THE DEVELOPMENT OF ENTREPRENEURSHIP

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THE MAKING OE EILIPINO ENTREPRENEUR
The making of Filipino entrepreneur is a process of trial and error. The colonization
of the Filipino fo. ,ror" than 300 years is a great factor in the slow development of
entrepreneurial activity in the country. Our concept of owning a small business like a
sari-siri store, ot u r*uil tailoring shop, or a repair shop or market distribution outlet
already makes the person an entrepreneur. While this concept is true to certain extent,
entrepreneurship ii more than being self-employed and making a living out of ihe
meagre income to support family needs or a iittle of their wants.

The success of Filipino entrepreneur stands in a very shallow foundation. Most

Filipino business startJ on a copy cat syndrome. For example, Maria wili start a snri-
sari storc and here comes Pedro seeing the flourishing business of the Maria, opens
store opposite the other corner. )uana starts a barbeque stand on the corner and here
comes Petra with another outlet with another variety of street foods. This is the scenery
in most Philippine business condition.
The food business outlet is one of the most abused and most prominent actirrities of
some Filipino business entrepreneur, including that of small outlet in the distribution
of basic [ro."ry and other items called ssri-sari store or in some cases mini-grocery
store. Some enterprising outlets include cellular phone load that adds to their income.

THE MAKTNG OF IALLTBEE FOODS CORP0RATTON

The true Filipino entrepreneur is more than of that a copy cat. \{hile rve
consider the suciess of ]olibee Corporation in the food industry, the founder is
not a true Filipino in strict sense of his origin. He has the Chinese blood which
he inherited his business acumen from his parents who knen, hor.t' business
should grow and prosper.
He started with an ice cream stand and later made it into an outlet {or
chicken joy and other food items that answer the Filipino taste buds especialiy
for children. His success was based on his talent for innorration and finding a
business that make him a multi-millionaire.

THE FOTINDATION OF NATIO)NAL BOOKSTORE

The making of National Book Store is not a myth of fortune and honev.
The founder, Socorro Ramos, came from a poor famiiy that sustained a living
from selling various items to support their basic needs. She was a working
student while in high school but because of her persistence and perseverance
she graduated with honours. Being a working student was not a hindrance to
her education as she painstakingly combined studies with hard work.

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 owned
After high school she worked as a sales clerk in Goodwill Bookstore
by her brotter where she learned the rudiments of book business, Learning
the hard way is not an easy task and starting a business empire
of national
was a
magnitude #ith *oru than 3g'branches all throughout the country
proiuct of entrepreneurial acumen coupled with determination and hard
work.
. Business capital for expansion could come from savings and other sources'
The Ramos knew that they could expand theirbusinesswith the savings
Avenue in
that they had ind bought the present office of the store at Rizal
"orrplu
built a building
Santa Ciz, Manila wh--ere a 9 itory edifice was built. They
.or"pr", in Pasig where printing and other services are being made,
with their childrery they went into vertical expansion by establishing
They
printing press to print local books and other office forms and supplies'
ventured on othei business activities and expand horizontally and-
vertically
were trained the same
and made them of what they are today. Their children
hard way and they are all successful, fiited to inherit the new growing business
empire.

LEONARD O SARAO, THE IEEPNEY KING

The success of theieepneybusiness is the making of alilipino

entrepreneur'
Sarao jeepneys abound i"
utt terminals during the early period.of.transport
developmer-ri in thu country until copy cats made jeepneys of
similar styles'
Leonardo Sarao, the jeepney king, iiarted the business by being a
helper
mechanic until he estaUUinea his repair shop from a meagre capital.
japan and
He then started buying second hand parts and engines from
its
built jeepneys that abounJin most streett of th" Metropolitan Manila and
made
suburbs. He established the jeepney factory with meagre capital
and
savings to expand his operatiot s. ft" ventured into other business
activities
and success was not based on his education but hard work and determination'
A11 his children became professionals and are now engaged
in various business
activities that made them of what they are today'
The above few successful stories of Filipino entrepreneur will serve
as a
of entrepreneurship is
self propelling reason for us to think that the making
not served in silver platter. The career of these few successful entrepreneurs
were built with entrJpreneurial genius founded on slow and painstakinghard
work. Their p"rro.tuf objective ii not only to ge19r11: money to sustain basic
needs o, *u.,tr but the greater drive for personal fulfilment.

