Entrepreneur Traits

To become an entrepreneur, he/she must applied some traits of entrepreneurship to operate their business strategically and became the more successful entrepreneur in their field. The following is our highly recommended traits that can be applied by the entrepreneur to achieve the goal in their business.

· Integrity and Reliability

Integrity is the quality of being honest and having strong moral of principles. It is generally a personal choice to uphold oneself to consistently moral and ethical standards. In ethics, integrity is regarded by people as the honesty and truthfulness of one's actions. The original word of “Integrity” comes from Latin’s adjective which is “Integer” meaning whole or complete. This context means integrity is the inner sense of “wholeness” that derives from qualities of honesty and consistency of character. For instance, one may judge that others have their integrity to the extent that they act according to the values in the essence of beliefs and principle or philosophy they claim to hold. A value system and range of applicable interaction may also use as some significant factors in identifying integrity due to their congruence or lack of congruence with observation.

  Syeikh Mokhtar al-Bukhari is considered as a very successful businessman with a pleasure kindness at the core of his heart. He believed that the great ideas in an organization come from organizational culture. In 1972, Sheikh Mokhtar al-Bukhari moved on to the transportation which he invested with a small amount of capital of RM 110 000 after successfully acquiring a license for four Class A Lorries. In starting off of his transportation business, he wanted to buy 4 Mercedes-Benz Lorries but the plan did not come to light because of the technical problem, so he only had to buy 2 Lorries. Within the only small amount of capital, he was successful expanding his transportation business. And now, Syarikat Pengangkutan Sentosa Bukhari still exists and has expanded until now, with an annual revenue of around RM250 million.

· Initiative

The initiative is an adjective or natural characteristic in a person that solving a problem with a new approach or plan. In term of judgment, the initiative is regarded to someone that has the ability to use his judgment to make a decision and implement the tasks without any pressure or needing to be told what to do. Victor Hugo, a French writer, has said that "Initiative is doing the right thing without being told." Furthermore, characteristic of initiative also enables someone to spot and take advantage of opportunities that others pass by. 

  Earlier of Apple Inc., Steve Jobs only produced computer technology, soon after, he made an innovation on a computer which he understated computer to the minicomputer. The first smartphone he made was iPhone 2G which launched sometime in 2007. IPhone 2G is a smartphone that can function as well as computer function. Sometimes at the end of 2011, Steve Jobs frequently went on medical leave for his health problem and died on October 4th, 2011. But he had made an innovation on modification of iPhone 4 which is called iPhone 4S that was launched sometime in October 2011. Jobs planned that the ‘S’ model is an improvement technology on iPhone just like the previous iPhone 3G improved to iPhone 3GS. This iPhone 4S model is equipped with some minor improvements added on specification. However, the amazing idea of Jobs on this iPhone 4S is ‘Siri’ which consumer can talk to it to manage stuff. There were never any smartphones have this feature before iPhone 4S, despite iPhone 4 also doesn’t have this feature. Steve Jobs was gone, but his greatest product, Apple, remained. The iPhone 4S entered a market facing greater, more relentless, and savvier competition than ever before.

· Versatility 

Versatility referred as an adaption ability or capable to any difference situation. It describes that someone has many difference skills or extensive knowledge that qualify him to perform in any difference situations or tasks. The noun versatility derives from the Latin word “versatilis” meaning “turning, revolving, moving, and capable of turning to varied subjects or tasks.” Normally, an organization or company tend to employ workers with versatility so they can perform and adapt in many difference work situations.

 

  Tony Fernandes is well-known as a founder of AirAsia. He is definitely a charismatic leader and transformational leader from the four theories of leadership. He communicates a vision that to dream the impossible, and believe the unbelievable which inspired him to be motivated. He is also described as a person who is smart in using technology to in operation, marketing and customer services. By practicing charismatic and transformational leader, he has the ability to align people and systems with his vision. Furthermore, he believes that hierarchy does not work in his company and employees come number one, customer comes number two. As a result, this breaks down the barriers between him and his team members where everyone can see him and approach him anytime. He is the manager, but he is also part of the team. Every department in his company will easily solve their problems very quickly. It shows that Fernandes has the ability to come out his ideas to his employees in every difference work situations. However, there are four of his traits which are focus, supportive, passionate, and collaborative. Focus means that he knows where he is going and has a strongly stated mission to lead people on. He puts the turnaround of the airline down to ‘culture, focus and discipline’. Supportive means that he gave encouragement and genuine support to his crews who are passionate to pursue their dreams. One great example is when one of his cabin crew became his pilot. Passionate means to him is passionate about his company, his employees and the culture he creates in his company. Lastly, discipline is the most important trait to him which means input and feedback from his team members must be alerted so that they feel being part of the process. 

