Ateneo Professor on Entrepreneurship
Rizal Philippines | December 31, 2013
There is a shortage of buko before new year. The price has escalated more than oil prices?
Blame it on Bukonomics ( and bikeconomics)
In Leyte, there was this Yeronomics; the price of roofing went up 2x because of the scarcity of GI sheets.
If you understand this, you understand economics - wise and efficient use of scarce resources. And when they are scarce, the price goes up. Thus you can raise prices by creating artificial shortage.
Thus when marketing people in Ferrari says that the potential demand for a Ferrari model is 2, 000, he orders his factory to produce 300, he doubles the price and there is a long line of waiting buyers. What is that Ferrarinomics?
You call that wise. Smart. Entrepreneurial. Opportunity seizing
Less is really more.
Tuesday, December 31, 2013
Mind of Strategist by Kenichi Ohmae
Ateneo Professor on Entrepreneurship
Rizal | Philippines | December 31, 2013
It is just 7 hours before 2014 and here I am collecting my thoughts on business, management entrepreneurship, and strategy.
I am reminded of Kenichi Ohmae, one of the most brilliant business strategic thinker of the modern times. He must have advised hundreds of Japanese businesses develop winning strategy.
He is more well known for the 3C triangle: company, competition and customer. I remember him for emphasizing the Sales - Cost = GP equation and having a long road map for this;
1. All businesses should emphasize sales/selling growth in sales. All top efforts must be made to sell. Investments must be made for selling. Selling comes first. Selling is top priority. It is a key activity, as fighting, destroying the enemy is in warfare/military. Make no mistake about this.
Thus what do you do:
1. Bundling
2. Upselling
3. Use all marketing channels: below the line, above the line, internet marketing. Use autoresponders in internet marketing. Do viral marketing etc.
Rizal | Philippines | December 31, 2013
It is just 7 hours before 2014 and here I am collecting my thoughts on business, management entrepreneurship, and strategy.
I am reminded of Kenichi Ohmae, one of the most brilliant business strategic thinker of the modern times. He must have advised hundreds of Japanese businesses develop winning strategy.
He is more well known for the 3C triangle: company, competition and customer. I remember him for emphasizing the Sales - Cost = GP equation and having a long road map for this;
1. All businesses should emphasize sales/selling growth in sales. All top efforts must be made to sell. Investments must be made for selling. Selling comes first. Selling is top priority. It is a key activity, as fighting, destroying the enemy is in warfare/military. Make no mistake about this.
Thus what do you do:
1. Bundling
2. Upselling
3. Use all marketing channels: below the line, above the line, internet marketing. Use autoresponders in internet marketing. Do viral marketing etc.
Saturday, December 21, 2013
Free Ads for Entrepreneur - Use them to your advantage while you still do not have advertising resources
Ateneo Professor on Entrepreneurship
You may want to have exposure for your product for free. Here is one post that enables you to do this free for an international market. Here in the Phil: the free ads sites are:
1. Sulit (nor merged with OLX)
2. Ahyos dito
3. Craiglist
Use them to the hilt
You may want to have exposure for your product for free. Here is one post that enables you to do this free for an international market. Here in the Phil: the free ads sites are:
1. Sulit (nor merged with OLX)
2. Ahyos dito
3. Craiglist
Use them to the hilt
Getting traiffic to your blog via opt in - internet marketing
Ateneo Professor on Entrepreneurship
This is a repetition of the previous statements that in order to build an LCP, you need : a free web/blog site, a marketing software like A Weber, Chimp Mail (but this is ugly) Magic Response, Get Response which are complete platform: capturing email (opt in), template for the opt in, landing page, and template for newsletters and emails.
You must however concentrate in creating an attractive magnet to draw in those who will be your future buyers. Concentrate on making your landing page:
1. Simple
2. Attractive
3. Magnetic
4. Compelling
How to generate more leads/traffic with opt in forms:
Adding opt in to your blog
This is a repetition of the previous statements that in order to build an LCP, you need : a free web/blog site, a marketing software like A Weber, Chimp Mail (but this is ugly) Magic Response, Get Response which are complete platform: capturing email (opt in), template for the opt in, landing page, and template for newsletters and emails.
You must however concentrate in creating an attractive magnet to draw in those who will be your future buyers. Concentrate on making your landing page:
1. Simple
2. Attractive
3. Magnetic
4. Compelling
How to generate more leads/traffic with opt in forms:
Adding opt in to your blog
How to put in free Opt In in Your Website
Ateneo Professor on Entrepreneurship
Free Capture Page (Using Wordpress Blog) and A Weber
www.aweber.gainmindshare
Using Google Docs to Create Opt in
Free Capture Page (Using Wordpress Blog) and A Weber
www.aweber.gainmindshare
Using Google Docs to Create Opt in
More on Creating LCP (Landing Capture Page)
Ateneo Professor on Entrepreneurship
Creating Capture Page with AWeber
You need to employ internet marketing to generate your lists/leads. Without leads/prospects, there could be no sales. List become the sale/money for the business. You may have great blogs, webs, social media, but without lead generation, there could be no increase sales.
Lead generation is about getting email addresses. Without the email addresses, all internet marketing (outbound) is useless. You have to get that email address.
Email owners though have gotten around this strategy of marketers by having anti spam filters, and having the law on their side. Thus the opt in, (permission marketing ) was born. This is also called "permission marketing" You will not send any email to the recipient unless you have his permission. He has to send in his email via: squeeze page, landing page or via opt in web form. This is what Landing Page Creation is all about
A weber and Mail Chimp seem to be the commonly availabe opt in package. A weber starts with $1.00/per month. and charges rises accordingly according to the volume/number of email in the lists. It does 3 things: webform generation, creating the lists gathered from the opt in, and sending emails/web emailsl in bulk.
