Saturday, October 30, 2010

Entry from Rej: The Ups and Downs of Taking Risks

Here's an entry from Rej:

When I was still in high school, my parents invested in a clothing business. We were bankrupt because we partnered with a wrong person. Five years ago, while we were renovating a rental space into internet cafĂ©, we were swindled by a couple whom we thought were the owners of the commercial building. We lost thousands. Worse, the only way to get justice was to file a suit. Knowing the justice system in the Philippines, we decided to just forgive and forget. Few months after the incident, we revived our plan in a different location. The business lasted for only six months. We were neither gaining nor losing money. It was break-even, so to speak. I guess, my parents’ patience way back was so short to give it one more chance. Last May 2010, we took another risk. This time, it’s a sari-sari store. And here’s the story…

Putting up a sari-sari store is a no joke. It is not as simple as it may seem. There are a lot of elements that must be put into consideration such as capital, location, market, delegation etc. Yes, even a small business as sari-sari store is a challenge and a risk. And I am glad, that our family was able to surpass all the initial trials. When we started, the net profit was so small. We barely felt the product of our hardwork. But we thought it was ok since we were just starting. After few days, we decided to invest more. We filled our storage cabinet with typical goods found in any sari-sari store and other items for human consumption. When we had enough, we invested in improving our facility by putting a roof outside to cover our customers from the scorching heat of the sun and the rain. We also put a wooden bench where one can sit and relax while sipping a soda. Thus, our actions have been producing good fruits gradually. I am happy to say that we now have regular customers or in tagalong “suki.”

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