Koon Yew Yin's Blog
Engineers should be more business minded - Koon Yew Yin
Koon Yew Yin
Publish date: Sun, 04 Apr 2021, 10:25 AM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
There are about 1,100 public listed companies in Malaysia and a large number of them are managed by engineers but less than 2% of them are financially controlled by engineers.
Almost all the larger properties in every town and cities belong to entrepreneurs who are not engineers. Most of them do not have a tertiary education. Nevertheless, all these properties could not be constructed without engineers’ contribution.
Unfortunately, engineers dare not take the risk to become entrepreneurs to make more money. They are quite happy to accept monthly salaries. They think their engineering degrees and diplomas are like having free meal tickets for life.
I am a Chartered Civil Engineer and after practising my profession for only a few years, I became a fairly successful entrepreneur. Based on my experience, I am writing this piece for the benefit of engineers.
Here are a few reasons why engineers can be great entrepreneurs:
1. Engineers Can Solve Problems
The engineering field is filled with people who are trained to solve problems. New businesses erupt when there is a need to bring something into the market that is missing. Filling a void is perfect for someone who is capable of defining a problem. Engineers are trained to think logically and to follow a methodology to uncover useful solutions. This is how engineering bring value to consumers. This is the basis of a successful business.
2. Engineers Are Optimistic
The world can be a very pessimistic place, especially since the economy is not always in a thriving position. People tend to be sceptical when it comes to starting something new and undiscovered. Engineering courses teach people to persist in the face of difficulty. An engineer always thinks positively and will persevere until a problem is solved. Even though it may take time, an engineer will find an answer. This is a key part of beginning a business. An entrepreneur must never give up and must continue to move forward in the face of adversity. A person's mindset and approach can mean the difference between success and failure.
3. Engineers Can Build Trust
The business world is filled with ruthless people. Many times, a business owner will lie to the public in order to get ahead. Instead of dealing with mistruths and being led down the wrong path, an engineer will tell the truth in a blunt manner. This candour establishes trust with consumers. In this fashion, people with a background in engineering will have a positive influence on the business environment. Trust is a quality that is not easy to establish, but an engineer should have little problem.
4. Engineers have humility and a yearning for knowledge
The typical salesman must be strong with convictions. This makes this person low on humility. Having doubts or being unsure about something is viewed as a weakness. On the other hand, an engineer tends to have great humility. An engineer understands that no one holds all of the answers. In the same way, an engineer is always willing to search for a solution to a problem, even one in the business world. When a person is not afraid to learn and gain more knowledge, growth will occur. Growing is a key factor involved with developing a solid business. Being an entrepreneur means constantly striving to uncover the most amount of knowledge possible. After a new product or service is developed, an engineer must identify the best target market. Not every item will be a runaway success. When something is not working, it is important not to be afraid to stop and make changes. Since an engineer may lack experience in marketing, there may need to be a process of trial and error. However, the great attitude of an engineer will not be curbed by the need to alter a business plan and move on. Not every entrepreneur has a background in engineering, but it certainly can be a positive influence. An engineer will possess the necessary characteristics that make a new business successful. An engineer knows how to solve problems, will stay positive, can build customer trust, and will never stop learning new things. The business world is tough, but with these traits, a person is sure to succeed.
Do engineering and entrepreneurship go hand in hand?
Entrepreneurship has been one of the most talked about and sought-after career paths and has been glamorized in the recent years by young billionaires like Zuckerberg and Musk.
Engineering and entrepreneurship at first seem like very different paths without natural crossovers, but looking closely, you find that engineering and entrepreneurship share many of the same skills. In fact, many great entrepreneurs and business leaders do in fact have education and training in engineering. Bill Gates, Michael Bloomberg and Carlos Slim are just a few of the famous entrepreneurs who all started their careers in Engineering.
That was how my collegemates namely Yap Lim Sen, Koh Boon Chor, Wong Leong Thean and Looi Kam Pak founded listed companies such as Mudajaya, Gamuda, IGB, Rubberex, and MBM Resources. We also founded many unlisted companies.
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Discussions
2 people like this. Showing 34 of 34 comments
the only engineer with business entrepreneurship in MY I respect is Mr Ong Koon Ann, managing director of Oka Corporation Bhd.
very low profile and don't scam people too.
