Other Technological Business Incubators in the Philippines...

My post on only existing business incubator was corrected.  I decided to post this as another blog.  My guess is that the comment was sent by rbf? (from DOST)  Thanks for the correction additional information.  DOST has been praised for its efforts in innovation (and also entrepreneurship).  Thank you RBF (is my guess right?)

Anonymous has left a new comment on your post "The Only Formal Business Incubator in the Philippi...":

just to add po. There are more TBIs available not just in NEC. We also have a DOST Open TBI just beside ASTI, CP Garcia St. also inside the UP Campus. Ayala has a Technohub that is located within Commonwealth Avenue. And I believe they also have one in AIM.

There are TBIs also in other regions like the one we have in Cebu (http://www.iknowryt.com/2011/03/28/cebuinit-up-cebu-dost-tbi/) and also in one Tacloban.

For manufacturing companies who are start ups you can also use the TBIs available at DOST research and development institutes. Like if you are under metals and engineering you can use MIRDC's TBI and if you are on food processing you can use FNRI's and ITDI's TBIs. You can use their spaces and their available technologies/equipment with minimal fees because you have to pay for the utilities.

But if you are a start-up and still producing small volumes this is better than investing right away with production plants and equipment. Once you get bigger you can transfer your business to your own production area.

And lastly just to inform everyone, the DOST is inviting Filipino start-up companies (operating for less than 3 years)involved in the following fields: biotechnology, nanotechnology, ICT, electronics, material science, robotics/mechatronics or combination thereof, to join the Search for 2nd Filipinnovation Award in recognition of the exemplary technological content and market viability as well as high potential socio-economic impact of these companies. This is ongoing in all regions. Awarding will in November this year.

China to be the Largest World Economy by 2016

Our generation needs an ENTREPRENEURIAL REVOLUTION.

This is a video from AOL which says that IMF predicts that China would be the largest economy by 20l6. That is not far off. But in the meantime, trade with China means loss of millions of jobs in the US.

What do you think are the effect of China's becoming the largest economy to the entrepreneurs in the Philippines? To the Philippine economy?

Do you agree with the prediction? What are the lessons that you learned from the China's sudden surge to economic stardom? (and conversely loss to the US?)

Business Incubator in the Philippines

Our generation needs an ENTREPRENEURIAL REVOLUTION.

Please find out more about the Enterprise Business Incubator, a partnership between University of the Philippines (National Engineering Center) and the Ayala group. The areas for incubation are mostly high tech like ICT, elecctronics, health and technology, food technology, energy and green technology.

Learn more from their set up/ program "Be Your Own Boss" (at a higher success rate and lower cost?) at link

www.enterprise.upd.edu.ph

There are other business incubators in the UP area.

Our Debate On Whether Entrepreneurs Are Born, Made, or Luck Captures the Essence of the 3 Masteries

Our generation needs an ENTREPRENEURIAL REVOLUTION.

The debate really captures, encapsulates the three masteries needed from an entrepreneur:  self (born)  enterprise (made) luck (opportunity).  One of the class mentioned that he awoke to the realization that entrepreneurship is not just about learning the business (the made part) but the factors paper woke him to the fact, that the starting point of all entrepreneurship is the deep understanding of oneself.

The luck (suwerti, opportunity, serendipity) part came to me when I was asked by a Dr (Agdamag from Cardinal Santos) who asked me that if he practiced all the things that we discussed in class or all that he read on Entrepreneuralism, will he be a billionaire just like Bill Gates.  Tough question eh.

What do you think?

Mobile Payments would grow globally by 48.8% from 2010 to 2013

Our generation needs an ENTREPRENEURIAL REVOLUTION.

World Payments Report 2011 indicated that payments using mobile devices would comprise l5% of all global financial transactions.  This would reduce further needs for check payments and credit cards. The growth from 20l0 would be from 4.6 billion in 20l0 to l5.3 billion transactions in 20l3.

Check payments account for still l6 per cent of total payments;  credit cards account for the highest at 40%.  But cashless payments using mobile devices rose from $48.9 billion in 20l0 to $86.l billion in 2011 or 75.9%
increase.

l.  What do these developments indicate?

2.  What are the opportunities that you see.

Factors Paper by CG R090205

FACTORS PAPER
BY: R090205

I was once told by my beloved father when I was still studying in college that for someone to be successful in business, one must have the following traits and qualities: "sipag, tiyaga, suwerte at kakilala." Upon hearing it from my father, I was in awe and quite amazed that among all the traits that you could have, how come "luck" and "contacts" would be considered equally important as being determined and hardworking. At that time, I must admit, I was not in the position to doubt even a bit to the things mentioned by my father not just because of my respect of him being my father but because I know for sure and I can personally attest that they have those qualities and traits that is why our shoe manufacturing business is successful as what it is right now.

Upon knowing that we need to do this factors paper, I have asked myself if there is anyone that I need to use as my role model in determining different factors to be successful in business, whom should it be? I immediately thought of my parents more than the known entrepreneurs such as Lucio Tan and Henry Sy. Besides, if I need to know the traits and qualities that I have, it must be coming from my parents as well as they were the one who raised and taught me. Maybe it runs through the genes as they say.It might be quite obvious that I have been telling mostly about my parents, this is because I could not help it but to be proud of them.

My father was a technical and vocational graduate as an electrician and worked as bus mechanic and my mother was only an elementary graduate and worked as bus conductor. When they decided to build their own family, my father took his chances abroad as an overseas contract worker on various countries in the Middle East just to support his family. After more than ten long years, my father longed to be with his family so he decided to stay here in the Philippines and tried their luck in venturing into business. As residents of Marikina, but not true blooded Marikeño, they tried the shoe manufacturing business in 1990. They started with a meager capital of Php 50,000 with three workers consisting of one "sapatero," one "mag-aareglo," and one "mananahi." Their start-up was never easy and they even failed. There was a time that they almost give-up, however, because of their perseverance and faith in God they were able to overcome all the struggles they faced and was able to rise to the occasion. They were able to learn the ins and outs of the business and through hardwork, perseverance and dedication, success came naturally. From three workers, now, they have more than a hundred employees and still continue creating more jobs.

