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Ho Kwon Ping, 72, serves as the executive chairman of Banyan Group, a prominent hospitality company with a diverse portfolio that spans approximately 80 resorts and hotels across 22 different countries.
According to recent financial reports, the company, which is publicly traded on the Singapore Stock Exchange, achieved revenues of around 328 million Singapore dollars (approximately 240 million USD) in 2023.
Alongside his role at Banyan Group, Ho also oversees operations at Thai Wah Public Company, a food and beverage manufacturing enterprise, and is the founding chairman of Singapore Management University. He attributes a significant portion of his business acumen to his enduring self-confidence and determination.
In a recent interview with CNBC Make It, Ho emphasized the importance of self-assuredness, suggesting that a certain level of stubbornness is essential for anyone entering the entrepreneurial arena. He remarked, “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. You need to be a bit headstrong if you want to be an entrepreneur. You also need a bit of self-confidence.”
Recognizing the Limits of Confidence
While confidence plays a critical role in entrepreneurship, Ho cautions against confusing it with hubris, the latter of which can lead to unwise decisions and potential failures. He shared that his optimism is sometimes seen as excessive, noting, “My wife has said I’m the most optimistic person she’s known, because I fail in everything [but] I still pick up and go on, so you need self-confidence. But, if you have too much of it, it becomes hubris. So you need to know where the line is drawn.”
Overreaching or misjudging capabilities can often stem from a misplaced belief in one’s infallibility. Ho pointed out that entrepreneurs should remain vigilant and prepared for adverse situations, as external support may not always be available. “You always have to be prepared for the worst because nobody’s going to help you when things are bad,” he mentioned. He advocates for a mindset focused on potential losses rather than merely prospective gains in new ventures.
“Never get caught by hubris into thinking you are great,” he advised. “The saying I use… is create your own fantastic PR, but don’t ever believe a word of it.”
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