Moraleda, Luke L.

CIV 0411-2 April 28, 2021

BSCE 3-2 TECHNOPRENEURSHIP 101 Engr. Leonardo C. Sawal

Questions and Answer.

1. 12 Effective Ways to Build Entrepreneurial Skills That Matter
-The12 tips is effective during the limited activities/movements in techno-
entrepreneur course? (if the 12 tips is not applicable name some more
applicable during the pandemic situation and explain-can explain by individual
or group)
According to the material the 12 skills needed to be an efficient entrepreneur
are as follow, however it will be discussed why in this paper and how the said skill
will be relevant in today’s time during the pandemic.
a. Take a different path
This skill highlights creativity which is the ability to create or innovate solutions
to certain problems. This skill is important for entrepreneurs which enables
them to discover ideas essentially for business. Many businesses, specifically
small businesses, have suffered greatly because of the world’s health crisis.
With the uncertainty of this time, as well as the future, creativity may be more
important now than ever before. Having a creative mindset toward your
business or the company for which you work may make the difference
between success and failure in these volatile times.
b. Start a business.
For me this idea highlights the skill for being a risk-taker with the goal to start a
business. In this time, it is hard to start a business due to certain protocols that
limits the movements of people needed to obtain some resources needed.
However, with the determination and creativity to overcome the problems,
starting a business may be an opportunity in this time of pandemic. Many
people actually got the idea of online selling and started their business in the
virtual world. With such example, the economy is still surviving with the help of
these business even though the movement of people is restricted. So the
skillset to start the business is also important for nation building since it helps
the economy grow even by little just to prevent it being stagnant or no
improvement at all.
c. Stick with challenges.
This line highlights perseverance as an important skill to be an effective
entrepreneur. For me this is the most crucial quality or skill because from the
definition itself, the persistence in doing something despite difficulty or delay
in achieving success. Every business do not start to be successful in just days
or an overnight, some take months and years to be successful. In terms of our
current situation, this skill is highly favored because the pandemic made a
huge obstacle for entrepreneur to start or continue their business. Being
persevere is not only to continue from a setback but it is also a skill to learn
from that problem which enables one to succeed in his/her business.
d. Delay Gratification
For me this kind of attitude or habit may be a considered a skill to work on to
be an efficient entrepreneur during this time of pandemic. Delay of gratitude
will prevent us entrepreneurs to buy unnecessary things and just to focus on
the needs. With this in mind, we can focus on to innovate and get more
motivated to achieve success in both business and in life.
e. Volunteer to lead.
Leadership is another of the important aspects to be an efficient
entrepreneur. This is needed because it is not only to lead other people but
also to lead yourself to be responsible in terms of management. One
example of application that is happening right now is the community pantry.
This shows how people want to volunteer and help others. I believe this
situation can be a best practice to be an efficient entrepreneur to be a
volunteer and a leader to the organization that will be set up.
f. Practice Communication skills
To be a good entrepreneur is to be a good speaker so you can persuade
people to follow you or patronize your products or services. One way to
improve communication and social skills for today’s situation is by being
exposed to social media and being part of the system. However, this needs
to be done carefully and practice the value of think before you click
because social media can also be a threat to your image.
g. Learn from a mentor
We know that experience is the best teacher, however we all need help and
advice especially to those who are really experienced. Having a mentor also
provides motivation to entrepreneurs to and opportunities in the real business
world. This is also important even in our current situation because many
entrepreneurs are lost in track due to obstacles that the pandemic causes
that is why having a mentor to gain advice and motivation is an advantage
to be an efficient entrepreneur.
h. Work in sales.
Sales is a vital role to sustain the business, it can also be the basis of success.
That is why this skill is crucial to be an entrepreneur because it is the main
goal for someone who has a business. In order to strategically have many
sales, the entrepreneur must study and create a plan in order to obtain a
good target market and enable possible customers to know the product or
services.
i. Get involved with other entrepreneurs
Getting involve means also getting connection. A good connection provides
someone the advantage to many resources in certain situation. It is
important to know other entrepreneurs around you to know what kind of
business will you implement in that certain place.
j. Help others with their business
Same situation in getting involved with other entrepreneurs, you can also
help them with their business by creating a partnership or establishing a
supplier. This is also applicable if you want to help someone create a small
business by providing a right reseller price for your product so you will also
have sales at the same time providing opportunity to others who also wants
to earn.
k. Keep learning
Learning constantly is important. In the business world not everyday we
succeed. Some or most of the time we fail and that is when we need to study
or learn a lesson from our mistake in that part. This is applicable to everyone
even to those who are already successful. Because even if someone is
knowledgeable there are things that they still not now. So to be an efficient
entrepreneur is to keep learning and accept failures as a stepping stone to
succeed.
 2. 5 Skills That Are the Foundation of Entrepreneurial Success
-How significant in techno-entrepreneur and explain each.
The five skills fundamental to entrepreneurial success are the following:
1. RESEARCH – from the formation of a business, up until its creation – research is
a key skill that is incorporated with everything related to business itself: this skill is
used in all stages of a business’ foundation: its planning, launch, and present
day running as a business. Such research includes some of the following:
competition, demographic, employees, potential problems, etc.
For a techno-entrepreneur, this is a vital skill to have especially during the time of
this whole pandemic, where most businesses have shut down due to them not
being able to adapt to the changes brought about by the pandemic. Of
course, this hurts some businesses more than others, for example – businesses
that require physical interactions such as malls, stores, and outlets. Yet it also
favors businesses such as the ever-growing online shopping businesses, as well as
courier businesses.
2. FOCUS – this may count simply as a trait due to it being natural to some
people, making them ideal persons to run a business. That being said, this is
included as a skill because focus can be learned and improved upon over time.
Focus is a skill that allows one to be committed to his/her business, resulting into
the business’ output, longevity, and productivity. People without this skill tend to
run everything simultaneously, without the necessary skill to think and prioritize on
what to do first and which is more important. This usually leads to the downfall of
a business, hence the necessity acquirement of the skill as a entrepreneur or a
technopreneur.