With this, it truly pays to learn from their experience and know the qualities and traits they possess to become successful entrepreneurs as they are right now or even exceed what they have accomplished. Below are the factors I have learned from my parents through the years:

1.      Faith in God

This is one of the most neglected and yet most important among all traits to be successful entrepreneur. With this trait, all things will be possible and even makes you always grounded. Having faith in God will lead you to whatever goal you have and will keep you away from doing evil things that you will regret someday and worst, will lead to your own failure.

2.      Dream BIG. Be ambitious!

There is nothing wrong to be ambitious. If you are going to dream, dream big! As they always say, "Mangarap ka!" In order for you to have directions, you must set first your goals in life, as the lyrics of the song of Bruno Mars, "I wanna be a billionaire so freaking bad!"  If you want to be a billionaire, so be it. If you knew some rags to riches stories, most of them started as a rank and file employee and dreamt of having their own company and they did. Like the stories of my parents who started as "mekaniko at konduktora ng bus", and now, they already have their own companies. Take also the cases of known billionaires like Henry Sy and Lucio Tan who started as simple employee and now having world renowned companies.

3.      Start Small

Even though it is essential for all aspiring entrepreneurs to dream big, this does not necessarily mean to start the business big. The bigger you start, the higher you fall, unlike when you start small, the lower you fall. It is better to start your business small and aspire to make it big, than to start big even if you are new to the business, there is a high risk of failure.

4.      Work, work, work

Olongapo City is known to be successful because of their hardworking people as their known slogan goes, "Bawal ang tamad sa Olongapo." Success comes after hard work. It is not easy to achieve success hence; you should work very hard for it. No one else will do the work for your success but only you.

5.      Learn, learn, learn

You were not born to know everything so you have every room to learn. Learning is part of every success and innovation comes with learning. Being an entrepreneur takes a never ending learning especially in this world full of changes and ever evolving environment.

6.      Accept failure

Most of the times, success comes after failure. It means you have to taste a few failures before you can reap success. However, this should not stop you from pursuing your goals. No matter how many times you failed, the most important is that you rise to the occasion by accepting your failure, learn from it and move on.

7.      Self-discipline

What makes Singapore a very successful country is the discipline of the people. Just imagine Filipinos having the same discipline as people in Singapore, how successful Philippines could be. Running a country is like running a business, being a leader you should set as an example to your followers, same goes with business owners, you should lead by example to your subordinates. Having self-discipline will make people punctual, efficient and more productive.

8.      Care for others

Part of being successful is caring for others. As the saying goes, "It is better to give than to receive." You should give back to God whatever blessings you have received by sharing it to others. Do this with all of your heart and you will receive more than a hundred folds of blessings.

9.      Learn to save and value money

Spending money is much easier than earning it. You should learn how to value your hard-earned money so you will save some and be wise in spending the rest.

10.   Love what you do

You must have the passion to do the things that are necessary to make the business successful. When to choose the kind of business to venture in, always bear in mind in considering things you love most to do because you will always have fun doing it and you will never get tired of it.

I am what I am today because of my parents. I was raised and taught of the above traits and qualities that will eventually prepare me to handle my own business. True enough, as I was given the opportunity to handle my own business, I have tried to apply some if not all the traits I learned from them. However, there are things that I'm learning throughout the experience. As the saying goes, "experience is the best teacher." Every day is a learning process for me. I have learned things from other people just as I have learned from my parents. Even I consider myself now as a businessman; I'm still long way to go to be considered a successful entrepreneur. I was also taught to always think positive, so even I'm not there yet… but I'm getting there! Hopefully... :)

 

JCB's ( R090209) Factors Paper

The Journey Begins: A Hopeful Entrepreneur's Introspective First Step

By

JCB

(Student No. R090209)

The author's interest has already been piqued.

At first, he flew in blind to this course, only having a vague clue of what was to come. Then all of a sudden, Professor Jorge Saguinsin, the teacher of the course, ends the first session by holding a debate over the proposition: "Are entrepreneurs born, made, or lucky?" Naturally, the students of the class welcomed the task and vigorously debated the topic on the floor. The results are still to be announced.

After that, Professor Saguinsin did not left (leave) his class off the hook. He continued the discussion on his blog. And the author has responded accordingly.

Now, Professor Saguinsin wants his class to accomplish a "factors paper" or a self-assessment test with the objective of the determining each student's suitability to be an entrepreneur.

For a course that has only had one class, so much has been done and needs to be accomplished. Quite action packed. Seemingly so much potential.

Considering that there is a new assignment, the author took the task seriously. And since the primary instruction is to test oneself thoroughly, the author decided to take not just one self-assessment exam, he took three.

The first exam, which incidentally was more detailed than the rest, was the Business Development Bank of Canada's (BDC) Entrepreneurial Potential Self-Assessment Test found in: http://www.bdc.ca/EN/advice_centre/benchmarking_tools/Pages/entrepreneurial_self_assessment.aspx

According to this online exam, the author has the makings of an entrepreneur. He scored extremely high with the Motivation and Aptitude criteria, which indicated that he had valid reasons and notable competence to be an entrepreneur. The author, however, only registered an average rating when it came to the Attitude metric. And this was mainly because of his perception of some things being beyond one's control. This of course runs contrary to the essence of an entrepreneur. After all, an entrepreneur should always believe that he can control EVERYTHING. Whether this is viable or not is not the point. The idea rather is that the entrepreneur will never yield to his environment. This indeed is an eye opener for the author.

Throughout his life, the author believed that he led a gung ho life. He thought nature or his surroundings could never come up with any obstacle that he cannot hurdle. And because of this, he always believed that his instincts always and without exception took the forefront. He was wrong.

