SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

1.0 INTRODUCTION
Entrepreneurship is a business that is unique and innovative. In most cases, the person
or the party behind the business venture is working to provide something new to the
market. This includes the amount of planning and understanding the needs in the
potential market. This is considered to be a competitive option that requires research,
resources, and innovation in detail if you expect to succeed. In short, it is like going into
business for yourself but you're taking a risk in the hope of reaping the rewards that you
hope to achieve.

In today's society, become an entrepreneur can take you to the next level in the
industry. It is about taking the initiative to present something new or make improvements
to an existing things. You need to be a leader that willing to take risks to find new ideas
and concepts into reality. Some say you have to have a certain mindset when it comes to
being a successful entrepreneur. Others see it as a different form of self-employment
which motivates you to work harder since you will depend on personal skills, knowledge,
and resources. There is a level of uncertainty when defining the entrepreneur.

Entrepreneurship is recognized as the driving force behind economic growth in

recent years. Among the most popular products in the world of everyday items were
created by an entrepreneur. They began as simple ideas that required a well-organized
plan and funding to see it out toward success. There are business owners that start with
an idea and little or no money. It is a matter of studying your competition and be willing to
make mistakes in order to make you have a better concept. Organization, planning, and
resource utilization help a unique person to make a difference in getting the idea off the
ground.

A person who is self-employed or new business owner can be labeled as an

entrepreneur. Depending on the creativity and originality of the concept behind the type
of entrepreneurial activity that they will vary. Negotiate with investors, describe your
concept, and also convince others to see your idea as a realistic all the important aspects
that need to be managed. To many entrepreneurs, this is more than just running and
growing a business.
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2.0 ENTREPRENEURIAL TRAITS

Being a successful entrepreneur means more than starting a new business every other
day. This means the right attitude towards business and the determination and grit to
achieve success. A successful entrepreneur has a strong inner drive that helped him to
succeed. Let's look at the quality of the entrepreneurial traits that goes into making a
successful entrepreneur.

2.1 NETWORKED
Networked definition in entrepreneurial view is developing and using contacts made in
business for purposes beyond the reason for the initial contact. For example, a sales
representative may ask a customer for names of others who may be interested in their
product. The ability to network is one of the most crucial skills any entrepreneur can have.
But many people are put off by the idea of networking, thinking it requires a phony, glad-
handing personality that oozes insincerity. Nothing could be farther from the truth.

For example, that a good networker should be outgoing, sincere, friendly,

supportive, a good listener or someone who follows up and stays in touch. Many people
go to networking events, but very few know how to network effectively. Networking is
more than just getting out and meeting people. Networking is a structured plan to get to
know people who will do business with you or introduce you to those who will.

The best way to succeed at networking is to make a plan, commit to it, learn
networking skills and execute the plan. To make the best plan, make a five-year
networking plan listing the business five best customers, five targeted prime prospects
and five targeted organizations. Next, set goals for involvement in each organization,
determine how much time will need to commit to each organization and prospect, and
decide what kinds of results that been expect.

In Malaysia, as example, Tan Sri Robert Kuok Hock Nien is a successful

entrepreneur in Malaysia. He was born on October 6, 1923 in Johor Bharu. He is an
entrepreneur who is Chinese and now residing in Hong Kong. He was the richest man in
Malaysia. He have a variety of businesses and a lot of investment in many Asian
 SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

countries. Among his businesses include sugar cane cultivation in Perlis (Perlis Plantation
Bhd.), sugar refining, flour milling, animal feed, oil and mining, finance, real estate, hotels,
trade and transport and publishing.

Robert Kuok took over his father's business, name Keng Kang in 1949. His father
held a good relationship with the Sultan of Johor up to get a license to do business and
sell basic necessities such as rice, sugar and flour and also supply goods to 5000
Japanese prisoners of war to the Government British. From the experience gained, he
has encouraged close ties to emulate his father by the Johor Malay leaders. This enabled
him to expand business networks are built.

After independence, he founded the Malaysian Sugar Manufacturing Company

and forge links with Mitsui Bussan Kaisha Lt and Nissin Sugar Manufacturing. It’s got a
wide range of amenities and is granted monopoly status from the government. He also
opened the country's first sugar cane fields of Perlis Plantation on government-owned
land with the help of Felda. He has opened up a factory in Malaysia and Indonesia to
meet the high demand for sugar.

