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 15th and 30th 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 15th 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
