Entrepreneurship Mind Setting A presentation of MR WINSTON

Entrepreneurship Mind Setting A presentation of MR. WINSTON T. SINGUN, Division Chief, DTI-Cagayan

WW 2 BAM WW 2 BAB

The Power of Entrepreneurship

4 options to get ahead 1. HOPE for help 2. EXPECT government support 3. GET a job 4. START something yourself

The ENTREPRENEUR en·tre·pre·neur ˌ/äntrəprəˈnər/

Our common understanding n The boss n The business owner n The risk taker n One who starts a small business n The resourceful guy?

Understanding Entrepreneurial Competencies SELF CONFIDENCE PERSUASION AND NETWORKING INFORMATION SEEKING 10 1 2 9 PERSISTENCE 3 8 4 7 SYSTEMATIC PLANNING AND MONITORING OPPORTUNITY SEEKING 6 DEMAND FOR QUALITY AND EFFICIENCY 5 RISK TAKING GOAL SETTING Personal Entrepreneurial Competencies Mc. Bear Associates COMMITMENT TO WORK CONTRACT

ENTREPRENEURS vs. WANTrepreneurs • ENTREPRENEURS IS A NAME FOR PEOPLE WHO START BUSINESSES • WANTrepreneurs are people with a lot of business IDEAS

WANTrepreneurs • Lots of business IDEAS, but their: – QUESTIONS – BACKGROUND – ISOLATION – FEAR of FAILURE STOP them!

Compelling Reasons Why We Need Entrepreneurs n n 90% of the world’s jobs are created by entrepreneurs Source of new products and innovation In the third-world countries, the entrepreneurs keep the sagging economies alive It’s the entrepreneurs – not the central bank – that keep the economy moving.

What entrepreneurs do: • • SELL DELIVER MAKE INVENT BUILD GROW MAKE THE WORLD A BETTER PLACE

As businesses grow, they • • HIRE people BUY products BUY supplies ADD customers

That’s how they • • • CHANGE their lives HELP their families IMPROVE communities CREATE new markets DEVELOP countries, and CHANGE the world

We Should All Become Entrepreneurs: It's A Mindset, Not A Business Model

…and speaking of MINDSET

We can help you embrace the right and positive entrepreneurial attitude that will carry you through your vibrant entrepreneurial journey. With DTI’s Negosyo Center seminars, the SME Roving Academy (SMERA) and the Kapatid Mentor ME (KMME) program, we infuse an entrepreneurial mindset that is success- and innovation-driven, collaborative, and proactive.

At our Negosyo Centers, we teach you to master the know-how & how-tos of entrepreneurship, from what you need to set up a business, basic rules of spotting market opportunities, finding your product positioning and differentiation, product development, market development, basic business finance and plan preparation, as well as developing a system for continuous innovation.

We provide you with continuous business guidance in partnership with the private sector members like Go Negosyo, Philippine Chamber of Commerce & Industry, Philippine Franchise Association, Association of Filipino Franchisers, Inc. , and Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. , thanks to programs like Kapatid Mentor ME. Experience coaching and mentoring of industry experts and large corporations on dierent aspects of business operations for free!

We give you access to funding through DTI’s Pondo sa Pagbabago at Pag-asenso (P 3) micronance program —in cooperation with SB Corp. — or connect you to micro finance institutions (MFIs) to help you out with financing, whether you’re setting up a business or if you want to expand

We equip you not only with the musthave knowledge on equipment and right tools to ensure quality production under the Shared Service Facilities (SSF) project, you can also use these to level up your production and increase productivity. With innovation, you and your fellow entrepreneurs can produce more products more efficiently.

We help you promote your products through provincial and national trade fairs, OTOP (One-Town, One Product) shows, Go Lokal! retail store concepts in major malls, and the internationallyrecognized FAME exhibits. We can also link your business to big companies or to government so that you can supply them with your products on a continued basis

We give you different business ideas to help you get into business, from traditional enterprises to direct selling and franchising. We also teach you livelihood skills like baking, soapmaking, etc. At our Negosyo Centers, there’s more than one way to do business. MSMEs need to have ties with bigger guys to create synergies, which are essential in matching and innovating products and services

…back to Mind Setting

Grameen Bank

Entrepreneurial Mindset • Entrepreneurial mindset refers to a specific state of mind which orientates human conduct towards entrepreneurial activities and outcomes. Individuals with entrepreneurial mindsets are often drawn to opportunities, innovation and new value creation.

“a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced. ” Jeffrey Timmons

Anatomy of the Entrepreneur The Entrepreneurial Mind Frame The Entrepreneurial Heart Flame The Entrepreneurial Gut Game

Mind Set of an Entrepreneur • • Anticipate failure Let go and delegate Stay curious, learn new skills Follow your instincts

The Entrepreneurial Mind • “Only a warrior can handle the road to become unbeatable. His life is a challenge, and challenges are not good or bad. They’re simply challenges. ” Samurai Proverb

Drop the employee Embrace Entrepreneurship MINDSET 1. Become Your Own Boss and Your Own Servant 2. Create a Roadmap… But Adjust as Needed 3. Get Comfortable with the Uncomfortable 4. Don’t Get Too Attached to Failure or Success 5. Feed Your Creative Juices 6. Invest in Yourself and Treat Your Time as Money 7. Believe in Yourself, But Also Do Your Homework

Which one are you? Employee Mindset Entrepreneur Mindset • thinks about the work as the business • knows the business supports the work

Which one are you? Employee Mindset Entrepreneur Mindset • supports a solid structure as foundation al to the business • sees a fluid process as core to the business

Which one are you? Employee Mindset Entrepreneur Mindset • is a doer first • is a planner first

Which one are you? Employee Mindset Entrepreneur Mindset • sees “business controls and necessities” as other people’s • uses “business controls and necessities, ” to track and manage the work

Which one are you? Employee Mindset Entrepreneur Mindset • focuses on what is his or her responsibi lity • focuses on interconn ected responsibi lities

Here’s to the crazy ones “Here’s to the crazy ones. The rebels. The troublemakers. The ones who see things differently. While some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do. “STEVE JOBS

“I really want to clear my life to make it so that I have to make as few decisions as possible about anything except how to best serve this community, ”- Zuckerberg “I’m trying to pare down decisions. I don’t want to make decisions about what I’m eating or wearing. Because I have too many other decisions to make. ” - Obama

Most Valuable Possession Reputation

A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well. Jeff Bezos

Agyamanak, Apo! Mabbalo