ENTREPRENEURSHIP

Being an entrepreneur is not just about running a business; it is the capability

and willingness to establish, expand, and manage a business where you take risks in
order for it to learn from mistakes and grow afterwards. Our activity “Entrepreneurship
Week” taught me a lot on how hard it is to become an entrepreneur and how hard it is to
put up a business. Yes, it is hard especially on the planning process where you should
lessen the cost which means that the expenses must be less than the profit. And I admit
that this is where we fail to plan in our business. In the end of our financial report we
have a net loss, and it hurts us a lot. Well, not because we lose some of our money but
because we are ABM students. It’s about our dignity where as an ABM students; we are
knowledgeable enough on how business works.

As what “How Entrepreneurs think?” says, learn from failure, which is listed on
number three. Yes, indeed, we learn from it. I learn that even if I am just a marketing
head, I should also learn how it works on the procurement team or on any other teams. I
learned that we should not just depend on them but we should work together to get a
better result. As “Great things in business are never done by one person. They’re done
by a team of people,” uttered by

I learned a lot from the symposium of Sir Samuel Jake A. Barabad which is about
franchising. As he taught us that franchising is a profitable proven business model to
follow. And we, as millennial can do a lot of contribution to our society. And as he says
that franchising for millennial is a way of business, that you have a product, the system,
and you have already the model. And also that franchising is a realistic option for
millennial in doing business.

As I’ve heard of it, it is indeed true because millenials nowadays prefers a

business which is already provided. Not just provided but the product is already proven
and tested by its consumers. The only lacking is that the money. Because franchising a
brand/product is very expensive and even though it is already proven and tested it is still
uncertain if it can gain profit.

I also learned a lot from the discussion of Sir Rodrigo C. Licayan, which is
entitled “Entrepreneurship: Learning, Unlearning, and Relearning”. In which learning, its
first part is about education. Where the importance is about learning how the business
works and on learning to understand the millennial and centennial. And to be
successful, students must learn these 10 things. Which is; (1) Adaptive Thinking, (2)
Communication, (3) Collaboration, (4) Critical Thinking and Problem Solving Skills, (5)
Personal Management, (6) Inquiry Skills, (7) Technology skills, (8) Creativity and
Innovation, (9) Soft Skills, and (10) Empathy and Perspective.

While on the unlearning process, it is about the negative mind set, the copy paste
attitude, and the consumers mind set. Where you will encounter problem vs. challenges,
and you career vs. the calling/passion. Next is that you should never copy, instead, you
should learn from your competitor, as Jack Ma said that “copy and you die”. Lastly, is
that you should change your con to entrepreneur mind set. And on the relearning
process, it is about learning through conducting a study because you will succeed in
business if you know your strengths, weaknesses, opportunity, and threats.

It is indeed true that we have a net loss. But it did not stop us to pursue our goals
in which we will gain profit at the end. Because after we heard the financial report, we
plan to take risk. That risk is to withdraw money from our capital and continue our
business. As of now, were still earning and unlike before we are now having higher
profit than expenses because we planned it very well. It may take us a lot of time before
we truly understand how business works and how really it is to become an
entrepreneur, at least, after we made our mistakes, we learned.