Tag Archive: Entrepreneurship

It’s Okay to Fail

Sean is a kid who would play Plants vs Zombies that when he got a little overwhelmed by the zombies, he would restart the game right away. In keyhero.com, a typing training site, he would press escape even if he just missed a single letter. He is also the type of kid who would cry because he got a 97 in an exam.

He is a kid who’s not yet good with failures.

But I believe Sean’s behavior is completely normal. I too sometimes is guilty of that.

There is a game in Nintendo DS called Brain Age 2. It’s about playing a series of test, and the game will grade you by giving the age of your brain – according to the result of your tests. The ideal brain age is 20. The lower the number, the better.

When I reached a brain age of 25, I thought I got a pretty high grade, and stopped playing the game. The reason? I got comfortable with my success that I fear I may fail the next game, and would get an older brain. Since then I never played the game until recently…..got an age of 46.

The truth is we are so afraid to fail that we actually Fail.

It is OKAY to fail, and there is absolutely nothing to be ashamed of.

But there are two failures that are not acceptable: Failure to TRY and Failure to LEARN from your failures.

To close this post, let me leave you with 3 of my favorite quotes about Failure:

“Success is a lousy teacher.” – Bill Gates

“I have not failed. I’ve just found 10,000 ways that won’t work.” – Thomas Edison

“I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. Twenty six times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.” – Michael Jordan

How To Have An Effective Workday

Morning Coffee

Photo by rachelsmarties

The future belongs to those who prepare for it today.

 

We all only have 24 hours a day, and sometimes the difference between success and failure lies thinly on how effective you spend your day. In my current position as a general manager and part-time entrepreneur, 8 to 12 hours of work seems like not enough to carry out all my day’s tasks. I have tried to restructure my daily routine ever since.

I read tips from various articles online and practiced which one works for me. I have formulated a simple routine, that I am using for the past 3 weeks, which gave me better productivity.

1. Before going to bed, Ponder on important tasks that will be accomplished the next day.

By doing so, it will align your mind with your tasks and will greatly help you be more organized the next day. Being organized saves you a lot of time.

2. Divide your day in 2 halves. First half, with routine. Second half, free-for-all.

I usually have my routinary work when I got to the office until lunch time. After lunch I spend the rest of the day: spreading the word about my products, getting involve in trainings, developing our website, meetings, planning and conceptualizing, etc. Basically it depends on my mood, whichever I enjoy doing.

3. Accomplish everything in Bursts. Avoid multi-tasking.

Give pure 10 to 15 minutes in every task. If you’re checking your emails, then just check your mails. Do not invite another task that may intervene with the  current one. This way, you are clear about your task’s progress.

The first thing I do when I arrive my office is to check and reply emails. Then open our company’s Chatter to get updated with what happened yesterday and if there are any pending tasks. Then go to our company’s Facebook or Twitter to see if there are any queries. After accomplishing all those online stuffs, I then go ahead to offline matters. It starts by checking out my incoming documents that is needed for review and signature.

After accomplishing those, the number 4 item is what I do next:

4. Delegate.

There are corresponding responsibilities for every department in the company. Be sure to delegate those tasks that are applicable to the department. This not only workout the company’s system, but it also helps you proceed to the next task.

5. Pray.

No matter how good and organized a routine is, your day may be ruined by a single unexpected problem. Be sure to always backup your plans with a prayer.

How about you? How do you make your day effective? Share!

God Bless!

You Got A Story To Tell

I must admit, my current business is not doing well.

It resulted to:

Delayed issue of salaries.

Failed to fund a couple of checks.

Suppliers withdrawn their products.

Cracked business relationships.

Employees resigning.

and so on..

I think I just hit rock bottom.

It’s sad. It’s tough.

But I should never lose hope.

Should find a way to turn these things around.

I know there’s a way.

I should keep fighting.

It is not the end.

I want to have a happy ending.

An inspiring ending.

Ending it with success!

Because one day I have to tell my story.

To my children.

To my grand children.

Or the public.

How boring and less inspiring it would be if it was pure success from beginning to the end.

On the other hand, it would be just a complete waste if I did not make this story end with success.

Today is the part where the story gets interesting.

Tomorrow is where it will be an Epic!

*

One day we all are going to tell our story. How will yours go?

“I believe man was designed for accomplishment, engineered for success, and endowed with the seeds of greatness.” – Zig Ziglar

Sabi nga nila, Ang bida ay nagpapabugbog muna sa simula. Toinks! :-D

 

Download Entrepreneur Mobile From Android Marketplace

I downloaded the Entrepreneur app from the Android Marketplace. It serves daily articles about operations, marketing, business, and other stuffs about entrepreneurship. It is pretty helpful specially to someone like me who is running a business.

Below is a sample of the article that I have reblogged from Entrepreneur.com which have been fed to the app.

How Business Planning Leads to Better Management

Here are three steps to help get you planning better, and putting those plans in motion.

By: Tim Berry

In my experience leading dozens of business planning workshops in countries all over the world, I’d say only about 10% to 15% of teams I’ve encountered have an effective business planning process. Sounds low, doesn’t it? What many business owners fail to understand is that good planning equals good management.

