SHS ENTREPRENEURSHIP Q1 Ep1: Career Opportunities in Entrepreneurship
Summary
TLDRThis video script introduces viewers to the world of entrepreneurship with Wax Benson as their mentor. It defines entrepreneurship as the act of starting businesses with financial risks for profit and highlights the importance of being innovative and business-savvy. The script emphasizes essential qualities for success, such as discipline, confidence, and creativity, using the story of young entrepreneur Carl Auca to inspire. It challenges viewers to identify entrepreneurial qualities in various scenarios, aiming to motivate and equip them with the mindset to pursue business opportunities.
Takeaways
- 😀 Entrepreneurship is the process of setting up businesses and taking financial risks in the hope of making a profit.
- 💼 Wage employment is when individuals earn income through wages or salaries given by their employers, while self-employment involves individuals creating jobs for themselves and others.
- 🚀 Entrepreneurs are individuals who organize and operate businesses, taking on greater financial risks to innovate and create economic goods.
- 🌟 The script highlights the importance of entrepreneurship in stimulating economic growth, fostering innovation, and providing job opportunities.
- 👦 The story of Carl Auca exemplifies how young entrepreneurs can achieve success by identifying opportunities and leveraging the internet for business growth.
- 💡 Successful entrepreneurs must be creative innovators who are willing to take risks and invest capital to generate business and job opportunities.
- 🔒 Discipline is a key quality for entrepreneurs, focusing on making their business work and eliminating any obstacles to their goals.
- 💡 Confidence is crucial; successful entrepreneurs believe in their ability to succeed and show confidence in their actions.
- 🌐 Open-mindedness allows entrepreneurs to see every event and situation as a business opportunity, constantly generating new ideas.
- 🚀 Self-starters are proactive, initiating projects and taking responsibility without waiting for permission from others.
- 🏆 Competitiveness is essential for entrepreneurs who aim to outperform others and succeed in their business ventures.
- 🤝 Strong people skills are vital for selling products, motivating employees, and coaching others to success.
- 🔨 A strong work ethic is often demonstrated by successful entrepreneurs who are dedicated to meeting customer expectations.
- 🔥 Passion is the driving force behind successful entrepreneurship, with a love for their work that goes beyond financial gain.
Q & A
What is the main theme of the video session presented by Wax Benson?
-The main theme of the video session is to develop and enhance the skills, knowledge, and competencies of young entrepreneurs to become successful in the field of entrepreneurship.
What is the definition of entrepreneurship according to the video?
-Entrepreneurship is defined as the activity of setting up a business or businesses, taking on financial risk in the hope of making a profit, and transforming innovations into economic goods.
Why is entrepreneurship important in the context of the Philippines mentioned in the video?
-In the Philippines, entrepreneurship is highly regarded for stimulating economic growth, being a key to innovation, and providing job opportunities which are vital for people to improve their economic life.
Who is the featured young Filipino entrepreneur in the video, and what is his achievement?
-The featured young Filipino entrepreneur is Carl Auca, who started tinkering with the internet at the age of 12, created information websites and forums, and turned carlocab.com into one of the highest caliber internet marketing agencies.
What are some of the essential qualities of a successful entrepreneur as described in the video?
-Some essential qualities of a successful entrepreneur include discipline, confidence, open-mindedness, being a self-starter, competitiveness, creativity, determination, strong people skills, a strong work ethic, and passion.
What does the video suggest as the first step for an entrepreneur to start a business?
-The video suggests that an entrepreneur should be a self-starter, meaning they should initiate projects themselves and not wait for someone else to give them permission.
How does the video define 'wage employment'?
-Wage employment is defined as earning income through wages or salaries given by employers, where individuals are employed to work for someone else, such as teachers, lawyers, doctors, waiters, or factory workers.
What is the difference between 'self-employed' individuals and 'entrepreneurs' as mentioned in the video?
-Self-employed individuals create jobs for themselves, whereas entrepreneurs not only create jobs for themselves but also for others, organizing and operating businesses that take on greater than normal financial risk.
What is the significance of the question 'Are you willing to apply to an organization that will help you achieve financial stability and help you grow professionally?' in the context of the video?
-This question is significant as it encourages viewers to consider the benefits of joining an organization that can support their financial stability and professional growth, which is a key aspect of entrepreneurship.
What does the video suggest as a way to test if one has the qualities of a successful entrepreneur?
-The video suggests matching specific entrepreneurial qualities to given situations and evaluating if one's actions align with those qualities, such as discipline, open-mindedness, competitiveness, and determination.
How can viewers continue their learning journey in entrepreneurship after watching the video?
-Viewers can continue their learning journey by tuning in for the next lesson, subscribing to the official Deafed TV YouTube channel, and following the business mentor Wax Benson on various platforms like IBC 13, GMA 7, and WET TV Facebook page.
