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SUCCESS STORY : Lim goh tong

Discussion in 'Lessons from Success/Failure' started by webnetking, Apr 21, 2009.

  1. webnetking
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    webnetking New Contributor

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    Hoping that i can post an inspiration success story of our proud nations billionaire.


    MALAYSIAN Billionaire tycoon Lim Goh Tong has died at the age of 90, following a short illness, leaving an estimated US$4.3 billion (S$6.2 billion) fortune.


    The tycoon handed over the running of an empire with interests in property, power generation, plantations, paper manufacturing and information technology.

    Genting's Hong Kong-listed subsidiary, Star Cruises, is the third-largest cruise operator in the world, while the group also controls Britain's biggest casino operator Stanley Leisure.


    But Tan Sri Lim, one of Malaysia's wealthiest businessmen, is best known for turning Genting Highlands, a hill outcrop just outside the capital Kuala Lumpur, into one of the world's most profitable casino resorts.


    And to his admirers, he was more than just a developer, personifying the clutch of overseas Chinese business entrepreneurs who fled hardship in their homeland to build the corporate empires that played a major role in South-east Asia's economic boom.
    "He is a model of success, starting from scratch, and his achievements came through hard work" said Tan Sri William Cheng, who controls Malaysia's diversified Lion Group of companies.


    Tan Sri Lim, who hailed from China's Fujian province, was forced to leave school at the age of 16, after his father died, and began selling vegetable seeds to support his family.


    In 1937, he left Fujian for what was then British-controlled Malaya, where he dabbled in a host of businesses ranging from selling machinery to building and tin mining.
    Tan Sri Lim, who did not speak English and conversed with Malaysia's political elite in colloquial Malay, came up with the idea of a hilltop resort while working on a hydroelectric project in 1963.


    The development of Genting, whose name in Chinese means "on top of clouds", now attracts more than 18 million visitors a year, but it brought him perilously close to bankruptcy before taking off.


    He was helped by the Malaysian government, which subsidised the building of a road to the resort and awarded him a casino licence.


    But his eventual success was attributed to his entrepreneurial spirit, and he gave an insight into his style in his recent autobiography.


    "The Genting project fitted my idea of an ideal business," he wrote.
    "No one was interested in it, which meant no competition."


    He always used this as his success key

    1. Never make language barrier a limitation to succeed. Lim Goh Tong did not speak or write in English. He spoke Hokkien in his native land China, and after coming to Malaysia, he learned Bahasa Malaysia, Cantonese & Mandarin. But that did not stop him to negotiate one of the biggest business contracts in the country.

    2. Be polite, humble and respectful to others. If you can rub shoulders with tycoons, politicians and high officials, ask yourself, can you get along well too with hawkers and manual workers? Often times, success goes to our heads and we forget where we came from and our hardship seems to be a forgotten past.

    3. When it comes to appointment and meeting, have a habit to be punctual. Better still, come 5 to 10 minutes early. Malaysians have a very weird habit when it comes to appointments, interviews and meeting. Don’t be one. Make punctuality your personal and business principle.
    Do not make excuse to cancel appointments just because the person is not important. Also, a good advice is that, if you want to know if a person will be a good friend and business partner, watch if he arrives on the appointed time when you set a date or meeting. If you are late for job interview when you can be early, know that you will not make a good employee.

    4. Live a disciplined, simple life. Get up early from bed to start your day. You will see prosperity coming your way.

    5. Make effort to carry something that you can write or jot down when you have anything coming to mind. Lim Goh Tong used small notebook. Now you are spoiled with choices when it comes to note taking - PDA, mobile phone, note book and so on. Do not make excuses. Also, organize your day with a diary or personal organizer. Always create a to do list.

    6. Be bold yet cautious (the Chinese say ‘dan da xin xi‘). Try things that have never been done before. Challenge the norm of ways of doing work or job. Be willing to take that risk. A reward is waiting at the end of it.

    7. Believe the power of conviction. If you make a decision and you believe that is a strong one, go ahead with it, no matter what you are up against. Believe in yourself.

    8. Don’t make enemies. Avoid stepping on other people’s toes which is quite a norm in business and corporate world. People who do this will not last long. People who take short cut will have their success short lived. You have witnessed this. People say sometimes this can’t be avoided. That’s a lie. Under all circumstances, stay away from it.

    9. If you build a successful business and organization, always believe that the most valuable asset of a company is its people. It is the people that make up the organization. It is the people that run the organization. It is the people that makes things happen.

    10. If you don’t have benefit and exposure to modern management, never doubt you can run a company as big as Microsoft. Good education is essential, but lack of education and training is never a barrier to become a boss to the smartest people on the planet.

    11. Employ a person or make business with a person when you trust him or her. If you do not trust them; don’t employ and don’t make business with them.

    12. Do good to others; you will be rewarded somehow. Learn to give first, and receive later.

    13. Prepare for personality makeover. If you are shy and quiet (like Lim Goh Tong when he was 20s), learn to be articulate and more extrovert. Banish the shyness and the inferiority complex. Otherwise, you will not get that job, or awarded that business contract. If you are rude, learn to be polite.

    14. Be grateful for what you have. Life has been kind to us. Hence we should treasure our life and make it a meaningful one. Drive yourself harder and become more committed to work.
     
    yveskleinsky likes this.
  2. jassep
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    jassep New Contributor Read Millionaire Fastlane

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    Fantastic story. Having been to the Genting Highlands, it took a person with real vision to see its potential.

    Thank you,
    Jason
     

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