2021-04-04 10:58
ACTUALLY ENGINEER OWN MORE THAN 10% OF LISTED COMPANY in klse, NOT 2% MENTIONED BY KYY....HE IS WRONG here LOH!
2021-04-04 11:00
Haha,
Humility.
Engineer seek the truth and how many listed companies in Bursa are run by crooks who can tell lies straight to your face.
So no thanks. Engineer are better off doing what they like and enjoying.
2021-04-04 11:01
sslee,
since u r near retirement age...it is time for u go into business & entrepreneurship, raider will definitely invest in your company when listed loh!!
Be a late bloomer mah!
Posted by Sslee > Apr 4, 2021 11:01 AM | Report Abuse
Haha,
Humility.
Engineer seek the truth and how many listed companies in Bursa are run by crooks who can tell lies straight to your face.
So no thanks. Engineer are better off doing what they like and enjoying.
2021-04-04 11:05
Not true lah...!!
Engineers are more straights than the rest except doctors loh!!
I think due to their training mah!
Posted by investkaki > Apr 4, 2021 11:43 AM | Report Abuse
in a certain country where the govt and business environment are full of corruptions, you have to wonder what it takes for the individual to succeed. If you ask your friends where are the best places to makan, get drunk, serves you the best women, you wont be surprised the engineers are the only ones with all the answers. So lets not be naive on over rated articles.
2021-04-04 11:46
stockraider....every successful engineer will have to go thru the 'acid test" which is exposed to sub contractors, suppliers, govt officials who are masters of the chain. The environment is such
2021-04-04 11:56
In a way true loh!!
This bcos they are transforming from being an engineer towards a business entrepreneur mah...!!
In that case....all professional will go thru same process mah!
What raider is saying the initial engineer graduate is less crooked compare say lawyer or a marketing graduate loh!
Posted by investkaki > Apr 4, 2021 11:56 AM | Report Abuse
stockraider....every successful engineer will have to go thru the 'acid test" which is exposed to sub contractors, suppliers, govt officials who are masters of the chain. The environment is such
2021-04-04 12:03
stockraider...tks for your sporting reply, thumbs up to your healthy reply
2021-04-04 12:23
Your point raise are very fair & rational loh!
Posted by investkaki > Apr 4, 2021 12:23 PM | Report Abuse
stockraider...tks for your sporting reply, thumbs up to your healthy reply
2021-04-04 12:25
@Pee Wee, PLC for business stand for Private Limited Company? But for Electronic/Technocrat Engineers shall mean Programmable Logic Controller? Experience Engineers with proper business exposure shall make a good business man. Engineers are usually trained to be very analytical with logic, and in real world to be more cost conscious. Only my 2 sen..Happy trading
2021-04-04 12:52
It's truth.
Engineers need to deal with contractors, suppliers and government agency. Hence many are tempted with free invitation from contractor and supplier to the best place for eating, drnking and women.
And in return they have to bring the government people to the best place for eating, drinking and women.
What a wonderful life as engineer.
2021-04-04 13:32
Haha,
The best career is still as engineer you got to enjoy both indoor and outdoor activities.
2021-04-04 13:58
Although this old man brought me to Holland for his tips on MNRB, I would like to give big thump up for the above write up.
2021-04-04 14:12
Koon now enjoying his expansive fine wine with pineapple.
He should write more on the many benefits as engineer so that more will be inspired to read engineering.
2021-04-04 14:18
Anyone tried making wine from any tropical fruits yet? Apart from coconut of course.
Yep pineapple could be a good idea.
2021-04-04 14:57
But there are many others with potential I reckon. Like nangka, durian kampong (soursop aka graviola), rambutan, langsat/duku/dokong, mango, even banana or durian.
2021-04-04 15:01
Posted by Sslee > Apr 4, 2021 1:58 PM | Report Abuse
The best career is still as engineer you got to enjoy both indoor and outdoor activities.
*******
I would be inclined to agree with that. Besides, you'll still be able to continue indulging in your penchant for some maths & physics in your life. Plus also chemistry, if you do chemical engineering.
