked cupcakes from scratch. Despite having a small cafe back then, they used the highest quality products they could get. Instead of regular butter, they used French butter even though the price is a lot more expensive than regular butter. The cocoa powders are a mix of Valrhona and Callebaut brands. Vanilla flavour, they used the higher quality vanilla beans from Madagascar.

This resulted a long line of customers everyday at their cafe. From a cafe, they decided to do a cupcake shop as their cupcakes were the selling hit. Even now that they have 6 cupcake shops all around America, the queues outside of their shops are never-ending. This is because Katherine Kallinis and Sophie La Montagne have outcome oriented trait in themselves, as they are making sure their products are produced using the finest qualities.

This shows that outcome oriented is needed in every businessmen and businesswoman because the number one aim to satisfy when operating a business is customers.

Entrepreneur trait 4 : Open Culture

OPEN CULTURE

“Open culture“ is a concept according to which knowledge should be spread freely and its growth should come from developing, altering or enriching already existing works on the basis of sharing and collaboration without being restricted by rules linked to the legal protection of intellectual property.

Mark Elliot Zuckerberg who is born on 14 May 1984 is an American computer programmer and internet entrepreneur. He is best-known as one of five co-founders of the social networking website Facebook. Mark Zuckerberg is a chairman and chief executive of Facebook. Mark Zuckerberg is an entrepreneur who practices an open culture in his business (social networking website Facebook). Mark Zuckerberg who’s an open culture because he has works from the same kind of desk as everybody else. Actually, he has his own desk that right in the mix.

In addition, Mark Zuckerberg has said that he create the social networking website Facebook which is a tool that help people connect with the people they want and share what they want and by doing this can extending people’s capacity to build and maintain relationships. Then, Facebook was not originally created to be a company but it was built to accomplish a social mission which is to make the world more open and connected. Lastly, “by having an open floor plan where people work close to each other. “ said Mark Zuckerberg.

Task B : Biography of entrepreneur

William Henry “ Bill Gates” III is an American business magnate, philanthropist, investor, computer programmer and inventor. He was born to an upper middle-class family and he started out as an ordinary child with a keep interest for developing software gaming programs at the tender age of 13. Then, after he being banned by the Computer Center Corporation along with three other his schoolmates for exploiting bugs within Computer Center Corporation’s operating system to attain free computer time and he was offered to work for CCC in exchange for additional time. After that, Bill Gates worked with Information Sciences to configure a computer programs. In 1975, Gates and Paul Allen as a co-founded Microsoft which becomes the world’s largest PC software company. In addition to, Gates held the positions of chairman, CEO and chief software architect during his career at Microsoft. Besides that, he also the largest individual shareholder until May 2014. He also has authored and co-authored books.

In 1976, Gates and Allen relocated to Washington and continued to develop programming language software for a miscellany of systems. However, Gates was actively involved in writing the code as well. After scoring the deal with IBM PC, Microsoft develops its standalone Operating Systems which is OS in 1985. Starting in 1987, Gates was included in the Forbes list of the world’s wealthiest people and the real net worth in 2015 by Bill Gates is 79.2 USD. Moreover, he is highly popular and virtually recognizable in the most unprecedented regions of the world and also the founding father of Microsoft. Gates is one of the best-known as entrepreneurs of the software programming. As an entrepreneur, Bill Gates has networked trait in his minds. Networked in this context would mean to have interactions with other people to exchange information and develop contacts, especially to further his career. Besides that, Bill Gates and Melinda gates foundation is dedicated to the improvement of global health and education and donates multimillion dollars every year. So, Gates made its possible for almost everyone around the world to get a personal computer and access the internet.

One after the other, there is a difference between looking at something and actually seeing what is there. So. The mind filters information and a person can look at something and not really see it. People can see what is in their path in front of them. In order to see more people need to override the mind filters and force themselves to be more observant. Hence, observant is one of the traits that entrepreneur must have. Observant may refer to making an observer and having observance of anything. For example, Bill Gates focused and invigorated sought out product strategies to communicate brand awareness and never ceasing until Microsoft became the king of its industrial castle. Soon after that, Gates always verbally combative and never hesitating to throw the odds down when someone put his company’s long-term interest in danger. He operated with a sarcasm meter that fired away mercilessly if he felt a proposed business plan had more holes in it than Swiss cheese.

