Some Business Opportunities for Filipino Entrepreneurs
There could be gold all over the horizon if you just look.
Article by Dalisay L.
As a Filipino, there are many possibilities available to you; all you have to do is open your doors to them. They may be pounding on your door, but you have yet to greet them. Don’t get so caught up in the corporate prospects that the majority of people pursue. This may be the safe route, but safe routes do not always lead to green pastures… or gold mines.
Filipino entrepreneurs are often described as libertarians who are averse to taking chances. But, as it turns out, we also have to dig into the unseen and untested before we uncover the best opportunities for us. We must sometimes wait and be vigilant in order to get what is being offered to us.
There are just too many prospects for any aspiring entrepreneur to take advantage of. Though there could be an overflow, there are far too few who actually excel. Well, performance is a complex problem that requires a lot of variables that arise at various times and in different ways.
Some Filipino pioneers have toiled for their entire lives in pursuit of success but have come up empty-handed. They put in incalculable effort and effort into businesses they thought would succeed, but success seems to have eluded them. Others, on the other hand, are more fortunate. Their only conditions for moving from point A to point B are a little bit of creativity and a little bit of risk taking.
We can’t completely describe how we’ll get from one location to another. The truth is, we need to decide what we really want for ourselves and go after what is rightly ours. Entrepreneurs are often duped into thinking that a market opportunity is right for them when, in fact, anything else would work better. It’s just a matter of locating your vein. Finding out what you’re good at or have the ability to be good at.
There are as many diverse kinds of business prospects for different Filipino businesses as there are different personalities. We must actually look at our own abilities and strengths in order to find ideal combinations for modern trends.
We can’t discuss individual problems here, so we’ve assembled a list of some of the hottest trends among business owners that you may find interesting. We’ve even added a few short conversations on them. The following are a few examples:
Filipino entrepreneurs with medical experience will start a healthcare firm.
If you have enough benefits and experience running companies that deal with hospitals, nursing, and medical professionals, you may want to start a caregiver service. Care-giving is a great trend because it has exploded in popularity in the last year, coinciding with the rise of the baby boomer generation. This form of company necessitates further preparation and certification, which can be achieved within 9 months of beginning operations.
Filipinos with a knack for writing may start an online writing company.
In recent years, the internet has grown into a market pool. Broods of entrepreneurs have unquestionably arisen as a result of the growth in websites providing MLM opportunities and internet trading.
The literary industry is one of the few that has grown in importance. The issue stems from a scarcity of decent writers and the need to keep the market flowing.
Website owners have recently considered using articles to advertise their pages, both for analysis and to market their wares. This provided a steady stream of buyers for the firm.
Obviously, writing is your strong suit, and you’ll need to be resourceful in your quest for talented authors. The company is profitable, but there is a lot of competition.
Trend Setters’ Trading Assistant on Auction Sites
Due to the continuous increase in sales and services on auction platforms, a large number of people are now expected to manage them and keep things running smoothly. People selling on auction sites should familiarize themselves with the procedures involved. You will break into them as an entrepreneur and create a pool of trading assistants to offer services for auction sites such as ebay.com and amazon.com.
Shops that sell scrapbooking supplies to Filipino scrapbookers
Scrapbooking has proven to be a rapidly expanding industry. It has also surpassed golf in terms of success. Scrapbooking stores sell a wide variety of items, from bottle caps to paper to markers, and all in between. You might try this if you like scrapbooking or if you want to start a business that is both enjoyable and easy. However, as like any other company, you must be willing to take risks such as management failure or unexpected problems.
That’s all there is to it; these are only a few of the most common market openings for Filipinos these days. There are plenty more; all you have to do is be able to take a gamble to join their territories.
Famous Filipino Entrepreneurs: How to Lead the Philippines
We’ve fallen well behind now. And until people help restore a world that once promised an “empire,” we’ll continue to fall behind.
We were once on par with the countries that have now come to be known as Asia’s “greats.” We’re now trying to find a way out, considering the fact that they’ve all past their prime.
