Hi guys! This blog was created for the purpose of educating Filipinos about entrepreneurship. Entrepreneurship is an underestimated and often avoided topic.
Most Filipinos would rather talk about politics, social networking sites, current events, fashion trends, and the latest gadgets in daily conversations. Truth be told, Filipinos are capable of being the best entrepreneurs in Asia! Maybe even in the whole world!
The Filipino mindset
But why do Filipinos shove away the idea of becoming an entrepreneur? Simple, income security. Since we all live in a third-world country we all know how valuable money is in our daily lives. We need money to eat, to go from one place to another, to use our cellphones, to access the internet and even drinking water costs money. More than three-quarters of our population have financial problems and money is too valuable for them to put at risk. Yes, risk. We often associate entrepreneurship and business with risk. But successful entrepreneurs prove otherwise.
A risk or not?
This is why most Filipinos would prefer to get a stable income by working as an employee. Even today, employees are paid at minimum wage and rather than "risking" their money in business Filipinos would use their money for necessities and wants. In my previous experiences and those of successful entrepreneurs, business does not equate to risk. Risk is greatly reduced by studying the industry of your business, your target market and your product/service. The more you know, the less risk you have.
Why entrepreneurship? Well, there are a lot of reasons and I believe you would enjoy the benefits if you want to be an entrepreneur. I will explain further the basic terms and principles used in business and entrepreneurship and also write guides on how to be an entrepreneur and be part of the country's most successful entrepreneurs in this blog.
Keep in touch!
Terms and definitions
Entrepreneurship - The process of generating an idea and turning that idea into a profitable business.
Industry - Group of business that have related products and services.
Target market - Group of people you are trying to sell your product to.
Target market - Group of people you are trying to sell your product to.
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