Pinoy Entrepreneur

Trade Area Analysis

2012-03-05T03:10:00.000-08:00

I have never realized that a lot of people would be asking me questions regarding finding the right location for their business. I have always thought that choosing the ideal location is easy as ABC. However, I have received queries through my email how to choose the right location for their businesses. They have emailed me asking if I can give concrete examples or tips on how to pick a spot for their business.

image from http://www.investmentrealtyresources.com/

Since I don't want to answer all the emails individually, I have decided that I will write about this and post it my blog in the next couple of days. I am also going to put illustrations or clear examples which will better serve people on how to pick the right location for their shops.

Just to start this lesson, I would like to tell our reader that choosing the right location for your shop all boils down to how well you know your target market. The first rule on choosing the ideal location is making sure that your shop is near your target market. You might be located near the place they hang-out or they frequently go to.

I want to also reiterate that there are several things you need to focus on and look at. These things are accessibility, barriers to entry, presence of competition among others. You can check it in my previous blogs.

Lastly, I will make this lesson into an e-book which you can download and use as a guide when you are going to expand your business. This e-book will be free of charge. I only pray that you share it with others in the hope that this will drive businesses to grow. We need more businessmen and entrepreneurs to move this country forward.

Thank you very much for all your emails and feedback.

Make Your Business Accessible

2012-02-28T17:25:00.000-08:00

When choosing a location for your business, accessibility should be the first thing you should consider. Your customers should be able to go to your shop quite easily.

There is no use in putting up a business in a cheap location with a parking lot if your customers need to drive an hour to get to your shop. There is also little value in putting your shop in a high-traffic location if you are selling to a small niche - the rent will just eat up whatever you will earn.

image from http://brokensidewalk.com

Getting the ideal location for your business is a delicate balance between making your shop accessible to your clients and making sure that rental payments will not eat into your profits. The most ideal and best locations for businesses are also the ones that have the highest rents. So be very careful in evaluating where you put your business.

Most business people like putting their shops in malls. Understandably, malls offer high volume of traffic for those who want to rent a space. Malls also provide parking spaces. They are also accessible via public transport. If you are a business-owner, setting a shop inside a mall would make good business sense, except for the rent. The rents inside malls are quite astronomical and sometimes even forces some of the businesses to close shop.

If you have a very high profit margin, say for example you are selling jewelry; or you are attracting lots of customers, think of McDonald's, then renting in a mall won't be a problem. You can easily cover the rent with your profit margins or the number of customers that buy your products.

However, if your profit margin is not that high or don't get that many customer, it is best that you avoid setting-up shop inside malls until you are certain you can pay the rent.

Choosing the right location for your business means you have to understand where your customers are mainly coming from and how they will visit your store.

Different kinds of products or services need different kinds of locations. You cannot evaluate a site based how a fast food company evaluates a given location if you are a furniture company. Those who are buying from McDonald's might not be the same people who are buying Ikea products.

When you choose how accessible you want your store to be ask yourself these questions; are you customers traveling by car? Will they be using public transport? Can they walk to your store?

Customers who are using cars need parking spaces. If you are a stand-alone shop, you should be able to provide your customers a parking space they can park their cars on. If you are a jewelry store, it would make no sense to let your customers park one block away from your store. You will just provide opportunities for thieves to rob your clients.

If your customers are using public transport, then make sure that they can easily go to their next destination when they leave your store. This just means, your store should be near bus stops or terminals. It would be no use to rent a place with a very large parking space. You will just be wasting your money.

Getting to know your customer is the key to finding the ideal location for your store. Find out how they will be going to store. Talk to them if possible. Get into their mind.

In the end, you want your shop to be easily accessible to your customers. You want them to get into your shop and buy your products. Make it convenient to visit your place and they will keep coming back.

How To Choose The Best Location For Your Growing Business

2012-02-24T23:10:00.000-08:00

image from http://www.designpax.com/

One of the most difficult things an entrepreneur has to go through is choosing the right location for their business. Anyone will tell you that a location can make or break a business. A business in a very good location can grow faster than a business in a not-so good location. Meanwhile, a business who is not accessible or cannot be seen by people will eventually close. It doesn't matter if the business is good.

Any entrepreneur who wants to grow and expand his business must be able to identify the ideal location for his business. The ideal location for your business is where your primary consumers can easily go to your store;whether they have cars or not, and buy your products, you don't have any competitors within the area and the rent is so affordable.

But in most cases, I see badly placed businesses. The businesses-owner decided to put-up the shop there because the rent is affordable and that is the only place available. Most of the time, the decision to open the store on a badly placed location will result in the business not taking off.

These are the factors you need to look-out when choosing the ideal location for your business:

Accessibility - your shop should be accessible to your target market. They should be able to find your location immediately. If your customers have cars, do you have a parking lot? If your customers will be going to your place using public transport, will they have no trouble finding a taxi or a cab?
Barrier to entry - a construction going on in-front of your place will make people twice before they enter your store. Make sure that your entrance is free from obstruction and can be clearly seen by your customers.
Foot traffic - choose a location where the foot traffic the quite high. A high foot traffic will enable you to have a higher capture rate (the number of customers who will go in your store versus those who are just passing by).
Traffic generators - these are things, events and other businesses that gives the reasons why your target consumers are in the area.
Presence of competitors - you will have a greater chance of attracting customers when you don't have competitors in the area.

I will be discussing each of these factors in my next few blogs. I will also cite some examples on how these factors contribute to the success of your business.

I will share with you some stories and anecdotes regarding my experiences in choosing locations for a food business. I used to work in the fast food industry and we have developed a system that helps you determine where to put your shop.

Grow Your Business

2012-02-20T17:20:00.000-08:00

image from http://financewand.com/

All entrepreneurs and business-owners want to grow and expand their business. When they grow their business, they will be able to hire more people and at the same time increase their profits. But most have trouble thinking of ways to expand their businesses.

Let us look at the factors that can help you decided whether to expand or not.

Increased customer base. You will know you need to expand when you see that customer from far locations are going to your place just to buy your products or service.
Maintaining your lead. If you are the first mover in the market and you want to maintain your lead over your competitors, it is best that you expand aggressively so that it will take some time before your competitors can catch-up with you.
Market saturation. When you have saturated a particular market or area, it is time to venture and look at the possibilities of opening new stores or shops in other locations.

