{"id":3051,"date":"2023-12-21T06:07:39","date_gmt":"2023-12-21T06:07:39","guid":{"rendered":"https:\/\/newrfc.businesslocallisting.com\/?p=3051"},"modified":"2024-12-24T01:34:31","modified_gmt":"2024-12-24T01:34:31","slug":"10-expert-advice-from-successful-small-business-owners-philippines","status":"publish","type":"post","link":"https:\/\/rfc.com.ph\/blogs\/10-expert-advice-from-successful-small-business-owners-philippines\/","title":{"rendered":"10 Expert Advice from Successful Small Business Owners Philippines"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3051\" class=\"elementor elementor-3051\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a2a5e2c e-flex e-con-boxed e-con e-parent\" data-id=\"a2a5e2c\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-826f14b e-flex e-con-boxed e-con e-child\" data-id=\"826f14b\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b1d20d2 elementor-widget elementor-widget-html\" data-id=\"b1d20d2\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<style>\n.ekit-wid-con .elementskit-single-testimonial-slider{\n    background-color: transparent;\n}\n.apply{\n    color: #0000b6;\n    font-family: 'Montserrat';\n    font-weight: bold;\n    font-size: 18px;\n    background-color: #ffc908;\n    border-radius: 25px;\n    padding: 8px 17px;\n    margin-right: 10px;\n    cursor: pointer;\n}\n.learn{\n    color: #0000b6;\n    font-family: 'Montserrat';\n    font-weight: bold;\n    font-size: 18px;\n    background-color: #ffffff;\n    border-radius: 25px;\n    padding: 8px 17px;\n    cursor: pointer;\n}\n.ekit-wid-con .elementskit-single-testimonial-slider {\n    padding: 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e-con-full e-flex e-con e-child\" data-id=\"d86a87b\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-61032d0 elementor-widget elementor-widget-image\" data-id=\"61032d0\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1728\" height=\"1152\" src=\"https:\/\/rfc.com.ph\/wp-content\/uploads\/2020\/07\/loan-program.jpg\" class=\"attachment-full size-full wp-image-6961\" alt=\"small business owners Philippines\" srcset=\"https:\/\/rfc.com.ph\/wp-content\/uploads\/2020\/07\/loan-program.jpg 1728w, https:\/\/rfc.com.ph\/wp-content\/uploads\/2020\/07\/loan-program-300x200.jpg 300w, https:\/\/rfc.com.ph\/wp-content\/uploads\/2020\/07\/loan-program-1024x683.jpg 1024w, https:\/\/rfc.com.ph\/wp-content\/uploads\/2020\/07\/loan-program-768x512.jpg 768w, https:\/\/rfc.com.ph\/wp-content\/uploads\/2020\/07\/loan-program-1536x1024.jpg 1536w, https:\/\/rfc.com.ph\/wp-content\/uploads\/2020\/07\/loan-program-113x75.jpg 113w, https:\/\/rfc.com.ph\/wp-content\/uploads\/2020\/07\/loan-program-480x320.jpg 480w\" sizes=\"(max-width:767px) 480px, (max-width:1728px) 100vw, 1728px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2eec271 elementor-widget elementor-widget-heading\" data-id=\"2eec271\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Expert Advice from Successful Small Business Owners Philippines: 10 Tips to Boost Your Business<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b135906 elementor-widget elementor-widget-text-editor\" data-id=\"b135906\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Starting a small business can be challenging, but <\/span><a href=\"https:\/\/www.crowdspring.com\/blog\/small-business-experts-advice\/\" rel=\"nofollow noopener\" target=\"_blank\"><span style=\"font-weight: 400;\">learning from the experts<\/span><\/a><span style=\"font-weight: 400;\"> who have already succeeded can make all the difference. That\u2019s why we\u2019ve gathered ten (10) expert pieces of advice from successful small business owners who have been at the bottom first and come out on top. These valuable tips will guide you to achieve your entrepreneurial dreams. So get ready to be inspired by the wisdom of those who have paved the way!<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d9f830c elementor-widget elementor-widget-heading\" data-id=\"d9f830c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">10 Expert Advice from Successful Small Business Owners Philippines<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cb03bc6 elementor-widget elementor-widget-text-editor\" data-id=\"cb03bc6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3><strong>1. Passion and Persistence<\/strong><\/h3><p>Many successful entrepreneurs emphasize the importance of passion since it will drive you through challenges. When you\u2019re passionate about something, you make a clear business plan where you define your goals, objectives, and the steps required to achieve them.Moreover, be persistent whatever trials may come because small businesses often face setbacks and perseverance can be a key factor in long-term success. Also, stay flexible and open to change. Markets evolve, and successful entrepreneurs are willing to adjust their strategies to meet new demands or challenges.<\/p><h3><strong>2.Customer Focus<\/strong><\/h3><p>Understand your target audience. Successful business owners invest time in market research to identify their customers’ needs and preferences. This implies prioritizing customer satisfaction because repeat business and positive word-of-mouth are often crucial for small businesses. That\u2019s why listen to your customers and adapt accordingly.<\/p><h3><strong>3. Build a Strong Team<\/strong><\/h3><p>Surround yourself with talented and dedicated individuals. A successful business is often the result of a collaborative effort. Delegate responsibilities and empower your team. With that, here are some ways to build a strong team in your business.