THE ENTREPRENEURIAL MIND
▪ Entrepreneur – “between taker“ or “go
What is Entrepreneurship?
Setting up a business or businesses,
taking financial risk in hope of profit.
BUSINESSPERSON VS
ENTREPRENEUR
Businessperson – Enters the business
world by contributing to an existing
business or product ideas, usually in the
form of franchising or retailing.
Entrepreneur – enters the business
world by transforming the original idea
or innovative product into a start-up
company.
Original Ideation
Inherent risk taking
Risk management
Embracing change
Revenue growth
ORIGIN AND NATURE OF
ENTREPRENEUR
There is an indication that the term
entrepreneur or entrepreneurship
originated in Europe sometime in the
middle ages.
▪ Entrepende – “To undertake“
between“
Contemporary views on
entrepreneurship
Lloyd Shefsky - define entrepreneur
by dissecting the word entrepreneur into
three parts as follows:
▪ Entre means “to enter“
▪ Pre means “before“
▪ Neur means “nerve center“
Jeffrey Timmons and his co-authors of
the book entitled New Venture Creation –
Described entrepreneurship as the
ability to create and build a vision from
practically nothing.
William Bygrave – An entrepreneur is
someone who perceives an opportunity
and creates an organization to pursue it.
Howard Stevenson – The pursuit of
opportunity beyond resources
controlled.
▪ A class of professional entrepreneurs
is emerging today who rely more on
their brains than their guts - and who
have been trained to use both methods
and technology to analyze the business
environment.
ELEVATOR PITCH
The concept of elevator pitch is to engage
your audience, make your point quicklu,
and leave your audience interested and
wanting to hear more – not an easy feat
when your have two minutes or less to
state your business (O’connell, 2018)
Asking for Business
1. Introduce yourself
2. Provide a summary of what you do
3. Explain what you want
4. Finish with a call to action
Advantage of an Elevator Pitch
▪ Builds confidence
▪ Fewer/ No mistakes
▪ Concise and precise
▪ No awkward pauses
▪ Sound professional
▪ Good impression
▪ Practice makes perfect
When to use an Elevator Pitch
▪ To investors
▪ Website sales page
▪ Social media pages
▪ A short bio about your book
▪ Pitching a new idea to management
▪ Job interview
How to Write an Elevator Pitch
It’s always a good idea to write your
elevator pitch well in advance, then hone
it to perfection, and learn to deliver the
speech perfectly.
▪ Know your subject
▪ Present your case
▪ Here’s what I do
▪ Here’s what makes us unique
▪ Summarize and capitalize
What to Avoid?
▪ Don’t be generic
▪ Not making eye contact
▪ Not making the case for yourself
▪ Talking too fast
▪ Coming off as desperate
3C’s of an Elevator Pitch
1. It should be clear – Make your
point directly and efficiently.
2. Keep it concise – Be short and
sweet.
3. Having a compelling angle – Make
your audience want to hear more.
GUERILLA MARKETING
▪ Guerra - War
▪ Guerilla is a form of irregular warfare
in which a small group of combatants,
use military tactics including
ambushes, sabotage, raids, petty
warfare, hit-and-run tactics, and
mobility, to fight a larger and less-
mobile traditional military.
▪ An advertisement strategy done in the
streets or other public places with
little money.
▪ Uses multiple techniques and practices
in order to establish direct contact
with the customers.
• Ambient marketing
-Use of elements of the
environment
• Ambush Marketing
-Form of associative marketing
• Stealth Marketing
Entering, operating in, or exiting a
marketing in a furtive, secretive or
imperceptible manner
• Viral/ Buzz Marketing
Encourages individuals to pass on a
marketing message to others.
• Grassroots marketing
Aims to win customers over an
individual’s basis.
• Astroturfing Marketing
Generating an artificial hype
around a particular product
through a review or discussion
• Street Marketing
Advertising or promoting products
and brands in public areas
Objective
➢ Establish direct contact and
create connection
➢ Get people to remember the brand
in a different way
➢ Low cost, wider reached
➢ Element of surprise
➢ Tap emotion (affective)
➢ Create a buzz
➢ Tap the unconscious mind
THE HISTORICAL BACKGROUND
1600 – Entrepreneurship is an old
phenomenon. Conquest of countries was
regarded as a form of Entrepreneurship.
1755 – Entrepreneurial phenomenon
formally introduced into the literature
on trade, economy and business.
1800 – The distinction was made between
those who supply funds and those who
create profit. (Coulter 2003)
1900s – Frank Knight saw it as the
entrepreneur’s function to carry the
uncertainty within the economy on his
shoulders.
From the 1960s until the 1980s
entrepreneurship was often defined from
the perspective of a psychological
mentality.
Hornaday & Bunker (1070) –
Entrepreneurial qualities: Energetic
participation in endeavor, confidence,
desire to be your own boss, and need to
