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1. Think Big 3. Build a Company That Is Systems-Dependent, 5.

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Not People-Dependent
It must be borne in mind that the tragedy in life doesn’t Tell everyone what you want to do and someone will want
lie in not reaching your goal. The tragedy lies in having Systems are the essential building blocks of every to help you do it.
no goal to reach. . . . succesfull business. W. Clement Stonebusinessman philantropist
Benjamin E. Mays, minister, educator, scholar, social activist Ron Carroll, entreprenuer, business coach
When you start your business, lose the ego
It is not a disgrace not to reach the stars, but it is a Two things to learn when you begin a immediately. It’s the main reason that
disgrace to have no stars to reach for. Not failure, but business venture; First, clearly separate and describe entrepreneursdon’t seek help. An overinflated ego even
low aim is sin. the roles in the business in written form. Second, use prevents those who ask for help from receiving it.
technology to map out and build systems that simplify Rarelydo people want to help those who act as though
The Two Types of Failure in Business and automate important tasks. they don’t need it. And there’s a difference
betweenbeing confident and having an ego that’s too
A business can fail in two ways: not surviving beyond big for your own good.
Even if you are a one-person show, take the
its start and not reaching its full potential.
time to delineate the roles and expectations that people
in your business will play. Being a start-up doesn’t 6. BUSINESS COMES FIRST,FAMILY SECOND
While shutdowns receive the most attention, failure to
reach full potential is much more catastrophic. mean you have to operate haphazardly and without
Good things happen when when you get your priorities
systems. While some degree of organizational chaos is
straight.
2. Create New Markets unavoidable, you should still create, think through, and
-Scott Caan, Actor
continually optimize your systems so that you are less
If I had asked people what they wanted, they would have dependent on people. Taking this step up front puts One of the biggest advantages of
said faster horses. you further along the path to reaching your goals and entrepreneurship is independence and flexibility to
—Henry Ford, founder, Ford MotorCompany allows you to know you’re in the mode of building a prioritize. If your business is doing well, you deserve to
company take more breaks and to spend quality time with family.
The two kinds of entrepreneurs are those who create
Ifnot, you should be hard at work, making sure that you
markets and those who do not. On the one hand, the 4. Don’t Waste Time can provide for your family and generations to
entrepreneur who creates markets is considered a
Procrastination is opportunity’s natural come.torney.
revolutionary. On the other hand, the entrepreneur who
assassin.
competes in well-established markets is considered 7) DO WHAT’S MOST IMPORTANT FIRST
Victor Kiam, entrepreneur; former owner, New
ordinary. Both approaches can lead to success in
England Patriots
business, but research indicates that the creative The key is not to prioritize what’s on your schedule your
entrepreneur has a better strategic position. Blue priorities.
The best entrepreneurs create environments
Ocean Strategy, a best-selling business book, makes a -Stephen Covey, Best selling-author, The seven Habit of
of stressful urgency. Entreprenuers know that start-ups
cogent argument that creating newmarkets known as highly EffectivelyPeople
rarely get anything done in a relaxed, take-your-time
“blue oceans” is better than competing in overcrowded
environment.
industries known as “red oceans.” If you are like most entrepreneurs, the lure of crossing
something off your task list is too great tobpass up. As
If you lack the sense of urgency to grow your
The potential for attaining greatness is in creating new you bask in the happiness of having crossed off
business, evaluate why you want to be in business.
markets. If you have a blue ocean, you are on your another menial task, the more important tasks are
Perhaps you are not passionate about the business
way to tremendous success. However, if you are pushed further down your to-do list and often forgotten.
idea. Maybe your subconscious tells you that the idea
competing in a red ocean, it’s time to adopt strategies
isn't pursuing. Maybe the idea isn't yours and you feel
to spawn innovation, leading your company to 1. Do important tasks first thing in the morning when
no allegiance to it, or maybe you lack the self-discipline
significant profits and to a sustainable competitive you get up.
to be an entrepreneur. Whatever the reason,your lack
advantage.
of enthusiasm is not a good sign 2. Change your environment.
3. Disconnect from the real world. eventually put you out of business. To help you decide
what customers are worth your time, consider four
4. Take substantive breaks. . important signs which indicate that you should not take
a client and gracefully move on from the relationship.
8. REQUIRE CRITICISM AND DISAGREEMENT IN These signs apply especially to entrepreneurs who run
YOUR COMPANY a service-oriented or consulting business.

