Financial Adviser: 5 Business Lessons Everyone Can Learn from Anna Magalona-Go, Founder and CEO of But First, Coffee
ILLUSTRATION: Igi Talao
In 2020, when most people were just trying to survive the lockdown, Anna Magalona-Go quietly started building a dream. With no formal F&B background, no espresso machine, and no staff—just a basic coffee maker and a love for Bacolod-style brews—she began selling iced coffee online.
From that tiny start, But First, Coffee was born. Today, with hundreds of branches and a growing fanbase, her story proves that you don’t need millions to launch—only courage, execution, and the willingness to learn every single day.
Hailing from Bacolod City, Magalona-Go completed her degree in Marketing Management at the University of St. La Salle in 2016. Her early career path took her to Manila where she held roles in sectors such as accounting (SGV), IT, and fintech.
Amid the uncertainty of the COVID-19 pandemic in 2020, Magalona-Go identified a gap in the market: the lack of affordable, quality coffee in Metro Manila compared to her Bacolod roots.
With only a household coffee maker and no barista experience, she started experimenting with brewed coffee and condensed milk, which would lead her to launch But First, Coffee from her apartment in Makati.
Despite contracting COVID in the early months, orders continued to pour in, and by late 2020, she had already opened a kiosk at her condo in Makati. Expansion quickly followed in other areas through strategic partnerships until she resigned from her job in 2021 to focus on her coffee business.
In just three years, But First, Coffee grew from a kitchen startup to a nationwide brand with over 213 branches by 2024, making it one of the fastest-growing coffee chains in the Philippines. Built on a foundation of affordability, accessibility, and community-driven marketing, the brand carved out a loyal customer base in a highly competitive landscape—without the backing of a large corporation or major capital.
Magalona-Go’s entrepreneurial journey is a playbook for modern Filipino founders. She blended hustle and strategy to scale a neighborhood iced coffee concept into a national brand.
How did Magalona-Go transition from a home-based operation to a physical retail presence in such a short time? What strategies did she use to grow But First, Coffee from one kiosk to over 200 branches across the country?
Here are the five business lessons everyone can learn from Anna Magalona-Go, founder and CEO of But First, Coffee:
ALSO READ
1| Know how to recognize a market gap and fill it with the right product
Underserved markets are often overlooked by larger companies, which leaves plenty of room for innovation and less direct competition. When a business enters early and solves a real, unmet need, it can capture customer loyalty before others even recognize the opportunity.
This kind of market isn't empty because there’s no demand. It’s typically underserved because existing players haven’t addressed the need effectively. Designing the right product for this audience often leads to faster adoption and stronger enthusiasm from customers.
People in these markets frequently feel neglected or priced out, so when a product finally meets their needs at a price and format that works for them, they’re far more likely to become loyal customers and help spread it through word-of-mouth.
From her early years in Bacolod, Magalona-Go already showed signs of entrepreneurial thinking. While she took the traditional route by earning a degree in Marketing Management in Bacolod and moving to Manila in pursuit of career opportunities, her mindset remained opportunity-oriented.
Each role she took equipped her with cross-functional skills and experience that gave her confidence and clarity in business structure, even before she launched her own.
The turning point came during the pandemic. Amid mass layoffs and economic uncertainty in 2020, Magalona-Go was gripped by anxiety over job security. But instead of panicking, she used that pressure to reframe her mindset and move toward action.
This mindset shift led her to revisit something familiar: the low-cost, good-quality coffee culture of her hometown. She saw the gap not just in pricing but in accessibility and relatability: everyday consumers, especially young professionals, didn’t have a go-to coffee option that felt both high-quality and affordable.
“I graduated in 2016,” she says. “I came from Bacolod City. I studied at the University of Saint La Salle and my course was Marketing Management. When I was studying, parang I had this entrepreneurial mindset na talaga so when I graduated, two weeks after, lumipad ako dito sa Manila to look for opportunities.
