Month: December 2022

Christmas Beyond Commodities: How Entrepreneurs Can Promote Meaningful Gift Giving

by Robbie Antonio

IN MODERN capitalist societies, Christmas shopping and gift giving has turned into a dreadful labor of love — a commercialized and exhausting retail frenzy.

Sad because throughout history, this symbolic exchange ritual has been crucial in developing relationships and in shaping social, economic, and moral aspects of human society across diverse cultures.

To rekindle the fundamental spirit of the Season of Giving — marked with goodwill, generosity, and altruism — we must go back to the most cherished elements of gift-giving rituals: personalization, thoughtful exchange, exciting unwrapping, and expression of gratitude.

Personalized approaches to touch hearts and minds

Christmas is a season for home and family, and exchanging gifts with family members usually involves more intense affection and sentiment.

But for these close relationships where it’s the thought that counts, material objects may come across as cold and impersonal commodities, purchased with money in crowded stores, and not given out of love and affection.

This could be why there is immense growth potential in the market for personalized gifts, or items with the name, photo, or caricature of the recipient.

The potential products are limitless: mugs and tumblers, purses, pens and notepads, cell phone cases, stickers and keychains, as well as home decor and jewelry.

For friends, personal concern can be conveyed through trendy kits promoting mental health and self-love.

For example, healing or self-care packages with essential oils, relaxing tea, fuzzy socks, bath essentials, eco-friendly toothbrushes, and face masks. These are usually presented with motivational labels, words of affirmation, and personalized notes.

Classy Christmas for the corporate world

Moving beyond the family and personal relationships, we see the practical function of gifts at work and in business.

This can range from corporate Christmas tokens and gift giving at office parties, from student to teacher, from patient to doctor, and to those who provide services such as delivery men and door attendants, in recognition of good service.

In these settings, Christmas gifts may represent more than their economic value. They can also signify hierarchy, position, and intent.

Gifts have a social value in connecting with business partners, and it is essential for companies to understand this to effectively manage their reputation and the signals they send to their business network.

Trendy gift sets for work associates include bundles of whisky and flask, wine with bottle openers, tea leaves with automatic heating pots, or coffee beans with French press and mugs.

When packaged in luxurious wooden boxes, they highlight the element of delightful unveiling, as one unspoken rule about Christmas gifts is that they must be wrapped before they are presented.

This adds to the surprise factor and the anticipation of unwrapping, which also drives demand in a submarket catering to aesthetic packaging.

For example, a famous stationery company set up an online shop that offers customized gift wrapping, with materials specifically tailored to the giver’s requests.

Digital platforms for thoughtful exchanges

The internet has reduced physical barriers in gifting, facilitating virtual exchange regardless of time and distance. These include subscriptions to streaming services, gift cards for fun experiences and online classes, and food and wine delivery vouchers.

But in replacing the physical exchange , entrepreneurs who want to foray into the digital gifting market may do well to address the rituals of gift giving, such as the unveiling part, as surprise plays a key role in gift exchange.

Digital entrepreneurs must also consider other elements such as the effort exerted in preparation, thoughtful exchange, unexpected receipt, and expression of immediate gratitude — and provide online platforms for such interactions, including the ability to share these experiences on social media channels.

Generations Y & Z: The New Breed Of Filipino Architects

by Robbie Antonio

PHILIPPINE architecture is in the eye of a storm of disruption, driven by architects
whose modern techniques are greatly influenced by a highly globalized culture and
environmental consciousness.

These are the Generation Z, aged 10 to 25; and Generation Y or the millennials, aged 25 to 40.

They are joining the workforce at a time when the industry is facing a myriad of
challenges from climate change to unaffordable housing.

Their generation values civic-mindedness and doing noble work that makes a
difference, as many young architects feel that the current system of designing the built environment does not adequately address their social and economic needs.

This group prioritizes practicality and is focused on finding their social purpose, as
influenced by the COVID-19 pandemic and the resulting economic downturn.

The pandemic’s mobility restrictions also drove the ongoing shift in urban design and architecture, which have redefined how people interact and use space.

Global culture

As digital natives, these young Filipino architects do not just master computer-aided design software easily, but they also instinctively turn to the web to look for answers — watching online tutorials and discussing in chat rooms with their peers from all over the world.

Instead of seeking authority figures in education, they prefer just-in-time and peer-to- peer learning in this 24/7 culture.

They function well in collaborative settings such as in design studios, with team-
centeredness being a millennial trademark.

They also enjoy the camaraderie and joint efforts in site models in architecture.

