Ateneo Professor on Entrepreneurship
From newsmax
Newly installed France President Francois Hollande will call for additional 20 billion Euros in new taxes and cuts in spending of 10 billion reducing deficit from 4.5% of GDP to only 3%. The new taxes will include super tax of 75% for individuals and companies who earn more than one million euros.
The news was welcomed well by the bond market. The 10 year bonds yield went down to only 2% and it is predicted that next year's average will only be 2.9%
There are still a lot of challenges like unemployment which is the highest in 13 years.
What lies ahead for Europe's second biggest economy?
Do you agree with this new policy in France?
Is it OK to impose the same in the PHL? In US?
If you were a millionaire, would you agree to this? Or you will flee your country?
Saturday, September 29, 2012
Friday, September 28, 2012
Great places for start ups in the US
Ateneo Professor on Entrepreneurship
From Entrep.com
There are 10 great places for start ups in US. You will be surprised which are great places for start up; great ecosystem for starting a business. Some of them:
l. Long Island, New York;
2. Hoboken, NJ
3. Boulder Colorado,
4. Stamford, Connecticut.
Never heard? Read more.
From Entrep.com
There are 10 great places for start ups in US. You will be surprised which are great places for start up; great ecosystem for starting a business. Some of them:
l. Long Island, New York;
2. Hoboken, NJ
3. Boulder Colorado,
4. Stamford, Connecticut.
Never heard? Read more.
Mark Z of Facebook talks about FB up and down
Ateneo Professor on Entrepreneurship
From entrepreneur.com
Mark Z made his first public appearance since IPO of Facebook at TechCrunch disrupt conference. (Facebook still continues its nosedive; as of this week, by another 11%). He explained at length on FB acquisition of instagram, why it is not having a smartphone.
He talks about success and failure of FB and some advice:
l. Be where the customers are;
2. Recognize mistakes and be ready to pivot;
3. Find balance between business profit and service. Read more
From entrepreneur.com
Mark Z made his first public appearance since IPO of Facebook at TechCrunch disrupt conference. (Facebook still continues its nosedive; as of this week, by another 11%). He explained at length on FB acquisition of instagram, why it is not having a smartphone.
He talks about success and failure of FB and some advice:
l. Be where the customers are;
2. Recognize mistakes and be ready to pivot;
3. Find balance between business profit and service. Read more
From entrepreneur.com - 10 reasons why entrepreneurs fail
Ateneo Professor on Entrepreneurship
From entrepreneur.com
Why do start ups fail? Why do business start up entrepreneurs, buoyed by the opportunity scanned, their fiery passion, and well written business plan end up as failures (fail to execute well and reach their planned objectives?)
Some causes advanced are:
l. No written plan (I had 8 students in the last class who did not write/submit their business plan, a sure recipe for failure;)
2. Too thin revenue in the business model (most students failed to write the Sale-cost computation and estimate the Value Added)
3. Cant execute: cant manufacture the product well in right quantities; cant sell, cant collect...
4. Inexperienced team
5. Wrong budget estimate, cap ex, working capital estimate. Read more on causes of failure
From entrepreneur.com
Why do start ups fail? Why do business start up entrepreneurs, buoyed by the opportunity scanned, their fiery passion, and well written business plan end up as failures (fail to execute well and reach their planned objectives?)
Some causes advanced are:
l. No written plan (I had 8 students in the last class who did not write/submit their business plan, a sure recipe for failure;)
2. Too thin revenue in the business model (most students failed to write the Sale-cost computation and estimate the Value Added)
3. Cant execute: cant manufacture the product well in right quantities; cant sell, cant collect...
4. Inexperienced team
5. Wrong budget estimate, cap ex, working capital estimate. Read more on causes of failure
Saturday, September 22, 2012
Abject Lesson on MVP split with Ateneo
Ateneo Professor on Entrepreneurship
" Failure to manage one’s affairs – such as weak institutions, failed regulatory agencies, corrupt enforcements – do not mean a particular business is per se evil, as suggested about mining in that Jesuit Paper,” he said. “It is man’s frailty – Filipino frailty to be exact – that should be blamed, not the business.”
“I’ve already pointed out the examples of good mining practices elsewhere,” he added. “Indeed, the Filipino’s failure to manage well is shown in almost all facets of our lives – poor airports, poor sewerage, unclean air, mediocre economic growth. The list is long. Our preponderant task as a people is simply to do better – to strive for excellence. Isn’t that the Ateneo motto?”
These were the famous lines from MVP to Fr. Jett Villarin, Ateneo president.
But the goal is to excel to be better.
That is right it is the Ateneo motto. It is about self mastery.
It is entrepreneurship.
So we can not say the government or this or that has failed.
It is simply that the personal mastery of people running the affairs of that institution has not been up to par.
" Failure to manage one’s affairs – such as weak institutions, failed regulatory agencies, corrupt enforcements – do not mean a particular business is per se evil, as suggested about mining in that Jesuit Paper,” he said. “It is man’s frailty – Filipino frailty to be exact – that should be blamed, not the business.”
“I’ve already pointed out the examples of good mining practices elsewhere,” he added. “Indeed, the Filipino’s failure to manage well is shown in almost all facets of our lives – poor airports, poor sewerage, unclean air, mediocre economic growth. The list is long. Our preponderant task as a people is simply to do better – to strive for excellence. Isn’t that the Ateneo motto?”
These were the famous lines from MVP to Fr. Jett Villarin, Ateneo president.
But the goal is to excel to be better.
That is right it is the Ateneo motto. It is about self mastery.
It is entrepreneurship.
So we can not say the government or this or that has failed.
It is simply that the personal mastery of people running the affairs of that institution has not been up to par.
MVP, business tycoon, former chairman of school Board of Trustees, splits with Ateneo
Ateneo Professor on Entrepreneurship
From Phil. Daily Inquirer
Mr. Manuel V. Pangilinan, head of Metro Pacific Group, now embroiled in controversy with Enrile/Trilllanes tiff on China backdoor negotiations, called it a day with his alma mater and beneficiary of generations, Ateneo de Manila University.
MVP cited in his letter his decision in a letter to Fr. Jett Villarin, AdeMU president. The SJ, or AdemU presented its views on minining in a Jesuit Paper written by the SJ head in the PHL, Fr. Jojo Magadia. The split came over differences on stand over mining laws and the RH bill. (There was an issue earlier over a plagiarized graduation speech at AdeMU by MVP)
MVP through the mega companies he controls: PLDT, SMART, has supported Ateneo with huge donations: construction of school buildings, facilities and support for the Ateneo Blue Eagles.
He felt that by this split, each one would be free to pursue his advocacy;
He said that by having different opinion, he felt like a " fool helping an institution which opposes his views diametrically."
It is not that the business is bad but that of a "failed institution" Our goal is to be excellent, to be better, even citing the Parable of the Talents and what Ateneo teaches (magis)
He said that he is saddened by these events (so with other AdeMU alumni, and so with our difficult to undersand mindset as a people and institution..)
It is a sad day for the country, the alma mater, and business entrepreneurship's ecosystem
We should be grateful to MVP for his generosity to MVP, to wish him well and rest of the country.
Read more about the MVP split with AdeMU at Inquirer.
From ADSLU - more on MVP withdrawal of support to AdeMU
From Phil. Daily Inquirer
Mr. Manuel V. Pangilinan, head of Metro Pacific Group, now embroiled in controversy with Enrile/Trilllanes tiff on China backdoor negotiations, called it a day with his alma mater and beneficiary of generations, Ateneo de Manila University.
MVP cited in his letter his decision in a letter to Fr. Jett Villarin, AdeMU president. The SJ, or AdemU presented its views on minining in a Jesuit Paper written by the SJ head in the PHL, Fr. Jojo Magadia. The split came over differences on stand over mining laws and the RH bill. (There was an issue earlier over a plagiarized graduation speech at AdeMU by MVP)
MVP through the mega companies he controls: PLDT, SMART, has supported Ateneo with huge donations: construction of school buildings, facilities and support for the Ateneo Blue Eagles.
He felt that by this split, each one would be free to pursue his advocacy;
He said that by having different opinion, he felt like a " fool helping an institution which opposes his views diametrically."
It is not that the business is bad but that of a "failed institution" Our goal is to be excellent, to be better, even citing the Parable of the Talents and what Ateneo teaches (magis)
He said that he is saddened by these events (so with other AdeMU alumni, and so with our difficult to undersand mindset as a people and institution..)
It is a sad day for the country, the alma mater, and business entrepreneurship's ecosystem
We should be grateful to MVP for his generosity to MVP, to wish him well and rest of the country.
Read more about the MVP split with AdeMU at Inquirer.
From ADSLU - more on MVP withdrawal of support to AdeMU
Thursday, September 20, 2012
Better pricing strategies
Ateneo Professor on Entrepreneurship
From Small Success blog by Jeanne Rossome
These are various pricing strategies to get various types of buyers at your door.
You can have entry level goods, mid point price range, price more for speedy delivery; self service vs delivery You do not have to one price fits all strategy; Avoid the discount trap. Some tips
l. Give digital gifts instead of discount;
2. Create bundling so that it becomes difficult for buyers to compare with competitors;
3. If you are dealing with resellers, price and credit limits must be based on volumes
More pricing srategies tip by Jeanne Rossome
From Small Success blog by Jeanne Rossome
These are various pricing strategies to get various types of buyers at your door.
You can have entry level goods, mid point price range, price more for speedy delivery; self service vs delivery You do not have to one price fits all strategy; Avoid the discount trap. Some tips
l. Give digital gifts instead of discount;
2. Create bundling so that it becomes difficult for buyers to compare with competitors;
3. If you are dealing with resellers, price and credit limits must be based on volumes
More pricing srategies tip by Jeanne Rossome
Sending the right messages to the customers
Ateneo Professor on Entrepreneurship
From Inc by Geoffrey James.
There are three type of messages a company can send to the customer via the bought and social media:
l. Is message - what is the company,
2. Does - what the company does for the customer; emphasis is on function and price. "Our company supplies x equipment at lowest price and fast"
3. Means - what the company does to the customer sales and profits. " Our ads can increase your sales by as much as 30% in 6 mos"
The means message does more for your marketing efforts.
Concentrate in the means message; it is more effective.
INC links
From Inc by Geoffrey James.