Many Filipinos are pessimistic that we’ll make it, given the common desire to globalize and compete with the BIGS and POWERFULS. Well, it’s time for us to wake up and retrace our steps back to where they were before. And as obstacles fall in our path, it’s easier to believe that we’ll have to work much harder than we had expected.
Filipino entrepreneurs would have to spend their money on products that need urgent assistance under the latest trends. This does not imply that we must take on the role of saviors for our world. Nonetheless, it is common sense to concentrate on the most productive tasks.
Despite the increased chance of not getting through, famous Filipino entrepreneurs have summoned the courage to take them.
It is difficult to do business in the Philippines. For so many economic ups and downs, as well as uneven success and loss, it’s natural to give up when the first storm hits. Those who have made a name for themselves as risk takers, though, have forced their eyes open to invest in a nation that is on the decline. Is it worth saving? Quite likely. But it’s all about unearthing the country’s latent promise. And there are a lot of them. They are the only ones that are covered.
Many of the world’s most successful Filipino businesspeople were once young people with big dreams. They tuned into the premise and exploited any and all resources to bring it to life. They all took the initial chances, and they most certainly learned from the beginner’s luck. However, the first run of good fortune was just fleeting. Then came the dangers, which almost took them to their knees. Then they compelled themselves to forego creature comforts in favor of hardy lives that would later become the backbone of their company.
The companies that encouraged other young entrepreneurs to follow in their footsteps and brought hope to others who had previously felt helpless. They have created careers that are so widely successful that they have given young entrepreneurs fresh hope.
Famous Filipino entrepreneurs aren’t famous because their names appear in magazines or because they appear on talk shows. They became well-known and they helped people find work.
Jobs act as vehicles for instilling in other Filipinos a sense of value and self-esteem. This produces more active individuals who can aid in the reconstruction of a society. And the employment that they were able to create paved the way for our nation to once again become a participant in the global economy.
Famous Filipino entrepreneurs have developed the potential to harness people’s imagination and modify their skills for mutual benefit. They fought for the country’s progress.
Progress is slow, and it is extremely slow. Almost nothing is different, with a few exceptions. In reality, the moguls are still those who ascended to the throne prior to the battle.
The Philippine capitalist class may not be as powerful or as revitalized as those found in other countries. We may be frail. It’s possible that we’ll be left behind. But the fact remains that, considering all of the challenges we face, including those that are dragging us behind, young entrepreneurs remain optimistic about doing business in the Philippines.
Famous Filipino entrepreneurs were once the ones who defied the odds. They were the people who invested in revolutionizing things and developing programs that were tailored to our needs.
They may have been influenced by the classic tale of being a poor boy or girl who had the confidence to take chances and venture into the unknown. They perfected themselves as well as some in the way. As a result, they excel. That may be the blueprint for becoming a well-known Filipino entrepreneur, but it can be translated in a number of ways. The desire to take chances and assume leadership in order to direct oneself and others toward the greater good is essential to such tales.
Famous Filipino Entrepreneurs: Their Key Qualities That Spell Out Success
When asked what they want to be as they grow up, many young people say they want to be billionaires instead of winning awards, being famous athletes, or being famous scientists. What happens to the youth of today? They can’t be blamed, after all. Life has been much too hard over the years, and it is only normal for people to choose to accumulate their billions while they have the opportunity.
According to estimates, over a hundred thousand people raise millions of dollars per year in the United States alone! The overwhelming majority of these people run their own enterprises. Simply coping with the crisis, these people have begun working on their own business projects in order to collect their earnings on schedule. Isn’t that any kind of inspiration? So, if you want to be a millionaire, learn how to workout for a worthwhile investment! It’s something you will really do. If you have enough money and your marketing plans are well-organized, as well as the right mindset, you should expect profits to start coming in right away. Aren’t you enthralled by the situation?
