The young De Venecia, known to many as Joey, is presently making waves in the Information Technology (IT) business. His Broadband Phils. company, which began operation less than a year ago, is fast turning buildings in Makati into "e-buildings," making them literally communicate with each other. And he is fighting the bigwigs of the telecom industry in providing the fastest telephone access to corporate clients.
From 24 people who were remnants of the paging and call center company he used to own (he sold it before pagers became obsolete), De Venecia built Multimedia Telephony Inc., which later put up Broadband Phils. The company now has 110 employees working in two offices and it has now more than 1,000 clients housed in at least 90 e-buildings.
De Venecia is looking at putting up a network of 150 e-buildings by year’s end and hitting the positive revenue mark by the end of next year. "We’re meeting our revenue target on a quarterly basis," he says. "We believe more clients would subscribe to our service once they get to experience it."
De Venecia recalls his father taught him the rudiments of good business when he was still a kid. The former Speaker of the House of Representatives was then still a trader involved in discovering oil wells and he allowed his son to work in his company during summer breaks.
The young De Venecia recalls that he worked as a telephone switchboard operator for his dad’s trading firm. His earnings he saved and invested in different businesses. At 11, he purchased shares in his father’s oil company and got one of the most important business lessons from the experience.
"I bought right after the company hit oil in El Nido," he says. "I didn’t make any money. My dad told me that I should have bought before they hit oil, not after. I should have bought when the stock’s prices was still down and sold when it was up."
De Venecia’s old man also allowed him to experience the hardships of life. While studying in the US, he took odd jobs like mopping floors and waiting tables to augment his allowance.
"I really admire my dad as a person and as a businessman," he says. "I have not met anyone who does not know him. In business, it helps to be the son of JDV. Most businessmen have a high respect for him," he says.
Thus, De Venecia employs dozens of engineers and technicians, as well as salesmen who convince people of the importance of high-speed telephone service.
His people work in two offices, one on the 43rd floor of the Philamlife Tower in Makati and another on the 28th floor of IBM Plaza in Eastwood Cyberpark, Quezon City. Both offices are cozy enough to laze around, yet employees seem to be totally immersed in the things they’re doing. They all appear completely sure of their jobs.
De Venecia says this is because he never treats his people as mere employees.
"They are my friends and we are a team here. We provide them with all the benefits, bonuses and the needed tools for them to do their jobs well. And my door is always open to them. They can come to me anytime for their suggestions or complaints," he says.
"It is very easy to get caught up in this rat race that the real valuable things vanish," he says. "You work so hard that, sometimes, you lose focus of the most important things."
One may think that De Venecia’s main goal is to amass millions and to build a company that would crush the country’s telephone giants.
But no, he is more concerned about his eight-year-old son who lives with his former wife, his present girlfriend and their plan to have children in the future. And he thinks of his clients. He treats them not as a source of money but as people he’d like to serve.
"I work hard because I love my work and because it improves my life. And I’m in business because I’d like to help other people improve their lives. I always tell prospective clients, ‘Allow us to serve you,’" he says.
Well, who says being a politician is the only way to serve?