Sunday, August 30, 2015

Reference List

(1) Aman Shah, S. H. & Soon  Teik Lan, C. (2013). Entrepreneurship. Selangor, MY: Oxford Fajar Sdn. Bhd. [a] [1] [2] [3] [4]

(2) Agrawal, A. (2014, October 20). The Connection Between Entrepreneurship and Happiness. Inc.com. Retrieved August 27, 2015 from http://www.inc.com/aj-agrawal/the-tie-between-entrepreneurship-and-happiness.html [c(i)]

(3) Ashbrook, T. (n.d.). Risk in Entrepreneurship. Entrepreneurship.org. Retrieved August 25, 2015 from http://www.entrepreneurship.org/resource-center/risk-in-entrepreneurship.aspx [h]

(4) AHfansite. (2009, March 21). The Story of Bill Gates - a Rich Man. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=GNdH6uV-UY4 [x]

(5) Blackwell, E. (2012, September 28). Rich or Not, Entrepreneurs Are Happiest in Study. The Street. Retrieved August 27, 2015 from http://www.thestreet.com/story/11721398/1/rich-or-not-entrepreneurs-are-happiest-in-study.html [c(ii)]

(6) Branson, R. (n.d.). Richard Branson on Taking Risks. Entrepreneur. Retrieved August 26, 2015 from http://www.entrepreneur.com/article/226942 [m]

(7) Chand, S. (n.d.). Entrepreneurship: Characteristics,Importance, Types, and Functions of Entrepreneurship. Your Article Library. Retrieved August 23, 2015 from http://www.yourarticlelibrary.com/entrepreneur/entrepreneurship-characteristicsimportance-types-and-functions-of-entrepreneurship/5228/ [b]

(8) Citipeak Events. (2014, August 14). What are The Benefits of Entrepreneurship? - Citipeak Events Reveals All. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=InO1ZFee_d8 [o]

(9) Constable, K. (2015, March 30). The 5 Types of Entrepreneurs. Entrepreneur. Retrieved August 24, 2015 from http://www.entrepreneur.com/article/244210 [c]

(10) Deeb, G. (2014, November 8). The 4 Types of Entrepreneurs -- Which Are You? Forbes. Retrieved August 24, 2015 from http://www.forbes.com/sites/georgedeeb/2014/11/07/the-4-types-of-entrepreneurs-which-type-are-you/ [d]

(11) Dr K. (2009, September 21). Tan Sri Syed Mokhtar Al Bukhary A Tribute. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=Lw8elNZZpck [u]

(12) EconFree. (2012, July 26). Take the Risk. Be an Entrepreneur. Retrieved August 25, 2015 from https://www.youtube.com/watch?v=wNutNzJ7NNA [i]

(13) Entrepreneur. (2014, July 24). 25 Common Characteristics of Successful Entrepreneurs. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=e5sbQpq1VGg [r]


(14) Epipheo. (2012, March 12). How to Be an Entrepreneur. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=0JaPaeFYE5U [p]

(15) Fallon, N. (2015, July 7). Learning to Be an Entrepreneur: 5 Steps to Success. Business News Daily. Retrieved August 26, 2015 from http://www.businessnewsdaily.com/4959-how-to-be-an-entrepreneur.html [q]

(16) Insurance Institute of India [iimtnew]. (2014, December 11). Difference between entrepreneur and business man. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=vwNv_K059qY [n]



(17) Krasny, J. (2014, November 19). Are You Addicted to Entrepreneurship?. Inc.com. Retrieved August 27, 2015 from http://www.inc.com/jill-krasny/is-entrepreneurship-addictive.html [b(i)]

(18) Mashable. (2014, February 4). The Illustrated Story of Facebook. Retrieved August 24, 2015 from https://www.youtube.com/watch?v=PoUJQJB7jVc [e]

(19) Minute MBA by OnlineMBA.com. (2012, October 25). 5 Surprising Traits of Successful Entrepreneurs. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=CJAMUQFTXBg [s]

(20) Newlands, M. (2014, October 27). 10 TV Shows Entrepreneurs Can Learn From. Inc.com. Retrieved August 27, 2015 from http://www.inc.com/murray-newlands/10-tv-shows-entrepreneurs-can-learn-from.html [a(ii)]

(21) Nhuan Nguyen. [Nhuan Nguyen]. (2014, December 17). [Official] Top 10 Richest People In Malaysia 2014 - Forbes List 10. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=1m8REHPyxuo [v]

