Entrepreneur refer to one who create a new concern in the face of hazard and uncertainness for the intent of accomplishing net income and growing by placing chance and gather necessary resources to capitalise them. It is non easy to go a successful enterpriser as it required a batch of accomplishment, cognition and experience to determine them to go a successful enterpriser. An enterpriser should hold passion on what he or she making, willing to scarify their clip to make a batch of difficult work for their concern, responsible, confident and able to confront the hazard and uncertainness.
In this assignment, I will finish the Personal Entrepreneurial Strategy exercising which is design to assist us to understand our ain entrepreneurial scheme. This exercises helps me to garner informations, evaluates the informations and trade a personal entrepreneurial scheme.
Part I: Profile of the Past
There are many things can give me energy. First, learn scheduling. I enjoy the minute when I coding, it make me insight and think of different manner to work out the scheduling job. Although I am non talented in scheduling, but it is great to patterns and larn it. The felicity and satisfaction that I get after work outing a scheduling job motivated me to go on on larning scheduling. The following things that give me energy are eating. I enjoy every minute when I eating. I would wish to seek out all the different nutrient from different state and after seeking on the peculiar dish, I will believe is at that place any topographic point that serve the same nutrient and gustatory sensation great than this?
And this ever motivated me to seek for delightful nutrient and the procedure of hungering the nutrient fulfill me. Besides that, I like to listen to music and sing. I like to analyze and understand the words of the vocal because some vocal can convey positive message to us. When I feel stress, singing is one of the ways to loosen up myself because it is like transportation all the negative emotion out and after singing I will experience good. Last, watching film gave me energy. Others that make fulling the leisure clip and relaxing, watching film do me brainstorm excessively. I feel I will derive something after watching a meaningful film since some films truly conveying positive value and of import lesson to us.
There are things that take away my energy. First at all, I think is traffic congestion. I enjoy driving but do non like traffic jam. I think it is blowing my cherished clip and it made me experience dying. I can pass my clip making a batch of meaningful things in one hr instead than stuck in the traffic jam. Besides that, sometime noisy environment make me experience disquieted. I need a silent atmosphere when I am making my work for case, coding. I need high concentration when I making my work particularly those plants that required a batch of brainstorming and excessively noisy environment will do me lost focal point. Last, bad be aftering took away my energy. I do non like to hold excessively pack agenda, it was excessively rushing and do me experience emphasis. For case, travels with travel bureau ever dissatisfy me because the agenda is to pack and hotfoot particularly during vacation.
For things that give me energy, I would give the highest rank to listen to music and vocalizing. Besides that, feeding will be my 2nd pick. Following, coding satisfied me and fulfilled my craved on programming cognition. Last, watching film is the last beginnings that give me energy. While for the things that take away my energy, noisy environment have the highest rank because I truly need high degree of dressed ore with making my work. The followers will be traffic jam and in conclusion will be the bad planning.
In 20 to 30 old ages, I hope I can bask my life with a healthy organic structure, travel around the universe, have a fixed income at least RM7000 per month, working clip flexible, have a batch of fillip and vacation. What attracted me about this ideal being is the freedom and flexible work hours with the high income, and I can pass clip to bask my life with my beloved friend and household and what drive me is my current ability and cognition are non plenty and non qualified to make that province yet.
If I involved myself in an entrepreneurship, I think I would come in to concern who related to Information Technology and Information System because that is my profession. Others than that, I besides wish to come in to the concern related to nutrient and drink, banking and fiscal, adviser services, telecommunication, and music industry. While for the concern I do non wish to come in are insurance, building, manufactured and production, media, publishing house and medical.
Harmonizing to the thought coevals guide above, the common property of the concern that would excite me to come in is: –
High net income border.
We do concern for net income, imagine we spend high cost on the set up the concern but end up we earn low net income, the low return on investing is an illustration of unsuccessful concern.
Government policy is really of import for a company carry out their concern. I will come in to the concern that is legitimate for certain, and non jump to particular regulations and ordinance of the authorities. For case, I will non come in to the concern that required high revenue enhancement.
I would come in to the concern that has limited liability because I am non the hazard taker and if the company faced trouble and has debts that it can non pay, I will non be held responsible for those debts.
