Women Starpreneurs Awardees At Go Negosyo Summit

Promoting Entrepreneurial Revolution

This morning I read that that three of the awardees at the forthcoming Go Negosyo Summit were published at Philstar front page.  They are: Antuza Refalda for promoting civet coffee for Kalinga coffee growers, Elma Arbolera for the iBus invention (of course she did it with Rodel and other scientists from UP and elsewhere), and Lourdes Ragas of  Asia Embroidery. 

In the case of Antuza, it is noteworthy she got support from the SB Corp, and later on a substantial financial aid from DOST amounting to P900,000.00 for facilities to process coffee. We had MBA students who did work for SB and DOST, helping entrepreneurs:   one was EA of the SB President, and the other one was ARD of DOST for NCR.  We thank these agencies for helping Antuza become a success.

We salute these women (who in the GEM survey run more than 50% of start ups in the Phil;  when they are big, men take over!) for dreaming big and pursuing them.

Former Entrepreneurship Student

Ms. Arboleras who is a TOSP awardee, was a former entrep student;  I did  some advisory work to her and Rodel at the early stages.  Congratulations to them and may they be outstanding successes in their field.

The starpreneur award is a joint project of Philstar and Go Negosyo for the latters women entrepreneurs summit this March 2.

Congratulations

Learnings from the Bangkok REE Conference.

Promoting Entrepreneurial Revolution

The Ateneo GSB spent a great deal of money sending me to the REE conference in Bangkok Feb l-3, and I am extremely grateful for the privilege, the honor, and experience for being there.  Certainly the monetary figures  can not match the academic knowledge, and practical experience I have gained.  True to my mission of sharing entrepreneurial knowledge to others, I have blogged summaries and tidbits of what I have learned so that even in a small way it may contribute to local,  and maybe to some other readers out there.

I list and recap the Bangkok experience that may be buried by other posts that are I think are valuable to many:

Effectuation Entrepreneurship 

Increasing Creativity

Being Remarkable, Radical and Relentless - a Purple Cow

Conversation Mapping

Using the Kitchen, Limited Time and Resources to Teach Creativity

DTAC Social Entrepreneurship - Helping the Farmers

Family Managed Business (FMB's) in India 

Lowering Health Care Costs in Thailand - Social Entrepreneurship 

List of Recent Posts on Management Tips

Promoting Entrepreneurial Revolution

I have posted several management tips that are new culled from various publications that may be of great help to many aspiring entrepreneurs.  This is intended for many entrepreneurs who want to learn more about better business management but can not afford the stiff price they have to pay for seminars or MBA tuition fee, much less for Masters in Entrepreneurship.  Here again is a list of recent posts:

Customers for Life 

Why Cost Management is a Powerful Marketing Tool?

Credit and Collection Tips 

Making a Better Elevator Pitch

One (or Few Words) Word Business Concept Formulation

Applied Strategy 

How to Pitch to a Banker 

There are more articles and tips.  They are FREE!

PHL Local Events Trend that May Affect Business Entrepreneurship

Promoting Entrepreneurial Revolution

Over last few weeks there are several observation made that may be influencing, shaping up, or that may affect local entrepreneurship.  Here again is a summary of those posts:

Plans for Buendia to Balintawak Skyway, to connect SLEX and NLEX 

Bureacracy's Indifference to Prospective INVESTORS in PHL

PHL joins ranks of Creditor Countries with FTP

Perks to Power Companies Fail to Lower Power Prices?

MPIC Continues Expansion into the Hospital Business

Santiago and Cauayan Cities are very Progressive

Declining OFW remittances Seen in 2012 

Many World Events, Macro Events Shaping Local Entrepreneurship

Promoting Entrepreneurial Revolution

I have posted several macro events in the blog which I think are affecting local entrepreneurship.  We the locals in PH must be aware of this and take advantage of them if they are positive, or see opportunities in them if they are problems:

World News:

Please read on.

