PART 1

good morning fellow learners good day i'm mentor ray i will be your mentor for this
concept and i'd be happy to discuss
1:18
with you and share my experiences about the go negotia formula and this is about the
entrepreneurial
1:25
mind okay here are our objectives for the day at the end of the session the learners
1:31
shall explain what is the entrepreneurial mind identify five requisites of the
entrepreneurial mind
1:37
and explain how to nurture the entrepreneurial mind
1:46
so as your mentor for today i'd like to do something that most of you oh shall i
1:52
say a lot of us would want to do especially now that social media is in we all have our
social media accounts
1:59
and we love to share something about the past so let me begin our session with that
kind of thing
2:07
so these are actually the 13 entrepreneur who in 2005
2:14
after the appointment of them
2:20
a presidential consultant for entrepreneurship joey concepcion by the president gloria
marpagal arroyo
2:27
we actually gathered upon his calling for us to form an advocacy
2:34
group so within this group okay we have governor el rey villafuerte vivienne
2:40
time of course the daughter of liu japan the very famous doctor to the stars dr vikki
bellow
2:46
youth advocate anne marie pereke presidential consultant for entrepreneurship mr joey
concepcion our
2:52
boss ohoro ramos of national bookstore
2:58
and of course dr talesa of splash corporation a good and dear friend les
3:04
reyes of race haircutters jay aldiger of island souvenirs and of course
3:10
uh mr fior gelato himself richie kuna
3:15
and the president of ceo and bob sunji of bubs and jeans mr victor time
3:22
where am i in this picture okay let me introduce myself there you
3:27
go that's your mentoring a lot of people will get to see this picture they would usually tell
me
3:35
okay does that mean really that you have to look older to be a little more mature looking
when you enter into business
3:41
transactions so the gomigosho advocacy group has a goal in mind which is to change
3:47
the mindset and the attitude of the filipinos and actually our motto is teach a nation how
to fish and feed the
3:55
nation many lifetimes so in essence we're saying do not just give
4:03
the filipinos the fish teach them how to get it and that's the very
4:10
essence of our discussion for today so this is actually the
4:16
first goldie gosher book that contains the 50 inspiring entrepreneurial stories from 50
entrepreneurs in the philippines
4:24
and that's me of course okay so once again
4:29
um our advocacy group rolled up our sleeves early on and
4:35
we actually uh tried to reach as many negotiators in the philippines as we can
4:40
from all sectors and from all professions okay so
4:47
let me talk about five issues today and the first issue is are filipinos entrepreneurial
4:55
is it a yes or a no we have to answer this immediately and i'm gonna say
5:01
no okay according to former social economic planning secretary selito habito
5:06
filipinos tend to be geared towards finding a job rather than creating jobs
5:11
so very fun of working for their wealth rather than creating the mechanism to earn
wealth
5:20
so what's the difference to the philippine statistics authority
5:26
2.2 million filipinos work overseas from april to september 2019 alone so if you
5:32
think about this huge number of filipinos who are adding up to those who are
5:38
already there we are really losing a lot of our countrymen for greener pastures
5:44
and thought but come to think of it what do they bring into the philippines when they go
abroad sometimes they just send the
5:50
money and then the people here will just be using it for day-to-day expenses
5:56
think about what happens if those 2.2 million filipinos
6:02
would usually put up their own business establishments so we're gonna have an
6:07
average of two million new businesses every year easier said than done
6:12
but here's issue number two that begins with understanding what is
6:19
the entrepreneurial mind is it a whim or a disposition what do you mean by
6:25
whim is it just a sudden desire whimsical means it is brought about your
6:30
sudden desire or change of mind you get it at your you do it at your whim whenever you
want it
6:38
which a lot of people are actually doing at the moment they just do things because they
just want to do it they just want to try it or is it a
6:46
disposition when you say a disposition it's your own nature it includes the
6:51
inherent qualities of the mind and character in other words it's a mindset
6:57
i would say that the entrepreneurial mind is a disposition
7:04
okay and according to canon abakken the entrepreneurial mind is a set of dispositions
that enables a person to
7:12
develop entrepreneurial traits that will help start and grow a business venture
7:18
so when we talk of the entrepreneurial mind as a mindset it is something that
7:25
is consistent with our internal motivation
7:33
so these things that originate from within our internal
7:39
motivation shapes our beliefs and actions and then eventually we do things
7:45
because not because we just like it but we do things because we are committed to
7:52
making it work to better the product or service that we provide and then
7:58
eventually hope that it will change not just our lives
8:03
but also the lives of the people that use it that's the essence of the
8:08
entrepreneurial mind so we can therefore say that eventually these sets of actions
become our habits
8:16
and if you talk about habits eventually they form part of who we are
8:23
so what are the five c's of the entrepreneurial mind let's talk about
8:29
this one by one the first is what we call curiosity it is the very core of the
8:34
entrepreneurial mind it provides us a sense of vision when you say vision it is our plan
for the future
8:42
the second c will be your creativity creativity breeds innovation
8:48
and eventually when you talk about innovation we talk about transforming things around
us we better what we have
8:55
day in and day out the third c is your competence now
9:01
this leads to passion it's not enough that you know what you're good at it's not enough
that you know you can perform
9:08
the skills you have to have that strong feeling called passion to do what you do
9:13
best and then we have commitment that is
9:18
actually contributory to determination and perseverance when you say determination
9:26
that is our willpower the firmness of purpose that we have and perseverance of
9:32
course is the persistence despite difficulty bring these two together and wow
9:37
what a person you have so when you have determination and perseverance
9:42
you would definitely be able to stand up after a fall and remember when you are
9:48
an entrepreneur you would definitely experience a lot of failures like i did
9:54
so it's not as if i just dreamt about it and then the next day i'm making money
10:00
no you have to work for it and if you want to be successful you have to double your
10:06
failure rate and look at failure not as opposite of success but as part of success so if
you want to
10:14
keep on succeeding you have to keep on failing okay but that idea doesn't seem
10:20
to sit well with a lot of students because they would always want the highest grades but
at the end of it all
10:26
it's not the grades the numerical value that defines an entrepreneur it is
10:32
the 50 compassion that provides the breathing ground for
10:37
motivation if we want to better ourselves every day and then eventually better our lives
we
10:44
also have to look at what's happening around us look at our fellow men and create
opportunities that will better
10:53
their lives too so that when everything becomes better
10:58
then we continuously are motivated to do what we do best
11:04
okay so the first c let's expand on the first thing curiosity
11:10
that leads to vision well joel barker says vision without action is a dream action without
vision
11:16
is simply passing the time action with vision is making a positive difference and who is
joel barker where he was the
11:22
first to popularize the concept of paradigm shift in the corporate world which means
what
11:29
does it mean to have paradigm shift paradigm shift is the major change in how people
think and do things so if you
11:38
are capable of influencing people around you to take a look at what you are
11:44
proposing to better a service or a product then you are espousing paradigm
11:50
shift and you can always call yourself a visionary okay so let's move on
11:57
curiosity is at the core of the entrepreneurial mind what does this mean
12:02
now remember this um success reminder choose curiosity over judgment how do
12:08
you do that when you are judgmental you end up blaming people
12:13
for your misfortune you tend to point your fingers to other people
12:19
okay that is being judgmental but when you choose curiosity
12:25
you always ask yourself after you fail how could you have done it differently
12:30
what would have changed the result that is the mark of a visionary person
12:37
so when we say curiosity it means our desire to know our desire to learn
12:44
so how do we nurture curiosity well you have the three rules the abcs of
12:50
developing curiosity a means ask questions and seek answers
12:55
remember the very popular vicky bellow who is one among the 13 of us we started
13:00
the gonigoso core group with uh then presidential consultant for
13:06
entrepreneurship joey concepcion during the time of president roya page
13:11
we start she started asking herself what can she do because she's having pimples
13:16
as a teenager and she wanted to get rid of the pimples so she tried to find
13:22
answers to her personal problem and then after she found the right
13:29
treatments and medications she dreamt of one day doing the same to her fellow men
13:37
that's why her mantra is making the filipino
13:42
beautiful one at a time so how can you beautify
13:47
the filipinos of course you have to understand their core and being a filipino and
13:53
having the same set of problems of course you know how to go about it so what she did
after is that she explored
13:59
the world so she traveled the world she just did not have that dream
14:05
what she did is she took action so she traveled the world to find solutions to
14:11
common skin problems and she advanced her training and education and eventually
14:17
she came up with her own fellow medical group that has given birth to bello essentials
14:25
and a lot of beauty products and treatments thereafter and as they say
14:31
cliche as it may seem the rest is history well you can be the next
14:36
vicky bellow if you have pimples we can always think of something that
14:42
irritates us as an opportunity to create business you just have to be curious
14:49
about it you just have to search for the solutions and you can do that by
14:54
exploring okay the second c is creativity
15:00
which breeds innovation a creative minds gives birth to innovation but the
15:06
question is do we really have an ounce of creativity
15:11
within us or does it really have to be nurtured okay
15:16
so always remember when we do things repeatedly eventually
15:22
it becomes a habit so we can make creativity a habit now how this is a
15:27
success reminder all habits follow a specific path and according to samples and really
15:34
there is what we call the cycle of habit that begins with a trigger okay
15:41
and then you perform actions based on the trigger
15:47
that eventually becomes the habit and then after that you attain your reward which
could be a
15:54
goal which could be your dream thing a car a bug or whatever
16:00
so whenever you have something that could either
16:06
irritate you or that that gives you an idea
16:11
or it actually triggers your curiosity go for it search for the action that's
16:21
creativity begins okay another study found that 98 percent
16:28
of five-year-old children are at the creative genius level and then five years later only 30
of the same children
16:35
remained in the same level another five years later only twelve percent and when the
test was administered was convinced
16:42
to adults only two percent were at the creative genius level what does this mean guys
creativity declines with age
16:51
a lot of people would say but it is surprising that your most
16:56
creative stage is actually your kindergarten stage where you are utilizing about 95 to 98
17:06
of your creative energy when you reach school age that goes down
17:11
to 50 to 70 high school and university level 30 to 50 and then eventually for adults
17:18
less than 20 maybe because as you grow older you are having more
17:26
opportunities to deal with more concerns a lot of concerns and that would usually
17:34
cause you to lose some of those creative side creative character because you are
17:41
focused on a lot of tasks at hand okay next the issue with philippine
17:47
businesses is that filipino businesses are small in scale and may be lacking in originality
and innovativeness
17:53
reflecting the copycat syndrome that's according to the global entrepreneurship monitor
so according to the philippines
17:59
statistics authority of the total 957 620
18:04
000 business enterprises operating in the country 952
18:10
969 or 99.51 are micro small medium enterprises and 4
18:18
651 or 0.49 percent and even one percent are large enterprises so majority palana
18:26
nigosa filipinas
18:40
crisis maybe because this is the kind of mentality that we have
18:47
we lack the motivation or division
18:53
to make something small and grow it into something bigger
18:58
okay now how do we foster that kind of attitude
19:04
we have the abcs of developing creativity the first one is always seek to develop new
ideas and improve
19:10
processes now if you have something that you have observed in the hospital like for
example
19:16
well the oxygen um diffuser that you can improve on you
19:23
could also improve on for example if you have cars you are riding the ambulance and
you notice that the seat belt may be
19:30
improved for elderly or for younger children those are all
19:36
potential business ideas and of course
19:42
be flexible and resourceful being resourceful means you utilize what
19:49
you have at the moment a lot of people would say
19:58
is the list of the concern of the entrepreneur the primary phone of the
20:03
entrepreneur would be yourself your skill and it's happening now around us
20:09
look at youtube a lot of those who are in youtube have given birth to a lot of products
20:16
and you get to see them now raking the fruits of their sacrifices more on that
20:22
as we go along and then of course you always have to imagine
20:29
it is limitless you can create things in your mind for
20:36
as far back as how you get to see your future the most important thing is you stay
motivated
20:44
well you can go and do some serendipity walk activity okay around your
20:50
neighborhood talk to your friends talk to your family they these are all source
20:55
of inspiration that could eventually make you a more imaginative
21:02
individual so remember james ingram and his song whatever we
21:09
imagine i'd like to share this with you guys because the lyrics speaks well of
21:14
what an entrepreneurial mind is and let me share this with you so that
21:21
at least you have an idea what i am talking about okay so i'd like you to listen to this
song
21:29
and then understand the lyrics carefully because the lyrics represents
21:35
what an entrepreneurial mindset should think about when opportunities
21:43
come along to do business so i'd like to share this with you guys join me if you know the
song once again
21:49
it's by james ingram entitled whatever we imagine
21:58
so here we go here's once again the song
22:22
i can live [Music]
22:45
imagine [Music]
22:52
why [Music]
23:03
cause where can we run when you see this
23:18
[Music]
23:25
and i imagined [Music]
23:41
and just
23:47
[Music] oh [Music]
24:11
[Music] whatever we
24:17
[Music] and i imagined
24:23
[Music]
24:38
again
24:46
[Music] me
24:52
[Music]
24:59
[Music]
25:10
[Music] every foreign
25:30
[Music]
25:36
don't be afraid halfway the most important lessons
25:43
[Music]
25:50
[Music]
26:00
so that's actually the lesson that i would like you to remember regarding that song and
the lyrics speaks well
26:07
about what an entrepreneur should do whenever business opportunities
26:14
would come your way always meet halfway and after that create products
26:20
from the mind whatever we imagine okay
26:32
so i just hope you like that little thing that we did we did a little singing and pardon more
my voice
26:40
okay so the third c is actually competence
26:45
and this actually is made possible when we have more than
26:52
just competence but when we also have a burning passion in our heart so there is no
greatness
26:59
without passion to be great whether it's the aspiration of an athlete or an
27:05
artist a scientist a parent or a business person that's according to anthony robbins sorry
for that so always
27:13
remember the milo jingle great things start from small beginnings
27:18
okay i remember one thing about this some ladies would say was that my
27:24
honeymoon theme song on our first night well that's another thing to talk about let's talk
about that now the success
27:30
reminder is always start small
27:38
problem
27:49
that's the success reminder and always tell yourself never to procrastinate the
27:56
time is now it's now or never start small
28:02
now that's the mantra of the entrepreneurial mind now when i started
28:08
as an entrepreneur this is actually one thing i'd like to
28:13
share with you guys i got it i got it from my memory boxes in our
28:19
storage room if you would notice even the spelling of entrepreneurship is misspelled but
28:27
young forum it's a lecture forum on entrepreneurship but it's done at the national center
for mental health in the
28:33
city of mandaluyong maybe you are thinking
28:40
your guess is as good as mine so these are the kinds of engagements that i
28:48
used to accept when i was still honing my ability to be a motivational speaker so if you
28:54
would notice once again the entrepreneurship spelling still misspelled because the
guest is bigger and that was
29:00
in 1999 see guys sabine anila if you want to eventually develop the skill you
29:08
have to spend at least 10 000 hours to master your craft
29:15
that's um the secret formula of great entrepreneurs the outlayers
29:22
okay or the outliers rather now these are the people who are
29:28
um considered elite when it comes to their business sense like bill gates okay and of
course we have our own
29:35
tycoons in taipan's we have henry c we have luchotan okay
29:41
so there are three things again that we need to remember if you want to develop
29:46
competence or your skill the first one is actively pursue interest and desires
29:52
so what will make you happy it should be the first thing that you should be doing and
trying out as a
29:58
business venture because like for example don't just imitate because it's the in
30:04
thing one thing i'd like to share with you is a lesson i learned from carte mar because i
was
30:10
looking at the different aquariums and the different fishes and then i saw one and i said
30:18
and then and then i
30:30
so how is it different from the freshwater fishes sabina sir
31:15
you know the best lessons i've learned as an entrepreneur i learned it from common
people
31:30
you know so pursue something that you really like
31:35
you went to a beauty parlor and then you said
31:44
because you'll end up eventually okay um
31:49
letting it go because you just did it at at your whim gumbaga capriccio
31:55
van guster of the moment okay in a joke and then eventually hindi naman union
32:02
competence small that's why a lot of questions would arise when somebody who
doesn't know how to do haircut puts up a
32:08
barbershop or a parlor somebody who's not a dentist put puts up a dental
32:13
cleaning so it has to emanate from what you can do lagging
32:26
functions so that you know when your employees are
32:32
doing their job or not so be aware of unique intelligences this
32:39
is one thing i'd like to share with you guys you have to realize what kind of intelligences
you have and from there
32:48
think about what career or enterprise can you manage
32:54
and then cultivate leadership skills well the best way to cultivate your leadership skills
33:00
is actually to lead a group no matter how small the group is based
33:10
you cannot be a good leader if you are not a good follower okay
33:15
so let's talk about howard gardner's theory of multiple intelligences
33:21
when it comes to entrepreneurship so let's talk about intelligences potential enterprises
or career and role model so
33:28
for example okay you are word smart so your intelligence
33:33
is in the area of linguistics magalinkang magsalita
33:39
it's because take note class it's the it's one of the first things
33:44
that we develop we learn how to talk and in fact as early as our nine to ten months of
33:52
age we already utter our first word atamiya thing first word mama
33:58
and we utter it specifically or non specifically we are the written and specifically we call
our mother mama and
34:05
we also refer to our father mama young father
34:13
sorry okay now uh those who are word smart people are
34:20
those who enjoy reading they like to solve word puzzles okay or word games
34:27
and they like to tell and listen to stories so if they are going to
34:33
choose a career or create an enterprise they could have language training
34:39
centers or publications like what i did okay
34:45
i remember my teacher commenting on my report card okay always pay attention
34:50
and lessen unnecessary talking but hey i made a living out of my
34:56
passion for talking and talking and motivating people okay and i would like to share with
you
35:04
the uh a potential role model if you are familiar with um
35:09
the the story diary which was popularized on wattpad whatpad
35:16
incidental entrepreneur okay of course
35:28
ionyan okay when she was 16 after high school
35:34
pumunta silent italy and of course because napunda shatsa foreign so nexus serves as
the internet
35:41
until she came across a site called candy magazine at dunsa online platform
35:48
naom and what would be the problem
35:53
of a hit story and eventually making movie penny james read
36:00
okay moving james okay
36:06
of course but there's a
36:12
striking resemblance of nadine to denis
36:18
so after graduation from high school in italy
36:25
so it was out of boredom you see even boredom could actually give you um
36:31
potential business ideas
36:56
the first few sentences really hit it well with the readers and
37:02
she was surprised to note undone in views
37:07
and so she wrote the story as it progressed and eventually when she discovered the
37:14
online uh forum now what pad she transferred
37:20
and as they say the rest is history it gathered 12 million views
37:26
and it prompted movie producers to look for her okay
37:33
okay very young then eventually in a transformed into a book
37:39
story from internet the king movie and in 2013 the movie made 120
37:48
million in the box office what was her dream what was danny's
37:53
dream then he then actually just dreamt of writing a book before she turns 30 but
38:00
she never realized that she would be able to do it at 16
38:06
and it became a hit and became a movie when she was already she was just 19.
