Panelists are shown following the end of the PayMongo-organized panel discussion at the 2024 BUILD Startup Festival. They are BUILD 2024 Host Joey Tekiko, Steve Sy , Luis Sia , Ed Rollan , Franco Varona , and Jojo Malolos Starting a business venture is a rewarding journey, but it is not without its challenges.
To grow the Philippine digital economy by helping aspiring Filipino entrepreneurs survive the ever-growing startup ecosystem, here are the top 4 tips shared by the panelists during the event:This is the advice that Sia, who co-founded PayMongo at the age of 23, would give to his younger self. A startup’s journey to success is a long and bumpy road; hence, founders need to be patient when dealing with obstacles that are bound to come along.
“When you focus too much on growth, you tend to overlook important steps to be able to scale, so it’s important to know the right processes for your business to grow and then eventually be able to scale,” Sy underscored.Varona, who engaged a number of entrepreneurs at Foxmont Capital Partners, emphasized that as business owners, you need to have a reality check and ensure that you have a specific intention to raise capital rather than for vanity or increasing your business’ worth.