“Developing an

Entrepreneurial
Mindset and Basic
Financial
Management
Course”

By
Mark Glenn F. Villamor,
MM
CapSU – Main Campus 1
ACISB OCT 2010 2
Workshop Outline
• What is Entrepreneurship?
• What is Entrepreneurial Mindset?
• Filipino Values Un/Favorable to
Entrepreneurship
• Personal Entrepreneurial Competencies
(PECs)
• Idea Generation, Opportunity Identification &
Selection
3
What is Entrepreneurship?
Entrepreneurship is a process
of creating something different
with value by devoting the
necessary time and effort,
assuming the risks, and receiving
the rewards.

4
Ngaman kinahanglan naton ini?
• Promotes self-help and employment
• Mobilizes capital
• Provides taxes to the economy
• Empowers individuals
• Improves quality of life

ACISB OCT 2010 5

What is Entrepreneurial Mindset?
• A set of cognitive (thinking) processes that
triggers the individuals to act or to behave
entrepreneurially.
– Sometimes it is called entrepreneurial talent or
mentality
– This mindset, talent or mentality can be changed
and modified over time
– The basis for the individual behavior

6
 Mindset and Behavior

BEHAVIOR MINDSET
(Explicit) (Tacit)

APTITUDE
(Implicit)

7
The Importance of Entrepreneurial
Mindset
• To build an entrepreneurial society
– Developing the right mindset at a very early age
– Inculcation and acculturization process need to
implemented thru various programs and activities
– Entrepreneurs as agents of change at every level
of the society
– Important contribution to entrepreneurial capital
– Entrepreneurship as a way of life

8
Activity #1: My Personal Flag
• Fold the coupon bond
lengthwise into 3 equal parts.
• Then, fold it crosswise in the middle.
• You have 15 minutes to work on your flag.
Akon mga
Akon mga
maayo nga
abilidad Paano ko nakita
pamatasan
ang akon
kaugalingon 5
Akon mga ka tuig halin
Akon mga
malain nga subong?
kahinaan
pamatasan 9
Ugaling Pilipino na Pabor sa Entrep
• Pakikipagkapwa
• Lakas ng Loob
• Katapatan
• Mapagmalasakit
• Sipag
• Katipiran
• Pagtitimpi
• Matibay na Pagkabuklod-buklod ng Pamilya
ACISB OCT 2010 10
Ugaling Pilipino na Di Pabor sa
Entrep
• Batang malikot/atribida
• Kapalaran
• Amor propio (ma-pride)
• Bahala na
• Mag-ingat sa pamilya
• Colonial Mentality
• Crab Mentality

11
Activity #2: Entrepreneurial
Characteristics Test
• Rate yourself honestly.
• You will be asked to choose three
entrepreneurial qualities and illustrate how you
have demonstrated these in the recent past.
• Just check one box for every category.
• You have 10 minutes.
• 3 participants must volunteer to present.

12
PECs
• PECs have been widely researched in the 60s
and 70s in different countries
• Researches identified as much as 250 personal
traits
• Finally and after many years of testing, they
agreed on 10...

ACISB OCT 2010 13

10 PECs
1. Be an Opportunity Seeker.
2. Be Persistent.
3. Be Committed to What You Set Out to Do.
4. Set High Standards of Quality and Efficiency.
5. Take Risks.
6. Seek Information.
7. Set Clear and Realistic Goals.
8. Plan Systematically.
9. Be Persuasive and Build Up Your Network.
10. Believe in Yourself.
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 Business Profit & Loss
What is Income?
Income generally refers to net profit: what
remains of revenue after expenses have been
subtracted.
Income is money that comes into your
business.

ACISB OCT 2010 15

 How does money come into your
business?
• By producing and selling goods
• By receiving gifts from friends or family
members
• By getting a loan

ACISB OCT 2010 16

 What is an Expense?
Expense is money spent or cost incurred in an
organization’s effort to generate revenue,
representing the cost of doing business.
Expenditure is money that goes out of your
business.

ACISB OCT 2010 17

 How does Money Go Out of your
Business?
• Materials
• Services like:
o Transport
o Electricity bills
o Rent
• Salary and wages

ACISB OCT 2010 18

 Unnecessary Expenses
Unnecessary expenses are expenses that people
make out of temptation, but they are not
really necessary.

ACISB OCT 2010 19

 What is Profit?
PROFIT = TOTAL SALES less TOTAL COST
Sales Costs Profit/Loss
Php100,000 Php75,000 Php25,000
Php100,000 Php125,000 Php25,000
Total sales greater
= Profit
than total costs
Total costs greater
= Loss
than total sales
Total Sales = Total
= Break-even
Costs

ACISB OCT 2010 20

Activity
What is the money that goes out of your
business to produce your goods?
• Ano nga mga gamit imo ginabakal?
• Ano nga mga “utility” imo ginabayran?
• Pila imo ginabayad sa imo nga manug-obra?
• Mga kalay-uhon?
Pila imo ginabaton sa pagbaligya sang talaba?

ACISB OCT 2010 21

The only way to do
great work is to love
what you do. If you
haven’t found it yet,
keep looking. Don’t
settle – Steve Jobs
22
Which one is the ideal dream car?

23
Your preferred lifestyle?

24
ACISB OCT 2010 25
 Socorro Ramos of theChairman of
National Bookstore
PCCW HK

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John Gokongwei of JG Summit, etc.
Kilala niyo siya? Familiar ang itsura?

ACISB OCT 2010 27

Thank
you
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