Factors Paper by Arlene Buan-Gerona

Entrepreneurs belong to a league of their own. They possess an extraordinary set of skills that takes a lifetime to master. It is perhaps the reason why for every successful entrepreneur a thousand more have failed.
 

 After deep contemplation, I have realized that I am far from ready to engage in entrepreneurship. I do however innately possess some skills and traits, which, if developed properly, would pave the way to my success in said field.

 I am very competitive. I always aspire to be the best in what I do. As a working adult, my competitive nature allowed me to excel in the field of sales, where success, in monetary terms or otherwise, is measured by the volume of sales one makes. My track records in my previous companies prove how result-oriented I am. I have consistently achieved my sales targets and consistently maintained market leadership of all the key products I handle.

I understand that successful entrepreneurs are competitive entrepreneurs. They always aspire to create products or offer services that are better than their competitors. It is very important to know the business which includes understanding how the business measures up against competition.

Secondly, I am always passionate about issues and things that I believe in. As a young girl in school I have been known to be very outspoken and opinionated. I am also a goal-setter. I always have sets of goals in mind and try to work passionately to achieve these goals. When I was a child, my mom told me that if I want to buy something that I really like, I would really try to find ways on how to buy it. I have the habit of saving up money to buy things that I really want. I carried this trait through adulthood where my passion for my career has allowed me to endure countless late nights in the office and in the field in order to get the results I wanted. My passion for my family, however, has made it easy for me to turn back on the career that I love.

Successful entrepreneurs are passionate entrepreneurs. Their love for their works goes beyond money. Their passion for their chosen fields allows them to live no stones unturned in achieving their goals.

Thirdly, I have a strong work ethic. I did not come from a wealthy family. My parents struggled to send me and six of my siblings to school. Working immediately after graduation was a necessity and not an option. I had to contribute my fair share and help the family. This reality has allowed me to develop strong work ethic throughout my career. I used my family situation s as an inspiration to work harder and achieve success early on in my life. I am very fortunate to have worked with multinational companies and to have been mentored by my previous bosses who are very professional and are great leaders. They have taught me lots of valuable things on how to conduct myself in a business and corporate settings.

True entrepreneurs have the best work ethic. They are the earliest to arrive in the office and the last one to leave. Weekends and holidays for them are relative, depending upon the exigencies of their businesses. They have the initiative to get things done. They have positive outlook towards work.

FACTORS I DO NOT HAVE:

Unfortunately, I am often times emotional by nature. I easily cry at the slightest adversity. This trait, at times, would interfere with the daily demands of my work. As a working neophyte, I would easily get affected by intrigues and accusations. Over time, however, I have developed a thicker skin and have learned to keep my emotions in check. I have managed to advance enough to put in the needed work even in the middle of an emotional turmoil. Admittedly, I still am a work-in progress.

Successful entrepreneurs always keep their emotions in check in making rational decisions. Most of times, one is required to make crucial decisions, and one has to be tough and think logically to come up with the soundest decisions.

Moreover, I still lack training in human resource management. Although I have good communication skills, my career path has never given me the opportunity to manage employees. All of my previous positions in the field of sales and marketing were stand -alone positions. I would welcome the opportunity to develop my people management skills.

Most successful entrepreneurs would know how to manage and motivate their employees. They are leaders by nature, inspiring their team towards a collective effort to achieve a singular goal.

I do not, however, have a strong background in finance and accounting. I graduated from a course that is neither business nor finance related. Moreover, throughout my corporate life, I was never appointed nor promoted to any finance-related position.

This realization is the very reason why I am currently taking my MBA. I am hopeful that this course would fill this void in my skill set. Entrepreneurs, after all, need some basic finance and accounting skills to succeed. 3