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DTI intensifies awareness campaign on benefits of FTAs

Roy — Wed, 30 Mar 2011 04:24:19 +0000

The Department of Trade and Industry said that many among our exporters are not really aware of the trade opportunities under the country’s free trade agreements (FTA). That is why it is intensifying its information awareness campaign focusing on the government’s priority exports.

Gregory L. Domingo, DTI Secretary, said that the basic information awareness campaigns from March to November this year will focus on sectors such as motor vehicle parts and vehicles, food, garments and textiles, minerals, coconut products, construction and related materials, wearable, home style and IT/BPO. “More targeted information sessions will enlighten our businessmen to engage or expand their business according to what is viable in our FTA markets,” he said.

The trade secretary stressed that by understanding emerging and new markets, as well as instruments such as the FTA, will help exporters address new challenges in the global business environment. For 2010, the Philippines achieved a record of over $51 billion in export revenues.

At present, the country has FTAs with ASEA, China, Japan, Korea, Australia and New Zealand. An FTA with India is already in the work and due for implementation on the last part of the year. On March 31, a second round of information sessions targeting specific sectors will be launched at the Philippine Trade Training Center (PTTC).

Domingo said export companies have not yet fully utilized the FTAs “because businessmen are not properly informed of the business opportunities that the country has gained from our FTA.” Last year, the agency was able to conduct information campaigns in 11 cities, benefitting some 2,000 businessmen.

International Trade Undersecretary Adrian S. Cristobal Jr. said, “Exploring the FTA markets is one of our core strategies to increase our exports over the next six years and sustain its steady growth. He said that this year’s sectoral sessions will include presentations on market opportunities, including non-tariff measures, in the country’s FTA markets; tariff rates on top exports for each sector under the FTAs, rules of origin, open forum, as well as business testimonials from those who have benefitted from FTAs.

“The FTAs are strategic tools or pathways for growth and competitiveness. Not only do these open markets for our goods and services, but they also compel us, as a people to take a hard look at our economic structures and implement the much needed reforms to put our economy in step with the global environment,” he added.

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Why time deposit is still a viable investment option

Roy — Mon, 28 Feb 2011 14:44:59 +0000

Jesus Vicente-Garcia, executive vice-president and branch banking head of Philippine Veterans Bank, believes that time deposit remains to be one of the simplest, safest and most rewarding investments . Despite the many investment options available in banks, Garcia explained that a time deposit is a sound option to grow one’s investment because it enjoys higher interest rates.

Compared to a regular savings account, a time deposit is assured of a maximized return. Garcia illustrated a P500,000 investments on Veterans Bank’s Maxi-Return Time Deposit as an example. In their time deposit, a monthly compounding interest rate of six percent will net for the depositor an interest amount of about P174,000 at the end of five years. The actual interest amount will depend on the date the time deposit was opened.

The bank EVP was quick to add that the interest rate isn’t the only reason why a time deposit is a viable option. He said, “Aside from the high interest rate that you’ll get on your time deposit, it’s also a safe way to grow your money. Your investment is intact from the start as a time deposit is not driven by market factors like investment in stocks, or in mutual funds, or UITFs (unit investment trust fund).”

Garcia also added that time deposits are covered by the Philippine Deposit Insurance Corp. (PDIC) guarantee. Being a traditional bank product, they guaranteed up to P500,000 per depositor. UITFs are not covered by PDIC guarantee.

Short term time deposits are advisable for entrepreneurs who would like to get higher interest rates than a regular savings account, yet allow them flexibility to have the funds available should they need them in their business. A long term time deposit, on the other hand, is best for those who can afford to have money tied up for a long time, and without immediate need. Longer terms obviously would higher interest rates.

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Starting a franchise

arbe — Fri, 01 Oct 2010 11:51:56 +0000

Every Entrepreneur wants their business to grow and have profit. They always have new ideas in their mind to fuel their business but what if you don’t have that kind of many ideas in your mind and still you want to have your own business. Well there is a answer to your problem. Nowadays there are many business opportunities like franchising.

A franchise is like a package that you can buy if you want to start a business but you don’t know what to do. And in this package it is full of many usable ideas that you can use and learn on. Most in this ideas are tried and tested from other franchiser that have their own experience so you can be confident if you invest with them.

And if you enter a franchise it is not like you buy their product then you do the other things on your own. If you enter a franchise the franchisor will support you not only in the improvement of the product but also in the idea of financial supporting.

And also you will learn how to play the market especially in the community where you are in. You can also apply your own idea so that you can improve your own store.

