EVERYBODY dreams of making it big in his own business, but does everybody have what it takes to be an entrepreneur?
Question worthy of a highly paid professor’s two-full-hour lecture in the country’s best business schools. Personally, I think the better question is: do you have what it takes?
A little-known book called “Dreamers, Doers, Risktakers” published by the UP Institute of Small-Scale Industries tells of persons from all parts of the wealth spectrum — from rags-to-riches dreamers to wealthy doers — and how they made their dreams come to fruition.
Different backgrounds, different training. Different personalities. A more popular book, “Go Negosyo,” shows the same thing. What’s the entrepreneurial gene that binds them all together? And on top of that gene, what behaviors and market conditions allowed them to build a business that not only made them wealthy, but also allowed them to employ other Filipinos?
This new blog called Open For Business is a testament that Filipinos can be entrepreneurs. We may have to fight against years and years of cultural flaws that keep us from becoming dreamers, doers and risk-takers. We may have to train our minds to embrace and accept ways of thinking that might seem different and strange. We may have to accept that not everyone will eventually strike it big.
But we can try. We can try to prove that entrepreneur is the one in front of the mirror.
So jump in, and join the discussion. Let the idea viruses flow.
Photos courtesy of Entrepreneur Bootcamp for Kids
September 9th, 2007 at 7:41 pm
it is for the bravest of heart!!! and, the world is full of that right now!!
September 9th, 2007 at 6:51 pm
I think the real dilemma is the government’s and govt. controlled companies’ initiative to give away the good businesses & investments to foreign companies since their “lagay” from this companies will be deposited to their foreign banks.
Look at SSS-with a holy budget of $1.0Billion to be invested to foreign companies??? Am I hearing it right??? I’ll put up multiple biodiesel refinaries for each province + at least a minimum of 20,000 hectares for it to be viable - can I borrow these amount from the government since biodiesel is a government initiative?
Look at PNOC-AFI who has so far signed multiple contracts for BOT biodiesel plants from various foreign companies w/c half of them are even not legitimate.
Why do we have to sign it with these guys when in fact we Filipinos can do this by ourselves??? Why can’t I form the companies to go venture for this with the government’s support & money w/c actually came from the people???
September 9th, 2007 at 5:00 pm
Salve you have a 2nd blog about money again? Wow, すごい , congrats! You must be, umm, RICH? hehehe
September 9th, 2007 at 1:37 am
more of Ms Ca T’s entries
salamat kay Ms Ca T for sharing thru her blog to educate us
http://cathcath.com/?p=3003#more-3003
Reasons why small businesses fail Part 2
Posted by Cathy - May 4th, 2007
Dear mouse,
Subtitle of the blog: Why the businesses of Overseas Filipinos and or OFWs fail.
After working abroad, the OFWs/OCWs dream of putting up their own businesses so that they can make their savings last without having to go back abroad. The overseas Filipinos aka permanent residents of foreign countries set up businesses back home to provide employment/sources of revenues for their dependent relatives.
I read somewhere that ninety per cent of these ventures fail. The news did not mention the causes of failure. So here I am enumerating what must be the causes.
1. Lack of experience- Most of the wannabe entrepreneurs are enticed by the relatives to go into a type of business which they think are making money. One of them is internet cafe.
The first time, I made a balikbayan, I went to an internet cafe near our place. The per hour rate was 50 pesos. And I still have to go to Alabang. That time, the internet cafes are not yet dime-a-dozen. The second time I went home, I found many internet cafes closer to where I was temporarily staying. The charge was 30 pesos per hour. There were only 10 units that obviously are home assembled pcs ala Frankenstein. Malaki tipid than buying the finished branded. I thought that the guy knows the business.
A friend here in the US asked me if I know somebody who want to partner with him in the internet cafe that he is buying from a friend who’s also here in the US. First question, I asked was, why is the owner selling?
He said something about misappropriation of funds by the trusted relative who managed the business. He did not say, it is “bloody bleeding” at the bottom. translation: losing.
It was a principle of instead of giving fish, teach them how to fish that made the overseas Filipino financier/owner to set up the internet cafe for his relative in the Philippines.
The relative’s knowledge about computer is only the distinction between a pc mouse and that little rodent that run on the keyboards every night when the lights are out.
He hired someone who he thought was more knowledgeable of the operation. Ito ang sinasabing, pinagkatiwala sa pusa, ang pusa naman pinagkatiwala sa daga.