38:12
you can just imagine if you have a gift
38:17
you have to nurture it show it to the world have the confidence
38:23
to present yourself and your work and eventually you would be surprised of how
38:29
the rewards would come your way so that's if you are word smart okay but
38:36
what about if your intelligence is in the area of logical mathematical meaning your
number
38:44
smart these are the people who like to categorize things they love to create strategy
when they're playing
38:51
games and they always ask how things are working okay so these are the people who
are
38:58
very very inquisitive so you could actually be a computer software developer okay or you
can create your
39:04
computer software development firm like bill gates okay well um bill gates doesn't have
an
39:11
inspiring rugs to reach his story but he's a very practical person if you would notice
when he came to manila
39:17
he he was placed at the penthouse of vanilla hotel but he requested to be
39:23
on the lower floor because she he wanted to you know get to the city as fast as he can
he could he
39:30
was given a lot of um minou for the food that he would want but at the end of the day he
just asked
39:38
for mcdonald's he was a simple person
39:47
characteristics
40:07
so remember when you become successful success should not change you because in
40:13
the first place you became successful because of those traits that you had so
40:19
actually um bill gates started developing um softwares at the age of 15
40:26
and with the first software that he developed he made like 20 000 together with his
friend but have you
40:32
ever wondered why why is the name of his company microsoft
40:38
inspiration maybe
40:44
only the wife knows and maybe it could be the reason why they divorced
40:50
microsoft okay i don't want to be naughty okay so remember um
40:57
bill gates dropped out from harvard okay
41:02
and this just goes to show that the school is not the only place to learn
41:09
but when he was asked if he had any regrets in life what he said was that he
41:15
regretted being too focused on academics when he was in college that he forgot to
41:21
socialize we are social beings life is about
41:27
establishing relationships at the end of it all when everything is lost we can
41:33
only cling to our relationships with family friends and loved ones so in the
41:38
guise of working for your dream for chasing what your entrepreneurial
41:44
mind is telling you to chase don't forget to
41:49
interact with your fellow men they can be teachers and learners too
41:55
like you like bill gates that's his regret okay now what about if your area of
42:02
intelligence would be on spatial or even by spatial you buy your my lecture plan
42:08
no halo halo uni ice cream spatial means orientation as to space
42:15
intelligence to space in terms of what you see in your environment like your picture
smile
42:21
so what would be your potential career now these people are
42:27
the people who would usually like to draw they dream they dream a lot and eventually
they enjoy um doing jigsaw
42:35
puzzles so a good um career for them would be well something that they can make use
of
42:41
their passion for drawing so they can they can paint
42:46
or they can venture into photography or interior design or even movie production
42:52
now while disney you have visited disney wow well i was
42:57
able to visit this because i promised it as a gift to my niece and my nephews because
43:03
um i remember my sister telling me you know you really have to uh help me assess your
needs and your nephews
43:09
because they seem to be uh not so focused on their studies and i said you know
43:17
my niece and my nephews are good it's such that since everything is provided to them
you're not giving them the room
43:26
to discover their creative side because
43:33
okay so why one time i brought them to the toy store and then
43:42
sabine is and i said okay go ahead
43:47
so he picked two and i said
43:52
124 and i said i want to
43:59
stimulate their mind okay not just buy them because we can afford it so i want them to
make use of
44:07
their gifts their intelligences so i said okay
44:12
120 80 billion [Music]
44:31
[Music] addition subtraction multiplication and
44:38
division so that doesn't leave them anything more to imagine
44:43
okay so here if your intelligence is on the area of
44:50
spatial intelligence so which simply means you could be like walt disney what
44:55
disney started as a cartoonist and then he was the first to create uh mickey
45:01
mouse which is the first cartoon character in technicolor and with the sound then
eventually he produced the
45:06
movies and eventually turned the location sets into a part so now we have
45:12
disney world all over the planet so it simply means that
45:17
nothing is impossible while disney started as a cartoonist and eventually
45:23
that passion grew and improved over the years and before he knew it
45:29
before he died he was able to transform what he used to draw
45:35
into something that people can enjoy as a thin part what a marvelous
45:40
accomplishment okay what about if your area of intelligence would be
45:46
in terms of nature your nature smart your naturalist so you could be
45:53
good at creating guardians so you could have a landscape
45:59
architecture firm okay where this is so brampton in the states
46:04
because your front lawn should be something that you should plant on it and you have
to cut a grass otherwise
46:10
you'll you'll be fine if you don't do that okay so if you don't have the time to do that you
can hire a landscaper
46:17
okay who will take care of your lawn or if you're fond of animals
46:23
you could come up with a pet shop so turn your passion into something or turn
46:28
your habit into something entrepreneurial well a good role model for this would be
46:35
uh cesar milan the dog behavior expert well he had a show it's entitled dog
46:40
whisperer okay so here's a person who loves pets okay and these are also the
46:46
people sometimes we bring in bugs we bring in police up
46:51
okay that just tells us that
46:56
may naturally stand in c so we have to nurture that and then
47:03
sometimes dirty and no let them be because that's where we get to see that they might
be
47:10
loving things around them and they might be having an idea of how to recycle
47:15
those things okay so if you have a child who knows the names of plants the names
47:20
of animals and who would love to visit sewers would want to go hiking just let
47:25
them be okay especially if uh they don't have any spaces but they love to read
47:30
about these things let them be they could be gifted
47:37
naturalist or they are nature smart like cesar milan okay now
47:44
pay particular attention to the fact that uh cesar milan okay
47:49
did not finish anything he's actually mexican and he illegally entered the
47:55
united states through the u.s mexican border okay so he belongs a very poor
48:00
family he didn't finish school so most of his childhood was spent
48:05
with animals because he grew up in a farm and in fact the first job that he had in
48:12
the u.s was to groom dogs so he learned how to interact with dogs early on he didn't
48:20
have any formal training but now he hosted a tv show
48:25
had a lot of dvds he has a lot of clinics he has a lot of dog products okay
48:32
and that's telling us that it's not education
48:38
that really brings success to a person education is just a tool
48:44
what you do with what you have in your mind is what spells the difference
48:54
become again in the future what is important is you have to find
49:02
that gift something that you know god gave you and transform it
49:09
into something that could help other people don't worry about the returns it will
49:15
come after what and he is sipping more
49:22
the universe will reward you if what you are doing is for the
49:27
betterment of the human race now what about if you are music smart you have music
49:35
intelligence well you could be a singer a songwriter you can own a recording studio like
a nurse maybe a lot of you
49:42
know that culidesma is not just a nursing graduate but if you would um visit wikipedia
you
49:51
would find out it's written there that okay
49:56
she finished the course nursing at koleo san agustin bacolod and successfully
50:03
passed the philippine nursing board exam and became a registered nurse so her
50:10
screen name should have been cool desma rn she popularized the zombie tuba okay
50:17
and then okay
50:23
okay so she's an opm icon and she's a nurse but you see
50:29
she was already a band member while still being a student and at the end of it all tina
posing nursing maybe
50:38
okay
50:52
i
50:59
[Laughter] okay don't take that seriously no offense man what i'm trying to say is
51:06
that even if we have a professional degree sometimes
51:11
it is not what we studied that would bring us to success but it is
51:17
what we really want to do so if you have that inclination like to collect cds to
51:24
create songs to play instruments or if you sing well
51:29
if you love to be singing every sunday if you love singing every sunday in in a church
51:35
choir or a gathering then nurture it so you have
51:40
what we call as music intelligence okay way to go so what about
51:48
if your intelligence is on the category of bodily or kinesthetic intelligence you are body
smart okay now these are
51:55
the people who excel in sport they love to run they love to create crafts they love
52:01
role playing they love acting okay acting and role-playing
52:06
involves movements facial expression so you could be an actor or a gym owner a
fitness
52:13
trainer or a zumba coach like lobin rick okay who put who actually is
52:20
the owner of rip fitness okay so he is initially a personal trainer
52:26
then eventually ventured into a nursing career so now he's a personal trainer an owner
and a registered nurse
52:33
okay he owns a chain of fitness studios in the us
52:39
way to go so that at least before you begin
52:45
and after your workout well you are safe in the hands of a
52:52
nurse who can take your and monitor your vital signs
52:59
makeup artist vital signs
53:12
smoking why you are cutting the fingernails straight across and why are you filing
53:19
the edges of the nails way to go okay anyway
53:25
what what about the filipino version of the zumba instructor look at this news
53:30
result nurse called zumba session for coffee 19 patients in quarantine facility and this is
a nurse acting as a
53:37
zumba instructor for patients in montalban rizal so
53:42
we are being um brought to to the edge of our creativity
53:48
on how to deal with challenging situations like the pandemic and sometimes
53:57
for our patients makes a lot of difference and this is what this nurse is doing and
eventually
54:18
now this is nurse barbara mckinley she looks so young but
54:23
she's already 65 years old why because for her zumba relieves stress
54:29
and she has opened her zumba clinic so if you are 65 years old you're retiring do
something that you want to
54:36
do and maybe if you love dancing also come up with a zumba dance studio
54:42
okay now what about if your intelligence is on interpersonal relationships you're
54:48
people smart in tagalog
55:09
these are the people who possess that kind of intelligence
55:15
and acknowledge the intelligence
55:49
and they enjoy socializing okay but most of our parents would usually
55:55
tell us
56:17
okay now what enterprise or career okay should you consider well consider putting up a
56:24
pr firm like it could be a motivational speaker like a boy school administrator because
you
56:31
go along well with people now a role model could be donna cardillo who is a
56:37
nurse and look at her website the inspiration nurse she's a keynote
56:42
speaker humorist okay you want to be a humorist but please um your humor should
56:48
be something that borders on on the intellectual side that stimulates the
56:54
senses not the toilet you more time because you know although that will really bring a
lot of laughter to people
57:01
and sometimes they don't think about what you're talking about they just want to laugh
okay so it could be a humorous you can
57:07
consider that you could be a master motivator and an entertainer maybe you can sing
and dance in between that would
57:13
be great okay so and number eight okay is known as your
57:19
intra-personal intelligence these are the people who are self-smart okay
57:26
who are the people who are self-smart those who can decide for themselves they are
self-directed and they are confident
57:33
with what they're doing they have goals and they want to achieve their goals they work
well
57:39
on their own even without anybody assisting them and they are able to express their
feelings freely
57:46
well an enterprise or career that they can pursue would be as counselor or an
entrepreneur like in gypsia of mang
57:53
now remember india is one of those um who came into our gonigoshu group okay
58:00
after our group so there was initially the third you know was meeting together and then
at one point in time
58:20
foreign
58:32
so that was a sponsored flight so we were in the business class and he was waiting
59:02
nato and then why would you pay three times
59:17
so would that spell a difference sponsored young flight i would also go
59:22
and get an economy class ticket i am not bothered with that indeed
59:33
remember wealth is not how much you make
59:38
wealth is what remains after spending how much you made okay
1:00:00
okay and that's the eighth okay intelligence
1:00:12
intelligence okay intelligence that is existential intelligence
1:00:20
this is um the intelligence that would enable you to think critically to solve
1:00:27
problems and this is the intelligence that will
1:00:32
make you unafraid to challenge the norm and this is one of the traits that
1:00:38
entrepreneurs should have existential intelligence
1:00:46
i think that they develop existential intelligence so in gardner's theory
1:00:55
as you know time goes by and that is your existential
1:01:01
intelligence okay now what is the fourth c
1:01:08
commitment okay and commitment is strengthened by your determination and
1:01:14
perseverance always remember the entrepreneurial mind is a fertile ground for bright
ideas but it is
1:01:21
self-discipline and commitment that will see to it that an idea
1:01:27
grows okay a lot of you may not know
1:01:51
that's actually colonel harlan sanders okay um shiong
1:01:58
original nanak formulate and recipe nan kentucky fried chicken so on a story on
1:02:06
the answer
1:02:13
grabby in terms of uh disappointment disappointments and frustrations
1:02:18
first and foremost um
1:02:24
and then on seven years old
1:02:31
and when he was 16 he faked his age and joined the military
1:02:36
um when he was 17 he he got discharged a man honorably okay kayalan
1:02:43
he tried to do other things like he worked in the railway eventually pursued law and
failed and then at age 40
1:02:51
he started selling chicken dishes well this initially um
1:02:56
gave him a lot of revenues and then the pathway
1:03:03
at age 44. so he bought a motel
1:03:10
and now he's operating a motel business plus the fried chicken restaurant but
1:03:16
both got burned so what happened
1:03:22
okay well he rebuilt it again but after rebuilding it worldwide to bro okay so what
happened
1:03:30
to his business he needed to close it and then after the war
1:03:36
he tried to franchise his recipe of kentucky fried chicken and it was
1:03:43
rejected one thousand and nine times okay
1:03:51
so what happened well he was left with nothing
1:03:56
you
1:04:09
what he did was to supply existing restaurants
1:04:14
brand of fried chicken and he called it kentucky fried chicken
1:04:19
then eventually when it became popular people were looking for it restaurants
1:04:25
kentucky fried chicken until all restaurants that sell it
1:04:32
we sell kentucky fried chicken and then eventually those restaurants adopted them in
kentucky fried chicken
1:04:38
luma and when he died at the age of 90
1:04:46
there were 6 000 kentucky fried chicken stores
1:04:52
located in 48 countries that's at the time of his death and in the last
1:04:58
inventory in 2013 there are about 18 000 kentucky fried chicken stores in 118
1:05:08
countries that started with a recipe that was
1:05:13
rejected 1009 times
1:05:18
but mr sanders never gave up
1:05:25
okay so he never gave up he actually believed that what he has is a gold mine it's
1:05:33
just a matter of time as they are saying rome
1:05:39
wasn't built in a day give a great idea
1:05:45
time to mature in an incubator stage or an incubation period
1:05:51
within an incubation period and watch
1:05:56
as magic grows whatever it is that you do
1:06:02
as an entrepreneur it requires time
1:06:07
yeah me colonel harland sanders
1:06:12
okay so whether you think you can or you think you can't you're right that's according to
henry ford
1:06:19
okay therefore the success reminder that you have to remember based on the kentucky
fried chicken success story
1:06:26
believe that it's possible so always say i believe i believe i can fly okay
1:06:35
i believe i can touch the sky okay so let's move on and then tell yourself i
1:06:41
can and when you say that don't focus on anything else but the goal
1:06:48
it's like playing tennis without minding the scores but looking at the ball and
1:06:53
making sure that the tennis ball would bring in the points as you hit it every
1:07:00
time you s you see an opportunity say to yourself i can so hindi pueding parang
1:07:09
cuento young silas is
1:07:17
salesman a nobody wears slippers here we don't have a market
1:07:22
sabine money salesman b nobody wears slippers here we can teach them how to wear
it we can dominate the
1:07:29
market it's just a matter of the right mindset
1:07:34
so what is important when you're nurturing your entrepreneurial mind is you have to
believe that it is
1:07:43
possible okay so think about this
1:07:48
ordinary talent mr sanders have an ordinary talent what was it cooking chicken
1:07:54
but he had extraordinary perseverance
1:08:06
but before he died he was able to attain his goal why because he persevered
1:08:15
okay so if we talk about now the abcs of developing commitment so
1:08:21
that you can become a determined and a persevering entrepreneur always do your
1:08:27
best and work hard there's no substitute for hard work anyone who would say i'm
1:08:33
an entrepreneur i
1:08:41
can't do rather so be in charge welcome responsibility and change look at what
1:08:46
happened to kentucky fried chicken
1:08:55
okay you have to be in charge well i got an entrepreneurial tip from from a
1:09:00
sister of mine by telling me sabine ray lahat
1:09:10
you don't entrust it to just your lawyers you don't interest it just to your staff you have to
understand you have to know
1:09:18
from a to z of the papers that you are signing and then the most important
1:09:24
thing of all be a lifelong learner and that's what we do at go nikola show we always have
go negotiators the last time
1:09:31
i attended was when the speaker was jeff hoffman who is jeff hoffman you may not
know him
1:09:43
support system for booking.comhotel.com and then agoda
1:09:58
and creates again because he loves creating you have to learn to let go when you are an
entrepreneur
1:10:07
no don't be greedy no to learn how to let go because with the art of letting go
1:10:15
you learn how to start from scratch and you are actually feeling the the fertile grounds
1:10:22
of your creative imagination you do not keep everything forever
1:10:29
my personal philosophy no one know when to exit i told myself after i turned 35
1:10:38
well i'll go semi-retirement in what i'm doing now achieve mobana delena
1:10:43
because my mom got sick and passed away so i have um to attend to the things that
she left
1:10:50
behind but yeah i was able to do that and the most important thing that we
1:10:57
need to remember about being an entrepreneur is you have
1:11:03
to know when to enter and you have to know when to exit
1:11:08
do not overstay if you want to make a business out of yourself remember our
1:11:14
basic premise in fundamentals of nursing man's energy is not limitless look at
1:11:20
what happened to whitney houston look at what happened to michael jackson they
overstayed making business out of
1:11:27
themselves and their talent so what happened again agree enforcement and drugs until
1:11:34
they died because that's not the design of the universe the universe allows us to grow
but we
1:11:42
have to learn when to let go so the fifth scene is compassion
1:11:49
which is actually triggered by motivation according to dalai lama if
1:11:55
you want others to be happy practice compassion if you want to be happy practice
compassion whether you want
1:12:01
others to be happy or you want to be happy you have to learn how to become a
1:12:06
compassionate person and this is inherent among us nurses so to do that
1:12:12
we need to nourish our mind our body and our soul nobody talks about the soul
anymore we are very busy tending to the
1:12:20
brands of whatever we want to wear now the pandemic is teaching us to go back to the
basics nobody would be wearing
1:12:26
the shoes anymore because you wouldn't see what what one is wearing while we're
doing zoom meeting or microsoft meeting
1:12:34
okay and then okay nobody wears the expensive belts anymore nobody will see your
bugs anymore because the in thing
1:12:41
now is the aswang the aswang look is so
1:12:49
things like this happen so what matters the most is you know how to cope and the
success
1:12:56
reminder for this specific okay c
1:13:01
okay of the entrepreneurial mind is that surround yourself with people who can
1:13:07
encourage and uplift you do not stick it out with people who have negative things to
share with you
1:13:14
remember we become the five people who spend the most time with this is what
1:13:20
they call what social anthropologists would say okay
1:13:26
that um this is something that we adapt
1:13:33
okay when we adapt the behavior of the
1:13:39
person who whom we are always with okay so pattern social
1:13:57
that's why we have this saying that says tell me who your friends are and i will tell you
who you are
1:14:03
because of this fact or social heredity okay
1:14:13
okay i remember senator baum aquino when we start when he was just starting out not
not a
1:14:20
senator before okay he would always hang out with our group in gonigoso because
1:14:26
he would want to become entrepreneurial until he put up happiness for the people
1:14:32
okay so the people you hang out with eventually
1:14:38
will influence your entrepreneurial mind so always tell yourself i can and once
1:14:45
again focus on the goal so next important thing that you have to remember would be
1:14:51
the abcs of developing compassion the first one always think about how you can
improve people's lives so when you
1:14:59
think of a product it should not be because you want to make money first and foremost
it has to be
1:15:04
altruistic you would want to improve your life and the lives of people around
1:15:09
you not necessarily the world starts
1:15:24
and then believe that the filipino panelists i've always been telling you a while back and
most
1:15:29
important thing care about others so that ends the part one of our
1:15:37
discussion see you on the next part
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PART 2

