Cooking Challenge at SPENTREP Class

Here are some of the pictures of the cooking challenge (group creative activity) we had to test the ability of groups to:

work together
create together towards an objective;
be creative as a group
practice entrepreneurship, ie by producing something concrete to eat, sell, consume, and be proud of

   

                                   Vicky, Elmer, Paolo, John, and Albert

                             Ed V, Rachelle, Ana, ProfJorge, Martin, and Emmanuel

                                ProfJorge, Mark, Gio, Jojo, Kristine, and Eliza

                             ProfJorge, Janssen, Hector, Jaime and Akeel

This is by far is the most enjoyable cooking challenge I ever engaged in...

Our plan this coming Monday September 23, 2013

Hi John:

We planned to have 2 full hours for the following:

1.  IV

2.  Special reports.

However prior to that, I would request for one hour of presentation:

1.  My background;  who am I

2.  Entrepreneurship,  spotting opportunities

3.  Strategic entrepreneurship.  Kindly read the hand outs I gave you on VMOKRAPI and SPATRES, and  review my slideshare presentation on:  Old School Strategy is dead,  Applied Strategy

Prof Jorge Entrep Slideshare presentations

--

Prof Jorge Saguinsin

PROMOTING ENTREPRENEURALISM

+639228730181

To view assignments, please click:

www.profjorgenentrep-ateneo.blogspot.com

www.profjorgeentrep-jorge.blogspot.com

www.profjorgentrepdev.blogspot.com  - for inspirational videos

www.entrepnew.blogspot.com -  for NU 12 submission

Prof Jorge entrep slideshare presentations

Blogsend emails (for submission of assignments)

profjorge.entrep.nu12@blogger.com  for new 12 submission

profjorge.entrep.selfdev@blogger.com for IV submission

profjorge.entrep.ateneo@blogger.com  for all other assignments

Special Report by Jaime Mendejar - Blue Ocean uploaded at Slideshare

Jaime sent me this link on his special report on Blue Ocean:

Blue Ocean

Special Report - Blue ocean from Jaime Angelo Mendejar

Our Spentrep activities last September 16, 2013

Makati City, PHL  |  September 20, 2013

Some of the Spentrep students commented (like Ana) commented that we had fun last Monday.

We had the following activities:

1.  Group creative activity -  1 and 2;  preparation of menu and the prototyping;  coming out with two dishes.  Ana, who said she loved cooking, was  the judge but begged on judging her own group, Group 4.  I had two main ingredients:   strawberry and  red bell pepper, and the groups would try to outdo one another in their presentation.  While it was close fight, group 3 who admitted they did not have prior plan was behind.

Some of the lessons learned:

     1.  Ana said even though she had much experience in cooking, learned a lot on food preparation and presentation.

     2.  Vicky said that same ingredients can be made in an infinite number of ways into final dish.  Same with us  -  we are same human beings but we come out in variety of personalities and achievement.

     3.  This is a real practice on creativity.  Those who have not cooked (especially the men) would not consider cooking/food preparation as a worthwhile activities.

I thank everybody for their cooperation and enthusiasm in joining/executing this activity


2.  Mind mapping.  The 4 groups, using crayons and colored markers mind mapped the four concepts/ideas:  innovation, creation, invention and entrepreneurship.  Mind mapping is a tool for brain storming or gathering concepts together, or organizing thoughts that was started by Tony Buzan.  What caught my attention was the presentation on invention.  It captured all the ideas that I know on invention.

The entrepreneurship group also quite captured what the subject/course is all about, and there may be no further need to have the course hahaha(but of course there is still a lot to be learned. like preparing the business plan.

3.  Inspirational video.  We had two presentations: that of Jaime and Kristine.  They were well done.  I can see in Kristine an evolution from a shy young girl to one who has guts determination and savvy now.  (made)   And Jaime, ever since he was young and small, looked like a guy who wants to be different a maverick (I hope I got it right from the videos)

I hope Albert links this site to his celeb chizmiz blog.

