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Filipinos are one of the most optimistic consumersJul 24, 2013

With the Philippines continuing to display economic resilience and on-going growth, Filipinoconsumers remain as one of the worlds most optimistic and show growing focus on saving for thefuture, according to the latest Consumer Confidence Index released by information and insightscompany, Nielsen.

The Nielsen survey of consumer confidence and spending intentions reveals that the Philippinesrecorded a three point increase with an index of 121, making it home to the worlds second mostconfident consumers. This is the highest consumer confidence index for the Philippines since thefourth quarter of 2010 when the index was reported at 120. For this quarter, the Philippines followsIndonesia which has an index of 124 in Q2 2013 (up two points on the previous quarter and amassive 30 points above the global average of 94). Thailand and Malaysia are also featured amongthe worlds most optimistic nations despite recording slight declines.The high confidence levels continue to sweep across Southeast Asian consumers compared to therest of the world, said Stuart Jamieson, managing director, Nielsen Philippines. Similar to itsneighbors in Southeast Asia, foreign investments are coming in and a growing number of consumersare entering the middle class in the Philippines, driving the positive outlook we are observing.Filipino respondents also feel the most positive about local job prospects over the next 12 months

with 77 percent saying that local job prospects are good. This makes Filipino consumers the mostoptimistic in the world on local job prospects followed by Indonesia (75 percent) and India (72percent).Filipino consumer perception of personal finances for the year ahead has remained relatively stableover the past four quarters, reflecting the general perception across Southeast Asia. Filipinos at 79percent follow Indonesians, who have the most optimistic view on their financial position with 84percent saying their personal finances were good/excellent the highest in the world for Q2 2013and 30 points above the global benchmark of 54.More than half or 51 percent of Filipino respondents indicated that spending on items wanted orneeded over the next 12 months would be good/excellent. While Filipino respondents show a greatreadiness to spend, still seven out of 10 are saving their spare cash, making them among the worlds

biggest savers. Filipinos join an all-Asian list of the top 10 savers in the world. Indonesians top thelist with 71 percent of respondents who said that they save after covering essential items. Rounding

up the list are respondents from Hong Kong (70 percent), Vietnam (68 percent), Thailand (63percent), China, Japan, Taiwan and Malaysia (61 percent) and Singapore (60 percent).Nineteen percent of Filipino respondents also said they utilize their spare cash to invest in sharesand mutual funds, at par with the global average. Compared to their Southeast Asian peers, Filipinosare behind Indonesians who are well above the global average at 33 percent, Malaysia (30 percent),India (25 percent), Singapore and Thailand (24 percent).Despite the general optimism that Filipinos are feeling they are still protecting themselves againstfuture fluctuations in the global economy and other external factors. The increase in disposal incomegives them opportunities to consider augmenting their savings and investing in mutual funds,commented Jamieson.

Aside from saving, new technology also holds strong appeal for Filipino consumers around a third ofFilipino consumers (31 percent) are spending their spare cash on new technology products along

with Thais (34 pecent), Vietnamese (32 percent), Indonesians (31 percent).

Filipinos at 83 percent are among three consumers (Vietnamese, 88 percent and Thai, 87 percent) inSoutheast Asia who have changed their spending to save on household expenses over the past year.The three key areas where consumers have made a conscious effort to reduce spending include: newclothes, out-of-home entertainment, and their gas and electricity usage.Jamieson concluded: The decision on Filipino consumers on how they will spend their cash willremain to be strongly influenced by caution as financial security continues to be a high priority.http://www.entrepreneur.com.ph/ideas-and-opportunities/article/filipinos-are-one-of-the-most-

optimistic-consumers
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Greening and eco-labeling as competitiveadvantageBy Johanna D. PobleteJun 20, 2013

Local businesses must adopt sustainability as a business strategyandperhaps aim for a green choice seal of approvalif they hope to succeed,both in the domestic and export markets, noted industry pundits and greenbusiness proponents at the Eko Fest Entrepreneurship Conference held lastTuesday, at Radisson Blu Hotel in Cebu.