Then, Bill Gates was a person that has a good visionary in one of his characteristic that make his become the most successful entrepreneur in the world. This visionary skill has let Bill Gates become the richest man in the world. While Bill Gates was 13 years old, his parents decided to send him to Seattle’s Lakeside School. In the same times, a computer company in Seattle had offered to provide computer time to the student. The Mother’s Club had purchased a teletype terminal for the student to use it. Bill Gates take the opportunity to use the teletype terminal which had made him became entranced with what a computer can do. He had written a tic tac toe program in BASIC computer language. Bill Gates meet his future partner, Paul Allen and became good friend with him at Lakeside School Both of them with s high visionary skill had their school computer privileges revoked  for taking the advantages of software glitches and  obtain free computer time from that Seattle’s computer company. After that they were offered debug the program by their school and they take the chance to developed a payroll program  for that Seattle’s computer company. When Bill Gates was 15 years old, he and Paul Allen had already planned to start their business by developed “Traf-o-Data”. However, he had to delay his business due to his parents wanted him to finish his school and became a lawyer in future. Bill Gates knew that there were great chances for them to start his career when he saw the article about Altair 00 minicomputer kit on the edition of Popular Electronics magazine which showed by Paul Allen. Bill Gates and Paul Allen contacted the MITS company and offered themselves to write the software tat can run the Altair computer. Lastly, Bill Gates was hired at MITS. In 1975, Micro-Soft was formed by Bill Gates and Paul Allen. In November 1980, Bill Gates had met with IBM and convincing the IBM that Bill Gates’ company could meet their needs after IBM looked for software that can operate their upcoming personal computer (PC). Bill Gates saw the chances to develop Microsoft by making the Microsoft as the exclusive licensing agent and full owner of the software in IBM PC. He had gained a big profit by proposing that IBM pays a licensing fee for choices of the software sold with their computer. The visionary of Bill Gates that can grab any chances had made Microsoft’s growth exploded between 1978.

Next, Bill Gates was also an open risk taker. He has met a lot of risk and challenges among his career. However, he has successfully solved all of the problems and became the most successful people in the world. The first risk that Bill Gates take is when he stopped his study. Bill Gates had made a decision to stop his study in law at Harvard University. He stopped his study and worked for MITS. This decision might spoil his future life if he was fired by MITS. However, Bill Gates dare to face the risk to achieve his dream. Another example that showed that Bill Gates was an open risk taker is when he and Paul Allen went to MITS, proclaiming that they were working on BASIC software programme that can run an Altair computer even that they didn’t have a Altair to work with the code to run it. However, Bill Gates take the risk to do the demonstration  and do the test run at Albuquerque even though he had never tried it out on Altair computer. The third risk that take by Bill Gates is he meet and convincing the IBM them that he and his company could meet their needs even that Microsoft had not developed the basic operating system that could run the IBM’s new computer. Bill Gates take the risk that may get sued  then make a deal with a software developer by making Microsoft to became the exclusive licensing agent and the full owner of the software by no telling them of the IBM deal.  Bill Gates was an open risk taker when he created a new software format that was similar to the Macintosh system, which was introduced by Apple Computer Corporation. Even that he had been sued by the Apple company, but Microsoft had prevailed in the court.

Lastly, failure is a problem that causes us stress and lead to despair. But, I felt let failure manifests first in the business because we will be able to know that we make mistakes. so, do not despair advance as not necessarily failed once will fail forever. we need to mature and rational thinking about the business and do not give up because fortune is everywhere. The characteristics of a successful entrepreneur are no initiative themselves, can see and seize the opportunity, perseverance, information, emphasizing the high quality of work, commitment to the agreement, grit-oriented, systematic planning, creative problem solving, self-confident, assertive, convince others and use strategy-leverage strategy.

Bill Gates is founded Microsoft with Paul Allen. There are  launched  Microsoft about 40 years already. Bill Gates left his daily job Microsoft in 2008 and 2014, he stepped down as chairman until now. He also began serving as technology advisor. In 2010, Bill gates Melinda challenged the global health and I also respect that now he become Forbes who was people richest in the world.