This test proved that the author's perception of living a life of being totally gung ho was a mirage. It was a personal misconception, one which he has fueled over time. And looking back, he now sees that there were significant number of times that he should have leapt but didn't because there was lack of information. Of course, the author is not saying that he should be absolutely reckless. There, however, times in life that scant data is enough to make one leap.

In this instance, the author remembers the time when he was invited to join a fledgling HR & business consultancy firm years ago.  He said no because at that time the industry was dominated by multinational organizations. And he further thought that a local firm couldn't hack it. He was mistaken. Now, that firm has thrived and become successful. Its prime mover currently has a column in one of the more established newspapers in the country. Considering these developments, the author obviously, should have leapt then, but he unfortunately didn't. So in spite of his personal perception, that he lives on instinct alone, allowing his gut to make decisions, he after all, as the poet Shel Silverstein puts it, "walks a walk that is measured and slow."  

Indeed, an entrepreneur should never manage or conduct his business solely on data alone. Information is important, but gut feeling and instinct should also play roles. And in this regard, the author is still learning to act based on a mixture of deliberate thinking and gut feeling. Hopefully, as the course progresses, the author can discover that equilibrium.

The next test that the author took was fairly simpler than the BDC exam. And it was the Mentors, Ventures, and Plans (MVP) Self-Assessment test, i.e., http://www.mvp.cfee.org/en/selfassessskills.html.

The exam asks straightforward questions which all in all are only 12. This is significantly lesser than the BDC's 50 queries. The MVP Self-Assessment test has merit because the major traits and characteristics of an entrepreneur are touched and tackled, e.g., creative thinking, planning, research, communication, team building, and goal setting. And under this test, the author scored 31 points. The website itself provides the explanation: "You already share many key attributes of entrepreneurs. If you have not yet decided to become an entrepreneur, you should give it serious consideration." [Emphasis added]

Aside from confirming the results of the first exam that the author took, the MVP Self-Assessment test, in no uncertain terms, states that he can be an entrepreneur. More important, the result of the test urged the author to seriously consider being an entrepreneur. This means a lot. Because for the first time, the author has received confirmation that he does have what it takes to be an entrepreneur. Indeed, this couldn't have come at a better time.

For quite some time now, the author, even before enrolling in his Entrepreneurship course, has been asking questions. Up to when will he be an employee? Up to when will he be subservient? When can he have the guts to become an entrepreneur? When can he finally plunge into the exciting but unguaranteed realm of entrepreneurship? How will he fare in a world virtually unknown to him?

All these questions, though valid, are mind numbing. Thinking about them altogether gives the author fits. But, with the result of the MVP Self-Assessment test, he now knows that he should seriously think about being an entrepreneur. The outcome of this exam provides the author with some degree of confidence which he never possessed before. He now sees the world of entrepreneurship not as frightening mystery, he views it as a frontier full of promise and waiting to be conquered.

The last test that he took was designed by Entrepreneur Alliance.Org. And this exam can be found in: http://www.entrepreneuralliance.org/index.php?id=108

Again, this test is not as extensive as the BDC exam, but it has merit, too. And after taking this particular quiz, the author scored a 94 out of a possible 100.

But, it wasn't the high score which made this test special; it was the presence of some questions not present in the previous ones. For instance, the exam asks if the author's family will be supportive of his decision to be an entrepreneur. And corollary to this, one query asks whether the author is ready to work 50 hours per week on a regular basis. These are important considerations because the author now has a family of his own. The absence or possible dearth of quality time with family will be an issue.

Due to this test, the author realized that being an entrepreneur, at this stage in his career, will affect his family. Most likely, this radical shift will force the author to spend more time rearing his nascent company, whatever it may be.

But, being family man, spending time with the family is primordial and paramount to the author. There's nothing on this Earth that is more important to him than being with his wife and son. Thus, if he should decide to be an entrepreneur, he will have to consult his family. If they won't support him, then he'll have to wait until the time that they would say yes. Of course, this does not preclude the author in trying to sway his family to believe in the advantages of having one's own business. Patient persuasion shall subsist.

After taking all of these tests, one glaring finding became apparent and undeniable: the author does have what it takes to be an entrepreneur. The author would readily rejoice except all these means nothing if they cannot be proven. As far as he is concerned, rating high on a test doesn't necessarily make one an entrepreneur. No amount of psycho-evaluation or interview can predict if a person can indeed become an entrepreneur. And there is no oracle that can say that a person who rates high in these tests can become the next Henry Sy.

The first step therefore for the author is to accept with utmost humility that he has a lot to learn when it comes to being entrepreneur. In this regard, he must try to absorb as much as he can from his Entrepreneurship course. He then should be observant of the latest developments in world business and politics. The author must also look at international and local economic trends. He should remember to pray to his God. And of course, wishing that lady luck or the Fates be kind to him wouldn't hurt as well. It is only when the author does all of these can he indeed start his journey on being an entrepreneur.

All in all, the author, through the series of tests that he has taken, has learned so much about himself. If it were not for these exams, then he would most likely have developed more false notions about himself. Now, he knows his potentials and weaknesses. He has been grounded in reality. This is important because before trying to soar, the author must know the soil that he is stepping on. And only after doing that, only after being exposed to his faults, frailties and foibles can the author indeed soar. By being cognizant of weaknesses, the author will know how crucial it is to stay afloat, because if he fails, he'll hit the Earth with a big thud.

The author in a short span of time was forced to look into a mirror. He was virtually coerced to be introspective. Normally, he would detest such tyranny, but in this case, he'll make an exception. He's glad that through this course, he has learned more about himself. And it is not every day that this can happen. This alone makes the author grateful.

So much has been learned and realized. And the author accepts all of these with humility.

This course, as mentioned at the onset, now commands the interest of the author. He's ready to be directed. 

Factors Paper by R090206

What factors do / don't I possess that make / do not make me a Business Entrepreneur? 