I would wish to come in to the concern that can transport out societal duty because I think it is of import to do contribute to the societal. There is a sentence in Mandarin & A ; acirc ; ˆ?From the society and for the society & A ; acirc ; ˆA? which means that we should retrieve to give back what we have taken from the society. Besides that, societal duty will assist to a concern to derive good repute.
First entry to the market
If can be the first market entrant will be a great chance because there are no rival yet, and we can gain the net income for awhile. However, there will be the market follower for certain and that is why the uninterrupted betterment is really of import for a concern.
I will more prefer to come in to the concern which environmental friendly, that is why I will non wish to involved in manufactured industry because it more tend to do pollution. Although erstwhile it can non be avoided but we should seek out best to protect our environment.
All concern exists because there is a demand. We fulfil client demand, make value to them and we earn net income from them. If we merely merely get down a concern without any market research, the opportunities of failure are high.
Low hazard and high return
I am non a hazard taker, therefore I will non come in to those concern which involves highly high investing. All the hazard must be calculated before invested and in concern position, we ever find a manner to cut cost and addition high net income.
I will affect myself in concern that uses Information engineering and Information System to help the concern. This is because I am a profession on IT and IS, and I know how of import and efficient it can assist the concern.
I will involvement to come in to concern which is stable such as bank. Stable in growing for a concern is ideal because it will non hold utmost figure. The net income addition in incrementally or stay consistent are more preferred comparison to those concern which addition net income enormously and after the extremum, lost enormously.
I would non wish to get down my ain concern someday because it required a batch of engagement and long hours of difficult work. Besides that, the concern is wholly responsible by me and I am the 1 who undertake all the hazard and lost. Furthermore, going a foreman will faced high degree of emphasis from stakeholder. However, if I involved in an entrepreneurship in the hereafter, I wish to have a moderate-sized company, which have the moderate growing rate per twelvemonth and have about 55 to 60 hours of workload hebdomadal. In the concern position, location of the concern is of import as it can impact the net income gained of the concern. Besides that, the demographic or population of the country are besides of import because for case, it is impossible we set up our concern in the center of wood.
There is merely a demand when there are people. For the life style, I wish non to hold matrimony in the coming 10 old ages because I like freedom and I know it clearly how of import is commitment and that is why I wish to hold to the full prepare and program sagely for everything earlier decided to make anything. I am willing to go off from place up to half old ages because I think travel around can run into more people, learn from others and derive some experience from expertness around the universe. For the criterion of life, I wish I can be rich if I start up my ain concern. Last, in my enterpriser journey, involvement and passion are really of import for me, because with involvement and passion, we can make anything to accomplish our end and persist with it. In short, I will non get down my ain concern easy since it required a batch of engagement and bare all the hazard unless I truly passionate on that field and the concern can fulfill me and do me experience happy.
I have less on the job experience. In the past, I work for my tuition instructor, assist her Teachs primary school pupil and steer them on their prep. From this occupation, I learnt to be forbearance because I have to cover with childs. Besides, I had work for my friend & A ; acirc ; ˆ™s aunt in The Mines book carnival during the school vacation. It is 11 yearss event and start from 9 am until 10pm. Once reach the exhibition hall, we need to put up the booth, do all the readying and moves all the books from the stock room to our booth and arrange it decently. I remember it was really tired because fundamentally I need stand for long hours and besides walk around to administer the circular. I was selling the educational book from Dong Zong published, therefore I meet a batch of parents with their kid came for purchasing book.
What challenges me was some parent asked me to present some book that suited for their kids. I have to retrieve all the book series and their monetary value. Basically my occupation range is merely selling the book, cod money, take the books from stock room and stock numeration. In this occupation, I gained experience on managed stock, count, record, update the stock degree. Besides, I learnt some accomplishment on merchandising and promote. That clip I work portion clip occupation because I want to gain some excess pocket money for amusement such as watching film, karaoke and shopping.
I am non active in athletics activities but what I will non bury is I was involved myself in pes drill. I am a commanding officer of pes drill squad at Red Crescent Society in secondary school. It was a great experience and likely it is a most memorable minute in my past secondary school life. I am proud to be the commanding officer of the squad and able to take my member to fall in competition. From pes drill, it trained me go more responsible and it shaped me to go a relentless individual as I do non give up easy on everything, and I besides learnt how to go a leader.