The ideal franchise opportunities are food oriented business, service oriented business and also the combination of the two ideas.

Whether what ideas it may be a successful franchise is still considered in the determination of person who wants to enter it.

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Most common tips when you are starting a shop

arbe — Thu, 30 Sep 2010 16:16:11 +0000

The most common and helpful tips that can be used if you are starting a shop, tips are listed bellow.

Location- location is one of the most important if you are starting a business because it can decide whether your business can get a customer especially in a crowded place. And if you are not in a not so crowded place you can start to advertise your shop or product so that the people may know your location.

Stable Plans- you need to have a stable plans for the future of your business. For example you need to add always a newer version of your product so that the customers will have the curiosity so that they will likely to try the new ones.

Customers- always keep in touch to your customers you also need to know what they are expecting in your product or shop and what are they want for your shop or product to be improve. In this way the customers will have a bond with you and can be a regular visitor to your shop.

Interior decoration and product quality- also one of the important thing in the business especially if you are having a shop. The decoration is important because most of the customers are going to shops not only to eat and drink but also to relax so you need to have your decoration to be more relaxing so that the customers will surely like it. Product quality is also important you need to show to your customers that their moneys will be worth-it if they will go to your shop.

These are the tips you can use if you want to start a shop.

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Woman Entrepreneur for 2009 – Corazon Dayro Ong

Roy — Sun, 08 Nov 2009 04:07:44 +0000

Corazon Dayro Ong was awarded the recognition as this year’s Woman Entrepreneur of the Year. She was known to be the brain behind the highly successful and innovative food product, San Marino Corned Tuna. The honor was awarded to Ong during the recently concluded Entrepreneur of the Year 2009 awarding ceremonies which was held at the Makati Shangri La Hotel on October 15.

In an interview during the event, Ong expressed her gratitude for the Filipino consumers for their high level of acceptance for her latest innovation.

Mrs. Ong is the founder and vice chairman of food manufacturing firm CDO-Foodsphere inc. She was awarded Woman Entrepreneur for 2009 by Ernst and Young for her exemplary skills in entrepreneurship, leadership and community development, traits that make her a trailblazer in the Philippine business.

She is nutritionist and dietician by profession. She started a small meat processing venture 34 years ago, and through her excellence as a woman entrepreneur, she steered the small business venture until it becomes one of the pillars of the food manufacturing sector in the country today.

“The key to the overall success of the company is the passion for continuous product innovation,” says Mrs. Ong.

The CDO-Foodsphere was able to earn the trust and confidence of the Filipino consumer through its consistent product innovation. It also employs strategic distribution and a well-synchronized advertising promotion to push its cost-competitive products.

Under Ong’s efficient leadership, the company has developed into a modern and leading food company known for its product innovation that provides the best quality and affordable food products, earning the trust of the Filipino people.

Her latest product, the San Marino Corned Tuna which was launched last July 30, 2009, manifests Mrs. Ong’s latest innovation in the food industry.

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Google offers stimulus package to RP businesses

Roy — Thu, 05 Nov 2009 06:18:17 +0000

Internet giant Google has come to the aid of Philippine business as it offers business stimulus package to local businesses. Google, together with STI Colleges has offered to build free websites for 200 micro, small and medium-sized enterprises (MSMEs). Aside from that, they will also be given P2,000 worth of free credits on Google AdWords.

This one-time offer, said Derek Callow, head of marketing for Google Southeast Asia, is meant to give local business a push and boost their online presence as they help them harness the power of the Web to grow their enterprise.

Callow said, “Any Philippine company that has a product to sell and a valid business permit can apply for the package.” The first 200 businesses who will sign up at the www.google.com.ph/stimulus until December 15, 2009 will have their company websites developed by STI College for free.

Subsequent participants, Callow added, will only have to pay a one-time free of P3,000 to STI College for the website development work.

There will be no hosting charges to the companies because the websites will be hosted on Blogger.com, which is owned by Google. The business stimulus package, Callow said, is “unique to this region.” It will enable local businesses to harness the cost-effectiveness and reach of the Internet to access a wider market and increase sales.

This project is being undertaken by Google in partnership with the Commission on Information and Communications Technology (CICT), Go Negosyo and STI Colleges.

“We had to take a step back and show businesses how to build a website first. It’s the first step in communicating with your buyers in a cost-effective way and promoting your products on the Web,” Callow said.

CICT Cyberservices group head Monchito Ibrahim said the government fully supports the project, which aims to develop an ICT-enabled economy.