By R090206

In doing a self assessment, I used "Go Forth Institute" questions as my guide. They divided the factors associated with success in business into four: Human, Psychological, Sociological and Financial Factors.

 In the Human Factor, these are the knowledge and abilities we develop through education, training and experience. It is also subdivided into five areas: Technical Skills, Business Skills, Education, Experience and Wisdom/Judgment.

My strength in Technical Skills lies mostly on my computer knowledge. I scored high on my computer and Math skills. I also have extensive experience on team work, internet research, synthesizing information and diagnosing computer problems. However, I severely lack experience on Telephone survey or face-to-face research, negotiating, Laboratory Skills, and fundraising activity.

Business Skills. It is in this part that I realize what I lack regarding skills and experience in topics such as Money Management, Marketing, Operations Management and Managing a Business. A person with strong business skills has a higher probability of success. Having work as an IT since I graduated from college, I have an idea on how these systems work. I created some of them. But I lack personal experience on using these systems on my own. As these are skills, I know that these can be learned.

Education. In research, there seems to be an association with business and education. A good education increases our confidence and self-esteem, and ability to interpret information which makes us aware of business opportunity in our day to day lives. Having finished my degree as a Geodetic Engineer in the University of the Philippines, I believe that we are trained to be critical in our thinking and aware to what is happening in our environment. Taking up post-graduate studies in Ateneo increased my awareness to those things even further.

 Management Experience. I have management and technical experience regarding my line of work. I have been able to manage as many as twenty persons as a team leader. I have also been part of a steering committee while I was in college. However, I don't have entrepreneurial management experience.

 Wisdom and Judgment. Wisdom is the gift of insight. It is the summation of all our experience. It enables us to determine what should be done in a particular scenario. In taking the test, I can see that I have enough experience to be successful in it. I'm fine in making mistakes and make sure I learn from them. However, I need to work on my views of people who share a different opinion than me.

The next factor is the Psychological Capital. These refer to the mindset or the attitudes, traits and characteristics associated with success.

 Passion. I almost scored perfect on this one. I love my work, I don't even consider it work but something I do for fun. I'm an optimistic person and see an opportunity in every misfortune that may come. I know that nothing can stand in my way to success.

 Faith and Commitment. I have to say that I have faith in what I do. I value other people's opinion but I trust myself in doing the right thing. I always keep my commitments as much as I can. And even though the odds are against me, I have faith in myself and I don't fear failure.

 Tolerance of Risk and Uncertainty. I believe that my business decisions are the best I can make with what information I have. I love doing something spontaneously. However, a stable income is important to me. Knowing when my next paycheque and how much is it comforts me. I think I need to work on my risk tolerance with regards to business. Being an entrepreneur, risk and uncertainty is always part of the equation.

 Adaptability. With regards to my work, I am very adaptable. I have no problem with changing plans and schedule. I can improvise whenever there are obstacles to my goal. A good example is this paper I'm creating right now. Since there is a power outage due to the typhoon, I decided to create it on my celphone instead. With respect to business, entrepreneur should always be able to sense any change in the market. Change is the only constant thing in this world. Failure to recognize it and adapt will lead to the collapse of your business.

 Leadership. I enjoy working with people. I wouldn't say I'm a natural born leader but I can cope up. I setup goals and help others in the best way possible to achieve them. I always envision the future and find ways for me and my team to get there. My low point on being a leader is I'm sometimes irritated when someone is slacking off and doing their part. Most successful entrepreneur has a way to influence people. Being a good leader is important as the entrepreneur sets the vision where the company will go.

 Drive and Determination. I am a hard working individual. I believe we have to grab every opportunity we have. When I envision my goal, I really don't get discouraged easily. Entrepreneurs have a lot of challenges to overcome.  Having the drive to continue and being motivated separates a successful entrepreneur to a normal person.

 Energy. As I mentioned above, I don't get depressed with my mistakes. I use it as a driving force on what to do next. Envisioning success is where I get my energy from. Starting a business will take up a lot of energy. Knowing where to get your energy especially in your lowest point helps in your drive and determination, it also serves as an inspiration to people around you who may have exhausted their own energy.

    

     The next factor is the Sociological Capital. It refers to the network one may have which can help in his endeavor. Research has shown that a successful entrepreneur has a link to a strong social network. It has been theorized that the person may have access to information and experiences pre-venture stage.

 Family. I have a very supportive spouse. My parents once had a business so I can ask for their opinions on these kinds of matters. My in-laws have businesses right now. I believe my Family Network is one of my greatest strength and can contribute to my success as an entrepreneur.

 Social. I have friends which are entrepreneur. Some of them encourage me to start something and offer their help. Studying business even increased my network of friends.

 Professional and Recreational Network. I've worked with four companies since I graduated so I can say that I know a lot of professionals in my industry. I also play basketball and even have my own a band which helps in enlarging my network.

 Entreneurial Role Models. My family had a business before. So I can say that they are one of my role model as I've seen what it takes to put up a business. I have a close friend which started from scratch but is now enjoying life as an entrepreneur. I also know entrepreneurs in my target industry which can help me in my startup.

 Supporting Network. I have to say I score low on this one. I don't know any lawyers, bookkeeper, banker, corporate insurance agent and personally know suppliers in the industry.

 Last factor would be the Financial Capital. As of now, I can say I can start a small to medium size business with my current assets and credit line.

As I analyze the four factors, I can say that I have what it takes to be an Entrepreneur. I may score low on some but I know I can improve on these points. I welcome the challenges of being an entrepreneur and know that it will be my path to success! 3.5

Factors Paper by RBF R100125

What factors I do / don't posses that make / do not make me a Business Entrepreneur

In my current line of work, I have met and know a lot of entrepreneurs. Some started from small and became bigger. Somehow I was able to observe their qualities that make them successful entrepreneurs. Among all those qualities, here are the ones that I can relate to mine.

