There’s no doubt that a company, in order to be successful, needs both product people, or those who create/develop the product, and marketing/sales people. However, as Apple founder Steve Jobs points out, using IBM and Xerox as examples, a serious problem emerges if the product people are driven out from the decision-making process. In the youtube clip below, Steve Jobs notes, “…so the people that can make a company successful are sales and marketing people, and they end up running the companies. And the product people are driven out of decision-making forms. And the companies forget what it means to make great products.” Continue reading
Almost everyone wants to get rich. And almost everyone recognizes that going into business is one of the best ways to get rich or, at the very least, attain financial sufficiency. Not everyone, however, musters enough resolve to take the first step and actually go into business.
[Graduation season brings a fresh wave of splendid speeches. On 28 March 2015, Lisa Macuja Elizalde gave a commencement speech at the graduation of the School of Humanities and the John Gokongwei School of Management, Ateneo de Manila University Loyola Schools. This fine speech deserves to be read by everyone, especially the young ones. Here’s the full text of the speech.] Continue reading
Republic of the Philippines
Congress of the Philippines
REPUBLIC ACT NO. 10644
AN ACT PROMOTING JOB GENERATION AND INCLUSIVE GROWTH THROUGH THE DEVELOPMENT OF MICRO, SMALL AND MEDIUM ENTERPRISES
Senate Bill No. 2046
AN ACT PROMOTING THE REDUCTION OF POVERTY THROUGH THE DEVELOPMENT OF MICRO, SMALL AND MEDIUM ENTERPRISES
The crucial role played by micro, small and medium enterprises (MSMEs) has long been recognized. The established figures are astounding — more than 99% of enterprises in the Philippines are MSMEs. These business entities heavily contribute to economic development and, more importantly, generate employment in a scale larger than big industries. It thus makes absolute sense for lawmakers to pass a legislation that encourages and assists MSMEs during registration, in the conduct of business, and compliance with regulatory requirements.
What to do when one has no business idea and no business capital? The good thing about the query, received through email, is the obvious interest in doing business. It’s important to note that much of the risk in doing business lies in the insufficient understanding of the nature, requirements and prospects of the business. Peter Drucker, widely regarded as a management guru, succinctly noted that “entrepreneurship is “risky” mainly because so few of the so-called entrepreneurs know what they are doing.” There is, therefore, everything to gain in asking questions, especially for new entrepreneurs. Continue reading
We (hopefully) learn from our own experience. We also learn from the experience of others, both from those who failed and from successful Pinoy Entrepreneurs. Let’s see what we can pick up from the awardees in the recently-concluded search for the Entrepreneur of the Year Philippines 2012, organized and presented by Ernst & Young, which was announced on 18 October 2012 at the Makati Shangri-La Hotel.
The usual reason given by Overseas Filipino Workers (OFWs) in leaving the Philippines, and enduring the separation from their families, is the greener pasture at the other side of the fence, wherever in the world that may be. We’ve previously noted that perhaps it would help OFWs to become entrepreneurs. Invest or start a business, whether in the Philippines or abroad, and create a financial buffer in case they decide to “retire” from work abroad and return to the Philippines. Someone asked how to start a business in the Philippines. We’ll put ourselves in the shoes of our OFW brothers and sisters, then ask: what would we do?