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SB Corp. reports lending to SMEs reached P170 billion

Roy — Mon, 12 Oct 2009 12:52:35 +0000

Small Business Corp. (SB Corp.), the lead convenor for small and medium enterprises (SME) Unified Lending Opportunities for National Growth (Sulong), said that the lending to micro, small and medium enterprises (MSMEs) has reached P170.3 billion in the past five years through the various government agencies. The group said that they alone have extended total loans of P16.2 billion during the same period.

According to the SB Corp. report, as of June 2009, the lending program has benefitted 49,263 MSMEs, supporting about 2.5 million jobs.

SB Corp. President and Sulong finance committee chairman Benel P. Laguna, said, â€œThere are other government and private agencies and stakeholders called participating financial institutions or PFIs, as they expand the outreach of the program since their presence in the rural areas makes it easier of SMEs to access Sulong funds.â€

The Land Bank of the Philippines (LBP) has extended a total of P93 billion, while the Development Bank of the Philippines (DBP) has P54.7 billion in loans. Both were loan figures since 2004.

Other channels, like the Quedan Rural Credit and Guarantee Corp. (Quedancor), have released P3.3 billion; the Philippine Export and Import Credit Agency (PhilExim) accounted for P1.5 billion; the Social Security System (SSS) released P1.2 billion; and the National Livelihood Support Fund (NLSF) have loaned out P294.5 million in retail and wholesale loans to SMEs.

For its part, SB Corp. has various lending programs which were designed for specific sector, like the Rural Micro-Enterprise Promotion Program (RuMEPP) which is a seven-year rural microfinance program lending program for the countryâ€™s 19 poorest provinces with funding from the International Fund for Agricultural Development (IFAD).

By providing credit delivery matched with business development services, RuMEPP complements the governmentâ€™s program for poverty alleviation.

The MSME Retail Lending program of SB Corp. on the other hand, has surpassed the half-billion peso mark. Its wholesale lending program is nearly reaching the P3-billion mark. It has more than a hundred PFIs, fifty percent of which are rural banks.

SB Corp. is also negotiating for partnership with official development assistance (ODA) agencies such as the Asian Development Bank (ADB), InWent, and KfW and GTZ, which are German development-oriented financial institutions.

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“Green” livelihood seminars

Roy — Mon, 12 Oct 2009 01:40:40 +0000

The social arm of the Cravings Group of Companies, the Culinary Education Foundation (CEF), is taking a â€œgreenerâ€ step by promoting a zero-waste lifestyle that can also help boost income and provide livelihood opportunities to people, especially in these trying times. The CEF is currently conducting livelihood seminars that offer tips on recycling programs that promote unique and modern ways of starting a business that is using a â€œgreenerâ€ approach.

Their training programs started last August at the Kaingin Ecology Center in Barangay Pansol, Kaingin 1. It runs every Saturday of the month, from 9 a.m. to 12 noon, until October 2009. All courses are scheduled at weekly intervals.

The foundation offers coursed like Handmade Paper Making where they teach participants how to creatively and eco-consciously recycle paper in a three-hour hands-on workshop. The Soap and Detergent Production offers viable business venture to every homemaker and aspiring entrepreneurs.

It also has Organic Vegetable and Herb Gardening where participants are given a crash course on how to start their own organic vegetable and herb garden. Organic Vinegar Production, on the other hand, teaches them to learn and realize the economic and health benefits of organic vinegar, with guaranteed recovery at about 95% and ROI of at least 50%.

Earthworm, also known as â€œearth angels,â€ considered to be the greatest organic farmer on earth, takes center stage on the seminar on Vermiculture.

There are also special seminars which are available by arrangement, and minimum of 15 participants is required for these courses. These include the Green Chefmanship, where the basic skills of greening the kitchen and reducing the chefâ€™s carbon footprint are shared with the participants.

For details of the seminars and other information, interested parties my contact the CEF and look for Iris Capitulo. CEF is located at Cravings Center, mezzanine floor, 287 Katipunan Ave., Loyola Heights, Quezon City. Telephone number 928-8167 loc 203, mobile number 09222879791 or e-mail at cefmanila@yahoo.com.ph and cef@cca-manila.com

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Trade exhibit for pint and labels

Roy — Tue, 06 Oct 2009 03:57:49 +0000

The Philippine Center for Print Excellence Inc. (PCPE), together with the Philippine Printing Technical Foundation Inc. (PPTF) and Global-Link MP Events Intâ€™l Inc. will be holding the for the 6th year a print and label expo.

