Have you ever noticed that the chickens we eat nowadays often give you an allergic sting one way or another. The company -Health Options is diversifying into the organic food sector to meet this crucial need for healthier food. My other blog also reiterates the same principles that this article is saying. Pinoy Business Coach realizes the potential of your dreams and aspirations to be a source of a worthwhile business.
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Showing posts with label Business process. Show all posts
Showing posts with label Business process. Show all posts
Returning OFWs are indeed a boon to the country if they succeed in starting and growing their businesses. Here is an excellent article that can aid budding start-up entrepreneurs in growing their enterprise. Landbank usually gives out these kinds of loans to OFWs on a per project basis. If you have any relatives or friends who just came back, then this site can help them.
By MYLA IGLESIAS
The third leading TV network, ABC Broadcasting Corp., expects to generate P3 billion in revenues this year, driven by higher ratings of its programs and revenues from newly launched shows.
"We are over P800 million in revenues for last year. We are expecting to hit P3 billion," Ray Espinosa, MediaQuest Holding Co. director and ABC president, said at the sidelines of the Malaya Business Insight 28th anniversary last week.
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A couple of weeks ago, I happened to catch a glimpse of a poster advertising that Chinkee Tan was in town. His seminar and book entitled "Till Debt do you part" was catchy and since the tickets were ridiculously cheap (300 pesos) because it was subsidized by the Victory Church, I decided to attend and see what good advice he had to offer.
The seminar venue was quite filled and the speaker started round 1 with a good mixture of jokes, power point slides and a large dose of actual experience. Essentially he was teaching the audience to be personally responsible for their income and take an active part in managing both income and expenses and not leave retirement to chance.
You might be wondering what this has to do with business. It has everything to do with business. In the same way that we personally manage our income and expenses and invest our savings in several vehicles, be it bonds, equities in stock or time deposits etc. The income of a business also needs to be managed carefully, securing the future of your business or company for that matter.
Many authors like Kiyosaki, smartly teach that business income can be made to BUY ASSETS like real estate or precious metals. But this needs to be done with consultation with good advisers. Financial planning for your company's income will be a hedge against uncertain economic times ahead. Be it a carenderia, a siomai stand or a small lending, plan the income portfolio of business instead of taking fat salaries that end up in the belly of unproductive consumerism. Click Here to Read More...
The seminar venue was quite filled and the speaker started round 1 with a good mixture of jokes, power point slides and a large dose of actual experience. Essentially he was teaching the audience to be personally responsible for their income and take an active part in managing both income and expenses and not leave retirement to chance.
You might be wondering what this has to do with business. It has everything to do with business. In the same way that we personally manage our income and expenses and invest our savings in several vehicles, be it bonds, equities in stock or time deposits etc. The income of a business also needs to be managed carefully, securing the future of your business or company for that matter.
Many authors like Kiyosaki, smartly teach that business income can be made to BUY ASSETS like real estate or precious metals. But this needs to be done with consultation with good advisers. Financial planning for your company's income will be a hedge against uncertain economic times ahead. Be it a carenderia, a siomai stand or a small lending, plan the income portfolio of business instead of taking fat salaries that end up in the belly of unproductive consumerism. Click Here to Read More...
One day, me and my business class members identified 3 essential things that a New Entrepreneur needs to have:
1. The Skill to Sell- in one of my previous articles, I mentioned that Selling is the primary skill that one needs to have to succeed in business. "Nothing happens in a business unless someone sells something." Selling includes profiling your customer and which segment you might want to target for your given product.
2. An Understanding of the Market- this includes knowing who your customers are, who is the competition, what are your advantages over the competition and your key selling points. Understanding the market also includes picking the right product or service to sell. Being a micro entrepreneur, you may want to sell a product or service that already HAS demand. Or in other words, find a SELF-SELLER. If you notice that most of the businesses that our Chinese brethren are under the roof of living 'essentials'--Food, Medicine, Hardware supplies etc., these are all high demand products. It does not mean finding a business with self seller products will guarantee success, all I am saying is that the chances of success increases when there is already high demand for those products that you carry.
3. An Understanding of Financial Statements- Yes, even a carinderia needs a financial statement and needs to keep good records. It is not as difficult as you think, algebra and calculus were more difficult subjects than financial ratios. Income statements, Cash flow statements and Balance sheets are minimum requirements for the Entrepreneur. Click Here to Read More...
1. The Skill to Sell- in one of my previous articles, I mentioned that Selling is the primary skill that one needs to have to succeed in business. "Nothing happens in a business unless someone sells something." Selling includes profiling your customer and which segment you might want to target for your given product.
