How a college thesis became a successful business venture

FILED has already set eyes on penetrating school bookstores and conquering the Asian market. Unknown to many, the organization solutions company, known for its folders, started as a college thesis.   “As 3rd year Management majors at Ateneo de Manila University (way back in 2007), we were required to start up a business,” Stephanie Lim, one of the founders of FILED, recalled.   “While most of our batch mates opted to work with concepts related to the food industry, we decided to veer away from all that. We wanted to create something more tangible and relevant to us as students, and we brainstormed our way to the File Folders,” she added.   The thesis project was a collaboration of six business students. It received a grade of "A", or an equivalent of 96 to 99 percent.   “We targeted students at that time, specifically Ateneans. Having students as our market while being students ourselves made the target audience massive for us,” Lim explained.   She said, FILED ended up being one of the most profitable start-up businesses that school year.

P60,000 starting capital   The initial capital of the group was only sixty thousand pesos. At that time, only one product was sold to the market: File Folders.   File Folder innovated the concept of organization by integrating ziplocks, envelopes, pockets, key holders, card slots, ID pockets, mesh pencil case into one product.   Today, Filed has 7 products available in the market: Flip Folder, File Folder, Filler Organizer Pack, Filler Notes, Googly Gooeys Folder, Canvas Folder, and Doodle Planner.   As to the underlying concept, Lim said, the group aimed at targeting a problem they themselves confronted.   “We wanted something relevant, functional, and stylish, that we ourselves as students could use. We wanted to tell the market that there's a way of being organized and stylish at the same time,” she said.   "Getblued, Binky Burrow, and Googly Gooeys offer fresh, non-mainstream, creative artwork designs that perfectly complement FILED's structural and functional design of its products," she added. "Since we always want to offer something new that will excite our customers, we decided to offer limited designer folders."   Despite the success, however, it was only in 2010 that FILED became a full-time business.   “After graduating from college, we actually continued the business but it remained merely as a sideline. We consigned our products in retail outlets and joined some bazaars, but none of us were really focused on the business,” Lim recalled.   “However, as time passed, we noticed the huge potential that FILED had, given the market's demand and the profitability despite not being run full-time,” she added.   Undivided attention   After this realization they quit their day jobs and concentrated on the business. Of the thesis group’s original six, three remain in the business: Lim, Ervin Jader, and Imman Santos.   But the branding, Lim said, has survived administrative changes.   “We haven't changed our branding over the years--on the contrary our branding has helped in guiding us in our business decisions,” Lim said. “FILED has always prided itself in being the premier organization solutions company for today's urbanized youth,” she added.   While admitting that Filed has still a long way to go, Lim said, they’re very proud of where they are now. “We've grown and expanded in ways we did not think was possible a few years ago,” she added.    To young entrepreneurs who may be contemplating blazing the trail they have passed, Lim said, “A great idea is only as good as its execution. If you have a business idea, take that first step to action and implement your idea, as one can never know if it's good or not until it materializes.” — ELR, GMA News