Saving Painlessly…More Tips for Surviving the Crisis August 29, 2008
Posted by mona in : Uncategorized , 1 comment so farTo continue about saving tips…
Avoid buying in bulk - There are people who say you can save a lot if you buy in bulk. It’s probably true if you’re buying stocks for your convenience store. Unless you have a dozen kids, buying six bottles of shampoo just because it’s on sale doesn’t make it practical for a family of four. You’ll end up spending “a lot for a few varitey of items” and it leaves little leeway to buy everything else that you need.
Avoid eating out - Try scheduling that trip to the grocery after you’ve eaten lunch at home. The money we spend when eating out can actually equate to the family’s entire meal budget for the whole day.
Watts what you buy - Conserve electricity at all times. Don’t use the airconditioning during cool months. Unplug all the appliances that are not being used. A TV or a stereo left on standby mode actually consumes electricity. Switch from incandescent to energy saving bulbs. Check out the energy efficiency ratings of the appliances that you buy.
Take advantage of loyalty point cards and coupons - It doesn’t hurt to have your card swiped everytime you make a purchase in the grocery or load up fuel. Accumulated points can be used to purchase something to reward yourself with or to take off a chunk from your next bill.
Don’t forget your freebies and rebates - You see a lot of flyers together with your credit card bills. Take time out to read them. Sometimes, you can get a free meal just by showing a particular restaurant your card and receipts of your purchases from other establishments. Make sure that you use them up before they expire. There are, however, promos that are just really way overboard. Is ir really practical to spend a thousand bucks just to get a free scoop of ice cream?!!
Cut the cards - Cut the credit cards that you don’t use. If you don’t, you’ll just be wasting money for another year of annual fees.
Avoid late payments for your credit cards - They charge a loooooooooot for late payments!
Read up before you buy - It is always best to read up on a gadget’s features and product reviews. Sometimes the hottest gadgets outin the market have a lot of features that you don’t really need. You might end up paying more and getting less. Or paying more for things you don’t have much use for…In the end, you almost always end up paying more…you just have to make sure you get your money’s worth…
– I’ll try to think up of more tips. But it would help if you’d help me do the thinking…How do you save? –
Saving Painlessly…Tips for Surviving the Crisis August 29, 2008
Posted by mona in : Personal, saving , 1 comment so farWe need to save. For whatever reason, whether we plan to go on a trip or put up a new business or expand an existing one or to invest in whatever, it is always best to have money that we can pull off on call…
Here are some tips for you to save up painlessly:
Walk the short distance - With the continuous rise in the price of gasoline, if you can walk the distance, avoid using the car to go to a nearby establishment or to a neighbor’s house. Walking is in fact a very good way to exercise. You not only save up money, but you also also shed those extra pounds without having to pay for the gym.
Dive into the Car Pool or Commute - With a lot of people to pitch in for gas, you can save money if you just join a car pool to work. You can also use public transportation to get you around. This will save you not only gas money but parking and toll fees as well. Plus, commuting saves you time for looking around for a free slot in the parking area.
Schedule your trips logically - If you really have to take the car with you, better make a real good schedule of all the things that you need to accomplish. It is always best to schedule meetings in the same locale one after the other so as not to waste too much time and money by going back and forth.
Maximize the Internet or Phone Banking - Need to pay your bills? Need to transfer funds? Try to save yourself another trip to the bank by using the online or phone banking services that your bank is offering. All you need to do is enroll your account. It won’t even cost you anything.
Recycle - If you try to compute how much money we waste every time we throw away something we think we don’t need anymore, that’s gonna come up to a whole lot of bucks. Try setting up a garage sale or selling them to junk shops or recycling plants.
Stick to a budget - This is the most basic rule in saving. Sadly, this is the one that we almost always, intentionally or unintentionally, forget to follow. Make separate budget lists for expenses like the household, the office, general repairs, shopping, travel, etc.
Keep separate accounts - Keep a separate account for your saving and spending money. You need to do this so that you’ll always have a clear picture of what you have. If it’s all lumped up in one account, with our sudden attacks of the “urge to splurge,” we may overdraw and find ourselves surprised at the end of the month with the little that’s left. If by some wild chance you’ve got money left in your spending money, transfer it immediately to your “savings” account. It is also important to remember to never, ever dip your finger into your “savings” account. Try investing it in an instrument that would make it earn more interest like a time deposit.