There maybe other factors that you may need to consider when you expand, such as your current capital and how will you hire the additional manpower that will work for you. Growing and expanding your business is not an easy task. You need to constantly study whether the market you are looking will make your expansion worth while or not.

In the next few blogs, I will write about what are the things you will need to consider when expanding in a new location or market.

It's LIN-sane

2012-02-15T23:08:00.000-08:00

I know that most of you are quite tired reading about Jeremy Lin and what he has done for the struggling New York Knicks. I would look at add some of my thoughts what he has done and what he is and try to relate it with what being in business has got to do with his exploits. If you don't want to see anymore of Jeremy Lin, I urge you not to continue reading this blog.

The NBA and Asians are fascinated by one player who is named Jeremy Lin. We had no who Jeremy Lin is and where he came from before he showed what he can do in the hard court. For those who want to know about Lin's story, you can check it out here.

image from http://money.cnn.com/

I would just like to point out several things that an entrepreneur and a business-owner can learn from Jeremy Lin.

1. Never lose hope.

Jeremy Lin went undrafted in NBA after graduating from Harvard. Most scouts hardly noticed him and his talents. In fact, several NBA teams let him go after they acquired him. Before being acquired by the Knicks, his most recent team was the Golden State Warriors.

Yet, Lin persevered and worked hard. He studied the game and improved it. When the opportunity came knocking, he was ready.

Most of the time, we are dreaming about that one opportunity that will let the world know us. We tell ourselves that when he get that one opportunity, we will let the world know what we can do and how good we are. We must also realize that we always be prepared. We must be ready at all times. Opportunity knocks in the most unexpected moments.

Lin's opportunity came when Coach D' Antoni of New York had no hope left and was willing to try out anything.

2. Always work hard.

We have read stories about Jeremy Lin and how fame has not changed him. His team mates has said time and again that Lin continually works hard even in practice. This also translates to how hard we see play on the floor. It is not often that we see a 6'3" guard out-score Kobe Bryant or heave a game-winning shot.

His statistics is a testament of how hard he plays and plays to win. Aside from scoring, he rebounds and makes plays. Because of his dedication to the game, he has made his team mates look good!

3. Faith in God.

People say that Jeremy Lin is the Tim Tebow of the NBA. I beg to disagree. Jeremy Lin is the Jeremy Lin of the NBA. He is unique. He has special talents that he used to the fullest. His talent is brought about by his faith in God.

It may be easy for Lin to blame God on why he was not drafted. It may be easy to feel down and out when teams dropped him. But he did not. He stayed positive and knew that better things are laid out for him if he just prepared for it.

Will his star continue to rise? Will he play the game consistently? It really doesn't matter. What matters is that he has given people hope. And I think with that. he has already done more than enough...

Buying Is An Emotional Decision

2012-02-12T23:04:00.000-08:00

"How does your waterless car wash and wax work?"

"Well, sir, we just spray our NoWet Waterless Car Clean solution on a panel of your car. The solution emulsifies and it lifts off the dirt from the surface of your car. We then wipe it off. The solution also contains wax that protects your car from the harmful elements of Metro Manila, making your investment last longer."

"How long does the protection last?"

"The protection last for 4 weeks. The dirt and the dust will not stick on your car unlike conventional car washes since the wax we are using is non-static."

"How much is your car wash?"

"It's four hundred pesos for a waterless car wash and wax. But we do have a four-week guarantee. You can bring your car here for three times within the four-week period. Effectively, you are able to save more in terms of money, time and effort since you will not be bringing your car to a car wash as often."

"Okay, you can clean my car."

image from http://benparr.com/

People tend to buy once you have broken through their emotional barrier. In most cases, a logical appeal or statement will not work since people are often preoccupied thinking about their own needs and wants.

Here are some of the common emotional appeals that can help you understand people and breakthrough the emotional barrier put-up by people:

People want to get more something and acquire something which they don't have.
People want to avoid loss and embarrassment.
People want to treated and seen as special or unique.

In the above discussion, there are several emotional appeals that we have used to encourage our clients to get our services.

We want our clients to protect their investment. By getting our service, we tell our clients that their cars will last longer. Our NoWet Waterless Car Clean solution also protects their cars from dirt and dust.
Save money, time and effort. People don't want their time and hard-earned money to be wasted. This is the reason why they come to us. They don't need to go to a conventional car wash as often.

Learn to address their emotional needs and you will broken through one of the barriers that people put up.

Benefit Selling

2012-02-11T17:30:00.000-08:00

I like going to car dealerships and looking at new cars. Cars have always been my passion. I would normally talk to sales agents about certain features of the car and how it can benefit me, as a car enthusiast. Unfortunately, I get disappointed most of the time.

While the sales agents or marketing professional can discuss the car's features and some facts about the car; they are very hard put how to translate the features into benefits. When you are trying to sell people something, you must be able to tell what's in it for them, or how will they benefit from what you are selling.

A typical car buyer goes into a dealership looking for a car to use. In most cases, he has two or three choices in mind. In most instances, a good marketing professional can upgrade a sale because he understands what the customer wants - earning him more commissions. He knows how to translate a car's features to benefits that the client will surely enjoy and love.

image from http://en.wikipedia.org/

Let me illustrate.

Everyone that knows me can tell you that Subaru Impreza WRX STI is my favorite car. I like the 2006-2007 model than the newer generation of STI's. I will use this as an example to highlight the differences of features and benefits.

A marketing professional will tell you these things about the car:

All Subaru cars have a boxer engine; this is different from the traditional in-line or V configuration engines. A boxer engine can have a lower center of gravity.

What does that mean? If you were the buyer will you understand what was said?

Now try this one out;

A Subaru car has a boxer engine, which has a lower center of gravity. A lower of center of gravity can make your car more stable during cornering and high-speeds. It is safer compared to the other types of engine configuration.

Is it clear how can a boxer engine benefit the buyer? To convince the buyer, you can also add figures and statistics supporting your claim.

How about this one:

All Subaru cars use a four-wheel drive system. A four-wheel drive system engages all the four wheels of a car.

How do you think a customer will benefit from a four-wheel or all-wheel drive system? What can you say about the revised sales pitch below?