Tight World Supply Chain Affected by Thai Floods 

Donald Trump Foresses $7/gallon gasoline in USA 

China is Now No l World Economy, Why Revaluing Yuan is Double Edged Sword 

 Decline of the Dollar as the World's Reserve and Trading Currency

Questions on the Eurozone Debt Crisis 

Some Events for Prof Jorge

Promoting Entrepreneurial Revolution

l.  On Feb 29, 20l2, upon invitation of former entrep student Mr. Norman Calub of CACC, I will be addressing the independent service providers of Concepcion Carrier Airconditiong at Acacia Hotel in Alabang;

2. March 27, 2012, Ms. Vinuya has invited me to teach MBA standard entrepreneurship.  I have often asked by students whom I taught why entrepreneurship is an elective and not a core subject.  All I could answer is I do not know.

3 This blog has surpassed 20,000 visit.  For me it is quite an achievement.  Thank you dear readers and followers.

FW: [Blueboard] Use of A4 Size Paper

_______________________________________________
Blueboard mailing list
Blueboard@lists.ateneo.edu
https://lists.ateneo.edu/mailman/listinfo/blueboard

----- Forwarded Message -----
From: Owie Ferrer <aferrer@gsb.ateneo.edu>

Memo :          To the University Community

From  :          Vice President for Administration and Planning

Re      :          Use of A4 Size Paper



In line with the University's thrust of keeping abreast with global
standards, we will begin to use the A4 size paper for all our official
documents and communication effective April 01 2012.

A4 is a standard paper size, defined by the international standard ISO 216
as 210 x 297 mm (roughly 8.27 x 11.69 in). The measurement is in line with
the adoption of the metric system worldwide and is intended to do away with
having two sizes of US letter (8.5 x 11 in) and legal (8.5 x 13). It is now
in use for both domestic and business purposes in all countries except the
United States, Canada, Mexico, Chile and a few other American countries. In
the Philippines, all government offices have adopted the A4 as the standard
issue, although the majority of private organizations still use the US
letter size bond paper.

Our Purchasing Office already started to issue A4 two months ago and will no
longer purchase letter size bond paper after remaining reams in stock are
consumed. A minimum amount of the traditional legal size paper will be kept
on stock in case it is required for some specific legal transactions.

Once the A4 paper is in use, we recommend that you adjust the settings of
your printers and copiers to avoid wastage.

Some additional points pertinent to this new policy.

1.    We will continue to use the standard letter and brown envelopes until
such time that the C type envelopes that are universally used with A4 are
readily available in the local market.

2.    Our students should be encouraged to use A4 for their submissions,
beginning  April 1, but the strict implementation will be left to the school
units for this school year.

Should there be any questions on this matter, please contact the VPAP
office.

Thank you for your usual support.



Edna P Franco, PhD

Vice President for Administration and Planning




--

Owie

- - -
*Andrew D. Ferrer*
*Administrative Staff*
Ateneo Graduate School of Business
20 APS bldg., Rockwell Drive, Rockwell Center Makati City
Direct Line: 898-2514 /  Trunkline: 899-7691 loc 2207
email:  aferrer@gsb.ateneo.edu

Number of Mobile Devices Seen to Grow to 8 billion by 21l6

ProfJorge Entrep

IT News from Philstar by Alma Buelva 2/20

 Alma reports that Cisco Visual Networking Index forecasts the growth of mobile devices to reach 8 billion by 2016 and will exceed the worlds projected population by that time of 7. 3 billion as projected by UN.

 Mobile tablets will grow the most

Most of the growth will be coming from mobile tablets.  The growth of these number devices is expected to rise 62 fold during the period.  The growth will be made possible by the 2G, 3G and 4G networks. Traffic on these network doubled last year;  and it expected that traffic in such network will grow during the same period.

Africa and ME will lead the growth

The top notcher for the growth is Africa and Middle East with 104% growth, and next is Asia Pacific; third would be North America, and then Europe.

Questions:

l.  What opportunities do you see in the article?

2.  If you are in IT, what would be growth areas?

3.  What would these developments fuel?

Will Buendia -Balintawak Skyway be A Reality?

ProfJorge Entrep

A leading daily, PDI, has  found out that the operator of the SLEX skyway is soon proposing for skyway project from Buendia to Balintawak.  The proposed skyway is expected  to make it at par with MRT;  it will cut travel time from Buendia to QC (Cubao) in 6 minutes. It is part of the concession of CITRA when it was awarded the Skyway SLEX project.