Take advantage of off-season sales - If you want to stay away from temptation, AVOID THE MALLS…specially when they have a SALE! Oh well, there are “sales” and there are “SALES”! Make sure you buy only the things that you NEED. However, as all mall rats are, the more “50% DISCOUNT” signs we see, the more that we have a tendency to “make absolutely everything a need.” Hahaha! Oh but, there are ways to really benefit from these sales. One is to take advantage of off-season sales. You can buy that sexy swimsuit in December or stock up on jackets in the peak of summer. and get whopping discounts.
– more tips to follow…till next time.. bye! ;) –
Braindrain in the Philippines - Are All OFWs Real Heroes? August 28, 2008
Posted by mona in : Uncategorized , 3commentsIt’s all over the news again. The Philippines is losing its professionals to high paying jobs and opportunities abroad. BRAIN DRAIN!!!
According to ABS-CBN News Online :
The Professional Regulatory Commission (PRC) on Wednesday warned that an agreement enabling the free flow of professionals among member countries of the Association of Southeast Asian Nations (ASEAN) would further deplete the Philippines of licensed professionals if left uncontrolled.
Once this agreement comes into being, what’s next for the Philippines?
A lot of public hospitals, aside from being ill-equipped, don’t have enough (if they have any at all!) doctors and nurses. Some health centers, specially in the far-flung provinces, are being shut down because of this. Some of the countries medical practitioners, specifically doctors, are taking up nursing courses just to qualify for jobs abroad. There is also a great void in the public school system as more and more of our teachers are going for offers abroad as caregivers or domestic helpers.
More and more Filipino, professionals and skilled workers are opting to work abroad as “an answer to the call of the times”. With an estimated 24.5 million Filipinos living below the $1.35 per day Asian Poverty Line (Source: ABS-CBN News Online), this agreement is like an answer to their prayers. Now, who could resist the temptation of earning more to improve the life of his family?
House Bill 4580 was filed by Negros Occidental Rep. Ignacio “Iggy” Arroyo (PGMA’s brother-in-law aka Jose Pidal) requiring professionals to perform a two-year stint in the country before going abroad. Of course, this was met by a lot of opposition from the licensed professionals themselves which prompted Rep. Arroyo to withdraw his proposal.
This is a double-bladed issue that I feel should be taken very seriously.
Overseas Filipino Workers are often refered to as “living heroes”. They sacrifice being separated from their families to work abroad, sometimes even being abused by employers, with the purpose of improving their families’ lives here. With their dollar remittances, the government says they have greatly improved the state of our economy (or so that’s what the government says!).
In a country where you see:
- nurses paying the hospitals (instead of the other way around) to get the required work experience and training to qualify abroad;
- public school teachers who are being paid so low that they can’t even afford good education for their own children;
- a whole lot of graft and corruption and government kickbacks being done right smack in front of your face;
- families being pushed further and further down the poverty line,
how can one really give back something to the country with very little opportunity for advancement? Opportunities here are so limited that they now come with a price - either you pay for them or you better know someone who could shift his weight around to give you the job that you want. Go ask the nurses, the teachers and the engineers. They know.
What choices can the Philippines offer its citizens to make them want to stay and serve his fellowmen? Can the government guarantee a life away from poverty if one chooses to stay and work here?
So, in comes the deeper, more “patriotic” issue of GIVING BACK TO THE COUNTRY.
Whose needs should one serve first - the country’s or his own? Who needs to give back first?
A lot of my friends who have gone abroad to work told me “Uuwi lang kami kapag okay na ang sitwasyon sa Pilipinas.” (They will only come back once the situation in the Philippines has stabilized.)
So, does that mean that we, the non-hero professionals who choose to stay, are left to fix things and battle it out here so that when everything is “okay and stabilized” they will be met with a hero’s welcome and a ticker tape parade?
Could it be that the role of the OFWs has been greatly romanticized by some politicians by declaring them “heroes?”
Are dollar remittances enough to say that one has done enough to show love for his own country?
I know that the times call for realistic solutions. But, see, what would happen to the Philippines if:
- more and more Filipinos die due to lack of qualified medical professionals to man the hospitals and the health centers?