This Subaru STI has an all-wheel drive capability that delivers excellent traction and control on whatever road condition or weather you are in. You feel safer and secured than in a conventional front-wheel system.

When you are selling products, it matters to the customer how it will benefit him. Even if all the features of your products are great but you are not able to translate it to what's in it for your customer, you might lose the sale.

Know Your Customers

2012-02-09T05:36:00.000-08:00

When we are selling products or services, we must be able to know who are our customers. Unfortunately, in most cases, I've talked to people who cannot even describe who are the primary users of their products.

As I've said in my previous blog, to be successful in business, entrepreneurs and businessmen must learn how to sell. Selling is essential in all aspects of business. Getting people to buy your product is the only way to grow your business. If you can't convince enough people to buy what you have to offer, your business will surely close down.

You may be offering the best product in the market but if you cannot tell it to your target market, you will not get any sales.

image from http://teamaltman.com/

As an entrepreneur, the first thing you must do is to know who your customers are. Know them inside and out. Know what they need and want. Know their aspirations. Know how will they feel once they purchase your product.

Let me illustrate.

I once worked in a start-up online job portal. I was tasked to develop new opportunities for our company to explore and make money without straying too much on the vision and mission we have laid out. Our company aims to give all job opportunities an equal chance of getting hired. The company wanted to do this by highlighting both the technical and behavioral qualifications of the job-seeker.

There is no question about the a candidate's technical qualification since it is already printed in a resume or curriculum vitae. A candidate will know his behavioral fit for a job by answering an assessment. First world countries have given weight for a candidate's fitness for a job. However, in our Philippines, most companies are not utilizing this tool that much.

Companies still place importance on a candidate's technical and measurable qualities.

There were so many things the company I was working for tried. The company ventured into MLM; they even tried franchising the system even without developing a proof of concept. As expected, these ventures failed.

Cutting the long-story short, the company tried selling assessments to job-seekers. These are job-seekers who are on a tight budget. These are job-seekers who just want to get any job because they need the money. Obviously, there was a disconnect in this system.

Leveling the playing field for job-seekers who graduated in Manila and the provinces needs the cooperation of the local government units and the businesses who are found in the provinces. The local government can only do so much with a limited budget. At the same time, the local businesses need all the help they can get to make their business grow. If they can get the right people without spending too much on classified ads, they will surely take the opportunity.

An integration among the needs of the local government units, business-owners and job-seekers is necessary. And this was what I developed. Local government units would be able to file, update and record all the job openings and job-seekers in the area. They will be able to match the requirements needed by the companies to the applicants in their database.

Business-owners will be able to go online and sift through the resumes of applicants and job-seekers in their community. The LGU can charge for a small fee or can offer the service to the business-owners for free. They can even shoulder the cost of the assessment before they hire the applicant just to be sure that the applicant will fit the job.

Applicants will immediately know the companies that are hiring in their area. They can apply to these companies with a click of the mouse. They don't to waste money by going to the company in person.

It took sometime before the program was able to take off the ground. We did alpha and beta testing.

Unfortunately, events happened that forced me to leave the company and ventured out on my own. When I talk to my previous colleagues, they have been telling me that the system that I developed is working and they were able to make good money out of it.

The point of the story is this, before you launch any product or start any endeavor get to know your target market. Find out how they will purchase your product.

In the end, you may have to reposition your product once you understand who your customers are.

The Art of Selling

2012-02-06T22:50:00.000-08:00

When I was in college, I told myself that I would not be a salesman. My idea of a salesman is someone who sells insurance, condominiums and those Electro-lux men. They would hound you at all times of the day, calling and texting you just to get a sale.

Little did I know that the art of selling is an everyday occurrence. We sell our ideas to our friends when we tell stories. We sell our point of view to our partners when we tell them our ideas. We sell our vision to our employees when we tell them what are our plans. Selling cannot be avoided; it is part of our every day life. We are selling all the time even if we are not aware of it.

Entrepreneurs understand that selling is a great part of whether their business will succeed or not. They understand that they need to sell their products so that they can pay for their expenses and earn profits to expand and grow their business. They train people until they are capable of selling their products.

image from http://zenmastersales.com/

But what happens if someone who has not sold anything is suddenly put in a situation where he needs to sell? Most often than not, he will be shy. He will not be able to meet his quota and will blame extraneous circumstances for his failure. When he has not met his quota for a couple months, there will come a time when he will blame his boss or the products themselves. This scenario is not only harmful to the individual but also to the company as well.

Entrepreneurs must place importance on product and sales training. He must make sure that everyone of his employees know what the product can do for their consumers before they go out. The entrepreneur must feel assured that his sales staff will be able to overcome any objections placed by their target market.

In my experience, I have come to realize that there are three important factors that determine the success of each sales staff. The factors are:

Knowing your customers.
Sell them the benefit they will be getting when they buy your product.
Buying is emotional.

In my next blogs, we will be discussing these factors in detail to help you become a successful salesman. You can also use these three when talking to anyone to win them on your side.

Lastly, the mastering the art of selling takes time. You may see that some people have the knack for selling - natural salesmen; while others are not good at it. You must need to practice often and practice consciously to be able to sell more.

Change Management

2012-02-03T15:22:00.000-08:00

I was unable to write and update my blog for a few days since I have asked my partner to redesign and customize my blog. We have agreed that my blog should be easy for the viewers to use and view the articles I have written and at the same time, be personalized to reflect my own identity. She is still in the process of redesigning my blog.

There also comes a point in every company where we need to change and shake-up things. Most employees want the status quo. Unfortunately, no one thrives by being in the same environment for so long. Major changes have to be made so that companies will prosper and reach higher levels.

Life on earth wouldn't be possible if there were no major cataclysmic changes that happened. The earth would be all rocks and gases if no meteorites hit our planet. Recent studies say that the water in our planet may have come from meteors and comets.

Why and when do we need to shake-up things? Is it really even important?

image from http://www.genetologisch-onderzoek.nl/

When you are working, you want to have a routine. Routine helps you in making schedules and meeting deadlines. Unfortunately, routine can also hinder your growth. When you get comfortable with the routine, you don't look for ways to do your job more creatively. You get stuck and stumped when certain issues arrive that you haven't handled before.