· Decisive

Decisive means “you don’t waffle or take forever to make up your mind and then you stick by what you decided” in vocabulary.com. Sometimes, it can be event can settle something, like a war. Another meaning of decisive is “having or showing the ability to make decisions quickly and efficiently. Usually, an entrepreneur that have this trait are strong- minded.

Tan Sri Loh Boon Siew is an immigrant from region Hui Ann China that came to Malaysia to work. He was a mechanic since he 18 years old. He does extra work to get more income such he washed bus every night. He is visionary became the wealthiest in Malaysia and created a family dynasty that continuous today.

  The Entrepreneur that have this ability was Tan Sri Loh Boon Siew in his company Boon Siew Sdn.Bhd. He was applying decisive traits in manufacturing motorcycle. By applying this concept, he had met the founder of Honda Motor Co.Ltd, Soichiro Honda from Japan then wanted to be a dealer. He was using 95% local component trough the factory and at the same time import it. In 1958, he succeed export 15 motorcycle inside Malaysia and sold out.

Besides that, he trust successful come out with a group results that means we need to help each other to get an extraordinary ambition and he also confirm that the good product and best service are needed to consumer.

· Time competence

Use your time wisely is very important in a business. Time competence in a business is very crucial. This is because while the entrepreneur thinking of the new product, their competitors might already promote the product. Time competence is about how you managed your time efficiently and effectively. 

The second biggest smartphone company, SAMSUNG are applying this skill. Samsung founder was Lee Byung Chul. He is the one who led Samsung to become what they are now. Samsung is very well known of their non-stop release of a smartphone. From Galaxy S-series to Galaxy Note series, they always promoted their product in the right time. Samsung company former president, Lee Kun Hee is continuing the Samsung legacy. 

Most of us know that Samsung biggest competitor is Apple. These two sometimes releasing their product in the same time to provoked each other sales and responses they get from the customer. Although, it is quite hard to choose between Samsung and Apple, I believe that these two company had their own loyal customer who is willing to buy their products. This also shows that Samsung is releasing their product at the exact time. They don’t mind about their competitor, but they mind about their time competencies. 

· Perceptiveness

Perceptiveness from I word dictionary.com mean “having or showing an ability to understand or notice something easily or quickly”.in others words, perceptiveness can describe as insight which means “the ability to understand people and situations in very clear way”. However, most of them who have this ability can move towards and be a success.

The person who applying this concept is Josephine Ester Mentzer in her cosmetic business “Estee Lauder”. She was started learn more about business since she was young. She learned retailing and entrepreneurship from her father hardware shops. She also learned to make self-made cosmetic from her uncle. Lauder is the entrepreneur that thinking perfect taste, hardiness, innovative marketing and hard work to build her empire.

Why she was perceptiveness? In early 1950s, Lauder’s company was small compared to Titans. So she started to enlarge her business with an innovative strategy. $50000 for the capital that used to invested for an advertising budget. Then she used the technique “free gift with purchased”. From the innovative promotion, she was attracted thousands a new customers. She also used Gurilla sales even failed, but she never give up. In her mind, that is a lot of tactics to break prestigious Galleries Lafayette account in Paris.

Lauder is a perceptiveness in a trial and error approach. These perceptiveness skills that she applying was made her be the wealthiest self-made women in America and created a family dynasty that continuous today.

· Ability to Learn from Mistakes

Other skills that are very crucial to entrepreneur the ability to learn from the mistakes. Everyone committed mistakes, but how you will recover from the mistakes? It is very important to recover from the mistakes and by hook or by crook we need to learn from the mistake we made. How does entrepreneur learned from the mistakes and ensure they are successful. 