(22) Phillips, S. (2007, July 25). A Brief History of Facebook. The Guardian. Retrieved August 24, 2015 from http://www.theguardian.com/technology/2007/jul/25/media.newmedia [f]

(23) Pofeldt, E. (2014, March 5). Survey: Entrepreneurs Are Happiest People On Planet. Forbes. Retrieved August 27, 2015 from http://www.forbes.com/sites/elainepofeldt/2014/03/05/survey-entrepreneurs-are-happier-than-employees/ [c(iii)]

(24) Pooi Ling, Y. (2009, September 10). Syed Mokhtar in Kuwait Telco Foray. The Star. Retrieved August 26, 2015 from http://www.thestar.com.my/Story/?file=%2F2009%2F9%2F10%2Fbusiness%2F4681823 [w]

(25) Robinson, J. (2014, January 11). The 7 Traits of Successful Entrepreneurs. Entrepreneur. Retrieved August 26, 2015 from http://www.entrepreneur.com/article/230350 [t]

(26) Rodov, F. & Truong, S. (2015, April 15). Why Schools Should Teach Entrepreneurship. Entrepreneur. Retrieved from August 25, 2015 from http://www.entrepreneur.com/article/245038 [k]

(27) Schiff, L. (n.d.). 3 Secrets to Bill Gates' Extraordinary Success. Inc. Retrieved August 26, 2015 from http://www.inc.com/lewis-schiff/bill-gates-extraordinary-success-secrets.html [y]

(28) Shiroku Production. (2012, August 7). Zalora (Malaysia) commercial 30sec spot - 2 languages. Retrieved August 24, 2015 from https://www.youtube.com/watch?v=vASLFp1z82E [g]

(29) Todrin, D. (2012, April 20). 7 Ways to Help Ensure Your Business Succeeds. Entrepreneur. Retrieved August 27, 2015 from http://www.entrepreneur.com/article/223390 [a(i)]

(30) Top10. (2014, August 8). Top 10 Most Famous Entrepreneurs. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=6WWkzoESufQ [z]

(31) Watch Mojo.com. (2015, January 22). Top 10 Celebrity Entrepreneurs. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=jRE-VwNNKiw [z(i)]

(32) Weisul, K. (2014, June 18). The Key to Happiness? Entrepreneurship, Duh. Inc.com. Retrieved August 27, 2015 from http://www.inc.com/ilan-mochari/meet-the-company-that-built-the-worlds-longest-zip-line.html [c(iv)]

(33) Zwilling, M. (2012, March 25). Ten High Risk Drivers Every Entrepreneur Faces. Business Insider. Retrieved August 25, 2015 from http://www.businessinsider.com/ten-high-risk-drivers-every-entrepreneur-faces-2012-3?IR=T& [j]

(34) 321fastdraw. (2013, November 2013). "Kauffman Sketchbook - Entrepreneurial Mindset" - 321 FastDraw. Retrieved August 25, 2015 from https://www.youtube.com/watch?v=zv6rfwbwIj4 [l]

Saturday, August 29, 2015

Happiness in Entrepreneurship

Assalamualaikum, dear readers!
Entrepreneurship is really something, right? In some way, you are attracted to it, don’t lie to me. He he he! Believe me, there is happiness in Entrepreneurship. Don’t believe me? Wink! Take a look at the statements below.

Agrawal (2014) claimed, “What's interesting is that when many of us look at why we are entrepreneurs and what makes us happy, there are differences. The common belief is that making more money will increase how happy we are,”. [c(i)]


The Real Way to Find Flow


According to Agrawal (2014), there is happiness in entrepreneurship, he said, “So if fame and money are not good reasons for being an entrepreneur, what is? I believe the answer is relationships and self-growth. When we experience "in the zone" states as entrepreneurs, there are common symptoms. The activity we're taking part in is challenging, and measurable. Also, at those moments in time we don't care what others think. When you see world-class athletes perform, you'll notice how they are able to screen out all other distractions. The motivation to succeed is produced internally. This is happiness through self-growth. We enjoy these moments as entrepreneurs because we are improving ourselves through challenging activities,”.

Agrawal (2014) stated, “Entrepreneurship brings us happiness is through the relationships we develop. These connections have now become less common, as technology has allowed us to focus on relationships less,”. By creating strong bonds with people can make one become happier, as stated by Agrawal (2014), “Ot is in our best interest as entrepreneurs to make sure we work with people we can develop strong ties with. We can optimize our happiness by having a company that has people who are close, work together, and trust one another,”.