THE CHALLENGES FOR ENTREPRENEUR SHIP

The new generation of young entrepreneur should 1o* "p the
high standard of
values and character of *ho got up the ladder of success' Success in
"nir"pru."rtt
entrepreneurial activity is based on the innei compulsion to achieve
the undeterred

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difficulties. The values and character of ]UAN TAMAD has no place in the world of
entrepreneurial vocabulary.
1,. The new entrepreneur must be a doer and willing to work hard and long until
he achieved the task he wanted for himself.

He must possess the versatility for success and self confidence that could
be overcome risk with his strong determination. The exploration of the total
business environment must be put into total perspective as it interplay with
the development of new opportunities and the risk that is attached to it.

2. Personal attention and comprehensive awareness for the progress of the

business is not trusted on other people.

The entrepreneur must be in direct control of operation and not in indirect

control. He must be able to measure the desired iesults. He must personally
verify the data and financial figures that were spent and earned in the operation
of the business.
3. The new entrepreneur must have high sense of integrity that he stands firm on
his principles and ideals.

His word of wisdom is a contract to depend on. He looks at things in

different perspectives and approaches things with varied altematives to attain
what he wants. In short, he is a visionary, innovative and would not stop until
he achieved the goal he sets for himself.

4. Emotional stability is an important factor in the making of an entrepreneur.

While he is impatient for mediocre performance and lazy bones, his temper
must remain in control. Interpersonal relationships must be the banner in
negotiations and effective personal communication is the key factor in closing
business deals.

5. The built in self -starting mechanism that drive entrepreneur to success is

his executive ability to manage people and resources. This executive ability
refers to how he plans, organizes, directs and controls the physical and
material resources under his disposal. Many entrepreneurs were describe to
have shrewd judgment in character that induced them to see things the way it
should be. He has a passion for excellence and mediocre performance has no
place in his entrepreneurial vocabulary.

The new entrepreneurs and those who believe in their capacity for long
hour of work to get things done, spend 75 percent in dieaming innovation and
putting them into action. Dreams are built around creativity as he conceived
original idea out of his imagination.
The entrepreneur is like a multi-awarded artist with a handful of trophy of
accomplishment equipped with inner drive in transforming idea into tangible
reality. Sacrifice for long working hours and abandonment of personal life

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 pleasures make the entrepreneur achieve their target goals. They organize and
develop their idea into achievable activities and surpass the factor of risk.

THE STARTING POINT TO ENTREPRENEUR IAL SUCCESS

1. Start to be on your own
An individual can never attain success in entrepreneurial activity unless
he starts his own business and releases himself as an employee for the rest of
his life. Income from employment is never enough as it is good only until the
15th and end of the month. Never have we find an ordinary employee who get
rich except those who are connected with the government and amass weaith
through graft and corruption
'You
may start as an employee, get new ideas and develop your own
entrepreneurial style from experience and education. Start dreaming and be
independent. Learn to save money and be sure to put it in proper investment
-Vfike
then make it as starting capital to operate your enterprisb. that money
work for you as you think to make it grow bigger from the dreams you have
crafted out of your imagination for success.

2. Explore the Business enoironment

The Philippines being a haven of opportunities is wide open for people

who dream to be rich and.amass fortune as we have all the natural resources.
Find the things you can do best and you must have the talent and interest in
doing it. Remember that the central objective of any business is to produce the
best goods and those that provide better service.

With the talent you acquired in conducting feasibility studies in your

college days or those that you learned from experience,apply your knowledge
in SWOT analysis, Consider opportunities for expansion as business growth is
possible under good management.

3. Be in control

The entrepreneur must be in the driver seat of his business. You cannot
trust your business to somebody who does not own the ideals and aspiration
of the enterprise. Be in control of the operation as you develop people whom
you can work with dedication and with values the same as yours. Invest your'
time with people who are achievers and do not lose your valuable time with
Iosers.

Motivate people to excel and make their desire burning for success with
their accomplishments. Make them partners in decision making and develop
their ego needs for proper recognition, People are your assets that can help
you pxopel success in your business. Think that improving efficiency and
effectiveness will create more space for growth and.development.
 4. Haae a Good Accountant or a Trusteil Financial Adaiser

While you, as an entrepreneur is busy with the management of the business,

a good accountant or financial adviser is needed to help you out in the financial
activities of the enterprise. They can help you re-invest your money to other
profitable operation.
While trust and confidence canbe given, you must also have the knowledge
of the entry in financial statements. Develop control procedures that you are still
in command in approving transaction involving money and its disbursements.
While you economizeyour expenditure, be sure that every peso is spent wisely
without sacrificing quality in products or service.

