The word ‘Entrepreneur’ is taken from the French word ‘Entrepredre’ which means ‘to undertake’ or ‘to try’. Thus, a society that has entrepreneurs is considered as successful society because entrepreneurs are individuals which have been built up of several characteristics such as creative, dynamic and innovative. They will develop business and new markets to give more choices of products or service for the society and it can enhance our country’s economy development.
3.1 NETWORKED
One of characteristics to be a successful entrepreneur is have a good network. It is not only about having a good relationship with clients, but it is also have to take opportunity to meet others who share their passion, interest and desire and who can help them go even further in their business.
Tan Sri Mustapha Kamal Abu Bakar is one of entrepreneurs who are having this characteristic. He was graduated from University of Malaya majoring in historical studies. In 1970’s, after he graduated, he worked for governmental sector at Selangor at the District and Land Office as Assistant District Officers. Then, he was appointed to be a Deputy Commissioner of Lands & Mines Selangor. After a few years, he switches from governmental sector to private sector which then, he became Manager Director of Shah Alam Properties Sdn. Bhd.
Tan Sri Mustapha Kamal is a determined person since he begins to build his career. He is a hard-working, committed and tirelessly entrepreneur. This is all to ensure his work skill, knowledge, expertise and experience are complete enough for developing his own business. These sides of him lead to the establishment of MK Land Holdings Berhad, in 1978 which is a property development company and this company was listed on Bursa Saham Kuala Lumpur in 1992.
There are a lot of big projects that have been done successfully by this company. Under the leadership of Tan Sri Mustapha Kamal, housing project at Damansara Perdana and Damansara Damai was a profitably and prosperously project. In addition, he also successfully develop Cyberjaya as an elite area which is complete with information and communication technology infrastructure. Not only that, MK land also actively involved in hospitality and resort industry at Bukit Merah Laketown resort and Langkawi Lagoon.
Besides of all these successful, he had a good network with all his clients and subsidiary company. List of subsidiary company, BML Management Sdn. Bhd., Bukit Merah Resort Sdn. Bhd., Dominant Star Sdn. Bhd., Fairview Review Sdn. Bhd., Golden Precint Sdn. Bhd., MK Land Resources Sdn. Bhd., MK Land Ventures Sdn. Bhd. MK Development Sdn.Bhd., Prominent Valley Berhad, Pujaan Pastik Sdn. Bhd., Segi Objective (M) Sdn. Bhd., Sumbangan Berkat Sdn. Bhd., Tema Teladan Sdn. Bhd., Vibrant Leisure Sdn. Bhd., Zaman Teladan Sdn. Bhd., Markins International (HK) Ltd. dan Melur Unggul Sdn. Bhd. All of those subsidiaries have a very good relationship with MK Land. These shows MK Land have a good network not only with companies in field of property development but more than that.
Tan Sri had received a lot of awards such as, Outstanding Entrepreneur Award in 1995 by the Selangor Malay Chamber of Commerce Malaysia, FIABCI Property Man of The Year Award 1997, Industry Outstanding Personality Award 2001 Development of Construction Industry Development Board (CIDB) Malaysia and the list goes on.
These evidence make him become a successful entrepreneur with his wide networking area he do.
3.2 OPEN RISK TAKER
Open risk taker can be defined as an act of a particular person or business by carrying out something that imply uncertainty in order to accomplish target. Risking open also be prone to result in difficulty in terms of physical or financial loss but at the same time it could open up an opportunity as a consequence of the achievement. Dare to take risks as well as gain any chances to fall with tenacity and make it as a stepping stone to continue to form a bright future.
Open risk taker is one of the entrepreneurial traits that highly needed and applied to operate the business by the entrepreneurs. In this case, we found that this trait was indicated by one of the successful entrepreneur in Malaysia, Tan Sri Lim Goh Tong.
