Factor paper by Daniel Berroya

Berroya, Nyel

Section S10 (Monday – 6-9pm)

Professor Jorge

Journey towards Entrepreneurship

WHAT IS AN ENTREPRENEUR?

Anybody can be an entrepreneur as long as you know how to start and run a business. The definition is plain and simple. But what separates the basic entrepreneur to certified ones is the ability to turn risks to business opportunities by coming to be innovative which can change the trend of the industry and still be able to help the society. An entrepreneur doesn't surrender to challenges that prevent them from achieving their goals. They continue to bounce to every challenge until it reaches its basket whatever it takes. Challenges are like detractors and paparazzo. It keeps on bugging you coming from different angles and continues to surprise until you give up. But a certified entrepreneur continues to find ways creatively how to solve the puzzle and making the pieces as tool or guide towards success. 

Personally, I grew up with family of entrepreneurs started from my grandparents. They used to tell me that to a true entrepreneur need to have dedication, discipline and drive to success which they called "3D's". 3D's must be accompanied by an eye and feel of the market to be more effective. I understood it more when I got myself in the battlefield working for a sales person that everything is tougher than what've expected. Make your mistakes as guide to better plan. It's like playing chess, one must be thinking and ahead two to three moves against your opponent. Our toughest and only opponent is just ourselves. The rest are significant factors we must consider in preventing us making best decisions. "Continuously challenge yourself to the limit so you would know your boundaries and get the whole picture" – my grandmother."

HOW TO BECOME AN ENTREPRENEUR?

My desire to success is not easy nor for money. This was late-grandfather statements during our many conversations. It is by creating, communicating and delivering value to satisfy customer needs, wants and demands which is better than competition. This will separate us from the rest by raising the bar of competition and still making customers experienced the essence of value of goods and services which caused patronage. Continuous improvement and never stop learning are the secret ingredient to become and maintain market leader. "We have an environment where excellence is really expected. " What's really great is to be open when [the work] is not great. My best contribution is not settling for anything but really good stuff, in all the details. That's my job — to make sure everything is great - - Apple former CEO, Steve Jobs". Entrepreneurs must pay attention to details. Be a critic of your own product then look for ways how you can out-do competition. 

Just like customers, suppliers are valued equally since they're treated as long-term business partners. We grow and prosper together as partners. One must show support by sharing learning's and experiences to help their business become more productive. Final Goods wouldn't be possible without your raw and packaging materials. International standards for quality are now a practice to every manufacturing plant to ensure quality. Entrepreneurs must aid it's suppliers to be updated on quality process to ensure all deliveries conforms with standards. In this way, rejections will be avoided which may result to negative feedback and can be magnified later on. Brand image is very important to every company because it affects buying behavior of consumers.

I won't forget what my grandmother told me to treat your employees as your family since you can't do it alone. "No man is an island." My success is their success, as well as their failures. Never take them for granted. Make them feel empowered by teaching and guiding them to become better individuals. Entrepreneurs have responsibilities indirectly to their employee's family welfare which will make them feel rewarded, motivated and proud of for the company's they are working for. Employees represent the company so they have to be equipped and knowledgeable of the business process. Indirectly, they are part of brand image the company's objectives and goals towards success. 

MORE FROM ENTREPRENEURS…

Corporate social responsibility has been the trend for every company. In fact, it promotes positive brand image for the company which generate more sales and good for the business. New and existing entrepreneurs must incorporate corporate social responsibility to its mission and vision so employees will take part in helping the community. Improving the lifestyle of the community is priceless reward any enterprise can possess. CSR is also referred to Corporate Citizenship. It is the commitment by a business to behave ethically and contribute to economic development while improving quality of life of the environment. Presently, our government pursuit to change is an eternal work-in-progress and questionable mostly to citizens due to the current situation of our economy. Private sectors should take part as citizens of nation in helping by promoting social and environmental change. 3