When the word “entrepreneur” is mentioned, we are automatically wired to think of large sums of money, risks, defiance and ultimate success. These traits come to mind because the most awe-inspiring entrepreneurs you have heard of are business gurussuch as Bill Gates, Steve Jobs, Ariana Huffingtonor Mark Zuckerberg. As entrepreneurs who have made it, (and made it big!), these are not your usual run-of-the-mill graduates(or mostly college drop-outs!) who make a living just to survive the world, but they are the convention-breakers, the adventurers who dared to dream and risked it all in an attempt to prove a theory right.
And yes, they are rich but before they were even famous, they were passionate about their ideas, their dreams and they were consistent in their endeavours. For some, success came only after years of hard labour and consistent failures. And if you were to type “common traits of successful entrepreneurs”, you will come up with a list of characters such as tenacity, patience, self-belief and so on.
And perhaps this is what makes the Patricia Lim worth mentioning in this list of business moguls. Born in the United States and raised in Singapore and Thailand, Patricia Lim is an aspiring young entrepreneur who should be mentioned in the worthy list of upcoming business tycoonsin this century. By the age of 25, she has already set up four hotels in Pattaya, a well-renowned beach that gets over 5 millions of tourists every year.
The young entrepreneur defied conventional wisdom and logic when she decided to venture in the hotel business despite holding a Bachelor in Food Science. Equipped with barely enough skills in hotel management, Patricia Lim took a bold leap by renovating aworn out building owned by her parents. She fixed it, developed it and ran it. The first PrivilegeHotel may have been a simple budget hotel but Patricia Lim gained so much from it which benefitted her in her later projects. As an entrepreneur, her persistence to keep going irrespective of various obstacles -such as more competitions, budget constraints- which sprung up is commendable.
Looking back on her proudest achievements, the setting up of four hotels to date which are gaining a local and international reputation, Patricia Lim states that as an entrepreneur it is crucial to take risks, “you wouldn’t be an entrepreneur if you don’t take any risks and that includes leaving your comfort zone and not being afraid to start something up from the ground over and over again”. Her efforts are nowpaying off, her future projects include the development of another 11 hotels all across Thailand.
Great entrepreneurs never stop learning. Lim highlights that “education is a never ending process for great entrepreneurs”. It is a continuous lifestyle whereby they do not just learn from past mistakes but they are on the lookout for constant self-upgrading in regards to their skills. Patricia Lim proves her point by stating that she attended numerous conventions, conferences and short courses, “They are very helpful. In my case, I was studying part time and managing at the same time. I think that these short courses, no matter how trivial they might appear helped me enormously in being a much better employer and manager.”