The Making of Filipino Entrepreneur
The Making of Filipino Entrepreneur
The Making of Filipino Entrepreneur
The making of Filipino entrepreneur is a process of trial and error. The colonization of
the Filipino for more than 300 years is a great factor in the slow development of entrepreneurial
activity in the country. Our concept of owning a small business like a sari-sari store, or a small
tailoring shop, or a repair shop or market distribution outlet already makes the person an
entrepreneur. While this concept is true to certain extent, entrepreneurship is more than being
self-employed and making a living out of the meagre income to support family needs or a little of
their wants.
The success of Filipino entrepreneur stands in a very shallow foundation. Most Filipino
business starts on a copy cat syndrome. For example, Maria will start a sari- Sari store and here
comes Pedro seeing the flourishing business of the Maria, opens store opposite the other
corner. Juana starts a barbeque stand on the corner and here comes Petra with another outlet
with another variety of street foods. This is the scenery in most Philippine business condition.
The food business outlet is one of the most abused and most prominent activities of
some Filipino business entrepreneur, including that of small outlet in the distribution of basic
grocery and other items called sari-sari store or in some cases mini-grocery store. Some
enterprising outlets include cellular phone load that adds to their income.
1. The new entrepreneur must be a doer and willing to work hard and long until he achieved the
task he wanted for himself. He must possess the versatility for success and self confidence that
could be overcome risk with his strong determination. The exploration of the total business
environment must be put into total perspective as it interplay with the development of new
opportunities and the risk that is attached to it.
2. Personal attention and comprehensive awareness for the progress of the business is not
trusted on other people. The entrepreneur must be in direct control of operation and not in
indirect control. He must be able to measure the desired results. He must personally verify the
data and financial figures that were spent and earned in the operation of the business.
3. The new entrepreneur must have high sense of integrity that he stands firm on his principles
and ideals. His word of wisdom is a contract to depend on. He looks at things in different
perspectives and approaches things with varied alternatives to attain what he wants. In short, he
is a visionary, innovative and would not stop until he achieved the goal he sets for himself.
Emotional stability is an important factor in the making of an entrepreneur.
4. While he is impatient for mediocre performance and lazy bones, his temper must remain in
control. Interpersonal relationships must be the banner in negotiations and effective personal
communication is the key factor in closing business deals.
5. The built in self -starting mechanism that drive entrepreneur to success is his executive ability
to manage people and resources. This executive ability refers to how he plans, organizes,
directs and controls the physical and material resources under his disposal. Many entrepreneurs
were describe to have shrewd judgment in character that induced them to see things the way it
should be. He has a passion for excellence and mediocre performance has no place in his
entrepreneurial vocabulary.
The new entrepreneurs and those who believe in their capacity for long hour of work to get
things done, spend 75 percent in dreaming innovation and putting them into action. Dreams are
built around creativity as he conceived original idea out of his imagination.
The entrepreneur is like a multi-awarded artist with a handful of trophy of accomplishment
equipped with inner drive in transforming idea into tangible reality. Sacrifice for long working
hours and abandonment of personal life pleasures make the entrepreneur achieve their target
goals. They organize and develop their idea into achievable activities and surpass the factors of
risk.
THE STARTING POINT TO ENTREPRENEURIAL SUCCESS
1. Start to be on your own
An individual can never attain success in entrepreneurial activity unless he starts his
own business and releases himself as an employee for the rest of his life. Income from
employment is never enough as it is good only until the 15th and end of the month. Never have
we find an ordinary employment who get rich except those who are connected with the
government and amass wealth through graft and corruption.
You may start as an employee, get new ideas and develop your own entrepreneurial
style from experience and education. Start dreaming and be independent. Learn to save money
and be sure to put it in proper investment then make it as starting capital to operate your
enterprise. Make the money work for you as you think to make it grow bigger from the dreams
one have crafted out of your imagination for success.
3. Be in control
The entrepreneur must be in the driver seat of his business. You cannot trust your
business to somebody who does not own the ideals and aspiration of the enterprise. Be in
control of the operation as you develop people whom you can work with dedication and with
values the same as yours. Invest your time with people who are achievers and do not lose your
valuable time with losers.
Motivate people to excel and make their desire burning for success with their
accomplishments. Make them partners in decision making and develop their ego needs for
proper recognition. People are your assets that can help you propel success in your business.
Think that improving efficiency and effectiveness will create more space for growth and
development.