The Eko fest, part of Cebu Business Month 2013, is a new platform forengaging the Cebu community, and all stakeholders involved in environmentaladvocacies, including so-called eco-entrepreneurs and eco-warriors. It isco-organized by the European Chamber of Commerce of the Philippines

(ECCP) and the Cebu Chamber of Commerce and Industry (CCCP).

Local companies are now shifting their business models to align with theglobal direction of monitoring the true cost of a product, which takes intoconsideration not just operational or production cost, but also theenvironmental and societal impact of doing business.

Business as usual is no longer an option. Sustainability performance isdirectly related to brand value. Consumers now ask: What is it made of? Howis it made? says Bonar A. Laureto, executive director for the Philippine

Business for the Environment (PBE), a non-profit organization assisting thePhilippine business community address its environmental issues and concernsvia training, sustainability reporting, and other means.

PBE is involved in the Green Purchasing Alliance Movement in partneringwith the National Ecolabelling Programme-Green Choice Philippines,administered by the Philippine Center for Environmental Protection andSustainable Development, Inc., which offers a Green Choice Seal of Approvalto various products, from detergents to laptops, thus catering to the emergentconscientious consumer.

There is a process of assessment, if you get the green choice seal, it gives youa marketing edge, says Laureto.

Eco-labeling has been practiced in the European Union since 1992, withvoluntary participation from personal products to service brands. To datethere are 1,500 European companies benefiting from the color-coded sticker,
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says Dr. Julian Vassallo, political counselor of the Delegation of the EuropeanUnion to the Philippines.

Amongst consumers, there is a high sensitivity in Europe, a high preferenceto products that are respectful of the environment, that come from sustainable

sources, notes Vassallo.

He added that Filipino export companies, which already have good designers,could tweak traditional products to increase their appeal. "Its about gettingthe style right. Its a thin line sometimes between a kitsch souvenir andsomething that somebody would like to have in his living room. Its aboutdoing a bit of research and what you think consumers are after."

The same can be said of the services industry. You now hopefully have a newinflux of European tourists; they definitely prefer a resort that is managed in a

sustainable way... It comes down to two resorts otherwise being equalaEuropean would choose the one which has an eco-friendly attitude to itsbusiness, says Vassallo.

http://www.entrepreneur.com.ph/ideas-and-opportunities/article/-greening-and-eco-labeling-as-

competitive-advantage
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How to create a business planBy Jon Ng

Jul 25, 2013

The business plan is a written description of yourfuturewhat you plan to do and how you plan to doit. It con tains your business goals, the strategies youwill use to meet them, potential problems and howyou propose to solve them, your organizationalstructure and capital required. It is a document thatwill benefit your potential investors or partners, yourcreditors, affiliates or dealers, your employees andsuppliers.

Tristan Macapanpan, a professor at the De La Salle Universitys GraduateSchool of Business, says you must draft your business plan right from themoment you recognize an opportunity to make money. Ask yourself: Is there amarket demand for the product or service youll be offering? If so, can youproduce the product or service? Will you make money out of it? ErnestoPerlas, a marketing professor at the same school, compares a business plan toan airplane flight. Like an airplane, a business venture cant take off withoutknowing its destination, he says.

THE EXECUTIVE SUMMARYOne of the most critical components of your business plan is the executivesummary. This tells the investor what you want to do, and should be no longerthan two or three pages. Ideally, it should be written last to summarize all thatyou have included in your business plan.

The summary must contain your mission statement and describe what yourbusiness will do, for whom and why, and where you want it to be in the future.It must have some detailed financial or strategic objectives of your start-upenterprise including, for instance, when you expect payback time. You shouldinclude pertinent details such as your enterprises legal form (soleproprietorship, partnership or corporation), your business activity and itsbenefits to users, your competitors, your financial prospects, and theinvestment you need and how you intend to use it.

If your business is a start-up, you should decide whether you can competesuccessfully in the market. You should also study government regulations,capital requirements, and the factors that will affect your profitability andgrowth.
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THE SALES AND MARKETING STRATEGY

At the outset, decide how you will compete in the market and nail down your

competitive advantage. Spend time pricing your product or service, becausehow you do it will decide whether you win or lose in the market.

