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CHAPTER I

THE PROBLEM AND ITS BACKGROUD

This chapter is a detailed presentation of the rationale of the

study, statement of the problem, scope and delimitation and

significance of the study.

Introduction

Nowadays, the mindset of some people that if you have your

own business you are already rich and you don’t have to worry for

your financial needs, but they do not know that there’s have some

problems that an entrepreneur encountered. One of these problems

are lack of strategies that they need to employed on their self. Some

of them did not know what should they do and to come up with the

stress of failing business. They don’t have enough effort and thinking

skills to think what are the possible strategies that they can employed

to their self to became successful.

Entering a business is not a easy thing for all people that want to

start on the business world. We can’t avoid the possibility of upcoming

problems and hindrances. Every entrepreneurs have their own

strategies to achieve their goals. They employed their own strategies

to gained good benefits and success of their business. Their strategies

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applied on their own business to have a good result.

All of us want to be a successful entrepreneur in the near

future, because we believe that being successful only means learning

from those who have already achieved our goals. Everybody wants

to get in/ enter into a business. Especially those who are new

entrepreneurs. They got discouraged and lose their confidence, in

their first time in the business world, because they are lack on

knowledge and strategies that are mostly need to apply to their

selves. It is important to know these strategies for them to come up

and keep up to other entrepreneurs.

All of us can be an entrepreneur. We can create or think a

business easily, but its hard to maintain the network strategies that. It

is quite fashionable to be an entrepreneur. It is also important to the

economy but also in need to improve their strategies for the rival

business.

In life, you can’t produce you r business alone without the help

of others. If you are the owner you have to know the networking

strategy and it’s importance for the succeed of your business . A

network is a connections that connects you to different people and to

with other . Strategies look future at these risks and help develop

ways in which they can overcome these obstacles and have a

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successful business. It can also help to have a better and bigger

business.

Networking strategy is the one that can creates direction not

only on the entrepreneurs but also on the whole organization. It can

also help to make your business wise and will lead to the right way

so you can reach the success. A strategy can provide this vision and

prevent individuals from losing sight of their company’s aims. It also

help to improve the business performance of your work than other

company.

Always grab the golden opportunity that can help us to become

successful. We can ask help on the successful entrepreneur, they will

help us in terms of conducting a free seminars to teach us some

strategies. They will also teach us to have a strong desire to win or to

be the best at something in terms of business.

It is impossible to wake up that you are already successful. It is

because becoming a successful doesn’t happen by accident or by

chance. It is a long way process that involves challenges, learning

effective strategies, and quality of a good and effective entrepreneur

who wants to become a successful entrepreneur. This strategies can

help us to grow and to become more competitive in business to

achieve more success.

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According to ( Kubbur, 2019 ) a successful entrepreneur must

be able to make wise decisions about how he uses his time,

continually evaluating and prioritizing tasks according to relevance

and importance.

Every entrepreneurs believe that good things will happen in the

future because they are willing to take the risk for their recourses to

gain the profit and believe that it will success in the future. In addition,

they always update themselves everyday and get new information in

order to know what’s the customers’ needs. If they not updated on

the customers need they will be rejected or loss by the market for not

adapting the new strategies. This strategies can help to have a better

and can produce successful entrepreneur. Strategies can improve

learnings and knowledge in one business.

Entrepreneur has a big help not only on their self but also

on the society. Entrepreneurs are have the important role in

economic activity nowadays. This is because they know how to

handle a good business that can help the economy .They are able to

seek opportunities to profit by satisfying customers’ needs and enrich

people live. This opportunity can also help them to improve and to

have a better business.

According to ( Clark, 2016) most professionals build their

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network over time through proximity – people from your business

school study group, or colleagues from your current company or past

jobs. You may have a few outliers in the mix, but unless you’ve been

deliberate about your networking, the vast majority of people you

know probably work in the same field or industry as you. It may seem

innocuous, but that inadvertent myopia can put you at serious

professional risk.

Networking is every entrepreneur should practice or should

know. It is because networking is about connecting with people,

building and to care or give attention to your relationship for growing

and developing business, sharing information, and expanding your

contacts or connections. Networking is about connecting with people,

not collecting people, because networking is one of the process on how

to socialize and how to conduct a good relationship with people.