Just awaiting government approval

The Citra CEO Shadik Wahono said the proposal is with the government and just waiting for the government approval

It will cost PHP 24 billion and will take some 30 months to finish well within the regime of the present President;  it is not expected to disrupt traffic using the same innovative construction technology it used for the SLEX project.  It will be dubbed CPA - for Citra - PNCC Alignment.  It would connect North and South Expressway.

 8 entrances/exits; max P99.00 toll fee

It would have 8 entrance exits: Buendia, Quirino Ave, Plaza Dilao, Aurora blvd, E Rodriguez Sr. Ave, Quezon Ave, Sgt Rivera, and Balintawak.  The fee will be capped at P99.00.  Isnt this wonderful?

The competitor for the project, MPIC, said that it couldn't be done at that price, or the P99.00 maximum toll fee is not possible?  Who is to be believed?

l.  What will be the improvements coming from this proposed project?

2.  How will this affect commerce and business?

3.  How will it improve happiness of Metro Manila residents?

4.  Will business along the skyway path be affected?

5.  If north and south expressway are interconnected, what will be effect on Luzon travel?  Business growth and development?

How Has Entrepreneurship Contributed to China's Being Number l Economy

ProfJorge Entrep
This summary  is a from a video presentation from Weiss Research and made by Larry Edelson.

There are some important points that I picked up from this presentation.

Larry Edelson

Larry lives now in China;  he is an American and makes  a warning that is not about politics;  nor does he thinks ills of USA.  However the stark reality must be met.  He wants the best for his country and his children and other relatives who live there.  However, America must now join the ranks of once great nations who squandered their wealth and now must bow before the world's great powers

Some key points that I picked up:

l.  US will no longer be the world's No. l economic superpower.

      This is evident in Yahoo Finance that says according to the IMF, US will cease to be the No.l economic superpower.  But this is contested by Peterson and U of Pennsylvania.  China is now as of 20ll the world's no l economic power.

        Some comparisons:

China is now No. l

        l.  GDP of China is $l4.8 trillion;   that of USA - $l4.2 trillion.

        2.  Cash reserves of China is at $3.2 trillion is growing;   US has 0 cash and must borrow l/2 of what it spends, mostly from China

        3.  US debt stands at $l4.5 trillion (at the time the video was made) and unofficially if the pensions SSS are counted should be l0 times more or $l45 trillion

       4.  Beverly Hills stands pale to luxury areas in China;

       5.  China is now the worlds no l exporter, manufacturer, car maker.

       6.  There are 800 million Chinese employed;  US only has l40 million;    nearly 97% of Chinese are employed;   wages rose by 7%

       7.  Chinese economy grew by 9%;  that of US by only l.2%

       8.   While US is scaling down its space program China is planning to send man to the moon.

       9  China spending on arms defense satellites, aircraft carriers, submarines, nuclear weapons is increasing by ll% annually.  It has about 2 million troops.

       l0.  China controls the strategic metals business.

       ll.  The  Chinese economic explosion is not stopping or slowing

      12.  Entrepreneurship is booming and contributes l5% to the Chinese Economy

       Because Beijing is now so rich and controls Washington by the purse strings, it can dictate what Washington should do.

The end of dollar as the trading and reserve currency

2.  Because of the inflation and superhigh debt of US, and by the way the Washington has squandered US finance (incurring debt of almost $5 trillion to pump prime the economy and failing)   countries are falling out in having the US dollar as:

       l.  currency reserves;

      2.  currency for international commercial and financial transactions.

       Some bond flotations for US companies are made in Yuan.

3.  On the veiled pretext that devaluing the dollar will increase US competitiveness in export, there is a constant urging on the part of Washington to ask Beijing to devalue the yuan.  However Edelson does not see it that way.  Because the US wages are 6x bigger than China wages, there is no way that US products/exports can come close to China prices

       The real reason is by having cheaper dollars, US can repay its massive debt with cheaper currency.

       For China, this is OK because this will stave inflation in a about to be overheated economy.

However what will this mean:

        l.  Prices will spike
 
        2.  The retirement and nest eggs of retirees, the seniors will evaporate

        3.  China will gobble up  the worlds resources:   oil, metals, coal with its high value currency including US real estate.