Encountering change and being placed in a new environment can help you see clearly and offers you more perspectives. You begin to see your paradigm shift and you begin to solve problems more creatively. When change happens, we get uncomfortable at first but we adjust. During the adjustment phase, we are open to ideas that will help us address our concerns more creatively.

When we stay and stick to the routine for so long, we begin to stagnate. We get bored and we often find ourselves on automatic-pilot. Our performance doesn't go up but may eventually go down - a plateauing of sorts. This is what we want to avoid.

A good indicator of how we can avoid this trap is by continually challenging ourselves and our company. In GreenRides, we have been so used to cleaning cars that my partner and I will be expanding our services soon enough. This will force our employees to learn more and get out of their comfort zones. But before you implement changes here are some of the things you must consider:

Have you reached your peak performance? You must ensure that you have learned everything you must before you can move on to higher levels. You must be able to master walking before you can start running. When you jump or skip levels, you are bound to fail and fall hard. Make sure that you learn master one task before you advance to another task.
Learn new things but build on present knowledge. When you want to improve things, you must make that you build on what you currently know. There is no use in learning calculus if you don't know how to add and subtract first. The knowledge that you currently poses will be used to move to a higher level. This is why I ask you to learn to master and be expert first before you move on.
Accept other ideas. There are people who have done the same things as you are doing. Some may have failed miserably and others have succeeded quite well. Learn from them. Learn why they failed and understand why they succeeded. Use this to your advantage. There is no use making the same twice.

Creating Championship Teams

2012-02-01T04:00:00.000-08:00

All organizations have politics. It doesn't matter if you are a big multi-national company or just starting-out. It just happens that some politicking are more pronounced than others.

My partner and I have had our share of politics in the office. We've had to let go of some people because we have seen and heard how they talk. These people create discord and talk negatively about other people behind their backs.

Since we are a young organization, we want our employees to feel they are part of the family. We want them to understand that we are all working towards a common goal. A good team must work together to achieve its dream. A great example of this is the Dallas Mavericks. They only had one legitimate superstar but was able to work together to beat the heralded Miami Heat.

image from www.blog.pennlive.com

How can a team or an organization be able to work harmoniously together? I will use examples from the Dallas Mavericks.

Work hard. When things got rough for them, they never gave up. In fact, people were counting them out even on the first-round of the play-offs; but they persevered and fought on. They fought hard each time.
Know your common goals. The Dallas Mavericks knew what their goal was. It was never to reach the play-offs. It was to win the NBA Championship! They never had the best record in the NBA coming into the play-offs but they knew why they were playing the first place. All of them wanted to win.
Respect your roles. Not everyone can be a superstar. In a team, you have a point guard that calls out the play, a center that helps in getting the ball during a miss. Every one must know the roles that they play. Unfortunately, a team on the court can't be all point guards. Know what your role is and be good at it!
Listen to the coach. When you are in the field, you are too attached on the situation. A coach tells you where are the weak spots in the opposing team or how you can score when the defense tightens. Always listen to the coach and respect him when he asks you to sit on the bench for a few minutes.
Always seek improvement. You don't get to be a championship team if you think you are better than all the other teams. You become a championship team through constant improvement. You must seek ways to constantly improve your free throw or three-point accuracy. Once you stop improving, it will become your downfall.

Out of Your Comfort Zone

2012-01-27T16:42:00.000-08:00

"We expand our world when we go out of our comfort zone."

I remember hearing this said to me a couple of years ago. I just forget who said it. I do remember it now and the relevance and truthfulness of that statement.

A couple of years ago, five years to be exact, I was just minding my own work as a business development manager in an online job portal. I wasn't looking to start a business. I wasn't even thinking of going out and meeting people through my talks and hosting projects.

Five years ago, I was in an office working from 9am-6pm thinking of ways to grow and expand the services of the company I was with. Five years ago, I was commuting daily waking up early so I will not be late.

Five years ago, I was getting paid every 15th and 30th of the month. I was saving barely enough, just buying the things that I truly need.

Every thing changed when I decided to join the Subaru Impreza Endurance Challenge in the Fort. The top 10 finalists will be going to Singapore to have a chance in winning the Subaru Impreza WRX (my dream car). To be in the included in the top 10, You must endure standing up in the heat of the sun holding a Subaru Impreza sedan with your right hand. if you let go or even move your hand, you can be disqualified from the contest. Five-minute breaks are allowed every after 6 minutes.

I wasn't included in the top 10 but I was close. I stood for more than 28 hours and 50 minutes in the30 hour endurance challenge.

The challenge changed my life in more ways I could imagine... After the challenge, I was asked for an interview in a cable channel. They invited two winners and me, as the not so lucky one, and the organizers of the challenge.

Once the interview is over, the director approached me and asked if I can host a business show they were producing at that time. Although I had no experience in hosting nor have any communication arts background, I eagerly accepted. It was a new challenge for me.

I found myself being open to new opportunities. There was a time I used to say 'no, it was not me.' I began saying 'okay, let me give it a try' more frequently after the Endurance Challenge.

When I started hosting, I did not do well in the first few episodes. I continually asked for directions and advice. The positive side is that, I began to talk to more businessmen and leaders in different industries. I got to know more about business strategies, finance and marketing. It has helped to grow as a person.

With Mr. Lloyd Luna

When I was also a TV host, I met Mr. Lloyd Luna. He has asked to join their pool of speakers in the Professional Speakers Association of the Philippines. This paved the way for a couple of speaking engagements.

I never dreamed nor thought of becoming a speaker. I grew up as an introvert. I shied away from public places. I would rather stay at home than go to a social event. I still do, but I can now speak in front of hundreds of people.

A chance meeting in a coffee shop in one of the malls in a business district also opened an opportunity for me to help my Alma Mater. I didn't realize that it will also pave the way for a regular hosting assignment in the forums organized by the Speakers Bureau of the Alumni Association.

With the officers of the Ateneo Alumni Association

Because of the business that I am in, there have been invitations and interviews from several media outlets. We were featured in TV and the newspapers. I was also interviewed in radio.

With DJ Vince, Mr. Ching and DJ Tracy of the Wake-Up Show

I never thought that once I decided to go out of my comfort zone, my world suddenly expanded. The things that I am doing now, wasn't even in my mind a couple of years ago.

