1- Hello Mike, can you please tell us a bit about yourself?
My name is Mike Ilagan and I’m a Filipino/Australian Entrepreneur. I’m the managing director of StarCentral Magazine as well as Inlife Magazine (StarCentral Magazine’s extension to the Filipino Australian community) and one of the managing partners of the newly launched Model & Mode magazine (StarCentral Magazine’s extension to the modelling industry).
2- What are your business focus areas and why?
– Monitor the financial performance of our businesses as well as non-financial indicators on a constant basis.
– Invest in things that may give us the best long-term returns.
– Establish a good reward system for our staff.
3- How do you describe “StarCentral Magazine” in few words?
StarCentral Magazine is a publication that informs and promotes local artists, models, actors and entrepreneurs from all over the world.
4- Where do you think you are making an impact?
Local talents and events all over the world
5- What are some things that most people don’t know about your job?
I work 24/7 so it’s not just all glitz and glam, I run 6 businesses and I can’t remember the last time I had a decent sleep.
6- Beauty & Fashion World is the next business hub, Where do you see yourself in the next 5 years?
My personal goal is take StarCentral magazine to a higher level – to the level of Vogue, Instyle or Vanity Fair.
7- What were some of the biggest challenges you encountered while working on “StarCentral Magazine”?
First of all funding and sponsorship – it’s tough to get sponsors on a constant basis and it’s very expensive to run a print magazine. And there’s also manpower – it costs a lot of money to run a number of magazines.
8- What can you tell to young people who are pursuing their dreams to have a business?
When I was starting StarCentral magazine everyone told me that it wouldn’t work out because I had a low paying job so I won’t be able to sustain the publication – well I proved them all wrong and continued to pursue my dream, 10 years later hear we are. Sometimes, you just have to disregard what other people are saying and go with your gut feeling.
9- What are you most excited about at the moment?
The fact that the magazine has been alive for 10 years now and that I also own 2 other magazines.
10- The last Word or final thoughts?
Hope for the best and plan for the worst – make sure you always have a plan “B” in all your future endeavours.