INTRODUCTION
As I started to research the qualities of entrepreneurs and the key to their success, I have come across a number of authors who generously shared their own lists which are sometimes referred to as the "Secrets" or the "Winning Traits" of successful entrepreneurs. Going through all these lists made me realize that it's just not possible for someone to possess them all, so I have made my own assessment checklist of those qualities and tried to answer the big question whether I really have what it takes to be an ENTREPRENEUR.
This self-assessment has been designed to follow the usual audit procedure that is carried out by the assessor (me to determine the level of compliance of the organizations they manage. The methodology used is a systematic and documented process for obtaining evidence and evaluating it objectively to determine the extent to which assessment criteria are fulfilled. In other words, I have checked whether what I personally believe and practise in life are actually in line with qualities of an effective ENTREPRENEUR.
METHODOLOGY
In accordance with the requirements of AGSB Entrepreneur Class of Professor Jorge Saguinsin, the writer, Henry James Avecilla, has prepared an evaluation report showing the results of the self-assessment he has conducted from November 28 to 29, 2011.
The Assessment Checklist covers FIVE categories or qualities of an effective entrepreneur. The assessment objectives focus on determining the extent of "conformance" to established criteria and practices, as well as determining the extent that established beliefs conform to the standards of ENTREPRENEURSHIP. (i.e., Am I doing what I say I do, and does it conform to the requirements of the Criteria as per the definitions given by some respected authorities in this field of study?)
SELF-ASSESSMENT CHECKLIST
Qualities
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YES
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NO
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Comments
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1. Do you have SELF-DISCIPLINE or the ability to control and motivate yourself, stay on track and do what is right?
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Self-discipline is listed as the first trait for a reason. I believe that to become a successful entrepreneur one has to be highly disciplined to choose his purpose in life, and then persevere with actions, which lead to improvement and success. Self-discipline is not only necessary in business but it is also vital in all other aspects of our life.
While training with martial arts gurus, I have learned to develop self-discipline and maintain the right attitude to harmonize with our environment. One very important lesson I have learned from Bruce Lee, the founder or Jeet Kune Do is to learn to be adaptable. Our world is full of surprises and unforeseen events and being adaptable allows us to respond to circumstances with the ability to change course.I remember Bruce Lee once said that if you want to be adaptable be like the water. What he meant was if you put water into a cup, it becomes the cup. You put water into a bottle; it becomes the bottle. You put it into a teapot; it becomes the teapot. Water can flow, and indeed it's adaptable.
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2. Are you able to stay focused on the tasks on hand?
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Over the years, I have learned the importance of being focused on my goals and to exert all effort to ensure that I get to stick to my plan until it's completed despite all the distractions and roadblocks that may come along the way. What helps me stay focused is a clear vision of what I like to accomplish and determine how to control everything that prevents me from doing so.
I am focused and always ready for whatever may come my way. I plan my moves and I am ready to face anyone, friend or foe. I am ready to shake one's hand to offer friendship but I am also ready to defend myself by applying the right strategy or technique to anyone who would try control and dominate me. What I do to defend myself against an attack is to simply get out of my opponent's range of effectiveness. In order to be able to control an attacker, I must remain well within my own range of effectiveness at the same time I try to move out of my attacker's range of effectiveness. Depending on the situation, I consistently make myself aware of the range of effectiveness of that moment.
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3. Are you afraid to take risks?
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One sure thing I know about risks is that they are all manageable. It took a lot of risk-taking practice before I got comfortable with addressing risks. I completely appreciate now that my failures have taught me well how to better manage risks. Those not so happy experiences have made me understand that I could still take something positive from a failure or a setback. I just need to remember that sometimes the jigsaw piece doesn't fit all the time, but if I keep searching, I will surely find the right piece of the jigsaw.
One of the more important things that I do to manage risks is to choose my own battles; I don't have any intention to win them all. But if I must lose, I just have to get up every time I fall and move on. And that's a sure sign of a Winner
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4. Do you know who your customers are? Do you understand their needs?
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Since I have this idea that customers are kings, I really try to go out of my way to know who my customers are and what their needs are. Customers may not necessarily be right all the time, (I don't agree with the old saying that they are always right) but I am pretty sure that no business would thrive without their customers. I just can't imagine where I (my business) would be without my customers.
Delighting the customers is the new mantra in doing business today and to be able to delight one's customers I believe that one has to know how to meet the exact requirements of his or her customer and make sure to meet them all, better still go the extra mile.
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5. Is making profit your primary consideration in doing business?
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When I was just starting doing business, I thought that all businessmen were in it for the money; that we always need to generate a profit to be able to fund growth and that running businesses that are not making enough profit is not much fun and not worth doing.
It was only after staying in the business for a couple of years when I realized that to be a successful entrepreneur or any profession for that matter, one has to enjoy what he does.
There may be a lot of businessmen who are more concerned about making money but it's not quite true to me. I am in it not only because I really want to able to create something that I can call mine but also because I want to have my independence.
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CONCLUSION
I must admit that it took me quite a while before I had finally decided how to write this paper. My desire to determine whether I really have what it takes to be an entrepreneur led me to remember myself as a young boy who tried to look out for possible opportunities to make profit out of my "simple ideas". Yes, as a youngster, I have made money by offering my services and selling my products to people I know and to those whom I thought needed my products. And the best part of it – I enjoyed running my own business then.
Looking back and without enumerating all those experiences, I believe my attitude and business concepts were not that bad at all; in fact, I am now more convinced that I possess qualities that are inherent to some successful entrepreneurs and could help me to become a better entrepreneur today and tomorrow...
The self-assessment exercise I have done confirms that I have what it takes to become an entrepreneur. My past experiences and my present mindset are not only compliant with the must haves for entrepreneurs but also indicate a high chance of becoming a successful one. 4
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