Dr Edu Tuazon - serial entrepreneur; artist, food expert, and doctor

Dr Edu Tuazon's factors paper

I can see in Dr. Tuazon a Rennaisance man - a man of many talents:   Doctor, artist, gardener, culinary expert, connoiseur, businessman, entrepreneur, organic farmer.

Just look at his interests:

1.  Organic farming;

2.  Food (cassava cakes - Ralos cassava) 30 branches and still expanding

Factor Paper by Rophele Ocampo AGSB Clark

Hi Prof Jorge,

Resending my Factor Paper assignment.

Thank you!

Regards,

Rophele Louie C. Ocampo

AGSB Clark

 

I grew up believing that I will be a businessman and have a successful business someday. This has been an ambitious answer whenever I am being asked on what I wanted to become. This has not changed because up to this day I still hold on to that belief and dream. This drive started when I am in my elementary days, around 4th grade or age 10, I sell "sipa" to my classmates and other students in the school and earn extra money. I even go to the market downtown all by myself after class (without my parents' knowledge) just to buy stocks and sell them the next school day. During summer break, I make ice candies and sell them at our neighbourhood. I grew up in a middle class family; my parents are employees and not entrepreneurs. My Father was into the banking industry and my Mother was into the export garments. Most of my Father's siblings are teachers while my mother's side are into business of food and clothing.

Factors paper by Dr. Eduardo Tuazon

Sir Jorge,

   

    Good afternoon.

    Here is the copy of the edited story of my entrepreneur life.

    Thank you.

Edu Tuazon

Entrepreneur test and Factoring

I was not surprised with the high results of the four traits namely: achievement striving, industriousness, taking control and creativity because I am really like that in life but with the average score in the passion trait, I made a self reflection.

Factor Paper by Jopet Pineda

Ateneo De Manila University

Graduate School of Business

Entrepreneurship

Factor Paper

Submitted to:

Prof. Jorge Saguinsin

Submitted by:

Ner Joseph C. Pineda

My eighteen years in GlaxoSmithKline Philippines as a field sales manager has contributed a lot as to who I am presently as an entrepreneur. GlaxoSmithKline has eight leadership essentials to guide and mold its employees to ensure that every employee lives GSK’s mission of enabling people to do more, feel better and live longer. GSK’s leadership essentials are as follows: performances with integrity, people with passion, develop self and others, innovation and entrepreneurship, alignment with GSK interest, accountability for achievement, sense of urgency and everyone committed, everyone contributing. As a field sales manager, I gave much emphasis and worked on accountability for achievement, performance with integrity and people with passion while also giving importance to the other leadership essentials.

Being accountable for my team’s achievement was taking full responsibility for the successes and shortcomings of my team. I made sure that my team is equipped team with the necessary skills, knowledge and passion to be successful. I was very determined to help my team exceed our corporate and individual goals so they can continue to grow in the company and to grow as persons. We were also accountable to our own performances and achievements that we constantly tried to identify and seize opportunities to grow our business and how can improve our ways of working. Currently, I am making my people in our cafeteria accountable to their respective roles. I want them to realize that they have a responsibility to do their work properly and contribute to our goals of maximizing sales and minimizing costs.

Performance with integrity was also very important for me and my team in GSK. We believe that our performance should be a product of our hard work, commitment and passion. I also inculcated in my team the importance of sanctifying our jobs and roles in the organization. This will ensure that we are guided by a common divine and supreme Authority. Recently, I fired one of my staff in the cafeteria after I learned that he manipulated the inventory reports for his personal gain. I explained to my staff that integrity and trustworthiness is very important to have a productive and harmonious relationship. I also reiterated that they can approach me in cases they need help or assistance especially in their finances.

Being passionate in what we do contributed a lot in our success. Though our jobs in GSK continued to be challenging every year, we inspired each other in our team with our energies and spirits to lighten our load. We tried to be passionate in everything we do to deliver the best possible customer service to our stakeholders and to find opportunities to grow our business. In my current cafeteria business, I am trying my best to continue this passion by continuously thinking of ways to grow our business and how to improve our ways of working. The things I mentioned above are some of the important things that I am very grateful of with GSK and these things will surely help me become a better entrepreneur. The other leadership essentials are equally important and helpful to me during my stint with GSK.

When I availed of GSK’s early retirement program, my immediate goal was to increase the sales of our cafeteria business to compensate for my income in GSK. It was not easy since there were many challenges that I faced but I managed to increase the average daily sales by at least 30%. I thought of ways to attract more students to patronize our cafeterias by coming up with more variety in our snacks and lunch menu. We included healthy dishes like vegetables and fishes in our daily menus. We offered snacks usually food in food courts to attract the students like pan cakes, french fries, siopao, hotdog, fish balls and “quek-quek”, shakes and other Filipino delicacies and snacks. I also offered new items like ice cream, more fruit and sports drinks, imported candies and chocolates. I also talked to my staff and taught to be more customer centric and oriented. Also, I was able to put up a control system which enabled every employee to be accountable in their respective roles and to ensure that our operational expenses stay at a minimum.