Generally, Tan Sri Lim Goh Tong was the third-richest entrepreneurs in Malaysia in 2007 with an estimated net worth of USD 4.2 billion. He is the founder of Genting Group who gave a lot of contribution to the country's economic development with the opening of entertainment centre in Genting Highlands, Pahang. In 2003, Tan Sri Lim Goh Tong has inherited the position as Chairman of Genting Group to his son that is Tan Sri Lim Kok Thay.
Tan Sri Lim Goh Tong was an open risk taker as we can identify from the Genting Highlands Resort project. The courage to take risks inherent in Tan Sri Lim Goh Tong made him brave to face any risk in the business. He was willing to accept the possibility that occur in the course of his business. The plan of Tan Sri Lim Goh Tong to open world-class tourism center in Malaysia especially the forested area cause him to be ridiculed by many people when he proclaimed his intention. The area is situated in Gunung Ulu Kali, namely in the middle of a dense tropical forest and only 58km from Kuala Lumpur. For ordinary people, the task of turning the mountain into a leading vacation is something that is unattainable. But not for Tan Sri Lim Goh Tong. Publics were deeply skeptical about his extraordinary idea even they said hat it was a crazy idea.
It is considered to be a project that will not be successfully implemented at the time first because people deduce the project is located in the hilltop and had to bear the risk that high risk either financially or safety. Nevertheless, Tan Sri Lim Goh Tong dare to take and appraise these risks. Financially, he has taken a risk by putting all financial resources available to ensure the success of the project which is considered insane and almost experiencing bankruptcy.
Tan Sri Lim Goh Tong has stepped up the challenge by working 2 shift during the week for cost saving. He was the first person to work according to shift 24 hours a day during the week to accomplish the goal. He will also be the first to get to work and those who on returning from work. Now, First World Hotel is one of the largest hotel in the world.
He endured a 7 years without income during the Genting Highlands Resort project undertaken. In terms of safety, Tan Sri Lim Goh Tong almost lost lives time and time again throughout this project is implemented. For example, the car lost braking function and cause his car almost veered into a gorges. He was also stricken by trees and causing his head to badly bleeding.
The risks faced by Tan Sri Lim Goh Tong ultimately allowed him to become a successful entrepreneur with a world-class tourism centre which Genting Highlands Resort that attracts foreign tourists, especially tourists from China, Thailand and Indonesia.
3.3 OBSERVANT
Observant is an entrepreneur trait which define as quick to noticed, showing quick and keen perception or paying close attention especially to details. The observant value can be shown within Jeff Bezos, a American entrepreneur that is famous for his creation of Amazon.Com and e-commerce pioneer. He was born on 12 January 1964 in Albuquerque, New Mexico. During his childhood day, Jeff Bezos was interest to create or change things effectively to see how things work like turning his parents garage into a laboratory and rigging electrical contraption around his house. He graduated Summa Cum Laude on 1986 with a degree in computer science and electrical engineering at Princeton University.
After graduation, he found work at several firms on Wall Street such as Fitel, Bankers Trust and the investment firm D.E.Shaw. Finally, he became the company’s youngest vice president in 1990. Bezos had change his mind to involve into nascent world of e-commerce, so he quit his job in 1994. Then moved to Seattle and targeted the untapped potential of the internet market by opening an online bookstore. This is where his observant trait is seen.
In addition, the observant trait from Jeff Bezos also can been seen through the developing of software. He expanded operations into two-bedroom house, equipped with three Sun Microstations and eventually developed a test site. Bezos opened Amazon.com on 16 July 1995 after inviting 300 friends to beta test the site. After two months, Amazon.com had sold out the books across the United States and 45 foreign countries within 30 days and sales reached about $20,000 a week. In May 1997, Amazon went public with $500 million valuation. He continue developing Amazon offerings with the sale of CDs and videos in 1998 and manufacture other products such as clothes, electronics, toys and more through major retail partnership. It also show the observant trait from Jeff Bezos.
