Conclusion

It is not easy to be a successful entrepreneur. High passions and not easily give up is one of the keys to be a successful entrepreneur. Jeff Bezos once said that ‘One of the huge mistakes people make is that they try to force an interest on themselves. You do not choose your passions. Your passions choose you’. Thomas Edison also said that ‘Many of life’s failures are people who did not realize how close they were to success when they gave up’.

            There are many benefits to be an entrepreneur such as it will give a huge amount of freedom. Besides, to be an entrepreneur can be very exciting because it will be filled with new opportunities to challenge their determination, skills and abilities. This can bring a convenience to peoples who have a great innovations and creativity.

But there are also have challenges in an entrepreneur world. To be an entrepreneur requires dedicating a huge amount of time. To be successful they have to take a level of time commitment that many people are not willing to make. An entrepreneur need to spend much of their times, energy and money in the process of entrepreneurship. And of course an entrepreneur needs to know that this type of venture does not guarantee 100% success.

            So, there are certain entrepreneurial traits to make them adhere to success in their entrepreneurship way. There are some entrepreneur traits that we have been discussed. There are included persuasion, self-confidence, work commitment, efficiency oriented, tolerance for failure, high initiative level, information seeking and problem solving. We also shown an examples of successful entrepreneurs as the learning models for every traits such as Datuk Seri Dr.Hasmiza Othman, Dato’ Haji Ramly Bin Mokni, Datuk Wan Mohammad Sani Salleh, Tuan Haji Mohd Tamin, Tan Sri Mokhzani Mahathir, Dato’ Shukri Aliff Kamarzaman, Tan Sri SM Nasimuddin and Tan Sri Dato’ Sri Dr.Tony Fernandes.

Biography of ONE SUCCESSFUL entrepreneur

Tony Fernandes is the founder of Tune Air Sdn Bhd. His full name is Anthony Francis Fernandes. He was born in Kuala Lumpur on 30 April 1964. He was born in a family of mixed Portuguese Goa (India) and Portuguese Malacca. His father named Dr. Stephen Edward Fernandes and his mother named Ena Dorothy Fernandez. When he still young, he follow his mother to sell Tupperware at Tupperware parties. He has received education at The Alice Smith School in Kuala Lumpur. In 1977 when he at age 12 he studied at Epsom College which is boarding school in England until year of 1983. After that, he further his studies at London School of Economics and finally successfully completed his studied with a degree in accounting. 

Before he becomes an entrepreneur, he was an auditor at Virgin Atlantic, then in 1987 to 1989 he becoming the financial controller for Richard Branson’s Virgin Records in London. Tony Fernandes also was a former executive at Warmer Music Malaysia. From 1992 to 2001, he was regional vice president of Southeast Asia for Warner Music Group. When Time Warner Inc., announced to merge their company with American Online Inc., Fernandes has decided to leave the company to pursue his dream which is to set up an Asia’s first low cost airline. 

In 2001, Tony Fernandes has become one of the entrepreneur who introduced the first budget no-frills airline, AirAsia in Malaysia with the tagline “Now everyone can fly”. Based on the advised given by Tun Dr. Mahathir Mohamad which is former of Prime Minister of Malaysia, Fernandes had purchased existing airline instead that he starting from scratch. After received an advised from Tun Dr. Mahathir Mohamad, Tony make decision by bought Air Asia from Malaysia government-owned company in September 2001. Even though that company is heavily indebted, he are willing to mortgage his home and used his personal saving to buy Air Asia.

            One of the entrepreneur trait is self-confident. Tony Fernandes was to mortgage his home and used his personal saving to buy Air Asia. Even though he knew that the company is heavily indebted, he still make decision to buy that company after listen an advice that give from Tun Dr. Mahathir to  buy an existing airline instead he starting from beginning. By mortgage his home and used his personal saving, he finally able to get the company which are comprising two Boeing 737-300 jet aircraft and debts of US$11million (RM 40 million). His action causing people to say that it is not worthwhile actions and they also predict that the company will go bankrupt. However, after one year he take over the company, he managed to repay all the debt of AirAsia and his business is expand rapidly. In less than 3 years, AirAsia are able to increase of two Boeing 737-300 to 30 and now AirAsia manage to operate more than 100 domestic and international flight every day. 