It will be the Print & Label Philippines 2009, the 6th International Printing & Label Machinery, Paper & Paper Products, Graphic Communications, Digital Imaging, Pre-Press Solutions, Accessories and Services Exhibition, which will be held on October 7 to 10 at the SMX Convention Center. The show will be open to trade buyers from 2 p.m. to 7 p.m. on October 7, 10:30 a.m. to 7 p.m. on October 8 and 9, and 10:30 a.m. to 5 p.m. on October 10.

The said exhibit has achieved record-breaking results last year, these include 17,176 registered buyers in four days. It attracted over 450 exhibiting companies that occupied 560 booths (9,100 sq. meters of exhibition space), coming from 26 countries and a reported on-site sales worth over $30 million. This year, the organizers expect at least to duplicate, if not exceed that feat.

Jing Lagandaon, COO of Global-Link MP, the organizer of the event, said to would-be participants, â€œAside from the members of PCPE and PPTF, as an exhibitor, you will also meet the members of our supporting organizations that include the Association of Paper Traders of the Philippines Inc., First Association of Self Adhesive Labels Industry of the Philippines, Packaging Institute of the Philippines, Philippine Plastics Industries Association Inc., Printing Industry Association of Davao, Screenprinting, Imaging, Design & Graphic Association of the Philippines and the Technological University of the Philippines. Exhibitors and service providers are guaranteed maximum exposure at Print & Label Philippines 2009.â€

For more information, contact Liza Mara of Global-Link MP at Tel: 750-8588 Fax 750-8585, email: liza.mara@-globallinkmp.com website: www.globallinkph.com www.globallinkmp.com

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Adopt a school, earn tax credits, BPO urged

Roy — Thu, 01 Oct 2009 00:07:39 +0000

The business process outsourcing (BPO) service providers in the Philippines are urged by the chairman of the House committee on information communications technology to donate computers under the Adopt-a-School Program and avail themselves of gainful tax benefits in return.

This was revealed by Catanduanes Rep. Joseph Santiago, who said that under the Adopt-a-School program, BPO providers as well as other private firms that extend financial aid to â€œadoptedâ€ public schools are entitled to claim a taxable income deduction equal to 150 percent of their contribution.

Santiago even illustrated an example, when a private entity donated brand new computers worth P500,000, it may claim a P750,000-deduction from its taxable gross income.

The program was established through Republic Act 8525, in order to encourage private entities to help the government address the public school systemâ€™s severe resource shortages.

Aside from computers and other modern instructional technologies, Santiago said other qualified contributions may also be in the form of support for the development of the faculty, construction and upgrading of school facilities, and the provision of textbooks and other teaching materials.

In claiming for deductions, the contributions, aside from cash, would be valued based on the acquisition cost or purchase price of the property, equipment, materials, and services supplied. But for used properties such as donations of second-hand computers, their valuations would be subject to depreciation.

Santiago further added that members of the Business Processing Association of the Philippines and the Contact Center Association of the Philippines â€œshould contribute in big way to the advancement of computer literacy and school connectivity.â€ He also pointed out, â€œhighly computer-literate and Internet-savvy young people are needed to enable the future human resources required by BPO providers.â€

Meanwhile, a total of P1.1 billion has been allotted to provide Internet connectivity to 9,048 public elementary and high schools all over the country, according to Santiago.

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Consider poultry contract breeding as a sound investment

Roy — Wed, 16 Sep 2009 01:06:54 +0000

One sound investment that entrepreneurs might want to look into these days is joining the San Miguel Food Inc.â€™s (SMFI) roster of Poultry Contract Breeders and Growers. Being in the company of an elite team delivering the Magnolia Fresh Chicken to Filipinos is definitely a good option.

Take Ofel Datorâ€™s word for it. Dator, owner of the Ofelâ€™s Poultry Farm and a contract grower for SMFI said, â€œIâ€™d definitely encourage any would-be investor to strongly consider becoming an SMFI Poultry breeder. It has turned out to be a very good venture for us.

Ofel began his business in 2005 with minimal capital outlay, together with her husband Serafin Dator. Four years later, Ofelâ€™s Poultry Farm is doing great business earning well over P2.5 million a year. They were recently adjudged Luzonâ€™s Top Contract Breeder for SMFI.

One of the main reasons why the couple chooses to be an SMFI poultry breeder is that it carries the brand Magnolia Fresh Chicken and therefore believed that it is a sure-fire investment. They also believe that in spite of the condition of the economy, food businesses will continue to stand firm. They are confident that there will be no end to the need for chicken meat products, and therefore, no end to the need for their products.

