Is there a right age to start a company? Is 32 too late already to own a company?
The company, Octaries Construction and Supply has turned 22 last January 19, 2022. This company was created by my husband, Jom and I on the 19th day of January, 2000 which we fondly called our first baby.
Company Name
How we got its name? It is a combination of my birth month and Jom’s zodiac sign. I was born on October while he was born on March which is an Aries zodiac sign. Hence, the result of the combination is October-Aries, shortened to OCTARIES.
Registration and Permits
Starting a company was not easy since we had no big amount of savings. Moreover, we had no friends, family nor institution to ask for financial help. No one else but only the two of us, solving and calculating even a single cents of money in the pocket. I remembered Jom telling me during the processing of the registration of the company that he had to walk. He walked from one agency to another just to save the fare amount. As well as, he took only biscuits and water whenever he felt hungry.
After a week of processing, finally we got the permits to operate. It was a mixture of happiness and fear that covered my whole being. Happiness because I became a business owner, while there was fear since I did not know what lies ahead of us.
Division of Work
It was agreed that we have to work hand on hand taking care of the company to succeed. Since Jom is an engineer, he is in-charge with the operations on the ground. He closely monitors the project, from the workforce, to materials and supplies, equipment and the overall quality work completion on time.
While I am an accountant by profession with extensive experience in the field of accounting, bookkeeping, audit and finance, naturally, the office administration is assigned to me. Making it sure that the reportorial reports must be submitted to government agencies on time to prevent penalties.
First Project
A week after, the first project was awarded by a cement company on February 2000. The project amount was only as small as P27,000 or $540 but we were jumping for joy then. Having a profit of 26% for a week’s job completion was not bad at all. While the succeeding project was of same amount of $540 also but at this time the profit went higher to 74%. Wow! that was really great.
As the years went by, we completed various projects like, mechanical works, building insulations, building construction and renovation, foundation works, bored piling, pier fendering, roads and bridges and etc. Jom traveled all throughout Mindanao areas.
First Property Purchased
During the first year of operations of our company in 2000, having bought the first appliance was so overwhelming to us. It was a JVC component that we used for bonding with kids thru watching movies and videoke singing. Because of that videoke singing, the reading abilities of kids were developed amazingly.
Obstacles and Challenges
Like any other businesses, we encountered lots of problems too:
- There were employees who were dishonest that they took advantage Jom’s generosity.
- Some clients were not paying us for the job done.
- We engaged a loan shark just to pay salaries and etc.
- We even sold some of our properties just to solve an obligation.
Dealing with insurgencies is very crucial here since most of the projects are located at remote areas. In fact, a real encounter and actual bombing near the project site was actually experienced by our people on the ground. Fortunately, nothing harm happened to them.
Fruits of Labor
Though not all the time is glorious day for us, but we never stop moving and finding ways to the best we can. Now that the company has been in the industry for 22 years, all the pains, struggles and effort we had are all worth it. Below are some of our achievements:
- Our dream retirement home of 600 square meters area was built at the start of pandemic in 2020 to continuously support our manpower.
- We chose to live away from the busy streets, no air pollution and heavy dust. The fresh air we enjoy breathing everyday, and caressing our whole body, we feel really so blessed. Living away from the crowd gives us peace of mind as part of the preparation for the retirement days.
- We ride comfortably with our cars.
- Old folks were not forgotten, we were able to extend to them our support.
- Kids were sent to school, now they live on their own independently.
- Owned some real properties.
Though we have achieved this far, we remain still humble and welcoming.
Final Thoughts
It takes a lot of courage to venture into business. Well it is good for Jom that he has technical abilities, good command to people, has willpower and full of guts. While for me at 32 at that time, I had a 14-year experience from the corporate world that I worked for with various positions and responsibilities that honed my knowledge.
Finally, it is never to late to start your own company, whatever age you are now, dare to pursue your dreams.
If you wish to know more about our company, you can view it here https://www.facebook.com/octariesconstruction
I love to hear your thoughts on challenges in managing your company, please post your comment below. Thank you.
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Keep safe!
First, i want to say “Wow”!
What an amazing journey you got there. Continue to be a blessing to others.
Wish you more projects this 2022 Octaries.
Thank you very much Roni. You can visit my website for more blogs, just click here https://sycndecors.com
Perseverance, dedication and hardwork that made this Company successful. Congratulations to both of you
Thank you very much. You can view more blogs on this link https://syncdecors.com
It’s never too late. Success does not depend on age. Success depends on hardwork and commitment. 💯
Indeed, you are right Eam.
Thank you for your comment. You can view more blogs on this link https://syncdecors.com
Inspiring story. Worth emulating!
I appreciate very much your comment. May I ask what challenges you had from your own business or profession?
I read through the write up and I am very impressed with your strong will and character. Congartulations po maam for the success of your company!
Thank you very much Lizette.