There are three type of messages a company can send to the customer via the bought and social media:
l. Is message - what is the company,
2. Does - what the company does for the customer; emphasis is on function and price. "Our company supplies x equipment at lowest price and fast"
3. Means - what the company does to the customer sales and profits. " Our ads can increase your sales by as much as 30% in 6 mos"
The means message does more for your marketing efforts.
Concentrate in the means message; it is more effective.
INC links
Simplify your business to make more money
Ateneo Professor on Entrepreneurship
From financial post
KISS.
Keep it simple and short.
By reducing complexity in business, you make it focussed, lean, and more profitable.
Substantial savings and transparency can be achieved by business simplification and increase in profit can be as much as l00% (BPO, offshoring aims to simplify business by shifting non core essential business to cheaper/offshore sites)
Complexity abound in the following business types:
l. Strong customer is king mindset; thus there is proliferation of product lines, processes, inventroy;
2. Matrix organizations
3. Complicated supply chain
Problem solving is thus resorted to simplify the business:
l. Understand the problem
2. Identify the culpris
From financial post
KISS.
Keep it simple and short.
By reducing complexity in business, you make it focussed, lean, and more profitable.
Substantial savings and transparency can be achieved by business simplification and increase in profit can be as much as l00% (BPO, offshoring aims to simplify business by shifting non core essential business to cheaper/offshore sites)
Complexity abound in the following business types:
l. Strong customer is king mindset; thus there is proliferation of product lines, processes, inventroy;
2. Matrix organizations
3. Complicated supply chain
Problem solving is thus resorted to simplify the business:
l. Understand the problem
2. Identify the culpris
Adjust thermostats to improve productivity
Ateneo Professor on Entrepreneurship
From fast company
If you want to improve employee productivity, (in the PHL) you must make it cooler; in the temperate countries, you have to turn up the temp (above 68 F). The reason: being cold is associated with being lonely and and does not help much in inspiring better and more work outputs.
There is warmth productivity link.
So the next time, turn up the heat and turn up productivity
From fast company
If you want to improve employee productivity, (in the PHL) you must make it cooler; in the temperate countries, you have to turn up the temp (above 68 F). The reason: being cold is associated with being lonely and and does not help much in inspiring better and more work outputs.
There is warmth productivity link.
So the next time, turn up the heat and turn up productivity
Wednesday, September 19, 2012
US Median income also on the decline
Ateneo Professor on Entrepreneurship
From personal liberty digest
The US median income may have breached the $50,000 level. It has gone down 4.1% since Pres. Obama took office and fell 1.5% in 2011 to $50,054. It has not fallen below the $50,000 level for a long time.
Only 13% Republicans considered themselves poor; now it is at 23%. However with regards to Obamacare, the number of Americans without health insurance fell from 50 million to only 48.6,million, a bright spot in Obama administration
From personal liberty digest
The US median income may have breached the $50,000 level. It has gone down 4.1% since Pres. Obama took office and fell 1.5% in 2011 to $50,054. It has not fallen below the $50,000 level for a long time.
Only 13% Republicans considered themselves poor; now it is at 23%. However with regards to Obamacare, the number of Americans without health insurance fell from 50 million to only 48.6,million, a bright spot in Obama administration
Faber - US Fed policies will destroy the world economy
Ateneo Professor on Entrepreneurship
From Moneynews by Forrest Jones
The US Fed policies will destroy the world according to Marc Weber of Doom Gloom and Boom.
This subject matter, the QE 3 (quantitative easing 3) has been the subject of several posts all ready. The US Fed under Bernanke will purchase $40 B worth of securities from US banks monthly (inject liquidity) into banking system.
Many economists are aghast over this QE because it weakens the value of dollar, is inflationary. Furthermore, the objective of increasing production activities, and job creation activity is not met.
Why, because the liquidity is merely being spent to buy stocks.
The stock market has been fueled largely, artificially by this Fed policy. But it has revived housing which caused the collapse primarily. The QE has not percolated to the man on the street; it has made the rich richer though.
US Fed policies will destroy the world
From Moneynews by Forrest Jones
The US Fed policies will destroy the world according to Marc Weber of Doom Gloom and Boom.
This subject matter, the QE 3 (quantitative easing 3) has been the subject of several posts all ready. The US Fed under Bernanke will purchase $40 B worth of securities from US banks monthly (inject liquidity) into banking system.
Many economists are aghast over this QE because it weakens the value of dollar, is inflationary. Furthermore, the objective of increasing production activities, and job creation activity is not met.
Why, because the liquidity is merely being spent to buy stocks.
The stock market has been fueled largely, artificially by this Fed policy. But it has revived housing which caused the collapse primarily. The QE has not percolated to the man on the street; it has made the rich richer though.
US Fed policies will destroy the world
From intuit blog: how to make better decisions
Ateneo Professor on Entrepreneurship
From Intuit.blog by Rachel Hartman.
According to Peter Drucker, the management guru, one of the traits of an effective executive is making effective decisions, and first things first from Stephen Covey.
Just how are effective/better decisions made?
l. Identify root causes;
2. Ask others for inputs; consult stakeholders,
3. Keep goals in mind;
4. Let it rest for a while; think ten times before sending the memo or announcing the decision
Making better decisions.
From Intuit.blog by Rachel Hartman.
According to Peter Drucker, the management guru, one of the traits of an effective executive is making effective decisions, and first things first from Stephen Covey.
Just how are effective/better decisions made?
l. Identify root causes;
2. Ask others for inputs; consult stakeholders,
3. Keep goals in mind;
4. Let it rest for a while; think ten times before sending the memo or announcing the decision
Making better decisions.
Trust your marketing advertising company
Ateneo Professor on Entrepreneurship
From small business trends by John Follis
Great companies generally engage the services or recognize the importance of marketing in the success of business. Does your company do?
Early in the life of Apple, Steve Jobs recognized the importance of marketing in their enterprise succes. Apple hired Regis Mckenna to do their logo and other initial marketing activities. Later Regis Mckenna was sold to Chiat Day. There is a story about how the ad agency helped Jobs come out with iMac.
Great marketing was instrumental in Apple's success
From small business trends by John Follis
Great companies generally engage the services or recognize the importance of marketing in the success of business. Does your company do?
Early in the life of Apple, Steve Jobs recognized the importance of marketing in their enterprise succes. Apple hired Regis Mckenna to do their logo and other initial marketing activities. Later Regis Mckenna was sold to Chiat Day. There is a story about how the ad agency helped Jobs come out with iMac.
Great marketing was instrumental in Apple's success
How email can help you retain customers?
Ateneo Professor on Entrepreneurship
From entrepreneur.com by Logan Kugler
Marie Forleo had a prospering business: Rich Happy and Hot Brand, an online business that is geared towards women at PTM. It aims to bring fun and financial independence through mentoring and coaching on how to put their own business.
However, the business ran into rough waters; there was 17% drop out rate - yet there were no complaints. She found out that there were drop outs because the enrolees business prospered, they were overwhelmed with increasing amount of materials and their time available did not meet the demands of the business and their studies.
The fix was an autopilot email software that allowed the students to make feedback, and then reassure the students by emailing the stories alumni wins/successes in their business.
Drop out rate fell from the high of 17 % to mere 3.5% and adding $198,000 to the business bottom line. Is it not great?
From entrepreneur.com by Logan Kugler
Marie Forleo had a prospering business: Rich Happy and Hot Brand, an online business that is geared towards women at PTM. It aims to bring fun and financial independence through mentoring and coaching on how to put their own business.
However, the business ran into rough waters; there was 17% drop out rate - yet there were no complaints. She found out that there were drop outs because the enrolees business prospered, they were overwhelmed with increasing amount of materials and their time available did not meet the demands of the business and their studies.
The fix was an autopilot email software that allowed the students to make feedback, and then reassure the students by emailing the stories alumni wins/successes in their business.
Drop out rate fell from the high of 17 % to mere 3.5% and adding $198,000 to the business bottom line. Is it not great?
Tuesday, September 18, 2012
Ex McDo Exec to start a Healthy Food Chain
Ateneo Professor on Entrepreneurship
From Inc by Maegham Ouimet
Mike Roberts, former President and COO of McDonald's used to run 3l,000 restaurants worldwide.
After retiring, he seem fit to start his own chain from single restaurant in Palo Alto California called LYFE Kitchen (Love Your Food Everyday). He raised $l5 million dollars from from 120 investors to start this healthy food restaurant. It will not be selling fries and burgers.
Roberts this early is planning to expand in major cities: NY and Chicago.
We wish Mike Roberts with his LYFE kitchen.
From Inc by Maegham Ouimet
Mike Roberts, former President and COO of McDonald's used to run 3l,000 restaurants worldwide.
After retiring, he seem fit to start his own chain from single restaurant in Palo Alto California called LYFE Kitchen (Love Your Food Everyday). He raised $l5 million dollars from from 120 investors to start this healthy food restaurant. It will not be selling fries and burgers.
Roberts this early is planning to expand in major cities: NY and Chicago.
We wish Mike Roberts with his LYFE kitchen.
How to start a conversation in a cold call
Ateneo Professor on Entrepreneurship
From Inc.
A cold call will be successful if the prospect has a need for your product or service and he has money to buy your product/service.
For example a company announces a great sales campaign and you are selling an inventory control system. So you can start the conversation with: "I just learned that you are launching a new sales campaign, and you may just need our inventory control system to keep your inventory level in check."
Other events that can start a conversation:
l. The company opened a new facility;
2. The company hired a new executive;
3. The company launched a new product;
Other events that can start a conversatiopn going on in a cold sales call
Inc post
From Inc.
A cold call will be successful if the prospect has a need for your product or service and he has money to buy your product/service.
For example a company announces a great sales campaign and you are selling an inventory control system. So you can start the conversation with: "I just learned that you are launching a new sales campaign, and you may just need our inventory control system to keep your inventory level in check."
Other events that can start a conversation:
l. The company opened a new facility;
2. The company hired a new executive;
3. The company launched a new product;
Other events that can start a conversatiopn going on in a cold sales call
Inc post
How do you make your company entrepreneurial
Ateneo Professor on Entrepreneurship
From Inc.
What do you mean you want to make the company entrepreneurial? Do you want to hire entrepreneurs? Definitely not. If you do, soon you find yourself having competitors.
What you really mean is to hire people with entrepreneurial spirit. How do you do this?
l. Hire for passion. Does the applicant have a passion in what he does?