In the beginning you may do the following: get the web form, have the email gathered in google docs or in another web page
Creating Capture Page with AWeber
You need to employ internet marketing to generate your lists/leads. Without leads/prospects, there could be no sales. List become the sale/money for the business. You may have great blogs, webs, social media, but without lead generation, there could be no increase sales.
Lead generation is about getting email addresses. Without the email addresses, all internet marketing (outbound) is useless. You have to get that email address.
Email owners though have gotten around this strategy of marketers by having anti spam filters, and having the law on their side. Thus the opt in, (permission marketing ) was born. This is also called "permission marketing" You will not send any email to the recipient unless you have his permission. He has to send in his email via: squeeze page, landing page or via opt in web form. This is what Landing Page Creation is all about
A weber and Mail Chimp seem to be the commonly availabe opt in package. A weber starts with $1.00/per month. and charges rises accordingly according to the volume/number of email in the lists. It does 3 things: webform generation, creating the lists gathered from the opt in, and sending emails/web emailsl in bulk.
In the beginning you may do the following: get the web form, have the email gathered in google docs or in another web page
How to start money with no money! Possible. If you have no money, some people think you are a scammer
Ateneo Professor on Entrepreneurship
Create on line store tutorial
Ateneo Professor on Entrepreneurship
Create an on line store video tutorial:
Create an on line store video tutorial:
Opt in tactics for your web site
Ateneo Professor on Entrepreneurship
You may use your own website, Weebly, blog: wordpress or blogger to put in your opt in/offer, even in FB to have your permission marketing form. I dont know if A weber has still a free form.
I think it is cheaper and more convenient to subscribe to A weber because it does 4 things for you:
1. Generate Web form
2. Create the list (coming from the opt in)
3. Auto responder (to the emails)
4. Send bulk emails/campaign internet materials: from web email, or blog posts. Wow
Google Opt in
Creating an order form
You may use your own website, Weebly, blog: wordpress or blogger to put in your opt in/offer, even in FB to have your permission marketing form. I dont know if A weber has still a free form.
I think it is cheaper and more convenient to subscribe to A weber because it does 4 things for you:
1. Generate Web form
2. Create the list (coming from the opt in)
3. Auto responder (to the emails)
4. Send bulk emails/campaign internet materials: from web email, or blog posts. Wow
Google Opt in
Creating an order form
Create high quality landing pages
Ateneo Professor on Entrepreneurship
You can draw in more opt in if it is an attractive landing page
An important part step of email marketing is creating landing pages. It seems to be understood very well by webmaster. But as entrepreneur, you must understand this and even learn how it is done so that you can get the right designer, or software for your company
You need a landing page, a third party website to collect email addresses, an autoresponder: to thank those who subscribed, send email blast, or even newsletters. There are free sites but they do not have attractive templates. A weber and Get Response are those sites that I think give best templates and complete platform to do your email marketing. A weber monthly is steeper. $19.00/month, Get Response is $15.00. I will go for Get Response
By Kevin Timothy
You need a free website/blog hosting, Autoresponder say from A weber, Mail chimp
How and what is Lead Capture Page
It is the first page for the customer. The purpose is to capture contact information. The lead capture page utilize the power of follow up. Most of those who visit your page must be followed up.
Features:
1. It must be simple
2. It must load quickly
3. It must mention the benefits for the customer to give his email
4. It must have CTA (call to action: submit, get now, Go, Enter)
You can draw in more opt in if it is an attractive landing page
An important part step of email marketing is creating landing pages. It seems to be understood very well by webmaster. But as entrepreneur, you must understand this and even learn how it is done so that you can get the right designer, or software for your company
You need a landing page, a third party website to collect email addresses, an autoresponder: to thank those who subscribed, send email blast, or even newsletters. There are free sites but they do not have attractive templates. A weber and Get Response are those sites that I think give best templates and complete platform to do your email marketing. A weber monthly is steeper. $19.00/month, Get Response is $15.00. I will go for Get Response
By Kevin Timothy
You need a free website/blog hosting, Autoresponder say from A weber, Mail chimp
How and what is Lead Capture Page
It is the first page for the customer. The purpose is to capture contact information. The lead capture page utilize the power of follow up. Most of those who visit your page must be followed up.
Features:
1. It must be simple
2. It must load quickly
3. It must mention the benefits for the customer to give his email
4. It must have CTA (call to action: submit, get now, Go, Enter)
Building your email list to boost your marketing; part of email/internet marketing
Ateneo Professor on Entrepreneurship
From Jeff Walker at You Tube
There are two things you must do for your business are: build/create products that people like and need and have a prospect list (email.) You reader, visitor will leave and come back to your post again. You must add to your list consistently.
Your list can build business for you - thousands and thousands of sales.
The money is in the list.
How to build an Email list
How to build 500 high quality leads in two weeks
Build multiple juicers for your site: twitter, facebook, You tube. Build a site magnet that will attract visitors to your site. Have trending articles, have informative articles. Put opt in landing page on top left of your blog, site. Put no distraction on your landing page
Have a culture/process of collecting email addresses It is an important activity
You may not have an automatic system. But asking for email from customers, inquiries would be used for business purposes to facilitate communications: sending invoices, servicing.
1. Add your email in your your invoices and literature. If they email you you have their email.
2. Ask for email addresses everytime the phone rings.
3. Offer discounts for on line transaction
4. All staff must be properly trained.
There are six other that you should know from this video
Change your culture. Be email adds minded
Extracting Email adds from facebook
But this could created problem because there is no permission. Permission marketing (0pt in is the name of the ball game for email marketing
Email opt list building
From Jeff Walker at You Tube
There are two things you must do for your business are: build/create products that people like and need and have a prospect list (email.) You reader, visitor will leave and come back to your post again. You must add to your list consistently.