Entrepreneurship trait 3 : observant

OBSERVANT

Among the characteristics of entrepreneurs who are in business is as an observer. Entrepreneurs act as observers whether within or outside the organization. Entrepreneurs who conduct observations in the organization can know the level of performance of the management staff and workers on the ground. This, entrepreneurs can implement further measures to ensure the smooth running of its business organization.

Entrepreneurs also act as an observer outside the organization. It is, an entrepreneurial organization can identify the level of relations with external parties such as stakeholders. Organizational relationships with stakeholders such as suppliers, investors, financiers, consumers and so must be going well.

Moreover, entrepreneurs act as observers to see and take opportunities. This could increase the competitiveness of businesses. Opportunities are available to be used preferably by entrepreneurs to expand its business organization. In addition, the role of the entrepreneur as an observer may also increase the knowledge and skills they possess.                         

For example, Tan Sri Mustapha Kamal Abu Bakar was a prominent businessman. He began his career in government service. He then moved into the private sector. He was a man who held the position of managing director of Shah Alam Properties Sdn Bhd. At this stage, that highlights the characteristics of entrepreneurs at his disposal. Among the observers, strengthen skills, knowledge, experience and skills required to manage the organization.

Up to a certain level of confidence, he has started his own business. At first he formed the group of companies EMKAY. He as Executive Manager and practical active in supervising and directing the operations of the group by formulating the vision and goals at the same time pour knowledge to its staff. He managed to bring Ekland status as property management company that managed to develop areas which were previously relatively isolated and no attention to the elite area complete with information and communication technology infrastructure such as Damansara Perdana, Cyberjaya.

Entrepreneurship trait 2 : Open risk taker

OPEN RISK TAKER

Datuk Dr.Maznah is the one woman in an entrepreneur. Her jobs as Chairman of Securiforce. She is the Managing Director of the Securiforce Group of Companies Dubbed as the Iron Lady of Malaysia, she entered a man-dominated business security guard and she has tasted poverty to be a succesfull entrepreneur. Datuk Maznah is the exploit himself to take big risks in this job. She so very  creative person and innovative that can get the idea to create its own security van and equipment that has been provided.  She also very disciplined and thrifty in managing the cash flow, resources and capital in their business. Securiforce provides a complete package and the total pioneered the concept of ‘total security’.

Then I heard the securiforce has been expanding his branches to  internationally by logistics setting (shipping agent, sea and air) and international. This work should be carried on by men because this work is very dangerous to women, but Datuk Maznah took foster high-risk companies in Malaysia. Female entrepreneur more likely to take risks than their male counterparts. She may be more willing to accept the risk because they face a more hostile and prejudicial environment but as a woman, they looking a soft jobs and balance with her studies.

She is brave though she a woman to have her own company that would make it less risky to start the job. She is the first woman to be involved in the security business. Recently in Malaysia, the business owned by women increasing especially in the services sector. Her personal qualities required to become successful women entrepreneur in Malaysia.

Entrepreneurship trait 1 : Networked

NETWORKED

Based on Google, the word Network brings the meaning of linking with machines in order to operate effectively. In entrepreneurship, entrepreneurs need to have networked trait in their minds. Networked in this context would mean to have interactions with other people to exchange information and develop contacts, especially to further one's career. Nowadays, social medias have helped a lot of entrepreneurs to make their business grow. For instance, Arieni Ritzal, a Malaysian entrepreneur who owns Gula Cakery in Shah Alam.

Arieni Ritzal started her baking business on Instagram with the same name of her cafe now, Gula Cakery. She posted her baking pictures and gained a lot of customers’ requests. Back then, she delivered her cakes to Subang and Klang Valley areas. By entertaining customers like this, she met a lot of people and attracted more customers to buy her cakes.

After some time, Arieni Ritzal appeared on television and this made her well known. She realized she wasn’t capable of baking all of her customers’ requests on her own, therefore she started her own cafe. Gula Cakery now has 7 workers working, baking and cooking alongside with her. They will tell their special menu for each day online, both on Facebook and Instagram. The opening and closing time would also be announced through Instagram. She used the internet to communicate and interact with people, in the same time to attract more customers coming.

Arieni Ritzal is the example of having the networked entrepreneurship trait by appearing on the television, using the Instagram to connect with customers, and not forgetting by creating more job opportunities to people out there.