The 7 attributes an entrepreneur should have
Just got back to Malaysia today. Very tiring flight because of my neighbor who is a small girl…kept bashing me without knowing it. =_= Then there was this baby boy who kept walking to me and asked me to carry him =_=
Now I’m back in my condo….but nobody is free. Parents not in, my sister busy, my sister’s bf busy……. and I have no car to go around. Sad. And it’s so freaking hot in Malaysia !! I’m swallowing ice creams to keep myself cool.
Anyway, i’m too tired to draw a comic. Will repost 1 of my previous postings.
I came across a local magazine on Entrepreneurship last Saturday. One of the articles which caught my attention was on the habits an entrepreneur should have. To be honest, I could not remember everything there…….so…… i’ll just merge what I am able to remember, with my own personal opinion on the habits an entrepreneur should have.
Creative - An entrepreneur needs to be creative and innovative. His/her ability to create something new, or to modify something old into something useful will be very crucial in the world of entrepreneurship. The main point here is, be creative to provide value to the customer.
Good leader - A successful entrepreneur needs to be a good leader. He/she needs to know how to handle the staff as well as the business/products. A good employment policy to retain the company’s best people might be the entrepreneur’s only advantage over his/her competitors.
Good communicator – The ability to deliver the right idea across in a right way is always an important skill to have, not only to an entrepreneur but to other people as well. Being a good communicator will help the entrepreneur in sales/marketing, promoting teamwork, effective discussion with the staff, etc.
Balanced life – Being an entrepreneur means leading a very busy life. You will most probably be very occupied with your business, your employees, your customers, etc….but you should never ever abandon your personal life – your family and friends. Your family and friends will always be there to support you when your business is not in a good condition. Therefore, don’t turn away from them….neither should you turn away from your business. Strike a balance.
Hardworking - Hardworking is the next attribute an entrepreneur should have. An entrepreneur needs to work hard to improve himself/herself constantly, to come out with new ideas, to try many different things, etc.
Persistent - Persistent is the next nature of a successful entrepreneur. An entrepreneur should always have the “never-say-die” attitude. Failing once or twice, or even 99 times (like what Thomas Alva Edison did) is no big deal. The main thing is to keep carry on until you’ve succeeded.
Being an entrepreneur is nevery easy. Being a successful entrepreneur is perhaps 10x more difficult than being a normal entrepreneur. It might take a lot more than having the 7 attributes above, in order to be successful in the world of entrepreneurship.
Again, I might’ve missed out some essential attributes an entrepreneur should have. Do feel free to give me feedbacks and post up your comments if you have anything to add. 
Thanks.
An entrepreneur doesn’t go around telling people he’s one. He talks less, do more and doesn’t like telling people he’s an E.
In fact, there’re many successful businessmen who are entrepreneurs who don’t label themselves as such. Those who do are normally those full of hot air who achieved nothing or their business isn’t profitable, they had to resort to whoring themselves in the media/public to get noticed.
Being an E is not something to be proud of. You basically stake everything you have, your future, career, reputation, savings/money on what you believe in and you will fall down very hard if it doesn’t work out.
All those kids who proclaim themselves to be an E haven’t tasted hardship before because they got their rich daddies to fund them.
Many real E can never get funding, esp if you’re not willing to do immoral things to get your funds.
It’s better to spend time and money to read useful materials than reading so called local magazines that is probably not as credible as the numerous articles/examples we can read from elsewhere online.
Oh, it’s better to underpromise and overdeliver.
Most so called E we encounter tend to be full of BS promises.
ShadowFox
2 Feb 08 at 12:08 am
Hmm, I was thinking about the same thing the last few days and came to a different conclusion. If money is the sole yardstick of entreprenuerial success, I concluded 1 quality is all u need – be a ruthless opportunist with a good instinct for timing.
That’s not a sellable message I know. Its just that the rich businessmen I’m close with just don’t have any of the qualities that these magazines say they must have. I only observe 1 quality – the one I mentioned.
They don’t even work hard. They work smart. They spend much of their time overseas and pay ppl to do the donkey work.
Welcome back by the way.