The projected payback is one year. hohoho.
People mistake payback from recovering back the investment. Malaki ang difference kagaya ng difference between divorce and annulment na sinabi ng senatoriable Richard Gomez, walang pinagkaiba kung hindi spelling. hohoho.
Sandali bakit tayo napunta sa divorce.
In paybak computation, you make use of the net profit from the project, NET PROFIT mga ineng at mga totoy. Ibig sabihin pagkatapos alisin ang mga gastos sa mga natanggap ng kaperahan. Most people use the gross receipts.
Tipong kagaya ng internet cafe napapawow sila pag kinompute sa kanila na sa 10 units at sa 30 pesos per hour, at 12 hours operation, ang investment daw ay marerecover after 5 months.
hohoho .Oo nga naman pag ang computation ay ganito at ang assumption ay full capacity.
30 x10 unitsX 12 hoursx24 days a month= 86,400 pesoses
Kung ang capital ay 400,000 para sa sampung units, limang buwan nga naman ay kuha na ang investment at ang mga susunod na taon ay panay na profit. MALI.
Bakit mali?
1. The assumption is one hundred per cent capacity utilization. Ibig sabihin ang lahat ng computer ay gamit oras-oras, araw araw, gabi-gabi. Oops may kanta niyan. In the real world, kailangang may agimat kang katulad ng aking lola na pinapahiran ng bawang…. oooops ano ba ang pinagsasabi ko para unang buwan pa lang ay pinupupog ka na ng mga customers.
2. After deducting expenses, cash expenses/disbursements the net would be what’s left for you to roll over to the next month’s operation. Is there enough to pay the monthly amortization from the cash advances that you get from your credit card or bank?
3. How much is the roi per month? Is it more than the interest rate of the cash advance or bank loan?
If you are making an roi lower than the interest rate, magdasal ka na ng paluhod sa St. Jude, the saint of desperate causes.
Some people think that the money that rings the register in is already the income, No honey, because cash registers also ring out not to mention the checks that are used to pay other expenses.
These are but cash matters. There are problems of dsl connections, power outage, pilferage and potential competitors before recovering the investments. Alam mo naman ang mga Pinoy, may sari-sari store mentality where in one street, there may be one store for every two households. Dito sa States, may mga regulations sa county or city where a business of the same nature may not be allowed within a certain radius where there is already one of the same type.
So going back to this friend of mine, I said no way. I heard from some friends back there, that there are price wars going on among internet cafes to get more customers.
Itutuloy
The Ca t
Why small businesses fail part 1
business planROI,payback
Dear mouse,
First ahem, this is the 3,002th blog entry of this website.
Second, this is the continuation of the discussion of causes of failure of businesses put up by OFW/OF.
2. Poor inventory management
This pertains to businesses that stock inventories. Even service businesses like restaurants, beauty parlors and motor shops carry inventories of supplies.
They say that restaurants or anything about food is “tubong lugaw”. OO nga lugaw ang kakainin ninyo oras na bumagsak ang negosyo because of poor inventory management.
Alam ninyo ba kung may nagsashopping ng mga dressed chicken,mga kamatis, bawang at spices sainyong restaurant? Paano? Eh hindi naman puwdeng ilagay ito sa bag o sa bulsa ng mga empleyado ng restaurant?
Eh di inilalagay nila sa basura. Ekkk. Basura ba ikanyo. Hindi ba ninyo ako narinig. OO ah. Binabalot nila ng makapal ng maraming plastic at inilalagay sa trash bin. Pag inilabas na ang malaking basurahan, nag-aabang na ang kakutsaba para isalba ang mga kawawang chicken para hindi makolekta ng basura. Tapos pinagbibili nila ito sa mga maliliit na restaurant o kaya ay sa mga nagtitinda sa palengke ng mga tingi, kagaya ng paa lang, o kaya, pakpak lang. Sinong lugi, di yong ma-ari ng restaurant.
Ang mga supplies naman ng beauty parlor ay paboritong kurakutin ng mga beauticians. Naalala ko ang usapan sa telepono noong kakilala ko at ang kapatid niya na nagtatrabaho sa beauty parlor.
Oy ache, wala na pala akong acetone. Pauwi nga. Saka nga pala, hiramin mo muna yong kulay pula diyang nail polish at magpapamanicure ako saiyo. O divas. Para bang beauty supply store ng kawawang beauty parlor kung saan kumikita ang kaniyang kapatid.
