Wednesday, September 05, 2007

Entrepreneur Philippines' 60th Networking Night: Bazaars and Suppliers Special

I attended the networking night of Entrepreneur Magazine’s 60th Networking Night last night which was held at C3 Events Place. It was my first time to attend their networking events which is being held quarterly and I was very thankful that I did.

I am in the process of preparing my online business for the Christmas season and was looking for alternatives where I can sell my products at a physical store perhaps for this coming season. I am considering leaving my teaching work and become a full time entrepreneur and so I am looking for ways for my business to be sustainable by itself.

The event’s topic was about the Night Bazaars and Suppliers Special was really an eye opener for me. A few week’s ago when my husband suggested that I concentrate on my business fulltime I told him that I might need a small store or even a foodcart to sell my products but since I am alone I can’t bake and mind the store at the same time. What I need is a place where I sell at weekends and so that I can bake at week days to prepare for it. I was looking for alternatives and was looking a space to rent at malls and even LRT/MRT stations and having attended the event last night made me realize that maybe joining bazaars would be the answer to my problems.

The Networking Night is a casual business get-together organized by Entrepreneur Philippines Magazine and is open to both existing and aspiring entrepreneurs. They invited Marga Mendoza, Lifestyle Network Project Specialist; Prime Sarmiento, Entrepreneur's Associate Editor and expert in Quiapo suppliers; Judy Cruz-Malabanan, experienced bazaar organizer; and Pinky Antonio of PLA Events to share their expertise and experiences of how to strike a great deal! Margaux Salcedo, another bazaarista and entrepreneur hosted it.

The event was a success I estimated that there were almost 200 or more people that attended some were budding entrepreneurs like me, others already have established businesses and was looking for suppliers or future customers. I was really inspired at the end of the event and made contacts with some of the attendees promising to meet again and bring samples of my goods and maybe strike a deal or two. I even won an imported handbag during the raffle.

What lessons I learned last night:

  • Most people that shop at bazaars are looking for new and unique products.
  • When joining bazaars keep in mind of your operating expenses so at the end of the day you can determine if you profited in your venture.
  • Manage your booth personally and create a relationship with your customers.
    In pricing you products, consider the cost of your rentals(plus other operational expenses) and your target market (in selling to a high end market your can raise your prices)
  • In joining bazaars or in engaging in any other businesses take risks, overcome them and be a success.

5 comments:

SexyMom said...

oh, now, you are beginning to develop your entrepreneurial skills (not only online, but what do you call it--the physical store), first step: the 60th networking night.

i guess a physical store enhances an online business, or is it an online business enhancing a physical store, or perhaps, online and physical store complemeting each other? am looking forward to your findings.

mokz said...

hai poh!!!mam i like your blogs!!!sana poh magpost pa kau ng mga very informative na mga blogs...god bless poh !!!ingat lage!!!

ade said...

it's amazing... how you are able squeeze your time between work and business and at the same your role as a mother and wife, pls. write often

joan_pinon said...

@ade - thank you for inspiring me to write more. I can do many things with the support of my family withour them its hard to do the things I want to do.

Alison Perez said...

congrats! an avid fan of entrepreneur mag here. i also wanted to share a link to pinoymoneytalk.com for every aspiring pinoy entreps out there.