Pinoy Business Coach

I recently bumped into a friend who is an owner of a medium-sized business in Cebu City and who is very inspired by the story of young Billionaire- Mr. Mang Inasal.  He indicated to me that he wanted to grow his business so that it could be a sensation someday.

"Are you willing to do what he did?". I asked.

"Very much, the guy is just 30 or something, yet he is very successful!",  was his quick reply.

"Then you must be willing to pay the brightest minds to help you get there!", was my response.

He paused in silence, not sure of what I meant.

"You must hire consultants, professionals to help you grow your manufacturing business.", I quickly added.

"But that would cost money!" was his dismayed reply.

Enter the concept of Expenses.  Robert Kiyosaki in his smash hit book "Cashflow Quadrant" explains that there are 2 kinds of expenses.  A good expense and a bad expense.

Simply put, an expense is considered good if it puts money into your pocket while is bad if it takes money out of your pocket.  In business it means that whatever helps your company move economically up, through trainings, consultations, technology transfer and the cost thereof is GOOD.  If it does not make the business competitive and does not improve the bottom line then that expense is considered, BAD.

Most SMEs do not want to go into the realm of training and explore consultants since it takes funds to get these kind of services, not knowing that it is the same factor that will also pull their businesses out of their comfort zones and into the limelight.

Most people think the Mr. Injap did it on his own, but I beg to argue, he surrounded himself with consultants from the Philippine Franchising Association and also private entities like Marketing Groups etc.  Even if you notice the interior of Mang Inasal's stores are artistically designed and I am sure a consultant was hired to do that and multiply that into 200 stores or so.  From the logo and the colors, I am sure that an Advertising company was hired. You get the drift.

We don't have to do all things on our own, there are professionals that can do it for us, faster and exponentially better.  Mang Inasal's story is truly remarkable and is a testament that business and investing is a TEAM SPORT. And placing budgets into professionals to boost the business is not a bad idea afterall.