by Alex Roldan
With the persistent problem of joblessness and underemployment, most of our young generation is looking outward to other countries for the proverbial greener pasture. However, there have been efforts these past years that encourage them to look inward instead, for opportunities that are within the country by getting aboard the entrepreneurship bandwagon.
I bet many will agree that if given the chance, they would engage in business as a means to alleviate their condition or pursue their dreams of a good life. This is very natural, as everyone dreams of enjoying life to the fullest which by current standards needs substantial resources which everybody understands–money, and business entrepreneurship promise just that.
But why is it that despite its potentials and promise, many insist on looking for an easier way to work abroad instead of engaging in business in their own contry? Is financial capital really the problem? Or, are many simply afraid of the possibility of failure?
Technically, learning business strategies, marketing, product development and management is not difficult as these are accessible and can be learned. Capital can be generated in many ways as long as you are serious to start your own business.
I find this discussion essential because I believe that developing entrepreneurship skills among the younger generation will enable them to earn a decent livelihood should they leave a job or are unable to find one. This is what the direction of our country should be, and be pursued with vigor if we want to address the issue of rising unemployment.
There are contentions and even studies to show that one of the major causes of poverty is business failure, often due to lack of expertise. Though I totally agree with that, but I believe that the main cause of any business failure can be attributed to the person who would want to become an entrepreneur.
As for the basics of entrepreneurship which have to do with starting, financing, and managing small businesses, I am convinced that the biggest obstacle is in the starting phase. Meaning, the decision process and the innate attributes of the person should be developed before making the final decision to proceed.
I do not want to go into the technicalities of managing and raising the capital. I would rather go direct to the most basic and essential before one should decide to pursue the path of becoming an entrepreneur. Here are some principles that one may find useful.
Central to entrepreneurship before anything else, should be the joy of doing business. If you enjoy being in business then you have the potential. It is easier to learn the other aspects of business if you find pleasure in making profit by offering goods or services to the public.
Another important quality before deciding to start a business is patience. I see this as an important ingredient for success for would-be young entrepreneurs – the ability to wait for gratification, to save money and plan ahead in order to control future time. Goal setting of the transition of your preferred business and preparing yourself on what to do now to make your goals come true should be laid ahead of time. You should be committed to a very important skill in entrepreneurship that like all business, it is about investing, ideas, money, and time in the present to reap benefits in the future.
But don’t ever forget reality, that even if you enjoye it, or how neatly planned, business ventures do not work out fine all the time. Business success or failure will not be a reflection of your self-worth. Be prepared for setbacks. Get experience in your preferred field before deciding to proceed.
Don’t be greedy, you must learn self-control as uncontrolled growth can lead to mistakes and ultimately failure.
Finally, commitment to the everlasting tenets of “do unto others what you would want others to do unto you,” is a very important motto that an entrepreneur should have if he wants to succeed. Technologies can only do so much for your business. It is still operated by people and businesses are built for no other but for people. Treating others, particularly your employees, as you would have them treat you will help you achieve success in life, both personal and financial.
So, before looking outward to search for a better future, why not explore first your inner-self. Who knows that you probably have the gift necessary to become a successful entrepreneur.
For comments, e-mail to: roldanlex@yahoo.com