Another reason the couple choose to be an entrepreneur is that they see it as one way of helping their community by providing jobs. Their workers were mostly their neighbors and friends. Ofel said, â€œThese are the people who care for the farm. May malasakit because they are our friends, and because they see how much we care for them as well since we treat them as family members already.â€

Ofel also assured that being a contract breeder for SMFI is a sound investment because the company will take good care you â€“ from the layers to the feeds, to the purchasing of your products and the ready assistance given by their Broiler Production Representatives and their Breeder Technicians. â€œSMFI really takes care of their breeders and growers,â€ she said.

If you are looking for a sound investment for your hard-earned money, check out www.magnoliachicken.com and see the opportunities waiting for you as SMFIâ€™s contract breeder and grower.

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Successful entrepreneur at 24

Roy — Thu, 10 Sep 2009 22:34:39 +0000

Anybody can be an entrepreneur if only he puts his mind into it. No matter what age he may be in, if he believes he can, he will succeed. Alvin Kingston Tan, at age 24, has proven that age is not a factor when it comes to running a business.

Alvin, who has no formal education in information technology, has started his own IT-based company, Technominds, along with other professionals, upon his graduation from college back in March 2004.

He now runs the company as the president and chief executive officer. Technominds is a provider of SMS solutions, database management and web applications. They specialize in mobile technology-based solutions and computer applications.

His lack of educational background on IT notwithstanding, Alvin went on to set up Technominds because he believes that â€œthere is huge room for innovation in an IT-related business, and itâ€™s easier to get into as compared to starting a business in other industries. Technology business is also a strength of the youth,â€ he said.

Because of his success with Technominds, Alvin was a recipient of the very first Nokia Mobile Entrepreneur Award in 2008, which recognizes local entrepreneurs who utilize mobile technology in their business.

When asked for his advice for aspiring young entrepreneurs, Alvin said, â€œFollow your dreams and donâ€™t be scared of taking risks and enduring failures. Most young people are scared to get into business at an early age because they think that business is only for people who are established and old enough. Some are scared of failure, but we must put in mind that it is part of the process. itâ€™s also an advantage to start a business at an early stage because if we fail, we have more chances to get up, redeem ourselves and apply what we learned from the experience. The window of opportunity is bigger while we are still young.â€

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From gasoline boy to a successful entrepreneur

Roy — Tue, 08 Sep 2009 01:07:58 +0000

He was employed as a gasoline pump boy and studied in his tree time. After four years, he finished a degree in Business Administration with major in marketing at the University of San Carlos in 1980. He was promoted and became a manager of the gasoline station after his graduation.

In 1985, Philip N. Tan decided he no longer wanted to become an employee and quit his job a general manager of Tanchan Goodyear Servitek and ventured into a business. He decided to venture into the machine shop business, and the risk paid off.

His company, Wellmade Motors Development Corp. is now regarded as one of the best in the industry.

With the P60,000 initial investment he loaned from his father, Tan constructed his shop on a 200-square-meter-lot in barangay Tipolo, Mandaue City, which is now known as Plant 1.

â€œI started Wellmade as a single proprietorship company which is more into trading, selling general merchandise and servicing,â€ he said. He had three employees then: wife Judith, a warehouse manager and himself. â€œI did the marketing while my wife managed the finances. All of my mechanics were on an on-call basis arrangement because I couldn’t afford to get them on board yet,â€ he said.

He was lucky though that his first clients were big firms like San Miguel Corp. and Pepsi Cola. He was able to pay his loan to his father six months â€“ including interest.

Tan attributed his success to knowing the operations from the ground up.Â He pointed out that one common mistake entrepreneurs make is that they think money can buy everything. He said itâ€™s not true because you canâ€™t buy a personâ€™s intellectual property, his talents and his skills.

â€œSome businessmen just hire people and when these people leave them and become their competitor, they lose and end up closing the company,â€ he said.

Tan was also successful to integrate honesty as part of his companyâ€™s culture. â€œI donâ€™t even have security guards and bundy clocks because I trust my people and my people also respect that. So I never have problems with tardiness and theft in my company,â€ he said.

He gives competitive compensation package to motivate his employees to work. He also believes in giving back his blessings to society through the companyâ€™s corporate social responsibility programs, which include volunteer work the Philippine Business for Social Progress and hiring physically-impaired people.

Since 1998, Tan has opened four more machine shops and now employs at least 120 workers.

