17/03/2026
https://lnkd.in/gg_eCcPP
Such a privilege to share the entrepreneur lessons to my mentee Trixie Esguerra - Abrenilla Philippine SME Business Expo (PHILSME)
1. "Three Ps" of Business
Everything starts with passion, but passion alone is not enough to sustain a business Entrepreneurs must also develop a long-term perspective and the perseverance to overcome inevitable failures and dead ends.
2. Survive the "Valley of Death"
The first 6 to 12 months of a small business are a critical period known as the "valley of death" . During this time, owners must get their hands dirty, manage potential debts, and work tirelessly to attract enough customers to
break-even.
3. Failure is a Lesson, Not an Identity
Entrepreneurs should reframe failure as a learning experience or "tuition fee" rather than a reflection of their personal identity or a complete dead end.
4. Differentiate Between Buyers and Customers
A buyer is someone who purchases from you once, while a customer is someone who consistently returns . A sustainable business is built on retaining long-term customers, not just attracting one-time buyers.
5. Prioritize Mission Over Vision
Before setting a grand, long-term vision, entrepreneurs should focus on their mission. The mission is the immediate task or specific problem the business is uniquely asked to solve .
6. Follow the "Rule of One" for Startups
Instead of just copying what other small businesses are doing, startups should strictly define their framework.
While running Founder Institute Founder Institute Philippines Core Program Accelerator
I learned using the "Rule of One" . This means identifying exactly one problem, one solution, one customer segment, one revenue stream, and one killer feature.
7. Know When It Is Time to Quit
It can be difficult to know when to stop a failing venture, but the rule is simple: it is time to close when you have lost both your passion and your budgeted peso(money). If you run out of money but still have passion, you can often find investors or institutions to help you continue.
8. Build a Stronghold Before Building an Empire
Before diversifying your offerings or expanding into new business ideas, you must ensure that your core business is a strong, stable fortress.
9. Achieve Feasibility, Viability, and Sustainability
A solid, well-built business must meet three criteria: it must be feasible (you have the resources and capability to execute it), viable (you are able to do it profitably), and sustainable (you are able to do it profitably on a continuous basis).
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