Monday, March 12, 2007

Thursday, December 7, 2006

The Instant Sales Pro

The Instant Sales Pro:
600 Tips & Techniques to Accelerate Sales Success


Basic Accounting

Basic Accounting
By Cecille Chuapoco-Remedio

An accounting system facilitates management planning, control and decision-making. It helps a company to comply with laws, do routine administrative work, and protect its assets.

An accounting system is an organized arrangement of records, business machines, employees and procedures to gather, process, and report financial and other information so that your company may do business effectively. It comprises the related activities for processing and reporting financial data, the written records and reports vital to gathering, processing, storing and communicating information, the machines and devices used in the system to speed up and control work, and the employees directly involved in accounting.

An accounting system facilitates management planning, control and decision-making. It helps your company to comply with laws, do routine administrative work (like billing, paying, receiving and procuring), and protect the business by watching over its assets. Your company keeps an accounting system mainly to provide information on its operations and financial position to management, investors, government agencies, suppliers, clients or customers, labor groups and creditors. Its basic components are the following:

Business papers and forms. The business papers and forms are written documents or evidence of your company's transactions. They serve as a basis for recording those transactions on its books of accounts--its journals and ledgers--and fix responsibility for creating, recording or completing transactions. The company forms for those transactions affecting income include the Sales Order, Delivery Receipt, Sales Invoice, Provisional Receipt, Official Receipt, and Debit/Credit Note. The forms for those transactions affecting expenses include the Purchase Requisition, Canvass/Bid Sheet, Purchase Order, Receiving Report, Check Vouchers, Cash Vouchers, and Debit/Credit Note.

To make effective documents, your company must design all of them with the user in mind. They must be user-friendly and take into account the number of users and their needs. They must be self-descriptive, legible, serially numbered, and provide enough space for signatures.

Business machines. Your office machines and equipment facilitate the recording, processing, and storing of the business transactions documented in the forms. They enhance your internal control system. These machines include your calculators, cash registers, adding machines, typewriters, time-recording machines, check writers, mimeographing machines, photocopiers, computers and filing equipment. Your company would have determined the cost of acquiring and maintaining its machines before buying them.

Journals and ledgers. Your company's book of accounts consists of journals and ledgers. It records all its business activities in these ledgers. Simple businesses use only a general journal and a general ledger as books of accounts, but more diverse businesses use special journals to record more transactions. Special journals reduce the time spent on detailed recording, improve internal control, and allow division of labor--since your company may assign a different employee to handle each journal. The most commonly used special journals include the Sales Journal (for recording sales on credit), the Purchases Journal (for recording purchases on credit), the Cash Receipts Journal (for booking all cash payments received), and the Cash Disbursements Journal (for booking all cash paid out).

'Special journals reduce the time spent on detailed recording, improve internal control, and allow division of labor.'
Some businesses may use a Check Register to record all transactions requiring check disbursements, and a Voucher Register (instead of the Cash Disbursements Journal) to record all transactions requiring cash disbursements. Your company may use a combination of journals depending on its volume of transactions. The journals that are usually combined are the Cash Receipts and Disbursements Journal, the Sales and Cash Receipts Journal, and the Purchases and Cash Disbursements Journal.

The Chart of Accounts. Your company uses this chart to list all accounts in systematic form with identifying numbers or symbols. The aim is to provide the framework for summarizing your company's business operations. The specific accounts your company requires will depend on the nature of its business, its activities, the information it must provide in its financial statements, and its controls on the accounting functions.

In designing the Chart of Accounts, it's important that your company include all types of transactions, and to classify them in sequence to help it prepare its financial reports. It must clearly define the use of each account, which must be specific to establish control of management accountability.

Financial reports. These are usually the output of your accounting process. They include the Balance Sheet, Income Statement, and Statement of Changes in the Cash Flows. Your company may prepare other schedules and reports according to what your management and other parties like investors, lenders, and government agencies require of it.

This article appears in the October 2004 issue of Entrepreneur Philippines. Get more helpful articles like this from every issue of Entrepreneur Philippines!

Wednesday, December 6, 2006

Schaum's Easy Outline Bookkeeping and Accounting

Schaum's Easy Outline Bookkeeping and Accounting

What could be better than the bestselling Schaum’s Outline series? For students looking for a quick nuts-and-bolts overview, it would have to be Schaum’s Easy Outline series. Every book in this series is a pared-down, simplified, and tightly focused version of its predecessor. With an emphasis on clarity and brevity, each new title features a streamlined and updated format and the absolute essence of the subject, presented in a concise and readily understandable form. Graphic elements such as sidebars, reader-alert icons, and boxed highlights stress selected points from the text, illuminate keys to learning, and give students quick pointers to the essentials.


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Wednesday, November 29, 2006

Entrepreneurship 101

Be Your Own Boss
Entrepreneurship 101
By Ma. Teresa Herrera

It's not necessary to study to become an entrepreneur, but doing so will help you avoid common mistakes, shorten your learning curve or validate your assumptions.

The increasing number of people putting up their own business has pushed three schools to offer entrepreneurship in their college and graduate curriculum. The Ateneo Center for Continuing Education holds regular seminars and workshops for existing and aspiring entrepreneurs. The Asian Institute of Management is offering a master's degree, and Mirriam College an undergraduate degree, in entrepreneurship. While it's not necessary to go to school to learn to run a business, many entrepreneurs are finding out that it pays to study to avoid common mistakes, shorten their learning curve or validate their assumptions.

Of the many things drilled into his head at AIM's Asian Center for Entrepreneurship, Daniel Abelarde remembers being told to "shut up and listen to your customers." Abelarde, general manager of Herbcare Corp., maker of the best-selling Charantia, a food supplement with bitter melon as the main ingredient, spent P350,000 for the 18-month course. "The tuition depends on the size of your business. If your business is bigger, the rate is a bit higher," he says.

Compared with other courses that thrive in theories and case studies, AIM's course in entrepreneurship features no grades, quizzes or exams. Teachers decide if a student flunks or passes by looking at his business, and for this reason it requires each student to have a business to take up studies. "The business should be more successful after the completion of the course for the gurus to determine if you pass or flunk," says Abelarde, whose Herbcare business took off after he finished the course. Alejandro Ferreria, dean of the Asian Center for Entrepreneurship, says the master's program aims to transform the entrepreneur and his enterprise. "That is why one of the requirements for aspiring students is that they own and manage a registered business for a minimum of one year. What they learn from the course is translated into practical strategies and programs that can be immediately applied to their business," he says.

'The day an entrepreneur ignores his gut feel is the day entrepreneurship dies.'
Abelarde, a graduate of applied physics from the University of the Philippines, says his 18-month course thought him the value of marketing, finance and human resources. But a degree in entrepreneurship gives you only so much. "In business you can't be sure of anything. What you need to value is the fact that you have gained experience, knowledge and skills that no one can take away," he says. "Gut feel is still key. A master's degree teaches you to validate, but you can only validate so much. The day an entrepreneur ignores his gut feel is the day entrepreneurship dies."

Grace Carlos Go learned to have "a vision, a long-term goal and a game plan, among other things, from her undergraduate entrepreneurial course at Miriam College. Go, owner of B+2G Ticketing Office, a two-year-old company offering airline and shipping tickets and local and international tours, says she took the course on her parents' advice. "At first I felt it was not for me, but after my second year I learned to love it," she says. The course taught her the value of teamwork, risk-taking, creativity and innovation, and business and management skills. It allowed students to make mistakes "because mistakes are part of learning."

The course also required business simulation. "Our group decided to write about the potential of a day care center in Salcedo Village in Makati, and though we didn't earn from the project, we proved it was feasible," says Go. Tony Lopez, chairman of Miriam's Entrepreneurship Department, says business simulation allows students to do everything related to putting up a business: from conceptualizing it to registering and running it. "Mingling with entrepreneurs is likewise very important," he says. "That is why we made interaction with entrepreneurs a part of the curriculum. We also encourage our students to attend international symposiums, workshops or seminars."

Go says it's an advantage to study entrepreneurship, but learning from real-life situations is still more important. Haresh Thakur, vice president of Sitla, an importer of musical instruments, agrees. "I know a lot of successful businessmen who don't have a business diploma or certificate," he says. "A degree is not a guarantee of success. It's more important to venture into something that you love or enjoy doing." Thakur, who finished only high school, eventually assumed management of the company that his parents started with P600,000 in capital 1992. Today it grosses P3 million a year.