Outlines
🚀 Introduction to Entrepreneurship
The video script begins with an introduction to the world of entrepreneurship, aimed at young entrepreneurs. It sets the stage for an educational session that promises to develop skills, knowledge, and competencies necessary for success in the business world. The mentor, Wax Benson, invites viewers to learn the 'entrap way' and emphasizes the importance of entrepreneurship in stimulating economic growth and providing job opportunities. The script introduces the concept of wage employment versus self-employment, highlighting the role of entrepreneurs in creating jobs and taking on financial risks for potential profit.
🌟 Essential Qualities of a Successful Entrepreneur
This paragraph delves into the characteristics that define successful entrepreneurs, using the story of Carl Auca, a young Filipino entrepreneur, as an example. It outlines several key qualities such as discipline, confidence, open-mindedness, initiative, competitiveness, creativity, determination, strong people skills, a strong work ethic, and passion. Each quality is explained with the context of how it contributes to an entrepreneur's success, emphasizing the importance of being proactive, innovative, and persistent in the face of challenges.
📝 Matching Entrepreneurial Qualities to Situations
The script presents a practical exercise to help viewers identify the entrepreneurial qualities in various scenarios. It uses the character Jerome, who is knowledgeable about making flower pots, as a case study. Through a series of situations, the script encourages viewers to match qualities such as discipline, open-mindedness, competitiveness, determination, and the ability to seize opportunities, even during challenging times like a pandemic. This interactive approach aims to reinforce the understanding of the qualities needed to be a successful entrepreneur.
🔔 Conclusion and Call to Action
The final paragraph serves as a conclusion to the video script, summarizing the importance of the entrepreneurial journey and inviting viewers to continue learning and exploring business opportunities. The mentor, Wax Benson, encourages viewers to tune in for the next lesson and provides information on how to follow the program through various media channels. The script ends with a motivational note, affirming the viewers' potential to become successful entrepreneurs.
Mindmap
Keywords
💡Entrepreneurship
💡Wage Employment
💡Self-Employed
💡Innovation
💡Financial Stability
💡Risk-Taker
💡Business Mentor
💡Internet Marketing
💡Economic Goods
💡Discipline
💡Passion
Highlights
Introduction to the session aimed at developing entrepreneurial skills and competencies.
Importance of earning money for survival and the concept of wage employment.
The idea of self-employment and entrepreneurship as a means to create jobs and economic growth.
Definition of entrepreneurship as setting up businesses and taking financial risks for profit.
The role of entrepreneurship in economic growth and job creation in the Philippines.
Feature on young Filipino entrepreneur Carl Auca and his journey in internet marketing.
Essential qualities of a successful entrepreneur, including creativity and risk-taking.
Characteristics that distinguish successful entrepreneurs, such as discipline and confidence.
The need for entrepreneurs to be open-minded and see opportunities in every situation.
Importance of being a self-starter and proactive in business endeavors.
Competitiveness as a key trait for entrepreneurs to excel in their respective fields.
Creativity in making connections and finding innovative solutions in business.
Determination as a driving force for entrepreneurs to overcome setbacks and succeed.
The significance of strong people skills for effective communication and motivation.
Work ethic as a foundation for a successful entrepreneur's approach to business.
Passion as the most important trait, fueling the dedication to business success beyond financial gain.
Interactive quiz to identify entrepreneurial qualities in different business scenarios.
Encouragement and motivation for young entrepreneurs to pursue their business dreams.
Invitation to follow for more business insights and entrepreneurial experiences.