2. An Understanding of the Market- this includes knowing who your customers are, who is the competition, what are your advantages over the competition and your key selling points. Understanding the market also includes picking the right product or service to sell. Being a micro entrepreneur, you may want to sell a product or service that already HAS demand. Or in other words, find a SELF-SELLER. If you notice that most of the businesses that our Chinese brethren are under the roof of living 'essentials'--Food, Medicine, Hardware supplies etc., these are all high demand products. It does not mean finding a business with self seller products will guarantee success, all I am saying is that the chances of success increases when there is already high demand for those products that you carry.
3. An Understanding of Financial Statements- Yes, even a carinderia needs a financial statement and needs to keep good records. It is not as difficult as you think, algebra and calculus were more difficult subjects than financial ratios. Income statements, Cash flow statements and Balance sheets are minimum requirements for the Entrepreneur. Click Here to Read More...
By Darwin G. Amojelar, Senior Reporter, MANILA TIMES
A FILIPINO household has to earn close to half a million pesos this year to remain in the middleclass, according to the National Statistical Coordinating Board (NSCB).Romulo Virola, NSCB secretary-general, said the country’s middle class is likely to have shrunk in light of the global financial crisis.
“In 2006, the middle income class may be defined as those families with annual income ranging from P246,109 to P2,000,072. However, in 2008, a family needed an income that ranged from P276,626 to P2,251,551 to be considered middle class. And in 2009, you would need to earn close to half a million pesos to be in the middle class,” the NSCB official said, citing the results of the agency’s update of an earlier study on the matter.
The NSCB said the middle-income class included families that own refrigerators, radios, and a house and lot, and with houses that have strong roof materials.
“The Pinoy middle class remains vulnerable and has continued to shrink. And that is prior to the global crisis,” Virola said.
He said the middle class shrank from 19.9 percent of the population in 2003 to 19.1 percent in 2006. However, this pace of collapse was not as sharp as that between 2000 and 2003, when the middle class fell from 23 percent to 22.7 percent.
The NSCB official said the middle class must expand, as it is generally believed to be the driver of “development” and “economic growth.”
In the first quarter of the year, the economy as measured by the country’s gross domestic product (GDP) grew by only 0.4 percent, a sharp fall from 3.9 percent in the same period last year.
Virola said savings and investments of the middle class posted percentage increases between 2003 and 2006.
Between 2000 and 2006, the use of telephones and cell phones among the middle class almost doubled from 51 percent to 95.3 percent, while computer ownership jumped from 10.6 percent to 28.5 percent.
The NSCB said the top four expenditure items among the middle class and the general population were the same in 2003 and 2006: food; house rental; transportation and communication; and fuel, light and water.
Among the least priority expenditures of the middle class and the general population are non-durable furnishings, which include utensils and household linen; alcoholic beverage; house repair and maintenance; and recreation.
“Tobacco and taxes complete the bottom five expenditure items for the middle class and the general population. As we have said in the past, tobacco is no longer the good business it used to be and we have not been paying taxes to our government,” Virola said.
In December, the NSCB released a report that showed the country’s middle class was collapsing.
For its update to this report, the agency said it used inflation data to come up with new estimates of the income boundaries of the middle class.
"The way of the Entrepreneur will prevent the middle class from shrinking, if you start now, time will be on your side." Click Here to Read More...
A FILIPINO household has to earn close to half a million pesos this year to remain in the middleclass, according to the National Statistical Coordinating Board (NSCB).Romulo Virola, NSCB secretary-general, said the country’s middle class is likely to have shrunk in light of the global financial crisis.
“In 2006, the middle income class may be defined as those families with annual income ranging from P246,109 to P2,000,072. However, in 2008, a family needed an income that ranged from P276,626 to P2,251,551 to be considered middle class. And in 2009, you would need to earn close to half a million pesos to be in the middle class,” the NSCB official said, citing the results of the agency’s update of an earlier study on the matter.
The NSCB said the middle-income class included families that own refrigerators, radios, and a house and lot, and with houses that have strong roof materials.
“The Pinoy middle class remains vulnerable and has continued to shrink. And that is prior to the global crisis,” Virola said.
He said the middle class shrank from 19.9 percent of the population in 2003 to 19.1 percent in 2006. However, this pace of collapse was not as sharp as that between 2000 and 2003, when the middle class fell from 23 percent to 22.7 percent.
The NSCB official said the middle class must expand, as it is generally believed to be the driver of “development” and “economic growth.”
In the first quarter of the year, the economy as measured by the country’s gross domestic product (GDP) grew by only 0.4 percent, a sharp fall from 3.9 percent in the same period last year.
