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The most successful entrepreneurs don’t accept defeat; they face challenges and fight until they turn their dreams and vision into reality. That is the difference between success and failures. The latter happens only when you give up.

We often hear from every new administration about huge infrastructure projects that it will pursue to speed up the development of the Philippine economy and ultimately reduce poverty. Yes, we know that the benefits of infrastructure projects on the economy are enormous in terms of creating jobs and new business opportunities.

I have always talked about not giving up in the face of difficulties and failures. In this column, or when I have opportunities to talk to young people — in commencement exercises for instance — I always talk about the importance of perseverance. It is the second part of the sipag at tiyaga (hard work and perseverance) mantra that I developed at an early age. Tiyaga (perseverance) is an absolute essential in order to get your nilaga (stew).