2.5 FAILURE IS AN OPTION
Friday, 14 October 2016 03:56 | Written by your name 0 comments
Failure
is a word that carries a negative meaning. No one wants failure. In
entrepreneurship, an entrepreneur will not run out of facing failure in
carrying out its business. However, every entrepreneur must make failure as an
option. The real failure is the first step for an entrepreneur to succeed and
thrive. What is important is to plan from the failure and learn from it. The
average successful entrepreneur holds the principle that failure is an option.
Jack Ma
One
of them is the famous Chinese entrepreneur Jack Ma. Jack Ma is the founder,
chairman and CEO of e-commerce company Alibaba, which is great. In personality
Jack Ma, his own entrepreneurial characteristics is believed that failure is an
option. Even now he is known as the richest man in China but it is not owned
wealth of the family heritage. All glory belongs thanks to his perseverance
after a failure. During his school days, Jack Ma academic performance is not
outstanding. This led to his failed twice in placing themselves in any
institute of higher education in China. But after studying and trying he
finally managed to enter the university on the third exam. After graduating
from Hangzhou Teacher Institute, Jack Ma finally became an English teacher at a
salary of $ 12 a month after failing to obtain other jobs including positions
as a manager at KFC.
Having
experienced many failures in search of work, he finally determined to run their
own businesses. He runs the business translate but less satisfactory results.
He was sent to China to claim a business loan from someone in the United States
but failed to even threatened with firearms. Finally he decided to go to
America. Although at first he failed, but his departure to the United States in
1995 was not in vain. One of his friends in Seattle showed him about internet
technology. He saw an opportunity in small business through the sale and
purchase of goods online. This show he never give up each time he failed. This
is because for every entrepreneur to be success, failure is an option.
Walter Elias Disney
One
of the entrepreneurs is Walt Disney. Walt Disney real name is Walter Elias
Disney was born on December 5, 1901, in Chicago, Illinois, US.
Before
Walt Disney became successful there were many difficulties he has to overcome.
First he was fired while working with newspaper company that saying he is lack
of imagination and not creative enough. After that, in 1921, Walt Disney
decided to open his own animation company. It was his first animation company
and named it Laugh-O-Gram, in Kansas City. He made a deal with a distribution
company in New York that he would ship them his cartoons and get paid six
months down the road. Then, the studio was loaded with debt and he was force to
declare his company gone bankrupt in 1923.
In
1926, Walt Disney and Ub Iwerks created a cartoon character called Oswald the
Lucky Rabbit, distributed by Universal Pictures and it was successful. Later,
some said that Charles Mintz had stolen the right of Oswald while some said
that Walt Disney knew that Universal owned the Oswald character. But Walt was
surprised that his animators being signed by Mintz to contracts except Iwerks.
Later
in 1927 when Walt Disney tried to get MGM studios to distribute Mickey Mouse,
they said that the character would never make it because a giant mouse on
screen will make woman frightened. In 1933 The Three Little Pigs was rejected
by the distributors because it only has four characters. At that time they felt
like cartoons should have figures as many as possible. But after that, it
became very successful. It being played at theatre so long that the poster
outside featured the pigs with long white beards.
Lastly,
Walt Disney showed us the quality of entrepreneur by not easily give up but
used the failure itself as an option to get started fresh with more improvement
and became such a legend. Disney Land became very popular and it is every
children dream to get there. Thanks to Walt Disney that never give up but going
through all the obstacles confidently.
2.4 VISIONARY
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Every
entrepreneur must have a clear vision in life. The ability of an entrepreneur
to see what will happen in the future is one of the success factors. The
definition of visionary is the vision of progress or development in a future.
An entrepreneurs must have visionary leadership that can drive themselves and
others to strive for success in the future. A visionary entrepreneur will have
high ability to detect the opportunity and be able to think of something
creative and innovative. Entrepreneurs also need to set goals for the short and
long terms as the direction of business operations. So, they will be able to
compete with competitors positively.
Jimmy Choo Yeang Keat
Jimmy
Choo Yeang Keat is a Malaysian entrepreneur who have the visionary for his
business. He was born in 1961 in Pulau Pinang. He gained early exposure on the
technique of making shoes from his father because his father was a cobbler. He
received his early education at SJKC Shih Chung and graduated in 12 years old.