5. Seek the Ailaice of Professionals

You are not a superman to know all the legal and other matters related to
the operation of the enterprise. Seek the services of a legal consultant on matterc
with legal implications. Have your income tax prepared by good accountant
lawyers or certified accountants that know how to deal with government
regulating body in terms of tax payments.
All legal matters and intricate government transactions must be entrusted
to people with the right connection and knew how to deal with business
problem as the government as a regulating body may affect the business
operation especially in the period of expansion.

ENTREPRENEURIA L MAN AGEMENT DEMAND

Many successful entrepreneurs in the Philippines and those in the foreign countries
are not the making of known schools of management. Most entrepreneurs came from
scratch and have acquired managerial expertise in making business empires through
shared hard work and dedication. They possess characteristics and intelligence to
make things happen rather than wait for things to happen.

While schooling and learning management could guide the making of successful
entrepreneur, the individual talent and intelligence coupled with strategies akin to
other people are totally inherent to the entrepreneur.

The demands for entrepreneurial success are common in most successful

businessman.

1. The entreprefleur is Alert to opportunities and Perceptioe to make things

happen.

The entrepreneur looks at things much ahead of other people. He sees

things in different way and develops strategies to make things happen the way
he perceived it to be. An entrepreneur is a starter but makes sure that what he
started, he pursues until he succeeds in making it happen.

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 2. The Entreprefleul has the Health anil Eniluronce to Work Long Hours.
The dreamer entrepreneur could not stop working until he finds solutions
to his perceived idea. He spends 75 percent of his 24 hours time thinking and
working until he gets to the realization of his of dream. He is willing to sacrifice
personal pleasure in his quest for the true meaning of his ideal set up of the
business enterprise.

3. The Entrepreneur af Flexible anil Ailapts to Change.

The entrepreneur does not have a one track mind. He finds new avenue or
courses of action as he senses some danger zone with his plans and programs.
He makes easy revision but he makes sure that the track on hand is still towards
the direction he wanted to achieve. He crafts new alternatives solutions and
devises ways to make a difference.

/ 4. The Entreprefleul is Self-Assureil,

The entrepreneur could not easily be rattled with problems or uncertainties.

He has great trust in his capability to develop new things. His intelligence and
self confidence is always at high level. He is guided also by his faith in God
that his good intentions and actions deserve to be fulfilled.

5. The Entreprefleur Seeks Other's Opinion or Make Researches.

He believes that a person who asks question could only be fool for a minute
but one who ask no question could be fool for a lifetime. He seeks the advice of
other professionals that will help make things happen. He indulges in research
activities to find new solutions.

PROFILE OF A SUCCESSFUT ENTREPRENEUR

Successful people in the field of business are creators of things with difference.
They are no ordinary Juan dela Cruz who we can be seen around the corner. They
are people with great ambition and are alert to the environment'that they can explore
' towards successful venture. They possess eagle's eye that can see and dive hundreds
of feet down and make catch the prey of opportunities.

Most successful entrepreneurs are described to possess the following profile:

1. The Entrepreneur has Shong Desire for Inilepenilence,

An entrepreneur would not like to be attached to his employment.''He
seeks independence and strives to develop his own business. As he acquires
new insights and opportunities he would seek that sense of independence. He
thinks differently and would venture in trying to satisfy his own curiosity. He
assumes responsibility with pride and determination.

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 2. The Entreprefleur Deaelops Strong Driae to Sueceeil
Success is for people with the profound need to achieve theid"Idreams and
life aspiration. Achievements are the ego'o{ people with the inner desire for
independence. He does not depend on others as he thinks that,his sllccess
lies on his own making. He is a good organizer artd leads others,to successfui
venture. He finishes thittgs he started und leaves no stohe unturned to get his
way.