What does it mean for the investors, common man:

l.  Avoid dollar investments;

2.  Invest in commodities:  food, oil, energy and minerals

3.  Invest in precious metals

Some Questions:

l.   For Phil entrepreneurs, what will be the opportunities?

2.  What is the effect of these developments to local investments or are they being felt now?

3.  What has the REE got to do with these?

4.  Why is PHL balking on proposed investments  on mining?  Shall PHL commit  the same mistakes as the US environmentalists?   And now US is will lie at the dusts of disgrace of once he proud superpowers?

These are just valid conclusions from the facts presented by Larry.  He had his series of successes
with regards to the prediction on gold, the stock market crashes.  He could be right in his analysis again

The End of US as the World's Economic SuperPower - What does it Mean to You?

Acknowledgement to the Weiss Research for this summary.

Interesting Questions on the Europe Debt Crisis.

ProfJorge Entrep

As a former credit officer in a small savings and loan association, I could not help but ask the following question on the debt problem in Europe.

l.  Why were the debt allowed to  accumulate that high?  Was there a study of capacity of pay?

2.  Were there no red flags for failure?

3.  Are there competent financial managers/officers in the countries?  Or are there strict reviews?

4.  There is according to Germany, that the 600 billion euros is enough.  What if despite this rescue fund  defaults still occur?

5.  At the  G20 Mexico conference it was decided that Europe must first help their comrades before Japan and other countries can help.  What if the Europeans are helpless to do so?

Customers for Life (Will Support your Business)

ProfJorge Entrep

Classic Definition of a Business

When MBA students are asked for this, some are completely lost and will often answer, a for profit entity;   difficulty comes when the organization is non profit.   Is business for profit alone or it does something else.

What comes to my mind is Peter Drucker's classic definition:   "an entity that creates customer" or entity that adds value to the customer. Thus a business model must have a main value proposition;  without it, it has lost its sense of being.  And most of the time, many strama students do not place or neglect to clarify the value proposition of the business.

Thus every MBA, every businessman must make sure it has customer or that it has strong marketing team to sell.  And to be in the mainstream, it must constantly innovate its products and services. (NU 6, NU l2 or NU 52) Customers needs and wants evolve and are constantly influenced by competition. Thus the bar of innovation rises.

Customers for Life

Early in running the business I came across a book by Carl Sewell, a Cadillac dealership in Texas whose businesss grew from $l0 million dollars a year in l968 to $250 million in l998, some 30 years later (25 fold increase can you beat that)  His book now is classic for CRM (customer relations model) and for most car dealership it is a required reading.

He has come up with l0 rules known as ten commandments and some of them are:

l.  Under promise, over deliver;

2.  Treat your customers as if  they are your friends;

3.  There are no Sundays, holidays or after office hours,

4. Systems, not smiles

5.  When the customers ask, the answer is always yes:

Read on for the other 5 commandments

Sewell determined that each customer is almost worth $332t (about 20 sales) in terms of long term value to the company (LTV)  That is why you must keep them for life.

Role of superb customer service in sales

Joe Giscard determined that each customer has about 300 friends and relatives;  he observed this in weddings and funerals.  Thus if you did a lousy after sales service with the customer, he will tell on this to his 300 friends and relatives and it becomes viral.  Imagine a stadiumful hating you and your products.  It is faster now with tweet, SMS, or FB.  A single bad customer service can really wreck havoc on your business.  You can sell more if you keep your customers happy always.

Cash and Credit Management: Speeding up Collection

ProfJorge Entrep

Loans to beef up operations and cash flow are sometimes unnecessary;  sometimes all that is needed is better collection and strategies to facilitate the process.

Here is a link for 5 strategies for Speeding Up Tardy Customers.  Please read and maybe see how your cash position improve.

5 Strategies to Aid you Increase Collection 

Why Cost Management is A Great Marketing and Strategic Tool

ProfJorge Entrep

The cost and quality initiatives of the Japanese and Chinese Manufacturers ran circles around the Western competitors.

The formula for most of these firms is:   +Sales - Cost= GP.  We must and can only increase sales if we are low cost producers.

