Business

Talks about Mommy Ginger’s business tips and advice for momtrepreneurs. She shares valuable knowledge on topics like branding, marketing and consumer insight.

I have interviewed quite a number of mompreneurs and a lot of them mentioned passion as one of the things that you will need to have is your want to start your own business.  I do agree with them when they mention that mompreneur passion to be one of the necessary requirements before starting your own business. For me though, this isn’t enough.

Passion is an emotion. When you look it up in the dictionary or in wikipedia, it is defined as a strong (positive) feeling for something or someone. I believe that you cannot start a business with merely having a feeling that that makes you want to get up and do something. I had the same feeling about businesses before that I just wanted to do. At one time, I was really passionate about being a freelance makeup artist. I attended classes for it. I knew I also had the skill and the artistic talent. I bought a lot of make up. I bought my own kit. I spent probably almost Php 75,000 from all the make up that I bought and the classes that I took. Was passion there? Yes, there was definitely passion there!

But, after a year of offering my freelance make up services, it died down. Why? Because I lacked planning. I just jumped the gun and offered my service. I didn’t study the market. I was too excited to start.

Planning is crucial in creating a business. With planning, you utilize not only the heart but also your mind. I remember my strategy when it came to creating new products for the corporation that I worked for before. I use it now for my business and for when I mentor mompreneurs. I create three plans. I create a full blown business plan, a financial plan or analysis and a marketing plan (which I normally just do in PowerPoint).

These are the three plans that I suggest that you create, too, before jumping into any business. Why create these plans? It will help and steer you into the right direction for your business. By going through the whole business plan, it will help you check on the feasibility of your business (to see if it’s not only your needs you are answering). It will help you see the potential market or customers for your business (to see if ‘passion’ actually addresses concerns and needs of a substantial amount of individuals). And lastly, it will help you see if this ‘passion’ is something that you can sustain financially (of course, all of us want to continuously do what we are passionate about).

In the next business tips that I will be sharing for mompreneurs, it will be on how to create effective business plans, financial analysis and marketing plans that are simple enough for us, mompreneurs.

What are your thoughts on passion and planning? I’d love to hear them!

Mommy Ginger

Mommy Ginger

What an experience! I can now cross out #30 on my life list, which is to be interviewed on TV. Martine, my friend from DaintyMom.com, and I were interviewed on ANC’s Shop Talk. We were asked to talk about the
It’s a WAHMderful Life workshop: Real Ways to be a WAHM, which will happen tomorrow!

Martine and I at the make-up room

Martine and I at the make-up room

We had a fabulous time! It was a great experience talking about work-at-home-moms and women empowerment.

ANC Shoptalk interview 1

Here is the copy of the video! Like it please on YouTube!

 

We really hope that we get to help women achieve their goal of being a work-at-home-mom or a mompreneur. There are a couple of things in my life list that is geared towards helping mompreneurs. I am already conducting mentoring sessions, too, for those moms who want to go into business, and who need sound advice. If you want to meet up with me, just leave a comment below and I will get back to you! I’m still revamping my portfolio site, GingerArboleda.com, but I plan to have it live by end of February 2013.

Anyway, who’s going to the workshop tomorrow? 🙂 We can’t wait to meet all those who signed up for the workshop tomorrow! Feel free to approach me and let’s chika! haha! See you all tomorrow for It’s a WAHMderful Life: Real Ways to be a WAHM.

Mommy Ginger

Mommy Ginger

One of the things in my life list that I would want to cross out this year is to start my own Sole Proprietorship business (That’s #37 in my Life List). Aside from just simply crossing it out, I wanted to experience how it really was in opening a business. I had a partnership opened before (a partnership with my friend, Sharon), and most of the paper work was actually outsourced to a messenger. We, of course had to pay for them to process our papers.