Managing also received cooperation from the authorities such as the Armed
Forces Fund Board and the National Trust which enabled him to maintain contact with
the highest levels of government. With a good network of relations with the government
have prompted the government to ask for help from Robert Kuok to set up the Malaysia-
Singapore Airlines (MSA). He is also involved with the establishment of Bank Bumiputera
Bhd and Perbadanan Nasional Bhd to attract Malay participation in the economy.

He also established Kerry Trading Company by stepping into the field of media
and real estate. His company have a network of about 10 company public issue of Hong
Kong, including south China Morning Post, as well as English-language newspaper. He
also took over TVE Holdings involved in the field of real estate, entertainment, retail and
publishing. He expanded his business network up to Hong Kong and China, covering
various branches of business. He was the first person in Asia to have successfully
established a network of five-star Shangri-La Hotel.
 SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

Currently, there are 72 hotels Shangri-La in the world. In conclusion, it is apparent

Tan Sri Robert Kuok is a smart person in expanding its business network over time. He
managed to establish good relations and strong business network run by entrepreneurs
such as successful entrepreneurs in Asia such as Lim Sioe Liong, Datuk Tan Chin Nam,
Tan Sri Khoo Kay Peng, Run Run Shaw and others. He also emphasizes the close
relationship and cooperation with Asian countries. This proves that the characteristics of
the network in the business can provide many benefits to an entrepreneur.

2.2 OPEN RISK TAKER

Risk-taking is a part of entrepreneurial life. Business owners must know when to seek
loans, when to expand, when to risk a steady salary in favor of self-employment and how
to judge the potential benefits of taking a risk. Entrepreneurs have to have a risk-taking
spirit, because not taking risks can kill a business before it gets off the ground. But they
have to balance that impulse, excessive risk-taking can destroy a business and its
owner's credit, finances and personal life.

A willingness to take risks can give an entrepreneur a competitive edge. For

example, opening a second shop where other business owners are afraid to open one
could pay off with a loyal customer base. Taking out a loan could give the business owner
the necessary startup capital needed to fund their business. Business risks can move a
business forward. They can gain the owner a reputation as someone who knows how to
make good decisions and accurate business assessments. Entrepreneurs with a well-
informed risk-taking spirit might see opportunities where others don't and might be able
to spot trends well before the market is saturated.

Good planning and meticulous financial management can help an entrepreneur

determine which risks are sound and which are not. When necessary, business owners
should hire experts to help them make decisions. An attorney, for example, can advise
about the legal risks of business decisions. An accountant can help project potential
profits and losses, and industry experts can advise about trends in the field. Business
owners are more likely to fail when they don't have enough information or take risks
 SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

without first considering all possible alternatives. They should surround themselves with
trustworthy people and never make a business decision purely on a whim.

In Malaysia, as example, Tan Sri Mustapha Kamal Bin Abu Bakar, a graduate of
the University of Malaya began her career in 1970 in the Government service in Selangor
District and Land Office and was appointed Deputy Commissioner of Lands and Mines,
Selangor. Later, he moved into the private sector and he was appointed as Managing
Director Shah Alam Properties Sdn. Bhd.

At the stage of his career that he has collected all the experience, knowledge and
skills and then be brave and take risks to start its business associates itself in the field of
real estate development. Tan Sri Mustapha Kamal Bin Abu Bakar began setting up his
company, MK Land Holdings Berhad, a property development company which was
established in August 2, 1987 and is listed on the Kuala Lumpur Stock Exchange (KLSE)
on 8 June 1992. Originally, the company was known as Perfect Food Industries Sdn. Bhd.
which make and sell biscuits and groceries through their factory in Melaka.

After it’s listed on the KLSE, it is called Perfect Food Industries Berhad and finally
the name of the company changed to MK Land Holdings Berhad. Tan Sri Mustapha
Kamal risked openly by selling all of its shares in Perfect Food Manufacturing Sdn. Bhd.,
Markin Corporatin Sdn. Bhd. and Fairway Review Sdn. Bhd. at price of RM 6,379,674.
He wants to focus its business on property development and investment. He successfully
managed and determine his own direction of his company's operations.

