Young businessman reveals rivers of success bridged by enthusiasm _ businessmirror

The Philippines is blooming. Low cost business ideas with high profit Evidence of growth is everywhere. Low investment high profit business in chennai The Internet Age favors the country, by drawing employers to its enormous, young, hardworking, English-speaking and digitally ready labor force. Small business high profit Well-paying jobs are abundant.

High profit small business ideas Disposable income is on the rise. High profit products to sell on ebay New products and services are appearing to support a new emerging middle class.

But with regard to payments technology, the Philippines is still lagging and catching up: cash dominates the market, the credit-card penetration in the country is very low, consumer engagement with retail banking is poor and fees for domestic remittances are very high.

So although many of my friends and family were surprised and astonished, in late-2014 I moved from New York to Manila with the idea to launch a business in the Philippines, for the Philippines.

Our parent company is called Pasig & Hudson, combining the names of the two rivers that anchor Manila and New York City. High profit business We use the rivers as old world analogies for commerce and trade in the digital era.

Pasig & Hudson combines decades of practical experience building world-class systems for major banks and credit-card companies around the world with handpicked entrepreneurs from Manila who bring deep local market knowledge of the Philippines.

Our charter is to bring world-class payment technology, and tried and true business practices to markets that have been chronically underserved by the major multinationals. Low price high profit shares The Philippines is our first market.

In the retail sector of the Philippines, a few megaretailers offer modern, reloadable gift cards. High profit margin products in india Starbucks has an incredibly popular and successful gift-card product that is especially strong with young, aspirational Filipinos.

When my cofounders and I considered the landscape, we knew right away this is a place where we wanted to compete. Low investment high profit business ideas We did not invent the private label gift card. High profit business in india 2012 That is a tried and true business practice that has withstood the test of time in markets around the world.

Most merchants around the world don’t have the resources or payments acumen to launch a gift-card program on their own, because the programs are technically, operationally and fiscally complex. What is a high profit margin It takes special expertise to operate a modern gift card.

Gifmo makes it simple by deploying a world-class gift-card platform and sharing the cost across a large portfolio of clients. Highest profit margin products on ebay We are able to reduce costs to a point where even a small business with a single store can run their own profitable gift-card program.

Gifmo combines our proprietary card-processing software, dedicated back-office operations and business consulting services to help businesses in the Philippines launch their own gift card and digital loyalty programs. Low capital high profit business Gifmo is the invisible infrastructure that powers our clients’ cards.

Gifmo is designed to be the digital marketing engine that powers businesses all across the Philippines. Low risk high profit business We will replace all the paper gift certificates where they still exist in the country. Business ideas with low investment and high profit We will shift consumer marketing in the Philippines away from paper coupons and printed loyalty punch cards, into mobile phones and the Internet.

Years before, Cory Moreira and I had spent time illuminating together on a project in India for Amex, chartered to find an innovative way to bring digital payments to the rural unbanked population there.

The India efforts struggled to build momentum. High profit business opportunities But in the course of the evaluation, Cory and I found that we are very like-minded about technology and innovation.

Cory was formerly the chief technology officer of a start-up that Amex had acquired for about $300 million. Business with high profit The system he built for them became the global processing platform for gift cards at Amex. Today high profit shares By 2015, he had left Amex to return to the start-up community.

Meanwhile, I was in Manila toying with ideas around operating a stored-value, private-label gift-card business. Best business ideas with low investment with high profit We had both left Amex to find new ways to bring innovation to market, without the overhead of a big corporation.

On that phone call last year, I told Cory, “Hey man, want to build a stored-value platform? We’re going to run gift cards in the Philippines.”

I pitched Gifmo to him, premised on a Bring-Your-Own-Device model to reduce setup costs, and to power a carefully crafted user experience over a proprietary closed loop. Low budget high profit business And I stepped him through the four API [application programming interface] services we would need to ship a minimum viable product [MVP].

Thanks to Cory, the bones of our proprietary technology are best in class. High profit products to sell Secure and encrypted, high performing, payment card industry-compliant, built-in failover and digital-optimized, our technology platform was designed from the very start using the high standards of software development that we had at Amex for our baseline.

We laugh about it now but I know Aileen agreed to be our beta partner mostly out of friendship, plus a kind and willing spirit. Low investment high profit business in bangalore At the time when she agreed to be our beta partner, there wasn’t a lot of reason to believe that we were going to be a roaring success. Low investment and high profit business My core team consisted of myself, plus two displaced Americans wandering Manila, discovering things, like ampalaya and calamansi, for the first time, and two Manila locals, a family friend who was eager to participate in a start-up, and a gifted creative designer recommended to me. High profit margin industries A bag of mixed nuts—this was the early core of Pasig & Hudson, our launch team.

