I have been recently giving talks to schools as well as groups of students on the concept of STEP UP (Student Entrepreneurship Provides Unlimited Possibilities). STEP UP is being formed as an organization whose sole purpose is to encourage, guide, and graduate young entrepreneurs. It is meant to provide students and young people a practical means and a nurturing environment for students and young people to learn, network, get encouraged as well as develop new ideas, concepts as well as businesses. We hope to be able to launch the organization this November and conduct our first student entrepreneur summit at the same time.

Here are two compelling reasons why we need to encourage more young entrepreneurs.

1. Young entrepreneurs add creativity, innovation, dynamism, and new blood into local economies. - There are more entrepreneurship opportunities for young people today than at any time in our Country’s history. Young people today have so much access to technology and communication, that they have literally developed a natural ability to literally “shrink the world”. They have instinctively capitalized in using these tools and finding new ways to use it much faster than traditional business can comprehend. This has allowed a lot of new business ideas to float and prosper. A lot of tech savvy young people are even finding opportunities to fill roles as “reverse mentors” or as consultants to older companies, teaching the latter how to harness the internet and technology to improve the bottom line. Encouraging and developing young entrepreneurs to take advantage of this tools and opportunity will stimulate and add jobs to local economies.

2. Young entrepreneurs will contribute to political maturity, free economy, and employment. – Whether we admit it or not, our Country’s economy has not yet developed into a real free market economy. A lot of sectors are still dominated by businesses that rely on politics, media, and poverty to exploit inequities and harvest profit. Young entrepreneurs, unlike their working employed counterparts, will develop faster a natural concern about how political leaderships are chosen, how government institutions are run, how corruption is kept in checked and a level playing field is maintained. By growing a generation of young entrepreneurs, our country will accelerate not only the pace of joining the ranks of the industrialized countries but also of becoming a real mature democracy.

We need to consistently find new ways of encouraging young people to consider entrepreneurship as a valid and realistic opportunity and a viable alternative to employment. We need to provide them tools as well as environments that they can tap in order to achieve this.

Young people owe it to themselves to find out whether or not they have the spirit, passion, creativity, and drive to become entrepreneurs. If they don’t think about it or start something while still young and students, more often than not, they no longer do when they are older and employed. It is a fact that student entrepreneurs are given more opportunities and leeway to achieve.

Think about it, if a young person succeeds, he will have added another contributing member to the business community as well as provided employment not only for himself but others. If he fails, he will have learnt valuable lessons that he can apply in life as well contributed to forming and molding his character. Lessons thathe can still apply while being employed.

William Hazlitt once said, “The more we do, the more we can do.” Let’s provide more opportunities for young people to find out how much more they can do. The possibilities can be endless, if they STEP UP.

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

When we mention the name Kawasaki, the first thing that crops into our minds is the Japanese motorcycle brand. But mention the same name in the US, a Guy Kawasaki leaps up front. Guy is a renowned author, consultant and venture capitalist. He is famous for writing and espousing innovation, as proven by his record as “software evangelist” for Apple and writing books such as The Macintosh Way, Rules for Revolutionaries, Selling the Dream and, Reality Check.

Guy recently gave a very intriguing talk entitled “The Art of Innovation” where in he lists a ten-point manifesto on making value for customers. Allow me to share it with you.

Guy Kawasaki’s Ten Commandments

1. Make meaning not money – As a venture capitalist, Guy listens to business plans and pitches every day. He observes that plans that are focused solely on making money are the most likely to fail. He says, “entrepreneurs should focus on making their product or service mean something beyond the sum of its components -- and the money may very well follow.”

2. Make a mantra and not a mission statement – Well written and comprehensive mission statements are more often than not , hard to follow and implement. They sound good but what do they really say. Instead, Guy says, “Keep it short and define yourself by what you meant to customers.”

3. Jump curves – Innovation isn’t just about trying to follow thru on what you have started. Sometimes, if a new trend or technology appears, you have to “jump curves”. An example would be a typewriter brand which believed what former IBM chairman Thomas Watson once proclaimed when he said that the total market for computers would be five.

