AFT 1013

FUNDAMENTAL OF
ENTREPRENEURSHIP
SEMESTER SEPTEMBER
SESI 2018/2019

Entrepreneur Talk

NAME : Lee Ning Jia

LECTURE/TUTORIAL GROUP : L2
NAME OF LECTURER : DR. SATHISWARAN A/L UTHAMAPUTHRAN
DATE OF SUBMISSION :17-12-2018
Report of Entrepreneur Talk
The Entrepreneur talk based on the talk of ‘SYARAHAN PERDANA UNIVERSITI
MALAYSIA KELANTAN’ by Professor TAN SRI DATO' PADUKA DR. FNG AH SENG.
The title of the talk was ‘The Application of "The Law of Leverage" in Achieving All Our
Goals in Life’. Before I start do the report of Entrepreneur talk, let me introduce Professor
TAN SRI DATO' PADUKA DR. FNG AH SENG.

Professor TAN SRI DATO' PADUKA DR. FNG AH SENG is a founder and
chairman of Epic Valley Holding Group. He also is a founder of National Unity Charity
Foundation. Tan Sri extraordinary and unique credentials can be reflected in 12 areas which
are civil engineer to house developer, unique entrepreneur, an academic with the highest
qualification PHD and DBA, university professor and honorary Dean, international scholar,
ultimate adventure, ex-military officer, a great philanthropist, leadership book author,
conferment of the highest title as a Malaysian citizen, a lifetime of achievement awards and
attainment of social status.

The first things that I learn from Entrepreneur talk is the way of borrow resources
from other people and the law of leverage. Dr Fng has share his theory of borrow resources
which are borrow other people money (OPM), borrow other people talent (OPT), borrow
other people knowledge (OPK), borrow other people power (OPP), borrow other people stage
platform (OPS), borrow other people blueprint (OPB) and more. We have to be polite and
honest when we borrow other people resources in order to be successful in every aspect.
Good attitude can give good impression to the people who have resources and they will be
willing to borrow us the resources they have. The Law of Leverage indicate a method of
financing an investment by which an investor pays only a small percentage of the purchase
price in cash, with the balance supplemented by borrowed funds, in order to generate a
greater rate of return than would be produced by paying primarily cash for the investment. Dr
Fng said that our resources have limit so we have to borrow resources from other people. The
more of resources we borrow from other people, the easier we success our goal. The benefit
of applying the Law of Leverage are reduces the duration of time to success, magnifying the
impact result of a goal, multitasking multi goal process, risk management and improve self-
confident.

Besides that, the things I learn from the Entrepreneur talk is prepare to take
opportunity that given by other people. According to Dr Fng, we should grab the chance that
given by others. He mentions his theory which is borrow other people stage platform (OPS),
we must be proactive to take opportunity whether it was a small opportunity or big
opportunity. Do not calculative the opportunity whether it is a big or small opportunity. This
is because often powerful and resources people will let you to perform in small opportunity
first. Then they will trust the people who can perform well in small opportunity and will give
big opportunity for the people they trust. The people who was calculative the opportunity will
not be able in success in their life. We should not shy to accept opportunity that given by
other people. Dr Fng say that he gives a chance to his employee to promote him as a general
manager, but the employee thinks that he does not have the ability to become general
manager. After three years, the employee thinks that he had the capability to take the place of
general manager. Dr Fng say that the employee had wasted his time to take the opportunity
because he was too shy to admit his ability. We also have to appreciate to the people who
gives us the opportunity. Without the opportunity, we hard to have success in our life.

The next lesson I learn from the Entrepreneur talk is having a goal in order to success.
Based on the talk, 99% of youngster do not have a goal to achieve. We must set a goal so that
we have an aim to achieve something. After setting a goal, we have to gain suitable
knowledge to achieve the goal. For example, our goal is becoming a success entrepreneur. In
order to realising our goal to become a success entrepreneur, we must learn the knowledge
for business such as marketing strategy, operation management, financial plan and more. We
also need to set the goal that is realistic so that we can achieve it. An unrealistic goal is
consider as dreaming because you have no ability to achieve it. Having a goal can improve
yourself and have aim to achieve something.

The resources that can help me to start a business is to borrow other people money. In
order to start a business, we need many moneys to buy the equipment or material that use in
the business. I did not have such many moneys to start a business. So I have to borrow money
from bank, friend, parents or relative to have enough money to start a business. I will not
borrow the money from the person that do illegal things. But I will return the money to the
person that borrow me money in time. If I did not return money in the right time, they will
not help me again.

Besides that, the resources that can help me to start a business is to borrow other
people plan. It is important that have a consultant to come out together draw up a plan. I have
to draft a plan that I could be achievable. This is because an unrealistic plan can let yourself
fail in a business. I can draft the business plan and show my business plan to my lecturer so
he can give me advice to improve the business plan. With the business plan that been check
by consultant will increase the probability for me to be successful in my business that I
created based on the plan.

Moreover, the resources that can help me to start a business is to borrow other people
talent. I have to seek other people help when I cannot perform in something. For example, I
do not know how to do accounting for the business, so I have to seek help from other people
who have the talent of doing accounting. To start a business, I must find people to help me
manage the business together. I need to find a partner that have different talent with me.
Bringing a partner that have different talent with yourself so that your business can be
success.

Finally, the resources that can help me to start a business is to borrow other people
experience. I can use the experience of success people in business to become my reference to
start a business. For example, I can take the idea of doing promotion that have been done by a
success entrepreneur so I can promote my product effectively. Taking other people business
experience can prevent making unnecessary mistakes. I also can ask for the opinion of the
success entrepreneur before I start a business.

In the nutshell, I have learned a lot of element of success in business from Dr Fng.
The secret of success is having knowledge, must have action to achieve our goal and do not
give up when face problem. I will make sure I will implant the theory of borrow resources so
I can success in my business.