            Next of the entrepreneur traits is high initiative level. This traits we can see on Tony Fernandes when he decides to introduced the first budget no-frills airlines in Malaysia with the tagline “Now everyone can fly”. He the first one that introduced the flight with low fares to all over the world. Air Asia successful to made a name all over the world because Tony Fernandes adopt effective cost management system. Tony Fernandes is very strict when it comes to cost management because he want to make sure that they are able to provide budget airline services to the people. Besides that, other cost such as operating costs and daily costs also need to be managed at a lower cost as well. Salary of pilot is the one of the cost that are very highest that must be spent by the airlines. But Air Asia managed to pay pilot’s salary with low rates compared to other competitor airlines. This is because, Air Asia is the one that offer employment opportunities to the pilot that are have been fired by others airlines. Even though the remuneration package are not attractive, the pilots need to accept the salary that are offer to them since there are desperate to find a work.

            Next of the entrepreneur trait is problem solving. Tony Fernandes knows how to solve the problem that occur in his company. One of the problem that occur in this company is when their always received a complaint from customers about their services. Most of the complaint were about flight delay that cause dissatisfaction of passengers who are using AirAsia. To resolve the problem, AirAsia already take step to improve the quality of their services and reduce the flight delays. Besides that, on the recent year, has been a misunderstanding between one of the cabin crew and passenger. This problem arise when one of the passenger demand apologised to a disabled child from the cabin crew her mother complained of being insulted. However, the cabin crew only offer help after seeing a child is not feeling well, but her mother misunderstood the question that ask by cabin crew. This issue have make people angry and began to collect names for a petition to forced Skytrax to drop AirAsia nomination because they failed to defend the right of his crew. To resolve the issue, Tony Fernandes, he travelled to Hatyai, Thailand to meet cabin crew’s parent to apologize. Tony also issued a statement expressing regret and acknowledges their responsibility and assured this problem would not occur again.

            Besides, Tony Fernandes also known as someone that very persuasive because in AirAsia, their management philosophy is that they want people to pursue their passion and he himself proved that everyone can pursue their dreams and passion. He said that when he was 14 years-old, he already know what he wanted which is an airlines, football club and F1 team and now he already achieved all three things that he dreams. He have an airline which is AirAsia, he own a football club which is Queens Park Ranger Football Club and F1 team which is Caterham F1.

            The last entrepreneur trait is efficiency oriented. When Tony Fernandes and Dato Kamarudin started the AirAsia airline, he came with a different management philosophy. He wanted to build a family company, a company where other people would be treated as a family. He makes AirAsia different than the traditional hierarchal Asian population. AirAsia is a company that have no hierarchy and people can approach their boss or whoever they wanted. Tony Fernandes makes AirAsia workspace is an open plan workspace where nobody has rooms so that the workers can walk up to him anytime they wanted. Besides, he believed that AirAsia do not need to go through layers of bureaucracy. He make sure that everybody has his contact number so people from errand boys to the senior management will contact him directly when have problems so that the problems can solved very quickly. 

h) Problem Solving

According to the Merriam-Webster's Learner's Dictionary, problem- solving is the process or act of finding a solution to a problem. Entrepreneurs who want to succeed must be able to solve the problem by finding and producing new ideas or innovative problem solving. They also need to create alternative strategies that are more efficient and better to achieve business goals like Tan Sri Dato 'Sri Dr. Tony Fernandes.

Tan Sri Dato 'Sri Dr. Tony Fernandes

            Tan Sri Dato 'Sri Dr. Tony Fernandes was born in Kuala Lumpur, Malaysia. He is an ethnic mix of Portuguese Goa Melaka. He is director of Air Asia Berhad and founder of Tune Group Sdn Bhd. He was a respected and highly regarded individual in the present, a deck for his wisdom in establishing a low-cost airline to Malaysians. He also became known for his successful airline Air Asia which previously had to be a famous company. Next, founder of the "Tune Air Sdn Bhd," it also has to take calculated risks when deciding to take over a debt-ridden company with the large numbers through its Tune Air Sdn Bhd. However, he also has managed to overcome all these problems and until now, after taking over the company, Air Asia has not only managed to record and won numerous awards, but has been able to compete fiercely with the airlines which others include Malaysia Airlines Berhad.

