Viewing entries tagged
PSE

[office hours] “But I don’t think my idea’s that big.” —Don’t sell yourself short. You may be sitting on a $500M USD business.

[office hours] “But I don’t think my idea’s that big.” —Don’t sell yourself short. You may be sitting on a $500M USD business.

I hold office-hours meetups, akin to the Clinics that A_Space holds, wherein they bring in subject matter experts, and they co-work side-by-side with budding entrepreneurs. Sometimes we sign NDAs before we get into it, often not though: but almost always a no holds barred discussion about what I need as a venture office and what the founder needs. I either work in the foyers at the office—or cafeterias—, or I actually work at co-working spaces (just as long as the internet runs per workstation at > 30mbps.

One founder in particular, came in, and wanted to chat about her food and beverages business. Particularly, she wanted to get into the catering business. Five minutes in, I found myself reiterating points on thresholds and criteria that my own personal venture office, Katalyst.ph, which I’ve committed another block of $1M USD to investing in the startup ecosystem here in the Philippines—in the way of grants mostly, and startup seed capital. 

Popular publicly listed food businesses in the Philippines.

Popular publicly listed food businesses in the Philippines.

Why’s it important to be aware of what the PSE’s doing on a day-to-day? Now, I’m not talking about keeping up with its day-to-day, but just being aware of what its primarily function is, and what its outputs are for the markets, its users, traders, partners, etc.

It’s important because at the outset of your startup in this country, from your by-laws and corporate structure, to the establishing of your fiscal year and the maintenance of your books, you’re setting forth and establishing the foundation for what could be a significant financing event (I’d hate to use the word “exit”—life hardly halts when your business lists publicly; in fact, work only piles on at this point).