"When my parents first came here my father put up a department store in Baguio City, were they settled," he says. They moved to Manila and put up Sitla after the deadly earthquake of 1992, and eventually Luau, a bar and grill, in Makati. "It was my father who showed me the ropes," says Thakur. "All I have is gut feel."

This article appears in the November 2004 issue of Entrepreneur Philippines. Get more helpful articles like this from every issue of Entrepreneur Philippines!

Tuesday, November 28, 2006

The Greatest Money-Making Secret in History by Joe Vitale

The Greatest Money-Making Secret in History by Joe Vitale:

Monday, November 27, 2006

The Science of Getting Rich - Wallace Wattles

The Science of Getting Rich
by Wallace Wattles

Fantastic! A down-to-earth, clear-cut and practical guide. A mental and spiritual approach on how to become rich.

No bones about it, when you follow the thoughts presented in this book, you too will become rich, without the feelings of guilt.

As a matter of fact, the authors write that the poverty-stricken (and even the middle class) should be the ones to feel guilty by not living up to their true potential as Thinking Beings.

Intended for the men and women whose most pressing need is for money; who wish to get rich first, and philosophize afterward. It is pragmatical, not philosophical; a practical manual, not a lot of theory.

It is for those who have, so far, found neither the time, the means, nor the opportunity to go deeply into the study of metaphysics, but who want prosperous results and who are willing to take the conclusions of science as a basis for action.

Whatever may be said in praise of poverty, the fact remains that it is not possible to live a really complete or successful life unless one is rich. You cannot rise to your greatest possible height in talent or soul development unless you have plenty of money. For to unfold your soul and to develop talent you must have many things to use, and you cannot have these things unless you have money in which to buy them.


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Speeches from John Gokongwei Jr. (JG Summit Holdings)

John Gokongwei Jr. is one Filipino Entrepreneur worthy of salute. Not only has he survived the adversities of Life, he remained unafraid and visionary in his chosen profession (Entrepreneurship) - for love of Family and of Country. I find his speeches to Filipino Graduates (in their early 20s) timely and humbling in his own generous Experiencial Sharing. I foresee that a JGJ AutoBiography would be a bestseller. On the other hand, I ask the question: "Would JGJ talk differently to Filipino Seniors still wanting to be economically productive?"

Speech delivered last March 1, 2002 during the launch of the Ateneo de Manila University John Gokongwei School of Management

Good morning.

I am John Gokongwei, Jr. I am not an Atenean but I feel at home with you. Today, at least.

Sixty-two years ago, I could not have dreamt of appearing before the Jesuits and their students to tell the story of MY life. I was no more than a student then, at San Carlos University in Cebu, when my father died suddenly. It left me, the eldest, the responsibility of taking care of my mother and five siblings. That was tough for someone who was 13. Creditors had just seized our home and business and I had no experience with earning a living.

But here I am--not all on account of my good looks or charming personality--but because I somehow survived. And when I look back, I know now that I did so because I recognized CHANGE when I saw it.

The first change was war. I had turned 15. My mother had already sent my brothers and sister to China where the cost of living was lower. From Cebu, she and I had to make money to send to them.

I turned to peddling. My day began at 5 in the morning. I would load my bicycle with soap, thread, and candles, and then bike to neighboring towns to sell my goods. On market days, I would rent a stall, lay out the goods from the bike, and make about 20 pesos a day, enough for me to survive and to buy even more goods for next time. Those days, you might call my BICYCLE AGE.

After two years of biking and peddling, at 17, I entered my BATEL AGE. The batel was a small, very utilitarian boat that defied the open sea and would take me farther from Cebu and all the way to Lucena, from where I would take a truck to Manila, with companions twice or thrice my age. The sea trips could take two to three weeks depending on the weather, and the land trips another five to six hours. (I was lighter then, you can imagine.)

On the batel, I read books like Gone with the Wind under the great blue sky to pass away the time, even if we traders were always in fear of sea pirates and the bad weather.

Once, our batel hit a rock and sank. Thank heavens for my rubber tires! Those were the goods I had with me to sell in Manila. Well, we all held on to those tires, which meant I saved all those traders and those traders saved all my tires.

At that time, the War was still going on. Ironically, I look back at the War with the fondest of memories. It was the great equalizer. Almost everyone I knew had lost big and small fortunes at the time. This meant we all started at ground zero. Ground zero meant living by our wits alone; ground zero meant starting equal; ground zero was where I discovered I was an entrepreneur.

When the War ended, I was 19. Because of the war, the economy was more dependent than ever on imports. So when I set up Amasia, my first company, it was to import textile remnants, fruit, old newspapers and magazines, and used clothing from the US.

There was a side benefit to this. I would wear some of my own stock, so I would have different clothes to wear when I went courting Elizabeth, the woman who would be my wife. But at the end of it, I made some money.

The Bicycle Age was over. The TRADING AGE began.

By then, my brothers and sister returned from China. Together, we worked in the trading business I had begun: as bodegeros, clerks, warehousemen, cashiers, and collectors. And all this while they were all still going to school; me, I stopped schooling. Like most Chinese-Filipino families, we worked where we lived, and at times, we had to endure the stench of rotten oranges and potatoes filling our two-story apartment.

By the early '50s, we were importing cigarettes and whiskey as well. Business was good. But two factors made me change strategies again. First, I saw that trading would in time become a low-margin business BECAUSE we were at the mercy of our suppliers and buyers. Second, I saw that the government was working on import-substitution policies to encourage local business. President Quirino wanted to shore up the country's foreign exchange reserves that had been depleted as a result of the high importation of the post-war years.

So I decided to enter the AGE of MANUFACTURING. In 1957, I started a corn milling plant producing glucose and cornstarch. Why cornstarch? Because I thought--and it turned out, correctly--that the unglamorous cornstarch would be in great demand from better known businesses like textiles, paper, ice cream, pharmaceuticals, and beer.

But there was one problem: I needed capital. That was not easy. I was 30, had no big company success to back me up, and I didn't know any bankers.

Thankfully, Dr. Albino Sycip, then chairman of China Bank, and DK Chiong, then president, gave me a clean loan of P500,000 to start my business. He would be asked later why he did that and he said something about knowing a good man when he saw one. (Maybe he knew something I didn't.) Anyway, from there Universal Corn Products, the predecessor of Universal Robina Corporation, was born.

Of course, the bigger cornstarch players did not give us an easy time. They engaged us in a price war. That is a nice way of saying they tried to kill us by selling low.

But we prevailed, and started to get clients like San Miguel Corporation. It was my first real taste of compet1t1on. And I liked it. I think THAT first experience prepared me for the bigger, tougher competitors in my future.

By 1961, cornstarch was becoming a commodity, and I saw that there was no future in a business where we had to keep lowering margins to survive.

It was time to get into the bigger, and riskier, game played by big multinationals like Procter and Gamble and Nestle. I saw that all they did to capture the market was to brand their products, for instance their coffee and their toothpaste. That is, give their coffee and toothpaste a name, a face, and an image that customers would instantly recognize and identify with quality. Me, I dreamt that one day I would be the Philippine Nestle or General Foods. So the Manufacturing Age for me was giving way to the AGE of BRANDS.

So, we put up CFC, and our first successful product was Blend 45, an instant coffee we put out to directly compete with Nestle's Nescafe. We positioned it as "the poor man's coffee," hired top movie star Susan Roces to endorse it, and employed Procter-and-Gamble veterans to sell it. Basically, we took a page out of the multinational book, and applied it to our business. We gave our coffee, snack food, candy, and chocolates a name, a face, an image. Today, Jack and Jill, Max candy, and Cloud 9 have become household names.

It was also at this time that I returned to school for an MBA--with all due respect to the Jesuits, at De La Salle University--and a decade later, for a 14-week advanced management program at Harvard. Going back to the university for studies which war had interrupted gave me an appreciation, believe me, for the beauty and the breadth of business life. This is something I believe I would never have gained if I had chosen to stop my education.

