I remember reading an interesting article in The Freeman not too long ago about the problems local universities are having with offering entrepreneurship courses. It seems that there is a general apathy or lack of interest in enrollment in earning a degree in entrepreneurship. This is a bad trend especially in light of today’s economy. We need more entrepreneurs to not only stimulate but to grow our economy. But what could be the reason for this trend?

I used to tell young people that the problem facing them wanting to become entrepreneurs boils down to being taught the ABCs. A for Are you sure? B for Better be sure! And C for Cash, where will you get it?  I remember asking my mother for five thousand pesos to put up my first business, a hot dog stand together with my best friend. It took her a long time to say yes, again because of the ABCs. The hotdog stand may not have been as successful as I wanted,  but the dreams and  lessons I learned from that experience are still being put to use now.

So based on the ABCs, young people are already given the mindset that they cannot do it. How can schools encourage young people to study and become entrepreneurs, especially in these trying times?

In a recent article, United States Association for Small Business and Entrepreneurship (USASBE) President Jeff Cornwall wrote that there are several key points needed in teaching and preparing young people for entrepreneurship. The USASBE is the leading organization for entrepreneurship education in the US. He emphasizes three critical areas in teaching:

Realism – “There is a trend in teaching entrepreneurship to interject more experiential learning.  This is a very unforgiving economy right now.  In the past, we saw countless entrepreneurs who seemed to be able to succeed in spite of themselves.  In a recession like this one, there is little room for error and not as much luck floating around.  We need to prepare our students well to hit the ground running.  The more we can build experience into what we do in our entrepreneurship programs the better.  Our students must have a high degree of competence the day they walk across the stage at graduation and become alumni.”

Ethics – “There is a growing backlash against the arrogance and gluttony of business leaders.  In preparing the business leaders who will most likely lead us out of this mess, we need to help them understand their responsibility as stewards of the resources they have been given to work within their ventures.  But, I believe that they have an even bigger responsibility.  We need them to become stewards of the free market system.  Market capitalism as we know it is under intense scrutiny due to the foibles of so many business leaders.   We have to regain the people's trust in free markets.  We must train not only competent entrepreneurs, but good entrepreneurs.”

Inspire – “If past patterns hold true, we can expect more students looking to entrepreneurship as a career path.  They look at the job market and see very little opportunity, so they turn to us to find their own way in the economy.  We will no longer have only self-motivated, highly driven aspiring entrepreneurs in our classrooms.  We will have many more who are reluctant entrepreneurs.  More than in the past we will have to inspire our students that there are opportunities and that they do have what it takes to be successful.”

I agree most especially in the last point , Inspire. The general apathy is the result of their lack of belief that they can be entrepreneurs. That is where we need to show them the possibilities. We need to inspire dreams.

Ralph dela Fuente, a customer service representative for Convergys Ortigas really hit the nail on its head with his letter to Youngblood in PDI yesterday entitled “Nursing Dreams”. Ralph graduated  BS Nursing but against pursuing it because he wants to be an entrepreneur. He writes about the pressure he gets from family and friends who view nursing as a stepping stone to riches and a green card in the United States. He faces the disappointment and lack of belief from his close circle when he discloses his entrepreneurship dreams.

He said it best , “People might say that my dreams are worthless or I’m being immature, but who doesn’t dream? Personally I think dreams are among those things that make us human. And with the kind of drive and motivation I have, nothing can stop me.” 

Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.

 For comments, suggestions or stories that you want to share, email me at stirspecialist@gmail.com ,  or visit  www.stirspecialist.blogspot.com

One of the very first lessons in business that I am still trying to master is actually quite simple. It is a lesson that my wife’s uncle Peter taught me a long time ago. Many that know me are familiar with the fact that I am passionate about cars. I used to write a motoring column for this paper back in the mid nineties called Motown; short for motortown. One of the perks was being able to get an inside peek on the local motoring industry.