He always help his father in producing shoes and managed to produce his first
design of shoes at 11 years old. He said,
"When
I first started, my father wouldn't let me make a shoes. Instead, he said to
sit and watch, sit and watch. For months and months, I did that."
Jimmy
Choo has continued his studies in the field of manufacturing shoes and fashion
in London. His father had to bear the
cost in the first year only. Jimmy Choo do part-time works as a cleaner at the
restaurant and a shoes factory to cover the cost of studies for the next year.
After graduated, he has a clear vision to open stores. In 1986, He rented an
old hospital building in Hackney. Within two years of opening his shop, Jimmy
Choo's shoes were featured in an eight-pages spread in Vogue Magazine, a famous
fashion magazine in United Kingdome. He also wisely resolve any conflicts
encountered on a dispute about his designs.
Jimmy
Choo is visionary entrepreneur as he always done in consultation with external
user about their interest in fashion to produce the best designs. He said
determination in the face of many obstacles and challenges is the first step of
his success. He was awarded the title Datuk by the Sultan Pahang on his success
in Malaysia and international. He also awarded thhe title Professor of
University of The Art, London for his contribution in fashions.
Steve Jobs
Another
example is Steve Jobs who started Apple Computer with Steve Wozniak in 1976.
Jobs and Wozniak has revolutionized the computer industry by democratizing the
technology and making machines smaller, cheaper, and accessible to everyday
consumers. After selling their Apple I, they introduced Apple II and their
products gain attention to all the consumers. Their sales increased and in
1980, Apple Computer became a publicly traded company on the first day of its
trading.
However,
the next several products from Apple suffered significant design flaws,
resulting in recalls and consumers disappointment. The other company which
introduced IBM suddenly surpassed Apple in sales, and Apple had to compete with
an IBM computer who dominated the business world. In 1984, Steve Jobs did not
give up and released the Macintosh, selling the computer as a piece of a
counterculture lifestyle, which were romantic, youthful, and creative. Despite
the positive sales and performance superior to IBM’s PC’s, the Macintosh was
still not IBM-compatible. Steve Jobs was then phased out by the company’s
executive because they think that Jobs does not cooperate to make profit to the
company.
Steve
Jobs then went back to the company and became Apple’s CEO. In 1990s, he was
then revitalized the company just as he instigated Apple’s success in the
1970s. A new management team was created to alter stock options and only takes
yearly salary of $1, Jobs put Apple back on track. His ingenious products like
the iMac, effective branding campaigns and stylish designs had caught the
attention of consumers in America once again.
Steve
Jobs did not stop just selling computers but then Apple introduced such
revolutionary products such as the MacBook Air, iPod and iPhone, all of which
have dictated to the evolution of modern technology. Almost immediately after
Apple releases a new product, competitors scramble to produce comparable
technologies to compete with Apple. In 2008, Jobs innovation has made iTunes
became the second-biggest music retailer in America.
2.3 OBSERVANT
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Observant
is one of the necessary criteria for a person to become a successful
businessman. Observant define as good at watching and listening or good at
noticing everything that happen around. Observant is a very helpful skill for a
businessman to have good future planning toward his business, with good
observation businessman can predict what community will need in the future and
take it as opportunity and make a profit by satisfy the need of the community.
Next,
Through observation businessman also can avoid from having a loss in business,
from information collected through the observation businessman can avoid making
unnecessary investment in his business and can drastically decrease the
probability for the businessman to mistakenly invest and having a great loss.
Richard and Maurice McDonald
The
founder of eminent fast food restaurant McDonald’s Richard and Maurice McDonald
clearly have shown this observant trait. They do realise, nowadays people want
everything fast and no matter what. They want anything as soon as possible
whether it service, goods, or food. This two brother Richard and Maurice
McDonald notice what community want and build a business base on fast food
concept. Where their product is deliciously taste and can be serve in a minute
with reasonable price. Their observation really hit on mark and now McDonald’s
net worth is $61.95 Billion.