He has pictures of the event and I hope he has posted these.

Danger or Opportunity? The attitude is up to you! submit by ZHAO YANAN

---------- Forwarded message ----------
From: Zhao Yanan (AH) <Vicky.zhaoyanan@huawei.com>
Date: Wed, Sep 18, 2013 at 9:31 AM
Subject: Danger or Opportunity? The attitude is up to you! submit by ZHAO YANAN
To: "profjorge.entrep@gmail.com" <profjorge.entrep@gmail.com>

Hi sir, can you help me to check is this one ok? Thank you.

NU 2 Danger or Opportunity ? The attitude is up to you! (S110174 ZHAO YANAN)

Recently ,My WeChat ( Chinese chat tool ,looks like MSN） has a very famous article.

It is said if A,B,C,D,E…X,Y,,Z is equal to 1,2,3,4,5….24,25,26

In our life, Hard work=98, Knowledge=96, Leadership=89, Money=72, Luck=47

However which words equal 100? That is attitude!

Different people have different attitude to life, some people think he can be lucky enough to get a good life easily, so they sleep in the class ,play computer games all day and night, go shopping frequently, they have so many day dreams, such as have a lot of money, be a famous people. I know if we want day dreams to be true, we should have a positive attitude to our life, it not a chance, but it depends on our attitude.

On September 10, I took my strategic management class, my professor show us two Chinese words (WEI JI):

A wēijī in Chinese is every bit as fearsome as a crisis in English. It is meaning there are always opportunities in a crisis situation. First time when I came Philippines, most of my friend in china said: “it is very dangerous in Philippines ,the environment is not good” ,actually they never come here before, only see in TV or heard of something. When I arrive Philippines, I found that there is different we image in china, the Filipinos are friendly and smile all the time. I like Philippines .Then I start my MBA life in AGSB. It is wonderful and I never regret to come in manila. It looks like dangerous, but it is an opportunity to improve myself.

So when you face crisis, your attitude is decide your direction.

发件人: Jorge Saguinsin [mailto:profjorge.entrep@gmail.com]
发送时间: Wednesday, September 18, 2013 9:27 AM
收件人: Zhao Yanan (AH)
主题: Re: Danger or Opportunity? The attitude is up to you! submit by ZHAO YANAN

Please submit a New One.  Thanks

On Tue, Sep 17, 2013 at 2:53 PM, Zhao Yanan (AH) <Vicky.zhaoyanan@huawei.com> wrote:

Hi sir

Below is my NU 12-2,please check, I sent to your blog mail before ,but sir JC said may be have problem.

Thank youJ

---

From: Yanan Zhao <yananzhao10@yahoo.com>;
To: profjorge.entrep.nu12@blogger.com <profjorge.entrep.nu12@blogger.com>;
Subject: Danger or Opportunity? The attitude is up to you! submit by ZHAO YANAN
Sent: Sun, Sep 15, 2013 6:18:56 PM

NU 2 Danger or Opportunity ? The attitude is up to you! (S110174 ZHAO YANAN) Recently ,My WeChat ( Chinese chat tool ,looks like MSN） has a very famous article. It is said if A,B,C,D,E…X,Y,,Z is equal to 1,2,3,4,5….24,25,26 In our life, Hard work=98, Knowledge=96, Leadership=89, Money=72, Luck=47 However which words equal 100? That is attitude! Different people have different attitude to life, some people think he can be lucky enough to get a good life easily, so they sleep in the class ,play computer games all day and night, go shopping frequently, they have so many day dreams, such as have a lot of money, be a famous people. I know if we want day dreams to be true, we should have a positive attitude to our life, it not a chance, but it depends on our attitude. On September 10, I took my strategic management class, my professor show us two Chinese words (WEI JI): 错误！未指定文件名。 A wēijī in Chinese is every bit as fearsome as a crisis in English. It is meaning there are always opportunities in a crisis situation. First time when I came Philippines, most of my friend in china said: “it is very dangerous in Philippines ,the environment is not good” ,actually they never come here before, only see in TV or heard of something. When I arrive Philippines, I found that there is different we image in china, the Filipinos are friendly and smile all the time. I like Philippines .Then I start my MBA life in AGSB. It is wonderful and I never regret to come in manila. It looks like dangerous, but it is an opportunity to improve myself. So when you face crisis, your attitude is decide your direction.;  (please see Prof Jorge slideshare on opportunity seeking)