1. Passion

Passion is one of the most important characteristic of a successful entrepreneur. This is the driving force behind why entrepreneurs start with their business. Entrepreneurs love their work and they put in extra effort and time to make their business succeed. As for me, I always put in extra effort for what I do because being of service to others and seeing our client SMEs become successful with our assistance is something that gives me joy which goes beyond the money that I could have earned if I had worked in a multinational or a big company.

There are others who would ask why I have stayed that long with my job and would tell me to apply in higher-paying organizations like ADB or other international organizations. But sometimes people don't understand that life is not all about money. The knowledge and experience that I get from my work will surely help me to become a successful entrepreneur someday.

I am passionate in wanting and making our clients become successful. What more if I had my own business, I'm sure I will be more passionate for it to succeed.

2. Discipline

One of the qualities that entrepreneurs should have to become successful is discipline. To transform an idea into a business, you have to have the discipline to spend time in learning how to run a business and learn even the least fun parts. When you are the business owner, only you can keep yourself at work and there is no time for playing around. You should exert more effort in accomplishing your targets and your vision.

As for me I always see to it that I accomplish our targets if not exceed it despite our limited resources. I push myself to work even if there are times when I don't feel like doing it especially the type of work which I am not so keen about like coordinating and following-up with our clients. Discipline gets me going.

3. Determination

Determination enables you to keep on trying. Entrepreneurs keep on going when the going gets tough. Entrepreneurs did not get to where they are by chance. They are not discouraged by defeats because they look at failures as an opportunity for victory. Determination provided the dream that success was a definite possibility. As for me, I always believe that something can be done. I don't get discouraged easily. I always look at better ways to do things and would always think of solutions to problems. If I have started something I am determined to finish it no matter how hard it is and how long it takes.

4. Hard Work

Most successful entrepreneurs are multi-taskers. They have the ability to cope and deal with several ideas and projects at the same time. With various programs and projects that we are implementing, I am used to do multi-tasking. Being a mother, a wife, having two subjects in MBA Regis and working full time all at once really requires multi-tasking and hard work.

5. Open to New Ideas and Willingness to Learn

Entrepreneurs are open minded and prepared to listen and learn from everyone even from their suppliers and customers. They will always keep on searching for new ways to make their business better. Entrepreneurs know the importance of being on top of their industry and the only way to be competitive is to attain the best quality of product or service. They're updated with the latest technology or service techniques and are always ready to change if they see new opportunities. Like them I am always hungry for new knowledge and implement what better methods I learned and share it with the others. I am always open to new ideas and willing to upgrade my knowledge by knowing how to listen. I am never satisfied with my level of success so I continuously improve myself.

6. Intuitiveness and Innovativeness

Entrepreneurs are intuitive. They recognize the niche markets and business opportunities that others do not see. They also innovate and are able to start a business from scratch and devise ways to make something profitable out of what others might consider "nothing at all."

Sometimes during initial talk with our clients, I could already tell by the first look or taste of their products that they have the potential to become successful. Also in order for us to provide consultancy service (e.g. during cleaner production assessments) to these clients we should also think of innovative ways on how to improve their operation or reduce their waste. We are trained to look for ways to continuously improve the process and to innovate.

7. Focus

Entrepreneurs are driven and focused on making their businesses work, and eliminate any barriers or distractions in achieving their objectives. Successful entrepreneurs take every step toward the achievement of their goals.  For me I lay out my plans and think of strategies to achieve my goals in life. I would know which to prioritize in order to achieve my short term goals. I am focused on my goal so I do my best to achieve the best way I can.

8.  Connections/Networks

Entrepreneurs know how to build connections and are aware of the importance of networks. Successful entrepreneurs know their strengths but they also know their limitations and utilize people who have the skills that they lack. Entrepreneurs also know how to build relationships.  

I know my strengths and my weaknesses so I surround myself and work with people whose strengths are my weakness. When we visit companies that are not in line with my expertise, I bring with me experts of that certain field. Also, due to lack of sales experience, I know that I am not good at it. But sales and marketing is one of the major aspects in order to have a successful business. So when I create my business I know that I have to partner with somebody that is skilled in sales and marketing. But I can also use my current connections and networks now which I am continuously building and strengthening in case I would need it someday.

9. Resourcefulness

One of my strengths or shall I say advantage is my exposure to different SMEs and knowing what government agency to approach and get assistance from when I am ready to become full time entrepreneur.  Many entrepreneurs have already enjoyed this government services. All you need to do is to be resourceful and know what programs are available and applicable for you.

I tried three assessment tools from the internet and I passed two of it that tells me that I have the qualities of an entrepreneur. Starting with the qualities that I have and currently developing what I don't have, I am confident that I will become successful entrepreneur someday. My goal is to provide employment to Filipinos especially in the countryside.  All I need to do is look for capital, assess the market potential of the business, study its viability and then I'm ready to start.  I now have a business in mind, and hopefully this entrepreneurship subject will be the catalyst for me to start becoming an entrepreneur in the very near future.  

R100125

Factor Paper by JC M100048

What qualities do I possess or lack to become a successful entrepreneur?

by M100048

Before anything, I would like to make it clear that I really would like to become a successful entrepreneur.  I would take various personality tests in the past and would only believe the one which is most favorable to me or the test that showed results of what I think I should be.  For the sake of this paper, let me discuss now the result of  Jung Typology Test or MBTI I took a couple of hours ago.  This personality test thinks that I am:

Very expressed introvert

slightly expressed intuitive personality

moderately expressed feeling personality

moderately expressed perceiving personality

Overall, it described me as idealist  -- portrait of a healer.  To highlight a few points,  (1)  Healers present a calm and serene face to the world, and can seem shy, even distant around others. But inside they're anything but serene, having a capacity for personal caring rarely found in the other type  (2)  Healers have a profound sense of idealism that comes from a strong personal sense of right and wrong.  (3)  Healers are keenly aware of people and their feelings, and relate well with most others. Because of their deep-seated reserve, however, they can work quite happily alone. When making decisions, Healers follow their heart not their head, which means they can make errors of fact, but seldom of feeling.  (4) frequently they hear a call to go forth into the world and help others, a call they seem ready to answer, even if they must sacrifice their own comfort.