Dato' Aliff Syukri
Dato
Aliff Syukri founder of D’herbs healthy product also have shown this observant
criteria in managing his business. There an issue where a football team ask for
his sponsorship and he denied the request. He made the decision because sponsor
a football team is not a good marketing plan for a health product. Therefore,
his clear observant have save him from making meaningless expenditure by not
sponsoring the football team. Sponsoring a football team is not a good
marketing plan for a health product because football and health product is not practically
related and there a lot more effective marketing strategies for a health
product. Such as double the marketing effort on social media or pick any gold
citizen celebrity as ambassador for his health product which is way more
effective than sponsoring a football club.
Girgio Armani
Observant
is a person who paying a close attention to a certain job and the surrounding.
In the entrepreneur context, an observant trait is shown by Giorgio Armani who
is an iconic clothing designer. Giorgio Armani has now become the most popular
names in fashion. The Armani brand now not only sells clothes but includes
makeup, housewares, books and hotels.
In
July 1975, Giorgio Armani with his best friend, Sergio Galeotti has become a
business partner. Their first collection was men’s clothing but then they
introduced women’s collection in the next year. The women’s collections from
Armani receive a positive feedback from consumers. Giorgio Armani is very
observant in making clothes because there was a time his clothes was
revolutionary by introducing a more natural fit and using a more subtle colour
palette. His clothes was popular not only in Europe but also in America until
1980. He also provided many wardrobe to the television series until many of the
actors started to wear his clothes, Armani.
In
1980s, many business professionals wear Armani as the symbol of success. Armani
had suffered a great loss when his business partner, Galeotti passed away
because of AIDS. Armani did not gave up and showed the world that he was just
as talented as an executive as he was as a designer. Armani once said to In
Style magazine that it is difficult for a designer to make one dress,
perfectly, to satisfy only one customer.
As
Giorgio Armani was an observant man, his brand now can be found in major
department stores around the world along with 500 exclusive retails stores.
Hotels have become Armani’s latest venture. In 2010, he opened his first hotel
in Dubai, and another one is expected to open in Milan. Armani has nearly
tapped into every available design opportunity at this point in his career.
Despite his great success, Armani remains modest about his efforts. After more
than three decades in the business, Armani has enjoyed longevity as a designer
experienced by few others.
2.2 OPEN RISK-TAKER
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Open
risk taker is one of the entrepreneurial traits that must needed and applied to
operate the business by the entrepreneurs. Open risk taker can define as
someone who brave to take risks loss or injury in the hope of gain or
excitement. Open risk taker also can define as an individual or business that
tends to behave in a way that can potentially cause physical harm or financial
loss, but might also present an opportunity for a rewarding outcome. Successful
entrepreneurs are always putting themselves in a position where the risk exists
and requires the strength to deal with the risks that would coming.
Henry Ford
As
being an entrepreneur would make them have to go through many risks now and
then. Every business will have to face risks. As an example of entrepreneur is
Henry Ford. Henry Ford was born on July 30, 1863 in Greenfield Township,
Michigan, United States. Henry Ford was an American industrialist, the founder
of Ford Motor Company and the sponsor of the development of the assembly line
technique of mass production.
Henry
Ford takes risk by working on automobiles itself in 1896 because at that time
there were many other working on automobiles with gas powered engines. It was
really competitive that many new companies would be gone by the day. Besides,
to manufacture automobiles in the late 1890s required a massive amount of
capital. It is quite a big risk to be taken since there is no certainty the
production will success with that tremendous amount of capital.
In
addition, Henry Ford wanted to find the people that can believe him and can be
trusted by him. Henry Ford had designed a prototype and then keep trying to
refine the design. But the thing is it was taking very long so that Murphy and
the stockholders were getting restless and not believing him. The board of
directors dissolved the company in 1901 because they lost faith in Henry Ford.
After
that, Henry Ford found an ideal partner, Alexander Malcomson. Like Henry Ford,
he is also a risk taker so he agreed to support through financial and not to
meddle in the manufacturing process. After the assembly plant ready, Henry Ford
get a team of workers to make 15 cars a day. After a lot of hardship, he could
produce his own car from the inside out. And now he is a well-known entrepreneur
in the world.
In
conclusion, to be a great entrepreneur there is a must to take a few risks. If
Henry Ford did not take the risks, he might be unknown to the world.
