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{"id":843,"date":"2016-10-04T05:24:10","date_gmt":"2016-10-04T05:24:10","guid":{"rendered":"https:\/\/www.iamaworkingwoman.com\/?p=843"},"modified":"2016-10-04T05:25:46","modified_gmt":"2016-10-04T05:25:46","slug":"8-nuggets-wisdom-gonegosyos-2016-inspiring-filipina-awardees","status":"publish","type":"post","link":"https:\/\/www.iamaworkingwoman.com\/8-nuggets-wisdom-gonegosyos-2016-inspiring-filipina-awardees\/","title":{"rendered":"8 Nuggets of Wisdom from GoNegosyo\u2019s 2016 Inspiring Filipina Awardees"},"content":{"rendered":"

Link:\u00a0http:\/\/www.wheninmanila.com\/8-nuggets-of-wisdom-from-gonegosyo-2016-inspiring-filipina-awardees\/
\nBY SUZY TAPARAN,\u00a0<\/strong>MARCH 11, 2016<\/p>\n

Star-studded lineup. Check. Free entrance for students and teachers. Check. Audience by the droves. Check.<\/p>\n

These are what defined GoNegosyo\u2019s Filipina Entrepreneurship Summit for the last eight years. This year, though, GoNegosyo outdid itself: in its 10 years of existence, GoNegosyo had just pulled in its biggest crowd\u2014a reported 11,000 strong\u2014 for a day full of inspiration.<\/p>\n

\"8-nuggets-of-wisdom-from-gonegosyo-inspiring-filipina-awardees-1\"<\/a><\/p>\n

As a post-mortem, we, too, take inspiration not from the power cast of celebrity-speakers but from the GoNegosyo Inspiring Filipina Awardees this year.<\/p>\n

Here, seven out of the 18 awardees share their lessons as entrepreneurs. They talk about mistakes, failures, weaknesses and, in the process, their resilience.<\/p>\n

\"gonegosyo-fes8-another-showcase-of-girl-power-attracts-10000-2a\"<\/a><\/p>\n

8. On the lack of startup capital:<\/strong> 2015 Citi Microentrepreneurship National Awardee (CMA) Lydia Malot started her nata de coco business with a P300 initial capital while working as a teacher by day. Like most microentrepreneurs, her main challenge was funding. \u201cPinagtiyagaan ko. Ano mang maliit na kita ay ibinabalik ko bilang puhunan<\/em> (I persevered. Whatever profit I earned, no matter how small, I ploughed back into my business),\u201d was her time-tested formula. Today, she owns a business with a reported net worth growth of P900,000 and has 15 workers.<\/p>\n

7. On perseverance in the midst of failures<\/strong>: 2014 CMA awardee Teresita Valdez, a bagoong<\/em> manufacturer, also knows all about resilience first-hand. This microentrepreneur had her liquidity issues stemming from business partnership breakups, outstanding receivables in the millions of pesos, and rejected deliveries early on. It took around 14 years from the time she and her husband decided to strike on their own to finally say that they now have a sustainable business in their hands.<\/p>\n

6. On innovation and competition:<\/strong> \u201cWhen the trend was to go back to all natural products, everyone was turning to virgin coconut oil,\u201d said Sherill Quintana, owner of Oryspa Spa Solutions. \u201cWe, however, pioneered the use of rice bran as a superior topical oil and wellness product. It is a blue ocean strategy. You can only be the leader if you are a trail blazer and not a copycat.\u201d<\/p>\n

5. On repeated failures<\/a>:<\/strong> \u201cI believe in the intelligent fast failure theory in technology and innovation,\u201d Sherill explained. \u201cThat is, the faster you fail, the faster you perfect a system because you tend to scrutinize what made you fail and adjust your systems each time. I view failure as an opportunity to learn.\u201d<\/p>\n

4. On teaching one\u2019s child how to handle failures<\/strong>: \u201cParents should explain to their children that failure doesn\u2019t define them as persons,\u201d said Rossana Llenado of AHEAD Learning Inc.<\/p>\n

Rowena Matti, CEO of Galileo Enrichment Learning Program, Inc., sees nothing wrong with letting children experience disappointments. \u201cAs parents, we need to guide our children on how to manage setbacks. We can\u2019t always shield them from every little setback and failure, but we should know when to step in,\u201d she said.<\/p>\n

3. On the role of Science and Math in business: \u201c<\/strong>Math and science education can develop one\u2019s problem solving, critical thinking, analytical, organization and analytical skills\u2014 skillsets that are essential in business,\u201d Rowena said. \u201cBut the quality of our nation\u2019s math education, judging from the low national achievement scores of Filipino students, still needs to improve.\u201d<\/p>\n

The statement is further validated by her own experience with teachers who apply with her organization. \u201cMany of these candidates failed our company\u2019s Math and English diagnostic exams. Such is indicative of their kind of formal education. This is the main reason we invest a lot in the training of every teacher who joins our organization.\u201d<\/p>\n

2. On being an employee turned employer:<\/strong> Evelyn Lao-Yap was an employee before she started her distribution company, Benby Enterprises. Those three years as employee had honed her on certain skills. \u201cWhatever success I experienced when I was an employee, I brought that confidence with me as an employer. I applied the discipline I learned as an employee on how to conduct myself during meetings, how to analyze situations and how to find solutions, to my own business,\u201d she said.<\/strong><\/p>\n

1. On making decisions<\/strong>: Adelfa Borro, whose family owns Ted\u2019s Old Timer Lapaz Batchoy, shared, \u201cIn the past, I had made business decisions that were based on gut feel alone. For instance, for prospective spaces for my branches, I relied solely on property developers\u2019 market projections and recommendations. \u00a0These decisions proved to be costly, so I now learned to study the market myself before I put my stamp of approval on what others recommend to me.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Link:\u00a0http:\/\/www.wheninmanila.com\/8-nuggets-of-wisdom-from-gonegosyo-2016-inspiring-filipina-awardees\/ BY SUZY TAPARAN,\u00a0MARCH 11, 2016 Star-studded lineup. Check. Free entrance for students and teachers. Check. Audience by the droves. Check. These are what defined GoNegosyo\u2019s Filipina Entrepreneurship Summit for the last eight years. This year, though, GoNegosyo outdid itself: in its 10 years of existence, GoNegosyo had just pulled in its biggest crowd\u2014a reported […]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-843","post","type-post","status-publish","format-standard","hentry","category-entrepreneurship"],"_links":{"self":[{"href":"https:\/\/www.iamaworkingwoman.com\/wp-json\/wp\/v2\/posts\/843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iamaworkingwoman.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iamaworkingwoman.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iamaworkingwoman.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iamaworkingwoman.com\/wp-json\/wp\/v2\/comments?post=843"}],"version-history":[{"count":3,"href":"https:\/\/www.iamaworkingwoman.com\/wp-json\/wp\/v2\/posts\/843\/revisions"}],"predecessor-version":[{"id":848,"href":"https:\/\/www.iamaworkingwoman.com\/wp-json\/wp\/v2\/posts\/843\/revisions\/848"}],"wp:attachment":[{"href":"https:\/\/www.iamaworkingwoman.com\/wp-json\/wp\/v2\/media?parent=843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iamaworkingwoman.com\/wp-json\/wp\/v2\/categories?post=843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iamaworkingwoman.com\/wp-json\/wp\/v2\/tags?post=843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}