Entrepreneurs are encouraged to leverage on technologies and tap high growth industries to future-proof their businesses and thrive post-pandemic.
Netplates chairman Giovanni Melgar said adapting new technologies to capture tech-savvy millennials, now with an estimated population of 60 million in the Philippines, is important.
“Millennials now have shifting consumer behavior. Millennials below 40 years old usually want delivery, or they will just eat at home,” he said in a virtual business conference.
Harley Dave Beltran, owner of Handcrafted by Harl’s, said it is not just about technologies but how one utilizes technologies.
“Even arts and crafts, even products that do not need technology but we can still sell it through technology. It is really a continuing innovation,” he said in mixed English and Filipino.
Citing the importance of future-proofing, Melgar said businesses should always be run with a “growth mindset”.
“So you have to strategize, you have your vision, your target,” he said. Melgar said it is also imperative to hire experts in the industries where entrepreneurs are engaged in, for example one who will manage marketing operations.
Jack Tanaleon, chief executive officer of Doctor Jack Pharmacy and Clinic, said they need to be resilient and adapt to change, and take “calculated risk” in engaging in businesses.
“Only that you have to tap the untapped market in the future because right now, there are a lot of businesses that are investing, they have a short vision,” he said.
Meanwhile, Beltran highlighted the importance of helping small entrepreneurs.
“Let us patronize local products. If what is needed at homes, even basic food, let us support micro enterprises,” he added.