Assalammualaikum everyone,

I would like to says thank you because visit my blog, in this room I would like to tell you a little bit about the efforts that have been doing by me in a process to opening my own business. in the subject behavior of entrepreneurs on this semester, we were asked to conduct a business as we do through this assignment, based on this assignment, I would like to shared to you about the experience that I get.

At first, I thought the business was something very simple. but I thought it was wrong because to do good business, I need to learn a few steps in advance to ensure my business running smoothly. We were divided into groups and our group has agreed to sell food products as our main products.

We got this idea through our study of the condition of our environment where we believes there are among us who are too busy with their daily lives that make their do not have enough time to eat or drink. Therefore we think this situation could be turned into an our opportunity for our business where we agreed to produce food that is cheap, easy, fast and can be carried anywhere. after we do a discussion, we are agreed to sell products that is sandwich.

At first we think our idea is not good because we believe sandwich is the regularly product in the market but after do a discussion, we make decission to innovate our products by adding some other elements into our sandwich to produce exceptional taste and at the same time provide nutrient and give benefits to our customers.

We have performed experiments on our trial product by requesting opinions from friends and others about our sandwich taste whether it is appropriate or not and most of them that are trying our products give a positive responds.

After we confident in the ability of our products, we think of ways to raise start-up capital and here we have agreed to share our money to be used as start-up capital. We also discuss and divide a jobs to each member of the group in which everyone has their own role in starting this business.

After everything is done, then we have officially started our business and we are very happy because our sandwiches got an overwhelming response on the first day of our sales and all sandwich are sold out. We are very thankful for the success of our products and from day to day, our products are gaining momentum and we have been expanding our sales all over the place.but there are some indications that we have to face during our run this business because we are face lose our money on. we also have a problem to get a raw material for our product, but we takes this test as a challenge for us to move forward in the future.

Assalammualaikum everyone, in this room, I would like to post about article that related to entrepreneurs and business

http://money.usnews.com/money/personal-finance/articles/2014/01/28/9-secrets-of-successful-entrepreneurs

Recent college grads increasingly build side businesses in addition to whatever full-time job they are able to land. The 2011 Youth Entrepreneurship Study by Buzz Marketing Group and the Young Entrepreneur Council found that 36 percent of respondents, who were between the ages of 16 and 39, had started side businesses in order to bring in more income. Those businesses included freelance work, eBay shops, tutoring, baking and Web design.

People in their 30s, 40s, 50s and beyond are also embracing the trend. When a 2011 survey by MetLife asked respondents what they were doing to increase their income and financial security, 17 percent of Generation X (now in their 30s and 40s) said they freelanced to boost their income, and 12 percent of baby boomers (now in their 50s and 60s) said the same.

The specific financial motivations often differ by age: Twenty-somethings who find themselves underpaid, unemployed, or underemployed tend to want a side gig that allows them to take full advantage of their education and potential. Thirty- and 40-somethings facing stagnant wages want to give their incomes a boost, especially as their household and family responsibilities grow. Forty- and 50-somethings who've seen their own incomes and assets fall over the last decade want to rebuild their finances before retirement, and 60-somethings are frequently focused on funding their golden years amid rising costs.

Across all age groups, secondary income streams from side businesses can fill the gap between primary incomes and expenses, and make up for the lack of raises or pay cuts. They also offer a new, affirming identity, as well as the ability to build new skills and make new contacts.

The most successful entrepreneurs, from the baker who launched his own custom cake business to the bookstore manager who decided she'd be better off launching her own coaching business, tend to share nine common traits:

1. They know exactly what motivates them, and it often starts with a big loss or other major event in their lives. Chicagoan Nicole Crimaldi Emerick started Ms. Career Girl (mscareergirl.com), an advice blog for young college grads like herself, as a creative outlet. She squeezed in time for blogging by waking up at 5 a.m. before her office job at an Internet startup. She wrote about what she and her friends were experiencing in the job market: uncertainty, the importance of connections and the rising power of social media.

Then, two and a half years after starting her site, she suddenly got laid off. That's when she committed to earning a steady income from what had previously been more of a hobby. Soon afterwards, she hosted one of her biggest networking events yet in Chicago, where 80 young women paid $15 to talk about getting ahead today.A layoff, a new baby, another major life change – successful entrepreneurs can often point to a specific motivating factor, which they return to when the going gets tough.

2. They choose entrepreneurial pursuits that line up with longstanding passions, interests and skills. Entrepreneurs thrive when their business plays off their existing skills, talents and interests – choosing a business that leverages those is the first step to success.

