In the Ateneo de Manila University, students are given a chance to become entrepreneurs through the JSEC Challenge. In this challenge, students establish their own businesses, mainly restaurants and attempt to earn a slot in the John Gokongwei Student Enterprise Center (JSEC). JSEC is one of the many places to eat inside Ateneo, but stands out from the rest for all establishments there are operated by students, in order to give them a taste of what it means to be an entrepreneur. Here are some entrepreneurship tips from those who have experienced the JSEC challenge.
Know the Limitations of Your Goods
if you’re gonna cook chicken, be careful cause it dries out pretty quickly. otherwise, don’t bother with chicken.A History Major
Chicken may be a great-tasting food, but when dry, its taste is diminished. So, don’t serve it unless you are careful enough. This goes for all other products, for it is very important to know the limitations of your goods, or else you won’t attract customers. This is also true for services as well.
Know Your Customers and Competition
The easy-in way is to use the niches. There’s always many “asian”, many “sandwich” entries, but often 2-3 drink stand entries. JSEC makes sure they have some takeout stands on far areas like matteo and rizal lib, hence you usually see sandwiches there. They usually have at least one drinks stand too. Know your competition.AMF Entrepreneur
For a business to be successful, it is important for it to have a solid customer base. So, please, know the competition and find your niche. Remember, to be above the competition, you must be able to offer something unique to your customers. So, know your customers’ needs and offer them something that the competition cannot offer.
Cleanliness is Important
Cleanliness is on the criteria so make sure your stand is not only solid, but well-equipped with sanitation stuff.AMF Entrepreneur
Cleanliness is important, not just in the food industry, but in all kinds of businesses. This is not only to protect the health of your employees and customers, but to leave a good impression with potential customers. Everyone loves to patronize a clean business, right?
Advertise Your Product/Service Properly
If you’re gonna blast profile pics, show actual food.Mr.A
You don’t need to be a photo-ho but having org friends and a good review on the right ADMU pages helps to have decent revenue.AMF Entrepreneur
Advertisement is important for entrepreneurs, so be sure to advertise properly. This means that the product/service should be the most important priority. Also, try to make sure your advertisements are based on the truth, to avoid nasty reviews, which are bad for business.
Obey All Rules
Don’t get negative points for violations.Mr.C
When doing business, it is important to obey all the rules, especially labor laws. Rule-breaking can either disqualify JSEC Challenge Participants, or for all other businesses, violations of the labor code can lead to you having a criminal record. Thus, violating labor laws is not only morally and legally wrong, but it will drive away customers. After all, no customer with a conscience will feel comfortable patronizing businesses that don’t obey the law.
The JSEC Challenge is an Introduction to Entrepreneurship
In the end, even though the JSEC Challenge is a student competition, it is a taste of what the realities of entrepreneurship can be. Also, just like how JSEC Challenge participants come from all sorts of majors (not just management), anyone can be an entrepreneur. So, for those who want to establish their own businesses, follow these tips from experienced young entrepreneurs, and turn your big ideas into reality!