6 minute read
Moving on… Doing Better Christopher Vassallo
Christopher Vassallo Cesareo is an accomplished business leader who has served as Managing Director of Domestica Ltd since 1993. He graduated with a degree in Marketing and Psychology from Boston University. He has been a Council member of The Malta Chamber since 2013 and was appointed Deputy President in April 2021. He is also currently Chairperson of JA Malta.
BY CORYSE BORG
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The global pandemic has shaped and changed all aspects of our lives, including our spending habits. With restrictions being lifted and people getting used to living in the ‘new normal’, there is a positivity in the air which perhaps we did not feel a year or two ago.
But, according to Domestica Managing Director Christopher Vassallo Cesareo, this does not mean that we can rest on our laurels.
“Anyone thinking that we can go back to the way things were before the arrival of COVID-19 into the world, is very mistaken. However, seeing things from a positive perspective, we have discovered how resilient we are. Humankind bounces back from adversity. Far from giving up, we – as business owners and consumers – have found ways to deal with the pandemic and move on, rather than remain stagnant,” he says.
According to many surveys, one thing that has changed is that consumers now place more value on quality. “Now more than ever, quality – of time, product and experience – has become an essential factor in choosing what to purchase,” he states,
“Customers do not want to waste time. Efficiency is expected – even demanded - from businesses if they are to receive repeat custom. Digital has become the norm. Companies who are not online will suffer and are currently suffering. Consumers want to be able to seamlessly move back and forth from the physical to the digital channel of a company. Business owners must realise that it is essential that they invest in the technologies that will make them a part of their consumers’ lives.”
Moreover, he continues, consumers will go for brands and businesses that make their lives easier. They require personalised experiences from companies that they can trust, that actually keep their promises. “With the current relentless inflation being what it is, people are thinking more carefully about how they spend their money. Consumers are shying away from exorbitant costs. Most people now want to consume better, not purchase more. As consumers move on to their own ‘new normal’, businesses must do the same, to form a new future for their organisation. And they can start to do this by understanding what this new kind of consumer wants,” he says.
Mr Vassallo Cesareo is a vociferous champion of young entrepreneurs. As Chairman of JAYE Malta, he wanted to give something back through his background and expertise by helping up-and-coming entrepreneurs.
“It is my belief that you are not born an entrepreneur but made one. The support of youth entrepreneurship programmes is an investment that yields vast returns, not just for the young people themselves, but for the entire community,” he states, “Throughout my career, I have always been involved in helping up-and-coming youngsters. And in turn, I have been impressed by their thoughts, resilience, and innovative solutions. They deserve an opportunity to be heard and put their ideas into practice.”
According to the UN, today, there are 1.8 billion people between the ages of 10 and 24, making this the largest generation of youth throughout history.
“Never before have there been so many young people. This creates the unparalleled possibility for economic and social progress. Young people want to - and already do - contribute to their communities. However, if they are given certain additional skills and opportunities, youths can do even more to improve the lives of people and the wellbeing of the planet. They have the potential to be the catalysts to make the world a better place,” he asserts.
Mr Vassallo Cesareo firmly believes that, although entrepreneurship can be taught, it is also important to have solid values and principles. Core values need to be instilled from a very young age to shape one’s character and values, he stresses. He has some words of wisdom for those youngsters who want to make a mark on the business world: “Making the first step means grasping the opportunities offered to you and making them work to your advantage. Make sure your strategic plans are up-to-scratch. Good connections are essential and approaching the right investors or mentors is imperative. You need to use your relationship-building ability to the max. You need to decide on your priorities and allocate the relevant energy and time to the more important ones.”
Tea or coffee? Coffee Sunrise or sunset? Sunrise Sweet or savoury? Sweet Books or television? Books Working alone or in a team? In a team Summer or winter? Summer Android or iOS? iOS City breaks or country holidays? Country Home cooking or dining out? Home cooking
Moreover, he says, it is also important for youths to get out of their comfort zones and accept that sometimes, for something to work, changes need to be made. “Plan strategically to stay one step ahead of the competition in the midst of turbulent changes in the business environment by seeking and applying the right mix of knowledge and skills. Knowledge of your business, abilities, interests, strengths, weaknesses, and traits is crucial as it will give you an edge over the competition. Finally, you must realise that the acquisition of knowledge and skills of entrepreneurship is a life-long experience. It’s not only just what you learn at school. Life-long learning has become absolutely vital to continued success. You need to continue gaining knowledge and avoid thinking like you are already an expert.” M+S