Brendan
2 Feb 08 at 1:44 am
everything have it’s price. you want it, you take the risk. nothing comes easy
cibol
2 Feb 08 at 8:29 am
@ ShadowFox
you sound very frustrated. are you experiencing something like what you’ve described?
believe it or not, those truly successful people will never claim themselves as being “successful” because they feel they still have a lot more to achieve. they will never tell others about their sufferings bla bla bla. because they are working on someting they are passionate about, and something that they believe in.
at least, that’s what i believe.
for those ppl who spend their money away on luxury stuff, start a biz in order to earn money (and money only) and claiming themselves as entrepreneurs….those people are not the real entrepreneurs we need.
but i believe tat u don need to do immoral things in order to get ur funds.
u can have ur own funds, or u can try ur best using proper ways in getting a funding. if u don, then that shouldnt put you out. it’s just another obstacle/challenge that u need to overcome……albeit a big one.
the local magazine? for me, all reading materials be it local magazines, or online sources….all of them are useful to me. wat we need to do is to filter out those which may not seem applicable.
don stereotype things because if u wanna do tat, then u shouldnt be reading stuff like THE STAR paper, CNN, BBC, etc etc. 
u can only believe in urself…and live in ur own world 
@ Brendan
a truly successful businessman, be it entrepreneur or someone who inherits the family biz, bla bla bla… need to be an opportunist with good instinct for timing (minus the ruthless thingy…but well, most business people are ruthless in a sense la).
working smart is important. working hard is also important. missing either 1, and u will never get what u want. but by paying people to do donkey job can be quite subjective. u should delegate, and not pushing the responsibilities 100% because in the end, if they screw up, ur biz will b a goner too. so paying ppl to do donkey job is part of handling ur business
jst make sure you take care of their welfare also.
not those who started biz to pursue their life’s goals and to pursue whatever they believe in.
again, at least, that’s what the innocent and perhaps naive Alvin Lim always believe in.
@ cibol
no pain no gain
Alvin Lim
2 Feb 08 at 1:23 pm
Good one. Stumbled !
jamy
2 Feb 08 at 8:34 pm
Wah!!! Eating ice-cream to cool down?? Hahhaah!! But it’s been raining quite frequently lately. Weird weather. So unlike the previous CNY weather that I’ve known. It’s usually windy and sunny but now it’s the other way round. Hmmph…
I like the criteria of balance life for an entrepreneur. I believe it’s not only for businessmen but for everyone, especially working adults, kids, etc. Don’t you think so??
seaqueen00
2 Feb 08 at 10:07 pm
@ jamy
u r the only person who is so nice to help me with SU. 
thanks jamy.
@ seaqueen00
raining but still quite hot lo for me. hahaa. never mind la, will get used to it. mst get more sun here since UK no sun =_=
yea, everybody needs a balance life.
i blif it is 1 of the few ways that people can do to remain human, and not becoming a robot 
Alvin Lim
2 Feb 08 at 11:32 pm
I cannot stand but need to write my 2cents in this discussion.
I totally have to strongly disagree with this : “That’s not a sellable message I know. Its just that the rich businessmen I’m close with just don’t have any of the qualities that these magazines say they must have. I only observe 1 quality – the one I mentioned.”
This might apply very much to many corrupted Asian corporate companies in Asia but not so in the US.
The NO.1 element of being enterprise is passionate about your belief ! Put that to work with resources available to your.
These are needed qualities in Entrepreneurs : Foresight, visionary, honest, integrity, hard working , persistence and perseverance.
Being dishonest , cunning , ruthless are not qualities of successful entrepreneurs, might be so in Malaysia because corruption start from your Prime minster way down to office’s cleaners.
NOP, it is not so here.
We have many friends who are entrepreneurs, they work very hard.
One of our friends started his own business 2 years ago. He was very frustrated with the public school. He has a lot of conflicts with evolution and creation and he decided enough is enough (he is a Christian and he believes in creation but the school insist that he need to put away his belief and teach about evolution). He decided to do mowing of lawns for people. It was not easy in the beginning. They have 5 children then and one was on the way but they believe that God will provide them all they need. I remembered one winter morning when I looked out of my car in the church parking lots, I felt so bad for the family cos I saw they did not even have money to buy new window glass for their old cars. Instead they use the black rubbish plastic bag to tap their windows.
He worked hard and his wife was very supportive. His business grew, from mowing a few lawns on his neighborhood, he started getting contracts from apartment, shopping centers and now his business even involved installing sprinkle systems for apartment and condominium complexes.
His older 2 boys help him out in the afternoon after they finish their home schooling. They home school their children. And over a span of 3 years, they have 2 more babies
:).
NOP, he is not cunning neither he work smarts, he works very hard. Now he has more than 50 business complexes signing contracts with him.
If you read my blog/s entries under enterprising category : http://www.seaykopitiam.com/category/blogging/enterpreneurs/
You notice all these entrepreneurs do not cheat, one them start from their basement and another started in parking lot of shopping complex.
But, a lot of times we are too comfortable in our environment (like me
:).
Business is coming up with a product/service which you see can fill the void or need around you; and of course resources such as pro-business government policies, pro-business capital facilities and efficient marketing tools are all essential elements to have in a successful business.