Factors Paper of Ed Vargas

Edgar D. Vargas                                                 Entrepreneurship                            Prof. Jorge Saguinsin

Factors Paper

What factors I do/don't posses that make/do not make me a Business Entrepreneur?

I came from a poor family, my father was an ordinary laborer and my mother was a plain housewife having only finished 2nd year college and high school respectively. Life was difficult in the 70s and with four mouths to feed, mother would often times borrow from the neighborhood sari-sari store or borrow money from relatives just to make both ends meet.  In fairness to my parents, we never skip a meal though and they made sure that we all attended school.  In order to augment the family's income mother would occasionally accept laundry jobs from well-off neighbors or cook ''kakanin"or "kalamay" or prepare "lutong bahay" that we would sell to our neighbors. You may consider these episodes as my first venture to selling and early exposure to entrepreneurship. Our parents taught us also the value of having an education and graduating from college would be our passport to a better life.

Having gone through life's difficulties while growing up, motivated me to set lofty goals and ambitions for my self, achieve them and succeed. Since my parents can only afford public school, I made sure that I will not only pass but I must belong to the top ten of the class. As a result, I graduated first honorable mention in high school and took a rather difficult course in college. I took up Electrical Engineering at the Mapua Institute of Technology, graduated and thereafter, immediately passed the board.  I made sure also that I get employed by one of top companies in the country.  I got hired by Meralco, set a goal that I would someday become a manager.  I got motivated even more to succeed in my career when I got married and got two sons. I have to make sure that I provide them the best in life and send them to the best schools to ensure an even better future for them.

Being the eldest of four siblings, I am a natural leader. When my father went abroad as a seaman because his job at that time was no longer enough to sustain a growing family and send us to school, I was tasked to help my mother look after my brother and sisters while he was abroad.  As a good leader, I led by example such that we all graduated from college. The same leadership quality I brought in leading my co-workers and team mates and in raising my own family.

As a student a persevered to be on top of the class and my determination was rewarded by graduating with honors in high school. The same perseverance and determination I carried when I got employed up to now when I became an operations manager and currently taking an MBA course in Ateneo to prepare for a senior position in the company and equipped myself for my ultimate goal of running my own business.

My self-confidence and enthusiasm towards work made me rose from the ranks, from being a junior engineer to my present position. In my 25 years in Meralco, my tour of duty in a particular office averages only three years.  After that, I either apply for a higher position or apply to another office where I can further develop my competence and management skills.

 I would volunteer to be a member task forces or newly formed organizations where I can practice my creativity and show my imagination. It was from these special assignments and newly created offices that I developed my tolerance towards uncertainty and a positive outlook towards failure. For me, failures are successes turned upside down when you learn from it and use them as an opportunity to improve better.

In my years of working with Meralco I looked for more challenging jobs and for that I would say that I am also a risk taker. In doing so, I also learned to cope with stress and consider it as part of the territory. In fact, it was in stressful situations that my mettle was tested.

I believed that one should be the master of his own destiny, the captain of his ship. If we don't control our own future then others will. This was the reason why I held several positions in Meralco because when I see an opportunity for development in my career, I don't hesitate to give it a try and grab them.  If that is being ambitious, I guess I really am.