Generations Y and Z have embraced the sharing economy, which may shape the future of architecture and urban planning.

Aside from shared living and co-working, this model also bred a new system of short- term habitation that responds to the needs of mobile citizens and digital nomads.

This generation’s reliance on digital tools resulted in data-driven design practices, such as in planning smart cities, eco buildings, and intelligent mobility.

Sustainability

This generation of Filipino architects is distinct due to their even more heightened
environmental consciousness, which bodes well for the country as it is constantly
ravaged by natural disasters.

Architecture is playing a crucial role not just in shaping our physical world, but also in solving these pressing environmental challenges, not only in ensuring our structures’ ability to remain resilient to calamities but also in designing form and function that significantly reduce our carbon footprint.

A key to this is studying structures from the past that remain resistant to floods and earthquakes until now, which is a testament to their sustainability.

The lessons gleaned from them can be applied when modeling the structural behavior of real buildings when subjected to these hazards.

At a time of numerous challenges from rapid population growth, dense cities, and
climate change, it is laudable that this new breed of architects is rising to the challenge.

They are exerting efforts to reduce the carbon footprint of our civilization and adopting eco-friendly innovations such as alternative energy sources.

Aside from adaptive reuse, they are also conscious of material sourcing and sustainability.

Industry stakeholders must be aware of the great disruption that lies ahead, and
position themselves to take advantage of the changes and opportunities it will bring.

I believe that if their generational characteristics are harnessed, this new breed of
architects have the capacity to transform the industry and allow Philippine design and structures to be more influential in the international arena, and in the evolving human civilization indeed.

robbie antonio

What’s In For Gen Y and Gen Z: Niche Market Trends in 2022

by Robbie Antonio

INSTEAD of casting a wide net towards a mass audience, solopreneurs have benefited from focusing on a specific niche — by identifying a gap in the market, becoming an expert in that, and offering a unique product.

So as the year draws to a close, let us take a look at niche products that trended and see how they appealed to the small and specialized segments of a market that is also now dominated by the values, choices and purchasing power of Generations Y and Z.

Remote work essentials

The younger generation prefers flexible work arrangements, leading to the boom of the gig economy and digital nomads: from influencers, web designers, and virtual assistants, to content writers, online English teachers, and digital event planners.

This resulted in growing demand for tools that help improve remote workers’ productivity, such as home office equipment, ergonomic desks and chairs, laptop stands, and video conferencing accessories like clip-on webcams, lighting kits, and noise-cancelling headphones.

This also spurred unexpected innovations for products that increase comfort and convenience: portable briefcase workstations, tech bags and electronics organizers, home office clothing, as well as armrests and footrests.

The hospitality and tourism sectors benefited from this trend, with the popularity of aesthetic coffee shops, as well as rentals in Airbnbs with co-working spaces that cater specifically to digital nomads from all over the world.

The rise of influencer commerce also gave birth to an industry focused on content creation and reputation management, opening opportunities in social media marketing, aerial and drone photography, video editing, blogging, and podcasting.

Since digital nomadism is possible anywhere with internet connection, this market should continue growing amid the development of 5G networks worldwide.

Sustainable products

Studies show that Generations Y and Z are not only more environmentally conscious, they are demanding the same from the companies that they patronize and sustainability affects their purchasing decisions.

To capitalize on this trend, many startups are positioning themselves as champions of the environment and are highlighting how their processes and products are good for the earth.

These include small steps like using natural or recyclable materials and adopting sustainable programs within their organizations.

Eco-friendly merchandise items are also gaining momentum, from metal straws, bamboo toothbrushes, and biodegradable dental floss, to reusable feminine products, eco-friendly kitchen tools, and recyclable shopping bags.

On a larger scale, this includes big-ticket items such as electric vehicles and solar panels.

Companies said they plan to invest more on these initiatives so this niche should continue gaining widespread adoption moving forward.

Pet products

Several studies show that the younger generation has been waiting longer to marry and delaying having children, with many opting to become “fur parents” instead. More people also adopted pets during the pandemic to ward off the lockdown blues.

Generations Y and Z have become the largest segment of pet owners and are spending more on them since the pandemic. Pet products have become consistent purchases, particularly food with new flavors, vitamins and supplements, treats, and interactive toys.

Eventually, the market further grew with unique offerings such as orthopedic beds for dogs, pee pads, and black light pet urine detector, as well as pet feeders and automatic water dispensers, grooming kits, and customized collars.

Fitness

For generations Y and Z, strong is the new sexy.

Home gym equipment rose in popularity, driving online purchases of weights, rowing machines, and stationary bikes.