When I started my first business venture in 2008,  a relative of mine learned about it.  He was a businessman himself but most of his businesses failed.  However, he is a very successful corporate man.  He approached me and asked me what I am selling in the Christmas bazaar in our village.  I said Ready to wear stuff.  He made me sit down and he said his piece which made me pause for a long time.  He said that he has tried so many ventures in the past, some of them lasted for more than 5 years but most of them didn't.  He said that he stopped trying now because he realized that he has a weakness that inhibits him to become very successful in business.  And this weakness, he said, he can't overcome.  My relative thinks that this weakness is shared by our entire family ecause we were brought up in similar fashion.  He worries that if I follow his footsteps, I might only end up frustrated.  So I asked him what his weakness is.  He said that he has a big heart. Too big for a business man.   To stress his point, he then asked me if I usually feel bad whenever I achieve something while the others around me have not. I said yes.  It is true.  I do feel bad when I have money and others don't. Or when I eat expensive food and I see others who are starving.  Then my uncle said that what I just said confirms his belief that our family is not meant to be business people.  Because, he said, our parents raised us to think that we should pull everybody with us when we go up.  And in effect we never soared high because are are carrying too much weight.

The result of the personality test above supported my uncle's belief.  I do have a big heart.  Number 4 description above says:  frequently they hear a call to go forth into the world and help others, a call they seem ready to answer, even if they must sacrifice their own comfort.  In this Factor paper, this is where I want to focus on. Having a big heart was perceived by my relative as a weakness.  But is it really detrimental to my success? I believe that I have the IQ to be an entrepreneur, I have the risk-taking personality and I can be honed to be an entrepreneur.  I started my RTW business 3 years ago from scratch and I have 3 branches now.  That will more or less show you that I am a risk-taker right?  I am an accountant close to finishing my MBA so it is more or less safe to say that I have the business acumen needed to be an entrepreneur.

But the question that bothers me now is: do I possess THE entrepreneur's heart? 

What is an entrepreneur's heart anyway?  Is it made of stone?  That you won't care if others are harmed as long as you earn money?  I don't think so.  I believe that entrepreneurs are people who are good in identifying opportunities.  They are people who seize these opportunities in order to generate income.  These are entrepreneurs.  What will make you a great entrepreneur is when start to think of others too.  When you go out of your way to improve the lives of people you do not personally know.  Gokongwei candidly said in his 85th birthday speech "I have helped 50,000 families, that's not bad at all". True enough, an entrepreneur builds and protects his business so that he can help more people.

To end this reflection, I would like to write that no heart is too big for business.  My big heart is a strength.  In my quest to being an entrepreneur, I will keep in mind that I have to grow my business to be able to help other people.  I will keep reminding myself that I cannot help others if I cannot help myself.  This line of thinking should be able to sustain me and drive me forward.  My being sacrificial for others should always remain at a personal level.  I am resolved that I will grow my business to employ and help more people and no way would I sacrifice my business for some fleeting feeling of compassion which I can handle personally.

I still have a lot of years ahead of me and that's a real advantage.  Whatever characteristics I lack can be gained.  Whatever entrepreneurial traits I possess can be further honed.  My guiding post in my journey will also come from the 85^th speech of Mr. Gokongwei (August 11, 2011).

"There are nine requisites for contented living: Health enough to make work a pleasure; Wealth enough to support your needs; Strength enough to battle with difficulties and forsake them; Grace enough to confess your sins and overcome them; Patience enough to toil until some good is accomplished; Charity enough to see some good in your neighbor; Love enough to move you to be useful and helpful to others; Faith enough to make real the things of God; Hope enough to remove all anxious fears concerning the future.  "

 

5s from Slideshare

Our generation needs an ENTREPRENEURIAL REVOLUTION. 5s is an important concept in Kaizen, TPS, and other Japanese manufacturing system, or their vaunted quality system. The slides show practical way how to implement the first part, seiri, sorting out of 5s. Many things could go wrong in the sorting out. The slides guide us how to do it

5S

View more presentations from René Verhoeven

Lean System from Slideshare

Our generation needs an ENTREPRENEURIAL REVOLUTION.

One time, the school invited a guest to talk on Lean System. Lean is an operations concept and is important item in : customer service, value creation and delivery, process improvement, and cost management. Here is the Slideshare presentation that was just like the talk. I hope this is of value to managers who need to make goods, manage inventory, and straighten out their processes. From slideshare: the treasure chest of important off the shelf knowledge. It does away with visits to the library and research.

Lean Ideas And Methods Heath 07 21 11

View more presentations from Anthony Heath

Factors Paper of R100027 [revised with further explanation on relation of assessment to self]

What factors do / don't I possess that make / do not make me a Business Entrepreneur?
By R100027

From last week's debate, "Are Entrepreneurs Born, Made, or Lucky?", a trailing thought of whether entrepreneurship can or can't be learned still seems to linger. What was a consensus, though, is that all successful entrepreneurs possess the passion that enables one to pursue - or endure - further. Therefore implying that whether born, made, or lucky, there are certain factors that consistently contribute to an entrepreneur's success - factors that ultimately determine the makings of a Business Entrepreneur. At the end of the day, the question to answer really is -- "Am I cut out for Entrepreneurship"?, better yet, "Does my Atenean MBA prepare me enough to be a successful entrepreneur?".