Besides that, It made me understand how of import are team work, because in pes drill, it need corporate from all members. Other than commanding officer, I am one of the commission in Chinese linguistic communication society. Basically, I merely help my president in be aftering all the hebdomadal activity and event such as Chinese New Year jubilation ceremonial, Mid-Autumn jubilation hebdomad and so on. In short, from these activities I participated, I learnt to be good leader, holding a good attitude, working in squad and confident with what I do. Besides, I besides learnt be aftering and pass on accomplishment and the most of import I learnt to be responsible to our undertaking or occupation given.
The things I like the most for being start a concern is I can being my ain foreman and lead people. Besides, I can do any determination related to my concern without consideration or treatment with concern spouse. While, what I like least for get downing a concern is the demand of high engagement and faced with high hazard. It is clip devouring, and fatigued to carry on a concern and as a foreman, I need to confront all the challenges and set about the hazard.
On the other side, what I like the most work for a big company is I can acquire high income and more considerable inducement and fillip. While, the ground I do non wish to work for a big company is the low personal development. Large company can develop me good but in the terminal I may be merely an ordinary employee in the company because there are high competitions among employee in order to acquire higher place. Besides, there are ever communicating spread between sections in large company. It is obvious for the gross revenues and production section.
In short, from my personal history, I think leading, teamwork and positive attitudes will be my entrepreneurial strength while my entrepreneurial failing will be deficiency of experience and low fiscal support.
Entrepreneur that I admire and inspired me is the main executive officer of Phison Electronic Corporation, Mr. Pua Khein Seng. He born on 15 June 1974, at sekinchan, Malaysia. He been educated in Malaysia until 1993, he set off to Taiwan and he managed to acquire his unmarried man award major in electrical control technology at Chiao Tung University, Taiwan. He was program to endorse to Malaysia and working at here, nevertheless, he has been offered master plan by Chiao Tung University and after graduating from this maestro plan, he start to work. In November 2000, he with his ex-course couples set up a company named Phison Electronic Corporation which concentrating on the Universal Serial Bus ( USB ) engineering. At that minute, he is 27 old ages old and he is confident that the USB market will be immense in the universe. However, he does non cognize anything about marketing and merchandising, therefore they sought spouse who help them administer their merchandises. They managed to sell the thought to Toshiba and Toshiba assist them administer their thought in the Earth market. After one twelvemonth, Toshiba has become the largest discoverer in pen thrust industry.
I am admired him because I can see some positive traits from him. Mr. Pua province that enterpriser should hold positive thought in a positive mode. I am agreed with him as I am able to place this from him. Besides that, he is independent, confident and hardworking. Importantly, he is non fuss. He said being an enterpriser can be counted or sensitive to figures but non niggle. Sometimes, concern has to lose in order to additions something more valued. I most salutation for his attitude. He ever thinks positive even when he faced a batch of challenges. For illustration, he was sued by his senior when he set up his ain company and forced to counterbalance RM4500 1000s. During that clip, his company merely get down up and they have non much fiscal support. In such state of affairs, he still maintain positive minded and ne’er give up. His attitudes inspired me and promote me to remain positive and be persists in life.
Part II: Profile of the Present
Refer to attachment
In the facet of personal committedness and finding, I am discipline as I ever do what I should make and finish my undertaking on clip. Furthermore, I am willing to give my clip to make what I should finish and immersed into it. We have to pay to the full attending on what we making in order to accomplish win. For the chance compulsion, I think I have knowledge on client & A ; acirc ; ˆ™s needs as I like to obverse things around me. I have thought what clients need and I will better or heighten the services to make value to client. Following, I am tolerance of emphasis. Basically, I faced emphasis everyday and I am able to stand with it. When we do what we should to and seek our best to make it, emphasis will gone. Therefore, emphasis really is merely a job that created by ourselves. When we solve the job, there will non be emphasis. I am able to pull off the struggle and that is why I am ever a go-between among my friend.
Furthermore, I am non conventional in believing. I ever open minded and willing to accept any different sentiment from others. With unfastened minded, I am easy adapted to new environment and new things. I ever motivate myself when finishing my undertaking. For me, the procedure is more of import than the end because every procedure we can larn something new. Besides that, I am cognizant with my strength and failing. As an enterpriser, holding position is of import because it help us to be after our concern, what we are suppose to make to accomplish our end or carry through the client needs. I am decidedly has sense of wit as I can see I am ever bring joy to my friend. Last, I am responsible and dependable.
