Philippines Guide

Only in her mid-twenties, Sheryl Eusebio gave up a promising banking career to fulfill a long-time dream—that is to put up her own home business. Looking back, Sheryl prides herself in having followed that dream, notwithstanding the problems and pains that came along the way.

Runs in the Family

It has been Sheryl’s desire to start her own business no matter small. Keeping in mind the adage—know your business—Sheryl decided to put up a paint supply business.

“My parents have been in the hardware store business for around 25 years already. Growing up then, I was somehow exposed to the operations of the business since we children would help our parents especially during summer break. So, I thought it would be helpful for me if I would be helpful for me if I would start on the same business since I have basic knowledge of its operations,” Sheryl narrates.

“But it was not easy. There is always that pressure to make the venture a success, especially if it’s your first. Good thing, though, because my dad was there to guide me along the way,” she continues.

Specialize and Diversity

According to Sheryl, it is easier to focus on a particular type of product rather than cater to a variety of goods. Aside from the financial consideration, it would be different to monitor and handle different products when you are just starting out.
“I decided to start on the paint supply business because it would be easier for me to monitor the store’s operations. At least, I just have paint to think of. Although I do have that goal of expanding into a hardware store and be able to sell various construction materials. In fact, on a selective basis, I already started selling some construction materials aside from paints, mostly to contractors.”

Hands-On All the Time

Another important factor in setting up your own business is the time that you have to put into it. As Sheryl would put it, “When you decide to venture into something, you have to give it your all. That’s the reason why I had to quit my job. You only have yourself to rely on. Even if you have your family or your own staff to assist you, every business decision will be your call and it could be disastrous if you make a wrong move.”

Moreover, her business requires a lot of marketing work. “It would be impractical to rely on walking clients.” Sheryl says. “People do not undertake construction or renovation the whole year round. So if you don’t tie-up with contractors or auto repair shops, it would be difficult to maintain a revolving capital for the whole year. That’s why I have to maintain accounts to be able to be able to keep the business going.

Tags: Filipino, expat, Make Money From Home, Mindanao, Paint, Davao, vacation