There are a number of awards in the Philippines that recognize Filipino entrepreneurs. One such award is the annual MVP Bossing Awards, which is a contest that seeks “to recognize the country’s leading entrepreneurs – those who continuously work hard by tapping skill, talent and technology in order to succeed in their respective business ventures.” The Awards is a partnership between PLDT SME Nation and Go Negosyo.
If you’re planning to join the 2012 MVP Bossing Awards, with the theme “Heroes of Business and Filipino Pride”, tough luck because the nomination period ended on 30 September 2011. Nevertheless, let’s take a look back and check who were the recipients of the 2011 MVP Awards (descriptions courtesy of MVP Bossing Awards).
Cecilio Pedro (Lamoiyan Corporation). Mr. Pedro, who is also the Grand MVP Bossing Award, used to simply produce packaging tubes for toothpaste. Instead of being devastated when the biggest toothpaste company cancelled its order, Mr. Pedro decided to start his own toothpaste brand. Hapee toothpaste, the leading Filipino producer of toothpaste, was thus born.
Rey and Anais Lapid (R. Lapid’s Chicharon and Barbecue). R. Lapid’s started as a small stall in Quaipo way back in 1974. It has grown into 96 outlets, with a 2-storey plant.
Steve Benitez (Bo’s Coffee). The first Bo’s Coffee outlet opened in Cebu back in 1996 when Filipinos were not yet familiar with the modern cafe concept. It now has 48 branches nationwide.
Sarabeth Salcedo (Baliwag Lechon). Among the few survivors of the lechon manok craze that swept the Philippines in the 1980s, Baliwag Lechon now has 200 outlets.
Bobby and Jojo Claudio (Toby’s Sports). Toby’s started as a toy store in the 1970s, now with 47 outlets, 32 of which are company-owned.
Joe Magsaysay (Potato Corner). With a realization that starting a business is the best way to attain financial success, Mr. Magsaysay and four partners started a food cart business that specializes in French fries.
Cora D. Ong (CDO). This processed-meat company was started in 1975 by Ms. Ong, a nutritionist, with only 2 employees. It now has 2 state-of-the-art manufacturing plants, 7 sales and distribution outlets all over the country.
Federico Moreno and Vina Morales (Ystilo Salon). To start the existing 27-branch salon chain, the partners had to undergo beauty school training.
Bam Aquino and Mark Ruiz (Hapinoy). This social enterprise empowers housewives through sari-sari stores of their own.
Nelson and Siu Ping Par (PR Gaz Haus). Now the leading LPG refilling company, this business started as an equipment supplier in the industry.
Henry Lim Bon Liong (SL Agritech). The company started in 2004, but the research on hybrid rice development started way back.
Annabella Wisniewski (Raintree Group). The group includes hotels, cafeterias in premier offices and restaurants, including MoMo, M Café, Chelsea, and Raintree Foodpark at The Enterprise Center (Makati).
Finding the common trait or characteristic among ALL entrepreneurs would be very interesting. And helpful to those who are predisposed to find their place under the entrepreneurial sun. What is the single secret ingredient common to all successful Pinoy entrepreneurs?
Of course, we can’t possibly undertake such a gargantuan task, so let’s take a little bite of the entrepreneurial puzzle and take a look at the 2011 Bossing Awardees. What can we (that includes you) learn the “bossings” for 2011? First, take a look at the list of the 2011 MVP Bossing Awardees and start the ball rolling.
Success doesn’t happen overnight. When a lot of people falls prey to get-rich schemes, the weakness does not belong to the smooth talker, it is with the victim who wants to, what else, get rich quick. Some work really hard and never get rich, while others never work hard but want to get rich quick. The quick buck. The instant millionaire. A number of the 2011 Bossings started more than 30 years ago. Their success didn’t happen overnight.
Who risks, wins. The explosion of lechon manok in the 1980s or the competition of huge multinational toothpaste companies may have been daunting to the bossing entrepreneurs in Baliwag Lechon Manok or Hapee Toothpaste, yet they took the risk, held their ground, and plowed on. Risk is an integral part in any entrepreneurial endeavor. We might fail big time, but we won’t win unless we play the game. Still, it’s important to characterize “risk” in business. It’s about informed decisions. Management guru Peter Drucker said that business is risky because a lot of “businessmen” do not know what they’re doing.
Master you’re business. Part of managing risk is knowing the particular business inside and out. The bossing of SL Agritech conducted years of research in rice development before registering a related business. One bossing learned the toothpaste business initially as a supplier, the same thing with PR Gaz Haus. Actress Vina Morales and her partner had to undergo beauty school training for Ystilo Salon. Mastering the business means a never-ending pursuit of innovation to stay ahead of the pack.
You might have better ideas or we might have missed something. If you wish to add a great point, please use the comment section below.