He was well known for his bold action to create innovation by highlighting ways of
life "e-lifestyle township" modern and high-tech companies in the area of housing under
MK Land. He managed to bring MK Land status as a successful real estate company to
develop remote areas become the elite of sophisticated information and communication
technology infrastructure such as Damansara Perdana and Cyberjaya. In addition, MK
Land has also been involved in the hotel industry and tourist resorts such as Bukit Merah
Laketown Resort and Spa Lagoon. He has managed to put his name on the list of 10
richest people in Malaysia to prove his success in the real estate field.
 SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

2.3 OBSERVANT
Observant definition in entrepreneurial view is identifying your competitors and evaluating
their strategies to determine their strengths and weaknesses relative to those of your own
product or service. A competitive analysis is a critical part of your company marketing
plan. With this evaluation, you can establish what makes your product or service unique
and therefore what attributes you play up in order to attract your target market.

Evaluate your competitors by placing them in strategic groups according to how

directly they compete for a share of the customer's dollar. For each competitor or strategic
group, list their product or service, its profitability, growth pattern, marketing objectives
and assumptions, current and past strategies, organizational and cost structure, strengths
and weaknesses, and size in sales of the competitor's business.

However, what an entrepreneur really needs to be is highly insightful of consumers’

needs. A more abstract definition of entrepreneurs may relate to individuals who identify
various needs and requirements of a consumer market that remain unfulfilled. Once
identified, the entrepreneurs take the initiative to set up an enterprise with the rudimentary
objective to deploy the business machinery towards the fulfilment of identified unfulfilled
consumer needs in order to generate optimum profits for themselves.

As example, one of the figures that have sharp observant senses are Datuk Loh
Boon Siew. Datuk Loh Boon Siew is an entrepreneur who introduced branded motor
vehicles in Honda's never there in Malaysia at that time. He comes from a village that is
located in Hui Village Sial area that is a locality in China that is considered to be the
poorest region some time ago.

Datuk Loh came from a family that was very hard, causing him no chance to go to
school. Therefore, since childhood he has worked as a collector stool used for agricultural
fertilizer and fish for sale that can be used as a supplement family income. He shared his
father had migrated to Penang when he was 12 years old working in a mechanic shop
and a bus wash at night just to earn more so they can send money to their families residing
in China.
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However, he was more interested in his own business when he was 18 years old.
He had begun to think about how to do to get that opportunity. As a result of money saved,
he bought some mechanical equipment and 8 buses that serve as the passenger bus
which eventually lead to good results for him. He managed to have 40 buses in the past
7 years and reopened a store that stores the battery and vehicle spare parts. Datuk Loh
Boon Siew expand his business by selling used cars and become distributors of some
sort of British motorcycles.

In 1958, while he was eating the wind in a country such as Japan, he spotted a
Honda motorcycle designer and think that the bike is still not used in Malaysia at the time.
So he tried to order 12 units of motorcycles and sold to her closest friends. However, the
public considers useful and motorcycles is not quickly broken. But, it did not dampen his
enthusiasm for a motorcycle the vehicle series. He managed to make the Honda brand
vehicles as the third largest vehicle sold in the country since 3 years ago.

2.4 VISIONARY
Any success you have in life must begin with a vision. A vision is the ability to see what
others cannot see. It is being able to have a picture in your mind of exactly the result you
intend to produce. The visionary entrepreneur is able to see exactly what his or her
business is going to look like in every detail when it is finished.

The visionary entrepreneur constantly thinks in terms of innovation. Innovation is

the process of constantly looking for and better ways of doing business. It is the process
of constantly coming up with better and more cost effective ways of bringing your products
and services to your prospects and customers. As author and management consultant
Peter Drucker said, a business has only one function and that is to create a customer.
The only way you do that is with marketing and innovation. Everything else is just costs
and expenses of doing business.

Entrepreneurs have the vision to plan not only for the short term, but for a long
time to achieve the goals and vision of the organization. For example, they make the best
decisions and to consider the challenges, threats and opportunities that will be
 SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

encountered. The entrepreneurial vision is not about creating new products or services.
It is all about creating a better way of doing something that enriches people's lives.

Entrepreneur vision should give them a clear and focused intention of exactly what
they want for their life and for their business. When they have a clear and focused vision,
they can take any ordinary business and make it perform in an extraordinary way. When
the entrepreneurs do this any business they build will achieve extraordinary results.

For example the story of women’s entrepreneurs Madam Sairolniza Jamadi who
have the high vision. The entrepreneur opened a business called Rabiah Amit Cake
House. Visionary in itself clear when the vision is to change the traditional marketing its
Sarawak Layer Cake maker of the methods of dealing face to form a business online.
Entrepreneurs are also expanding business market that are inherited from the mother at
the global level using information technology skills. Despite various obstacles impassable
either from outside or inside, these entrepreneurs continue to persevere and make it a
challenge.

