Club Treasurer Karlo Castro: What You See Is What You Get

When Treasurer Karlo Castro decided to leave a lucrative career in a multinational company, he didn’t realize that even greater things would open up for him. He joined the family business, and after imbibing the culture, he became hooked and went all out. Treas. Karlo now works as the Chief Operating Officer of their family-owned Palawan Pawnshop – Palawan Express.

Get to know more about this authentic and easy-to-read gentleman as he shares his thoughts on being involved in a family business. He also talks about the best thing that happened to him during the quarantine and shares short-but-sweet tips on how to survive the ‘new norm’.

Rhea Vitto Tabora (RVT): How did the Rotary open a new chapter in your life?

Karlo Castro (KC): Through Rotary, I’ve met and continue to meet brilliant men and women and have conversations with them. I get to learn from some of the best from different industries and I’ve become friends with many of them. More importantly, I would like to think that, we Rotarians, have made some positive impact in our communities.

RVT: What it is about the pawnshop business that most people don’t realize?

KC: The common misconception is that the poorest of the poor are the pawnshop customers. Most of our clientele are in fact small businesses – the sari-sari store owners, the market stall vendors – who need additional capital short-term. Pawnshop interest rates nowadays are very reasonable; as low as 2% or 3% monthly – very affordable for majority of small business owners.

RVT: If you have an extra Php 5,000 to spend on yourself every week, what would you do?

KC: I would have a very boring answer to this one. I’ll probably just save the money until the amount becomes substantial to invest in something. I could also splurge on something I really like when it’s big enough.

RVT: What are the three adjectives that best describe you?

KC: Honest. Persistent. Stubborn.

RVT: What in your life do you feel most grateful about?

KC: Simple. It’s family.

RVT: How does it feel to be involved in a family business?

KC: It is actually great. It’s very different from working for a multinational company, which I did for about six years prior to joining the family business. It took me some time to fully immerse myself into the culture but once I was in, I was all-in! It’s not always easy to do but in Palawan Pawnshop – Palawan Express, we try not to let family dynamics affect business matters. We have professionalized many parts of the business and we have independent Board Directors to help us make important decisions.

RVT: What’s the most important thing that people should know about you?

What you see is what you get. I would not pretend to be someone I’m not.

RVT: If you could have lunch with one celebrity, who would it be?

KC: I don’t really follow celebrities, so I’ll probably go with Bill Gates who has had tremendous success in business and philanthropy, and just listen and pick his brains. I could also just be a fanboy and have lunch with Michael Jordan.

RVT: What tips can you share in surviving the ‘new norm’?

KC: Adapt and adopt. Things will never return to the way they were (pre-COVID), so people and businesses have to transform or slowly become irrelevant.

RVT: What is the best thing that happened to you during the quarantine?

KC: It forced us, the business, to accelerate plans and initiatives. It gave an opportunity for some of our people to truly shine and show what they are made of. The quarantine also gave me the chance to take up some courses for personal growth and development.