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How To Be A Good Entrepreneur

1138 words - 5 pages

Question 1
What are the steps to be a good entrepreneur? Write your suggestion and recommendation based on your observation and experience in Malaysia.
1.0 Introduction
An entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. According to Martin (2010) an entrepreneur sees an opportunity which others do not fully recognize, to meet an unsatisfied demand or to radically improve the performance of an existing business. To have self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way. For example, When an almost bankrupt security company was offered to her, Datuk Maznah Hamid and her husband, who were eager to change their ordinary life, took the plunge and sacrificed RM5,000 of their saving. Only then she realized that apart from managing the operation, she also had to be a manager, a clerk, an accountant and a receptionist. To grow their business, they had to sell their house and moved to a slum that came without electricity. But she persevered. Today, it’s difficult to find someone who has never heard of Securiforce.
From research, there have a many steps to be a good entrepreneur:
1. Experience in career
Those having experience in career employed and successful implement responsibility during the career usually were capable of doing business decision that is good compared them that green. This group also possess bright outlook to get capital and usually their effort never afford halfway. For example, Mydin is excellent example in this matter. Those who there is follow the talk surely have heard experience career.
2. Business planning
There are opinions stating that working paper business no need to start business. But important planning permanent business whether there is translated above paper though adhere in brain entrepreneur. If entrepreneur need business loan, so business planning need to be poured above paper to ease approval business loan. Usually were those planning is two times more successful than that there is no.
3. Character that is positive
Nice personality like understand, easy going and so on very helpful in someone success. If feel become as it is when hot tempered foot, not for bearing and so on can make become successful entrepreneur, think again.
According to Park and Peterson (2006) signature strengths are positive traits that a person owns, celebrates, and frequently exercises. The list above is more than a simple demographic. We mapped these strengths on to the character strengths tradeoff diagram that Dr. Peterson included in A Primer of Positive Psychology, Remember the caption from this diagram, The farther apart are two strengths, the less likely it is that the same person habitually shows both. The top 5 character strengths for entrepreneurs are evenly divided between the heart and the mind sides of this diagram. Interestingly, they are skewed...

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