2. Talk about money. Talk about the business. Does he like business;
3. Reward people for their initiative
From Inc.
What do you mean you want to make the company entrepreneurial? Do you want to hire entrepreneurs? Definitely not. If you do, soon you find yourself having competitors.
What you really mean is to hire people with entrepreneurial spirit. How do you do this?
l. Hire for passion. Does the applicant have a passion in what he does?
2. Talk about money. Talk about the business. Does he like business;
3. Reward people for their initiative
Metrics that private investors look for in your business
Ateneo Professor on Entrepreneurship
From Inc.
I all ready discussed what the investors look for in your business plan. they are not just interested in your ideas; they are interested in your business model - just how you are going to make your business concept/ idea work .
Here we outline the financials objectives:
l. cash flow;
2. expense control
3. product by product sales.
4. liqudity;
5. Industry specific metrics
From Inc.
I all ready discussed what the investors look for in your business plan. they are not just interested in your ideas; they are interested in your business model - just how you are going to make your business concept/ idea work .
Here we outline the financials objectives:
l. cash flow;
2. expense control
3. product by product sales.
4. liqudity;
5. Industry specific metrics
Monday, September 17, 2012
The US stock rally will end terribly.
Ateneo Professor on Entrepreneurship
From Moneynews
Jim Rogers, a noted international investor has noted that the rising stock prices are due for a massive sell off. The rise in prices has not been rooted in sound fundamentals. The loose monetary policy of US Fed is the sole driver of Wall St. stock prices.
Since 2008 the US Fed has kept interest rates to almost 0 and kept liquidity high allegedly to encourage investments and create jobs.
Is this strategy right?
Are QEs implemented so far producing the desired results for US economy
From Moneynews
Jim Rogers, a noted international investor has noted that the rising stock prices are due for a massive sell off. The rise in prices has not been rooted in sound fundamentals. The loose monetary policy of US Fed is the sole driver of Wall St. stock prices.
Since 2008 the US Fed has kept interest rates to almost 0 and kept liquidity high allegedly to encourage investments and create jobs.
Is this strategy right?
Are QEs implemented so far producing the desired results for US economy
Marc Faber - If I were Bernanke, I'd resign
Ateneo Professor on Entrepreneurship
From Moneynews
Marc Faber, author Gloom, Doom and Boom report, said that he was Bernanke the US Central Bank, he would resign for having damaged the economy.
The QE3 would be in effect: US Fed would buy monthly, (inject liquidity) $40 billion worth of securities held by banks to stimulate the economy.
The problem with this move is that money moves to the stock market, props up the prices and the rich who invest in the stock market. profits; the added liquidity does not translate into more productive enteprises, and the jobs, which are needed are not created.
As we all know, low interest rates, high liquidity encourages inflation and consumption; no investments because money is cheap.
Faber - Fed Bank Chairman should resign
From Moneynews
Marc Faber, author Gloom, Doom and Boom report, said that he was Bernanke the US Central Bank, he would resign for having damaged the economy.
The QE3 would be in effect: US Fed would buy monthly, (inject liquidity) $40 billion worth of securities held by banks to stimulate the economy.
The problem with this move is that money moves to the stock market, props up the prices and the rich who invest in the stock market. profits; the added liquidity does not translate into more productive enteprises, and the jobs, which are needed are not created.
As we all know, low interest rates, high liquidity encourages inflation and consumption; no investments because money is cheap.
Faber - Fed Bank Chairman should resign
Corporations and profits are not the source of evil - Schiff
Ateneo Professor on Entrepreneurship
From Moneynews
Peter Schiff, the CEO of Euro Pacific Capital to Dems delegates who said that corporate profits should be banned. Schiff told the delegates they are wrong.
Corporation brings new goods and services to people, and profits are reinvested to create more jobs and improve the business. They even pay the taxes. Profit is the motivation of entrepreneurs to invest. The victory of Dem ideas means less investments or O investments and what we see now: job loss.
I would like to see the problem in the US of loss of jobs as a result of wrong mindset to the source of the economic activity in the US.
It is a mistaken belief by the Democrats that they are entitled to something from the govt; and that rich owe something to the govt.
For the Dems, is mentioning profits like holding a cross to a vampire?
From Moneynews
Peter Schiff, the CEO of Euro Pacific Capital to Dems delegates who said that corporate profits should be banned. Schiff told the delegates they are wrong.
Corporation brings new goods and services to people, and profits are reinvested to create more jobs and improve the business. They even pay the taxes. Profit is the motivation of entrepreneurs to invest. The victory of Dem ideas means less investments or O investments and what we see now: job loss.
I would like to see the problem in the US of loss of jobs as a result of wrong mindset to the source of the economic activity in the US.
It is a mistaken belief by the Democrats that they are entitled to something from the govt; and that rich owe something to the govt.
For the Dems, is mentioning profits like holding a cross to a vampire?
US Debt Downgrade inevitable
Ateneo Professor on Entrepreneurship
From Money news
The US debt downgrade is inevitable, a foregone conclusion, according to David Stockman, a fmr White House budget director under Pres. Ronald Reagan.
It is mainly because of the lack of political will to resolve by legislation on automatic tax cuts passed under Pres. Bush. They will expire by the end of the year.
Moody's all ready downgraded US debt last Aug 2011 (the dilly dallying of US lawmakers on the debt limit law may have something to do with this?)
Stockman tells that tax cuts mean that American live beyond their means. One view is that the end of tax cuts will put the country into severe recession but will be stronger (This concerns the question is belt tightening or QE good for the country?)
US debt downgrade inevitable.
From Money news
The US debt downgrade is inevitable, a foregone conclusion, according to David Stockman, a fmr White House budget director under Pres. Ronald Reagan.
It is mainly because of the lack of political will to resolve by legislation on automatic tax cuts passed under Pres. Bush. They will expire by the end of the year.
Moody's all ready downgraded US debt last Aug 2011 (the dilly dallying of US lawmakers on the debt limit law may have something to do with this?)
Stockman tells that tax cuts mean that American live beyond their means. One view is that the end of tax cuts will put the country into severe recession but will be stronger (This concerns the question is belt tightening or QE good for the country?)
US debt downgrade inevitable.
Systemic Thinking
Ateneo Professor on Entrepreneurship
This is a very important concept in entrepreneurship. The relationship between cause and effect is not linear. It is systemic: (From Peter Senge: Fifth Discipline) like clockwork where there are hundreds of wheels turning with counterwheels; a breakdown halts the entire clock; or like an electronic chip where are myriads of transistors on a chip the size of a stamp.
One of the ideas about a system is that there are seven components: inputs, outputs, throughputs, purpose (objective), human aid, catalysts, information aid. (From Breakthrough Thinking by Hibino)
So we are posting events around the world, so that we are made aware that e.g . how will fiscal cliff affect PHL economy; how will Romney/Obama victory affect world peace and security; or the Grexit.
All these add up. They can and do affect our lives and our enterprises.
This is a very important concept in entrepreneurship. The relationship between cause and effect is not linear. It is systemic: (From Peter Senge: Fifth Discipline) like clockwork where there are hundreds of wheels turning with counterwheels; a breakdown halts the entire clock; or like an electronic chip where are myriads of transistors on a chip the size of a stamp.
One of the ideas about a system is that there are seven components: inputs, outputs, throughputs, purpose (objective), human aid, catalysts, information aid. (From Breakthrough Thinking by Hibino)
So we are posting events around the world, so that we are made aware that e.g . how will fiscal cliff affect PHL economy; how will Romney/Obama victory affect world peace and security; or the Grexit.
All these add up. They can and do affect our lives and our enterprises.
Sunday, September 16, 2012
Having ideas is not enough, having a business model is
Ateneo Professor on Entrepreneurship
From Inc
Sometimes you think that having an idea, a concept is enough. It is not. Having the business model is.
The investor is not interested in your idea; but how to make money from the venture. You have to convince the investor:
l. That you can put together the team, the resources and activities, and the links to create the business;
2. that you can have the manageable executions to serve the customers and deliver the mvp; and that you understand the process and the product (this was the comment/weakness of the past Entrep batch business plan)
3. the amount of costs and revenues; thus it has to be clear in the business model including the gross profit or the value added.
Know your business model, not just the idea to get your investor
From Inc
Sometimes you think that having an idea, a concept is enough. It is not. Having the business model is.
The investor is not interested in your idea; but how to make money from the venture. You have to convince the investor:
l. That you can put together the team, the resources and activities, and the links to create the business;
2. that you can have the manageable executions to serve the customers and deliver the mvp; and that you understand the process and the product (this was the comment/weakness of the past Entrep batch business plan)
3. the amount of costs and revenues; thus it has to be clear in the business model including the gross profit or the value added.
Know your business model, not just the idea to get your investor
Do you like to be one of the new 3,981 millionaires minted daily?
Ateneo Professor on Entrepreneurship
From Newsmax
This is a promo to sell a How to be a Millionaire Kit (to make the seller a millionaire). The pitch discusses three practical ways to be a millionaire:
l. To buy the proven kit of creating $41 billion wealth;
2. To get the IRS hands off your retirement pay;
3. To participate in the US government $4.5 billion a day bail out program that covers: food stamp, cellphone support, incentive to drive your car, incentive for sharing ideas to improve economy, how to wipe up to $8,000 in credit card debt. (This $4 billion daily loss for US Fed resulting in more printing of money and deficit is being questioned by many)
Will you belong to a new batch of 3.981 millionaires soon?
From Newsmax
This is a promo to sell a How to be a Millionaire Kit (to make the seller a millionaire). The pitch discusses three practical ways to be a millionaire:
l. To buy the proven kit of creating $41 billion wealth;
2. To get the IRS hands off your retirement pay;
3. To participate in the US government $4.5 billion a day bail out program that covers: food stamp, cellphone support, incentive to drive your car, incentive for sharing ideas to improve economy, how to wipe up to $8,000 in credit card debt. (This $4 billion daily loss for US Fed resulting in more printing of money and deficit is being questioned by many)
Will you belong to a new batch of 3.981 millionaires soon?
Which is better monetary policy - belt tightening or quantitative easing
Ateneo Professor on Entrepreneurship
In the old days, the IMF prescription is belt tightening. Even in Europe, there are regular protests in UK, Greece and Spain because of budget cuts. In the PHIL, IMF is often seen as oppressive demon because of the bitter medicine: higher taxes, more efficient collection and budget cuts.