Last but not least, the observant value also can been seen through the experimental initiative by Amazon in early of December 2013 and it’s known as “ Amazon Prime Air”. It can used by drones like remote control machines that can perform an array of human tasks and provide delivery service to customers. These drones could carry heavy items up to five pounds and able to travel within a mile distance of the company distribution center.
In conclusion, an entrepreneur like Jeff Bezos alert about business opportunities that have not been explore by others. They will take proper action such as imaginations, creative and innovative to satisfied the customer needs or want and develop a successful business.
3.4 VISIONARY
Visionary is a must have for an entrepreneur to start their business. As we know, an entrepreneur must establish a specific direction in the future. Vision has to be formed for both periods, which is short and long period. Vision could also avoid detour with the existence of a clear vision. All the effort that has been taken is aimed for the achievement of the given vision. Vision is the ability to see something will grow in the future and hope that the vision will achieve later. Futhermore, a visionary of the entrepreneur can also make the person more clearly to achieve their goals for the business. In other words, visionary means someone can see something in the future that will happened.
An entrepreneur that have vision in his business is Datuk Wan Mohammad Sani Salleh. He is the director of the company which is Sani United Sdn Bhd (Sani Express Sdn Bhd, Sani Properties Sdn Bhd dan Sani Hotel Sdn Bhd). He is well-known for the bus express which is Sani Express Sdn Bhd that are etched his own name by using the red buses. At his young age, he had his building itself as a centre of business operations. Other than that, when he started his transportation business there are so many challenges that have to be face and he needs to work hard until he had to sleep in the office. Furthermore, he began to open repairs workshop in Kuala Lumpur and Terengganu in the field of transportation. His interest of the transportation make him to open a business which is relate with a bus.
As we know, Datuk Sani is actually a local artist a long time ago. However, for several years in the entertainment Datuk Sani did not see the future when he involved in this industry. So, this shows that Datuk Sani have a visionary and he further looked forward for his career. If he went to business it might be success in the future. He puts his determination to change his life and become better by doing his own business. In 2003, Datuk Sani establish a SUSB especially for transportation business. Datuk Sani was with his another two partners. When his partners out of the business it was really hard for him because he had to do everything alone. Apart from that, he was only an employee and have to plan to start operating express buses by himself only show the result after three years and capital from financial institution.
In 2006, Sani Express have been seen on the road. This business has been well received. No Sani Express have 150 workers. According to Datuk Sani, other than interest, the success factor is the attitude is not ashamed to ask when he did not know about something. Datuk Sani is not a very high school people. He learned from a person who have experienced even with everyone. Failure will make Datuk Sani a lesson. Datuk Sani said he might not succeed without prayers and blessings as well. “Whatever we do, we have to stick with the religion. Just do whatever we have to do and leave the things that is forbidden” said Datuk Sani.
Lastly, this is show the characteristic that Datuk Sani is a visionary person. His attitude we can take as an example for us to have a vision. So with this vision we can achieve our goal that we have set for the future. In business, there are so many challenges that we have to face. Apart from that, that challenges teach us to be better and it produce a good result of the business. There are no reason for us not to be success because there are so many ways for us to success. It is either we want to take the risk or just give up with the business.
3.5 FAILURE IS AN OPTION
Failures in managing a business is a factor that plays a very important role in the learning process for an entrepreneur. Most successful entrepreneurs nowadays certainly has a history of failures that have been faced by them. The failure is a spirit and as a learning process to enable them to achieve the desired success. An entrepreneur should have a positive attitude and take heed of past mistakes in order to be more advanced in the future. This clearly shows that the entrepreneurs should be smart and not easily give up when faced the failure in the past to develop their businesses more.