I wanted to find out how hard (or how easy it was) to open a business. So what I did was I really went to DTI to go through the process. I went to the DTI Area 2 Office for (Makati, Pasig, Taguig, Muntinlupa, Las Piñas and Pateros) which was at the 2/F Atrium of Makati Bldg., Makati Ave. cor. Paseo de Roxas, Makati City. They are open from Monday to Friday from 8am-5pm (tel. No. 501-5135). For those applying with a business address in QC, this is where you should go instead: DTI Area 3 Office(Mandaluyong, Marikina, QC and San Juan) at G/F Highway 54 Plaza, EDSA, (Across SM Megamall) Mandaluyong City which is also open on Monday to Friday, 8am-5pm (Tel. No. 706-1767). Shout out to my sister-in-law, Neva!

When I got there, I didn’t have to get the form from the guard because I already filled up a form that I got online. So to save you time, just download this form, fill it out and create two copies.

BN Application Form (2011-06-13)

The guard got it and stamped a number. This will be your number while you wait in line. I got there at 1:30 pm and some of the DTI officers were still on their lunch break. I think it would be better to go in the morning instead. I think the line would be faster. When I got there, there was only 1 person receiving the application forms. Around 2:00 pm, three people arrived to help out, so the processing time was faster.

DTI in Makati

DTI in Makati

When I was called, I handed over my form. The first thing she said was that I had to change the name. I applied for Manila Workshops or Manila Workshop or ManilaWorkshop.com. Apparently, you cannot use any name of a place in your business name. That’s one tip I have for you. I had to change it to GPA Events Management Services.

Another tip is that you cannot be vague. That is the reason why my business name is long. It has to contain words that really tell of your service. The good thing about processing your own papers is that you can decide quickly. If you have someone else process it for you, that person will have to call you and ask for the name that you would like to use to replace what you wrote. Then he/she will have to ask the DTI processor again and then get back to you. That process would be tedious.

DTI Cashier Window

DTI Cashier Window

After we agreed on the name, the DTI processor asked for my ID. I gave my passport. It took her some time before she could finally type everything into her computer. Finally, she gave the document back and I went to the cashier’s window to pay for my fee. The fee that you have to pay depends on the scope of your business. Fees are:
Barangay: Php 200
City/Municipality: Php 500
Regional: Php 1000
National: Php 2000

You also have to pay Php 15 for the documentary stamp tax. After paying, you give your application form and the receipt to another processor. She will be the one to release your DTI Certificate of Registration.

DTI window for release of Certificate of Registration

DTI window for release of Certificate of Registration

 

When she calls out your name, be sure to check the spelling of your name, your business name and the address. This is very important! Don’t just leave. I found 3 errors, which I asked them to change.

After they retype it, you are done with the DTI process! 🙂 Congratulations, you have managed to pass through the first step in setting up a Sole Proprietorship Business.

The next step would be the application for Mayor’s Permit in the Municipal Hall of your place of business and then with the Bureau of Internal Revenue.

This is a great guide to follow when setting up your own Sole Proprietorship business:
http://www.dti.gov.ph/uploads/DownloadableFiles/A_Guide_to_Registering_Business.pdf

Hope this article helps!

Mommy Ginger

Mommy Ginger

In business or even in marketing, you cannot do away with the word “objective”. What is your objective? I have become immune to that sentence. I do know of some people who are allergic to that word though. Come to think of it, it really sounds intimidating. I don’t want to use that word in this post. I’ll simply use the word “Reason”. I think that’s a lighter and more practical word to use.

Setting goals or objectives can be too intimidating for some especially when asked even before starting a business. At least with reason, it’s a word that we cannot do without since we use this human capacity for making conscious decisions, analysis or justifying actions based on existing information. Like for example, I made this conscious decision to inhale this packet of peanut butter cookies even though I may have gained more than expected during the holidays.

What diet???

What diet???

But seriously, before starting a business, you really need to state a reason for doing so. Objectives and goals can come after. What is your reason for planning to put up your own business? Is it for the financial gain that comes with it? Is it because you want to pursue your passion and life-long dream?

I read this article of Jeff Haden entitled, One Test Every Entrepreneur Must Take. If you answered “yes” to both questions I raised above, what Jeff says will be a disappointment for you. He says that “Sadly, these two options tend to be mutually exclusive–unless what you love to do is grow a business”.