For the PHL it worked; it was able to exit the IMF program and is now a donor country.
However, for the rest of the world and it is unfair, as in US more liquidity injection, as it were, putting a distressed patient on more oxygen and IV fluids would be the order of the day. It is termed as QE by Bernanke.
However is liquidity easing working?
Economist Lindsey Piegza of FTN financial says that the QE will not work, unless there is a certainty in about to expire budget and tax cuts on Dec. 3l, 2012. The cuts were still from the Bush era. As for the lawmakers acting on this, there seems to be a lot of inactivity.
The details of the QE was discussed in a previous article. :Profjorgeentrep on Quantitative Easing post
Economist Piegza says QE by Fed will not improve economy much. When will the US lawmakers ac?
In the old days, the IMF prescription is belt tightening. Even in Europe, there are regular protests in UK, Greece and Spain because of budget cuts. In the PHIL, IMF is often seen as oppressive demon because of the bitter medicine: higher taxes, more efficient collection and budget cuts.
For the PHL it worked; it was able to exit the IMF program and is now a donor country.
However, for the rest of the world and it is unfair, as in US more liquidity injection, as it were, putting a distressed patient on more oxygen and IV fluids would be the order of the day. It is termed as QE by Bernanke.
However is liquidity easing working?
Economist Lindsey Piegza of FTN financial says that the QE will not work, unless there is a certainty in about to expire budget and tax cuts on Dec. 3l, 2012. The cuts were still from the Bush era. As for the lawmakers acting on this, there seems to be a lot of inactivity.
The details of the QE was discussed in a previous article. :Profjorgeentrep on Quantitative Easing post
Economist Piegza says QE by Fed will not improve economy much. When will the US lawmakers ac?
Is Quantitative Easing (QE) - Liquidity Infusion good for the US economy?
Ateneo Professor on Entrepreneurship
From Moneynews
Is the Quantitative Easing (US Fed printing money, buying back bonds and treasuries) in effect injecting liquidity into the financial system, good for the US economy?
Donald Trump, a real estate mogul and now an outspoken US citizen thinks QE is giving the stock market false results.
Home buyers are not buying new homes, despite the added liquidity, because banks are not lending anyway. Where is the excess liquidity going into? Foreign investments? Or stock market (maybe offshore) and does not go to intended beneficiary.
Past QE injected $2.3 trillion into the economy: QE 1 Fed bought $1.7 trillion of mortgage backed securities from banks; under QE 2 $600 billion worth of Treasury holdings were bought. Under QE 3, $40 billion worth of securities would be bought monthly from banks to generate more jobs. That extra liquidity, $2.3 trillion is increasing and will increase further. (Many think that gold is at $l,600 per ounce because it has now been the more acceptable currency and no longer the dollar; the dollar has lost its value because of this excessive liquidity )
These moves ie injecting liquidity into the market was done to avert depression; however many think that the amount of infusion is too large and depresses the value of the dollar, and that much of this has been going into welfare like food stamps where 44 million Americans are enrolled. Are they looking for jobs in a jobless economy.
Money News on Trump - Fed causing stock market to give false numbers
From Moneynews
Is the Quantitative Easing (US Fed printing money, buying back bonds and treasuries) in effect injecting liquidity into the financial system, good for the US economy?
Donald Trump, a real estate mogul and now an outspoken US citizen thinks QE is giving the stock market false results.
Home buyers are not buying new homes, despite the added liquidity, because banks are not lending anyway. Where is the excess liquidity going into? Foreign investments? Or stock market (maybe offshore) and does not go to intended beneficiary.
Past QE injected $2.3 trillion into the economy: QE 1 Fed bought $1.7 trillion of mortgage backed securities from banks; under QE 2 $600 billion worth of Treasury holdings were bought. Under QE 3, $40 billion worth of securities would be bought monthly from banks to generate more jobs. That extra liquidity, $2.3 trillion is increasing and will increase further. (Many think that gold is at $l,600 per ounce because it has now been the more acceptable currency and no longer the dollar; the dollar has lost its value because of this excessive liquidity )
These moves ie injecting liquidity into the market was done to avert depression; however many think that the amount of infusion is too large and depresses the value of the dollar, and that much of this has been going into welfare like food stamps where 44 million Americans are enrolled. Are they looking for jobs in a jobless economy.
Money News on Trump - Fed causing stock market to give false numbers
Friday, September 14, 2012
Must you be a jerk as an entrepreneur? Was SJ a jerk?
Ateneo Professor on Entrepreneurship
I recently got a tweet containing the article of Vinod Khosla from techcrunch
This presents a different picture of Steve Jobs, the founder and visionary of Apple.
Steve Jobs, while a demanding leader made breaches on etiquette, and integrity. One such example was when Steve Wozniak worked on Atari game Breakout for 4 nights, and SJ pocketed the bonus.
And there were firings, and refusal to give employee Number 12 a founding stock..
Do you agree with Khosla that the late SJ was a jerk?
I recently got a tweet containing the article of Vinod Khosla from techcrunch
This presents a different picture of Steve Jobs, the founder and visionary of Apple.
Steve Jobs, while a demanding leader made breaches on etiquette, and integrity. One such example was when Steve Wozniak worked on Atari game Breakout for 4 nights, and SJ pocketed the bonus.
And there were firings, and refusal to give employee Number 12 a founding stock..
Do you agree with Khosla that the late SJ was a jerk?
Good morning, good day for Germany and Europe
Ateneo Professor on Entrepreneurship
From Money News
Germany's constitutional court approved Germany's participation in ECB ESM (Eurozone Stability Mechanism). The veto rights granted to the FDR parliament was less onerous than anticipated. Therefore it is go for the 700 billion Euro stability fund that would seem to stabilize the 3 year old Euro problem. Germany is the only Euro country that has not ratified the ESM
The good news was met by high Euro rate vs the dollar and stocks prices increasing.
The complaints of some 37,000 Germans (democrats, German Chancellor lawmakers, and leftists elements) argued that sovereignity is being transferred from Germany to Brussel.
The court dismissed this as nonsense; however it imposed two conditions: l. That the exposure of FDR would be limited to only 190 billion Euros; and that 2, Bundestag (Lower German Parliament)
Bundesrat ( Upper house) would be informed comprehensively of activities of ESM (despite confidentiality rule of ECB)
Last week, Mario Draghi, president of ECB said it would be buying loans and papers of various European banks: l. to prop up liquidity, 2. to keep Eurozone intact
From Money News
Germany's constitutional court approved Germany's participation in ECB ESM (Eurozone Stability Mechanism). The veto rights granted to the FDR parliament was less onerous than anticipated. Therefore it is go for the 700 billion Euro stability fund that would seem to stabilize the 3 year old Euro problem. Germany is the only Euro country that has not ratified the ESM
The good news was met by high Euro rate vs the dollar and stocks prices increasing.
The complaints of some 37,000 Germans (democrats, German Chancellor lawmakers, and leftists elements) argued that sovereignity is being transferred from Germany to Brussel.
The court dismissed this as nonsense; however it imposed two conditions: l. That the exposure of FDR would be limited to only 190 billion Euros; and that 2, Bundestag (Lower German Parliament)
Bundesrat ( Upper house) would be informed comprehensively of activities of ESM (despite confidentiality rule of ECB)
Last week, Mario Draghi, president of ECB said it would be buying loans and papers of various European banks: l. to prop up liquidity, 2. to keep Eurozone intact
Gluten free food and diet opens opportunity for entrepreneur
Ateneo Professor on Entrepreneurship
From entrepereneur.com
This growing trend enabled Jessica Mindell to start Jessica Natural Foods. Her inspiration was her husband who was gluten sensitive.
As we all know, gluten which comes from some food like bread, MSG cause some sensitivity and is cause of migraine in others. One of the prescription for migraine sufferers is to avoid food with gluten.
She started with 900 bags of gluten free granola loaded them in a SUV and sold them cold calling. Her projected sales for 2012 would be $500,000, up from $l00,000 last year.
The gluten free food is expected to reach $5.6 billion in 2015. The market has grown by 30% since 2006.
Is there such an opportunity for gluten free food in the PHL?
From entrepereneur.com
This growing trend enabled Jessica Mindell to start Jessica Natural Foods. Her inspiration was her husband who was gluten sensitive.
As we all know, gluten which comes from some food like bread, MSG cause some sensitivity and is cause of migraine in others. One of the prescription for migraine sufferers is to avoid food with gluten.
She started with 900 bags of gluten free granola loaded them in a SUV and sold them cold calling. Her projected sales for 2012 would be $500,000, up from $l00,000 last year.
The gluten free food is expected to reach $5.6 billion in 2015. The market has grown by 30% since 2006.
Is there such an opportunity for gluten free food in the PHL?
Thursday, September 13, 2012
World's top 100 most powerful women from Forbes
Ateneo Professor on Entrepreneurship
From Forbes
Here is a list of world top 100 most powerful women. At the top of the list is Angela Merkel, the Chancellor of FDR (Germany) Others are Hillary Clinton, Michelle Obama, Sonia Gandhi, Sherryl Sandberg, Oprah, Bayonce, Jennifer Lopez, etc.
More top 100 most powerful women from Forbes.
From Forbes
Here is a list of world top 100 most powerful women. At the top of the list is Angela Merkel, the Chancellor of FDR (Germany) Others are Hillary Clinton, Michelle Obama, Sonia Gandhi, Sherryl Sandberg, Oprah, Bayonce, Jennifer Lopez, etc.
More top 100 most powerful women from Forbes.
"I wanna be a billionaire... really bad..."
Ateneo Professor on Entrepreneurship
From Forbes
Track down the billionaires as they gain or lose based on the stock prices.
Some of them: Warren Buffett, Li Kaishing , Mark Zuckerberg Carlos, Slim Helu
Find out more about the Forbes list of billionaires
Forbes billionaire list.
From Forbes
Track down the billionaires as they gain or lose based on the stock prices.
Some of them: Warren Buffett, Li Kaishing , Mark Zuckerberg Carlos, Slim Helu
Find out more about the Forbes list of billionaires
Forbes billionaire list.
Did Larry Page make his first mistake?
Ateneo Professor on Entrepreneurship
From Forbes
Larry Page, the CEO of Google was named as CEO of the year and made such nimble and bold decision like acquiring Motorola mobility. However, the recent introduction of Search Plus your world seems like a clumsy move. Such blurred the image of Google as a reliable and fast search engine...Its socialness also was not clear.