4. In product design, roll the “DICEE” – Guy defines DICEE this way: D for Deep, thinking beyond the current use. I for Intelligence. C for Complete, making sure that the product is bundled with service and support. E for Elegance, making sure the design is beautiful. The last E for Emotive. It should have the ability to form an emotional bond with consumers.

5. Don’t worry be “Crappy” – Don’t obsess in making it perfect the first time, just launch it and improve it as you go along. Google is a perfect example of this.

6. Polarize people – Don’t try to be everything for everyone. Everyone will hate it for not being enough of something. Choose a particular niche and stick to it.

7. Let 100 flowers blossom – “Innovations may attract unexpected and unintended customers.” A popular softdrink brand started out as a reliever for upset stomachs. Launch a product and listen to feedback and as Guy says, “You will never know where the flowers may emerge.”

8. Churn baby churn – Always improve by listening to the customer.

9. Niche yourself – guy always says, “Find your place.”

10. Follow the 10-20-30 rule – Keep it simple. When presenting ideas, always limit one’s self to 10 powerpoint slide presentations, 20 minutes for the speech and using a 30 point font size to keep it simple.

I believe that there is a lot of room for innovation especially for starting entrepreneurs. We can do it! It is harder to innovate but the rewards are also so much greater. What is your own 10 point manifesto?

On another note, I would like to thank Mary Anne Solomon and the members of the Rotary Club Uptown for inviting me to participate and speak on youth entrepreneurship at the 1st Rotary web conference FAME -Foresight Beyond Now, Access to Success, Mileage to Global Competition, Empowerment with Principles, held last September 12 at the USC Law Conference Room. I was happy for the opportunity to drum up support for our STEP UP initiative. “Student Entrepreneurs Provide Unlimited Possibilities!”

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 .

I want to share a very interesting study conducted by Wharton's Jay H. Baker Retailing Initiative together with Verde and the Retail Council of Canada entitled "Discovering WOW, a study of great retail shopping experiences in North America". It was the sixth year of these groups tying up to analyze and study the state of shopper satisfaction in North America. The results are actually very revealing.

Wharton and the Verde Group, a Toronto based retail research and consulting firm, came up with the description “WOW” to define unique customer experiences that far exceeded their expectations. What was interesting was that, according to Wharton research, 35% of customers have had a “WOW” experience in past couple of months of the study. This may be attributed to a major shift of retailers to provide more value and better customer experiences in order to get retain or increase market share amid the recession.

According to the study, there are five major areas that contribute to the “WOW” effect.

1. Engagement: being polite, genuinely caring and interested in helping, acknowledging and listening.

2. Executional excellence: patiently explaining and advising, checking stock, helping to find products, having product knowledge and providing unexpected product quality.

3. Brand Experience: exciting store design and atmosphere, consistently great product quality, making customers feel they're special and that they always get a deal.

4. Expediting: being sensitive to customers' time on long check-out lines, being proactive in helping speed the shopping process.

5. Problem Recovery: helping resolve and compensate for problems, upgrading quality and ensuring complete satisfaction.

Another interesting result of the study was the high percentages garnered by customer interaction with employees. 63% mentioned the highly enjoyable experience provided by very polite and courteous employees and another 55% who were please by the fact that employees were highly knowledgeable and helpful.

Other significant analysis of the results show that majority of customers brand experience are shaped by store design and atmosphere, consistently great product quality, making customers feel they're special and the sense that customers always get a deal.

Paula Courtney, Chief Executive of the Verde Group, also talks about the ability of retailers to resolve a problem is a key contributor to shopping experience. The ability or inability of frontline staff to immediately deal with the customer’s complaint will often shape the latter’s feelings toward the brand. The solution, according to Paula, is problem empowerment. Empowering employees to solve basic problems as well as giving them ownership of simple solutions will allow them to immediately assuage customers.

I think the survey shows that, even in a down economy, it is possible to improve significantly shopping experience without expensive new investments. Just a simple attitude readjustment as well providing motivation and empowering our staff will greatly contribute to generating a “WOW” effect.

