The winning formula

The women of today have indeed become very driven and ambitious, striving hard for success, whether as an entrepreneur or intrapreneur. And you can see this even just with the lineup of entrepreneurs and intrapreneurs who will be mentoring and speaking at the 4th Women Entrepreneurship Summit and Expo on March 2 at the World Trade Center.

As we approach March, which is also International Women’s Month, we’ve asked for the insight of different women who are entrepreneurs and intrapreneurs (or people working for the family business or leading a corporate organization.) The traditional thinking is that the woman should be at home taking care of the children and making sure the home is running well; while the man goes out and works. Many women today are micro and small entrepreneurs because they try to perform both functions as mother and negosyante, having no fixed schedule so that she is able to fulfill her multiple duties.

We asked several successful women to share with others what they think is the winning formula for a woman to achieve success, whether as an entrepreneur or intrapreneur. These are what they have to say…

First, I believe that Filipinos are very entrepreneurial; so going into business for oneself comes more naturally.

Second, I have always believed that my biggest asset is being a woman, and next is being Filipino; and I use both as an advantage to the business I started.

I would say that one must have a niche and a reason for being to be successful in a business. A point if differentiation is critical to a business!

Lastly, one must have a vision and work hard to get there! – Josie Natori, international fashion designer and CEO of The Natori Co.

I think the winning formula is a combination of hard work, good people and good strategy. You must always think of providing better and better service to the customer. Most of all, one needs to enjoy one’s work and really see it as a personal contribution to the community. – Patricia Echauz – Chilip, president of Standard Insurance

My winning formula has always been a market-based strategy. I did not hesitate to discontinue certain brands when I felt that it didn’t have much future. Being flexible and quick to change makes me more effective in dealing with the ups and downs of high-end fashion retailing. I rely a lot on my instincts and insight when forecasting which styles of clothing will sell. I do my own fashion “research” by observing how fashionable women and men carry themselves. I also browse a lot of fashion magazines and also get tips from friends. Success without profits cannot sustain a business. Knowledge of accounting is vital to me. It enables me to know the financial impact of every major decision I take. – Alou Koa, president of Euro Mode Inc.

I believe the key to success is to keep trying new strategies and to maximize operational efficiency. Achieving operational efficiency is important because it will help you increase productivity. I try to achieve operational efficiency on a daily basis coupled with customer satisfaction. Without customers, you cannot generate revenue. Without operational efficiency, you cannot generate income.

As an entrepreneur, I am never willing to settle for anything less than the best. I try to be a good leader by knowing the strengths and weaknesses of my team then I utilize each member’s strengths to help the business move forward. I am constantly tweaking past actions to come up with a winning formula. I love to multi-task and micro-manage and am not afraid to try new strategies to push my company to different directions. Because we are the in the QSR business, we take pride in following FSC standards to the highest level. – Sharm Hiranand, managing director of the Hiranand Group

I think in my experience, the moment I started any business, my mind and thoughts were set.  I set it to a positive, decisive and successful mode.  Meaning no matter what I encounter in my daily operations, it will not affect my thoughts, I will not give up, I will not think of blaming myself or others for mistakes. 

Same as when you try to climb the highest mountain, you like to reach the top.  Along the way, you may encounter animals or bad weather, but you never think of going back.  You focus, and work to overcome all these no matter what.

But above all, I ask God to take control of everything. He guides me in everything and helps me to be stronger and to not give up. – Florence Ko, founder and managing director of Furnitalia

As an entrepreneur, I believe in the universal formula of hard work and dedication. In my years of experience, those two never fail to work, and it follows for all the people that I handle under me. As a growing company, I have learned to rely on people who have the same potential to focus, and have the vision and dedication to move the company forward.

I also believe greatly in being hands-on even with small details, because I know that if I am able to handle this in that level, I will only be more effective in seeing or handling the bigger things.

Also, I have learned that being prudent and frugal are also important, because this practice had helped us sustain growth and survive the volatility of the business world. – Beng Dee, COO-fast food division, Foodlink Group of Companies

The 4th Women Entrepreneurship Summit on March 2 is open to the public, and women, students and teachers can come in for free. Registration starts at 8 a.m. on the day of the summit itself. Visit www.gonegosyo.net for more information.

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Congratulations to Go Negosyo trustee Felix Ang for his newborn baby Francesca Grace “Gia” H. Ang. After 17 years, Felix and his wife have finally been blessed with Gia, who was born yesterday morning, healthy and well at 6.7 pounds. Gia is sure to follow in her father’s footsteps and be the next dragon lady.

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We’d like to send our deepest condolences to Benguet Corp. CEO and Chamber of Mines of the Philippines (CoMP) president Philip Romualdez and his family for the death of his father Benjamin “Kokoy” Romualdez, the former governor of Leyte.

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Contact: [email protected].