Welcome back to another episode of Masked Monologues! Today, I’m excited to have Peter Banigo with us. Peter is here to share his remarkable journey as a tech entrepreneur and how he leverages technology to empower businesses.
The Beginning: A Passion for Technology
Peter starts by introducing himself: "My name is Peter Banigo. I am a tech entrepreneur. I run a business that helps other businesses optimize their operations through technology. I also host a podcast that helps businesses learn and do more with technology."
Peter’s passion for technology began in 2006 when his mother bought him his first laptop. As a curious and DIY-minded individual, he quickly dove into understanding how the laptop worked. By 2010, he started his first business—a web hosting service. Contrary to common expectations that the first business venture often fails, Peter's web hosting business was a success, boosting his confidence and fueling his entrepreneurial spirit.
The Power of Technology in Business
From 2010 onwards, Peter started multiple businesses, including a food venture. Despite not knowing how to cook, his understanding of technology gave him an edge. "The one advantage I had was knowing how to use technology to gain an unfair advantage," he explains. Peter utilized SEO and other tech tools to outperform competitors who weren’t leveraging these resources.
Launching Target ICT
By 2018, Peter realized the consistent factor in his success was his tech-savviness. This led him to launch Target ICT, a company dedicated to helping businesses optimize their operations through technology. “I saw that I could actually charge people for answering the tech-related questions they were constantly asking me,” he says.
Understanding Web Hosting
Peter’s journey began with a web hosting business. He explains, "To have a website online, you need three components: a designed website, a domain name, and hosting space." His company provided the domain names and hosting space necessary for websites to function.
Learning Tech: The Hands-On Approach
Peter emphasizes learning by doing. While courses can provide theoretical knowledge, practical experience with real problems leads to deeper understanding. "When you learn by doing, you're able to retain what you learned better and solve problems more effectively," he says.
Shifting from B2C to B2B
Transitioning from business-to-consumer (B2C) to business-to-business (B2B) presented new challenges. In the B2B space, decisions take longer, and purchase sizes are larger. Peter joined Toastmasters to improve his communication skills, which helped him navigate sales conversations and client interactions.
Client Success Story: Transforming a Textile Manufacturer
One notable project was for a textile manufacturer with operations in three countries. The company struggled with outdated paper and Excel-based systems, causing delays in information sharing. Peter's solution was an enterprise resource planning (ERP) platform that integrated accounting, CRM, inventory, and HR functions into one interface. This allowed real-time updates accessible from anywhere, drastically improving the company's efficiency.
The Process of Building Tech Solutions
Peter breaks down the process of creating tech solutions:
Understand the Problem: Spend time with the client to understand their processes and pain points.
Design the Solution: Create process maps and wireframes to outline the solution.
Database Design: Plan how information will be stored and accessed.
Coding: Finally, translate the solution into code.
Peter emphasizes that most of the work happens before coding begins, with coding being the last step.
Managing Projects and Teams
As the owner, Peter focuses on quality control and project management. He uses tools like checklists and project management software to ensure everyone is on track. Regular meetings help monitor progress and address any issues promptly.
Lessons Learned: The Importance of Systems and Focus
Peter shares two key lessons from his entrepreneurial journey:
Systems and Processes: Having documented processes for every aspect of the business ensures consistency and efficiency.
Focus: Trying to manage multiple unrelated businesses spread him too thin. Focusing on one business has allowed him to achieve better results, maintain a healthier lifestyle, and have more leisure time.
Connect with Peter Banigo
To connect with Peter Banigo, visit his LinkedIn profile or listen to his podcast, "Tech Your Business," at techyourbusin
If you enjoyed this episode, please support the podcast by leaving a review or sharing it with friends and family. See you next time on Masked Monologues!
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