THE ENTREPRENEUR’s ALPHABET

Should you be an entrepreneur? The

Entrepreneur’s Alphabet serves as a guide
on the characteristics of business people
A - ABILITY TO ORGANIZE RESOURCES

The ability to organize resources, which

involves the 6Ms-
Manpower
Machine
Materials
Money
Moment (time)
Methods
Are critical in operating a firm. These are needed in creating new
commodities (goods and services) that satisfy the wants and needs
of the target market
B - BOLDLY TAKES CALCULATED RISKS

Because risks are always part of any business

and because every business venture is
exposed to a wide spectrum of situations that
affect financial resources and market
performance, an entrepreneur will have to
stay courageous amidst difficulties, will
calculate risks based on facts not on feelings
or hunches, and will plan and prepare for
contingencies to stay on top.
C - CREATIVE AND INNOVATIVE

Creativity involves producing something new or

generating different ideas, processes, and
customer experiences.
Innovating is putting into use that new creation-
whether these are ideas, inventions or novel
ways.
When these two traits function jointly, the
business is provided an opportunity to boost
itself and its profits.
D -DEMANDS QUALITY RESULTS

Quality results or results of high caliber matter

much to a serious entrepreneur. Aiming high
eventually achieves excellence.
Quality pertains to the uniqueness of goods or
services generated by the business and the
distinction it has above its competitors. Quality
products lead to higher demands.
Usually, companies hire their own quality assurance
managers for their quality control activity.
E - EXCITED TO COMPETE

Competition energizes entrepreneurs: is a key

motivator to showcase confidence in their
strength and their drive and passion for
success; is the drive to improve and enhance
the commodities they offer to the public; and,
is the inspiration to do better.
F- FINDS OPPORTUNITY IN CRISIS

The greatest entrepreneurs were born in times of

crisis; the best opportunities arise in difficult
moments: new and profitable creations and
innovations emerge as solutions are created in
response to problems or to needs.
Crisis should not be seen as predicaments, instead
see it as an opportunity to do business or start an
income-generating venture.
G- GOAL-ORIENTED
These are individuals who act to achieve a
goal they have set. They must know what
they want for their business from the
beginning, at present, and in the future.
Entrepreneurs should always be inclined
toward their goals, which often include
earning and maximizing profits.
H- HARDWORKING
Hardworking entrepreneurs are not limited by
work hours and work locations. Aside from
being hardworking, they work smart. They
know how to delegate tasks. They are also
distinguished by their industriousness and
perseverance in achieving goals.
I- INQUISITIVE WHEN PURSUING IMPROVEMENTS
Entrepreneurs who are inquisitive are able to
ensure that their creations or businesses can
evolve and withstand the test of time. If others
cannot fix something, entrepreneurs make sure
that their outputs are of high quality by creating
through researches to determine what works
best. They aim at continuous improvement, thus
turning something good into something better,
and something better into best in the market.
J- JACK-OF-ALL-TRADES
Entrepreneurs who wish to be jack of all trades
are those who want to learn as much as possible
so they do not depend on anyone. An
entrepreneur may become a jack of all trades,
but not necessarily a master of none. They want
to be in control and at least understand
everything that is going on in their business.
They should be flexible and must be familiar with
all the procesess and the ins and outs of their
company.
K- KEEN EYE FOR DETAIL
Entrepreneurs want to see the big picture and
also have a keen understanding of the smaller
details. They should always be sharp, esp.
with regards to processes and other important
areas of their business
L- LEGITIMATE
Smart entrepreneurs should avoid problems
by ensuring that everything they do is
legitimate. No one is above the law. With
profit comes state obligations, and
entrepreneurs should comply with
government regulations accordingly. Their
businesses should be established legally and
comply with all the requirements.
M- MINDFUL OF CHANGES IN THE ENVIRONMENT
Entrepreneurs should always be connected locally
and globally, to be able to remain up-to-date on
new offers and environmental threats in the
market. Such knowledge helps them improve
their commodities, comply with environmental
standards, and easily adjust operations and
productions. They should always be aware of
trends, developments, and innovations within
and outside their business environment.
N- NETWORKER
Entrepreneurs love networking and
connecting with other people. They seize
every opportunity to expand their network.
They should be good networkers so they can
maximize opportunities to increase their
businesses’ visibility. Being friends with their
businesspersons is also an important
networking activity. They build bridges
instead of walls. Opening your network to
others will you lots of business opportunities.
O- ORGANIZED AND ORGANIZER
Entrepreneurs may not always appear organized,
but most of them actually are. They know what
they want and act consistent with it, allowing
them to remain organized even if their actions
seem disorganized. They are also good organizers
as they are masters at getting things done
through other people. Entrepreneurs know what
resources are needed in their business and how
these could be utilized effectively and efficiently.
P- PASSIONATE
Entrepreneurs are determined to break through any obstacle.
Their spirit is something one cannot easily dampen, for
they are often in battle mode when they want to get things
done. The remarkable synergy between their mind and
heart ensures that they are able to accomplish what they
have set out to do. Their mind determines the end goal,
while their heart provides the means. Entrepreneurs are
passionate about creating good commodities and
increasing profit in their business. One of an
entrepreneur’s main desires is to create quality
commodities which will satisfy the public. A passion for
entrepreneurship is vital if one wants to be the victor in
their chosen industry.
Q- QUESTIONING THE STATUS QUO
Entrepreneurs are never satisfied with the status quo.
They are change agents (catalysts) who are passionate
about moving ahead or being the cause of change.
They are the movers and shakers and they are the
sources of revolutions in their industry and society.
They foresee and foretell essential commodities and
services. They are always a step ahead in everything.
An entrepreneur never settles for what is offered now,
but foresees what may happen in the coming days,
months, years, and beyond.
R- RESOURCEFUL

