Friday, 3 April 2015
10 Important Personal Characteristics of Entrepreneurs
09:53
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Learn the attributes that successful entrepreneurs tend to
possess.
Being an entrepreneur requires much more than just big ideas.
A true entrepreneur is a rare breed; it’s someone who possesses a unique
cocktail of traits, skills and characteristics that enable them to beat the
odds and go after their dreams full throttle. But what are those attributes?
What does an entrepreneur need to succeed?
While we’d all love an entrepreneur’s handbook that tells us
whether we have the ‘E Factor’ or not, the truth is that there is no right or
wrong answer—there is no discernable formula. But that doesn’t mean to say
there aren’t a handful of traits we can pinpoint that are specific to
entrepreneurs. Here are some of the attributes that, in our experience,
successful entrepreneurs tend to possess in abundance.
They’re goal-orientated
Entrepreneurs are all about setting goals and putting their
all into achieving them; they’re determined to make their business succeed and
will remove any encumbrances that may stand in their way. They also tend to be
strategic in their game plans and always have a clear idea in mind of exactly
what they want to achieve and how they plan to achieve it.
The 7 Traits of Successful Entrepreneurs
09:45
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Enter "entrepreneurial traits" into Google, and
the menu of frequent searches will complete the query with "... of Steve
Jobs" and "... of Bill Gates," among others. These are the
forces of nature that spring to mind for most of us when we think of entrepreneurs--iconic
figures who seemed to burst from the womb with enterprise in their DNA.
They inspire, but they also intimidate. What if you weren't
born with Jobs' creative genius or Gates' iron will? There's good news for the
rest of us: Entrepreneurs can be guided to success by harnessing crucial
attributes. Scholars, business experts and venture capitalists say
entrepreneurs can emerge at any stage of life and from any realm, and they come
in all personality types and with any grade point average.
Contrary to conventional wisdom, you don't have to be Type
A--that is, an overachieving, hyperorganized workaholic--or an extrovert to
launch a successful business. "Type A's don't take the risks to be
entrepreneurs," says Elana Fine, managing director of the University of
Maryland's Dingman Center for Entrepreneurship, adding that the same goes for
straight-A students. "Very often it's C students who become
entrepreneurs."
However, the best entrepreneurs do share a collection of
characteristics, from tenacity to the ability to tolerate risk, that are
crucial to a successful venture. An analysis of 23 research studies published
under the title "The Big Five Personality Dimensions and Entrepreneurial
Status" found that entrepreneurs have different personality traits than
corporate managers, scoring far higher on traits such as openness to experience
(curiosity, innovation) and conscientiousness (self-discipline, motivation) and
considerably lower on neuroticism, which allows them to better tolerate stress.
Tenacity
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.
"Tenacity is No. 1," says Mike Colwell, who runs
Plains Angels, an Iowa angel investor forum, and the accelerator Business
Innovation Zone for the Greater Des Moines Partnership. "So much of
entrepreneurship is dealing with repeated failure. It happens many times each
week."
When failure happens, you have to start all over again. Jett
McCandless was a partner in a fast-growing freight logistics operation. But the
rapid expansion triggered mistakes, including an invoicing glitch that left the
company without enough cash reserves. The business had to be sold for a
fraction of its value. McCandless didn't agree to the terms and was fired. He
lost the company house and car and wound up moving into his girlfriend's
apartment. "It was a very tough time," he recalls. "I came very
close to going bankrupt."
He went on 25 job interviews and got offers for logistics
positions paying $200,000 and up. But McCandless, who grew up in Section 8
public housing, wondered, Should I take a comfortable, secure job, or could I build
something better? "I was afraid that failure could define the rest of my
life, and I wasn't going to let that happen," he says.
So rather than accept one of those big offers, he started
over, founding a new company, CarrierDirect, in Chicago. Hamstrung by the
noncompete contract with his previous firm, he created a wholly new space in
the logistics field. Instead of matching shippers with truckers, he switched to
consulting, providing marketing and sales for logistics companies. In two years
CarrierDirect grew to $35 million in revenue. "I'm glad I didn't take one
of those corporate jobs," he says now.
