Book Review- Introduction to Entrepreneurship: Success Stories of Filipino Entrepreneurs

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  • Thursday, August 9, 2012
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  • Jennifer C. Jimenez
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  • When it comes to business books, Filipino authors rarely came to people’s minds. I find it peculiar since there are a lot of great Filipino authors. Likewise, a lot of brilliant Filipino businessmen surely have both the writing skills and the message to tell.

    Recently, I enjoyed the book Introduction to Entrepreneurship: Success Stories of Filipino Entrepreneurs from the college library. The book provides a preview of the solid experiences of entrepreneurs behind the famous Filipino brands in the country. Interestingly, these Filipino entrepreneurs seem to have particular common grounds when giving pieces of advice to other aspiring money-makers. Also, I’ve had the opportunity to listen to an inspiring talk conducted by Ms. Darlyn Ty, the creator and designer of Belle De Jour Enterprise, whose speech also cites wonderful mental post-it’s for the aspiring entrepreneurs.

    Entrepreneurship is not only for those who want to build their own business empires. Salespeople and business students need to have entrepreneurial spirit if they are to succeed in the sales field or the academe. One must have a certain degree of self-discipline, resilience and business acumen. The entrepreneurs are notwithstanding the best teachers for these.
    Below are the top 3 insights they shared:

    1.      Be prepared to work hands-on.
    Most big things usually start small, and most entrepreneurs are not afraid to get their feet wet on the puddle.  Carson Tan, who made Aquabest the success that it was to this day shared: “If one has to knock on doors to get the business off the ground, this is what the entrepreneur must do”. Accountability and a strong sense of responsibility are highly important. When one is fully engaged at what he or she is doing, then that person will do everything to get the business going. Ms. Darlyn Ty, who has background on publishing, passed through the nitty-gritty work of designing the Belle De Jour Planners, which became a hit especially for female teenagers. 

    Working hands-on also is also vital in character-building. It is easy to become arrogant when one is making money. But business-builders who knew a lot from the very start wear a distinct badge of pride and technical know-how, not a high head puffed with empty arrogance.

    2.      Time management is crucial.
    As it is with housewives, time management also helps in tackling priorities. Building success one business brick a time can be overwhelming, not to mention the time-consuming papers you have to process to register your business. It is also to get lost and be confused, but having short-term and long-term goals, along with a carefully-done business plan will do more help than you may think. A good business plan also has a framework—short-term and long-term plans. Having a sound business plan is essential in getting investors to back you up financially.

    Time management makes more sense if you want to aim for work-life balance. Never forget the reason why you work hard in the first place. After all, money does not define you as a family member or as a person.

    3.      Pursue your passion.
    Playing on one’s strength is a very useful yet worn-out cliché. It is difficult to turn success out of something you’re not even good at, yet this does not hinder anyone from stretching one’s limits and going out of the comfort zone. But once your limit becomes your enjoyment, and then it eventually turns into your passion. Indeed, it is hard to find what one’s passion is, but finding it is often a good investment.

    Pacita Juan, who founded Figaro, is an avid coffee lover and find “more fun than work” in what seems to be her calling. Jerry Erquiza and Ding Hernandez, the unbeatable duo behind Bugong Roast Chicken mentioned, “having gastronomic experience and exposure to different flavors from different places and culture” an edge in setting up a food business. They added, “It is the decision and passion to be an entrepreneur that ultimately makes a successful businessman.”
    If you want to play on a safe level, finding an excellent product or service to franchise is a good option. There are a lot of business entities in the Philippines that are open for franchise. Franchisees provide support and assistance in return for a certain fee. If you are interested in franchising, you may visit Philippine Franchise Opportunities Website or watch out for trade shows in the local newspapers and other publications.

    The is an excellent resource for finding franchises of both Filipino and multinational brands. This portal not only provides tips but also the latest trends and news. For more information on what franchising is all about, the article in this link will be helpful.

    Any endeavor requires equal attachment and commitment. Of course, those tips come into play after one has rigorously done his or her assignment (e.g. market research). There is no substitute for hard work and persistence, but sticking to something that is a failure from the very start will get you nowhere. ;) 


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