Being an entrepreneur requires more than mere vision or passion. To be one is a combination of hard work, drive, and determination. Its reality is a testament to one’s blood, sweat, and tears. How then can one translate ideas to actuality, and then effectively manage and sustain it? These are the questions we sought to answer in the first ever Pursuit Workshop, which recently concluded last April 21 in Acceler8 Paseo.
Designed to be a mentorship platform where experts and experienced entrepreneurs share their expertise in an open forum, the first Pursuit Workshop set the tone for providing a venue for small-to-medium enterprise owners to ask questions that would cater to their specific needs, and have them engage with guest mentors to find ways to grow their own pursuits.
Here, we gather some noteworthy tips from what transpired in our insightful dialogue, from our colorful panel of seasoned game changers in the world of local food and retail.
Photos by Mong Feliciano
Determining your target market is important
Kyle Concepcion, Regain Philippines and The Nines: You have to determine the market you want to tap. It’s also advisable that you start with a market you’re familiar with, because to enter a separate market you’re not a part of would require a lot of unwarranted effort and time on your part.
Professionalize your business
Jorge Wieneke III, Ateneo Center for Continuous Education: I used to work for the Department of Trade and Industry (DTI), and they actually have more focus on those in the start-up category or the micro-SMEs. Kasi ‘pag sinabi nating tax and DTI, takot tayo kaagad. But I tell you, there are a lot of benefits to that program that is there to protect small businesses. So don’t be afraid to register your company.
Be transparent with your partner
Raymund Punzalan,Team Manila: Dapat plantsado kung ano yung assignments na gagawin ng bawat isa. That is how my working relationship is with Joey, one that’s very clear-cut. Even our accounting is black and white, and we make sure we’re punctual with each other’s deadlines. In all engagements, we also make it a point na naghahati rin kami sa lahat ng bagay na pwede naming ma-attendan para dun sa business. We also have this deep respect for each other, which is why we’re transparent with everything.
Set realistic timelines for each project
Peter Ing, Kuppa Roastery & Café: For each project you’re executing, you should have a timeline or goal, which will serve as your measure for each engagement. It’s pretty important that you set a deadline for what you want to achieve. There’s no one size, fits all solution. But if you’re not achieving it, it’s either you set yourself another goal or you try to address that goal. Keep on reassessing your goals and see to it that you can follow through.
Taking care of one’s brainchild would involve a ton of hurdles along the way, but in the long and winding road, it’s nice to know that there are people that can help keep us on the right track. Those who have been there, done that, and are more than willing to guide us through our roadblocks. This is the goal of the Pursuit Workshop in a nutshell, and we’re pretty excited to give you more of these to further cultivate a community of #BetterLocal.