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The Iloilo-Guimaras Investment Forum

Roy — Sun, 30 Aug 2009 00:00:08 +0000

The Iloilo Economic Development Foundation Inc. (ILEDF) will host the â€œIloilo-Guimaras Investment Forumâ€ on September 4, 2009 at the Hotel Intercontinental Manila in Makati City. The group will present at the said event, an array of top business leaders to speak on the bright prospects and varied aspects of investments, as well as the innumerable benefits that await investors, in Iloilo City and the provinces of Iloilo and Guimaras.

The group is getting ready to set the pace for their province to become the countryâ€™s next investment hub. Attractive investment opportunities in the areas of information technology and communication, as well as tourism and agribusiness await investors in this province.

It will be a one-day event with keynote speakers starting with Ramon del Rosario in the morning. Del Rosario is the new chairman o the University of Iloilo and president of PHINMA which just bought into the university. He will be talking about their confidence in investing in Iloiloâ€™s educational future.

A luncheon address will be delivered by president and chief executive officer of the Bank of the Philippine Islands, Aurelio R. Montinola III.

The event will start with a commercial exhibit, followed by the ILEDF officials Dr. Alfonso A. Uy, chairman, and Rex Drilon, president, who will deliver the welcome remarks. Iloilo City Mayor Jerry P. Trenas, Iloilo Gov. Niel D. Tupas Sr., and Guimaras Felipe Hilan A. Nava will also deliver messages on that day.

Other speakers on the said forum are: Oscar R. Sanez, president of Business Processing Association of the Philippines; Mariano A. Cordero, consultant, International Rural Development Banking, Miguel C. Garcia, president and CEO of Diversified Technology Systems, Inc.; Jesus N. Alcordo, president, Global Power Business Corp.; and Narzalina Lim, former secretary of tourism; and president of Asia-Pacific Projects Inc., Tourism & Hospitality Consultants.

Iloiloâ€™s aim to be the next investment hub isnâ€™t without a basis. Iloilo Cityâ€™s location and high level of accessibility, coupled with its extensive and comprehensive capabilities in telecommunications are ideal for even more information and communication technology enterprises.

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How to Guarantee Sales Increase

PinoyBusiness — Tue, 11 Aug 2009 06:14:02 +0000

As businessmen, we always think of the best way to increase our sales. F. John Reh, author at About.com offers a foolproof method to do so.

Reh said your sales force and everyone in the company who deals with customers will sell more if you just â€œmake it easier for customers to buy.â€

Reh cites examples of customers having chosen a product but ended up not buying it because they waited too long for someone to assist them in finding the right size or they waited too long to be able to pay for it.

He said smart retailers use staff from other functions as overflow cashiers. It enables them to keep down the cost of cashiers standing around with nothing to do at the same time reduce the length of a customerâ€™s wait in line.

To make the idea work, overflow cashiers should be alert and know when to jump in. They need to recognize the value of providing good customer service by not making the customer wait.

It is all about convenience. Most customers are in a hurry and do not have the time to spend standing waiting in line for their turn at the cash register.

Retailers need to take a look at their operation. How much does the customer have to go through from the moment he decides to buy until he has the product in hand? If some steps could be taken out of the process to close the sale faster, it would be best for the customer and ultimately for your business.

Make the buying experience a breeze and you will increase your sales.

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Rightsizing Your Business

PinoyBusiness — Sat, 01 Aug 2009 06:20:08 +0000

Every business owner comes to a time when he feels that he wants to work less and do other things that are also important to him.Â Heâ€™s not ready to give up the business.Â He just wants to establish a better balance between his work and personal life.

Susan Ward, author at About.com suggests some useful approaches for downscaling your business:

You could start turning down some clients and referring them to others.Â If you are in the service business, look at the hours you work in a typical week and evaluate your client list.Â The easiest way to free up more time is to let the difficult clients go.Â Let them off graciously by delivering on your obligations to them and passing them on to someone else.

You should hire employees to man the store.Â If have a retail business and you are always there to oversee everything, hiring people would be worth the trouble and expense.

You could outsource some functions or aspects of your business.Â There are businesses, like Virtual Assistants and bookkeepers who could do your administrative and office-related tasks.Â You could also subcontract the design and maintenance of your website, if your business has one.

You might want to cut back your hours.Â If you run a store, you could shorten your business hours or decrease your business days.

It wonâ€™t hurt to close your business for a week or two so you could take a well-deserved vacation.Â Take time to let your clients and customers know in advance that you will not be out during those days.

If you have a willing family member, you may bring her into the business to split the work load.Â Eventually, you may be able to teach her to ultimately handle the business on her own.

Lastly, you may lessen the number of products or services you offer.Â You could focus on the most saleable products or services and specialize on them.Â This would simplify your business and make things easier for you.