The entrepreneurs who have the characteristics of failure is an option is Kolonel Harland
Sanders who is founder of Kentucky Fried Chicken (KFC). Harland Sanders is an
entrepreneur who has faced failure many times, but still did not give up. He was born on 9
September 1890. His father had died when he was six years old. His mother had to shoulder
a heavy responsibility to take care of the children. Harland Sanders, a child who has learned
cook when he was young. At the age of 10, he began working in the fields with a low pay,
namely 2 dollars every month. He worked hard to ease the burden of his mother. Then,
Sanders continued his studies until obtaining a degree in law and he had studied at Little
Arkansas.
In 1929, he opened a shop for a car service in Corbin. One day, a dealer said that the
food in the city was not good and caused many people to eat at home. As a result, Sanders
wanted to open a restaurant with a fastest menu. He starts from a small space so that it
becomes a small restaurant called "Cafe Sanders". His business began to grow with sales
of the fried chicken and fresh vegetables. He was very interested to the fried chicken until try
to find the different ways to make the tastier fried chicken. He discovered his special recipe
and promote the secret ingredient to the various restaurants but rejected. He never give up
until received 1009 time rejection and finally his special recipe was accepted by a restaurant.
KFC began to grow up until now. KFC is not only in America but there are 18,000 outlets in
120 countries around the world. He never afraid to faced up the failure until becoming a
In conclusion, an entrepreneur like Kolonel Harland Sanders should not easily
give up when faced failure and trying something new to develop a successful business.
3.6 OPEN CULTURE
Open culture through the perspective of entrepreneurship can be defined as a nature where the products produces by a business is universal. The products produced by a business should be able to be accepted by all level of society regardless of religion, race or culture. Reproduction of a product should be characterized by universal and not focused on only one criteria to ensure that the output would be accepted by society especially communities of Malaysia, which consists of various races and religions. Therefore, entrepreneurs should consider the characteristics of the product that can be generally accepted.
Entrepreneurs need to be sensitive and open-minded towards external cultures to make renovation in organization and operation so that entrepreneurs can make a difference and make a profit. Entrepreneurs need to keep an open mind and accept new culture in doing business.
For example, Thomas Alva Edison or as known as Thomas Edison was an American inventor and businessman who was developed many devices that greatly influenced life around the world, including the phonograph, the motion picture camera, and the long-lasting, practical electric light bulb. With his skills, his inventions have contributed to mass communication and, in particular, telecommunications. His advanced work in these fields was an outgrowth of his early career as a telegraph operator.
Thomas Edison was born in Milan, Ohio, and grew up in Port Huron, Michigan. He was the seventh and last child of Samuel Ogden Edison, Jr. and Nancy Matthews Elliott. His mother taught him at home. Much of his education came from reading R.G. Parker's School of Natural Philosophy and The Cooper Union for the Advancement of Science and Art.
Thomas Edison often do research since childhood. In 1877–78, Edison invented and developed the carbon microphone used in all telephones along with the Bell receiver until the 1980s. After protracted patent litigation, in 1892 a federal court ruled that Edison was the inventor of the carbon microphone, not Emile Berliner. The carbon microphone was also used in radio broadcasting and public address work through the 1920s.
In 1877, he realized the importance of light in life. In 1878, Thomas made an inquiry and in 1879 he successfully invented the light bulb that lasts longer and is capable of burning up to several hours. According to the story of Robert Kiyosaki, Thomas Edison was not the first person who invented the light bulb. there are many people who have created the light bulb before Thomas Edison. But the problem is, they are not practical light bulb. Some are dying too early and many others. The creators also can not be explained to the public, "the" light their bulbs.
In short, they have great ideas, but they have no business. Thomas Edison also invented the light bulb is not only better, but also build a business with a light bulb. He invented the first light bulb that is useful and he also knows how to present the "value" his invention to the public. Everyone is able to provide a great idea, but only entrepreneurs who can generate money from these ideas. His story becomes a long string of entrepreneurial ventures in which she saw the need and opportunity to market a universal product, proving that he is open culture.
