Woman Entrepreneur of 2003 - Myla Crespo Villanueva

MYLA CRESPO VILLANUEVA

Managing Director

MDI Group of Companies

Woman Entrepreneur 2003

Myla Villanueva was first exposed to information technology as a working student in Santa Clara University in California, USA. Santa Clara Valley was then rapidly being touted as “Silicon Valley” – the center of the high-tech boom in the mid 1980’s. Villanueva settles in the Philippines after graduating in 1988. She soon discovered that only multinational companies offered data network services in the Philippines. She quickly incorporated MDI to be first local network systems integrator in the country.

MDI first focused on connecting computers into a network, but Villanueva was convinced that IP, now known as the language of the Internet, was the technology to bet on. Within a year of its founding, MDI clinched the first major IP infrastructure project in the country – the Social Security System (SSS) data network. Other clients followed such as ABS-CBN and Meralco. In 1995, Villanueva co-founded Microwarehouse; three years later, she transformed Wolfpac, a network security company, into the largest independent mobile applications and content developer. Wolfpac pioneered in cellphone ringtones, logos, picture messages and text gaming. The GSM Association, a worldwide group of 600 cellular operators, has twice commended Wolfpac as world-class.

Villanueva attributes much of her success to the Filipinos’ ingenuity in animation and software programming. She believes that it is in the mobile arena that the Philippines has another shot at promoting itself as a software powerhouse, with huge advantages when pitted against India and China.

More info about: Myla Crespo Villanueva

• 1st Filipina to win the Woman Entrepreneur Award (2003)
• Co-founder of Meridian Telekoms Inc. (1998)
• Co-founder of Microwarehouse (1995)

QUOTE

"The success of our group of IT companies lies not only in our choice of people but by the technology choices that our people make. We have never been afraid to spot an emerging technology, apply it to real world needs, and take it to mainstream daily corporate or personal use."

USEFUL LINKS
Entrepreneur of the Year Philippines 2004Woman Entrepreneur 2003Discontent at Meridian Telekoms

Business and Success Like Henry Sy, Lucio Tan, Emi Pulido, Myla Crespo Villanueva, etc

Only one of every 5 businesses makes it to its 5th year, and fewer still make it to 10 years. What do the successful businesses have in common?

1. The experience and skills of the top managers. Over half of business failures are directly related to managerial incompetence.

2. The energy, persistence and resourcefulness (the will to make the business succeed) of the top managers. Many business owners have failed or come close several times before their “instant” success. Don’t give up.

3. A product that is at least a cut above the competition and service that doesn’t get in the way of people buying. There must be a compelling reason to buy; the product is great, the people love to provide service, and the buying experience is easy and fun.

4. The ability to create a “buzz” around the product with aggressive and strategic marketing. Make scarce marketing resources count. Do as much homework about your customers and their choices as you can before investing your marketing dollars.

5. Deal-making skills to sell the product at the highest possible price given your market. It comes down to your customers’ perception of the value of your product and sometimes the power of your personality.

6. The ability to keep developing new products to retain and build a customer base. Consider gradual product development based on improvements to the current product line and sold to the current customer base.

7. Deal-making skills to work with resource suppliers to keep costs low. Keeping costs lower than competitors’ and continuing to look for cost reductions even when the business is profitable is key.

8. The maturity to treat employees, suppliers and partners fairly and respectfully. Trust and respect result in productivity increases in ways that may be difficult to see and quantify.

9. Superior location and/or promotion creating a connection between your product and where it can be obtained. Studies have shown it can take seeing your product or name seven times before a customer is ready to buy.

10. A steady source of business during both good economic times and downturns. Over the long term, develop a product mix that will include winners during good economic times and other winners when times are tough.

How to Transform Your Hobby Into a Business?

Starting a business? Are you eager to turn your hobby into a money-making business? Running your own business can be rewarding in many ways, but before you give up your day job, be sure you are realistic about what you'll be doing when you become the boss. Here's a good look at some of the realities you're likely to encounter in your startup years.

