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.  "