The success of URC opened up many opportunities for our group. We had the choice to focus on food where we were very successful-or to pursue other businesses. We decided that there were too many good opportunities to pass up, and that remaining in our comfort zone would stunt our growth. So we got into the Age of Expansion.

For the next two decades, we pursued businesses that answered positive on FOUR CRUCIAL QUESTIONS.

First: Is there a market?

Second: Could we compete against both local and foreign players?

Third: Could we find the right people for the job and did we have enough capital to pursue the business?

Last and most important: Did we have the stomach for it? That is, could we take the sleepless nights, the cutthroat compet1t1on?

We went into textiles, retail, real estate, telecommunications, aviation, banking, and petrochemicals because we said YES to all those questions. Still, in all those industries, we were faced with tough and worthy competitors: the mighty SM Department Stores and Malls, the unbeatable PLDT, the entrenched Philippine Airlines and the powerful San Miguel Corporation. Most pundits expected us to fail. They were wrong. Robinsons Stores and Mall, Digitel, Cebu Pacific Air and Universal Robina Corporation are now market leaders in their respective fields.

That's because they offered the public a choice.

Remember the story of David and Goliath? Every industry has its Goliath. But every David knows that all giants have their weaknesses. Every weakness is an opportunity.

In a few months, we will launch our mobile services to compete with two giants, Globe and Smart. Our stomachs are churning for sure, but we know that we faced similar challenges before, and we are hopeful we can prove the pundits wrong again.

In the past decade, which is one-sixth of my entire business life, the company has tripled in size. This was the decade when our companies raised money from the global equity and debt markets, brought our companies public, and hired the best professionals to run them. In six decades, we grew from a one-man team to a group with 30,000 employees.

Now I am in what you can probably call the AGE of GLOBALIZATION. I am always asked where I stand on this issue. I say that it does NOT matter where I stand because as sure as the Ateneo Basketball Team will win next year's UAAP championship, global barriers will come crashing down, and we have no choice but to prepare ourselves for that.

Still, our company will not take globalization sitting down. OUR future and the country's depend on how we act now. JG operates branded food concerns in Malaysia, Indonesia, Singapore, Thailand, Hongkong, China, and soon, Vietnam. We also sell our snack foods in India, Korea, and Taiwan--one of the few ASEAN companies to do so.

In a few years, when foreign products find their way into OUR shopping carts as they already have, we want Piattos and Chippy to find their way into THEIR shopping carts as well. Our dream is to be the first group to plant the Philippine flag throughout Asia.

As I look back, I ask myself, "What if I had stopped at cornstarch?" I would probably be the owner of the biggest cornstarch group in the country today or just as possibly, be broke.

But I chose to live my life unafraid even during times when I WAS afraid. I discovered that opportunities don't find you;/ you find your opportunities. I found those opportunities when MY FATHER PASSED AWAY, WHEN WAR CAME, THROUGH CHANGES IN PRESIDENTS AND THEIR POLICIES, DURING MARTIAL LAW, DESPITE COUP DE ETATS, PAST ECONOMIC BOOMS AND BUSTS, AND IN THE MIDST OF MARKET SHIFTS AND MOVEMENTS.

Now I'm 75 and retired. And funny, but I often wonder what ever happened to my first bike! The bike that was my companion during those first years when my family had lost everything. I wonder where it is now? That bike reminds me that success is not necessarily about connections, or cutting corners, or chamba--the three Cs of bad business.

Call it trite--but, believe me, success CAN BE ACHIEVED through hard work, frugality, integrity, responsiveness to change--and most of all, boldness to dream. These have never been just easy slogans for me. I have lived by them.

I hope that many of you in this room will some day choose to be entrepreneurs. Choose to be entrepreneur because then YOU create value. Choose to be an entrepreneur because the products, services, and jobs you create then become the lifeblood of our nation. But most of all, choose to be an entrepreneur because then you desire a life of adventure, endless challenge, and the opportunity to be your BEST SELF.

Thank you.

San Carlos University Speech
January 29, 2004

Maayong hapon sa inyong tanan.

His Eminence, Cardinal Ricardo Vidal, Rev. Father Roderick C. Salazar, Jr., President, University of San Carlos, Rev. Father Ben Nebres, President, Ateneo de Manila University, Senator John Osmena,Secretary Cesar Purisima, Dept. of Trade and Industry, Governor Pablo Garcia, Honorable Members of Congress from Cebu, [Congressman Raul del Mar, Congressman Simeon Kintanar, Congressman Antonio Cuenco, Congresswoman Clavell Asas Martinez, Congressman Joseph Ace Durano, Congressman Eduardo Gullas, Congressman Nerissa Soon-Ruiz, Congressman Antonio Yapha, Mayor Tomas Osmena, The Members of the Board of Trustees, Administrative Managers, Deans and Members of the Faculty, University of San Carlos, Distinguished Guest, Ladies and Gentlemen.

After an absence of 62 years, I am back in the school that I love-- where I finished my elementary school and high school. They say that England was built in the playing fields of Eton. I, meanwhile, was molded in the playing fields, classrooms, and chapels of San Carlos.

In San Carlos, I formed memorable friendships with Mario Mendezona, Paquito Borromeo, Dr. John Lim, Dr. Roberto Tojong, Ramiro Valenzuela, Roberto Estevez, Totoy Avellana, Dr. Mike Celdran, Chiling Garcia, Guillermo Gervacio, Jesus Go, Pepito Moras, and many others.

I learned from the Society of the Divine World the values that have guided me through the years.

First, discipline. I remember Father Smith, the head of discipline, punishing me for running past his office one day while classes were ongoing. The rule was never to run, but to walk slowly along corridors. My punishment was to stand in the corner of his office for three hours with my arms outstretched as if waiting to be crucified. He may have been a terror, but he taught me the value of discipline.

Second, love for learning. While I excelled in Math and Science, my favorite subjects were English, History, and Music taught by Fathers Krueger and Gries. I even learned to play the flute, a skill which I have—with deep regret-- since forgotten. I remember getting my first case of hives during our elementary school graduation rites. I was gunning for the gold and was very nervous that I would not get it. Fortunately, I did. The second time I got hives was when the girl I wanted to marry did not respond positively at first. Today, she is my wife, Elizabeth.

I would like to thank the following teachers-- Mr. Espiritu, Captain Trinidad, Mr. Fernandez, and Judge Militante, who is with us today and others.

Third, a Christian education. I remember attending a 5-minute prayer everyday. In fact, I was an altar boy. From San Carlos, I learned the importance of charity. Today, the Gokongwei Brothers Foundation gives every year a sum equivalent to 3 percent of JG Summit’s profit to educate talented Filipinos from all over the archipelago in engineering and the sciences, and to support education through donations to deserving institutions. Our school offers free advanced technical programs like industrial electronics, \process instrumentation, and others because we believe in the importance of practical sciences to bring this country further.

While in San Carlos, I never thought I would ever be an entrepreneur. I wanted to become a fighter pilot instead. But a series of events-- the death of my father and the outbreak of the War soon after-- forced me to drop out of school, and make a living selling candles, soap and thread in Cebu. I was 15 and I was supporting my family. Now, we are running an airline, Cebu Pacific.

Since then, I have not stopped working. From selling these commodities, I have graduated to more complex businesses. JG Summit, the company I founded, is engaged in seven core businesses. These are food manufacturing, textile manufacturing, petrochemicals, realestate, telecommunications, airlines, and banking. We are now the only Filipino multinational with operations in China, Singapore, Hongkong, Indonesia, Malaysia, Thailand, and this year, Vietnam. And within five years, we will fly Cebu Pacific Air to the US and Europe, and make sure that the word “Cebu” is on everybody’s lips.

My 62 years as an entrepreneur operating in many industries across Asia has given me a unique understanding of how business operates in different countries. I would like to share with you what I have learned today, if you would indulge me.

The question most asked of me as a businessman is whether the Filipino entrepreneur will survive in the new world? The answer to this is very important because we are faced with globalization through WTO and AFTA, where trade barriers will come tumbling down, and we will have to fight much stronger rivals.

Let me be more specific. We are now facing a preview of what the WTO and AFTA will bring. The AFTA lowers taxes of almost all imports to 5 percent and below. This means that cheap imports will soon flood our countries—rubber tires, garments, textiles and garments from Indonesia, petrochemicals from Singapore and Thailand, and many other products from various countries--making many local industries unviable. It also means that multinational companies will continue to move their factories overseas along with jobs, where they can manufacture more cheaply and efficiently.