According to Yep White (1985), challenges that must be passed by an

entrepreneur can be divided into self and family, challenge yourself more centered on his
ability to perform the duties and responsibilities efficiently and effectively. Effectiveness
depends on the skills, experience, ability and willingness to discipline yourself to sacrifice
pleasure and leisure. The second challenge, namely the family occurs in two forms,
namely they did not believe in the ability of the individual business. As a result of this
situation could discourage entrepreneurs. Moreover, the family refused to give a positive
and constructive cooperation to prevent progress.

2.5 FAILURE IS ON OPTION

The next trait is a failure for entrepreneurs is on option. An entrepreneur who wants to
succeed in the 21st century need to think about any failures that occur due to the choice
should be made part in the business, which everyone would encounter it. Thus, the
entrepreneur will be pessimistic about the difficulties, hardship and difficulties that it faces
and will not repeat the same mistakes in the future.
 SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

Furthermore, in any business or field of endeavors, not everyone will be successful

because there are some entrepreneurs who succeed, while others fail. Among one of the
failures of an entrepreneur is an attitude, (MB Young et.al, 2003). All sorts of things can
be classified as a person's attitude, for example in terms of work discipline, ethics and
sense of responsibility. Therefore, every choice whether in making decisions and actions
need to be studied in depth after taking into account the calculated risk.

For example, business owners of Aqaf Gallery and Aqaf Trading who name
Zaklean Ansari Zambri. This women’s entrepreneurs initially only hamper trade,
souvenirs, gifts and organize the event. Madam Zaklean is a single mother who tireless
care of their children and at the same time on-line trading in organizing events and
providing corporate hampers and gifts. In fact, this single mother did not give up even
more eager to live independently seek to raise their children.

Thanks to the enthusiasm and support from the government to give

encouragement and motivation, single parents made the choice to rise again and
continue to do business online. The method used to facilitate entrepreneurs to be more
active because it does not require high capital and there is no need to provide the
business premises as well as enough to provide all of their own homes.

2.6 CULTURE
Open culture is a concept according to which knowledge should be spread freely and its
growth should come from developing, altering or enriching already existing works on the
basis of sharing and collaboration, without being restricted by rules linked to the legal
protection of intellectual property. In a context of globalization, the consequence is that
all citizens should have equal access to information. In an entrepreneurial view open
culture are work is more than a job, it is a lifestyle. Employees are more like a team than
in most companies, and in some cases, they are even like a family.

Fundamental to the success of open cultured is the breaking of barrier. The

entrepreneur needs to create an environment where people can interact with each other,
support each other and recognize each other’s efforts and achievement. The
 SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

entrepreneur need to share information, so that employees are aware of the direction of
the business and are involved in it. Besides that, treating employees with respect help
enable them to do their jobs to the best of their ability.

One example of open culture entrepreneur is Richard Stallman. He is who was

working with the Massachusetts Institute of Technology resigned February 1984 and
launched the GNU project. In 1989, he created the General Public License that gave
interested researchers not only the ability to have access to the source code, but also to
reproduce, modify, and distribute it.

However, the movement split in two different directions. Stallman and the Free
Software Foundation, created in 1985, adopted a social dimension by putting the
emphasis on knowledge sharing, while Eric Raymond and his Open Source Initiative
(OSI), created in 1998 stressed the possibilities for technological development opened
up by the fact that developers could freely use their predecessors’ work.

Richard Stallman and Lawrence Lessing developed tools such as Creative

Commons licensing and “copy left” licenses to help bring about a more open culture.
Although open science has many parallels to the open culture movement, science faces
a unique set of forces that inhibit open sharing. That means that tools such as Creative
Commons licenses, which have been tremendously effective in moving to a more open
culture, do not directly address the principal underlying challenge in science. Although
open science can learn a lot from the open culture movement, it also requires new
thinking.

2.7 OUTCOME ORIENTED

Outcome oriented is synonymous with result oriented, strategic and effective. It refer to
organization or individual who are seek to achieve clearly defined goals. Where they and
their grantees pursue evidence-based strategies for achieving those goals and where
they will monitor progress toward outcomes and assess their success in achieving them
in order to make appropriate correct decision. Besides that, Outcome oriented also is a
term used to describe an individual or organization the focuses on outcome rather than
 SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

process used to produce a product or deliver a service. As such, a number of processes

are used where the most effective and economical process is identified.