Okay, now you’re ecstatic. However, there are many dangers inherent in being an entrepreneur. It isn’t a simple mission, to be sure. Keep in mind that not everyone is able to be a good entrepreneur because they are not born with the capacity. You may be incredibly wealthy, well-known, and powerful, but if you lack the qualities required to be competitive in industry, you will be unable to accomplish your goals. You are unlikely to be able to reverse your fate.
Who said that only Americans are capable of becoming famous entrepreneurs? Do not discount the fact that Filipinos are resourceful, persistent, and willing to become millionaires in their own right. As a result, when it comes to prominent entrepreneurs in the Philippines, there are many names that can be listed. So, what distinguishes them as well-known and successful? Of course, they would not be branded with such a name if they did little to improve their corporate reputations and pictures.
Here are some distinguishing characteristics that have made them popular and successful:
Top 10 Successful Entrepreneurs tactics
It’s just common sense. Not all Filipino entrepreneurs have received the highest education from the best universities. There are others who have never yet finished their degrees but are currently on pedestals. Their common sense plays a critical part. In reality, a person’s common sense is a solid basis for his performance.
Common sense is described as the capacity to make sound decisions in such situations. When faced with the harsh realities of life, Filipino entrepreneurs attribute their good judgement to their prior encounters and learned or stock knowledge:
- Clear understanding of the subject. Starting a company that is in line with one’s ambition, experience, and skills would most likely be easy. How does an entrepreneur make choices if he has no idea how to run a company?
- Self-assurance. Being self-assured helps a person to face the obstacles that life throws at him. If an entrepreneur loses confidence, he can be easily stifled by the challenges he faces. Despite the fact that there are no promises in industry, mistakes must teach the entrepreneur a valuable lesson. And if there are setbacks, an entrepreneur must still be prepared to rise to the occasion.
- Having Things Done is a term that means “getting things done.” Filipino entrepreneurs are known for their hard work and perseverance. Once everything has been prepared to begin with, it must be completed all the way around. Self-discipline is also something that must be learned.
- Being creative. Filipinos are renowned for their resourcefulness as well as their creativity. They will, in effect, make valuable things out of garbage. Filipino business owners are inventive when it comes to marketing and management strategies.
- Ability to lead. How can a company run smoothly if its employees don’t follow the proper procedures? In terms of leadership, an entrepreneur must be a role model. He must be able to persuade and motivate others to take action.
- Self-sufficiency Filipinos may have a tendency to be overconfident, as perceived by others. However, as well-known Filipino entrepreneurs have shown, they are capable of taking full responsibility for their actions. They know how to believe in themselves and make fast decisions.
- Overall, Filipino pioneers are well-known and they are one-of-a-kind.
Top 5 Successful Filipino Entrepreneurs
1. Henry Sy, Shoe Mart
Henry Sy, Shoe Mart
SM is much more than a retail center. It’s a well-known institution. SM is where I have a lot of my favorite memories. SM has it all: shopping, blockbuster movies, date night, ice hockey, and food tripping.
This massive chain of over 44 large-scale shopping centers in the Philippines and across Asia, on the other hand, had modest beginnings.
Henry Sy was born into a poor family in Jinjiang, China, a town near Xiamen. In 1936, the entire family left China to assist the family patriarch in running a successful grocery store in Manila.
Sadly for the family, their shop was devastated by fire during WWII. However, Henry, being a businessman, saw a chance to market used military battle boots and other wartime items obtained from helpful American soldiers!
As a result of his popularity, he opened his first shoe shop, the SM in Avenida, Manila. Henry had trouble identifying shoe makers that could produce shoes to his standards, but he endured. He spoke to consumers and established his own supplier and dealer network.
Henry Sy is also one of the world’s wealthiest men and a world-class shopping center developer who offers jobs to both developers and the middle class thanks to his never-say-die mentality!
2. Tony Tan Caktiong, Jollibee
Tony Tan Caktiong
Prepare to be motivated by the guy behind the franchise if you felt you just liked The Champ and Chicken Joy.