“I started at SGV—pero hindi ako accountant, I was a Resource Management Associate. My job was involved in scheduling CPAs for the clients of SGV. I was there for around eight months, and then after that, I transferred to the IT industry. I worked for a software company wherein we were one of the product specialists. We sold software to clients. I worked there for two years.
“And then I transferred to another company, which was a payroll software company naman. It was more on the Fintech side siya. I worked there for almost three years na rin. I was a project manager ng loans.
“In that company, I learned a lot in terms of working with several departments and several industries. I’ve worked with lenders, I worked closely or directly with the CEO before, and I also worked with lawyers. So I think that job gave me the opportunity to equip myself with what I needed before starting a business.
“And then the pandemic came. Everyone was working from home, and parang maraming nala-lay off. I had this uncertainty na baka ako next. Kasi no one knows—everything was really dependent on the status of the company.
“Grabe yung anxiety ko noon kasi hindi ko alam kung ano yung gagawin ko. Lahat losses noong 2020 eh, majority talagang loss. Hindi alam ng mga tao ang gagawin kasi challenged na sila sa work nila. Anong mangyayari? May challenge pa sa health and all.
“Tumawag ako sa dad ko. Sabi ko, ‘Dad, grabe yung anxiety ko.’ Sabi niya, ‘Manood ka ng The Secret sa Netflix.’ Yung The Secret na movie—parang it's more about the law of attraction, that your mind is very powerful. If grabe kang mag-overthink, then overthink the positive. Overthink what's the best that could happen and what you really want to happen.
“So at that time, I just wanted to have a stable source of income. Gusto ko lang na mawala itong anxiety ko. So kung ano yung napanood ko, tina-try ko lang i-apply sa self ko. Sabi ko, ‘Sige, wag kang mag-entertain ng any negative thoughts. Just focus on yourself, focus on what you do.’ Then, weeks after, napag-isipan ko na i-push yung online coffee business.
“Kasi mabilis lang gawin yung coffee. Gagamitin mo coffeemaker lang. Kasi nung nasa Bacolod ako, maraming coffee shop. Mga P30 yung mga coffee don, masasarap na. Brewed coffee lang tapos condensed milk.
“Hindi ako marunong gumawa, wala akong experience na barista. Nag-Google lang ako tapos, since coffeemaker lang naman siya, marunong akong gumamit ng coffeemaker. Bumili ako ng coffee sa Shopee. Online lahat, parang come what may lang. Diskarte-diskarte lang. Nag-experiment ako. Inadjust-adjust ko lang siya sa ratio na gusto ko.
“At that time, I just wanted to have a back-up plan, just in case. Kaya I started to venture into online coffee shop idea. Also, there was no affordable coffee back then here in Makati. It was always the big chains, so it was hard for young professionals to grab a good cup of coffee without breaking the bank. So I wanted to offer good coffee at an affordable price. The business was more of a home-based setup and I just maximized everything online, using Facebook and Instagram lang—dun lang ako. I grabbed those opportunities to be present there and build a community.
“While there were other coffee chains in the industry, the market gap I wanted to address back then was to offer free delivery service, and to offer a good cup at affordable price points. So that’s how But First, Coffee was founded with that kind of setup.”
2| Know how to gain market traction with minimal risk
Many entrepreneurs fall into the trap of pouring large sums of money into a business idea before proving product-market fit. But without evidence of real demand, even the best-funded ventures can falter. Taking a lean approach instead allows you to adapt quickly and avoid costly missteps.
By starting small, you give yourself more flexibility to iterate, correct mistakes, and evolve based on real customer feedback. This reduces the pressure for instant success and gives your business the time it needs to grow with direction and purpose.
When budgets are limited, you're more likely to focus only on what drives value—like product quality, customer experience, or efficient marketing channels. You cut out vanity spending and instead prioritize what gets results.
Most importantly, testing small helps you confirm whether people actually want what you’re selling. Whether through soft launches, limited-run products, or online pre-orders, this method gives you measurable insights into customer behavior—before expanding operations.
Magalona-Go’s early approach to building But First, Coffee demonstrates a textbook example of how to start small, validate demand, and control capital risk while gaining traction.