Kevin Givens, entrepreneur-blogger, summarizes the Top 10 Characteristics and Qualities of a Successful Entrepreneur from The Millionaire Minds by Thomas Stanley:
1-2. Integrity and Strong work ethic - Soundness of one's ethics and moral character - "being honest with everyone" - was ranked by successful entrepreneurs and millionaires as one of the main factors that contributed to their success. Ethics, as Dr. Palma-Angeles explains, is a constant and reflective examination of one's beliefs through reason and will, thought and action. Further reinforced by Prof. Mansibang's Finman discourse on Ethics What's Hot, ethics does matter regardless of time and setting. Cutting-corners, despite a tolerant society, should have no place in business then.
3-4. Self-discipline and Organization- "...develop the ability to get things done, even when you don't feel like it...". Such also entails that one develops a character for overcoming fear and self-doubt, of trusting one's gut and unconventional-thinking, and of being resilient to adversities - something AGSB professors try to develop in each Atenean through requirements that are both challenging and demanding. Prof. Roa's Markma assignments of at least five individual papers, a five-chapter reading, a group report, and a group paper per session were definitely for the students' benefit.
5. People skills - "...the ability to win people over" through genuine appreciation of and respect for people, that which Leader professor Fr. Xavier, SJ pertains to as Cura Personalis, beholding and having the need to care for each person -- more so, of heeding to the Atenean call of being Men for Others.
6. Supportive partner - Having someone that "...believes in your goals, dreams, and abilities..." pushes any person to go further. In Ateneo, such comes in persons of professors, peers, and group mates. Imagine having to go through Prof. Ante's Quanti alone. No Atenean could probably get to Strama.
7-8. Strong leadership qualities and Sales ability - "Being able to communicate effectively, motivate others, sell your ideas, and be decisive..." increase a person's probability of being a successful entrepreneur. Ateneo even goes further to say that a strong leader possesses a character that is patterned on Cura Personalis ("behold each person"), with competence that is set for Magis ("excellence"), and a purpose defined by Ad Majorem Dei Gloriam ("to God be the glory").
9. Competitiveness - "Play to win..." and constantly strive for Magis. As entrepreneurs get a much bigger chance of being successful for every market-competition won, Ateneans develop higher odds of making a difference to and in the country by settling for nothing but excellence.
10. Passion - As Givens explains, "...to become a successful entrepreneur, you need to be passionate about your business". As such, to identify and pursue one's meaning and purpose ultimately defines entrepreneurial success. It's not just doing what you love or loving what do, for Ateneans, it's the doing that which would glorify God - Ad Majorem Dei Gloriam.

Obviously, Ateneo has given much thought on the dynamics of its MBA program. It has made sure that each individual to claim the Atenean name - including myself - is equipped enough to survive, even excel, as an entrepreneur and leader in and of the country. After all, entrepreneurship is key to Ateneo's vision of Nation-Building. So going back to the questions posted earlier, "Does my Atenean MBA prepare me enough to be a successful entrepreneur?", the answer is a resounding YES; "Am I cut out for Entrepreneurship"?, definitely SO.

As I went through the exercise of analyzing the Ateneo set of values vis-a-vis the factors that contribute to the success of an entrepreneur, it became all apparent and obvious that such an analysis was really a personal assessment of the things that I value and currently hold dear. The points highlighted from each professor and experience mentioned from each class are those that have most struck me - influenced, at best. My Ateneo education, combined with Christian faith, keeps me grounded and my integrity intact. It has well-honed my self-discipline and organization by pushing me to limits that are painful but only make me better. Ateneo has taken me out of my introverted shell, constantly developing me to become a strong and sensible leader, continuously motivating me to strive for excellence. Finally, Ateneo has re-ignited in me passion that can only come from Servitude, a passion that can definitely keep any entrepreneurial fire burning.

3.0 Thanks for revising

Factor Paper 1 - R100092 EV

Who am I?  This is the primary question I asked myself a long time ago. It is a hard question to answer because we need to look deep inside to discover who we are. It's only half of the story. We also need to understand who we are in the eyes of other people. Sometimes, we are not aware of our actions because we refuse to believe what they are saying. 

Understanding who am I is the key to success. In the movie Matrix 1, the hero named Neo travels to the oracle to know if he is the one. In one of the scenes, the hero sees a sign above the door and it reads," know thy self". By knowing one's self, you will be able to address your strengths and weakness as well as the opportunities and threats.

Knowing one's self is a journey by itself. It is a series of struggles, test and tribulations to finally understand one's personality. It is a difficult task that needs expert guidance and methods.

My journey starts from the begging. Growing up in a small town in Laguna, keeps my perspective simple. My values in life started at home and in school. It is when I reached high school changes everything.

I studied in Don Bosco Technical College in High School. The fast moving phase of Manila had an impact on me. I was able to view it from the street of Manila where I roam after school. I was able to adopt certain situations as needed. I would often make friends where we have things in common. I would get information from friends and other means for me to achieve something.

In college, I took my BS ECE in the same school. I'm an average student. I graduated in 1995. 

I worked in the IT field for several years since the start of my career. As a technical person, I handled various IT hardware and software. Currently, I'm working in Accenture as a Network Architect.

I had several technical certifications from Cisco, Microsoft and ITIL. It affirmed my knowledge in various disciplines.

I have various influences in school specially the Salesian Priest of Don Bosco. My strong influence comes from Fr. Evangelista. He gave me the direction I was looking for. When I was in the US, my former boss Hydre Abdullah is a good influence to me. He thought me what is living in the US is about. Benjamin Franklin and other great leaders such as Gandhi would inspire me to be better than what I am.

Upon myself discovery, I've known to work smart, a forward thinker, and look at different perspective. I also like strategies and tactics. I adapt to any situation which make me fluid. I will do whatever it to do the job. 

I made a conscious decision of putting up my own company. I started working on this before I entered my MBA. During the process, another opportunity presented itself. I was accepted in the Regis program of Ateneo. It was perfect timing since I started building my company.

When I started my MBA about a year ago, I discovered so many things that I needed for my company. The education I gained in Ateneo will surely help me with my future company. 

After finishing my MBA, I will continue my dream in creating my own company. I will pick up from where I left off. This time, I'm better equipped with the knowledge I gained in this course. I have a different perspective in starting and running a company. The training I grained from my MBA will be a great tool.

The first order of business is planning. I would start by creating my business plan, write my vision/mission statements and start making various process/procedures. I would also start getting the right people aboard.