More money, more smiles!


According to Weisul (2014), “Established women business owners ranked their happiness more than twice as high as non-entrepreneurs and non-business owners,". [c(iv)]

Weisul (2014) claimed, “More money--not surprisingly--was linked to higher levels of well-being. But when the survey subjects were split into thirds by income, entrepreneurs in the middle third were just as happy as non-entrepreneurs in the highest third. Weisul (2014) said, “It could be, however, that happier people are more likely to become entrepreneurs. The report points out that those with higher levels of well-being were more likely to see opportunities for a business and more likely to believe they're capable of starting one,”.


PROVEN: Entrepreneurs are Happiest


Blackwell (2012) quoted, “The study, by Wharton management professors Ethan Mollick and Matthew Bidwell, surveyed 11,000 graduates of the Wharton MBA program, asking them to rate their happiness with their career overall, their current job and their work-life balance. It should be noted that this was not a particularly entrepreneurial-minded group: The majority took jobs in banking, consulting or financial services after completing their degree. But during the course of their careers, about 20% of the graduates ended up starting their own businesses. In general, the study contradicted the old saying that money cannot buy happiness; the more money someone earned, the happier they tended to be. The older respondents also tended to be happier than the younger ones,”. [c(ii)]

According to Pofeldt (2014), “The Global Entrepreneurship Monitor 2013 Global Report, prepared by Babson College and other universities and released in January, underlines something that I’ve noticed in my own reporting for years: Entrepreneurs really are happier than other people. And in innovation-driven economies like the U.S., women entrepreneurs are even happier than their male counterparts. Whether they run early-stage startups or established businesses, business owners in all regions rated their own well being higher than counterparts who didn’t own a business. As you might expect, those in established businesses reported higher levels of well-being than those in startups, who are still contending with struggles like finding seed money and customers,”. [c(iii)]

My passion, my happiness!



To me, Entrepreneurship is interesting and thus brings happiness, to me. Maybe I have never indulged myself in creating an innovation or start up a business. But, I am near to that. I love business. I love doing it. I’m intrigued to Entrepreneurship because I know that it will not just bring me more money, but also it can bring me happiness. Doing something that I love, something that I’m passionate about is my happiness. Entrepreneurship indeed has caught my heart, at first glance. Aww! 


References:

Agrawal, A. (2014, October 20). The Connection Between Entrepreneurship and Happiness. Inc.com. Retrieved August 27, 2015 from http://www.inc.com/aj-agrawal/the-tie-between-entrepreneurship-and-happiness.html [c(i)]

Blackwell, E. (2012, September 28). Rich or Not, Entrepreneurs Are Happiest in Study. The Street. Retrieved August 27, 2015 from http://www.thestreet.com/story/11721398/1/rich-or-not-entrepreneurs-are-happiest-in-study.html [c(ii)]

Pofeldt, E. (2014, March 5). Survey: Entrepreneurs Are Happiest People On Planet. Forbes. Retrieved August 27, 2015 from http://www.forbes.com/sites/elainepofeldt/2014/03/05/survey-entrepreneurs-are-happier-than-employees/ [c(iii)]

Weisul, K. (2014, June 18). The Key to Happiness? Entrepreneurship, Duh. Inc.com. Retrieved August 27, 2015 from http://www.inc.com/ilan-mochari/meet-the-company-that-built-the-worlds-longest-zip-line.html [c(iv)]

Business is Addictive



Assalamualaikum! Interesting topic, right? Business is addictive. Once you’ve become a businessman or an entrepreneur, you will feel this topic. Well, as a businesswoman, myself, I find business is indeed addictive. Why, why, why do I say so? 


Overwhelming with profit


Even though the profit is not much, you will still be happy because at least, you gained something from your effort. It's all about the money, money, money $$$! Well who does not love money right? I know I do. He he he! But, it's mostly about experience, actually (and money).


Satisfied customers

When you're selling something and that something is desirable by people, you will see the faces of theirs. They will glow. Maybe I sounds exaggerating, but it's the truth. Let's say, when you're buying something that you really like, a pair of Nike shoes, for example, you'd be delighted if you get to buy it right? I mean, you've been wanting to have them all along and you're finally getting it. Of course you will be happy right? You will be the happiest person at the moment. Same goes with everyone. Satisfied customers are entrepreneurs' long lost love. They are the ones who will make entrepreneurs and business people happy. Seeing someone's happy is intriguing and it becomes like an addiction. You have made someone happy, so you want to always see that person happy. It's a continuous want. Therefore, it become an addiction, in a good way. 