On the other hand, in line with our desire to expand our current business and to explore other opportunities, I feel the need to be more courageous in terms of taking risk and engaging in new business ventures that I am not necessarily very familiar with. Since being an entrepreneur usually entails using hard earn capital, I am being held back a bit and wants to be sure that our hard earned savings would not go down the drain. I think I need to overcome my being a “sigurista” and take calculated risks to grow our business and to continue exploring for opportunities like what I did in GSK. I should also look for other opportunities outside my current endeavours. I believe that there many opportunities to seize and I just need to learn and master these new business opportunities. I think that I need to be more creative and innovative to be able to differentiate our business from competition and to provide high value services and products to our customers.  I know that I can contribute more in our society by creating more job opportunities and by exceeding the expectations of our customers.  3

--

Prof Jorge Saguinsin

BIDDA:   BELIEVE, INSPIRE, DREAM, DO, ACHIEVE

+639228730181

To view assignments, please click:

www.profjorgeentrep-ateneo.blogspot.com

www.profjorgeentrep-jorge.blogspot.com

www.profjorgeentrepdev.blogspot.com  - for inspirational videos

www.entrepnew.blogspot.com -  for NU 12 submission

Prof Jorge lectures at:     Slideshare

Blogsend emails (for submission of assignments)

profjorge.entrep.nu12@blogger.com  for new 12 submission

profjorge.entrep.selfdev@blogger.com for IV submission

profjorge.entrep.ateneo@blogger.com  for all other assignments

Factors paper by Angelbert Orseno - AGSB clark

Angelbert M Orseno
AGSB, Clark
Prof. Jorge Saguinsin

Well, yeah why not take also some evaluation test – to see if entrepreneurialism runs in my blood I whispered to myself. Pull some free links, open the testing site. 6 sets of questions: all situational, all calls for natural decisions – common sense. I answered and finished with full confidence; run through the pages until I reached the final part. I signed my personal details and then was greeted by the result page.

But with most honesty the result appalled me! I can’t believe it and after skimming through the result I found myself reading the “how to interpret your result” over and over again. I just can’t believe it! The classifier A depressed me a bit and that instantly. It seems like I really can’t comfortably accept the gauge. I glanced back my thoughts recalling the questions and I am telling myself that I just simply and candidly answered the questions there should be no wrong. But there you go it looks to me that the result leans, at my present state of being, that I don’t have what it takes to become an entrepreneur! Read on.

I was 6 years old when I have this first pet – chick. In that early age I associated my relationship to my pet to that of the movie “Anak ng Bulkan” (starring Fernando Poe and Ace York – the kid who found a bird that eventually grew gigantically that flies the kid round”). My pet chick eventually grew as well but instead of taking me to magical moments it is bound not to the sky but to becoming a “pulutan” but I protected it with my little sense of defense. The bird was spared from the “kawali”. Could this soft-heartedness but strong conviction trait of an entrepreneur?

At primary III I have my “peking ducks” in a pen. I have also 50 heads of poultry. I have 10 heads of pigs and I am selling ice candy in the school and I always go back home all commodities sold; I didn’t lose a single life of my livestock; I designed the pens and make it sure my livestock have what they need whether it is a shelter or food . My mother taught me once how to mix the feeds and I continue thereon. My mother gives me P5.00 whenever these live stocks are sold. Do I show at this early age what they say some of the “D” factors of an entrepreneur: Details, Devotion and Dedication?

I went on with my life crossing my teens living as an ordinary guy. I have amassed different kinds of peers for friends. I joined those college “brotherhoods”. I was active on group and school activities. I led the group through good and bad times. Could this be the power and control appeal factor which I was gauged high that will contribute to me of becoming an entrepreneur?

I got my first job 2 months after college. As it is my first work place exposure I did all my best to establish roots in my career. Passion and dedication were my closest friends. I’ve learnt to respect time, I’ve learnt to value commitment. I learnt to love what I am doing. I was driven by inspiration and I am hungry for new wisdom. The dose of motivation never parted my appetite. Could this be what it meant by the area Need for Challenges and Ambitions that I possess?

Boredom struck me after working for 4 years. A small voice saying there’s more to life was vividly loud. What is in the other side of the earth it asked? I quit my local job and accepted an overseas offer – to a land that is the center of the opposite of my faith – Kingdom of Saudi Arabia. The people look entirely different; the place and community made me shiver but all I could feel was total excitement. This is it I guess and I ended my thoughts saying “I can do this”. Did I carry at this stage of my life the Perception to act upon my own destiny?

I quit my overseas stint of 8 years after realizing that there are no more mountains to climb up. The urge of coming up with something didn’t leave my thoughts. Dreams of working for myself never miss to visit me in bed. I decided of take out my eggs from the basket and jump to the bandwagon of Internet Café (that was 2005). The competition was very fierce – survival of the fittest! Promotions, gimmicks, marketing, all you could possible think of to lure customers. I survived the competition. Business was alive for 7 years. For the first time I am counting the true fruits of my own labor. I spelled this as Perseverance and Determination of someone who is Action Oriented and of someone who is Resistant to Stress. Am I close to completing the right recipe of an entrepreneur?