In fact, Thailand can produce candies at a much cheaper price than here. With the almost-zero trade barriers, branded candies, some of them Filipino in origin, will be made there and exported to us. This will be a very common scenario in the future if we do not change. If this continues, we will be a country that creates nothing and imports everything.

I compare the Philippines to Thailand because of our similarities. We have almost the same population size. We have 86 million people, Thailand has 62 million. We share the same racial mix. We share the same abundant natural resources of fertile soil, palm oil, coconuts, and others. But why does the average Thai earn more than twice the average Filipino?

Therefore, the answer to this question—Can the Filipino slug it out in the boxing ring of the global economy?—is maybe. We may have a productive and educated labor force, but we do not have an effective entrepreneurial class who are the main drivers of growth in any country. Who else will create jobs after all? Sadly, in the Philippines, we have too few entrepreneurs and the few we have are wary of foreign compet1t1on.

We can only grow entrepreneurs and become a contender like Manny Pacquiao—a Filipino I admire immensely for being a world champ-- if risks are lessened and the following conditions are put in place.

First, access to capital, both short-term and long-term.

In Thailand where we operate a very profitable food manufacturing business, we borrow at rates as low as 2.3 percent for short term loans. Meanwhile, in the Philippines, we can only borrow at seven to eight percent. This means that the average Thai businessman is able to borrow money for a third the cost of his Filipino counterpart.

Even more important is access to long-term peso financing or financing payable in five years and longer. In Thailand, entrepreneurs can borrow at 5 percent for long-term. This allows them to build compet1t1ve industry and develop tourism necessary for any country’s development. That is why Thailand’s tourism industry is booming while ours is not progressing as well even if our beaches are more beautiful than theirs.

Here, there is a shortage of this type of financing. My recommendation is for companies to issue bonds in small denominations—say P5,000 with a maturity of at least five years— which will help finance industries, commercial and tourism projects and at the same time allow the average Filipino to partake in the economic fruits of such investments. For example, a housewife can choose to invest her money in a retail bond that will give her a higher return on her peso than what she is now earning.

In order to deepen the domestic capital market, government can create an institutional structure that will review tightly the issuance of bonds and keep taxes on such instruments at a minimum. The structure must also allow bonds to be traded like equity so that investors are assured of liquidity.

Second, better labor management. Our wages are compet1t1ve to Thailand’s but it is difficult for many local entrepreneurs to forecast their labor costs. For example, there may be times when labor may ask more than what the entrepreneur can give, hurting both of them in the end. Or when an employee does not share the same vision as the entrepreneur and becomes a liability to the whole organization.

I would like to recommend that the following law be passed that will please both labor and the entrepreneur. To give an extra one to six months separation pay on top of the present legislated separation pay— but to allow entrepreneurs to let go of people without any questions asked. This provides sufficient compensation for an employee to tide him over while he looks for another source of income. But this also allows the entrepreneur to be flexible when his business is bad. Furthermore, when an entrepreneur is allowed this flexibility, he is likely to hire more people, resulting in higher employment in general.

Third, cheaper power. In Thailand, our operations can buy power at P3.5 per kilowatt hour. Here, we pay P7 per kilowatt hour.

But we cannot fault Meralco and other power distributors for charging high rates because they have to buy power at a high rate as well. Therefore, I would like to recommend another win-win situation. Allow entrepreneurs to build power plants to supply their own power needs and then to sell excess power to each other within a certain boundary. This way Meralco need not lower
their rates and business can bring down their costs.

Just to give you an example of how we can cut down power costs. We have built power plants for two of our power-dependent businesses—petrochemicals and textiles. We did this because high power costs had killed most of our competitors in both industries.

With our own power plants, we can generate power at P2.75 per kilowatt hour. Imagine the savings Filipino entrepreneurs could generate at those rates! Besides, we will also be able to produce enough power to avoid the forecasted power shortage in 2006.

Fourth, agricultural productivity management. In the past, we produced rice and sugar for export. Today, we import both. Meanwhile, Thailand is one of the largest rice exporters in the world, and they can produce sugar at half our costs. Why is that?

Agriculture can be a pillar of our economy just as it is in Thailand. After all, many of our industries need the output from farms. We need sugar for candies, bakery products, and soft drinks. We need corn for the feed of our chickens and hogs. If only we could produce this at a cost comparable to Thailand, we could trim our costs, generate more profit and even pass some of this on to the consumer.

But more importantly, our farms must be geared to compete so that we can create jobs.

Finally, foreign exchange management. The fluctuation of the peso against the dollar over the past few years has ruined many businesses and has scared many entrepreneurs who need to borrow for projects.

In July, 1997, at the start of the last Asian crisis, the average rate for one U.S dollar was 29.48 Thai baht and 29.33 Philippine peso, about the same. Today, the baht has devalued to 39 baht to the dollar but the peso is inching its way to 56 pesos versus the dollar.

The Filipino businessman who borrowed a dollar worth P29 in July, 1997 must pay (_______) for the same dollar today.

In sum, if we had the same favorable conditions as Thailand—access to low-interest financing, long term financing through bond issues, realistic labor management, lower cost of power, more effective agricultural programs, and a more stable peso—we would entice a lot of entrepreneurs to invest. This will improve the investment climate dramatically.

With this investment environment, we will create an entrepreneurial class that will be more willing to take risks and therefore more prepared to take on the compet1t1on of the new world. I have refrained from speaking about graft and corruption, peace and order, population management, and poor infrastructure. That these must be solved is obvious.

After all, it is as simple and clear as human nature. It is important for entrepreneurs to estimate our risks and cost structures before we invest.

To end, I believe that there can be a better future for the Philippines and the Filipino. But we must first face reality. We cannot hide from the changes brought by the WTO and AFTA and must prepare by creating a class of Filipino entrepreneurs who will be able to compete with the best in the world. Entrepreneurs will create jobs and let me be clear in saying that no matter who the next president is, job creation must be top priority. I repeat job creation must be top priority.

I hope that these humble suggestions gleaned from 62 years of experience gives the government an idea of how the mind of an entrepreneur works, and hopefully bold and far-reaching reforms can be implemented to make the Philippine economy globally compet1t1ve, and to make the Philippine future brighter, more optimistic and exciting.

Thank you for honoring me with this doctorate. Coming from an institution that I love, I am filled with happiness and exhilaration. Thank you for also allowing me to share my thoughts on how to make our country better—in the only way I know how.

To all of you and especially my friends in San Carlos, I’m glad to be back after 62 years.

Kaninyong tanan, ug ilabi na gyud sa akong mga higala sa USC, ako malipayong nahibalik human sa saysinta y dos (62) ka tuig.

Nagpasalamat ako sa tibuk kung kasing-kasing.

Commencement Address
Ateneo de Manila University
March 27, 2004 By
John L. Gokongwei, Jr.

I wish I were one of you today, instead of a 77-year-old man, giving a speech you will probably forget when you wake up from your hangover tomorrow.
You may be surprised I feel this way. Many of you are feeling fearful and apprehensive about your future.
You are thinking that, perhaps, your Ateneo diploma will not mean a whole lot in the future in a country with too many problems. And you are probably right.
You are thinking that our country is slipping—no, sliding. Again, you may be right.
Twenty years ago, we were at par with countries like Thailand, Malaysia, and Singapore. Today, we are left way behind.
You know the facts.
Twenty years ago, the per capita income of the Filipino was 1,000 US dollars. Today, it’s 1,100 dollars. That’s a growth of only ten percent in twenty years. Meanwhile, Thailand’s per capita income today is double ours; Malaysia, triple ours; and Singapore, almost twenty times ours.
With globalization coming, you know it is even more urgent to wake up. Trade barriers are falling, which means we will have to compete harder.
In the new world, entrepreneurs will be forced to invest their money where it is most efficient. And that is not necessarily in the Philippines. Even for Filipino entrepreneurs, that can be the case.