Customers’ loyalty


Having loyal customers is an amazing feeling. It's like having fans gathering around you, wanting your signatures. You will feel famous and needed. Mostly, needed. You wouldn't sell something that is not needed by people. A wise business man or entrepreneur would find what people needs, and try to fulfill their needs. When you have loyal customers, you will feel like you need to always fulfill their wants and needs. You don't want to ever neglect them. You will eventually care about them, not just in terms of their needs, but also in terms of their lives and their well-being. Trust me, you will feel it once you have indulged in the biz world.


All in all, business is addictive. 


Krasny (2014) quoted, "For a lot of people, one ride on that roller coaster is enough. But for some serial entrepreneurs, that cycle isn't just attractive, it's downright addicting in an unhealthy way, according to recent research. Some signs you may be addicted to entrepreneurship include obsessing over your business, neglecting friends and/or outside interests, and experiencing withdrawal symptoms like anger or depression when being forced to turn away from your business. You may also be addicted to starting companies if you're increasingly spending more time with your business than on your health or your personal relationships. It's important to note this category of behavioral addiction mirrors that of gamblers or Internet addicts and not drug or alcohol dependents. And while the professors interviewed just six entrepreneurs, the purpose of the paper was to create a framework for discussing this behavior,". [b(i)]


Reference:

Krasny, J. (2014, November 19). Are You Addicted to Entrepreneurship?. Inc.com. Retrieved August 27, 2015 from http://www.inc.com/jill-krasny/is-entrepreneurship-addictive.html [b(i)]

My Experience in Business

Assalamualaikum, everyone! Greetings. 

I believe by indulging yourself in business, you will be happy.

After you have read this blog, you guys might be wondering why am I interested to create a blog entitled Entrepreneurship, at the first place, right? Well, maybe some of you are curious. Let me end your curiosity. I created a blog entitled Entrepreneurship and talked about all sorts of entrepreneurial knowledge because obviously I love Entrepreneurship! I love business. I'm actually a business woman, myself.  In this post, I will tell you about my experiences, my wonderful experiences being a business woman or a business girl.

I've started indulging in the biz world ever since I was in semester 3, still studying in KPM Indera Mahkota in Diploma in English Communication (DEC). The funny thing was, when I was semester 1, I sent my application to be a PSN (Persatuan Siswa Niaga) member. But then, throughout the whole semester, I did not even go to any of the meetings. Opps, my bad! Well, I was quite lazy at the time. Semester 1 was somewhat hectic because I was new and everything seemed difficult for me to handle. I didn't even know why I wanted to joined the PSN at that time.

An advertisement I made and spread all over the girl hostels in KPMIM and via WeChat.

When I was in semester 3, Allah sent me his Hidayah (guide). I started to realize that money is important when you are a student. I started to cut down the FAMA (Father Mother Allowance) and started to gain my own money. I went to Instagram and searched for things that can be sold. At the time, wideshawls were totally in the market. I went ahead and bought a bundle of wideshawls from an instashop. First, I bought the pattern ones, only. When you buy something in a wholesale form, you will get a wholesale price, much lower than the price of a piece. I started my business without my parents knowing. I did it secretly. At the time, my financial was getting more stable, alhamdulillah. After about three times re-buying wideshalws from the same supplier, I wanted to try something new. I went on Instagram and bought boxes of Obuse lip tints. I'm sure if you're a girl, you know what they are. They're these little lip tints that are very convenient and compact from travelling and all. The colours are all sheer and natural. It's like adding a glow on your face. 




Throughout the whole semester, I was in a lot of pressure with studies and friends. My business didn't interfere my studies. But, I had some misunderstandings with my friends and a lot of back-talkings. I was indeed stressful when I was in semester 3. I think semester 3 is by far the worst semester that I've ever had. Despite all that, my business had gotten better and I gained a lot more customers and profit. I started to gain many loyal customers. They keep on repeating orders from me. So, I started making promotions and discounts. A lot more people came to me! I was the happiest person at the time and the best thing was I had no problems financially and my mother didn't know that I was doing very well with my financial, because I'm actually a shopaholic. I tend to waste money on things. But, after I have indulged myself in business, I started to shop less and sell more. It felt amazing!