Furthermore, there are also many others entrepreneurs to be set as example other
than Henry Ford that brave to take risks in order to become a great
entrepreneur.
Tan Sri Dato' Sri Dr. Anthony Francis Fernandes
One
of the entrepreneurs that shown open risk taker characteristics is Tan Sri Dato’ Sri Dr Anthony
Francis Fernandes, also known as Tony Fernandes. He was the Chief Executive
Officer(CEO) of Air Asia and founder of Tune Group. He take risk and made a decision to buy the loss-making Air
Asia. Tony Fernandes initially bought over Air Asia from DRB-Hicom in 2001
with the price only RM1 but Air Asia
have debt about RM40 million and have two ageing Boieng planes. He set
the vision of Air Asia is "To become the largest low cost airline in Asia
and serving the three billion people who are often charged high fares.” No have
anyone willing to take risk, but Tony Fernandes even went as far as to mortgage
his house and use up most of his personal savings to sustain and grow Air Asia.
At that time, nobody understand what he thinking by doing all these things and
most of the people simply think that he was hysterical. But finally, because of
his brave to take risk, now he became a successful entrepreneur and became a
Millionaire in Malaysia.
2.1 NETWORKED
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Network
is a group or system of interconnected people or things. It also can be an
association of individuals having a common interest, formed to provide mutual
assistance and helpful information. Network helps us to interact with people
and engaging them for mutual benefits. Network always be the easiest to start
networking with the people to whom you are closest: friends, family,
neighbours, present and former co-workers or employers, faculty, classmates,
and anyone else with whom you have frequent contact.
Ones
who want to interact with people must have a characteristic that stands out so
someone can notice us among the group of people. First thing first, be
innovative. A business network needs to embrace a next-generation platform for
better performance, thus we have to bring innovations into our activity. For
instance, just automating what you already do is necessary, not sufficient.
Secondly,
learn and practice from others. Before we conduct anything that needs us to
interact with people, we must learn the steps before making a mistake. We can
learn how to structure the industry or firm by following forum or talk about
business by Multi-Level Marketing (MLM). Whatever they did and success, we can
duplicate as long as we willing to listen and be taught to followed the system.
The
purpose of networked is it can help to establish a new business or grow an
existing one. We also can use network to find an investor, customers, staff,
suppliers, and business partners with minimal cost. The advantage of networked
it is the way of inexpensive to promote anything. It also can help us to
discover opportunities and overcome potential issues from being isolated.
Networked can become more effective to spend money with rather than spending it
on advertising. Example of the field that applied networked as their principle
is medical, computer science and business.
Nowadays,
networked is more dominant by using internet. Thus, it is important to be on
the net. Many peoples utilizing the internet as their main marketing tool. You
can set up your site with auto responders so when you capture leads, the auto responder
can follow up with that person. Take an example of one of the social networking
that we have today, Instagram is the best medium for us to market our products
and service in creative ways. With a lot of editing tools, we can be creative
and will increase attention from other users. Indirectly, our business will
experience a fast growing.
Kevin Systrom
Get
to know the co-founder of Instagram, Kevin Systrom, he is an American
entrepreneur, a computer programmer and CEO of Instagram. He with Mike Krieger
launched Instagram in San Francisco on October 6, 2010. Instagram got 100,000
users in their first week, and sold it for $1 billion less than two years
later. Kevin Systrom once said entrepreneurs should not be afraid to have
simple solutions to simple problems.
Kevin
does not use the biggest employees for building up Instagram. The success of
Instagram is by having the best people working on it and having the group or
system of people in place. Kevin surrounds with people who willing to share
their ideas, giving an opinion. He also knows what the users of Instagram want
by observing their behaviour. This shows that Kevin Systrom only uses the
network to build up his career and business.
Mark Elliot Zuckerberg
Another
example is Mark Elliot Zuckerberg is an American programmer, Internet
entrepreneur, executive, and philanthropist. He is the chairman, chief
executive officer, and co-founder of social networking website Facebook.
Zuckerberg
launched the Internet.org project in late August 2013. Zuckerberg explained
that the primary aim of the initiative is to provide Internet access to the 5
billion people who are not connected as of the launch date.
HAI
Friday, 7 October 2016 00:24 | Written by your name 0 comments
HAI