3.7 OUTCOME ORIENTED
Outcome oriented is one of the most important favourable traits that an entrepreneur must have. First and foremost, what is mean by outcome oriented? Outcome oriented is actually a positive characteristic that an entrepreneur has set its own clear goals and what they wanted to achieve in a period of time. Outcome oriented also can be called as result oriented. Generally, outcome oriented is a term used to describe knowing what outcomes are important, and focusing resources to achieve them. It is the opposite of process oriented, which focus more on process. It is an essential entrepreneurial trait because outcomes in the form of profits or customer’s satisfaction are the most vital thing that an entrepreneur must achieves in their business. “If you think result oriented, you tend to see the end in your mind and you are looking for the fastest way to go there. You want to have the result. This means that you become much more focused on action “flowing” towards the result (Myrko Thum, 2008)”.
An entrepreneur that can be closely related to this outcome oriented traits is Datuk Jimmy Choo. Datuk Jimmy Choo, a well-known fashion designer all around the world. He is actually a Malaysian born entrepreneur in shoes design business. Datuk Jimmy Choo is a very famous figure in the production of handmade shoes and handbags design. Born into a family of shoemakers, made him has a clear vision to burn his desire to expand widely his family business. It is undeniable that Datuk Jimmy Choo is a very hardworking person and committed to achieve a successful outcome from everything that he is doing. Datuk Jimmy Choo has its clear vision and target goals that one fine day he would be a worldwide favorable shoes designer.
Shortly after his graduation from a London technical college he was designing, hand crafting and selling his own shoes and gaining international attention with his unique and detailed work. He tried very hard to design shoes perfectly in order to get his customer’s satisfaction. Customer’s satisfaction will lead to gain a high profit. This portrayed that Datuk Jimmy Choo has implemented the outcome oriented entrepreneurial trait.
Jimmy choo takes outcome oriented as a crucial trait in his business. Customer satisfaction is one of his clear goal to build a successful company as well. Datuk Jimmy Choo will meet every requirement of his customers. Despite the vagaries and whims of his customers to get beautiful shoes and in many ways, Datuk Jimmy Choo still treat them with the utmost prudence and professional. For instance, some of his customers wanted a very sophisticated design and pattern of their shoes which is complicated for him to make it. However, he never stops trying and do his best to fulfilled all his customers desire. Sometimes, there some of his customers does not meet their satisfaction about Jimmy Choo’s product, they complained and asked him to do it again according to what they wanted. Datuk Jimmy Choo never get angry or despair, he just being a professional businessman and followed what his customers desired. That is why Datuk Jimmy Choo has a lot of permanent customer. Eventually, hard works of Datuk Jimmy Choo paid off. Many celebrity customers in his early career, including the glamorous Princess Diana of Wales, helped transform his growing popularity into worldwide notoriety. After the success of his handmade shoes made him a household name in the fashion industry, he worked together with an editor of British 'Vogue' magazine to cofound his own company, ‘Jimmy Choo Ltd’, which became a major worldwide fashion label, within a few short years.
In 2000, he received a state award from the Sultan of his native state in Malaysia. This award commits him with a Datuk title. He also was honored with an ‘Order of British Empire’ in 2002, to recognize his services to the fashion industry in the UK. Years by years, Datuk Jimmy Choo become a very successful entrepreneur and was honored with many titles and achievements. Choo was the co-founder of ‘Jimmy Choo Ltd’, which continues to produce both couture and ready to wear fashion today. His net worth is estimated at about $50 million.
In conclusion, from his outcome oriented entrepreneurial trait and many others positive things in him, made all the goals that he wanted being successfully achieved.
3.8 TEAM ORIENTED
Businesses need a spirit of teamwork focused on the individual strengths and the employees. When effective teams are in place, the resulting product is greater than the sum of the individual effort. There are a lot of tactics that can build a team orientation, from team building, diversity talk and workshop, merit systems that can recognize and identify team-oriented behavior and processes that facilitate project teams and much more.
