5 Things I Learned from a CEO

I used to think business is all about money and being brave enough to take risks… until a woman showed me that it’s not.

In almost an hour of conversation with Dina Estacio, president/CEO of DJM Grandeur Corporation, I have learned that business is not just about investing money and reaping that investment afterwards. Business actually involves various things that are way valuable than numbers.

1. Business is learning.

Estacio’s advice to those who’d like to put up a business is to start small. “Start in Step number 1. Start at the bottom, then take it slowly until you reach your goal,” she said, and noted that it is important not to skip a certain step.

These words made me appreciate that for someone to be a good entrepreneur, she/he should not only be good in marketing and tactics. One needs to learn to be patient, too. The lady CEO said she started as a sales representative of raw materials.

With regard to developing the products, meanwhile, “do it the scientific way,” she emphasized. Estacio shared that her company conducts stability tests and usage tests. “Hindi kami pwede ng tsambahan lang, (we don’t rely on luck)” she explained.

2. Business is innovating.

Her company didn’t have its own production facility before. It used to rent facility at the Industrial Technology Development Institute (ITDI) of the Department of Science and Technology (DOST) in Bicutan, Taguig. In 2010 and 2014, Estacio was able to avail of the DOST’s SETUP assistance, which she used to create a production facility and to have an automatic filling machine.

SETUP (Small Enterprise Technology Upgrading Program) is a DOST flagship program that provides assistance to small and medium enterprises through funding, technology upgrade and manpower training. It helps MSMEs improve product quality, productivity and competitiveness.

How can she maximize these? She developed orange drink and malunggay drink concentrate.

A chemist by profession, Estacio shared it “mixing” (ingredients) has become her passion. In fact, among the other products she has developed include whitening soaps, anti-aging and anti-acne creams, shampoo and whitening lotion.

3. Business is believing.

Believe in yourself and in your products/services. “How can I sell my product if I will not use it?” she asked.

According to Estacio, it took her more than a year to develop a whitening lotion. In 1993, she was pregnant and she had applied the whitening lotion in her tummy. She shared that the child had a really fair complexion. While there is no scientific proof that the lotion caused the child’s fair complexion, at least Estacio firmly believes that the product works and she had used it.

I also noticed that she looks much younger than her real age (she said she’s turning 60) and she doesn’t have acne. That gives me the impression that she uses her beauty products.

”Believe in yourself, believe in God. There has to be Divine intervention,” she emphasized, adding that as one works hard and perseveres, God will do the rest.

4. Business is helping.

Estacio herself is a recipient of help from the DOST. Perhaps that is the reason why she decided to help other people find a source of livelihood. At present, DJM has around 300 sales representatives in the provinces.

”It’s a big help for them, like for those who want to earn for their school allowance,” she said. For every bottle of DJM’s pito-pito sold, for instance, the sales representative automatically gets Php 50 commission from its Php 280 selling price.

Developing the juice drinks would also require additional manpower, and thus, would help create employment opportunities. Estacio said the juice drinks would probably be made available in schools by next year. It is also her way of providing healthy options and helping the students avoid sodas.

She has also decided to keep her products available in the countryside. According to her, there many malls in the city; how about the people in the provinces? Her company is into direct selling, where the sales representatives go house-to-house in the provinces.

5. Business is keeping.

Keeping one’s faith and keeping the passion burning are among the things Estacio shared with regard to running a business.

Also, keeping up with the trend is vital in business. DJM, for instance, used to offer gluta soap. But as the company keeps itself updated with the trend and has joined the bandwagon, Kojic soap became an addition to its offerings since last year.

”If one wants to be an entrepreneur, he/she should have a heart for it,” she said. The products should be of good quality and condition; and the employees should be treated well since they are partners. She added that the business would not exist without them (employees). “Get involved with the people around you,” she advised.Furthermore, every business should have a heart, according to Estacio.

While reality speaks that there are many who are busy multiplying their wealth, I’m glad to have encountered someone who views business in a different perspective — a woman who uttered twice that “business should have a heart”. (PNA) CTB/MCCA