Indeed, you can not have high profit if your competitors are low cost producers;  they will take away your market share.

Thus, Southwestern and Cebu Pacific caused many of their competitors bankrupt, because they took away their passengers.  And in period of rising fuel prices, they were were able to stay afloat.  The heavy pension costs and labor cost of PAL weighed heavily on their competitiveness.

One way to beat the cost curve is to be differentiated just like SIA.  But not everybody can be differentiated just like SIA.  For most commoditized goods and services, the only way to be competitive based on price value tradeoff is to manage costs well.

Read more  Cost Management: A Lesson from American Airlines

One Word (Few Words) to Describe Your Business Concept

ProfJorge Entrep

In preparing the business plan, the most important part is describing the business concept which would be in the fewest number of words possible.  Dr Morato says that it should be 30 words or less that describes the product, the PTM, where it is sold and even the pricing.  E. g.  Vente sells trinkets to all people of all ages in malls at price of not more than 20 pesos each (Vente)

But this lesson from from Duct Tape Marketing is more demanding and rigorous:  what is he one word that describes your business;  thus Apple is a design company.  What about your company?

I have seen conversation mapping and mind mapping exercises, and always the question is:  what is your tag?   what is one word that describes the gamut of ideas just seen?

Can you do it?  Can you describe your company in one word

It is about focus.

One Word to Describe your Business Concept

Making a Better Elevator Pitch to Prospective Investors

ProfJorge Entrep

In making a business plan, there is a section there called executive summary;  and part of the bp making is learning to make the elevator pitch.  This is supposed to be digitally compressed pitch of your company to a prospective investor or VCC account officer and is supposed to be delivered in a time it takes  the elevator it takes to to reach the desired floor.  More often than not this fails.

Inc suggests a better way of presenting the pitch in a socially acceptable manner, ie. make it in such a way that there is no pitch.  Suggestions for such a pitch:

l.  Position the company;

2.  Present the company in a unique way.  We make great tasting sandwhiches and we are called:
 "Which Shop."

3.  Converse with the customer or investors

4.  Ask for  further meeting.

Enough of the pitch being made in radio ads that runs 500 words a minute as the announcer

Look for the article at this link

Making a Better Elevator Pitch 

Loss of Jobs Stimulates Economy? This is disturbing!?

This came from a Newsmax article and is a comment of senior White House (USA) senior adviser.  I find this rather disturbing and contrary to what we try to promote in entreprneurship.  I hope this is not reflective of the mindset of senior executives in that famous and powerful country.

The senior adviser says that unemployment means welfare checks and this means the recipients have to spend the money.

How odd?

If this were not USA, where do you source fund the unemployment check?   Is this the reason why unemployment is encouraged rather than discouraged in that great nation.

I thought job creation is the goal of companies and governments?  Whoaaaaa...
Valerie Jarrett: Unemployment Stimulates the Economy

Donald Trump Predicts $7@gallon Gasoline

The AGSB Advantage

Expect the price of gasoline to go up further. (Activists, drivers, Piston, do not mislead people with your rhetorics and ranting that oil companies are the culprits) Oil prices are up because Iran has cut off oil supplies to France and the rest of Europe as preemptive action on planned embargo on Iran. OPEC, on the other hand ensures that supplies are low to ensure prices remain high.

Then it is still winter and heating requirements drive up energy consumption.  Then there is a threat that US might launch a preemptive strike vs Iran.  It is driving every body nervous further causing tensions to increase and the prices of oil too.  It is now $4.00 per gallon in the US (they are used to $l.00 per gallon before)  The USD 4/gallon translates to PHP 44/liter  (it is the current price now in PHL)

D Trump suggests that price could go up to USD 7/gallon or that  would be P77.00 per liter.  Car owners brace for the high prices.

Will these affect fares?

Will this be inflationary?

Read more

"The Usual Tepid Reply....from a Govt Bureaucat?

The AGSB Advantage

I just read from Boo Chancos column in Philstar about a conference that involved l00 Japanese companies, l00 Japanese businessmen sponsored by JETRO.  The head of Phil. Economic Cooperation Committee, Mr. Tsujo, said that there are many Japanese companies willing to invest in the country provided the following are addressed:   power costs, income taxation, logistics, and law and order.