Your list can build business for you - thousands and thousands of sales.
The money is in the list.
How to build an Email list
How to build 500 high quality leads in two weeks
Build multiple juicers for your site: twitter, facebook, You tube. Build a site magnet that will attract visitors to your site. Have trending articles, have informative articles. Put opt in landing page on top left of your blog, site. Put no distraction on your landing page
Have a culture/process of collecting email addresses It is an important activity
You may not have an automatic system. But asking for email from customers, inquiries would be used for business purposes to facilitate communications: sending invoices, servicing.
1. Add your email in your your invoices and literature. If they email you you have their email.
2. Ask for email addresses everytime the phone rings.
3. Offer discounts for on line transaction
4. All staff must be properly trained.
There are six other that you should know from this video
Change your culture. Be email adds minded
Extracting Email adds from facebook
But this could created problem because there is no permission. Permission marketing (0pt in is the name of the ball game for email marketing
Email opt list building
Legal pitfalls that can sink your business
Ateneo Professor on Entrepreneurship
From Intuit | December 19, 2013
Commercial laws govern our trade, commerce and business. In US particularly, intellectual property, copyright laws rather than property rights are stricter as provided for in the constitution of US. Thus businesses must be wary, must be careful when it comes into law, regulations and its violation. Litigation costs money and damages can be punitive.
The four areas that businessmen should be concerned:
1. Intellectual property rights,
2. Equitable enforcement of HR/labor policies
3. Use of creative assets
4. Handling disputes on your own
From Intuit | December 19, 2013
Commercial laws govern our trade, commerce and business. In US particularly, intellectual property, copyright laws rather than property rights are stricter as provided for in the constitution of US. Thus businesses must be wary, must be careful when it comes into law, regulations and its violation. Litigation costs money and damages can be punitive.
The four areas that businessmen should be concerned:
1. Intellectual property rights,
2. Equitable enforcement of HR/labor policies
3. Use of creative assets
4. Handling disputes on your own
US economy grows at a faster rate in 2013
Ateneo Professor on Entrepreneurship
Actual was higher than the initial estimate
From Huff Post | Politics | 12.20.2013
From Forbes
From WSJ on line news | December 20 2013
From Reuters.
US economy grew at 4.1% and consumer spending is stronger than expected and business spending was up 4.8% better than expected. It is the fastest rate since 2011. Equipment spending of business was 0.2 and is better than flat spending before. Consumer spending grew at 1.2%. Is the Fed stimulus working at last?
Are the US prophets of doom wrong?
I would like to think that US business is strong, but US politics and bureacracy sucks. The latter affects business performance.
But this strong performance should boost the image of the current leadership of USA and maybe lift US out of its financial difficulties.
Actual was higher than the initial estimate
From Huff Post | Politics | 12.20.2013
From Forbes
From WSJ on line news | December 20 2013
From Reuters.
US economy grew at 4.1% and consumer spending is stronger than expected and business spending was up 4.8% better than expected. It is the fastest rate since 2011. Equipment spending of business was 0.2 and is better than flat spending before. Consumer spending grew at 1.2%. Is the Fed stimulus working at last?
Are the US prophets of doom wrong?
I would like to think that US business is strong, but US politics and bureacracy sucks. The latter affects business performance.
But this strong performance should boost the image of the current leadership of USA and maybe lift US out of its financial difficulties.
Security in an insecure world if you are an entrepreneur
Here is from Jeff Walker
So right after Thanksgiving I took off on a little
planning retreat - I just love to take the time to
"create" my next year and beyond...
In any case, I couldn't help but be grateful for
the security that being an entrepreneur gives
Are you secure as an entrepreneur by Jeff Walker
best regards,
Jeff
planning retreat - I just love to take the time to
"create" my next year and beyond...
In any case, I couldn't help but be grateful for
the security that being an entrepreneur gives
us... and I ended up shooting a quick video for you...
Are you secure as an entrepreneur by Jeff Walker
best regards,
Jeff
Secret of success in 4 letters; you have to work hard. WORK IS INVOLVED
Whats the technological advantage in iPhone 5s that is freaking out competition?
Ateneo Professor on Entrepreneurship
Rizal Philippines | December 21, 2013
From HuffPost Tech by Dan Lyons | December 18, 2013
From BGR.com | Apple surprises market with 64 bit A7 processor by Chris Smith | December 17, 2013
What is one feature in iPhone that is being downplayed in iPhone 5s that caught many smartphone competitors by surprise, and are downplaying right now? Qualcomm CMO says it is a marketing gimmick. But in reality, it is not. Look at the graph below showing its speed
It is the superfastt A7 64 bit microprocessor. It has been in PC for a while but Apple was the first one to put this in smartphone. It means the iPhone can process large chunks of data much faster than a 32 bit smartphone.
And now everybody is on a catch up mode. It is not a simple matter of putting in the microprocessor; the software has to be integrated also. Samsung announced that it will join the 64 bit race and so with Qualcomm (maybe one year after). By that time, it is kind of late.
What is the advantage companies: being the first to commercialize an innovation. And Apple so far has been successful. It is not the discovery or invention nor the innovation gene, but getting to the market first. It takes some kind of discipline and leadership to constantly be the first in market place, not the first with ideas.
I am not an Apple discipline nor a blogger for Apple. I am just reciting the data as I see them.
