Ho Kwon Ping, a prominent figure in the business world, cautions against the dangers of hubris for successful individuals. As the founder and executive chairman of Banyan Group, a company renowned for its extensive portfolio of approximately 80 resorts and hotels across 22 countries, Ho's words carry significant weight. In addition to his role at Banyan Group, he serves as the executive chairman of Thai Wah Public Company, a notable food and beverage manufacturing enterprise listed on the Singapore Stock Exchange. Ho's vast experience extends to education, where he is the founding chairman of Singapore Management University.
Ho's ventures have proven lucrative, generating about 328 million Singapore dollars (approximately 240 million USD) in revenue in 2023. Despite these achievements, he stresses that building a business is not for the faint of heart. Ho advocates for self-confidence as an essential trait for entrepreneurs, linking it to headstrongness.
"Headstrongness and self-confidence are related. If you're not, to some extent, headstrong… then you're going to be basically a risk-averse person." – Ho Kwon Ping
However, Ho warns that excessive self-confidence can morph into hubris, leading to potential disaster. He believes that hubris can drive companies or their founders to over-expand or undertake excessive risks. This cautionary note stems from his extensive experience in both the hospitality and food and beverage industries.
"Never get caught by hubris into thinking you are great," – Ho Kwon Ping
Ho emphasizes the importance of maintaining a realistic perspective, even amidst success. He advises creating one's own public relations narrative but warns against believing it entirely.
"Create your own fantastic PR, but don't ever believe a word of it." – Ho Kwon Ping
Ho also highlights that business conditions are not always favorable. Despite setbacks, he remains optimistic and resilient, a trait he attributes to personal experience and life lessons.
"My wife has said I'm the bloody most optimistic person she's known, because I fail in everything [but] I still pick up and go on." – Ho Kwon Ping