The Entrepreneur as problem-solver
RJ Ledesma shares the inspirational story of Joey Espiritu, the problem-solving entrepreneur behind Tent King, and a paragon for every entrepreneur.
A surprising number of entrepreneur origin stories are inspirational “zero to hero” stories. These entrepreneurs are often self-made business people who lifted themselves up by their own bootstraps to achieve phenomenal success. Joey Espiritu is one such inspirational hero of mine, transforming a seven-year-old balloon business into Tent King, a tent rental and sales company that serves the whole country, starting with just P3,000. However, what I find truly remarkable isn’t how he expanded his business into catering, chair rental and even food distribution and a tire company. Instead, it is how Joey approached each business as a problem-solver.
Solving pain points is something that aspiring entrepreneurs are taught to do in business school, but few entrepreneurs embody this spirit like Joey Espiritu. His growing empire of related businesses are all built on solving problems for his clients. And, what’s more, he takes this a step further. His greatest motivation as an entrepreneur is serving his employees.
I spoke with Joey Espiritu, who was recently recognized by the Philippine Marketing Association’s Agora Awards. In my conversation with him, he shares how he turned small-scale ideas into large, multi-faceted businesses. His entrepreneurial journey is defined by adaptability, resilience and a commitment to supporting his employees through challenging times. Here are four key business lessons from Joey that every entrepreneur needs to know.
1. ENTREPRENEURS ARE PROBLEM-SOLVERSJoey’s first major business breakthrough came when a client, a catering company, asked him if he could supply them with tents. Instead of turning down the opportunity, he immediately purchased a tent.
Joey recounts: “My main objective this time is, how can I help this caterer to solve that pain point? So I said, let’s start, I’ll buy one tent. Then from one tent, it became two, three, four, five. Before, we were just in Tagaytay, but right now, we’re in Calabarzon, Metro Manila, Central Luzon, Northern Luzon and the Bicol region.”
This willingness to meet client demands became the foundation of Tent King’s success as the rental business grew to expand across Luzon, with Joey estimating having served 550 events just last December. And today, the company also sells tents across the country, even in the Visayas and Mindanao.
Joey’s example proves that entrepreneurs should be quick to identify and respond to customer needs, even if it requires venturing into new territory. This new territory quickly expanded into establishing new companies to solve his clients’ problems. He established For Rent (chair rental), Manang A (a catering company) and Tire Right (an on-demand tire replacement company initially established to serve his clients’ catering trucks).
2. RESILIENCE DURING CRISESThe growing success of Joey’s companies ground to a halt during the pandemic. And while Tent King received a lifeline selling isolation tents, the business still suffered, and Joey refused to let his employees lose their jobs.
Recognizing the trend of home baking during the pandemic, Joey sought distribution rights for essential products like M.Y. San Graham Crackers. With no FMCG background, he still pursued the opportunity and eventually secured exclusive distribution rights for NutriAsia and Monde Nissin in Southern Luzon.
This pivot proved to be critical in seeing his companies through the pandemic years. In his most desperate hour, Joey learned that in times of crisis, flexibility and resilience are essential. Entrepreneurs should constantly seek new revenue streams that align with current market demands.
3. EMPLOYEE-CENTRIC LEADERSHIPJoey’s unwavering focus on his employees during the pandemic ensured their job security. He believed that while the pandemic would eventually end, the loyalty and trust he built with his team would have lasting benefits.
He says: “I committed myself that if I’ll be able to survive this, I’ll make sure that I’ll be helping more people as long as I can.”
This dedication to his employees has proven to be one of the cornerstones of Joey’s success. Prioritizing the well-being of employees fosters loyalty and strengthens the company’s foundation for long-term growth.
4. SAY YES TO OPPORTUNITYReturning to solving pain points and problem-solving, Joey Espiritu’s business hustle reminds me of the advice shared with me by my business partner, Jose “Jomag” Magsaysay, the co-founder of Potato Corner. He said: “You say yes to opportunity, then you find out how to solve it.”
At the same time, Joey admits that saying yes to opportunity can be a challenge. He shares in Filipino: “I’m a caterer who doesn’t know how to cook, a tent supplier who doesn’t know how to make a tent. I’m a chair supplier, but I don’t know how to make a chair. I started an FMCG company, but I don’t know anything about FMCG. You know what? The way I do it is I will just try it. And then along the way, I’m going to learn it.”
Joey Espiritu’s entrepreneurial journey is a testament to the power of adaptability, customer-centric thinking and unwavering support for employees. His success with Tent King offers valuable insights for entrepreneurs aiming to grow and sustain their businesses, even in the face of unexpected challenges.
RJ Ledesma (www.rjledesma.com) is a Hall of Fame Awardee for Best Male Host at the Aliw Awards, a multi-awarded serial entrepreneur, motivational speaker, and business mentor, podcaster, an Honorary Consul, and editor-in-chief of The Business Manual. Mr. Ledesma can be found on LinkedIn, Facebook and Instagram.
The RJ Ledesma Podcast is available on Facebook, Spotify, Google and Apple Podcasts.
Let Mr. Ledesma know if there are other entrepreneurs you’d want him to interview by sending an e-mail to ledesma.rj@gmail.com.
