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Enjoy hard work April 12, 2007

Posted by pinoyentrepreneur in Mind Your Business.
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According to this digital printing specialist, commission or profit should be third in your list of priorities when serving a client. Here’s why:

“When I started working back in 1992 I didn’t know what I was getting into.  I applied as a Marketing Assistant for a manufacturing company but didn’t know what I was doing and why.  I just did what I was told. 

“This I endured for two years until I was exposed to sales.  I was instructed by my boss to present their new product.  Of course, being a super-duper-ultra-mega shy person, I saw it to be a challenge.  Presentation day came–lo and behold– they bought.  Unfortunately, it was a temporary thing and there was no opening for sales in that company.  So I did what only a crazy man would do.  RESIGN! 

“I resigned with no fall back.  It took me two months to get a selling job and it was a selling job which I wasn’t too keen on.  My product? Encyclopedia Britannica. 

“Now here’s where the fun begins. 

“Two weeks after they trained me, I saw this sales opening job with a quick printing company, the office was just beside the building which I was working as an encyclopedia salesman.  Went in, applied, they interviewed me and was accepted in the afternoon.  Six months after WALA PA AKONG BENTA! (I don’t have sales yet!)  I was already looking for a job elsewhere–either in marketing or technical. 

“Then, my first big sale came in.  I will never forget this.  It was a sales manual for a pharmaceutical company.  They needed 70 copies of the manual in two days.  High volume photocopying machines were non-existent at that time and so no one would be able to accomplish such work.  And then, two days later a government agency needed 200 copies of their manual for presentation to Congress and they needed it in four days time. 

“Was it luck or was it meant to be?  I decided to scrap the idea of applying for that job and instead to stick it out with printing.  It was the best move of my life.  Over the years I developed relationships with clients, to the point of helping each other even with our personal problems.  They have been with me up to today.

“I have my own business now and I have not changed my philosophy in sales. My philosophy has helped me close outrageous deals!

“My philosophy?  Do not think of the commissions or profits.  This should be third on your list.  First is to help the client with their printing needs or problems.  Second is to meet your delivery.  What good is a closed deal if you can’t deliver, right?  Third is to enjoy the hard work with the profit or commission.

“Over the years, I have noticed that if you are sincere in helping your client, they will award the project to you even if your price is higher.  What is even more amazing is that even if you do not carry the service they need, they want you to do it.  Okay lang na patungan mo, huwag lang sobra. (You can raise your profit margin, but not too much.)”

Thank you for sharing your story with pinoyentrepreneur. Mabuhay ka! 

Taking a Rejection April 11, 2007

Posted by pinoyentrepreneur in Mind Your Business.
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My application for the business name WriteShop, An Editorial Company, was rejected.

I received an email from the BNRS admin of DTI telling me that my application was rejected saying:

Dear Applicant:

Your business name application with transaction reference number 1514887 for the proposed business name: WRITE SHOP, AN EDITORIAL COMPANY … was rejected due to the following reason(s):

  • list alternative buss names
  • buss name must have an identifyign and descriptive word
  • your descriptive word must jive with your line of service
  • refrain from using the word company

And then, it gave me some instructions on how to proceed. Pretty simple doing the steps online. Basically, it asked me to submit three new names. So I did. This time, the names were WRITESHOP EDITORIAL AND PUBLISHING SERVICES, WORD WORKS EDITORIAL AND PUBLISHING SERVICES, and WRITE LAB EDITORIAL AND PUBLISHING SERVICES.

And so, I shall wait again for a reply via email.

My purpose to document this process is one of educating myself and others. DTI must be receiving thousands and thousands of business name applications that duplication is inevitable.  The trick–the name should really be unique! Walang katulad!

I shall keep moving. Rejection is nothing.

Write Shop, An Editorial Company April 4, 2007

Posted by pinoyentrepreneur in Mind Your Business.
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I claim this name–Write Shop, An Editorial Company!

write-logo-f-line.jpg

This name is now in the database of the Department of Trade and Industry (DTI) via its online business name application. My online application approved this name, my first choice, over the two other names I submitted–Word Lab and Write Lab, both with the same tagline.

And because I promised my fellow entrepreneurs to document the process I will undergo in opening Write Shop, here’s one for starters.

To do an online application, the site to go is bnrs.dti.gov.ph. The procedure is pretty simple. There are five online pages to fill out. If one of three names of your company is approved, you will be given a Transaction Reference Number (TRN) Acknowledgment and Undertaking. You print this out. The TRN acknowledgment will also be sent to your email. You print this out also.

You submit these print outs, together with the other documentary requirements, to the DTI National Capital Region Office at the G/F DTI Bldg., Buendia Avenue cor Makati Ave. Makati City. The documentary requirements include an original and photocopy of proof of your citizenship, 2 sets of 2x.2 ID photos with your signature at the back, and the signed copy of the Undertaking (which you printed after filling out the online application, remember?).

Deadlines: Payment of registration fee–3 days; Submission of documentary requirements–5 days—-after this online approval of your business name.

So, off I go to DTI after the Holy Week!

Watch out for WriteShop’s menu of services.

Micro Finance Institution–99% repayment rate! April 3, 2007

Posted by pinoyentrepreneur in Micro.
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This micro finance institution (MFI) has a 99% repayment rate.

Angel de Leon Jr, executive director of Taytay sa Kauswagan Inc (TSKI), must be doing something right.

micro.jpgTSKI today serves over 200,000 clients in the Visayas and Mindanao provinces, big wonder how its start-up capital of P2,500 and three employees have made it become the largest and an outstanding MFI.  >>Read more.

This Iloilo couple makes undergarments and sells their products to neighboring towns and even to balikbayans. The loan they got from TSKI had helped them grow their business.

Accidental Entrepreneur April 1, 2007

Posted by pinoyentrepreneur in Others.
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I have read so much about micro, small, and medium entrepreneurs (some of them I have met) being the backbone of the Philippine economy. And so I thought, why not bring them together in a place where they can find fellow entrepreneurs, read success stories, exchange ideas, inspire one another, all for growing the business?

I was so inspired reading Accidental Entrepreneur by Puneet Srivastava, that I thought we ought to be working towards self-employment.

entrepreneur.jpg

 

 

 

 

This man sells fresh buko juice right from the husk and a juice concontion of buko, gulaman, and milk to provide refreshment to joggers in a Quezon City natural park.

A 10-point rationale had been circulating in my circle of entrepreneurs why one should not get employment, but that’s another story. Not getting employment can actually be a solution to the nagging and perpetual problem of unemployment in this country.

Employing yourself will be the thing of the future. Gone will be the days when getting a job is the coolest thing to do after college. And becoming the VP of a large corporation will no longer be impressive. That’s the highest position you can ever have because you cannot become President if you don’t own the company or at least own 51% of it.

You may be an accidental entrepreneur, a born entrepreneur, a budding entrepreneur, or an entrepreneur all your life. Whatever you are, you deserve to be acknowledged. You should get privileges. You should receive accolades. After all, you keep the economy afloat.

Entrepreneurs have the courage to take risks, experience the worst, and persist in the most difficult task of earning a living.

Do you have an entrepreneurial story to tell?

Tell it now!