ENTREPRENUERS AS AN INDIVIDUAL THAT STEERS

Ken Clemente is one of the successful young entrepreneurs in Legazpi City, Albay. At a
young age, he established his entrepreneurial venture by franchising “Binalot”. He grew up in a
family of businesspeople whereas his parents have their glass and aluminum business. As a
result of his curiosity, he was able to learn insights and skills which leads him to develop them
further as he grows later on. After seeing its stand at the Franchise Show, Ken applied for a
Binalot franchise. He became very interested in the company because of its greenways and the
Corporate Social Responsibility initiatives, as he said during his interview.

The branch of Binalot in Legazpi is a dream space. It has two conference rooms and a
large dining area and a large parking space. Ken personally supervises the store and makes
sure everything is ready for each daypart of the restaurant’s operations. He also meets and
greets the customers, particularly the families who have come to enjoy his restaurant, because
Legazpi is a culinary hub in Bicol. “Every day there are new challenges but I have learned to
face up to each one with an innovative solution,” he says. But despite these challenges, he still
pursues formulating and implementing ways and strategies to make his business successful.
With that, he also opened a Binalot kiosk in Donsol, Sorsogon during the Butanding season. He
knows his market in Bicol and confidently tells his parents, "this time, I'm making the decisions.”
He also said that Binalot trained him to be decisive while keeping the standards of the brand.
And after that, he pursued opening his franchise in a mall for him to get the younger markets.
Truly a local marketing expert, Ken Clemente is a gem of a franchisee for Binalot.

Ken indeed is a good example of successful entrepreneurs at a very young age.

He was able to meet all his business goals and objectives not just because of his knowledge
and skills in operating a business but also with the use of the traits and characteristics that only
entrepreneurs have. He may already have possessed some of these traits and characteristics
as well as enhance some of them as he makes successes and progresses.

Nowadays, there are thousands of people who launch new startup businesses. Some of
them became very successful but some also failed to do so because of different circumstances.
It may be due to their lack of management skills and poor business plans and strategies. Maybe
their financial resources are not stable? Or maybe they weren’t able to choose the most
profitable market for their business. Ken Clemente was aware of these lots of risks and
challenges in running a business. Even so, he was able to cope up with those not because of
luck, but most likely the result of his good visions, efforts, and capabilities as an entrepreneur.

Successful entrepreneurs must have a clear vision of what their business will be and
should expressly state their purpose, goals, and market position coherently. They must
specifically identify the who, what, where, when, and why of their business. They must be
passionate about their business. People with enthusiasm know what inspires them to keep
trying to fulfill their vision. Exerting too much of your time and effort in doing something will not
give you the feeling of being fulfilled and satisfied if you do not love or enjoy what you’re doing.
Entrepreneurs must also remain thinking positive results at times when things get hard. They
must not easily give up and must always have the reason to exploit new solutions to their
problems. They must not become afraid of failing. Instead, they must accept all of their failures
and learn from them for them to do even better next time. There are no instant successes in life,
the same goes for doing business. That is why before choosing to pursue a business venture
that you think might be profitable, you must first assess its level of feasibility before pushing
through. No matter how successful your business, there will be bumps along the road.
Successful entrepreneurs must be flexible whereas they can bounce back from a setback. They
must use these setbacks as an opportunity to learn and grow. They understand that failure is
part of the game.

Being an entrepreneur is more complicated than being an employee. Yes, it is nice to be

called the boss in your organization but to be successful, you must put in the time and effort
required, or else your business might not be able to accomplish its goals. Another thing is,
entrepreneurs must have high confidence in themselves and their business. They must
positively project that their business with exists for a long time. And if the entrepreneur is not
well determined to make it possible, this will only result in failures. Most importantly, an
entrepreneur will only become successful if he or she has great abilities when it comes to
managing money and finances. They must take control of the cash inflow and outflows of the
business and keep track of the records of their business transactions and operations.

There are lots of skills, abilities, and competencies that require an entrepreneur
to possess to efficiently and effectively implement their business plans and strategies. Anyone
can become an entrepreneur, but only some will become successful. That is why before
engaging in the business world, it is only necessary to learn first the things that will make things
easier.