Sunday, January 10, 2010

Francis Yeoh on "how to become successful entrepreneurs"

Q: What is your advice to young Malaysians who aspire to become successful entrepreneurs in this era of booming information technology and borderless world? – Benson Ting, KL

A: To be successful in any given moment, the fundamentals have to be right. I always say, master the three languages first. The language of God – integrity and long term perspectives; the language of Man – ability to articulate a vision and inspire confidence; and the language of Machine – ability to innovate with technology and skill-sets.

Once the DNA is correct, excel in what you are good at. Then be smart in coming up with cool products and services that people actually need or want, like the iPod or Facebook. Why force onto the market what no one wants? By all means, capitalise on the Internet. Use it wisely to brand and accelerate the exposure of what you could offer, especially in Asia. But make sure you deliver – on time! Finally, timing! Be ready to work your socks off to build a solid business. Quick fixes do not get anyone far. Just look at the mess in the global economy today.

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