Business

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

End of Year Business Checklist (for Sole Proprietorships)

Sharing this article with Sole Proprietorships and Freelancers / Professionals.

It’s almost December 31 and we’re still as busy as ever. I’m personally busy also as I need to “close” some things for my Sole Proprietorship business. As you know, I am a co-founder of Taxumo, but I have my own personal business which is registered as a Sole Proprietorship. We often hear the term “closing” from business people when it’s December, but we don’t know exactly what they mean. This is especially true if you are new in running a business or not in business at all but exploring this world (might be a plan for next year).

So I decided to write this as a guide for all Sole Proprietorships and Professionals/Freelancers, because we normally need to do the same things anyway when it comes to compliance.

The things that I will share in this article are the things that I personally do.

Collect all Pending Receivables

Receivables are funds that you need to collect from clients. So in my case, I monitor all of my collections in Trello. My handler, Niña and I then go through it and we try to contact the clients that we have to ask if they can pay before the year ends.

The reason why I do this is because I need to issue official receipts and collect 2307 (Creditable Tax Withheld) forms from these clients so that I can include it for this year.

Track and Compute the Taxes that you need to pay for January

People usually forget that you need to pay for their Percentage or VAT taxes as Sole Proprietorships in January, need to Renew their Mayor’s or Business Permits and even pay the Annual Registration Fee for the tax ministry (BIR or Bureau of Internal Revenue). Since they forget it, they usually end up not having money to pay these taxes or to even renew their businesses.

I use Taxumo so I know exactly how much I should set aside for my taxes for January and even for April’s Annual Income Tax Return (Annual ITR) tax deadline as early as now. This is how I efficiently plan my finances. It’s actually good that I collect in December, because I don’t have a problem anymore when it comes to funding these. I can sleep soundly at night.

What I do is I actually set aside these funds and place it in my ING account so it earns higher interest rate. I don’t touch it, too. 4% is huge so “yey” for me!

As for Business Permit Renewal for Sole Proprietorships, I secured the services of Taxumo for this. They have limited slots though since the government process in the LGUs is still very much MANUAL. To be honest, I’m not sure if they have slots to help you process your Mayor’s Permit / Business Renewal in your LGUs. Tauxmo Can cater to Metro Manila, Rizal, Cavite, Laguna, Tarlac, Pangasinan and Baguio clients. If you are interested to check if they have a slot, email customercare(at)taxumo(dot)com.

By the way, for Freelancers and Professionals, check your occupational tax receipts and professional tax receipts. Some of the LGUs require that you renew that on a yearly basis. You may need to go to your barangay to renew those. Some also require an NBI permit and a health certificate so that you can renew it (just a heads up!).

But, here is a checklist that you can use of what you need to compile. I’m proud to say that I’ve completed all of these things. I “printed” (shucks! super wasteful process 🙁 haay!) all of my tax filings and BIR confirmations that the Municipal Hall needs. They will need to know your gross sales for the year.

As for this, if you know someone from your Municipal Halls or work for Municipal halls, please let me know. For full disclosure, we at Taxumo have ways to help them really simplify all of these.

So going back, yes, you have to print all of these. Check out my complete files!

Sole proprietships Business Permit Renewal Documents

I’m so proud… I’m going to tear up. For some reason, I love that sense of accomplishment after completing this checklist. I feel like an adult! haha! Wait, I am one! haha!

It took me just a couple of hour printing since all of my filings (files and documents) are in Taxumo. I didn’t need to scramble through all of my files. I printed the form, BIR confirmation and the Payment record. I then signed all of the forms and used binder clips to distinguish the Income tax forms with SAWT attachments and confirmation, versus my VAT forms (I am VAT so for Non-VAT entities, you’ll have Percentage tax forms) versus the Annual Renewal fee or the 0605 form that I paid via Taxumo last January.

Update your Books

Sole Proprietorships books of accounts

So I finished updating all of my books, too. For those who are wondering, YES, I write them all by myself. Taxumo allows you to generate and print a report that’s formatted already so you just need to copy it per column. Check out the picture above. The papers on the right side are the reports from Taxumo and one of my books is the one on the left. These books of accounts reports come with any of the subscription plans of Taxumo.

So there, that’s what I do at the end of the year. I got my stuff all in order, and I feel that I can enjoy celebrations now!

How about you? What’s your “end-of-year” business process? Shout out to all Sole Proprietorships and Professionals! Share it with us. Let’s help one another.

Here are other articles that you might want to check out:

Quarantine in a modern sanctuary with Revolution Precrafted

Ever since the COVID-19 pandemic threw the world into a lockdown, limiting movement to the essential and effectively forcing the great many to stay in the confines of their homes, people have taken a good long  look at their abodes. Beyond the safe haven that our homes have always been to us, we now look to it as a “pod” that takes us on the telecommute to work, the virtual streaming background from where we “zoom-in” with friends and associates across the planet, and then always, the home that we retreat to, back from our quick forays to “the outside world.”

Across the world thus, people have started to rethink their ideal homes in terms of location — many choosing to transfer to less densely populated settings, and in terms of design — many choosing modern artistic themes that define and inspire more than “a new normal” but truly a new way of life.

Practical yet inspired

“People want to seize this moment, amidst pandemic to make very real and visible changes. Many see it as a chance to transform our environment, our lifestyles and our very homes. Practical yet inspired. Those values must define us today,” said Robbie Antonio, Founder and CEO of Revolution PreCrafted.

