The Filipino Entrepreneur

Profit sharing in a business among the investors is really common sense. It is obviously the percentage of your investment versus the total amount of the capital. But even though we can go through with it without going to the standards, it is better to have it in order for us to deal in harmony with our business partners. According to the standards, if for example the total capital of a business is Php100,000 and your contribution is Php25,000, you will get the percentage of your share by dividing 25,000 to 100,000. In this case you will get 25% of the profit.

It is really common sense if you look at the standards. In case the total capital increased because other investors contributed an addiitonal capital, then your share will decrease. For example another Php50,000 was added to the initial capital, then it will become php150,000 which you have to divide 25,000 to 150,000. Your percentage of profit share will be 16.7%.

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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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Perhaps persistence is one of the traits of a successful entrepreneur. The lady in the story, Mrs. Teresa Enano Cleak, turned her remarkable persistence into success and provides opportunity for our product to be known worldwide.
While Natural Treasures is now one of the top exporters of capiz products, with perhaps the largest selection of traditional and modern items and designs, Natural Treasures was, in its early years, the proverbial phoenix, rising out of the ashes of a crumbling startup business, on the fragile wings of perseverance and possibility and against, many will say, the worst kinds of odds. Natural Treasures had originated as far back as 1986, then under a different name, when Teresa’s British spouse and his business partner had gone into exporting capiz sun catchers. At the time, Teresa, determined to make her own money, had ventured into having a small canteen business and refused to be a part of the export company.

However, when the initial sun catcher business fell into crisis, Teresa was finally brought in on a commission basis to help out with the company. When she started, the old company was millions into debt and was ridden with labor strikes. So in order to keep business going, they ceased operations in the main factory to deal with labor concerns, while at the same time opening up five new small factories and hiring new employees to work on pending purchase orders. With an iron fist, Teresa helped make several improvements in the company,such as requiring down payments on orders so that they could bankroll the business. The company also started expanding its product range, since Sun
catchers eventually waned in popularity. For this, Teresa concentrated on obtaining input from customers she met in bazaars, which eventually led her to the idea of creating functional capiz designs-namely, lampshades, small tea light candle holders, larger candle holders, and even photo frames.

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Ramon “Monching” Romano, the owner of Divisoria.Com didn’t deny the fact that his motive on setting up his business was primarily for profit. It’s only natural that the reason for setting up a business is to earn, otherwise we will just set up a charity or a non-profit organization. He has a background as a marketeer and experience as brand manager and sales and marketing manager in different companies which I think have helped him on establishing his business. Truly, his online store is helping Filipinos and OFW in other countries who wish to buy Philippine products which are not available on their location.

Divisoria.Com is one of the many online stores in the internet which the process of buying is through online transactions and using your credit card to purchase items. Then after you completed the process and payment, the items will be shipped to you where ever you are. But unlike other online stores, Divisoria.Com is created for Filipinos abroad especially to those who miss Philippine products. Most of it’s customers are those who wanted to buy products for themselves or for their love ones here in the Philippines. Aside from Filipinos, there are Foreigners who patronize Pinoy products in the online store.

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I’m sure many Filipinos know the bake shop “French Baker”. Although all the baked goodies are foreign, yet we used to patronize the products . I ‘m not sure why but I myself was attracted the first time I see that in SM Megamall. I use to shun away from expensive or to those gourmet type of food store because I was afraid of the cost. Just looking at the bakeshop, my first impression was “it might be expensive” but when I tried to enter the shop and see the prices, well it was not that expensive after all. Yes they price higher than the average bakeshops but when you see the quality of the bread and other baked goodies, you won’t think of the price anymore. Other bakeshop with the same quality are priced higher. I guess there is something the way they organize the shop, how they priced the items, improve the quality or the design of their company logo have something to do why they can attract so many customers.

Although I’ve seen the owner of French Baker in TV interview in the past years, I never thought that he was a former business professor in UP which I came to know from a blog I read. I always thought that since his name Johnlu Koa, obviously a Chinese or half-Chinese have started a business like most Chinese businessmen which didn’t did go to other kind of livelihood like employment. Maybe I’m just being narrow minded because if you will read many success stories of entrepreneurs, there are various ways how they reach their way before they become entrepreneurs. So maybe his secret, it seems, is a combination of good education, marketing know-how and a good nose for opportunities and ideas. Below is the article I got which I think might be interesting to you. So read on…. Read the rest of this entry »