From the outset, she was fully aware of her financial limitations. With only P6,000 in savings, she made a deliberate choice not to borrow or overextend herself. Instead of aiming for a polished, high-investment launch, she chose a lean, low-cost entry—a home-based coffee operation using only a household coffeemaker and ingredients sourced online.
Her strategic thinking was evident in how she positioned the product. She identified two pain points: (1) the lack of affordable coffee in Makati, and (2) the logistical restrictions during lockdown. She addressed both by offering free delivery, tapping into Facebook community groups, and partnering with local delivery riders. These moves allowed her to bootstrap growth without fixed overhead.
Despite tight margins, she accepted lower profit per cup in exchange for greater visibility and trial. Her willingness to trade short-term gain for long-term growth reflects strong entrepreneurial foresight.
Even when she set up a small physical kiosk, she again kept risk low by choosing a co-leased setup to share rent expenses with another struggling business. This cost-sharing model allowed her to stay nimble while moving closer to street-level exposure.
By proving demand through online orders and validating loyalty through repeat purchases and customer messages, she was able to justify and finance the gradual physical expansion of her brand.
“When I entered the coffee industry, I started with just P6,000,” she says. “The challenge back then was the lack of financial resources. I didn’t have much savings, I didn’t want to borrow and the P6,000 was the only budget I could allot. It was more of a calculated risk rather than risking everything that I had kasi hindi ako sure—what will the outcome be? So I took a calculated risk, kahit papano.
“Back then, lockdown pa pero nagta-thrive yung GrabFood—yung food deliveries were thriving. Thriving din yung mga barter deals online—yung mga groups wherein you can barter, let’s say, magta-trade ako ng table for a certain sofa. Parang ganon? So, it was uso back then.
“I was active in those communities. Nagpo-post ako sa mga groups. Maraming groups kasi sa Facebook dati, yung mga Pio del Pilar, mga local barangays, may mga sari-sarili ding groups. Kasi dati, yung mga groups nagtutulungan, naga-update kung anong nangyayari kasi Covid. Marami ring nagbebenta online, so nag-join ako don.
“I was also active in getting mga suki na riders because I wanted to offer free delivery. While I knew my revenues and margins would be compromised a little bit, I thought, if that’s the way I can get coffee delivered to people so they can try our brand—why not? So we thrived through free deliveries, GrabFood, and Foodpanda.
“Kasi yung business ko nasa bahay lang siya—dito sa Makati, sa may Cityland. So online lang siya—Facebook order lang. Ako lang sumasagot, ako lang nagtitimpla, ako rin ang nagma-market. Tapos pinapadeliver ko lang siya sa mga partner kuya ko na delivery riders.
“And then came Foodpanda and GrabFood. Eventually, naka-ipon na rin. Yung P6,000 na capital, bumalik na rin kahit papano. I think within one month, nabalik na rin siya—kasi P6,000 lang ‘yon eh. And then, I was very aggressive sa pagbebenta. Although may days na walang-wala talaga, in the span of one month, nakabawi ako.
“Tapos nagka-COVID pa ako—August ‘yon so nag-stop yung operations. I even said to myself, ‘Baka hindi na ito worth i-pursue,’ kasi two weeks akong mawawala. Baka mag-die down yung hype—hanapin ng tao, wala. But during those times na naka-quarantine ako, maraming nagme-message. Naghahanap. ‘Ma’am, kailan kayo mago-open ulit? Order kami ng coffee.’ So I saw potential there.
“So while I lost some momentum during lockdown, I already got my ROI and even had some profit. That’s when I planned to open a small physical kiosk. Nag-message ako sa mga gumagawa ng materials for the kiosk. As soon as I got out of quarantine, I looked for a location downstairs from my condo. Yun yung first ever kiosk namin.
“I looked for a spot where I could do a co-leased setup. Kasi there were also businesses struggling at the time who still had space. I thought, what if I put my kiosk here? At least, hati kami sa rental. Win-win. You’re present in my market, I’m present in yours. So I found a spot and set up a small kiosk there.