If we set a goal or objective we should be ready to act on it, otherwise that will remain a dream. When I was small, I dreamt of one day succeeding in life. I imagined myself having the comforts of life – my own house, my own car; the respect and admiration of family, relatives and friends. I did something about my dreams – studied hard and work hard. I still believe that old-fashioned hard work is still one of the key to success.

When I set a particular goal, stay focused and make sure that my actions are according to plan. However, I don't forget also to enjoy life while staying on course.  I guess life would be a breeze if you enjoy what you're doing.

Having gone through life's challenges and my working experiences, I believe I have what it takes to be a business entrepreneur.

In summary, I believe I possess the motivational factors to make me a business entrepreneur.  I have the longing for achievement and desire to succeed in whatever undertaking.  I like to lead and the associated power and control appeals to me. Challenges and risks get me going.  I want the freedom to create and succeed on my own.

I possess the abilities of a potential entrepreneur such as perseverance and determination.  I have the self-confidence and enthusiasm to try new things. I take calculated risk and a positive attitude towards failure. As an engineer by training and profession, I am creative and imaginative.

My attitudes towards life of being the master of your own destiny, having a vision, setting your goals and working hard to achieve them will make me a good business entrepreneur.

I want also to make a difference in the life of others no matter how small as my way of giving back for the many blessings I received from God by becoming an entrepreneur that will give opportunities to better the life of others.

The foregoing factors were validated when I took the self-assessment to test my entrepreneurial potential where I scored above average in all the factors in motivation, aptitudes and attitudes. 3.5

Factors paper by Gio Mendoza

Factors Paper

By: Gio Mendoza

My analysis of factors that can make or not make me an entrepreneur is conducted by looking into some of the following facets and past experiences in life.

Leadership

I have this mindset that if there is a better leader than me, I would not be willing to take up the helm. There's that inferiority complex and worry that I may not deliver the right results that I wanted to and what is expected of me. I have that fear of failure which is not a good factor to being an entrepreneur. My first experience of being a leader or as a person in charge was during my high schools days when I was elected as class president during my sophomore year. I did not really stepped forward to be a candidate in the first place, but it's too tough to quit when somebody endorsed me and all voted for me. Besides, I am not really a quitter, which is a good factor to becoming an entrepreneur. Leaders should be risk-takers. I'm not usually one who is a natural at that. I would only take a step or decision if I'm 100% sure that all possibilities are taken into account. However, such calculative nature of mine can be a positive factor to becoming an entrepreneur since one should assess all risks as much as possible. However, it is somewhat my weakness to make a judgement call if there are limited facts which may not be a good factor. When I was handed my first management job in 2003 starting up and managing our South China in Guangzhou, I had no formal education in management then. I had to rely on my own personal understanding of management which I have come to pick up from previous work experiences. I realized now that I had problem listening to others, perhaps not a good factor to becoming an entrepreneur. I always wanted others to do things my way, exactly the way I want it. I have a tendency to be stubborn which could be a good factor, though surely there are pitfalls in not listening to others. Well, a great entrepreneur like Steve Jobs was also stubborn and he always had his own way others say. I also have problems delegating work, which is not a good factor for an entrepreneur as it tends to burn them out. A good leader delegates, as they say. When I set up our direct support office here in Philippines, from the ground up, I have to work real hard. I remember even coming to office during Saturdays and Sundays in the first two years of our operation. The passion, the will to perform and achieve drives me to forget about the time I spent at work and just get things done no matter what. I tend to be workaholic, which is a good factor for becoming an entrepreneur. I really wanted to be hands-on in the business until the whole operation and people reaches sustainable level where I can back off a little and delegate some tasks one by one.