            Tony Fernandes ability to resolve the debt load the company should serve as a catalyst for a new generation of entrepreneurs to gain a foothold on this day. In 2001, the company Air Asia at a time when it is only worth as low as RM1.00, but also saddled with debts of RM40 million, to fly to a destination, carrying 250,000 passengers a year, has only two vessels Used aircraft Boeing 737-300 and has a workforce of 250 people. But after nine years, Tony Fernandes has been transformed by creating a resounding success where AirAsia when it was valued at nearly RM4 billion, recorded a profit of RM549 million, is able to fly directly through more than 130 routes to 70 destinations worldwide world, flown over 20 million passengers a year, has over 85 Airbus A320 and A330, and currently has approximately more than 8,000 workers from Malaysia, Thailand, and Indonesia. Tony Fernandes has become a success because of his ability to problem solving.

g) Information Seeking

According to the Merriam-Webster's Learner's Dictionary, information seeking is defined as knowledge that you get about someone or something and also facts or details about a subject. The latest information, clear and precise is the source for entrepreneurs to act quickly. An entrepreneur should seek more useful accurate information to be a success. To get the latest information, accurate and clear, the entrepreneur must have the intelligence network of internal and external networks for their business in obtaining information and using the information properly and effectively. Information is an important resource for individual growth and survival. The late Tan Sri SM Nasimuddin is one of entrepreneur that has this trait.

Tan Sri SM Nasimuddin SM Amin

        Founder and Chairman of the Naza Group, Tan Sri SM Nasimuddin SM Amin was the Managing Director of the Naza Group which was established in 1979. He was involved in various businesses such as motor business, hotel, agriculture, engineering, transport services, tools machinery, manufacturing and so on. Nasimuddin, who was born in 1955, has always been interested in cars and automobile industry. He studied at Sekolah Menengah Tuanku Muhammad, Kuala Pilah, Negeri Sembilan.

            In 1974, he keeps RM80, 000 in the bank account of salary as an assistant to his father who works as a contractor. He started his automobile business with the provisions of the Approved Permits (APs) to import foreign-made cars. He earned his first million ringgit results within a year. At the age of 21 years, at a cost of RM80, 000, Nasimuddin buy 20 AP then to Japan, where he spent three months and brought back the first 20 units of used Japanese cars were sold out within three months. He had to face several challenges, including financing and how to gain the confidence of to buy cars and used cars when many Malaysians are less interested the foreign car.

            Starting with just selling imported used cars from Japan, he then partnered with foreign companies and ultimately sell locally made cars under its own brand is one example of the characteristics of entrepreneurs who have been his use of the information or research. By way of this survey can enhance the experience, improve performance, and led business. In addition, to become a successful entrepreneur, he has used market research and analysis for the market.

f) High Initiative Level

A High initiative level according to the Merriam-Webster's Learner's Dictionary is the power or opportunity to do something before others do or the energy and desire that is needed to do. It means that the person is a self-starter that he can start projects independently, or perhaps he is active looking for solutions beyond the minimum required. This person can probably motivate others to come on board with a project .One of the entrepreneurs  that show high initiative level is the founder of cosmetics, D'Healthy Herbs Sdn. Bhd. , Dato’ Aliff Syukri Kamarzaman.

Dato 'Shukri Aliff Kamarzaman 

            Dato 'Shukri Aliff Kamarzaman  was born on April 3, 1987, at Felda Kechau, Kuala Lipis, Pahang. He is the father of 3 children and husband to Datin Nur Shahida Mohd Rashid. In addition, Dato 'Shukri Aliff also the second son of the founder of cosmetic products Sendayu Tinggi, Rozita Ibrahim. He got the title Dato 'as young as 23 years old. Natural schooling begins in Teluk Gadong, Klang. He was later admitted to the school in Pasir Growing cottage, Kelantan for studying religion at the age of 14 to 16 years. After his mother managed to become entrepreneurs, he was admitted to a private school integration-Syakirin in Section 13, Shah Alam. During that time, they moved to Subang Jaya, Selangor until form 5 and then continue their studies in Taylor's College.

            Returning to his business activities, D'Herbs has opened a factory named Aliff Herbs Manufacturing Sdn Bhd in which the plant has been devoted to manufacturing health and beauty products. He also has used the tagline 'overshoot demand' and has been well received by consumers and society impressive.  Dato 'Shukri Aliff bin Kamarzaman has shown his own initiative to start his own business. He formerly was also a considerable social and have gained awareness to not be on the same notch.

