Key lessons from Nicko Falcis entrepreneurial journey
Nicko Falcis defies the stereotype of a CEO.
Clad in sneakers and sweatshirt, he has the vibe of Ahn Min-hyuk, the character played by South Korean actor Park Hyung-sik in the TV series Strong Girl Bong-soon.
(This is, of course, if like most PEP readers you’re into things Korean.)
PHOTO: Rommel Llanes. Falcis in his domain; Inset: screen Grab from Strong Girl Bong-soon
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Beneath the casual look, however, lies a head for business honed by experience in entrepreneurship and background in finance, both of which he has in good measure.
When he launched his company, Do Day Dream Philippines, in 2018, he had six people in his team and an office the size of two modest conference rooms.
“It was supposed to be just a boutique project. And from then on, it grew, even amidst pandemic,” Nicko tells PEP.ph (Philippine Entertainment Portal).
PEP.ph gets the chance to interview Nicko and tour his office on December 4, 2023, for our first episode of “PEPtalk with the Boss.”
“So, we also got shocked,” Nicko says about their success. “But there was really such a huge potential, and how we managed to scale it up as fast as we can or as best as we can, was still a very, very big blessing for all of us.”
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Fast forward five years. By 2023, the company that brought in the Thai brand, Snailwhite, to the Philippines now has a 55-person work force and an office at the topmost floor of F’7.
F’7 is a handsome commercial building off Tomas Morato, Quezon City that, not incidentally, Nicko co-owns with his sister Charlene, an engineer.
Their old office the size of two conference rooms now serves as a “speakeasy bar” in the same building, opening its doors at six in the evening.
The growth in number of employees and office size reflects the growth of Nicko’s businesses.
Nicko is happy to report: “Snail White Philippines is five times bigger than Snail White Thailand.”
The reality is, he adds: “In Thailand, the brand’s life cycle is fast.”
At 40, Nicko stands as a country manager with a remarkable achievement.
Here are some of his business tips.
MONEY LESSON 1: INVEST, INVEST, INVEST
The longest period during which his money remained idle in a savings bank was when he was a yuppie in the corporate world.
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He started saving at the age of 22, and five years later withdrew all the money—PHP350,000—to venture into franchising.
Emptying his savings and putting it in a business has become a recurring pursuit.
“If you ask me, ‘Nicko, where did everything go?’ Oh, there are a lot of Potato Corners in Thailand. Oh, I have this kind of business. There are two gas stations.
“There’s this and that. So, I keep putting it back.
“Even when I see extra savings or extra money involved, I put it all back to the business.
“And then now there’s literally so much categories that are ahead of us. So, it’s like, okay, I’m done.
“Which is the best feeling for me because, if I see money or an extra savings, I don’t want it.
“It has to go back to business.”
MONEY LESSON 2: LUXURY, NOT NECESSITY
He looks at designer clothes, cars, travels, and eat-outs as just “perks,” and he is, in his words, “not attached to real assets or the land.”
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A necessity for him no matter how busy he is: Having “more quality time with Mama,” a.k.a. Dr. Carol Falcis.
He says, “My only luxury is massage, spa. Gaming, too, but not the expensive gaming—PS5.”
PHOTO: Rommel Llanes
MONEY LESSON 3: RIGHT ATTITUDE
As a boss who trains his staff to become entrepreneurs more than corporate managers, he has one big advice:
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“Fail fast, win more.”
In other words, the young should see failure as part of the process.
“They have to fail fast because it’s inevitable. You will fail. You will fail.
“But if they fail fast while they’re young, and then when they reach my age, dapat improvement na yun…
“And then from there, whether you fail or you win, that’s something that you will have a lot of learning experience from.
“And you will draw from that and then, hopefully, replicate it over and over again.”
He himself has had his share of failures.
“I tried restaurants. It didn’t work or it got burned.
“We tried also some other distribution of the categories, other than beauty. It didn’t work either.
“I have a strong heart—because I’ve seen everything, I’ve experienced everything.”
Another solid tip from him is to get a Certified Public Accountant.
“It’s a big help. I’m a CPA, a finance person.
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“So, it’s like I’m matrixing the P&L,” he says. P&L is business lingo for Profit and Loss, a financial statement summing up revenues and expenses.
“I get it. It’s very clear to me what moves the P&L. There are no surprises.
“Because if you can really predict it, then you can really run a business as efficient as you can.”
MONEY LESSON 4: correct MINDSET
Nicko is not the type to set timelines and deadlines for himself.
Neither does he believe in a “calculated future.”
“Take it day by day. We’re very, very present.
“Present plus future, but more on the present.
“Like today, let’s just worry about this. If it happens, it happens. If it doesn’t, it doesn’t.”
With the many preoccupations that come with running a business, a boss has to choose his battles well.
“So, I think taking it day by day kind of removes some of the fear for the future or some of the worries that are not yet concrete or are not yet realized.”
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Knowing what to do and loving what you do also certainly add to making the journey less stressful.
He notes: “[You] just have to flow with it and hopefully ride it out.
“And if it becomes a wave, then it’s a blessing.
“And if it becomes very, very tumultuous, you just have to hang on to it.
“Like I said, I was very lucky because it really became a passion. Like work or scaling up the business or exiting the market, competing in e-commerce or going into modern trade. It really became a very, very exciting passion for us.”
PHOTO: Rommel Llanes
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MONEY LESSON 5: HAVING A SECRET SAUCE
When he embarks on a new business venture, he always looks into the “secret sauce,” the key ingredient that helps him win half the battle.
He would ask himself: “What can make you step ahead versus the rest?”
Nicko makes an example of his Potato Corner franchise.
“So, I learned how to get a good location.
“I learned how to have the right internal control because I was part of the head office also.”
He also emphasizes “sourcing,” and mentions “suppliers and good negotiations” as parts of the game to master.
“And of course, lastly, the best secret sauce is people.
“So, when you want to start a business, my first question is: Do you have a staff or admin?
“More than a very high-level manager or more than a very high-level paying employee.
“My first notice is, wait, I don’t have an admin, I don’t have a secretary, I don’t have a super staff.
“Because you’d be surprised, that is the backbone of a Philippine-run business.
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“Having a lot of good people around you!
“And so far, and I’m very proud, nobody left.
“My driver is still with me for 16 years.
“My first secretary has been with me since I was 25 years old. My first staff is still with us until now.”
WHAT IS NEXT FOR NICKO IN 2024?
Nicko is excited talking about his company’s special project, dubbed “Future Glow 2024,” which aims to launch six brands.
“Five years later of doing this business,” the entrepreneur says, “we were able to establish our own unique playbook—the one that combines talent, and even the showbiz playbook, and even, of course, the product formulation playbook.”
Expansion plans are in the offing.
His eyes light up as he mentions plans of establishing an office in Madrid, Spain, and of owning a building in South Korea.
But right now, here’s a peek into his Manila headquarters, where most things are “free-flowing,” plus glimpses of his Gen-Z work force and his management style.
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