Now at present although still in corporate world I found myself engage in a small farm starting with 1000sqm land. I am slowly putting some live stocks in it. The clear image that I can capture at this very moment is me riding on my horse (duh?) steering some herds; doing extended business related to agriculture; mingling with the land people, putting up cooperatives - building a society. It also started to sink in me the impact of deforestation in our land because of total dependency on trees so I am doing some research on Mahogany planting. I would also want to engage on activities that will alleviate poverty; which will help the education system and send unfortunate kids to school, to build playgrounds, libraries, meaningful healthcare centers, recreational activities that will enhanced their curiosity – that will give back their childhood. With Faith, I believe I can do something back to my people and to my God. Could this be my ultimate Dream?

At this point after writing and traveling back to my life with series of torrent events I realized that I was actually implying some points of the critical measure of being an entrepreneur, namely, if I may:

• Do I Have What It Takes?
• As I believe not anyone is a “born” entrepreneur but one can only gauge further the necessary traits.
• Do I Have the Discipline?
• An entrepreneur sees beyond, do beyond.
• Can I Take a Hit and Get Back Up?
• Entrepreneurs are meant to be resilient.
• How Much Am I Willing to Sacrifice?
• Business consumes everything. Will I be smart and efficient in choosing what to sacrifice? Families and relationship are most of the time part of the collateral damage when engaging in business.

With all these I can proudly say, yes, I have what it takes to be an entrepreneur. But at the end of the day I am always consumed by the thought that one will have to do something at one point in his/her lifetime whether it will be nothing, stupid or meaningful and productive. I am founded and standing on the saying that “we will all leave this place; strive for a legacy that you will be remembered of”.3.5

Factors paper by Arlene Panganiban - AGSB clark

DO I HAVE WHAT IT TAKES TO BE AN ENTREPRENEUR?

By Arlene A. Panganiban

History

I was born in the province of Calapan Or. Mindoro from a military father and a modern mother in a religious family. Went to school till college in with the sisters of St Paul and took up Bs in Nursing. I was Salutatorian in elementary and high school but didn’t take nursing very seriously. Went to the US few months after boards and started working as a registered nurse. The medical world has a higher ethics I may say compared to other professions in my observation. My parents put a high regard on honesty and discipline with money. After 15 years of being in the US we came back here in the Philippines and my business world started. With my 15 yrs. of nursing background in 2003, I went to manage a family owned restaurant for 3 years, 2005, went to be a “viajera” buying clothes from Hong Kong, Bangkok and Jakarta for another 3 years till lahar flooded my store for 6 months. I started buying palay 2007 and milled them for rice for 7 years. I did wholesale and retail rice dealership. Then I opened my Chinese fast food outlet in SM Pampanga and held it for 5 years.  I worked as a general manager in a natural resort in Batangas for a year until I helped my husband manage his security agency. Now I solely manage our security and manpower agency on the 9^th year. With that quick history let me deduct if I am an entrepreneur.

With the D’s mentioned by Prof Jorge, Yes, I am a dreamer, determine, detailed and doer. I manage business and will not be satisfied until I solve all possible problems why I won’t take off. Sometimes I get so stressed and pray why I cannot do better, like what happened in SM. For someone not a nationwide name I was ranking 7^th out of 12 fast-food outlet but the income was a joke to continue while SM is doing well from my rent of 21.5% of gross. My grains experience was very good until I want to more close to home and invested in SM. I left the family restaurant because it was a family business and my boss was a brother in law. We couldn’t seem to be working well but I love him as a brother so I rather not challenge that.

My F’s are faith, focused, frugal, fast, fun, and flexible and forever improving. I have seen these traits in the past especially in my nursing career as an oncology licensed manager. I know though that I will not start big or invest in something I have no control of. I will not spend all my savings and be so positive that what I started will be successful. I tend to analyze, I sort all options .When I was younger I have done or invested in very new things to me because of some mentors who didn’t stay long, but I was brave to continue.

Gifted Minds- I am a fast learner and a dreamer. I think I have this.

Steely Guts- Intuitive- I have a sense of intuition. I can feel the people around me.

                                         And if given the chance to be in the bigger business world I

                                       Can assess business itself.

                       Courage- I am not that brave especially if my finances are limited.

Patriotic hearts –What I know is I am loyal and patriotic to my products, used to sell things from grade 1, started with “white rabbit “candies, in college and till working years, and married life. I also noticed that I cannot sell things I don’t believe.

Hands that truly care- This one I know I have. In my nursing years and as a mother, now as an owner of a company whose employees are so much in need? I give more that a previous professor said that I need to earn more before service.

Currently one of my hesitations in the Philippine setting is giving big gifts to lure contracts. In my industry, I cannot sacrifice and cut the pay of the agency employees as percentage of those approving the contracts. I do think sometimes that I am not cut out to do business where there are SOP’s. I have to find sector. But even in the business of my husband of memorial park and chapels, there are those who try but not as bad. I guess I will find it soon.