- more and more Filipinos children will end up uneducated in the streets because of the lack of good teachers?
- all the good architects and engineers fly off to build roads and bridges aborad while his fellowmen in the remote areas have to walk miles on footpaths?
Would the situation here really be “okay and stabilized” if the only solution we can ever come up with to remedy the sorry state of our country is to run away from here and work elsewhere?
And what does an “okay and stabilized situation” really mean in the first place? Does having a car a house, nice furniture, the latest Plasma TV, the latest cellphones and the latest Magic Sing videoke microphone enough to say everything’s okay and stabilized? Shouldn’t we all be thinking of how things will be in the long run? Isn’t it that OFWs come home and leave again simply because there are still no opportunities for them here? Will there ever be opportunites here if everybody else seem to be leaving?
I know I might sound too sickeningly idealistic for some people. But then, again, as they say, it is more difficult to do what is truly right. I know leaving your family and friends to work abroad is tough. But I guess, in order for the Philippines to move forward, we need more than just the dollars. We need to have good qualified professionals as well. This country needs its citizens to invest more than just their hard-earned money, but moreso, their time and talent.
Innovation and Creativity in Business August 26, 2008
Posted by mona in : Uncategorized , 3comments
In the olden days (read as once upon my Jurassic lifetime), back when snail mail and phones with party lines were the way to communicate, people can stick to a particular trend because it stays for quite some time. But in this day and age, everything is changing lightning-speed fast. So fast, in fact, that what is new technology today can easily be outmoded in an instant due to stiff competition.
Everything changes. And changes mean everything - especially in business. That is the reason why the learning must never end. One has to be very sensitive about these changes in order to react accordingly and keep up. It’s a highly competitive world out there and those who choose to stagnate and milk the cow dry are almost always left far, far behind.
A myriad of driving forces to this change included a vastly increasing marketplace due to globalization, increasing competition, diversity among consumers, and availability to new forms of technology.
In construction alone, new materials are being put up in the market such as pre-fabricated materials, wood substitutes etc. New tools and new processes are being created to speed things up. While these may sometimes cost much more, they are said to be more durable and more cost-effective in the long run as they save on time, labor and cost of upkeep.
The choices are yours to make. What materials do you suggest? What processes do you apply? A lot of questions will pop up. But for a businessperson, the eternal question would always be - What would make things better, easier, faster and still rake in profits?
It’s funny but there is really no one solution for some problems. Most of the time, you will find yourself “customizing” according to clients’ needs. You mix and match. You experiment. You innovate…until you come up with the right one. And this is what makes up a creative learning process in business.
Creativity and innovation are often key to the success of a business, particularly during strategic planning, and when designing new products and services. Creative thinking and innovation are purposely useful during Strategic Planning and in Product and Service Management. These are the two important stages in business management that require comprehensive, conscientious, and critical prudence.
While we can broaden our horizons by taking up MBAs or attending training seminars and trade fairs, sometimes experience alone is good enough a teacher. Trying to keep a “hungry mind” by always asking questions on how to make things easier and better and finding fitting answers through experimentation and innovation are sure fire ways of combating stagnation.
Blame! August 26, 2008
Posted by mona in : Uncategorized , add a commentLately, I’m feeling quite low on my air of positivity. I guess, it’s because a lot of people I come across nowadays can’t seem to stop complaining. And it gets to me. What irks me the most is the blaming part.
We blame the government for just about everything from poverty to a zero medal standing in the Beijing Olympics. (We did get one gold though for wushu :) …but that’s just a demo sport). We blame the competition. We blame the referees. We blame the neighbors. We blame the heat. We blame the rain. We blame everyone else except ourselves.
Why can’t we just focus on our own shortcomings, our own weaknesses and our own limitations and try to improve on them?
Take the case of Filipino politicians. It’s funny how Filipinos can’t seem to accept defeat. They run for public office. They lose. They cry “I WAS CHEATED!” And believe me, it happens, like, 99.99% of the time!!!
No medals for the Philippine Olympiads? Lack of funds, lack of government support, lack of everything. I have yet to hear someone say he’s gonna push himself harder to get the gold in the 2012 Olympics.