<\/p><ul><li style=\"list-style-type: none;\"><ul><li>Look for people who not only have the skills and experience you need but also fit in with your company culture.<\/li><li>Encourage open communication, collaboration, and creativity. Let everyone feel valued and respected.<\/li><li>Invest in your team’s growth and provide them with opportunities to learn and improve their skills. This will not only benefit your business but also show your employees that you care about their professional development.<\/li><\/ul><\/li><\/ul><h3><strong>4. Effective Marketing<\/strong><\/h3><p>Develop a solid marketing strategy. Successful small business owners understand the importance of creating a strong brand presence and effectively reaching their target audience. In addition, networking can provide valuable insights, partnerships, and opportunities for growth. Establish and nurture relationships within your industry. Connect with your local community because being involved in community events, sponsorships, or collaborations can boost your business and create a positive image.<\/p><h3><strong>5. Embrace Technology<\/strong><\/h3><p>Stay up to date on technological advancements applicable to your industry. Embracing technology can enhance efficiency, streamline processes, and give you a competitive edge. Let\u2019s say, for example, the importance of having a strong online presence is a must to reach out to your target market and give you that much-needed social-proof. With the growth of technology nowadays, you can easily connect with customers. It could be social media or a website, whichever is your preference.<\/p><p>Another thing is the latest tech tools and software which could be beneficial to your business. From project management tools to accounting software, there’s a tech solution out there for almost everything. By embracing technology and using these tools, you’ll save time, reduce errors, and ultimately increase your productivity.<\/p><h3><strong>6. Financial Savvy<\/strong><\/h3><p>According to experts and successful business owners, this is critical. To be financially savvy is to manage your finances wisely. Keep a close eye on cash flow, budgeting, and financial planning. This helps weather economic downturns and unexpected expenses. At some point, there will be a need to cut costs to stay running the business. Thus, managing your business finances should be given importance.<\/p><h3><strong>7. Quality Products and Services<\/strong><\/h3><p>Having quality products or services is the secret sauce of a successful business in the Philippines. So as a business owner, prioritize the best products or services to be given to your customers. Remember that satisfied customers are more likely to become repeat customers and advocates for your business. Whether you’re selling widgets or offering a service, it’s important that what you’re putting out into the world is something that people want. Do your research, find out what the market is demanding, and then develop a product that meets those needs. And don’t forget to test it out and gather feedback to make it even better.<\/p><p>You might like: <a href=\"https:\/\/rfc.com.ph\/blogs\/5-best-business-ideas-with-minimum-of-50k-capital-in-the-philippines\/\"><strong>5 Best Business Ideas with minimum of 50K Capital in the Philippines<\/strong><\/a><\/p><h3><strong>8. Competitor Research<\/strong><\/h3><p>Conversely, your competitors may be aware of information that you are not. Finding your shortcomings in comparison to your competitors and defining your competitive edge are two benefits of running a business. Take a look at competitors\u2019 slogans, special selling points, and offerings. Also, learn about their social marketing strategy, target market, and their strengths and weaknesses. To repeat learn and not copy.<\/p><h3><strong>9. Legal Compliance<\/strong><\/h3><p>Well, complying with legal matters is a must in business. Compliance can prevent issues down the road and build trust with customers. To further explain, take note of the following:<\/p><ul><li style=\"list-style-type: none;\"><ul><li>Depending on the type of business you have, you may need to register with your local government or even get a specific license.<\/li><li>Make sure you’re keeping track of all your income and expenses, and file your taxes on time.<\/li><li>If you’re planning on bringing some awesome people on board to help you run your business, make sure you’re following all the employment laws.<\/li><li>Finally, protect yourself and your business. This means having the right contracts in place. Whether it’s with your clients, employees, or suppliers, you have everything in writing.<\/li><\/ul><\/li><\/ul><h3><strong>10. Learn from Mistakes<\/strong><\/h3><p>Failure is often part of the entrepreneurial journey. Learn from mistakes rather than letting them discourage you. As you learn from mistakes, you tend to do more for your business to grow and succeed. Also, have yourself adapt and grow stronger from each experience that your business is going through.<\/p><p>You might like: <a href=\"https:\/\/rfc.com.ph\/blogs\/4-practical-tips-to-guide-your-mid-year-business-review\/\"><strong>4 practical tips to guide your mid-year business review<\/strong><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d181487 elementor-widget elementor-widget-text-editor\" data-id=\"d181487\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">There you go, the 10 pieces of advice from business experts that could help you and your business grow. Remember that the success of a small business often relies on a combination of factors such as the ability to adapt, learn, and seek funding when needed.