My Learnings in the World of Business

This is my passion. Business. I had a business before catering customizable burgers. It was named “Picky Eaters”. One of the most successfully student owned stalls in Ateneo when JSEC was established. Having hands-on experience with business, forecasting the demand, creating prices, researching about your target market’s demographics - all of these things I learned. However, I also learned more things that the school did not teach me. In this post, I will discuss my experience as an entrepreneur. 

Break-Even Point Analysis

Yes, business is all about numbers. Math is my forte. This is the reason why I am assigned as the Chief Financial Officer of Picky Eaters. Break-even point analysis gives you an idea on how many items to sell so that your business will not render losses. 

But, it does not mean that you hate Math or Math hates you, then you can’t establish your business. One way to find out whether or not you are profiting is to look at your inventory and expenses. 

Are you able to fill-up your required inventory? Are you able to pay rent on time? Do you have budget to pay for your employees? If your answer is yes, check if you have remaining money from your business’ cash box. If again, the answer is there is remaining money, the remaining money = your profit. It means you exceeded the “break-even point”

The Perfect System, Operations Management

In my Operations Management class, I was taught that time is gold and organization matters the most. Indeed, you can obtain data on how efficient you deliver your business to your clients by having an idea on the operation’s time. Do you think you can prepare the “Perfect System” for your business if you do not have adequate experience on it? 

By having my own business, I learned that there should be continuous innovation, meaning you keep on changing until you reach the optimum efficiency for your business. These are not learned from just class lessons or from reading textbooks. These are only learned from actual experiences. By the way, I believe that the is NO PERFECT SYSTEM, but there will always be A BETTER SYSTEM. 

The Best Marketing, Viral Marketing 

Viral Marketing is also associated with “Word of Mouth Marketing’ meaning you let people inform about your business and the products it offers through conversations. One of the major factor why I think our business hit HALF a MILLION in four months of operation is that we have a large network of friends. 

These friends of our, also have a large network, making our business easier to become the topic of gossips. This is the most effective marketing since it can boost your sales. But always remember, still the satisfaction of customers from the quality of products you deliver is the most important.

These are my learnings as an Entrepreneur and taking Business Management MInor in Marketing classes. Ateneo molded me that my career should be directed to become a businessman.