My dream business is gone

by Rainier on October 15, 2006

It’s been a rough four (4) months (I found out about the closure in June 2006 – My business opened in April 2005). My business folded without my knowledge. All the years of preparation right in the middle of my MBA program, all the years of savings from day one when I arrived in America, all of the blood, sweat and tears to get to where I am, it all came crashing down and I am back to where I started from before.

Who’s to blame? ME. No one else.

It’s one basic lesson in entrepreneurship that I learned smack in front of my face. Find some good people and manage your business just like your life. It’s your money. It’s not theirs. This is your life, not theirs.

I’ve made several a lot of fucking basic mistakes.

  • I failed to find good people
  • I gave away my trust unconditionally
  • I left the managing of business to someone else
  • I can’t manage and control the manager

This is the reason why I disappeared for awhile. To sort things out and pretend everything is ok. Duh!!! Buang! Everthing’s not ok! Not only did I lost money big-time, but a lot of broken family¬†relationships that I don’t expect to heal ever.

Isn’t it ironic? I gave out advice to my fellow OFW’s and yet, here I am, a total failure? Isn’t it ironic that I should be the better knowlegeable but yet – basic stuff that I ignaramusly ignored?

It really doesn’t make any difference if you have an MBA, a CPA and a Master’s. In business, it’s dog-eat-dog matira ang matibay. What it really boils down to is being a street smart and all these CPA’s, MBA’s and Master’s title you have is nothing more than giving you some level of confidence that you can beat it out in the world of business.

And so here I am. Don’t pity me! None of that. As my friends have been yelling to me, “BUTI NGA SAYO! MATIGAS ANG ULO MO EH! ANG TANGA-TANGA MO KASI!”. I get bombarded with that all the time. I don’t mind. My mind is somewhere else.

So there… a chapter in my life has gone by. It’s a new beginning and I hope, there’s another opportunity out there somewhere waiting for me. I pray, I will still be blessed, this time, with a good, working and profitable opportunity.

{ 16 comments… read them below or add one }

pinoytrader October 16, 2006 at 3:04 pm

mam reyna,

it is through failure that people becomes successful. it is by mistakes that we learn how to do things right…so wag ka na malungkot…you are still alive aren’t u? :)

let me share the interview below to you:

“What is the secret of your success?” a bank president was once asked.

“Two words: Right Deceisions.”

“And how do you make right decisions?.”

“One word: Experience.”

“And how do yuo get Experience?”

“Two words”

“And what are those words?”

“Wrong decisions”.

btw, have you seen the commercial of UBS? :), try catching it on CNBC sometimes. good luck mam reyna..

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Reyna Elena October 16, 2006 at 4:40 pm

Thanks for those nice words. I know, if you can rise from your failures, then it would be sweeter. But this UBS thing is much more beautiful. Pero di ba nga, we learn from our katangahan?

I just wish that I’d have another opportunity. Just once more… And I promise I’d be truly careful not to make the same stupid mistakes…

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dcbato November 2, 2006 at 4:23 am

hey, nice experience! don’t be too hard on yourself, I know you learned you learned your lesson but it is in no way that it is from ‘Katangahan’… it’s the common notion for pinoys in business to trust their own pinoys and then feel like they are stupid and then they lose their trust on their fellow pinoys to do business again… first and foremost, money is hard in pinas, there’s nothing you can do about it, every pinoy knows what a good opportunity is, and everyone grabs it at the sight of money in front of them… second, pinoys are emotional, meaning they tend to link their personal emotions even with their work, ‘kamag-anak’, loved-ones or just the god-damn everyday ‘traffic’… I hope your experience would not be a blunder for you to do business again in PI, or else who would help our country but our own selves… don’t worry, you’re not the first to be like this, no wonder a lot of investors feel that way too… but we must learn to improve our ways and learn to trust our fellow pinoys also, it’s a matter of learning and trusting, and more of learning the hard way… The Philippine setup is unique and crazy, and you need to get involved in it to know the ins and outs of the business there, the people, the govt, the traffic and the attitude… These attributes are far too different from the one we read in traditional textbooks or degree courses, so open your eyes and mind about it… once you learn its secrets, everything would be much clearer to you… good luck on your next endeavor!

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Reyna Elena November 2, 2006 at 11:27 am

It’s honestly and purely katangahan ko in a way because I was hard headed enough to not listen to the things that I was seeing and continued to ignore them feeling that it was just temporary. I mean, I saw the signs already but I closed my eyes. Bakit nga ba? Just because they’re one of my own.

Honestly, I’ll do it again. Is is love for the country, hell no! Is it love for my fellow pinoys? Uh-uh! Zero. I’ll do it, because it’s my dream and as far as I am concerned, it might take a little while, but yest, I’ll do it again. And the next time around, I think I have learned enough not to pass the same way I did before.

Thank you for all your wonderful words bato.

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Linaka November 9, 2006 at 12:46 am

Dear Reyna Elena,

I feel your pain. It happened with me too. Put up a sari sari store- managed by a sister and a brother. Six months later, bankrupt na, brother abandoned the store. Sister and brother blamed each other. Brother nagtatago ( almost 2 years na) It almost destroyed our family relationship . It hurts. Mahirap talaga. But I have to forgive them for me to move on.

I enjoyed reading your website. Thank you for your sense of humor.

Linaka

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Reyna Elena November 9, 2006 at 12:53 am

Linaka,

Thanks for visiting my site. This is the part where “ang hindi marunong lumingon sa pinanggalingan, hindi makakarating sa paroroonan” and this is the problem of my relathieves. I am the provider and yet, lolokohin pa ako. They must be nuts thinking that I will continue to provide kahit na niloloko na ako, ni walang respeto to me and everything. If they are smart, they should have respected me para tuloy ang provision. It’s as simple as that. Magkadugo siguro mga relathieves natin.
:-)

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omar urqueza December 26, 2006 at 8:45 am

Things that happened to you really had to happen so we can grow. Its true we learn from our experiences. If we can stand from our fall and walk again, we grow stronger. We become more mature.