Nevertheless, even if there is the downside, the the boldness and swiftness of Google under Larry Page has been underscored.
From Forbes
Larry Page, the CEO of Google was named as CEO of the year and made such nimble and bold decision like acquiring Motorola mobility. However, the recent introduction of Search Plus your world seems like a clumsy move. Such blurred the image of Google as a reliable and fast search engine...Its socialness also was not clear.
Nevertheless, even if there is the downside, the the boldness and swiftness of Google under Larry Page has been underscored.
Why you should not buy the new Apple 5s phone?
Ateneo Professor on Entrepreneurship
From Forbes
While the others are extolling the virtues of the new Apple iPhone 5, this contributor Robert Hof suggests dont.
Some of his reasons:
l. The 4s are cheaper (say $99.00 each vs. $l99 to 399 for the iPhone 5 depending on the memory)
2. Some of the new features may not work;
3. There may be fewer unlimited data plan options on the new phone.
4. The new phone may not be that revolutionary
From Forbes
While the others are extolling the virtues of the new Apple iPhone 5, this contributor Robert Hof suggests dont.
Some of his reasons:
l. The 4s are cheaper (say $99.00 each vs. $l99 to 399 for the iPhone 5 depending on the memory)
2. Some of the new features may not work;
3. There may be fewer unlimited data plan options on the new phone.
4. The new phone may not be that revolutionary
Top 10 Funcitional demands of entrepreneurs
Ateneo Professor on Entrepreneurship
From Forbes
By Cheryl Conner
Gallup's Chairman Jim Clifton in his latest book, The Jobs War describes the entrepreneurial trait as one of the rarest talent, scarest, hardest to find in the world" The author laments that not much thought has been given to the psychological requirements from an entrepreneur (disagree - on my first day of class, and subsequent assignments, the factors required from an entrepreneur are extensively discussed and debated in the class. Are entrepreneurs: born, made or lucky. There is also discussion on brain of entrepreneurs, and self mastery. I require students to submit inspirational videos that are clearly emotional and motivational in their undertones/themes)
Some functionalities of entrepreneurs:
l. Know your personal brand (in my class, the inspirational video defines the entrep students)
2. Think through the possibilities. Think outside the box (NU 12 ideas are shared weekly at a specific blog to train the students mind to create and think of new ideas on existing products)
3. Take on challenges
4. Promote the business (in the class we ask the students to make the pitch)
5. Focus on business outcomes (We have discussions on business objectives. VMOKRAPI)
From Forbes
By Cheryl Conner
Gallup's Chairman Jim Clifton in his latest book, The Jobs War describes the entrepreneurial trait as one of the rarest talent, scarest, hardest to find in the world" The author laments that not much thought has been given to the psychological requirements from an entrepreneur (disagree - on my first day of class, and subsequent assignments, the factors required from an entrepreneur are extensively discussed and debated in the class. Are entrepreneurs: born, made or lucky. There is also discussion on brain of entrepreneurs, and self mastery. I require students to submit inspirational videos that are clearly emotional and motivational in their undertones/themes)
Some functionalities of entrepreneurs:
l. Know your personal brand (in my class, the inspirational video defines the entrep students)
2. Think through the possibilities. Think outside the box (NU 12 ideas are shared weekly at a specific blog to train the students mind to create and think of new ideas on existing products)
3. Take on challenges
4. Promote the business (in the class we ask the students to make the pitch)
5. Focus on business outcomes (We have discussions on business objectives. VMOKRAPI)
Wednesday, September 12, 2012
The future of your company lies in your newest recruit; train him well
Ateneo Professor on Entrepreneurship
More from Entrepreneur.com
The future of the company lies in the hands of your newest recruit. The future managers and leaders of the company will come from the fresh batch of recuits. These are the things you must do to fully impress/ make training effective for the new recruits:
l. Assign a mentor;
2. Schedule lunch
3. Make him/her have a taste of culture (apprenticeship, teambuilding)
4. Assign attainable goals
More from Entrepreneur.com
The future of the company lies in the hands of your newest recruit. The future managers and leaders of the company will come from the fresh batch of recuits. These are the things you must do to fully impress/ make training effective for the new recruits:
l. Assign a mentor;
2. Schedule lunch
3. Make him/her have a taste of culture (apprenticeship, teambuilding)
4. Assign attainable goals
Stop making excuses, be passionate entrepreneur now
Ateneo Professor on Entrepreneurship
From entrepreneur.com
Deciding between corporate life/leadership and life of entrepreneur/leadership?
There is a safety net and stability in working for someone; there is a also fun in carving a life for you and determining new paths for career like being a millionaire and blazing new trails as an entrepreneur;
l. Decide that you are going to be passionate
2. Know your market.
3. Turn to friends and family for support
4. Create a safety net; save have contingency planning/savings
From entrepreneur.com
Deciding between corporate life/leadership and life of entrepreneur/leadership?
There is a safety net and stability in working for someone; there is a also fun in carving a life for you and determining new paths for career like being a millionaire and blazing new trails as an entrepreneur;
l. Decide that you are going to be passionate
2. Know your market.
3. Turn to friends and family for support
4. Create a safety net; save have contingency planning/savings
3 creative ways of stepping out of your comfort zone
Ateneo Professor on Entrepreneurship
From entrepreneur.com
There are suggested ways on how to get out of the box - how to be innovative and creative
1. Enroll in improv. Improv is a theatrical class where you improvise scripts and plots, given certain things not to do.
2. Switch jobs. say with the receptionist or with the operator. Tim Brown, president and CEO of IDEO did this.
3. Open yourself to scrutiny
From entrepreneur.com
There are suggested ways on how to get out of the box - how to be innovative and creative
1. Enroll in improv. Improv is a theatrical class where you improvise scripts and plots, given certain things not to do.
2. Switch jobs. say with the receptionist or with the operator. Tim Brown, president and CEO of IDEO did this.
3. Open yourself to scrutiny
Ways to rekindle interest in business
Ateneo Professor on Entrepreneurship
From entrepreneur com
There are several ways by which interest/passion in the business can be reignited:
l. Entrepreneurs just want to have fun too. Find time to recharge. Business owners/entrepreneurs must have fun. I know some young entrepreneurs who run a chain a restaurants do computer games during hours when there is no business.
2. Seek out a mentor;
3. Delegate parts of business
More ways on how to reignite passion in business
From entrepreneur com
There are several ways by which interest/passion in the business can be reignited:
l. Entrepreneurs just want to have fun too. Find time to recharge. Business owners/entrepreneurs must have fun. I know some young entrepreneurs who run a chain a restaurants do computer games during hours when there is no business.
2. Seek out a mentor;
3. Delegate parts of business
More ways on how to reignite passion in business
What Market Leaders practice
Ateneo Professor on Entrepreneurship
From ducttape marketing
In order to predict the future, you have to invent it. Thus said Peter Drucker the famous managemetn guru of the 21st century.
Thus an entrepreneur must do much to lead in his industry by practicing some or all of the tips:
l. Teach
2. Network
3. Host
4. Collaborate/cooperate rather than compete
Other habits practiced by market leaders
From ducttape marketing
In order to predict the future, you have to invent it. Thus said Peter Drucker the famous managemetn guru of the 21st century.
Thus an entrepreneur must do much to lead in his industry by practicing some or all of the tips:
l. Teach
2. Network
3. Host
4. Collaborate/cooperate rather than compete
Other habits practiced by market leaders
PDQ Report on Barbecue Group 5
Good Day, Sir!
Here is the link of our PDQ Report on BBQ: http://www.slideshare.net/lrp315/pdq-report-group-5
Thank you.
Best Regards,
Lei
Anne
Ana
Jen
Hicham
How to have finished projects.
Ateneo Professor on Entrepreneurship
From Open Forum
The problem with many entrepreneurs is not the absence of new ideas. As a matter of fact some entrepreneurs have multiple projects wanting to get off the ground, begging for focus and attention. In the end, all starts and nothing finished. No project. No results.
The tip are to:
l. Establish priorities.
2. Devote large chunks of time for projects that must be completed.
It is my idea that we should have them done completely soon one by one.
Constant follow up.
Find out when you are most productive and energized
From Open Forum
The problem with many entrepreneurs is not the absence of new ideas. As a matter of fact some entrepreneurs have multiple projects wanting to get off the ground, begging for focus and attention. In the end, all starts and nothing finished. No project. No results.
The tip are to:
l. Establish priorities.
2. Devote large chunks of time for projects that must be completed.
It is my idea that we should have them done completely soon one by one.
Constant follow up.
Find out when you are most productive and energized
How to keep your office organized - go paperless
Ateneo Professor on Entrepreneurship
From PC world
Being organized leads to higher productivity; tracking and finding paper can definitely lead to time loss and lost productivity. By having organized file keeping and recording, you can improve your productivity.
Some tips:
l. Go paperless;
2. Have digital note taking and filing
3. Organize your files and record keeping
From PC world
Being organized leads to higher productivity; tracking and finding paper can definitely lead to time loss and lost productivity. By having organized file keeping and recording, you can improve your productivity.
Some tips:
l. Go paperless;
2. Have digital note taking and filing
3. Organize your files and record keeping
Tuesday, September 11, 2012
Your resources, consultants for business start ups
Ateneo Professor on Entrepreneurship
From Blog intuit
You can have access to free consultants as you start your business. These are:
l. Linked in - if you are member, or you know somebody who is a member, you can ask questions and your query will be answered;
2. Micromentor;
3 National Entrepreneurship week
Other resources for free consultancy
From Blog intuit
You can have access to free consultants as you start your business. These are:
l. Linked in - if you are member, or you know somebody who is a member, you can ask questions and your query will be answered;
2. Micromentor;
3 National Entrepreneurship week
Other resources for free consultancy
8 reasons why small businesses fail
Ateneo Professor on Entrepreneurship
From blog intuit
Why do small businesses fail? Blog intuit lists down 8 reasons:
1. Erroneous entrepreneurial thinking . Why did you start the business in the first place? You might have started the business for the wrong reason.
2. Wrong location;
3. Hiring the wrong people;
4. Poor planning;
5. Ineffective marketing.
Other reasons why small businesses fail.
From blog intuit
Why do small businesses fail? Blog intuit lists down 8 reasons:
1. Erroneous entrepreneurial thinking . Why did you start the business in the first place? You might have started the business for the wrong reason.