Going out of our comfort zone can be quite scary. We have been used to the status quo. We want things to stay the same. However, if we do stay the same, we will be left out eventually. Change is happening at the speed of thought - as what they say.

How do you manage to go out of our comfort zone and still be grounded. Here are the things I've learned:

Be courageous. As the saying goes, courage is not the absence of fear but the judgement that something else is more important than fear. Think about the things that you value the most - is it financial freedom? How can you achieve that if you are afraid?
Get a supporter. When things get rough; they will really be going to get rough, you will need someone to talk to you will constantly remind you that every thing will be alright. Your supporter will be the one who will continually cheer up when you are done and push you even harder when you begin to slacken up.
Keep true friends. I may not have a lot of Facebook friends but I do keep a handful that I can always count on. These friends have been with me since college. They know where I came from and the challenges that I've faced.
Stay humble. Know that you do not have all the answers. Know that a street-sweeper may know some things that you don't. Don't belittle a person because you think he cannot help you. Learn from people and be a good student.
Constantly accept new challenges. Do not say 'no' immediately nor say 'yes' to everything that is being offered. Look at it from a bigger perspective and think how it can help you grow and become a better person. If you think it will help you reach your goals, then accept it. If it will just keep you from achieving your mission, say 'no'.

Choosing To Make Difference

2012-01-27T03:50:00.000-08:00

The second and third speakers at the forum organized by the Ateneo Alumni Association through the Ateneo Speakers Bureau were Coach Pia Acevedo and Pia Magalona. These two wonderful ladies set-up a company called The One Core, where they help you to make a difference in your life that will also make a difference in your relationships.

One Core will be able to help the students of the program find where they exactly are in their lives and what are the things they can do to be able to achieve the things they want to achieve. Through One Core, students will be able to learn how to master their lives and how they will be able to choose positive responses.

When people chose to respond positively, this increases their confidence and certitude. It helps them to create a difference in their lives.

One of the things that I have learned from Coach Pia is that to be able to keep yourself sane, stay away from negative people. Choose when to be available to them. When we interact with people, we continually come across different characters and personalities. Some people are very positive and are even oozing with energy. When you are with these types of people, you simply feel good! You want to be around them all the time.

On the other end of the spectrum, there are people who drain your energy; so called 'energy-vampires.' They seem to be whining all the time. They are the victims of traffic, of their birth and their existence. These are the people you want to stay away from. Coach Pia advised that you should not be available to them all the time.

When you have no choice but to meet these people, it is best that you already have an agenda of what you will be talking about. It greatly increases your chances of staying away from the person as fast as possible.

One Core also offers other programs such as personal coaching and assisting you in defining a career that is right for you among others. You can also look-up their programs by clicking here.

In the end, we all want to make a difference. But we need to start with ourselves before we even begin to think of changing the world.

Create Your Wealth Now

2012-01-23T17:09:00.000-08:00

I hosted a motivational forum last Saturday, 21st of January 2012. The speakers came from different backgrounds and industries. As I have mentioned in my previous blog, I will be sharing with you what the message they imparted during the forum.

image from havocdigital.com

Let us start with Mr. Mike Palacios, Director of Havoc Digital and the owner of PinoyExchange.com. Mike Palacios has been immersed in the Internet industry and Internet technology since he graduated from the Ateneo de Manila University a couple of years ago. He started PinoyExchange.com when the Internet service in the Philippines was still being accessed via dial-up.

image from pinoyexchange.com

He admitted that it took him several years to make PinoyExchange.com successful; it is now the largest Philippine portal forum in the Internet. He mentioned that whenever they would have meetings with prospective companies and sponsors, they would have to literally explain what the Internet is and how it can help their business.

Fast forward to today, everyone knows the Internet and access can be done virtually everywhere. There are hotspots in malls, cafes and restaurants. You don't need a laptop or a computer to access the Internet. He said that the lower social economic group will have their taste of the Internet using a smartphone. Just imagine how fast technology is changing. Just a few years ago, when you had a mobile phone, you were considered rich. Now, everyone is looking to have a smartphone.

What does this mean for an entrepreneur or someone who wants to earn some money on the side? It means it will be easier for you to sell yourself and get your message across.

If you are company who wants to expand your business or get people to talk about your product or service, you must engage the customer. Let them know what they can have when they get your services. You must always be accessible to them.

If you want people to trust you, get their friends to talk about you. With the proliferation of social networking sites, it would now be easier for people to tell and share their experiences once they have tried your product or service. Give them an incentive to share their experience.

The Internet also offers new opportunities for people to start a business very cost-effectively. There was a time that you have to have lots of capital to set-up a business. Now, all you need is a domain name and web-hosting service where you can upload all the files or pictures that you need to promote your products or services.

Things have become cheaper with Multiply and other social networking sites that promote selling and buying among its members. You do not need to have a warehouse or build a store where people can come to you. You just have to set-up an account and post the pictures and descriptions of what you are offering. I know people who are earning so much leveraging the power of the Internet.

Lastly, since Internet technology is rapidly changing and evolving, you must be able to change how things are done. There are several smartphone applications that are already creating a new way of doing things. Just recently, I went to a mall and saw that if you were a subscriber of one particular telco, you can pay and already book for your movie tickets in advance. You don't need to fall-in-line.

There are many opportunities that we can grab which were not present before. We just need to adapt and learn how we can take advantage of each emerging technology. Once we begin to see opportunities, then we can slowly create wealth and increase our passive income.

Positivity! Motivating Yourself in 2012

2012-01-21T22:36:00.000-08:00

I hosted a forum yesterday. The forum was another project of the Ateneo Alumni Association through the Ateneo Speakers' Bureau. The topic of the forum was, Positivity: Motivating A Better You!

The speakers were quite amazing. We had Mr. Mike Palacios, he co-founded pinoyexchange.com, currently the biggest forum portal in the Philippines. He had a very amazing story to share about grabbing opportunities and expanding businesses. Since he has been in the online industry, he gave valuable pointers on what can be done to expand your customer base using the Internet and how to get in touch with more people using new and upcoming media.

The second topic had two speakers, Coach Pia Acevedo and Pia Magalona. Pia Acevedo was my professor in Theology while I was still studying in Ateneo. She has positioned herself as a life coach that helps people create a difference for themselves. I do recommend that you go to their company's website and talk to them. I will be incorporating in my future blogs the things I learned from Coach Pia.