I used to watch Uncle Peter sell cars in their old building by the Highway. Here was a very respected and dignified man who was president of the company, and yet he would always make it a point to get up and greet customers. He would invite them to sit at his desk, offer them tea, ask them how they were. More often than not, the customers would walk out with the keys to a new Nissan. Why? He made them feel special. He made them feel valued.

A lot of times, we are very much focused on creating value. In building brands, we are obsessed in communicating the clear tangibles, quality, price, image, etc. But we often miss out on the very end, making the consumer feel valued. It is not because we don’t try, sometimes we just are unable to sufficiently train or motivate our frontliners to understand how critical this is.

One of the best things that ever happened in the domestic travel industry was the rise of an airline that carried proudly our name. They turned the industry around by offering the consumers unbelievable fares and packages that allowed many of our countrymen a chance to travel not only more but often. But they do not always make their customers feel valued. I have often heard the statement that people would rather just pay more to be assured of better. Better? I think it boils down to the fact that they just feel better despite paying more.

The fears of recession has hit many sectors hard. A lot of companies are biting the bullet and offering even more value to their customers. But in the march to computing how to afford this value, they cut back on what they feel are non-essentials. But how much more can we slash costs or offer more value without sacrificing the viability of the business. Maybe the solution may not lie on just offering value but really finding ways of making customers feel valued.

The success of Islands Banca Cruises is a revelation for many. Many have debated that there is a cheaper way of going about island hopping and yet they ultimately book with Islands. Why? They not only feel safer but they are assured that they will enjoy and feel valued. After all, it’s about enjoyment, let them handle the details.

There are many companies that have mastered this. One of the most famous is Starbucks. People don’t just go there for coffee, they go there to feel good, to feel better, and to feel valued. Did you know that ever so often, a secret “customer” takes a snapshot of the different store partners, in order to check if they are giving “legendary service.” This “legendary service” is what makes people go and buy. They make you feel valued.

I think the solution to solving the current crisis is not as complicated as it seems. Many of us small entrepreneurs are often driven to worry trying to figure out everything that is happening. Maybe we should just let the bankers, analysts, experts debate the ways to solve the crisis. Let us worry about what we can do. Lets go back to basics and our values. There may be a limit to how much more value we can add but there is no limit to making our customers feel valued.

I would like to take time out to congratulate the management of Parkmall for providing a first for Cebu, a permanent venue for Beach Volleyball. If you have time, please do check out the ongoing Nestea Beach Volleyball going on at Parkmall in front of Pier One. Lets support one of our own.

Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.

For comments, suggestions or stories that you want to share, email me at stirspecialist@gmail.com , or visit www.stirspecialist.com

I wanted to share this story with you about the power of Faith and Attitude.

I had a friend who was down on his luck. His business had turned sour, his creditors were starting to pile up. He started drinking heavily and spending a lot of time in nightspots trying to drown away his problems. Because of his actions, employees started to lose confidence in the business. They started to look around for new employment options. Their attitude and worry also affected customers who started to shy away also.

I spoke to him about the  power of Faith and the importance of having the right Positive Attitude. He still went on his downward spiral. One time he was trying to sober up and analyze his life situation in a clearer perspective, he met his rich former classmate. They started chatting and reminiscing about old times. His classmate confided in him that he had inherited his father’s wealth and that he was looking for investment opportunities. My friend excitedly grabbed the opportunity to start talking to his friend about his business.

He started to passionately explain the tremendous potential of his business. He spoke excitedly that with new funding, the business could generate so much. His friend listened attentively, and started to nod his head in agreement. They struck a deal. If my friend could present a clear business plan, he would come in and fund it 100% for a 50% share in the profit.

My friend became very optimistic. He felt positive that he could not only revive his business, but once again turn it into one of the leaders in its field. He started meetings with his key employees, motivating and focusing them for the task ahead. He initiated negotiations with his creditors and suppliers, and was able to get concessions from them that would allow the business to resume normalcy. He called on key customers offering them better deals, in order to get momentum going again.

