The makings of an entrepreneur

The makings of an entrepreneur

FERUNI Ceramiche Sdn Bhd’s founder and managing director Datuk CC Ngei has put in a lot of effort into transforming the company, and the tiling industry at large, over the last seven years.

Ngei advocated a value-driven company, built a vibrant and dynamic workspace, changed the way the company acquired its talent and launched a Tiling Academy among other things.

He wanted to change people’s perception of the tiling industry; it was not just a labour-intensive, dirty and stagnant industry.

It can also be vibrant, fun and professional, says Ngei.

But the transformation of a company or an industry starts from an entrepreneur.

According to Ngei, there are 10 things that enable an entrepreneur to succeed and flourish in his or her business.

Solutions versus profit

Entrepreneurs should prioritise finding ways to solve the problems of others over finding ways to make money.

Ngei says people are looking to businesses for solutions that add value to them.

“They will be willing to spend on your products and services if you can find them the solution that can ease their worries and make them happy.

“If you’re thinking about how to make millions, nobody is going to buy your idea,” he says.

Have the right purpose

A purpose guides a company’s stakeholders and shareholders towards its corporate goals. Having the right purpose would naturally draw more talent and business to the company.

Feruni, says Ngei, is guided by its purpose to deliver happiness and the company has benefited from this.

“I believe that your company will grow if you have the right purpose, which is to do things that benefit the community and your employees,” he points out.

Make money the right way

Success comes from a lot of hard work, dedication and commitment. The same goes for making money.

Ngei opines that companies shouldn’t take shortcuts to make a quick buck.

“When we rebranded Feruni seven years ago, we made sure to weed out all the unhealthy activities that could easily bring in instant sales.

“We are making money through honesty, transparency and integrity,” he reveals.

Build a team

A company’s success is also determined by a dynamic team.

Feruni has put in place a hiring process that allows them to get to know potential candidates better and vice versa.

Among the programmes under its hiring process include the Feruni Tour, culture assessment, personal value analysis and strength finding assessment.

The objective of the various assessments is to match the right people to the right jobs so that they will be happy to do what they do.

Think about your staff

Talent development is an important aspect of the company as talent is a company’s biggest asset.

“We need to invest time and money to help them grow and be leaders in their own right.

“Encourage them to go beyond their comfort zone, sharpen their talents and strengths, and boost their confidence so that they can achieve their full potential,” Ngei explains.

Have the right values

Core values act as the guiding principle that dictates the employees’ behaviour and company’s decisions and actions.

“A business based on values can succeed and be impactful in the long run. We can use the right way to grow the business and move to the next level,” he says.

Plus, Ngei notes that these values can be shared with the customers, partners and suppliers, making a positive impact not just within the company but throughout the ecosystem.

Provide leadership

“As a leader, you are a role model to your team. Inspire them to grow. And respect and praise them for a job well done,” he says.

Ngei explains that company leaders need to be able to communicate their goals, thoughts, ideas and vision clearly and effectively to their employees to ensure that everyone is on the same page and no one is left behind in the progress of the company.

Ngei adds that company leaders need to break out of the traditional leader mentality where employees are expected to merely follow instructions.

At Feruni, employees are encouraged to make their own decisions to cultivate leadership qualities, he says.

Have a balanced scorecard

Ngei measures the success of his company through talent development, industry transformation, values and its impact on the community.

“If feels great when you see your staff growing positively and you are able to uplift the standards and change the landscape of the industry. Seeing your team serve the community also makes everything more meaningful than just earning money,” he observes.

Expand your vision

While most entrepreneurs start small, Ngei urges them to think and dream bigger.

“Just because they are small doesn’t mean they cannot seize the opportunity to expand their businesses.

“The company needs to continue growing so that they can help more people with their solutions and continue inspiring and impacting the community,” he comments.

Have a balanced life

Life does not revolve around work.

“We need to live our lives abundantly. Don’t let your business or the need for huge profits consume your life. Define your priorities. Make time for family and yourself. Exercise and maintain a healthy well-being.

“Oour business and career are only one part of our lives,” Ngei advises.

JESSIE LIM 

Source: TheStar.com


Read more at http://www.thestar.com.my/metro/smebiz/people/2017/05/29/the-makings-of-an-entrepreneur/#bVPihHu55oRZdWia.99 

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