welcome once again my dear fellow

0:04
learners
0:05
here's your member mentor ray and this
0:08
is part two of our topic the go negotia
0:11
formula the entrepreneurial
0:13
mind
0:22
so
0:23
let's move on to
0:25
the next important issue that we're
0:28
going to talk about and this is issue
0:30
number three do we consider who we are
0:33
as a nurse as being aligned with the
0:35
entrepreneurial mind what do you think
0:37
is it a yes or a no i would say it's a
0:40
yes
0:41
why
0:43
well if we're going to take a look at
0:45
the characteristics of the empowered
0:46
nurse
0:47
we usually use our mind
0:50
to come up with our clinical judgment
0:53
what we can do
0:54
to
0:56
make the patient more comfortable
1:00
and then
1:01
we need to enhance our skills
1:03
we need to be competent which is one of
1:05
the five c's
1:07
we need to be compassionate
1:09
another of the five c's but
1:12
okay
1:13
which was not explicitly mentioned in
1:16
the five c's of the entrepreneurial mind
1:20
is the core of our being as nurses
1:23
our caring role represented by the heart
1:27
that's why the nurse
1:29
is best described with the 3h we have
1:32
the head
1:33
we think the hands the skills and the
1:37
heart
1:40
which is the very core of our profession
1:44
the caring
1:46
and compassionate heart
1:49
that does the job
1:51
okay
1:53
and ensures that the job is done
1:57
with utmost concern
2:00
for the patient's well-being
2:03
so if we need to answer the question do
2:06
we do we consider who we are as nurses
2:08
as aligned with the entrepreneurial mind
2:11
take a look at the characteristics of
2:13
the empowered nurse
2:15
okay hindi come on he said the answer is
2:18
a resounding yes
2:20
that's why a lot of nurses have ventured
2:23
into entrepreneurship like carrie barton
2:26
salinas and gail barton hay
2:28
who
2:30
innovated
2:32
okay
2:33
the
2:34
iv lines by color coding it such that
2:36
when patients have multiple iv lines
2:39
it's not going to be difficult for the
2:40
nurse to monitor
2:42
so this is now earning them royalties
2:44
okay
2:45
or you can also agmalit and you can do
2:48
ah
2:50
a business like this face bull
2:52
[Laughter]
2:55
very nice recall
2:59
subject and nutrition so put it into
3:01
practice facebook or
3:08
i usually get pictures of the things i
3:09
get to see around okay
3:11
uh star box for example maraming papa
3:14
papa pizza
3:16
but it you know it attracts attention
3:19
but what's important is that it delivers
3:22
the message okay
3:24
except the face bull because the face as
3:26
a new fish the one again facebook
3:30
and then star box it talks about hair so
3:32
this is a salon okay
3:34
so
3:36
let's take a look at the world health
3:38
organization key facts and figure things
3:41
out do we really need to nurture our
3:44
entrepreneurial mind to become
3:46
entrepreneurs after nursing or should we
3:49
use our expertise
3:52
our skills our knowledge to take care of
3:54
patients let's take a look at the facts
3:58
what is the who telling us nurses and
4:01
midwives account for nearly
4:04
50 of the global health workforce
4:08
there is a global shortage of health
4:10
workers in particular nurses and
4:11
midwives who represent more than 50
4:14
of the current shortage in health
4:16
workers they need us as nurses
4:18
so we can do
4:20
entrepreneurship on the sides okay the
4:23
largest needs-based shortages of nurses
4:25
and midwives are in southeast asia and
4:27
africa that's very true we're feeling it
4:29
now for all countries to reach
4:31
sustainable development goal number
4:32
three on health and well-being the world
4:34
health organization estimates that the
4:36
world will need an additional
4:39
9 million nurses and midwives by the
4:42
year 2030.
4:51
i remember
4:54
from the titan
5:23
headed for worst nursing shortage okay
5:27
currently they have a shortage of 690
5:30
000 and
5:31
the country will need meaning the u.s 4
5:34
million
5:35
579
5:37
275 nurses in total by 2022 to keep up
5:42
with the required demand you can just
5:46
imagine no matter how many nurses we
5:50
produce in our country we cannot supply
5:54
okay the u.s
5:56
to
5:57
diminish these demands
6:01
okay
6:02
so the question now is
6:04
should we stay as nurses
6:06
or should we be entrepreneurs that's one
6:10
thing you have to consider i will not
6:11
dictate upon you on what you want
6:14
because in the same manner when i
6:17
decided that i will become an
6:19
entrepreneur instead of a bedside nurse
6:21
my parents respected the idea okay
6:25
so in the philippines nurses are the
6:28
most numerous health workers
6:30
and the philippines is the largest
6:31
source of registered nurses working
6:33
overseas
6:34
however there will be minimal graduates
6:37
from 2020 to 2022 due to the k-12
6:40
adjustments that's very true so it
6:42
confounds the shortage so the impact of
6:44
the pandemic on the professional
6:46
licensure exam schedule which
6:48
is usually being postponed or
6:50
rescheduled
6:52
and then the slow implementation of
6:53
salary adjustments and release of
6:55
benefits of nurses is
6:58
becoming at the motivation for a lot of
7:00
nurses to continue in bedside nursing
7:03
and of course parental fear of the
7:05
coveted exposure of students in the
7:07
clinical area so a lot of schools
7:09
they're allowing their students to go on
7:11
leave of absence because the parents
7:13
would not permit their students to have
7:16
hospital clinical duty and of course
7:19
small distribution of nurses non-nursing
7:21
opportunities versus hospitals like a
7:23
lot of nurses are in bpos okay so the
7:26
question is this are we ready to keep up
7:29
with the global demand for our
7:30
professional services
7:32
i don't think so but are we ready to
7:34
abandon being bedside nurses and become
7:36
entrepreneurs i also don't think so
7:39
so let us take a look at some factors
7:42
that could be worth considering
7:44
as of 2019 one in every three humans on
7:47
planet earth will be a gen zero so what
7:50
does that mean a growing number of gen
7:52
zeros are interested in forging career
7:54
paths in sports music and fashion
7:57
they're not interested in becoming a
7:59
nurse contingency or learning customer
8:02
nurse therefore
8:03
nursing
8:05
the entry-level hospital practice is no
8:07
longer among the top 20 highest-paid
8:08
professions that's according to the u.s
8:11
bureau of labor statistics as of
8:12
september 2020 but my friends there now
8:14
are telling me
8:16
that
8:17
nurses who are being asked to return to
8:21
their jobs are being paid as much as 150
8:24
dollars to 250 dollars
8:27
per hour
8:29
that's how bad the shortage is
8:32
it's no longer per day
8:33
per hour
8:35
and some would have a minimum
8:37
salary of one thousand dollars per day
8:41
because they need nurses
8:49
i'm showing you both sides
8:51
of the coin so that you can make an
8:53
informed decision i'm not going to
8:56
lure you to become an entrepreneur when
8:59
the times would call that you should be
9:02
a bedside nurse okay
9:05
okay i would just give you the idea the
9:07
facts the beauty of both sides and it's
9:10
up to you to make the decision
9:12
so issue number four would be
9:15
how to nurture the entrepreneurial mind
9:18
is it through role modeling or earning a
9:20
degree remember
9:23
mr millian the dog whisperer didn't have
9:26
a degree but he became famous earned a
9:28
lot had a tv show had a lot of products
9:33
what we need
9:35
is not a degree
9:38
what we need
9:39
is a mentor or a role model who can show
9:44
us the way that's why we're doing this
9:47
course now this has should this should
9:50
have been
9:51
part of the curriculum for the longest
9:53
time but i'm so glad it's now part of
9:55
the curriculum so allow me to be a
9:57
little more personal at this point in
9:58
time so let let me share with you how
10:01
did i start as an entrepreneur well
10:05
initially
10:07
i was a jollibee crew member while i was
10:11
still doing my nursing course at usd
10:14
this is me
10:17
110 pounds no no
10:20
maybe 70 pounds ago that was how badou
10:23
the uniform of jollibee is orange and
10:25
brown brown plants and orange so
10:28
after my classes at usa i would usually
10:30
go to jollibee holiday plaza and then uh
10:34
i would do my things a grill station or
10:37
a sign and i will have to be i usually
10:40
i'm the closing crew
10:42
for
10:44
the
10:46
grill station there was one thing that
10:49
that's very funny that happened to me
10:51
that i'll i'll tell you in a while okay
10:54
this is in relation to my salary look
10:55
say something is
10:57
928.93 pesos because my salary per hour
11:01
is 11.25 but non first hour because
11:06
just
11:07
say sir where because i wanted to become
11:10
a member of the elite 60 seconds club so
11:12
gusta
11:22
[Music]
12:30
and of course i admitted my mistakes so
12:32
what happened was
12:54
but of course i was determined
12:57
because i needed a job
13:04
on
13:06
so i i tried my very very best to learn
13:10
from my mistakes and to better what i do
13:13
on a day-to-day basis then eventually
13:17
okay
13:19
that's how i am 670 pounds ago okay
13:24
then eventually
13:31
that's me okay
13:43
we both represented the philippines in
13:45
the world entrepreneurs summit in
13:47
singapore in 2005
13:50
and i was inducted as the first nurse
13:53
entrepreneur to become a member of the
13:55
prestigious arts and young entrepreneur
13:58
of the year academy okay and that's
14:02
because
14:03
i once was awarded as entrepreneur fear
14:06
of course whoever whatever i am whoever
14:09
i am now i owe it to my mom
14:26
my mom raised me to be entrepreneurial
14:38
[Laughter]
14:40
but that's how my mother
15:01
the things i practice as an entrepreneur
15:06
i experienced it first time
15:08
because my mom
15:10
wanted me to see it
15:13
that's how she raised me i don't have an
15:16
mba
15:17
i don't have a master's in
15:19
entrepreneurship my siblings all had
15:21
master's degree either in business ad or
15:24
entrepreneurship but whenever we have
15:26
discussions they would say how did you
15:28
get that idea
15:30
and i would take a look at my mom
15:37
so what's my secret
15:39
my secret is my one two three formula so
15:42
what's a one two three formula what is
15:44
one
15:45
one idea
15:46
when i started to uh
15:49
uh with a business
15:51
it's an idea along with you mashadu
16:35
that
16:36
and then after a while i received a
16:38
letter i was so excited and then what
16:41
was in the letter well the manuscript
16:44
was very gorgeously rejected
16:48
they expected happened but
16:51
but
16:52
okay
16:53
it wasn't rejected based on content it
16:54
was rejected because the format was just
16:57
too ahead of its time
16:59
ramishan games
17:01
crossword puzzle okay
17:03
so
17:04
eventually
17:07
i persevered allah kfc i went to another
17:11
publisher presented my book this time i
17:14
wrote next rn in a flash for
17:16
um barnes and noble's usa okay at
17:20
johnson bartlett usa rather barnes and
17:23
nobles was the bookstore okay and then
17:26
what i did is that ayoko
17:28
competes among grades so i would want to
17:31
create something that would just
17:32
complement the existing books but making
17:35
sure that it is different
17:40
each page has a flowchart
17:42
the functional concept then applied to
17:45
an answer the functional concepts method
17:48
is my innovation in spite of actually my
17:50
advanced studies in the states i now
17:53
have my own functional concepts method
17:56
of lecturing and it has been adapted in
17:59
25 countries worldwide
18:02
okay you see how
18:04
one talent
18:06
of writing
18:08
can influence people to get to see
18:15
so the reason why this book was
18:17
successful is that it never competed
18:18
with what is in there
18:20
so when this was tagged as customers
18:23
favorite in barnes and nobles
18:26
and actually it was one of my students
18:28
in the states who called me up and told
18:29
me sorry i saw your book this was it was
18:32
the customer's favorite and so happy
18:35
okay
18:36
and
18:38
eventually
18:40
must be
18:41
sent me a letter if i can write a book
18:44
for them and so i wrote the abc of
18:46
passing the employees rn
18:48
okay
18:50
and then see lippincott vengeance
18:51
saunders kasamana and young abandoned
19:10
okay so eventually they asked me to
19:12
write most essential concepts for the
19:14
philippine nurse licensure exam
19:16
that became the first filipino authored
19:19
book that was
19:21
awarded as winner in the international
19:24
book awards in 2010
19:36
you'll never know
19:38
where your imagination and your dreams
19:41
will take you
19:43
just
19:44
believe
19:45
that's the most important thing so what
19:47
is number two
19:49
one one idea i mean
20:07
and this is the the picture that would
20:10
always remind me to be grounded
20:13
the picture that would always tell me
20:15
where i'm from
20:18
because it tells me
20:20
how far
20:21
i have been
20:23
and i wouldn't be here i wouldn't be
20:25
speaking before you today inspiring you
20:28
to do the same had it not been for the
20:31
dynamic duo in my life of course my
20:33
mother
20:34
and my father
20:37
and of course
20:59
is
21:05
but
21:06
i never gave up i was determined
21:10
i persevered
21:12
i believed
21:14
my time will come
21:16
and so
21:18
if we're going to take a look at what's
21:20
important
21:23
that would enable us to shape our
21:26
entrepreneurial mind
21:28
i can identify three important things
21:31
life experiences
21:34
like the dog whisperer
21:36
role model like bill gates and the rest
21:39
and of course the environment that
21:41
allowed me to grow
21:43
these three main factors
21:45
nurtures the entrepreneurial mind
21:49
and allow me class
21:51
to share with you
21:54
why do we need our parents to guide us
21:59
as we aspire to become entrepreneurs i
22:01
will not answer that but i'll share with
22:03
you an anecdote
22:10
now
23:02
so in essence
23:06
the row side of our entrepreneurial mind
23:11
should be properly molded
23:13
by the guidance of our parents
23:17
so
23:18
the fifth
23:20
issue that i'm going to ask you class
23:23
are entrepreneurs born or made
23:27
well those who say that entrepreneurs
23:29
are born
23:32
that's actually not
23:34
realistic
23:36
or
23:37
it's a silly idea
23:39
because how come we are having
23:41
entrepreneurship as part of our nursing
23:43
course
23:45
so it simply means that it can be
23:48
learned
23:49
and therefore i can say
23:52
entrepreneurs are made
23:55
so if you want to find out if you are an
23:59
entrepreneur
24:00
i'm asking you to take
24:02
a short online quiz to find out go to
24:05
the site
24:07
type it
24:08
and take the quiz and find out for
24:11
yourself if you could be an entrepreneur
24:16
always remember to be an entrepreneur
24:19
everything begins with an idea and the
24:22
idea
24:23
could
24:24
emanate from the three eyes
24:27
which are well information what are the
24:30
market needs what are the trends okay
24:33
what is going on on the internet okay
24:37
what are the business that are on
24:39
uptrend what are the needs of the people
24:43
second would be what irritates you
24:45
irritation could also be a source of
24:47
business idea like for example
24:49
you get irritated doing such melanin cr
24:51
you need a deodorizer you need uh you
24:54
get irritated by the small of the under
24:57
arm so you need a deodorant
25:02
you you get irritated by your spouse
25:06
okay that's why you go to night clubs
25:09
dear house see any any irritation could
25:12
result to an entrepreneurial idea
25:15
or you could also turn your hobbies
25:19
your passion into business ventures
25:22
okay
25:23
so
25:26
let me leave you
25:27
with
25:29
a horoscope of mine a couple of years
25:32
back but this has always inspired me
25:36
it says
25:38
make sure you love
25:40
for the work make sure you have love for
25:43
the work you are doing if your work is
25:46
not inspired by a true love from within
25:50
then quit your job
25:52
and find something else
25:55
follow your passion
25:56
follow your heart
25:58
and the money and opportunities
26:00
will follow
26:02
naturally
26:04
amen to that
26:07
so this is your mentor mentor ray saying
26:09
thank you
26:11
for
26:11
sticking out with our discussion today
26:14
and i'll meet you soon for
26:16
our other topics
26:18
once again thank you
26:31
you
English (auto-generated)

