For many, starting a business is a dream, yet the pathway to entrepreneurship often feels daunting and overwhelming. With countless resources available, aspiring entrepreneurs remain unsure of where to begin. Whether it be uncertainties, overwhelming or financial concerns, sometimes the way out of this might be simpler than you think. It’s just that you may not have figured out what really works. So, what makes them be where they are today?
1) They embrace the uncertainties
One of the most common hurdles that a lot of entrepreneurs face is the fear of the unknown. The future can seem daunting, filled with unpredictable challenges and risks. However, this fear often arises when we spend too much of our time overthinking it. For successful entrepreneurs, they recognize that uncertainty is a natural part of the journey. They also know that they need to face risks and any challenges ahead. Preparing themselves mentally like this helps in cultivating a mindset that prevents fear from holding them back.
2) They practice the right leadership
Entrepreneurs lead by staying true to their values and beliefs. They understand that strong leadership comes from being guided by a personal moral compass, which helps them make confident decisions and stay focused on their goals. Anthony Tan, CEO of Grab, practices servant leadership, which he found powerful, according to what is reported by Salt&Light. Recently, he even went on the ground by himself to see how customers are reacting to the Grab driver app in real time. This approach of being actively involved demonstrates that he leads as an example.
3) They take small steps
Many entrepreneurs succeed because they take small, consistent steps that lead to their achievements. They understand that starting a business involves learning many aspects, but they don’t let the feeling of overwhelm consume them. Instead, they break down larger tasks into manageable actions.
By doing this consistently, they make steady progress, leading to remarkable results. A great example is Khairul Aming, who faced multiple failures early on but persevered to become one of Malaysia’s most inspiring entrepreneurs. Starting with simple cooking recipe videos, he built a brand around his name and achieved success.
4) They see market gaps
Before starting out a new business, aspiring entrepreneurs often see demands that are not fully satisfied. When they started to see this trend, it naturally sparked a need to fill in the market gap. From this, it allows them to develop products or services that cater to the demand of the customers.
For instance, Vivy Yusof, the founder of modest fashion brands Duck and Lilit, recognized the growing demand for modest fashion. She initially started by writing a blog about her life, thoughts, and interests in fashion, which ultimately paved the way for her significant role as a businesswoman in the modest fashion industry.
5) They know how to be unique
In business, standing out is essential for winning over competitors. Entrepreneurs have the natural ability to think outside the box. This helps them develop one-of-a-kind solutions that others might overlook and meet demands. Constantly improving their offerings helps them to be more unique as they keep on adapting to the changing market.
For instance, myBurgerLab aims to craft burgers that offer customers unique and fresh flavors. Drawing inspiration from renowned burger chains like Shake Shack (US), In-N-Out (US), and Grill’d (Australia), they’ve developed their own distinctive creations. Their menu sets itself apart from typical burger joints with innovative offerings, including the Nasi Lemak Burger, Salted Egg Yolk Burger, and Peanut Butter & Jelly Cheeseburger. The names of their menu items are also creative and playful, such as “Ayam Kau Hijau,” which is inspired by the popular Malaysian catchphrase “mak kau hijau.”
Conclusions
The journey of successful Malaysian entrepreneurs provides valuable lessons for those who are starting a business. By embracing challenges, leading effectively, taking small steps, spotting market opportunities, and standing out, these entrepreneurs have paved their way to success. To embark on this business journey, it needs the focus and the right attitude, which help overcome challenges and turn your dreams into reality. Every successful entrepreneur began with just one step away.