Let me explain. Planning is about managing resources and priorities in an organized way. Management is related to leadership, and it’s related to productivity.

Here are three steps to get you planning better and, in turn, improving your management.

1. Devise a plan. As the business owner, you start by writing important details down. You don’t need to sweat every detail of creating a long document. Instead, jot down essential points as bullets, and tables, and bare explanations. The strategy element of planning is to focus on what you’re good at, what matters, which people are most important to you and what you can do for them. It’s about positioning, determining your target market and product focus.

It’s important to document these details in order to communicate your vision to employees. If you don’t have a team, there’s value in referring back to your original thoughts regarding the path for your business and comparing them to actual results.

2. Define success. In order to chart your path, you’ll need to define long-term goals. Think broadly about how you see your business in several years.

From there, get specific. You’ll want to establish milestones for when you want to accomplish certain goals, and know who you will want to carry them out. Go beyond sales, costs and expenses, and look at what really drives your business. It might be conversions, page views, clicks, meals, trips, presentations, seminars and other engagements.

Then, establish a review schedule — when you and your team review changed assumptions, track results and make changes as necessary.

3. Put it in motion. Can you see the management brewing? Tracking and analyzing numbers can help you manage the work behind the numbers. You’ll be in a better place to recognize and highlight what’s working and what isn’t working for your business and your team.
Suppose traffic is up, but conversions are down. You collect your data, review it with your team and develop a plan to make changes toward reaching your goals. That’s management.

Managing your business successfully requires more than just praise and pats on the back. Sometimes it means focusing attention on problems, helping people solve them if possible, discussing and embracing mistakes, and, in the worst case, weeding out people who don’t care about bad results. This can all be accomplished more efficiently when you have a plan in place.

Either way, whether results are better than expected or worse, the planning and tracking makes your follow up easier. The process itself adds commitment and peer pressure to the team. Highlighting good performance is easier when there are agreed-on numbers to define it. And, probably most important, dealing with poor performance is always hard, but not quite as hard when you can focus on the specific numbers instead of personalities or office politics.

Which brings me back to where I began: Planning is management. Without planning, your management is at a real disadvantage.

***

If you wish to download the app, here is the QR Code for your convenience:

Entrepreneur QR

 

Let Wife Be Housewife?

A girlfriend asked, “When we get married, would you let me work?” Boyfriend answered, “Of course not! I am the guy, I should be the the one who will provide for our family. I just want you to take care of our kids.”

That’s a really sweet statement coming from the boyfriend.

But if I would be the boyfriend, I will definitely make her work. Whether she likes it or not!! [And this is the part where I should do the evil laugh.. :D ]

…Anyway, here are some of my reasons why I would encourage her to work rather than just staying at home and be a plain housewife:

LET HER EARN HER OWN MONEY

With today’s lifestyle, or cost of living for that matter, it would be just practical if the wife at least works for her own personal budget were in she could buy her own stuffs like bags, shoes, clothes, or whatever. It would already be a great help for me and the family.

Sharing with the household expenses would be entirely up to her. I, as the husband, would not pressure her to do so, but if she is willing to share I will greatly appreciate it. ;)

By letting your wife earn her own money, you are giving her the opportunity to:

  • Experience how it is like to work for the family, and appreciate every centavo you put in.
  • Learn to manage her own hard earned money.
  • Feel that she is part of the game. – not just a benchwarmer or part of the cheering squad who just hopes and pray that the team would win the game.
  • Reward herself.

Husbands, DO NOT be discouraged if your wife earns a little more than you do. Just take it and be happy for her. Run your own race.

LET HER STAY SHARP

Your wife might have studied for almost 20 years of her life, and you just want her to stay home and get dull? That’s a BIG NO for me. Let her mind work. Let her think. Let her use her talent, her skills. It’s unique and you wouldn’t want to put that asset to waste.

I don’t think taking care of the kids, doing laundry, washing the dishes, or cleaning the house day after day would make her stay sharp. Hire a helper to do those things instead.

Encourage her to pursue the career of her dream, and support her all the way.

LET HER ACHIEVE

Since the husband is working, at some point in his career, he may be named: Employee of the month, top salesman of the year, listed in top 10 entrepreneurs, and so on… The husband may have plenty of achievements, but that is something that can’t be totally shared with the wife. At the end of the day..it’s the husband who achieved it. Not the wife.

If the husband took up master’s degree and eventually graduated from it, it is the husband who got the degree. No matter what he does, there’s no way for him to transfer that degree to his wife.

There will come a time when people will see that the husband has achieved so much and the wife hasn’t.

Husbands, do not let this thing happen to your wife. You should treat your wife as your better half. Literally.

Let her achieve. Again, as I mentioned earlier, DO NOT be discouraged if she has achieved more than you. Do not compete with each other. I will say it again, run your own race.

If your wife achieves something because of you, consider it as one of your greatest achievement.

LET HER BE PART OF THE TEAM

Life has its ups and downs. And when crisis strikes, it will boil down to how good the couple’s teamwork is.

