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Risks of Being Woman Entrepreneur

Owning a business can be lucrative. However, one should be aware of the potential risks involved.

Uncertainty of Income
Setting up the business does not provide any guarantee that an entrepreneur will be able to earn sufficient money to survive. In reality, women entrepreneur that hardly earn enough money to provide themselves with an adequate income. The steady income obtained by working with someone is absent. Moreover the owner be the last person to be paid after paying the salaries of her staff.

Long Hours and Hard Work
Setting up a business would require a lot of time, money and effort to search for a strategic location, obtain licenses, purchases machines, find a new suppliers and hire and train new workers. Besides, they would have to work six or seven days a week with no paid leave and does not have the opportunity to take a vocation.

High Stress Level
Setting up a business can be very rewarding but it can also be very stressful. They are also entrepreneurs who burden themselves with a long list of duties as they are unable to delegate authority and responsibility to others in the company even though their employees are capable of performing the duties.

Discouragement
Setting up a business requires a great deal of dedication and discipline. Along the way, many entrepreneurs face obstacles. Many entrepreneurs would feel discouraged in continuing their business. A successful entrepreneur would realize that every business faces difficulty times and they would need to cope with a lot of hard work and by thinking optimistically.



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Famously known as the Iron Lady of Malaysia, Datuk Maznah Hamid is a very well known entrepreneurs, business women as well as a famous motivational author and speaker. She is the country's role model, admired and respected as a successful entrepreneurs, as well as a symbol of female power.

A few decades ago, Datuk Maznah decided to buy an almost bankrupt unknown security company and turned into a multi-million, respectable empire. During the early days, she employed a few guards, with herself being jack of all trades in the small outfit-clerk, secretary, manager, and sometimes the guard herself! And in order to expand the business, she and her husband sold their own house and moved to a new, smaller place which comes without proper amenities.

With only a few thousand ringgit as their capital, her company had to compete with hundreds of their licensed security companies in Malaysia, with many of them being established businesses with up to millions of ringgit in capital. Against all odds, the company she built survived and triumphed.

The company, Securiforce,is now one of the biggest security companies in Malaysia, having more than 30 branches across Malaysia and employing more than 4000 employees. And all of this is achieved without financial help or capital from financial institutions.

Alongside with other prominent Malaysia business icons, Datuk Maznah become one of the entrepreneurs who built and grew companies and played important roles as a leader and strategist while contributing to the overall growth and improvement of the society's life in Malaysia. She had received numerous awards for her distinguished and outstanding achievements.

Datuk Maznah also established Maznah Motivational Centre (MMC) which conducts seminars on business and huma development. Her book "Motivasi Memburu Kejayaan" is a bestseller and has become the source of guidance to aspiring entrepreneurs who wish to learn from her experince, principles and secrets in her quest to achieve success and excellence. https://www.instagram.com/maznah_hamid


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The competencies that she have;

Opportunity seeker
Securiforce provides a complete and total security package, pioneering the concept of 'total security'.

More Pragmatic/ action-oriented
She established securiforce 35 years ago, and now the company has become the largest the security provider in Malaysia and rising over more than a hundred other competitive companies of a similar nature even from an unknown entity.

Innovation/ seeking to improve
The services are not only limited to static guard but also to logistic, cash-in-transit, cash management, high tech cargo management, armoured trucking service, as well as numerous other services. 

Tactfulness
Securiforce Group has also expanded their services to our valued customer by offering a Global Logistics and Supply Chain Services with the establishment of Securiforce Logistic which the headquarters in Kuala Lumpur and operating their owned oversea offices in Singapore, Thailand, Indonesia, Vietnam, China, Hong Kong, Korea and Turkey.

Good Interpersonal Skill-Independent
The most incredible and interesting part in Datuk Wira Dr. Maznah's success story is that all her companies were established and progressively growing without any aid from the banking institutions. This has gained her much admiration and respect from peers as well as competitors. Her philosophy of success and achievement can be seen in her belief that "the main capital in business is yourself".






