Rockstar Entrepreneur

Entrepreneurship is a lot like boxing. It is fierce, competitive, and often … painful. The pain from the blows of your opponent is part of the game. If you’re afraid to get hurt; then maybe entrepreneurship, or any other contact sport for that matter isn’t for you.

The key to boxing is rolling with your opponent’s fist to lessen the impact of each blow; adjusting your defense and attack based on your opponent’s motions. And waiting for the right opening for a knock down.The same way that a new venture should hold ground from all the challenges and manage the risks of  a bootstrapped start up; adjust to the needs of the market and the changes in he operating environment as it happens. And wait for the right opportunity to strike gold.

No one wants to get hurt, but when faced with difficulties and set backs; you just have to suck it up and deal with it.

When McDonald’s came to the Philippines, the friends of Tony Tan Caktiong who is the owner of Jollibee, told him to sell his business while it’s still worth something. They believe that Jollibee doesn’t have a chance against the fast food chain who practically invented fast food. How can you possibly beat the biggest quick service restaurant in the world at their own game? What he did, was study the competition. He studied how McDonald’s operated the business and infused this knowledge to improve Jollibee’s operations. But he did not stop there. He also studied his customer and delivered a product and service that would suit the Filipino taste. Through his market research, he was able to bring his fast food concept closer to the Filipino taste which McDonald’s being an American brand lacked. It did not bow down to competitive pressure but rather rose to the occasion to be the only fast food chain in the whole world who beat McDonald’s in its own game. Tony believed in himself and has brought his business to the next level.