In February of this year, I celebrated my 7th anniversary of leaving the corporate world to pursue a lifelong dream of opening a bakery. Having spent the prior seven years as an investment banker, I realized that now I can compare my two careers, to use an investment banker cliché, on a "apples to apples" basis.

On the one hand, I've made a lot less money in these last seven years than I did in my first seven. On the other hand, I haven't worn a pantsuit since early 2004. Pantyhose either, for that matter. I've successfully avoided bailouts, mergers and layoffs, and I control my own destiny. But to control my own destiny, I've invested much of my life savings, not to mention time and sweat equity.

My day-to-day job is not glamorous. On any given day, it can involve washing dishes, paying and filing bills, bussing tables, putting out figurative fires, patiently explaining to a customer why we can't tint chocolate icing pink, and endless other headaches. Despite that, I love what I do for a living, and I am infinitely happier in life than if I believe I might've been had I not left.

I am living my childhood dream of owning my own business. To top that off, I make sweets all day and get to decorate cakes for a living -- two things that constantly bring smiles to peoples' faces. My daughters understand what I do and are proud of me. So I can confidently tell you that leaving a corporate job to turn your passion into a profession can be immensely fulfilling, as long as you don't go about it haphazardly.

8) Get the money lined up.

Save up if you have to. Approach potential investors and lenders. Figure our your financial fall-back plan. Don't expect to start a business and then walk into a bank and get money. Traditional lenders don't like new ideas and don't like businesses without proven track records.

9) Be professional from the get-go.

Everything about you and the way you do business needs to let people know that you are a professional running a serious business. That means getting all the accoutrements such as professional business cards, a business phone and a business email address, and treating people in a professional, courteous manner.

10) Get the legal and tax issues right the first time.

It's much more difficult and expensive to unsnarl a mess afterwards. Does your business need to be registered? Will you have to charge GST or PST? Will you have to have Workers' Compensation Insurance or deal with payroll taxes? How will the form of business you choose affect your income tax situation? Learn what your legal and tax responsibilities are before you start your business and operate accordingly.

Following the advice on starting a business above will make starting a business both a smoother, less stressful process and go a long way towards ensuring the busines you start lasts and thrives.

Tips to Start a Business

Do your Interest
You're going to devote a lot of time and energy to starting a business and building it into a successful enterprise, so it's really important that you truly deeply enjoy what you do, whether it be running fishing charters, creating pottery or providing financial advice.

You can start your business while you are still employed
How long can most people live without money? Not long. And it may be a long time before your new business actually makes any profits. Being employed while you're starting a business means money in your pocket while you're going through the starting a business process.

Look for partners

You need a support system while you're starting a business (and afterwards). A family member or friend that you can bounce ideas off and who will listen sympathetically to the latest business start up crisis is invaluable. Even better, find a mentor or, if you qualify, apply for a business start up program such as The Self-Employment Program. When you're starting a business experienced guidance is the best support sytem of all.

Look for sure clients

Don't wait until you've offically started your business to line these up, because your business can't survive without them. Do the networking. Make the contacts. Sell or even give away your products or services. You can't start marketing too soon. (See Attracting New Business on a Shoestring Budget and Just Do These Two Things 

Make your plans and backup plans

The main reason for doing a business plan first when you're thinking of starting a business is that it can help you avoid sinking your time and money into starting a business that will not succeed. (See Why You Need A Business Plan for other good reasons.)

Remember, you don't have to work through a full scale business plan for each new business idea you come up with; my Quick-Start Business Plan, for instance, will let you test the potential of your business idea much more quickly.

Research and know your competition

You'll do a lot of research writing a business plan, but that's just a start. When you're starting a business, you need to become an expert on your industry, products and services, if you're not already. Joining related industry or professional associations before you start your business is a great idea.

If need help from other businessman..... do it

On the other hand, just because you're starting a business, doesn't mean you have to be an expert on everything. If you're not an accountant or bookkeeper, hire one (or both).(These Tips for Finding a Good Accountant may be useful.) If you need to write up a contract, and you're not a lawyer, hire one. You will waste more time and possibly money in the long run trying to do things yourself that you are not qualifed to do.