The example of entrepreneur that is has outcome oriented traits is Richard

Branson. Richard Branson is well known as a leading business figure throughout the
western world. Although not all of his business ventures and investments have been
successful, he has created a global online and many other businesses, including a chain
if music distribution and retail enterprises, most of which are marketed under the Virgin
brand. Branson is one of a new breed of business leaders who combine personal flair
and entrepreneurial vision with sound business logic and decision-making.

He initiated airline Virgin Australia, which has challenged the entrenched players
in New Zealand and Australia. As business entrepreneurs are motivated by a desire to
see things change and to produce measureable returns. The results they seek are
essentially linked to ‘making the world a better place’, for example through improving
quality of life, access to basic resources or supporting disadvantaged groups.

2.8 TEAM ORIENTED

Team oriented means businesses that stress a spirit of teamwork and collaboration can
capitalize on the individual strengths of their employees. When effective teams are in
place, the collective product is greater than the sum of the individual effort. There are the
ways to ensure a team oriented in business culture. Which are focuses on communication
for large organization to be effective communicator, they must break down the silos and
build a communication strategy around transparency. The team need to know where the
company stands are. Where it has been and where it is headed.

By communicating the mission and vision and how each team member plays a role
in achieving success, everyone can move in the same direction. Besides that, install
loyalty is also the one way to ensure a team oriented. The loyalty has to come from the
top. Management must exemplify loyalty by never throwing anyone under the bus, never
leaving anyone behind and always communicating candidly also providing unconditional
support.
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KONOSUKE Matsushita is the one entrepreneurship that practice team oriented

in him business. He was born into a well-off landowning family in the Japanese village of
Wasa, on November 27, 1894. He grew into a nervous, rather sickly young adult with an
un-promising future. At a time when you had to be well educated, charismatic, even rich,
to succeed, he seemed destined for a life of struggle meant that Matsushita's education
was cut short. When he at age of nine, he took a job as an apprentice in a bicycle shop
to help the family survive.

One of the traits that followed Matsushita throughout his career was a willingness
to take risks. He did that when he quit his bicycle shop job to accept employment at Osaka
Electric Light Company, when he was 16. Matsushita was quickly promoted and
eventually became an inspector, which job Matsushita considered that was a respectable
job at which many might have stayed until retirement. Nevertheless, while working at
Osaka Light, he had managed to create a new type of light socket, one that was better
than anything available at the time. Matsushita showed the invention to his boss, who
was unimpressed.

Matsushita had no money and no real business experience, but he did have driven
and ambition. Therefore, in 1917, at the age of 23, Konosuke Matsushita began the
Panasonic’s journey. He decided to manufacture the device himself. With the help of his
wife and three eager assistants, Matsushita began his business. The combined education
of the five amounted to less than a high school education, and none had any experience
in manufacturing an electric plug. However, they had ambition. In a cramped two-room
tenement house, they worked long hours, seven days a week. After several very lean
months, they had completed a few samples of the new product.

Wholesalers generally rejected his new style electric plug. They told him it was
acceptable, even innovative, but that he needed far more than one single item for the
large wholesalers and retailers to be interested in his company. He persevered, and
gradually people began to buy the plug, when they saw that it was better in quality and
almost 50% lower in price. Matsushita kept his business afloat by taking on contracts for
other items, such as insulator plates.
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By 1922, his firm was introducing new items every month. He was also developing
business strategies that made him stand out from his competitors. He learned that a new
product had to be 30% better and 30% less expensive, than one already on the market.
By giving his products away, he could eventually sell many more of them. He also
pioneered an effective after sale service program. Since this, Panasonic Corporation grew
to become the largest Japanese electronics producer.

In the late 1980s, Matsushita’s revenues hit a whopping $42 billion. With nearly
20,000 employees, Matsushita grew such household brand names as National,
Panasonic and Techniques. Matsushita's success has made him Japan's biggest yen
billionaire. He has also made himself the most widely admired business person in Japan.

In 1929, based on his belief that success can only be achieved if all employees
understand what they are doing and why, Konosuke Matsushita penned his Seven Basic
Business Principles. It was his desire that everyone in the organization have a sense of
purpose, a clear direction, and a firm basis for tackling problems in an ever-changing
world. He believed that these principles, based on a philosophy that respects nature and
society, are applicable to any country in the world, at any time.