Map out your distribution strategythe business of moving your product fromthe factory to the end user. The best way to do it is knowing how yourcompetitors distribute their productsand then deciding whether you cancome up with something better. See if you can open a shop, use direct mailand intermediaries, direct selling including networking, or go directly toretailers.

Ask yourself how youre going to promote your product or service in themarket. Know how to approach the customer and intermediaries about yourproduct or service, your means and medium of advertising, sales activity andapproach to selling, packaging, and public relations strategy.

OPERATIONS PLANYour operations plan describes how you will run your business. It should explain how yourproduct will be made, the equipment and facilities you will use to make it, and thesubcontractors you will need. If you are a start-up, investors will prefer that you buy orsubcontract much of your manufacturing needs initially. You must decide where to locate:

Do you need an office, a factory or a shop?Must you invest in parking? In dealing with suppliers, ask yourself if they give value formoney and are consistent and reliable. Finally, always develop contingency plansparticularly for manufacturing and productionin case plan A doesnt work.

HUMAN RESOURCES

You must determine the number of people to hire to keep your prospective business runningsmoothly. Know whether you will hire them directly or get them from a manpower agency.Once you have got your workers, think about motivating them to work towards your goals.

FINANCIAL FORECASTS

You need realistic financial projections covering at least five years and including thefollowing: bal ance sheet, income statement (to determine your profitability), cash flow (todetermine your ability to finance operations), and a break-even analysis (to determine

whether to continue the business or quit to cut further losses). Your income statementshould reflect net profit over sales, gross margin, net profit over investments, current ratio,


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average age of receivables, payables and inventories, and debt to equity ratio. This section ofthe business plan is so important that some start-ups hire an accountant to prepare it.MILESTONES

A lot of businesses fail because theyve grown so big, they dont know what to do anymore,Macapanpan says. To avoid failure, he suggests your business plan contain milestones, aset of objectives you should aim at and things you must do once you have reached them.

Your business may be profitable, but it will fail if you lose control or interest. You must beable to answer the following questions at the outset: When should I expand? At whatpoint should I hire professionals to run the business? When is it time to quit? When do Isell the business?

WRITE IT CAREFULLY

A business plan does not guarantee financial success, but the number and quality ofinvestors you get will depend on how well or badly you write it. Says Winston Chan, head of

restaurant operations at the Texas-based Chilis and Superbowl of China: It makes a bigdifference when theres careful business planning. And part of planning is being humbleenough to seek advice from those who have experience. Planning will let you determine

whether ther is light at the end of the tunnel.

RECIPE FOR SUCCESS

A book, The Guru Guide to Entrepreneurship, distills the wisdom of 70 of the worldsgreatest businessmen and lists the values you need for success. Among those:

Dont be afraid of failure. Ask people who have made it big, and many will admit they

started out by risking their life savings. Successful entrepreneurs have the uncanny ability toremove the risk out of the risks, persevere, and learn from their mistakes.

Sacrifice your personal life.Work and play dont go together: You must learn topostpone pleasure until you can afford it.

Take risks. Those who are afraid of losing money are not likely to make it. Successfulentrepreneurs take risks, but then work hard to ensure their chances of making it are morethan even.

Never surrender. All failures are quitters.

Have passion in your vision. Believe in your goals and stick to them. Successfulentrepreneurs are eternal optimists who find opportunity in every failure.

http://www.entrepreneur.com.ph/get-started/article/how-to-create-a-business-plan
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Take control of your inventoryBy Henry OngJul 30, 2013

Many entrepreneurs tend to overbuy inventory totake advantage of quantity discounts especially if themerchandise is imported abroad, or when theyproject their sales targets too high for a forthcomingholiday season. While this could be financiallybeneficial, the risk of loss could be greater than thepotential rewards.

Losses from overstocking happen when inventory ispurchased from the supplier on credit and you are

unable to pay on time, forcing you to borrow cash from your relatives andfriends often at high interest rates. When payment of the loan becomes due,you are pressured to raise cash by cutting your selling price to get rid of yourinventories. This cycle could go on without you noticing that you are incurringreal losses from interest costs and lower gross profits. It could then lead to aserious cash flow problem.