If you are not sure, whether you should downsize your business, Ms. Ward recommends taking this quick self test “Is It Time To Downsize Your Business”.

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How to Make Profits

PinoyBusiness — Sat, 01 Aug 2009 04:19:13 +0000

The primary goal of a businessman is to make profits. Author and entrepreneur CJ Hayden explains that to post profits, one has to have a good business model. One needs to have a profit-making plan.

Mr. Hayden cites two business models for a business man who is offering his services for $100 per hour. If his business model entails working exclusively for a single major client for weeks or months at a time he would be able to earn a lot. Working four hours everyday, five times a week, every week of the year would allow you to earn $100,000.

However, if your business model entails having a couple of clients and working only two to four hours per month for each, to earn $100,000 you need 20 clients at once and see them an hour per week.

The first business model is sensible as you only need a few clients each year and allows you blocks of time to market yourself. In the second business model, you need steady flow of new clients coming in and you would only have small chunks of time to market yourself.

To fix the second business model, you may think about increasing your hourly fee to $150 or $200 per hour. However, rates like this may be too steep for potential clients. Mr. Hayden explains that increasing rates is not the only way to patch up a broken business model for fee for service business.

He suggests charging by the day or half-a-day. This enforces minimum on your clients and avoids short appointments that chips your work schedule.

He says you could also charge a flat fee per project. This allows you to bill for the time you spend planning, organizing and just going over your clientâ€™s concern.

You can have your client pay you by the month in advance. This assures them that you will be available for them and can ensure you a set number of hours.

Mr. Hayden calls on business men to look into their business models to know why their business is not earning as much as they would like.

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Abra Furniture: A Hobby turned into Business

annie — Wed, 29 Jul 2009 05:09:09 +0000

Cordillera Mountain ranges are considered the largest mountain range in the country. Located around and on it we can find Abra, a province which belongs to a landlocked region. Majority of Abraâ€™s land is forestland which provides sources for different native product including woods that they use for making furniture.

General Manager of Gayaoâ€™s Furniture, Henrietta Gayao, explained that aside from the fact that local residents are making use of the abundant resources that the vast forest area offers; residents engage in woodworking industry because they do not have any other choice of employment. She said that manually produced furniture only requires a very little investment. According to Gayao, you can engage into the woodworking business as long as you have the necessary tools such as hammer, block planner, handsaw and chisel.

The Beginning of an Enduring Profitable Hobby

Arturo Gayao started the business of Gayao Furniture in 1993. Fresh from retirement, he saw the potential profitability of his hobby with the abundant raw materials available in the province of Abra where he is a native. The now 16- year old business started from an initial outlay of 80,000 and the hands of Mr. Gayao with the assistance of a five new and untrained workers.

The Gayaos do not simply have the ability at entrepreneurship but they make it appoint that their products are of quality. Quality control of their product starts from the choosing of good raw materials, to calibration of machine and up to application of latest techniques in finishing. With the advocacy to quality product and the commitment to excellence, in the National Trade Fair held last year, the company was the best seller for the category of furniture and furnishing prototype.

The National Trade Fair highlights the best and finest products from different regions in the Philippines. It is considered to be the most comprehensive trade fair and an authoritative platform for small and medium enterprises which wanted to export their product.

Adjustment to changes

In order to prevent the scarcity in natural resources, the government of the Philippines implemented stern regulations on logging. But this doesnâ€™t stop the Gayao Furniture to continue their business. Instead they have thought of ways on how they can go on with the woodworking industry yet be able to protect and safeguard the resources.

To address the issue, the General Manager explained that the company began planting trees that grow fast like mahogany and gmelina on their personal properties. She added that Gayao Furniture has plans of expanding to 3, 000 tress every year in a cycle of seven year to supplement the needed materials in the years to come.

Peculiarity of furniture made in the Philippines

Furniture made by Filipinos have caught the attention of furniture and trade buyers here and abroad. The innovation and excellent product design of the woodworking industry in the Philippines has maintained recognition internationally. Its designs instill creativity with the rich culture and different influences of its people. Filipino designer have produced crafts that are unique and appealing to the global market with the use of their gift in art and diversity and the abundance of materials.

Mrs. Gayao explained that what differentiate them from other furniture makers in the country is their figure sculptures and furniture which has natural shape of a tree or log.

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Lessons Learned from Michael Jackson: a Great Communicator

PinoyBusiness — Mon, 20 Jul 2009 22:37:33 +0000

Performing is not all about entertaining the audience. It is about how you communicate inspire and move the audience by producing emotional reactions through movement, content, appearance and the most usual of all- voice.

