Any business success stories in negros

Right, that funny coincidence. I told your developer the idea wasn't going to work before I even knew you.

That's a good example of not doing your homework coming back to slap you but not really hurting you that much. I think it's better that you tried it and learned something from it than scrapping it before you even got started. Once Bitcoin takes off here, the idea will be solid again because can you can't reverse payments and the fraud situation is much different.

Too bad you didn't continue and try a different idea. The other one was a great attempt.

 

Several of our ventures we wrote up a business plan, those all failed. Our two success stories there was absolutely no forethought put into them at all, one day we just started doing it.

Larry

 

You can have all the business plans you want , if you are multi national company or government funded , but with small enterprise there is a lot more rolling with the punches so to speak . no use setting too much in stone . the business plan needs to be a living document that can be altered and added to regularly , a fluid situation . I have found that you have to sell a piece of yourself along with your product . What I mean to say is if you can sell something that is more expensive than your competitor and get the sale , you are doing ok , this may be the confidence that you attach to your product/work that the purchaser is also investing in . Many times we have done / won jobs , and the client has said Tony you were $10,000.00 dearer than the other guys , but we want you to do it . However I could not see that theory working in the Phils , I guess what I am driving at is some certain type of personalities lend themselves to a bit more chance of success as well , which I consider to be a key ingredient if you are dealing with people. I think Larry was referring to this in an earlier post about Mike from Mikes dive shop.

Tony

 

IMO there has to be a solid plan...played out the pigs (barely broke even and a disease killed the rest after a few years), built everything and took it as a sign that the pig business was not our thing (the wife rents the stalls to folks bringing them to weight). Sugar cane has made a bit but not enough to make it an investment to support you.

There is so much involved, in my opinion, here that it does take someone to be hands on/boots on the ground. I do think there are some ways to make a profit on a venture, have a very good friend that is making bank on fish ponds and a consignment (not in Negros).

Not everyone will tell their stories, but a pretty sure some of the members are doing well based on an income in the PI.

Personally...no success stories yet, but a few ideas to try out.

Shawn

 

My advice, if at any time during the planning stage of your business, if at anytime you find yourself forcing yourself to be optimistic, or start getting that "I'm fuckin' up" feeling....

STOP right there, premonition is telling you something.

Because if you put all your hard earned money out, then you'll have to learn that "desperation is the best motivation".

 

here's one for Shawn.....

" A successful man is one who can lay a firm foundation with the bricks that others throw at him"
Sidney Greenberg

 

I think I am in the majority of those who are married to a filipina, my wife and her family have always come up with some scatterbrained ideas for businesses. Buy me a trike was a great one, my answer was "no". Lets build an internet cafe was another. My answer was "no" yet once again. I explained to my wife that it would take so long to get the money back from these investments that I would rather just give them the money so that they could ask for some more next month. I think that concepts such as return on investment are hard for most people to comprehend. Americans who worked hard their whole lives show up in the Philippines with their life savings and are amazed that they are millionaires. The money then runs through their fingers faster than tap water through a tourist in Tijuana and all of a sudden the endless supply of money is gone.

I have to admit that I have very little experience working for myself. I did try it once, but did not have enough savings at the time to manage between the periods of feast and famine. If I try it again I will have at least one years worth of operating expenses, plus current salary saved in order to allow for a proper establishment of the business.

 

Oh dear. Alarm bells are going off.

OK, just assume you can get the business up and running for 2.0 Million, after closing costs, capital costs, etc. You would have to net, after expenses, 10,000 per month as a bare minimum. This does not include your time and effort.

I calculated that using a 6% return on 2.0M investmented elsewhere. It has been easy to earn at least that these last few years, and be mindful, interest rates are not going to stay low forever.

It sounds like a nice insurance policy (the land), for your inlaws though, please do not take offense.

 

I know where Tony is looking at but not his or his wife's plans, but Tanjay seems to be spreading out some; knowing Tony and his wife a bit I know they won't go in half cocked, they'll do the research.

Shawn

 

We will be there in a week or so , so get some ice ready for that esky my American friend , Tony