Professional Documents
Culture Documents
CARBONEL
BEED III
1. I always have a reserve supply of energy even if I am tired the whole day.
Maintaining your energy over the long-haul is the key, but everyone gets run
down. An entrepreneur's life can be exhausting, and yet your overall success hinges
on your ability to push through and keep at it, day in and day out. I have here
things on how to reserve supply of energy; Control stress- it’s important that you
find healthy ways to deal with stress, and also to recognize what may be setting you
off, so you can find ways to manage your stress; Take a mid-morning coffee break-
caffeine does help increase alertness, so having a cup of coffee can help sharpen
your mind. But to get the energizing effects of caffeine, you have to use it
judiciously; Drink plenty of water- water is also important for brain function and
will help you feel more awake and alert. When you don’t get enough of it, you end
up dehydrated, which can leave you feeling fatigued and drained; Keep your body
fueled throughout the day- make sure you’re giving your body what it needs to
perform optimally. Try eating healthy snacks, with a steady supply of nutrients and
energy, every few hours; and Get more restful sleep. Being an entrepreneur is very
hard I know but always remember that your health is more important. Make sure
that you always have time to relax, don’t be so workaholic.
2. I think of new better ways of doing things.
Entrepreneurship also forces you to be creative. While you can’t force
creativity, you can practice it and the more time you spend generating creative
thoughts, the better and faster you’ll be at doing it in a practical environment. How
you apply that creativity is entirely up to you. It could help you in a creative hobby,
like painting or photography, or give you fuel for professional visions like marketing
campaigns -- or maybe even another business in the future. Creativity gives birth to
something new. For without creativity, there is no innovation possible.
Entrepreneurs usually have the knack to pin down a lot of ideas and act on them.
Not necessarily every idea might be a hit. But the experience obtained is gold.
Creativity helps in coming up with new solutions for the problems at hand and
allows one to think of solutions that are out of the box. It also gives an entrepreneur
the ability to devise new products for similar markets to the ones he’s currently
playing in.
3. I am not upset/angered by criticisms on the way I deal with people.
Dealing with criticism is never easy on a personal level, and when you’re
being badmouthed in a way that hurts your finances as well as your feelings, it’s
even worse. Unfortunately, some people love to talk trash, and the advent of the
internet and social media only accelerate this process. If someone wants to speak
negatively about your business, they have countless outlets to do so. Always
remember that those people don’t have “ambag” in your business, some people
criticized you ‘coz they are “inggit” and they want to put you down.
4. I do not believe in luck or fate.
True luck plays only a small part in running a successful business.
Successful business owners make their own luck by working hard, staying focused
on their goals, and making the tough decisions required to grow and succeed. I
don’t believe in luck or fate because I believe in God’s will and timing. Sometimes
we are saying that because of luck our business becomes successful, no because that
is the will of God for us or for you. “Huwag laging iasa sa swerte ang pagunlad ng
negosyo mo.”
5. I believe that problems are opportunities in disguise.
As Winston Churchill said, “The pessimist sees difficulty in every
opportunity. The optimist sees the opportunity in every difficulty.” Problems can
give rise to opportunities instead of setting you back and causing stress and worry.
Problems exist at the level of the mind. The result allows a problem to overwhelm
us, or in the case of successful people, become an opportunity to gain something in
your business. You have that one characteristics that you need to possess when you
are an entrepreneur, what we called risk taker. Make sure that you are willing to
take risk, it is normal for entrepreneurs to encounter lots of problem but always
remember that you are taking the right risks especially in today’s problem having
this kind of pandemic and most of the entrepreneurs became bankrupt.
6. I am not a shame to consult people if I don’t know how to go about things.
“Hindi lahat ng bagay alam mo”, you need also other people to consult with
especially in having connections. Even if you don’t consider yourself a social
butterfly, you'll gain from adding connections to your network. Entrepreneurship
gives you a good excuse to find and retain those connections. You’ll have greater
access to employers, mentors, employees and teachers, but also hobbyists and
specialists, whom you may call upon for personal projects, as well. Just be sure to
keep in touch even after your stint as entrepreneur. These people help you grow as
an entrepreneur.
7. I want to make things happen.
Successful people dream, plan and envision what they want in life and
business just like anyone else. There are eight steps to make things happen now in
your business: Shape your destiny. Don't let other people define your purpose.
You're the engineer in charge of designing your business life. People in business
may go against you and judge you. To succeed, see this as beneficial. These
counterforces force you to stand up for your beliefs, Embrace change. Many
people have poor work habits and not all have the will or fortitude to create
healthier and more productive ones, Keep moving. To be highly successful, view
disappointments as "business-refinement opportunities." With the wisdom
acquired from letdowns, learn what you need to do to step up to the plate again and
take another swing with clearer direction, Lead authentically. Don't waste energy
trying to satisfy other people’s perceptions. Just do you, Act now. To be successful,
act now. Be fluid, risk taking, intuitive and prepared. The more prepared and
knowledgeable you are about your business, the less fear you will have
about making decisions. If you're unsure in your knowledge or afraid to lose, you
cannot succeed at the highest levels, Keep a positive attitude. Just one person's
negative attitude has the power to reverberate throughout a business like an
infection. Don't be tolerant of negative attitudes: your own or others', Expect
uncertainty. Business is fluid, so anticipate uncertainty at every turn. Make yourself
adaptable to changing circumstances to secure existing opportunities and be open to
new ones you might have missed by remaining rigid, Be healthy. It's easy to get
caught up in a fast-paced life and forget to care for the machine you live in. To be
successful at the highest levels, don't underestimate the value of good nutrition,
exercise and rest. Your brain is the greatest computer you have and directly affected
by what you ingest, exercise and the restorative powers of sleep.