One of the Malaysian entrepreneurs that implies this team-oriented environment in the company is Tan Sri Tony Fernandes – founder of Tune Air Sdn Bhd. Tan Sri Anthony Francis "Tony Fernandes was born on 30 April 1964 in Kuala Lumpur. His father is an Indian and mother is mixed Indian living in Malacca. At a young age, he would follow his mother who sold Tupperware at Tupperware parties around the city. His former school is the Alice Smith School until 1976 in Kuala Lumpur, next he studied in an England boarding school – Epsom College from 1977 until 1983 before he furthered his study and graduated with a degree in accounting from the London School of Economics. Tan Sri Tony Fernandes was admitted as Associate Member of the Association of Chartered Certified Accountants (ACCA) in 1991 and became a Fellow Member in 1996. He is currently a member of the Institute of Chartered Accountants in England and Wales (ICAEW).
He is the one who responsible for introducing the very first budget no-frills airline, AirAsia, to Malaysians citizen with the very catchy tagline "Now everyone can fly". Tan Sri Tony Fernandes managed to turn AirAsia, a failing government-linked commercial airline (DRB-Hicom) with debt over RM 40 million, into a highly successful budget airline public-listed company. In 2001, he takes over control Air Asia. In less than 3 years, he was able to expand the operations for more than 100 domestic and international flights a day. Tan Sri Tony Fernandes has since founded the Tune Group of companies.
He believes that teamwork and team-oriented is, more than anything. From highly qualified management, employees discipline and attitude, the cooperation between them will be a blast to the company in upgrading the brand-Air Asia Airlines, to the global ranking among airlines. Employees are the main assets of the company. He also said that his main success factor is the role and contribution of its employees to the company – “without the employees, it is meaningless even if you have a great system and technology with you”. It is clearly stated in the Air Asia official website:
“Our people are our GREATEST ASSET. They MAKE all the DIFFERENCES in the world. Our DRIVING FORCE has always been our people. From our humble beginnings to the present family size of 8,000 people, we stand UNITED and SHARE one common culture.”
3.9 PROACTIVE
Proactive is among the vital characteristic that should have in an entrepreneur to achieve success in their carrier. Without proactive, the company or business that an entrepreneur do will become wasteful in the uses of resource. So, what is the meaning of proactive? Proactive is an adjective word that describe person who get things done instead of waiting to be happen. This characteristic shown by an entrepreneur that are really successful in Samsung, his name was Lee Byung Chul.
He started his idea in Samsung by producing telephone, fax machines, and switchboards. Within year to year, the production become more successful when he got many customer on his invention of the three product. As an impact, he invested millions of dollars to do research and development for better technology in electronic products. He and his production team started building manufacturing plants in places like New York, Texas, London, Portugal, etc.
Samsung also focused on its construction company. They collaborate with other company in the construction for Burj Khalifa, the world’s tallest building and also the Petronas Towers in Malaysia. In the 1990’s, they tend to be focused only in electronics, constructions, and chemicals to be priorities.
Samsung won’t stay in the same cloud. They try to invent something new. As a result, Samsung Techwin became a supplier for specific engine part for Boeing 787 Dreamliner and Airbus A380 in year 2010 while in the beginning of 2012 they overtook Nokia as their mobile phone maker that earned the highest production in the World.
Samsung became the largest conglomerate in South Korea with 15% South Korea GDP in year 2012. This is because their passion, dedication, proactive and other positive value that they have. During that year, Samsung also managed to generate $265 billion for total revenue and $26 billion as a profit. They also got more than 425,000 employees and they planned to build the largest mobile phone factory in Vietnam Nguyen Province starting in 2013.
In conclusion, we really agree that Lee Byung Chul is among the great entrepreneur that really proactive to be success in their production of electronic products called Samsung. Today, Samsung are really well-known with their technology and innovation.