Rizal Philippines | December 21, 2013
From HuffPost Tech by Dan Lyons | December 18, 2013
From BGR.com | Apple surprises market with 64 bit A7 processor by Chris Smith | December 17, 2013
What is one feature in iPhone that is being downplayed in iPhone 5s that caught many smartphone competitors by surprise, and are downplaying right now? Qualcomm CMO says it is a marketing gimmick. But in reality, it is not. Look at the graph below showing its speed
It is the superfastt A7 64 bit microprocessor. It has been in PC for a while but Apple was the first one to put this in smartphone. It means the iPhone can process large chunks of data much faster than a 32 bit smartphone.
And now everybody is on a catch up mode. It is not a simple matter of putting in the microprocessor; the software has to be integrated also. Samsung announced that it will join the 64 bit race and so with Qualcomm (maybe one year after). By that time, it is kind of late.
What is the advantage companies: being the first to commercialize an innovation. And Apple so far has been successful. It is not the discovery or invention nor the innovation gene, but getting to the market first. It takes some kind of discipline and leadership to constantly be the first in market place, not the first with ideas.
I am not an Apple discipline nor a blogger for Apple. I am just reciting the data as I see them.
Wednesday, December 18, 2013
US Homes can be without power after December 30 2013
Ateneo Professor on Entrepreneurship
From Angel Nexus
American Homes could be in the dark because of shortage of Uranium. 31 states in the US are powered up by nuclear energy. And most of the uranium comes from dismantled 20,000 Russian warheads.
Demand from US nuclear power plants is 43 million pounds of uranium. US can supply only 10% of this. The last supply of uranium from Russia ends two weeks from now. And there is no way by which the supply grid can be replaced soon?
Russia is no mood, especially USSR President Putin, with his criticism of US exceptionalism is in a mood to renew or extend the supply contract. What will US do next?
What is the crisis, the opportunity?
From Angel Nexus
American Homes could be in the dark because of shortage of Uranium. 31 states in the US are powered up by nuclear energy. And most of the uranium comes from dismantled 20,000 Russian warheads.
Demand from US nuclear power plants is 43 million pounds of uranium. US can supply only 10% of this. The last supply of uranium from Russia ends two weeks from now. And there is no way by which the supply grid can be replaced soon?
Russia is no mood, especially USSR President Putin, with his criticism of US exceptionalism is in a mood to renew or extend the supply contract. What will US do next?
What is the crisis, the opportunity?
What are the deadliest threat to society?
Ateneo Professor on Entrepreneurship
From Angel Nexus
Well they are deadly viral diseases like the plague from the flu. This could be the bird flu just like the Spanish flu that killed millions in the l900. Another deadly disease is cancer.
But there is an antidote - genetic vaccine. This being developed a small cap company that could provide l00% up to 1,000 gains. Read more about this
From Angel Nexus
Well they are deadly viral diseases like the plague from the flu. This could be the bird flu just like the Spanish flu that killed millions in the l900. Another deadly disease is cancer.
But there is an antidote - genetic vaccine. This being developed a small cap company that could provide l00% up to 1,000 gains. Read more about this
What is Society's Deadliest Threat - from Energy and Capital
Here is the latest feed from Energy and Capital. They are rather different and unnerving. But for entrepreneurs represent great opportunity. They cover wide range of topics from bio tech, to energy and capital and even IT
Read more
Read more
Top experts reveal their juiciest secrets on how to grow empires in expo
This is a pitch to sell an event of expert. I do not expect to attend this. The ticket must be expensive.
-
More People Giving Up US Citizenship; Canada Plans to Spy On Social Media 24-7
Here are some noteworthy posts from Newsmax:
1. The oil discovery in Coober Pedy in South Australia is a significant find; it will make Australia an oil exporter with oil reserves greater than that of Brazil and even with Saudi. Will this make people waste fossil fuel even more? Will energy conservation, focus on renewalbes lose steam?
2. The number of US Citizens giving up their citizenship is 2369 up from 1,781. The main reason is tax avoidance. And doing transaction with banks. Americans who do transactions with banks have to report the American financial transaction to US IRS. The downside is that those who renounce US citizenship may not recover the same as provided by Reed Amendment of 1996, if their purpose of renouncing citizenship is avoidance of taxes
1. The oil discovery in Coober Pedy in South Australia is a significant find; it will make Australia an oil exporter with oil reserves greater than that of Brazil and even with Saudi. Will this make people waste fossil fuel even more? Will energy conservation, focus on renewalbes lose steam?
2. The number of US Citizens giving up their citizenship is 2369 up from 1,781. The main reason is tax avoidance. And doing transaction with banks. Americans who do transactions with banks have to report the American financial transaction to US IRS. The downside is that those who renounce US citizenship may not recover the same as provided by Reed Amendment of 1996, if their purpose of renouncing citizenship is avoidance of taxes
What is More Profitable Than Apple? What else?
What is more profitable than Apple? Oranges?
Well it is Samsung. Samsung shipped 88 million phones vs Apples 33.8 million only Apple controls only 13.4 % of the smartphone market down from l5.6% . In Q3, Samsung shipments grew by 55%. Samsung earned $ 7.6 last quarter vs $7.5 of Apple. Which is the better bet? Where would you invest?
Well it is Samsung. Samsung shipped 88 million phones vs Apples 33.8 million only Apple controls only 13.4 % of the smartphone market down from l5.6% . In Q3, Samsung shipments grew by 55%. Samsung earned $ 7.6 last quarter vs $7.5 of Apple. Which is the better bet? Where would you invest?