Character

My innate character is partly explained in my Enneagram Test Result I took more than two years ago, by Eclectic Energies at that website, which says I'm likely a Type 1 or The Reformer. Type 1 personality was interpreted as: "Perfectionists, responsible, fixated on improvement. People of this personality type are essentially looking to make things better, as they think nothing is ever quite good enough. Ones have a fine eye for detail. They are always aware of the flaws in themselves, others and the situations in which they find themselves. This triggers their need to improve, which can be beneficial for all concerned, but which can also prove to be burdensome to both the One and those who are on the receiving end of the One's reform efforts. Ones are serious people; they tend to be highly principled, competent and uncompromising. They follow the rules and expect others to do so as well. Because they believe so thoroughly in their convictions, they are often excellent leaders who can inspire those who follow them with their own vision of excellence. Ones are often driven and ambitious, and are sometimes workaholics. But whatever their professional involvement, they are definitely active, practical people who get things done. They are natural born organizers, list makers who finish everything on the list, the last one to leave the office, the first one to return, industrious, reliable, honest and dutiful. The relentlessness of their pursuit of the ideal can make Ones tense people who have a hard time relaxing and who unnecessarily deny themselves many of the harmless pleasures of life. They are seldom spontaneous. They have multiple interests and talents however; they are self-reliant and seldom run out of things to do. Ones are often intelligent and independent.. Ones are primarily people of action, not thought."

Interests and Skills

If I put interest in certain area, I normally focus and put lots of energies to it. My various interests are music, tech gadgets, science, machinery and audio equipment. I have passion in doing things, which is a good factor. In my childhood years, I tend to build my own toys since I am too afraid to ask my parents to buy me real toys. I like to build things, i love doing such actually. I like to dream or make my imagination work but also see my ideas become a reality which is a good factor to becoming an entrepreneur. I like fixing things and doing improvements. I have a skill for improvisation, using what I have to solve problems at hand. I like to troubleshoot. The same interests got me to enroll in engineering.  When I was hired as sales and service engineer by a local trading firm (NEIC), it gave me a much needed break to apply my troubleshooting skills on machinery that I was selling. I was hands-on and went through much difficulty at first since I only had a crash course or training on the job as the former engineer in charge of the product or department is leaving the company for a work abroad in a week's time when they ask me to take his place. I remember that I had to read all the equipment manuals late at night, when I'm on my way to work and while going to the project site. Again, I always have that passion and drive to excel which is a good factor.

Summary/Conclusion

I believe that every person can be an entrepreneur if one wishes to be. Entrepreneurs are made. Though I have several negative factors, but these can be overcome and I have seen myself improve on them over the years. I am convinced that I have enough good factors or qualities which I can build upon in order to become a successful entrepreneur when the right time comes.  3

Factors Paper by Akeel Dalisay

I am resending my Factors Paper as I sent it as a mail attachment last Monday.

Akeel D. Dalisay

Junior Valuation Assistant

China Banking Corporation

AKEEL ZEAN D. DALISAY

ENTREP S10

FACTORS PAPER

            Does someone like me have the qualities to be an entrepreneur?  Going into a business is not a new issue or dilemma these days.  Some people got tired of climbing the "corporate ladder", others simply wanted to be a Boss of their own companies to get hold of their own time and spent more time with their families.  I, also, once thought to be a businessman someday.  If asked what business will I establish?  A question that remains unanswered.  Given the resources and acquired knowledge, will I be as successful as those iconic tycoons who started from scratch?  Do I have what it takes to an entrepreneur?  What other qualities do I need to be one?  If I do posses such qualities, are they enough or needs to be polished to qualify as an "Entrepreneur"?

            Searching for answers, I took an online survey entitled "Entrepreneurial Self-Assessment Survey" from www.wrdf.org to try to find out the qualities needed as an entrepreneur.  The following are the characteristics of an entrepreneur according to the survey, together with a self-analysis whether I do or do not posses each of the characteristics.  The analysis was based on how I see myself as a person in relation to my work and graduate school performances.

• Works hard

      There's no problem for me working hard.  I work as a Real Estate Appraiser and am used to working on-filed and being piled up with pending reports.  I am a consistent top three in terms of productivity based on volume of reports and its complexities.  I hate pending workloads.  Every time I'll be assigned to another account, I make sure that the previous accounts were already done.  At times, I also stay in the office for another hour or two to finish my reports, without filing overtime.

