Business Mentor: The Evolution of a Successful Entrepreneur

Armando Bartolome

Posted at Feb 23 2019 11:59 AM

There is prestige when a person is referred to as the CEO or President of a certain company. A lot of people dream of climbing the corporate ladder.

But what if you aspire for something bigger like having your very own company? Now, wouldn’t that be a better goal?

I am proud to have met successful entrepreneurs who started out working for other companies. There is Richie Cuna, owner of Fiorgelato, Jeff Chua, owner of Cycle House Philippines, Tess Ngan Tian of Lots A Pizza, Josie See  of Peanutworld, John Chung of Acquasuisse Parfums Jerry Ilao, of Ink For Less, and a host of many.

These entrepreneurs are living examples that anyone dreams big does and do everything that they can to make their dream a reality.

Is it difficult transitioning from employee to entrepreneur?

Yes and no. 

Yes, it is a difficult transition because once you start your own business, you will have many responsibilities. Having sufficient resources to put up a business is not enough. You also need to find the right people who share your vision and most importantly, you need to have the right skills and knowledge about the business.

You practically become tied to your business, and unfortunately, at some point, you may need to be working more than the 8-hour job you once had when you were employed.

On the other hand, an employee who has been exposed to different tasks or jobs has an advantage.

As Jeff Chua shared during an interview in “Just A Minute With The Guru”, because he was able to work in different departments before he became a Vice President of a company, he felt more confident about building his own business.

Imagine Fiorgelato now on its 27th year and its next step is going global, Cycle House Philippines has now 50 branches nationwide! Now, that is what success is all about. They would not have gone this far if they just gave up the first time that they encountered a setback.

Being confident with the product and service that they provide, as well, as knowing how to market their products and services in a way that people would see it as outstanding compared to its competitors may have just been the key to both of their success.

Are You Ready To Take The Plunge?

To become an entrepreneur, you must have full confidence in yourself.  You should realize that it needs more than a budge or a push to become successful. So, how you can make your transition from the corporate world into entrepreneurship?

1.      Realize that it is natural to feel afraid of something new. Starting a business is not a joke. You need to prepare more than your finances. It is important that you are ready to take that journey and enjoy the ride instead of jumping off the first time you hit a rock. Start out with a good plan and slowly implement them. Consider every worst possible scenario and create a backup plan.

2.      Build. Build. Build….your network. People should know what your company is all about and what makes your products and services different from others. By creating good relationships with other people, they not only become your investors or mentors, but they can also become your future suppliers and your loyal customers, as well. Do remember to maintain a good reputation, as well. Because any wrong decision can spread like wildfire in the business since your competitors are after your business.

3.      Knowledge is power. Equip yourself with the necessary skills and knowledge. You are never too old to learn new things, most especially if there are new technologies that can help your business even more. An entrepreneur may not be a specialist, but a jack of all trades. An entrepreneur should update himself so that he can cope with the changing times in the business.

4.      Manage your finances well. No matter how successful your business was a few months after startup, always treat your business as if it had just opened. This will help you better manage your finances so that you don’t go bankrupt after a couple of months. This means using cost-saving strategies. Always remind yourself that the money that you used in starting up the business came from blood, sweat, and tears and that every cent counts.

If you feel like starting your own business, do not hesitate. Seek someone who can give you advice on how you can start your business the right way. You will be amazed at how gratifying it is to earn a year’s salary from just a month of earnings from your own business.

 

For more information, you may contact Armando "Butz" Bartolome

by email: philfranchiseguru@gmail.com

or https://www.facebook.com/philfranguru/

His website is https://www.gmbmsglobal.com