Factor Paper - Eliza Guades

Factor Paper

Eliza Guades

I remember that I first encounter the word entrepreneur was way back in high school. I used to also have a class in entrepreneurship where in we study different kind of small scale businesses and have the chance to make interviews on how they do their business. And I was doing this paper my memory doesn't only bring me back to my high school days but also in my childhood. I remember during a vacation where I asked for some money from my mother to be able to buy some candies and sell it to my friends. And at the end of the day I will give back the money and the so called profit that I have I used to save. During that time I only do it just for fun but now I realize that once in my life I've been an entrepreneur in my own little way.

 Entrepreneur as defined by dictionary.com is a person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk. And to become one, there are several traits or factors that one must possess. To further assess if I really have the qualities to become an entrepreneur I tried some online assessment.

The result shows that the qualities I posses to become an entrepreneur are:

1.      Need for Achievement/Success – likes to set own objective and get feedback about what one is doing. Also very competitive, especially with themselves

2.        Perseverance and Determination – persisting in one's effort, constant determination to find solutions to problems. This play tenacity and able to bounce back quickly.

3.      Self-Confidence / Enthusiasm – gives belief in one's own resources and abilities. Knows one own value and is optimistic about the ability to achieve.

4.      Tolerance towards ambiguity/ Resistance to stress – able to handle and manage the stress created by uncertainty and is very adaptable.

5.      Perception to act upon one's destiny – have the power to influence events by their actions

6.      Creativity/ Imagination – curious, inquisitive, able to anticipate things and to imagine various solutions to problem

7.      Action Oriented – have the eagerness to take action and diligence and believe to have the act to become successful.

If there are traits that I possess to be an entrepreneur, there are also some that I need to improve on which are:

1.      Power/ Control Appeal – have the desire to lead and influence, wants to organize, coordinate actions and mobilize resources. It also likes to arouse admiration and acquire social status.

2.       Need to Challenge/ Ambition – closely related the need to achieve but this trait constantly looking for the ways to take on difficult projects, achieve their dreams and have a constant need to learn.

3.      Self-sufficiency/ Freedom – looking for independence and able to make their own choices and set their own constraints.

Having this assessment, I was able to identify where I am as becoming an entrepreneur. I can say that I can be one with proper planning and consideration for I am driven and rewarded by innovation and problem solving. And I should not do it alone - I must surround myself with persons who are buy my vision and will serve as my sounding board and support mechanism to help me ensure long-term success.

--
Thanks & Regards,

Liza Guades   3