For example, a Filipino brand like Maxx candy can be manufactured in Bangkok—where labor, taxes, power and financing are cheaper and more efficient—and then exported to other ASEAN countries.
This will be a common scenario—if things do not change.
Pretty soon, we will become a nation that buys everything and produces practically nothing. We will be like the prodigal son who took his father’s money and spent it all. The difference is that we do not have a generous father to run back to.
But despite this, I am still very excited about the future. I will tell you why later.
You have been taught at the Ateneo to be “a person for others.” Of course, that is noble: To serve your countrymen.
Question is: How?
And my answer is: Be an entrepreneur!
You may think I am just a foolish man talking mundane stuff when the question before him is almost philosophical. But I am being very thoughtful here, and if I may presume this about myself, being patriotic as well.
Entrepreneurship is the answer.
We need young people who will find the idea, grab the opportunity, take risk, and set aside comfort to set up businesses that will provide jobs.
But why? What are jobs?
Jobs are what allow people to feel useful and build their self-esteem. Jobs make people productive members of the community. Jobs make people feel they are worthy citizens. And jobs make a country worthy players in the world market.
In that order of things, it is the entrepreneurs who have the power to harness the creativity and talents of others to achieve a common good. This should leave the world a better place than it was.
Let me make it clear: Job creation is a priority for any nation to move forward.
For example, it is the young entrepreneurs of Malaysia, Thailand, and Singapore who created the dynamic businesses that have propelled their countries to the top. Young people like yourselves.
Meanwhile, in the Philippines, progress is slow. Very little is new. Hardly anything is fresh. With a few exceptions, the biggest companies before the war—like PLDT, Ayala, and San Miguel—are still the biggest companies today.
All right, being from the Ateneo, many of you probably have offers from these corporations already. You may even have offers from JG Summit.
I say: Great! Take these offers, work as hard as you can, learn everything these companies can teach—and then leave!
If you dream of creating something great, do not let a 9-to-5 job—even a high-paying one—lull you into a complacent, comfortable life. Let that high-paying job propel you toward entrepreneurship instead.
When I speak of the hardship ahead, I do not mean to be skeptical but realistic.
Even you Ateneans, who are famous for your eloquence, you cannot talk your way out of this one. There is nothing to do but to deal with it.
I learned this lesson when, as a 13-year-old, I lost my dad.
Before that, I was like many of you: a privileged kid. I went to Cebu’s best school; lived in a big house; and got free entrance to the Vision, the largest movie house in Cebu, which my father owned.
Then my dad died, and I lost all these. My family had become poor—poor enough to split my family. My mother and five siblings moved to China where the cost of living was lower. I was placed under the care of my Grand Uncle Manuel Gotianuy, who put me through school. But just two years later, the war broke out, and even my Uncle Manuel could no longer see me through.
I was out in the streets—literally.
Looking back, this time was one of the best times of my life. We lost everything, true, but so did everybody! War was the great equalizer. In that setting, anyone who was willing to size up the situation, use his wits, and work hard, could make it!
It was every man for himself, and I had to find a way to support myself and my family. I decided to be a market vendor.
Because it was something that I, a 15-year-old boy in short pants, could do.
I started by selling simple products in the palengke half an hour by bike from the city. I had a bicycle. I would wake up at five in the morning, load thread, soap and candles into my bike, and rush to the palengke.
I would rent a stall for one peso a day, lay out my goods on a table as big as this podium, and begin selling. I did that the whole day.
I sold about twenty pesos of goods every day. Today, twenty pesos will only allow you to send twenty text messages to your crush, but 63 years ago, it was enough to support my family. And it left me enough to plow back into my small, but growing, business.
I was the youngest vendor in the palengke, but that didn’t faze me. In fact, I rather saw it as an opportunity. Remember, that was 63 years and 100 pounds ago, so I could move faster, stay under the sun more, and keep selling longer than everyone else.
Then, when I had enough money and more confidence, I decided to travel to Manila from Cebu to sell all kinds of goods like rubber tires.
Instead of my bike, I now traveled on a batel—a boat so small that on windless days, we would just float there. On bad days, the trip could take two weeks!
During one trip, our batel sank! We would have all perished in the sea were it not for my inventory of tires. The viajeros were happy because my tires saved their lives, and I was happy because the viajeros, by hanging on to them, saved my tires. On these long and lonely trips I had to entertain myself with books, like Gone With The Wind.
After the war, I had saved up 50,000 pesos. That was when you could buy a chicken for 20 centavos and a car for 2,000 pesos. I was 19 years old.
Now I had enough money to bring my family home from China. Once they were all here, they helped me expand our trading business to include imports. Remember that the war had left the Philippines with very few goods. So we imported whatever was needed and imported them from everywhere—including used clothes and textile remnants from the United States. We were probably the first ukay-ukay dealers here.
Then, when I had gained more experience and built my rep*tation, I borrowed money from the bank and got into manufacturing. I saw that coffee was abundant, and Nescafe of Nestle was too expensive for a country still rebuilding from the war, so my company created Blend 45.
That was our first branded hit. And from there, we had enough profits to launch Jack and Jill.
From one market stall, we are now in nine core businesses—including retail, real estate, publishing, petrochemicals, textiles, banking, food manufacturing, Cebu Pacific Air and Sun Cellular.
When we had shown success in the smaller businesses, we were able to raise money in the capital markets—through IPOs and bond offerings-- and then get into more complex, capital-intensive enterprises. We did it slow, but sure.
Success doesn’t happen overnight. It’s the small successes achieved day by day that build a company. So, don’t be impatient or focused on immediate financial rewards. I only started flying business class when I got too fat to fit in the economy seats.
And I even wore a used overcoat while courting my wife—it came from my ukay-ukay business. Thank God Elizabeth didn’t mind the mothball smell of my overcoat or maybe she wouldn’t have married me.
Save what you earn and plow it back.
And never forget your families! Your parents denied themselves many things to send you here. They could have traveled around the world a couple of times with the money they set aside for your education, and your social life, and your comforts.
Remember them—and thank them.
When you have families of your own, you must be home with them for at least one meal everyday.
I did that while I was building my company. Now, with all my six children married, I ask that we spend every Sunday lunch together, when everything under the sun is discussed.
As it is with business, so it is with family. There are no short cuts for building either one.
Remember, no short cuts.
Saint Ignatius of Loyola, your patron saint, and founder of this 450-year old organization I admire, described an ideal Jesuit as one who “lives with one foot raised.” I believe that means someone who is always ready to respond to opportunities.
Saint Ignatius knew that, to build a successful organization, he needed to recruit and educate men who were not afraid of change but were in fact excited by it.
In fact, the Jesuits were one of the earliest pract1t1oners of globalization. As early as the 16th century, upon reaching a foreign country, they compiled dictionaries in local languages like Tamil and Vietnamese so that they could spread their message in the local language. In a few centuries, they have been able to spread their mission in many countries through education.
The Jesuits have another quote. “Make the whole world your house” which means that the ideal Jesuit must be at home everywhere. By adapting to change, but at the same time staying true to their beliefs, the Society of Jesus has become the long-lasting and successful organization it is today and has made the world their house.
So, let live with one foot raised in facing the next big opportunity: globalization.
Globalization can be your greatest enemy. It will be your downfall if you are too afraid and too weak to fight it out. But it can also be your biggest ally.
With the Asian Free Trade agreement and tariffs near zero, your market has grown from 80 million Filipinos to half a billion Southeast Asians.
Imagine what that means to you as an entrepreneur if you are able to find a need and fill it. And imagine, too, what that will do for the economy of our country!
Yes, our government may not be perfect, and our economic environment not ideal, but true entrepreneurs will find opportunities anywhere.
Look at the young Filipino entrepreneurs who made it. When I say young—and I’m 77, remember—I am talking about those in their 50s and below. Tony Tan of Jollibee, Ben Chan of Bench, Rolando Hortaleza of Splash, and Wilson Lim of Abensons.
They’re the guys who weren’t content with the 9-to-5 job, who were willing to delay their gratification and comfort, and who created something new, something fresh.
Something Filipinos are now very proud of.
They all started small but now sell their hamburgers, T-shirts and cosmetics in Asia, America, and the Middle East.
In doing so, these young Filipino entrepreneurs created jobs while doing something they were passionate about.
Globalization is an opportunity of a lifetime—for you. And that is why I want to be out there with you instead of here behind this podium—perhaps too old and too slow to seize the opportunities you can.
Let me leave you with one last thought.
Trade barriers have fallen. The only barriers left are the barriers you have in your mind.
So, Ateneans, Class of 2004, heed the call of entrepreneurship.
With a little bit of will and a little bit of imagination, you can turn this crisis into your patriotic moment—and truly become a person for others.
“Live with one foot raised and make the world your house.”
To this great University, my sincerest thanks for this singular honor conferred on me today.
To the graduates, congratulations and Godspeed.
“Ad Majorem Dei Gloriam”.
Thank you.


