The Boss Blueprint: How To Lead, Grow & Thrive In Malaysia
Becoming a boss is a long odyssey that involves dedication, hard work, making mistakes and learning valuable lessons along the way.
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From the waiter taking your order to the CEO giving you orders, there is a reason why everyone calls everybody ‘boss’ here in Malaysia.
Aside from being a super polite cultural habit, it’s also a way of showing someone, even strangers, respect and acknowledging one’s influence and authority.
Could it be that it also reflects our collective ambitions of becoming bosses?
Surveys show that three out of four Malaysians will likely quit their jobs to become business owners. This idea of leaving the workforce resonates strongly with young people, as Millennials and Gen Zs feel they’d have opportunities and be better off as entrepreneurs.
And they’re not wrong, too!
The nation’s economy is built on the blood, sweat, and tears of micro, small and medium-sized enterprises (MSMEs).
These businesses make up 97% of the country’s total number of ventures, contributing close to 40% towards the GDP (gross domestic product) and around 12% of Malaysia’s total exports.
Moreover, MSMEs are also responsible for employing 48% of the total population, thus playing a huge role in creating jobs and fueling the country’s economic growth.
However, the world of business remains as cutthroat as ever, and entrepreneurs are constantly battling various headwinds.
As recently as 2021, nearly 580,000 MSMEs struggled to stay afloat and faced the risk of shutting down for good.
Among the challenges these businesses face include rising operations costs, supply disruptions, and labour shortages.
Despite the struggles, the allure of becoming your own boss remains strong, and many are determined to make a virtue out of necessity and triumph over defeat.
But still, becoming a business boss takes more than just ambition.
For many, it’s a long odyssey that involves dedication, hard work, making mistakes and learning valuable lessons along the way, like;
1. Having a clear plan
Before investing time and money into your business, have a well-thought-out plan that covers all the necessary aspects of the venture. This includes defining goals, understanding the market landscape, having an effective strategy for success, and preparing to overcome any failure.
2. Find mentors
Successful entrepreneurs often rely on mentors to help guide them. Look for people with experience and wisdom who can provide valuable advice and resources to help you get started on the right track. Remember that being a boss doesn’t mean going at it alone. It’s always easier to navigate a path if someone knows the road to guide you.
3. Develop strong management skills
Being a boss requires one to have strong management skills to ensure the success of the venture. Developing your leadership skills will help you better manage certain aspects such as finances, resources and personnel to maximise profits while minimising risks.
4. Build the right team
It’s impossible to do everything on your own. A good boss must have a keen eye on hiring, training and motivating their employees. With labour shortages being a big issue, you also need to respect, appreciate, and leverage the team’s strengths, improve upon their weaknesses, as well as appreciate and reward their efforts in kind.
5. Be open and adaptable
The world of business is constantly changing and evolving. A boss must be able to adapt and be open to new realities, possibilities and challenges, and embrace new experiences to expand one’s horizons. A boss must also be willing to help their employees cope with changes and provide them with the necessary support, tools and resources to keep moving forward towards success.
Being a boss requires knowledge, experience, dedication, and the ability to inspire others. A good boss is not just a leader but also a mentor and a friend who knows how to balance the needs of the business, the team and themselves.
Hennessy X.O has been the symbol of success and a celebration of achievements acquired through perseverance and daring to dream. As the entrepreneurs’ drink of choice, the brand has been a constant companion in empowering Malaysian entrepreneurs on their odyssey to become great bosses.
Hennessy’s ‘Greatness is an Odyssey’ campaign believes in inspiring and nurturing the next generation of leaders, entrepreneurs, and innovators to achieve their full potential.
Catch the video below and celebrate the Hennesy X.O spirit of exploration and creativity embodied by the brand.Â
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