Every entrepreneur, regardless of size of business, needs to understand theimportance of efficient inventory management. When we say efficientmanagement, it doesnt mean that inventory must be kept low at all times;doing that could actually result in losses to your company in terms of lost salesand missed opportunities. Instead, what it means is that there should be asystem that could enable your company to balance its inventory requirements.Here are some tips on how to manage your inventory better:1. Always consider the average turnover period of your products.Some items move quickly, others move only after some time. Because different

items are bought by different buyers, not all of your merchandise would havethe same inventory turnover. You can compute your inventory turnover bydividing your cost of sales by the average inventory. The cost of sales is thecost of the products you sold during the period; the average inventory is theaverage of the beginning inventory and ending inventory.

For example, assume that your sales for the month was P500,000 and thatyour cost was about 40 percent of it, or P200,000. If the balance of your
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inventory at the start of the month was P100,000 and your inventory at theend of the month was P75,000, your average inventory would be P87,500. Tocompute for the inventory turnover, you simply divide P200,000 by P87,500,which gives you 2.29 times. This figure means that you sold more than twiceyour average inventory during the month.

2. Manage the lead-time of merchandise delivery. You can determineyour ordering day by deducting the lead-time from your turnover period. If ittakes five days for your supplier to deliver after you place your order, you cancompute the ordering day by deducting 5 days from the turnover period of 13days to give you 8 days. In this example, you can order your merchandiseevery 8th day of the average turnover period. This way, you can receive thenew purchases at a time when you expect your old inventory to be sold out.

3. Use the turnover period as a basis for 'terms'. Ideally, the paymentterms should be at least equal to or greater than your turnover period. Under

this example, you can negotiate with your supplier that you will settle your

account after 15 days. In this scenario, you need not shell out cash to purchase

the inventory. Instead, after you dispose all of your inventories in 13 days, you

can use the proceeds from your sales for some other purpose.

Different industries have different turnover periods. There are situations when

the payment term is less than the average turnover period. When you know

your inventory turnaround time, you can have a rough idea of how to

negotiate your terms so you can properly control and manage your inventory

level. If you are just starting in the business and you still dont have any idea of

your turnover period, it may be good to establish benchmarks by spending

some time researching and determining the industry average turnover period.

You can then use this as basis for your negotiations with your supplier.

4. Benchmark your actual ratio with the industry. The industry

average turnover period is also a good performance measure. If you areunderperforming against the industry standard, you may need to consider

reducing your inventory level. You can do this by eliminating slow-moving

products and obsolete items or by simply increasing your sales.

When you are familiar with the behavior of your inventory levels, you have the

advantage of managing your inventory level more efficiently. You can


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anticipate changes in product demand ahead of time and at the same time

control your costs and manage your cash flows better. Indeed, creating an

efficient inventory system is the ultimate key to business success.

http://www.entrepreneur.com.ph/get-started/article/take-control-of-your-inventory

How to set up a payroll systemBy Henry Ong

Jul 24, 2013

Payroll is the system where employers work out theiremployees salaries to make correct deductions fromtheir pay. But its not as simple as writing a checkevery two weeks. Employers must be up to date and

comply with the laws and rulings regardingemployee compensation to avoid disputes andpenalties.

HOW TO SET IT UP

Get an employer identification or registration number.You haveto register with the Bureau of Internal Revenue (BIR), the Social SecuritySystem (SSS), the Philippine Health Insurance Corp. (PHIC), and the HousingDevelopment and Mutual Fund (HDMF) to get your number.

These numbers will serve as reference and identification in the remittance andfiling of all information pertaining to the company and the employees. ForSSS, PHIC and HDMF, both employee and employer give contributions.

Adopt payroll policies. Establish payroll policies on work hours,overtime, sick and vacation leaves, and other benefits. All these must be inkeeping with Labor provisions.

Build and maintain an employee database. The law requires thatyou keep certain employee records, which can also be used for payroll

calculation. Employees are asked to fill out a record sheet containing theirname, address, gender, SSS, PHIC, and HDMF numbers, and TIN, birth date,tax status (single, head of the family, or married), and qualified dependents, ifany. Records must also be updated when an employee gets married, changeshis or her address, or has additional dependents.

Employers must report new employees to the SSS, PHIC and BIR, and help
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first time employees obtain their personal registration numbers from the BIR,PHIC, HDMF, and SSS.

