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