EXPATS IN THE PHILIPPINES – THE ENTREPRENEUR
If you are not a true Entrepreneur, Forget it
What makes an entrepreneur? I believe that the answer to that is attitude. An entrepreneur just looks at the world differently in many ways. He, or she, sees opportunity wherever they look. They see need for a product or service and ways to deliver them in a different innovative way that might leave their competition in the dust. They rarely are motivated simply by the promise of riches but instead their main gauge of success will be that of developing an idea into a working and profitable model that they can be proud of. That the business they created can ultimately be financially successful beyond the normal persons wildest dreams is most often merely a very attractive by product. An Entrepreneur also is willing to put everything he has into a venture he believes in, whether that be time or money. He will never live by the constraints of the clock, punching in at 9 am and clocking out at 5 pm. His day is only done when there is no more work to be done, and the reality is, there is always work to be done. Consequently an entrepreneur lives, eats and sleeps with thoughts of his business foremost on his mind until his venture reaches the point where a level of success is reached and the business is running smoothly and profitably. Then he MIGHT rest, lol.
An entrepreneur also needs to be independent. The simple fact is that when he comes up with an idea, there will be few that support him. There will be naysayers that either tried and failed themselves or are too scared to even risk their own finances and egos. The entrepreneur’s fiercely independent character will have to filter out these negative influence and usually move forward without the need for support from others whether it be financial or moral. Most important, the entrepreneur needs to be some one who focuses on solutions instead of excuses. He will most likely not have anybody to blame his failures on, and again the reality is that for the business to succeed, blame will not amount to success, only solutions will.
But why is this entrepreneurial spirit so necessary for financial success for Expats in the Philippines who chose to make a living here? Well, in this day and age the Philippines is a lot like the wild wild west once was. The opportunities are simply endless when it comes to business but so are the obstacles.
First off, getting a 9 to 5 job here is pointless. If you can get beyond the restrictive hiring policies that favor locals to foreigners, the fact that the minimal wages here make it virtually worthless to consider. In most cases the wages are simply subsistence, so why bother? Then if the decision is made to get into business, the bureaucratic hurdles will be a nightmare that will make even the most committed entrepreneur beg for mercy. Then when your doors are finally open,expect to have copycats set up shop three doors down on either side of the street, offering a similar product or service for less, regardless of whether they can make money doing it.
In the end, the hurdles a businessman will face here in the Philippines are so plentiful and so daunting that the only person that will succeed is a person who in true entrepreneurial spirit, will be able to not only recognize an opportunity but will have the attitude and hardheaded work ethic to demolish those obstacles decisively. to those that do have what it takes though, the reward at the end of the race tends to be a whole lot bigger than what you could expect in our mature business landscapes of western society.
Some good articles for the entrepreneur :
Do you have an idea about opening a business in the Philippines and want some help? contact us at email@example.com