Opening a business especially amid such uncertain times can prove to be a daunting proposition. But with sufficient skills, knowledge, and drive, an enterprise can thrive and succeed.
In the exclusive learning seminar provided by Araneta City to its lessees on August 25 at the Gateway Gallery, GoNegosyo speaker and mentor Florlynn Bassi-dela Peña provided insights on entrepreneurial mindset and business planning.
In the session, Bassi-dela Peña gave an overview of the skills, mindset, and attitude a potential entrepreneur must have to succeed in his endeavor. She underscored the value of being prepared for whatever one may face as they plan and eventually establish one’s own business.
“One must have the right mindset when it comes to planning and putting up a business,” Bassi-dela Peña said. “Aside from that, they need to be prepared for whatever that they may face during this process.
They must be cognizant that there are inherent risks that they must prepare for. It’s also imperative that they have a clear idea as to the product that they’ll offer their market, and there should be a solid reason for your business’ existence.”
She also identified a key attribute that all entrepreneurs must have–being observant. She said that by keeping a close eye on your target market, identifying a pain point or a problem they often face, and conceptualizing a solution for it, one can make a business that is at once sustainable and relevant.
Collaboration was also a key theme of the event. Bassi-dela Peña recounted the story of an entrepreneur she helped a few years back. She said that initially he was apprehensive to share and collaborate with another entrepreneur that had the same offerings as him. But down the line, they became strong partners referring business and clients to one another and in the process helping each other grow.
“Our competitor today can be a collaborator in the future, so don’t close doors to other entrepreneurs. Don’t be threatened by each other. Instead, find areas where you can work together so that you can help each other achieve greater things,” she reminds attendees.
Aside from creating linkages, Bassi-dela Peña also shared that putting up a business can be very rewarding and fulfilling. “When we open our own business, we don’t just give ourselves the chance to improve our lives and give a better future for us and our families, we are also lifting up others, giving them an opportunity to make a livelihood for themselves and also extending the benefits to their loved ones as well.”
Meanwhile, Bassi-dela Peña stressed that contrary to popular belief, opening a business is not only for those who have a surplus of resources or those who are well-off. She says that as long as a person has a good idea for a product, coupled with a strong entrepreneurial mindset and the commitment to grow their business, they can succeed.
“Putting up a business is not only for those who have the means. It’s really for everyone. As long as you have the heart and passion for it, you can build a business that is truly your own,” she elaborates.
Finally, Bassi-dela Peña, reminds attendees to always pursue improvement and innovation as this is the key to long-term viability.
“Whether it be utilizing digital marketing strategies or looking at new and faster ways to streamline manufacturing, we must always be on the lookout for ways to improve and introduce innovation into our business. As long as we are doing that we can stay relevant,” she concluded.
The learning session was organized by Araneta City together with J. Amado Araneta Foundation (JAAF) and the Department of Trade and Industry (DTI) for owners and staff of various businesses within the City of Firsts.
Aside from the learning session, the marketing department of Araneta City also shared upcoming plans, and invited the attendees to actively participate in future events and activities at the City of Firsts.