More than eight decades later, Panasonic employees around the world find these
principles as relevant in our age of digital and wireless technologies as when Matsushita
first wrote them. We support these principles in everything we do. All of our employees
around the world aim to continually provide valuable ideas to enrich people’s lives and
contribute to the advancement of society through our development, manufacturing, sales,
and service activities.

The Several Basic Business Principles that he introduce which are:

I. Contribution to Society

We will conduct ourselves at all times in accordance with the Basic

Management Objective, faithfully fulfilling our responsibilities as industrialists to the
communities in which we operate.
 SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

II. Fairness and Honesty

We will be fair and honest in all our business dealings and personal conduct.
No matter how talented and knowledgeable we may be, without personal integrity,
we can neither earn the respect of others, nor enhance our own self-respect.

III. Untiring Effort for Improvement

We will strive constantly to improve our ability to contribute to society

through our business activities. Only through this untiring effort can we fulfil our
Basic Management Objective and help to realize lasting peace and prosperity.

IV. Courtesy and Humility

We will always be cordial and modest, respecting the rights and needs of
others in order to strengthen healthy social relationships and improve the quality
of life in our communities.

V. Adaptability

We will continually adapt our thinking and behavior to meet the ever-
changing conditions around us, taking care to act in harmony with nature to ensure
progress and success in our endeavors.

VI. Gratitude

We will act out of a sense of gratitude for all the benefits we have received,
confident that this attitude will be a source of unbounded joy and vitality, enabling
us to overcome any obstacles we encounter.

2.9 PROACTIVE
Becoming a successful entrepreneur requires many skills. One of the key components of
being an entrepreneur is be a proactive. Being proactive means creating or controlling a
situation by causing something to happen rather than responding to it after it has
happened. (Krista Hillis, 2014). Proactive also means planning ahead. The entrepreneur
needs to know their business inside and out. A proactive entrepreneur is likely to gain
 SADE1013 INTRODUCTION TO ENTREPRENEURSHIP

various accomplishments. Be controlling various situation, they will have specific goals in
mind.

In order to be a proactive entrepreneur, they need to develop habits that allow

them to pursue business goals. Habits become a second nature, so it’s important to
incorporate proactive habits into your everyday work life. These habits will include
targeting possible problems before they occur. The entrepreneur should get into the habit
of being precautionary, while you create backup plans.

Besides that, the entrepreneur also needs to be organized in term of the planning.
Continually make list regarding task that need to be completed in the near future. Tackle
this task before there any issues involved. The entrepreneur also needs to focus on the
steps that are required to get them where they are needed to be. These steps will include
planning for unforeseen events. Once all proper steps are taken, they can respond to
situations effectively.

Vivy Yusof or her real name Vivy Sofinas Yusof who is the Managing Director
FashionValet.net at a very young age at the age of 25 years. Although she earned a
master and bachelor degree in law from the School of Economics, United Kingdom, but
she did not choose it as a career field. At first, she wanted to be a businessperson and a
dream to open a real estate based company. However, due to the fashion world
obsessed and prone shopping experience for five years during the study in London She
intends to open a fashion business called FashionValet.net of a web local designers sell
their work through online.

She was excited by the population in London who so appreciates the work of local
designers and fashion development there makes it as motivation to open up a fashion
business through the web. However, she put a limit to sell clothes that are not outrageous
and disrespectful. She is to be selective in choosing a design that will participate in this
FashianValet.net because she will only choose designs that are relevant to wear, simple
, polite , do not overdo it and make sure the quality of the goods and beautiful to wear.
She was fond of and willing to tighten their belts just for shopping through online takes up
the challenge with open a business after graduation through the web in Malaysia because
at that time she realized technology development in Malaysia is booming .
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Busy with everyday tasks at the office in order to help her manage the business
deal of her father caused she have no enough time to go to mall and caused traffic
congestion in Kuala Lumpur. She have took proactive steps to figure out how she should
do something to facilitate the purchase of goods by means faster and fun with her best
friend , Fadzarudin Maher . She is also taking proactive steps by being thrifty in their
spending and make savings in preparation to expand her business one day and make
her father's example and reference for the conduct of business and gained a lot of useful
advice.

