I’ve read this just a few minutes ago and I guess it applies to all businessmen out there whether its for those involved in the traditional area or the high tech ones. The 3 factors outlined by our Malaysian Deputy Prime Minister Datuk Seri Najib Tun Razak are:
1. Mindset – Discipline is very important as we lose focus when other people put down our solutions or ideas.
2. Skill – Upgrade yourself by going for more training that will help your business ie accounting or Online Marketing.
3. A good business plan is important if you want to look for Angel or Venture Capital funding.
The whole excerpt:
Deputy Prime Minister Datuk Seri Najib Tun Razak Tuesday outlined three factors which can be used as a guide by ex-servicemen to succeed in business.
Najib, who is also the Defence Minister, said the ex-servicemen must have the proper mindset, skill and business plan in venturing into a particular business.
"We must have the mindset and culture which form an important asset for us to succeed in this field," he said at the presentation of armed forces veteran entrepreneur awards and the launch of the book "Pahlawan Tanahair" (National Heroes), here.
He said the military training and experience gained while serving in the armed forces could be used as a guide to become a successful entrepreneur upon their retirement.
"For example, whenever there is an order or mission, they have been trained to achieve the mission. They were trained to give focus to their task. Similarly, when they want to become an entrepreneur, they must also have the right focus," he said.
In addition, Najib said that in order to be successful in business, retired soldiers must have entrepreneurial skill which could be acquired through courses and programmes provided by the government.
"The government provides various facilities such as courses and programs through government agencies including the Armed Forces Veteran Affairs Department (JHEV)," he said.
He said a proper business plan was also an important ingredient for success.
"Don't venture into traditional businesses only. Think of a suitable business plan to become a successful entrepreneur," he said.
Najib urged more ex-servicemen to venture into business in line with the government's aspiration to increase the number of successful entrepreneurs under the Ninth Malaysia Plan.
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