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7 factors that make or break a business
Photo by Shell Philippines
Jul 05, 2012
Many think that venturing into business with a popular franchise brand guarantees success, but Eva Tan, owner of three Shell gasoline stations in Cabanatuan City, Nueva Ecija, says that one needs to do business with his heart in it to be successful.
In May 2010, Tan bested retailers from 63 other countries and became the firs Filipina to bag the Shell Global Multi-Site Retailer of the year for 2009. Tan’s Jemsek Corp. Philippines, was chosen owing to its consistent display of operational excellence throughout 2009.
“It really came as a surprise for us as we were not expecting anything. Just imagine with nearly every nationality present and vying for the award, who would have thought that someone from Cabanatuan will win the prestigious award?” Tan said.
Asked if there was anything special that she did in running the business, Tan said it was by putting her heart into it that really made the difference.
“Even if it is the Shell brand, it will not be successful if you do not have your heart in the business,” Tan said, adding that there are several other factors that can affect the success of a business venture.
Here, Tan shared with Entrepreneur.com.ph seven things that can either make or break your venture:
1. Quality Service
The people you put to run your business, from the crew to the managers, the supervisors, all of them will be reflections of the name of the company, and your name as the owner of the business.
“Expect nothing but the best from your employees but you must also compensate them well. It is a give and take situation. In our Shell stations, our employees are regular and we do not do contractual employment. We give them all the benefits but we expect them to perform well on the job and the formula seems to be working,” Tan said, adding that some of her employees have been working for the company for nearly 20 years already.
The product in itself is one of the bigger factors that can spell success or failure. “You must be selling the product or brand that you, yourself, believe in. With Shell, it is a product that we also use in our own vehicles,” Tan said.
The strategic location of the business establishment crucial in any business. In Tan's case, her Shell stations are all located in the major highways of Cabanatuan City.
“It comes with any business venture. Other businesses will need locations with high foot traffic, others, like the gasoline station, will need vehicular traffic that is why we situated our businesses along major thoroughfares,” Tan said.
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