At hindi lang sa maliit na negosyo yan ha. Sa grocery na pinupuntahan ko rito, dalawang beses ko nang nakita ang empleyadong lalaki na kumukuha ng mga prutas at padisamulang hinuhulog ito sa kaniyang dala-dalang cart na puno ng mga sirang gulay. Hindi naman sira ang mga kinukuha niya.
Nang Biyernes, napansin ko na isinara na yong isang exit papunta sa likod ng grocery. Palagay ko maraming nawawala kaya naghihigpit sila. Kung gagawin nila akong consultant, tuturuan ko sila kung paano nagagawa ng mga empleyado, mga customers ang pagnanakaw at kung paano ito maiiwasan.
Isa sa mga karanasan ko pagiging auditor ang paghuli kung paano nailalabas ang mga libro ng buo mula sa publishing company na aking inuaudit. May mga babaeng security guards ang nagchecheck sa mga empleyadong babae kaya hindi puwedeng maglabas ng isang libro.
Tanungin ninyo ako kung paano. Sige na. Sige na. Sus, ayaw mo di huwag.
Hindi buo nilalabas. Chapter by chapter lang. Tapos binubuo nila pag nakumpleto na. Nakatiwangwang lang naman kasi ang mga tapos nang naimprinta dahil ang isip ng management, sino naman ang magkakainteres sa librong hindi naman kumpleto. Saan kanyo ipinagbibili? Doon sa Recto. Sa mga used books. Murang mura, kasi wala naman silang capital kung hindi tapang ng apog at kapal ng kunsensiya.
Itutuloy
The Ca t
inventory management,Small businesses
September 9th, 2007 at 1:31 am
copied from Ms Ca T’s blog, very informative analysis from a person with Experience
http://cathcath.com/?cat=54#038;paged=1
Why small businesses fail Part 3
Posted by Cathy - May 7th, 2007
Dear mouse,
First ahem, this is the 3,002th blog entry of this website.
Second, this is the continuation of the discussion of causes of failure of businesses put up by OFW/OF.
2. Poor inventory management
This pertains to businesses that stock inventories. Even service businesses like restaurants, beauty parlors and motor shops carry inventories of supplies.
They say that restaurants or anything about food is “tubong lugaw”. OO nga lugaw ang kakainin ninyo oras na bumagsak ang negosyo because of poor inventory management.
Alam ninyo ba kung may nagsashopping ng mga dressed chicken,mga kamatis, bawang at spices sainyong restaurant? Paano? Eh hindi naman puwdeng ilagay ito sa bag o sa bulsa ng mga empleyado ng restaurant?
Read More »
Posted in Business and Money - 2 Comments »
Reasons why small businesses fail Part 2
Posted by Cathy - May 4th, 2007
Dear mouse,
Subtitle of the blog: Why the businesses of Overseas Filipinos and or OFWs fail.
After working abroad, the OFWs/OCWs dream of putting up their own businesses so that they can make their savings last without having to go back abroad. The overseas Filipinos aka permanent residents of foreign countries set up businesses back home to provide employment/sources of revenues for their dependent relatives.
I read somewhere that ninety per cent of these ventures fail. The news did not mention the causes of failure. So here I am enumerating what must be the causes.
1. Lack of experience- Most of the wannabe entrepreneurs are enticed by the relatives to go into a type of business which they think are making money. One of them is internet cafe.
The first time, I made a balikbayan, I went to an internet cafe near our place. The per hour rate was 50 pesos. And I still have to go to Alabang. That time, the internet cafes are not yet dime-a-dozen. The second time I went home, I found many internet cafes closer to where I was temporarily staying. The charge was 30 pesos per hour. There were only 10 units that obviously are home assembled pcs ala Frankenstein. Malaki tipid than buying the finished branded. I thought that the guy knows the business.
A friend here in the US asked me if I know somebody who want to partner with him in the internet cafe that he is buying from a friend who’s also here in the US. First question, I asked was, why is the owner selling?
He said something about misappropriation of funds by the trusted relative who managed the business. He did not say, it is “bloody bleeding” at the bottom. translation: losing.
It was a principle of instead of giving fish, teach them how to fish that made the overseas Filipino financier/owner to set up the internet cafe for his relative in the Philippines.
The relative’s knowledge about computer is only the distinction between a pc mouse and that little rodent that run on the keyboards every night when the lights are out.
Read More »