My friend became very busy. He threw all of his energy into righting his business so that he could write a nice business plan to show his friend how much potential the business had. Time flew by very fast, his business had not only recovered but had caught the right timing.  He was able to ride a boom in the demand of his products.

A year later, he had not only recovered but had grown his business to triple its size. He started to reflect on what happened. He remembered his friend. He had become so busy that he had forgotten to write the business plan that would allow his friend to invest. He realized that his friend’s faith in him and his faith that his friend would be there to invest had given him a whole new positive  attitude to the business. By banking on that faith, He became positive about the whole situation and did something about it.

He started to look for his friend. He prepared a handsome sum as a thank you for his friend. But he could not find him. He no longer lived in their family’s big house. He did not seem to hold office in the same place. Confused he searched out more old classmates and asked them for his friend’s whereabouts.

When his classmates would ask why, he told them about the story of his friend’s offer to invest and how it had helped him get back on his feet. They would shake their heads and say no more. Until one old classmate finally broke the news to him, his friend had committed suicide.

It seems that his friend did not inherit any  wealth. In fact, his friend’s father had lost all of their family wealth gambling. His friend had become an alcoholic and was mired in disbelief and depression. His friend had taken his own life almost a year ago.

My friend was stunned. He searched me out and started to talk to me about the power of faith and attitude and how it had done wonders for him and his business. I agreed but I asked him. “Was his Faith true?” He looked at me quizzically and did not understand. I pointed out that his faith was premised on a lie. His friend did not have the money to invest and had no faith in him or himself.

Faith is important, Attitude is critical. But what is it really that we have faith in? We need to be sure that our Faith is true and not a lie.  1 Corinthians 2:5 “So that your faith would not rest on the wisdom of men, but on the power of God.” Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.

For comments, suggestions or stories that you want to share, email me at stirspecialist@gmail.com ,  or visit  www.stirspecialist.com

 

It always baffles me how people in our country can get an inflated sense of worth, due to the position that they occupy. We sometimes lose track of the fact that it is temporary situation or that we start believing that we are ourselves are the reason for the position.

Former British Prime Minister Tony Blair recently flew into Manila for a series of talks. He charmed a lot of people with his personality and made many converts with his humility, wit and intelligence.

He spoke about how life is full of twists and surprises. When he was younger he wanted to be a rock musician. He practiced and played in a band until a good friend told him, “You’re a great singer, except there’s only one problem.” Brief pause. “You can’t sing!” But never in his young life , did he imagine that he would become Great Britain’s top leader. “If someone had told me that one day I’d be prime minister, I would have laughed, and my friends would have been worried”.

Tony Blair was peppered with questions on politics, leadership, and retirement. He spoke about leaders being, “ordinary men thrust into extraordinary situations.” A school of thought commonly attributed to Winston Churchill and revived by former New York Mayor Rudy Gulliani.

When he was asked the question on motives for entering politics, he replied, “Public Service”, he then continued, “Politics really matters, actually,” . He started talking about the good and the need for public service. But he hit the nail on the head, when he proclaimed that politics, “is a noble profession, not always nobly pursued.” Standing Ovation!

He also spoke on how much easier it is to be in the opposition. He told the audience though it was better to be in the administration, in the opposition, “is it’s what you say that matters, not what you do.” Bingo!

On knowing to move on, Mr. Blair said, “And leaders, no matter how long they are in the position, will always “have their day” and should find it in themselves to relinquish power.

Mr. Blair spoke humorously about the stark difference when he was no longer Prime Minister. He recounted that on his first day as a private citizen, he bought a new cell phone and texted a good friend. He was surprised to read the reply, “who are you?”. Mr. Blair forgot to write down his name in the text.  He reflected humorously that in less than 24 hours, he had gone from being one of the most powerful men in the planet to a virtual nobody.

