Ever wondered how to stay ahead in business with all the new technology coming out, especially with AI? Well, we got some great insights from Janette Toral, a true legend in Philippine eCommerce. Here are three simple but powerful rules she shared that every entrepreneur should live by.

Rule #1: Pump the Brakes and Do Your Homework

Janette says the biggest mistake new entrepreneurs make is getting too excited and jumping right in without doing their homework. They see a cool product with no competition and think, “This is it!” But here’s the catch: a lack of competition doesn’t always mean there’s a huge demand. It could just mean that the product isn’t something people really need.

So, before you go all in, take a step back and get to know your battlefield:

• Check out the competition. What are they doing right? What are they missing?


• Get to know your customers. Who are you really trying to reach?

Think of everything as a test run. You might be surprised by who actually buys your product.

That’s okay! It’s all part of the learning process. The key is to stay flexible and be ready to

change your game plan.

Rule #2: Be Smart with Your Money and Go Digital

The way we handle money and marketing has changed big time. When it comes to finance,

Janette says it’s crucial to be responsible. A lot of new apps make it super easy to get loans, but

these should be used to grow your business, not to buy a new gadget.

Also, since the BIR is pushing for everything to be digital, small businesses really have to get

with the program. This means using:

• Computerized accounting systems to make things easy.


• Point-of-sale (POS) systems if you have a physical store.


• One Person Corporation (OPC) if you want to keep your business and personal

finances separate—a smart move for long-term protection.By thinking ahead and managing your money wisely, you’ll set your business up for success.

Rule #3: Build Relationships, Let AI Do the Heavy Lifting

When it comes to marketing, AI is a total game-changer. Back in the day, you needed to hire a whole team of experts, which cost a fortune. Now, with AI, you can get a month’s worth of content for your website or social media in just a couple of days.

This frees you up to do what AI can’t: build real relationships. You have to get out there and meet people. Network. Build trust. No matter how clever an AI is, it can’t bring you a personal referral from a friend who believes in you.

Janette also has a few other tips:

• Try live selling. Use the slow moments in your store to go live online and connect with customers directly.


• Never stop learning. Set aside time each month to learn new skills. If you don’t, you might get left behind by the very technology that’s supposed to help you.  Ultimately, remember that AI is just a tool. It’s powerful, but it’s not a replacement for your own brain. The real magic happens when you use AI to handle the small stuff so you can focus on
  
  building your business and connecting with people.