Hello Mentor EP18 | Anwar Jumabhoy – What Is Entrepreneurship?
Insight straight from the mentor of top entrepreneurs and CEOs.
By Matt Khoo on 2023-11-27 at 7:11 AM
Updated on 2025-03-17 at 7:05 AM
“If entrepreneurship was easy, everyone would start a business.”
About the episode
This powerful statement by Anwar Jumabhoy encapsulates the essence of Episode 18 of Hello Mentor. In this candid conversation with Derek Toh, Founder and CEO of Hiredly, Anwar shares his decades of entrepreneurial experience, shedding light on the challenges, strategies, and mindset shifts required to thrive as an entrepreneur in Malaysia and beyond.
Recorded during Malaysia’s MCO, this episode brings raw and insightful reflections on entrepreneurship, business coaching, and leadership. From the struggles of building a team to the intricacies of navigating market challenges, Anwar dives into the realities of starting and sustaining a business. He also addresses a common misconception: you don’t need to start a business to be an entrepreneur. Instead, entrepreneurship is a mindset that can be cultivated in any organization.
Getting to know Anwar Jumabhoy
With over 40 years of experience spanning multiple industries, Anwar Jumabhoy is a keynote speaker, business coach, and advisor to technology startups. He has served on the Industry Advisory Panel for Taylor’s University’s Schools of Hospitality and Business and mentored at the Malaysian Global Innovation & Creativity Centre (MaGIC) for its SE Accelerator Program.
Having worked in venture capital, led startups, and operated in corporate environments, Anwar’s expertise lies in helping businesses and individuals embrace entrepreneurial thinking. His philosophy: entrepreneurship is about balancing passion, calculated risk-taking, and the ability to adapt in the face of uncertainty.
Key Takeaways from the Episode
1. Entrepreneurship Is a Mindset
Anwar emphasizes that entrepreneurship isn’t exclusive to those who start businesses. Employees within companies can adopt an entrepreneurial approach by taking calculated risks, seeking innovative solutions, and focusing on outcomes rather than rigid processes.
2. Revenue Is the Lifeblood of Any Business
For aspiring entrepreneurs, he underscores the importance of identifying a clear revenue stream early on. Successful entrepreneurs design products or solutions that address specific market needs and simplify their go-to-market strategies.
3. Building the Right Team Is Crucial
Entrepreneurship is a collaborative effort. He highlights the importance of assembling a driven and capable team, as no one can build a successful business alone. Equally important is fostering a culture of transparency and radical candor, where team members feel empowered to voice their opinions without fear of judgment.
4. Learn When to Persevere and When to Pivot
Drawing from his own experiences, he discusses the fine line between persistence and knowing when to change direction. He advises entrepreneurs to rely on intuition, gather feedback, and make informed decisions about when to push forward or explore alternative paths.
5. It’s Okay to Have a Lifestyle Business
Not every business needs to scale to unicorn status. He challenges the “go big or go home” mindset, advocating for entrepreneurs to define success on their own terms. Whether it’s a small, sustainable business or a larger enterprise, the key is to align your goals with your values and aspirations.
Anwar’s Advice for Aspiring Entrepreneurs
Focus on Competence: Choose a business where you can personally manage the core responsibilities until you’re ready to expand your team.
Simplify Your Strategy: Develop a clear, executable go-to-market plan that minimizes dependency on distributors or intermediaries.
Prepare Financially: Have sufficient funds to sustain yourself for at least 6–12 months to navigate the early stages of your business.
Embrace Failure: View setbacks as opportunities to learn and refine your approach. As Anwar puts it, “Entrepreneurship is about taking educated bets on the future.”
Hello Mentor is a podcast show that platforms raw discussions on career, ambition and success with inspiring and accomplished individuals.
Hello Mentor is hosted by Derek Toh, Founder and CEO of Hiredly.
Listen to all episodes on Spotify for your dose of inspiration and career advice from real people who’ve been there!
Looking to connect with a community that values growth and innovation? Hiredly’s Young Leaders Community provides invaluable resources and insights for aspiring leaders and entrepreneurs. For employers, Hiredly’s Employer Branding Community offers strategies to attract top talent in today’s competitive market.
Discover more career inspiration and opportunities on Hiredly.
By Matt Khoo on 2023-11-27 at 7:11 AM