THE MAKING OF FILIPINO ENTREPRENEUR

The making of Filipino entrepreneur is a process of trial and error. The colonization of
the Filipino for more 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-sari store, or a small
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 is more than being
self-employed and making a living out of the meagre income to support family needs or a little of
their wants.
The success of Filipino entrepreneur stands in a very shallow foundation. Most Filipino
business starts on a copy cat syndrome. For example, Maria will start a sari- Sari store and here
comes Pedro seeing the flourishing business of the Maria, opens store opposite the other
corner. Juana 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 activities of
some Filipino business entrepreneur, including that of small outlet in the distribution of basic
grocery and other items called sari-sari store or in some cases mini-grocery store. Some
enterprising outlets include cellular phone load that adds to their income.

THE MAKING OF JOLLIBEE FOODS CORPORATION

The true Filipino entrepreneur is more than of that a copycat. While we consider the
success of Jollibee 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 knew how business should grow and prosper. He started with an ice cream stand
and later made it into an outlet for chicken joy and other food items that answer the Filipino taste
buds especially for children. His success was based on his talent for innovation and finding a
business that make him a multi-millionaire.

THE FOUNDATION OF NATIONAL BOOKSTORE

The making of National Book Store is not a myth of fortune and honey. The founder,
Socorro Ramos, came from a poor family 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.
After high school she worked as a sales clerk in Goodwill Bookstore owned by her
brother where she learned the rudiments of book business. Learning the hard way is not an
easy task and starting a business empire of nation magnitude with more than 30 branches all
throughout the country was product of entrepreneurial acumen coupled with determination and
hard work.
Business capital for expansion could come from savings and other source. The Ramos
couple knew that they could expand their business with the savings that they had and bought
the present office of the store at Rizal Avenue in Santa Cruz, Manila where a 9 story edifice was
built. They built a building complex in Pasig where printing and other services are being made.
With their children, they went into vertical expansion by establishing printing press to
print local books and other office forms and supplies. They ventured on other Business activities
and expand horizontally and vertically and made them of what they are today. Their children
were trained the same hard way and they are all successful, fitted to inherit the new growing
business empire.

LEONARDO SARAO, THE JEEPNEY KING

The success of the Jeepney business is the making of a Filipino entrepreneur. Sarao
jeepneys abound in all terminals during the early period of transport development in the country
until copycats made jeepneys of similar styles. Leonardo Sarao, the jeepney king started the
business by being a helper mechanic until he established his repair shop from a meagre capital.
 He then started buying second hand parts and engines from Japan and built jeepneys
that abound in most streets of the Metropolitan Manila and its suburbs. He established the
jeepney factory with meagre capital and made savings to expand his operations. He ventured
into other business activities and success was not based on his education but hard work and
determination. All 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 self propelling
reason for us to think that the making of entrepreneurship is not served in silver platter. The
career of these few successful entrepreneurs were built with entrepreneurial genius founded on
slow and painstaking hard work. Their personal objective is not only to generate money to
sustain basic needs or wants but the greater drive for personal fulfilment.

THE CHALLENGES FOR ENTREPRENEURSHIP

The new generation of young entrepreneur should look up the high standard of values
and character of entrepreneurs who got up the ladder of success. Success in entrepreneurial
activity is based on the inner compulsion to achieve the undeterred difficulties. The values and
character of JUAN 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 results. 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 alternatives 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.
Emotional stability is an important factor in the making of an entrepreneur.

4. 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 dreaming 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 pleasures make the entrepreneur achieve their target
goals. They organize and develop their idea into achievable activities and surpass the factors of
risk.
THE STARTING POINT TO ENTREPRENEURIAL 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 employment who get rich except those who are connected with the
government and amass wealth 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 then make it as starting capital to operate your
enterprise. Make the money work for you as you think to make it grow bigger from the dreams
one have crafted out of your imagination for success.

2. Explore the Business environment

The Philippines being a haven of opportunities is wide open for 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 losers.
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 propel success in your business.
Think that improving efficiency and effectiveness will create more space for growth and
development.

4. Have a Good Accountant or a Trusted Financial Adviser

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 can be 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 economize your expenditure, be
sure that every peso is spent wisely without sacrificing quality in products or service.

5. Seek the Advice 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 matters 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.
ENTREPRENEURIAL MANAGEMENT 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 entrepreneur is Alert to opportunities and Perceptive 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.
2. The Entrepreneur has the Health and Endurance to Work Long Hours.
The dreamer entrepreneur could not stop working until he finds solution 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 of Flexible and Adapts 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 Entrepreneur is Self-Assured.
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 Entrepreneur 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 SUCCESSFUL 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 Strong Desire for Independence.
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.
2. The Entrepreneur Develops Strong Drive to Succeed.
Success is for people with the profound need to achieve their dreams and life
aspiration. Achievements are the ego of people with the inner desire for independence. He does
not depend on others as he thinks that his success lies on his own making. He is a good
organizer and leads others to successful venture. He finishes things he started and leaves no
stone unturned to get his way.
3. The Entrepreneur has Strong Determination 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
opportunity. Innovativeness and creativity go with the power to make decisions.
4. The Entrepreneur Develops 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 data and
figures to make wise decisions.
5. The Entrepreneur is a Results-Driven Individual.
Profits the result of accomplishment. His achievements are the driving force that keeps
him awake for more opportunities. He expects results for activities he planned. Employees with
mediocre 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.

MANAGERIAL SKILLS THAT MAKES A SUCCESSFUL ENTREPRENEUR

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 managerial skills 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.
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, and 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 material 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.

3. The Ability to Direct and Motivate People in his 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 be 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 operation

5. The Ability to Manage Time.

Time Management is a very essential ingredient to the success of an entrepreneur.
Because of the numerous activities to attend to the entrepreneur must be able to log on his time
schedule so that important activities could be attended to on time.
Meetings and Conferences occupy most of the time of entrepreneurs. They must be
scheduled properly that they will not complicate with important paper works in the office.
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 Changing Environment of Business.

Business today is fast changing with the advent of technology and innovation. The new
entrepreneur must 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.
While the above discussions are the theories and elements of good management, an
entrepreneur without formal training should attend seminars and advance schooling to get
further into the realms of better management theories that will help in the operation of the
enterprise. Learning is not the sole property of those in school. Reading and attending various
management interventions would make a great difference.