Charting his own path

Rich Dad Poor Dad. This international bestseller on financial literacy, investments and the principles of running a business sparked 19-year-old student Dhanabal Rakesh’s interest to become an entrepreneur.

He was also inspired by other books such as Think and Grow Rich.

Apart from reading self-help books on entrepreneurship, Mr Rakesh has enrolled in the seven-month Diploma in Management Studies at Management Development Institute of Singapore (MDIS).

The full-time student shares more about the course and his plans.

What are your favourite modules of the diploma?

The Principles of Marketing module taught me to compare various business portfolios, and about strategic planning models to analyse an enterprise’s strengths, weaknesses, opportunities and threats.

The Principles of Business Management module taught me the differences between the levels of managers and a leader.

It will definitely help me if I were to set up a business in future.

What are your plans after completing the diploma?

After I complete my diploma, I want to pursue a degree in business studies and finance.

I also plan to work in various industries to gain experience and pick up skillsets before setting up my own business.

I have to find a good mentor to guide me through this process too.

What qualities of successful entrepreneurs inspire you?

I admire entrepreneurs who are business-focused and profit-oriented, and plan for future business growth with clear goals and objectives.

Having the confidence to take risks, and self-awareness and conviction in their own ability to succeed are important too.

Successful entrepreneurs are persistent, eager to act; they are willing to confront obstacles and are not deterred by roadblocks.

They are also relationship builders who have open minds, are socially aware and have integrity.

This article was first published in The Straits Times on Jan 14, 2020.