Workout attire or “athleisure” became commonplace, alongside a growing demand for fitness accessories such as trendy tumblers, abdominal toning belts, smartwatches, and fitness trackers.

These examples show that finding your niche may help your business stand out from competition amid the millions of stores available online. By targeting a specific audience and product line, you can reduce your marketing expenses, optimize your warehouse space, and control inventory storage costs.

robbie antonio

An Entrepreneur’s Guide To Treading The Post-Pandemic Market

by Robbie Antonio

THE PANDEMIC has become a purification process for businesses, giving birth to many startups amid the death of certain industries and failing companies.

It weeded out those that failed to keep up with the rapidly changing landscape, while giving rise to entrepreneurs with out-of-the box thinking in solving society’s problems.

Entrepreneurs in this era are joining a digital revolution, which drastically changed consumer behavior and enabled new economic activities.

What has changed?

Market transactions switched from offline to online. Industries that used to depend on physical proximity shifted to the digital realm.

For example, companies are redeploying their sales teams to online calls instead of personal client meetings, and real estate brokers are now offering virtual tours of properties instead of the traditional site visits.

Households are getting more reliant on online shopping and deliveries, with cash payments increasingly becoming contactless transactions.

This has opened a broader market for buyers and sellers, one that is not constrained by geographical distance and other logistical hurdles.

More companies are allowing their employees to work remotely, launching the gig economy and merging labor forces from different countries into one global ecosystem.

This highly volatile and uncertain environment pushed many small and medium enterprises (SMEs) to the brink of failure, or to permanently shut down and exit the playing field – while others demonstrated resilience and adapted their operations to the evolving landscape.

And some not only coped with the disaster — but even thrived. There are agile startups that are able to take advantage of their entrepreneurial skills, build upon their experiences from the pandemic, and find opportunities in the crisis.

So, what explains the stark contrast between these businesses?

In the past, the key obstacle to SMEs’ survival was the lack of resources. Now, it is the lack of digital presence.

Best practices for establishing your presence in the new frontier

With changing consumer demand and preferences, businesses are under immense pressure — coming from both internal and external sources — to have an omni-channel presence and to establish a digital strategy.

Entrepreneurs should explore all digital tools available, such as social media, search engine optimization, email marketing, and associated mobile applications — and decide which ones fit well with their digital roadmap.

Since online shopping may be viewed as automated, impersonal, and lacking in human warmth, companies should focus on interactions that nurture relationships with their customers.

For reputation management, assess what potential clients will find if they search for you online. Will they see positive customer feedback or dissatisfied comments?

Do not ignore negative reviews, no matter how unfair they seem.

Always keep in mind that what consumers say has more impact than what you say about your own brand. The public trusts third-party information more than the company itself.

Take advantage of big data to improve your operations and get to know consumers’ needs better to predict their future behavior and introduce innovations.

Since all these digital transactions leave a trail, these create a wealth of real-time data at reduced costs.

These should allow businesses to review previous transactions, make their production process leaner and more efficient, and to come up with complementary products.

A digitally- enabled firm takes advantage of business intelligence to measure the effectiveness of digital campaigns, as well as in choosing the appropriate key performance indicators to gauge returns on digital investments.

Lastly, big data also enables firms to engage in more meaningful communication with stakeholders and to become more competitive.

Hopefully, these points will empower SMEs not just to survive in this post-pandemic world, but to also play a vital role in accelerating economic recovery coming off the crisis.

robbie antonio

Passion and Innovation: The Major Components of a Successful Business

The journey of an entrepreneur is riddled with bumps and challenges, tempting you to pursue easier career paths like employment; but having entrepreneurial passion could help you overcome these obstacles.

Some may believe that business decisions are done rationally, but in reality, emotions are the driving force behind many of the entrepreneur’s actions.

In fact, entrepreneurs often refer to their startups as their babies, reflecting how they feel connected with their ventures on a personal level.

This parenting relationship starts from the conception of the business idea and continues as they nurture their babies while they grow into children.

Putting your heart in what you do impacts your intention, commitment, and persistence throughout your entrepreneurial journey. But it also translates to seemingly unemotional aspects: investment decisions, introduction of new products and services, diversification into new ventures, and your company’s financial performance.

When Passion Breeds Radical Innovation

Entrepreneurs usually exhibit an extra-ordinarily high or obsessive kind of passion for business-related activities, deriving intense positive feelings from engaging in these tasks and allocating numerous hours for their business every week.

This is when the magic of radical innovation happens — when enthusiasm sparks creativity, resulting in out-of-the-box inventions that aim to fulfill their community’s needs.