I would find the capital to fund the company's operations. The rest is text book steps such as find the place, hiring, pricing, etc…  

My idea of creating my own company started during my several years of work. If I'm going to be passionate about something, I will be passionate in working for my company. I would use all my knowledge I gained from my MBA, years of experience and work on my dream. This is my driving force.

After establishing my company, I still have several goals I need to achieve. Writing a book and giving back to the community are just samples of what I want to achieve.

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Factors Paper:by R090204-JS

Greg Watson, a professor and retired entrepreneur, defined entrepreneurship in his blog as "a process through which individuals identify opportunities, allocate resources and create value."[1] He further described entrepreneurial success as "the ability of an entrepreneur to see these opportunities in the marketplace, initiate change (or take advantage of change) and create value through solutions."[2]

I have long admired entrepreneurs for their ability to make a difference, to serve a need and to be their own boss. I have so much respect for individuals like John Gokongwei and Henry Sy who from modest beginnings transformed their business into large-scale multibillion peso enterprises through their passion, perseverance, dedication and innovation.

Although I am working for a multinational company at present, I would like to see myself become my own boss in the near future and establish a business that will serve to meet a value or an opportunity in the marketplace. I would like to see myself with a thriving business that is able to make a difference in people's lives. As such, part of the goals and aspirations that I have identified for myself is to become a successful entrepreneur one day.

As I continue to explore this direction, I think of the many individuals who have attempted to become entrepreneurs and what comes to mind are the success stories of the founders of Yellow Cab, Mang Inasal and Tribu who started with barely enough capital and yet have become well known brands with great following among its customers. At the same time, however, I also think of the many other individuals who were equally passionate and enthusiastic at the onset and yet for some reason or another failed at their attempt to become successful entrepreneurs.

As I begin to understand what entrepreneurship is all about and what it entails, a very opportune activity in class is to begin this attempt with a good understanding of oneself through the personal mastery exercise. This exercise encouraged me to become be fully aware of the traits and characteristics that I posses to help me become a business entrepreneur as well as the factors that I do not possess which may prevent be from becoming successful. It has allowed me to be cognizant of how entrepreneurial I am now and what I can do to become more entrepreneurial.

I leveraged on three self-assessments from the internet to help me become familiar with the traits and characteristics that I possess to help me become an entrepreneur. Results of the self-assessments indicate that I share many key attributes of entrepreneurs enabling me to have the profile for entrepreneurship. The results generally talked about how I can succeed on my own and how I should continue to investigate or give serious consideration on becoming an entrepreneur.

As I examined myself further, I looked into comparing myself against the motivation, aptitude and attitude expected of an entrepreneur. The Business Development Bank of Canada identified 3 motivating factors for people to want to become entrepreneurs. These are the need for achievement, the need to influence and the need for autonomy.

The result of my self-assessment indicates that my score on motivation exceeded the mean score of entrepreneurs. This means that from a motivation stand point, the reasons that call me to action are attuned to what successful entrepreneurs lean towards. I have a strong need for achievement and challenge. I see obstacles as sources of opportunities and I take a great sense of accomplishment in transforming uncertainty into situations that can be managed. I pursue all measures to meet my goals and to attain any set objectives. I find satisfaction in being able to influence people and make an impact on the course of events, particularly in areas where I am able to turn things around. Albeit scoring less than the mean score of entrepreneurs, I find myself to have a strong need to become independent, to become my own boss and to pursue dreams and aspirations.

Another area of the assessment looked into competencies and abilities that make a person more inclined to become an entrepreneur. These aptitudes focused on perseverance, self assurance, creativity and tolerance for ambiguity. I particularly scored high on perseverance and tolerance for ambiguity. I am the type of person who is able to follow through on commitments despite the obstacles. I see any endeavor through its completion regardless of any setbacks or problems that can be encountered. I have learned to become more comfortable with ambiguity and to become better able to deal with stressors.

My noted areas of improvement would be on the area of self-assurance and creativity. I need to be able to trust my instincts more. I am quite hesitant to make decisions, especially if I know that the odds for a mistake are high. I need to be able to develop more willingness to take calculated risks and to be able to harness my imagination and creativity to identify opportunities in the market.

The last area of the assessment focused on the necessary attitudes that an entrepreneur must have. As in motivation, the result of my self-assessment indicates that my score on attitude exceeded the mean score of entrepreneurs. The questions on attitude focused on two things: attitude toward failure and being action oriented. My results indicate that I am able to see failure as an opportunity to learn from my mistakes, to pick myself up and to better myself in the process. I see destiny as something that I can act on and control rather than not being able to influence the unknown and the future in any way. I am action oriented in that I want to get things done; I follow through on commitments and am results-oriented. I am the type of person who will not remain complacent and who needs to be able to find ways to continuously improve myself and the projects or endeavors that I involve myself in.

Overall, I learned that I possess certain characteristics and traits that somehow predispose me to become an entrepreneur. In the same manner, it has helped me become familiar with certain areas that I need to focus on and harness to be able to turn them into areas of strength. As these are just predispositions, whether it is an area of strength or area of improvement, actions still need to be done to channel these factors to be aligned with the actions and subsequent outcomes needed to become a successful entrepreneur.

On another note, the personal mastery exercise has allowed me to be affirmed in that, although the road to entrepreneurship entails a lot of passion, hard work, innovation and dedication, my aspiration to be an entrepreneur can indeed become a reality.

References:

Business Development Bank of Canada - http://www.potentielentrepreneur.ca

Canadian Foundation for Economic Education - http://www.mvp.cfee.org

Entrepreneurship, Education and Ethics - http://www.gregwatson.com

Top Web Entrepreneurs Plan It - http://www.top-web-entrepreneurs-plan-it.com

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[1] Entrepreneurship, Education and Ethics - http://www.gregwatson.com

[2] Entrepreneurship, Education and Ethics - http://www.gregwatson.com