2. Wrong location;
3. Hiring the wrong people;
4. Poor planning;
5. Ineffective marketing.
Other reasons why small businesses fail.
Secrets of Extraordinary customer service
Ateneo Professor on Entrepreneurship
From open forum on customer service
This post could have come from Customer for Life
Some of the keys for excellent customer service experience (UNIQCSX - our motto at Holy Gardens Memorial Park) areL
l. Underpromise overdeliver (Carl Sewell)
2. Call/remember the customer's names (Dale Carnegie)
3. The customer is always right; if he is wrong, go to the first statement;
More on open forum and customer service
From open forum on customer service
This post could have come from Customer for Life
Some of the keys for excellent customer service experience (UNIQCSX - our motto at Holy Gardens Memorial Park) areL
l. Underpromise overdeliver (Carl Sewell)
2. Call/remember the customer's names (Dale Carnegie)
3. The customer is always right; if he is wrong, go to the first statement;
More on open forum and customer service
Customer service mistakes that can happen to a company
Ateneo Professor on Entrepreneurship
From Open Forum on worse customer service experience
The customer service department is conflict driven: reduce costs and increase customer service experience, defend policy and be customer advocate. Some mistakes that makes the situation worse:
1. Treating customer service as a process rather than as an intimate personal experience.
2. Automation (using voice mail or pre recorded messages)
3. Failing to defend the brand
4. Being slave to customer surveys
Avoiding customer service traps.
From Open Forum on worse customer service experience
The customer service department is conflict driven: reduce costs and increase customer service experience, defend policy and be customer advocate. Some mistakes that makes the situation worse:
1. Treating customer service as a process rather than as an intimate personal experience.
2. Automation (using voice mail or pre recorded messages)
3. Failing to defend the brand
4. Being slave to customer surveys
Avoiding customer service traps.
Building a Beer Craft empire
Ateneo Professor on Entrepreneurship
From Open Forum: building a beercraft empire by Jim Koch
This is a story of Jim Koch who built the Boston Beer Company in 1984, at the age of 34, after he got tired of a corporate job. The family has been engaged in beercraft in 1800 but the beer mass production in 1900 forced that business into obscurity.
Armed with grandfather's beer recipe, Jim started the business with SBA loan of $l50,000 and and same amount of his own money. His initial product was Samuel Adams Boston Lager. The Boston Beer Company
His initial objective was to sell 5,000 barrels and $l,200,000 in the first five years; he was able to achieve that in 5 months. (Wow)
The niche that he entered was rich flavorful beer that did not exist at that time. All the beer then was light and watered down
They now sell 2.5 million barrels a year and employ more than 750 people
His start up story is interesting.
He is paying forward his success with Brewing the American Dream Program. It has helped/coached beverage entrepreneurs. Since its founding in 2008, it has helped 3,000 entrepreneurs and dispensed loans to 150 entrepreneurs.
Open Forum and Boston Beer empire building
From Open Forum: building a beercraft empire by Jim Koch
This is a story of Jim Koch who built the Boston Beer Company in 1984, at the age of 34, after he got tired of a corporate job. The family has been engaged in beercraft in 1800 but the beer mass production in 1900 forced that business into obscurity.
Armed with grandfather's beer recipe, Jim started the business with SBA loan of $l50,000 and and same amount of his own money. His initial product was Samuel Adams Boston Lager. The Boston Beer Company
His initial objective was to sell 5,000 barrels and $l,200,000 in the first five years; he was able to achieve that in 5 months. (Wow)
The niche that he entered was rich flavorful beer that did not exist at that time. All the beer then was light and watered down
They now sell 2.5 million barrels a year and employ more than 750 people
His start up story is interesting.
He is paying forward his success with Brewing the American Dream Program. It has helped/coached beverage entrepreneurs. Since its founding in 2008, it has helped 3,000 entrepreneurs and dispensed loans to 150 entrepreneurs.
Open Forum and Boston Beer empire building
Improving customer relationship
Ateneo Professor on Entrepreneurship
From Fox business center
When there is problem with customers, it is usually 80% of the time problem of the enterprise. Thus an audit of customer relationships must be conducted deep and regularly.
An interesting suggestion here is for the salesman/marketer to be agenda setter for the customer ie to suggest solutions rather than just products to the customer; e. g for client of a printer who just wants to print books, printing of brochures, fliers, or calling cards may be suggested.
Improving customer relationships
From Fox business center
When there is problem with customers, it is usually 80% of the time problem of the enterprise. Thus an audit of customer relationships must be conducted deep and regularly.
An interesting suggestion here is for the salesman/marketer to be agenda setter for the customer ie to suggest solutions rather than just products to the customer; e. g for client of a printer who just wants to print books, printing of brochures, fliers, or calling cards may be suggested.
Improving customer relationships
Focus on employee improvement
Ateneo Professor on Entrepreneurship
Focusing on future employee performance.
The start of growth of company is self improvement of the staff. How do you encourage improvement?
By focusing on performance
By having regular performance evaluation;
By sharing knowledge/mentoring
By taking small steps
It is about getting better
Focusing on future employee performance.
The start of growth of company is self improvement of the staff. How do you encourage improvement?
By focusing on performance
By having regular performance evaluation;
By sharing knowledge/mentoring
By taking small steps
It is about getting better
Free eBook - 7 Essential Stages of a Total Online Presence
From: John Jantsch <john@ducttapemarketing.com>
Date: Wed, Sep 5, 2012 at 8:08 PM
Subject: [Duct Tape] Free eBook - 7 Essential Stages of a Total Online Presence
Recently, I wrote a blog post outlining my thinking on the building of a total online presence and the fact that there are very specific stages that must be addressed one after another and very specific things your must do and must ignore when it comes to integrating all the incredible online options we now have as marketers.
The post was one of the most popular articles I've ever written so I decided to expand my thinking on the subject into a free eBook - the topic is just that important.
Today, I'm offering this free eBook to my readers and ask that you download and share it freely with any other business folks that need this information to help grow their businesses.
You can download it here:
7 Essential Stages of a Total Online Presence from Duct Tape Marketing
http://www.ducttapemarketing.com/online-presence
Hope you enjoy it!
John Jantsch
Duct Tape Marketing
Opt out or update your information here
https://ducttapemktg.infusionsoft.com/app/optOut/1/e24a6485052b7240/18086886/1ba2a87066d5586a
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Duct Tape Marketing
4806 Belleview Ave
Kansas City, Missouri 64112
United States
(866) 382-8273
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Date: Wed, Sep 5, 2012 at 8:08 PM
Subject: [Duct Tape] Free eBook - 7 Essential Stages of a Total Online Presence
Recently, I wrote a blog post outlining my thinking on the building of a total online presence and the fact that there are very specific stages that must be addressed one after another and very specific things your must do and must ignore when it comes to integrating all the incredible online options we now have as marketers.
The post was one of the most popular articles I've ever written so I decided to expand my thinking on the subject into a free eBook - the topic is just that important.
Today, I'm offering this free eBook to my readers and ask that you download and share it freely with any other business folks that need this information to help grow their businesses.
You can download it here:
7 Essential Stages of a Total Online Presence from Duct Tape Marketing
http://www.ducttapemarketing.com/online-presence
Hope you enjoy it!
John Jantsch
Duct Tape Marketing
Opt out or update your information here
https://ducttapemktg.infusionsoft.com/app/optOut/1/e24a6485052b7240/18086886/1ba2a87066d5586a
Duct Tape Marketing
4806 Belleview Ave
Kansas City, Missouri 64112
United States
(866) 382-8273
10 Dead Marketing Strategies to Dump
Ateneo Professor on Entrepreneurship
From Globe and Mail
The article suggests that there are 10 outdated marketing strategies that must be dumped immediately. Some of them:
l. Focussing on sales rather than customer service;
2. Cold canvass prospecting;
3. Using social media to advertise;
4. Stop spam email.
5. Stop spam mail
Other moribund marketing strategies to dump
From Globe and Mail
The article suggests that there are 10 outdated marketing strategies that must be dumped immediately. Some of them:
l. Focussing on sales rather than customer service;
2. Cold canvass prospecting;
3. Using social media to advertise;
4. Stop spam email.
5. Stop spam mail
Other moribund marketing strategies to dump
Who has the greater advantage? - Young or old entrepreneurs?
Ateneo Professor on Entrepreneurship
From Forbes
Who has greater advantage, asks this article from Forbes: the young or old entrepreneurs?
What is your guess?
Well, the article by Cheryl Conner says it is the younger entrepreneur. Why?
The first part of the report tells that.
l. The younger entrepreneur's energy level could never be higher?
2. Being younger, they are not afraid to challenge the status quo.
3. The younger entrepreneurs may be fairly poor
The other part of the report tells another story.
In the study of over 5,000 start ups since 2004 studied by Kauffman Ewing Foundation, those who made successful exits were founders older than 45. Similar studies by Babson college says that older entrepreneurs were more successful because of l. business experience, and 2, more financial resources.
Who are more successful, the young ones or once entrepreneurs?
From Forbes
Who has greater advantage, asks this article from Forbes: the young or old entrepreneurs?
What is your guess?
Well, the article by Cheryl Conner says it is the younger entrepreneur. Why?
The first part of the report tells that.
l. The younger entrepreneur's energy level could never be higher?
2. Being younger, they are not afraid to challenge the status quo.
3. The younger entrepreneurs may be fairly poor
The other part of the report tells another story.
In the study of over 5,000 start ups since 2004 studied by Kauffman Ewing Foundation, those who made successful exits were founders older than 45. Similar studies by Babson college says that older entrepreneurs were more successful because of l. business experience, and 2, more financial resources.
Who are more successful, the young ones or once entrepreneurs?
Monday, September 10, 2012
Transforming your marketing from sleepy to deadly
Ateneo Professor on Entrepreneurship
Now you can transform your marketing from sleepy to deadly. There is a video that tells us more on
Sideways sales letter
Please watch and try how this can transform your most important activity in your company: sales and marketing.
Now you can transform your marketing from sleepy to deadly. There is a video that tells us more on
Sideways sales letter
Please watch and try how this can transform your most important activity in your company: sales and marketing.
The truth about money.
Ateneo Professor on Entrepreneurship
The truth about money (From Early to Rise
Are you spending more time reading Craiglist or Groupon (how to spend money) rather than thinking on how to make more money? And yet there are many ways on how to make money or more money!!These are simply ignored by most in a consumer oriented company.