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Ready to kickstart your business? Or are you aiming for a business expansion? Dive into your entrepreneurial adventure with RFC\u2019s wide range of loans and financing solutions. From the different multipurpose loans to business loans and cash loans, RFC has got you covered!<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9520c87 elementor-widget elementor-widget-heading\" data-id=\"9520c87\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">About RFC<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c3273db elementor-widget elementor-widget-text-editor\" data-id=\"c3273db\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Empowering Filipinos worldwide with accessible financing since 1964, Radiowealth Finance Company (RFC) extends its support to those seeking credit solutions. Join the community of satisfied clients and experience the advantages for yourself!<\/span><\/p><p><span style=\"font-weight: 400;\">If you\u2019re ready to apply for a loan, click the link below:\u00a0<\/span><\/p><p><a href=\"https:\/\/lap.rfc.com.ph\/LoanApplicationForm?SP=2268e63fc23eb8e774a0e8456a15c7f0&amp;SK=f8fbbfc02395547f6b7994a3a8858746\"><b>I am ready to apply for a loan with RFC! <\/b><\/a><span style=\"font-weight: 400;\">For more information about RFC and their products, visit <\/span><a href=\"http:\/\/www.rfc.com.ph\"><b>www.rfc.com.ph<\/b><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d4f75ab e-con-full e-flex e-con e-child\" data-id=\"d4f75ab\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ad408c5 elementor-widget elementor-widget-mfn_live_search\" data-id=\"ad408c5\" data-element_type=\"widget\" data-widget_type=\"mfn_live_search.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"column_livesearch\"><div class=\"mfn-live-search-wrapper\" data-char=\"3\" data-posts=\"10\" data-featured=\"0\"><form method=\"get\" class=\"mfn-live-searchform\" action=\"https:\/\/rfc.com.ph\/\"><svg class=\"icon_search\" width=\"26\" viewBox=\"0 0 26 26\" aria-hidden=\"true\"><defs><style>.path{fill:none;stroke:#000;stroke-miterlimit:10;stroke-width:1.5px;}<\/style><\/defs><circle class=\"path\" cx=\"11.35\" cy=\"11.35\" r=\"6\"><\/circle><line class=\"path\" x1=\"15.59\" y1=\"15.59\" x2=\"20.65\" y2=\"20.65\"><\/line><\/svg><input type=\"text\" class=\"field\" name=\"s\" placeholder=\"Enter your search\" \/><input type=\"submit\" class=\"display-none\" value=\"\" \/><\/form><div class=\"mfn-live-search-box\" style=\"display:none\">\n\t\t\t\t<ul class=\"mfn-live-search-list\" style=\"max-height:300px \">\n\t\t\t\t\t<li class=\"mfn-live-search-list-categories\"><ul><\/ul><\/li>\n\t\t\t\t\t<li class=\"mfn-live-search-list-shop\"><ul><\/ul><\/li>\n\t\t\t\t\t<li class=\"mfn-live-search-list-blog\"><ul><\/ul><\/li>\n\t\t\t\t\t<li class=\"mfn-live-search-list-pages\"><ul><\/ul><\/li>\n\t\t\t\t\t<li class=\"mfn-live-search-list-portfolio\"><ul><\/ul><\/li>\n\t\t\t\t<\/ul>\n\n\t\t\t\t<span class=\"mfn-live-search-noresults\">No results<\/span>\n\t\t\t\t<a class=\"button button_theme hidden\">See all results<\/a>\n\t\t\t<\/div><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-308b1cf elementor-widget elementor-widget-heading\" data-id=\"308b1cf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Recent Posts<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7e24dd8 elementor-widget elementor-widget-elementskit-post-list\" data-id=\"7e24dd8\" data-element_type=\"widget\" data-widget_type=\"elementskit-post-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >\t\t<ul class=\"elementor-icon-list-items ekit-post-list-wrapper \">\n\t\t\tOpps, No posts were found.\t\t<\/ul>\n\t\t<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2510bff elementor-widget elementor-widget-heading\" data-id=\"2510bff\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Categories<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bd56f08 elementor-widget elementor-widget-elementskit-category-list\" data-id=\"bd56f08\" data-element_type=\"widget\" data-widget_type=\"elementskit-category-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" >\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t<\/ul>\n\t\t<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Gain valuable insights from successful small business owners in the Philippines with our latest article. Discover expert advice on navigating challenges, maximizing growth, and achieving long-term success. Whether you’re starting a new venture or looking to improve your existing business, these tried-and-true strategies from seasoned entrepreneurs will guide you on your path to success.<\/p>\n","protected":false},"author":1,"featured_media":6961,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"footnotes":""},"categories":[279],"tags":[],"class_list":["post-3051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blogs"],"_links":{"self":[{"href":"https:\/\/rfc.com.ph\/wp-json\/wp\/v2\/posts\/3051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rfc.com.ph\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rfc.com.ph\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rfc.com.ph\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rfc.com.ph\/wp-json\/wp\/v2\/comments?post=3051"}],"version-history":[{"count":0,"href":"https:\/\/rfc.com.ph\/wp-json\/wp\/v2\/posts\/3051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rfc.com.ph\/wp-json\/wp\/v2\/media\/6961"}],"wp:attachment":[{"href":"https:\/\/rfc.com.ph\/wp-json\/wp\/v2\/media?parent=3051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rfc.com.ph\/wp-json\/wp\/v2\/categories?post=3051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rfc.com.ph\/wp-json\/wp\/v2\/tags?post=3051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}