I seriously believe that what this country needs is a TOTAL CHARACTER MAKEOVER. We need to stop acting like kids. We need to accept the fact that we are not perfect and we don’t always get what we want. We have to constantly improve ourselves and stop blaming others for our own faults and imperfections.
We have to “mature” as a people in order for us to move ahead globally. The world doesn’t stop to listen to our whining and griping…so let’s stop wasting our energies here and get moving!
No blaming. No excuses this time.
Are Philippine Banks Anti-Entrepreneur? August 25, 2008
Posted by mona in : Business, Personal , 6commentsLet’s face it. The toughest problem when starting a business is the money needed to run it. Although I have suggested in an earlier post several ways to remedy the situation, I notice a lot of people finding it really hard to approach banks for loans. That, of course, does not exclude me.
My friends from the US tell me that even the jobless people there have credit cards and can easily apply for loans. Here in the Philippines, sometimes opening a savings or a checking account or placing money in a time deposit makes you feel like going through a needle’s eye.
Let me share a recent experience.
There’s this one bank that opened near our house so I was thought maybe it would save me a lot of time and gas to just transfer our accounts there. So, I went and inquired.
First up were my children’s savings accounts. I told the new accounts clerk that my kids (ages 9 and 12) will be opening a savings account. So, she rattled off a list of requirements. I was quite prepared for everything except for the 2 VALID IDs. I asked her if the school ID would suffice (as I failed to bring their passports with me). She stressed that the bank requires TWO VALID IDs. Whaaaaaaaaaa? Is she crazy?!!! I really wonder how the banking industry can really promote the value of saving to the Filipino youth with THAT requirement. For one, not all kids have passports. They don’t have driver’s licenses or gun permits or social security or tax account numbers!!! Gosh, they’re just kids! 
Next up were my business accounts. Lo and behold, the new accounts clerk told me that in order for me to open a checking account, I needed to have a savings account with them for at least 6 months with an average daily balance of no less than 50,000 bucks!!! And as a welcoming remark she told me “Ma’am, let me remind you that we charge a lot for bouncing checks.” How warm. How welcoming. Gosh, I felt like a criminal! Grrrrr! @#$#$%#&^%$%^$%#$!!!
And believe me, that happens in MOST banks here. You need to have someone REFER or sort of GUARANTEE for you before you can open an account. So what if you have a really good business that needs funding but you simply lack the “person who will refer or guarantee for you”? Do you simply set that business aside?
It’s tough how sometimes “small-time entrepreneurs” like me are being treated like trash in big banks. I don’t suppose they give the same kind of welcome to their big-time corporate clients. No wonder a lot of people are turning to getting loans from the Indian nationals who charge whopping interest rates!!!
Though there are really scrupulous characters around, heck, what’s the credit investigation for? They don’t even bother to check if you’ve got a good record with credit card companies or if you’ve ever issued a bouncing check in your life. Nope, they don’t do that here. You simply get that rejection upfront - even if you are just inquiring.
Are Philippine banks just for millionaires and for those who have average daily balances of no less than 50grand? Oh well, no wonder more and more Filipinos are at a complete loss when you talk to them about putting money in UITFs or even time deposits. All they ever know of banking is their ATM payroll account that don’t even earn noticeable interests.
I believe there are still a whole lot more of honest individuals who can make a difference in this country’s economy if banks would be more accomodating to small business people (and to kids as well). A lot of potential is being put to waste simply because these people aren’t being given the chance.
System Loss ni Juday August 23, 2008
Posted by mona in : Business, Personal , 1 comment so farI got this by email from a friend. I’d like to share this with you as this issue affects ALL OF US, not just as business people but as private individuals as well.
________________________
Pakibasa po ng malaman nyo gaano ka-corrupt ang government sa electric bill natin!
Bilib ako sa commercial ni Juday, biro mo naipaliwanag niya in 30seconds ang masalimuot na system loss na yan..:)
Tama si Juday sa kanyang paliwanag ng system loss, pero kung tayo ang bibili ng yelo at ayaw talaga nating mabawasan ang yelong binili, syempre magdadala tayo ng styrofoam ice box o Coleman..
