Chris Tiu, who is best known for his great basketball and hosting skills isn’t just a star in the sport and showbiz fields but also in the business industry. Tiu is a part owner of Happy Lemon, a decade old milk tea house from abroad.
At such a young age, he has become a successful entrepreneur. What’s the secret, you may ask? The lad has shared through GMA, a couple of tips for his kababayans on how to start a business successfully.
1. Gut-feel is your guide
A small, local business is opened every minute in a tiny corner of a Philippine street. Bakeries, Sari-Sari stores, and gaming cafes are huge here. However, must there a need for you to compete with these standard Filipino businesses or should you design your own?
According to Chris Tiu, it is important that you follow your gut in starting a business.
“I met Eric [Keyser] in one of my trips abroad, and we got to talking and realized that it would be great to bring his creations into the Philippines. It was much like how we had that gut feel about bringing in Happy Lemon, and other businesses.”
2. Take all chances
While he was on a business trip, he noticed a vast field covered with solar panels which intrigued him.
“It made me think about what we can do with clean energy, and how it can help the Philippines. We have so much land in the provinces, and there’s a real need to find a way to lessen the dependency on energy from fossil fuel.”
“We’re taking the steps to bring in more environmental-friendly forms of energy, the Philippines still has a long way to go. But we’ll keep going and take those small steps.”
3. Create the right moment
Jumping into business is a risky move but taking it the proper way may make it less scary.
“There’s a lot in business to consider: if it’s different, if the concept is strong, if the market is ready for it, how the market will accept it, and other things.”
“But even if it all seems to be yeses, there’s still that chance that the business won’t be successful. But there’s also that chance that it will. So rather than waiting for the right moment, you just take the risk and go for it.”
4. Don’t get discouraged with small steps
Many aspiring entrepreneurs may not the huge savings to start with. If you dream of becoming big someday, you have to start small first. Research on the business market, go to business owners and ask questions, look for business partners or make a bank inquiry for loans. Take small steps to build your business’ foundation first.
In order to attract positive energy, you have to stay relaxed and positive at all times. If it fails, accept the fact and learn from it.
“It takes a lot of hard work to get into business, but you shouldn’t be so hard on yourself if it fails. It’s all part of it, and it’s all a learning experience. Rather than staying down, just keep on at it. No guts, no glory, right?”
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