When I founded Revolution Precrafted Properties, Inc. in 2015, it started with my dream to provide the general public with homes created by world-renowned architects, architects, and designers.

I envisioned the homes to be art pieces but I also needed to make them affordable, so I maximized the latest technology to keep a lid on the costs of the prefabricated structures. Our manufacturers used advanced robotics to create the products, allowing us to finish the homes in a fifth of the time it takes for a regular one.

I drew inspiration from Airbnb, which disrupted the market and challenged the norm through technology.

Going Beyond Profits

These days, many startups are anchored on social entrepreneurship, with a fervent desire to go beyond just making profits and to solve society’s problems.

I believe entrepreneurs are more likely to make moral and ethical judgments when they feel psychologically attached to the cause they are fighting for or the social problems they want to fix.

Meanwhile, there are startup founders who juggle their businesses with their responsibilities as employees in other companies.

As again, the startup is one’s baby, left to care perhaps but nevertheless constantly monitored, and fed. Those who put up businesses while being employed usually balance the two as complementary, with equally strong desires to work on things they are passionate about. This may be especially true for those who are older when they start their businesses.

So how can this passion be ignited?

Internally, individuals may develop passion when they feel confident that they are competent in doing tasks required of the business.

Externally, passion can be nurtured when they believe that they are receiving emotional support from society and government. The affirmations may come in the form of awards, citations and recognition and even financial incentives or grants for startups, from which real entrepreneurs find a great deal of meaning.

Dealing With Failure

Throughout your bumpy, even turbulent, entrepreneurial journey, your passion may not remain consistently stable, but may fluctuate over time especially in the face of challenges and uncertainties like the COVID-19 pandemic.

But it is how you react to failures that will ultimately determine your success; how persistent you are on your countless startup attempts despite setbacks.

During tough times, remember that being resilient can help you bounce back after every failure.

As intensely passionate entrepreneurs, you may have greater feelings of sorrow in times of loss or bankruptcy. You may suffer from a loss of self-esteem if you see the failure of your business as your own failure as a person.

However, you are also more likely to devote time and resources towards nurturing your businesses, giving your “babies” a higher chance of surviving and turning them into profitable companies with a life of their own versus those that are handled by less passionate leaders.

Attracting Top Talent

Being a passionate entrepreneur also has another advantage: it will help you attract competent employees.

The reality is, as startup founders, you may struggle to recruit high-quality talent when you enter the labor market, as you have to compete with bigger companies with established brand names and more financial muscle to offer rewarding salaries and benefits.

But you can compensate for this by articulating your vision and demonstrating passion for your product or service, allowing you to inspire followers and attract enthusiastic employees seeking to work with like-minded leaders.

The Dawn of New Businesses After the Pandemic

Post pandemic entrepreneurship and work culture

In the pre-pandemic world, most businesses were dependent on face-to-face contact, clinging to ideas and conventions long held to be true.

But the lockdowns disrupted the business landscape. The most vulnerable ones turned out to be micro, small and medium enterprises, which suffered losses and faced liquidity issues. Some were slow to react and found it hard to adapt immediately to the shift to online channels, while some had to lay off employees and shut down operations.

In contrast, there were organizations that showed resilience and agility, adapting to emerging trends and changing consumer behavior, and successfully coping amidst the crisis. Financial literacy, cost optimization, and flexibility in technology adoption proved to be invaluable.

We saw an abrupt migration of societal and economic activities into digital platforms, including digital entrepreneurship. Companies, big and small, had to come up with digital strategies or accelerate existing plans. After all, the goal of a business is to adapt to whatever operating environment it finds itself in. For those with disrupted businesses, you must be agile, as there is no going back to the pre-pandemic world we were used to.

Now, as we look at the aftermath of the pandemic, many businesses have closed, but new ones emerged in their place.

My advice to you: Be bold, take risks, and have the courage to act on your ideas.

The virus destroyed a lot of value, drove some products and services into obsolescence, and brought a lot of problems. But this is where innovation is born, when entrepreneurs solve a problem by taking advantage of opportunities. By nurturing creativity, we renew products and services; applying new ideas and processes and introducing new techniques, therefore creating value, once more.

Being an entrepreneur is a difficult task. It requires you to think outside the box and come up with innovative solutions for your organization to survive. The ability to innovate proved essential in this difficult operating environment. If an organization does not innovate, it will be left behind and lose its customers.

As a result, the COVID-19 pandemic ushered in a surge in entrepreneurial activities. Many individuals left their nine-to-five jobs, voluntarily or involuntarily, and found the courage to put up new ventures.