2021-04-04 15:05
Koon Yew Yin says Engineers should be more business minded - , for example like himself ,when come to politics ,he became so naive.
2021-04-04 17:20
Every body can be a good investor
Provided they know how/ when/ what
Strategy and capital to be applied.
With sector knowledge lagi best.
Investment never any single profession privilege lah,
The main point to decide a good return from investing always the self improving and the mindset.
Narrowing mindset comfirm will fail one.
2021-04-04 17:25
As engineer you have the opportunity to undergo oversea further training by the company, Attend oversea trade and mechinery exibition, attend to oversea customer complaint, involve in oversea projects and etc.
2021-04-04 17:53
Don't talk Engineers as so great... feel we r more like beggars n get humiliated all the times even hawkers control prices better than us. The rubbish bem n iem only know how to milk money from their own breeds n barely do shit to improve the value of engineers. Those committee members r brainless without realising the hardships out there they only feel proud sitting at the top when ppl pat n call them engineers.. Pui
2021-04-04 21:01
Most of the companies mentioned above is run by crooks. You need a dishonest engineers to run a construction company. Just tell the truth kyy. I m in the construction industry.
2021-04-04 21:53
Every screws & nuts contributes and functioning an unique roles,
Builders always sensitive to construction costs and deliver
Engineer provides the designed structural to fit best for the architecture needs.
Hardworking with an open mindset do & inspire my investment path...
No one spare from losses, on their investment journey lah !
Increase the probability by Win Big Lost Small , means is good lah !
2021-04-05 00:37
If, i would start a biz; i would love to learn from a survival.
In contrary , when your enterprise has growth into a bigger corporate, need to hire those profession to provide them with competitively income ; make sure they can perform at the rite workplace environment.
2021-04-05 00:40
This old fox is talking rotten eggs again, majority graduates ultimate dream is to start their own business but problem us they got no capitals. They got no choice , they have to find a job first to survive, then save money for paid up capitals. Unfortunately 90% could not save enough till retired, don't forget in between their lives, they will be conned by Macau scam,internet scam,get rich scam, I3 bogus sifu n tips !!!!!!!!
2021-04-05 10:18
Some professions, by nature of work, responsibilities and duties alone, are more straightforward - particularly in the science stream. However, when taking into the account of "work environment" (wider scope than "work alone") - dealing with various institutions and people, then the way the work is carried out might change. This also depends on the policies, procedures and processes involved, which could vary from one to another.
Since we are humans - not robots, our level of critical thinking, background, upbringing, psychology, emotion, natural inclination and exposures (apart from educational level or profession we are in) play important roles in decision making.
Two professionals (e.g., engineers) might be given the same set of data, however when they interpret it, they might come to different conclusions or decisions (despite of the fact they have the same rules or procedures to follow).
Look at doctors - assume 2 doctors were trained in the same university and work in the same hospital - with the same rules to follow. However, when they are given a case study of a patient with particular symptoms, they might come to different decisions, opinions, views, solutions and recommendations (though they might also come to a same decision) despite following the same procedures.
Depending on the nature and situation a person is facing, a professional (engineer, doctor, accountant, marketing agent, chemist, etc.) might wish to stick to his own line of work, or might want to explore further by being more business minded. Even businessmen themselves- some are more business minded, some are less in that. Some are more straightforward, some are less. We are all different.....
2021-04-05 11:11
Not all engineers want to be businessmen n reverse is true. Definitely okay as long as they are happy with what they are doing. Not just trying EVERY TRICKS to be rich but not happy.
2021-04-05 15:07
Any recommendation which stock to buy based on this article? Construction?
2021-04-12 09:31
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WHY NOT ENGINEERS LEH ??
AN ENGINEER IS BASICALLY MATHEMATICAL IT IS STRAIGHTFORWARD.....THAT IS THE STRENGTH OF AI MAH!
Posted by Pee Wee > Apr 4, 2021 10:48 AM | Report Abuse
Basically every other proffesionals will be replaced by AI except engineers! Engineering is future proof! In near future lawyers, accoutants even general doctors will find themselves jobless as AI can easily take over their jobs but not engineers!
2021-04-04 10:56