CHAPTER 1

Introduction

Background of the Problem.

An entrepreneur loses his business because he or she can’t make profit out of
what he or she has done. This is because they have not enough knowledge or guide or
take a chance for some advice when going up into business. Entrepreneur can’t take the
problesm, the disadvantages or managing their own business. They lack self-confidence
and easily destructed by something. The chosen field of business has nothing to do with
their desire, they just take it because of what they observe around them, they think that
they can be successful to, if they also go to this kind of business.

According to Banastao, Cristina and Frias, Solita, an entrepreneur may lose his
capital or credit or may lose his face if he is not able to produce the needed cash or profit.
It is because they don’t meet the qualification or characteristic of a good businessman
who is ambitious and is motivated by their personal vision and mission.

A business must be planned first. A person who wants to go to business must

have self-confidence, that motivates to succeed, if maybe in the future time, but keep to
pursue their desire to succeed. He or she must know everything about what he or she is
going to.

Does the attitude, knowledge and skills of an entrepreneurs have something to do

with the success of their business? Thus, this research paper, “the secret behind the
success of business”, is conceived.

Statement of the Problem. This terminal paper aimed to present the secret behind the
success of a business to students. Specifically, it answers the following questions:

1. What do you do to make your business successful?

2. How do you respond to threat in business?
3. What do you do to overcome your problems in business?
4. How much time do you spend to make your business worth?
5. What motivates you in running your business?

Signifcance of the study.

This research paper is beneficial to the following people:

Entrepreneurs. This research provides insights and offers unlimited

horizon for improvement of knowledge as regards to
managing business.
 Students. The result of this research can, however, allow them to
become productive members of society by giving them a
better idea on how to make a business successful.

Curriculum Planners. This research is made for them to be able to take

entrepreneurship as one of the requirements in entering
college. And see to it the importance of having knowledge
in managing a business.

Future Researchers. This research has something to do to help them in their

future researches, however, be a part of their study. And to
be able to make understand their own subject.

Scope and Limitation of the Study.

The focus of this study is on how to make a business successful, however, it will
not cover discussion about what kind of business are they going to take to make them
successful.

Definition of Terms.

For clarity purposes, the researchers defined the following terms operationally.

Entrepreneurship. One of the subjects offered in College of Management and

Entrepreneurship which focus on managing business.

Profit. May come in the form of money or cash. A material

income or rewards from running a business.

Employees. A person hired to work for another. Usually, entrepreneurs

hire these persons to help them in assisting in managing
business.

Microbusiness. Micro means combining form that is very small. It means

small business that is good for those who want to start
business and have small capital.

Macrobusiness. Macro means a combining form which is large. It means

large business that is well-known and good for those who
have big capital.

Money. A circulating medium of exchange, including coins and

paper money, a measure of wealth.
Service. An act of supplying or rendering a person’s time, work and
effort to meet the customers need or desire as regards to
business.

Risk-taker. A person who exposes herself/himself to the chance of loss,

it is one of the characteristics of a good businessman.

Customers. In business, they are the ones who are served by the
entrepreneurs. Their own desire/needs must be satisfied by
the help of our businessman.