For the enterpriser weaknesses, I think as an enterpriser, determination devising accomplishment is of import because it involved determination doing every twenty-four hours and the determination ever can impact the concern. I am non a good determination shaper as I ever unable to do a determination. I am indecisive and ever waver when doing determination. Besides, I am non a hazard taker. I will seek to understate all the hazard in my concern and I am non willing to make or put anything that holding high hazard because I fear of failure. Furthermore, I am easy satisfied. I ever feel I am satisfied with position quo and I think this is the failing because enterpriser should non easy satisfy with what they have in order to derive more betterment. Last, I am non patience to everything. It is depend on the worthiness. For case, I persist on making practises for my topic or coding even I unable to work out the job because it is deserving and I can larn from the practise, but it is impossible for me to be forbearance when I stuck in traffic jam because it is nonmeaningful and I gain nil from that other than blowing my clip.
Refer to attachment
In short, I should develop myself to be more forbearance and larn to be a deliberate hazard taker. Furthermore, it is of import for me to be more decisive. I should seek to be courageous and confident to do determination. Besides, I need to set more attempt on the finance country by make more research about finance and larn how to pull off accounting and fiscal resource. Following, I will better myself on the operation or production possibly by working experience. Last, I am weak in jurisprudence. I plan to read more jurisprudence book and seek to research on some jurisprudence issues as legal and jurisprudence is rather of import for concern.
Part IV: Puting It All Together
Entrepreneurial and I is non related so far because I am non prepared good to affect in entrepreneurship. I may hold some traits that enterpriser should hold, but for me, entrepreneurship is non merely about these physical things, it related to others factor such as the environment, location, concern spouse, clocking, market tendency, concern scheme, capital and so on. Those demands of entrepreneurship for case willing to forfeits and commitment tantrum with my motive. I would wish to be a individual who fulfils all the demand of being an enterpriser but it non means that I want to make a concern. As a reference above, there are a batch of external factors that will act upon entrepreneurial activity. Get down up a concern demand capital and therefore it is obstruction for me. I will complete my survey, travel to work to derive experience and salvage money foremost after that I merely will see to get down up my ain concern.
Besides, comparing myself to those successful enterprisers and my concern hero, I still non qualified to go an enterpriser. They have a batch of experience, and they are so persist and positive thought. Relatively, I still need put more attempt to do myself more perfect before become an enterpriser. In future, if I want to establish or get a venture, I think I need to understand what the concern is about, all the inside informations of the concern such as the background, the fiscal position of the concern, client scope, the growing rate of the concern, concern scheme and so on. It is of import to cognize all the information in inside informations before we get a concern. This appraisal made me more understand myself and cognize what my strength and failing in different country. Besides, it made me see over and over once more whether I should get down up my concern in the hereafter.
Part V: Thinking Ahead
By the clip when I am 70, I hope I can be rich and still hold fixed income every month. I may have a company but I do non desire to pull off myself. Besides, I hope I am healthy and pass my clip with my household. I hope I can lend to society by holding a charity foundation that helps child or olds that demand my aid. Following, I wish I still able to go around the universe at least two times in a twelvemonth. Lastly, I hope to bask anything in my life and non repent to what I had done in the old old ages. In the following four old ages, I hope I have monthly income at least RM3500 per month and salvaging at least RM 200 per month.
Besides, I hope I can larn different linguistic communication and learn to play guitar. If I merely have one twelvemonth to populate, I will go on make whatever I am making every bit long as I am still populating. Other than that, I think I will make short term invest, if earn money than I can hold more money to bask my life, but if lost, is all right because money is non that of import since I merely have one twelvemonth to populate. I will pass excess clip to bask my life, travel with love one and compose missive to everyone that I care about to explicate clearly why I am leave. Last, I will make anything that I want to make and most of import is be happy.
My short term end will be graduated from college and acquire a occupation related to information system. Now, I will concentrate on my survey foremost, and likely I will prosecute my survey at foreign county in the hereafter. After working for few old ages, if I prepared good and there is an chance, I may get down up my concern. At the same clip, I wish I meet my psyche mate. It is of import to hold a individual that can growing with you and back up you. For the obstructions to make ends, I think it will be deficiency of experience and psychological non ready for entrepreneurship yet. Besides, holding a good attitude besides of import because it decided who we are and where we go and what can we accomplish. What I can make to get the better of those obstructions will be develop myself more confident, derive more experience from others and insist on my end.