He continues to explain that there will come a point in time when your business will have to expand and grow to give you the financial gains that you expect. If your business is something that you love doing “hands-ons”, then eventually, you will have to let go and watch it grow from a distance where you may not be able to do the things that you are passionate about.

I actually agree with him. I personally believe that at some point in time, I will have to learn how to delegate and be busy with strategy and direction for my business. Right now, I am enjoying doing everything for Manila Workshops — meeting new people, developing plans for partners, making each learning experience worthwhile and building relationships with suppliers, attendees, and partners.

How about you? Have you thought of your reasons for starting or coming up with your own business? If you want to choose both, you can pretty much do so by determining where line intersects between the income that you will be content with and with the satisfaction that you get from doing things in our business that you love. As a momtrepreneur, this is key. If you and your husband plan to make this business of yours the primary source of income in the future, then you may have to choose financial gain in the long run. If you think that this is just so as to augment or to help in adding to the household budget, then maybe, your reason is to do the things that you are passionate about.

What’s your reason?

Mommy Ginger

Mommy Ginger

I am in the process of reviewing and ‘re-reading’ some of the books that I have read before. I am not much of a reader, to tell you honestly. The books that I love reading are those that give tips for entrepreneurs, personal finance management books, entrepreneur/start-up guides and branding books.

My collection in my IPAD :)

My collection in my IPAD 🙂

One of the books that I am reading now is Stephen M. Pollan’s Die Broke released in 1997. And in the first few pages of the book, specifically in page 23, he discusses the change of attitude towards work based on socioeconomic patterns. He suggests that we adopt what he calls the Mercantile Ethic.

Die Broke by Stephen Pollan

Die Broke by Stephen Pollan

Most of us are defined by our work. I remember the time when I was still working for a corporation as an employee. I would obviously be proud that I was a product manager in one of the stable banks in the Philippines. In each seminar or event that I would go to (even if it wasn’t related to work), I would introduce myself as a banker. And in my day-to-day job, I would think of what’s best for the company even if it meant going home really late at night or sacrificing weekends just to finish a presentation or even skipping meals just to meet deadlines.

Now, what Stephen Pollan says is that in this day and age, their is no such thing as corporate loyalty. This is a reality that we all have to face. He suggests that we try ‘quitting in our minds’ today. What does quitting in our minds today mean? We need to start thinking of ourselves, too. This is one of the tips for entrepreneurs that I believe in.

Why did I bring this up? A lot of people ask me, how did you make the jump from the corporate world to become a momtrepreneur. It wasn’t an overnight thing, believe me. You don’t just wake up and resign and then viola! You start your own business. It will take a lot of thinking, self-control, decision making, analysis, reflection, self motivation and will power.

In January 2012, I already probably (in Pollan’s terms) quit in my mind. I knew that I wanted to have a baby already, so I was taking steps to start my own business and create extra income — income that would eventually take the place of my monthly pay. I was ‘intentionally’ steering towards that direction of being a work-at-home-mom. Being a workaholic, it wasn’t easy. I was still working late and working during weekends, but time management was a strength of mine. What I did was I created a schedule that would allow me to work on the things that I wanted to do in the future while still working for my employer. I was still doing a great job at work, mind you, but I was INTENTIONALLY thinking of my own bottom-line, too. Do your job exceptionally well during work hours and then go home and do what you love.

Weekends and evenings should be all about you. No working… stop yourself! And there are no such thing as dues to be paid to your company for providing you pay and benefits. This was one thing I had to learn. I’m a nice gal and at the back of my mind, I always think that I have dues to pay to other people for things that I should actually be expecting and getting. Your pay is the ‘pay’ment for the job that you do well. You don’t owe your employer anything, in fact, for those days that you needed to work more than the required time, they should have paid you more. I know it’s easy to say, but difficult to absorb.

Changing your attitude towards work will definitely be the first step if you are still working and thinking of becoming a work-at-home-mom or a momtrepreneur. It’s not the easiest thing in the world to do, but it can be done.