      With my graduate school studies, I also make sure that all requirements (papers, reports) were all completed, be it was submitted on-time or late.

      There's a problem, however, with my work and school habits.  I usually cram during incoming deadlines.  Many of my reports or papers were made a day or night before the submission.  Although I usually make it through, those reports could have been done if I did it during my spare times, instead of going out or playing video games and watching movies.

• Wants financial success

      Everyone wants financial success, of course.  Who wants to suffer financial disabilities?  Financial success will also tell me how good I am doing with my business.

• Has Family Support

      Neither of my parents has been into business.  My wife was into shoe business during her college days.  Despite their experience, or lack of it, I feel that I will have their full support.  However, the extent of their support may depend on the size of the business that I want to establish.  With my acquired knowledge from school and work, they just have to believe in me and be positive with my venture, to avoid stress and to be more focused on the needs of the enterprise.

• Is Energetic

      Being an entrepreneur requires longer working hours.  Working hard might be insufficient if you can't go beyond your normal working hours.  I believe I have the enough energy to work longer beyond the conventional 8-hour a day working time.

• Has an Internal "Locus of Control'

      Inner sense of responsibility is part of being an entrepreneur.  At times, I also experience failures in work and school; and I sometimes put the blame on other people for it, but later on, I'll realize that there's no one to blame except me.  I did the job, it is my responsibility to look for alternatives or to create ways to finish it correctly.  Good thing is, I don't blame luck or other consequences for my failure.  The product of my work is based on how I did it.

• Takes Risks

      Entrepreneurs are willing to take risks, and so do I.  However, my willingness to take risks depends on its anticipated results.  Will the damage be grave enough in case I failed, compared to not taking the risk?  If I take the risk, how much benefit will I gain?  Is the benefit better than not taking the risk?  These are my usual questions during the times when I need to come up with a decision involving risks.  I weigh both sides, anticipate possible outcomes, and review other alternatives.

• Sacrifices Employment Benefits

      This is one characteristic I don't see myself to possess.  Am I willing to give up my career in exchange for an unpredictable personal business outcome?  For now, I don't think so.  I always ask myself, "What if my business fails?  My corporate career will just be wasted for nothing."  Compared to a personal business, regular employment will give me a sure pay check every 15^th and 30^th of the month, while my business might not.

• Has a Need to Achieve

      Why did I take my MBA degree?  I took MBA to have a huge advantage over my competitors in climbing the "corporate ladder".  And what's next after MBA?  Look for a job with better compensation and position is one, but I also wanted to pursue a PhD degree, why?  Self-fulfilment; just the thought of me doing things other people don't make me happy.  Having a PhD is a dream for me.  It might not land be a half-a-million pay check every 15^th of the month, yet the self-fulfilment it will give me will be priceless.

• Has Business Experience

      My parents never had their own business.  Some of my close relatives have.  I never had a business venture myself.  Another characteristic I don't possess to be an entrepreneur.  But I believe my education will help me, as well as my experience in the corporate world.  And besides, many successful entrepreneurs did have a business experience before their successful ventures.

• Is Independent

      I am an independent person.  I am not dependent on other people for my needs.  I make my own decisions, and am responsible for my actions.  I can live alone, I can work alone, I can do things without asking for help.

• Has a Self-employed Parent as a Role Model

      Although my parents don't have business experience, I believe that the life lessons learned from home will be of great help.  Yet, a self-employed parent can teach me the basic dos and don'ts in a business.

• Has Self-confidence

      This is another quality I possess; I don't always believe in myself.  I am a pessimistic person, I always anticipate the negatives.

• Has Integrity

      Ethics will always be part of a business.  There are times where I question the ethics behind certain business decisions.  I guess when faced with a business decision involving ethical issues, I might not be able to respond.  Ethical issues are usually the reason for major revamp of some companies, where they have to comply with regulations involving ethics and the community.