As the payroll is being processed, employers should organize all records of netsalaries, deductions, and other items. File these reports at the end of each

month, and update payroll data yearly as required by law.

Decide on the payment method. Employees may be paid in cash,check, or via electronic transfer made directly to their bank account. Fewemployers choose cash because of the security risks it involves. Checks arepreferable, but employees would find it burdensome to line up at the bankevery payday to cash it or wait for several days for the check to clear.

The quickest and most secure payment method is by electronic transfer.Nevertheless, employers who choose this method need to maintain a certain

amount in deposit depending on the number of employees in their payroll.

Figure out what payroll processing involves. An efficient payrollsystem is essential to ensure that employees are paid on time and correctly.Paying on time means establishing payroll pay periods or payroll cut-offs,which can be weekly, semi-monthly, or monthly. The most common payrollcut-off is the semi-monthly payroll.

Because they are on top of the company payroll, employers must be wellinformed of the various tax laws, Labor and Employment rulings, and otherstatutory requirements; must know how to compute withholding taxes oncompensation; and how to use the contribution tables for SSS, PHIC, andHDMF.

The payroll master, for his part, must keep abreast of tax rates, contribution

schedules, overtime and holiday premiums, and the rules governing the

computations of these items. Employers are likewise required to issue pay

slips to employees with a detailed list of the payroll items and the net pay.

The employees withheld contributions must be remitted monthly to the

agencies concerned, while care must be taken that, in applicable cases, both

employee and employer portions are included in the remittance. Payment is

normally made with the banks.

For the BIR, reporting is done annually using BIR Form 1604-CF. For SSS,


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reporting is usually done monthly. For companies with few employees to

report, quarterly submission of the Contribution Collection List (SSS Form No

R3) is required. Quarterly reporting is also required for PHIC using the

Employer Quarterly Remittance Report (PHIC Form No. RF1). For HDMF,

reporting is no longer required because the payment form already lists thename of each employee.

The following are the various methods of calculating the employee payroll:

Manual Payroll

Using Microsoft Excel, an employer can prepare a payroll worksheet and input

the necessary formulae for calculation. Pay slips can also be generated using

formats and links. The manual payroll, however, may be tedious and wouldrequire more work when the time comes for the year-end annual reporting

and issuance of creditable tax certificates to employees.

Payroll Software

Payroll software programs can make the task easier and faster because they

can generate pay slips and calculate taxes and other deductions in no time.

Payroll software, however, require upgrades and getting a licensed program

can be expensive.

Outsourcing Payroll

Generally, the cost of outsourcing payroll is half of what it would if done in-

house. Payroll firms keep a stable of highly qualified payroll masters who can

do the job efficiently for their clients. They usually have all the automatic links

with the bank, the BIR and all statutory agencies. They also take care of any

new statutory obligations without having to process manual system updates,

and generate pay slips and other comprehensive reports.

Bear in mind, however, that even if somebody else is running the payroll

function for you, its still your legal responsibility as employer to apply the

companys payroll policy and maintain employee records.


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Henry Ong, CMA, RFP, is president and COO of Business Sense Inc., a

financial advisory and consulting firm that helps small and medium

businesses. Business Sense is affiliated with INPACT International Network

of Certified Public Accountants. You may reach him at

[email protected].

http://www.entrepreneur.com.ph/get-started/article/how-to-set-up-a-payroll-system

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shop

How to make siomaiBy Mishell M. MalabaguioPhotos by Tuna Lecaro-FelipeJul 31, 2013

Siomai is a very versatile dish. It can be eaten solo asa snack, or served with rice to make a full meal, soyou can sell it anytime of the day. Ingredients formaking siomai are readily available in supermarketsand public markets; some youll even find in your

own kitchen right now.

