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Monday, April 28, 2003

Some pointers before plunging into business

NOTE. This article was first published in The Manila Times - Business Section, and also at the following web address:
http://www.manilatimes.net/national/2003/apr/28/business/20030428bus12.html

We shall continue our Journey on Entrepreneurship. In my previous column, I asked the readers several questions to determine what business is right for them. To evaluate your answers and your business idea, first, list your reasons for wanting to go into business and keep this in mind all the time. These could be:

• To be your own boss
• To control your own time
• To have creative freedom
• To have financial independence, even get rich
• To fully use your knowledge, skills and network
• To turn your hobby into money
• To have power

It is also prudent, at this early stage, to recognize that there are challenges in having your own business.

• Losing money is a very real possibility. Your business might not succeed and you’ll never recover your start up capital, operational costs and more. You might even end up in deep debt situation.

• Starting and running your own business may entail high personal cost and sacrifices. You need to focus much of your energy, time, money and other resources into your business. Your family and friends might have to play second fiddle to your successful business venture. You might have to postpone that family vacation indefinitely. You might have to be up very early and retire very late with no rest in between.

• Managing a business means working with a lot more people like your customers, suppliers, employees, bankers, competitors, partners, people in your industry or profession, government bodies and regulators—past, present and future. You are not just responsible to a boss—everybody is your boss.

Here are some guides to determine the fit between you and your business idea.

1. To minimize these risks and to somehow immunize your business from them, start from a position of strength: start a business you know intimately. When I left my steady paying job in 1997 as an organization development specialist at Philippine Airlines, I went into the business of human resource and organization development consulting. It is right down the alley of my particular competencies, I am familiar with the ins and outs of operating a HROD operations and the business has a solid chance of profitability.

Don’t just go into business because it is the current fad. Don’t go into business that promises quick and big profits. Don’t put your money into something just because some senators and friends told you, “it’s a sure thing.” Most likely, these are business scams.

Getting into a business where you already have experience and competencies increases your advantage and chance at success. Already you have a network of contacts who could help you in getting financing, suppliers and customers.

2. If you are going into unfamiliar territory, but are dead set on it, be prepared to spend enough time learning about the business before you start and all throughout the life of your business. Mr. Jeff Bezos has never been an insider in the business of books before he established Amazon.com. But he is a committed entrepreneur and a relentless lifelong learner.

Don’t give up if you truly believe in that business idea. Get some experience in the business that you chose —even if you need to work for free. If you want to go into the day-care service but have never spent a day inside one, volunteer as a helper for minimum wage or even for free. Get to know the ins and outs of the business and learn everything you can about all areas. Talk to people who share your business idea.

3. Try it out. When you are at it, sense if you really enjoy the business and have the capacity to excel at it. You have a better chance at success if you really like what you are doing, if you have the “stomach” for everything it takes to make a go at it and if you have the right values and attitude to commit to it for the long term.

4. Assess your willingness and ability to handle all areas of your business. You can’t just turn over the financial processes and documentation to your hired accountant. You need to know about accounting and finance, marketing, operations, human resource development and general management of your business. You need to be ready to put in your heart, mind, body and soul whenever and wherever something needs to be done or things are not getting done.

5. Determine the financial soundness of your business idea. You need to studiously analyze your market and do break-even analysis as you progress. If you are able to realize revenues more than your break-even point all the time, congratulations! You’re on the road to success.

6. Continually evaluate the risks in your chosen business. Be critical and careful in preparing, reviewing and renewing your business plan. Even the best-laid plan could go awry and fly given particularly challenging situations. For example, SARS is now wrecking havoc to many business plans in different industries especially in Hongkong, China, Singapore and Canada. You need to know when and where to turn when things go everywhere but to your intended direction. You also need to know when and how to take steps backward, sideward or forward; backtrack and regroup; move forward and persevere; do nothing and hang on; or just quit.

7. Also take notice of external factors like government support. There are certain business ideas that government encourage and support with tax breaks, special financing programs and marketing incentives. These are deemed to contribute to our country’s development such as businesses that are export-oriented, employment-generating and small-medium scale.

Be aware also of businesses that will hasten the development and growth of our economy and people. Examples are engineering and IT industries and also pharmaceuticals, education, and energy development.

Next Monday, we shall discuss break-even analysis to know if your business idea will make money, at least in theory. A good business idea might not be financially viable.

WORLD PEACE. Let’s pitch in to make our world the best place to live in. Let us clean up our own mess in our career, personal, family and spiritual relationships. Never mind the mess of others. A text message from Atty. Benru del Rosario: One of the nicest things I love about mornings is that God doesn’t only give us a brand new day; but he also wraps it up with new hope and new beginning.

