You may have noticed the “Reyes Barbecue” restaurants sprouting in various locations in Metro Manila (refer to the previous articles on the Reyes Barbecue Story and the Reyes Barbecue food franchise). Mr. Francisco “Frank” Reyes graciously replied to our request for him to list down some pointers on entrepreneurship, based on his personal experience. These entrepreneurial lessons would hopefully help aspiring Pinoy Entrepreneurs.
1. Maximize your strengths, complement your weaknesses.
2. Think Global. Act global.
3. Don’t marry a nagger. Marry someone who could help you in business.
4. Read lots of books and article about marketing. Marketing is the most essential driving force in any organization. A company that sells something the people don’t need will fail no matter how great their product is.
5. Experience humiliation early in your career so you build more desire to succeed.
6. If you are the youngest in the family don’t allow your elders to join you.
7. Don’t let the years pass without learning. Right after graduation, the following 10 years is where you will learn what you need in your profession. The next 10 years thereafter is the period where you will learn about your business.
8. Spend an hour a day reading. Spend an hour or more documenting your ideas or thoughts.
9. Make an Operations Manual. No matter what your business is resist from giving verbal instructions. Use written so everything is documented. Spend time and effort organizing your instructions for quick access when they are needed again. Business problems follows a cycle, they are repeated yearly.
10. If you were not a born leader. Lead by technical knowhow, industriousness, and people empowerment.
11. Have a simple lifestyle if you want to make your business bigger fast and retire early in life.
There you have it, some tips and words of wisdom from another Pinoy Entrepreneur. Good luck and God bless, everyone.
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August 4th, 2010 at 9:27 pm
[...] after reading the Reyes Barbecue Story or the entrepreneurial tips from Mr. Frank Reyes, you’re wondering what’s the process in securing a franchise for this food business. [...]
February 20th, 2011 at 11:44 am
HI Atty Fred,
Firsly, I want to congratulate you for having a great blog. This post is inspiring. My favorite is the last one – to live a simple life. Humility brings us success, and I can attest to that. Besides, life is is really simple, it’s just not easy. Great business tips, thank you.