During these unprecedented times, all types of businesses are being affected on a massive scale, and conventional business wisdom is continuously being challenged. However, there are still philosophies that ring true and are needed to be applied now more than ever by both small business owners and the most seasoned entrepreneurs. Today, learn how Papa Tasi Property Development and Leasing keeps itself afloat despite the waves of changes in the real estate industry brought about by the COVID-19 pandemic.
Papa Tasi Property Development and Leasing was established in 2018 as a family business with Mr. Steve Stavri as the general manager. The company’s primary business is in leasing apartments and commercial spaces, but also has a focus on developing properties, specifically subdivisions and apartments for sale in the Philippines. Although the business is fairly young, the experience of the people behind it is riddled with expertise. “The challenge of learning the basics in managing the business and operating properly was our first challenge,” Steve revealed. However, the learning curve was overcome through sheer perseverance and hard work. Possessing a master’s degree in business management, Steve knew that it was important to have staff that were knowledgeable in the same field, so he made sure to screen their staff first and gave them the opportunity to take seminars in operations management afterwards. “The first year was a learning curve,” he admitted, “but we were able to come out of it well because we never got tired of learning.”
In terms of current challenges, businesses of all sizes are all facing a similar hurdle because of the pandemic, and the real estate industry is no exception to this. Papa Tasi has partner establishments that are currently non-operational due to the COVID-19 pandemic, which affects the business. Steve disclosed, “Many of our partner buildings are located in schools, which are closed down as of the moment, so that’s a big challenge. We have collections overdue, and we’re still going through that challenge right now.” Still, Steve expressed that they are still luckier than most businesses as they are dealing with real estate, an industry that will always have a demand in the Philippines.
Steve acknowledged the different challenges that rise for businesses as everyone is currently living through unprecedented times. Although he hopes that the pandemic will be kept in control soon and that things will go back to normal by the following year, he stressed the importance of business owners being able to adapt to any situations that they may face in the future.
“Learn and adapt,” he said, when asked about the tips he can give to entrepreneurs who are currently experiencing setbacks due to the pandemic. “Do research. Youtube is free, you can always watch business-related shows or take online courses. Learn from people, because there’s always something to learn.” Steve strongly recommends Kevin O'Leary and CNBC Business International’s YouTube channels as helpful avenues for learning for people who are running businesses. He continued to set an example by advising professionals to observe how other businesses succeed or fail. “For example, if you’re in retail, you can learn about how Amazon made it into the market, or how Costco survived the rise of Amazon while other businesses failed. There is always a way to adapt, that’s why I primarily focus on early adaptation.”
Indeed, seeking constant growth and the willingness to keep learning new things has done wonders for Papa Tasi Development and Leasing itself. Steve shared that he himself has applied the same mindset over the years of managing the family business. One vital move for adaptation that they took was learning how to use online software for everything, may it be for accounting or payment collections, because of the benefits it would bring to their business. Payment collection can be done anytime and anywhere, which reduces delinquent payments and makes settlement transactions much faster. “If you learn how to adapt, you won’t have any other issue that you won’t be able to overcome.”
Steve took the time to carefully search for an online payment gateway system best fit for Papa Tasi Property Development and Leasing as they have clients from different parts of the country and even from abroad, making the availability of digital payments a vital asset to have for the company. “I was actually shopping around and looking at other online payment service competitors, and I found that JazzyPay was the most convenient for payment collections,” he added, “With JazzyPay, collection of payments is easier. Our clients can just log into the website, search for our business, and go from there.” He also noted the importance of supporting local businesses, as well as the long-term effect of supporting and partnering up with a local online payment gateway provider. “It’s a local company, which means that its services will overall help the country develop in terms of digital payments.”
Looking for properties to lease? Visit Papa Tasi Property Development and Leasing’s website at https://stavrigroup.tenantcloud.com/. You may also check out their Facebook page at @StavriHomesOfficial.