No one argues that the Philippines is mired in a tangle of problems, particularly poverty. Despite the government’s claims of an improving economy, still, a lot of citizens feel that their salaries aren’t enough to get by on a monthly basis. Let’s talk about the Entrepreneurial Mindset.
Why Filipinos should develop an Entrepreneurial Mindset
Perhaps our culture and history play huge factors in this ongoing crisis. Without delving into this seemingly endless argument, let’s stop criticizing the administration for a moment and reflect on ourselves.
Realization
These and other realizations might have been bugging you for a long time. You might reason out “I’ve worked hard all my life”, “I studied well in school” or “I have several jobs to start with”. The thing is, you can’t still avoid the thought of being “trapped” in your current situation.
– Why am I not rich and successful?
– Why is my income not enough for my family’s basic needs?
– Why can some afford a house, a car and luxury travel?
No matter how many extra hours you’ve spent in the office or how outstanding your metrics are in your department, you still cannot avoid borrowing money to pay for your child’s tuition fee or pawning several possessions to make a down payment in the hospital.
Truth is, you are definitely not alone.
The Secret
Most Filipinos feel this way. Many of us might have been conditioned by our elders to get a degree in order to land a high-paying job and be successful. This may be true for a few people but in reality, finishing a 4-year course isn’t a guarantee to financial stability.
In his book, “Rich Dad, Poor Dad”, Robert Kiyosaki emphasized the importance of financial freedom by understanding what passive income means. This concept is based on his Cashflow Quadrant. If you really want to live comfortably or have a secure future ahead, then you would have to take the entrepreneurial and/or investor route. And let me tell you, it isn’t an easy one.
This ideology is also being supported by a noted university president in the country. Former Ateneo de Manila President, Fr. Bienvenido Nebres, said that Filipinos were more inclined to become employees rather than entrepreneurs.
The Differences
If you live in the Philippines where a few yet extremely powerful elite rule, you may be led to think that you’re hopeless. We did inherit from our Spanish conquerors a social system that protects the interests of the oligarchs. Succumbing to this set-up (for example, working abroad for greener pastures, settling for jobs you never liked just because the pay is decent) is not only disappointing but very draining. What really separates the working class and the dominant few is “Attitude”. Successful businessmen are relentless risk-takers.
Putting up a company may sound brilliant but it is not a child’s play. Many flourishing businesses of today had their own share of ups and downs in the past. A well-known tycoon may be seated comfortably inside a business center but he has been through a lot of struggles for years before amassing such great wealth today.
If you wake up one day and realize that you’re sick and tired of working for someone, then congratulations — you just entered the first step to financial freedom. Anticipate though that gaining an entrepreneurial mindset is a long process, regardless of your IQ or educational attainment. It may help to read about success stories of the likes of Mark Zuckerberg, Henry Sy or Tony Tan Caktiong.
ALSO READ: Getting a Personal Loan to Start Your Small Business
Point is, we may never change the system. All we can do is to change our mindset and stick to a goal in order to gain an advantage. Most importantly, we must have the courage and willpower to change ourselves.
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This article “Why Filipinos should develop an Entrepreneurial Mindset” was contributed by Gina Ballesteros of Regus PH, which is currently located in a top metropolitan in the country: Manila, Makati, and Cebu City. They are one of the well-known and world-class providers of business solutions and serviced accommodation.