            As a successful young entrepreneur, Dato 'Shukri Aliff also exhibit characteristics of an entrepreneur that has the initiative in doing something. These characteristics exhibited by Dato 'Shukri Aliff when he wants to get paid to create their own products. Although he was reviled and papers made by him are not accepted and approved by the bank, it does not mean he will be desperate to get capital. With high initiative spirit was in him, he can convince partners and customers in providing capital in his business. The capital investment made and as a result, the company D'Herbs to the extent that boasts today.

e) Tolerance for Failure

According to the Merriam-Webster's Learner's Dictionary, tolerance is the willingness to accept feelings, habits, or beliefs that are different from your own and failure is defined as the omission of occurrence or performance; specifically, like  a failing to perform a duty or expected action. An effective entrepreneur is a people who quite realistic when they face the trouble. They don’t give up or depress when they fail. As one of the successful entrepreneur, Tan Sri Mokhzani, will not be able to escape the risk of failure in business. For an entrepreneur who is motivated and open-minded, he would consider the failure encountered in business is a challenge to continue to thrive and succeed in the business which has been pursued.

Tan Sri Mokhzani Mahathir

            Tan Sri Mokhzani Mahathir is the son of former Prime Minister Tun Mahathir Mohamad fourth. He was born in January 1961 and is currently 54 years old who have gas and oil business. The wealth he now reached US $ 1.2 billion in 2014 and now in 2016 it should exceed the total value of such property earlier. He is married and has five children.

            Tan Sri Mokhzani himself once through difficult times when he runs his business. He received his failure as a positive thing in which he considers his failure to learn from mistakes and to renew ideas in developing his business. Tan Sri Mokhzani as CEO Kencana Petroleum Berhad, had experienced ups and downs in the corporate world before joining Kencana Petroleum in 2001. He failed to regain control of 12.6 percent of shares in Tongkah Holdings and 32.9 percent in Pantai Holdings during the financial crisis in 1997. However, it never took away him in the stream local corporate world. In the event that the financial crisis deepened, he decided to quit his job as assistant treasurer of UMNO Youth Malaysia reason to concentrate its business affected by the financial crisis.

            But after the crisis, he was fortunate to have discovered by Chong Hin Loon, founder of Kencana Petroleum and was now an adviser and Deputy Chairman of the Executive Kencana Petroleum that was trying to find partners. Chong Hin Loon meeting with Tan Sri Mokhzani the already versed in the affairs of petroleum products engineering really bring good luck to Kencana Petroleum. Since Tan Sri Mokhzani joins the company,it is growing and meets the aspirations of its founding. Tolerance for failure is one trait that makes him success today.

d) Efficiency Oriented

Efficiency signifies a level of performance that describes a process that uses the lowest amount of inputs to produce the greatest amounts of outputs. Efficiency can be determined by using ratio of useful output to total input. An efficiency oriented entrepreneur can minimizes the amount of wasted inputs such as energy and time. According to Premji (2006), efficiency is defined as how well you are using what you are using. Generally, an efficiency oriented entrepreneur focus in make to produce high output by using less amount of input.

            Tuan Haji Mohd. Tamin is an example of entrepreneur who are efficiency oriented. In year 1951, Tuan Haji Mohd. Tamin managed to find the ingredients to produce Ketchup TAMIN. In the early, Ketchup TAMIN has been marketed in a small scale production in Batu Gajah, perak. Tuan Haji Mohd. Tamin started his business with RM10 only as the capitol but with the high spirit, determination and the abilities to manage efficiently, he managed to produce about 700 bottles of ketchup a day with the help of his family members.

            Even with a small production capacity, he did not overlooked the cleanliness, quality and the taste of the sauce. The process of selecting and mixing the ingredients was carefully done to ensure and guaranteed the quality of the soy sauce. After a year, the demand for Ketchup TAMIN exceeded the expectations. The ketchup was firstly been recognised among the housewives and the village community. Young people who migrated from the village bring the ketchup to the cities and indirectly introduce these soy sauce to the city’s population.

            In order to meet the demand, Tuan Haji Mohd. Tamin taken a measures to increase the production to 3, 500 bottles per day. The growing of demand has prompted him to expand his business by setting up more factory, increase the workers and increase the ketchup production. Today, Ketchup TAMIN available throughout Peninsular Malaysia. Other than that, TAMIN also was known as soy sauce with high quality. The commitment and the efficiency in the production and input makes TAMIN can expand the market in the United Kingdom.