But I think you cannot consider it as real “teamwork” if the wife is only there to cheer the husband up. She can cook him delicious food, give him a nice massage, tell him some jokes or whatever. It will be very much appreciated, but at the end of the day, there are still no solution to the problem.

In sports, cheer leaders are not considered part of the team.

Let your wife be part of the solution. Let her contribute. Let her do her part. Device a plan, and include her to the plan. Explain your role and her role in the plan. Pray together. And trust that she can do it.

LET HER BE CAPABLE STANDING ALONE

Just in case anything happened to the husband, the provider of the family. How ready is the wife to step up?

I have friends and relatives who lost their husbands, whether passed away or went on with another woman, and left them powerless. No knowledge how to run the business, No steady stream of income.

So husbands if you are planning to leave your wife, be sure to train them to run the business first. *Kidding* :-P

Kidding aside… One very wealthy family we knew, faced their biggest challenge when the husband had a stroke and went on comatose for more than a decade..then eventually passed away. The wife, their kids, no one knows how to run the business. Now that the wife is on her 70′s and the “kids” are now on their 50′s, still no one handles the business. They are still using their reserves up until now. Or perhaps from the reimbursement they got from the Life Insurance, or other insurances. Who knows? Insurances quotes a lot these days..

It will give you peace of mind knowing that whatever may happen to you, your wife is capable of running the business – or at least provide for the children.

THE WIFE OF NOBLE CHARACTER

You may open up your Bibles and turn it to Proverbs 31, verses 10 to 31 to read verses about the Wife of Noble Character.

I will highlight some verses in which I think the Bible encourages us that a wife should work: New International Version (NIV) 2011

Verse 13:

She selects wool and flax and works with eager hands.

Verse 14:

She is like the merchant ships, bringing her food from afar.

Verse 16:

She considers a field and buys it; out of her earnings she plants a vineyard.

Verse 17:

She sets about her work vigorously; her arms are strong for her tasks.

Verse 18:

She sees that her trading is profitable, and her lamp does not go out at night.

Verse 19:

In her hand she holds the distaff and grasps the spindle with her fingers.

Verse 24:

She makes linen garments and sells them, and supplies the merchants with sashes.

Verse 27:

She watches over the affairs of her household and does not eat the bread of idleness.

Verse 29:

“Many women do noble things, but you surpass them all.”

Verse 31:

Honor her for all that her hands have done, and let her works bring her praise at the city gate.

 

What is Procrastination

According to Wikipedia: Procrastination refers to the act of replacing high-priority actions or tasks with low-priority actions, and thus putting off important tasks to a later time.

From Merriam-Webster: to put off intentionally and habitually; to put off intentionally the doing of something that should be done.

During my elementary, high school, to college days.. I never heard about the word Procrastination. I first heard, or rather, read about it was when I became enthusiastic about blogging. I’m assuming the reason why the word “procrastination” became relatively usual among bloggers it’s because it is one of the common hindrances a blogger must face in his/her blogging career.

Procrastination is not a good word. It is something that will make you less productive. It’s like a hole in your hourglass that wastes away your time. And what’s dangerous about it, is that most of us doesn’t even notice that we are already procrastinating. Even worse when it becomes a habit.

I can personally say that I have been a big time procrastinator before… But I didn’t know. When I was still a student, I remember that I was studying for an exam…then the next thing I knew I’m doodling all over my notebooks and books – then doze off without me knowing. In blogging, whenever I’m in the process of writing a post, I usually checkout other blogs for inspiration… but then I ended up pimping my site instead, because I felt inferior about how other blogs looks so nice. And another instance is when my mom or dad would ask me an immediate favor.. I would always say: “Alright. Later.”

Today, I’m still not 100% procrastination free; never will be. To take it a little further, I think no single person is totally procrastination free. It would be an unending battle between you and procrastination. Even my grandfather sometimes procrastinate before taking his medicines.

When I think about it now, Failure is not your obstacle towards success.. it’s Procrastination.

Outstanding Customer Relation Can Make You A Winner


Outstanding customer relation can make you a winner.


We Chinese entrepreneurs values friendship especially on business. We patronize and prioritize our friends’ or relatives’ product first before we go outside of the circle.

Example: I need brand new tires for my car. I will check-out first if any of my friends or relatives are in tire business. If so, I will patronize their product even if he’s price is a little higher than the outside supplier. This is how we show support with each other.

But as they said, everything has a weakness except God. Even that strong bond among Chinese entrepreneurs can be defeated…if the supplier or the merchant handles customer relation outstandingly.


This is my personal story.


I was looking for a back-up sensors to be installed in my car. One of my friend owns an auto shop so I sent him a text message asking for his price on two eyed buzz type sensors. At first it was going good, he replied “It costs PHP1,000.00. If you want, you can add a little so you can also have the indicator.” Then I replied, “Oh thanks! Does installation included or for a fee.” Then he replied “Yes included.” Then I asked, “Do you do home service or I will go to your shop?” He replied, “Come to my shop.”

Business Opportunities From Typhoon Ondoy

The Bad News:

A lot of business establishments were suppressed during the day of Typhoon Ondoy. Mostly likely, your business were also affected. You don’t have any choice but to close your shop early and call it a day.