Should You Be An Entrepreneur?

Studies of successful entrepreneurs reveal common characteristics—family backgrounds, experiences, motivations, personality traits, behaviors, values, and beliefs. How do you fit these patterns? What is your E.Q. (Entrepreneurial Quotient)? Northwestern Mutual Life has created the following test to predict how suited you are to entrepreneurship. This test cannot predict your success—it can only give you an idea whether you will have a head start or a handicap with which to work. Entrepreneurial skills can be learned. The test is intended to help you see how you compare with others who have been successful entrepreneurs.

Add or subtract your score as you evaluate yourself:

  1. Significantly high numbers of entrepreneurs are children of first-generation Americans. If your parents immigrated to the United States, score one. If not, score minus one.
  2. Successful entrepreneurs are not, as a rule, top achievers in school. If you were a top student, subtract four. If not, add four.
  3. Entrepreneurs are not especially enthusiastic about participating in group activities in school. If you enjoyed group activities—clubs, team sports, double dates—subtract one. If not, add one.
  4. Studies of entrepreneurs show that, as youngsters, they often preferred to be alone. Did you prefer to be alone as a youngster? If so, add one. If not, subtract one.
  5. Those who started enterprises during childhood—lemonade stands, family newspapers, greeting card sales—or ran for elected office at school can add two, because enterprise usually can be traced to an early age. If you didn't initiate enterprises, subtract two.
  6. Stubbornness as a child seems to translate into determination to do things one's own way—a hallmark of proven entrepreneurs. If you were stubborn as a child, add one. If not, subtract one.
  7. Caution may involve an unwillingness to take risks, a handicap for those embarking on previously uncharted territory. Were you a cautious youngster? If yes, deduct four. If no, add four.
  8. If you were daring or adventuresome, add four more.
  9. Entrepreneurs often have the faith to pursue different paths despite the opinions of others. If the opinions of others matter a lot to you, subtract one. If not, add one.
  10. Being tired of a daily routine often precipitates an entrepreneur's decision to start an enterprise. If changing your daily routine would be an important motivation for starting your own enterprise, add two. If not, subtract two.
  11. Yes, you really enjoy work. But are you willing to work overnight? If yes, add two. If no, subtract two.
  12. If you are willing to work as long as it takes with little or no sleep to finish a job, add four more.
  13. Entrepreneurs generally enjoy their type of work so much they move from one project to another—non-stop. When you complete a project successfully, do you immediately start another? If yes, add two. If no, subtract two.
  14. Successful entrepreneurs are willing to use their savings to finance a project. If you are willing to commit your savings to start a business, add two. If not, subtract two.
  15. Would you be willing to borrow from others? Then add two more. If not, subtract two.
  16. If your business should fail, would you immediately start working on another? If yes, add four. If no, subtract four.
  17. Or, if you would immediately start looking for a job with a regular paycheck, subtract one more.
  18. Do you believe being an entrepreneur is risky? If yes, subtract two. If no, add two.
  19. Many entrepreneurs put their long-term and short-term goals in writing. If you do, add one. If you don't, subtract one.
  20. Handling cash flow can be critical to entrepreneurial success. Do you believe you have the ability to deal with cash flow in a professional manner? If so, add two. If not, subtract two.
  21. Entrepreneurial personalities seems to be easily bored. If you are easily bored, add two. If not, subtract two.
  22. Optimism can fuel the drive to press for success in uncharted waters. If you're an optimist, add two. Pessimist, subtract two.

What's your E.Q. (Entrepreneurial Quotient)?

If you scored +35 or more, you have everything going for you. You ought to achieve spectacular entrepreneurial success (barring acts of God or other variables beyond your control).

lf you scored +15 to +34, your background, skills and talents give you excellent chances for success in your own business. You should go far.

If you scored 0 to +15, you have a head start of ability and/or experience in running a business and ought to be successful in opening an enterprise of your own if you apply yourself and learn the necessary skills to make it happen.

If you scores 0 to -15, you might be able to make a go of it if you ventured on your own, but you would have to work extra hard to compensate for a lack of built-in advantages and skills that give others a leg up in beginning their own business.

If you scored -15 to -43, your talents probably lie elsewhere. You ought to consider whether building your own business is what you really want to do, because you may find yourself swimming against the tide if you make the attempt. Another work arrangement—working for a company or for someone else, or developing a career in a profession or an area of technical expertise—may be far more congenial to you and allow you to enjoy a lifestyle appropriate to your abilities and interests.


The Entrepreneur's Prayer

As I awaken with the gift of yet another day and prepare for the tasks at hand, I offer up this most ardent prayer:

I pray for continued clarity of purpose so that I may hold my vision steady and keep my focus on the needs and success of others, which in turn shall bring me my success.

I pray for the wisdom to expect abundance in my life, that it surrounds me and is available for the taking and to be shameless and unapologetic upon its receipt, for I deserve abundance.

I pray for a cheerful countenance, be it clear or cloudy skies and that I may radiate and infect others with my positive attitude.

I pray for the trust of others that they may recognize my sincerity and true intentions so that we may move forward together.

I pray for the strength to fend off adversity and use my desire and determination as both weapon and shield.

I pray for the courage to carry forth my convictions during the battle of business and to resist temptation to a quicker monetary result when such temptation compromises these things for which I stand.

I pray that I may be used as a lightning rod to collect the amazing ideas already present in the universe and when blessed with such inspiration, that I may be able to apply my talents and abilities to turn the power of thought into measurable advancement of my goals.

I pray to retain my childhood wonder so that I can recognize and revel in the small miracles of each day that others may miss.

I pray for an infinite supply of self-confidence for it alone fortifies faith, strengthens my resolve and conquers the largest enemy I will ever face - fear.

I pray for a compassionate spirit and the patience to offer those who seek my advice and my help, my full and undivided attention.

I pray for good health and a feeling of well being, and the continued desire to improve those areas of my physical life I may be neglecting in the name of my spiritual and entrepreneurial advancement.

I pray that today is a day of excellence and at its conclusion I can acknowledge and be grateful for the forward motion I have made and the growth I have experienced.

I pray most of all for the understanding and support of those closest to my heart, my family, that they will equate what may seem like endless hours of apparent pre-occupation with affairs of business to what is at the very core of my being, that which drives me, for once I achieve what I have set out in its fullest, I will become that more complete being I strive to be.

It is for these things that I pray, for I am an entrepreneur.

(you can download an mp3 of The Entrepreneur's Prayer here)

© Rick Beneteau

The Bootstraper's Bible - By Seth Godin

The Bootstraper's Bible
by: By Seth Godin

What’s a Bootstrapper?

Internet Pioneer and author of Permission Marketing, The Idea Virus, Purple Cow and other classics of the Internet Revolution, Seth Godin says...

"For me, a bootstrapper isn't a particular demographic or even a certain financial situation. Instead, it's a state of mind. Bootstrappers run billion-dollar companies, nonprofit organizations, and start-ups in their basements. A bootstrapper is determined to build a business that pays for itself every day. In many ways, it's easiest to define a bootstrapper by what she isn't: a money-raising bureaucrat who specializes in using other people's money to take big risks in growing a business. Not that there's anything wrong with that…

You can use the information in this manifesto to make any company more focused, more efficient, and more grassroots. Throughout this manifesto, though, I'll be primarily addressing the classic bootstrapper: entrepreneurs who are working their butts off to start a great business from scratch with no (or almost no) money.

At last count, there were several million bootstrappers in this country, with another few million wannabes, just waiting for the opportunity. My goal is to give you enough insight and confidence that you'll get off the bench and make it happen."


