Mariel C.

Bombita BACOMM – 2 Entrepreneurial Mind

1. In a 5-sentence paragraph, discuss what have you learned from the case study?
I have learned that Jack Ma's journey to becoming a successful entrepreneur, not only in
his native country but also in the whole world, was not filled with rainbows and sunshine. At the
very beginning, his willingness to learn and gain knowledge about how to speak and become
conversationally fluent in English prevailed over the fact that he was on the wrong side of history
in the eyes of the communists in their country. He was also very resourceful because he had
found ways to improve his English knowledge, and I believe that speaks volumes about how
determined and dedicated he was to attaining skills and reaching his full potential that he knew
would benefit him in the future. He had experienced numerous rejections, but that did not hinder
him from aiming high and dreaming big, which encouraged me to not fear failure, but instead
use it as an inspiration or drive to do better and be better. His journey to becoming a successful
entrepreneur was the result of his hard work, determination, dedication, and perseverance to
get to where he is now, and it was not an overnight success but many years in the making, in
which I had concluded that successful people do not become successful in a split second; you
must keep believing, manifesting, working hard, and making your own dream happen because
other people will not clear the path for you on your way to success.
2. Based on the mentioned success factors for entrepreneurs in China, what do you think
are three most important factors to succeed as an entrepreneur?
I believe that the three most important factors for succeeding as an entrepreneur are
passion, perseverance, and being a brilliant communicator. First is passion, because if you are
passionate about what you do, there is nothing that you can't conquer. It is passion that will
activate the fuel inside you that will motivate and push you to do everything in order to achieve
all your goals in mind. As you also love what you are doing, you will dedicate all your time and
effort to formulating strategies that are efficient and effective and would be beneficial for your
business or company to thrive and climb to the top. Second is perseverance. Just like in life,
business also has its ups and downs. They may also find themselves in situations where it is
difficult to persevere. There will be times when things do not go as planned or as you hoped,
and even if you believe you have done everything possible to improve the situation, it will not be
enough. There will be times when you feel like quitting is the best option, but a persistent
entrepreneur does not quit; they simply take a step back and huddle again when they are ready
to stand back up and continue moving forward. Entrepreneurs who do not give up and give in
when faced with adversity are the ones who succeed because they do not fear failure; rather,
they fear not trying again because of uncertainties and problems. Third is brilliant
communicator. If you are a brilliant communicator, you are most likely to have more
opportunities, especially in a global context, than those who are not. Being a brilliant
communicator, on the other hand, doesn't only mean that one should fluently speak English, but
someone who knows how to interact with people, radiates a vibrant energy, and establishes a
genuine and harmonious relationship with others. No one can survive in the business industry
on their own, because we have to accept the fact that we also have our own weaknesses that
can only be filled by other people who are good at what we are not good at, so it is a must for us
to gain their trust and achieve goals together. 
3. In terms of innovation, what can we learn from Jack Ma's case?
 In terms of innovation, I have learned from Jack Ma's case that one doesn't need to
know everything to start something. At first, he doesn't have any idea of what the internet is and
how to use it. Because of that curiosity about something he had no idea about, which he had
taken as a great challenge in his life, he was able to establish his first internet company. He saw
the opportunity to establish online websites when he went to the US, was introduced to the
internet, which he had no knowledge of, searched for "China" and nothing came up, and finally
saw the lack of Chinese websites as a great business opportunity. He also realized that the
internet does not only have tons of information to offer, but it could also be an online
marketplace where people can make transactions in a more convenient way.
4. Reflect on your strengths, what qualities of Jack Ma do you possess? How do you
think these qualities will advance you in becoming a successful entrepreneur in the
future?
I have a positive outlook. I'm the type of person that always looks for the silver lining in a
situation. Being optimistic will aid my progress toward being a successful entrepreneur, as I
view failure as a fresh start. For me, failure is not the end, but rather the beginning of something
extraordinary. When things go wrong, our world is thrown into disarray, forcing us to grow, see
new things, and start over. Optimism allows us to be open to new ideas, experiences, and
opportunities. It allows us to contemplate new possibilities and make positive changes in our
lives and also in our business. It enables us to look forward and construct expansive, changing
realities. I'm also a hard worker. When I fail, I don't give up. I keep trying till I succeed and reach
my objectives. For me, hard work is a continuous process. It's a series of consistent efforts over
a set period of time, with complete dedication and a clear understanding of the aim I want to
achieve.