Factors Paper by EJ
Resending Factors Paper sent on September 10, 2013
Also uploaded at:
Factors Paper in
Entrepreneurship
MBA Standard Program
Emmanuel Junio
Student
Factors Paper: Entrepreneurial Self-Assessment
I. Background
Am I ready to become an Entrepreneur? Do I have what it takes to become a successful entrepreneur..? These are some of the questions which boggle my mind as I take this class. One thing is for sure, I have to find out. But then, again.. How?
II. Assessment
To initially assess myself, I decided to take an Entrepreneurial Assessment from the Internet. I found www.bdc.ca and took my first ever Entrep Test. Hungry for more proofs, and not to call it luck, I searched for more sites, and took more test from www.mvp.cfee.org, and www.forbes.com. Below are the results.
How to interpret your results?
Your results are displayed with blue horizontal bands. A red vertical band shows the mean score of entrepreneurs.
If the horizontal range of your results does not exceed the vertical range, it means that your results for this dimension are below the average obtained by entrepreneurs.
If the horizontal range exceeds the vertical range, your results are above average.
|  |
Results
General profile
|
170
|  |  | |
59
| | |||
72
| |  | ||
39
| |  |
YOUR MOTIVATIONS
Motivation factors determine behaviour. They are the underlying reasons that induce someone to act.
Motivation
|
59
| | ||
14
| | |||
20
| | | ||
18
| |  | ||
7
|  |
YOUR APTITUDES
Aptitudes are natural inclinations, competencies, abilities. Certain aptitudes predispose someone to be an entrepreneur.
Aptitudes
|
72
| | | |
15
| | | ||
16
| | | ||
20
| |  | ||
21
| |
YOUR ATTITUDES
Attitudes are made up of perceptions, our feelings about something. They are judgements we make, ways we look at things.
Attitudes
|
39
| | | |
21
| |  | ||
18
| | |
NOTE
This questionnaire was prepared on the basis or research and observations of the characteristics of Canadian entrepreneurs in all industry sectors. On average, entrepreneurs tend to obtain overall results that are higher than those of the general population, and this for all characteristics. Granted, the mere fact of obtaining – or failing to obtain – results in line with those of entrepreneurs is not enough to indicate your potential as an entrepreneur. Many other factors come into play, including your personal circumstances, your milieu, your experience, timing, etc. What these results will do, however, is allow you to compare your answers to those of a group of entrepreneurs, and to note where they are the same and where they are different.
Source: http://www.bdc.ca/EN/advice_centre/benchmarking_tools/Pages/entrepreneurial_self_assessment.aspx
Your score is 32.
You already share many key attributes of entrepreneurs. If you have not yet decided to become an entrepreneur, you should give it serious consideration.
Your score is 26.
You probably share similar skill levels with most successful entrepreneurs. (But you can always improve!)
Kauffman FastTrac® Entrepreneurial Characteristics Survey
Score: 40 to 51
You ARE an entrepreneur. With proper planning and consideration, you are driven and rewarded by innovation and problem solving. You, too, should document a personal vision. And, don't do it alone. Surround yourself with others—mentors, advisors, peers, associates, investors—who buy into your vision and will serve as a sounding board and support mechanism to help you ensure long-term success for the company you create.
Start up entrepreneurs have to improve self to the next level to scale up business
Ateneo Professor on Entrepreneurship
Repost from QZ com by Jim Alampi | November 12, 2013
One of the biggest challenge to start up entrepreneurs is scaling up the business. This is most especially true in the PHL but is not in any way unique challenge. In US, of the 6 million start ups, only 25% achieve sales of more than $l million a year. (It may be less in the PHL)
The bottleneck is of course at the head - the founder. The traits that made the start up rise up - quick decision, deciding on limited information, flexibility, risk taker etc. may be detrimental to the growth of the company. A growing company must be more efficient, need a new set of skills, and may even require a new set of team members. The founders, pioneers may even be obsolete for the new firm, even the entrepreneur, himself and even look for a new CEO.
The problem usually though is with personal mastery and growth of the man on top.
Only one in four entrepreneurs see the light. See the rest of the article:
Repost from QZ com by Jim Alampi | November 12, 2013
One of the biggest challenge to start up entrepreneurs is scaling up the business. This is most especially true in the PHL but is not in any way unique challenge. In US, of the 6 million start ups, only 25% achieve sales of more than $l million a year. (It may be less in the PHL)
The bottleneck is of course at the head - the founder. The traits that made the start up rise up - quick decision, deciding on limited information, flexibility, risk taker etc. may be detrimental to the growth of the company. A growing company must be more efficient, need a new set of skills, and may even require a new set of team members. The founders, pioneers may even be obsolete for the new firm, even the entrepreneur, himself and even look for a new CEO.
The problem usually though is with personal mastery and growth of the man on top.
Only one in four entrepreneurs see the light. See the rest of the article:
Cat and mouse game with your employees
Ateneo Professor on Entrepreneurship
Repost from Open Forum by Barry Moltz | November 12, 2013
It is a sad thing that we entrepreneurs do our best to give the best to our employees. By default, we entrepreneurs uplift the living standards, lessen poverty by providing jobs. But many people, some of them our employees, persist in making life difficult for them by petty thefts and stealing. It happens to even religious (some pastors in their own churches) Self interest is the culprit. Extreme ambition of material things. So we had to remove them because we have strict standards for violation of standards in performance of duty, and care of company property.
Some wacky things our staff do are:
1. Setting up fake vendor accounts as payee. Always pre qualify vendor documents and meet the vendor/vendor reps.
2. False receipts or expense accounts. (Stamp paid to the expense all ready paid and punch perforate the same)
3. Steal money from the register. They will not be willing to go for qualified theft... outright theft is quicker.
Read more, the rest of the article:
"4. Falsify expense accounts. This is probably the most common form of theft in any business. Employees submit either phony expenses or the same expense receipt multiple times.