Entrepreneurs always see the glass as half full

rather than half empty. Especially during hard
times, they are very resourceful and are able
to use their imagination to jump over hurdles
and find ways to effectively utilize whatever
resources they have to achieve their desired
results.
S- SUCCESS-ORIENTED

The best entrepreneurs know that the road to success is

always under construction. For this reason, they don’t rest
on their laurels. They keep on innovating and creating to
ensure the continuity of their success. And should they fail,
they get up and persist, for they know that down the road,
success awaits them. Entrepreneurs are always oriented
toward success. For most entrepreneurs, success means
earning a profit. They hate failures but they know that it is
through that many entrepreneurs make it big. Success-
oriented entrepreneurs are focused on the goals of their
business.
T- TIME-CONSCIOUS

Entrepreneurs always value time as their most important resource, so

they never waste it. They may often be seen as hyperactive and
always in a rush to finish things, but they are careful about how
they use their time. To them, haste makes waste although to
outside observers, entrepreneurs may seem to do many things
quickly. They make decisions fast because they are confident and
they trust that whatever happens, they are ready and can take
responsibility for the results. They are good time managers. They
are also not limited by work hours and can put in more time if
necessary.
Entrepreneurs believe that “time is gold.” For them, wasted implies
wasted capital and funds in their hands. Maximizing time is thus
very important to them as this connotes maximizing profits.
U- UNDIVIDED FOCUS

One important secret of the best entrepreneurs is their focus.