We should appreciate this statement in the light of disaster that hit Japan:  tsunami and the supply chain in Thailand.  Really they are looking for nearby alternative disaster relocation. And the govt bureacrat who was there gave the usual tepid reply," Well we will look into that...."

Sayang... we are always looking and doing nothing....

Baka its better to say next time,"  We will do something about that soon..."  Promise

So Much Progress in Santiago City and Cauayan In Isabela

The AGSB Advantage

MM residents have probably thought that the center of universe is Metro Manila.  In my travel yesterday to Region II (to accompany business friends negotiate with a cooperative bank in Isabela) I had the opportunity to see for the first time progress in the above mentioned cities.  I had student in the standard program (they own an RB and gasoline station) and in Santiago MBAH:  one owns an ambulatory center and the other one a hospital.

I was only able to see their own enterprises, but I did not see the context of the enterprise in the city.  The cities have facilities and conveniences found in MM and they are progressive.  This is perhaps fueled by faster and easier travel:   SCTEX, the bus companies.  The roads are undergoing major upgrading (they are now 8 to l0 inches thick) and probably with correct concrete mix.

The sight in these two cities mean that progress has really trickled down to the regions and provinces.  So the people in the provinces need not go to the city.  AGSB is probably contributing to this growth through its MBA programs.

                              Modern building in Cauayan Isabela

                                    Stylish hotel design in Solano

                              It was Ash Wednesday when were in Cauayan Isabela

                              Night Scene is just like in MM, plenty of coffee shops

What?! PHL now a Creditor Country?

The AGSB Advantage

What? PHL now a creditor nation?

The Philippines officially became a creditor nation by contributing $25l.00 million to IMF FTP (Financial Transactions Participation).  Half of that amount will be used to bail out Greece and other distressed Eurozone countries.  This is a far cry from the Philippines of yore whose debt instruments are discounted at the world market, when IMF was imposing belt tightening, when activitists were always shouting that IMF is a tool of imperialists......

In 2006 PHL prepaid all its debts to IMF;  making an early exit.  GIR of PHL stands at $7l billion which could go up to $77B by year end.

What is the significance of this change of status to the PHL?

What is the impact to PHL economy and entrepreneurs.?

Will this increase our nationalistic fervor?  Our pride of our country?

MPIC Plans Joint Venture with Capitol Medical Center

The AGSB Advantage

Business News yesterday said that the MVP Metro Pacific Investment Company is thinking of entering JV with 300 bed Capitol Medical Center.  The 300 bed hospital is owned partly by the Clemente Family (Chito an IT Genius took up MBAH presumably as part of beefing up of its management);  they own 30% of the hospital.  

The hospital division earned PHP400 million last year.  Its initial foray into the hospital business was the rescue of Makati Med Center, as an act of white knight, to aid an ailing famous institution of health in Makati.  Since them MPIC acquired Cardinal Santos, the Asian Hospital, Riverside Hospital Bacolod,  Our Lady of Lourdes Hospital in Mandaluyong, and Davao Doctors Hospital.

It is believed that MPIC is bidding for the Private Public Partnership scheme of the National Orthopedic Hospital.

Why is MPIC into the hospital business?

Is it good for global competitiveness of PHL hospitals?

Will MPIC be eventually controlling the PHL because it is into everything that people need:  telco, health care, roadways, water supply power probably, etc?

Will it make health care affordable to every Filipinos?

BOI Withdraws Perks for Power Companies

The AGSB Advantage

PHL Board of Investments (under USEC Panlillo?) recently withdrew incentives for power generating companies.  This came at a time that the country will soon experience shortage of power in coming years because of increasing power demand.  However perks will remain for the renewable power sources.

The main reason for the withdrawal of perks are:

l.  The power cost in PHL is one of the highest in Asia,  the perks have not helped lower the power costs;  they have not been passed on the consumers;

2.  The power companies have been making money.

Is the BOI correct in withdrawing the incentives at this time?

What are the other options for reducing power costs?

What is the timeline for reducing power costs in PHL to make it competitive?