Solution: Insist upon a receipt for each expense and ensure it has not been submitted before.
5. "Buddy punching." Time theft is very popular as a result of one employee punching in or out for the other. Employees also fill out time cards for days they were not present.
Solution: Biometric time keeping solutions (fingerprints) should be used so buddy punching isn't possible.
6. Steal or falsify inventory. Look for complaints about missing items. An alternate scam is that the employee sets up a fake supplier who never delivers the product, but is paid.
Solution: Take physical inventory often or practice cycle counting. Note missing inventory and use RFID tags to track expensive items.
7. Steal data. This can take the form of customer records or any other digital assists.
Solution: Track all access to any computer program and force users to change passwords frequently. Discontinue accounts of former employees. Restrict access by job function. Cloud-based solutions in general will have much better security in these areas.
Have you had employees steal? How did you find out and what did you do about it?
Read more articles on leadership.
Repost from Open Forum by Barry Moltz | November 12, 2013
It is a sad thing that we entrepreneurs do our best to give the best to our employees. By default, we entrepreneurs uplift the living standards, lessen poverty by providing jobs. But many people, some of them our employees, persist in making life difficult for them by petty thefts and stealing. It happens to even religious (some pastors in their own churches) Self interest is the culprit. Extreme ambition of material things. So we had to remove them because we have strict standards for violation of standards in performance of duty, and care of company property.
Some wacky things our staff do are:
1. Setting up fake vendor accounts as payee. Always pre qualify vendor documents and meet the vendor/vendor reps.
2. False receipts or expense accounts. (Stamp paid to the expense all ready paid and punch perforate the same)
3. Steal money from the register. They will not be willing to go for qualified theft... outright theft is quicker.
Read more, the rest of the article:
"4. Falsify expense accounts. This is probably the most common form of theft in any business. Employees submit either phony expenses or the same expense receipt multiple times.
Solution: Insist upon a receipt for each expense and ensure it has not been submitted before.
5. "Buddy punching." Time theft is very popular as a result of one employee punching in or out for the other. Employees also fill out time cards for days they were not present.
Solution: Biometric time keeping solutions (fingerprints) should be used so buddy punching isn't possible.
6. Steal or falsify inventory. Look for complaints about missing items. An alternate scam is that the employee sets up a fake supplier who never delivers the product, but is paid.
Solution: Take physical inventory often or practice cycle counting. Note missing inventory and use RFID tags to track expensive items.
7. Steal data. This can take the form of customer records or any other digital assists.
Solution: Track all access to any computer program and force users to change passwords frequently. Discontinue accounts of former employees. Restrict access by job function. Cloud-based solutions in general will have much better security in these areas.
Have you had employees steal? How did you find out and what did you do about it?
Read more articles on leadership.
Fraud Protection and Prevention in Small Business
Ateneo Professor on Entrepreneurship
Repost from From Intuit Blog by Robert Mozkowitz
Before crimes against business properties were pirates and robbers and they use guns and daggers. But this is no longer true today. Crimes against property now are being carried through laptops and even from far away places and we do not know what hit you.
For instance, a common cell phone scam is enticing you to press a code to avail of 20% discount on your phone bill, not knowing that what you press is a fund transfer to a certain phone number. The most common crimes are hacking the bank and credit card accounts and pishing. Protection include regular audit, multi user control, secure password.
Or sometimes the theft is inside job (we suffer a lot from these) So beware. Those who lose from scam or fraud out are unable to recover the losses
Your business may be small, but fraud perpetrated on small businesses isn’t cheap. According to the Association of Certified Fraud Examiners,
the median loss due to fraud in 2011 was $140,000, with 20 percent of
frauds getting away with more than $1 million. Half of all victimized
organizations recover nothing at all of their losses. And because they
deploy fewer anti-fraud controls, the smallest organizations typically suffer disproportionately large losses.
But this doesn’t have to happen to your small business. Here are four steps you can take to more effectively combat fraud:
1. Manage your finances using multiperson control. Giving only one employee the authority to receive payments, make deposits, and reconcile customer accounts can be an open invitation to act unscrupulously with your money. Instead, separate the power to disburse funds — from purchases to payroll — and the power to accept payments and make bank deposits. Assign a third person to record transactions and reconcile your account balances. It’s also a good idea to require anyone who handles your business’s money to take a weeklong (or longer) vacation at least once a year.
2. Regularly check your accounts and inventory. Have your bank and credit card accounts audited on a regular basis. If you use the same professional or firm to perform these audits every time, they’ll quickly learn to complete the job in short order. Because inventory is a type of asset, it also needs protection. At a minimum, have one person or group receive shipments into inventory and a different person or group do the annual or semiannual inventory counts. If any items are particularly valuable, keep them locked up and require people to sign them out, as needed, under supervision.
3. Install web-browsing protections. As soon as any electronic device connects to the internet, it becomes a potential target for scam artists. Major threats include phishing and malware making its way onto the device.
Phishing is an attempt to obtain your account, password, or other security information by pretending to be an authorized entity — such as a bank or a government agency — making a legitimate request for it. Defeat such tactics by establishing policies (see #4) against divulging secure information unless a manager verifies the request by calling the entity in question.
Malware refers to viruses and other invasive software that seeks access to your electronic devices in order to destroy or harvest your private data. Protect your systems against various forms of malware by installing a dedicated, reputable anti-malware app that detects and eliminates these threats before they take root.
4. Put data-security policies in writing. Many small businesses don’t bother with written data-security policies, but they are worth their weight in gold. This is because written policies underscore your fraud-prevention measures, make it easier to defend against theft, and provide a solid basis for improving data security.