Paula concludes by saying, “even in a challenging economic environment, retailers are able to deliver a wow experience if they plan to provide the basic elements of a great shopping experience. "Despite shortages of resources and store closings, it is still possible to delight and surprise"

I want to time out to congratulate the senior management, officers and staff of Qualfon Philippines led by their CEO, Mr. Alfonso Gonzalez, Joslyn Canon, HR and Admin Manager, Cris Pascua, Senior IT Manager, Deo Abello, IT Manager, Alfie Torres, Operations Manager, Hannah Tse, Quality Coordinator, Charlz Luther Manuel, Training and Nesting Supervisor, Marie Natalie Mamites, Kethrin Labrague, Michelle Aquino, Ryan Ignacio, John Llesol, Faye Mutia, Levi Junio, and Aileen Caña, Shift Managers on the grand opening of their new facility yesterday.

It seems like only yesterday when Qualfon Philippines set up operations with just 150 employees. Now 3 years later, the company now employs 1500 people and is slated to expand and swell this number to 2500 at the end of the year. Qualfon’s opening its only BPO facility in Asia in Cebu is a fantastic boon for Cebu. Thank you for believing in Cebu and Congratulations.

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 .

I remember a speech that Philippine Retailers Association Cebu Chairman Jay Aldeguer once gave, wherein he talked about the increasing power of instant customer feedback. He talked about how the customer now has so much tools to give instant feedback thru blogging, Tweeter, Facebook, Forums, Chatrooms, etc.

I believe that this has both a positive and negative consequence. The positive is that it gives starting entrepreneurs and new retailers an amazing opportunity to get recognized. Create a fantastic experience, sell a innovative product, provide exemplary service, and you know, somewhere , somehow, someone will write, blog , or tweet about it. Soon, more customers will read or hear about it and head your way.

The negative is that if you fail to do so or worse, you provide a bad service, an inferior product or a lousy experience, you can count on the fact that somewhere, somehow, someone will also write, blog, or tweet about it. Soon more customers will head the other way. Or worse, write, blog or tweet more people about their bad experience.

But lets assume, that we are able to do it right, we are able to provide a fantastic experience, sell an innovative product, and provide exemplary service, how do we get more customers to head our way or to become aware of what we do, especially when we are on a budget or have none.

There is a new trend right now, which measures how Word of Mouth and Digital Social Media affects brands. It is a growing trend that recognizes the increasing power of customer feedback thru word of mouth and social networking. There actually will be a conference about this on November 18 to 20, 2009 at Las Vegas. One of the goals of the conference will be to study the trend, and come up with ways on how to harness WOM (Word of Mouth) and Digital Social Media (Facebook, Twitter, Multiply. Etc.). The theme is “Creating more talkable brands…”

According to John Moore, a WOM enthusiast, in the United States alone, Americans generate 125 conversations per week that discusses products and services, and that specific brands are mentioned 90 times in these conversations, a result of these brands being “talkable”.

John goes on to describe what are the common traits of these brands:

1. Has a strong personality

2. Delivers great customer service.

3. Listens and learns from customers

4. Joins customers where customers talk

The ultimate benefit of being a talkable band is that it becomes top of mind for consumers. The lesson for the starter entrepreneur is that we can harness affordable alternatives that will allow our business to get recognized, we just have to create a talkable brand, a brand that gets people talking. Think about it. What are your ideas about creating a talkable brand?

On another note, a couple of young people have emailed me and reacted to my column, “The Power of an Idea”. I met with them and we threw around some ideas as well as combining other ideas. The end result is that they will be forming a youth entrepreneurship council composed mostly of students and young entrepreneurs that will seek to plant and grow the seeds of entrepreneurship. The group is planning to initiate a youth entrepreneurship summit this November as a debut activity.

This hopefully will be in cooperation with Childlink Learning Center led by Ms. Theresa Tio who has already been coordinating with several schools and universities. Childlink Learning Center has already taken the initiative and invited Bam Aquino, host of Start Up on ANC as well as a successful social entrepreneur, to be a primary speaker. Jay Aldeguer has also promised his support. We are inviting interested parties, students as well as other entrepreneurs to join us in making this a reality. Lets do our part in growing more young entrepreneurs.