Prof Jorge may you allow me to copy in the next page my entrepreneurial test results taken from the internet. Thanks 4 

What's Your Entrepreneurial I.Q.?

You think you know business? Take our quiz and find out how well attuned you are to the demands of being an entrepreneur.

Common characteristics in areas such as family background, childhood experiences, core values, personalities and more turn up time and time again in studies of entrepreneurs. Find out how you fit the mold by determining your Entrepreneurial Quotient, or EQ. The following test is no measure of your future success, but it may show you where you excel and where you need to improve to help make your business soar. Answer the following questions with a "yes" or "no," and total your score at the end to find out your EQ.

Your Score Is... 15

You have everything going for you. You have the potential to achieve spectacular entrepreneurial success.

Your background, skills and talents give you excellent chances for success in your own business. You should go far.

You have a head start of ability and/or experience in running your own business and should be successful if you apply yourself and learn the necessary skills to make it happen.

You might be able to make a go of it if you ventured out on your own, but you would have to work extra hard to compensate for a lack of built-in advantages and skills that give other entrepreneurs a leg up in beginning their own businesses.

Your talents probably lie elsewhere. You should consider whether building your own business is what you really want to do, Working for a company or for someone else, developing a career in a profession, or achieving an area of technical expertise may be far more congenial to you and would allow you to enjoy a lifestyle appropriate to your abilities and interests.

Entrepreneurial Factoids:

• Significantly high numbers of entrepreneurs are children of first-generation Americans.
• Successful entrepreneurs are not, as a rule, top achievers in school.
• Entrepreneurs are not especially enthusiastic about participating in group activities in school.
• Studies of entrepreneurs show that, as youngsters, they often preferred to be alone.
• Enterprise usually can be traced to an early age.
• Stubbornness as a child seems to translate into determination to do things your own way-a hallmark of successful entrepreneurs.
• Caution may involve an unwillingness to take risks, a handicap for those embarking on previously uncharted territory.
• Entrepreneurs often have the faith to pursue different paths despite the opinions of others.
• Being tired of a daily routine will often precipitate an entrepreneur's decision to start an enterprise.
• Entrepreneurs generally enjoy their type of work so much, they move from one project to another-nonstop.
• Successful entrepreneurs are willing to use their savings to finance a project.
• Many entrepreneurs make a habit of putting their goals in writing.
• Handling cash flow can be critical to entrepreneurial success.
• Entrepreneurial personalities seem to be easily bored.

Factor Paper by Verman T. Reyes of AGSB-Regis Clark

Factor Paper by Verman T. Reyes of AGSB-Regis Clark Subject: What factors I do and do not have as a Business Entrepreneur I always wanted to be an entrepreneur when I was a kid. I would answer the phone for the clients of my dad and get some money for my service from my brothers. I remember when I bought basketball shoes when I was in gradeschool and sold them half the price when i already used them 5-6 times in our tournament to my classmates. In highscool, bought nba basketball cards as a hobby and when I get special insert cards of a famous player, I sell it in the card stores in greenhills either consignment or through card collectors directly. I remember buying 2-3 packs of upperdeck basketball cards for 300 pesos. Then when I opened one pack, I got an insert card of Michael Jordan worth $100. I sold it for P2,200 and got almost 600% return of investment. In college, i took up export management in CSB, i always wanted to trade goods domestically and internationally after I graduate. When I was in college, bought buy and sell paper and look for cheap goods that I could sell online. I remember buying a nokia gadget that lets you make your laptop have a call and text function. I sold it online through www.ebili.com.ph, that was my first experience of selling online. Since then I ventured in a lot business endeavors directly and indirectly by investing in companies. At present, I have a plant nursery business. My clients are schools, golf resort, gardeners and farmers. But despite my entrepreneur spirit which I attribute from my mom, a serial entrepreneur herself, I still lack something as an entrepreneur and by evaluating myself, i could pinpoint the things I should work or improve to be a better entrepreneur. My total score in the evaluation is 118 points out of the total 140 points. Well, though I have a high entrepreneur potential, I managed to evaluate my weaknesses as an entrepreneur. But before I discuss my weaknesses, I would like to point out my strengths. Strengths 1. Passion - I consider being passionate in business very important. I know a lot of people who venture in business without having a passion and they don't end up successful. When I venture in a business, I make sure that I am very enthusiastic about it and know everything about it. You should know your business more than your clients. You should convince your client to buy your product because they are interested with it. 2. Solution - When venturing in business, there is a reason why you are getting into that business, its either you got frustrated that nobody is offering the product or service and by accidentally creating a new idea. Whenever I venture in a business, I make sure I solve a problem of future clients or create a demand on what they might need. 3. Observe - I always observe what is needed to improve my business either consulting experts or researching. I like observing what is happening in my business because usually, the small things that matter have a great effect on your business positively or negatively. Weakness 1. Communication skills - Iam not good in speaking in front of people, I pretend to be. I am not good in pitching a business plan. I am not good at writing papers properly. And lastly I am not good at convincing clients in closing deals. 2. Networking - in business, you need to have networks to connect with other entrepreneurs. I am not really good at this, except in joining organizations like mba class and hobby group clubs. I still need to improve my netwoking skills. 3. Leadership - i was once a captain ball of my varsity team, but our team had a faction between the luzon and visayas/mindanao players. I was unsucessful in uniting the team. I guess, I am not a leader by nature but a follower. I considered myself as role player always. But somehow i need to improve my leadership skills so that people will have someone to follow in the workplace.  (Leadership can be learned.  I guess you just have to work on your strength.  3>

