David Licauco's tips for running a business effectively

Actor and entrepreneur David Licauco has proven that he's got management skills. That's why in a recent interview with GMANetwork.com, David gladly shared some top tips on how to properly run a business.

At age 25, David is already managing a few franchises of popular fast food chains in the country as well as a gym, logistics company, online food delivery service, and his most recent venture, As Nature Intended, a health and wellness online one-stop shop.

Source: davidlicauco (IG)

The actor related that there's a trial and error in every business and the best way to lessen your errors and to smoothly run your business is to continuously seek effective advice from experts who can become your mentors later on.

“There's no specific or particular blueprint that you can follow na magsa-succeed agad itong business na 'to,” he said.

But as an experienced entrepreneur himself, David has some advice on how to develop a clear path for your business.

Here are David Licauco's tips on how to properly operate or start a business:

1. Identify the needs of the consumers

2. Work on the concept of your business

3. Have the courage to jump into the business

4. Know your strength and weaknesses

5. Find the right partners

6. Go through the legwork

He added that one has to invest time and effort on his business for it to succeed.

“You have to be attached to it. You have to invest your time, your effort, and money to a business para mag-succeed siya.

“Same naman 'yan sa kahit saang bagay. I think even in relationships, if you invest your time and effort and your whole self tapos wala naman pala, sasabihin mo pinaasa ka, maba-bad trip ka 'di ba?

“Ganu'n lang din naman 'yung business. Kailangan mo lang din talagang magbigay ng oras para alagaan mo siya in the long run,” he added.