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Beauty
Entrepreneurial competencies refer to key characteristics possessed by successful entrepreneurs in performing entrepreneurs in performing entrepreneurial function effectively. Entrepreneurial competencies can be observed from the entrepreneur's attitude, internal life values, or his insistence to perform with excellence.

Thus, the definition of competence entrepreneurs that the presence of suitable attitudes might lead to the adoption of good practices. In other words, individuals who show positive attitudes towards the creation of new venture and who have the required knowledge and skills are able to deploy the necessary competencies to face the challenges and uncertainties involved in a business start-up and early growth stage.

There are many competencies that are related to entrepreneurship;


Seize Opportunities
A successful women entrepreneurs grabs or seizes opportunities continuously to make sure that her business sustains for a long time in the industry. She focuses, identifies, and exploits new business opportunities. In effort to seek and grab opportunities, she maximizes her thinking capacity by finding solutions to problems faced by the community. She increases her knowledge by getting ideas form employees, customers and competitors, reading on related matters and identifying her skills, capabilities and self-potential.

Efficient
A successful women entrepreneur is oriented towards efficiency and is always finding ways to produce products at lower cost or within a shorter time period. When a new idea emerges, she always takes into consideration the calculation of costs and profits. She uses business information and management methods to improve her efficiency in business, which would help decrease wastage and costs. This helps the entrepreneur to achieve success in her venture.

Power and Authority
A successful women entrepreneur is also a leader. As a leader, she is able to influence his staff and the industry that she involved in to make sure she achieves her vision. The five aspects of influence that should be taken into consideration are influence based on total control; influence based on the power to impose penalty; influence based on the power to give reward; influence based on the power of expertise and influence based on the power to shows good examples. These aspects to have authority over her customers, staff, and the industry that she is involved in.

Assertion 
A successful women entrepreneur is assertion in her actions. She is brave to give ideas or opinions to people and to take action even when she has to face defiance from others.

Creative Problem Solving
A successful women entrepreneur has the capability of solving problems in terms of searching for smart steps to solve those problems as well as looking and thinking of innovative new ideas or creative problem-solving methods. Every entrepreneur faces many uncertainties that might cause problems to the business. Problems must be solved creatively.

Self-Confidence
A successful women is a person who has great confidence in her skills and capabilities. Besides, who has confidence in herself believes in his skills and capabilities to achieve what she desires. She tends to be optimistic about her chances of success. She also reads a l lot and gains experience in subjects outside his specialization and does not have the fear of failure.

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Beauty
An interesting feature of Malaysian economic history has something to relate to the current context of entrepreneurship in Malaysia. Entrepreneurship existed in Malaysia ever since the state of Malacca started interacting with foreign traders. However, when the British colonized the Malay Peninsular, they changed the structure of the society and practiced the 'divide and rule' system in which the Malays dominated the agricultural sector; the Chinese focused on trades, becoming shopkeepers and petty traders in the towns and Indians worked in the rubber plantations.

After independence, the Malaysian government realized the importance of entrepreneurship to individuals, society and the country and its contributions to the nation's prosperity. Since then, the government has been focusing on the field of entrepreneurship to this day. The New Economic Policy (NEP) (1971-1990), the National Development Policy (NDP) (1990-2000) and Vision 2020 all encourage and support entrepreneurial development in Malaysia. Moreover, in 1995, the government established the Ministry of Entrepreneurship Development, a specific body to manage and promote the growth of entrepreneurship in Malaysia.

The word 'entrepreneur' was widely used in Malaysia after the implementation of NEP in 1971. As the Malaysian economy transforms from being manufacturing-based to knowledge-based, the kind of businesses entrepreneurs, as well. This gives rise to the need for closer consultation between the private sector, entrepreneurs and the government and its agencies.



References: Entrepreneurship. Third Edition. Sarimah Hanim Aman Shah.