accomplish.
Entrepreneurship as an organizing
process that leads to a particular
output, namely the formation of a new
organization.
Rather than defining
entrepreneurship in terms of
organizational formation, the
opportunity tradition defines
entrepreneurship as the discovery,
evaluation and exploitation of
opportunities to introduce new goods and
services, ways of organizing, markets,
processes and raw materials. (Shane
2003)
Schumpeter (1934), stress the
importance of the entrepreneur’s
character traits and personality.
Overall, he sees the entrepreneur as a
particularly innovative individual – ‘A
Great Man’ who through creative
destruction creates new waves of change
in the economy.
Factors such as birth order,
entrepreneurial parents, encouraging
parents, work experience, education,
gender, age, etc. are assumed to influence
whether you become an entrepreneur
(Hisrisch & Peters 2001)
▪ Novice Entrepreneur – No
entrepreneurial experience
▪ Habitual Entrepreneur – With
previous experience
▪ Serial Entrepreneur – Constantly
establishing and selling organizations
▪ Portfolio Entrepreneur – Owns
several organizations simultaneously.
▪ Nascent Entrepreneur – in the
process of considering the
establishment of a new organization –
can be either a novice habitual, serial
or portfolio entrepreneur
▪ Intrapreneur – Acting
entrepreneurially within an existing
organization
FILIPINO ENTREPRENEUR
(TAMBUNTING)
Don Ildefonso Tan Bunting – Started
making a living by collecting garbage in
the streets of Manila using a horse-
drawn carriage receiving five centavos
per can from the City Government of
Manila.
Striking a deal with Tan Bunting,
Manila’s Gobernadorcillo agreed to give
the garbage collector the vast tracts of
marshlands of Divisoria, Tondo, Malabon,
and Navotas, according to the history
page of Tambunting.
In 1896, Doña Filomena Concepcion
de Tan Bunting, wife of Don Ildefonso, with
the help of the money derived from their
new estate, began to realize her dream of
setting up a pawnshop.
At that time, only the Catholic
Church was the other organization that
lent money to Filipinos through the Monte
de Piedad, the first savings bank in the
country.
In 1953, Antonio, the second to last
son of Ildefonso took a particular
interest in the pawnshop business, Under
the guidance of his father, Antonio
opened their sixth store in San Juan
Manila under the trade name Casa
Agencias de Empenos de Tambunting Y
Hijos. He operated the store with the
same passion and dedication as his
parents. He will later inherit all the
pawnshop stores.
All businesses suffered during WW2, the
Philippines is under the regime of Japan. A
few days before the Japanese-supported
government collapsed, many of the
businesses refused to open to avoid
transacting with the ailing Japanese
currency, knowing that it will soon be
demonetized once the American
government took over. In spite of this,
Antonio Tan Bunting willingly open its door
and allow his customers to redeem their
pieces of jewelry and valued belongings,
Within days, all the remained in the vaults
were a few pieces of unredeemed jewelry
and a pile of worthless Japanese
currency.
Antonio L, Tan Bunting Sr. had to
began the painful process of rebuilding
the business altogether, He immediately
raised the capital required to jump-start
the business and successfully opened his
doors a few weeks later. Soon, the loyalty
of his customers paid off and Casa
Agencias de Antonio Tambunting y Hijos
was back in business.
ENTREPRENEUR’S PERSONALITY
1. Environment
2. The personality of the
Entrepreneur
▪ Easy – Fully supportive of
Entrepreneurships.
▪ Less easy - Moderately supportive of
Entrepreneurships
▪ Hard – Not supportive of
Entrepreneurships
Every person has a personality
that is unique and different from others,
and each personality type has a
corresponding type of jobs that fits it.
▪ Realistic – prefers activities involving
aggressive behavior and physical
exertion skills, strength and
coordination.
▪ Investigative – analytical, curious,
methodical, and precise.
▪ Artistic- expressive, nonconforming,
original, and introspective.
▪ Social – Enjoys working with and ▪ The desire to create one’s own job
helping others and purposefully avoids security
systematic activities. ▪ The desire to improve one’s quality
▪ Enterprising – enjoys verbal activities of life.
to influence others and to attain
power and status
▪ Conventional – enjoys systematic
manipulation of data, filing of records,
or reproducing materials

Successful entrepreneurs possess

certain characteristics that are unique
and different from those having other
occupations.
• Drive
• Thinking ability
• Human Relations Ability
• Ability to Communicate
• Technical Knowledge
• Reasonable Risk Taker
• Self-confident
• Goal Setter
• Accountable
• Innovative

▪ The desire to be one’s own boss

▪ The desire for financial rewards