3.0 BIOGRAPHY OF SUCCESSFUL ENTREPRENEUR

One of successful entrepreneur that we choose is Bryan Loo. Bryan Loo is a Malaysia
entrepreneur and he is the master franchisor for the Chatime brand in Malaysia. He is the
CEO of the faster growing beverage brand in Malaysia. Bryan Loo has been the winner
of the Best Master Franchiser award in 2012 and be called “ Emerging Entrepreneur Of
The Year” at the Ernst & Young Entrepreneur Of The Year Awards in 2013.

Bryan Loo was born in Perlis, the smallest state in Malaysia. Loo is married and
has second daughter. His first entrepreneurial venture was at the tender age of 7. He was
good at drawing comic book and found friend who were willing to pay just for read his
comics. He sells his comic book at RM0.50 to get a bit more pocket money.

He earned a degree in biotech from Monash University in Melbourne, Australia.

After his graduation, he returned to Malaysia and worked for a biotech company. After
two years being a worker, Loo have decided to start his own business, and looked into
the possibility to selling bubble tea. To achieve he dreams, Loo travelled to Taiwan with
his father. He was approached five companies with an offer to bring their brand to
Malaysia, but all rejected his offer.

After that, his cousin who had just returned from Taiwan told Loo that Chatime was
looking to expand their business. Bryan Loo contacted them and Chatime CEO was flew
to Malaysia to meet Loo within 24 hours. Following the meeting, Bryan Loo was given the
Master franchise for Malaysia. Now, Chatime is currently the fastest growing beverage
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brand in Malaysia, and Bryan Loo leads Chatime franchise in the ASEAN region and was
opening 100 outlets in three years. (). There are some valuable lessons or some trait that
we could learn from him and his success.

Visionary is one of the defining traits of entrepreneurial, which is the ability to spot
an opportunity and imagine something where others haven’t. They imagine another world
and have the ability to communicate that vision effectively to investors, customer and
staff. Entrepreneurship is not merely about earning money, it is also about entrepreneur
satisfaction and purpose. Before Bryan Loo brought in Chatime to Malaysia, his vision
then was to bring the culture of drinking bubble tea into Malaysia as well as cultivate a
tea drinking culture among Malaysia consumers. His visions come true when Chatime
franchise become one of the fastest growing beverage brands in Malaysia and in ASEAN
region.

Risk taking is a part of entrepreneurial life. Entrepreneurs have to have a risk taking
sprit, it is because not taking risk can kill a business before it gets off the ground. Because
of that, open risk taker is the one traits in entrepreneurial. In Bryan Loo case, he is open
risk taker when he makes the decision to leave his paid job and start the Chatime
franchise. Loo willing to leave his job and travel to Taiwan to search the company that
have business in bubble tea and want to bring their brand to Malaysia. But he failed, Loo
was rejected by many top brands and none of them were keen to expand their business
in Malaysia. Until his cousin come and tell him about Chatime. Result of that, Bryan Loo
has become the Best Master Franchise in 2012.

Besides that, observant also a traits in entrepreneurial. Being observant of your

surrounding is one way to unleash your inner creativity. You do not necessarily have to
be an expert in a specific business in order to be a successful entrepreneur. Learning
from its history and observing trend is key to ensure your decision. Bryan Loo also does
not have previous working background in the food and beverage industry. He started
doing research on the industry by visiting different trade expos with his father in Taiwan.
With his aim to look for a food and beverages business that require only an automated
process to control quality.
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After that, Loo see a gap in the beverage industry, at the time only the coffee
market such as Starbucks was the trend. Brayan Loo describe, “There was no real tea
beverages offered to the middle low range target market.” After another few months of
hard work and persuading mall operators to give his concept a chance, and in 2010, he
eventually opened his first Chatime stall in Pavilion KL. That was when the bubble tea
bubble started to grow, and now, with over 100 outlets in nationwide (The Star, 2013).

Networked in entrepreneurship aim is not to grow a single organization but to

achieve a greater impact through a network of collaborators and partners. It will increase
the range of resources that can be brought to bear on an issue and multiples the number
of experiment and innovations and at the same time allowing a solution to be tailored to
particular circumstances (Alex, 2006). In order to be networked, Loo was working on a
bigger project to expand into fast-moving consumer goods. He plans to produce canned
Chatime beverages that can be sold in convenience stores, restaurants and supermarket.
Besides that, Chatime has embarked on marketing campaigns with social apps such as
WeChat and LINE, offering discount and freebies.