Think and Grow Rich - by Napoleon Hill

Think & Grow Rich
by: Napoleon Hill

The original 1937 version of the famous classic Think and Grow Rich

Download Link 1
Download Link 2

Chapter One


TRULY, "thoughts are things," and powerful things at that, when they are mixed with definiteness of purpose, persistence, and a BURNING DESIRE for their translation into riches, or other material objects.

A little more than thirty years ago, Edwin C. Barnes discovered how true it is that men really do THINK AND GROW RICH. His discovery did not come about at one sitting. It came little by little, beginning with a BURNING DESIRE to become a business associate of the great Edison.

One of the chief characteristics of Barnes' Desire was that it was definite. He wanted to work with Edison, not for him. Observe, carefully, the description of how he went about translating his DESIRE into reality, and you will have a better understanding of the thirteen principles which lead to riches.

When this DESIRE, or impulse of thought, first flashed into his mind he was in no position to act upon it. Two difficulties stood in his way. He did not know Mr. Edison, and he did not have enough money to pay his railroad fare to Orange, New Jersey.

These difficulties were sufficient to have discouraged the majority of men from making any attempt to carry out the desire. But his was no ordinary desire! He was so determined to find a way to carry out his desire that he finally decided to travel by "blind baggage," rather than be defeated. (To the uninitiated, this means that he went to East Orange on a freight train).

He presented himself at Mr. Edison's laboratory, and announced he had come to go into business with the inventor. In speaking of the first meeting between Barnes and Edison, years later, Mr. Edison said, "He stood there before me, looking like an ordinary tramp, but there was something in the expression of his face which conveyed the impression that he was determined to get what he had come after. I had learned, from years of experience with men, that when a man really DESIRES a thing so deeply that he is willing to stake his entire future on a single turn of the wheel in order to get it, he is sure to win. I gave him the opportunity he asked for, because I saw he had made up his mind to stand by until he succeeded. Subsequent events proved that no mistake was made."

Just what young Barnes said to Mr. Edison on that occasion was far less important than that which he thought. Edison, himself, said so! It could not have been the young man's appearance which got him his start in the Edison office, for that was definitely against him. It was what he THOUGHT that counted.

If the significance of this statement could be conveyed to every person who reads it, there would be no need for the remainder of this book.

Barnes did not get his partnership with Edison on his first interview. He did get a chance to work in the Edison offices, at a very nominal wage, doing work that was unimportant to Edison, but most important to Barnes, because it gave him an opportunity to display his "merchandise" where his intended "partner" could see it.

Months went by. Apparently nothing happened to bring the coveted goal which Barnes had set up in his mind as his DEFINITE MAJOR PURPOSE. But something important was happening in Barnes' mind. He was constantly intensifying his DESIRE to become the business associate of Edison.

Psychologists have correctly said that "when one is truly ready for a thing, it puts in its appearance."

Barnes was ready for a business association with Edison, moreover, he was DETERMINED TO REMAIN READY UNTIL HE GOT THAT WHICH HE WAS SEEKING.

He did not say to himself, "Ah well, what's the use? I guess I'll change my mind and try for a salesman's job." But, he did say, "I came here to go into business with Edison, and I'll accomplish this end if it takes the remainder of my life." He meant it! What a different story men would have to tell if only they would adopt a DEFINITE PURPOSE, and stand by that purpose until it had time to become an all-consuming obsession!

Maybe young Barnes did not know it at the time, but his bulldog determination, his persistence in standing back of a single DESIRE, was destined to mow down all opposition, and bring him the opportunity he was seeking.

When the opportunity came, it appeared in a different form, and from a different direction than Barnes had expected. That is one of the tricks of opportunity. It has a sly habit of slipping in by the back door, and often it comes disguised in the form of misfortune, or temporary defeat. Perhaps this is why so many fail to recognize opportunity.

Mr. Edison had just perfected a new office device, known at that time, as the Edison Dictating Machine (now the Ediphone). His salesmen were not enthusiastic over the machine. They did not believe it could be sold without great effort. Barnes saw his opportunity. It had crawled in quietly, hidden in a queer looking machine which interested no one but Barnes and the inventor. Barnes knew he could sell the Edison Dictating Machine. He suggested this to Edison, and promptly got his chance. He did sell the machine. In fact, he sold it so successfully that Edison gave him a contract to distribute and market it all over the nation. Out of that business association grew the slogan, "Made by Edison and installed by Barnes."

The business alliance has been in operation for more than thirty years. Out of it Barnes has made himself rich in money, but he has done something infinitely greater, he has proved that one really may "Think and Grow Rich."

How much actual cash that original DESIRE of Barnes' has been worth to him, I have no way of knowing. Perhaps it has brought him two or three million dollars, but the amount, whatever it is, becomes insignificant when compared with the greater asset he acquired in the form of definite knowledge that an intangible impulse of thought can be transmuted into its physical counterpart by the application of known principles.

Barnes literally thought himself into a partnership with the great Edison! He thought himself into a fortune. He had nothing to start with, except the capacity to KNOW WHAT HE WANTED, AND THE DETERMINATION TO STAND BY THAT DESIRE UNTIL HE REALIZED IT.

He had no money to begin with. He had but little education. He had no influence. But he did have initiative, faith, and the will to win. With these intangible forces he made himself number one man with the greatest inventor who ever lived....

The Small Business Bible

The Small Business Bible: Everything You Need To Know To Succeed In Your Small Business

Whether youre a novice entrepreneur or a seasoned pro, The Small Business Bible is a comprehensive, easy-to-read, A-to-Z library of everything you might need to know. Not only does it teach new entrepreneurs what works and what doesnt giving them scores of tips, hints, insider information, and secrets of success its also a reliable, valuable, and insightful resource for established business owners who want to help their businesses continue to grow and succeed. The book covers all aspects of small business operations and strategies, and includes straightforward information on almost every topic. Plus, youll find secrets of great entrepreneurs, a wealth of online resources, real-life success stories, and cutting-edge strategies that work.


LoadXtreme: SMS Commands

PLX REG {Retailer's ID#} {SAC} {birthdate: mm-dd-yyyy} {Full name}

Use this command to register as retailer via SMS.
ID num, MAC - check your kit for these numbers
Bdate - your birthdate, valid format is mm-dd-yyyy
Fullname - your complete name.

PLX REG 5512345678 1412345678 01-02-1970 JUAN DE LA CRUZ

PLX IREG {ID#} / {PIK} / {Cellnumber} / {Full name}/ {Birthdate} / {Address}

Use this command to register an instant retailer.
ID#, PIK - Your Account ID and PIK
Cellnumber - Cellnumber of the new Retailer, valid format is 09xxxxxxxxx.
Full name - Complete name of new Retailer.
Birthdate - birthdate of new Retailer, valid format is mm-dd-yyyy
Address - Optional, address of new Retailer.

PLX IREG 5512345678/123456/Juan dela Cruz/ 01-02-1970/12 Sampaloc, Manila

PLX CHGADDR {Your ID No.} {PIK} {Complete Address}
This command is required as step two of registration but can be used anytime to update your Address.
PLX CHGADDR 5512345678 123456 M #12 LEGARDA ST., MANILA

PLX CHGPIK {Your ID No.} {PIK} {new PIK}
Use this command to change your PIK. Please keep your PIK in a safe place and pick a non-repeatitive digits. The recommended length for PIK is 6 digits. You cannot go beyond 6 digits.
PLX CHGPIK 5512345678 123456 654321

PLX NEWCEL {Your ID No.} {PIK} {New Cellphone Number, format: 09xxxxxxxxx}
Use this command to change the registered cellphone number.
PLX NEWCEL 5512345678 123456 09178503818

PLX CHGBDATE {Your ID No.} {PIK} {birthdate: mm-dd-yyyy}
Use this command to change registered birthdate.
PLX CHGBDATE 5512345678 123456 01-02-1970

Use this command to renew your membership. You can only use this command 60 days before your account expiration and 30 days after your account has been expired.