5 Key Characteristics Every Entrepreneur Should Have
09:29
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As an entrepreneur who's attending college, I am often approached by classmates who are seeking to start their own business. Some have great concepts, yet when I ask them what they’ve done to advance their ideas, the answer is usually nothing.
Anyone can start a business, regardless of his or her age. After growing my own companies and mingling with successful entrepreneurs, I’ve come to realize that most entrepreneurs share these are five commoncharacteristics:
1. Passion. A startup founder is often driven by the quest for deeper purpose beyond the sheer mechanics of operating a business. My mission for my startup, Yes Man Watches, is to empower people to consider the most valuable asset in their lives: time. I rise early every morning because I don’t want to waste my day. If you have passion for your startup, this will drive you to turn your idea into a reality. Without that missing spark, you'll lack the necessary motivation to put in all the early mornings and late nights to get your business off the ground.
09:20
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Tan Sri Tony Fernandez, the name that really familiar with us, especially to Malaysian people. One of the entrepreneurs who bring change to the way of life of Malaysians people in the field of aviation. He had Make many low-income earners get the experience to fly in the blue sky. Starting a career in the music industry and now he was leading the airline industry. His story seemed like Britain entrepreneurs; Sir Richard Branson.
Starting with two aircraft in 2002, but now has a total of 75 large-size aircraft with over one hundred destinations worldwide and the total number of destinations will grow again next month after month. Can his success be calculated as a fate ???, or expect cronies in the administration of the country ??? Here is the information / important notes taken from newspaper Sinar, Thursday, January 29, 2009 page 16, the results of Sinar Chief Editor group interview with Tony Fernandes. His experience and philosophy of this valuable work can serve as a guide to how he could scent the Air Asia brand to an international level.
- Does not have a special room, the same as other employees, people no one AirAsia has only an open working space and very small.
- Has approximately 400 employees in offices AirAsia LCCT (Low Cost Carrier Terminal), and Tony recognize almost all the staff there to remember their names.
- Always remind the staff that he not only drives the company, even all the employees that drive the company.
- Considers workers are friends and respect of friends, the same as Tony respects its employees.
- Do not assume everything said by the media as a satire, do not be discouraged by the negative words rather take it as a CHALLENGE.
- It is the intention to enable all Malaysians can fly and aircraft no longer transport for the rich.
- Successfully employs approximately 6000 staff at various levels of skill and profession in the country and abroad.
Maybe many of us do not realize that a musician who once headed the record company Warner Music (M) Sdn. Bhd., Tony Fernandes is now a prominent figure in the country, respected for his success in sparking a revolution in the airline industry, the Asian region.
However, the success of which he builds the past six years, is not come easy, because Fernandes, who is adept at playing the keyboard, forced through the twists and thorns', before successfully built a firm budget carrier AirAsia Bhd. so known internationally at this time.
The CEO of Air Asia told me that when he ventured into the beginning of the aviation industry, said: "I have long dreamed of venturing into the serious business, but do not know what it wants to run a business." Fernandes said the idea for this came spontaneously airline during his stay in London, while watching television.
"I'm interested to see ads a low-cost airline, Easyjet. Then I rushed to Luton Airport (in London) and spent two days there. "I was intrigued by the concept that business and plans to introduce the service in Malaysia and keep the dream to develop the concept in the Asian region," he said when met in Kuala Lumpur on Saturday.
He said, after returning to Malaysia, he has expressed his intention to establish the airline to his close friend (Datuk) Kamarudin Meranum who is a former employee of investment bank and is now the Executive Director of AirAsia.
"I recognize Kamarudin through Sheila Majid (Queen Jazz Malaysia) and in addition, Kamarudin also a close friend of Roslan Aziz (music producer). "I expressed my wish to become entrepreneurs and established airlines to Kamarudin.
"After listening to my explanation of it, Kamarudin agree to be together and we then withdraw their savings and managed to collect a total of RM1 million as initial capital," he said.
Fernandes said he still remember that fateful date was in May 2001. He and Kamarudin invite another friend both of them in the music industry, namely Aziz Bakar to join.
"We then met Datuk Pahamin Ab. Now, to ask for his help to get a pilot's license.