American Society for Training & Development. ASTD International Conference & Exposition will be held on May 18-22, 2003 at the San Diego Convention Center, San Diego California. For details and brochure, please call Ms. Malou Amante (715-9332) or Phiscan Travel (Thelma or Che, 843-1252)
(Moje Ramos-Aquino is president of Paradigms & Paradoxes Consultants and assists small and medium companies in their human resource and organization development efforts. She could be reached at moje@mydestiny.net.)

Monday, April 21, 2003

Reflections for after Holy Week

NOTE. This article was first published in The Manila Times - Business Section, and also at the following web address:
http://www.manilatimes.net/national/2003/apr/21/business/20030421bus16.html

Happy Easter! Best time to turn in a new leaf, so to speak, is when we have just been given a new leash in life. Today it is.

All year round we’ve been thinking, feeling and sensing our life here on earth. Since it’s just after Holy Week, let us focus on our relationship with Him. I am sharing with you today email forwards that we could use for our reflection.

This “Five Finger Prayer” is from Bunny Gerochi of First Philippine Holdings Corp.:

Your thumb is nearest to you. So begin your prayers by praying for those closest to you and those around you. They are the easiest to remember. To pray for our loved ones is, as C.S. Lewis once said, a “sweet duty”.

The next finger is the point finger.

Pray for those who teach, instruct and heal. This includes teachers, medical practitioners, and spiritual leaders and workers. They need your support and wisdom in pointing others in the right direction. Keep them in your prayers.

The next finger is the tall finger. It reminds us of our leaders. These people shape our nation, our organizations and our companies. They guide public opinion and sway public sentiments. They need God’s guidance. The fourth finger is our ring finger.

Surprising to many is the fact that this is our weakest finger as any piano teacher will testify. It should remind us to pray for those who are weak, in trouble or in pain. They need your prayers day and night. You cannot pray too much for them.

And lastly comes our little finger which is where we should place ourselves in relation to God and others. As the Bible says, “the least shall be the greatest among you.” Your pinky should remind you to pray for yourself. By the time you have prayed for the other four groups, your own needs will be put into proper perspective and you will be able to pray for yourself more effectively.

“Put The Glass Down” is from Ernie Cabral of Meralco.

A lecturer was giving a workshop on stress management. He raised a glass of water and asked the audience, “How heavy do you think this glass of water is?”
The students’ answers ranged from 20g to 500gm. “It does not matter on the absolute weight. It depends on how long you hold it. If I hold it for a minute, it is light. If I hold it for an hour, it becomes heavy and I will have an ache in my right arm. If I hold it for a day, you will have to call an ambulance. It is the exact same weight, but the longer I hold it, the heavier it becomes.”

“If we carry our burdens all the time, sooner or later, we will not be able to carry on, the burden becoming increasingly heavier. What we have to do is to put the glass down, rest for a while before holding it up again. We have to put down the burden periodically, so that we can be refreshed and be able to carry on. So before you return home from work tonight, put the burden of work down. Don’t carry it back home. You can pick it up tomorrow.”

“Whatever burdens you are having now on your shoulders, let it down for a moment if you can.

Pick it up again later when you have rested....Rest and relax. Best of all, let go and let God take over.”

This moving “Whatever Your Cross” was forwarded by Hermie Adriano of Goodyear Philippines.

Whatever your cross, whatever your pain
There will always be sunshine after the rain.
Perhaps you may stumble, perhaps even fall
But God is always ready to answer your call.

He knows every heartache, sees every tear
A word from His lips can calm every fear.
Your sorrows may linger throughout the night,
But suddenly vanish at dawn’s early light.


The savior is waiting somewhere above,
To give you His grace and send you His love.
Whatever your cross, whatever your pain,
God always sends rainbows after the rain.

Venus Tiamson of Virginia, USA, wants us to remember these:

God won’t ask what kind of car you drove, but He’ll ask how many people you drove who didn’t have transportation.

God won’t ask the square footage of your house, but He’ll ask how many people you welcomed into your home.

God won’t ask about the clothes you had in your closet, but He’ll ask how many you helped to clothe.

God won’t ask what your highest salary was, but He’ll ask if you compromised your character to obtain it.

God won’t ask what your job title was, but He’ll ask if you performed your job to the best of our ability.

God won’t ask how many friends you had, but He’ll ask how many people to whom you were a friend.

God won’t ask in what neighborhood you lived, but He’ll ask how you treated your neighbors.

God won’t ask about the color of your skin, but He’ll ask about the content of your character.

God won’t ask why it took you so long to seek Salvation, but He’ll lovingly take you to your mansion in heaven, and not to the gates of Hell.

DALE CARNEGIE. Boost your self-confidence and personal business skills. A new class is starting April 21, 6 to 9 p.m. at the 5/FGaleria Corporate Center, EDSA, QC. Call Ms. Serely Alcaraz at 897-2484.