3. They minimize their expenses in both their professional and personal lives, while finding ways to invest in their venture. Many successful small business owners take pains to first pay off debt, shore up an emergency fund and otherwise get their finances in order before launching their venture. That way, they can focus on building it without additional financial stress.

4. They rely heavily on online communities of similarly minded people. Twitter, Facebook and other social media outlets make it easy to connect with like-minded people. Instead of thinking of other people in your field like competitors, embrace them as mentors and friends. They probably have a lot to teach you.

5. They actively and shamelessly promote their brands through social media and other grass-roots marketing efforts. People can't buy from you if they don't know what you're selling. Promote yourself – and your product and service – frequently. Make sure your underlying message helps people or makes their lives easier, to keep your customers coming back for more.

6. They master time management strategies that enable them to maintain full-time jobs along with their side ventures (and the rest of their lives). It's not easy balancing a full-time job and a new entrepreneurial pursuit, but it is possible. Many entrepreneurs report waking up before the rest of their house, or finding slivers of time throughout their day, or otherwise schedule their lives to carve out at least a few hours a week to continue building their business.

7. They find ways to be resilient in the face of inevitable setbacks. Lack of sales, bad reviews – these kinds of negative experiences are an inevitable part of entrepreneurship. The ones who succeed find the strength to keep going anyway.

8. As their businesses grow, they support other small shops and startups by outsourcing tasks, which further enhances their own businesses, and often find other ways to give back as well. Giving back to the community that helped you build your business not only makes you feel good, but it makes your customers feel good, too, and further enhances your brand.

9. They derive a deep sense of financial security and fulfillment from their businesses, far beyond money. Extra money from a new side business is helpful, of course, but side giggers are even more likely to cite a deep and abiding sense of satisfaction that they get from knowing they are creating useful products or services that help people. That's what keeps them going.

If you're ready to launch your own side gig – to save you from financial fear and frustration, to make you more secure and wealthy, and to give you a sense of satisfaction and personal accomplishment beyond what you get from your main source of employment – then consider applying these nine strategies to your own life. You'll be building the economy of you.

http://www.mindtools.com/pages/article/newCDV_76.htm

Entrepreneurial Skills

The Skills You Need to Build a Great Business

What skills do you need as an entrepreneur?

© iStockphoto/leventince

What makes someone a successful entrepreneur? It certainly helps to have strong technology skills or expertise in a key area, but these are not defining characteristics of entrepreneurship.

Instead, the key qualities are traits such as creativity, the ability to keep going in the face of hardship, and the social skills needed to build great teams.

If you want to start a business, it's essential to learn the specific skills that underpin these qualities. It's also important to develop entrepreneurial skills if you're in a job role where you're expected to develop a business, or "take things forward" more generally.

In this article, we'll look at the skills you need to be a successful entrepreneur, and we'll explore resources that you can use to develop the traits needed for success.

Defining Entrepreneurship

Some experts think of entrepreneurs as people who are willing to take risks that other people are not. Others define them as people who start and build successful businesses.

Thinking about the first of these definitions, entrepreneurship doesn't necessarily involve starting your own business. Many people who don't work for themselves are recognized as entrepreneurs within their organizations.

Regardless of how you define an "entrepreneur," one thing is certain: becoming a successful entrepreneur isn't easy.

So, how does one person successfully take advantage of an opportunity, while another, equally knowledgeable person does not? Do entrepreneurs have a different genetic makeup? Or do they operate from a different vantage point, that somehow directs their decisions for them?

Though many researchers have studied the subject, there are no definitive answers. What we do know is that successful entrepreneurs seem to have certain traits in common.

We've gathered these traits into four categories:

Personal characteristics.

Interpersonal skills.

Critical and creative thinking skills.

Practical skills.

We'll now examine each category in more detail, and look at some of the questions you will need to ask yourself if you want to become a successful entrepreneur.

Personal Characteristics

First, examine your personal characteristics, values, and beliefs. Do you have the mindset that's typical of successful entrepreneurs?

Optimism: Are you an optimistic thinker?   Optimism is truly an asset, and it will help get you through the tough times that many entrepreneurs experience as they find a business model that works for them.

Vision: Can you easily see where things can be improved? Can you quickly grasp the "big picture," and explain this to others? And can you create a compelling vision of the future, and then inspire other people   to engage with that vision?

Initiative: Do you have initiative  , and instinctively start problem-solving or business improvement projects?

