I just finished reading ‘Negosyo – 50 Inspiring Entrepreneurial Stories’ by Joey Concepcion. I especially like the business lessons from Prof. Andy Ferreria at the end of each entrepreneurial stories. The following lessons are from entrepreneurial stories 1-25.
Build your enterprise around your passion. See if your passion has a market. Alternatively, check if fulfilling habits of customers who pay is your passion.
Learn to reject opportunities that are not consistent with your vision.
Being big does not guarantee victory. Market relevance and acceptance guarantee victory.
Hold on to one’s initial vision.. and take that leap of faith with the hope that somehow things would fall properly on the right place.
Difficult things are easy to do.. impossible will take some time.
True innovation is founded on great understanding of the logic.
If it’s your passion but do not have the competence to do what is needed, you can learn it, hire one, or partner with one. But you must have the competence to succeed.
Set a personal vision as early as you can.
Difficult things are easy to do when you are passionate about it.
There will be less people willing to do the difficult things.
A passionate person will grow the enterprise faster.
Transform each challenge into an opportunity.
It’s about making the enterprise the best it can be.. not better than the other.