This document discusses factors that contribute to the success and failure of Filipino entrepreneurs. It identifies seven factors for success: 1) enjoying what they do, 2) clear knowledge in their field, 3) common sense, 4) self-confidence, 5) hard work and persistence, 6) creativity, and 7) leadership skills. It also lists eight factors for failure: 1) lacking a written plan, 2) starting a business for the wrong reasons, 3) not having dedicated people, 4) giving up too easily, 5) ignoring customer feedback, 6) underestimating the importance of marketing, 7) having the wrong product positioning, and 8) insufficient startup capital. The document provides explanations for each factor.

1. Republic of the Philippines
TARLAC STATE UNIVERSITY
Tarlac City
Success & Failure
of
Filipino Entrepreneurs
EDUARDO A. PANTIG JR.
MAEd - TLE

3. Success of filipino entrepreneurs
1.They all loved what they are doing
These Filipino entrepreneurs all enjoyed
what they were doing. They never did anything
they hated or anything they didn’t want to do.

4. Success of filipino entrepreneurs
2. Clear Knowledge about the Field
It will likely be easy to start a business which is in
line with one’s passion, expertise, and knowledge.

5. Success of filipino entrepreneurs
3. Common Sense
is literally taken as the capability to create
rational judgments on certain issues. Being confronted
with the harsh realities of life, Filipino entrepreneurs
credit their sound judgment to their previous
experiences and gained or stock knowledge.

6. Success of filipino entrepreneurs
4. Self Confidence
Being confident allows a person to face the
everyday challenges heaped upon him.

7. Success of filipino entrepreneurs
5. Getting Things Done, Hardworking
& Persistent
Once a thing has been planned to be started
with, it must be done and finished all the way down.

8. Success of filipino entrepreneurs
6. Being Creative
Create worthy items out of trash. Filipino
entrepreneurs are creative in devising methods
in line with marketing and managing their
companies.

9. Success of filipino entrepreneurs
7. Leadership Skills
You must have the ability to influence
people and lead them into action.

10. Success of filipino entrepreneurs
8. Self Reliance
Filipinos may tend to be overconfident as
others perceive them to be. But as the famous
Filipino entrepreneurs turn out to be, they are
able to take full responsibility of their actions.

12. FAILURE of filipino entrepreneurs
1.No Written Plan
Don’t believe the myth that a business plan isn’t
worth the effort. The discipline of writing down a plan is
the best way to make sure you actually understand
how to transform your idea into a business.

13. FAILURE of filipino entrepreneurs
2. They start a business for the
wrong reason
They do it because they are excited about the
opportunity of making lots of money, instead of starting
a business based on who they are and aligning the
business with their passion.

14. FAILURE of filipino entrepreneurs
3. Not having enough Dedicated
People
They should be dedicated for the success
of the project. An entrepreneur usually hire
people. Many times it is difficult to find such
dedicated people.

15. FAILURE of filipino entrepreneurs
4. Giving in Too Early
the most common cause of startup failure
is the entrepreneur just gets tired, gives up and
shuts down the company.

16. FAILURE of filipino entrepreneurs
5. Not Listening to Customer
Feedback and Complaints
When genuine customer feedback is
ignored, product improvement suffers. If product
suffers, sales suffer.

17. FAILURE of filipino entrepreneurs
6. They don’t understand and
underestimate the Power of Marketing
You may be good, your product may be
spectacular, but you will stay broke and your
product won’t sell unless you have a ridiculous
and relentless marketing plan.

18. FAILURE of filipino entrepreneurs
7. Product Positioning is Wrong
it might be difficult to sell a product that is
placed in an already crowded market without any
differentiation. In a crowded market, more
advertisement is needed to make the product stand out
from competitors.

19. FAILURE of filipino entrepreneurs
8. They don’t have enough come-up
capital
They ran out of come-up capital to keep it going.
They assumed that customers would just run to their
doors dying to buy their products. You must test your
business idea first on a small scale.