Desire for Control: Do you enjoy being in charge and making decisions? Are you motivated to lead   others?

Drive and Persistence: Are you self-motivated   and energetic? And are you prepared to work hard, for a very long time, to realize your goals?

Risk Tolerance: Are you able to take risks, and make decisions   when facts are uncertain?

Resilience: Are you resilient  , so that you can pick yourself up when things don't go as planned? And do you learn and grow from your mistakes and failures? (If you avoid taking action because you're afraid of failing, our article on Overcoming Fear of Failure   can help you face your fears and move forward.)

Interpersonal Skills

As a successful entrepreneur, you'll have to work closely with people – this is where it is critical to be able to build great relationships   with your team, customers, suppliers, shareholders, investors, and more.

Some people are more gifted in this area than others, but, fortunately, you can learn and improve these skills. The types of interpersonal skills you'll need include:

Leadership and Motivation: Can you lead   and motivate others   to follow you and deliver your vision? And are you able to delegate   work to others? As a successful entrepreneur, you'll have to depend on others to get beyond a very early stage in your business – there's just too much to do all on your own!

Communication Skills: Are you competent with all types of communication  ? You need to be able to communicate well to sell your vision of the future to investors, potential clients, team members, and more.

Listening: Do you hear what others are telling you? Your ability to listen can make or break you as an entrepreneur. Make sure that you're skilled at active listening   and empathetic listening  .

Personal Relations: Are you emotionally intelligent  ? The higher your EI, the easier it will be for you to work with others. The good news is that you can improve your emotional intelligence!

Negotiation: Are you a good negotiator  ? Not only do you need to negotiate keen prices, you also need to be able to resolve differences between people in a positive, mutually beneficial way.

Ethics: Do you deal with people based on respect, integrity  , fairness, and truthfulness? Can you lead ethically  ? You'll find it hard to build a happy, committed team if you deal with people – staff, customers or suppliers – in a shabby way.

Tip:

You can improve your people skills further by taking our How Good Are Your People Skills?   self-test.

Critical and Creative Thinking Skills

As an entrepreneur, you also need to come up with fresh ideas, and make good decisions about opportunities and potential projects.

Many people think that you're either born creative or you're not. However, creativity is a skill that you can develop if you invest the time and effort.

Creative Thinking: Are you able to see situations from a variety of perspectives and come up with original ideas? (There are many creativity tools   that will help you do this.)

Problem Solving: How good are you at coming up with sound solutions to the problems you're facing? Tools such as Cause & Effect Analysis  , the 5 Whys   Technique, and CATWOE   are just some of the problem-solving tools that you'll need to be familiar with.

Recognizing Opportunities: Do you recognize opportunities   when they present themselves? Can you spot a trend  ? And are you able to create a plan to take advantage of the opportunities you identify?

Practical Skills

You also need the practical skills and knowledge needed to produce goods or services effectively, and run a company.

Goal Setting: Do you regularly set goals  , create a plan to achieve them, and then carry out that plan?

Planning and Organizing: Do you have the talents, skills, and abilities necessary to achieve your goals? Can you coordinate people to achieve these efficiently and effectively? (Here, effective project management skills   are important, as are basic organization skills  .) And do you know how to develop a coherent, well thought-through business plan  , including developing and learning from appropriate financial forecasts  ?

Decision Making: How good are you at making decisions?   Do you make them based on relevant information and by weighing the potential consequences? And are you confident in the decisions that you make?

Core decision-making tools include Decision Tree Analysis  , Grid

Analysis  , and Six Thinking Hats  .

You need knowledge in several areas when starting or running a business. For instance:

Business knowledge: Do you have a good general knowledge of the main functional areas of a business (sales, marketing, finance, and operations), and are you able to operate or manage others in these areas with a reasonable degree of competence?

Entrepreneurial knowledge: Do you understand how entrepreneurs raise capital? And do you understand the sheer amount of experimentation and hard work that may be needed to find a business model that works for you?

Opportunity-specific knowledge: Do you understand the market you're attempting to enter, and do you know what you need to do to bring your product or service to market?

Venture-specific knowledge: Do you know what you need to do to make this type of business successful? And do you understand the specifics of the business that you want to start? (This is where it's often useful to work for a short time in a similar business.)

You can also learn from others who have worked on projects similar to the ones that you're contemplating, or find a mentor   – someone else who's been there before and is willing to coach you.