"We asked for help because he Pahamin before it helps a lot in the music industry during combat piracy became Secretary General in the Ministry of Trade Affairs," he said.
According to Fernandes, Pahamin then arrange an appointment for us with Tun Dr. Mahathir Mohamad, who was then Prime Minister.
"During the meeting, Tun Mahathir has informed that the license airlines are no longer issued and if we are interested in, we were asked to take over any existing airline at the time.
"Pahaminlah who changed our dream come true," he said. For his services (Pahamin), Fernandes said he was invited to become a partner Pahamin. Fernandes and its partners then took over the airline AirAsia Sdn. Bhd. of DRB-Hicom Bhd. by Tune Air Sdn. Bhd., On 8 September 2001 to apply the concept of cheap fares.
When taking over the Tune Air, they also had to take over the company's outstanding debts with Malaysia Airlines Bhd., Malaysia Airport Holdings Bhd. and Petronas, which amounted to RM20 million, he said.
"After taking over AirAsia, we were given six months to pay off all the debts due.
"We've talked to find a way how to explain this debt because we do not have sufficient capital," he said.
According to Fernandes, their savior when it is AirAsia contract with the Pilgrims Fund inherited from DRB-Hicom, which generate profits to AirAsia.
He said the benefits of the contract AirAsia was used to repay the debt.
"Contracts flights pilgrims who has two years left when we took over AirAsia has been a lifesaver, if there is no contract, I do not know what might happen in our time.
"We have also asked another friend of our former guitar player base group Discovery (Datuk) Nasser Abdul Kassim who never played together Fauzi Marzuki and Goh Boon Hoe to manage such contracts, '' he said.
Nasser is currently Director of AirAsia Cargo region, he added. Nasser managed to carry out their duties with distinction, but once the contract is not extended because the government gave it back to the MAS contract, he said.
"We in AirAsia was gregarious and we appoint friends from different backgrounds and ethnicity to become our partner. Apparently this has been a successful formula to AirAsia, "he said.
Fernandes said AirAsia's success is not only a manifestation of the country's success but a symbol of the success of a society in managing a business enterprise. When told about the further development of AirAsia, Fernandes said: "Recently, we have appointed Mark Lankester (brother of actress Susan Lankester) as Deputy Chief Executive Tune Hotels.Com; Datuk Seri Kalimullah Hassan as Chairman of AirAsia X; Zafrul Aziz (former Chairman Avenue Securities Sdn. Bhd.) As CEO of Tune Money Sdn. Bhd. and rock singer, Jason Lo as Chief Executive Tune Talk Sdn. Bhd. "Fernandes said he knew Kalimullah while eating at a restaurant.
Tune Hotel hallmark of Malaysian entrepreneurs
He said they were all his close friends, and step appoint them to the company is aiming to develop AirAsia.
"I am aware that my great success in a short period it has raised accusations of our company supposedly owned by Ananda Krishnan, Vincent Tan, Mokhzani, Khairy and several others.
"Some have even claimed that the registration numbers on our aircraft starting with 'AK' means Ananda Krishnan. The actual number has long existed in our air and our numbers have inherited it from former parent company, DRB-Hicom Bhd., "He said.
While denying all rumors, Fernandes said the company's success is the result of hard work of all employees AirAsia consisting of all races, who work tirelessly to bring AirAsia to its peak now.
About conjunction with Khairy, Fernandes said he knew Khairy during the Vice Chief of the program introduces the concept of the reality of the football team, Radiant in 2006.
"I was intrigued by the concept because he felt the potential to be highlighted and then agreed to sponsor the team, not more than that," he said.
Fernandes also proud of the success of AirAsia is on self-reliance and not depend on government subsidies.
He said it was nothing special in AirAsia, anyone can do it, if there is a strong willpower and determination, as well as attitudes do not want to budge.
In the six years since its inception, AirAsia staff has increased from 200 people to 5,000 people by air increased to 65, compared to the two aircraft at the start and the total of 200,000 passengers a year to 18 million a year.
Now Fernandes and friends of all races prove Malaysian companies to compete on the global stage and changing the landscape of the country's aviation industry in line with the company's label, 'Now Everyone Can Fly'.