The happiness continued with the real deal when my mother found out that I have been doing business over the past months. I was scared at first. But, my mother was into wideshawls at the time. Therefore, there was this one time that my mother, my sisters and I went to Jalan Tunku Abdul Rahman (TAR) and we bought bundles and bundles of wideshalws, mostly are plain, glitter and crumpled. It was a lot of fun, going shopping with your mom and sisters and asking for lower prices from the sellers. It's an amazing feeling when you bargain with the seller to lower the price of something that you want to buy and you win the bargain. As the malays say, "Untung gila bapak". Hahaha! It's true though. It is profitable to sell things that you bought via wholesale. Then, I went back to Kuantan and continued selling the same thing, just more. My sales finished early. I wasn't expected that actually. All of the girls were crazy over wideshawls at that time (2014). So, I had a wonderful experience in business when I was in semester 3, despite my tension towards studies and friends. The highlight of the semester would be, I got a lot of profit and in terms of studies, I managed to achieved a 4.00 of GPA. Alhamdulillah. At the end of the day, it turned out that semester 3 was one of the unforgettable semesters I've ever had. Wink!

The logo of Daisy Hijab (Bawal Crepe 45") created by me

When I was in semester 4, bawal crepe was totally admirable by most girls. Who wouldn't want a perfectly shaped scarves (tudung)? I sold bawal crepe especially for my college mates as we are not allowed to wear any other tudung except bawal crepe and instant scarfs (tudung sarung/tudung awning). Well, of course I grabbed the opportunity to sell what the girls want! Bawal crepe or the commercial name that I used was Daisy Hijab, is a 45" one. It is perfectly shaped and very comfortable. I had tons of customers back in semester 4 and I kept on repeating hundreds of orders from my supplier, until the end of the semester. Overall, everyone was happy wearing the bawal crepe. I saw my customers' happy faces when the bawal crepe hijab arrived. I love seeing that. That's why I love doing business. I want to make people happy, and I want to always see smiles on their faces. It's an undescribable feeling that I want to feel, always.



In semester 5, which is this semester, I sold POCO caramel popcorns. They're very sweet! I love it so much. In TSK (Terminal Sentral Kuantan), the popcorn was sold at the price of RM 8. It was rather expensive. I went to Instagram and searched for wholesalers for that particular popcorn and fortunately I found a dropshipper who lives in Kuantan. I bought 2 boxes and she sent me the boxes herself via delivery. So I didn't have to bank in any money in any accounts, so that was a plus point. Again, for the popcorn, I gained a lot of customers because I sold the popcorn at an affordable price and a lot of them sent good feedbacks to me, they said they loved the popcorn and they're very delicious and all. I was very happy. I'm very happy. I'm a happy bussiness girl. He he he!

All in all, I love business and I'd love to be an entrepreneur one day. I want to have my own busienss, create my own products and I want to make people happy and satisfied with the things they'd buy from me, inshaAllah.

Thursday, August 27, 2015

Entrepreneurship in Media

Assalamualaikum, dear readers!

As you can know, there are intermediaries for everything, including Entrepreneurship/business. Media plays an important role in spreading entrepreneurial knowledge and skills. If you want to know more about something, where do you turn to? The internet! Right. Me too. Television and magazines are also great knowledge providers. There are about so many resources that a business man and an entrepreneur can look up to for references. Not just for them, but also for beginners. 

Newlands (2014) said, "Inspiration for running a business can come from anywhere. Wisdom is found in kernels throughout life, and you can find quite a bit in the media you choose to engage in during your off time. Even shows seemingly unrelated to business can provide great ideas about running you business, so long as you know what to look for,". [a(ii)]

Magazines


Magazines like Entrepreneur and Forbes are great resources of business and entrepreneurial knowledge! These are great readings even for regular people. These are not just wasted magazines full of gossips and celebrity's dishes. Entrepreneur and Forbes are prestigious magazine companies.



Television Shows

The Apprentice


Based on Newlands (2014)'s claim, "Even though reality television is mostly geared at entertainment, it does do a good job of showing some group dynamics (albeit slightly dramatized). The Apprentice is a great example of this, where even though entrepreneurs are put on the same team in the beginning, they are still primarily concerned with their own success. You can learn from their explosive conflicts on how to avoid similar ones in your business,".


Keeping Up With The Kardashians


According to Newlands (2014), "Yes, even this show has something to teach you! The Kardashians may not be everybody's style, you cannot deny the fact that their branding is impeccable. You can use the same tricks to get to the top of your industry just by watching their show. As long as you know how to adapt them for your business, you can build a better brand one day at a time,".