Transcripts
[Music]
are you created
innovative
a risk-taker
are you also business-minded
good day young entrepreneurs
welcome to an interesting session that
will develop and enhance your skills
knowledge and competencies to become a
successful entrepreneur
i am wax benson your business mentor in
the subject entrepreneurship
come and join me learn the entrap way
[Music]
we need to earn money in order to
survive
we can engage in different livelihood
programs to support our family
are you willing to apply to an
organization that will help you achieve
financial stability and help you grow
professionally
then how about having your own business
and be the next successful entrepreneur
can you tell me what your family members
do to earn for a living
do you sell products in the market
are you a teacher who works in a school
a lawyer who works in a law firm
what do they have in common
a doctor who works in a private or
public hospital
a waiter who serves in a restaurant
a factory worker who works in a
manufacturing firm
these are some of the examples of people
who are employed to earn income through
wages or salaries given by their
employers
this is what we call
wage employment
[Music]
on the contrary
a store owner
online seller
doctor
[Music]
dentists
[Music]
or optometrists
who have their own clinics are examples
of what we call
self-employed
[Music]
self-employed individuals create jobs
not just for themselves
but others as well
they are called
entrepreneurs
entrepreneurs are people who organize
and operate businesses
that take on greater than normal
financial risk
in this episode
the objectives are that paulus
number one
explain the concept of entrepreneurship
and number two
describe
the essential qualities of a successful
entrepreneur so get ready to explore and
discover business opportunities in
entrepreneurship
[Music]
what is entrepreneurship
entrepreneurship is the activity of
setting up a business or businesses
taking on financial risk in the hope of
making a profit
it can also be defined
as one who undertakes innovations
finance and business awareness in an
effort to transform innovations into
economic goods
young entrepreneurs
before we continue with our discussion
let's have an anthra libya
in the philippines entrepreneurship is
highly regarded in stimulating economic
growth and a key to innovation
it also provides job opportunities which
are vital for people to improve their
economic life
today
our featured young filipino
entrepreneurs is carl auca
at the age of 12 ocad started tinkering
with the internet he created information
websites and forums
by age 13
he started carlocab.com
after a few months the website hit the
top spot of google for a highly computed
keyword in its niche
today
he has turned carlocab.com into one of
the highest caliber internet marketing
agencies putting businesses on the map
online
as an entrepreneur you must be a
creative innovator who accepts risk in
losing profit by investing your capital
you should know how to generate business
and job opportunities
quick to think of a solution
and know how to value your customers
so how does one become a successful
entrepreneur
researchers have identified several
characteristics that distinguish
successful entrepreneurs from those who
fail
as an entrepreneur you need to possess
these qualities to be successful
there may be many qualities needed to
successfully run an enterprise
however
the following qualities are considered
important
let us now learn about the qualities of
a successful entrepreneur
discipline this individual is focused on
making their business work and eliminate
any hindrances or obstructions to their
goals
they have over aching strategies and
outline the tactics to accomplish them
successful entrepreneurs are disciplined
enough to take steps every day toward
the achievement of their objectives
confidence
the entrepreneur does not ask questions
about whether they can succeed or
whether they are worthy of success
they are confident with the knowledge
that they will make their business
succeed
they show confidence in everything they
do
open-minded
entrepreneurs realize that every event
and situation is a business opportunity
ideas are constantly being generated
about workflows and efficiency
people's skills and potential new
businesses
they have the ability to look at
everything around them and force it
toward their goals
self-starter
an entrepreneur knows that if something
needs to be done
they should start it themselves they set
the parameters and make sure the project
has followed the path
they are proactive
not waiting for someone to give them
permission
competitive
many companies are formed because an
entrepreneur knows that if they can do a
job better than the other they need to
win at the business that they create
an entrepreneur will highlight their own
company's track record of success
creativity
one facet of creativity is being able to
make connections between seemingly
unrelated events or situations
entrepreneurs often come up with the
solutions
which are the synthesis of other items
that they will repurpose products to
market them to new industries
determination
entrepreneurs are not thwarted by their
defeats
they look at defeat as an opportunity
for success
they are determined to make all of their
endeavors succeed
so we'll try and try again until it does
successful entrepreneurs do not believe
that something cannot be done
strong people skills
[Music]
the entrepreneurs have strong
communication skills to sell the product
and motivate employees
they are very good at highlighting the
benefits of any situations and coaching
others to their success
strong work ethic
the successful entrepreneur will often
be the first person to arrive at work
and make sure that they meet their
customers expectation
passion
passion is the most important trait of
the successful entrepreneur
they genuinely love their work
they are willing to put in those extra
hours to make the business succeed
because there is joy that goes beyond
the money
[Music]
before we continue
let me ask you
do you also have the qualities of a
successful entrepreneur
let's find out
and match the specific entrepreneurial
qualities to the following situations
i will read the situations and all you
have to do is to mark the correct
qualities of each entrepreneur let's
start
jerome is knowledgeable in making flower
pots
he believes that he can make different
designs of flower pots in a short amount
of time
what do you think
[Music]
great job
number two
jerome consistently tries to achieve his
business goals
[Music]
is your answer discipline
that's correct
great job
number three
jerome views the kobe 19 pandemic as an
opportunity to start a business by
selling flower pots
[Music]
is your answer open-minded
that's correct great job
number four
jerome identified and analyzed his
competitors strategies to increase his
sales
[Music]
is your answer
competitive
that's correct
great job
number five
even if resources are limited during the
pandemic
jerome continues to find ways for his
business to flourish
[Music]
is your answer
determination
that's correct
great job
wow
great job young entrepreneur
i think you all have what it takes to be
a successful entrepreneur
let's learn more and discover business
opportunities in entrepreneurship
on our next lesson
i am your business mentor wax benson
leading you to learn the entrap way
tune in next week as we go on more
business field experiences only here at
that tv ibc 13
gma 7 afford the box and wet tv facebook
page don't forget to click and subscribe
our official deafed tv youtube channel
[Music]
[Music]
you
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