Factors that should make a Successful Entrepreneur by Marlon Pizarro - AGSB Clark

Before i was sent here in Clark, Pampanga to manage one of our business, i was working in Dasmariñas and Bacoor, Cavite handling our two gas stations and one motor hotel. Back in college, i was a constant student leader and fortunately, end up as our school's Student Executive Council President. I also do lay-out and graphic designing on the side (made steamers and billbaords) and sometimes host events when i got a free time.

 

Upon taking the entrepreneurial test, the results caught me off guard. i was expecting a high result but any of my personality traits did not pass through even the average level. Just sad.

Achievement Striving

It's says on my result that i place slightly less importance to my goals. When i was backtracking what i've been doing, it all suddenly struck me. Yes, i have set my goals before but have i've been eyeing it from the start or i get easily distracted with my environment specially my peers? Drinking, partying and socializing dominated most of my after graduation life. This result should serve as a heads up for me if i want to be successful before reaching my 30s.

Industriousness

The result says i have a low level of handling pressure or stress but i always thought that i get my brain juice going when i'm cramming and i know i have already tested myself on this. haha. Maybe i can be better if i avoid pressure instead and lately i also noticed that handling stress really gets me on my peek. i have been depressed because of this and being depressed only proves that i am not good at handling stress.

Passion

i am not surprised i have a low level of passion. The business i'm handling now is not out of what i want. it's a family business, i have to like it, love it and do it. i also don't base my decisions on what i feel emotionally because i believe that it is a form of weakness and could destroy the professional decision i am always rooting for.

Taking Control

I was speechless when i read the result. Everything that was written is correct and all me. Even though a lot of people see me as a leader, i often doubt myself. i'm always scared of the "what happens next". I'm only confident if i can clearly see the outcome of my decisions, i know, contrary to an entrepreneur, i'm not a good risk taker. i often try to reduce risk before jumping to it.

Creativity

For a graphic/lay-out artist, i got creativity as my lowest!!! i can't believe it at first but i thought, creativity doesn't mean someone is good with colors or designs. Creativity means that a person can innovate ideas and think things through in a new way. I admit it, i always go for "what is in the book" and traditional acts, maybe because i was thinking that these acts have been done and tested and the results are good. Making new ideas or acts gives us risks and like in my "Taking Control" part, i am not good with risks.

The results made me realize i have a lot to improve in order for me to be a successful entrepreneur. it also gave me hope that these traits are trainable and achievable. Yes, i was shocked and sad when i saw the results but it also motivated me that growing and progressing is a never ending process. Someday, with this guide, i can say i am successful.  (sometimes test are not very reliable  3)

--

MARLON AARON H. PIZARRO

DIRECTOR / ERT-ESH COORDINATOR

Safety Officer

Unit 701 Alabang Business Tower, 1216

Acacia Avenue, Alabang, Muntinlupa City, 1770

No. 27 Lily Hill Plaza, C.M. Recto Highway,

Clarkfield, Pampanga

t:  +63.2.556.8121   ALABANG

    +63.45.499.2228 CLARK

f:  +63.2.556.8267

m:+63.917.544.7456

e: marlonpizarro.mepconphil@gmail.com

Factora Paper - by Jose Tiburcio Canlas - AGSB Cark

Sir, here is my factor paper. thanks.  - bong canlas

Factor Paper

By: Jose Tiburcio S. Canlas

There have been two instances in the past when I was given the opportunity to establish and operate businesses of my own.  First, I was enticed to put up a CPA Review School.  Second, I decided to practice my profession through the establishment of my own accounting firm. Both businesses were short – lived and did not succeed.

After a short stint at Punongbayan and Araullo, an accounting firm and then a member of Ernst & Young International, I was invited to teach in various CPA review schools.  I have observed that the review schools where I was affiliated were earning good money and I was one of the reasons why reviewees enrolled in these review schools.  A few years after, the thought of establishing my own review school started bothering me.  I had an established name in the academe, enough capital to start a business venture, and I believed then it was easier for me to entice students to enrol in my own review school.  So, in the first semester of 1995, I officially opened my own review school.  The first semester was good but because of operational problems, I decided to shut down operations at the end of the second year.

For the years that followed, I got employed in private corporations, handling accounting and audit work, and moving up from supervisory to managerial positions.  Along the way, I have met various business owners who later would become my inspiration and motivation in putting up my own accounting firm.  So, in the first quarter of 2001, I officially started my accounting firm.  The firm instantly grew with the coming of more clients usually due to referrals from existing clients.  The growth was very fast and I was not able to catch up with the increase in the volume of work.  Consequently, the quality of my professional services declined and in the second quarter of 2006, I stopped the operations of my firm.