Ramsay's Kitchen Nightmares


Newlands (2014) said, "Forget the US version of this show; it is far too dramatized for any solid takeaways. However, the UK version does an excellent job of analyzing why the restaurants are failing and gives pragmatic solutions to turn things around. This well articulated business advice is something you can take with you,".


The Bachelor


Newlands (2014) quoted, "You may find yourself asking how a show about dating can help you run a business, but The Bachelor teaches a lot of lessons--how to deal with different types of communication, how to play the game, and how to get along with your competitors. Cooperation and a healthy sense of competition are what drives businesses to innovate and continue to grow, so to better your business, make friends with them, but also learn when to let go,".


Reference:

Newlands, M. (2014, October 27). 10 TV Shows Entrepreneurs Can Learn From. Inc.com. Retrieved August 27, 2015 from http://www.inc.com/murray-newlands/10-tv-shows-entrepreneurs-can-learn-from.html [a(ii)]

Ways to Make a Business Successful

Assalamualaikum. We meet again! 


Well, now we’re halfway to the end. So, by now, I’m sure some of you have already intended to start your own business, right? When you have your own business, you must have wanted to make it becomes successful, right? I mean, who wouldn’t that? Everyone does. Now, let’s look at the ways on how to make a business becomes successful. 

Todrin (2012) quoted, “Entrepreneurs -- whether they're an unemployed person striking out on their own or a seasoned veteran trying to get the mojo back again -- must do things differently in order to survive. Everyone must change, especially small-business owners,”. [a(i)]


1. Determination


In whatever that you do, you have to have determination in yourself. Believe that you can, you must and you will! Have a strong heart, have a strong will! You can do it! Take gradual steps, little by little. But, don’t worry. If you are determined in doing something, you will reach the finish line, soon. Yes, life is not a race. But, race with yourself! Challenge yourself! After all, who wouldn’t want to work and strive hard in something that they love doing? You have passion in Entrepreneurship, strive for it! Never ever give up. Strong will is important. Remember!


2. Have a written plan



If you want to succeed as an entrepreneur, you have to start from scratch. Start with what? An idea. You have to write them down, and plan your visions wisely. According to Todrin (2012), “Without a plan, it is merely a dream. It doesn't have to be a book, but you need a few pages outlining specific objectives, strategies, financing, a sales and marketing plan, and a determination of the cash you need to get things done. Writing it all down is a crucial first step,”.


3. Keep your ego in check and listen to others


Todrin (2012) quoted, “Advisors are crucial because you need people to bounce ideas off, inspect what you're doing, and push you to greater accomplishments, holding you accountable for what you are committing to do. Always be good to your word and follow through on commitments, even when difficult and challenging. This isn't about you; it's about the business. Don't take things personally and stay out of emotion. Do not let your ego control,”. Easily said, throw the ego away, far far away. You don’t need it here, in the biz world.


4. Keep track of everything, and manage by the numbers


According to Todrin (2012), to make a business become successful is to, “Create written systems for everything, because you will reap benefits from them later on. This is how you train your employees and retain consistency. Know your numbers and check them daily and make all decisions based on what they tell you. One of the most important calculations is cash flow pro forma. Determine how much cash you need to do the business, and do not start without the required cash on hand,”.


5. Reinvent your business


You have a business, it’s not working out too well, you’re not gaining much profit. What to do? Reinvent your business! According to Todrin (2012), “It is net profit, not gross revenue, that you want to focus on. Separate yourself from your history and create a new competitive advantage, be it a focused niche or super service, but not by discounting,”. 


Reference:

Todrin, D. (2012, April 20). 7 Ways to Help Ensure Your Business Succeeds. Entrepreneur. Retrieved August 27, 2015 from http://www.entrepreneur.com/article/223390 [a(i)]

Wednesday, August 26, 2015

World Entrepreneurs

Assalamualaikum. Well, we have identified successful local entrepreneurs. How about we get to know international entrepreneurs? Well, this world is full of entrepreneurs. Just like the previous post, I am going to talk about 1 entrepreneur only and the rest of them will be shown in the form of videos. Now, without further ado, let's go ahead and get to know the ever popular, successful, crowned The Richest Man On Earth, the one and only, Bill Gates, the inventor of Microsoft.