When they work, they work. When they rest, they rest.
When they decide to play, they make sure they will have
fun. Entrepreneurs do not divert their attention away form
what they wanted to do. They are so focused on their own
world and in achieving their goal. They never seem to rest,
yet they actually enjoy seeing what they want to be turned
into reality. Entrepreneurs are focused and disciplined.
Which allows them to pour undivided attention on only one
thing at a time, even if they have many things in their
hands and ideas in their minds.
V- VISIONARY
Entrepreneurs knew where they are going. They are very
good at creating their ideal future. They don’t simply
let things happen; they make things happen.
Entrepreneurs are visionaries. They have a clear
picture in their mind on what kind of future they want
and have a great vision for their business. They have
predictions of possible outcomes. Even as they are still
starting their business, they already have imagined and
envisioned what their business can become in the
future.
W- WINNING ATTITUDE
Entrepreneurs are born to win. They are driven
by their goal—winning---and even if they lose,
they are able to bounce back. Ultimately, to
entrepreneurs, there are no mistakes, only
lessons. Entrepreneurs always have a winning
attitude and are determined to surpass
challenges and obstacles that come their way.
X- XTREMELY SMART
The entrepreneur would do good to be STREET SMART. Or
practical. This means getting ahead of his competitors, but
smart enough
to make decisions grounded on facts;
to take actions that shows determination to win so as
to improve life and families; and,
to get what he wants, like profits earned from
created commodities and services .

Being smart is a skill molded through experience and training.

Y- YEARNING TO LEARN
An entrepreneur who recognizes that he may
not know everything; that he is capable of
learning what he needs to know; and, that
wishes to be ahead of the game, never stops
learning. He never stops entertaining new
knowledge as this fresh information can
possible improve his business operations,
commodities, and his entire firm.
Z- ZEALOUSLY ENERGETIC
An entrepreneur’s powerful formula to excel
and to meet his firm’s goals is that, he
must exude much zeal and enthusiasm;
must exhibit inexhaustible energy at work;
and, must always be eager, passionate and
intense in his business operations.
 Chapter Summary
• An entrepreneur is a person who possesses
managerial talent and decision making skills
needed in a business enterprise.
• An entrepreneur is a risk taker, taking into
consideration the business world’s ups and
downs as they engage in various business
opportunities.
• Anyone can be an entrepreneur. Any individual
who desires to improve their personal and family
life and contribute to the economy can be an
entrepreneur.
• The ability to identify the needed resources
for a business is a must for entrepreneurs.
• Creativity refers to making “something new.”
Innovation means putting into use that
“something new.”
• An entrepreneur who demands quality results
may seem strict, but the caliber of the end
result should really matter to him.
• Goal-oriented entrepreneurs must know what
they want from the beginning, at present, and
in the future.
• Hardworking entrepreneurs are not limited by
work hours and work locations.
• Entrepreneurs who are inquisitive when
pursuing improvements are able to ensure
that their creations or businesses can evolve
and withstand the test of time.
• Entrepreneurs who wish to be jack of all
trades are those who want to learn as much as
possible so that they do not have to depend
on anyone.
• Being mindful of changes in the environment
means capturing as much information on the
changes in the setting where their business
operates.
• As a networker, entrepreneurs love connecting
with different people. They seize every
opportunity to expand their network.
• Entrepreneurs may not always appear organized,
but they actually are.
• Entrepreneurs are never satisfied with the status
quo. They are change agents , passionate about
getting ahead or being the cause of change.
• Entrepreneurs always see the glass as half full rather
than half empty. They are very resourceful and are able
to effectively utilize whatever resources they have to
achieve their desired results.
• An entrepreneur always values time as their most
important resource.
• Entrepreneurs are born to win. They are driven by
their goal—winning---and even if they lose, they are
determine to bounce back.
• Entrepreneurs are street smart, practical, and their
decisions and actions are grounded. Entrepreneurs
never stop learning. They may not know everything
but they are capable of learning anything!
ACTIVITY:
DO YOU HAVE WHAT IT TAKES TO BE AN
ENTREPRENEUR? IDENTIFY QUALITIES THAT
YOU POSSESS IN THE ENTREPRENEUR’S
ALPHABET USING THE LETTERS OF YOUR
FULLNAME. USE ONE WHOLE SHEET OF PAD
PAPER FOR YOUR ANSWERS. SUBMIT IT TO
YOUR ADVISER.