Mr. Blair is recognized for his skill as a diplomat. The evidence of this was that he was able to charm and seamlessly get away with wearing the Ateneo Blue Eagle Jacket in his visit and talk there; and charm his hosts in Lasalle by donning the green jacket. He even threw in the “adobo” joke.

Tony Blair made Great Britain cool again. He made Britannia matter especially to young people.  This is in stark contrast to the image that the United States projected in the last few years of the Bush administration. President Barrack Obama is showing the same skills and a lot of heart in managing his difficult situation. But he has also shown that the right leadership who has the correct reasons for serving can and will make a difference.

The Philippine elections are around the corner. Many of our people have lost faith in our leaders and expressed cynicism on the state of Philippine democracy and the electoral process. Many have expressed doubt that there may be an election. But let us not lose hope. We must try. We must search for the right leadership. Then we must try to do everything to make sure that he or she makes it. It is in our hands. Tony Blair said,“What is forgivable is to fail, what is unforgivable is not to try.”

 

Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.

 For comments, suggestions or stories that you want to share, email me at stirspecialist@gmail.com ,  or visit  www.stirspecialist.com

A couple of days ago , we had our first annual business review of Crocs. Concept store partners and distributors from all over Visayas and Mindanao, as well as principals from Manila, came to Cebu for the meeting which was held at the new Alpa City Suites in Subangdaku, which incidentally is a must try.

Later that night, we had dinner at the recently opened Out Of Africa Restaurant in Nivel Hills. A few columns back, I wrote about the need to master Engage, Delight , and Convert. When I was asked where should we eat, I suggested something new and exciting, and we were not disappointed.

What makes Out Of Africa stand out is the attitude and personality of the general manager, South African Mike Halgreen. He is a fascinating person to know, stumbling upon Cebu a couple of months ago, then planting roots and opening not only this restaurant, but launching a ambitious plan to open 40 more franchised outlets.

He is a man’s man, Crocodile Dundee in the flesh. He greeted us with excitement, welcoming us with drinks and stories. He built up excitement to try the many exotic dishes that were the specialties of the house.

We tried out South African bread which is a must try. We also ordered the pumpkin soup, Mozambique Trinchado, and Cream Dory Fillets. I can’t recall the rest but they were all very good. Mike gave us the full treatment, describing the menu and the food as it arrived. On one dish, a combination of four kinds of kebab skewered on a metal rod, it was set on fire in front of us. When one of my companions observed the need for music to complete the spectacle, Mike suddenly erupted in an African tribal chant, complete with wild swinging arm motions.

After dinner, he again presided over all of us, regaling us with his personality and stories. He taught us what Jagermeister is for and how it should be taken. He then whipped up a round for all of us, making sure that we follow tradition and blow off the dust from our elbows before drinking. Then again, Mike might have been pulling our leg with the elbow thing, who knows.

What Mike has mastered is the principles of Engage, Delight, and Convert. In surviving and prospering in this financial uncertainty, we need to go back to the fundamentals. Mike is showing that it doesn’t take a lot of money, or brilliant architecture, or expensive consultants to achieve EDC. All it takes is an honest and sincere effort to satisfy the consumer.

Engage – Capture the attention.


Delight – Evoke joy and a sense of discovery.

Convert – Harvest reward thru purchase.

The only disappointment for the men and to the joy of the ladies was the unavailability of Crocodile steak. It is a specialty of the house, according to Mike, as he explained the right way to store and cook the Croc. Which led us to propose that we open our first restaurant retail door. We offered to put up a retail stand for Crocs in the restaurant so that Mike can add a bit of spice to his Croc story, “we serve them and you can also walk on them.” Or something like that, huh Mike?

Cheers Mate, Thanks for making our night.

Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.

 For comments, suggestions or stories that you want to share, email me at stirspecialist@gmail.com ,  or

visit  www.stirspecialist.blogspot.com