The simplest and most powerful data-security policies include:
Repost from From Intuit Blog by Robert Mozkowitz
Before crimes against business properties were pirates and robbers and they use guns and daggers. But this is no longer true today. Crimes against property now are being carried through laptops and even from far away places and we do not know what hit you.
For instance, a common cell phone scam is enticing you to press a code to avail of 20% discount on your phone bill, not knowing that what you press is a fund transfer to a certain phone number. The most common crimes are hacking the bank and credit card accounts and pishing. Protection include regular audit, multi user control, secure password.
Or sometimes the theft is inside job (we suffer a lot from these) So beware. Those who lose from scam or fraud out are unable to recover the losses
Take These Basic Steps Against Fraud
But this doesn’t have to happen to your small business. Here are four steps you can take to more effectively combat fraud:
1. Manage your finances using multiperson control. Giving only one employee the authority to receive payments, make deposits, and reconcile customer accounts can be an open invitation to act unscrupulously with your money. Instead, separate the power to disburse funds — from purchases to payroll — and the power to accept payments and make bank deposits. Assign a third person to record transactions and reconcile your account balances. It’s also a good idea to require anyone who handles your business’s money to take a weeklong (or longer) vacation at least once a year.
2. Regularly check your accounts and inventory. Have your bank and credit card accounts audited on a regular basis. If you use the same professional or firm to perform these audits every time, they’ll quickly learn to complete the job in short order. Because inventory is a type of asset, it also needs protection. At a minimum, have one person or group receive shipments into inventory and a different person or group do the annual or semiannual inventory counts. If any items are particularly valuable, keep them locked up and require people to sign them out, as needed, under supervision.
3. Install web-browsing protections. As soon as any electronic device connects to the internet, it becomes a potential target for scam artists. Major threats include phishing and malware making its way onto the device.
Phishing is an attempt to obtain your account, password, or other security information by pretending to be an authorized entity — such as a bank or a government agency — making a legitimate request for it. Defeat such tactics by establishing policies (see #4) against divulging secure information unless a manager verifies the request by calling the entity in question.
Malware refers to viruses and other invasive software that seeks access to your electronic devices in order to destroy or harvest your private data. Protect your systems against various forms of malware by installing a dedicated, reputable anti-malware app that detects and eliminates these threats before they take root.
4. Put data-security policies in writing. Many small businesses don’t bother with written data-security policies, but they are worth their weight in gold. This is because written policies underscore your fraud-prevention measures, make it easier to defend against theft, and provide a solid basis for improving data security.
The simplest and most powerful data-security policies include:
- Use secure passwords. Secure passwords typically contain 10 or more characters, use capital and lowercase letters, and feature at least one special character from the top row of the keyboard (type Shift + a number to get !, @, #, etc.).
- Passwords must not be written down and kept in the same room where they are used.
- Every secure system — and every user of each of those systems — must have a unique password.
Six Sales Lessons You Can Use Today from GKIC
Reprint/repost from GKIC -Leading Provider of information and training for entrepreneur | December 17, 2013
You can sell a higher priced product instead of lower priced one, if you know how. It not an excuse not to be able to sell in a downturn, or if people are looking value for money. Here is how:
Some tips:
1. Package what you sell.
2. Make it easy for them to purchase
3. Create sense a urgency
You can sell a higher priced product instead of lower priced one, if you know how. It not an excuse not to be able to sell in a downturn, or if people are looking value for money. Here is how:
Some tips:
1. Package what you sell.
2. Make it easy for them to purchase
3. Create sense a urgency
Soon summer. Offer to buy gift- watches + cheap and delivery. . order!
I could not buy the real thing so I bought several of this from Greenhills. I keep receiving this at this site. How come they know my weakness of watch that has many dials.? For P4t or more, you can have the real thing look alike.
Are they not violating the intellectual property rights of Rolex? Would you buy one?
Good day, jewelry etc. - http://tiny.cc/vsqk5w
Are they not violating the intellectual property rights of Rolex? Would you buy one?
Good day, jewelry etc. - http://tiny.cc/vsqk5w
Tuesday, December 17, 2013
Links to other Entrepreneurship and management sites
Ateneo Professor on Entrepreneurship
MANAGEMENT, LEADERSHIP, ENTREPRENEURSHIP
BUSINESS MANAGEMENT DAILY
This is a compilation of management ideas and tips for daily operation. You can get almost anything here.
HARVARD BUSINESS REVIEW BLOGS
The latest business ideas and management knowhow from the grandest of all business school - Harvard.
SMARTBRIEF
A bookmark, a compilation of links to latest articles on leadership, management, and business
ENTREPRENEUR
A site for easy understanding of start up and entrepreneurship ideas.
SELFDEV
A collection of posts on personal mastery, self development and leadership
BUSINESS FROM COUNSELLING TEAM
A collection of quotes and lodestones on management thoughts and ideas.
GKIC
Leading provider of information and training for entrepreneurs
MANAGEMENT, LEADERSHIP, ENTREPRENEURSHIP
BUSINESS MANAGEMENT DAILY
This is a compilation of management ideas and tips for daily operation. You can get almost anything here.
HARVARD BUSINESS REVIEW BLOGS
The latest business ideas and management knowhow from the grandest of all business school - Harvard.
SMARTBRIEF
A bookmark, a compilation of links to latest articles on leadership, management, and business
ENTREPRENEUR
A site for easy understanding of start up and entrepreneurship ideas.
SELFDEV
A collection of posts on personal mastery, self development and leadership
BUSINESS FROM COUNSELLING TEAM
A collection of quotes and lodestones on management thoughts and ideas.