The third speaker was Mr. Hans Montenegro. He was an actor who successfully transitioned and made a career in the HR industry. He realized that being an actor was not a long-term career and job that was why, he decided to leave show business and have a career in HR. You don't meet a lot of people who are well-known in the HR industry as much as Hans Montenegro.

Further, he also had a very amazing story to share. He flunked his first year in the secondary education. He confessed that he didn't do well in school and had no idea what he wanted to do in his life.

In the next few days, I will writing about what each of these speakers talked about in detail. I will also try to get some pictures taken from the event and I will share it with you guys.

We are just beginning 2012. We are only in its first month... In spite of all the unsettling developments that we have, I do believe that this will be a year of opportunities and more positive things to come. We just have to make things happen. We need to stop dreaming and start doing.

Shared Office

2012-01-20T03:43:00.000-08:00

My partner and I have been quite busy the past few days. We were looking for a new head office. We had to do this since the present office we are currently occupying is still not yet done. Construction works are still on-going.

We wanted an office that can be used to meet prospective business partners and franchisees. We also wanted an office that can receive mails and accept deliveries for us. We don't intend to use the head office as a place where we would show our services. We have our four shops to do that.

Realizing that office space rental is one of the biggest expenses of any company or business, we had certain criteria that we are looking for when choosing an office. These are the following:

It must be accessible by every one.
The place must be conducive to conducting meetings and presentations.
The rent must be affordable enough so we can focus on expanding our services in our shops.

Luckily, a previous colleague emailed me a new concept in the Philippines. It is a shared office. It's a location where businessmen can use the facilities; which include the phone, Internet, tables and chairs, when they become a member. It is like having your own office without investing on utilities, construction and other equipment. Once you become a member, you can automatically use the facilities that the shared office have.

image from http://thedailyoverdose.blogspot.com/

Aside from saving so much on utilities and other expenses, you can also network with other businessmen who are members of the shared office and you can really save a lot on rent. The membership fee for the shared office is pnly Php6,000 per year or about Php500 per month. It's the price a couple of latte's in Starbucks.

The shared office is also located in the heart of Ortigas Center in Pasig. It is near malls and has ample parking space. You can view the write-up and photos of the shared office space here.

As an entrepreneur, it is vital that we learn to be able to lower our admin expenses so that we can increase our marketing budget. The marketing budget will help us in making our presence known to prospective clients and customers.

Motivating A Better You!

2012-01-16T04:05:00.000-08:00

I would just like to share with you the event of Ateneo Alumni Association. We all need motivation to sustain us in these challenging and trying times.

I will be hosting the event.

What Drives You?

2012-01-14T15:48:00.000-08:00

I love this commercial of Chevron (formerly known as Caltex) where they ask 'what drives you'... Or in other words, what are you passionate about? Passion is loosely defined as a powerful emotion or feeling. Passion is what drives new entrepreneurs to great heights and success.

Let me give you an example...

This person's passion was to make people beautiful. He started out his career in the 'beauty industry' sweeping the floor of a salon. He used whatever he earned to open his first 'beauty parlor,' which only consisted of a wall mirror, shampoo chair, a bowl and a dryer. Of course, it included his tools for the trade.

image from http://www.cavalletticommunications.com

But after some time, he was able to open-up a couple of salons within Manila. His big break came when he was offered a space in one of the biggest malls in the Metro Manila. Today, he has more than 1,200 employees and has a foundation. His successful 43 chains of salons is considered one of the biggest in the country. He is no other than, the 'Mother of All Entrepreneurs, Ricky Reyes.'

This is just an example of how a person who knows his passion can be successful. There are other rags-to-richer stories like Ricky Reyes. Some of these people are Manny Pacquiao, Dado Banatao and Mother Lily Monteverde.

These people are examples of how they live out their passions and have become successful for it. When they decided to reach greater heights, passion was what kept them going. They sought out new ways of doing things more effectively and efficiently. When things got rough, they never give up. Passion gave them a taste of success and they used it to further their horizon and make themselves an icon for other to follow and emulate.

These people have become successful because of passion. They know that hard work is the only avenue they have to take for them to be successful. They don't care much for excuses, rather they have looked for ways to make themselves better. In the process, they have separated themselves from the pack. They shall serve as our inspiration.

Is Buying A Franchise For You

2012-01-13T02:38:00.000-08:00

I had a very interesting discussion with a friend who wanted to put-up his own business. He said that he doesn't have the experience and enough capital to venture out on his own and create his own product or brand. He is thinking of getting a franchise.

I understand him and I advised to get a franchise concept that is new and not easily copied. Food carts are a no-no since I know many food cart businesses that have lost money. Also, food cart concepts are quite similar to each other. The market is already flooded with choices.

He asked me for some tips and advice on how to choose the right business to franchise.

image from www.allfungi.com

Franchising has been a great opportunity for people who want to own a business but don't have the expertise and time to make a system and learn everything from scratch. Entrepreneurs have lots of choices in franchising, but the most common is a food cart business.

Below are some of the tips in getting a franchise.

Make sure that what you will be getting won't have any competition in the market. Competition eats away your market share. This is the reason why I am hesitant to recommend getting a food cart business since there are so many food cart franchisors offering the same products and services.
Support from the company. A franchisor is responsible for training the franchisee and his staff. The franchisee, in turn, must make sure he and his staff must learn what the franchisor has taught. From time to time, the franchisor will send his own staff to monitor and supervise a franchisees staff.
Constant marketing campaigns to ensure that the product or service will be on the customers' minds. Since a typical person will be bombarded with more than 5,000 ads on a typical day, the franchisor must seek creative ways to reach his target audience. This will ensure that the customers will go the franchisee's store.

But getting a franchise is not a going to be a sure-shot success. It all still goes back to the franchisee. A franchisee must supervise and learn the business inside-out. He must conduct local store marketing campaigns and ensure that the his staff are doing what they were trained to do.In the end, the franchisee is ultimately responsible for the success or not of his own store.

No Money Down Marketing

2012-01-10T16:32:00.000-08:00

As a business owner, we are looking for ways to promote and market out business without spending too much. As any entrepreneur would tell you, if you are in the start-up phase, it would be best to spend your money on marketing your services and products.

