To start a business or any economic endeavor, you need capital. Some entrepreneurs start with little capital, others with millions of pesos. Ricky Reyes started with his savings of P1,000. Jovel Cipriano started with over P10,000. The need for capital varies, but the fact remains that capital is needed.

Saving is about discipline. It entails awareness of income and expenses. It’s about being money-smart and paying yourself first. There’s a need to stick to the budget and not spend more than what is disposable. The discipline in savings is part of the discipline in doing business.

 

In this article, we are supposed to discuss why so many Filipinos are poor. Our interest was pricked by the assertions that "majority of Pinoys have the habit of thinking poor" and that “negosyo, ang sagot sa kahirapan.” 

We've discussed GoNegosyo under the Blogroll and  Internet & Tech categories. We've also discussed the book in the previous post on Succcessful and Inspiring Filipino Entrepreurs. We've just realized, however, that we forgot to include a separate entry for this book under the Books category. This is a significant oversight because this is a book that should inspire budding Pinoy Entreneurs. This is also the original book that spawned the sequel: "Go Negosyo: Joey Concepcion’s 50 Inspiring Stories of Entepreneurs (Celebrity Edition)". I haven't read the sequel and probably won't read it in the near future.

We received this email from Dennis through the Contact Us section of this site: "Hi, this is such an informative site and I do learn a lot from your articles due to its simple and easy to understand explanation.  Hope you can discuss sometime about the tax amount to be paid in business, from single prop to corp., from those earning 50k a year to those earning 1M a year."

For whatever my opinion is worth, I recommend this book for Pinoy Entrepreneurs to read -- Blue Ocean Strategy (W. Chan Kim and Renee Mauborgne, Harvard Business School Press [2005], 240 pages), with the subtitle: "How to Create Uncontested Market Space and Make the Competition Irrelevant".

In today's trip to the grocery, my wife bought a Goolai salad pack. After around 3 years since I last worked in Makati, this is the first time I again encountered Goolai (produced by Gemmarc Foods, Inc./Agri-Growers Multi-Purpose Cooperative). I hate vegetables, then and until now, but I survived two weeks of purely Goolai lunch during that time.