Factors Paper by Carlo Senica

Factors Paper by Carlo Senica

SPENTREP - S09

As I do self-assessment on the factors that I have & don't have to be a business entrepreneur, I come up with the following list:

Factors that I think I have to be a business entrepreneur:

1.       Attitude & Willingness to take action = Taking an MBA degree, staying up late to do assignments and prepare for exams, and learning new things are my first steps of being an entrepreneur. I think this attitude building will help me progress as I pursue my dream of being an entrepreneur someday.   

2.       Motivation = I have this strong self-motivation that I'll have my own business at the age of 35 – 40yrs (the earlier, the better, but I'm not rushing things). In fact, I already claimed it as I wrote it in my long term personal achievement plan 3 years ago. As part of my motivation as of to-date, I already achieve some of my short term personal plans and other mid-term personal plans are on its way.

3.       Knowledge = Everything can be learned if you have the right attitude and pushed by your strong motivation.

4.       Financials = Money is not a problem as every businessman says. Because You can apply for a loan to start your business or You can either seek for investor/s to finance your business. I think what important is, how you manage the money wisely.

Factors that I think I don't have to be a business entrepreneur:

1.       Family background = I didn't came from a family of businessman; I was raised by a Filipino mentality to study well to get a good paying job paired with good benefits. Now that I've achieved that, it's time for me to raise the bar in our family and start in a new endeavor by having my own business.

2.       Experience = As an old adage says, Your personal experience is your best teacher. In this criterion, I totally have a zero experience with regards to managing own/family business. What I've is, a diversified working experience as an employee which I think I can bank on someday as I put my own.

3.       Creativity = In this criteria, I think & feel that I'm not that creative or simply lack creativity to be unique. What I can do now, is to continuously practice thinking new ideas and/or improving existing ones.  

4.       Self – confidence = With lack of experience, creativity, and family background; this holds me from being confident that I can be a successful entrepreneur. But I believe as I jump into having my own business, I'll learn and confidence will eventually build-up. <pls see the work of Trizza Castro and benchmark>