Networking is something every entrepreneur should practice, because

it is important for the starting business and important strategy to built

a successful business.

According to ( Spacey, 2016 ) entrepreneurial strategy is the

process of developing new products and approaches in a constrained

and competitive environment. Entrepreneurs are individuals who are

willing to take on risk to create something new. As such,

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entrepreneurial strategies encompass techniques for innovation and

running a business including all aspects of marketing and operations.

According to ( Lew, 2015 ) the success of entrepreneurship can

be gauged by how much rule-creating or rule-changing is involved. By

this measure, some early pioneers in internet search were successful

entrepreneurial ventures, in spite of the fact that Google retains the

crown having fulfilled the GEM, innovation and scale criteria. These

early pioneers affected a path dependence and set in motion the

increasing returns needed to allow the current slew of search engine

businesses to flourish.

Networking strategies has been find out as the most effective

search technique. Networking for entrepreneurs is simply a strategic

approach to have professional connections and contacts. But it's about

meeting someone and exchanging business cards to turned into a

business relationship. Realistically, your reasons for business

networking will shift the life of your company and your career as an

entrepreneur as will your networking strategies. As a small business

owner, you might want to network to publicize your product or service,

find a mentor or a successful entrepreneurs to establish yourself as an

expert within your field, seek investors for business financing, discover

opportunities to invest in other businesses.

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Networking strategy is the ability to give information, support,

and resources of a network to achieve results in another. Pushed to its

logical limit, the basis of this difference is that effective leaders are

highly dependent on others to get things done. The irony here is that

the individuals in your network, who are the lifeline for building up the

big picture, are also individuals who are likely to be outside of your

immediate control. While this may seem obvious, it is often difficult to

transition from a purely operational network to a strategic one, either

due to simple time constraints.

It is with these contents that the researchers decided to conduct

a study entitled, “Networking Strategies Employed by Successful

Entrepreneurs”.

The purpose of this research is to know what are the networking

strategies of successful entrepreneur. This research is conducted to

have further knowledge about networking strategies.

This study implementing approach to aspiring entrepreneurs to

achieve more positive business outcomes or how to grow a small

business. It can also help the aspiring entrepreneurs to know the

importance of business strategy.

Thus, it can help the new entrepreneur on how to apply

the strategies of the past successful entrepreneurs. Your reasons for

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business networking will shift during the life of your company

and your career as an entrepreneur as will your networking

strategies.

Statement of the Problem

This study aims to determine the different strategies employed

by successful entrepreneurs.

Specifically, it seeks to answer the following questions:

1. What are the different networking strategies employed by successful

entrepreneurs?

2. How do these strategies helped the entrepreneurs to become

successful?

3. Based on the findings what insights can be gained?

Scope and Delimitation of the Study

This research aims to determine the different strategies

employed by the successful entrepreneurs. This research also focused

on the factors that can help aspiring entrepreneurs to become

successful. It explain what are the importance of applying networking

strategies to become a successful entrepreneur.

However, this research had limitations.

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The researcher interviewed successful entrepreneurs to gather or

to learn their strategies to become successful.

Significance of the Study

In this paper we can gained some strategies use by the

successful entrepreneurs. The researchers wish to contribute in the

growing need of the study about the networking strategies employed

by the successful entrepreneurs, it is for student, aspirant

entrepreneurs, entrepreneurs and future researchers.

Specially, this study will focused on networking strategies that

can help new entrepreneur on the near future. The findings of this

research will benefit the following:

Students. It helps students to have an idea or knowledge on

how to become successful in life. They can get some advantage on this

study because the result may help them to learn something new with

the researchers.

Aspiring Entrepreneurs. They will benefit from this study in

the way that it can help the aspirants to learn something new and to

know the real purpose of effective networking strategies. It will be a

great advantage to the aspirants because this research will serve as a

reference in understanding the different networking strategies. They

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will able to take advantage on what they learned on this research.

Entrepreneurs. The entrepreneurs can also gain some benefits

on this study because it can help them to improve what they are

doing.

Future Researchers. The future researchers will also gain an

advantage through this study. It also serve as their guidance or

reference that may serve them as a building blocks to have a bigger

study.