The business world relentlessly demands change. It’s a simple truth often distilled into the phrase “adapt or die,” but for entrepreneurs, it’s more than a saying – it’s a daily reality. Those who truly master adaptability don’t just survive; they flourish, constantly innovating and reshaping their ventures to stay ahead.
The ability to pivot isn’t merely a desirable trait; it’s often the defining factor between lasting success and ultimate failure. It’s a conviction strengthened by countless conversations with those who’ve navigated the turbulent waters of entrepreneurship. The most remarkable leaders don’t simply react to change, they anticipate it and build resilience into the very core of their businesses.
Renold Verano, President of Investphil Realty and Development Corp., embodies this spirit of adaptability. His journey, revealed during the National Convention of Filipino Homes, is a testament to the power of reinvention. Today, Investphil is a prominent real estate developer, particularly known for its projects in Palawan, but its current success is built upon a foundation of constant evolution over nearly three decades.
Mr. Verano’s story began, like many, as a real estate broker. He built a brokerage through partnerships, quickly learning the potential of a thriving market. Days of selling 20 or even 50 homes became commonplace, a sign of early success.
But success can be fleeting. A pivotal moment arrived when a key developer partnership ended, leaving Mr. Verano’s company with a fleet of vehicles and looming loan payments, but no inventory to sell. He faced a stark choice: adapt or risk everything.
“That was the lowest moment of my career,” he confessed. Commissions were dwindling, and the future looked uncertain. This crisis sparked a “shift,” as he calls them – a fundamental change in business strategy. He transitioned into construction, starting small with just a few properties, eventually building entire subdivisions.
Looking back, Mr. Verano attributes his adaptability to a relentless pursuit of knowledge. It wasn’t instant expertise; it was a gradual accumulation of skills. “It took me five years to really know how to sell,” he explained. “Then another five to learn how to train and manage people. And then, another five to truly understand development.”
This commitment to learning led him to pursue a Masters of Entrepreneurship, where he underwent another crucial shift. He realized the importance of focusing on core strengths. He decided to streamline operations, shedding businesses that didn’t directly contribute to the company’s survival.
“We focused on where we were really making money,” he said, ultimately choosing to concentrate solely on real estate development under the Investphil banner. This redefined focus breathed new life into the company, solidifying its mission and purpose.
Mr. Verano’s journey offers invaluable lessons for aspiring entrepreneurs. First, prioritize understanding what the market truly desires. Investphil’s success stems from recognizing that most Filipinos prefer homes with ample outdoor space, a detail often overlooked by competitors.
He emphasizes the importance of building a team founded on trust. “You can run fast alone,” he said, “but to run longer, to run further, you need a team.” Collaboration and shared vision are essential for sustained growth.
Perhaps most importantly, Mr. Verano stresses the power of humility. It’s the willingness to learn from others, to acknowledge shortcomings, and to embrace change that fuels true adaptability. It’s this humility that allowed him to pivot when necessary and seek guidance when needed.
“It takes a lot of humility,” he concluded, “constant humility to learn from people who are more experienced than you. That’s actually the most important. Because you will find success and failure. But the way you sustain your growth and your failure, the way you recover, is by being humble to people who supported you.”