Tip 1:

As an entrepreneur, you also need to be able to navigate the rules and regulations that apply in the country you're working in. These websites will give you a good start with this:

Australia – Business.gov.au

Canada – Canada Business Network

India – Business.gov.in

United Kingdom – Business Link

United States – U.S. Small Business Administration

Tip 2:

If you choose to learn more about a particular venture by working for another organization, be aware of non-compete clauses in your employment contract. In some jurisdictions, these clauses can be very restrictive. You don't want to risk your future projects by violating the rights of another entrepreneur or organization.

Is Running a Business for You?

Armed with this information, assess your skills in each of these areas. The harder you work to build your skills, the more successful you're likely to be.

Having said that, many successful business-owners are impulsive, uncomfortable with risk, or belligerent with colleagues and customers. Still others have little business knowledge, and have simply hired the talent they need to succeed.

You can succeed without some of these skills, however, the more you're missing, the more likely you are to fail.

As you work through your analysis, you may feel that you're ready to take the plunge into your own venture. Alternatively, you may decide to wait and further develop your skills. You may even decide that entrepreneurship isn't for you.

Whatever your choice, make sure that it feels right. Running a business isn't for everyone.

Key Points

While there is no one "right" set of characteristics for being a successful entrepreneur, certain general traits and practical skills will help you succeed.

By examining your own personal strengths and weaknesses and comparing these with those of the typical entrepreneur, you can get a sense of how well this career will fit with your personality.

Remember, becoming an entrepreneur is a career decision like any other. Do your homework, look at your needs and desires, and then decide whether this path is for you.

This site teaches you the skills you need for a happy and successful career; and this is just one of many tools and resources that you'll find here at Mind Tools. Subscribe to our free newsletter, or join the Mind Tools Club and really supercharge your career!

SUCCESSFUL ENTREPRENEUR

Assalammualaikum, thanks because view my blog....this first room i would post about successful entrepreneur.

TAN SRI SYED MOKHTAR AL-BUKHARY

He was born in Alor Setar, Kedah in 1951. Come from a poor and uneducated family.  He dont have SPM because their family do not had money to pay examination fee.Her father name  Syed Nor Al Bukhary  and her mother name  Sharifah Rokiah Syed Mohamed Rahmat. Before deciding to settle in Kedah, his father traveled to Central Asia for trade. After that his, father move to Thailand. In the mid-40s, then the parent Syed Mokhtar decided to settle in Alor Setar, Kedah. In 1946, his father married. When 9 years old, syed mokhtar al bukhary are move to live with his uncle Syed Omar in Johor Baru until Form Two. Then go back to school in Kedah in Saint Michael's School.

He involve into business by helping her mother sell vegetables. After that he got involved in the field of transport companies and used to start rice business He also established a joint venture with two Chinese businessmen, namely Ng Ghiak Gee and Chua Chong Tan. Ghiak Gee is rice traders while Chong Tan also rice millers. Syed Bukhari hold 52% stake and Ghiak Gee and Chong Tan respectively 32% and 16%. The joint venture company named as Bukhary Sdn. Bhd on July 15, 1976 and operates in the office in Jalan Telok Wan Jah. Sign Bukhary Sdn. Bhd., He began his sugar business and now stands at RM250 million.   

He also involve in many type of business likes food, banking, shoes and clothes, army clothes supplier and the big tender that he get from Malaysia government is to involved in Tanjung Pelepas Port. Besides that, he also hold shares in East Coast Highway which build highway connections from Karak to Kuala Terengganu. He also holds a stake of 22.7% in Malakoff Berhad, the IPP ie electricity supply company and Gas Malaysia. 20 per cent stake in IJM Corporation Berhad in which its main business is manufacturing.  In transportation, Syed Mokhtar Al – Bukhary  hold the share through the company DRB-Hicom Bhd. (DRB) and hers, buy car company Lotus from Proton Holdings Bhd at RM1.29 billion.

Tan Sri Syed Mokhtar Al – Bukhary also involve in charity when he founded Foundation (Islam) Al-Bukhary in 1996. He also offer Albukhary Tuition Program in 2001, a total of 500 tuition centers have build. He also set up a private university, Albukhary International University (AIU) in Alor Setar, Kedah in 2010 and AlBukhary Medical Center Complex in Alor Setar AlBukhary

equipped with a dialysis center and has 36 units hemodialysis machine for free. Through al Bukhary Foundation, 20 mosques were built.