We all know, that posting an ad in TV or radio is expensive. If you are just starting out, that is out of the question. You want to reach more people more effectively - this is the only way you get your money's worth. But how do you do that?

Here are some of the things that we were able to do and we hope that you learn from them, too:

Serve a profitable niche in the market. This the reason why I tell people time and again, to go into business that will separate them from the pack. Don't get another food stall. Food stalls are dime a dozen and I know so many people who lost money because they invested in a food stall. We were able to be featured in several media outlets already because of the niche that we are serving. You can watch one of the interviews that we have had here.

At the Toyota Caravan last August 2011.

Highlight your competitive advantage! People always want to join the bandwagon. If they see people earning in a certain business, they will immediately put-up the same business. We have been chosen by Toyota to be the official car cleaning service provider because of the differences that we highlighted and how much better our service is compared to other car cleaning companies.

Take advantage of group buying sites. These group buying sites can help you in marketing your products and give you a small return for your services without investing in marketing. They may ask for 50% off or bigger so it's better to negotiate with them and be firm. Know how much you are willing to shell out and know how much you are willing to earn. You can see the new service we wanted to promote here.

Invite bloggers to try out your service. Bloggers have a loyal following. They are viewed as unbiased and honest in their opinion of products and services. Compared to traditional media outlets, bloggers don't have editors to screen whatever they write. They can tell you the truth about certain products or services. You can see what was written about our company here and here.

Sometimes, it just takes a little creativity and a lot of guts to market and promote your products without putting any money down. My partner and I worked on this together and we were glad that it brought positive results in our venture.

Try the things we did and see how much buzz you will create. Or, if you have better ideas, please share them with our readers.

Donald Lim Talks About Education

2012-01-08T16:55:00.000-08:00

Our parents have constantly told us that getting a good education is one of the best assets we can have.

Mr. Donald Lim is a living testament to that. At a young age of 33 years old, he has already finished his PhD program. He places a great value on education.

One of the greatest assets of an entrepreneur is his love for education and continuous learning. Age is only a number and as long as he is living and able to do so, he will continually strive to be a better person today than what he was yesterday.

Let us all learn from Mr. Donald Lim.

Network Marketing

2012-01-05T18:38:00.000-08:00

I would just like deviate from my usual lessons to talk about mulit-level marketing or network marketing. I am neither encouraging people to join it nor am I discouraging others. What I am writing is purely a personal opinion. I suggest that you do some research if you intend to join a network marketing company.

I received a phone call from a guy who tried our services in one of our franchised shop. He said that he has a business to offer which is similar to what we are doing. When I pressed for more details and asked if he can send me information via email so I could check this out and get back to him as soon as possible he insistented on meeting me personally. So I agreed to meet him the following day.

When we met and I asked how can I help him out, he began to tell me about his 'business'. He said that he has been in network marketing for a couple of years already. He told me how much other people are earning because of this new business. He even told me that this company is expanding in Asia through the Philippines and that Philippines will be the 'tip of the spear' (words of their CEO) in Asia.

I asked about the products and how are they different from the other products being offered in the market - either through retail sales or direct-selling. They told me that their product is superior and are 100% organic. The products don't have any side-effects. They then immediately proceeded to tell me about the compensation plan and how much do I need to invest.

Image from www.networkmarketingidea.com

After the presentation, they told me that one of their 'legs' is already strong and they need to strengthen the other 'leg' to be able to earn the incomes they showed. They said that I don't have to do anything but to tell people about it and they will be the one to present.

I thanked for them for their time and told them that I will be doing some research and will be talking to my partner about their proposal. They left me a product I can try out.

In all honesty, this is not the first time that someone approached me and asked me to join their network. In my previous job, we even thought about implementing such a system. I and my other colleagues decided against it after seeing how it would work. So the CEO decided to get consultants who have been doing network marketing for more than a decade.

When I do get invitations like the ones I mentioned above, I do some research. Thank God for the internet! Information is just a click away.

People join network marketing companies for a variety of reasons. Some do it for the money, others do it because they want to help, others because they just want to buy the products at a discounted rate.

There are many write-ups written about network marketing. There are books, articles, opinion pages and even studies that have been made for and against the subject. I recently found out that my Alma Mater has a course on it.If you want to learn about the subject, I suggest you can read the articles on the Internet or buy books both for and against it so you can form your own opinion about the matter.

Most who are into network marketing will say that it has changed their life. They flaunt the fruits of their labor - mostly expensive cars and new homes. Some take and post pictures of the vacations they have taken and the countries that they have gone to.

Network marketers use the products they sell. They tell others that they are primary users themselves. They give testimonials on how their health has improved or how they have become more beautiful because of the products. I have personally tried the products myself just to test their claims. The results have been mixed. When I tell them about the results, they usually tell me that I have to be a regular user for the products to be truly effective.

I also ask about the company and its track record. They usually tell me how big the company is and who owns the company. When I do get these information, I just go online look for and verify their claims. I have found out that some the claims about the company's history are dubious. All you need is to type some key words in Google to know the entire history of an MLM company.

While some MLM companies offer real products, some of their claims are highly exaggerated. They will present studies, journals and papers supporting their claim. Some of these written materials are authentic. These companies paid for their own researchers to back up their claims.

But I have also found out that other products in the market also have the same effects. They are, however, more affordable.These products are being sold in traditional retail outlets. They are priced much lower because they don't have the burden of shoulder for the commissions and other perks established by MLM companies.

Network marketers will also impress you with the number of members in the system. They will tell you who are the prominent members and where they have already expanded. While this may sound impressive, I would like to find out how much an average member is earning. We must take away the outliers who are the top 10 earners and bottom top ten and just get the median.

They will also tell prospects that opportunity comes only ones to convince them to immediately sign-up and invest in the system. i personally would rather make my own opportunities.

As the baby boomers age, you will see more and more networking companies selling health and wellness products. The baby boomers or the graying population are the primary target of these companies. Members are told to actively promote and sell the products these people.

One thing I would like to give credit to these companies their ability to train people. The training is so good that people are willing to go outside of their comfort zones to be able to achieve their dreams. Although I know many who still fall short.

While I don't condemn the system, I personally believe that network marketing is not for me. It is not my forte. I would rather put-up a traditional business that employs people and grow it from the ground up. While network marketing can provide people with unlimited income potential, just like any other business, you also have to work hard for it. But in the end, it is the company or your upline who will benefit the most. If you are not sure about the company or the system, I suggest you read and research first.