PART 3 BUSINESS PLANS

good day fellow learners once again this is your member ray joining you for another
teaching learning session and
1:14
this time on the topic about business plan so
1:20
today we'll be talking about the 12 parts of business plans and our objectives include
the following at the
1:26
end of the session the learners and that's you shall identify the parts of the business
1:32
plan identify the components of each part of a business plan
1:37
and then write an initial draft of a business plan that reflects all the parts of the
business plan that we've
1:43
discussed so let's begin with the 12 parts you have the cover page table of contents
1:50
executive summary business description market analysis and strategy marketing
1:56
and sales plan competitive analysis management and organization description
2:01
products and services description operating plan financial projection and
2:06
needs and last but not the least exhibits and appendices which could be your favorite
part but remember
2:14
this that you would not be able to put anything there until you're able to get through the
2:23
meeting parts of your business plan so let's begin with the first one it's
2:29
the cover page now take note that in the cover page it should include contact
information for yourself and your
2:34
partners this is very important because once the investor who reads your business plan
becomes interested
2:42
in what you are proposing it's going to be easy for them to locate for your contact
details then include your logo
2:48
if you have one one or two sentence uh that reflects a descriptive summary or
2:53
it could just be a a specific mission statement or
2:59
if your page if you have uh like a single liner
3:06
description of what you intend to do so in essence you are coming up with
3:13
your own slogan and then use an elegant font and design to
3:20
present to your would-be investor that what you have in mind is
3:25
a business that is in essence it reflects that your
3:32
business plan is reflective of a well thought out idea
3:38
with well thought out and well researched components okay
3:44
so and then our checklist for our cover page would
3:49
definitely include these three contact information logo and brief description so here's an
example
3:55
so you have the name of the company and then you have your slogan okay great
4:00
ideas today for your future i don't think this is a logo but it could be a very attractive
picture that's very
4:05
representative of what they intend to do and of course the name of the proponent and
the contact details it's as simple
4:12
as that you can be creative there's no mandated format for the cover
4:18
page what matters the most is you have the most essential parts that we've just
4:25
outlined okay now the second part of a business plan would be the table of contents
now
4:32
make sure that you have demarcations for the main part specific parts and accurate
page numbers
4:38
um there's no clear-cut rule as to whether you are supposed to come up with the use of
roman numerals for
4:45
the main parts or capital letters for as long as you are consistent throughout the text
and one of those things that a
4:52
lot of those who write their business plans would not be so keen about is ensuring that
the page
5:00
numbers the pagination are specific to what is found in the table of contents specifically
if you've
5:07
added figures or tables or pictures in between your text it could have moved
5:13
the labels for the part so it's very very important that you first have to print it and check
it against the table of
5:21
contents that you have prepared and the printed
5:27
page that bears the page number in that case you won't be able to
5:33
miss out on the most important point the piece is off really okay a business plan
5:38
reader okay so the table of contents checklist includes your main parts specific parts
and accurate page in hr
5:46
now part three would be the executive summary now this is the single most important
5:54
part of your business plan so what is included in the executive summary let me
6:01
give you just one word that would give you an accurate description of what your
executive summary should be it contains
6:08
it's one word highlights okay so in a nutshell it could be just one to
6:14
two pages to start strong you could actually cite a recent statistics showing the
6:22
trend in the industry which you would want to engage in for example if you would want
to engage in the yaya
6:29
training program you could say that since after the pandemic jobs have
6:34
increased and most of those housewives who are now working to help
6:40
out in the family expenses would need to hire aya so in in one community
6:46
90 of the households employ at least one yaya so you could actually cite those
6:54
statistics and then it's also very very important to relate how those statistics
7:00
would eventually affect the opportunity that you see okay
7:07
so that could be your strongest selling point for your enterprise okay so
7:15
remember this your summary should express the future success of the business so
what i would
7:24
want to see if i'm going to read your executive summary would be
7:41
your projections must be based on realistic
7:47
data do not fantasize and overshoot your targets what is important is
7:55
it breeds excitement your executive summary should breed excitement
8:01
the excitement of the reader it should initially make them salivate about the
8:08
opportunity that you found okay so the content checklist for the executive
8:14
summary you have to have a brief description of the company include the structure and
the scale of operations
8:20
meaning should it be regional should it be national should it be global okay
8:26
always remember start small okay and then present the goals and objectives what you
hope to achieve okay
8:34
and then description of products and services include your competitive advantage what
makes your product or
8:40
your service unique and of course identify the characteristics of your
8:46
target market okay and then include expenses and sources of
8:51
revenue on the area that presents the cost then include the traditional and
8:57
innovative strategies which you plan to employ for your marketing and last but not the
least would be the financial
9:04
projections include your formula for financial success so all of this will
9:09
just be stated in general terms you don't have to be very very specific in your executive
summary because the
9:15
specific details should be contained in the body of your business plan so in a
9:22
nutshell your business plan should only be one to two pages okay so you have to
9:29
be realistic to not overshoot to not fantasize so remember this write your
9:35
executive summary last so if since it is the single most important
9:41
part of the business plan you have to make sure that it contains the necessary
9:47
highlights that will make your reader come to you and say let's put up the
9:52
business right here right now yeah yeah okay okay so let's move on
9:59
and then part four would be business description here the keyword is
10:06
comprehensive which means you have to make sure that your details are complete
10:13
and it includes the goals the objectives the legal structure of the business would it be
sole proprietorship would it
10:19
be partnership or would it be a corporation so you have to specify and for you to be
10:26
able to do that you have to go through the site of the department of trading industry and
the securities and exchange
10:32
commission or better yet consult a lawyer on what is best for what you
10:38
intend to come up with and then the star of what you need to discuss and
10:46
describe in a comprehensive way would be your products or services that is the star
10:53
of this part and then of course definitely who will use it so you have to know your
11:00
target customers your base your market make sure that when you identify your
11:07
market it is capable of
11:12
supporting what your business operations would entail okay so include details on
11:19
the industry trends specifically uh major competitors now there's no need
11:26
for you to compare your business with that of your competitors you don't need to
denigrate them what matters the most
11:32
is to highlight how different you are in terms of managing the situation that
11:39
they're currently doing so what are the innovative aspects of what you intend to
11:45
do okay once again you talk about yourself your product okay
11:51
less of your competitor and you can just even say that in the market these are
11:57
the existing competitions that we have all of them are utilizing western
12:02
products we intend to introduce locally produced products which are more aligned with
the taste of the filipinos and that
12:09
would be your selling point okay so include your team's experience what sets you apart
but
12:16
it's not nice the mind that if you will include your team you would show that you have
pirated them from
12:22
different parts no no no that's other way to do it so if you introduce your team you don't
12:28
have to be giving the details that they graduated with latin owners and they have no no
no no no that's not what is
12:34
needed when you include your team make sure you have a brief description of why that
12:41
person is in your team what are the things that that person could do to propel the
business to where
12:50
it should be okay and then specify if it is an existing business this is what i'm
12:55
trying to say you'd in in our first video what we said is you don't
13:02
come up with the plan before the business it is better when your business is running for
six to twelve months
13:07
before you come up with a plan okay and then include also whether
13:13
this is a business plan for a new business or an expansion of an existing business and
then of course include its
13:21
location now you have to be very very specific with the location it has to be aligned with
the image of the business
13:28
of course you don't want to put your restaurant near a funeral business okay what would
they
13:37
think about yung le mangle i remember in one of my travels up north
13:44
before we were looking for somewhere to sleep during the night and then we came up
uh we we came to a
13:52
pension house you can just imagine of course you don't
13:59
also want to have like your parlor beside the poneraria so who would be your customers
okay
14:07
okay so and then explain why the business will be successful so the first
14:13
person who should believe that you will be successful should be you because if you
cannot spell out how your
14:19
business will become successful you won't be able to encourage your investors to
believe in what you plan to
14:24
do so let's make let's make things easy okay so if you're writing your
14:32
um this part of your business plan the first thing that you have to ask
14:38
yourself is so pay particular attention describe the
14:44
market in the industry that you want to penetrate cite statistics okay
14:50
and then say so what so if 95 of the households now are employing
14:57
yayas so what so identify the opportunity and
15:04
check it out if it aligns with your expertise remember as we said a while back your
business could either be
15:10
market driven or technology driven technology driven means it emanates from
15:15
the expertise that you possess okay and then after that
15:20
now what so what will you do with the opportunity so you have to have a goal and you
have
15:26
to have a plan so it begins with what so what now what okay
15:32
so part five of the business plan would be your market analysis and strategy
15:38
remember the purpose is to research and identify your company's target market
15:43
and where to find them so ask this question is this about location looking
15:48
for a business versus a business looking for a location some people would do like this
16:07
so what happens now so indi dominate market sometimes naman okay you
16:14
have a business that's looking for a location say for example you want to uh
16:21
put up a bookstore but definitely you don't want to put up a bookstore du unsa
16:28
area where you don't have schools and universities okay so you have to look
16:34
for the location to bring in that business okay so ask yourself is this
16:39
about location looking for a business or is it about a business looking for a
16:44
location then claro muneon you consider where is your market that is the
16:51
priority consideration okay you need to provide evidence that there is a market
16:59
okay so which means this is the part in which you have to identify how much is the
industry which
17:06
you plan to penetrate growing are they growing five percent a year 10 a year 50
17:12
a year but even if it's growing 100 every year
17:18
remember if you are a start-up business okay do not buy more than what you could
17:25
chew okay remember uh there was this story about two
17:30
restaurants in the united states so one restaurant was really selling its
17:36
food very very fast bye so what they did they spied on that
17:43
restaurant the negnana
17:56
offices nearby and if i can just get 10 percent of what they are catering to
18:09
okay no let's not go for the percent let's go for the sixty percent
18:17
restaurants
18:32
seems to be a bright idea so what happened okay on the day that they opened the
restaurant the competitors
18:39
the first one the original restaurant restaurant a let's call it restaurant a
18:45
close the restaurant an aggregation and signage that says
18:50
with due respect to our new neighbor who is offering an alternative set of foods
18:58
we would want you to try them go and try since um
19:04
50 to 60 percent no 50 to 60 percent regular daily
19:09
customer no original restaurant so what happened since nakshara's original restaurant
19:18
okay restaurant and so what happened
19:30
okay so after the opening day the second day they didn't have any
19:35
customer
19:51
the competition that would eventually set you apart okay don't look at it as
19:56
something that would kill you and don't ever try to kill your competitor you won't be able
to do that okay you're
20:02
gonna kill yourself thinking of nasty strategies if you do that so what is important is
20:08
you believe in your product and you know what makes you unique and
20:13
then in your market analysis specify what your market needs are the scalability whether
it's global national
20:21
regional and of course the return of investment and then pay particular attention to the
demographics the social
20:28
media presence and the strategies for flexibility okay so remember this the
20:33
end result of your market analysis should be why your business will be able
20:39
to grab a piece of the pie and make sure you have the right
20:44
strategy when you target that percentage of customers that you
20:50
want to get so if you want to make your life a little
20:55
more easy this is actually a template for market analysis you can
21:01
go to this site and then use the template for your business plan okay remember this you
can
21:08
use charts grabs or simple text in this section share news that supports your
21:13
projection okay part six of your business plan should be the
21:19
marketing and sales plan so consider how will you market your products and services
so
21:25
for the first month what do you intend to do are you going to hit the market big right
away it's supposed to be by
21:32
super bonga with even your um tv interview
21:38
try media interview with press conference would you go that way or would you rather
just be a little more
21:45
conservative okay try to feel through the market
21:50
now you also would need to answer this how would you establish market presence
21:55
would you need an endorser would you be the endorser yourself who would be the face
of your business those are the
22:02
things that you have to consider now are you going to enter the market utilizing pricing
as your main strategy meaning
22:09
you're going to lower down your price initially are you going to offer it for free
22:14
and then what would be your sales strategies who would speak and sell your product
okay and then how will your
22:22
product stand out versus the competition what's your unique selling point these are the
22:28
questions that you need to focus on for your marketing and sales plan
22:34
and if you want to make your life once again easier check this out that's asana.com you
have templates for your
22:42
sales plan okay so let's move on so marketing and sales plan checklist
22:49
includes your pricing sales strategies and sales tracking advertising and profile building
networking and
22:55
promotion partnerships and other innovative strategies okay
23:00
business plan part number seven your competitive analysis so the first thing they have
to consider is
23:07
so what would be the market segment that you will be targeting is it the low end or the
high end if it is going to be the
23:12
low end
23:19
they can only pay as much kung hai
23:30
so if you are a nurse and you want to put up your salon what would be the selling point
23:46
whether the patient is diabetic or not and whether why you have to cut the fingernail
straight across and file it
23:52
on the edges so which means you are giving health education in terms of food
23:57
care among diabetic patients and then you could use that eventually as your tagline
okay the health is alone for
24:04
people who wants to maintain health okay so you can selling point more okay
24:11
my vital sign station okay and then identify your competitors
24:17
strengths and weaknesses so turn their weaknesses into your strength okay
24:24
so crowded so 20 right away so maybe you would want to have a spa
24:32
type of ambiance and just limit your customer to two at a time of course they
24:39
will pay higher okay and with all the mood lights and the music okay
24:44
then identify potential issues in the market sometimes even government regulation
could actually affect your
24:51
market pandemic such as this could affect your market flight of professionals could
affect
24:57
your market then explain how you will improve upon existing products or services so
what
25:03
are the things that you intend to do to keep on innovating your products so
25:09
all of these should be considered when you are coming up with your competitive
analysis so remember this class if there
25:16
are other companies that are already doing what you plan to do it simply means there's
a demand for what you want
25:21
to do but okay and um
25:39
and sometimes it would just need a little
25:48
that's focused on the health needs of people with health issues that's your selling point
so you have to
25:55
be able to differentiate yourself from the crowd early on generic
26:04
what sets you apart okay so that's one thing that you have to remember so part
26:10
eight of a business plan would be management and organizational description so first
you have to
26:15
identify your company
26:26
so i always just say i remember my one two three formula for success and the answer i
started with one idea okay
26:36
that's so when you are a new company you would
26:42
need a lot of advice so this is where your friends could come in if you have a lawyer
friend could give you insights
26:49
about the legalities of the structure of the business that you want if you have an
accountant friend and consultant for
26:55
taxation and uh okay and then you you may want also to
27:02
identify um what sets of professionals would you need
27:08
to run your company
27:14
okay we're doing marketing
27:33
and then on week ends okay i do my masters and then i one time i told my mom
27:45
um
28:20
at the same time but my mom was right all along so
28:26
she was never wrong and when she told me that there will come a time
28:31
that what you need will just come to you not because
28:37
not because they need you but the universe is rewarding you for a job well
29:00
from single proprietorship going on corporation but make sure class when you turn it
into a corporation
29:10
okay
29:39
should have listened to her okay next use charts and include pictures if you
29:44
want specifically pictures of um those who will be
29:49
occupying your management position okay so if you want to create one check this
29:55
app out so this would help you create an organizational chart okay it's by asana
30:02
and then part nine would be the part of a business plan that would deal with the
products and services that you need to
30:08
describe so consider um asking yourself this how would the
30:14
products be created and how would it be introduced to the markets
30:20
so for example
30:35
magano on the gaso you have to do the cost thing okay so
30:40
remember this a product or service should match the characteristics
30:45
preference that's the most important and buying power of your target markets
31:02
that's very okay so part number 10 would be the operating
31:08
plan so consider where will be your operations
31:16
clubhouse
31:33
okay so initially how many employees do you need would you have partner companies
like
31:38
for example will you call red cross or demonstrate cpr if so magano and gasto smoking
31:46
all of those things must be spelled out in the operating plan so you have to be very very
specific okay so for you
31:56
here's another site in which you can create your own business processes you can try it
for free okay
32:03
so part 11 of the business plan would be your financial projection in need so
32:11
what will be your source of revenue for the next three years because definitely when a
business is new
32:18
hindi payang ki kita agad at might be break even that's a joke or a misconception so
32:26
when i started their first business zero
32:32
income for the first 18 months but a christmas bonus
32:40
okay and my mom was diagnosed with cancer and she has to undergo chemotherapy
32:46
and it was a late stage thing and at papa arala i was doing my masters don't have any
32:52
money anymore but because one of those
32:58
who had a very good experience with the program i created the academic program i
created
33:03
really liked it so much young parents
33:22
and
33:46
so i gave um the parents of that participant a call and they said
33:55
and we know for a fact that you did more than what we expected from you to implement
that academic program and so
34:02
as as our gratitude guess about blowout
34:08
[Music]
34:18
that situation keeps coming back
34:24
it keeps rewinding over and over my mind such that whenever we have debates in the
company
34:32
about raising fees or what that situation almost always
34:38
would guide me with my decision and i would always ask myself what is the reason why
i'm here bakit ba
34:44
ako nandito so
35:00
so you have to be innovative about your sources of revenue and then make sure that
you are clear with your financial
35:07
statements you know the cash flow and then specify and justify how funds
35:14
will be spent like for example 11 percent non-capital
35:20
equipment 11 percent 11 percent
35:25
specified okay so as a beginner i'm not expecting
35:34
to prove to us
35:41
3000
35:51
okay so you have to be very realistic about your estimates remember your financial plan
which means the
35:58
projection and the needs demonstrates how your business will become profitable
36:10
okay so always be conservative don't fantasize
36:28
until it's done and you are paid you don't have the funds yet okay
36:34
so always remember start small be simple and remember
36:39
wealth is not about how much you make wealth is defined by what remains of how
36:46
much you make okay
36:52
okay next so uh for your financial plan okay
36:58
our checklist would include break even analysis so months back will come a break
37:06
projected balance sheet then projected income statement and then projected cash flow
okay so once again
37:15
check this out okay you can plan your cash flow and you can do your false card uh
forecasting okay using this site okay
37:25
and then part 12 of the business plan would be exhibits and appendices this could be
your favorite why you place
37:32
here the resume of company management make sure that you just have one brief
resume for each one page or even half a
37:38
page for each the permits if you already have it the marketing research findings
37:44
proposed marketing materials some sample of your flyers a picture of
38:15
a business without a sign is
38:23
materials legal documents pictures of the prada okay and of course financial
documents like
38:30
for example projections
38:36
it has to be there okay for easy referencing once again para dumali
38:42
mo my advice log on to this site to make your life a little more easy okay so you
38:49
have a pre free business plan all you have to do is to get the template that you need for
example it took us a
38:55
professional services click on mail alabaster template you just have to fill
39:00
it up so i hope with this presentation i made your life a little more easy
39:09
a young tedious process of creating a business plan
39:25
but as a beginner we're not asking the sun and the moon and the stars from you we're
just asking you to go through
39:32
the process so that you know what to do just in case you will venture into
39:38
a business okay so with that thank you so much this is your memory saying
39:44
maraming Salamat Po it was a short engagement with all of you and i look
39:49
forward to meeting you in person when the time comes and i just hope i can inspire you
to become
39:56
entrepreneurs with a heart okay thank you
40:14
you

