Entrepreneurs have high Adversity Quotients
Posted On Sunday, August 24, 2008 at by Sun Jun
Go Negosyo Big Time: Entrepreneur 101 (Part 3)
An Entrepreneur has a HIGH Adversity Quotient (AQ)
Adversity Quotient is the ability to withstand adversity and not give up. (Resilience in times of failure)
Wrong Mindset: People with stable jobs need not need start a business.
- Your lifestyle can improve for the better if you start a business even if you already have a stable job. And who knows how long that job will be available to you. It can be gone from your hands as fast as the following day.
"What separates a player from the bigger players is CREATIVITY."
Go make your first MILLIONS!
Recently I was watching TV and I saw Ai-ai delas Alas in the trailer of her latest movie as she said these words "Kung kaya ng iba, ipagawa mo sa kanila." Later on I realized that it was part of series of supposed to be funny mangling of common Pinoy sayings, the original target of the joke being "Kung kaya ng iba, kaya ko rin!"
I was about to dismiss it as just another of Ai-ai's funny antics when I recognized that there is a nugget of wisdom in what she was saying. Especially when taken from an entrepreneurial context, this is perhaps one of the most common travails of mom-and-pop enterprises who fail to cross over to bigger business. At the point when they are about to expand, there is a tendency to freeze out of a feeling that if they will not be the ones to do it, it will not be done properly at all. Or worse, whatever others can do, they can do better.
"Kung kaya ng iba, ipagawa mo sa kanila."
That's how Henry Sy built his SM empire. That's how business empires are built.
Just a thought. :-)
@Boogie
That is so true. When you reach that point where in you are ready to expand, you really should learn how to delegate and trust other people already. It would be impossible for a single person to handle everything.
With regards to mom-and-pop businesses, I do believe that they also have a point when they say that "Others" (meaning other people outside the family) are more likely not to work actively just to make your business grow. Also, the tendency is more losses are incurred when you start delegating and expanding. The question now becomes whether you can take these losses or not, whether you have enough working capital and profit to ignore these or not. (According to 2 older people with small family ran businesses I've talked to.)