Filipinos are Natural Entrepreneurs

Successful entrepreneurs are not a businessmen; as most people would think so. Businessmen own several businesses which were not necessarily started by him but if it were, they would not be unique ideas. Businessmen are excellent at managing businesses.

Successful entrepreneurs, on the other hand, is a person who innovates or thinks of ideas and solutions to our everyday problems. These ideas are then turned into business ventures where an entrepreneur generates profit and at the same time solves an everyday problem in the society. The world's most successful entrepreneurs are the world's best problem-solvers.

Why entrepreneurship? Simply because we, successful entrepreneurs, can change the world for the better! That is why I chose to be an entrepreneur and right now I hope you make the right decision too.


We Filipinos are successful entrepreneurs


If you want to be an entrepreneur, it is not that complicated. We, Filipinos, are naturally inclined to be successful entrepreneurs. I am still amazed by how street vendors, who have little to no training to be an entrepreneur, are able to cope up with the consumer's demands. When I as a kid, the street vendors only sold fish balls, taho, kwek-kwek, isaw, dirty ice cream, mani such. (They still exist until now.)

In high school, I ran a baller band business with some of my classmates. You may remember those rubber wrist bands with different texts and colors? Well, we produced 1-inch versions of them. We ordered in bulk per design and it cost us like P30 a piece. But the market price was at P150. A P120 profit per baller! The industry rocketed sky-high for a whole year and we were able to earn ourselves a great profit. Then, we started seeing imitations of our designs in the street for only P50. Well, the street vendors started monopolizing the industry until it fell.

In college, there would be new products sold by street vendors every year. Japanese cakes where already existing but someone thought of putting an oreo inside the cake, it boomed for almost a year.

Then, street vendors started selling candy in their mini "Candy Corner" carts. Well of course, students in my university liked the idea of a cheap "Candy Corner" in the streets.

Then came, piayas which were good by the way. As usual, the students would swarm around something new in the streets.

Notice the pattern? These ideas may not be new but what makes them unique is that they are sold in the street; convenient and cheaper prices for the consumers. It is easy for us, Filipinos to spot opportunities and take advantage of them. That is why you are a natural entrepreneur! 

I hope I have answered any questions in your mind about entrepreneurship especially the question: "Why entrepreneurship?" Today is the latest time to be an entrepreneur! Who knows, you might even become one of the world's most successful entrepreneurs.

Keep in touch!

Terms and definitions

Consumer's demands - These are what the customers want.

Market price - Price the product is being sold in the market. (Value in the market)

Monopolizing - Taking control of the market; buyers only buy from you.