To make 150 pieces of 10-gram siomai, youneed the following ingredients:Main ingredients:

1 kg of ground lean pork 100 pieces small-sized molo or siomai wrapper

For the curing mix: 1 tsp or 3 g. phosphate 1 tbsp or 12 g. iodized salt 1/2 tsp or 2 g curing salt 1/4 cup chilled water

For the extender: 1/4 cup or 18 g TVP (textured vegetable protein) granules 1/2 tsp or 1.25 g carrageenan,
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1/2 cup of water 1/2 tbsp or 2.5 g ground black pepper 2 tbsp or 4 cloves minced garlic 3/4 cup or 96 g of shredded carrots 1/4 cup finely chopped spring onions 2 pcs medium-size eggs 1/2 cup or 1/2 bar grated cheese 2 tsp or 10 ml sesame oil 2 tsp or 6 g shrimp powder

For seasonings: 5 g. of BF (binder filler) blend

Materials needed: Bowls Ladle Measuring spoons and cups A kitchen weighing scale Serving tray Steamer Knives Gas stove

Procedure:Step 1. Once you have all the ingredients, preparethe curing mix by combining the phosphate, iodizedsalt, and curing salt. Blend. Before adding the chilledwater, make sure the phosphate is blended well withthe other two powders. Stir well until everything isdissolved, then set the mix aside. Thoroughly mix thephosphate with other ingredients to avoid lumpsfrom forming and to prevent bacteria fromproliferating.

Step 2. Prepare the extender by mixing the TVP andcarrageenan. Make sure they are blended well beforeadding to the water; this is to ensure that the TVPwould not separate from the meat once the siomai is


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cooked. Mix the extender for three minutes until it is hydrated.

Step 3. To make the seasoning, mix all the dryingredients in a bowl. Then pour the liquidingredients except the egg and BF blend. When thedry and liquid ingredients have been mixed, add theeggs and then the BF blend, which together will

serve as binders. Set the mix aside.Step 4. Prepare the meat by adding the curing mix,kneading it by repeated inward folding with yourpalm. Make sure the curing mix is evenly distributed.Knead the meat until it becomes tacky and can be

held togetherthat is, there should be no loose bits of meat. Then add theextender, also making sure it is evenly distributed while you knead the meat.Step 5. Transfer the meat to a bowl containing the seasoning. Mix until themeat absorbs the seasonings in the bowl. Then knead the meat. Get the moloor siomai wrapper and the weighing scale.

Step 6.Arrange 10 wrappers in a tray, and weigh100 g of siomai mixture. Place 2 tsp of meat in eachwrapper until nothing is left unfilled. Each wrapperwill have 10 grams of siomai.


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Step 7. To enclose, gather up the edges of thewrapper and gently pleat it so that it forms a basketshape, with the top of the filling exposed. Presslightly as you pleat each side. Or, if you dont want to

expose the filling, use a bigger wrapper. Do the sameto the remaining meat mixture.

Step 8. After wrapping the siomai, get the steamerand pour water until it is one-fourth full. Arrange thesiomai uprightly in the steamer and steam for 25minutes over simmering temperature. While waitingfor the siomai, prepare the sauce. Notice thatalthough your meat is just a kilogram, your yield is150 pieces, which has a total weight of 1.5 kg. This isbecause of the extenders you added and the weightsof the other ingredients.Step 9. Mix the following: 1 cup or 224ml soy sauce,

12 pcs or 60 g calamansi or Philippine lemon, 1 tbsp or 3.30 g white sugar, 1tsp or 1.70 g ground black pepper, and 3 tbsp or 6 cloves of fried choppedgarlic. Set aside.Step 10. After 25 minutes, take off the siomai from the steamer and arrange itin a tray or plate with the sauce.

http://www.entrepreneur.com.ph/get-started/article/how-to-make-siomai

Father and Son Businesses: A legacy of love,loyalty and prideBy Stephanie F. EsguerraJun 14, 2013
http://www.entrepreneur.com.ph/get-started/article/how-to-make-siomaihttp://www.entrepreneur.com.ph/get-started/article/how-to-make-siomaihttp://www.entrepreneur.com.ph/author/Stephanie-F-Esguerrahttp://www.entrepreneur.com.ph/author/Stephanie-F-Esguerrahttp://www.entrepreneur.com.ph/author/Stephanie-F-Esguerrahttp://www.entrepreneur.com.ph/author/Stephanie-F-Esguerrahttp://www.entrepreneur.com.ph/get-started/article/how-to-make-siomai


16/18

While the rest of us during adolescencewere captivated by popular music or the existential confusion that comes withpuberty, some kids were then playing a totally different ball game.