For example, in the Olympics, the athletes work so hard to improve their performance that they seem to be superhuman. US Olympic team rowers Jake Cornelius, Charlie LaCava and Charlie Cole worked just as hard to have financial independence and pursue pursue the American dream.
The truth about money (From Early to Rise
Are you spending more time reading Craiglist or Groupon (how to spend money) rather than thinking on how to make more money? And yet there are many ways on how to make money or more money!!These are simply ignored by most in a consumer oriented company.
For example, in the Olympics, the athletes work so hard to improve their performance that they seem to be superhuman. US Olympic team rowers Jake Cornelius, Charlie LaCava and Charlie Cole worked just as hard to have financial independence and pursue pursue the American dream.
The Palm Beach letter - how to get rich in the underground economy
Ateneo Professor on Entrepreneurship
The Palm Beach Letter.
You can get rich in the US underground economy (or for that matter anywhere in the world): currency, investments, real estate.
When the author moved to Palm Beach Florida, and was introduced to ordinary business, he found out that the ordinary business is riggged vs the individual poor investor. Thus he migrated to the underground economy.
In 3rd world countries, the underground economy could be 30-50% of the total economy
They are largely unregulated.
The regular mainstream economy is rigged to make money out the little man/investor.
Read more on the underground economy
You could get rich.
The Palm Beach Letter.
You can get rich in the US underground economy (or for that matter anywhere in the world): currency, investments, real estate.
When the author moved to Palm Beach Florida, and was introduced to ordinary business, he found out that the ordinary business is riggged vs the individual poor investor. Thus he migrated to the underground economy.
In 3rd world countries, the underground economy could be 30-50% of the total economy
They are largely unregulated.
The regular mainstream economy is rigged to make money out the little man/investor.
Read more on the underground economy
You could get rich.
Sunday, September 9, 2012
Are these guys merely seizing opportunities, or are they corrupt.
Ateneo Professor on Entrepreneurship
This is from Wall Street Daily authored by Louis Basense and Robert Williams
A lot has been discussed in the Unicorn paper, of public sector officials who made a killing on some investments, IPO, or shares of stocks that have been affected by the public policy that they just made.
Are they corrupt?
Is there conflict of interest
Or are they just practical to grab the opportunity to be rich in a legal way?
What do you think?
This is from Wall Street Daily authored by Louis Basense and Robert Williams
A lot has been discussed in the Unicorn paper, of public sector officials who made a killing on some investments, IPO, or shares of stocks that have been affected by the public policy that they just made.
Are they corrupt?
Is there conflict of interest
Or are they just practical to grab the opportunity to be rich in a legal way?
What do you think?
They are not budgetting well? Cash management is in shambles?
Ateneo Professor on Entrepreneurship
I was conversing last night with a relative who works in a Makati CBD company, engaged in real estate development. She joined the group because the pay was good, the business model and the visioning was OK.
However, last night, she remarked if ever the company will continue to survive.
I asked why?
They only have one on going project; the houses to be built with full dp are not being built, cf from take outs are not being delivered on time. Senior management rewarded themselves up front; they had instant gratification and did not wait for obligations to be paid first.
Some reperrcussions: agents are not being paid commissions on time and are leaving in droves;
cp bills are not being paid on time, they could not get gas on credit; investments are coming in and are being spent for opex (not capex) and appears like a Ponzi scheme.
While we a small set up in the province have sufficient dam management to see us for the next five years. It takes some kind of training to have stiff cash flow control and budgetting.
Yes, cash is still king
Some and maybe many companies maybe in Makati or Ortigas, may be lacking in managerial competence.
I was conversing last night with a relative who works in a Makati CBD company, engaged in real estate development. She joined the group because the pay was good, the business model and the visioning was OK.
However, last night, she remarked if ever the company will continue to survive.
I asked why?
They only have one on going project; the houses to be built with full dp are not being built, cf from take outs are not being delivered on time. Senior management rewarded themselves up front; they had instant gratification and did not wait for obligations to be paid first.
Some reperrcussions: agents are not being paid commissions on time and are leaving in droves;
cp bills are not being paid on time, they could not get gas on credit; investments are coming in and are being spent for opex (not capex) and appears like a Ponzi scheme.
While we a small set up in the province have sufficient dam management to see us for the next five years. It takes some kind of training to have stiff cash flow control and budgetting.
Yes, cash is still king
Some and maybe many companies maybe in Makati or Ortigas, may be lacking in managerial competence.
Saturday, September 8, 2012
Retaining employees
Ateneo Professor on Entrepreneurship
From blogging 4 jobs
It is one thing to have inefficient and non performing employees to quit or be fired; it is another thing to lose valuable employees.
Higher level of stress, no time off, etc can be source of resignations.
There are several counter measures to stave off unwanted resignations
l. Improve communications;
2. Set the right focus
3. Mentoring.
Regular performance reviews; reward the doers
From smartbrief
From blogging 4 jobs
It is one thing to have inefficient and non performing employees to quit or be fired; it is another thing to lose valuable employees.
Higher level of stress, no time off, etc can be source of resignations.
There are several counter measures to stave off unwanted resignations
l. Improve communications;
2. Set the right focus
3. Mentoring.
Regular performance reviews; reward the doers
From smartbrief
Pareto's principle in identifying most valuable customers
Ateneo Professor on Entrepreneurship
From open forum: powering business success
From our definition of marketing, the most important words are: "satisfying customer wants and needs better than competitors at a profit"
Your most profitable customers are most likely to be loyal customers (0 cost for acquiring) doing repeat sales and are reasonable in their demands/wants. The profitable few (20%)
It is important that we identify our valuable customers:
l. Remember that it is sales-cost = GP; you could be selling a lot to a "valued customer" but your costs may exceed your va/gp in the account
2. Testimonials and endorsements may earn you more sales, and lesser marketing costs (therefore make your customers happy)
3. Upselling and cross selling
4. Branding and celebrity endorsement
5. Feedback is valuable
Identifying valuable customers
From open forum: powering business success
From our definition of marketing, the most important words are: "satisfying customer wants and needs better than competitors at a profit"
Your most profitable customers are most likely to be loyal customers (0 cost for acquiring) doing repeat sales and are reasonable in their demands/wants. The profitable few (20%)
It is important that we identify our valuable customers:
l. Remember that it is sales-cost = GP; you could be selling a lot to a "valued customer" but your costs may exceed your va/gp in the account
2. Testimonials and endorsements may earn you more sales, and lesser marketing costs (therefore make your customers happy)
3. Upselling and cross selling
4. Branding and celebrity endorsement
5. Feedback is valuable
Identifying valuable customers
Using social media for competitive research.
Ateneo Professor on Entrepreneurship
From Small Business Trends.
The social media could be used for market research: twitter, facebook, Pininterest.
Since their tweets and fb posts are public, these are the things you can learn from them:
l. target market;
2. their mvp; theirs stories;
3. how do they treat competitors.
You can not afford not to have social media as a marketing tool
From Small Business Trends.
The social media could be used for market research: twitter, facebook, Pininterest.
Since their tweets and fb posts are public, these are the things you can learn from them:
l. target market;
2. their mvp; theirs stories;
3. how do they treat competitors.
You can not afford not to have social media as a marketing tool
How to budget like a Pro
Ateneo Professor on Entrepreneurship
Cash flow management is fundamental in running a business, especially a start up. Running out of cash is the cardinal sin in business - that is being bankrupt.
There are four tips on how to manage your budget like a pro (ours took almost 25 years before we made a sense out of it.)
l. Use off the shelf software like Dinero, Expenser, Freshbooks;
2. Ask around (the experts or business friends
3. Hire outside help
4. Overestimate (dam management) your expenses
Cash flow management is fundamental in running a business, especially a start up. Running out of cash is the cardinal sin in business - that is being bankrupt.
There are four tips on how to manage your budget like a pro (ours took almost 25 years before we made a sense out of it.)
l. Use off the shelf software like Dinero, Expenser, Freshbooks;
2. Ask around (the experts or business friends
3. Hire outside help
4. Overestimate (dam management) your expenses
25 Questions your website must answer
Ateneo Professor on Entrepreneurship
From small business trends/com
There are 25 questions that your website must answer upon customer's landing for the first time. Does your website have the answers/features.
Some of them:
l. Does your site have a search box? Is it navigable?
2. Is the company real?
3. What about testimonials?
4. Are there product reviews
Is your site on social media: Facebook, twitter,?
From small business trends/com
There are 25 questions that your website must answer upon customer's landing for the first time. Does your website have the answers/features.
Some of them:
l. Does your site have a search box? Is it navigable?
2. Is the company real?
3. What about testimonials?
4. Are there product reviews
Is your site on social media: Facebook, twitter,?
How a company engaged in social entrep managed sales cycles
Ateneo Professor on Entrepreneurship
Benevity, a company engaged in selling software to social entrep, so that they can manage their fund raising further had a tough time lessening their sales cycle. It took too long to close sales, and low closing ratios.
How did they solve the problems? Mr Bryan Lottenville, the head of Benevity is a corporate finance lawyer by training and was head of Iphotostock which was later sold to Getty Images for $50 million. He realized that his mindset was for profit (and not for non profit). He discovered that giving was not an urgent agenda in companies. And yet for Pres. Obama, he realized that there was a lot of microdonations going on. For ebay Giving Works raised $250 million for the last four years.
He made the following decisions for Benevity:
1. Identify more qualified leads;
2. Shorten time to close;
3. Increase numbe of conversions.
Results: From 200 days sales cyle to only 100 days., sales closing of 7% instead of 0.5%
Benevity, a company engaged in selling software to social entrep, so that they can manage their fund raising further had a tough time lessening their sales cycle. It took too long to close sales, and low closing ratios.
How did they solve the problems? Mr Bryan Lottenville, the head of Benevity is a corporate finance lawyer by training and was head of Iphotostock which was later sold to Getty Images for $50 million. He realized that his mindset was for profit (and not for non profit). He discovered that giving was not an urgent agenda in companies. And yet for Pres. Obama, he realized that there was a lot of microdonations going on. For ebay Giving Works raised $250 million for the last four years.
He made the following decisions for Benevity:
1. Identify more qualified leads;
2. Shorten time to close;
3. Increase numbe of conversions.
Results: From 200 days sales cyle to only 100 days., sales closing of 7% instead of 0.5%
FB stock price dives down further; when is it going to end.