Looking back, I can say that the qualities of an entrepreneur that I possessed and which led to the establishment of the above – described businesses were:

Dream

I have heard stories of successful owners of colleges who started as operators of review schools.  They have also ventured into other businesses that made them even more successful.  I have dreamed of becoming just like them.  So, I had to get out from my comfort zone.  I decided I should not be a CPA reviewer only but an owner of review school.  I decided I should not be an accounting or audit manager only but the owner of an accounting firm.

Decisiveness

When I decided to put up an accounting firm, I knew I was leaving a quite comfortable work.  If I stayed, I did not have to worry on funds to pay for my daily expenses, rentals for an office, salaries of staff and not to mention company – paid telephone lines and gasoline.  So, it really took a will power to leave one's stable job and venture into a business that was still uncertain to succeed.  The difficulties of starting all over again, organizing and providing capital for the business did not stop me from establishing the accounting firm which I planned for.

On the other hand, the qualities of an entrepreneur which I lacked and which led to the closure of the said businesses were:

Attention to Details

Attention to details is very important especially in managing the operating expenses of a business.  In the case of my review school, the biggest operating expense was that for the space rentals.  A continuing two – year lease contract was not appropriate for a starting review school.  Full capacity occurred only during the first semester because of the greater number of students graduating in May.  There would normally be less number of enrolees in the second semester.  Instead of a continuing two – year lease contract, I should have opted for a lease agreement that was renewable on a per semester basis.

Fast

I was not fast enough in providing the demands of the business.  In the case of my accounting firm, a few months after I started, the number of clients materially increased resulting to the lack of employees who were competent to perform the services demanded. I just found myself the only person capable of doing the services demanded, while my salaried employees were just waiting for me to accomplish the work needed.  I was spreading myself too think that the quality of services started to dwindle.  There were delays in the preparation of tax reportorial requirements.  Dissatisfied clients then started to disengage and opted to transfer to other accounting firms.

 

Dedication

The time I devoted to the business was adversely affected by my personal relationships and commitments.  I should have realized by then that to take the business off the ground, it needed the full commitment and close supervision of the owner.  As I got distracted with a lot of things, I was not able to contain the fire burning within me when I started the business. 

Right Motivation

In establishing the review school, I had the wrong motivation which was earning more money.  What I had in mind then when I was still a CPA reviewer in other review schools was that I was the one bringing students to them, and thus, the one bringing in money for them.  It was the wrong belief of enriching other people instead of enriching myself.  So, I decided to put up my own.  It could have turned right if the intention was to provide an exceptional preparation for the reviewees to help them pass the CPA board exams.

Looking forward, I still dream of putting up and operating my own accounting firm, this time, as a more disciplined entrepreneur, taking into consideration the good qualities of an entrepreneur which I have not applied in my previous businesses and armed with management skills I learned from my MBA subjects and the best practices shared by my colleagues. 4

Factor Paper by E Timbol AGSB Clark

SESSION 4 ASSIGNMENT

Factor Paper

In Partial Fulfillment of the Course Requirement in

ENTREPRENEURSHIP

Ateneo-Regis MBA Program

Ateneo Graduate School of Business - Clark

Submitted to:

Prof. Jorge Saguinsin

Submitted by:

Elizabeth Carlos-Timbol

Date:

March 7, 2014

Ever since I was small, I always wanted to be an entrepreneur like my father.  He was a businessman, who at such a young age even before turning 30 years old, he was able to establish businesses on his own or some, with partners.

Back when my siblings and I were just young kids, our  parents would give us incentives during summer.   For example, if we will help clean the house, our parents will give us salary each time we helped in cleaning or in gardening.   When we reached highschool, if we helped in any of my dad's business, he would give us salary.   Nevertheless, my parents would make it a point that we will not be the strict Chinese-type of business-minded family who is "all work and no play".   

My parents would make sure that we would enjoy our summers, in our childhood and teenage lives.   I guess, it is one way of instilling discipline and inculcate in our minds indirectly to love the business world.   My mother used to be a teacher back  at a time when being a teacher was highly regarded as a very noble profession. However, as our family was getting bigger every year, reaching 14 children, my mom decided to become a full-time housewife, mother and at the same, doing business on the side without leaving our home.  She would be the cashier for those people paying electricity which we were the supplier.She would be the neighbors' dollar exchange person to go to, also at a time when there were only few establishments changing dollars to pesos, something that banks were not so aggressive at that time.

Getting high scores, reaping awards and achievement is no longer a surprise to me.  I have always been competitive in nature and you could see that in my aggressiveness, so much so that I was actively engaged in sports from elementary to college, being consistently a varsitarian that represented my school in inter-school competitions and winning, too.

As a student, I am quite the industrious, Type A kind.  I really work hard even I could afford to just simply sit back and relax.  But I didn't do it that way, I was hungry to explore and experience a lot of things,  which basically got me involved in a lot of academic and extra-curricular activities that my day would start as early as 4am, training for either the swimming or basketball team and spend the rest of the day in the classroom or in various student organizations one of which I was the founding chairperson (Ley La Salle).