Virola said savings and investments of the middle class posted percentage increases between 2003 and 2006.
Between 2000 and 2006, the use of telephones and cell phones among the middle class almost doubled from 51 percent to 95.3 percent, while computer ownership jumped from 10.6 percent to 28.5 percent.
The NSCB said the top four expenditure items among the middle class and the general population were the same in 2003 and 2006: food; house rental; transportation and communication; and fuel, light and water.
Among the least priority expenditures of the middle class and the general population are non-durable furnishings, which include utensils and household linen; alcoholic beverage; house repair and maintenance; and recreation.
“Tobacco and taxes complete the bottom five expenditure items for the middle class and the general population. As we have said in the past, tobacco is no longer the good business it used to be and we have not been paying taxes to our government,” Virola said.
In December, the NSCB released a report that showed the country’s middle class was collapsing.
For its update to this report, the agency said it used inflation data to come up with new estimates of the income boundaries of the middle class.
"The way of the Entrepreneur will prevent the middle class from shrinking, if you start now, time will be on your side." Click Here to Read More...
Enriching one's business vocabulary can surely make the difference in the life of a new Entrepreneur. As business vocabulary increases, the chances of having a better bottom line also multiplies.
One of the concepts that many of us can try to grasp is the idea of working IN and working ON the business. These two concepts are very simple but they can empower the business person to build a business properly.
Working IN a business means, working on the day to day routine and the basic technicalities that normally run to make the business survive. This includes selling, clerical, accounting, logistics, janitorial etc. The mundane but essential skills that make the business make money in it's day to day operations constitute the WORKING IN the business concept.
Working ON a business on the other hand means focusing on systems that can help the business work without the Entrepreneur being there on a daily basis. It is the creation of systems that can help a business become good to great. It is the implementation of systems that make a Jollibee or a McDonald's restaurant run anywhere in the world using local and young manpower. Working ON the business also includes knowing what Entity you are placing the business IN and the Characteristic of the business as to what asset class in derives it's income from.
To be successful means focusing on the 2 aspects of the business. It is my opinion that 9 out of 10 business start-ups fail because the Working ON part is neglected. While the business owners focus on the everyday tasks of running a business, only few Create a system to make it run without them. Click Here to Read More...
One of the concepts that many of us can try to grasp is the idea of working IN and working ON the business. These two concepts are very simple but they can empower the business person to build a business properly.
Working IN a business means, working on the day to day routine and the basic technicalities that normally run to make the business survive. This includes selling, clerical, accounting, logistics, janitorial etc. The mundane but essential skills that make the business make money in it's day to day operations constitute the WORKING IN the business concept.
Working ON a business on the other hand means focusing on systems that can help the business work without the Entrepreneur being there on a daily basis. It is the creation of systems that can help a business become good to great. It is the implementation of systems that make a Jollibee or a McDonald's restaurant run anywhere in the world using local and young manpower. Working ON the business also includes knowing what Entity you are placing the business IN and the Characteristic of the business as to what asset class in derives it's income from.
To be successful means focusing on the 2 aspects of the business. It is my opinion that 9 out of 10 business start-ups fail because the Working ON part is neglected. While the business owners focus on the everyday tasks of running a business, only few Create a system to make it run without them. Click Here to Read More...
Over the last few weeks, I have been thinking about business plans and how they relate to the success rate of a start-up business. It seems that most of our countrymen think that is the lack of capital that is plaguing one from starting his or her own entrepreneurial venture. What a tragedy!
A business plan need not be complicated. The 'how to do' part of the business plan cannot be covered in this little article, but as soon as one is interested to scout for resources about this subject, one would discover that there is a wealth of knowledge. The creation and the writing of a business plan helps the Entrepreneur 'think through' the nitty gritty process of the business, see opportunities, risks, profitability which can be very helpful in planning, strategizing to manage risks.
A business plan proves that it is the process that makes one rich and not money. Writing a good business plan takes time and practice. You may want to seek a mentor that can help you out in writing the ultimate business plan that others would want to read and invest in. Click Here to Read More...
A business plan need not be complicated. The 'how to do' part of the business plan cannot be covered in this little article, but as soon as one is interested to scout for resources about this subject, one would discover that there is a wealth of knowledge. The creation and the writing of a business plan helps the Entrepreneur 'think through' the nitty gritty process of the business, see opportunities, risks, profitability which can be very helpful in planning, strategizing to manage risks.
A business plan proves that it is the process that makes one rich and not money. Writing a good business plan takes time and practice. You may want to seek a mentor that can help you out in writing the ultimate business plan that others would want to read and invest in. Click Here to Read More...
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