ROBERT KUOK HOCK NIEN

According to Forbes his net worth is estimated at $10.5 billion on Feb 2012, making him the richest person in Malaysia. Robert was the youngest of three brothers, born on 6 October 1923, in Johor Bahru. His father arrived in Malaysia from Fujian, China on the 20^th century. Work as a office boy and after graduation he work as a clerk in the rice-trading department of Japanese industrial conglomerate Mitsubishi Shoji Kaisha between 1942 and 1945, in Singapore, a conglomerate which with the help of Japanese military unit monopolized the rice trade in Malaya during the occupation period. After the world war end, he use the experienced he learn from Japanese to handle family business in Johor.

Kuok and  his two brothers and a cousin Kuok Hock Chin founded [Kuok Brothers Sdn Bhd] in 1949. Their business focus on agricultural commodities. In 1959, Kuok formed Malayan Sugar Manufacturing Co. Bhd. together with two prominent Japanese partners. He have a good relationship with Japanese after world war. He also brought many influential Malay elite into his company as directors and shareholders which include UMNO politician and Malay royalty. Kuok was granted a monopoly of sugar production in Malaysia. In 1961, he made a coup by buying cheap sugar from India before the prices shot up. He continued to invest heavily in sugar refineries, controlled 80% of the Malaysian sugar market with production of 1.5 million tonnes, equivalent to 10% of world production, and so earned his nickname "Sugar King of Asia".

Besides that, he also involved in hotel business like Shangri-La Hotel and invest in many countries like Philippines, Thailand, Mainland China, Indonesia, Fiji and Australia. He also the ownership of Beijing World Trade Centre and have ten bottling companies of coca cola.

TONY FERNANDES

Tony fernandes or his real name Anthony Francis was born in Kuala Lumpur on 30 April 1964. His father from Goa India and his mother are Malayali (Kerala) Indian. At a young age, he would follow his mother who sold Tupperware at Tupperware parties. He was school at Alice Smith School in Kuala Lumpur and when he 12 years old he studied at Epsom College and complete his degree in accounting at London School of Economic.

Worked as auditor in Virgin Atlantic and subsequently becoming the financial controller for Richard Branson's Virgin Records in London from 1987 to 1989. Fernandes was admitted as Associate Member of the Association of Chartered Certified Accountants (ACCA) in 1991 and became Fellow Member in 1996. He is currently a member of the Institute of Chartered Accountants in England and Wales (ICAEW). He also formerly a Warner Music executive in Malaysia.

Prime Minister  Tun Dr. Mahathir Mohamad in October 2001 has advised her to take over the Air Asia airlines that are experiencing loss and conflict. He take the challenge and  mortgaged his home and used his personal savings to acquire the company, comprising two Boeing 737-300 jet aircraft and debts of US$11 million (RM40 million), for one ringgit (about 26 US cents), and transformed it into an industry player. He success to survive in one year and clear all its debts until now known as the low-cost airlines.

Besides airlines, Tony Fernandes also involves in hotel business known as Tune Hotels. He also a founder Caterham F1 Formula One with began racing in 2010 known as Team Lotus. He also a owner of football team known as Queens Park Rangers after he hold the biggest percentage on stakeholder in the company.

TATPARANANDAM ANANDA KRISHNAN

Ananda Krishnan is  the second wealthiest in Southeast Asia behind Robert Kuok, and number 82 in the world. He born in Brickfields in 1938 and studied at Vivekananda Tamil School and furthered his studies at Victoria Institution. Later, as a Colombo Plan scholar, he attended the University of Melbourne, Australia for his B.A. (Honours) degree majoring in political science. During that time he boarded in the Melbourne suburb of Hawthorn. Following that, Krishnan obtained Masters in Business Administration from Harvard Business School.

In 1990 he involved in business by began building a multimedia empire that now includes two telecommunication companies that is Maxis communication and MEASAT Broadcast Networks Systems and SES World Skies. He also the owner of ASTRO tv channel.

WHY I CHOOSE THIS ENTREPUNER?

I choose this entrepreneur because I believe they have something special in their self. They come from a different background and all of them came from a normal level family and some of them come from poor family like Tan Sri Syed Mokhtar Al-Bukhary. I believe they are very motivated and they do not easy despair. Besides that, they are always look forward and looks a problem as opportunities to their to making a business. So for me,their personality and successful makes me motivated to be entrepuner because they also a person like me before their successful but which their skills, passion, motivated, and experience can put their in a Malaysia top rich ranking. So for me they are very good person to be followed because for me nothing is impossible.