5 Apr 2019, 09:25 — 4 min read
Let’s take a look back last August 17, 2018 when Globe myBusiness, in partnership with Pep.ph, held a Star Bazaar, which brought together several successful female celebrity entrepreneurs and other prominent celebrity entrepreneurs for a day of great products, inspiring meet-and-greets, and useful experience for current and future business owners.
Held throughout the day at SM Megamall, customers and entrepreneurs alike came for the affordable and varied products, most of which were locally made, and stayed for the expert-led talks by some of the country’s most inspiring business role models.
It's been a while, but some of the lessons we picked up from the event were relevant enough to stick with us. Here are some of the best tips we learned from the women celebrity entrepreneurs:
1. Put time and effort into your business product
As Grace Lee of Kko Kko shared, it’s important to choose the perfect item for your business to sell. She discovered that it wasn’t enough just to be able to cook, and it was a whole other challenge to actually make a business out of food. She added that there is a wide criteria for running a business: there’s the product itself, marketing, branding and other building blocks of the business that you have to take into consideration.
To work through these, she did a lot of research. She defined what she wanted to put up and the image she wanted for her brand, as well as identified her target market. She found something that makes Kko Kko unique and capitalized on that, so that her brand could have an easily recognizable identity.
2. Businesses can help you build relationships
Known from being family-oriented, family businesses are prominent in the Philippines. Examples of these family businesses include Grace Lee’s Kko Kko and Harlene Bautista’s restaurant Salu. When asked about what it’s like managing a business with family members, they admitted that while it can get a bit difficult at times, at the end of the day, it builds trust and communication between family members.
In fact, communication was their first big tip when it comes to working with family. They also added that there should be only one person who has the final say when it comes to decision-making to avoid arguments. Finally, it should be said that even if there is more than one person running the business, if neither of them is business-savvy to begin with, it’s important to have a mentor or guide who can help run the business successfully.
3. Learn from failure
Serial entrepreneur Neri Naig-Miranda shared that success is not possible without the element of failure. By persevering and improving with time, you progressively get better at work, through adversity, and in life.
4. Raising a business requires effort, love, and passion
Pedro N’ Coi founder and Miss Universe-Philippines 2011 Shamcey Supsup-Lee capped off the event with the most important tip of all. As Shamcey stated, starting a business is like having a child. It needs to be looked after as though it has its own life, which you are responsible for. It takes a lot of hard work. There will be struggles that will come your way, but you have to love your business and persist, so that it will succeed.
Entrepreneurs truly had an eye-opening and entertaining time at Star Bazaar. The tips that they learned from these respected celebrity entrepreneurs are sure to lead them to great success in whatever industry they are in.
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Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.
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