WORLD PEACE. Contribute to world peace by simply having a meaningful and God-filled year.

(Moje Ramos-Aquino is president of Paradigms & Paradoxes Consultants and assists small and medium companies in their human resource and organization development efforts. She could be reached at moje@mydestiny.net.)

Monday, April 14, 2003

Reflections for the Holy Week (Unpublished)

LEARNING & INNOVATION (April 14, 2003)
Moje Ramos-Aquino

Reflections for the Holy Week

All year round we’ve been thinking, feeling and sensing our life here on earth. Since it’s Holy Week, let’s us focus on our relationship with Him. I am sharing with you today email forwards that we could use for our reflection.

This “Five Finger Prayer” is from Bunny Gerochi of First Philippine Holdings Corp.:

Your thumb is nearest to you. So begin your prayers by praying for those closest to you and those around you. They are the easiest to remember. To pray for our loved ones is, as C.S. Lewis once said, a "sweet duty".

The next finger is the pointing finger. Pray for those who teach, instruct and heal. This includes teachers, medical practitioners, and spiritual leaders and workers. They need your support and wisdom in pointing others in the right direction. Keep them in your prayers.

The next finger is the tall finger. It reminds us of our leaders. These people shape our nation, our organizations and our companies. They guide public opinion and sway public sentiments. They need God's guidance.

The fourth finger is our ring finger. Surprising to many is the fact that this is our weakest finger as any piano teacher will testify. It should remind us to pray for those who are weak, in trouble or in pain. They need your prayers day and night. You cannot pray too much for them.

And lastly comes our little finger which is where we should place ourselves in relation to God and others. As the Bible says, "the least shall be the greatest among you." Your pinky should remind you to pray for yourself. By the time you have prayed for the other four groups, your own needs will be put into proper perspective and you will be able to pray for yourself more effectively.

“Put The Glass Down” is from Ernie Cabral of Meralco.

A lecturer was giving a workshop on stress management. He raised a glass of water and asked the audience, "How heavy do you think this glass of water is?"

The students' answers ranged from 20g to 500gm. "It does not matter on the absolute weight. It depends on how long you hold it. If I hold it for a minute, it is light.

”If I hold it for an hour, it becomes heavy and I will have an ache in my right arm. If I hold it for a day, you will have to call an ambulance. It is the exact same weight, but the longer I hold it, the heavier it becomes.

"If we carry our burdens all the time, sooner or later, we will not be able to carry on, the burden becoming increasingly heavier. What we have to do is to put the glass down, rest for a while before holding it up again.

”We have to put down the burden periodically, so that we can be refreshed and be able to carry on. So before you return home from work tonight, put the burden of work down. Don't carry it back home. You can pick it up tomorrow.

”Whatever burdens you are having now on your shoulders, let it down for a moment if you can.
Pick it up again later when you have rested....

”Rest and relax. Best of all, let go and let God take over.”

“Whatever Your Cross” was forwarded by Hermie Adriano of Goodyear Philippines.

Whatever your cross, whatever your pain,
There will always be sunshine after the rain.
Perhaps you may stumble, perhaps even fall,
But God is always ready to answer your call.
He knows every heartache, sees every tear,
A work from His lips can calm every fear.
Your sorrows may linger throughout the night,
But suddenly vanish at dawn's early light.
The Savior is waiting somewhere above,
To give you His grace and send you His love.
Whatever your cross, whatever your pain,
God always sends rainbows after the rain.
Venus Tiamson of Virginia, USA, wants us to remember these:


God won't ask what kind of car you drove, but He'll ask how many people you drove who didn't have transportation.

God won't ask the square footage of your house, but He'll ask how many people you welcomed into your home.

God won't ask about the clothes you had in your closet, but He'll ask how many you helped to clothe.

God won't ask what your highest salary was, but He'll ask if you compromised your character to obtain it.

God won't ask what your job title was, but He'll ask if you performed your job to the best of our ability.

God won't ask how many friends you had, but He'll ask how many people to whom you were a friend.

God won't ask in what neighborhood you lived, but He'll ask how you treated your neighbors.

God won't ask about the color of your skin, but He'll ask about the content of your character.

God won't ask why it took you so long to seek Salvation, but He'll lovingly take you to your mansion in heaven, and not to the gates of Hell.

Contribute to world peace by simply having a meaningful and God-filled Holy Week.

(Moje is president of Paradigms & Paradoxes Consultants, a communication and training intervention provider. She invites your feedback thru moje@mydestiny.net)

Monday, April 7, 2003

Entrepreneur’s first investment: Generating ideas

NOTE. This article was first published in The Manila Times - Business Section, and also at the following web address:
http://www.manilatimes.net/national/2003/apr/07/business/20030407bus16.html


THE reason business scams continue to attract people is that we are not so discerning because we have already lost grip of our personal values. We are very trusting or we are easily lured by our own greed and the prospect of the fast buck or we are simply lazy and, therefore, we easily suck up to other people with ready business ideas.

