TOPIC 5 MANAGING OUR OWN BUSINESS

In this talk coach tackle about the importance of having a business, even though you have a
high paying or stable job we still need to open a business cause for me you really can’t do
everything you want with a 9 to 5 job. The salary is not enough and you don’t have enough time
to spend with your family. With building business, you can earn form your passion. Or create
innovative solution to a problem. And there are many more advantage when you decide to
create a business. As coach said in the talk people that were a successful business man have
some similarities that is a big factor for their success. First, is their mindset. People can do a lot
of amazing things if they are not held back by their thoughts. As long as they can think outside
the box and think of many possibilities they can succeed. They believe that every thing is
possible as long as they work hard. They will create new and expand things, they are always
thinking or making their business grow bigger. They always think the glass is half full and they
always have a positive view. That just some of their mindset but I believe that business man has
an innovative mind that always think of a solution to things even though its not a problem. They
create some urgency and makes you need their product or services. Business man also have
skill set that most of them have. And the good thing about this is that as coach said skills can be
learned by everybody with enough dedication. As coach said first skill that they have is people
skill, as they need to know how to navigate and bring out the best out of people and be the
common ground. Next is they develop personality skills. As they deal with many people, there
employee, investors, or customers. They need how to have a pleasing personality or how to
interact with each of them. Next is that they have skills to make and manage profit, as doing a
business need to accumulate profit if not it will fail. Next is execution, they have the skills to
execute the plan and make it happen. They don’t just plan they execute. They make their
dreams possible they have initiative to see it to the end. Coach also discusses the things that
can kill your business, first is doubt. Once you started having doubt you will fail if you can’t
manage it. Because doubt kills motivation it will eat you up to the point that you cannot think of
things to make your business productive. Mind is a wonderful and dangerous thing. You are
what you think so choose to think optimistically. As coach said not all the time will be your time.
And not every day your business will boom. You should always think that people will get bored
very fast and not all the time they will buy from you that is why one of the skills of a business
man is creativeness because they need to think of something every day to make customers
happy. And lastly distraction, as it prevents you from finishing what you started or preventing
you from taking opportunities because your distracted. And as you begin to build your business
as a entrepreneur you need to focus on marketing. You need to let other people that you exist
to make you more palatable to majority of people. Second is management, you need to
manage your time, effort and resources to maximize all the things that you have. without
managing your business will fail. And lastly is motivation, for me that is the most important
thing to have. motivation will make you go through all the obstacle that you can encounter. As
it can be your family, friends, or your goals in life. being motivated will keep you up and you get
up every time you fall. With the last topic that coach talk about is how to start a business, it’s a
bunch of question that can your metric to know what to do and how to start. This is really
helpful especially to someone like me that is really not thinking of building one. It let me think
of thinks that I can offer. What passion I have that I can profit off? Its really helpful and
informative.