Wednesday, January 21, 2009

What Multiply.com's Founders Have to Say to Budding Filipino Entrepreneurs

Millions of Filipinos use the Internet everyday. And according to one local business magazine, 2.2 million of those Filipinos (and growing) use Multiply.com - a relatively small social networking site compared to Web giants like Facebook or MySpace.

Both established and informal Filipino entrepreneurs use the site's free services (like blogs and photo uploads to name a few) not only to socialize online, but to do business as well. Business, after all, is like a social networking site. It's also about building relationships -- profitable relationships that is, with other businesses and customers.

Peter Pezaris and David Hersh, the founders of the site recently visited the country last year, and here's what they have to say to all aspiring Filipino entrepreneurs (Source: Entrepreneur Philippines magazine).

HERSH: "You should always learn by doing, not by reacting. You should always be PROACTIVE, and not be afraid to make big moves that you think will make your company better."

PEZARIS: "In the tech community, we are fond of saying "Ready, Shoot, Aim," which means that you should get your shot out there fast, evaluate the results, and then recalibrate it.

It's such a fast-paced market, and being first is such a huge advantage. The most critical part is knowing that the little changes don't always do it, and that consistent innovation should be the name of the game. Knowing your business inside out also ensures that you know which buttons to push, and dials to turn when you hit a snag."

Source: Entrepreneur Philippines magazine, September 2008 issue

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