BUSINESS MODELS

good day fellow learners once again i'm your mentor mentor ray gapuz joining you
1:08
for the part two on our discussion of the concept the business plan the house advice of
it so
1:14
for this lesson and teaching and learning engagement we'll be talking about one
important
1:21
aspect of planning for a business and this needs to be spelled out even before
1:28
you decide to write your business plan and what better way to do it than
1:33
of course learn from life lessons okay so let's learn from my life lesson today
1:40
and how do we apply whatever learnings i have in terms of identifying
1:46
the business model that would fit something that's popping out of your mind
1:53
what business model would fit the idea that you have in terms of the kind
2:00
of business that you would want to come up with okay so today we'll be talking about
2:06
understanding your business model and the first thing that you would ask yourself
probably would be
2:11
what is business what is a business model what does it mean now in my dealings with a
lot of
2:17
entrepreneurs and businessmen and colleagues in the nursing profession whenever we
come up with a proposed
2:24
business the first thing that your listeners would ask you would
2:30
be so how will your business make money
2:37
the answer to that question is your definition of your business model so in
2:44
essence when we talk about business model okay it is how
2:50
your business would earn money so our objectives for this session would be at
2:56
the end of the session the learner shall define what a business model is identify at least
three types of specific
3:01
business models and discuss the four general types of business models that
3:06
are applicable in an e-learning business environment as well as
3:13
in real life face-to-face market okay
3:19
so let's begin so i've been telling you a while back the answer to the question
3:24
that is posed by friends acquaintances investors
3:30
okay or friends in business clubs would be your definition of your business model
3:39
so in essence a business model is an outline of how a company will earn a revenue now
3:46
there's no specific business model that's appropriate for all types of businesses in other
words it's not
3:53
something that's standard you can always innovate and create and improve on existing
business models
3:58
so there's an endless list when it comes to
4:04
the types of business models that we have but what is important is you have
4:09
to be able to address the key points that you need to address when you decide to come
up with a
4:17
business model okay so a business model should therefore answer the following
questions okay
4:24
one what product or service will the company sell what are you selling i remember when
my sister was asked
4:33
what is her company all about and she answered her guru by saying this is in a
4:38
business called i'm selling dreams how can you sell dreams
4:45
because during that time there were a lot of nurses who would want to venture into a
career in the us and that's what
4:52
she's selling okay facilitating the entry of nurses to the us so in essence
4:58
you're saying what is your company selling or selling dreams okay but
5:04
making sure that the dreams that we sell should turn into reality and then how
5:09
will it market the product or services so how will your company market it will you go
5:15
try media which was the fad back then you'll have ads on the tv the radio the
5:20
newspapers it's a whole lot different ball game now when
5:26
we talk of social media and what is important right now is when you are going to market
your
5:32
product or service you have to consider three things
5:40
which means you have to be present in the consciousness of your target customers so
5:47
the first thing that you have to do therefore is to target the mind make them aware that
you exist and after that
5:57
forget the mind and then target the heart how could you make your prada
6:03
target the heart some would do this by putting on a little um
6:08
corporate social responsibility on what they do like for example the advertisement of
nest cafe now for
6:14
every cup of coffee you drink okay it means a return of investment for the
6:21
coffee farmers okay so that's an advocacy anchored
6:27
marketing okay so first the mind make them aware that you exist second the heart and
the
6:35
third of course you cannot run a business without money so you also need to target a
wallet but the wallet of
6:41
your customers to be should be the last of your targets
6:50
so what we want to do now is to first make your customers become aware that
6:56
you exist then win their hearts and when you are able to win their mind in their
7:02
heart then they would voluntarily spend for your product of course that
7:09
doesn't occur overnight
7:14
overnight and young quality control room wasn't made in a day okay the third
7:21
question is what kind of expenses will it incur definitely when you're running a business
you are incurring expenses
7:29
every day so if your business is not bringing in revenues on a daily basis the next
question that you would ask
7:36
yourself is how would you be able to copy the expenses okay and that's a very important
7:42
question that you need to address and then last but not the least if you would notice this
is last on our list
7:50
and what is it how will your business make the
7:57
profit so in essence when you create a business okay it's very very important
8:03
that you think of profit not first but
8:09
as your reward for doing a great job if you keep on doing what you are doing
8:15
eventually the universe will reward you a thousand folds in a manner that you did not
8:23
imagine it to be [Music]
8:42
but you see when you do things consistently and the quality is there there's no
8:50
stopping you but for me as a young entrepreneur i started so young i was six years old
when i started
8:56
being an entrepreneur i know how to exit you have to know when to say
9:03
i'm okay i'm contented enough is enough i'll give chance to the
9:09
others to make their own niche in this world and i won't stop no entrepreneurs
9:15
from making it um making it big and becoming successful
9:20
just like the way i did that's the essence of entrepreneurship okay
9:26
so now let's have an example to concretize
9:32
what we've talked about so for example several years back okay i
9:38
mentored a friend to open a pass a load business okay so what product or service will
the
9:44
company sell it's mobile phone load second and mobile phone lots i wanna
9:53
why because he wasn't hands on so any one sakanilan coffee shop in indoor saka
10:00
pate du isman in the coffee shop and the kapatid endorse it to the cashier and then the
cashier did not bother to check
10:07
on it so what happened was everything got lost including the phones
10:12
because they're allowing it they have a mini phone station on a coffee shop so
10:18
um again one great lesson that my mom told me is
10:28
it cannot be the first time palang de nellygate so eventually your stuff would know more
10:34
than you do and that doesn't make sense when you start an enterprise it should
10:39
be you who should be considered as your business consultant you have to be the
10:44
expert of what you are doing okay so how will the company market the product or
10:50
service so what they did before is just post on social media that they have a pass a load
and then friends from
10:56
facebook would usually then they have word of smell initially it's it did well and then
what
11:03
kind of expenses will it incur now this is where the problem is because the cost of
mobile unit and the
11:09
initial load it was obtained through a loan so what happened was when they
11:16
saw that there are a lot of income they never thought about saving
11:21
for the payment of the loan so what happened was it gained interest then eventually
11:28
they lost the mobile phone they lost the load they lost the business so you have to be
financially literate when you open
11:36
your business and then how did it make a profit of course the profit was through the
11:43
um customer request for a loan okay so when you are able to address all of
11:51
these four questions then you have what we term as
11:57
your business model okay so now let me talk about the 10 key terms
12:04
that you need to remember when you are aspiring to come up with your own business
models the first one
12:10
is your value proposition what makes your product attractive to customers so
12:15
what makes it unique and why should your customers patronize it
12:21
several years ago when i was younger i was too keen on starting ayaya training
12:28
program or akasamba high training program it all started when nahu looked
12:35
memyaya
12:51
they don't teach how to be ayaya even to high school or college graduates
12:56
and that then um i had a bright idea that came out of my mind
13:02
yaya training program i was then a young nurse okay
13:08
so puerto de montgomery graduate from my knowledge kind of pediatrics procedures
fundamentals in
13:15
nursing maternity nursing my knowledge can care of the elderly so public
13:21
module mo and then do it in your first in your subdivision probably it could be
13:27
free and then you have a more premium program so it's called freemium from
13:32
free to premium okay so at least there's something unique in that business
13:42
for example how to take vital signs
13:53
and eventually they'll send their yaya to you so you can educate them okay and then um
target market the specific group
13:59
of customers who are interested in your product so uh if you are in a variant subdivision
14:04
with very young families training program retirement village you
14:11
know come up with something else competitive advantage what's the unique feature of
your product that cannot be
14:17
easily copied by competitors that should be you because you are a nurse and therefore
14:22
you have the passion to do this that in itself would set you apart then cost structure
fixed and variable expenses
14:28
and how will it affect your pricing well the good thing about creating a business out of
your skills is that initially you
14:35
can offer the price at a lower cost and then you have to have your metrics how will you
measure your company's success
14:41
for on a monthly basis participants mode
14:47
yaya training program okay six the resources meaning physical do you need a whole
financial do you need um
14:55
and intellectual assets of your company that's going to be you and then problem in
solution your target customers pain
15:01
points and how you will address it like for example what happened to my sister
15:07
okay so that's a pain point therefore how will you solve it so come up with
15:12
the training program and then the revenue model so this would actually be the
framework
15:18
that identifies viable income sources to pursue like for example initially you're training la
muna then you can come up
15:24
with your yaya emergency kit okay or silent or something then you sell it
15:31
to them then you come up with your uh yaya emergency manual
15:37
on the accident samyari sabahi in the first eight treatment you can come up with the
manual like that okay
15:42
and then this would also form your revenue streams which means the multiple ways
that the company can generate income
15:49
from so which means income from the training medical income
15:56
and then uh identify your profit margin the amount your revenue exceeds your cost so
16:02
if you initially spent like 10 000 pesos and then uh the total gross income was
16:08
25 000 so merongua kinitan 15 000 then elasmo
16:15
okay which is approximately uh from single proprietorship yes compute
16:21
at approximately 30. 30 to 35 percent okay
16:26
and then 25 to uh 25 percent but corporate name set more so
16:33
approximately because come taxation day you will need to file your income tax now
what is the
16:40
essence of knowing all of these terms when you want to create your business model
because okay we'll use it to
16:46
supply the data needed by your um the business model canvas which was
16:52
developed by oscar walder entenur okay so this could be your
16:58
preliminary graph for your business plan so
17:03
identify key partners activities scale resources the value proposition what makes your
product service unique should
17:10
be at the center of your business model canvas and then customer relationships
channels customer segments cost
17:16
structure and revenue stream so if you want to have a thorough reading on this this is
the link where you can
17:23
find how to create your business model canvas
17:28
okay so let's move on there are
17:35
12 common specific types of business models that i'm going to present to you and we
will use
17:41
examples remember we are supposed to be first and
17:47
foremost nurses okay with entrepreneurial
17:53
idea how to create or come up with your own business model first business model one
18:00
is a subscription model where this is what is in nowadays it requires recurring payment
obviously young
18:06
netflix ghanaian new generation in our generation readers digest you would
18:11
usually subscribe to readers digest and gets delivered right to your doorstep okay now
18:17
the advantage of this is that once you get a customer all you have to do is to charge
charge charge and charge but you
18:24
also need to maintain quality otherwise always remember one of the things that i
18:29
told you about when it comes to business nothing is so good that lasts eternally
18:35
perfect situations must go wrong so nothing is permanent in business something good
or better would pop out
18:43
of the movie goers screen anytime okay so what is important is
18:49
you have to be agile when it comes to marketing your product however what is
18:54
difficult with a subscription model now that entails cloud-based storage of data that is
very
19:02
expensive so you have to know how much your cloud storage data would cost and from
there
19:10
you have to create or identify how many of your target market should sign up for
19:17
the subscription so you can pay the data storage it cannot be that you create
19:23
something you store it in cloud and then hope that people would come remember
nobody would come okay nobody would come
19:30
you have to be a little not pessimistic but you have to be a little conservative
19:35
do not over fantasize okay so sometimes excitement kills the dream okay so
19:42
business model number two would be bundling model so you're selling two to three
products together as a unit for
19:47
example globe they could bundle globe post paid plus go globe home internet okay
make sure when you are bundling um
19:56
products or services
20:02
okay now nowadays um this doesn't work anymore i used to have a platinum
20:08
account in globe that was my number since 1998 okay and
20:14
when the pandemic came and i i have upgraded our
20:19
globe home internet to 100 mbps okay which simply means in the
20:26
long and phone service because i can call through viber i can call through facebook
messenger so what would i why
20:33
would i need to pay globe that much every month to maintain my platinum um
20:39
service where in fact i i'm not using phone service anymore so i have to call
20:44
my relationship manager that's a good thing when you are given a platinum account you
have your own relationship
20:51
manager and i told her that i would be giving up my platinum account after what
20:56
23 long years and she said cersei young man because but you know i said i i'm
21:02
not traveling that much at this point in time and i don't think um
21:07
i would still be able to use the service okay because i'm just here at home and she says
okay sir but we can give you a
21:14
discount one third of the cost but i said no so i'm giving up my platinum account
21:19
just bring me to the lowest level so i can maintain my relationship with globe
21:25
and so that's what happened okay so those are the things that you have to consider
when you are doing bundling
21:31
mode like for example if you're going to do bundling mode in the yaya training program
you're gonna have bundle one
21:37
training only bundle two training plus the yayaki bundle three training plus the yayaki
plus the yaya
21:43
okay so you can do that too next business model number three this is what i'm talking
about early on freemium model
21:50
company hosts or provides a tool such as an app for customers to freely access
21:56
and then after a while a premium access package is offered like in youtube okay
22:01
when you don't want to uh be interrupted with advertisements then you can pay for a
premium youtube
22:09
account okay same is true for your link in account for your resume if you're advertising
yourself worldwide you also
22:17
need to subscribe to a free premium account so free new model means from free to
22:24
premium okay and then business model number four would be your razer blade model
it's
22:30
called razer blade if you would notice class when you buy razor blades if you buy one
22:36
set you would notice that when you buy the refill
22:41
the refill becomes more expensive than the entire razor blade that you use for
22:47
shaving okay why is that so because that's how they decided to be okay so
22:53
this occurs when a company offers a cheaper main product but whose replaceable
accessories are more expensive now this is one thing you can
22:59
consider when you're buying your first car okay you are torn between toyota and
23:05
nissan during those times okay i would say
23:10
so i got my first car it's nissan and lo and behold known after two years
23:16
replacing accessories
23:31
so that's also another form of business model okay business model number five
23:36
your product to service model so a company sells the output rather than the equipment
that creates the output for
23:42
example here's a company that sells prefabricated um grill fences so you
23:54
rather than them selling the welding machine and the ironness materials so that's your
product or service model
24:01
okay now this business model number six would be the leasing model so a company
purchases a product to be leased to
24:08
customers like rent a car business okay so if that is
24:15
who would want to write about
24:37
okay so some of those craziest ideas that could pop out of our minds could
24:43
actually be turned into profitable business ventures okay so business model number
seven is crowdsourcing this is
24:49
now what happens if you're finding a group of experts um this is when you use
24:54
social media and the internet to access various talents or human resources for example
you need a band player okay and
25:02
you can crowdsource now what is difficult with this is that if you are not careful
25:07
and you are also a middleman and you are referring these people you better make sure
you do a background check because
25:13
whatever things they will have will be reflected on you as the agent
25:20
eventually it could work against you okay so that's
25:27
a crowd sourcing uh business model business model number eight one for one
25:33
model now here a company donates one item to charity for every item purchase
25:38
now uh hindi not even
26:05
so this is a form of social entrepreneurship which means
26:22
bottled water now for every uh bottled water that you've purchased i in ipo
26:28
nilayou plastic to create one chair okay that will be used by
26:33
um elementary students eventually so you
26:41
[Music] okay
26:47
business model number nine would be your franchise model where
26:52
in established business blueprint that is purchased by aspiring business owners like for
example jollibee or monkey
26:58
nassau so like franchise sky big s
27:10
once again uh the disadvantage of this is that it's a little expensive gonorrhea
27:16
okay uh there was a friend before in sabinary
27:32
how many stores should you open and then he said that ludow okay so three times
seven hundred thousand that's 2.1
27:39
million okay and then a new investment more in terms of kitchen in terms of building in
terms of seven million
27:46
dollars that's 21 million plus 2.1 million that's 23 million and then i ask him
27:55
okay um uh 100 pesos okay so 100
28:31
everything comes at its proper place and time so i'm not saying
28:38
welcome adventures a franchise model investment i'd rather that you create
28:44
your own okay now business model number 10 is the distribution model a company
28:49
acts as a distributor to a group of agents okay for example okay online
28:55
resellers so meron is
29:01
the online resellers that sells your product that's a distribution model business model
number eleven would be
29:07
the manufacturer model a company converts raw materials into products
29:12
arena vibrant margarine and geese
29:19
and then presto my product okay again
29:44
see okay that's the reality okay so anyway and business model number 12
29:51
would be the retailer mode the atomization model a company buys goods from
distributors and sells it directly to
29:58
customers halos okay micro to small
30:04
and medium enterprise meron tayo no 99 percent no adding business establishments of
30:10
pilipinas more business model negan again okay so
30:16
what is the right business model for you there's no absolute correct answer for this
question
30:22
what matters the most is create something that is unique to your market that you know
something off and
30:30
that you think will meet the pains of your customers okay
30:37
so at the end of the day ask yourself these questions how will my product or service
benefit the customers how will i
30:44
generate revenue who's my target customers what startup cost i'm looking
30:49
at what expenses will be fixed or variable cost fixed meaning to say um
30:55
nagririkarian every month like for example rental a variable cost would mean
31:01
you um
31:07
on a monthly basis okay and then ask yourself do i need support from
31:13
investors okay and then are your investors
31:18
more likely to give you what you need mahira piantegnan because as i've been
31:25
telling you in our previous videos angus returns i times four yonkanilang investment
31:31
times four point five for me one million that but in five years taking 4.5 million
31:37
okay so and uh more often than not if the presentation
31:42
is too good to be true they don't just agree okay so if you want okay to check
31:49
out um a thorough discussion on this topic that could add up to what i've shown you
31:56
today check this out so this is actually the link to opentax.org books on
32:02
entrepreneurship and focus on designing the business model
32:07
concept okay now the 12 specific business models could actually
32:14
be narrowed down to four general types and these are usually the business models that
are being used for
32:21
e-business okay so the first one is the b2c model meaning business to consumer model
this
32:28
is the traditional retail business i mean the company sells products directly to the
consumer like in your sarisari
32:35
store okay then you also have the b2b model business to business so two companies
32:40
doing business with each other company sells to another company it's more stable if
your target company is stable
32:46
like for example you if your yaya training program you want it to be stable
32:53
participants okay you come up with a memorandum of agreement for homeowners
32:58
association so for every session 11 percent income one ibb models are
33:04
homeowners okay as part of their commission for you doing the business in
33:10
their community
33:17
on a weekly basis
33:22
with okay okay so next important thing
33:28
c2c model consumer to consumer now this involves transactions between two
33:33
consumers the consumers are the buyers and at the same time the sellers and they use
a third-party online
33:39
marketplace for trading the advantage of this model is that it has low transaction costs
example would be fb
33:45
marketplace now i'm very very fond of fb marketplace because one of my advocacies
33:51
during the pandemic when it hit the country was that anub
33:58
as an entrepreneur you teach the person how to fish don't just give the fears
34:45
you make it easy for your customers to buy from you okay
34:58
availability next month
35:05
so i think these people need a lot of education in terms of professionalizing the delivery
of products and services
35:14
so every
35:29
that's my own little way of teaching them okay now
35:35
our advertising and marketing from them minsania
35:42
uh
36:00
so those are the little things that i know i can do while i'm still at home during the
pandemic that would help
36:06
these little people who are really doing their best to make both ends mean okay
36:13
so that's one example of your consumer to consumer business model so the law one
36:18
consumers syllabus engage in a business and then c to b
36:24
model or consumer to business freelancers offer business model to a business to a
company example nito would
36:31
be the social media influencers eventually pagdumami followers parents tony gonzaga
36:37
or alex gonzaga that go offer nacilla in one specific time where okay some
36:44
companies could insert their advertisement or sometimes they have their videos
sponsored by specific
36:51
companies okay but once again um the danger of putting yourself
36:59
open to the public is that your life would become like an aquarium i've been there i've
done that and sometimes um
37:07
there are times in your life that you do you just don't feel like doing it
37:12
anymore and that's the time that you have to step back and say to yourself
37:18
reflect on what you've done and what you've achieved if it's already enough for you to
last a lifetime
37:26
then that's a time for you to exit okay next
37:31
okay so with that i just hope i was able to give you an idea of how to identify
37:38
the right business model for you but in a nutshell when you are identifying a business
model you have to decide
37:46
whether you are coming up with a market driven business meaning it's it's based on
what
37:52
the market needs and what is demanded by the market or is it based on techn or is
37:57
it a technology driven business which means young expertise
38:06
you always based your choice of business model on what your market needs so it has
to be
38:14
market the event so young expertise
38:26
into another business that you can put up that is based on what the market
38:32
demands okay so examples
39:12
as an accountant being a consultant for your subscribers okay that's the way to
39:19
do it okay so thank you so much for engaging with me today and we're gonna have
more
39:24
of this in our next set of videos
39:46
you