• Has Determination

      This quality is almost equivalent to self-confidence.  The more you believe in yourself, the more you wanted to achieve.  Yes, I am not self-confident always, but when I work, I am always determined to bring the best result.

• Adapts to Change

      "The only constant thing is change." People change, industries change, and everything changes.  Am I good in adapting to changes?  I guess, but it won't come quick and easy.  It will take me time to recover and to adapt to abrupt changes.

• Has a Good Network of Professionals

      I don't have hundreds or thousands of acquaintances who are businessmen, yet I know a few.  They can help me through their advice and experience in guiding me in my venture.  Sa wakas....4

Factors Paper - Albert Bryan Abelido

For me to be able to assess the factors that will make me or will not make me a successful business entrepreneur, I made use of the Entrepreneurial Potential Self-Assessment by the Business Development Bank of Canada as found on their website.

The results were as follows:

 

The results obtained revealed that generally my motivations, aptitudes and attitudes are somewhat below the obtained average by the entrepreneurs.

My Motivations:

I'm the type person who loves challenges and always up for anything that will push me to the limits. I view challenges as opportunities for me to shine brighter and for me to be publicly recognized. I love the feeling of being able to influence other people to do action even if it's something that they're not 100% comfortable. They just rely on the trust that I have invested to move things forward. However, sometimes too much stress makes me less effective especially if there's just too much in my plate. Though I normally ask for help, it takes awhile before I reach for one. I'm sometimes put in panic mode especially when deadlines are about to approach already. 

I have always high regard for myself. I have received negative comments on how I do things from mentors, peers and even my family, but never did I recall that I had doubts with what I'm capable of. If things don't come as it should be, I always acknowledge my participation on its failure but I don't consider myself as such.

My Aptitudes:

I'm very enthusiastic on new things, new learnings, and new challenges. I'm capable on how we can make things work. I have always believed that I can do anything possible as long as I put my heart and mind on it. I also rely on my instincts but those instincts are driven by how I have approached or others approached on certain situations.

However, in as much as I wanted to accomplish more, there are certain priorities that fall behind. Some things I tend to take for granted that deters my excitement to finish it. And it's because I see another opportunity to grab.

My Attitudes:

I always try to learn lessons from my failures. It's easy for me to pick myself up and move on. I have always believed that I'm born to become a winner and failures are there to prepare me for something bigger ahead. However, there are some sacrifices I cannot take especially if it's something that will take my time away from my love ones.

I like to lead others. I enjoy situations where I have the final say. However, once someone breaks my trust, it takes time before such can be restored.  3

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The blog does not accept attached file. 

Ermel Retuta: Factors Paper

Submitted by:

Ermel M. Retuta

MBA MM, SPENTREP

Self Analysis as a Business Entrepreneur

A Factors Papers

Business Opportunity

Successful businesses start with an idea that serves a purpose and seizing an opportunity to create a value out of a product or service.

Opportunity identification has never been an easy task as not everyone would know when opportunity knocks. It takes insight, experience and even luck for one to identify that an opportunity is present. Once an opportunity is identified it can be used to develop personal business concepts.

My observation is that opportunities are vague ideas about making a potential profit and business concepts are more elaborate and specific corresponding to the said opportunity. A business concept is subjective and depends on the person who saw the opportunity and how he translated it to a business concept. This sets the differentiation among existing businesses having the same product lines.

Entrepreneurial Talent

Skills are the things that we learn and acquire through experiences or even attending a formal school. Talent however are the things that are natural or innate abilities a person has since the time he was born.

Entrepreneurial talent combined with skills, which is a function of observable characteristics, most likely determines the outcome of one as to becoming a successful entrepreneur.