Looking back now, all these experiences honed my leadership and people skills that one cannot simply learn within the confines of a classroom.  So when I finished college, it was already innate in me to work in multiple jobs that multi-tasking is but second nature to me.   I can work very well under pressure and would like get things done fast and efficient, and hating it when things are not done the right away, as I know it causes others' work to get delayed as well.

I was wondering why I got low score in passion.  I am passionate with things I voluntarily get myself involved in.   As my personal mantra "Ready, Fire, Aim!" goes, I never stop not until I get to achieve my aim.   I would "ready" and "fire" because of my entrepreneurial spirit, such that I would start the business even some things are not yet perfect.  Because I believe that no matter how you prepare for everything, you can't perfect something until you see the flaws and you don't get to see the flaws until you start it.   When I start things, I get passionate about it, that is why I get angry within reason, when things are not done accordingly as planned.

Taking control is something I put premium on.  Because in any company, there has to be a leader who would always  give the go signal, pretty much as what an entrepreneur would: taking the risk already and at the same time, ready to take the blame should some things fail or does not necessarily go as planned.   And I don't agree  in the saying that one will take the credit in yourself for positive results and if negative results, you will blame external factors.   That is exactly why the role of a leader is difficult as he or she is the risk-taker and takes full charge of everything.

Creativity wise, I am always innovative especially in systems and procedures which are needed in every new business in order to jumpstart its operations.  There is a huge  difference between being a boss and being a leader . I am, by nature, a leader and not a boss.  As that famous quote by E. M. Kelly goes, "The difference between a boss and a leader: a boss says, 'Go!' -a leader says, 'Let's go!'."

Being action and results-oriented, I'd rather do something productive instead of just talking, find solutions than magnify the problem on hand.   It annoys me when things are just purely plans and people talk theoretically as if they are the most intelligent and experienced beings on the planet, wherein I fact they haven't proven anything.  One has to be credible first based on a proven track record.

Based on Timmons Model, I am team player as I let people shine and give them proper credit to whom it is due.  This is the only time I take the back seat.  I only become visible when problem arises.  Otherwise I'll  let my  people going about their jobs.   Even as I keep exploring many business pursuits as a form of adventure for myself, I also have my share of failures and losses, but not enough to demoralize me.   I start at with minimum exposure while I'm trying to learn the new business.  When things are getting ready, that is the time I shift to next gear to aggressiveness.  Otherwise, if I don't see any potential or future, I'll close it but I don't easily give up. I'll maximize things first as I always see opportunity for every disaster that comes along.

I am the type who seeks new business opportunities from an existing business, hence its expansion becomes a chain or at least related.   For example, in many establishments we operate, we hire the services of  a security agency for a good deal of money.  Why not put up your own security agency and earn this good deal of money by being a supplier to some of your own demands?

In the real world, being streetsmart trumps being bookish.  I go for common sense.   I have acquired  businesses who are losing and turn them around into profitable ones.
One has to be diversified in business because there are businesses than can easily be duplicated, like the bottled water industry.   Twenty years ago, bottled water is only popular in European countries.   Fast forward ten years, it become a permanent fad, and water refilling stations mushroomed everywhere.  That is why you now have to be fast in implementing ahead of others, especially where technology is involved.

 .
While I was going through the "Introduction to Entrepreneurship" slides, I remember my term paper regarding "The Economic Impact of Small and Medium Scale Enterprises".  It has many similarities in my views . It's what inspires my advocacy of "Go Negosyo" where you create jobs and livelihood to contribute to our country's economy and proclaim with full conviction in your heart that your country is indeed your business.

By the time I turn 50 six years from now, I aim to be billionaire!  That is my "20/20 Vision". 4

APPENDIX

50 Item Entrepreneuralism Questionnaire Results

Personality Trait	Low   Fairly-low    Average    Fairly-high  High	Score
Achievement Striving	llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll	44
Industriousness	llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll	45
Passion	llllllllllllllllllllllllllllllllllllllllllllllllllllll	29
Taking control	llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll	44
Creativity	lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll	38
Successful entrepreneurs are likely to score highly in many, or even all of these measures, whereas unsuccessful entrepreneurs or those unsuited to entrepreneurialism may express lower scores on many of these measures.   Achievement Striving Achievement striving is a person's internal motivation to achieve outstanding results and their propensity to work hard towards goals. A score of 44 indicates a high level of internal motivation to succeed. You are more driven than the majority of people when meeting goals and striving for achievement. Your work is of very high priority, possibly even at the expense of your own work life balance at times. You are very likely to go the extra mile, and/or undertake additional responsibilities. Despite your high motivation, you may feel that you must achieve even higher results, rarely being satisfied with your own achievements, causing you to strive ever onwards. Industriousness Industriousness is a person's level of persistence, resistance to stress and self-discipline. A score of 45 indicates a high level of industriousness. You are likely to thrive in stressful, challenging situations, possibly finding laidback environments boring. You will have a strong advantage over most people in high pressure environments. You are very unlikely to become distracted or procrastinate, instead opting to continue until the job is done. You are very likely to put in extra work or extra hours when the opportunity arises.   Passion Passion refers to an individual's emotional intensity, enthusiasm and emotion based decision making. A score of 29 indicates an average level of passion. You use emotional factors as performance enhancers as much as most people. You show about as much enthusiasm for your work as most people. When making decisions, you are likely to use a mixture of intuition, emotional intelligence, rationality and logic. Inspiration, motivation and emotional intelligence are about as important in facilitating job performance as other factors. Taking Control Taking control is related to the psychological personality theory of "locus of control", the extent to which individuals believe they can control events that affect them. A score of 44 indicates a high perceived ability to take control. You are very confident in taking control of situations. When positive outcomes occur, you almost always credit yourself, but when negative outcomes occur, external factors are almost always blamed i.e. luck, chance etc. Creativity Creativeness is the use of imagination to develop and implement original and innovative ideas. A score of 38 indicates a fairly high level of creativity. You show a relative preference for generating new ideas and handling complex problems. When addressing issues, you tend to focus on delving deep into the issue rather than focusing on superficial aspects. You are more likely to use abstract and lateral thinking than conventional and traditional thinking when making decisions.

