Owning a business is more than just gaining money for some people. For them, it’s about turning their passion into a career.
The only problem is that there is nothing easy about it.
The best thing that one can do, regardless of the current size of their business, is to structure their plans ahead for the future.
So, to succeed in whatever type of business you want to start, these 5 young entrepreneurs share their experience on how they were able to achieve success despite the challenges of starting a small business.
HOMER VARGAS, Mister Donewell General Services
I would advise those who are looking to start their own business to first come up with a CLEAR VISION AND PURPOSE. Your vision needs to include specifics on who you want to cater to, what kind of product or service you want to provide and how crucial or how needed your product or service is. Then, you have to COMMIT. Make up your mind and commit to your vision and purpose; commit to investing everything you can to making it happen.
Now, to make your business work and thrive, you must know the 4Ps: People, Price, Product and Promotion. These are the basic aspects of any business and you must understand them. Know who your customers are and what they need and want, know the market price and ensure that you are offering competitive prices, guarantee that your product or service is of superior quality and make sure that you strategically promote or market your business.
Lastly, a 5th P for PASSION. Success doesn’t happen overnight; there will always be ups and downs and you will be tested in the first few years. So if you don’t have passion for what you are doing, you might fold and give up. As long as you believe in yourself and constantly challenge your business and your employees to innovate and provide better products and services, success will come. Not right away, but it’ll be right around the next corner.
Faith and best effort, coupled with strategic marketing and complete dedication, is a sure-fire formula to achieving your dreams.
JAN NAVARRO, JN Cacao
Starting up a business is not easy. There are a lot of challenges that will test your patience. We are a product of a business that started from scratch. We believe in the saying: Never give up, always stay positive in all your endeavors and always treat your business a blessing and make it prosper by believing in yourself and putting God in the middle of everything.
JOY COSTELO, Ally Mango
When I started the business I wasn’t really looking nor expecting the business to prod us where we at right now, I think at some level we have gained popularity in the industry here in Cebu. I just wanted to earn sufficient enough to make ends meet. My partner and I were both working in the F&B industry for a few years and that gave us an idea and confidence that the food business is certainly the way to go. We have a multitude of ideas of what kind of business to dive into. But as you know, ideas need funding in order to make that idea happen. Perseverance, relentlessness, patience, and hard work to make that idea become reality. trust your ideas and be confident and don’t be afraid to take risks.
JONATHAN PERNIA, Lola Inda Pancit Palabok
Clear identity of yourself as a brand and focus – as a business you need to have a clear sense of what your brand is. How can you sell something or offer something to your costumers if you don’t know your identity? Once you have this clear identity as a brand next is focus, focus on your short term and long term Goals and what needs to be done to achieve them. Always have it at the back of your mind everyday single day the goals you want to achieve
JOAN PAULA ZANORIA, The Sushi Bowl by Pillows
You should be a consumer of your own product. If you love it then you can make people love it too.
If you are ready to sell your product make sure you present it really well. People eat or shop with their eyes. Food Presentation Plating and Packaging is very important. It puts more value to your product.
Tell the world that you are selling. Take advantage of all the channels where you can cascade information on what you are selling.
Make your audience be excited. Come up with promotional strategies by creating food highlights of the week in other words do not lay all your cards on the table reserve something and release on the right timing.
Collaborate with a supplier or an existing seller where you can expand your reach through social media postings.
Lastly write your Goals! Why are you doing this? What for? For who? At the end of the day your success is “not” measured by how much money you have raised but by “how many people got benefited” as for me I was able to keep my 20 staff happy at work up to this very day.