Ang tawag diyan ay increasing the efficiency. Kung baga sa mga distribution utilities ayusin nila nang husto ang electrical network, pati na ang mga substation and step-down transformers para nag-o-operate sila sa maximum efficiencies. Kung lumang-luma na, palitan o di kaya imaintenance. Tapos, ireduce, at kung maaari ay alisin, ang mga administrative inefficiencies, tulad ng wrong meter readings, pilferage at kung ano ano pa…
At alam ba ninyo na hindi lang Meralco ang nagpapasa ng system loss?
Pati ang TRANSCO na government owned at siyang nag-me-maintain ng power grid. Balak ipasa or naipasa na ng TRANSCO ang 2.98% ng system loss nya sa Meralco.. at syempre kanino pa ba naman iyan sisingilin ng Meralco?!!
Ngayon alam na natin kung bakit natunaw ang yelong binili ni Juday…pero part pa lamang yan ng equation kung bakit mataas ang singil ng ating koryente.
Kunin ang electric bill.. at heto ang components ng ating electric bill…
Generation charge
Tax on Generation charge
Transmission charge
Tax on Transmission charge
System loss
Tax on System Loss
Distribution, Metering and Supply charges
Lifeline rate subsidies
Tax on distribution, metering and supply charges and lifeline rate
subsidies
Local franchise tax
Universal charges
I-add mo lahat yan at yan ang total electric bill mo… pero napansin nyo ba sa isang electric bill 5 tax ang babayaran natin?
Para lalo nating mapansin, ganito ang flow ng kuryente bago dumating sa bahay naten..
Ang NAPOCOR or IPP ang magpo-produce ng kuryente…bago pa makaalis ng planta ang kuryente, magbabayad na tayo ng tax na 51cents /kwh.
Ang kuryenteng iyan ay padadaanin ngayon sa TRANSCO, papunta sa distribution utility natin gaya ng Meralco.. Muli tayong bubuwisan ng gobyerno, this time 11 cents/kwh
Pag nakarating sa meralco ang kuryente, muli sisingilin tayo ng buwis ng gobyerno, ng distribution tax at franchise tax…
At dahil magbabayad tayo ng system loss muli na naman tayong bubuwisan ng gobyerno… ng system loss tax..
Ah eto pa ang kwela sa lahat, after i total ang iyong electric charges..
papatawan kang muli ng tax.. this time yung 12% e-vat!!!
Imagine 5 Tax na binayaran mo, yung tax na yun eh bubuwisan pang muli ng isa pang tax…
Ang alam ko po sa batas bawal ang double taxation… pero sa ginagawang ito ng gobyerno.. siguro naaayon na sa batas kase lampas na sa double eh (sarcastic lang po).
At upang madagdagan pa ang sama ng loob nating mga filipino… Ang NAPOCOR, ayon sa batas ay kinakailangan mag imbak ng supply ng coal na tatagal ng 5 taon..
Pero ano ginagawa ng NAPOCOR… sasairin nila yung supply nila ng coal upang tumagal lamang ng isang taon. At dahil paubos na, mapipilitan silang mag-conduct ng emergency purchase na di na dadaan sa bidding.. or kung dumaan man, dahil sa ikli ng time table, walang makakapag bid.
SO si NAPOCOR bibili ng coal, hindi sa lowest bidder, kundi sa kanilang preferred supplier.. ang masaya pa neto, ang laki na ng patong.. higit pa sa doble ng actual price ng coal sa market!!!
Idagdag pa dyan ang arkila ng mga barko na gagamitin sa pagta-transport ng coal… na syempre muling pagkakakitaan ng mga NAPOCOR executives.. .
Sobra na nga pinapataw na tax sa atin ninanakawan pa tayo ng gobyerno natin..:( ansaya ng buhay sa Pilipinas no?
Kaya bago natin husgahan si Juday, sa kanyang paliwanag ng system loss, at bago natin awayin ang Meralco sa taas ng singil ng kuryente.. tignan muna natin ang pinag-uugatan ng mahal na singil..
Meralco lamang ba ang salarin? O ginagamit rin lang sila ng corrupt na gobyerno para lalo tayong pahirapan?
Sabi nga ni Juday: YAN ANG BATAS!!!
How to Manage and Grow Your Business August 19, 2008
Posted by mona in : Uncategorized , add a commentTaken from www.home-based-business-opportunities.com
When you start a home-based business, you can often feel overwhelmed by the amount of work to accomplish and scarcity of time. Use the tips below to get more done in less time.