My name is Omar. I also operate an internet cafe. I started Sept. 2004 its going 3 years. Its not earning as good as it was durig the first year because of competitors. You are right we should manage our own business because its our money. I employ only one personel, “My bantay” for the iternet cafe when my wife and I go to work. I never employed a relative because it is one of the principles of business. Relatives are the last priority to be employed for ur business para mapagalitan mo pag nagkamali.
Our internet system has a complete monitor control as to how much time was spent on each computer. I count the bond paper and check the record in the evening how many were printed.
I make the “bantay” responsible for anything damaged or lost. Pinapabayaran ko sa kanya pag di nya masingil sa customer ang nasira.
My problem now is cut throat competition. dumadami internet cafe d2 sa amin sa proj. 8. di naman nalulugi. bumabagal lang ang ivestment return. pero pede na rin. katulong ko magbayad ng apartment. tsaka mahilig kc ako talaga sa computers.
Do you know that most of the most successfull businessman has failed at least 3 times?. marami sila from Ford, to Disney to the wrold renowned billionaires. sila lahat nagfail sa first three attempts nila pero di sila sumuko. they learned. Ako second attempt ko to. Nagconstruction ako dati. Nagfail dahil sa mga clients na matagal magbayad. di ko na mapaikot ang pera. sinara ko.

Lets learn from where we fall. wag tau sumuko. I wish to see you active and full of life businesswoman again. see you around.

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reyna elena December 26, 2006 at 12:18 pm

Omar,

That was sweet and really nice. You’re quite right my friend. I do am quite familiar of a lot of successful fortune 100′s richest to have had the same experience as I had. Not in the same degree, however. Donald Trump for one has had a lot of stumbles and falling out as a matter of fact, before he became Donald Trump.

I am not surrendering. I may slow down a bit because of lack of funds at the moment, but I will be back with ferocity! And damn it! I knew why I failed! THAT was my second business though. Although the first one did not fail – I left it because I flew to the US. This was my 1st and I hope the last.

My former boss who instilled in me the courage to face reality and fight against odds is what guides me to see how far I can go against odds and even be successful. Failures sometimes are success in disquise.

Thanks for the kind words my friend. I will still be an entrepreneur.

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ghandee March 25, 2007 at 5:41 am

mahal na reyna, ngayon ko pa lang nabasa tong post mong to. sa totoo lang wala na kong masabi dahil lahat na yata ng magagandang dapat sabihin eh nasabi na nila. wala lang gusto ko pa rin magcomment kahit papano. hehehe.
dumanas din ako nyan, yun pinakamamahal ko dating restoran na kunya-kunyarian eh di naman nagclick, ayun nashoktay sya agad. kaya napraning din ako non eh pero naisip ko mali din ako, kung ako mismo siguro ang nangasiwa non dati eh siguro kahit papano maaayos. pero wala eh. may isang bagay lang akong natutunan. na kahit gaano ka katiwala sa isang tao, pagdating sa pera, wag ka masyadong tiwala! hehe. iba na pag pera ang pinag-usapan. :(

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reynz March 25, 2007 at 7:09 am

ditto ghandee… ganun ang malupit na karanasan ko… hu! hu! hu! pina-alala mo na naman! Huwaaaaaaaaaaaaaaaaaaaaaaa!!!

pero di bale! napuri mo naman ako! sipsip ka talaga ano?!

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ghandee March 25, 2007 at 11:20 pm

^hehe! galing nakilala mo na agad ako? hehe.

pag nag put up ka ulit bago business, gawin mo ko PA ha? as in PERSONAL ALALAY. jojombagin ko yun kasama mo magmanage ng business pag di tumino. haha.

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reyna elena March 26, 2007 at 12:48 am

actually ghandee, i opened another one. we should start operations soon. tsaka ko na sabihin baka mapurnada! he he he

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lovenia December 14, 2007 at 12:28 am

hi, can i ask for big advice and help as well.. advice as to how can i bethere in america? i a curretly living in france and married to french..email kami sa embassy, wala sumasagot, kailangan ko ba ng visa even if andito ako sa france?.. tulungan nyo naman ako mga kababayan oh.. cge na [email protected] emal add ko

anyways, back to the topic, medyo tanga ako kaya mabuti na lang na nabasa ko article mo madam elena, madali kasi ako magtiwala, and this article made me think na dont trust people too much..

God bless us all and Merry Christmas

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lovenia December 14, 2007 at 12:23 pm

non, c’est moi mon amis.. merci beaucoup pour les informations, trop agr√©ables de vous..

anyways, yon and problema ko elena, d ako french citizen, tumawag na kami sa embassy ng pinas d2 sa france, sabi sa pinas daw ako contact.. ewan ko na.. ang problema ko lang eh, ano requirements at ano klase ng visa kailangan ko.. sana tulungan mo ako sa pangalawang pagkakataon… salamat ([email protected] ang aking email add)

God bless us all

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reynz December 14, 2007 at 12:53 pm

de rien lovenia. i will email you later na lang.

reynz’s last blog post..My disappearing retirement money!

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reynz December 14, 2007 at 2:18 am

lovenia,

bonjour! et merci beaucoup pour ton visiter mon site! at ewan ko kung tama ang sinabi ko! hehehe!

am not really sure if i can help you but i think pag french citizen ka di mo na kelangan nang visa. i advise you to go to the embassy dahil mga tamad naman talaga mga yan magsagot nang email.

reynz’s last blog post..My disappearing retirement money!

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