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Sunday, July 21, 2019

Teaching entrepreneurship at a GSB - a recollection

Ateneo Professor on Entrepreneurship

Rizal Philippines
July 21, 2019















I taught entrepreneurship at famous GSB for more than a decade after I finished my Strama for the MBA for the same school. And taught the same subject all over the country:  Makati, Cebu, Clark, Subic, Sta Rosa.

I have stopped teaching the subject for  the  last 3 years because of 1. Traffic, 2.  Old age (retireable na daw pag 65) and 3.  because  of the new boss.  He was unyielding that the grades will be submitted sooner, which is not possible if one of your requirements is writing a full blown complete business plan.- a  graduation skill that the students of the said GSB lack.

I am sure that my cluster head could have defended this position...  A bp is just as challenging as writing a strama, even more so since you start from zero

I made sure that the 8 (Regis) or 15 weeks (standard) course I offered was both exciting and demanding. The course featured:

     1. Use of electronic means for learning even without the blackboard.  The assignments and the submission
         of assignments was via the blogs.  It made the students more competitive and web savvy

    2.  Shared book reports.   1/2 of the time of the class was spent on presentation and  panel discussion
         of book relevant to entrepreneurship and business

   3.  Group activities:

      1.  Creative work at the  class:  food preparation and making sales pitch

     2.  Micromarket study:  PDQ

   4. Individual

       1. Serendipity walk   - finding as many opportunities in streets that could be desolate or overcrowded
           to practice mastery of opportunties

      2.  New 12 -  listing down new ideas weekly  Paramihan   Practicing creativity

     3.  A self awarenesss, self tribute video

     3.  Writing a full blown business plan:  Objectives Organization, Executive Summary,  The customer, the product, Strategy, FS, Complying with regulations

    Walang quizzes or exams.  Only learning and hard work...I am sure they learned more and the course became very memorable to them.   Some feedback says that its the only time they felt they were in MBA class

  I remember that on several occasions, several class activities became a campus event:

    1.  Inviting Dra. Belo to make a presentation on making people beautiful

    2. Francis Kong

    3. Social entrepreneurship forum on the 40th year celebration of the GSB

    4. 3d printing for creativity...








Sponsored by:   Holy Gardens Group:   Memorial Park, Memorial Chapel, Crematorium, Memorial Plans





Why consultancy should never be free or cheap, or why sometimes it wont work

Ateneo Professor on Entrepreneurship

Rizal Philippines
July 21, 2019


Image result for consultancy

I have been engaged in several lectures, joining leading strategic conference workshops and engaged in consultancy.  These are some of my observations/consultation

1.  A cheap consultancy fee  or pro bono ones will not work. Since it costs the company zero or since it is
     cheap, the top management or the organization will not value it and hence will not pay attention

2.  You conduct a training session and the  participants go back to the same situation, nothing will change
     unless there is a change in culture or environment

3. Change is not a one shot one day deal.  It takes time and perseverance to achieve this.

4.  The ego of the founder or the  top management will come into play.  "Those were the days"  Bakit mas marunong pa iyang outsider sa atin.

Remember, as in the classroom, the protagonist, the  student, the owner  will only accept what he wants to accept.  Its what he accepts and buys that counts not what you teach.

Sometimes for the consultants who do not understand well the company situation, and/or its uniqueness, they will come out with copy paste soltuion ie -  this has worked before in other companies, it may work for you.  Each problem and difficulty is unique (even the family owner dynamics will be strategic issue) and takes a long time to resolve and implement.

Sponsored by:  Holy Gardens Group:   memoiral parks , funeral service, cremation, interment service

Cash is king - your greatest mistake is to run out of cash

Ateneo Professor on Entrepreneurship

Rizal Philippines
July 21 2019

Image result for cost reduction image

Despite all the trash that cash or money  is getting from the Holier than Thou Groups, we need cash to transact to buy  stuff for the things we need.  In business, you need cash run the business - pay your employees and suppliers.   Cash is the stuff that makes the world the business go round.

So never run out of cash. It is the  greatest sin, mistake that your business can make.  The business world can be unforgiving if you are out of cash ie bankrupt.

Therefore:

1.  Sell  (that is the first thing in your agenda)
2. Collect your receivables promptly and decisively
3.  Anticipate your cash needs see your bankers, creditors early
4. Maintain a good credit standing with lenders and creditors
5.  Stretch your cash position by asking for credit terms and extending this a little bit
6.  Avoid the siren song of over expanding.
7. Engage in a year long cost, cash reduction measures

Sponsored by:   Holy Gardens Group:  Memorial Parks, Chapels, Funeral Service, Cremation and Memorial plans...

Dam Management - Save for a rainy day

Ateneo Professor on Entrepreneurship

Rizal Philippines
July 21, 2019

Image result for saving for a rainy day

Attributed again to the founder of National  Matsushita.

Prepare for the unforeseen;  have contingency planning.  Anticipate that things could go wrong and set up system to address the possible difficulty.

1. Have cash in excess of your usual requirements so that you will not scrounge for cash to finish the project.  Keep secret cash hordes to get you by in times of crisis.

2.  Have extra staff as back up  in case somebody gets sick, or leaves.

3.  For your working capital requirements:   have cash

    1. For your usual operating expenses;

   2. Have reserve in case your payables comes due and the receivables are not paying.

   3.  Have extra cash in case the tax men suddenly comes in and ask you to pay.

   4.  Have insurance for fire and other calamities

4.  Have redundancy for your critical machinery.  Have a back up especially if they are imported.  A downtime will severely affect your outputs

Saturday, July 20, 2019

An entrepreneur is extremely proud of his product and wants his employees to be too.

Ateneo Professor on Entrepreneurship

Rizal Philippines
July 20, 2019

Image result for giving away shares of stocks

The entrepreneur is someone who spent time envisioning his product and his/her strategy revolves around the product/customer.   His/her passion revolves around that.  And the entrepreneur share this passion with his/her partners and staff.  The entrepreneur should be able to talk about his product service to hours at end.

If you cant do this, you are not probably an entrepreneur...

Read my other post: Wisdom from small stuff

Sponsor:  Holy Gardens Memorial Park Group