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Rozita Ibrahim




Puan Rozita Ibrahim was born at Sungai Besar, Selangor. However, she was raised up at Felda Palong 7, Gemas, Negeri Sembilan. Rozita Ibrahim was a daughter from a middle-level family. Her father was an ustaz and a  teacher who taught religion studies around the vicinity of Felda while her mother was only a full-time housewife. As the eldest children in her family, he understood very well the burden of her family’s hardship life and poverty her family has to go through. With a strong determination and willpower, she faced it faced on, which taught her to become a matured and strong mind person in experiencing the harsh, real life.
Before becoming a well-known entrepreneur, Rozita Ibrahim had to go through ups and downs and she has been through the ordeal and hardship of being a single mother. Because of her family pressure and a force by her parents, she ended her maiden days in an age that is too young, when she was only a 16 years old teenage girl, with a husband that was choose by her family. In that age, Rozita does not have the opportunity to think about careers. Much of his life in spend with her family while helping her husband with tapping, supplying food and make contract farming on immigrants as well as running a grocery business in Felda Kechau 1, border Cave ferrets. https://www.instagram.com/sendayu_tinggi_online









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Christy Ng


Hers is a true rags-to-riches story. To make extra money during her school days, Christy Ng sold flowers at a local metro station. It was this entrepreneurial spirit that saw her start selling shoes at the tender age of 18 at flea markets in Petaling Jaya. She procured these shoes from a source in Thailand and made a small profit off each one.

In 2012, after two years of working for a Swiss pharmaceutical company, Christy started the website, an online shoe company that specialises in customising women's footwear. And the rest, as they say, is history. The company is profitable and has 12 staff members. https://www.instagram.com/christyngshoes




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Bela Ammara



Bella Ammara is a local brand in which specialized in muslimah apparels such as Baju Kurung,Jubah,Hijab and also Telekung. Belle Yahya, the founder of Bella Ammara started her business by introducing Telekung with variety of colours. She is the first entrepreneur who started to promote fashionable telekung in variety of colours in Malaysia. The brand's vision is to emphasize all Muslims the importance of the prayers lies in the fact that no matter what actions one performs in his life. The nama of Bella Ammara is derived from the combination from French and Persian translation for "Lady with a strong iman". https://www.instagram.com/bellaammara








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Vivy Sofinas Yusof




The founder of Fashion Valet, has a strong passion for reading and writing. Her passion for writing has kept her going, and her blog entails everything form parenting to food, to fashion, and relationships, all pf which are endlessly fascinating due her humurous manner writing.

I currently run Fashion Valet, one of Asia's leading multi-label online sites carrying Asian designer labels, and The dUCK Group, a lifestyle brand of headscarves and stationery.

One of the largest fashion sites in SEA, Fashion Valet is the pioneer multi-label online site stocking over 400 fashion designers and brands from South East Asia. We started our first flagship retail store in Bangar Village, KL and are in the midst of setting up in Singapore and Brunei as next locations. https://www.instagram.com/vivyyusof





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Beauty
In today's competitive world, and based on market economy along with rapid international changes and developments, entrepreneurship is considered as the engine of economical development that can play an important role in the country's economic growth, employment, and social welfare. 

Planned interventions can significantly help the economical development of countries and solve the community’s unemployment problem. Women entrepreneurship has been recognized as an important source of economic development. With visible scarcity of jobs in service sector, more women are entering to small scale businesses in almost every part of the country and helps create new jobs for themselves and for others too. 

For women to grow as entrepreneurs had to face various gender related challenges, difficulty in obtaining initial finance mechanism, communication channels, restricted mobility in marketing products along with technical & non-technical skills like knowledge of latest technology, low level of education provides low level of confidence and self-reliance to women mainly engage in business related activities, which is continuous risk taking in profession requiring strategic decisions making. 

Though the risk tolerance ability of women folk is high today as compared to their male counterparts but still females do lack when it comes to professionalism. Entrepreneurs with high internal locus of control, relative to those low on this trait, will be more likely to try new approaches, pursue new opportunities, initiate change instead of reacting to events, and take risks.






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Beauty
www.erfolgwoman.blogspot.my