ENTREP Francis Butiong Factors Paper

Francis Butiong

Entrep

Prof. Jorge Saguinsin

Factors Paper

50 Item Entrepreneuralism Questionnaire Results

Personality Trait	Low   Fairly-low    Average    Fairly-high  High	Score
Achievement Striving	lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll	36
Industriousness	llllllllllllllllllllllllllllllllllllllllllllllllllllll	29
Passion	lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll	35
Taking control	lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll	34
Creativity	lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll	33

 

Business used to run in the family. When I was younger, my mom managed a small drugstore/bakery. I wasn't really interested in business or anything outside my industry; which is the art industry. I was, and I guess, still am an artist at heart. But then, I don't want to be an employer for the rest of my life. The only thing that's holding me back from actually taking the risk of starting my own business is that I don't have that much experience when it comes to managing. I took the exact same Entrepreneur test that Trizza took.  Taking the test made me think really hard about how I am career-wise or how my mind works.

Based on the results, my strongest point is 'achievement striving.' This means that getting a high score on this area reflects how motivated a person is to succeed. I believe that deep inside, I know what to do to succeed in life, I just haven't found the motivation to actually get out of this limbo that I am in right now, which is known as the "quarter life crisis" stage. I am eager to do something; I just haven't figured it out yet. But once I do, I'll go on full force and take the risk, and get on the train. I think that this factor is the driver of all other factors included in becoming a great entrepreneur.

Getting a high score in 'passion' means a person's decision is heavily influenced by their emotions. Meaning, the person shows higher enthusiasm for the work that they're doing than many people. I believe that I'm an enthusiastic person. Most of the time, I get enthusiastic at work. And most of the time as well, I notice that even my co-workers go along with my enthusiasm. I think that this plays an important role in becoming an entrepreneur because you have to have that positive aura/way of thinking to make your team motivated enough to tackle the tasks that each day brings.

I was wondering why 'creativity' is not my strongest point, considering that I'm an artist. But then, being creative in 'art' is different from being creative in coming up with innovative ideas/products/etc. Art has no limitations. I can paint or draw whatever I want. But being creative when it comes to coming up with new ideas has its limitations. But then again, being creative doesn't mean that it's only limited to thinking of ideas and art. Being creative also means that when handling problems, you generate different ideas on solving them. You use abstract and lateral thinking than conventional and traditional thinking when making decisions. And as I mentioned last meeting, a person tends to be creative when under pressure or when certain circumstances arise.

Getting a fairly high score in 'taking control' means that a person is relatively confident when taking control of situations. It is also related to the psychological personality theory of "locus of control," meaning an individual believes they can control events that affect them. This is something I'm still honing. Honestly, I am not confident that I am capable of leading a team or taking control of a big situation because I still don't have enough experience. There have been chances of me getting promoted to team leader, but I didn't take them because I wasn't confident with the thought of going to school at the same time, working full time. But there have been instances when I took over our team lead's job and it felt really nice managing the team. I like the feeling of having the authority but yet not abusing it.

I got an average score in 'industriousness.' This means that it's a person's level of persistence, resistance to stress and self-discipline. I will paste what the website says about getting an average score in industriousness. "You may handle stressful or challenging situations about as well as most people. You may at times work well in high pressured environments, but not necessarily all the time. You may become distracted or procrastinate about as much as most people." This, I believe is true. There are times when I work best under pressure; to the point of giving up is not an option. There are times, well, recently I have been procrastinating. And this is because I still don't know what to do in my life. I have plans, but I don't know which one to prioritize.

I believe that the 5 given factors play unique roles in being a great entrepreneur. And taking the test made me realize that I am capable of being an entrepreneur; I just have to get out of this limbo, stop procrastinating, and start taking risks while I'm still young. I just want to share this quote I read somewhere "the moment you think of giving up, just think of the reason why you held on for so long." 3