PART 5 ENTREP BEHAIVIOR AND PERSONALITY

joining you for this teaching and learning session on entrepreneurial behavior and
personality so we're gonna
0:14
have this session in three parts so without further Ado let me start with
0:23
my Declaration of fair use my Declaration of authorization for
0:29
possible playback and of course my Declaration of no conflict of interest I
0:35
declare no conflict of interest so let's begin with our part one discussion and
0:42
for this specific session we will cover what is contained in our objectives
0:49
so without further Ado let's begin so if I ask you this question what makes an
0:56
entrepreneur once again in our previous videos we've addressed this issue and we
1:02
we tried to analyze it and identify whether it's due to Nature or nurture
1:08
meaning could it be genetics or could it be a stimulation from environmental factors
1:16
so I was raised in a very entrepreneurial family so
1:29
early on I was really exposed to a very entrepreneurial environment one funny
1:35
thing is the fact that when I went into a meeting in a university in our Province the vice
president came to me
1:43
and said Dr Ray we've met each other in our past lives
1:48
and I said that's a livestock something I'm just kidding it's actually several years ago
1:55
when you were still very young because I used to be one of the boys that sell
2:02
pandesal from your bakery and I said oh my God and he's not the vice president
2:08
of that University so using all of those things that
2:16
have stimulated our minds on what really makes an entrepreneur let's proceed
2:21
further by identifying what is it in our personality that makes
2:29
us a potential entrepreneur or are really are we really born with the
2:36
traits that will make us a successful entrepreneur so when you take a look at
2:41
personality it's defined as the integration of those systems and habits that represents
an individual's
2:47
characteristic adjustment to his environment two important words integration meaning
it could be a
2:54
function of both genetics and environmental factors and
3:00
adjustment so what does that tell us personality is something that we can
3:06
predict based on how a person behaves so that would make us think therefore can
3:13
we predict if a person would become an entrepreneur would there be indicators
3:18
could it be dependent on how they cry at Birth
3:26
could they become an actress or if they cry like Henry C when he was
3:33
born would he be a good entrepreneur okay so the these are questions that we
3:38
would want to answer in this discussion okay so according to Dr Martin reason an
3:45
entrepreneurial personality is one that sees opportunities and exploits them by
3:52
creating value for themselves and others sustainably which simply means that an
3:59
entrepreneurial personality is good at scouting
4:04
opportunities where they can offer a solution to improve whatever is existing
4:12
in the market and potentially getting rewarded by a return of their
4:19
investments in terms of their time energy and resources and that is in a
4:26
nutshell what an entrepreneurial personality is however we have to remember the fact
that some
4:32
believe that some personality traits are fixed okay we're not saying that they are wrong
we have to respect those who
4:39
believe that entrepreneurial personality traits are fixed however there are those
4:47
that say otherwise and there have been studies from across several decades
4:54
already that tell us that the entrepreneurial personality can be
5:01
something that can be developed in a person but this brings to mind again
5:07
um the question when is it the right time for a person to become and an entrepreneur
okay do we have
5:14
entrepreneurs immediately at Birth do we have entrepreneurs when they already get
retired now the question is when you are
5:22
an entrepreneur how much can you spare in terms of your time
5:28
energy and resources in other words in Tagalog
5:34
because the entrepreneurial mindset is one who is a risk taker that's why a lot
5:42
of business gurus would usually say you have to venture into business when
5:49
you're risk taking abilities are still strong enough to withstand failure after
5:57
failure because that's always a reality when you do business so in Tagalog I would
usually say inigos
6:08
because when you take risks you can never be sure that you will succeed on
6:16
your first try Okay food for thought now according to Raj in 2014 characteristics
6:23
like self-efficacy and achievement motivation can be influenced by simple
6:29
interventions therefore if we keep on motivating a person
6:36
through interventions that could be as simple as this is what my mom would
6:41
usually do to me okay we don't get a new set of school supplies if you
6:49
don't graduate with honors and the point was when I was in
6:54
elementary I think I was just living in the shadows of my sisters who all graduated on
top
7:00
of their class and so I was always at the tail and La guitar
7:06
why well for whatever reason there is but maybe because I'm being compared to
7:12
my older siblings who actually uh went to the same school before me and so what
7:18
my mom did very simple intervention she transferred me to a new school where
7:24
there were more challenges and there I learned how to innovate and
7:33
apply it into my study habits and so at the end of it even if I was transferred when I was
already high school at the
7:40
Don Mariano Marcos Memorial State University that was Don Mariano before okay
when the marcosis got exiled
7:47
imagine okay
7:56
that's actually a joke in this court in our school so actually with that simple intervention
8:02
transferring me to a new environment I was able to adjust that's the basic
8:09
function of personality and applying it into the mindset of the entrepreneur
8:16
when you bring an entrepreneur to another environment they would
8:22
definitely Thrive that's how they are okay so here's a sample task suppose you
8:29
asked four of your groupmates to prepare decorations in your unit for a competition
okay and imagine yourself as
8:36
a part of an rle group or a group of nurses in award and this is how your
8:42
four group mates responded so decorations for example for a
8:48
competition the best decorate decorated unit in the hospital and so
8:55
this is how the members of your team actually reacted so you have nurse a who
9:02
reacted with a lot of enthusiasm and that person begins to talk and talk and talk
9:09
okay that's the sangin personality
9:18
okay nurse beer or nursing student B okay okay
9:24
went down to work right away sets the goal and works independently
9:31
okay goals and objectives
9:39
that's actually the choleric temperament the nursing students see
9:45
try to think for us and then plans for the details the repeated detail-oriented
9:53
person that's the melancholic is
10:00
it and of course there's one person who doesn't want to think okay who doesn't
10:07
want to get down to work right away but this very caring person would be very quiet
10:13
and easy going and would love to be just the targeting plan and copy of the team
10:19
so that is the phlegmatic now these are the four temperaments based on
10:24
Hippocrates okay who identified it and actually
10:30
classified people during his time based on these four major temperaments Okay so
10:40
how do we communicate effectively with these people the sun gain they need
10:45
guidance and since they are very good at talking then you can assign them as the
marketer of the team wow so in a
10:52
business sense the sangin personality is a good marketing officer the coleric in the
other hand who sets the goal and
10:59
works independently allow them to lead the team these are the people who are born
leaders the Milan colleague on the
11:06
other hand who loves to think and think and think okay appoint them as part of
11:11
the think tank strategies okay and of course the phlegmatic who just loves to
11:17
prepare coffee ask them to provide care for the team in
11:24
essence okay who would make a good entrepreneur there's no such thing as
11:31
um one size fits all for entrepreneurial personality uh
11:38
entrepreneurship because you're very caring it's not like that we all have
11:44
specific amounts of these temperaments in ourselves okay so that's a contention
11:50
so after meeting your team to create the decorations this is how
11:56
you should assign the task to your team question is how okay you assign the
12:03
melon colleague to think about the strategies how can we beat the competition and
then okay you assign the
12:11
caloric who gets down to work right away works independently to lead the team to
12:17
work on the task and then you assign the phlegmatic to take care of the team provide
the coffee and the food they're
12:24
quiet and easy good luck is going and then
12:30
to market the product present it to the judges so therefore
12:37
if you are to be considered as possessing entrepreneurial behavior and personality what
should you have you
12:44
have to have a little of all of this okay so me I'm more of the sangin type
12:51
okay and the choleric type I buckle down to work right away I identify my goals
12:58
and then I talk and talk and talk about it okay now the question is how will you
13:04
know your temperament you can go to this site take a short quiz that's less than five
minutes and you'll get to know what
13:10
your temperament is this is also very important when you're dealing with your cost of
nurses eventually or your fellow
13:17
nursing students when you're doing group work so you don't expect okay a person who
is singing to think
13:23
before acting okay you don't expect
13:28
a accoladic person to initially just be easy go lucky no okay no no no no so in
13:38
essence in essence it's very important that you have to have a little of
13:44
everything so look at my results so I'm a bit of the choleric and melancholic okay sorry
choleric and the sangin and
13:52
of course a bit of the melancholic and the phlegmatic so in essence
14:03
strategy but I'm more of an independent worker echoleric and a marketer
14:15
invitation to speak in professional Gatherings every week
14:20
okay so according to the results my impairment is I'm a sangin okay I'm fundamentally
14:28
spontaneous and pleasure seeking sangan people are sociable and charismatic they
tend to enjoy social Gatherings making
14:35
new friends and tend to be boys to those they're usually quite creative and often they
dream however some alone time is
14:42
crucial for those of this temperament sangin can also mean sensitive compassionate
and thoughtful singing
14:48
personalities generally struggle with following tasks all the way through are chronically
late and tend to be
14:55
forgetful and sometimes a little sarcastic I'm not chronically late in fact I always respect
time okay so often
15:03
they they pursue a new Hadi they lose interest as soon as it ceases to be engaging or
fun they are very much
15:10
people persons they are talkative and not shy sangings generally have an almost
Shameless nature certain that
15:17
what they are doing is right they have no lack of confidence so
15:23
confidence is what sets the entrepreneurial person from the rest you
15:29
have to believe in yourself in what you are doing and in the output whether that
15:35
be a product or a service that you have came up with okay so what makes
15:41
therefore an entrepreneur so I've been saying a while back there is no one-size-fits-all
portrait of the
15:48
entrepreneur which simply means study suggests that it is unclear whether
15:53
individuals with a given set of personality traits decided to go into
15:58
entrepreneurship or whether they develop the traits after becoming entrepreneurs
16:05
so what is this trying to tell us that these are trying to tell us are the entrepreneurial
personality
16:11
traits the cause why a person is an entrepreneur or is it the effect
16:18
meaning something that they develop after they became entrepreneurs you own bank
personality traitsang
16:26
entrepreneur I and Kombat
16:38
so what I can potentially say is that it could possibly be both it's not for us
16:44
to resolve at this point because this is a finding of a review of literature that's done at
the Harvard Business
16:51
School now the question now is this is like a chicken or a dilemma okay but
16:58
what matters for us in this subject is we need to identify the personality
17:05
traits of the entrepreneur and then describe it and try to reflect
17:13
how are these potential potentials within ourselves can be
17:22
developed such that we become full-blown entrepreneurs okay so it's very very
17:29
important to note that so let's not a straight from our Focus okay
17:39
[Music]
17:56
entrepreneur or entrepreneur okay so which begs us to ask this question who
18:03
is an entrepreneur an entrepreneur now what is important when we're dealing
18:09
with the entrepreneurial personality is that we have to acknowledge that the
entrepreneur
18:15
whether they're venturing into a business or
18:21
there's preparing to venture into one should have both a vision and a mission
18:27
they should know the direction they're getting into they have to have a clear idea of how
their status in life as well
18:36
as the product that they will introduce become in the future that's why you will have to
ask the question
18:42
how do you see yourself five years from now and then they also have to have the
18:47
mission which means they have to have the overall goal they have to know their sense
of purpose because it's their
18:55
sense of purpose that will help them identify what product or service will they introduce
okay the customers that
19:02
they will Target and the location where they will put the business and this is
19:08
very very crucial entrepreneurship okay
19:16
now an entrepreneur is characterized as this is one thing that I formulated the
19:22
code is antra enthusiastic you have to have a passion but your passion should
19:30
be grounded on your absolute truth because
19:36
if because if you are just
19:42
doing things because you are passionate about it but you are not accepting your
19:49
truth or the reality of the situation you're in then that could be just delusional in nature or
false belief
20:06
don't be like an entrepreneur I know nah okay
20:17
so do not pretend be as realistic as you can be so do not drive your
20:25
entrepreneurial energy such that you are only driven by enthusiasm and passion
20:31
Your Enthusiasm and passion should be grounded on your absolute truth okay
20:37
next an entrepreneur is a networker okay so which simply means you love meeting
20:43
people you love making friends but you have to know when
20:48
to Bridge and when to build a wall because one business part of mine always
20:57
reminded me before always remember everyone is a sucker
21:02
okay and then of course an owner of a very popular um coffee shop chain of coffee
shops
21:10
reminded me Ray let's attend the event and then get out right away and I said why and
she said you know what happened
21:17
to me last time I attended a networking night then my email got flooded with so
21:23
many proposals and solicitation so in other words
21:33
as a result of networking you have to be ready but you have to know how to say no
21:39
gracefully okay because when I was starting my business
21:51
be aware of that next entrepreneurs thrives on challenges but once again
21:58
this is very as one theories would say some of these indicators and characteristics
could be age specific
22:05
which I agree when I was 22 years old because I'm now 26. sorry
22:13
one student of Mines sir we're not asking about years in service we're
22:18
talking about your age okay so when I was 22 my
22:23
energy for challenges was at its peak but whoever said that life
22:30
is perfect when you start your time as an entrepreneur you have
22:38
the energy you have the time and you don't have the money so you work hard for that
and then Midway you'll have the
22:44
money you'll have the energy but you don't have time okay and then towards the end of
your entrepreneurial career
22:51
you have time you have the money but no more energy so which begs us to ask the
22:57
question when is the proper time to exit as an entrepreneur you just have to respect
23:04
generation and your specific goal so when you reach
23:13
that goal then that's all right you serve your purpose you serve your
23:18
mission like for example an x amount of money
23:30
you just have to respect the time the
23:35
generation and be grateful that during your generation
23:42
you reach the peak but that's not the design of the world or the universe that you'll stay
on top
23:48
forever no that is a useless proposition you cannot
23:54
the law of gravity would always tell you to go down because that's how the world
23:59
is designed otherwise
24:05
stay there forever no okay so once again entrepreneurs are Risk Takers what does
24:12
that mean they have that innate sense
24:18
of venturing into something new sometimes that is completely absorbed
24:23
and unknown absurd and unknown to them okay and that's one of the characteristics of
Donald Trump
24:30
he wants every day to not actually every day but every hour to accomplish one
24:35
thing and he wants to win every deal that he
24:41
gets into okay sometimes at the expense of his
24:47
family okay but that's how they are that's how he is as a person
24:52
now entrepreneurs are also extrovert and proactive what do you mean by extrovert
24:58
okay they love to socialize what do you mean by proactive they don't they don't
25:04
have they don't need any instruction from someone they don't have to be told
25:10
of what to do they know how to anticipate they do something in anticipation of certain
25:16
things but for you to do that you are supposed to be properly informed what
25:22
can trigger happy before the pandemic some of the executives in our family
25:28
business or presenting to me proposal for expansions into other countries
25:34
which I refuse and said no no no and no okay why because I attended this
25:41
Forum with Robert Kiyosaki the author of good dad bad dad and he said it's very
25:49
clear that the world is right for a worldwide meltdown but he doesn't
25:56
know what will cause that meltdown that's before the pandemic and so being
26:02
informed of this I prepared preparation means I have to discipline my people
26:10
make them understand what I'm saying from the information I'm getting from
26:16
the experts and true enough before the pandemic came in we were prepared the
26:23
company is flexible enough and so we were able to sail through it and
26:29
right now back on track two expansions so that's in a nutshell
26:36
what characterizes an entrepreneur enthusiastic networker thrives on
26:41
challenges Risk Takers extrovert and proactive okay now the question is do
26:47
certain traits predict an individual's likelihood of becoming an entrepreneur
26:53
nothing or
27:01
is
27:10
okay so let's answer those questions using the big five model and the concept
27:19
of locus of control and so let's begin with the big five model the big five
27:24
model is a multi-dimensional approach towards defining um what personality is it is the
most
27:31
widely accepted personalities Theory held by psychologists today now according to the
big five model
27:38
personality can be described by five core factors namely the mnemonic is ocean
openness to experience
27:45
conscientiousness extroversion agreeableness and neuroticism okay so we
27:51
will talk about this in detail and identify the indicators and bring into the scenario how
these are
28:01
observable in terms of the entrepreneur vis-a-vis the manager so we'll compare
28:06
the two so the big five model asserts that each personality trait is a
28:12
spectrum spectrum and we fluctuate okay it's not
28:27
it's not like that so being in a spectrum means that
28:33
levels of the trait exist within an individual we could be less open but
28:39
more consensus we could be more open and more extrovert but less neurotic or
28:47
neuroticism Okay so that's what we mean by the personality
28:53
trait being in a spectrum okay so studies suggest that heritability and
28:59
environmental factors affect all five factors to the same degree ah so this
29:04
therefore answers our initial question what makes an entrepreneur is it nature
29:09
or nurture nature or nurture both heritability that's nature environmental
29:17
factors how we were nurtured affect all five factors to the same degree which actually
brings to mind the question
29:24
therefore genetic a part influencia
29:36
the entrepreneurial trait and behaviors can be developed
29:41
let's answer that in a while so according to the big five model this actually precedes
Hippocrates four types
29:49
of temperament okay it was based on the works of various researches like catel fist
29:56
Norman to pass Crystal Costa and McRae including Goldberg okay so this is very
30:03
very important okay for us to know okay the five macro threads remember the code
30:10
ocean openness to experience how would we know so you can be imaginative or
30:16
spontaneous or reverse routine or practical if you are imaginative or spontaneous you
can be the
30:22
entrepreneurial a person if you prefer routine and you are a little more practical
30:29
how do you come up with a cost effective budget you could be a manager okay
conscientiousness you are disciplined
30:36
and careful because you take all the risks you take care of your money or you can be
impulsive and disorganized
30:43
you propose for ventures okay
30:48
that could be done if you're not taking the risk at all and that's primarily associated with
being a manager or
30:55
extroversion meaning you are sociable and fun lobbying or you are reserved and
31:01
thoughtful agreeableness suspicious and uncooperative you hire people but you
31:06
don't want to um delegate tasks because you don't trust them so what's the use or are
you
31:12
trusting and helpful because eventually an entrepreneur should be someone who is
willing to distribute
31:18
ownership of the business to those people who are essential to their
31:25
operations and then neuroticism are you anxious or pessimistic or are you calm
31:31
and confident you need to become inconfident if you're an entrepreneur
31:36
counting problem and that sends you into panic and a person who is in panic could
potentially become hostile and
31:43
eventually will have personality disintegration okay next okay so let's pay particular
31:50
attention now to the descriptors or the description of the five macro trades openness to
experience means how open a
31:58
person is to new ideas and experience if you say yes to this you could be a good
entrepreneur conscientiousness how goal
32:05
directed persistent and organize a person you are if you have these
32:10
characteristics another check extra version how much a person is energized by the
outside world
32:16
so you have to ask yourself what pushes you to do your thing
32:21
okay is it just your internal motivation or partly you are energized by
32:29
accolades you're receiving from people around you okay agreeableness how much a
32:35
person puts others interests and needs ahead of their own so entrepreneurs are
32:41
good at putting themselves at the bottom of the list when you are
32:47
identifying what should be the priority the priority should be what you can offer your
customers how can you add
32:53
value to your products and then neuroticism neuroticism is not the same as being a
neurotic Behavior according
33:00
to Freudian Theory so neuroticism in the context of the entrepreneurial State means the
ability to withstand stress in
33:08
other words how much emotional emotionally stable you are so it simply
33:15
means if you are very sensitive to negative emotional triggers that could be a red flag
because as an
33:22
entrepreneur you will experience a lot of rejections a lot of rejections and some people
may
33:28
not be good at um making the rejections uh more acceptable on your end sometimes
people
33:35
really are very open offensive with their words but that's how the world is whoever said
that the world is
33:42
not full of cruel people okay when you go out there like in the ocean there are sharks
and whales but it
33:49
is your exposure to those sharks and whales that would actually strengthen you
eventually so there's no
33:57
such thing as negative experience only learning opportunities okay so look at
34:06
it as a learning opportunity Now using the big five model let's differentiate
34:13
the entrepreneur from the manager an entrepreneur is a Visionary they know
34:19
what they want in the future the manager who is an employer of the boss would
34:24
align their Vision with what the employer wants them to do okay so that's a difference
next the
34:32
entrepreneur takes all the risks remember the entrepreneur must be very Staker
34:37
the manager does not bear any risk at all that's why sometimes they are giving a lot of
proposals okay pandemic my
34:44
proposal but in for expansion okay next for the entrepreneur achievement is the
34:50
key motivation they want to get to the goal but some of these people don't
34:56
really know how to have a good accent okay we cannot own
35:03
the world no matter what we do that's not the design of the universe so once
35:08
you have achieved what goal you've set for yourself then find peace that you have had
your
35:16
moment in time okay all of us are in our respective in the meantime favorite
35:22
author Ian lavanzan okay we are all in the meantime but you have to use your
35:29
mean time to prepare for your moment in time okay okay
35:39
give me One Moment In Time
35:49
they're in that one moment of time again
35:55
on I will feel oh my God okay
36:00
that's the key motivation achievement for the manager the key motivation is
36:07
being promoted to the next higher position and eventually being the CEO of the
company for the entrepreneur they
36:15
don't get motivated by money alone they look at profit as their reward for a job
36:21
well done remember when you've done your part the universe
36:27
will reward you in a million ways that you can never ever imagine for the
36:33
manager salary or remuneration is the reward I want the next higher salary and
36:39
the entrepreneur is usually very informal and casual
36:46
branded clothes okay the manager would usually do that part of their packaging
36:52
of the position they hold the entrepreneur [Music]
36:59
for as long as they are presentable they smell good they are clean they are very
37:05
hygienic and once they open their mouth people would listen that's the entrepreneur
37:12
okay
37:18
okay so let's move on so if we're going to differentiate now the
37:24
entrepreneur versus the manager using the big five model approach in terms of
37:30
openness to experience the entrepreneur is more open the entrepreneur is
37:35
attracted to changing environments because they are Risk Takers the manager may
have less of this we're not saying
37:42
they don't have this remember they are in a spectrum okay conscientiousness
37:50
um the entrepreneur is usually very dependable because the entrepreneur also acts as
the consultant of their own
37:56
business they have higher achievement motivation the managers also Dependable but
their motivation is different from
38:04
that of the entrepreneur some people would say and the Mantra is to kill the competitor
38:10
you cannot do that the world is not I beg to disagree with that Mantra but you
38:16
know even my my sisters who studied in uh very very well known business schools
38:21
here in the Philippines and abroad we usually say kill your competitor I said no I don't
believe in that
38:28
we better ourselves that is a better Mantra than killing your competitors or
38:33
killing the competitors not literally killing the competitors
38:38
or stabbing them with knife but killing the competitor means you kill them in
38:44
the market because I don't believe in management by market share as an entrepreneur
38:51
management should be geared towards profit so that you can sustain your
38:56
Enterprise and pay your employees better so what difference does it make if you
39:03
make 1 million pesos by just having 100 customers than earning 1 million pesos
39:12
and serving 1 000 customers if you're serving 1000 customers that would make
39:17
me make it um lose your call okay
39:23
pleasing everybody that's not a good way to do it okay try to please everybody and you'll
expect failure that's not the
39:31
way to do it the way to do it is create your niche
39:36
make it so palatable and delicious and let the brand withstand time okay
39:43
extra version the entrepreneur and the manager are similar however small business
owners are less likely to
39:49
attend big social Gatherings because usually small business owners would prefer
sending to their business
39:57
especially you would not get anything after except
40:02
solicitation letters okay next agreeableness less likely to worry about pleasing other
people that's the
40:09
entrepreneur okay because well anyway
40:14
pleasing people which is termed in psychiatric nursing as enmeshment okay or
relationship
40:22
addiction okay is actually something cultural whether
40:27
we like it or not that's how we were raised by our parents and in psychiatric
40:33
nursing they are called helicopter parents parents who meddle with the Affairs of their
children in such a way
40:39
in a while and in privacy and Boundary but the letters
40:45
very Filipino however however that is called as investment trauma in
40:53
psychiatric nursing and okay if you are an entrepreneur
40:59
that's not a way to do it you please your customer with the goods or the
41:05
services that you offer not not something else because at the end of
41:11
the day they will look for the product or the service that they want
41:19
in some other ways okay the manager
41:24
manager they work to please the boss make the boss happy that's the manager
41:29
neuroticism okay their emotional instability the entrepreneur is less neurotic so they are
Risk Takers they
41:36
are more confident and so therefore they have high tolerance to stress and one thing
that I can share with you if you
41:43
want to increase your tolerance to stress is you have to have a work-life balance and
you begin with your mobile
41:50
phones have at least two mobile phones one would be poor work one would be for
41:55
your family or personal uh friends such that do not make your house an
42:01
extension of your work otherwise you'll be prone to burn out okay so the moment you
arrive home turn your work phone off
42:09
and turn on your family phone so that would help you achieve work-life
42:17
balance during this time okay so definitely the manager they are
42:22
expected to deliver on the tasks that are presented to them by their boss so
42:28
they are in that sense okay um more aligned with focusing more on
42:36
the tasks at hand okay now researchers suggests entrepreneurs
42:43
strive on a strong sense of self-efficacy meaning a belief that tasks can be performed to
execute their
42:51
Vision what they want to be in the future and a kin eye for Innovation to
42:57
identify new products and markets sometimes they turn complaints or irritations
coming from
43:04
other people or their customers as their basis for creating a product because as an
entrepreneur when you innovate you
43:11
need to offer a solution to the problems of the world okay but the point is now
43:18
when you come up with a product because everything is out there in social media the
moment you Market it somebody will
43:24
imitate it but that's always the danger of being an entrepreneur
43:29
so if you are asking my personal opinion when you innovate you have to make sure
43:36
that you have a market that is ready to adapt your Innovation
43:43
or your product because if you put something out there hoping that
43:49
the market will notice it hoping that your investors will notice it at the end of
43:57
the day they're just going to copy it okay and Technology now can make it easy
44:03
for them to do that so if you would want to assess your entrepreneurial trades
44:09
you can go into this side and take a short online quiz and you'll be able to
44:15
identify whether you possess the entrepreneurial traits that we've just
44:21
discussed okay the second concept that we're going to discuss in relation to
44:29
our question on whether we can develop the personality traits of
44:35
the entrepreneur is the concept of locus of control now this concept was first
introduced by Reuters through his theory
44:44
of social learning okay so according to author's theory of social learning behavior is
determined by nature or
44:51
importance of goals which are very very evident in entrepreneurs and anticipation that
the goals will occur
44:58
once again the nature of the goals and the anticipation that the goals will occur these
are very very
45:04
characteristics of the entrepreneurs
45:12
very very aligned with rotter's theory of social learning so rotter describes
45:17
personality as a stable set of potentials which simply means since it's stable it's very
predictable so since
45:25
it's predictable you can be sure that when an opportunity presents itself the
45:31
entrepreneurial person will respond to that situation in a particular way and
45:37
the router also describes personality and behavior as always changeable so
45:44
that answers the question on is there a possibility that a person becomes an
45:49
entrepreneur after retirement there's always a possibility because we can always
change our personality and
45:56
behavior however
46:07
okay as I've said early on you only put
46:13
into business that which you can afford to lose in gambling in other words since
46:30
okay okay so rather also suggests if you
46:35
change the way a person thinks or the environment the person is responding to
behavior will change look at what
46:42
happened in the pandemic online selling online learning
46:50
an environment
46:58
foreign [Music] and that will not revert back to our
47:06
Stone Age belief in our own Echo chamber in our respective caves in this world
47:15
is
47:30
okay I've always espoused for innovation in terms of teaching and learning and
47:36
and some mentors would usually ask me but how do we know that the students are
47:41
engaging in the content there are numerous ways a thousand and one ways that
47:49
we can evaluate if the learning has occurred and how can we be sure that if
47:55
we lectured and finish the topic within the specified period of time
48:01
or they have just written data data as in raw information because if the data
48:08
are organized then it becomes now your information and when you synthesize
information that becomes knowledge and
48:14
when you use that knowledge to make decision then you gain wisdom what is our
48:20
expected outcome learning about Behavior change
48:27
so therefore memories
48:37
that's why I always pass for gardeners multiple intelligence theory
48:45
like if we want to become nurses exam
48:54
I beg to disagree that's why I always say
49:00
let's recreate our teaching and learning platform and adapt constructionism and
49:06
constructivism okay so that we are very very aligned with The Changing Times
49:12
however we are in our own Echo chamber of primitivity in the caves where we occupy
49:20
listening to the thoughts that other people like our age [Laughter]
49:27
pestering as a way that effective effective until the world has changed and we are now
being left behind Okay so
49:36
how do we differentiate the theory of rotter let's focused on social learning from that of
Freud's that is focused on
49:43
psychosocial development psychosexual rather development okay so according to
49:48
rotter behavior is controlled by seeking positive experiences so on psychological
49:57
accomplished and that person could be given a pat on the back psychological
50:03
paycheck Freud According to Freud says behavior is controlled by unconscious drives
they
50:10
eat the ego in the superego okay and that occurs as we develop our personality the
infant is all Eid and
50:17
then the toddler develops the ego and the preschooler develops the superego that's
According to Freud however young
50:25
fiorian Errata is more aligned for the entrepreneurial personality in which the
50:32
development of a person is reinforced by the positive experiences that could be
50:38
brought about by achieving the goals they have set for themselves yeah okay now locus
of control let's relate it now
50:47
to the theory of Runner is a concept of defining whether a person believes they
50:52
are in control of their future or someone else is in control of it so which simply means
51:05
hinaharap okay
51:10
foreign
51:27
ERS tend to have a strong locus of control which means they believe they
51:33
are in control they create their Destiny they don't wait for people to create it
51:40
for them so when you say locus of control you have internal locus of
51:45
control and external locus of control internal locus of control this occurs
51:51
when a person conceptualizes their own decisions and they control their lives external
locus of control occurs when a
51:57
person believes that true controlling factors are chance Faith or environmental features
they cannot
52:03
influence so it simply means paraceland helpless or
52:14
but by chance
52:20
don't think like that entrepreneurs will
52:25
make decisions that will pave the way for them so that they can control their
52:32
lives okay so there's only one thing that an entrepreneur aspires to achieve
52:38
initially that is to create their own Pathway to
52:44
success and that begins with their internal locus of control the decisions
52:49
that they make such that they can control their vision of what their future is
52:56
like okay so researchers suggests a link between belief in internal locus internal
53:04
control to the likelihood of engaging in entrepreneurial activities
53:12
an internal locus of control
53:19
entrepreneur all will engage in entrepreneurial activity
53:27
okay so once you lose that control and you don't know what to do then
53:33
you just have to pace yourself properly don't quit face yourself properly study the
environment okay so the question now
53:40
is can entrepreneurial traits be developed okay so according to Social
53:46
Learning theories okay social learning theories show that
53:53
humans learn through observing and imitating others therefore we can develop
entrepreneurial traits by
54:01
observing others how they do it and by imitating others so according to the
54:07
social learning theories kasamajan and imitation whether we like it or not people will
imitate what we will do okay
54:13
but find comfort in the fact that as they say imitation is the best form
54:20
of flatteryaka you must be doing something good
54:32
cannot be that's why when you become an entrepreneur make sure everything has
54:37
been properly trademarked in your name copyrighted in your name and nobody can
54:43
take that away from you that's your moment in time okay
54:52
elsevier that's my moment fine during that moment in them I can lay
54:58
claim to the fact that I was the first anybody who comes after me just second sorry
once you have that
55:07
yet then you can now actually take a look at the
55:14
other aspects of living okay addiction
55:19
okay it doesn't make sense okay do something different okay do something
55:26
for others in a different way so when you talk of the theories of
55:31
social learning um there are two theories that are um standing out one would be rotter
and
55:38
the other one by bandura rotor is more specific bandura is broader actually
55:43
bandura a social learning theory has more application in teaching and learning rotter
according to rotter
55:50
behavior is controlled by seeking positive experiences so like the entrepreneur they
want to be
55:57
um reinforced by positive experiences so that's their main motivation and their
56:04
behavior as a response to Opportunities or threats changes okay on the other hand
56:12
according to bandura social learning occurs through observation imitation and
modeling which is also
56:19
applicable to the entrepreneurial trade as an entrepreneur you have to observe
56:25
market trends you can imitate and improve on existing products and services and you
can actually learn from
56:33
your role models okay so according to bandura okay social learning could
56:38
result to a could result from reinforcement learning or vicarious
56:44
learning what do you mean by via carriers it is a secondary experience Hindi economy
56:50
You observe somebody do it so a lot of business Guru would usually tell you
56:55
before you aspire to be an entrepreneur well
57:04
um establish the company of an entrepreneur learn the trade but
57:10
you don't commit the same mistakes somebody would buffer it for you because
mistakes are expensive okay so
57:19
like for example house builders
57:24
around Asia learn the parade suppliers and then once
57:31
come up with your company that should be different Naman don't directly compete with
your creator you always improve on
57:38
the services and maybe have your own niche market don't go in the recollection with
your
57:45
Creator don't do that okay that's a very good trait of Filipinos
57:50
for the longest time so on my end when I put up my own company initially after I
57:57
learned the trade coming from from a reality it was very famous at doing his thing okay
58:05
para I'm not in direct collection with my creditor you always have to remember
58:11
that that's okay thank you and that's actually our first
58:19
part I'll see you back again on the second and third part I hope you enjoyed
58:24
our part one discussion

