1.
In what ways did your chosen entrepreneur confirm to your beliefs and expectations?
The entrepreneur that I have interviewed earlier said that starting a business is never easy. It confirms
to what I am expecting because even before I believe that it will be very hard to start a business
knowing that there is always risk associated with it. Based also on my expectations, earning profit may
time and it coincides with what the entrepreneur said. According to her, it takes 2 years for them to say
that their business is profitable. Based on my interview, the reason for this is because they have to pay
all their liabilities they incur as they start their business and in their first year, they have to make
adjustments and formulate new strategy to attract customer which also drives them to successfully earn
profit. It is also true that entrepreneurship is not predictable but you can control what will happen in the
future. She confirmed this because she experienced failures even if the business is in its highest point.
This was because we can’t really predict what will happen next. The thing that she did to prevent it from
happening again is she change her marketing strategies and she also improved her business.
2.
In what ways did the story motivate you (or not)?
Her story motivates me to have my own business in the future. It inspires me in a way that even though
she is just just a simple individual but she was able to create a business that is not only beneficial on her
side but it also provides and cater true services to all its customers. She failed so many times but she
never quits. She is a very passionate, creative and a person who was able to manage risks properly. I will
give my best to achieve my goal and to be like her someday.
3.
What did you learn that was most unexpected?
The most unexpected learning that I have gained from the interview with the entrepreneur was the fact
that no matter what is your status in life whether you already have a business or you are just a simple
dreamer who wants to build business, everything will happen if there is a strong desire within that
person. Despite of how hard the situation is, I have learned that if an entrepreneur learns how to
determine opportunities and make to handle situations even if it is risky, then impossible will become
possible.
Critical Thinking Questions:
1.
Dawn LaFreeda says, “When you’re 23, you’re not afraid to take risks.” What sorts of risks do
you think entrepreneurs face when they are first starting out? What risks do you think you would take
when trying to get your business off the ground?
The possible risks that entrepreneurs will face in starting a business would be financial risk and the risk
of failure. Financial risk usually happens when an entrepreneur need capital to start a business. It is
usually associated with the question, where can I get funds? In starting a business, entrepreneur should
make a financial plan and failure to do this could mean a failure also in business.
I think the risks that I will be taking are the risk that my money will not grow and will just end up into
bankruptcy. I could think that to happen because I don’t yet have enough knowledge and experience in
business.
2.
Think of the last time you decided to “Go for it” only to fail or be rejected? How did you respond
to your temporary failure or rejection? After reading Dawn’s story, how might you respond differently in
the future?
I could remember the last time I tried to sell my homemade ice candy to my classmates but it just
turned out into a failed business. I let them take it with the assurance that they will pay me back later
but unfortunately, they never did. I just let my money vanish and I didn’t tried making another business
because I am afraid if that failure will happen again. After reading Dawn’s story I will respond differently
by trying again even though I failed at my first time. I will remain persistent in facing the challenge and I
will not let that failure discourage me from achieving my plans and ambitions as an entrepreneur.
3.
Imagine you are a business owner similar to Dawn LaFreeda. What products and/or services
would your business provide?
If I were a business owner similar to Dawn I would offer different kinds of product. I would like to have a
menu packed with a very delicious Filipino foods like adobo, crispy pata, tinolang manok, and bicol
express. I would also offer Filipino sweets like Halo-halo, Leche Flan, Turon, Maja Blanca and many
more. Since it is pandemic and most of the people are not allowed to go outside, I would also offer food
delivery services.
Research for popular images of entrepreneurs around the world and know the truth or story behind
these images. (e.g. Mark Zuckerberg (Facebook), Bill Gates (Microsoft), Steve Jobs (Apple), Elon Musk
(Tesla), and Travis Kalanick (Uber).
Enrich:
One of the popular and successful entrepreneurs in the world was Walt Disney. He is the creator and
voice of Mickey Mouse. He produced the first animated film and is one of the famous producers of
motion picture in the world. I admire him because of his hard work and strong desire to achieve his
dream. He was fired in his work as a cartoonist for the claim that he is lazy and a person without any
creativity and imagination but he never gives up. He encountered a lot of challenges and failures but he
worked until his dreams come true.
One of the popular and successful tech entrepreneurs in the world was Ma Yun a.k.a. Jack Ma. He is the
founder of the E-commerce giant Alibaba and was recognized as the richest man in China. Behind those
successful stories are the thousands of rejections and failures that he had encountered. He is just an
ordinary guy who failed so many times in his exams and was rejected from many jobs. What I admire
him the most is his strong persistence despite of all those challenges. He is such an inspiration to all
aspiring entrepreneurs who are still doubting on their capabilities. Jack Ma is a highly inspirational and
influential person to look upon. He proved to everybody that failures are not hindrance to success and it
inspires me to continue pursuing my goals and ambitions in life.
Reflect:
Often women are discouraged to be in the world of business, let alone be entrepreneurs. Claiming only
men are capable of building a business and eventually penetrate into the market. What are your
thoughts to debunk this kind of idea?
We are created equally by God and I believe men and women should be given the same opportunities. I
can observe the fact that there are more men doing great in business but it is not fair to discourage
women. Both deserve to be in a business because based on the truth presented, entrepreneurship does
not have a special set of personality traits. Therefore, if men are only who are encouraged to be in
business, then it is not true since there is no such real basis for that. Still, men don’t have special traits
that makes them higher than women in terms of doing business.