One thing that you’ll miss largely when you decide to start a home-based business is time. Time, that was once freely available to you, will become a scarce commodity. This is particularly true if you continue with your part-time job, which is advisable till you see success, and run your home-based business in spare time. Here are some important pointers to consider to effectively manage time and your business.
Stick to a Schedule
Home-based business comes with the biggest freedom of having able to schedule your own working hours. This means you are free to work whenever you want. However, this freedom can often be taken for granted and in turn gets transformed into the biggest nightmare for most home-based-business owners. When you get the liberty to do things whenever you wan to, trivial things gets done first and things which are most important often get a backseat. Hence, scheduling your tasks well in advance is critical for the success of your home business.
Prioritize Your To-Do List
When you have lot of things to do, prioritizing is very important. For example, you can check emails, and other lesser important things at the end of the day and do creative things, which are most important to the success of your business, when you start your day. Doing things vice-versa leaves you with minimum energy and motivation towards the ends, which is unhelpful to doing creative and vital things.
Ward off Distractions
Put off or stay away from all sources that can distract you during peak hours. For example, email indicators, home phone line, door bells, etc. Hence it’s very critical to dedicate a separate room for your office purpose. If you have kids, then you may also want to schedule your work hours when they leave for school.
Group Similar Tasks
You save a great deal of time if you learn to group similar tasks. For example, if you were going out for grocery, it makes sense to do all the tasks that come along your way. For example, giving your cloths to laundry, picking up your kids, etc.
In the same way, you can group similar tasks in your business too. Take email for example. Rather than frequently checking and replying to emails every 2 hours, you can devote fixed time for this purpose somewhere during the end of your work hours. Not only this will help you manage time effectively, you can also keep yourself from getting distracted from important tasks.
Self-Discipline
No amount of planning and scheduling can be successful unless you stick to it. When you work all alone and there is no one to supervise your every move, it becomes extremely difficult to stick to routines. Like said earlier, the freedom that comes with home-based business can often be taken for granted and misused. You must maintain discipline at any cost as that is the single most factor that will make or break your business.
Take Breaks
This is often neglected aspect of running a home-based business. When you think you can work whenever you want, you often end up working all the time. This is very counter-productive to your success. Breaks and social outings are critical to your overall development and creativity. When scheduling your work hours always make provisions for social outings and breaks. It’s also a good idea to spend a day or half, once in a week, free form all worries and anxieties that come with your business.
Please make sure you utilize these breaks to the maximum. Even going near your office is prohibited as this may remind you of unfinished tasks and deadlines and would defeat the entire purpose of having breaks in the first place. A break not just means detaching physically from your routines but mentally as well.
More Filipinos are Earning from Home August 19, 2008
Posted by mona in : Business , 5commentsHeard it on the news the other day. As the rate of unemployment rises in the country, more and more Filipinos are getting into home-based businesses. Whether it is as simple as putting up a sari-sari store or going into multi-level marketing or direct selling or getting into high tech businesses like home-based call centers or internet based online tutorial businesses, Filipinos are slowly finding their way towards self-sufficiency.
However, it is still a question of “How long can they make the business last?”
Aside from financial illiteracy, there are other factors which contribute to the failure of a business venture.
According to www.home-based-business-opportunities.com:
“The number of people failing with these opportunities is significantly larger than those who succeed. The major reason contributing to the fact is that because of low entry costs and the huge claims made by these programs, many people join at impulse only to find that running the business, like any real business takes whole lot of work! Other factors that contribute to members failing with business opportunities can be:
1. Catering to a dying or over saturated market. Upon signing up, the members may find that they are competing with already settled big players in their neighborhood or their prospective customers might have already been approached with similar proposals earlier.”
(Mona says: It always pays to be “the early bird.” Sometimes, people hear of a good business idea but they tend to wait for a friend or a relative to try it out first before going into it himself. By that time, a lot of people have already entered the scene so they only get the “crumbs”. This is true not only for MLMs but also for any type of business. It is so common to see the same business like internet cafes standing side by side and competing neck-to-neck with each other. It is the early players who usually get the prime spots and who have the advantage of having a larger share of frequent customers. And having been there “first” also means they had the advantage of earning loads of money before any competition went into the picture. In cases like this, one has to try harder to STAND OUT from the rest by offering better service or other things the competition does not have.)