One of the organizations that had the ability to learn from their mistakes are HipSwap. HipSwap is a company that are based on mobile and web peer-to-peer marketplace for used goods. At first, the company that are set up by Rob Kramer was PopRule. They built the product and advertise them, but things did not go the way they needed. They were anticipated by social media team of Barack Obama’s presidential social network and Facebook. The company had too much diffusion and fragmentation in the market. However, Kramer had thought the solution by doing HipSwap a business that could address the problems of second-hand and peer-to-peer marketplaces. 

HipSwap is the rescuer of the company life built up by Kramer. HipSwap had around 200,000 clients and making $250,000 in their sales and being partner up with VIPs to make their business more successful. Kramer had proved that he learned from the mistake he made. He learned that the excessively cramped website is not good and never at any point fighting with influenced people. He never abandons his business and able to success again by avoiding the same mistakes. HipSwap website is quite popular at abroad and this proved that his business is booming again. There are one quote from Kramer, “You are coming up with ideas in your sleep and awakening them, but sometimes you have to stand back and not to think about it. Allow your mind to rest in a different environment until you are ready again”. 

· Ethical Consciousness

Ethical consciousness is very important to entrepreneur nowadays. Without moral consciousness, the corruption, fraud, dishonesty and losing people’s faith might happen. What is ethical actually? According to Merriam-Webster Dictionary, ethical means “something that involved with right and wrong behaviour” while consciousness means “the condition of being conscious”. In simple words, ethical consciousness is about moral value. 

Most of the car company had this skill because they want to let their customer had faith in them for a long time. One of the companies that are known with their high ethical consciousness is Toyota. Few years ago, Toyota autos, is identified with such a variety of issues, for example, force controlling hose that may be in contact with a front brake tube. This contact could hole to a gap in the brake tube and reason a brake liquid release, expanded brake pedal stroke and more prominent vehicle halting separation. (Toyota, 2010) 

Toyota recalls back more than 12 million vehicles to check back the cars that they had sold. They want to ensure the safety of the customers and they were providing fully sponsors to change the mistakes that had been done by them. This demonstrates that Toyota is worried about their client's security and had high moral awareness in light of the fact that they are willing to concede their oversight and do the right things.

Another example of a company that had high moral value are Cadbury Malaysia. The nation was shocked with the news on Friday, 23 May 2014 “Cadbury chocolate was infected with porcine DNA”. This was a very surprising news as all of the Malaysian knew that Cadbury is one of the ‘halal’ products. The action taken by Cadbury was very ethical. Initially, they recall back all the chocolates that are manufactured alongside with the infected. Second, they invited JAKIM investigators to inspect Cadbury factory and conduct a full inspection of products including the DNA test by Chemistry Department. After several test, JAKIM had verify that Cadbury product are free from porcine DNA and are completely ‘halal’. Subsequently, Cadbury gets back their ‘Halal’ certificate and continue their business. 

· Foresight

Foresight. What does it mean? According to Merriam-Webster Dictionary ‘foresight’ means the “ability to see what will or might happen in the future”. While according to the Thesaurus Dictionary foresight means “providence by virtue of planning prudently for the future”. A business person needs to have this skill to make his/her business not quite the same as the others.

The entrepreneur that are applying this concept is Zalora. Zalora was founded by three youthful ambitious people which are Chris Feng, Stephen King and Tan Wee. They are the largest and fastest growing fashion focused on e- commerce site in Southeast Asia. They were established early 2012 and are available in Singapore, Indonesia, Malaysia and Brunei. They also broaden their business to the Philippines, Thailand, Vietnam and Hong Kong. (Zalora, 2015)

Chris Feng, Stephen King, and Tan Wee, the three entrepreneur were thinking out of the box by doing a business that are based on online. They were able to predict the future or what might happen in the future by doing the online fashion business. Before this, people does not believe in online shopping as there are too many risk and uncertainty to be take. Customers are more likely to purchase the clothes, accessories, bags and shoes at the shop. However, Zalora have taken the risk by doing the online fashion shopping steadily and look at how successful they had become now. Nowadays, people do not have time to go to the shopping mall and choose the item they want to buy. They felt like it is a waste of time as they can shop it online. Why bother going out when you can buy something while being at home? 

Zalora founder was using the foresight skills in order to make their business grew. Years ago, they were facing difficulties because people did not trust online retail business. They kept standing still because they predicted that in the future, most of the people are so busy until they do not have time to shopping, so online shopping is the choices that they had. These foresight skills that Zalora are applying is what made Zalora as the largest and fastest online fashion shopping.