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