Achieving Success by Taking Chances

Poverty deprives people of the simplest to the most important things—food, clothing, shelter, safe drinking water, and even the right to education. But poverty, if dealt with positively, may transcend into hundreds of opportunities for change. Take the case of two inspiring entrepreneurs—Rey Calooy and Cherry Yack, Sr.—who have made poverty their driving force to succeed in life. The Optimist  Cherry Yack, Sr., 44, used to work in a rattan factory in Cebu from 1984 to 1991 until he decided to go to Malaysia for a greener pasture. There, he worked as a bulldozer operator for seven years. He was earning P20, 000 per month and remits half to his wife back home. The rest was barely adequate for Cherry’s monthly expenditures. His earnings failed to give his family in the Philippines a comfortable life. In 1999, he returned home after realizing that the amount he was earning does not compensate to the sacrifice of being away from his family. They settled in Zamboanga, his hometown, and put up a fish-drying business. Unluckily, the business did not thrive well. Instead, it further depleted their scarce savings. They closed it down and set up a Cassava cake business instead. Cherry, who serves as the “chemist” in the business, started with a single oven. In a year’s time, the business started to pick up. As the business continued to prosper, Cherry’s hard work afforded them with their own house in Consolacion, Cebu in 2003. Year 2004 was one of the most crucial years for Cherry’s business, since the Cassava mass poisoning tragedy in Bohol greatly affected his sales. Clients were returning their orders and regular buyers stopped placing orders for his cassava cake. With seemingly hopeless setback, Cherry also had to reduce the number of his workers because he couldn’t afford to pay their salaries due to the loss of income. Cherry also thought of closing down the business and looking for another job to sustain his family’s needs. But, he and his wife are strong believers in the power of prayers. As a solution, they decided to temporarily stop baking cassava cakes and introduce an alternative product—banana cake. Gratefully, orders started to come back.  Two years after, Cherry reformulated his cassava cake to further improve its taste. Luckily, his customers began patronizing his cassava cakes. His business began to thrive once more.  To date, Cherry delivers daily to all the University of Cebu (UC) branches, South Western University, San Jose University, San Carlos University, Mandaue Market, and to numerous canteens and restaurants in Danao and Cebu City. The Innovator Rey Calooy came from a poor family in Libagon, Southern Leyte. A graduate of Bachelor of Science in Accountancy at the University of Cebu, he used to sell bookmarks out of used cartons, greeting cards out of recycled papers, and other homemade recycled goods to his schoolmates just to make money. At that point, he was already trying his luck as a young entrepreneur.  Now, Rey’s innovative mind has gone a long way. In fact, he is the brains behind the innovation and technological breakthrough of Ginger tea powder (with anti-cancer compounds), Squash Pancit Canton (an idea that stemmed when typhoon Besing struck the towns of Southern Leyte in 1984 and Rey’s family had nothing to eat except for the squash that his father planted), and Rhea Laundry soap where he uses cooking oil as its main ingredient. The idea of making soap out of used oil developed when he was discussing to his friends a product that is highly marketable and inexpensive. Thus, making soap out of used-oil would make the product less expensive without having to sacrifice its quality. Not only are Rey’s products marketable, his innovations have surprisingly helped the field of agriculture as well. More of farmers are now encouraged to plant squash and ginger, so they may also be able to serve as suppliers for Rey’s Ginger Tea Powder and Squash Pancit Canton. Furthermore, his efforts help poor farmers mobilize their production and make money.  Also, Rey does toll packing of coffee, non-dairy cream, refined and brown sugar, which are being supplied in all branches of the famous Starbucks Coffee.   Being a successful inventive entrepreneur, Rey still dreams that someday our country becomes a nation of entrepreneurs. This, he believes, is a dream that may become the impelling force that will inspire Filipinos to be innovative businessmen, just like him. Cherry Yack, Sr. and Rey Calooy will be two of the Most Inspiring Cebuano Entrepreneurs to be acknowledged on June 20, 2008 at the Go Negosyo sa Cebu, the latest leg of the continuing Go Negosyo campaign spearheaded by Presidential Consultant for Entrepreneurship Jose Concepcion III, at the Cebu International Convention Center. Go Negosyo 2 is presented by the Philippine Center for Entrepreneurship in partnership with the Cebu Chamber of Commerce and Industry President Edward Gaisano; Cebu Go Negosyo Chair Jay Aldeguer; and Cebu Business Month 2008 Chair Tess Chan. Go Negosyo sa Cebu will also be graced by Presidential Management Staff Director General Cerge Remonde, who heads the Inter-agency Committee helping the Micro SMEs. Member agencies will be present to reach out to the participants.  Awardees were endorsed by the Micro Finance Council of the Philippines, Bangko Sentral ng Pilipinas, Citigroup, Ramon Aboitiz Foundation Inc., Cebu Micro Entrepreneur Development Foundation Inc., and Taytay sa Kauswagan Inc. Go Negosyo sa Cebu is also made possible with partners PLDT SME Nation, Smart Communications, RFM Corporation, San Miguel Corporation, Condura, Ariel Detergents, Nokia, Splash Group of Companies, Banco De Oro, Vintel Logistics, Sterling Group of Companies, Lamoiyan Corporation, and President Social Fund.