“That’s when people started to recognize us. ‘Ah, kayo pala yung mini-message ko online? Buti na lang may kiosk na kayo.’ So our market expanded even more when we put up the kiosk. From starting as just an online, home-based coffee shop, we were able to grow. This was around October 2020.”
3| Know how to leverage customer trust to drive scalable growth
Turning customers into franchisees allows you to scale faster with less risk while building a stronger, more aligned brand. It’s a growth strategy rooted not in cold transactions, but in shared belief and experience.
Because they already love your product, customer-franchisees understand the brand, the customer experience, and the value proposition. This reduces the learning curve and lowers the risk of misalignment between franchise operations and brand standards.
Having experienced the business as consumers, they often require less convincing and less intensive training. They’ve observed how things work and in many cases, developed their own ideas for improvement. Their passion and familiarity accelerate the onboarding process and lead to smoother, more efficient execution.
From the very beginning, But First, Coffee attracted attention not only for its affordable pricing and strong product-market fit, but also for the community it built. That community soon became the foundation for its rapid expansion.
Even when her physical kiosk was still modest in design and operations, customers already saw its potential. Their excitement translated into unsolicited inquiries about franchising—well before Magalona-Go had formal systems in place. This early traction revealed two things: first, the product resonated deeply with everyday customers; and second, those customers weren’t just passive consumers—they were willing to invest.
Instead of turning them away or rushing into a formal franchise model she wasn’t yet prepared for, she took a pragmatic path—starting with partnerships. This lean and low-risk strategy allowed her to scale responsibly, test new markets, and validate the strength of the brand.
The key turning point came when she and her partner decided to formalize operations and create documentation—a franchise manual, training processes, and systems that would allow them to replicate success. They didn’t hire expensive consultants or join franchising associations right away. Instead, they chose a DIY approach grounded in experience and discipline, which makes franchising a natural extension of what already worked.
Magalona-Go scaled fast by turning customer enthusiasm into shared opportunity. This not only accelerated growth, but rooted her expansion in people who already believed in the brand.
“And then maraming nagi-inquire na kung pwedeng mag-franchise and all,” she says. “Nakakatuwa talaga nung nagi-inquire sila for franchising—na ganon pa lang yung itsura ng kiosk, pero nakikita na nila yung potential. Pero sabi ko, “Hindi pa po ready kasi wala pa po akong documents. Wala pa akong alam sa franchising.
“Tapos yung ka co-leased ko doon, parang shawarma business. May isa silang staff doon na nag-reach out, na ‘Pwedeng mag-franchise?’ Sabi ko, ‘Ate, wala pa ngang franchise.’ Sabi niya, ‘What if partner na lang? Kasi may pwesto ako sa Molino, commercial area, doon ako nakatira.’ Sabi ko, ‘Oh sige, mag-partner tayo—ikaw na sa rent, ako na lang sa operations, tapos hati tayo.’
“So after one month, nakapag-operate na rin kami. Nakapag-branch out kami sa Molino. Mabilis lang. Food cart yung set up, may table lang sa gilid at coffee maker lang yung ginagamit, wala pang espresso machine dati. Mahal yung espresso machine para sa P6,000 ko. Hindi ako makakabili ng espresso machine—coffee maker yung gamit ko, yung pambahay lang talaga na brewed coffee maker.
“Nung nag-open kami sa Molino one month after, yung officemate ko rin dati, nag-open din siya sa Imus. So we ended 2020 with three branches: Makati, Molino, and Imus—partnership lahat ‘yon kasi hindi pa pwede mag-franchise. Nung April of the following year, nakahanap din ako ng co-leased space sa BF Homes.
“Parang co-leased palagi yung setup ko kasi tipid sa rent, and win-win for both of us. Tapos pumatok din siya sa BF Homes. Tapos next naman, sa Diliman. Yung co-lease ko sa BF Homes, parang restaurant siya—pero sa kanya yung restaurant, akin yung bar counter niya.
