The first generation creates it (business enterprise) the second generation enjoys it, and the third generation destroys it

Every generation needs a revolution - an entrepreneurial revolution

This was the topic of anecdotal research we did for a famous Mary Lady Professor (a foreigner) while I was in second year college.  

Indeed in my experience while as a first generation entrepreneur (or were they my parents?  But I was the one who put up many of the enterprises) the second generation, my children seem to have lost track of the original mission ie to create jobs and employment and to be in the service of others.  The second genration is not so keen in developing business skills and talents needed to be successful

The scions find satisfaction in:   having big balances at banks and showing this off, buying luxury real estate, travel abroad  good food

I still want to be frugal, hard working with the staff, sticking to the basics.  I hope the scions can come to their senses and be first generation creatures

Opportunity seeking follows the numbers game

Every generation needs a revolution - an entrepreneurial revolution

Even at this later stage in life, this office entertains many possible projects.  I think opportunities follow the law of numbers.  Of the so many in pipeline, only one or two will prosper.  Many obstacles will come up preventing success of the project:   1.  regulations,  2  internal dissent or lack of cooperation, 3.  the proposed partner mindset.  Lately one of our projects in the pipeline was cancelled because one of clearances was delayed, He lacked obviously patience and the maturity to come to a long term business  relationship.  He dared us to end the project, which we did.  We spent time effort, and over a year wrestling with the project. 

I was relieved that it was over.  It was second time he showed his lack of patience   On the other hand it was  a blessing in disguise because we did not get the desired row.

The other project was abandoned by the Board because lately we are having difficulty with LGU and 

its almost two years.  The LGU exec is a relative and has not been helpful.   

As my younger brother used to say, maybe " Not meant to be"     May be we will just use the project to cover our liabilities

Wealth creation, focussing on results

Every generation needs a revolution - an entrepreneurial revolution

One of the things that bother me is subordinates being content  with completion of tasks and not minding their contribution to results.   Sales and and collection are important results.  Without them we can do not eat

And they are not bothered with that.  Many workers would just do routine jobs, will not take initiative, will not go beyond their comfort zones and content with just being there.

At the end of the day, the bottoms up approach does not work.  It has to be top down.  The top guy has to take charge and be at the forefront.   

The captain has to take charge.   There could be no other way