Business Courtship

2012-01-04T01:34:00.000-08:00

Doing business is like courtship. You must be able to find the right partner in order for your business to grow. Finding the right partner is often the difference between a successful venture or being part of the 95% of businesses that fail in the first few years.

Let me illustrate...

In courtship there are several levels, the first level is the getting to know you phase. Once they see that they are compatible with each other, then comes the second stage; the exclusivity stage. They don't see nor go out with other people. Then after awhile, the engagement stage. This is the stage where they plan to take their relationship to the next level. Lastly, the final stage or marriage.

Thank you to http://www.lightinthebox.com/

Now, let us apply this to the business world.

Stage 1. Getting to know you phase.

Entrepreneurs love to share their ideas. They love talking about the things they want to do and plan to do, hence, they have the capability to convince others to join their cause. Entrepreneurs are usually gifted communicators.

During this phase, entrepreneurs meet and talk to a lot of people. These people either buy in to the idea or not. Those who buy in, talk to the entrepreneur and discuss the possible scenarios. The entrepreneur and prospective partner try to feel each other out. They find out whether a possible working relationship will prosper or not. This is where entrepreneurs find investors or other partners to help him grow his business.

Stage 2. Exclusively dating.

The moment that they see that they can have a pretty harmonious working relationship, they begin to work on and improve the business. They talk about how they will realize the business. Other ideas or proposals may be coming in, but they just focus on making the business come true. Others are just a distraction.

They are laying the foundation of the business on this stage of the courtship.

Stage 3. Engagement.

During this part of the courtship process, both the entrepreneurs and the partner are laying the groundwork of the business. They get the necessary documentation and permits, they make sure that operations will run smoothly as possible. This can either be long engagement or a short-one. If the business, marketing and financial plans have been made on Stage 2, this will be a short engagement.

Stage 4. Marriage.

This is where the tire hits the road, so to speak. The entrepreneur and the partner finally start the business. They hire the people who believe in their cause (their children) and work towards the goals that they have agreed upon. But just like a real marriage, a business partnership will also experience rocky and tumultuous moments. Yet, there will also be victories and triumphs!

The key to maintaining a good business relationship, just like in marriage, is mutual respect. Understand that each individual is unique. Staying true to the vision and mission will be the key to a long, lasting and successful partnership.

Will You Be My Partner?

2012-01-02T03:49:00.000-08:00

People think that one of the main issues with entrepreneurs is that they love to do things on their own. They believe that these mottoes apply to entrepreneurs:

If you want something done right, you do it yourself, and
Too many cooks spoil the broth

This is why our idea of an entrepreneur is someone who has graying or thinning hair, always stressed out and always on the go. To some extent that is true. Entrepreneurs love to take charge. Entrepreneurs always point the direction where they want the company to go. They create the vision.

However, we seldom see that entrepreneurs also have partners whom they can rely on and trust. Entrepreneurs know their weaknesses and their limitations. They seek people who can back them up. They seek individuals who can provide the expertise that they don't have.

How do they do this? An entrepreneur's mind works differently. In my previous blog, I mentioned that entrepreneurs are people or persons who add value to something. It is natural for them to seek out people who can strengthen them and provide them the needed lift to get to their vision.

Thanks to http://www.vibrationalenergyhealingcenter.com/

You can see this at work in newly built corporations and partnerships. Two or more people get together, form a company and achieve its goals collectively. One is handling sales, another handles marketing, one person handling finance and so on and so forth. There are no two partners doing the same thing, otherwise chaos would ensue. There will be a clash of ideas and egos.

In GreenRides, my partner and I have agreed to take on certain roles. She is primarily handling the admin and finance side and I am handling business development and product expansion. Although we both handle marketing, we have agreed to debate, consult and support one another. There may be shouting matches at times regarding some ideas we want to try and implement, in the end, we always know and have agreed that we just want the company to expand and grow.

For those things that we don't know anything about, we have agreed that it would be best to outsource certain tasks. Once we decided to do this, we can focus on what we are good at.

For those who want to venture on their own, I suggest you seek a partner that will complement and complete your skills. If you decide to make on your own, the probability of failure is much larger. Even Donald Trump had some help in constructing his famous buildings!

Entrepreneurial Mindset

2011-12-31T19:32:00.000-08:00

Today is the first day of the year, and my first blog post for 2012. Bear with me as I write something about entrepreneurship.

I had a very interesting discussion with one of friends regarding what it takes to be an entrepreneur. He asked me if I can define in one simple sentence how an entrepreneur thinks or acts or what essentially drives him. The reason he asked that question is because most companies, especially start-ups are now looking for someone with an entrepreneurial mindset to join their companies.

Thanks to www.mergersandinquisitions.com

It was a very good question and I almost got stumped. I had to look back and remember the interviews I did with entrepreneurs and business-owners. Then it dawned on me; 'entrepreneurs are people who add value.'

It really doesn't matter if you own your business or you are just an employee. An entrepreneur is essentially someone who adds value where there were little or no value at all. Entrepreneurs create opportunities that every problem presents. Entrepreneurs grab opportunities that every situation presents.

When someone adds value to a certain thing, that thing (whatever it is) becomes more precious. Let me illustrate; automobiles were existing decades before Henry Ford made the Model T. However, he had this vision. He wanted automobiles to be affordable enough so that every American will buy it.

Automobiles were hand-made. Each technician or worker spends several hours a day making one vehicle. This is why, vehicles were only for the rich and those who can afford it.

Henry Ford's vision drove him to make a system that will churn out his Model T's faster and more efficiently. He created the first assembly line. Not only it became more efficient, the assembly line also made the automobile very affordable!

I can tell you now that 99.9% of factories are using the assembly line that Henry Ford instituted.

Employees who add value to the company are highly-valued by their managers and other officers. These employees are the ones who get promoted easily and get regular pay raises. An employee with an entrepreneurial mindset is highly-priced.

I will be discussing the entrepreneurial mindset in detail in my following blogs. I will continue with my experiences first and the lessons I have learned. I hope that by doing this, I am adding value to you, my subscribers. I look forward to sharing my experiences again!

Happy New Year!