NU12 #3, New Attitude/Paradigm: Wealthy Thinking - Alvin Bilolo

NU12 #3, New Attitude/Paradigm: Wealthy Thinking - Alvin Bilolo

All of us wanted to be wealthy! This is one of the reasons why we dare to enrol an Entrepreneurship class. We want to build wealth that will last for several generations. We do not just want to be 'rich,' instead we want to be wealthy. According to an article that I've read, wealthy people know how to make money while rich people only have money. We want to make money in our own way. It takes a lot of time to be wealthy. I believe that as early as now we must start to be wealthy by developing and honing our minds to think 'wealthy' things.

As an accountant, I admit I usually do things within my budget. I am always thinking to move, spend, work, and even live within my budget. I tend to be a negative thinker sometimes (more often when I know that there's always a scarce of resources). Only then that I've discovered that for me to be wealthy, I must start thinking and believing in myself that I am thus a wealthy person! I must start developing a wealthy attitude! To accomplish this, I must do the following:

• Convince and believe in myself that I am a wealthy person! The more we think we are wealthy, the more we became wealthy!
• Always declare that I am wealthy! There's a power in our declarations. When we speak, something happens. The more we declare and tell others that we are wealthy, the more we became wealthy. (Of course we must be aware of those people who tend to abuse our wealthy attitude)
• Pay yourself! Whenever I receive my salary, I must pay myself first. I should treat myself in order for me to feel that I am a wealthy person. I am working not just to pay my bills and similar stuffs. I am working to be wealthier.
• Share your blessings. It's not enough that I have a wealthy thinking. Other people should also be thinking that you are a wealthy person. The more people think that you are wealthy, the wealthier you become and this will only be possible is we share our blessings to others.

Everything starts with our mind for it is our own battle ground. If we will start thinking wealthy thing today, sooner or later we will definitely be! 4 <great>

NU12 #1 - New Attitude/Paradigm - Lea Olegario

NU12 #1 – New attitude/Paradigm – Lea Olegario

Marking-up goods for profit always gives me a guilty feeling. I have never felt fully at peace when I try to sell goods to my friends and I know I marked it up. Although I think it is just right and I think everyone is expecting that anyway, I still feel a little bad about it especially when I sell to my friends.

There was one time that my contact (a relative), from whom I get my products, defined the selling price – it was already marked up. She had apportioned a profit for me but did not tell me how much as she knows how I am with marking up goods. She only told me how much I am getting after I remitted the money to her. It is only that time that I did earn something.

I took up MBA to gain a new perspective on things and in life – and these I have been getting. In business school, selling, pricing, and value of products are often discussed. With all the discussion on businesses, about creating value and adding more value to products, and how pricing plays a part in business strategies, I become more and more accepting of the fact that marking-up is normal in businesses. There is no reason to be guilty if the product you are selling has value to your customers. Profit is expected as businesses are meant to provide returns to stakeholders. Entrep class even mentions that one is able to earn much more when doing business as compared to remaining as an employee even with a big salary. I mean how can one do that if there will be no mark-up on the price right?  

Being exposed to the business world during all my MBA classes provided like a scab to an open wound I have on pricing and marking-up.  Now, I am excited with the idea of selling goods with a fair profit and can even say my offer price without a wince. 3

NU12 #7 “Puede na Yan”Culture critiqued by Marty Dagdag

NU 12 #

Topic:New Way of Thinking/ Attitude 

"Puede na Yan"Culture critiqued

by Martino Rafael T. Dagdag                                                                 

    SPEntrep S10         

In July 15, 1890, Jose Rizal wrote "La Indolencia de los Filipinos" or the Indolence of Filipinos. He cites that the humid climate and contentment of a simple life of Filipinos has lead the Spaniards to think that we are lazy. The Spanish government also abused the farmers, which was why trade went down. These were some of the reasons why Jose Rizal concluded that the Philippines has not progressed

112 years have passed and the indolence of Filipinos has evolved to a phrase we hear so often "puede na yan" or "that will do". 

The phrase "pwede na yan" is often used to satisfy oneself or a colleague on the progress or a satisfactory, minimum requirement is reached. 

Another form of the phrase is "pwede pa yan" or "that can still do". This usually refers to objects that may have problems but still work. in order to avoid replacement or maintenance costs. People say "pwede pa yan"

While "pwede na yan" and "pwede pa yan" are acceptable in achieving standard limits. It dampens brand image and product quality. Instead of aiming for the best, people are aiming to meet minimum requirements

The "pwede na yan" and "pwede pa yan" culture can be observed in small and medium enterprises in the Philippines. Attention to detail will give you hints if an establishment has this culture. Examples are ununiformed products, dirty delivery trucks, unorganized files, and temporary quick fixes to machines that become permanent- (think of how many times you see cloth or electrical tape used to cover a pipe leak.  

In production, workers only produce to satisfy production quotas, while it is satisfactory to the company, looses potential efficiency.

In quality control, a product reaching minimum limits of a standards may not be as effective as a product hitting the median standards.

In marketing, there are companies take marketing activities as costs, as a result of this, marketing efforts become unattractive and unnoticed, thus defeating its purpose.

Why am I stressing the change in this culture? I believe that we have to change our mindset, that to be the best, we have go beyond satisfactory.

The Effect of changing this culture to a premium mindset will yield better customer loyalty, better quality goods, better brand image.3