Michael Simmons, author of The Student Success Manifesto, said "Too often we disassociate ourselves from people who achieve greatness. We forget that everything that lies within them lies within us." I always believe that a lot of great things do come from small beginnings, the secret is to believe, have Faith, and then start.

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 .

The esteemed author George Bernard Shaw once wrote very thoughtfully, “If you have an apple and I have an apple, and we exchange apples then you and I will still each have an apple. But if you have an idea and I have an idea and we exchange those ideas, then each of us will have two ideas”.

Ideas are very often a misunderstood commodity for many would be or starting entrepreneurs. There are some businessmen would don’t think much of it, preferring to imitate or mimic an existing business. There are others that swear by the power of an idea, that it is a necessary requirement in starting a business.

I find there are two schools of thought when it comes to ideas. One is that it should be safeguarded and kept secret until the time comes to launch it. The primary reason for this is to prevent “competition” from stealing the idea. The second school of thought is to share the idea, with the hope of getting real and honest feedback that will allow the idea to become bigger and better.

Many would be or starting entrepreneurs are not comfortable with option two and would prefer to follow strictly option one. They cite the examples set by successful companies that safeguard their secrets and ideas zealously and assume that they should do the same. This would make sense but for one differentiating factor, the word, “successful”. Successful Companies that safeguard their ideas do so because they have a unique understanding of their business, products, and service. But a would be or starting entrepreneur may lack the insights, experience and market knowledge to evaluate his idea solely by himself.

Hence, I always prefer option 2, sharing and talking about it. Seeking out and speaking to industry insiders, potential suppliers and customers, as well as sincere friends will allow the idea to be vetted and improved on. Soliciting honest and genuine feedback will allow new considerations, options, difficulties as well as insights to arise. It may even lead to a much better idea. Or the realization that the idea may not have been that interesting after all.

Another interesting question for many aspiring entrepreneurs is, “how does one “operationalize” an idea into a viable business?” Here are some simple questions that you can ask yourself that will help provide guidance on the viability of the business idea. Ask yourself the following key questions:

1. Is it doable? – Sometimes an idea may not be anchored on real technology available or existing market conditions. It may sound perfect but the costs, or benefit may not be realistically feasible.

2. Who will be my customer? – Many times we fall in love with an idea and immediately dive into it without considering what is the true profile of our customer. I always have to remind myself, when thinking of products or services for the youth, that I am not the customer.

3. What will they be willing to pay for my product or service? – Upon identification of the customer, it helps to know whether or not they have the desire and the ability to buy the product. It may be the best product or service but if the identified customer cannot afford it, the business will not survive.

4. Is my product or service an improvement or a totally new innovation? – Its important to identify if what one is offering is just an improvement or a totally new innovation. This will allow one to decide on how to market or price his product or service.

5. What is the barrier to entry for future competition. – And lastly, if the idea really looks good, its important to consider how difficult it is for competition to follow. If the barrier to entry is low, meaning anybody can follow or improve on what you are offering easily, the business is not sustainable. But it is also a red flag if the barrier is too high, it may be a warning that there is something that has not been computed into the equation.

There is something very special in a I.O.U. It does not mean that we need to borrow to start a business but rather I means Idea, O for Opportunity and U for Understanding. It requires a perfect synergy to be able to start a potentially successful business. Owen Laughlin said, “Money never starts an idea. It is always the idea that starts the money.” Never underestimate the power of an idea, I don’t.

I would like to thank Childlink Learning Center for inviting me to speak to their students on entrepreneurship. It is never too early to plant the seeds of entrepreneurship in the minds of our future leaders. I also would like to thank Raki Urbina of Café Laguna and Johan Young of RCTV for joining me in the entrep seminar at the University of the Philippines Lahug, part of the 20^th year celebration of the UP TAO Brotherhood and Sisterhood.

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