Who says the Philippines is poor? Think about all those billions of dollars that those unscrupulous scammers brought out of the country. This is the kind of war that we should wage to the finish. Let us make sure that those con artists pay for their heinous deed.

The best cure is prevention. More than legal actions, our national and local government and every family system should not just talk about it but should start the transformation of our society by resurrecting and acting upon traditional and time-tested values such as honesty, integrity and sincerity.

In this our Journey on Entrepreneurship, let us backtrack a bit and talk about legitimate business ideas. This is a way for us to immunize ourselves against con artists and help us determine the best way we could benefit from our investments by doing honest work.

Again, our country needs inventors, creators and innovators who would produce, manufacture or create new products, technology or ideas. Already we have more than enough traders, retailers, merchants, buy-and-sell people and other middlemen or go-between the producers and the customers.

More than any other resource, generating ideas is the first pro­cess and investment to becoming an entrepreneur. This involves thinking things through, asking all sorts of questions, seeking clear answers, identifying central and peripheral concepts, testing assumptions and premises and coordinating divergent thoughts and beliefs.

The process of ideating also involves the exciting exercise of playing with ideas—combining, simplifying and making them complex by adding, subtracting, multiplying or dividing them. Remember, Albert Einstein discovered the Theory of Relativity by seriously and earnestly playing with the idea in his mind. He did not need money to do that. He invested mostly intelligence, integrity and keen sense of vision and mission. He was relentless, purposive, patient, deep thinking, discerning, exhaustive and enthusiastic among others.

Thinking, though, precedes planning and acting.

Let’s try. First we will do a SWOT analysis. One way to do this is to brainstorm. I suggest that you do brainstorming alone. It is established that creativity resides in every person. Other people might distract you or even shoot down your ideas unnecessarily. Mr. Einstein worked alone; then, he tested his ideas on his fellow scientists.

How do you brainstorm? You need only one tool: paper and pencil or tape recorder or computer or PDA. If you are the type who works best in a quiet environment, go ahead and lock yourself up in your room. Pin a sign, “Don’t disturb, brain at work,” on the door. Or find a peaceful corner or bench in your office, park, the beach, or wherever.

My sons prefer loud music when they are thinking. At times, I am able to concentrate when I am in front of my computer with the TV set broadcasting news or a movie or the radio playing soft music.

There is only one rule in brainstorming: document your ideas as they come. Don’t linger on one idea. No ifs, no buts, no ands. Don’t evaluate any idea. Don’t erase anything. Just add new or contrary ideas it to your list. You may want to express the same idea in another language or simply paraphrase it. Once you’ve written down an idea, forget it and move on. Never mind duplication. That’s part of the pattern of life and nature. Eventually, everything will fall into place and the seeming mess will form a pattern. “ There is order in nature’s disorder,” says AIM Prof. Federico Macaranas.

You don’t have to do this in one seating. You can go back to it again and again. Take as much time as you want. For purposes of a guided discussion, you have one week. Then we will process your answers.

The main objective of our brainstorming is not only to determine what business you should be in but also to fire your motivation and ambition. We will search for a singular business idea that could propel you to success like Mr. Einstein. At this point, please don’t even think of the financial gains that you will eventually realize. Don’t think yet of the investment or capital you need, or the location, or size, or business plan. One at a time, please. Patience is a big virtue of an entrepreneur.

For every question, please generate ideas. Don’t bother about grammar or language. Just jot down what comes to your mind.

• Why do you want to start or go into a business?

• What do you enjoy doing or what delights you?

• What do you want to do with your time?

• What skills and talents do you have?

• What are your previous experience and training?

• What do others say you are good at?

• How much time do you have and are willing to run a successful business?

• What hobbies or interests do you have that are marketable?

Starting and running a business starts with an idea, your motivation and your ambition. Your answers to these questions will increase your chance for success.

PRAYERS & ACTIONS. Let us pray for the early resolution of the conflict in Iraq. Let us contri­bute to world peace. Let us make peace with our own enemies, real or imagined. Making peace means forgiving and asking for forgiveness; then forgetting about the past and turning a new leaf. Never mind who is at fault. There is today and a whole future in front of us.

ASTD UPDATE. For brochures about and travel package for the 2003 ASTD (American Society for Training & Development) International Conference & Exposition, please call Paradigms & Paradoxes Consultants (Malou Amante at 715-9332) or Philscan Travel (Thelma Dinoy and Che dela Cuesta at 816-6486 to 91).


Moje Ramos-Aquino is president of Paradigms & Paradoxes Corp., a human resource and organization development systems and training provider and could be reached via moje@mydestiny.net