I showed up at Aileen’s bistro one afternoon, that day in October, to have a coffee and spend some time with her staff. High profit items to sell The restaurant was full, overflowing with people. High profit shares Over the many months my team had spent at Marmalade Kitchen to launch the beta, I had never seen so many customers there at one time.

The server smiled at me, and rushing to the kitchen to pick up an order, he said over his shoulder, “Sir, the bank gave out the gift cards today.”

I knew that a few days earlier a local business had called Aileen to ask if she would offer them a discount if they purchased thirty of her gift cards. High profit crafts They planned to give the gift cards to attendees at a banking seminar that they were hosting. Low cost high profit business So, connecting the dots, I realized these people were the attendees from the seminar—and, from the looks of it; they brought a number of their friends with them.

Since it was too crowded for me to enjoy my coffee, I went instead into the back office to share a moment of celebration with Aileen. Low cost high profit shares When I found her there, she had an astonished look on her face, startled and dumbfounded, as if the idea had never occurred to her, that the beautiful and appealing gift cards we had launched for her business would change its core economics.

There was a period in late-2015, before Christmas, when gift-card sales at Marmalade Kitchen exceeded their organic sales. Small business with high profit margin in india Like I said, gift cards are not just a pretty gimmick.

Today we operate gift cards for dozens of strong brands in Metro Manila: Wildflour Bakery and Café, Yoga Plus, Shi Lin, Brothers Burger and Kuppa Coffee.

We are constantly adding more services: a client-branded mobile app for consumers, to extend the gift card into Loyalty Services—the app will especially appeal to millennials who live on their phones.

We added third-party distribution agents, to increase offsite sales. Low investment high profit business in kerala We added an affiliate sales distribution network and an e-commerce experience to drive sales.

One of our earliest clients recently asked us to add new cards to their portfolio, with higher initial load values, at the request of their customers.

So far, Gifmo has been growing quickly just through word-of-mouth. High profit agriculture business in india Many of our newest clients are referrals from existing clients, or other friends in the industry who admire our product. Businesses with high profit margins There is nothing more demonstrative of support than when a client actively recommends your service to a friend.

Some of our new clients spotted one of our cards at a favorite restaurant or coffee shop, and called to ask if we can do a card for them, too.

They say it is easy to sell a great product. Low value high profit shares In May, of the in-person meetings we had with prospective clients to discuss Gifmo, 82 percent resulted in a sale. Business with less investment and high profit With that kind of engagement and enthusiasm, we really haven’t had to pursue any elaborate marketing campaigns to promote our business.

New business continues to come to us through organic channels and that’s always the best. Profit margin high or low In Manila, especially, the business community is very tightly knit. Low capital high profit business ideas Nothing here stays a secret for very long.

In our first full year of operation, we have launched 50 custom-designed, premium gift cards on our platform. Retail business with high profit margin For Christmas, our cards will be for sale at over 80 retail locations across Metro Manila and via our online distributor.

Our 2016 strategy was to target the “boutique” business segment—small businesses with strong brand appeal. Low investment high profit business ideas in india We were most interested in businesses with no more than three to five locations, to keep operations simple while we worked on high-quality deployment. Retail products with high profit margins The cards we created for these businesses are beautiful, custom-designed collectables that will appeal to a premium, brand-conscious and aspirational customer base.

First, we are expanding our businesses to support the needs of larger clients that we call “middle market”—companies with 20 to 50 store locations. High profit business with low investment We are adding more professional, operational and technical services to our product offering to meet the special needs for larger clients.

Second, we are expanding our service offering to better penetrate consumers in the mass market demographic. High profit business india In doing so, we will also expand our sales and operations beyond Manila, to Davao, Cebu and other key cities across the country, to establish a truly national footprint.

Eventually, we will also develop an “enterprise” product and compete for business from the major recognized Philippine consumer brands. Low budget high profit business in india Some of the most sophisticated companies already have entire divisions of their organization devoted to operating their digital marketing infrastructure. High profit low cost business We know we can provide those services with a higher level of quality than they get today, at a fraction of the cost.

Starting in 2017, and over the next few years, we will start marketing Gifmo in additional regional markets: Singapore, Hong Kong, Malaysia, Taiwan, Thailand and Indonesia.

Because our core service is technology and operations, it can be virtualized and delivered to additional countries with superior margins. Business with high profit in india Work is already begun to make this achievable.

The company is still less than two years old but already we know we have a winner. Low investment high profit business in hyderabad The skills and expertise of the team are rare in combination, globally and domestically.

Our ability to execute is already proven. High profit items to sell on amazon Our clients are enthusiastic, and the economics of the business are excellent for all parties. Best business ideas with high profit in india Our end-consumers love the cards, and are showing strong adoption.

Since inception, we have raised $1 million in capital from multiple private investors. High profit margin items In 2017 we will raise a new round of funding to capitalize our growth plans, in the range of $3 million to $6 million.

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