“So doon lang kami sa bar nag-ooperate. May counter lang kami doon sa gilid and then sales started growing. People began to love our coffee. Mas nagiging strong yung community namin kasi natutuwa sila na mura lang tapos masarap pa.
“And then dumadami na, nag-resign na ako sa work ko. Kasi dati sabi ko, ‘Back-up plan lang naman ito for 2021. Just in case matanggal ako.’ Eh hindi naman ako na-layoff by God’s grace. Pero sabi ko, ‘Ayoko pa rin mag-resign noon kasi gusto ko stable muna.’ Gusto ko i-replicate muna na may sahod ako—baka mag-resign ako, tapos hindi pala ako kumikita. So sahod-sahod tayo para ma-simulate lang. Nung April 2021, nag-resign ako. Ang bilis lang.
“And then around that time, mas lalong dumami yung inquiries for franchise. Sabi namin, “Why not? Baka i-franchise na natin.” Kasi tumatakbo na siya for five branches, tapos okay lahat. Pero dati wala kaming budget para mag-hire ng consultant o mag-join sa PFA. So sabi namin, “I-DIY na lang muna natin. Let’s just document everything we have right now—our processes, our systems, our operations—and once okay na lahat, then we’re good to go for franchising.
Kasi ayoko na yung process pabago-bago so for you to have a consistent flow, dapat naka-document lahat. Para pag nakalimutan mo, you can revert back to that document and you need that document din to replicate your operations across other branches.
“So ‘yon, we opened it up for franchising. Nakakuha kami ng first franchisee namin—which was in V. Mapa. Ako lahat nag-training, ako lahat nag-close ng deals. And then by end of 2021, naka-15 branches na kami in all. Tapos, yong mga pioneer franchisees namin, umulit sila noong 2022. Yung mga franchisees naman nagkaron ng multiple branches—may mga 10 branches, may four, may 16, ganun. Because of franchising, we were able to expand faster.”
4| Know how to compete on price without compromising value
When your product offers great quality at an affordable price, you attract a larger segment of the population—including those who are value-conscious but still expect a good experience. This democratizes access and expands your customer base.
Customers who feel they’re getting more than what they paid for often become loyal advocates. They’re more likely to repurchase, refer others, and stick with your brand even when competitors try to lure them with promos or flashy marketing.
Competing on both quality and price is difficult to replicate. Brands that master this balance often enjoy a unique edge: they’re seen as trustworthy, generous, and consistent—values that resonate strongly in any market.
Magalona-Go competes with big brands not by mimicking their scale or marketing budgets, but by offering a well-defined value proposition that addresses real market gaps—quality coffee at an accessible price.
While big chains focus on premium pricing and high-margin products, she carved out a niche by targeting value-conscious consumers who want a great coffee experience without the premium tag. She knew that in areas like Makati, most options were either expensive or inaccessible to younger professionals. By offering a product that’s “masarap pero mura,” she delivered value that large brands often overlook.
Instead of investing heavily in expensive locations or luxury interiors, she prioritized product quality, customer service, and accessibility. Her early strategy—offering free delivery, using Facebook groups, and building a community—allowed her to reach customers personally. This grassroots marketing approach helped build trust and brand loyalty far faster than top-down advertising campaigns.
“Kasi yung ‘But First, Coffee’ statement na talaga siya,” she says. “Ginagamit siya as caption lang na parang magpo-post sila sa Instagram: ‘off to work, but first, coffee. Parang magkakape muna ako, parang coffee before anything else. Ganon siya, so existing na yun na ‘yon pero hindi siya ginagamit as a brand.
“Tapos sabi ko, parang ang ganda nitong gamitin na brand. And then tsinek ko siya sa IPO, Intellectual Property Office, walang nagmamay-ari. So trinademark ko yung But First, Coffee.
“Yung unang logo, partner ko ang gumawa. Greater sign yung logo kasi we want to live by our branding. ‘But First, Coffee’—kasi mathematical symbol siya, ‘di ba? So the greater sign is of higher value. So for us, ‘But First, Coffee’—especially since our market is coffee lovers—means coffee before anything else talaga siya.