Photo by Google

Schiff (n.d.) claimed, "Gates took Microsoft to the top by executing brilliantly, and always in service of other people's visions, never his own. By parlaying his way through a series of ever-bigger business deals--all with fairly ordinary products--he went from zero to billions in less than a decade,". [y]



For your information, "First Gates positioned Microsoft as the junior partner to the pioneering MITS, and then served in a similar junior-partner role with industry leader Digital Research. The little-known version of Microsoft's marriage to IBM is that Gates started out as an ardent matchmaker between Digital Research and IBM. Gates eagerly tried to bring the two giants together, content to be the second-class software in a marriage between big players. But when Digital Research and IBM couldn't tie the knot, Gates stepped into the void, fearing that IBM might quit the PC project altogether. No matter what, Gates respected IBM's potential power in the PC market and wanted to be a part of it. The irony is that by the time Gates had gone on to become the richest man on earth, the first two of his "senior" partners were long gone and forgotten. The third, IBM, stopped making PCs in 2004," (Schiff, n.d.).


Looking at this picture makes me think that people nowadays age more quickly than the older generation. This is a picture of Bill Gates when he was young. In his 60s, Bill Gates still look like this! Only with some wrinkles here and there. But, still. He still looks quite the same!


Now, let's take a look at world entrepreneurs to get inspired!





References:

AHfansite. (2009, March 21). The Story of Bill Gates - a Rich Man. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=GNdH6uV-UY4 [x]

Schiff, L. (n.d.). 3 Secrets to Bill Gates' Extraordinary Success. Inc. Retrieved August 26, 2015 from http://www.inc.com/lewis-schiff/bill-gates-extraordinary-success-secrets.html [y]

Top10. (2014, August 8). Top 10 Most Famous Entrepreneurs. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=6WWkzoESufQ [z]

Watch Mojo.com. (2015, January 22). Top 10 Celebrity Entrepreneurs. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=jRE-VwNNKiw [z(i)]

Malaysian Entrepreneurs

Assalamualaikum. We do not need to go anywhere else to look at examples of great entrepreneurs, because we have them here in Malaysia. There are many successful Malaysian entrepreneurs. But, I want to talk about 1 only. The rest of them will be shown in a form of video at the end of this post.

What crosses your mind, when I say Mokhtar al-Bukhary? Ding ding ding! That's right! He is one of the richest entrepreneurs in Malaysia and a very humble one. He has so many companies. The picture and video below describes his work and accomplishments.

Tan Sri Mohktar al-Bukhary



Have I told you that his net worth is $3.1 billion? Yes, that's a big number. I wish I had that much of number in my paycheck. LOL, that's impossible. You want to have a lot of money? Want to be rich. Be an entrepreneur! 

Another interesting fact of Syed Mokhtar is back in 2009, "Low-profile tycoon Tan Sri Syed Mokhtar Al-Bukhary and India-based Vavasi Group are buying a majority stake in Zain, Kuwait’s biggest telecommunication company,". [w] WOW! I know, right. Enough said, he is RICH.


Now, how inspired are you to venture yourself in the business world? I know. I'm inspired too. Well, let's find out the rest of Malaysian entrepreneurs through the video below, shall we?



References:

Dr K. (2009, September 21). Tan Sri Syed Mokhtar Al Bukhary A Tribute. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=Lw8elNZZpck [u]

Nhuan Nguyen. [Nhuan Nguyen]. (2014, December 17). [Official] Top 10 Richest People In Malaysia 2014 - Forbes List 10. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=1m8REHPyxuo [v]

Pooi Ling, Y. (2009, September 10). Syed Mokhtar in Kuwait Telco Foray. The Star.

Characteristics of Successful Entrepreneurs

Assalamualaikum. Hello people! Successful entrepreneurs do not just sit around and do nothing. They can't be successful if they do that. Well, if they do nothing, they will not reach the top. If you want to be a successful entrepreneur, you have to have these characteristics that are stated below.




1. Tenacity

Tenacity means persistent. In entrepreneurship, "Starting a business is an ultramarathon. You have to be able to live with uncertainty and push through a crucible of obstacles for years on end. Entrepreneurs who can avoid saying uncle have a better chance of finding their market and outlasting their inevitable mistakes. This trait is known by many names--perseverance, persistence, determination, commitment, resilience--but it's really just old-fashioned stick-to-it-iveness,". [t]

2. Passion

According to Robinson (2014), "It's commonly assumed that successful entrepreneurs are driven by money. But most will tell you they are fueled by a passion for their product or service, by the opportunity to solve a problem and make life easier, better, cheaper,". Basically, if you have passion in something, you would do anything to fulfill your satisfaction. Passion is love. Entrepreneurship is love!