“2. High priced products/services. Customers may not be willing to part their money for high-priced products when they can find equivalent low-priced products in the market. Or the quality of the products may not justify its steep price.”
(Mona says: Know your target market well. Be sure you are where your market is. Simply put…A high-end boutique would not sit well in a low-class mall.)
“3. Limitations on marketing methods. The business opportunity may not flexible enough to allow their members to express their creativity by allowing them to employ their own approach to market the products.”
(Mona says: This is so true for food franchises as businesses like these come with a manual and a fixed set of rules. Inasmuch as one would like to make his franchise compete aggressively with those around him specially in terms of pricing, he is restricted by these rules. However, if he can defend his stand about the need to apply such changes not only for his outlet but also for the other franchisees I don’t see any reason why the mother company wouldn’t change the rules. Even giants like McDonald’s implement changes to their menu or to their company colors to suit a particular country’s culture and taste.)
“4. Lack of support. The members may find their mentors too busy to help them get started and may get overwhelmed due to lack of support and mentoring.”
(Mona says: If support won’t come to you, then you better get out there and look for it! There are ways ( and there will always be ways) to get your business going. One of them is to never stop learning. You can learn not only from mentors but also from books, from other people’s experiences, from your personal experiences, and heck, you can even learn from your own imagination!)
“5. Illegal operations. The business opportunity may not confine to state laws and local zoning regulations and may shut down after some period of operation.”
(Mona says: If you want something to turn out right, you’ve got to start it right. Make sure that all the legalities are in place - from paperwork to fire safety standards. There’s more harm in trying to go against the rules when it comes to this one.)
“6. Over exaggerated claims. The members may find that the claims were larger-than-life and the facts may be bitter to digest.”
(Mona says: Okay..okay…As a consumer, I have been a victim of overexagerrated claims one too many times. From diet pills all the way up to real estate and college education plans. If you think it’s too god to be true, then it probably is!)
“7. Other aspects from members side like lack of marketing know-how, lack of record keeping, lack of management competence and lack of financial management.”
(Mona says: In my opinion, no business can ever go on autopilot. In business, one has to move, make his lists and make things happen.)
“Doing proper investigation and research and restraining from joining on impulse will ensure your long term success with the home business opportunity you decide to join.”
The Quotable Quotes I Can’t Apply in Business August 13, 2008
Posted by mona in : Business, Personal , add a commentWords to live by - It’s nice to have them like some sort of credo to inspire and motivate you in as you live your life. You recite it like a mantra to attract the good fortunes and drive away the bad.
However, for me, there are also words to “leave behind”. These are the sayings that really don’t make much sense to me, specially in business.
On top of my list of these words to leave behind is the saying “Plenty are for those who wait.” This expression is the “sister” of the saying “Patience is a virtue and the “first-degree cousin” of “Blessed are the poor.”
I tend to dislike these because a lot of people take them very literally and they are using them as convenient excuses for not doing anything to get ahead in life.
Call me impatient. But I’m certainly not the type who’d sit on my a*s and wait for the mountain to come to me. Opportunities and ideas don’t come to life with you just staring at it. You’ve got to be quick to move and grab hold of it before it gets away. Once it leaves, you can never have it back.
I’m not saying you should be greedy or you step on others’ toes just to get ahead. But don’t just wait because the only thing you’ll get plenty of will be regrets, missed opportunites and lost income.
Here in the Philippines, there’s this new breed of Filipinos who have the “relief goods mentality.” Well, some of them really do need help specially when disasters like typhoons hit them. It’s just irritating sometimes when you hear them talking like the world owes them a lot and should be given everything that they’ll ever need.
I watched a documentary on malnutrition on TV a few weeks back. There was this mother feeding her kids just rice and salt. She says there’s very little money for them to buy anything more than that because the husband doesn’t have a regular job. What struck me was they were living in the province and their shanty is surrounded by land! LAND…SOIL…you know what I mean?!!! Why can’t she and her husband who seem to have all the time in the world (because they dont have jobs) even take it upon themselves to at least plant something they can eat!!! Grrrrr! And they are expecting people to pity them and give them dole outs…Gosh, what losers!