“Pero in-update na namin siya ngayon, parang nasa cup na. Greater sign pa rin naman siya, it’s just that may personality na ng branding ng ‘But First, Coffee’ mismo. BFC yung acronym niya. I usually use it for short shortcuts din pero legally, naka-trademark na rin yung BFC.
“Dati dalawa lang yung flavors ko, yung Vietnamese style at yung classic lang. Brewed coffee lahat base. Noong nag-franchise na kami, may espresso machine na, may hot and iced na, may litro. So marami ng sizes. May different flavors na rin.
“So lahat ‘yon—yung costing, preparation guidelines, sales reports, paano mag-take ng orders, FAQs ng mga customers—lahat naka-document na.
“Yung sa Bacolod na coffee, hindi siya Vietnamese ang tawag doon—condensed iced coffee lang ang tawag sa kanila. Dito, pinangalanan ko siyang Vietnamese style kasi yung process at timpla niya is similar to authentic Vietnamese coffee, brewed coffee talaga and condensed milk.
“Tinweak lang siya namin, mas matamis lang siya ng konti kasi sobrang tapang ng original authentic Vietnamese style. Tinweak lang siya namin para mag-adjust siya sa preference ng mga Pinoy na leaning toward the not-so-strong side.
“Yung R&D dati, ako. Ngayon may team na. Sila na yung gumagawa. Dumami na yung mga flavors, meron ng Vietnamese style, Spanish latte, Caramel Macchiato, Salted Caramel, Café Mocha, Matcha. Kasi ito yung mga common na kinokonsume ng mga customers sa cafés. So ito yung version or take namin on those flavors. Noong lumalaki na at nakikilala na yung brand, yung kinuha ko yung mga barista na may mga prior experience na pati yung team members may experience na in handling operations. Sila yung kinuha ko.
“One of our competitive edges talaga is our drinks. Siyempre, kapag dumadami—especially sa F&B business—sometimes consistency becomes challenging. So we do proactive audits, either planned or unplanned. And we also do retraining for all our baristas.
“May team kami na pumupunta talaga sa branches. May team din kami na nagka-cater sa baristas ng ibang branches para i-retrain, maliban sa spot audits. So may corrective actions, may preventive actions.
“Second, we try to see what really works, and ano yung nagiging trend sa coffee industry—in terms of taste, pricing, seasons. We try to stay as up to date as we can sa mga ipino-provide namin sa tao.
“We also maximize social media so we can make noise or fuzz every time we promote a certain item. Tapos ngayon, we're entering the digital world na rin. We already have an app—nag-pilot test na kami.
“Ang strategy ko is not to compete with Starbucks but to use them as inspiration and motivation to strengthen and grow our brand more. Siguro one competitive edge lang is that we're cheaper than Starbucks. ‘Yon lang talaga. We're more affordable, and we have drinks that can compete with theirs at a much more accessible price point.”
5| Know how to lead with grit and purpose
Every business faces challenges—low sales days, failed products, operational hiccups, or financial strain. Grit ensures that you don’t give up at the first sign of difficulty. Entrepreneurs who have grit are more likely to stay the course and bounce back stronger after failure.
A clear purpose keeps you grounded. When you know why you’re building a business, you make better decisions. Purpose acts as a compass when you face hard choices. It helps align your product, team, and culture toward something bigger than just profits.
Grit earns respect. Purpose earns trust. Together, they build a company culture that’s resilient and mission-driven, which is hard to replicate and powerful to scale.
Faced with the uncertainty of starting a business during a pandemic, Magalona-Go did not allow fear to paralyze her. While she admitted to questioning whether her venture had long-term potential, she made a conscious decision to focus on what she could control—her effort, mindset, and ability to spot opportunity.
Her emphasis on team quality over quantity is one principle that stems from grit and purpose. Instead of building a bloated organization, she looked for people who aligned with her vision and shared her goals. She recognized that a few well-aligned team members were more valuable than many who weren’t invested. This enabled her to build a lean but efficient operation.