The company also sells a limited selection of beverages on Air Asia flights and has
featured the budget airline’s ads on the plastic cover of its beverages. (Ann Tan, 2014).
Furthermore, Loo wants to embark on co-branding exercises with well-known consumer
brands. In terms of beverages, two out of five new beverages it has launched in Malaysia
are co-branded drinks featuring locally accepted flavors. For example, last year, it
introduced Horlicks and Oreo-flavored beverages.

The company recently announced that it would tie up with Cadbury to offer
chocolate beverages. (Ann Tan, 2014). Bryan Loo said, “Co-branding and localization
has become very important to us because we want to eventually make our brand a
household name. We want people to be really familiar with our brand”. This is why
networked become important trait in entrepreneur view.

Becoming a successful entrepreneur requires many skills. One of the key

components of being an entrepreneur is be a proactive. Being proactive means, creating
or controlling a situation by causing something to happen rather than responding to it after
it has happened. To be a proactive entrepreneur, you must focus on the steps that are
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required to get you where you need to be. These steps will include planning for
unforeseen events. Once all proper steps are taken, you can respond to situation
effectively as they surface. In order to be a proactive entrepreneur, Bryan Loo want to
implementing a series of business plan to grow the Taiwan based lifestyle tea brand in
Malaysia. Loo was confident in the Chatime brands potential and growth plan underscore
his steadfast belief that tea beverages are not merely a fad that will eventually fizzle out.

Loo said, “I want to correct the public’s mindset that we are a bubble tea shop. We
are not a bubble tea company. We are a lifestyle tea provider.” He adds that the confusion
could have come about because Chatime offers bubble tea in its menu, and tapioca-
based pearl topping can be added to its drinks as an option. However, that is just one
small part of Chatimes large beverage menu, which offers coffee, milk teas, green and
black tea, chocolate and fruit beverages. Besides that, Bryan Loo intention that from day
one, his target had been to cultivate a modern tea-drinking culture in Malaysia, much like
what he saw in Taiwan. Taiwan has more than 190 tea brands and over 15,000 outlets,
which form the base for the country sturdy is tea culture. “The business was never about
creating hype in Malaysia, it is about modernizing the entire tea drinking culture in
Malaysia.” Loo said.
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4.0 CONCLUSION
As a conclusion, based on the characteristics of entrepreneurship as we describe the
network, risking the open, sharp thinking, visionary, failure is an option, open culture,
result-oriented, team-oriented, and proactive, clearly shows that an entrepreneur must
have such characteristics that can distinguish between normal traders with successful
entrepreneurs. The failure of an entrepreneur when starting a new exercise is normal for
them because failure is not a failure faced forever but instead it was a failure that leads
them towards a better and more successful than others. These entrepreneurs not only
seek to gain an advantage for themselves alone, but they have also contributed to the
nation growth and strengthen to the country's industry.

In addition to creating a new business, they also provide social welfare to the public
as providing assistance, job opportunities and much more. This clearly shows that a
country is not going to achieve the status of developed countries if it not have successful
and competitive entrepreneurs. It may be worth mentioning here that every individual is
capable and has the opportunity to be succeeding an entrepreneur.

Overall discussion so far has highlighted the successful entrepreneur in the whole
world and the growing pride such individual have in their vision. The future may see
narrower definitions of entrepreneurship leading to only a smaller subset of the current
description may encourage more creativity and courage in the younger generation to
become likely entrepreneurs. Politically and administratively, it will be more acceptable to
express one desire to become a great entrepreneur.
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5.0 PRINTSCREEN OF BLOG

http://asasusahawansade1013.blogspot.my/2015/11/introduction-to-entrepreneurial-
traits.html
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CONTENTS

1.0 INTRODUCTION ....................................................................................................... 1

2.0 ENTREPRENEURIAL TRAITS ................................................................................. 2

2.1 NETWORKED........................................................................................................ 2

2.2 OPEN RISK TAKER............................................................................................... 4

2.3 OBSERVANT ......................................................................................................... 6

2.4 VISIONARY ........................................................................................................... 7

2.5 FAILURE IS ON OPTION ...................................................................................... 8

2.6 CULTURE .............................................................................................................. 9

2.7 OUTCOME ORIENTED ....................................................................................... 10

2.8 TEAM ORIENTED ............................................................................................... 11

2.9 PROACTIVE ........................................................................................................ 14

3.0 BIOGRAPHY OF SUCCESSFUL ENTREPRENEUR ............................................. 16

4.0 CONCLUSION ........................................................................................................ 20

5.0 PRINTSCREEN OF BLOG ...................................................................................... 21