GKIC
Leading provider of information and training for entrepreneurs
Other sites of Prof Jorge Entrep
Ateneo Professor on Entrepreneurship
Here are other sites (blogs) of Prof Jorge Entrep. Please click for easy access
Majorem Lending
This is a site for finance, financial management, wealth building, money matters, local and international finance.
Self Development
This site features inspirational videos done by students, quotes, and motivation. This is about the first step towards entrepreneurship and leadership - self development and mastery.
Majorem Solar
One of new projects/expansion Majorem Lending. Majorem promotes solar energy to enable customers to save money from spiralling electric costs, and lessen effects of global warming coming from carbon and fuel fossil run power generator. Majorem will help finance the acquisition of the solar panels, which is the usual restraining force in going solar.
Prof Jorge at Ateneo
The site for teaching entrepreneurship at Ateneo Graduate school of business by Prof Jorge. Syllabus is here, assignments and submission is via this site.
EntrepNew (NU 6/12)
The site for new ideas and innovation
Here are other sites (blogs) of Prof Jorge Entrep. Please click for easy access
Majorem Lending
This is a site for finance, financial management, wealth building, money matters, local and international finance.
Self Development
This site features inspirational videos done by students, quotes, and motivation. This is about the first step towards entrepreneurship and leadership - self development and mastery.
Majorem Solar
One of new projects/expansion Majorem Lending. Majorem promotes solar energy to enable customers to save money from spiralling electric costs, and lessen effects of global warming coming from carbon and fuel fossil run power generator. Majorem will help finance the acquisition of the solar panels, which is the usual restraining force in going solar.
Prof Jorge at Ateneo
The site for teaching entrepreneurship at Ateneo Graduate school of business by Prof Jorge. Syllabus is here, assignments and submission is via this site.
EntrepNew (NU 6/12)
The site for new ideas and innovation
Thursday, December 12, 2013
Improvement in systems and processes of a bank must be customer oriented
Ateneo Professor on Entrepreneurship
Rizal Philippines | December 12, 2013
We were visited today by a Cluster Head of a Universal Bank in an apparent response to our withdrawal of substantial amount in their branch in this town. This was precipitated by several factors:
1. Their branch in another town 30 days ago bounced our check payable to hardware because of a difficulty in signature. They said their head office returned the check. Despite that we had sufficient balance and one of the signatures was Ok. We also furnished them sufficient documents about the second signatories. As a result of the bounced check, the supplier was naturally angry and would not take our orders any more with PO or on credit. Furthermore, we lost our credibility as a result. And the bank was charging us P2,000 penalty for the returned check. We wrote a letter 4 days afterwards complaining about the event and seeking clarification. We did not get any reply. Today, 30 days after, we got the visit. (Just because we transferred substantial amount to another Universal Bank)
The cluster head explained to us that it is all automated system and with the head office controlling the checking account transaction, the branch is helpless to prevent this bouncing of check for technical reason (not lack of funds) if the system is not over ridden. What happenned to account management? Well there are supposed to be persons taking charge of certain accounts. Why did this happen to us? Maybe we are a jolog account (we are in the low 8 digit deposits in their entire network)
Is this a case of misdirected efficiency and control? Control is strengthened, but the system is anti customer. I have known several people who have migrated from their branch because of this difficulty and absence of marketing and customer service. Before, their bank was tops in this department
2. In terms of relationship, we have been banking with their bank for more than 30 years (36 years) and this office has been invited to the home of their chairman, is on first name basis with their senior officer. Now the young ones are in charge, new officers without sense of history, and relationship are running the affairs. Is it correct to say that after all the saying that the "first generation creates the enterprise, the second generation spends it....the third generation destroy it to be true?
Does it have to be that way?
Efficiency must prevail over customer service?
Policy banking is the best?
New ideas must prevail?
New banking practices are tops?
Rizal Philippines | December 12, 2013
We were visited today by a Cluster Head of a Universal Bank in an apparent response to our withdrawal of substantial amount in their branch in this town. This was precipitated by several factors:
1. Their branch in another town 30 days ago bounced our check payable to hardware because of a difficulty in signature. They said their head office returned the check. Despite that we had sufficient balance and one of the signatures was Ok. We also furnished them sufficient documents about the second signatories. As a result of the bounced check, the supplier was naturally angry and would not take our orders any more with PO or on credit. Furthermore, we lost our credibility as a result. And the bank was charging us P2,000 penalty for the returned check. We wrote a letter 4 days afterwards complaining about the event and seeking clarification. We did not get any reply. Today, 30 days after, we got the visit. (Just because we transferred substantial amount to another Universal Bank)
The cluster head explained to us that it is all automated system and with the head office controlling the checking account transaction, the branch is helpless to prevent this bouncing of check for technical reason (not lack of funds) if the system is not over ridden. What happenned to account management? Well there are supposed to be persons taking charge of certain accounts. Why did this happen to us? Maybe we are a jolog account (we are in the low 8 digit deposits in their entire network)
Is this a case of misdirected efficiency and control? Control is strengthened, but the system is anti customer. I have known several people who have migrated from their branch because of this difficulty and absence of marketing and customer service. Before, their bank was tops in this department
2. In terms of relationship, we have been banking with their bank for more than 30 years (36 years) and this office has been invited to the home of their chairman, is on first name basis with their senior officer. Now the young ones are in charge, new officers without sense of history, and relationship are running the affairs. Is it correct to say that after all the saying that the "first generation creates the enterprise, the second generation spends it....the third generation destroy it to be true?
Does it have to be that way?
Efficiency must prevail over customer service?
Policy banking is the best?
New ideas must prevail?
New banking practices are tops?
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