Q5: Some companies do not franchise their businesses because of quick ROI and significant positive cash flow. A few have been able to successfully expand quickly. What are pros and cons of this approach? Fruit Magic President Dr. Alan Escalona: A business that wants to increase its market reach and advance its brand value needs to expand rapidly. If the said business […]
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Question 1: Is franchising a better option than starting your own business from scratch? PFA Chair Emeritus & BLIMS President Samie Lim: While it is true that starting a business creates jobs and may even open more opportunities for other businesses, the sad reality – not only in the Philippines but throughout the world – is that many start-ups end […]
A few years ago, I was one of the plenary speakers of the Philippine Center for Entrepreneurship’s Go Negosyo Youth Summit. Let me share the five highlights of my talk on “Grow from Failures” where I talked about many business failures from my early days, some of which I also wrote in my book “The WE Entrepreneur”. 1. I was 23 years […]
Q1: You are an industrial engineer and you started as a methods officer in the finance function in 1977 for Unilever (then PRC). How did this influence your thinking process in your long career in Customer Development? A: Industrial engineering, in my view, is the application of science in business. The professional advance of Customer Development (previously called Sales) from […]
Q1: East West Seeds is the dominant market leader in vegetable seeds in the Philippines controlling majority of the market. How was this made possible in your industry? A: This was made possible by a strong research and development, being close to the market (localized breeding and variety development), understanding the needs of our customers (farmers), excellent technology transfer services and […]
Without a market-driving strategy, a marketing plan focusing solely on the served market is incomplete as it risks losing the underserved or unserved markets (sometimes even bigger than current customers) to other competitors. Thus, market-driving strategy should be viewed as a source of innovation and growth for old businesses as well as a new and major revenue source of firms. Market-Driving […]
Q1: Cisco is number one in 14 out of 17 product categories and a close second in the remaining 3 worldwide in the IT industry. What directions or factors have you identified to attain this remarkable performance? Cisco is the only company with market share leadership across all industry segments that we are engaged in. That is the result of […]
Q1: Why is Private Equity (PE) better than getting bank loans, crowd sourcing or getting friends/relatives as partners? A: PE has its strengths and draw backs and ultimately it is up to the Sponsors/ owners of the business to assess whether they see a fit with an outside party investor and their overall strategy and funding requirement. If the Sponsor is simply looking for low cost credit […]
Q1: You were a La Salle brother for 5 years but decided to be a marketer of P&G, Citibank, Pepsi and Sara Lee, what attracted you to marketing that made you give up a vocation? I did not leave the La Salle Brothers to pursue a marketing career; the latter was coincidental. In 1977, after four years of formation in […]
Don’t celebrate yet – hold that promotion to the next position! Review your expansion plan first. Know that many situations of high sales may not be sustainable. 1. Few Repeat Customers When sales are mostly from new customers with only a handful of repeat customers – you may have lost many customers, accounts, and distributors. Retention is the problem. 2. […]