No business plan survives first contact costumer


Steve Blank, SiliconValley-based retired serial entrepreneur
1. Be skeptical of a client who seems not to know what
is needed or who constantly makes changes. Entrepreneuri
Michael Jordan was one of the best players who 2. Be careful if a client is not willing to pay an hourly

al
dominated the NBA for years. He won six rate or a piece rate of some kind.
championships with Chicago Bulls and was crowned
Most Valuable Player of the league five times. He owns 3 . Avoid any client who hesitates to sign a well-written
the Charlotte Bobcats but he cannot translate his agreement.
success in the court in the front office. Bobcats had

Mind
their worst winning history in NBA history during 2011- 4. Take heed of any less than good feelings you have
2012. They said that Jordan’s leadership is the major about a potential client.
problem and that he lacks management ability and has
no interest in running a winning team. Many of 10. MAKE MONEY WHILE DOING
Jordan;s confidants said that he should change the NOTHING
Bobcat’s leadership but most of them are afraid to tell
him what the team needs to improve. $1,000,000 in thw bank isn’t the fantas. The fantasy is the
lifestyle of complpete freedomm is supposedly allowed. -
Now, I consider opinions and criticisms part of my Timothy Ferris, author, The 4- hour Workweek
team. I find people who can question my way of Group 3
thinking. I often adopt their suggestions. Through this, Christian leaders and their followers strongly believed
my company is stronger. Jordan understands now that that charging interest on a loan was an abomination to Manalang, Lenard Christian
he must employ people who will tell him if he is headed God.
in the wrong direction.
Entrepreneurs who have figured out how to make Manalo, Jonathan
Take a lesson from Michael Jordan’s story. Surround money while doing nothing have reached the upper
yourself with honest people who tell you the good , the echelon of entrepreneurship.
bad and the ugly.
Maralit, Angela
 These overachievers have mastered the
9. FIRE YOUR WORST CUSTOMERS strategies that allow them to reach this level, Mariano, Julian
which is where all of us want to be, and it is a
Succesful organizatios (and includechurches and political major accomplishment.
parties on the list) fire the 1 percent of their constituents  Having a profitable business that can run well
Mariñas, Jessica
that cause 95 percen of the pain. without you is true freedom.
-Seth Godi, entreprenuer , author  So what strategies can carry you to this high Pamilar, Maria Alyssa
level of entrepreneurship? In a nutshell, the
Making the decision to pass on a customer is strategies are removing yourself from your
especially difficult for young or new entrepreneurs who business, building systems that are not
Punzalan, Denzel John
are hungry for business and revenues. However, people-dependent, automating activities using
choosing bad customers can cause a lot of frustration, technology, and outsourcing to the right Rayos, Darlene Jade
drain resources, damage your reputation, and partners. .
an idea until the death. We have all heard a miracle Many of the companies vanished for fziling to adapt
story or two that involves a founder who overcame to changing times and evolving with customer
great odds. Pandora, a company that Tim Westergren demand.
founded and that took ten years to turn a profit, comes
to mind. It’s quite an inspiring story of patience and A business that ignores change is a business that
persistence, but far from the norm. welcomes its own extermination . The products or
services you offer today won't keep you in business
They tend to think that the idea they haveis the only tomorrow. The very nature of business includes
good one they’ve got, demanding an all-or-nothing changing to meet customers demands im a better
response with no retreat possible.However, serial ways. If you have no strategy to proactively deal with
entrepreneurs and those who have built massive change in your business , save yourself from a slow
amounts of wealth in business rarely make this death and jusr shut down shop now.
mistake. Through their experience, they have learned
how to determine whether to stay with an idea and for
11) OUTSOURCING MAKES SENSE
how long. Their previous success enables them to
admit their failures freely and moveon to the next 16. TECHNOLOGY IS AN OPPORTUNITY , NOT A
If you deprive yourself outsourcing and your competitors THREAT
do not, you’re putting yourself out of business. opportunity.Regardless of your business experience,
you want to avoid the untamed-tenacity
Technology has always been important, but we are
-Lee Kaun, former prime minister, Singapore syndrome.Unfortunately, no definitive list of signs lets
standing on the precipice of an inflection point in human
you know if you should abandon your idea. One reason
history. Thechnology is reaching what I call the knee of
If you deprive yourself of outsourcing and your is that signs can be specific to an industry. Reiterating
the curve, a point intime which its expotential growth is
competitors do not, you’re putting yourself out of Chartier’s statement at the begginning of this sectiom,
taking is taking off at a nearby vertical slope… the pace
business.—Lee Kaun Yew an entrepreneur with the single idea can be
of progress is itself accelerating.
catastrophic. Don’t let abad bad idea derail your plans
Any functionality that is not core to your business – Ray Kirzwel, authpr The singularly is Near
for greatness. If it isn’t working, move on or adjust
should be outsourced at the best cost and quality. In quickly. - Carlos Dominguez , senior vice president at cinco ,
the majority of cases, trying on your own to produce
discussed how things that used to take a long time now
everything that your business needs is unrealistic and —Benjamin E. Mays, minister, educator, scholar, social
happen quickly and effortlessly. As an entrepreneur ,
highly inefficient.If you have believed the negative hype activist
you must be well aware of technology's power to alter
about outsourcing, quickly disabuse yourself of it and
your business. On the onehand , ignoring technology
implement the process into your business strategy. If
can mean your quick demise.
you’re subscribing to the propaganda and refusing to
even consider outsourcing, your competitors are 15. ADAPT TO CHANGE QUICKLY
One oc his examples showcased the power of social
meanwhile outsourcing and working hard to put you out media and its ability to spread information of
Change before you have to.
of business. You don’t need to be a high-profile shark uprecadented speeds. He related a story of how he
-Jack Welch, former CEO, General Electric
to understand this reality. used Twitter to avoid an immediate travel disaster in
- Don Hutson said this about change. Mexico. He ended the series , declaring , “ Times are
12)MOVE ON FAST FROM A BAD BUSINESS IDEA
expotential , ” I couldn't agree more. Technological
“ Change happens when the pain to stay the same innovation , whether rapid progress in copmuter
Noyhing is more dangerous tyhan an idea when it is the
exceeds the pain to change ”. Although Hutson was science or nanotechnology , is seemingly causing the
only one you love.
speaking to a group of individuals interested in condensation of time , it is also driving many people
-Emile Chartier, French philosopher, journalist
improving themselves , the same principle applies to out of business.
—Emile Chartier, business. A business that doesn't change or reinvent
itself periodically will experience the pain of bankruptcy 17. Always Follow Up
Why is that? Entrepreneurs are naturally tenacious, , at that grim point , change is the only option.
and expectedly so. They never give up; they stick with
"Success comes from taking the initiative and my company lost focus and with it the potential for true 20. FAILURE DOESN'T KILL YOU; IT MAKES YOU
following up. greatness. We subscribed to the common idea that expanding STRONGER
our line of products and services was a sure path to more
—Anthony Robbins, author, professionalspeaker success. It wasn’t. As a result, the company wallowed in Failure is simply the oppurtunity to begin again, this
mediocrity, trying to chase every market possible. This idea time more intelligently.
Entrepreneurs who have reached this point have not only debilitates small and medium-sized businesses, but – Henry Ford, founder Motor Company
worked hard and fought for the opportunity to present also large multinational companies.
before the angels. Despite receiving thousands of Everyone falls flat on their face at some point, but
applications, the angels accept only a few companies People think focus means saying “yes” to the thing you’ve those who we’ve deemed successful have handled,
to present before the body. This classic case of an got to focus on. But that’s not what it means at all. It means dealt with and survived these failures much better, than
entrepreneur failing to follow up is a simple mistake saying “no” to the hundred other good ideas that there are. those who quit and throw in the towel because they
that can have devastating consequences. It’s a simple You have to pick carefully. trusted they had the strength and ability to rise above
fact: Those who master the art of following up are more it. Struggle builds character, and that’s why the people
successful than those who do not, yet so many 19. EXPLORE NEW ADVENTURES FOR who are afraid to fail who never go anywhere now in
entrepreneurs overlook and underestimate this simple INSPIRATIONS life because they won’t risk it.
rule.
Exploration is really the essence of the human spirit. Failure is what makes us stronger, and that’s the thing,
Fear of rejection causes many entrepreneurs to fail to -Frank Borman, retired NASA astronaut if you are actually out there on the front lines sticking
follow up. When you follow up with people, especially your neck out by following your passions and dreams.
during a sales call or a negotiation, do it with complete Entrepreneurs operate solely within the confines of
confidence. If you receive a no, ask open-ended their industries. They socialize with the same type of Accept failure as an eminent part of the journey up
questions to learn why the situation didn’t turn out the people, go to the same kinds of places, eat the same life’s mountain.
way you wanted. Entrepreneurs lack the dedication foods, visit the same websites, read the same books,
and energy to follow up. Following up takes concerted and speak the same lingo. Or it could be that
effort and planning. entrepreneurs are focused on their businesses so

