ENTERPRENUERSHIP

Entrepreneur
 One who organizes, manages and assumes the risk
of business
 One who starts his own, new and small business
WHY GO INTO BUSSINESS?
Why be an entrepreneur?

Rewards?

Risks?
Rewards of Going into Business

 Having unlimited
opportunity to make
money
Rewards of Going into Business

 Being your own boss

 Tapping your
creativitty
Rewards of Going into Business

 Overcoming
challenges and finding
fulfillment
 Opportunity to help
others
Rewards of Going into Business

 Building an
entrepreneurial legacy
Risks of Going into Business

 Possibility of failure
Risks of Going into Business

 Unpredictable business
conditions
 Long hours of work
Risks of Going into Business

 Unwanted or
unexpected
responsibilities
Risks of Going into Business

 Threat to life and

security
 Kidnap for Ransom
 Robbery
Risks of Going into Business

 Break-up of family
relationships
Characteristics of Entrepreneurs

1. Take and Accept Risks

2. Own Ventures
3. Managers
Characteristics of Entrepreneurs

4. Establish New Ventures

and Develop Existing
Ones
5. Identify Opportunities
in the Market
6. Apply Their Expertise
Characteristics of Entrepreneurs

7. Establish New Ventures

and Develop Existing
Ones
8. Identify Opportunities in
the Market
Characteristics of Entrepreneurs

9. Apply Their
Expertise
10. Process Market
Information
11. Bring Innovations
 Process Market Information
 8. Entrepreneurs Bring
Innovations
 9. Entrepreneurs Provide
Market Efficiency
 10. Entrepreneurs Maximize
Investment Returns
 11. Entrepreneurs Provide
Leadership
Maximize Investment
Returns
Provide Leadership
Starting a Small Business
 STARTING A SMALL ENTERPRISE: PROCESS FLOW

 Look Within: Do you have

what it takes?

 Look Outside: What are the

helping/hindering factors?
 STARTING A SMALL ENTERPRISE: PROCESS FLOW

 Determine your
products/service line and
type of business
 STARTING A SMALL ENTERPRISE: PROCESS FLOW

 Write your business  Marketing Aspects

plan
 Technical (Production)
 Organizational
Aspects
 .Financial Aspects
Starting a Small Business
 Raise capital
 Seek other sources of
assistance, if necessary

 Choose your business

location
Starting a Small Business

 Register your business

 Hire/train personnel
LOOKING INSIDE
 SELF-ANALYSIS

Do you have what it takes

to go into business?
Do you have what it takes to go into business?
 A successful  Extensive research by
entrepreneur possesses the Management
personal qualities that Systems International
will help him grow and reveals ten Personal
thrive his business. Entrepreneurial
Competencies (PECs)
that lead to success.
Do you have what it takes to go into business?
 Achievement Cluster
 Planning Cluster
 Power Cluster.
Do you have what it takes to go into business?
 Achievement  1. Opportunity- seeking
Cluster  2. Persistence
 3. Commitment to work contract
 4. Risk-taking
 5. Demand for quality and
efficiency
Do you have what it takes to go into business?
(Planning Cluster)

6. Goal-setting
Sets clear and specific short-
term objectives
Sets clear long-term goals
Do you have what it takes to go into business?
(Planning Cluster)
7. Information-seeking

 Personally seeks information
on clients, suppliers, and
competitors
 Seeks experts for business or
technical advice
 Uses contacts or networks to
obtain information
Do you have what it takes to go into business?
(Planning Cluster)
8. Systematic planning and 
monitoring
 Develops logical, step-by-step
plans to reach goals
 Looks into alternatives and
weighs them
 Monitors progress and shifts to
alternative strategies when
necessary to achieve goals.
Do you have what it takes to go into business?
(Power cluster)

9. Persuasion and
networking
 Employs deliberate
strategies to influence or
persuade others
 Uses business and
personal contacts to
accomplish objectives
Do you have what it takes to go into business?
(Power cluster)

10. Self-confidence
 Believes in self

 Expresses confidence in
own ability to complete a
difficult task or meet
WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?

 While you are looking  Experience

at yourself, consider  Education
what else is in you that  Hobbies
will orient you towards
a business  Interests.

WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?
1. What previous jobs have you
held that may help you succeed
in business?
 Teachers start tutorial services
or schools.
 Seamstresses go into garments
and soft toys manufacture.
 Carpenters into sash making or
contract work in construction.
WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?
1. What previous jobs have you
held that may help you succeed
in business?
 Teachers start tutorial services
or schools.
 Seamstresses go into garments
and soft toys manufacture.
 Carpenters into sash making or
contract work in construction.
WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?
1. What previous jobs have you
held that may help you succeed
in business?
 Teachers start tutorial services
or schools.
 Seamstresses go into garments
and soft toys manufacture.
 Carpenters into sash making or
contract work in construction.
WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?
1. What previous jobs have you
held that may help you succeed
in business?
 Teachers start tutorial services
or schools.
 Seamstresses go into garments
and soft toys manufacture.
 Carpenters into sash making or
contract work in construction.
WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?

2. Do you have a hobby

that you can expand
into a business?
- Interior designing
- Pottery
- embroidery or baking.
WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?

2. Do you have a hobby

that you can expand
into a business?
- Interior designing
- Pottery
- embroidery or baking.
WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?

2. Do you have a hobby

that you can expand
into a business?
- travelling
- Pottery
- embroidery or baking.
WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?

2. Do you have a hobby

that you can expand
into a business?
- travelling
- Pottery
- embroidery or baking.
WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?
3. Have you had technical
training on which a
business can be based?
 auto repair?

 Computer assembly?
Bookkeeping?
welding/forging?
WHAT ELSE IS IN YOU THAT WILL ORIENT YOU TO
BUSINESS?

4. Are you genuinely

interested in getting
into a potentially risky
business rather than a
stable 8 to 5 job?
LOOKING OUTSIDE
 Could you see if the
environment is a
conducive one for
entrepreneurship?
LOOKING OUTSIDE
 Could you see if the
environment is a
conducive one for
entrepreneurship?
Questions to ask about the “outside world”

1. How adequate is the

infrastructure for business in
your community, province or
city?
- roads and bridges
- power and water
- telephone, postal
- internet facilities
- banking services?
Questions to ask about the “outside world”

Is the environment
peaceful, safe and
orderly?

Questions to ask about the “outside world”

3. What are the incentives, assistance

programs and other support that the
national and local governments
make available to business,
especially to small, start-up
businesses?
- tax exemptions and discounts
- low-interest financing
- technical assistance, marketing and
promotional services,
- training, etc.

Questions to ask about the “outside world”

3. What are the incentives, assistance

programs and other support that the
national and local governments
make available to business,
especially to small, start-up
businesses?
- tax exemptions and discounts
- low-interest financing
- technical assistance, marketing and
promotional services,
- training, etc.

Questions to ask about the “outside world”

4. How prepared is the government

bureaucracy to serve the needs
of businessmen?
- Are civil servants courteous and
service-oriented?
- Are procedures and requirement
for business registration, for
example, clear and simple?

Questions to ask about the “outside world”

5. Study national and local

market trends
- business growth and
market share
- purchasing power of the
public
- confidence in the economy.


Questions to ask about the “outside world”

6. Study imports.
What goods does the country import
from abroad?
What goods and services does your
particular community or town
“import” from Manila and other
big cities?
Think whether you can provide these
goods and services locally. This is
known as “import substitution”.

Questions to ask about the “outside world”

7. Think of other
possibilities:
- Subcontracting

- public sector purchasing

- franchising, dubbed as

the “business with the

least fears”.
DETERMINING PRODUCT LINE AND
BUSINESS TYPE


 1. Product industries –
 - manufacture your own product,
either for the mass market or for the
mass market or for specialized or
individual demands.
 Canned goods, wooden or plastic
toys, and ready-to-wear garments
 precision instruments for industrial
use, and made-to-order furniture

DETERMINING PRODUCT LINE AND
BUSINESS TYPE
2. Service industries
– Service enterprises include repair and
maintenance shops, printing and machine
shops,
- food retailing and catering
establishments.
- Information Technology (IT) industry is
largely service.
- call centers, internet cafes, computer
hardware and software shops, and
business solutions programming
companies.
DETERMINING PRODUCT LINE AND
BUSINESS TYPE
 3. Process industries

DETERMINING PRODUCT LINE AND
BUSINESS TYPE
4. Subcontracting
industries