PART 6

good day once again fellow Learners this

0:05
is your Mentor Ray gapos joining you for
0:08
part two for this specific concept on
0:12
entrepreneurial behavior and personality
0:16
so let's get a ball rolling this time
0:21
before we begin let's focus on the
0:24
objectives for this session
0:26
and let me begin with this question do
0:31
certain traits predict an entrepreneur's
0:35
likelihood of achieving success
0:42
there is this billionaire entrepreneur
0:46
who's very young was a business Club
0:57
[Music]
1:00
okay
1:03
okay anyway
1:06
and then my staff said because that's a
1:09
sponsored flight so I was invited so
1:19
personal assistant
1:22
my executive staff
1:24
it's a business class
1:27
and so the guitar is
1:30
a business Club the billionaire
1:32
entrepreneur
1:35
and then my very observant executive
1:38
assistant eventually asked me sabines
1:45
and then
1:50
it is
1:57
executive assistant
2:04
and then I said
2:14
um
2:20
[Music]
2:26
and as a business class section
2:30
executive assistant but don't get me
2:32
wrong you're gonna be the same
2:34
organization is the one that booked me
2:36
don't say business class I really
2:37
wouldn't mind it's a tricycle mode
2:41
I wouldn't mind okay okay
2:48
[Music]
2:55
foreign
3:01
sabiko
3:03
it was a billionaire young and then I
3:05
answered back economy
3:11
and that was the same answer
3:13
that
3:15
one of my friends
3:18
told an acquaintance
3:34
over
3:41
credit cards
3:50
what does that tell us it's telling us
3:55
that our decisions and outlook on how we
4:00
spend our money
4:02
who determine
4:05
how much we would be able to save in our
4:09
entrepreneurial venture remember
4:12
wealth is not about how much you weigh
4:15
wealth is how much remains after
4:20
spending what you make so well
4:26
[Music]
4:36
as we go along our discussion okay blind
4:41
item in a positive way
4:51
foreign
5:19
okay let's go
5:22
so what are the 11 characteristics of
5:26
successful entrepreneurs this is based
5:28
on an article of collated studies
5:32
um based on collated studies published
5:34
by the Harvard Business School so number
5:37
one curiosity
5:39
so
5:40
as an entrepreneur you have to
5:43
continuously seek New Opportunities how
5:46
do you do that first have a drive to
5:49
consistently ask questions like for
5:52
example na
6:04
you know
6:09
um
6:23
that's how you actually build your
6:28
business ask questions from your
6:31
customers because at the end of the day
6:38
so always have that habit of asking
6:42
questions okay
6:48
okay next
6:53
structured experimentation conduct
6:55
market research and then test run okay
7:02
for those of you know
7:08
turn off the century the early 2000
7:11
before Facebook there's a very very
7:15
popular social networking site
7:17
frenchster
7:27
created one for me okay however
7:30
eventually
7:32
bucket
7:36
because Facebook was quick too
7:41
adapt by focusing on the experiment a
7:46
new experiment
7:49
how their customers are using their
7:52
products
7:54
and Facebook online
7:58
features to allow that
8:01
okay
8:02
and we are supposed to be that proud
8:05
because
8:09
on social media now
8:13
some businesses become successful on
8:17
their secondary purpose not on the
8:19
primary purpose okay
8:23
and on Facebook
8:26
collection photo album on the internet
8:33
however people
8:35
came up with a better idea use it to
8:39
sell their goods and services and so you
8:43
have to base your decision to revise
8:46
your product based on that
8:50
specific
8:51
experimentation done by your customers
9:00
so you always have to engage in
9:03
structured experimentation okay third
9:06
adaptability know how to evaluate
9:09
situations how
9:12
first and foremost as they say change is
9:15
the only important thing in this world
9:16
therefore
9:17
you have to be able to anticipate change
9:21
there's no such thing as
9:23
what is effective before is still
9:25
effective now no
9:27
things have changed people have changed
9:30
the attention span of the Gen Z Learners
9:32
has gone down to eight seconds okay so
9:35
therefore we can create and create an
9:37
video eight hours
9:42
five hours
9:44
because if you would notice now
9:48
um the vlogging is geared towards videos
9:51
that are less than 10 minutes so why
9:54
would you stick to your three hours five
9:56
hours blogging okay you have to learn
9:59
how to adopt okay next
10:03
decisiveness have the confidence to make
10:06
challenging decisions if the outcome is
10:08
less favorable favorable come up with a
10:11
corrective action right away so being
10:13
decisive does not mean that you have the
10:16
answers all the time being decisive
10:19
simply means you take a stand based on
10:22
your absolute truth and values as an
10:25
entrepreneur which simply means
10:47
now you have to decide now so that when
10:52
the decision does not turn out to be
10:55
that good you have time to reassess and
10:59
introduce a corrective action next
11:03
successful entrepreneurs are confident
11:07
they have the confidence to advocate for
11:10
their products so if you don't believe
11:12
in your own product who else would
11:13
believe in you
11:17
that your product works but make sure
11:20
that when you create your product it has
11:23
to be
11:24
something that's very unique that your
11:28
competitor cannot copy so what makes an
11:32
Enterprise successful only one recipe
11:35
something that they cannot imitate
11:39
if your business can be something that
11:42
can be imitated
11:45
you'll have a let go of competitors in
11:48
maybe an hour's time after you launch it
11:51
on social media but if the core of your
11:55
business is something that is unique to
11:58
you and nobody knows it
12:00
then by all means go ahead have the
12:05
confidence and advocate for your product
12:08
next
12:11
team building okay now pay particular
12:14
attention success
12:16
[Music]
12:17
the success of any Enterprise and the
12:21
success of an entrepreneur is spelled as
12:24
t-e-a-m team okay no man is an island
12:28
okay even if you are the primary
12:33
decision maker creator thinker marketer
12:38
and advocate of your product you have to
12:42
be able to build a well-rounded team to
12:46
complement your abilities
12:49
to correct your weaknesses and to add to
12:52
your strengths some people would
12:55
consider political power as part of
12:59
their team building strategy for an
13:02
Enterprise that could be good but once
13:04
again
13:05
without a an excellent Prada
13:09
your
13:11
connection power or political power
13:16
cannot last long
13:18
so what withstands Market forces would
13:23
be an excellent
13:25
unique well thought out product
13:29
that you can simply put there side by
13:33
side with any competition and they can
13:36
withstand Market competition because of
13:40
a unique feature so think about what
13:43
makes your product unique
13:44
so if you want to be a successful
13:46
entrepreneur
13:48
next risk tolerance okay so you have to
13:52
learn how to manage and balance risks
13:54
and rewards learn how to minimize
13:56
failures now remember failure is not the
14:01
opposite of success failure is a part of
14:04
success and it's the job of the
14:06
entrepreneur to implement strategies to
14:10
minimize the risk like for example
14:13
some of the risks that we have here in
14:17
our country could be
14:21
disasters
14:22
so if you are a startup entrepreneur
14:25
with limited Capital you earn a lot of
14:27
money and then some people would usually
14:30
have this idea and a Biblical building
14:37
earthquake insurance
14:43
you did not minimize your risk
14:48
why buy when you can rent okay now that
14:53
leaves you thinking applicable
14:58
why buy when you can rent no I'm not
15:01
saying that okay just for you to
15:03
remember that Mantra in order to
15:05
decrease the risk you have to know how
15:09
to minimize the risk okay next
15:15
okay comfort with failure now prepare
15:19
for and be comfortable with failures
15:22
I've been saying a while back failure is
15:25
at the opposite of success failure is
15:28
always a part of success so if you want
15:30
to be successful you double your failure
15:33
rate but some people because they keep
15:37
on failing they don't know
15:40
how to cope with failure
15:43
okay they cope with failure by
15:47
scratching everything and venturing into
15:49
a new thing in which they will fail
15:51
again you don't do that you have to
15:53
build on your previous failures to
15:56
create a successful
16:00
products
16:05
not until you put that in the market you
16:09
would not know how people would respond
16:11
to it so keep moving move straight ahead
16:16
next
16:17
persistence
16:19
um be willing to learn from your
16:21
mistakes and then
16:23
be optimistic try to see your missed
16:26
steps as opportunities to learn and grow
16:28
you don't say I failed you say I learn
16:32
okay and then number 10 Innovation so
16:36
you have to know what is existing in the
16:39
market how can you improve on the
16:41
products and services and then create a
16:44
brand out of it and finally long-term
16:48
Focus remember
16:49
entrepreneurship is a long-term Endeavor
16:52
it is not something that is for
16:57
someone who has a very narrow idea of
17:00
what they want to achieve so an
17:02
entrepreneur would always continuously
17:05
grow and sustain the Enterprise and
17:08
sometimes this this requires a lot of
17:10
work it takes a toll on their energy it
17:13
takes a toll on their relationships but
17:15
that's how they are okay now
17:20
let's put a little Filipino flavor on
17:24
this entrepreneurial
17:27
characteristics Okay so
17:30
can we race would-be entrepreneurs
17:33
here's what Joya backing through our go
17:37
negotia Publications have to say the
17:39
eight simple secrets to raising
17:41
entrepreneurs according to Joy one is
17:44
knowing thyself all children are smart
17:48
there's no such thing as
17:51
idiot or the job of the parents
17:55
and the teacher is to work on the
17:56
strengths of the children look our
17:58
national hero Jose Rizal his first
18:01
picture was his mother okay now if you
18:05
are very very fond of animals and you've
18:09
came across the YouTube channel of big
18:13
boss bully pH okay this guy
18:17
I passionate about dogs okay
18:21
[Music]
18:23
and then because of his interest in dogs
18:29
came up with his own
18:31
Pet Shop eventually and now you know
18:37
business yeah okay
18:43
okay and he's offering different
18:45
Services now for
18:48
dogs so therefore you can turn your
18:52
passion into an entrepreneurial venture
18:55
first things first
18:58
you have to know what your passion is
19:00
and make sure
19:04
you actually fulfill or pursue your
19:07
passion based on your absolute truth
19:10
okay okay next attitude develop the
19:14
condo mindset look Ricky Reyes wanted to
19:17
become a hairdresser at age 13. and even
19:21
if
19:22
um they are so poor that he cannot
19:24
afford to go to school
19:26
he persevered and now he's a successful
19:29
entrepreneur okay being the president
19:32
and CEO of the Ricky Reyes chain of
19:36
salons okay
19:38
okay that's the winning attitude next
19:41
entrepreneurial mind you have to have a
19:44
vision I keep telling you this in part
19:45
one you begin with a vision what do you
19:48
want to achieve you should have a clear
19:51
idea of where you want to go that's
19:53
according to marixi trieto CEO of the
19:56
Philippine daily Inquirer okay because
19:58
your vision provides you with a sense of
20:02
direction okay next
20:05
money smart okay remember our
20:10
blind item a while back teach children
20:13
how to spend wisely and how to earn
20:15
honestly now in Japan initially help out
20:19
in their family business by Manning the
20:21
cash registry okay
20:30
and that is reflective in everything
20:32
that he does okay Hindi
20:38
splurgeon entrepreneurs
20:42
savings
20:56
okay
20:58
entrepreneurs
21:08
for that engagement and you know as long
21:11
as you are comfortable that's perfectly
21:13
fine the members have been saying
21:19
it depends on what remains after your
21:23
spending mentorship now we are all
21:26
Learners and our parents can be our
21:28
mentors look at the sea family so when
21:30
Henry C passed away
21:32
the children
21:33
have to take charge and that's how it
21:36
should be okay
21:37
[Music]
21:38
on my end my mom was really my mentor
21:42
and up to now
21:44
lesson second
21:46
I live with all of this I live by all
21:50
reminders
21:57
and everything follows don't mind what
22:01
people are saying
22:04
because
22:06
your core or your essence as a person is
22:11
more important than the perception of
22:14
the people around you so at the end of
22:17
the day you have to go back to your core
22:19
what defines you as a person and that's
22:23
where you should strive to thrive okay
22:26
work ethics Foster respect in the work
22:29
area now
22:31
who owns Jollibee and I am formerly when
22:35
I was a student in college a crew of
22:38
Jollibee everyone in Jollibee from the
22:40
CEO to store's kitchen crew respectfully
22:42
at the rich other as Sir or mom so which
22:46
simply means you have to have set
22:50
standards on how you will work your way
22:52
to the top and that begins with yourself
22:55
and your co-workers starting a business
22:58
the heart of the business is to begin
23:01
with yourself the question is how first
23:03
and foremost I'd like to share with you
23:06
um
23:06
the results of a survey that we did in
23:10
one of our companies and my question is
23:12
how do you put a heart in what you do
23:14
and this has been collated by professor
23:18
okay so I call her mommy Che okay and
23:23
Mom cherry and Durante was recently okay
23:27
awarded the young investigator award in
23:31
Asia and she won representing the
23:34
Philippines of course I'm asking Sean
23:36
hacking research body and partner
23:40
research okay and this is what came out
23:44
of
23:46
what we did in that survey how do you
23:48
put a heart in what you do first
23:50
interact and connect do that to your
23:53
customer make sure they know you need
23:57
Based Teaching know their failed needs
24:01
which simply means
24:06
if it doesn't
24:08
meet a need of the customer and then
24:11
share past struggles and success
24:16
they want to see and hear stories of
24:21
failure and how people Rose above their
24:23
failures then personalize their
24:25
experience there should be something
24:28
more than the usual that they're getting
24:30
from others and then incorporate
24:33
authenticity that's what I'm trying to
24:35
say you have to base your actions on
24:38
your absolute truth
24:41
then respect the limitations of your
24:44
customers then encourage before during
24:47
and after the lesson so that forms the
24:50
mnemonic Inspire once again interact and
24:53
connect need-based teaching know their
24:56
needs share past struggles and success
24:58
personalize their experience incorporate
25:01
authenticity respect their limitations
25:03
and encourage before during and after
25:06
the lesson that's a quick survey that
25:10
was presented in one of our monthly
25:13
meetings and of course number eight
25:16
making a difference a business is not
25:20
just about making money that's not the
25:22
primary motivation of an entrepreneur it
25:24
is about helping people through
25:26
innovative solutions it is about
25:28
inspiring them influencing them and
25:32
making them believe that they too have
25:35
their
25:37
entrepreneurial traits inside themselves
25:40
and your job as a mentor is to bring it
25:44
out so they can use it properly so this
25:48
is the end of part two thank you and
25:52
this is regapolis once again saying
25:55
maranin salamat and see you in our part
25:59
three
26:01
foreign

