High poverty, Jobless rate? ‘Build your own enterprise’

CEBU, Philippines - With the country’s high poverty and jobless rate, one way for people to get employed, make money and later on generate jobs is to start their own enterprise.

This is the advice from some of the successful and noted Filipino entrepreneurs who have been brave enough to take the leap of building their own company and show that anyone who wants to be successful can also do the same.

During the Franchising NeGosyo Para sa Cebu event of the Philippine Franchise Association Thursday, they shared their important advices for business success as well as the lessons they have learned in the exciting world of entrepreneurship.

One of the common hurdles, perhaps, in the mind of an individual is the uncertainty as to when to actually start the business.

‘No perfect time’

Jay Aldeguer, the president of Aldeguer Group of Companies, emphasized that people--especially the young ones--should not wait for the perfect time to go into business and not just wait for graduation or for the economy to get better.

“If you have the idea just go on, that’s the most important thing to do,” Aldeguer said. “Just do it.”

He added if an individual already feels that “defining moment”, he must already take the courage to transform his idea and dream into reality. “There’s no better time, just go ahead and do it.”

While entrepreneurship is generally not for all, but everyone can become enterprising with this most important attribute--passion.      

Passion is very important, said Wilson Ng, president of Ng Khai Development Corporation, noting that the field is full of challenges and pleasures as well.

“If you want a trouble free life probably entrepreneurship is not for you,” he stressed for people to have reality check. “But if you like excitement and if you’re willing to stay and succeed, then it is for you.”

Doing your passion

Some people would say that “starting” is not easy because they are extensively surrounded with a lot of business ideas and suggestions from others.

However, Richard Sanz, president and CEO of Food Asia Corporation, has this advice:    “Just find out what you love to do. It’s a matter of finding your passion and purpose.”

This was how Jan Rodriguez, the owner of Cebu-based restaurants Ilaputi and Irie Gastropubliko, started his enterprise--discovering his passion for food.

He shared that one time when he had the chance to cook after being inspired by a cooking show suddenly came and from that situation he discovered that he could actually become a chef and start his own restaurant.

For eatery owners and those individuals who still plans to start, establishing a good “brand” is about offering a wholesome and complete dining experience to the customers, Rodriguez shared.

‘Be relevant’

There seems to be so much competition and volatility in the market whether in food or non-food business. In order for businesses to survive the competition, Ng advised, they “need to remain relevant to the public.”

“No matter how good your brand is but what if you’re no longer relevant to the people?” he asked.

One of the mistakes entrepreneurs mostly commit is offering cheap products with the intention to be patronized by their customers.

But the Ng Khai president noted that while it can be thought of as a little bit of a premium, it’s not always sustainable to be the cheapest in the market.

Getting people

As the business grows, entrepreneurs should already hire good managers or partners to professionalize the operation and increase the competitiveness. Ng further said: “In order for you to grow, you can’t just do it yourself.” — (FREEMAN)