Jamy
Founder of eCafers Network.
jamy
3 Feb 08 at 12:03 am
@ Jamy
i also believe in the things you said. that’s always what i want to believe in. greatness and satisfaction come when one work hard + smart + persistent + pursue his own beliefs. it might take a short while (if you are lucky) / a long while / never come at all……but it is wat u believe in.
it might be very hard to do that in malaysia….but no harm trying
i hate those cheapskate chinaman bosses in malaysia who don care about ppl and are dishonest, bla bla bla……… that’s why i will never become like tat
that’s a promise to myself 
Alvin Lim
3 Feb 08 at 2:37 am
Alvin,
Yes, it might takes longer than if you were in the US but it does not mean you cannot : “it might be very hard to do that in malaysia….but no harm trying”.
I wrote in Bee Ean’s blog’s comment about how in the US we have much more resources than other countries to be successful, it only take us 1/2 effort than if you would have to do it in socialist countries such as France. But, it does not mean impossible.
I was talking to a friend whose child was diagnosed Autism recently. She and her husband have been going to Autism conference and also partake in a research study in University of Florida. A mother will not give up on her child if he is diagnosed as having Autism because we have professor who was diagnosed as having Autism. They are functioning human being but they might have some forms of abnormalities. She might have a lot of challenges on her journey to raise this buy but she is hopeful that when there is a will , there is a way !
So, you go, Alvin and I will support you in your belief and endeavor !
Jamy
jamy
3 Feb 08 at 3:39 am
@ jamy
Anything is possible and can be done…it’s just a matter of the amount of efforts n time required. The important thing here is that, why follow what they are doing when we know that’s not a good thing to do? Some might argue “that’s how they survived”. I think there are many ways to survive
ah well, i think my brain is not working today. haha
Alvin Lim
3 Feb 08 at 1:44 pm
This thread is getting interesting. The dictionary definition for E is “One who assumes the financial risk of starting and operating a business venture.” I wonder how many “Asian corporate companies in Asia” can qualify for an entreprenuerial loan, given that a) businesses usually have to be large and publicly owned to be called a corporation, b) in a corporation, financial risk is collectively borne by the directors via board resolutions as opposed to a single person.
So are we talking about entreprenuers or corporate companies here.
Anyway, that aside Jamy is right with her points. There are honest and dishonest entrepreneurs and I can assure you, success and failure is not monopolized by any one side. I’ve seen enough honest people go bankrupt and enough greedy conmen laugh all the way to the bank. I wouldn’t go so far as to say that you cannot be successful if you’re honest as there’s too many living examples of that happening, as is the reverse.
My point is the world is not so clear-cut or predictable. What works in USA will not work in China. What works in China may not work in Australia. I fully agree that effort is required to succeed, although I know many will disagree with me. Just go to the bookstore and I’m sure you’ll see plenty books like “Make millions while you sleep” or “Be a millionaire and never work a day in your life.”
So my acquaintances may cheat and lie to their riches but I prefer to do it the old fasioned way. I work like a dog
Brendan
3 Feb 08 at 5:59 pm
@ Brendan
smart people will know how to earn $$. that’s what i believe. not-so-smart people, will also be able to earn…though might need more efforts. but for both of them, efforts are still needed if one wants to succeed.
those books that promise instant success…..those are used to ‘cheat’ desperate people who only believe in easy money. true, you can make millions while you sleep….but what about the process before that? tat’s something to ponder
Alvin Lim
3 Feb 08 at 7:41 pm
Great post! I think the only thing i’m missing is “balanced life!” After i started my own company…i’m busier than ever. Whoever thinks that starting your own business allows you to work less than forty hours a week…think again!
Erica DeWolf
12 Feb 08 at 5:11 pm
@ Erica
thanks for visiting and the comment. I think in the end, balanced life is very very important. u need time for urself, ur family, frens and of course your business. otherwise, everything might start to fall apart sooner or later.
starting your own business definitely does not mean u will have more time. unless of coz, u are those kind of boss who likes to delegate and take people for granted. that way, people under you will either “grill your $$” or will leave.
Alvin Lim
12 Feb 08 at 5:28 pm
being the entrepreneur can be the first choice for me if cant find work in public sector or private sector. There is the best choice for graduate student to get profit with they best quality and knowledge.
Ajibah binti Alipah
12 Mar 09 at 11:29 am
@ Ajibah binti Alipah
Many people who thought it’s easy, have failed, including some of the people who used to be at the top of the corporate ladder. It’s important to do a soul searching whether you are indeed suitable to be an entrepreneur. Your ‘want to be an entrepreneur’ and your ‘suitability to be an entrepreneur’ are 2 different things. Access yourself first before jumping into it.
Being an entrepreneur is not an easy task.
Alvin Lim
13 Mar 09 at 9:19 am