Q1: Congratulations! After 25 years of waiting, the Philippine congress was able to pass the Philippine Competition Act. Who should be afraid of this? A: The Philippine Competition Act punishes entities that exhibit anti-competitive behaviours, cartel-like actions and abuses in dominant position. If your business is playing fair, there is nothing to fear. What this bill will do is to […]
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One of the key contributions of Harvard Professor Michael Porter is popularly known as the Five Forces. Simply put, it defines the five major forces that affect profitability in an industry. These five forces are bargaining power of suppliers, bargaining power of customers, competitive intensity, threat of new entrants as well as threat of substitutes. One of the many features […]
Q1: What have you observed as trends in the size and format of new retail stores and why do you think this is happening? A: The trend towards bigger stores has reversed the past 10 years. We now see the big organized chains building smaller formats, while small and medium size entrepreneurs continuing to open groceries and sari sari stores. […]
Q1: Joey Concepcion and you are the movers behind Go Negosyo. You also work together in RFM as his VP for Corplan. What are the secrets of working well together for over 20 years? These are not really secrets but I guess it is more of having shared vision and goals on what we want to achieve, both for RFM […]
A dream come true! When I was asked by the marketer of German-brand Hugo Boss if I would be open to be styled by them, I was intimidated at first because I have never been a fashion-conscious person. But my feelings turned to excitement when I learned that the stylist will be no other than my daughter, life+style+travel blogger Tricia […]
Q14: What are commonalities franchisors look for in franchisees other than having the money to franchise? Potato Corner CEO Jose Magsaysay: For new franchisees and partners, we look for a connection. Every communication is an evaluation or a test of how we connect to them. From an email to the first meeting, we probe and if there is a connection we […]
The Philippine Franchise Association (PFA) is the Philippines’ pioneer and largest franchise association. It’s officers list includes the who’s who of business with Samie Lim of BLIMS Furniture as chairman emeritus, Yvette Orbeta of Wendy’s as chairperson, Bing Limjoco of Francorp and Robert Trota of Max’s Group as vice chairmen and Franklin Go of Goldilocks as president . Its membership […]
Question 1: Is franchising a better option than starting your own business from scratch? PFA Chair Emeritus & BLIMS President Samie Lim: While it is true that starting a business creates jobs and may even open more opportunities for other businesses, the sad reality – not only in the Philippines but throughout the world – is that many start-ups end […]
Execution involves having the capabilities to get the job done. In Mansmith’s implementation workshop, we call this the 3Cs of capabilities – coordination, competency and commitment. This helps in solving company’s execution obstacles by replacing traps with tools. A most fundamental problem in execution is when people create assumptions that someone else in the company will do certain tasks and […]
A few years ago, I was one of the plenary speakers of the Philippine Center for Entrepreneurship’s Go Negosyo Youth Summit. Let me share the five highlights of my talk on “Grow from Failures” where I talked about many business failures from my early days, some of which I also wrote in my book “The WE Entrepreneur”. 1. I was 23 years […]