After assessing my entrepreneurship qualities on the Personal Entrepreneurial Development course, I had to continue my transformation through this online business planning course called New Enterprise Planning.
I had a more profound knowledge of my capabilities and entrepreneurial motivations to be successful.
Good news, right?
Not so much.
I didn’t have the technical knowledge to create a sound business plan! New Enterprise Planning course from the University of the Philippines Open University helped in getting the technical knowledge I need.
How I started this Online Business Planning Course
I immediately applied for the Online Business Planning Course : Open University New Enterprise Planning (NEP) course after the successful completion of the Personal Entrepreneurial Development course.
I took NEP to arm myself with technical business knowledge to propel me into an entrepreneurship career.
Though I learned some basic concepts in accounting and marketing as elective courses on my B.S. Economics course from the University of the Philippines Los Banos, I felt it wasn’t enough to create an actionable business plan. UPOU New Enterprise Planning (NEP) taught me how to create a real and actionable business plan.
First, the course taught me how to validate a business idea sourced through the business environment. I became aware of market research. The course taught me a valuable lesson on business intelligence.
Then, we were tasked to map out the operations up to the last detail, from testing production methods and making a time-and-motion study on it. I can even remember drawing some layout for the store to be rented out.
Then the dreaded financial statements.
I can’t imagine I made a 3-year financial statement projection. It was such a struggle balancing the income statement, balance sheet, and cash flow statements. What I did enjoy is creating an effective working capital plan to grow the business.
My analogy for the working capital is like a snowball drifting down a snow-covered mountain. As the snowball rolls, it gets bigger and bigger. Same as working capital, as you correctly manage and reinvest it to the business, it will grow magnifying the initial outlay.
Finishing the New Enterprise Planning course is a struggle.
Learning business planning in 5 months is not for everyone. What I indeed took home as a lesson from New Enterprise Planning is perseverance to finish the course. The bonus part: I took an interest in learning advanced business administration. I think NEP became the stepping stone for me to pursue graduate studies in UP Diliman (MBA).
Who would have taught that I would finish the course with the highest distinction the course can give? I
never imagined that I could earn a High Distinction. It felt good that all my hard work paid off. However, the integration and closing program would provide an exciting twist.
About a week before the graduation, I was tasked by our instructor to give a brief speech on behalf of the UPOU New Enterprise Planning (NEP) batch since I finished the course with a high distinction.
When I received the notification, I felt nervous because this is the first time I will do such an act.
I was just a happy go lucky guy. A typical guy with a normal life just like you.
Not in my wildest dreams that I could receive such an honor.
I eventually agreed, and I prepared a brief but a serious speech about my experiences a day before the program.
The Integration and Closing Program day came. I was very nervous that I felt like I could puke. When I was about to speak, the speech I made popped like a bubble.
I was so nervous that I did not remember my prepared speech. I forgot what I would say, and I just spoke spontaneously. Though the speech never went as planned, the spontaneous speech was just as great as I have hoped for.
One thing I regret on that day as I didn’t ask anyone to take a photo of me speaking in front of everybody. The thing I remember in my speech, on the other hand, is about self-discipline to enhance personal development to lay the foundation for my future empire.
Life after New Enterprise Planning
I planned to build an empire.
I was full of hope that I quit my full-time work as a BPO executive to execute my business plan. I used all my savings from working for two years to build my dream empire.
My business plan is to build a restaurant with my initial go-to-market strategy of entering trade and food fairs.
What happened next might surprise you. I failed my first business, a food business that is. I never expected events that are beyond my control and would lead to financial losses. I planned everything on my business plan except for planning for risks.
I took the fall hard as I went from having a lot of savings to no money at all. I had to ask for allowances from my mom until I started working in the banking industry.
What the failure never took from me is the perseverance and the optimism that I learned from NEP.
It made me yearn for more concepts to explain what happened to my supposedly perfect business plan.
I started different businesses and failed again. I persevered and learned expensive lessons from failed endeavors.
These failures led to starting different firms in the transport industry, BPO industry, and consulting.
What I learned in my entrepreneurship journey brought by this online business planning course is to nevel look failures as the opposite of success.
Failure is a prerequisite of success.
Failure is inevitable in every entrepreneurship journey. Failure teaches us valuable lessons not only in business and in life. Look faults as opportunities to learn. Just make sure to be smart in using these failures as a stepping stone for success.
Online Business Planning Course Professor
I took over as the Course Coordinator for the New Enterprise Planning last 2017 until the present.
I have to say this Online Business Planning Course called New Enterprise Planning started my career in business.
I went full circle from a student to a professor.
Just recently, UPOU, with the help of experts in the field of business, updated the course reference. I was asked to develop the marketing plan module for the updated New Enterprise Planning Course. I integrated digital marketing and technology in the marketing of products or services since the previous module was written when the internet isn’t thriving yet.
I had lots of students making it big now in the SME scene in the Philippines.
Here is an interview with one of the recent student who is currently operating a shop:
Why Take UP Open University New Enterprise Planning?
UPOU Online Business Planning Course or formally titled as New Enterprise Planning provides individuals with knowledge and skills used in preparing and analyzing sound business plans for entrepreneurial ventures. The course also instills self-discipline as modules aren’t supervised. Honesty is taught as no one will check how you answer the questions. You will do this on your own.
You’ll learn perseverance. Learning business planning in 5 months is not easy, and this is not for everyone. As I experienced, NEP is not for the fainted heart.
If you feel you can do it, then take the course.
The NEP course runs from January to June and July to December of each year. You only need 5,500 pesos to enroll that includes the tuition fee, digital issue of the NEP modules, and access to the online classroom MyPortal.
Sign the form (CLICK HERE) for more information about the NEP course and other distance learning courses at the University of the Philippines Open University. Inquiries are also very much welcome in UPOU.
The Author RM Nisperos is a Professor at the University of the Philippines Open University. He previously teaches Personal Entrepreneurial Development Course (Certificate Program) and now teaches New Enterprise Planning Course and Introduction to E-Commerce Course (Certificate Program) and Public Fiscal Administration for Master of Public Management (Masters Program).