Armando O. Bartolome

When can entrepreneurs claim success?

 News
May 102017
 
When can entrepreneurs claim success?

Armando Bartolome Success takes time and lots of effort. All businesses involve many challenges and only a small percentage of startups survive their first year. So, how do we measure success? It’s unfortunate that some view success as merely an overflowing of material possession. Having been in the business for more than twenty years, I feel that I have become successful because I have seen how people rise up from where they have started. And looking beyond financial gratification, I feel blessed that in my own small way, I am able to continuously guide them on how to make their dreams a reality. People naturally dream of becoming successful. Some become very ambitious and it would only result to two possible situations:  The goal has been reached through patience and perseverance or Failure Dreams without action remain as such. And to expect something big to happen in our lives without doing anything is absolutely impossible. You may see yourself to be falling short in some aspect which you should find out yourself. To make someone as your basis in measuring success is not bad at all. In fact, if it can make you push yourself harder, then it’s good. But make sure that you are doing these things in a positive way. UNDERSTANDING THE ESSENCE OF SUCCESS It may be hard not to see people owning big houses, new cars and being able to travel often as unsuccessful people. In their own way, they might be. And there would be Read More …

Is power dressing necessary?

 News
May 032017
 
Is power dressing necessary?

Armando Bartolome Entrepreneurs who thrive locally may feel it's time to go to the next level — enter the global market. Going global is like starting any kind of business. It entails many things which you, as an entrepreneur should be able to identify to make your expansion easier. Not all businesses may be cut for it. Here are a few tips on how a company can find success in the international scene. Be ready to go to the next level. Study if there is a market for your product or service. Your appeal in the local scene may not be the same internationally. Do a thorough research on potential foreign markets. Make several trips to places where you plan to put up your business. It would also be wise to experience their culture and social norms. Choose a place where it is almost similar to your local environment. It may be impossible to have the perfect match, but at least choose a place where you are able to target the right people. Create a team that will focus on the expansion. It is truly difficult to work on expanding a business with only a handful of staff. And with that, you will not be able to sustain your growth internationally. You have two options: You can train new people in your home country and become part of the international team. You can hire people from where you are planning to build your business as this would cost you much Read More …

Is power dressing necessary?

 News
Apr 252017
 
Is power dressing necessary?

Armando Bartolome Power dressing can help you make a good first impression. You should always be clean and neat but not too flashy. Some people think power dressing means having to dress up in designer clothes. If you happen to see someone in designer clothes from head to toe, what would be your first impression?  Others may be in awe at how much the whole ensemble costs. But as a professional or a businessman, it may be speaking too loud that the real person is ignored. Simply put, power dressing should not be measured by the cost of the clothes, but by its ability to evoke authority, competence, and confidence. People can judge others based on their clothes. How can you trust or respect a boss who comes to work like he just came from a basketball game? Dressing appropriately invites respect. TIPS ON HOW TO DRESS FOR SUCCESS Choose formal wear especially when attending business meetings. Nothing much can go wrong when a man in business suit comes in. It spells power and authority. Women can dress themselves in more ways compared to men. But they also need to tone down their style, no deep v-necks, or too sheer blouses. Feel comfortable in what you wear. You may be tempted to wear something fashionable. But if you really are not into the kind of style, it might make you feel uneasy. It can affect your confidence, thus it can resonate inside the room. When we speak of power dressing, Read More …

11 easy steps to have an entrepreneurial mindset

 News
Apr 192017
 
11 easy steps to have an entrepreneurial mindset

Armando Bartolome What is an entrepreneurial mindset? This refers to the specific state of one's mind in creating and focusing or harnessing to the best of one’s ability successful factors related to entrepreneurship. In today’s world, what matters most is how one can develop the ability to think beyond what can be perceived. It is never too late to neither start nor revitalize. All it takes is a strong desire to change or improve. As the saying goes, “If there is a will, there is a way.” These tips are meant for the serious people who like to embrace change and success: Create your new entrepreneurial mindset. Before you can become successful, you have to create a new mindset to achieve the things you want in your life. Examine your current mindset, and how that way of thinking has gotten you to where you're at right now. Be honest with yourself when looking over your current results, because this will give you an accurate measure of the choices that you have made over the years. Only then will you begin to see for yourself that it is time for you to work on your new mindset in order to start living the life you want to experience, regardless of your current circumstances. Once your new entrepreneurial mindset is in motion, you will start making very creative choices to move you faster to your desired goals. Find three to four successful entrepreneurs that have the lifestyle that you want, and ask Read More …

Strategic ways to improve sales and profitability

 News
Mar 242017
 
Strategic ways to improve sales and profitability

Armando Bartolome A business cannot run without carefully thought out strategies. When building a company, the goal is not just to increase the company’s revenues but also to form a concrete structure built on trust and confidence. MEETING GOALS Making money is essential, but money alone cannot be enough reason for a business to exist. To be able to have sustainable financial returns, the company should never ignore the interests and aspirations of owners and stakeholders. What are the goals of every business? As an entrepreneur, your concern should be only focused on these goals: Profitability You started a business to help you earn and have a sustainable means of meeting your everyday needs. Productivity As owner, you need to be able to supply all the necessary means of enriching your employees’ knowledge to help you run the business. Employee Retention You are able to cut your cost in having to post for employment advertisements. By maintaining a positive work environment, employees are more inspired to work thus increasing their productivity. Customer Service Who else can help you sustain the business? By providing great customer service, it helps increase the company’s revenues. By keeping your customers happy and satisfied, you are able to retain them and generate repeat revenues. Maintain Financing Every company’s goal is to have enough cash flow. However, the company can't hit the jackpot all the time. The company needs to maintain a financing contact when the need for additional funds arises. Growth It requires analysis based Read More …

