Late Factors Paper by Engr RG, STR Regis

Reden Garcia TS Entrep, STR Campus   FACTORS PAPER To be a successful entrepreneur takes a lot of traits, skills, knowledge and information. I believe that an entrepreneur is either born or made. In both cases, there are gaps that need to be filled in order to be successful in business. Some are lucky to be born with parents already as entrepreneurs and some are privileged because they have undergone trainings and studies to be ready in a business venture. For me, an entrepreneur is driven by internal and external forces. Internal are the traits of being creative, self-motivated, a risk-taker, and undying pursuit for continuous improvement. External are the opportunities, resources and network of contacts/business relationship. Although I already have my own business, I still find a lot of gaps that need to be filled to be able to grow and sustain what I have started. Being educated as an engineer and trained on both service and managerial aspects of an enterprise, I still need to improve a lot in terms of being more creative and pro-actively finding & seizing the opportunities. In other words, being efficient in the operations and effective control of the business is not enough. That is where creativity and an eye for opportunities come in. Below is a self-assessment tool taken from the internet:         Does this sound like you? That is definitely not me. Sometimes that's me. That's me most of the time. Wow! That's me exactly! Nobody has to tell me to get to work. I figure out what has to be done and do it before I'm asked. I like to be in control of whatever jobs I'm doing. I'm rarely satisfied with the way things are. I want to change them, make them better. I'm good with people. I enjoy creating teams of people to tackle a challenging task. I rarely take no for an answer. I am known to be very persistent because I know I can't accomplish much on the first try. I just keep on trying. If I'm told something is impossible to do, I often can't resist seeing if it's true. I don't mind failing if I learn something in the process. Whatever job I have, I need to feel that I'm accomplishing something, not just putting in time. More than anything else, I love to earn money. It gives me freedom and power. When I'm working for someone else, I'm always thinking of how I'd change things if it were my business. I'm willing to accept responsibility and take the heat if my decisions are wrong, but I want the credit (or rewards) when I make decisions that produce the right results. When I'm doing work I really like, I don't mind working hard for long hours. In fact, it doesn't even seem like work. I have dreams I want to pursue, and I won't be satisfied until I find out whether or not I can achieve them. Is Entrepreneurship for Me? Your score is 30. You already share many key attributes of entrepreneurs. If you have not yet decided to become an entrepreneur, you should give it serious consideration.   This tool also shows that I have the tendency to become complacent. I need to find ways on how to be more creative so that I can continuously differentiate our business from the competitors. Creativity and Continual Improvement are critical factors in growing and sustaining a business. That is why the Japanese car manufacturers have beaten the Fords and the GMs because of the American companies' complacency. As for me, I consider myself to have acquired the external and most of the internal factors of a successful entrepreneur but have to focus on creating value and growing the business in order to survive in this highly competitive world. 2.5