This is the second of six posts related to the article entitled, “60 Tips for ‘Trep” by Jimbo Owen Gulle in the August 2012 issue of Entrepreneur (Philippines) magazine.
This batch focuses on the operation side of doing your business.
10 Tips for Entrepreneurs (Operating Your Business)
1. Keep “failing forward.”
- “I have not failed. I’ve just found 10,000 ways that won’t work…I never perfected an invention that I did not think about in terms of the service it might give others…I find out what the world needs, then I proceed to invent.” –Thomas Edison, inventor and entreprenuer
2. Sell it straight.
- “Eliminate the middlemen. Both you and your customer will benefit.” –Michael Dell, computer magnate
3. Pay attention to details.
- “Whether your business is a startup or an established brand, you must be very involved in it. Doing that keeps you abreast with developments and hones you nose for the business.” –Jose E. B. Antonio, president and CEO of Century Properties Group.
4. Treat all customers equally.
- “I ultimately made the decision to cater to the public because after all, my reason for putting up the clinic in the first place was to help the most number of people…Our staff is trained to treat all clients equally, whether they’re famous or not. We are a customer-centric organization – everyone’s a star in our clinics.” –Dr. Vicky Belo, founder of Belo Medical Group
5. Start small, but build relationships with the big guys.
- “Cinderella turned us down. No one would have us. It was such a gray area then – and it still is – about whether it was legal to spoof known brands. No one wanted to be part of the fallout…Cinderella then relented (after Gift Gate accepted consignments of their shirts) and accepted us in their stores.” –Charlie Robles and Drew Marcelo, founders of Spoofs Limited Inc.
6. Master the weather to meet production demands.
- “Production and shipment have to fit a certain window, so we always make sure that we get our products in time for events that are important for our foreign buyers.” –Meshelle Villanueva, marketing director for Shelmed Cottage Treasures
7. The mall isn’t always the answer.
- “Rather than looking for in-mall locations, we prefer high-density and high-visibility areas frequented by our target market. We only need 25-60 square meters of space, but always make sure all our outlets are air-conditioned and clean.” –Teodoro Ferrer, president of Generika Drugstore
8. Turn obstacles in you favor.
- “When you reach an obstacle, turn it into an opportunity…The choice is yours, and yours alone…It is far better to be exhausted from success than to be rested from failure.” –Mary Kay Ash, founder of Mary Kay Cosmetics
9. Grow, and keep growing.
- “Without continual growth and progress, such words as improvement, achievement, and success have no meaning.” –Benjamin Franklin, inventor and politician
10. Do what comes easy.
- “I think a simple rule of business is, if you do the things that are easier first, then you can actually make a lot of progress.” –Mark Zuckerberg, founder of Facebook