Ateneo Professor on Entrepreneurship
From Newsmax Money: the Facebook stock price even dived down further to $l8.06 or $1.03 or (5.4%) This is from a concern that the growth of FB will not be as fast as was envisioned and that there will be massive sell - offs once the selling restrictions expire.
From a high of $45.00 on the IPO issue, the FB stocks steadily declined from a market cap of $l04 billion; it is down to $50 billion.. This represents a massive loss to the investors and does not help the fragile US economy
How will this development affect the US and Europe, the two biggest market in the world?
What besides the social media will be the next big thing for the electronics industry
From Newsmax Money: the Facebook stock price even dived down further to $l8.06 or $1.03 or (5.4%) This is from a concern that the growth of FB will not be as fast as was envisioned and that there will be massive sell - offs once the selling restrictions expire.
From a high of $45.00 on the IPO issue, the FB stocks steadily declined from a market cap of $l04 billion; it is down to $50 billion.. This represents a massive loss to the investors and does not help the fragile US economy
How will this development affect the US and Europe, the two biggest market in the world?
What besides the social media will be the next big thing for the electronics industry
Thursday, September 6, 2012
Words to avoid saying to your employees
Ateneo Professor on Entrepreneurship
In order to motivate your staff further, you have to empathize with them and not to hurt their feelings.
This intuit blog lists down the phrase to avoid:
l. We have always done it that way;
2. We know how you feel;
3. You need to be team player
Other phrases to avoid when talking to employees.
In order to motivate your staff further, you have to empathize with them and not to hurt their feelings.
This intuit blog lists down the phrase to avoid:
l. We have always done it that way;
2. We know how you feel;
3. You need to be team player
Other phrases to avoid when talking to employees.
Truths about franchising
Ateneo Professor on Entrepreneurship
Ateneo Professor on Entrepreneurship
Which is better: starting your own, or buying a franchise? Before, I did not accept franchises as BP for the simple reason that a franchise is well tried and true business plan/formula. No need to be creative which is being developed in business plan writing.
In the PHL thanks to Mr. Samie Lim (a classmate in college, the father of franchising in the PHL), franchising has grown by leaps and bound in the PHL. However in US, Franchising will grow (in line with their GDP growth) by only l.9%.
Some truths about franchising:
l. It will cost you more; do not believe the all in package price;
2, No room for creativity; the operational and marketing support are cut and dried;
3. The local marketing (LSM) is subject/vulnerable to the overall impression of the brand, nationwide/worldwide.
3. things you should know about buying a franchise.
If you are the creative/dominant type, franchise is not for you.
Ateneo Professor on Entrepreneurship
Which is better: starting your own, or buying a franchise? Before, I did not accept franchises as BP for the simple reason that a franchise is well tried and true business plan/formula. No need to be creative which is being developed in business plan writing.
In the PHL thanks to Mr. Samie Lim (a classmate in college, the father of franchising in the PHL), franchising has grown by leaps and bound in the PHL. However in US, Franchising will grow (in line with their GDP growth) by only l.9%.
Some truths about franchising:
l. It will cost you more; do not believe the all in package price;
2, No room for creativity; the operational and marketing support are cut and dried;
3. The local marketing (LSM) is subject/vulnerable to the overall impression of the brand, nationwide/worldwide.
3. things you should know about buying a franchise.
If you are the creative/dominant type, franchise is not for you.
Use of emails for effective marketing
Ateneo Professor on Entrepreneurship
Despite the presence of Social Marketing, emails can still be an effective way of connecting with your customers. Using inbound and permission marketing techniques (making the customers subscribe first to your website by free reward: e book or additional information) you can email them regularly a newsletter (I get regularly emails like Newmax, Barton Publishing Dr Mercola etc. sites that I have subscribed to. Hopefully in due time, people will subscribe to this blog.) The customer can always unsubscribe. For those who have anti spamming program, the emails must first be whitelisted.
Some of the techniques for email marketing:
l. Get personal (your site is not a nameless impersonal entity) it is human and is responsive;
2 Be responsive
3. Provide value
4. Have clear call to action - Buy now, reserve now
Despite the presence of Social Marketing, emails can still be an effective way of connecting with your customers. Using inbound and permission marketing techniques (making the customers subscribe first to your website by free reward: e book or additional information) you can email them regularly a newsletter (I get regularly emails like Newmax, Barton Publishing Dr Mercola etc. sites that I have subscribed to. Hopefully in due time, people will subscribe to this blog.) The customer can always unsubscribe. For those who have anti spamming program, the emails must first be whitelisted.
Some of the techniques for email marketing:
l. Get personal (your site is not a nameless impersonal entity) it is human and is responsive;
2 Be responsive
3. Provide value
4. Have clear call to action - Buy now, reserve now
7 Big Lessons from small start ups
Ateneo Professor on Entrepreneurship
Big lessons can be learned from small business start ups:
l. Tap into existing networks (2nd lesson in effectuation entrepreneurship)
2. Your local chamber supports small business;
3. It is never late to start a new business
Big lessons can be learned from small business start ups:
l. Tap into existing networks (2nd lesson in effectuation entrepreneurship)
2. Your local chamber supports small business;
3. It is never late to start a new business
Changing mindsets/paradigm, on management
Ateneo Professor on Entrepreneurship
There has been a lot of changes on management paradigm. What was true then could not be very reliable ideas now.
As Goethe said: Boon --> afflictions. All boons degenerate into afflictions.
Even management theories change in their effectiveness; so what ideas have become passe/obsolete:
l. Leadership;
2. Human resources
3. Consensus
4. Customer focus
5. Brainstorming
There has been a lot of changes on management paradigm. What was true then could not be very reliable ideas now.
As Goethe said: Boon --> afflictions. All boons degenerate into afflictions.
Even management theories change in their effectiveness; so what ideas have become passe/obsolete:
l. Leadership;
2. Human resources
3. Consensus
4. Customer focus
5. Brainstorming
Where do bright ideas come from - even from the finance chief depar
Ateneo Professor on Entrepreneurship
This is a story from Inc of a very successful new product. The idea did not come from R & D or marketing, but of all places from the finance chief. The new product was hypoallergenic natural face wipes (cucumber)
The finance chief used to present new ideas but this time he was more passionate. In the product presentation to a prospect, he was cut off by the customer; the customer said they will a new bestseller soon.
My mother told me, during the heyday of the Unisun growth that the way for her to screen my ideas was to determine my dogged determination. If I keep on pestering her with a new idea, that idea would likely take off. Not all ideas get that same amount of determination.
Where to get best selling ideas? From everywhere in your company
This is a story from Inc of a very successful new product. The idea did not come from R & D or marketing, but of all places from the finance chief. The new product was hypoallergenic natural face wipes (cucumber)
The finance chief used to present new ideas but this time he was more passionate. In the product presentation to a prospect, he was cut off by the customer; the customer said they will a new bestseller soon.
My mother told me, during the heyday of the Unisun growth that the way for her to screen my ideas was to determine my dogged determination. If I keep on pestering her with a new idea, that idea would likely take off. Not all ideas get that same amount of determination.
Where to get best selling ideas? From everywhere in your company
Enemies of customer service - growth and scalability
Ateneo Professor on Entrepreneurship
Customer service problem crop up becasue of l. growth and scaling up.
When companies, grow, personalized customer service is lost; automation makes it easier for company, but not for customers.
Changes, systems must be made in such a way that the contact to the customer is maintained, or even heightened. and not lost. Key to outstanding customer service
Customer service problem crop up becasue of l. growth and scaling up.
When companies, grow, personalized customer service is lost; automation makes it easier for company, but not for customers.
Changes, systems must be made in such a way that the contact to the customer is maintained, or even heightened. and not lost. Key to outstanding customer service
Disaster preparedness
Ateneo Professor on Entrepreneurship
As businesses in Phil (and elsewhere) continuously face disaster like floods and earthquakes (in Samar and Bukidnon) disaster preparedness for business is a must; As this being written, US is bracing for hurricane Isaac.
Some guidelines for disaster preparedness
l. Back up back up back up (via hardware, or cloud)
2 Insure:
l. For floods (only in US)
2. wind damage? (only in US)
3, property damage
3. with hardware:
1. gensets;
2. power supplies
3. cp from other carriers.
Disaster planning in 6 steps from Inc
As businesses in Phil (and elsewhere) continuously face disaster like floods and earthquakes (in Samar and Bukidnon) disaster preparedness for business is a must; As this being written, US is bracing for hurricane Isaac.
Some guidelines for disaster preparedness
l. Back up back up back up (via hardware, or cloud)
2 Insure:
l. For floods (only in US)
2. wind damage? (only in US)
3, property damage
3. with hardware:
1. gensets;
2. power supplies
3. cp from other carriers.
Disaster planning in 6 steps from Inc
Wednesday, September 5, 2012
Fwd: ‘Rebel Entrepreneur’ Author Jonathan Moules on Breaking the Rules
---------- Forwarded message ----------
From: Intuit Small Business Blog <blog@intuit.com>
Date: Fri, Aug 31, 2012 at 8:06 PM
Subject: 'Rebel Entrepreneur' Author Jonathan Moules on Breaking the Rules
Intuit Small Business, 190 Jefferson Dr, Menlo Park, CA 94025, USA
From: Intuit Small Business Blog <blog@intuit.com>
Date: Fri, Aug 31, 2012 at 8:06 PM
Subject: 'Rebel Entrepreneur' Author Jonathan Moules on Breaking the Rules
| ||||||||
Intuit Small Business Blog: Home | Money | Marketing | Employees | Trends | Local | Inner Circle
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Terms and conditions, features, support, pricing, and service options subject to change without notice.
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Corporate: Products A-Z | Contact Us | Careers | Privacy | Security | Legal | Intuit Labs | About Intuit
© 2011 Intuit, Inc. All rights reserved. Intuit and QuickBooks are registered trademarks of Intuit, Inc.
Terms and conditions, features, support, pricing, and service options subject to change without notice.
You are receiving the Intuit Small Business Blog email newsletter because profjorge.entrep@gmail.com subscribed. We're glad you signed up and hope you enjoy and share these articles. To unsubscribe, just go to http://www.aweber.com/z/r/?TIxMDMys7LSsjJwMbCysnLRGtIysrAxsDOyM
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