Many Filipinos dream about having their own business. It is the perfect setup where one does not have to work for anyone but himself. Businesses allow people to have control over their time, resources and energy.
But the very idea of having your own business can be scary for a lot of people. The prestige of having to own one is tied up with all the risks that it entails. For Caroline Chan, facing those risks were all worth it because it was all about pursuing your passion and doing something that you love to do.
Caroline’s catering business, the Red White and Blue Restaurant, was born through her love for cooking. Her company prepares freshly cooked meals and delivers them to call centres, corporate events and seminars.
With just her savings to start with, Caroline knew that the path she chose requires tremendous hard work and perseverance. She knew that she would have to do a lot of work from all fields of operation from managing, accounting, marketing, recruiting and the most important of all, cooking. Fitting everything that needs to be done in 24 hours was a big challenge but she understood that she would have to prioritize on the important things first.
Caroline’ secret in running her businesses is centered on developing three sets of skills: selling, financial and management/people skills.
Selling skills involves identifying and knowing your target market so that you can offer them the product that they need. Being charming and knowing how to convince your customers to avail of your products or services helps a lot in sealing the deal that has been started with a good market research.
The circulation of money is the heart of any business. Thus, any businessman needs to have strong financial skills to ensure that their profit re-enters the business cycle as capital and not spent on leisure. The proper distribution of capital among needed resources is another important area that businessmen should focus on. Learning all of these is not an easy task especially to those who does not have any background in business administration, but it should not be an excuse for starting businessmen because there are tons of books and courses that shed light on these topics.
Caroline understood that for her business to work, she would need a lot of help from other people. One of the most important steps that she took in starting her business was finding people to work for her. Honesty and loyalty were the two key traits that she looked for in an employee. As a boss, she also needed to develop her trust and confidence to her people to keep them inspired and motivated. Having the necessary management and people skills was important for Caroline as she believed that the people who works for her is one of the most important resources of her business
Even with these technical skills at hand, Caroline testifies that a person’s character plays an important role in the longevity of the business. Being ready and prepared to face any hurdles and setbacks are the correct mindset for starting businessmen. Focus on the goal, patience to go through the process and discipline in keeping good habits and eliminating bad habits, being humble and being open to change are just some of the necessary traits to ensure success.
Caroline still believes that she is still far from her goal even with the current expansions of her business.
“I still do not consider my business a success. All I know is that you have to do it one day at a time. ”
You can visit her Carol’s Texan 5 at 2/F 713 J. Abad Santos St., Brgy. Little Baguio, San Juan, Metro Manila.