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Entrepreneurs doing biz in the Philippines

  

Entrepreneurs doing biz in the Philippines

Companies developing tech-based solutions for consumers in emerging markets sea the Philippines as a land of opportunities and a testing ground for products and services with potential for global scale. The Filipino economy has grown exponentially in the last decades and market is a cross between the Western world and Southeast Asia.

Thanks to the economic growth, Filipinos middle class have access to technology. That and investment have helped made the country attractive to foreign investors. A recent market study showed that Filipinos have some of the world's highest levels of online brand engagement, growth in internet penetration, social media account usage, and other indicators of digital uptake. These trends make the Philippines a promising market for tech companies of all types.
As the country's tech and startup ecosystems are growing, the number of entrepreneurs are also increasing exponentially. How could anyone resist if the Philippines have become a breeding ground for start-ups that succeed fast and reach the billion mark within a year. That's every entrepreneur's dream: the promise of growth. Most entrepreneurs have succeeded in the Philippines in the past decade.
Although most entrepreneurs have succeeded and the Philippines is in fact a great place to start a business, that doesn't mean that it is easy. Before you venture into starting your business there, you should prepare yourself and once you start, you must keep going because businesses require all of your energy, otherwise they won't succeed.
An entrepreneur's success does not only depend on hard work and luck, but also on an entrepreneur's vision for the company and the choices he/she makes. Here are some lessons you can learn from successful entrepreneurs doing business in the Philippines.
“I don't believe in luck. Believing in luck also means believing in bad luck, which often leads to excuses.” - Nix Nolledo of Xurpas.
“No matter how experienced or otherwise, always seek out other entrepreneurs and pick their brains extensively. I've never not learnt something from taking up opportunities to speak to guys who have been there, done it, bought the T-shirt and lived to tell the tale!” - Bruno Araujo of iMoney.
“Don't be afraid to have a target on your back. It means you are walking in front.” - Farouk Meralli of mClinica.
“Have nerves of steel, a heart of gold, and the grit to never stop until you get that one yes after 99 nos.” - Chow Paredes of Zipmathc.
“Logically speaking, this should be the mindset of your startup. Make your sales first, proposals second, fulfillment third, collateral fourth, and business cards last.” - Clayton Wood of TrueLogic Online Solutions.
“The only reason why I have successful businesses is because I had more failures. The vast majority of people are not Bill Gates and Steve Jobs. Almost everyone is always wired to make mistakes. I see failure as a fine tuning of your entrepreneurial journey. The next attempt is always much better. You must view failure as a friend or teacher.” Jojy Azurin of Freelancer.com
“Understand the difference between a shortcut versus the right path. It's crucial for everyone to realize at the onset of any project or venture that although shortcuts seem to be a quick win, nine out of 10 scenarios will have repercussions in the long run.” - Ralph Santos of VMoney.
“No amount of education, talent, intelligence can guarantee your success. Many of the educated are in disarray, many of the talented are ignored, and many of the geniuses are disparaged. Passion, determination, and perseverance will warrant your success.” - Aisa Mijeno of SALt.
“Be honest. People respond to genuine people. When you say what's really happening, people will help and support you. Also remember: the startup community is really small. News travels fast.” - Valenice Balace of Peekawoo.
“You have to know your own strengths and weaknesses. It may seem obvious, but in explicitly identifying your capabilities, you open yourself up to new learnings and partnerships that will help you in your goals.” - John Bailon of Satoshi Citadel Industries.

 

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