Let’s face it: being an entrepreneur is demanding. These days, entrepreneurs need to be agile — quick to spot opportunities and just as quick to pivot their business model. Today’s technology provides another challenge for entrepreneurs, with new tools, new markets, and new consumer behaviors that must be mastered. At the same time, it can be game-changing if these entrepreneurs can adopt emerging technologies to cut costs, enable customers, or give their business a competitive advantage. Anna Magkawas, the founder of the Luxe Beauty and Wellness Group, is an entrepreneur who excels at all of these qualities I mentioned. As a businesswoman, she is a virtuoso of entrepreneurship, whom we can all learn so much from.
As an early adopter of live selling, Anna Magkawas first entered into entrepreneurship with Luxe Online PH. From selling luxury bags, she moved on to business after business, first entering the beauty category then evolving towards the wellness category. Her brands under the Luxe Beauty and Wellness Group include Luxe Slim, Luxe Skin, Luxe Cosmetics, and Luxe Kids, with its products sold around the Philippines and a growing list of countries around the world.
I recently spoke to Ms. Magkawas in my podcast about how she orchestrated her phenomenal success. In the full interview she traces her entrepreneurial history from her days as a medrep to her current and future plans, which include entering the pharmaceutical industry, establishing a wellness resort, and opening a manufacturing plant for Luxe products and other brands. Here are some of the highlights.
THE VALUE OF TRUSTAccording to Steve Sy of Great Deals fame, a rising trend today is the CEO as the personality behind the brand. Ms. Magkawas is one of the pioneers of this trend, which she honed to perfection with her first business, Luxe Online PH, where she sold pre-loved luxury bags.
Working as a medrep at the time, she began the business from humble beginnings. She recalls, “I was jealous of my co-medreps, that their bags are beautiful… So, I tried to order one just for myself [online]. What happened? I sold it. So, umiral na naman ’yung pagiging utak-entrepreneur ko. [My entrepreneurial mindset took over.] And then after, I bought three more.
“Then, I sold the other two. Until the orders increased. Then, I posted it online. That’s when it started.”
Taking advantage of another rising trend at the time, online selling, she took her business online. Soon, she was live selling to thousands of faithful customers. Why was this so important?
Ms. Magkawas explains, “First, they need to trust me. Who am I for them to deposit such a big amount for a bag? You know, it’s hard to trust a person, especially if you can’t see them.”
This trust would become a hallmark of her future business ventures. “I started posting online,” she continued. “I showed myself, my face, the address of our house, so that they can go [to the showroom]. So that they can trust me.”
IMPORTANCE OF ENTREPRENEURIAL AGILITYEntrepreneurial success didn’t come easy for Ms. Magkawas. When the pandemic struck, she was forced to pivot her business and sell antibacterial wipes. And from there, another opportunity arose — and another pivot. With her success at selling products online, manufacturers of beauty products approached her. Grabbing that opportunity, she established Luxe Skin, and soon afterwards, Luxe Slim.
Today, the Luxe Beauty and Wellness Group also sells cosmetics, and its breadth is so wide that it is sold all over the country through its distributors and even other countries around the world. Recently, the Luxe Group built a manufacturing plant to produce its own brands, as well as brands of its clients.
Talking about this new side of the business, Ms. Magkawas said, “We can help you from branding, packaging, including [everything] all-in. You’re the only one that’s missing.
“And for the marketing side, I can guide them on what they can start doing, if they’re confused or lost. Because at least, I somehow managed to go through this. Somehow, I’ll be able to share something, I’ll be able to offer something to you.”
With so many brands and so many businesses growing from her core line, how does Ms. Magkawas choose what businesses to venture into? And how does she manage her time?
She said, “Sa totoo lang, gini-gauge ko rin ’yung sarili ko, kung kaya ko pa ba. Kasi may time kasi na talagang… ang daming pumapasok na ideas na ang sarap isakatuparan. Pero kapag andiyan na, biglang mapapaisip ka na, ano ba ang una kong gagawin… Sinong gagagawa nito? Kasi hindi mo pwedeng akuin lahat.” (To be honest, I try to gauge if I can still do it. Because there are times… there are so many ideas that would be so rewarding to make a reality. But when it’s there, you suddenly think, what do I do first… who’s going to do this? Because you can’t take on everything.)
For Ms. Magkawas, part of being agile as an entrepreneur is delegation. But, she adds, the people you delegate to must be trustworthy.
“Who is the trusted person?” she asks. “Because that’s important. The person you’re going to give that opportunity to is someone that you can really trust. Because that will be the foundation. Your trust in each other.”
ENTREPRENEURIAL ENABLERAs parting advice, Ms. Magkawas returned to the importance of trust. As one who is a master at building trust between brands and consumers, she emphasized that analysis is an important part of building trust as an entrepreneur.
She said, “The first things I always advise: don’t trust too much. Because there are a lot of people around you who will take advantage of you. If what they’re telling you is a bit too flowery, pause for a while. Analyze it first.”
Today, Ms. Magkawas is an entrepreneur who helps other entrepreneurs. This is as much an integral part of her business to rely on entrepreneurial distributors as it is a genuine expression of her desire to enable other entrepreneurs who are like her.
“I want to duplicate myself,” she says about finding trusted partners in business. “But I also want to duplicate myself to other people, who are also like me.”
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. Are there entrepreneurs you want Mr. Ledesma to interview? Let him know at ledesma.rj@gmail.com.