8. I am more concerned with growth and development than with profit.
I think profitability and growth go hand-in-hand when it comes to success in
business. Profit is key to basic financial survival as a corporate entity, while growth
is key to profit and long-term success. Investors should weigh each factor as it
relates to a particular company. If you are earning profit, then you should have
growth and development at same time also.
9. I have enough knowledge and training to start business.
Knowledge is the key to success. An entrepreneur should possess complete
knowledge of his niche or industry. For only with knowledge can a difficulty be
solved or a crisis is tackled. It enables him to keep track of the developments and the
constantly changing requirements of the market that he is in. May it is a new trend
in the market or an advancement in technology or even a new advertiser’s entry, an
entrepreneur should keep himself abreast of it. Knowledge is the guiding force when
it comes leaving the competition behind. New bits and pieces of information may
just prove as useful as a newly devised strategy. He should know what his strengths
& weaknesses are so that they can be worked on and can result in a healthier
organization. A good entrepreneur will always try to increase his knowledge, which
is why he is always a learner. The better an entrepreneur knows his playground, the
easier he can play in it.
10. I am willing to face the consequences of my actions and decisions.
As I always say, you need to possess the characteristics of risk taking. You
should always be willing to accept or face consequences of your actions even if it is
positive or negative, always prepare yourself to face that consequences. Dealing with
the consequences of your actions means that first you: forgive yourself, get help and
talk to someone, make plans to help and salvage the situation and do not go back.
we must remember that our choices are our responsibilities. We must strive today to
be better than what we were yesterday for the sake of our business.
II.
On Barter and Money Economy
Money economy is a system or stage of economic life in
which money replaces barter in the exchange of goods. Money is something that
people use every day. We earn it and spend it but don't often think much about it.
Economists define money as any good that is widely accepted as final payment for
goods and services. In a money-based economy, I can sell my services as a bassoon
player in an orchestra to those who are willing to pay for orchestra concerts with
money. Then, I can take the money I earn and pay for a variety of goods and
services. In other words, Barter means to trade goods directly rather than through
the medium of money. Thus a barter economy is one where money does not exist or
has ceased to be functional. Primitive economies developed through bartering goods.
But, this is very inconvenient for a developing and more complex economy. For
instance, a farmer may exchange a bushel of wheat for a pair of shoes from a
shoemaker.
On Economic Growth with help of Entrepreneurship or Foreign Investors
The increase in FDI leads to higher growth rates in financially developed countries
compared to rates observed in financially poor countries. Local conditions, such as
the development of financial markets and the educational level of a country, affect the
impact of FDI on economic growth and there are Disadvantages of
foreign direct investment; Entry of large giants may lead to the displacement of local
businesses; and Repatriation of profits if the firms do not reinvest profits back into the host
country. This will lead to large capital outflows from the host country, while Entrepreneurs
boost economic growth by introducing innovative technologies, products, and services.
Increased competition from entrepreneurs challenges existing firms to become more
competitive. Entrepreneurs provide new job opportunities in the short and long term.
The Negative Aspects Of Being An Entrepreneur are:
Relationships Can Suffer. Setting up your own company will take a lot of your time.
Debt Is Inevitable. Even if you have saved up a considerable amount of money to
help you launch your business, you will still find that the cash won't go far.
Criminals Will Target You.
Stress Will Affect You.
On business opportunity: Urban and Rural areas
There are often roads of a better quality and well-built houses in urban
areas. Transport facilities are highly developed and often receive regular funding for
updates. It can be faster to get from place to place in a city or town. Most amenities and
entertainments are easy to reach. Firms in the urban area grow faster due to higher
productivity growth. New businesses also benefit from urbanization, because
they can take advantage of the infrastructure that it brings. As cities' populations
explode, governments embark on large public works projects, from highways to
airports and public transit systems. Instead, you might want to consider opening a
business in a small town or rural community. While this might seem like a mistake to
some, there are actually quite a few benefits to starting a business in this manner.
1. Less Competition
2. More Affordable To Start Up
3. You Can Likely Get a Cheaper Mortgage If You Live There
4. You Get to Help the Economy of a Small Town
5. You Might Be Closer to The Materials You Need
6. Rural Communities Are Often Very Loyal
Rural businesses are all those located in small towns and along the highways of the
country well outside the metro centers. Here are the Small Business Ideas that Work in
Small Towns/Villages
Production of organic produce.
Poultry farm.
Fishery.
Milk centre.
Wholesale of Fertilisers.
Drinking water supply.
Retail shops.
Flour mill.
LOVELY B. CARBONEL
BEED III