The recent death of the â€œKing of Pop,â€ Michael Jackson, has brought a great loss to the entertainment industry. Many were shocked with his sudden death including Andre Rieu, a well-known violinist and Johann Strauss, an orchestra conductor and other famous people.

Jackson is a superb communicator and a storyteller. It was shown through his music and how he inspires other people through his performances. Similarly, great leaders of business industry are also great communicators whose job is to persuade, influence and motivate other people.

Having a gift in communication is just one part of the story. Jackson worked hard at it just like what great communicators do. To polish their craft and skill, these persons followed some of these rules:

Passion- Jackson and the great leaders wouldnâ€™t become who they are if not with passion. But they are not just passionate, they are able to demonstrate that passion in every place they are and to every people that they come in contact with. Donâ€™t let the corporate culture cross out passion from the workplace.

Planning/Preparation- Jackson spent years in planning, preparing and executing shows. In most business communicators, that shouldnâ€™t be the case as each contact with other people is an opportunity. This, often lead them to success and of course they prepare for it and make it a part of their business plan, a strategy for long term.

Practice- Jackson would always prepare for upcoming shows. He knows how important practicing is to be able to execute his shows properly. He would spend many hours and days to rehearse and practice every note, lyric and move to make it perfect. He did this to mesmerize each one of us. Therefore, know that a great business communicator also do this thing to capture our attention.

Dress and Decorations- Jackson has branded himself through this and it could also be part of how you brand your company. Though in recent years, standards have gone down, still every great business leader creates a look. It doesnâ€™t have to be something elegant like a tuxedo or a dress, but what is important is that it is consistent with the image that you would want to project.

Creativity- Through his music and performance, Jackson created a unique world in his field. Incorporating artistic flourishes into their outreach is what great business communicators and leaders do. They try to be innovative by trying new things and making improvements on the workplaces and environments to achieve success. With a lot of similarities with other companies, one of the few ways to differentiate is through art and creativity.

Telling stories- Michael Jackson share stories through his song and turned it into great songs. With what is happening in everyday life, you can collect stories and integrate them to become a great business communicator.

Accuracy/Execution- Imagine how Michael Jackson can perform for more or less two hours with everything perfectly coordinated. It is because he knows how to execute and he is accurate in his every performance to achieve his goal in giving his audience an unforgettable night. The great business communicators are accurate and execute things on purpose of achieving their goals.

Rhythm- Of course we all know that there is rhythm in Michael Jackson. Great business communicators also have it. Itâ€™s in almost everything that they do, in their decision to push or pull back, in infusing right stories during their public speaking or when they pause to allow their audience to absorb what they have said.

Collaboration- Michael Jackson was not alone in achieving his goals. Neither he nor great business communicator could do it alone. They need a team whom they trust and respect as well as their opinions. In collaborating, you need to learn the significant communication skill which is often set aside, listening! Learn how to listen to your audience, donâ€™t just talk.

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From Ideas to Reality

PinoyBusiness — Mon, 20 Jul 2009 20:56:39 +0000

The human mind is capable of processing several ideas at any given time. At one point, we have wondered which idea to work on and which one to dismiss.

Entrepreneur and author Rajesh Setty, in his blog at Life Beyond Code, wrote that there are three stages to an idea. He developed a simple model that outlines the life of an idea from conception to consummation or death. The model also list the attributes involved in each stage.

The first stage is the Think Stage. Setty says this is the stage when you bounce the ideas off your head and identify the ones you want to work on.

The Think Stage involves curiosity which enables you to engage yourself to an idea and not just look at it from the outside, Setty explains. Connection also plays a part here as you choose the idea that you can relate to. Once you have made that connection to that idea, Conviction comes in. This is when you feel certain that you want the idea to come into fruition.

The second stage is the Tinker Stage, Setty cites. This is when you have decided on which idea to pursue. You are now taking care of the logistics.

This stage brings you face to face with the Challenge. You understand that it takes a lot of your resources to make the idea work and the odds are against you yet you are ready to give things a go. Once you have made up your mind that you can, you then make the first step. This is Courage. Then you spread the word and convince enough people to organize the Capacity you need today and tomorrow to turn the idea into a reality.

Once logistics have been addressed, then you Take Off. Setty says this is when you take flight with the idea. You count on your Creativity to adjust when the unexpected happens. You embrace Change as part of the process and you give your Commitment to see your plans through the end.

This is how ideas turn into reality.