Shaping a new entrepreneurial life

We have often reiterated that a successful entrepreneur must excel in self mastery, situation mastery and enterprise mastery. In fact, in our Venture into Entrepreneurship (VIE) program, the first item on the learning agenda is knowing the self, a critical first step on the road to entrepreneurship.

Before defining the enterprise concept, crafting the business plan and identifying the needed resources, the wannabe entrepreneur must first discover and master the self. The best entrepreneurial venture for a person is one that fits his/her persona. The fit will explain the passion the entrepreneur would have for the enterprise. Passion for the enterprise is a key indicator for the sustainable success of an enterprise.

As the year turns, the next three days is a good time to reflect and discover yourself. At the AIM-Asian Center for Entrepreneurship, we have a process that allows each VIE participant to discover him/herself. The first week is purposively designed to discover both their logical thinking capabilities and their creative thinking capabilities. However, greater emphasis is placed on the discovery of the creative thinking because we realize that these entrepreneurship wannabes have practiced logical thinking throughout their formative years in school. The ability to balance the appropriate use of these two faculties possessed by all individuals is critical to self mastery.

Discovering your creative capabilities

After using mostly your logical capabilities in the last 365 days, why not discover your creative thinking capability? This can be done by going through creativity exercises which can be found in references sold at your favorite bookstore.

Just go through the exercises and discover how creative you really are. Then, move into creative activities and push your discovered capability to the limit. Create something: a painting, a picture, a garden, a song, a poem, a dish, anything. Discover to what extent you can create. You will surely enjoy doing this in the first half of the three days.

Discovering your core values

Next, go through a process of knowing your essence. This starts by clarifying your core values. There are no wrong or right answers but these are things that do not change over time nor with circumstances. It is much like the center of a clock or watch. It has its permanent place. Only the hour, the minute and second hands change position. No matter what time it is, the center remains in the same place.

Personal core values are discovered through several processes. One way is to expose one’s self to the three types of values as expounded by Laurence G. Boldt: universal or archetypal values; cultural or ethnic values; and individual or personal values. One’s core values are usually influenced by these three values.

Universal values tell us about the essence of human existence. They are what links humanity over time and circumstance. Universal values live forever. Cultural values are social values that put order in a society. They are reflected in what society rewards or punishes. Cultural values distinguish what is right from what is wrong. Individual values are greatly influenced by role models. They reflect personal preferences.

Upon understanding and evaluating examples of the three types of values, ask yourself: What are the universal values that I represent? Why? Then, do the same with cultural and individual values.

Subsequently shorten the list. Bring down the list down to no more than five. Having more than five will increase the chances not only of duplication but of surfacing conflicting values. Having less than five may not be enough to get to the essence of one’s core values.

Next, prioritize the list of five. Which one is first, second and so on. There are many other methods that can be used to arrive at one’s core values but the objective of all these different methodologies is the same. So, just come up with a short list of prioritized core values.

The next important step is to test the values. Stress test the values for consistency over time and circumstance. Think of examples that would put a value to the test. For example, if honesty is one of the core values, ask what will you do if you found P1 million in cash in a taxi you just boarded? Will your action change if the amount were smaller or bigger? If your action would change depending on the amount founded, then honesty is not a core value. It changes, given a different circumstance. If the action does not change, then it is a core value.

Core values are valuable criteria when making choices. They express what you want or do not want to do.

Discovering your personal vision and mission

Your personal vision and mission can alternatively be called your lifetime work. Beyond the end of your existence on earth, what do you want to be remembered by? Your personal vision and mission has always been there. It has just not been articulated or written down. Unwittingly, you have already used your personal vision and mission. You have always put time and effort on the things that matter most to your personal vision and mission.

Recall events that you enjoyed doing. Recall events in the past where you put time and effort, or that you did not feel tired of doing. Recall events that you only stopped doing because you could no longer physically carry on. Recall events when time went by without notice. Recall events that thrilled you. Recall, thus far, what you consider your greatest achievement?

What do the answers to the "recall questions" tell you? Is there a pattern? The pattern reflects the shadow of your personal vision and mission. The process mentioned is only one of the ways to arrive at a personal vision and mission. The object is to be able to discover them. These are valuable criteria when making choices. They express what you want or do not want to do.

Discovering your talents

Individual persons have differentiated talents. Talents are natural abilities that make certain activities or things easier to do. Talents indicate what one is able to do with less effort. The process again starts with "recall questions". Recall activities that you effortlessly did. Recall activities that you had difficulty in doing. Recall activities that you enjoyed doing. Recall activities that you did not enjoy doing. Recall a set of activities that you delivered from start to finish. Recall a set of activities that you stopped doing before the entire set was done.

What do these "recall questions" tell you? Is there a pattern? The pattern reflects what you are good at. There are several other ways to determine your talents. But all of them will ultimately answer the question: What are you good at? Your talents are valuable criteria when making choices. They express what you can or cannot do.

The road towards self-discovery

The four discoveries are steps towards self-mastery. The four discoveries will point out the enterprising venture a person will be passionate over. Doing this discovery process in the next three days will be the best preparation for becoming an entrepreneur in 2003. The four discoveries will guide your choice of entrepreneurial opportunity to pursue. The four discoveries will point to a venture that will make the entrepreneur the best he/she can be. In the process, the enterprise will also become the best it can be.

It is advisable to incubate the entrepreneurial spirit first. It will make difficult ventures easy to do while impossible ventures will be given a little bit more time. True entrepreneurship happens when both the entrepreneur and the enterprise become the best they can be.

(Alejandrino Ferreria is the dean of the Asian Center for Entrepreneurship of the Asian Institute of Management. For further comments and inquiries, you may contact him at: ace@aim.edu.ph. Published "Entrepreneur’s Helpline" columns can be viewed on the AIM website at http//: www.aim.edu.ph).