Saving your business through rebranding

 News
Mar 162017
 
Saving your business through rebranding

Armando Bartolome Businesses may go through difficulties, but giving up should not be an option. When thinking of ways on how to salvage a business, a company may either diversify or rebrand. Either way, that would mean additional expenses. What is rebranding? The goal of rebranding is to influence its customers’ appreciation and understanding of a product or service or the company itself by enhancing it and goes with the latest trends that are relevant to customers. Rebranding may be in the form of changing the name of the company, re-styling the logo or symbol, changing the company’s slogan, or the marketing and advertising approach. It is brought about by a number of reasons: Change in business ownership following mergers and acquisitions. Change in strategy, human resource policy, corporate identity Penetrating the global market. To meet the changing and increasing demand in the market. To get away from a negative image that lead to a decrease in popularity and affected the company’s revenue. To boost relevance. Diversification of the business. To put up a fresh look. Conflict with stakeholders. Change in products and services. Improvement of corporate identity. Questions you need to ask prior to making a change When things get tough, a business owner cannot just completely delete everything without a plan on how to start over. Here are some guide questions: What initiated the thought of rebranding? What are the existing problems that need to be resolved? Are the existing products no longeras competitive compared to others? Are Read More …

Tips on growing a second income

 News
Mar 072017
 
Tips on growing a second income

Armando Bartolome If the amount an employee earns from a 9-to- 5 job isn't enough to provide for the family, there are other ways to add to the income by engaging in a small business. According to the National Wages and Productivity Commission of the Department of Labor, an employee working in the National Capital Region receives P491 a day. That amount may not be enough to provide the basic needs of a family with three children. AN EMPLOYEE’S GOAL Not having enough capital to start a business is the primary reason why an employee gets stuck with just a single means of earning.  You may have seen from some offices employees selling products to add to their income. While some companies do not allow this, some employees still find a way to earn through a small business.  Another possible means where one can earn more is by selling products through networking. There are legitimate networking businesses in the Philippines that help many people increase their means of living.  Not really focusing on converting people into millionaires, but there are products that can be easily sold because of the great benefits that they provide the user. Just be sure to engage with legitimate businesses.  Prior to joining a networking business, you may need to pay a fee equivalent to a starter kit that you can eventually sell. Joining fees depend on the networking business you want to be involved with. AN OFW’S OPPORTUNITY Working overseas has some advantages and disadvantages. Read More …

Tips on empowering franchisees for growth

 News
Feb 272017
 
Tips on empowering franchisees for growth

Armando Bartolome Marketing training will help franchisees succeed and at the same time, grow the franchise. The right marketing skills is at the core of every business. That is why franchisors should be able to provide the right training. When you thought of having your business franchised, have you also thought that more than accepting their payment, you have an obligation to help them market your brand? Before you even try to take that step, allow yourself, as franchisors, to become fully aware on how you can expand the business. There are workshops on how to recruit more franchisees, spending right, improving franchise marketing skills, and tapping social media to recruit more franchisees and grow sales. Once you are able to figure out all of these, you may be able to start training for your new franchisees and focus on how you can help them succeed in the business. Involve a third party expert for training. Never expect that your franchisees are experts in the field of marketing. Some may have just wanted to start with the business and carefully learn from it with your help. You may also want to hire a third party expert to train your own team that can eventually be the people to train future franchisees. This may mean added cost to the franchisor, but this will make franchisees feel important. Encourage old franchisees to talk to new franchisees. They can help boost the confidence of the new franchisees by sharing their experiences. Always encourage all your Read More …

Why Should I Make a Budget?

 News
Jun 242015
 
Why Should I Make a Budget?

People often will say they have a budget. You say you know where your money goes and you don’t need it all written down to keep up with it? I issue you this challenge. Keep track of every peso you spend for one month and I do mean every peso. I know of a lady entrepreneur who set a budget by use of several envelopes. Everyday this lady entrepreneur at end of each business day, would set aside amount for purchasing goods from the market, daily rental, etc. Whatever is left she deposits in her bank account. Here is a test, which she voluntarily shared with me. She called it a test to see what small items can be a big savings. You will be shocked at what the itty-bitty expenses add up to. Take the total you spent on just one unnecessary item for the month, multiply it by 12 for months in a year and multiply the result by 5 to represent 5 years. That is how much you could have saved AND drawn interest on in just five years. That, my friend, is the very reason all of us need a budget. If we can get control of the small expenses that really don’t matter to the overall scheme of our lives, we can enjoy financial success. The little things really do count. Cutting what you spend on lunch from 200 pesos a day to 150 pesos a day on every workday in a five-day workweek saves Php. 250 Read More …

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