Magalona-Go’s approach to learning was also grounded in persistence. She didn’t rely on books or formal mentorships; she relied on daily trial-and-error and self-education. Every day was a chance to improve operations and leadership through lived experience.
Finally, her attitude toward money reflects deep financial discipline. Instead of pocketing all profits, she structured her cash flow to include emergency reserves, reinvestments for growth, and a payroll for herself. This allowed her to assess the health of her business based on its ability to cover both expansion and sustainability.
“Dati natatakot din ako kasi iniisip mo, pang-long-term ba ‘to?” she says. “Kasi when you start a business, may incubation or may certain phase ka. You have to really sustain it, and hindi mo pa alam, kasi parang peak ka pa lang that time.
“Pero again, sabi ko rin—sige, positive lang yung mindset. Gawin ko lang yung best that I can, para mag-grow ‘to. Kasi kung nakikita ng tao yung opportunity sa business ko, bakit ako—hindi ko makita yung opportunity sa business ko? If kaya nilang mag-trust sa business—by asking for a franchise—bakit ako hindi? So ‘yon, nagiging motivation ko lalo na ayusin, i-grow.
“Kaya in starting a business, you must believe in your product and in what you do. Tapos, you should not be easily intimidated or demotivated by the challenges, kasi meron days na walang benta, because it will happen. Kasi business is full of ups and downs, so dapat ready tayo to take all of those risks. Kasi how will we know if we don’t try?
“So let’s say one day, parang wala akong kita, tapos hinayaan ko na lang siya at nag-give up na ako—we wouldn’t be where we are right now. So first, you just have to take risks and do all you can—exert 100 percent effort before even thinking of giving up.
“Second, dapat calculated lang yung risk mo. For example, I'm grateful na yung una kong nilabas—P6,000—nag-grow siya. But in starting a business, be careful with te money that you’re going to shell out. Make sure that whatever the outcome, hindi ka walang-wala.
“Third is to have boundaries, kasi I’ve learned along the way. I’ve been an employee once, so I know the relationship between employers and employees. Pero noong nag-start ako, sabi ko, I want to treat everyone as friends, tapos ganito, ganyan.
“But sometimes, it’s prone to abuse, and one small thing na kailangan ikaw naman ang masunod this time, you end up being seen as the worst person in the world. So dapat may boundaries. Boundaries in a way that are still professional, but you're also open for discussions and communication.
“Fourth, invest in the right people. It’s really quality over quantity. Before, I invested in a lot of people, but I noticed na minsan from all the people we've onboarded, only one or two really fit. So if you find the right person and you share the same goals and vision, the business moves faster.
“And then communication—because whatever problems you have can be resolved through communication. It’s something na hindi masyadong na-pa-practice ng maraming tao. For example, it’s a basic thing—if something's bothering me, I should communicate it directly. Otherwise, magpa-pile up lang ‘yan and it tends to become worse. This could happen with people you work with, your clients, your parents, or whoever. Dapat communicate, because if you don’t, walang mangyayari. It might lead to broken relationships or unresolved conflicts—things that could’ve been solved with simple communication.
“During those time when I was setting up the business, I just learned by Google lang. Hindi ako yung type na mahilig magbasa ng libro—siguro as much as I want to read books, as much as I want to hear more podcasts or interviews of successful people, siguro at that time nagfo-focus lang ako sa day-to-day. I just wanted to surpass things one day at a time.
“Tapos yung mga day-to-day experiences ko, ‘yon yung nagiging knowledge ko on how to run the business better—how to become a better leader, how to come up with better decisions through all those day-to-day activities.
And then, siguro in terms of finances, when you're running a business, make sure you take into account all operational expenses, and other costs as well. When you compute, dapat you understand that hindi lahat ng pera na mae-earn mo ay ibubulsa mo na. Allot something for emergency funds, for future development, and for yourself—as in, give yourself a payroll. Kasi you’ll know your business is performing well if it can sustain your salary.”
Henry Ong, RFP, is an entrepreneur, financial planning advocate and business advisor. Email Henry for business advice [email protected] or follow him on Twitter @henryong888