And not met with much enthusiasm, at that. I was puzzled and sort ofconfused because while growing up, [I wanted] to spend time with [other

people], says Albert Tyrone Ty, who was merely 14 when his father decided tobring him along to work. His father had been running a company thatdistributes tires since 1984.

During summer, when everyone was on vacation, my father would ask him toaccompany him to do inventory for tires at the warehouse, Albert explains.The training days were like scenes in the movieKarate Kid.

The legacy of businesses from father to son is not a foreign concept to usFilipinos. In fact, there are hundreds of other children just like Albert who had

to live a different childhood to ingrain an entrepreneurial ethic early on.

Just as the business was handed down to Albert, so was it passed on to hisfather, Alexander Ancheta Ty. My father-in-law introduced me to hisbusiness partner when I got married, he recalls.

Growing up, Alexander helped his parents and siblings to earn a livingthrough food services. We would sell freshlumpia and meatballs at the oldMakati Supermarket in 1972. All family members shared the work." Andhaving been exposed to such a setup, he found it was only natural to raise

Albert in the same manner.

At first, it was a very difficult adjustment, especially getting used to dealingwith family 24/7, Albert remembers. I would be distinguishing family timefrom work [because] you see each other every day.


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More than honing the businessman in Albert, it was also Alexanders way ofleading his son to establish a life of fulfillment. I told my son, For someone tosucceed in life, one should work as early as he could. Be alert and be ahead ofthe rest, because we in the family all started [learning the ropes of business]during our elementary years, and we do not regret [how] our own experiences

taught us to be independent. I told him to be street smart and to not beashamed to be called an ahente and to work low-end jobs because these are alldecent jobs.

Albert has developed a profound appreciation for his fathers deepunderstanding of how a business works. Guidance from the past opens aproper guideline on how to execute.

Though these nuggets can stand the test of time, having a younger generationto usher in a fresh perspective proved to be beneficial for the father-and-son

tandem. Its a compromise, says Albert. What worked for them during histime in the past (strategies and executional plans in dealing with operations)might not work with todays case, and vice-versa. Its up to you to tailor-fit it tomake it work for the present. Time and change is uncontrollable. We made it apoint to find our sweet spot and to make things work. Communication isalways the key. Old school with new school is never a liability, but rather, agem.[When it comes to] time management, business style and when we havemeetings with young executives, I let my son do the negotiations, sharesAlexander. I just listen to their ideas that will be acceptable. [I also trust mysons know-how and expertise when it comes to] the high-tech software thatpeople now use doing business.Though running a family business has its drawbacks, Albert and Alexanderhave learned to trust in one another to let their entrepreneurial venturesflourish. You should know your limits, work-wise and ethics-wise, Albertadvises. No matter what happens, always respect your boss.

The best thing about managing a business together? A deep sense of respect,loyalty and love that complements an efficient division of responsibilities.The comfort level and the diversification, says Albert. One would nevermean the other harm, plus, you know you have a partner or teammatewatching your back and having the same goal at the end of the day. Two headsare better than one.


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I am very proud and happy to be working with my son, says Alexander. Myson can stand alone to deal with corporate clients or institutional accounts, aswell as new dealers nationwide.

With experience and wisdom comes openness and understanding, as fathers

like Alexander will attest to. Be patient with your son, he emphasizes.Listen to them, with what they want to be after college. Dont force them towork with you if it will just be a boring job to them. As early as possible, if andever you want your sons to follow in your footsteps, make plans for the both ofyou. Have time to accommodate, listen and share new ideas if he wants tocontinue the business.

And as with joint undertakings between fathers and sons such as Alberts andAlexanders, at the end of the day, there is a profession of deep humility andfamily pride. What better way is there to be a man than facing your own

family (father), against all odds, defending your stand and making sureeverything goes well, for you, for him, for family? Albert posits. Alwaysremember that your father will always guide you towards a bright path, nomatter how gloomy it seems to you at first. And at the end of the day,especially if you think that you have learned enough, there is always room formore experience and knowledge that only your family (father) can teach.

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of-love-loyalty-and-pride
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