The son of a French dad and Filipina mom, Erwan Heusaff was just 22 years old when he decided to quit his overseas job and opened up his cocktail bar in Bonifacio Global City.
Armed with an international business degree, he started developing new concepts, and after his first business venture turned out to be a success. He was able to expand and put up eight restaurants.
While he was busy running his businesses, Erwan put up a health and lifestyle blog site, The Fat Kid Inside, as a hobby.
Photo credit: Facebook/Erwan Heusaff
However, the increasing competition in the market caused Erwan’s businesses to slow down. Eventually, he had to close down all his restaurants.
Meanwhile, it was also during this time that his blog site, The Fat Kid Inside, started to gain a following. Applying the lessons he learned from his past failures, Erwan saw its business potential and took the opportunity to increase his engagement with the followers of his site.
The Fat Kid Inside grew in popularity and was able to generate recurring revenues. At present, it has transitioned from a food and lifestyle site into a digital content creator with millions of followers from all over the world.
So, how did Erwan move on from business success to failure and towards success again? Here are his five tips.
Photo credit: Facebook/Erwan Heusaff
1. Establish accountability and leadership within the company
According to The Fat Kid Inside owner, the biggest lesson he had is to create the right partnerships that will ensure that all business partners have specific goals they need to be responsible for. Someone should focus on one aspect of the business, and there should be no meddling. In that way, there will be no finger pointing, and you will know what went wrong and why.
2. Improve skills and gain wisdom
For Erwan, the experience is essential, but having wisdom is more critical. He advised college graduates not to jump into entrepreneurship right away. Find a mentor or go work with a big corporation, as they will learn here how to report things that are important for the investors.
3. Be decisive and a risk-taker.
Becoming an entrepreneur takes courage. One should have his mind and heart into it. Erwan said that there are so many good ideas, and many people may be smarter than you, but it will all come down to the person who is going to work harder. It’s all about identifying opportunities, being smart enough not to jump on those opportunities right away, and to be able to create a sound business plan that will convert that idea into fruition.
Photo Credit: Facebook/Erwan Heusaff
4.Create your platform—one that will provide value to your customers
One needs to understand his market and must know how to deliver it. He or she must realize that his or her customers do not only pay for the service provided but for the provider’s time, effort, and energy.
5.Create and nurture a positive emotion brand connection.
Loyal customers can advocate effectively for your product once they found a brand that gives them meaning. To be able to do that, one has to know who is his or her target market and enable your brand to become their trustworthy partner.
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