The Activity is Biography on Entrepreneur.

The entrepreneur that will do biography is Howard Sy The Grandson of henry sy and owner of storage mart.

This is the first part which is the Executive Summary and Introduction for your guidelines.

Body of the papen Topics explored here will vary, depending on the entrepreneur you choose to focus upon and the dynamics of their venture formation and development. Sample topics could indude: Opportunities: discovered or created? Evolution of the business idea The process of entrepreneurship The role of innovation: type, scope, etc. Interruptions and significant events in the process of business formation Characteristics of the entrepreneur Critical stages and transitions Challenges in scaling up Entrepreneurial ecosystems1. Executive Summary He stumbled into the program that inspired the thought that there should be a market for selfstorage in the Philippines when he was beginning his second year at Macquarie. "I looked into it and discovered a chance. While there is already a need abroad, it is not now that great. And eventually, the market will expand here, according to 3y. From the time he had the idea to the day Storagel'vlart actually welcomed customers in November of last year, it took around two years. "| invested all of my money that I had saved into this venture. I'm happy to have accomplished that. By says. Storagel'vlart on Yakal offers 161 units with lease terms ranging from a month to a year, of which around 40% are currently occupied. To satisfy the demand, changes have already been made to the unit arrangements. StorageMart provides roundthe clock security and customer access to entice customers. Every storage area is equipped with a unique door alarm as an additional measure of security. The unit's alarm system will alert central security and the owner of the room that it has been accessed in the unlikely case of a breakin. These characteristics, along with the light interiors, could encourage more businesses and private individuals to rent storage space. By had his fair share of errors when he first started out, such having Sy does most of the work himself and pores through all the details, all part of the training that he got from his years at Macquarie. "That is what they emphasize in the banking industry, the attention to detail," says Sy, who does not regret his years in the world 01 flnance even if running his own company was what he always wanted. "I liked the challenge. I wanted to prove to myself that I could do it. But after a while, I was not too happy anymore. I wanted my own business, something to call my own," says Sy, "And I wanted a business that is scalable, not a oneoff thing like a restaurant." It has been a "slow and steady" growth for StorageMart, a welcome change of pace from the frenetic life that he used to lead, and he would not have it any other way. "It feels nice to have your own. This is my baby. All of my life savings is here," says Sy, adding that he is fortunate to have the full support of his family, including his father, Hans, and grandfather, Henry. "The nice thing about them is that they push you to do what you want," says 3y, "I was not obligated to come home and work for the family. Sooner or later, I may join but I don't want to go in there without any experience. I want my credentials to speak for themselves." In the meantime, Sy is committed to blaze his own trail through StorageMart, guided by the most important lessons he learned from his familyto know the business flrst-hand, take care of all the details himself and realize that there is always a solution to a problem, no matter how serious it is. 2. Introduction The Philippinesbased shoe company of Howard By, a retail magnate's grandson, was abandoned in favor of creating his own self~storage enterprise. The 28~yearxold businessman launched his first StorageMart PH store in Makati last year and is already planning to build a second one in Bonifacio Global City, a nancial hub in the greater Manila area. In this interview, 3y discusses his choice to enter the market. the difficulties he has encountered, and his future intentions. I've wanted to launch my own business since I was a small child. I was confident that, one way or another, I would succeed. The company where | rst worked, Macquarie Funds Group, had a fund that made investments in regional infrastructure. This gave me a solid foundation, a strong work ethic, and enough seed money for my first business. I had the thought, "Is there a market for selfstorage in the Philippines," when l was watching the television program "Storage Wars" with my family one afternoon. I discovered there existed after doing some investigation, and StorageMart PH was established at that time. I wanted StorageMart to be a local version of how selfstorage is done abroad, with the same level of customer service. I want my company to be on pace with what is considered to be the international standard and to set the bar for highquality self storage in the Philippines, not just a cheap local knockoff. Our first plant has been operational for almost nine months, and we want to open a second one within the next two weeks. We intend to open a few more throughout the upcoming year. Just to be clear, StorageMart PH is not connected to the global StorageMart in any manner. They are undoubtedly a company to which I would like my own to aspire. I came up with the same name purely by accident, more as a tribute to my grandfather Henry Sy Sr. and his legacy, ShoeMart. I wouldn't be here today without him. The largest obstacle I faced was my lack of knowledge on self~storage. There weren't many industry experts in the Philippines, and I had no knowledge of or expertise with the sector. My current expertise is primarily derived from web research, conversations with consultants from around the world, and my own experiences. The lack of public familiarity with the sector and the service posed the next obstacle. In the Philippines, there is a severe lack of product awareness. Many clients were unfamiliar with and even unaware of the existence of selfstorage services. For industry awareness, a lot of marketing expenses would be incurred. The rst StorageMart facility opened last year in Makati, Philippines. Customers also believe that since storage is only for their unimportant belongings, it should be quite inexpensive. Because they initially didn't realize how much better a storage could be than what was presently on the market, they were first unwilling to pay for quality. By providing highquality service in a convenient manner, we hope to change that stigma. The last signicant issue was the absence of readily available, affordable, and accessible space. The absence of suitable land for new construction will impede growth. Additionally, trying to convert office buildings in the Philippines doesn't go well. There aren't many highquality industrial structures here. Many of them don't meet the necessary load capacity for a selfrstorage facility because the majority of them are offices designed for outsourcing company processing. The Philippine market is very different from the American market. Because of the heavy traffic. a 3~kilometer drive takes longer than 30 minutes. This increases the significance of placing your facility in an approachable and practical area. Finding a suitable place took me almost two years in all, and it's still challenging. I wouldn't have tried to save money on items I didn't really need. After operating for nine months, I'm starting to realize that the adage "You get what you pay for" holds some reality. When purchasing things that will be used frequently or are essential to the operation of the business, it might sometimes be preferable to pay a premium to assure durability. The Philippines' selfstorage industry will gradually expand. Demand is present right now, but it pales in comparison to what it is abroad in the United States and other Southeast Asian nations, where storage has exploded. Additionally, the Philippines is afflicted by numerous capacity issues that prevent storage from developing. Since we entered the market, the industry's growth has been considerably accelerated. This is as a result of the extensive marketing and publicity efforts we undertook to promote the company. I believe it is starting to pay off slowly as more developers are considering selfstorage. I'm starting to notice a number of other current storage firms step up their marketing as well. I'm pleased to witness the longlasting effects StorageMart has had on the self~storage sector in the Philippines. I predict that, conservatively, the industry will step up its pace in five to ten years. Clearly, the local tourism catchphrase "It's more fun in the Philippines" holds true even in the self-storage market