He Quanping, 72, executive chairman of Rongshu Group.
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Entrepreneurship is not for the faint of heart, and many risk-takers have one trait in common: confidence.
That’s according to hotel tycoon Ho Kwon Ping, 72, the founder and executive chairman. Banyan Tree Groupis a hospitality company with approximately 80 resorts and hotels in 22 countries.
The company is listed on the Singapore Exchange and had revenue of approximately S$328 million (approximately US$240 million) in 2017. 2023.
Mr. Ho is also the Executive Chairman of the Food and Beverage Manufacturing Business Taihua listed company and Founding Chairman of Singapore Management University.
He attributes part of his success to his youthful willfulness.
“Willfulness and confidence are related. If you are not willful to some extent… then you basically become a risk-averse person,” He told CNBC Success. “If you want to be an entrepreneur, you need to be a little willful. You also need to be a little confident.”
“Know where the lines are”
But there’s a fine line between confidence and arrogance, and while the former is important for starting and running a business, the latter can be “a recipe for disaster,” He warns.
“My wife says I’m the most optimistic person she knows because I fail at everything but I still pick myself up and keep going, so you need confidence. But if you have too much confidence, it’s It’s going to get really bad.
Create your own great PR, but never believe a word of it.
He Quanping
Founder and Executive Chairman of Rongshu Group
He explained that a common pitfall of hubris is that it can lead a company or founder to “overextend” or take more risks than they should, but in business, the situation is not always favorable.
As an entrepreneur, “you always have to be prepared for the worst-case scenario because no one is going to help you when things go bad,” he added. He said people should not think about how much money they can make when starting a new project or business, but how much they can afford to lose.
“Never be arrogant enough to think you are great,” he said. “A saying I use is…create your own fantastic PR, but never believe a word of it.”
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