PART 7

good day fellow Learners this is once

0:05
again your Mentor Ray gapos joining you
0:07
on the part three for our teaching and
0:11
learning session on the concept
0:14
entrepreneurial behavior and personality
0:16
or entrepreneurial personality and
0:19
behavior okay so let's begin this time
0:23
we're going to talk about skills and
0:26
competencies of an entrepreneur and will
0:30
actually have these objectives that
0:33
would serve as our guide in the
0:36
direction of our discussions today
0:40
so what are the seven skills of
0:43
innovative entrepreneurs
0:45
first and foremost would be basic
0:48
Financial skills
0:53
and there's several things that you need
0:56
to focus on as an entrepreneur first you
0:59
have your you have to know how to read
1:02
and prepare your balance sheet so your
1:05
balance sheet actually shows how the
1:08
business is performing in a general
1:11
sense so it it actually helps you
1:14
decipher the assets the liabilities
1:18
including the equity of the owner and
1:21
the shareholders when say Equity it's
1:23
the value of the shares especially of
1:26
the investors okay so income statement
1:30
um would actually give you in a nutshell
1:32
an idea of how much the company is
1:35
earning cash flow will give you an idea
1:37
of how much the company is spending from
1:42
the cash that it receives and then the
1:44
statement of the owner's equity it
1:47
details via changes in the equity held
1:50
by the shareholders depending on the
1:52
performance of the company so
1:58
how is the company doing at this point
2:01
in time so basic
2:04
to the entrepreneur should be your
2:07
ability to prep to read and prepare your
2:12
finances okay next networking
2:17
as a beginning entrepreneur you can
2:20
initially
2:21
make a list of the people who you want
2:26
to introduce your products to some
2:28
people would say
2:34
when I started my developing my
2:38
entrepreneurial skills
2:41
where it has all sorts of manga you know
2:46
like condiments
2:48
spices vinegar Toyo because
2:52
um
3:01
[Music]
3:04
so that small little cabinet paved the
3:08
way for me to eventually learn the ropes
3:11
of how to approach potential clients of
3:14
course that begin with family members
3:16
then when I became an entrepreneur I
3:19
have to get in touch with industry
3:20
leaders alumni from educational
3:22
institutions and of course
3:28
solicitor general okay
3:32
okay solicitations of course is is part
3:36
of it so if you want to do a little PR
3:39
just make sure that you are not spending
3:42
all your budget for marketing just for
3:47
um solicitation purposes which simply
3:49
means you are just pleasing one two or
3:52
three people you're giving so much and
3:54
it's not yielding you the return of
3:57
investment in terms of product exposure
3:59
that you need
4:01
three the ability to accept and act on
4:03
feedback now this skill requires you to
4:07
be very very humble why only a humble
4:11
person
4:13
is able to listen to the feedback
4:19
of the customers and after listening
4:21
then you reflect on it so first and
4:25
foremost if you want to be successful at
4:28
accepting and acting on the feedback of
4:31
customers you first have to put the
4:35
truth ahead of your passion even if
4:38
you're so passionate about your business
4:44
is it being accepted by your customers
4:47
don't say oh my product is excellent
4:50
they don't want to use it because these
4:52
people are idiot you don't do that okay
4:54
you first have to learn how to listen to
4:57
your customers find out why despite your
5:02
perceived Excellence of your product are
5:05
they not using it okay next
5:09
pattern recognition so you are supposed
5:12
to be able to monitor market trends as
5:16
well as user behavior and when you come
5:18
up with new product you actually
5:21
um would test it first internally and
5:23
you call that Alpha Testing so you allow
5:26
some people to uh
5:28
use your product initially I've seen
5:30
this in one very famous Dermatology
5:33
Clinic so after the formulation of the
5:35
dermatologist of a whitening treatment
5:38
they first try it on the staff of the
5:42
clinic okay that's what we call Alpha
5:44
Testing and then better testing would be
5:47
um through external users if you want to
5:50
find out about the sentiments of your
5:53
would-be target market now if you know
5:56
how to identify market trends and user
6:00
Behavior then that will make you um
6:03
very very ahead of the competition why
6:07
because with that you can strategize
6:10
based on uh the presence of emerging
6:14
competitors in the industry and once you
6:17
are able to come up with a good strategy
6:19
that will make you lead the pack in
6:23
terms of
6:25
um offering your product okay strategic
6:28
thinking when you say strategic thinking
6:30
you need your analytical skills which
6:33
simply means you have to have a
6:35
knowledge of the market conditions
6:37
emerging business okay yeah internal
6:40
resource allocation
6:42
strengths weaknesses communication
6:45
skills which is very very important
6:46
there's one important thing that we use
6:49
in nursing that you can use in in your
6:51
business I modified it uh on our end uh
6:55
remember sbar communication situation
6:57
background assessment recommendation in
7:00
our office we just use SBR situation you
7:03
have to describe what happened
7:04
background so provide information and
7:08
then a recommendation what is the
7:12
solution from your own perspective so
7:15
having that format facilitates
7:18
communication the office
7:21
hi good morning rhetorics
7:27
that's a waste of time so in the office
7:29
we use SBR method and then problem
7:33
solving skills okay you have to have
7:38
strategic planning abilities which
7:41
simply means you have to know how to
7:43
interpret the data that are being served
7:47
to you in terms of for example
7:50
misfinancial targets inefficient
7:52
workflows or presence of a lot of
7:55
emerging competition in the market you
7:57
have to be able to take this into
7:59
consideration to position yourself
8:01
properly in the market and then planning
8:04
and management skills you have to learn
8:07
how to think
8:08
don't focus on what should you think
8:10
about learn how to think plan and then
8:14
have that plan flexible enough because
8:17
we know for a fact that the business
8:18
climate is not fixed it's it's
8:22
constantly changing and so
8:26
managing change requires a lot of
8:29
planning and management skills number
8:32
six negotiation so the first like your
8:34
nurse patient relationship the first
8:36
step for before engaging in negotiations
8:39
to build trust once again
8:41
it's going to be easy for you to
8:43
negotiate if you have proven to your
8:47
client that your product works
8:50
no amount of black propaganda can topple
8:53
you down not even sour graping previous
8:57
employees and competitors can topple you
9:01
down if your product works
9:04
so at the end of it all it's about
9:07
having the product that works no amount
9:12
of marketing can make you successful so
9:16
you have to know how one very famous
9:19
Dermatology Clinic ventured into
9:22
uh beauty products and then eventually
9:24
have the beauty products being
9:28
um on a special offer website why
9:31
because if you're gonna read the
9:33
feedback of people who use this they
9:35
would say oh
9:40
um
9:41
you see at the end of the day it's how
9:46
the
9:47
you sir
9:49
would react to your product that's why I
9:52
am not a believer of multi-level
9:54
marketing because my idiosyncrasies
10:02
what if
10:13
so would you want to have a package when
10:17
you have your proven choices that has
10:21
worked in the past
10:22
if it if it ain't broke then why fix
10:27
okay so a lot of multi-level marketing
10:30
don't last that long because they reach
10:31
their saturation point and then they
10:33
don't know what to do next so if you are
10:36
one of those who are giving
10:39
um false reassurance that this work for
10:41
you and it will work for your friend too
10:43
I don't think that's a good business
10:45
model at the end of it all the product
10:47
should speak for itself okay now find
10:50
Uncommon Ground instead of initially
10:53
finding some commonalities between you
10:56
and a potential customer find something
10:59
that will make you curious about the
11:02
person something uncommon on your end
11:04
and on the client's end so that you have
11:07
the opportunity to talk about these
11:09
things that you are not familiar with on
11:13
on both of your sides and then
11:16
talk about it and then be agile what
11:19
does that mean you have to move as fast
11:21
as you can when you are introducing a
11:24
product so you have to know how to
11:27
saturate the market when you need to
11:29
remember
11:31
um
11:32
time is of the essence when you have a
11:35
product and the most important thing
11:37
that you have to remember is every
11:42
minute counts and each of those minute
11:45
that you lose
11:47
is a deduction to your potential Revenue
11:51
so remember to be agile
11:54
seven growth mindset now pay particular
11:56
attention to the fact that
11:59
um running a business is not just having
12:02
the intelligence the abilities or the
12:05
talent okay because an Enterprise is
12:08
never static the market is never static
12:11
so you have to learn how to be flexible
12:14
you have to learn how to improve on your
12:17
product you have to learn how to look
12:19
for opportunities to venture into new
12:22
things okay and okay with that let's now
12:27
summarize the entrepreneurial behavior
12:30
and personality using the 10ds of an
12:35
entrepreneur and let me put a little
12:38
Filipino flavor to it by integrating
12:42
some anecdotes from among those whom I
12:46
rub elbows with in our business group
12:48
The gonig also group under the
12:50
Philippine Center for entrepreneurship
12:53
which has been previously attached to
12:56
the Office of the President so let's
12:58
begin
12:59
okay the first day every entrepreneur
13:02
should have a dream
13:04
it's a dream
13:06
and for you to turn the dream into
13:08
reality you have to have a vision
13:11
remember
13:14
at age 13 he knows what he wants he
13:17
wanted to be a hairdresser and he
13:21
envisioned himself as a professional
13:23
hairdresser
13:31
okay and that started with having a
13:36
Clear Vision next of course
13:44
in the Agora award for entrepreneurship
13:47
well previous Awards or Ben Shan Henry C
13:51
uh John gocom way okay and yours truly
13:55
being the first nurse entrepreneur to be
13:57
awarded that recognition decisiveness
14:00
Swift decision making don't
14:02
procrastinate now what's inspiring with
14:04
lesser is is
14:06
foreign
14:12
but he is running a salon business
14:15
remember
14:19
why because he he has that ability to
14:24
decide whenever opportunities present
14:28
themselves in front of him he doesn't
14:31
procrastinate okay there was even a time
14:34
that he has Reyes haircutters in New
14:37
York okay
14:39
next doers Implement one's course of
14:42
action as quickly as possible remember
14:46
okay
14:47
[Music]
14:48
um
14:50
the doers are people who act as fast as
14:55
they can okay at an example
14:58
a group of entrepreneurs
15:08
branches okay because they saw the need
15:13
for it okay so example
15:16
Enterprises branches like for example of
15:20
India okay for determination you have to
15:25
be totally committed okay they seldom
15:28
give up even in the face of
15:29
insurmountable obstacles
15:32
um
15:35
if you would watch some of her
15:38
interviews lately she said that she has
15:42
been diagnosed with stage three breast
15:44
cancer and was in fact
15:46
given two years to live
15:49
but if you would notice she's still all
15:52
over the place acting as a marketing
15:55
advocate for Bello Medical Group she
15:58
never stopped that's determination okay
16:04
of National Bookstore
16:08
Sabina
16:11
if you're an entrepreneur there's no day
16:14
off you have to be willing to work
16:17
tirelessly 24 7. you should be on top of
16:22
your Enterprise
16:25
six of course my former boss Tony tan
16:29
captain of Jollibee
16:31
the 6D is devotion entrepreneurs love
16:35
what they do so I've been saying a while
16:37
back find your passion turn it into a
16:39
business because if your passion is your
16:42
business you are not working not a
16:44
single second of your life because
16:45
you're doing what you love to do so
16:48
loving what they do makes them sell
16:50
their product or service more
16:52
effectively because it's coming from the
16:55
heart seven of course details
16:59
Marquis Fuso in the world on top of the
17:02
critical details of the business
17:05
attorney goes on Philippi goes on of
17:08
gma7 always looks at the figures ratings
17:12
and programs okay
17:16
because at the end of the day that's
17:18
when you get a feedback coming from the
17:21
valley viewers
17:23
Max of course
17:25
why because they used to operate a
17:29
bakery Jan look or a French Baker
17:31
eventually
17:35
and then when he decided to level up
17:38
their business
17:43
so French Baker
17:46
also teaches business administrations
17:49
so very very educated and mostly awarded
17:53
entrepreneur so he's one person who
17:56
created his own destiny
17:58
then of course Dallas
18:02
one of the richest okay politicians
18:06
we've ever had and it's actually now the
18:09
richest Filipino and he's actually in
18:14
Forbes magazines list of
18:18
richest people in the world
18:20
so Hindi language
18:23
okay remember
18:26
entrepreneurs don't consider money
18:29
as the main motivation entrepreneurs
18:33
assume that they will be rewarded with
18:36
money
18:36
if they become successful so don't chase
18:40
for the greenbacks don't chase the
18:42
dollars it will come to you when the
18:45
universe reward you for a job well done
18:49
and of course Young
18:57
[Music]
19:01
now skincare
19:04
and he's not a doctor so he is
19:08
a person who has a very
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entrepreneurial mindset okay so one
19:16
thing I admire with Ben Chan is they're
19:19
open to franchising or duplicating the
19:21
business that they have they distribute
19:23
ownership of their business with
19:25
employees who are critical to the
19:26
success of their business so don't turn
19:28
your employees as just employees forever
19:31
when you become successful
19:33
share your blessings turn them into your
19:36
partners so with that this is the end of
19:41
part three and I hope you were able to
19:45
get a good grasp of what we hope to
19:47
achieve for this third part of the video
19:51
once again this is your manta ray saying
19:54
thank you for joining me in this lesson