PLX BAL {Your ID No.} {PIK}
Use this command to view your available balance.
PLX BAL 5512345678 123456

PLX LOAD {ID number} {PIK} {product code} {customer cell #}
Use this command to sell or dispense products, these are PIN based, Internet and OTA type products.
PLX LOAD 5512345678 123456 G100 09178503818

PLX LBCFLEX {ID number} / {PIK} / {product code} / {customer cell #} / {Name} / {Address} / {Msg}
Use this command to sell or dispense LBC Flower Express products.
PLX LBCFLEX 5512345678/123456/ROSERED3/09178503818/Juan/12 Sampaloc Manila/I LUV U

PLX TRANSFER {ID number} {PIK} {PLOAD} {amount} {Retailer ID#} {notification cell#}
Use this command to transfer Portal Loads to another retailer.
PLX TRANSFER 5412345678 123456 PLOAD 1000 5512345678 09178503818

PLX RESEND {id number} {PIK} {prod code} {serial number}
Use this command to resend previously sent PIN to customers. This is useful for accidental erasures by customers.
PLX RESEND 5512345678 123456 G100 12345678

PLX INSURE {ID number} {PIK} {product code} {customer cell #} {bdate: mm-dd-yyyy} {fullname}
Use this command to selli insurance products.
PLX INSURE 5512345678 123456 PREMIUM 09178583818 01-02-1970 JUAN DE LA CRUZ

PLX RELOAD {ID number} {PIK} {amount} {Bank Branch} {Date and Time}
Use this command to notify head office of your payment for PLX loads replenishment. Your account shall be replenished within 1-2 office hours upon verification of your payment.
PLX RELOAD 5512345678 123456 5000 EPCI AURORA-ANNAPOLIS 02-26-2006 11:03AM

Send to the following PLX SMS Numbers:
If your cellnumber ends with an ODD digit,
send to 09178503298 (Globe) or 09209617606 (Smart)
If your cellnumber ends with an EVEN digit,
send to 09063114036 (Globe) or 09196871672 (Smart)

Note: Please do not include the left "{" and right "}" brackets

LoadXtreme: Frequently Asked Questions

Registration and Subscription Program FAQ:

Do I still need to purchase a new LoadXtreme Kit in case my SIM card or phone gets lost?

No. In case you bought a new SIM Card to replace your lost or stolen SIM, just register your new number by changing the mobile number assigned to your LoadXtreme Subscription Program using the PLX NEWCEL command. Please refer to SMS commands section of the online FAQs.
I used a different mobile phone when I registered for LoadXtreme Subscription Program, can I still re-register my own phone for my LoadXtreme Subscription Program?
Yes, you can. Just register your number by changing the mobile number assigned to your LoadXtreme Subscription Program using the PLX NEWCEL command. Please refer to SMS commands section of the online FAQs.
Is my Subscription Program fully transferable or inheritable?
No, your Retailership with LoadXtreme program is not transferable or inheritable.
Can I have multiple Subscription Programs under my name?
We do not allow buying of multiple Subscription Programs. LoadXtreme Subscription Program does not give additional privileges or incentives, nor does it provide special preferences to members who willfully buy multiple Subscription Programs.
What is PIK?
PIK is your numeric LoadXtreme Personal Identification Key. PIK is used for your Subscription Program account security. Please memorize your PIK or put it in a secure place. Do not divulge your PIK to anyone! We also suggest that you change your PIK on a regular basis. Maximum allowable digits for the PIK are six (6). When changing your PIK (PLX CHGPIK), you must not include spaces.
Where do I get my PIK?
Your PIK shall be provided to you by the LoadXtreme SMS registration system during your Subscription Program registration process.
I forgot my PIK. How do I retrieve it?
You need to call the LoadXtreme Customer Service department. Your PIK shall be sent to the mobile number registered in our system. Please note that a service charge may be applied to this type of request.
Can I change my PIK?
Yes, you may, and we encourage you to do so from time to time to ensure that your PIK’s confidentiality is not compromised. Please refer to Changing your PIK section of the LoadXtreme Subscription Program Guide.
Can I use other mobile phones to request changes in my account information?
Yes. But for security purposes, we suggest that you avoid doing so.


What are PLX Loads?

PLX Loads are PORTAL Loads your pre-purchased from your Dealers or from Portal head office. You can use your PLX Loads to ‘retail’ all listed prepaid products. Once you retail/sell products, the corresponding WSR (wholesale rate) amount of the products will be deducted from your PLX Load credit.
How do I dispense brand-specific prepaid loads to my customers?
You can dispense brand-specific loads to your customers using the PLX LOAD command. Please refer to SMS commands section of the online FAQs.
I received a successful loading notification from the system but my customer did not receive the Prepaid Product (PIN-Based, OTA, Insurance). What should I do?
These problems may be caused by telco congestion. Do not send another set of PLX LOAD command. By sending a PLX RESEND command to the system, you may be able to resend the PIN based products to your customer. Please refer to SMS commands section of the online FAQs. If your PLX RESEND command doesn’t work, please notify our Customer Service immediately.
My customer received an error when loading the PIN I dispensed, what should I do?
Check the format of your PLX LOAD command first. You can refer to the LoadXtreme Product and Loading Guide included in your Retailer Kit. If you’re sure that the format you are sending and that the PIN you are using is correct, call the Customer Service Hotline of your Service Provider (included in the Product Guide) and ask for help. Usual errors received during PIN loading are problems related to their own system. However, if their customer service assistants advised you that the load PIN you received are invalid or already used by another subscriber, you can notify LoadXtreme Customer Service to assist you. Here are some steps that must be taken first before calling any customer support:
  1. Please check the balance of your customer. The PIN may have been loaded already.
  2. Make sure the product requested matches the service provider.
  3. Check the manner how the PIN is being loaded.
  4. Double check the PIN forwarded by the system (There might be an error in copying).
  5. Check for possibility of the PIN being loaded by other persons other than your customers by asking the customer if they have forwarded the PIN to other users.
Loading sometimes take too long. Why does this happen?
These problems may be caused by telco congestion during peak hours, especially during holidays. Do not send another set of PLX LOAD command.
How do I replenish my PLX ‘load wallet?’
There are various ways. (1) You can ask from your Dealer to replenish your account. (2) You can transfer payment to Portal Innovations via EPCIB Bills Payment Facility. (3) You can deposit payment to Portal Innovations via EPCIB and RCBC. Please refer to your Retailer Manual for more information.
I have already deposited/transferred payments to Portal Innovations’ bank accounts, but I do not receive my load yet. What should I do?
Check if you have already notified Portal head office of your payment. Notification is being done by sending the necessary PLX RELOAD command to the system. Once the notification is sent, your account shall be replenished within 1-2 hours upon verification of your payment. Please refer to SMS commands section of the online FAQs for the proper command format.
What do I do if a LoadXtreme accredited establishment doesn’t recognize or accept my subscription ID card?
Call our attention immediately. Contact LoadXtreme Customer Service Hotline.

Friday, November 24, 2006

LoadXtreme: The All Access Prepaid

Portal Innovations Corporation (Portal), the only company to introduce the first wireless electronic distribution of multi-brand prepaid products and services in the market, is pleased to announce its latest innovation in prepaid products distribution and retailership.

July 29, 2004 Portal has launched LoadXtreme® as its new program in prepaid products distribution and marketing. This program also employs Portal’s unique proprietary technology called Universal Prepaid Loading System or UPLoadS™. This proven technology offers 24x7 access to multi-brand prepaid products and services nationwide utilizing automated Short Messaging Service (SMS) to receive and fulfill orders for prepaid top-up PINs.

LoadXtreme® is a simple two-tiered dealership program designed to compete with traditional retailing of prepaid cards and products putting emphasis on pricing, flexibility and convenience. LoadXtreme® also revolutionizes electronic prepaid reloading (Over-The-Air Loading) for wireless telephony by providing a unified fully-automated electronic load dispensing facility for both Smart Buddy Load and Globe AutoloadMax. Now you can retail electronic top-up loads using just a single mobile phone and even without owning retailer SIMs!

In view of this, we are offering you a chance to be our pioneering LoadXtreme® Dealer in your area and be among the first to establish a stable foothold in the constantly growing market for prepaid products.

Explore the opportunities open to you by examining the following pages and see for yourself how unique, tangible and attainable our business proposition is. Please see the following documents:

Please confirm your interest for Dealership as soon as possible. Should you need to discuss any of the details of the LoadXtreme® Program, please do not hesitate to contact Carlo at 0922-7309663. We would be delighted to hear from you!