3 The Entreprefleur has Strong Determinatlon in Decision Making.

The strong personality of the entrepreneur carries with it the power to
make decisions. He is aware of developing new markets and creates new
, things to satisfy customers'needs and wants. He capitalizes on his inner drive
to make profit before anyone else could take that opportilnity. Innovativeness
and creativity go with the power to make decisions.
,19 The Entrepreneur Deaelops Feedback Mechanism for Results.
The development of feedback mechanism is one important factor in the
development of successful business entrepreneur. He goes back to where he
started and finds out things the way they are. He believes that one who does
not look back cannot go miles away from his starting point. Feedbacks are
factors for analysis and decision making. He needs dati and figures to make
wise decisions.
5. The Entueprefleur is a Results-Drioen Indipiilual.
Profit is the result of accomplishment. His achievements are the driving force
that keeps him awake for more opporfunities. He expects results for activities
he planned. Employees with *ediocre abilities and low sense of feeling for
accomplishment have no place in his organization. He expects results to be
on time and with highest quality. He is impatient for poor performance and
expects quality output.

'tut et't acERI ALsKrt L s r H AT MAKE s A suc cEs sFut ENTREpRENE uR

Being hardworking and industrious are no guarantee in the making of business
activities while they play an important role in the success of the enterprise. While many
successful entrepreneurs have not gone to business schools to acquire managerial
theories in the management of the enterprise, they have developed manageriatitcitts
through share observation, or an inherent leadership ability and intelligence.
The Entrepreneur has the following managerial skills:
1. The Ability to Plan and Conceptualize.
Conceptualization and planning go together. Good concepts need to be
put in the planning table to avoid the risk factor. The entrepreneur is able to
forecast the future by seeing to it that the risks involve are properly controlled.

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 He must be able to visualize the direction of the business towards successful
takeoff. He must see that the products or service, the pricing strategies, the cost
of production, arrrd the inventory will generate reasonable profit and return of
investment. The take off point of any business is the generation of profit based
on plans and programs.

2. The Ability to Organize the Resources of the Enterprise.

A good business organization is based on around people and resources. An

entrepreneur works with others and needs people with the same values and
working ability. Efficiency and effectiveness in the work arena are the working
of people with dedication and talent to do the job properly.

The mate;ial and physical resources must be put in place. Waste of time
and money has no place in a good organization. The entrepreneur must be
able to give specific direction and work activities that will redound to efficient
delivery of the necessary services to customers and clients.

J. The Abitity to Direct and Motioate People inhis Organization.

People are like machines that need oil that will make them work smoothly
and efficiently and effectively. Machines will bug down if no oil is put into its
chamber while in operation. The same principles work with people. They need
proper compensation and motivation for them to deliver the necessary output.

Compensation and benefits are no guarantee for effective performance

while it may serve as important ingredients. The entrepreneur must be able
to communicate ideas and plans to his subordinates with sense of humility.
Good communications and human relations will drive people to be motivated
to perform their task with pride.

4. The Ability to Control.

Controlling the whole operation is a difficult task for the entrepreneur.
Safeguards.and control mechanism could put in place with carefully crafted
policies and procedures. Such policies and procedures must b'e carefully
disseminated and understood by all who will implement them.

In the implementation stage, check valves through monitoring and

feedbacks mechanism must be worked out through reports and at times
conference with key people. The progress of operation and other activities
related to finance and marketing must generate the necessary reports as bases
for more plans and actions. Controlling cost and none essential expenses will
save important profit that could be invested in profitable operations.

5. The Ability to ManageTime.

Time Management is a very essential ingredient to the success of an
entrepreneur. Because of the numerous activities to attend to the entrepreneur
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 must be able to log on his time schedule so that important activities could be
attended to on time.

Meetings and Conferences occupy mosl of the time of entrepreneurs. They

must be scheduled properly that they will not complicate with important
paper works in the offi.":.
, .

Some entrepreneurs who burn themselves out with stress die early and
do not see the fruits of their labor. they-must have schedule for his family, his
religion and enjoy some personal pleasure that will eliminate the stressful task
of managing his business.

6. The Ability to Adapt to the Changtng Enoironment of Business.

Business today is fast changing with the advent of technology and innooation.
The new entrepreneur "rnust be able to adapt to this changes in the business
landscape for him to go with the time of progress and expansion.

Consumers' tastes and preferences are gradually changing to better quality

products and services. Competition is shifting to more'affordable quality
products and entrepreneur"must be aware of this changing customer demand.
Changes are applicable and adaptability should be given attention to gain
continuous customer patronage.
\ fhile the above discussions are the' theories and elements of good
mzrnagement an entgepreneur without formal training should attend seminars
and advance schooling to get.further into the realms of better management
theories that will help in the operaflon of the enterprise. Learning is not the
sole propertiz of those,in school. Reading and attending various management
interventions would make a great difference.

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