Tony, who comes from a Chinese immigrant family, learned the importance of hard work and commitment from his father, who served as a Buddhist temple chef. Tony’s father used his money to open a Chinese restaurant in Manila so that he could send his son to college.
Tony purchased a Magnolia ice cream parlor in 1975. However, it was not bringing in enough revenue. Tony wanted to put tacos, fried chicken, and French fries on the menu after speaking with his clients and neighbors. Over time, the restaurant got cramped to the point of overcrowding.
Tony had opened six more restaurants by 1978, but the emphasis was no longer on ice cream. Tony then wanted to adapt the McDonald’s idea and called his chain after his “busy as a bee” work ethic.
Jollibee currently has over 2,500 outlets in the Philippines, as well as locations in the United States, China, Saudi Arabia, Vietnam, Singapore, and Brunei.
3. John Gokongwei Jr., JG Holdings
John Gokongwei Jr
John’s life is a classic “rich-to-rags-to-riches” story. John Jr. is the scion of one of Cebu’s richest families. He was born in China.
When the father died, the company died with him, and the family wealth was quickly depleted. John Jr. provided for his family by peddling things on his bike across Cebu’s streets. He was soon selling commodities by boat to Lucena City and by truck to Manila. He eventually began purchasing goods from the United States.
John Jr. rapidly discovered that importing was fraught with difficulty and poor profit margins. As a result, he borrowed Php 500,000 from China Bank in 1957 and founded Universal Corn Products, a corn milling company.
Universal began diversifying its product portfolio in 1961, introducing many well-known products such as Blend 45. The firm was renamed Universal Robina Corporation from Universal Corn Products.
The Gokongwei family now operates a number of profitable and well-diversified companies. Robina Land Corporation and Cebu Pacific are two of them.
4. Socorro C. Ramos, National Bookstore
Socorro C. Ramos
Remember to thank Ms. Socorro C. Ramos the next time you go shopping for new school supplies and textbooks!
Her story is perfect for a telenovela, and I’m shocked the networks and studios haven’t picked it up yet. What do you make of this as a story teaser?
In Manila, the girl’s brother marries the scion of a rich bookstore owner. At the age of 18, the girl gets a job as a saleslady and meets and falls in love with the owner’s son; therefore, he is practically her in-law! Their parents prohibit their daughter from dating and send her back to the province. However, their love is so intense that the girl and the boy defy their parents, marry, and have children.
The boy and the girl take over a branch and rename it National Book Store. However, the shop is lost when a war breaks out! They reconstruct the shop, but all is suspicious because it is “questionable.” They move the shop to Avenida, but a hurricane damages their roof as business picks up. They reconstruct the store soon after, using every centavo to construct a nine-story National Book Store. In our days, National Bookstore has grown to over 100 stores.
5. Cecilio Kwok Pedro, Lamoiyan Corporation
Cecilio Kwok Pedro
Cecilio’s story isn’t the traditional rags-to-riches tale; rather, it exemplifies the entrepreneurial spirit of defying seemingly insurmountable odds.
Cecilio used to be the president of Aluminum Container Inc., a company that produced aluminum toothpaste tubes for Procter & Gamble, Philippine Refining Company (now Unilever), and Colgate-Palmolive. His customers, though, have switched to plastic-laminated toothpaste tubes due to environmental issues. Aluminum Container Inc. went out of business in 1986.
He founded Lamoiyan Corporation and began producing toothpaste at a 50% discount to his rivals. Hapee and Kutitap, two still-popular brands, were among them. While international brands retaliated by reducing their prices by 20%, Cecilio replied by launching a children’s toothpaste featuring Sesame Street characters.
Cecilio’s brands have spread across Asia, including China, Vietnam, and Indonesia.
Cecilio’s biggest achievement went beyond production. He’s also known for his work to help hearing-impaired individuals seeking work in the United States.
His initiatives include providing free accommodation for more than 30 deaf–mute employees. DEAF, or Deaf Evangelistic Alliance Foundation, has provided college education to more than 180 hearing-impaired students to date.