As any successful entrepreneur would attest, achieving financial success doesn’t happen overnight as it takes a lot of patience, hard work and sacrifices to build and grow a business.
While there is no fine blueprint or shortcut towards guaranteed success, Odilio Alcaria, an award-wining franchisee of 7-Eleven, shares his personal stories and valuable advice that can positively inspire others in their entrepreneurial journey.
For Alcaria, success is dependent on how well one works on the business. “This includes the time you need to invest―make sure you understand what’s involved,” he said.
Alcaria identified a must-have skill set for aspiring entrepreneurs: absolute clarity of purpose; belief in themselves; ability to focus on the most important things first; an open mind; resilience; and a “millionaire mindset.”
Another winning tip is to build a connection and to learn from shortcomings. “What does it take in running a successful franchise? Make sure that you speak to other franchisees, not necessarily just the most successful ones. It’s great to learn from your mistakes. It’s even better if you can learn from those of others so that you don’t repeat them and to make better, informed choices,” he said.
While he maintains that there is no perfect business, Alcaria finds comfort in the fact that while they encounter problems in their stores on a daily basis, “the 7-Eleven people are always there to support us.”
Alcaria also counted teamwork and trust between owner and staff as pivotal factors to the success of the business. “Connecting with your own people, not just customers is highly important. It’s not only how you execute your work; it’s how you work harmoniously with your people. And by managing our own 7-Eleven, we got the opportunity to help people to get jobs,” he said.
“We always make sure that they are fine and okay inside the store, through communication. Managers are obliged to report daily the clerk concerns to avoid problems and misunderstandings. To maintain good relation and make them feel appreciated for their contribution to the company, we also provide healthy social activities like sportsfest, summer outing and year-end party,” he said.
A proud c-store franchisee since 2013, Alcaria and his wife manage four stores: They have stores in Barangay Parian in Calamba, Laguna; Pulo in Cabuyao, Laguna; Balibago Market, Sta. Rosa, Laguna; LIIP Mamplasan; and a soon-to-open store in Pansol, Laguna.
Alcaria said that one reason for their success is that the 7-Eleven franchise model gives entrepreneurs several advantages from the start.
“Franchise owners get immediate access to key sources that can help them grow their business. 7-Eleven also provides tremendous resources, from training to technical support and much more,” he said.
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