A misunderstanding of business etiquette prevents


many entrepreneurs from following up. The
much that they don’t take time to do something totally
unrelated to what they usually do. Immerse yourself in
your industry and focus on it, but step away once in a
Entrepreneuri
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entrepreneur who commits this error is self-absorbed, while, too. If you don’t, you could be missing out on a
following up but doing a lousy job at it. An entrepreneur monumental, inspirational moment that takes your
might assume that the contact should always take the business to global heights.
next step. Entrepreneurs don’t miss opportunities; they

Mind
seize them. The surest way to do this is to follow up Whenever you have the chance to travel, do so.
with everybody, especially people who can help your International travel is great, but inspiration can also
business excel. As for the elusive entrepreneur who come from a day trip to another city in your own state
sought funding from angel investors, his company has or country. Seeing how people do things in a different
not made much progress. No surprise there. environment sparks creativity. Stepping outside of your
immediate box, whether it’s your office or home, also
18. Have Laserlike Focus helps to foster inspiration.
Group 3
"You must remain focused on your journey to Placing yourself in new environments and exploring
greatness." new things enables you to apply those experiences to
other facets of life. You become a synthesizer, a skill
Manalang, Lenard Christian
—Les Brown, motivationalspeaker, author that, honed properly, could bethe key to your next big
opportunity in business. Manalo, Jonathan
In the beginning days of the company, the focus was on
building top-notch web applications and offering great value.
Maralit, Angela

Mariano, Julian

Mariñas, Jessica

Pamilar, Maria Alyssa

Punzalan, Denzel John

Rayos, Darlene Jade

Recio, Reinalyn

Regio, Karen