Manila, Philippines — The country’s trailblazing online subscription-based business platform, The Business Manual, organized its first-ever event dubbed as “Growth Con PH” recently at the Ascott Bonifacio Global City in Taguig.
The event showcased a series of panel talks featuring twenty exceptional rising stars in the business realm in the Philippines. Among them were Jaime Gonzalez, the visionary mind behind PickUp Coffee, as well as the ingenious force behind makeup brand Colourette, Nina Ellaine Dizon.
The two shared invaluable insights about entrepreneurship, providing us with a wealth of wisdom and expertise.
Colourette shared how leveraging social media platforms, particularly TikTok, helped them connect with their audience on a personal level. By sharing the brand story and engaging with consumers directly, they were able to build a huge, loyal community of beauty fans and clientele who are always on the lookout for new product releases. This strong connection led to increased sales, with record-breaking orders and a monetary value of around 3-4 million pesos in just a few hours.
“Our core product right now are the Colourtints. So I would say we are the pioneers in terms of multi-use products that you can use on your eyes, cheeks, and lips. Filipinos are very particular in terms of sulit, we want one product that we can use in multiple of ways.” said Colourette CEO Nina Ellaine Dizon. This paid off as Colourette sells one Colourtint a minute.
She also highlighted the importance of knowing your market and how you can cater to what they want.
“Our brand value is anchored on the fact that we made products for Filipinos. I guess that’s really where our strength comes from. So aside from being community-centric, we also know our community very well, our audience, the market behavior, what they prefer, and what we need to come up with. So that’s where we, that’s what drives us in terms of product development.”
Pickup Coffee took a phased approach to funding, starting with seed investors, followed by angel investors, and then securing a funding of $38 million. Their advice to startups was to evaluate their specific business needs and determine the best funding approach accordingly. The CEOs emphasized the importance of building a strong foundation and finding investors who align with the company’s vision.
Pickup Coffee attributed its phenomenal growth to its amazing lineup of delish offerings of course, and the cultivation of a strong company culture. The CEO emphasized the importance of aligning everyone in the organization with a shared vision and values. By ensuring that each decision made by their baristas reflected the company’s culture, the company maintained consistency and provided a positive customer experience.
“I always say culture is the strongest thing. And I was telling my workers the other day, when you go to church, people behave in a certain way, and you know how they’re going to behave, and you never go to church and there’s somebody singing and then somebody’s jumping. No, everybody behaves in the same way because we all share the same culture. So at Pickup Coffee, at the end of the day, we’re selling a few dozens of thousands of coffees a day. So every barista, when they’re serving a coffee, they need to make a decision whether they do it right or wrong, how they do it to customers, etc. So we have to make sure that in every single decision that’s taken, Pickup Coffee culture is there. So we make sure that every single person behaves in that certain way,“ PickUp Coffee CEO Jaime Gonzales shared.
Both Pickup Coffee and Colourette emphasized the importance of understanding and catering to their target markets.
Colourette, for instance, takes pride in developing beauty products specifically for Filipinos, considering factors such as skin tones and preferences. This hyperlocal approach allows them to meet the unique needs of their community and gain a competitive edge.
These insights from Pickup Coffee and Colourette CEOs highlighted the significance of understanding your target market, leveraging social media for engagement and monetization, fostering a strong company culture, and strategizing funding approaches. By implementing these tips, budding entrepreneurs can take their businesses to new heights.