Republic of the Philippines TARLAC STATE UNIVERSITY Tarlac CitySuccess & Failure ofFilipino Entrepreneurs EDUARDO A. PANTIG JR. MAEd - TLE
Success of filipino entrepreneurs1.They all loved what they are doing These Filipino entrepreneurs all enjoyedwhat they were doing. They never did anythingthey hated or anything they didn’t want to do.
Success of filipino entrepreneurs2. Clear Knowledge about the Field It will likely be easy to start a business which is inline with one’s passion, expertise, and knowledge.
Success of filipino entrepreneurs3. Common Sense is literally taken as the capability to createrational judgments on certain issues. Being confrontedwith the harsh realities of life, Filipino entrepreneurscredit their sound judgment to their previousexperiences and gained or stock knowledge.
Success of filipino entrepreneurs4. Self Confidence Being confident allows a person to face theeveryday challenges heaped upon him.
Success of filipino entrepreneurs 5. Getting Things Done, Hardworking & Persistent Once a thing has been planned to be startedwith, it must be done and finished all the way down.
Success of filipino entrepreneurs6. Being Creative Create worthy items out of trash. Filipinoentrepreneurs are creative in devising methodsin line with marketing and managing theircompanies.
Success of filipino entrepreneurs7. Leadership Skills You must have the ability to influencepeople and lead them into action.
Success of filipino entrepreneurs8. Self Reliance Filipinos may tend to be overconfident asothers perceive them to be. But as the famousFilipino entrepreneurs turn out to be, they areable to take full responsibility of their actions.
FAILURE of filipino entrepreneurs1.No Written Plan Don’t believe the myth that a business plan isn’tworth the effort. The discipline of writing down a plan isthe best way to make sure you actually understandhow to transform your idea into a business.
FAILURE of filipino entrepreneurs 2. They start a business for the wrong reason They do it because they are excited about theopportunity of making lots of money, instead of startinga business based on who they are and aligning thebusiness with their passion.
FAILURE of filipino entrepreneurs 3. Not having enough Dedicated People They should be dedicated for the successof the project. An entrepreneur usually hirepeople. Many times it is difficult to find suchdedicated people.
FAILURE of filipino entrepreneurs4. Giving in Too Early the most common cause of startup failureis the entrepreneur just gets tired, gives up andshuts down the company.
FAILURE of filipino entrepreneurs 5. Not Listening to Customer Feedback and Complaints When genuine customer feedback isignored, product improvement suffers. If productsuffers, sales suffer.
FAILURE of filipino entrepreneurs 6. They don’t understand andunderestimate the Power of Marketing You may be good, your product may bespectacular, but you will stay broke and yourproduct won’t sell unless you have a ridiculousand relentless marketing plan.
FAILURE of filipino entrepreneurs7. Product Positioning is Wrong it might be difficult to sell a product that isplaced in an already crowded market without anydifferentiation. In a crowded market, moreadvertisement is needed to make the product stand outfrom competitors.
FAILURE of filipino entrepreneurs 8. They don’t have enough come-up capital They ran out of come-up capital to keep it going.They assumed that customers would just run to theirdoors dying to buy their products. You must test yourbusiness idea first on a small scale.