3. Vision

Robinson (2014) claimed, "One of the defining traits of entrepreneurship is the ability to spot an opportunity and imagine something where others haven't. Entrepreneurs have a curiosity that identifies overlooked niches and puts them at the forefront of innovation and emerging fields. They imagine another world and have the ability to communicate that vision effectively to investors, customers and staff,". Well, you have to have visions in everything that you do to have a clear objective of why are doing that particular something.

4. Self-belief

Robinson (2014) stated, "Self-confidence is a key entrepreneurial trait. You have to be crazy-sure your product is something the world needs and that you can deliver it to overcome the naysayers, who will always deride what the majority has yet to validate,". Simply said, if you believe in yourself, you can do anything. Nothing is impossible. 




References:

Entrepreneur. (2014, July 24). 25 Common Characteristics of Successful Entrepreneurs. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=e5sbQpq1VGg [r]

Minute MBA by OnlineMBA.com. (2012, October 25). 5 Surprising Traits of Successful Entrepreneurs. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=CJAMUQFTXBg [s]

Robinson, J. (2014, January 11). The 7 Traits of Successful Entrepreneurs. Entrepreneur. Retrieved August 26, 2015 from http://www.entrepreneur.com/article/230350 [t]

Ways to Become an Entrepreneur



Assalamualaikum, people. Now, that you have some insights of Entrepreneurship, I'm positive that you are somewhat intrigued to know more about it, right? Some of you might already have intention to indulge yourself in Entrepreneurship, I supposed. Wink! This post is going to be all about the ways on how to become an entrepreneur. Future entrepreneurs, grab a piece of paper, grab a pen near you, you would want to write these down. On your mark, get set, go!

Think it is easy to become an entrepreneur? Think again! Fallon (2015) quoted, "Some people just seem to be "born entrepreneurs." From a young age, they've exhibited the traits necessary for business success — passion, creativity, leadership, perseverance, etc. — and when they announce their plans to launch a startup, their friends and family often say these ambitious individuals were destined for it,". [q]


1. Evaluate your skills to identify gaps 

Fallon (2015) said, "The best way to begin your journey as an entrepreneur is to take stock of what you already know. Wendy Torrance, director of entrepreneurship at the Kauffman Foundation, said startup founders should assess their skills, stage of life and whether there's a good opportunity in the market for their idea. Then, Torrance added, they need to figure out how to address any potential shortcomings of their business by building a team to fill in some of their own gaps,". Basically, you have to know yourself first, know your level, know your skills. Then, grab every opportunity there is. This is because, "Once you've combined your knowledge with that of your team, you can figure out which skills you'll need to improve," (Fallon, 2015).



2. Find a Mentor

You were not born as a skilled person. Everyone needs a mentor in particular areas. In this context, "Regardless of whether you're studying to become an entrepreneur, it's crucial to seek out the wisdom of those who have been there before. One way to do this is by turning to a professional mentor to guide you through the early stages of your startup and provide valuable feedback on your business strategies and issues," (Fallon, 2015).



3. Learn to Listen

According to Fallon (2015), "As an investor in entrepreneurship training, Frank Rimalovski, managing director of the New York University Innovation Venture Fund, has found that one of the most important lessons a business owner can learn is how to listen to customers. A lack of customers, rather than the failure of a product or technological development, is often the reason startups suffer, and knowing what your target market wants is key to avoiding this pitfall,". Actually, we have to be good listeners in every aspect. Try to understand people and people will try to understand you. Try to understand your customers, find out what they need. Create it! 


 

4. Find the right resources

Based on the claim made by Fallon (2105), "Not everyone will end up running a business, but there are many resources available for those who want to do so. These resources range from formal business courses and networking programs to seminars and websites offering guidance for business owners,". Easily said, when you want to start a business, find the right people to help you. Resources, I mean. Seek for the good ones, ones that will guide and help you to achieve your dreams in entrepreneurship.


References:

Epipheo. (2012, March 12). How to Be an Entrepreneur. Retrieved August 26, 2015 from https://www.youtube.com/watch?v=0JaPaeFYE5U [p]

Fallon, N. (2015, July 7). Learning to Be an Entrepreneur: 5 Steps to Success. Business News Daily. Retrieved August 26, 2015 from http://www.businessnewsdaily.com/4959-how-to-be-an-entrepreneur.html [q]