They embody the spirit of entrepreneurship: anticipating the growing needs of a community or solving a problem by replacing the old and outdated. They bring ideas to life, offering them to the market and making a profit at the same time.

Entrepreneurship may be a scary and risky approach to making a living, but it can yield great rewards and lasting fulfillment.

So, take heart, identify gaps in the market, and find opportunities in this pandemic-induced economic disruption.

The Era of Disruptors

We are seeing the birth of new business opportunities, with many retailers pivoting from their traditional brick-and-mortar stores to establishing an omnichannel presence, with online shopping, live selling, personal shoppers, and call-to-deliver options.

When the government prohibited indoor dining, restaurants delivered frozen food packages to their loyal customers. They also veered away from capital-intensive physical stores and put up ghost kitchens, while converting restaurant spaces into al fresco dining.

The pandemic boosted food aggregators like GrabFood and FoodPanda, and brought employment opportunities for riders and delivery men. Forms of digital payments proliferated such as Gcash and PayMaya, and led to the rising adoption of online banking and fund transfers.

There is a growing trend focused on health and fitness, online education, and new software solutions. Meanwhile, work-from-home setups created alternative and inclusive sources of income, as Filipino professionals shifted from office work to online freelancing.

Diskarte Amid Limited Resources

In this context, I also acknowledge that you may be dealing with limited resources, especially at a time of rising inflation and supply chain bottlenecks.

This is another challenge for the entrepreneur: starting a business while making do with what is available and utilizing labor and capital in the most efficient way possible.

It is advisable to review your supply chain and pinpoint potential weaknesses, especially logistics issues. Figure out alternatives, diversify your sources, and secure your inventory for the near future.

There is a silver lining in all of these – the digital revolution.

The Internet lessened the barriers to entry, cut down startup costs, sped up processes and made them more convenient while boosting productivity.

Taking advantage of technological innovation and analytics tools can equip you with the right strategies, and help your company expand into different market segments.

Maximize Technology to Boost Stakeholder Satisfaction

In this time of crisis, it is essential to remain transparent with your stakeholders. Communicate proactively with your employees to reassure them and ensure seamless operations.

Be honest with your customers as they are the heart of your business. Maximize online communication channels to reach out to them, such as instant messaging, social media channels, and product feedback and rating systems.

Take their pulse through surveys and recognize that they are also adapting to the problems caused by the virus.

The Future After the Pandemic

Now that mobility restrictions have eased and people are starting to leave their homes, you may wonder if the newfound opportunities will be gone.

But I believe that consumers will not go back to all their pre-pandemic behaviors. For example, online shopping and online deliveries are here to stay as shoppers already got used to the convenience of online shopping and deliveries.

In addition, more opportunities keep on cropping up as people are eager to socialize in person and there is pent-up demand to spend and travel.

In my view, the post-pandemic generation of entrepreneurs are more fortunate compared to us traditional entrepreneurs.

Nowadays, you enjoy more flexibility over how, when, and where you work. You can have a virtual office, and your employees do not have to be physically situated together. It is also more meritocratic as anyone can run a business with just a laptop, as we see in the boom of freelance workers and the gig economy.

Remote Work as a Weapon Against Climate Change

The digital economy lowers barriers to entry and facilitates ease of doing business. You can take advantage of technology to communicate more effectively with your customers and partners, and in promoting your products and services in the marketplace.

I believe that pushing for a remote work culture will help decongest our cities, especially the central business districts, therefore reducing air and noise pollution caused by overcrowding and heavy traffic.

It also reduces or totally eliminates time and effort spent on commuting and sitting in traffic, cuts living costs by allowing workers to move to affordable cities, and allows companies to recruit talent without proximity-related issues.

We should seize this momentum to help in fighting climate change, and take the pandemic as an opportunity for a great reset.

Some of you may feel that the pandemic destroyed a lot of hard work and value. You may also feel that it amplified the risks associated with entrepreneurship.

But it is up to you to view this pandemic as a setback or an opportunity.

Beyond the profit, what we are seeing today is the democratization of entrepreneurship, especially among the young.

Entrepreneurs emerged as the unknown heroes of the pandemic, showing unwavering passion to solve economic and societal concerns amid the chaos.

Being an entrepreneur means transforming the world by solving big problems through small steps. Continue to nurture your commitment to create a positive change in the community by creating value.

Entrepreneurship and its innovation will play a crucial role in rebuilding the nation. I hope these tips will be instrumental for you, not just to survive the crisis, but to thrive over the long term.