Category: Entrepreneurship

The Person Who Had A Positive Impact on My Life

Share a story about someone who had a positive impact on your life.

Without even realizing it, my late father imparted three invaluable lessons that significantly influenced my life.

During my early teenage years, I would accompany my father, a simple government clerk, to television repair shops. It was there he would obtain the TV circuit diagrams, and then fix the TVs single-handedly. Our backyard was filled with TVs lined up for repair – a sight I’ll never forget. I was never certain whether this was a part-time job for him or a personal hobby.

His ability to fix these TVs without any formal education in the field left me in awe.

Inadvertently, he gave me three essential lessons that have had a profound effect on my life:

Autodidacticism: There are many areas where formal education, like college or university, can impart knowledge. But there are also instances where we must seek out knowledge ourselves and become independent learners.

Overcoming Obstacles: If you put your entire heart and soul into something, it can be achieved. Yes, there will always be hurdles in your path, but persistence will eventually lead you to your destination. You’ll never know the realm of possibilities unless you try.

Inspiring Others: Unbeknownst to my late father, he was a constant source of inspiration to me. Imagine the impact we could have if we intentionally aimed to inspire others?

What about you? Who gives you a positive impact in your life?

An Entrepreneur – The Last Career

What is your career plan?

In 1984, I began my career as a lecturer at Universiti Teknologi Malaysia, which was also my alma mater. However, upon completing my PhD, I made the decision to change paths and transitioned to the field of telecommunications. In 1994, I joined Celcom, a prominent telecommunication company.

At Celcom, I initially served as the Manager of Research and Development, and over the course of the next 13 years, I progressed to become a Vice President, overseeing various divisions within the company.

Following my tenure at Celcom, I embarked on a new phase of my career as the Wireless Communications Cluster Director at Mimos. In this role, I was responsible for conducting research and development in wireless technology, focusing on areas such as IPv6, WiMAX, and ultimately, the Internet of Things (IoT).

In 2015, I made the decision to join another telecommunications company with the objective of assisting them in establishing a new subsidiary known as Redtone IoT.

Subsequently, I ventured into full-time entrepreneurship, establishing my own startup named Favoriot. This marked the final phase of my professional journey, as I had reached the age of 60. My aim now is to retire after successfully building a company that I can take pride in.

The full details about me can be found here.

Navigating the Entrepreneurial Journey with Limited Funds

You may be in a difficult situation as an aspiring entrepreneur with all the skills but limited funds. I’ve been there before and want to share some advice based on my experiences. The journey may be challenging, but with perseverance and self-belief, you can find a way to achieve your dreams.

Joining a Startup

One of the options I considered when I faced a similar predicament was joining a startup – either as a co-founder or an employee. Leveraging your entrepreneurial skill set, you can become a valuable asset to any company, and you should be confident in your ability to negotiate a fair compensation package for yourself.

If possible, try to find a job in the industry where you’re aspiring to launch a startup in the future. The exposure, learning, and experience you’ll gain will greatly benefit your future endeavors. Along the way, you’ll also have the opportunity to make some money, which can help you bootstrap your startup later. Plus, you’ll meet potential investors and build a network that can be invaluable when it’s time to raise funds for your venture.

Alternative Funding Options

If you’re determined to dive straight into entrepreneurship, consider exploring alternative funding options. You can raise funds from friends and family, find a co-founder who’s willing to invest in your idea (although they may want a significant stake in the company), or approach venture capitalist firms for funding. Each of these options has its own challenges, so be prepared to navigate them as you pursue your entrepreneurial dreams.

Conclusion

No matter which path you choose, I wish you the best of luck on your entrepreneurial journey. Remember, it’s all about perseverance and believing in yourself. You’ve got this, and with the right mindset and determination, you’ll find a way to overcome the financial hurdles and make your vision a reality.