Unravelling the psychology of an entrepreneur

Quite a number of Filipinos have achieved a great measure of success from taking on the role as entrepreneurs. One of them is Mercy Abayan, or Tiya Mercy, who is the owner of Romina’s Bags. She started out in the early ’70s selling wallets and bags to vendors in Quiapo and Central Market. Today, her leather goods are still selling at very popular prices of P30 to P120 and companies buy them in bulk as giveaways.

Another small and medium-sized entrepreneur (SME) with an innovative business concept is Regaloservice.com, an online portal that offers gift registry and shopping services. The site allows customers to create “wish lists” so that they and their friends know what gifts to give each other.

For those who really don’t want to stress out on choosing gifts, they can simply request Regaloservice.com to source out the gifts that they want. The site’s employees will then shop for the gifts and deliver them to customers.

Hard work, perseverance, and a knack for unique business ideas are useful traits for entrepreneurs, but there are other qualities that spell success for SMEs:

Entrepreneurs are visionaries. The average person sees an empty garage with leftover junk. Entrepreneurs, however, may look at the same space and see an auto parts store or even a specialty café. They have a vision that opens their minds to a number of possibilities.

“Here at Globe Business, we partner with entrepreneurs by sharing their vision. We offer them communication solutions that can help open possibilities for them and help them realize that vision,” says Martha Sazon, Globe Business senior vice president for small and medium business group.

Entrepreneurs are go-getters. The average person, upon seeing a successful franchise, will wish to get one. A serious entrepreneur, however, will devise plans on how to establish a similar endeavor and build the business from the ground up.

Entrepreneurs don’t wait around. When an inspiration or an idea sets in, entrepreneurs immediately work on how it can help their business. “Through reliable services, entrepreneurs can find inspiration, validate ideas, do additional research, or network with people. With Globe Business, they can do all that fast, without waiting around,” says Sazon.

Entrepreneurs are risk-takers. Statistics from Globe Business reveal that out of five start-up businesses, three or even four will fold-up in three years. Entrepreneurs, however, know that risking nothing means gaining nothing. Many opportunities look like risky challenges in the beginning.

Entrepreneurs live within their means.  SMEs operate cost-effectively and maximize the returns from their resources. They want to earn the most using minimal investment. Globe Business plans are especially designed to give entrepreneurs maximum features and services at a very affordable rate. For example, Globe Business’ Shareable Budget Plans start from a P300 monthly cost ceiling for a company cellphone account and above.

Entrepreneurs want to enjoy life outside work.  “This is the one complaint that many entrepreneurs tell us: they hardly have time for personal hobbies or even for their families. This is why we designed our products and services so that they do a lot of the work for the entrepreneur. With Globe Business, we don’t just help an entrepreneur at work—we help him achieve work-life balance so he can be happier, be inspired, and be more driven to grow and succeed,” explain Sazon.

Learn more about Globe Business as a preferred solutions provider for SMEs. Consult a Globe Business account manager; visit a Globe Store near you, log on to business.globe.com.ph/onlinestore or call 7301010.

About Globe Business-SG

The Small and Medium Business Group of Globe (SG) is the primary enabler of small and medium business enterprises, delivering solutions that create competitive advantage. Backed by strong leadership and a world-class network, it empowers small and medium businesses every step of the way, through solutions that are anticipated and delivered the way they want them.