The Filipino Entrepreneur

I’ve read an interesting story in Entrepreneur magazine about a tool steel businessman who’s business was almost brought down to it’s knees due to cheating employees, Asian financial crisis back in 1997 and his spending attitude. It’s really common sense that living in frugality will really help a business manage it’s finances well, not only in business but also in our ordinary daily living as a typical worker. But not everyone have that discipline especially if your spouse is not thrifty enough even though you did your best to become frugal. The COO of the Special Steel Products, Inc., Joseph Anthony Pardo said so himself that “although the Asian financial crisis was totally unexpected, the company would not have been as hard hit if they handled their financial well.”

Another aspect that became their major problem is the employee’s dishonesty. In 1986, when some of their former employees started selling cheap steel to their clients, claiming that they were the same as Bohler. The company lost a number of clients to the copycats who offered a cheaper yet substandard alternative. They (dishonest employees) also resorted to unethical means just to sell such as cheating the customers by substituting materials, and spreading black propaganda about their company.

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Media have it’s magic, it will make something awful really nice because of good publicity. It’s really hard to become popular in the internet but in television you can attract a lot of visitors. Maybe that is a quick way for a blogger to become famous by exposing themselves thru those kinds of media and also by using magazines telling all those things that they are so and so famous about their craft.

I didn’t mean all of them are fake but there are some who are really famous like for example Abe Olandes of Yugatech. But there are some who like to show themselves as a hot shot or something which makes people curios and creates some kind of doubt to other bloggers in the blog sphere if those really are famous and if their websites receives lots of traffic and earns a lot of money.

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This Season of Lent, I’m reflecting on what happened to me in the past. How I endured those past miseries from the time I finished my college up to my last employment. I prayed that as much as possible, I can continue being self-employed for the rest of my life because I know that being employed, no matter how long you stay in the company, you will still leave it. Yes it’s true you can get another job but for the reason that the business that you were employed with is not yours, you will still have to leave it either by retrenchment, retirement or termination.

After I finished college, I was helping my mother’s business being a delivery driver and a store keeper and sometimes I’m a cook when no one is around to help. My father has his own business, a foundry, which he doesn’t want us to mess around so my mother decided to make her own. Although my father is still the bread winner, my mother started her own business because she wants to sustain her expenses. She started a hollow block machine fabrication shop, The Atlantic Machinery Hollow Block Machine fabrication in our front yard. Aside from that, a small hardware and general merchandise store. We were living in Valenzuela City that time. I’m the only one who was really helping my mother run her business even though I have a younger brother still living with us. I was a delivery driver of hollow block machine and if there were no orders a store keeper in our hardware store. I also help buy the materials for the machine fabrication and assisting and attending the workers needs.

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Again I have a newsletter from Mike Litman that I wanted to share and can inspire you. Just read below:

Dear Lito,

Put on your running your shoes, we’re going for a success
ride today and our destination is your brightest future.

Ready?

(Are they laced up?)

Hold on.

Do you realize how much of our life is on ‘autopilot’? And
not in a good way.

“Mike, what do you mean?”

Some people are upset, discouraged, frustrated, though they
keep running the same thoughts and holding the same
beliefs.

On and on and on.

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Spread The Word:

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I wanted to share with you a newsletter from Mike Litman. This is one of his ‘best of’ articles. Each article has an important ‘nugget’ or principle to share. So here it goes:

Dear Lito,

Derek Jeter is the famous shortstop on the New York Yankees.

Imagine if tomorrow they told him he had to become a pitcher,
he most likely would be average or worse, right?

Stephen Spielberg is one of the world’s greatest film
directors.

Imagine if tomorrow they told him he had to make his
living as a chef, most likely he’d be average or worse,
right?

Warren Buffett is the world’s greatest investor.

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Spread The Word:

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