Re: Factor Paper WC LPC Regis Entrep

______________________________________________________________________________ Introduction Honestly when I was growing up, my parents used to tell me to study hard in order to get a good and stable job.  It was not my dream before to become an Entrepreneur not until I started my MBA. It is now my personal aspiration to become an Entrepreneur and manage my own business.   My professional experiences are in the field of sales and accounting. I used to lead and manage a group of sales people and manage business operations. With this factor paper, I was able to identify my strengths and weaknesses.                 In my search to find online assessment, I had taken this personality and skills assessment test for Entrepreneur.  It is both important for me to understand my personality, to work on my weaknesses and to further hone my skills. I.    Is Entrepreneurship for me? Legend:1 – That is definitely not me               2 – Sometimes that's me               3 – That's me most of the time               4 – Wow! That's me exactly! Does this sound like you? 1 2 3 4 1 Nobody has to tell me to get to work. I figure out what has to be done and do it before I'm asked. X 2 I like to be in control of whatever jobs I'm doing. X 3 I'm rarely satisfied with the way things are. I want to change them, make them better. X 4 I'm good with people. I enjoy creating teams of people to tackle a challenging task. X 5 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. X 6 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. X 7 Whatever job I have, I need to feel that I'm accomplishing something, not just putting in time. X 8 More than anything else, I love to earn money. It gives me freedom and power. X 9 When I'm working for someone else, I'm always thinking of how I'd change things if it were my business. X 10 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. X 11 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. X 12 I have dreams I want to pursue, and I won't be satisfied until I find out whether or not I can achieve them. X Result: Score:  33 -  You already share many key attributes of entrepreneurs. If you have not yet decided to become an entrepreneur, you should give it serious consideration. II.   Entrepreneurial Characteristics Legend:1 – Not yet               2 – Sometimes               3 – Most of the time               4 – Always 1 2 3 4 1 I am passionate about my goals X 2 I have a spirit of adventure  X 3 I have a strong need to achieve X 4 I am self-confident and self-reliant  X 5 I am goal-oriented X 6 I am innovative, creative, and versatile X 7 I am persistent; I don't give up easily X 8 I am hardworking and energetic X 9 I am a positive thinker X 10 I am willing to take initiative X 11 I am able and willing to commit myself X  Result: Score: 24 - You have a good foundation on which to develop your characteristics. III.    Entrepreneurial Skills Legend:1 – Not developed               2 – Beginner               3 – Quite capable               4 – Very capable Skill 1 2 3 4 1 creative thinking                                                   (find new ways to solve problems) X 2 planning and research                                          (know how and where to find information and how to use it.) X 3 decision making                                                      (study my option, then decide) X 4 organization                                                                (I set priorities and organize to achieve them) X 5 communication (oral)                                            (speak and present clearly and effectively) X 6 communication (writing)                                    (produce accurate, clear, error -free writing) X 7 team building                                                          (know how to assemble, motivate, and empower an effective team) X 8 market (selling)                                                      (know how to sell and can describe what selling involves) X 9 financial management                                         (know how to manage cash flow and how to read a bottom line) X 10 record keeping                                                        (can identify and use business forms; file and record financial transactions) X 11 goal setting                                                                   (set and work toward short -, medium- and long-term goals) X 12 business management                                         (can manage people effectively, delegate responsibility and answer for the bottom line X Result: Score: 29 - You probably share similar characteristics with most successful entrepreneurs. (But you can always improve!)   Conclusion: According to my honest self- assessment, the key attributes of being an entrepreneur is there. However I still need to work on some on my characteristics and skills. I need to develop my creative-thinking skills. How to solve problems in different ways and improve the way or innovate the way I handle things.  In this exercise, I have realized that I need to improve my confidence and self- reliance.  In addition, I am not quite an adventurous individual in terms of investing my resources. I was raised and taught by my family not to take a risk in spending savings in business since most of my family members are successful with their careers.  With MBA and with this subject my mind set is changed.  I chose Entrepreneurship as my elective subject because I believe this will help me improve my weaknesses and help me become a great Entrepreneur and be able to share it with my family. Thanks to the guidance and wisdom of my prof. Jorge Saguinsin. Indeed, currently my mother with my assistance started our small retail business in Manila. 3  It is a very welcome change and development.  Congrats.  JUS