Talented individuals have more chance to grow and develop their business ventures. Skilled individuals know the risks involved surrounding the business. Talent is not the only prerequisite; risk identification is another one. One should know when to play aggressive or be on the safe end of the business in order to survive and compete.

Some study shows that the young people who are risk-oriented are more inclined to start as an entrepreneur compared to others.

My Personal Reasons in engaging in Entrepreneurship

 "To increase my income".

This is the most common reason of every entrepreneur as they engage in business. This has been my goal too as I venture entrepreneurship. I was able to read and learn from successful individuals that it is not enough that we work as an employee to become financially independent. I believe I have the skill and motivation to put up and manage a business in order to increase my source of income.

"To be my own boss"

I'm enjoying the perks of being an employee especially if you love what you are doing and you have a good boss. Though there are times when I think that I can run a business on my own and be a boss myself. I must admit that I have my own fears in starting a new venture all by myself but with careful study and planning, I believe that I can also be successful.

"To be able to use my past experience and training"

There are times when I think that I've learned enough and trained enough as a manager and I believe that I can take advantage of the skills that I acquired to my advantage by putting up my own business. While everyday is a continuous learning phase, I believe that there are things that you'll just have to learn and experience once you are in it. The experience is different if you're making decision for someone else and making decision that would have an impact with your own business.

"To prove I can do it"

Many are aspiring to become an entrepreneur but not all become successful in the end. I would like to challenge myself that I have the vision to succeed and I know I can do it. It will not be easy and there are no guarantees, but with the right attitude in facing challenges, I know I can do it.

"For my own satisfaction and growth"

Being successful in a business provides an individual satisfaction that one can't earn by just merely being an employee. This is the greatest goal that I always dreamed of apart from other reasons in putting up a business. I admired the successful business and I always dreamed that in the future I can be one of them.

"To become financially independent"

While being an employee somehow provides job security, it does not necessarily guarantee that we can always have the job that we want or demands the amount of salary that we need to sustain our desired lifestyle. Engaging in a successful business should provide the leverage of becoming financially independent in the future.

"To gain personal freedom"

I know that time will come when we I will be tired of an eight hours of work and find that waking up early in the morning doing the same things over and over again are quite exhaustive.

"To have fun"

At the end of the day, more than looking after the profits of the business I would still look back on the reason why I engage in this business. And the reason is that I love doing it and I'm having fun. It's important for me to love what I'm doing thus I'll always be motivated from doing it.

I consider the following as important to become successful:

Good management skills

I believe that I have the enough and necessary experience to manage a business as I've been on the management field for some quite a few years. For me the most important thing that I think I have is people skills and my ability to influence other people or team member to reach a goal.

Charisma

I know that this is important in the business world. This is something that I have to develop as I'm not really a sociable person. Perhaps I can attend seminars or trainings so I can develop this.

Satisfactory government support

This is something beyond my control but I find important to become successful. In our government system, that more you stay honest and straight, the more chance that you won't survive. Take for example the filing of the necessary permits. In order for your paper to be approved or even be released early, you would need to bribe or even give gifts to the government personnel. I hope that this would change; otherwise, we'll be compelled to go with the flow or suffer the consequences if you go against it.

 Appropriate training

I believe that I still need to attend trainings in order for me to be equipped in whatever business venture that I will pursue in the future. It is important that I know the ins and outs of the business and not just rely on the staff or personels. This will aid me to make sound decisions for the business.

Access to capital

As for now, still don't have enough capital to start a small business. Though, I know that there are a lot of ways on how to get capital like loans from bank and others, I'm still building my financial portfolio to build my passive income first and later on engage on active investments like putting up a business.

Support of family and friends

My family is always supportive of my plans and decisions. I find this important that they understand my goals so that they will also understand my actions

Marketing Skills

I still need to improve on this area as I'm not really a sociable person. I can attend meetings or seminars so I can acquire this skill.

 Hard work

I'm a hardworking person. I also believe in leading by example, thus if I would like my people to be hardworking they need to see it from me as well.

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