In the time of the pandemic, focus is just as importance as before or even more
so. With the changes and constrictions brought by the coronavirus,
technopreneurs need to be able to focus on the important aspect of their
business, as well as be able to identify which aspects of their business are
deemed as important.

3. CASH MANAGEMENT – be it the start of a business or the management of a

person’s monthly budget, cash management is a vital skill for any person that
has money. For technopreneurs however, the proper management of cash is a
skill that, if done correctly, leads to the profitability of their business. Done wrong
however, it leads to the downfall of it. As technopreneurs, it is our responsibility in
delegating where our cash would go, from amenities, operatory expenses,
payroll, etc. its our choices regarding where money should go is what makes this
skill vital to any would-be business owner.
And in the pandemic, it holds the same weight. Now, technopreneurs have a
somewhat lighter load since most businesses could be done at home, negating
the need for rent expenses. This being said, technopreneurs now have to
allocate monetary resources well so that their business will maximize in its profits
amidst of other expenses such as shipping, a new necessary expense that most
businesses need in this present times.

4.COMMUNICATION – it is key for businesses, entrepreneurship, relationships, etc.

a vital skill that allows a technopreneur to be able to obtain the necessary raw
materials one need in order to created goods. It also allows the technopreneur
to be able to sell them successfully to clients and customers efficiently. It ensures
that the business runs smoothly and negates the rise of problems down the line
of manufacturing. On a big business scale, communication allows for the
smooth workflow and the proper relay of instructions to the workforce.
Even before the pandemic, communication is a key skill that ensures everything
goes to plan accordingly. Today it holds the same level of importance, as online
communication may be the only means for business owners and
technopreneurs to be able to communicate with their partners, investors,
customers, etc.

5. LEARNING – a important skill in business making and in life itself – learning is an

ever-present skill that is as needed as it is required in any business venture, as it
paves the way for the further optimization of a technopreneurs business.
Knowing the world, only change is permanent: a business strategy from the past
may not be as effective as it is for today’s setting, hence the need to be able to
learn and adapt with the ever-changing times and be able to keep the business
afloat.
And, during this period of the outbreak, a great change has arrived in the
business world, one that would be the downfall of any business not able to
adapt and learn. So, for technopreneurs to be able to sustain and keep their
business, learning is vital. From being able to look at trends, to basic learning of
the demographic’s demand, to new ways to sell product, learning may be able
to be the key to keeping the business alive and well.