Revolution Precrafted is a fast-growing player in the real-estate industry, providing contemporary prefabricated homes designed by revolutionary designers like Lev Libeskind, Fernando Romero, Zaha Hadid and even our very own Kenneth Cobunpue. This company prides itself by democratizing access to world-class architecture and making it available to a wider market segment. In fact, a Revolution Precrafted home can be completely delivered in as fast as 60 days.

Art as ones sanctuary

According to Antonio, in the current pandemic, the demand for prefab homes has actually risen. “What we have seen is that people need a secure sanctuary to live and work from home without sacrificing their style. They are also looking for ways to live inspired amidst the reality, by turning to art. So that’s what we do – we make art that is literally your own abode,” said Antonio.

In fact, despite the pandemic, Revolution Precrafted has already 4,600 homes sold from their 5 residential projects in the Philippines alone like the Batulao Artscapes. The company will also start 2021 on a good note as they will have 300 homes to be delivered by the first quarter of the year. “This success inspires us to continue providing ground-breaking innovation in home living and design not just in the Philippines but to the rest of the world,” Antonio says.

Now the company plans to conquer North America. They are set to start on their real estate projects in key cities and destinations like New York, Arizona and Los Angeles. Antonio says, “Half of our inquiries are from the US so we are excited to finally bring our product and introduce them to the North America market. We believe that our homes designed by critically-acclaimed visionaries and offered at a better price point have a universal appeal.”

He adds that with their entry into the North America real estate market, more people will finally have the chance to live in an art-inspired living space without the high cost and long painful wait of construction.

ABOUT REVOLUTION PRECRAFTED

Revolution Precrafted is a global proptech startup based in the Philippines. It has dealership and supply agreements in Asia, Europe, Middle East,North America and The Caribbean. It is the only startup company from the Philippines, valued at over $1bn dollars. For more information, log on to revolutionprecrafted.com

Human Nature Reseller: Start You Own Business with a Heart

Join the mission of Human Nature to help the nation as you help yourself succeed

2020 has been tough on all of us. Life as we know it has changed forever. And as most of us discovered, if we are to thrive, not just survive in the time of covid and recession, we need to change our mindset and evolve. We need to hustle! We need to look for additional sources of income.

There are a host of entrepreneurial options to choose from. Some have monetized their hobbies and have gone into the food business. Some took advantage of the growing plant scene and decided to cater to the needs of plantitos and plantitas. Others have discovered they can earn from their
favorite products by becoming resellers.

While there is an abundance of personal and home care products in the market, one company stands out in their product offering and in their vision.

Human Nature is a local social enterprise that has made its mission to uplift Filipinos out of poverty. To provide a good quality of life for the working poor, they have committed to dignified and living wages, a No-Firing policy, No Work on Sundays policy and business practices that put their people above profit.

Their genuinely natural range of plant-based and cruelty-free beauty, personal and home care essentials have also been specially formulated to be free from harmful chemicals that may be harmful to your body and the environment.

Human Nature believes that you can help yourself while also helping the nation by setting up your own business with a heart. They encourage you to join them and share the goodness by reselling natural, sustainable beauty, personal and home care products that care for you and for our planet.

Yes, many dealers/resellers have proven that you can earn and save a lot with Human Nature. But more than the earnings and savings, it’s about transforming lives, showing love for our country and conserving the planet. It’s about helping your family switch to a healthier lifestyle by providing them with affordable safe and natural products.

If you love Human Nature products and want to get them at great prices for you and your family, sign up to be a member. Just for a limited period until January 22, 2021, they’re giving the lowest-ever membership fee of P500 instead of P799. You can purchase P588 worth of products at SRP but pay only P500.

As a Human Nature member, you get:
● 15% discount guaranteed for the first six months
● Member-exclusive promos and freebies
● Complete assortment of genuinely natural products

If you want to earn from a social business that makes a positive impact on the poor, the Philippines and the environment, become a dealer/reseller, or even become a Community Ambassador in your village/subdivision! You just have to buy P2,665 worth of products at SRP but pay only P1,999. You also get their cult-classic product for free — the Sunflower Beauty Oil 50ml — until January 22, 2021.

Human Nature Reseller

As a Human Nature dealer/reseller, you get:
● 25% starting discount guaranteed for the first six months
● Dealer-exclusive promos and freebies
● Earn up to 30% discount when you increase your sales
● Earn up to 12.5% on your referred friends’ purchases

Signing up is easy. Register and fill out the membership/dealer application form and submit requirements at any Human Nature branch or through their website. Then choose your own membership or dealer/reseller starter product kits.

Join the Human Nature community now and earn a good living while being part of the mission to care for the poor, the Philippines and the environment today!

Human Nature Products

Share your thoughts on social media! Don’t forget to follow them on Facebook and Instagram at @humanheartnature and use the hashtag #HumanNatureGoodness.

Human Nature products are available in Human Nature branches nationwide, at our Human Nature website, from Human Nature dealers and Community Ambassadors, and major retailers like Robinsons Supermarket, The Marketplace by Rustans and Shopwise.

Website: humanheartnature.com
Branches: bit.ly/HNOpenBranches
Dealers & Community Ambassadors: bit.ly/HNDealerDirectory
Retail Partners: bit.ly/HNRetailPartners
Lazada (COD Available): https://c.lazada.com.ph/t/c.0JTiPe

How I got my first 4000 Subscribers on Youtube for GTV

I know that my chosen title “How I got my first 4000 subscribers on Youtube for GTV” sounds a bit clickbait-y, but I really wanted to write this article, not only for you, but for me. I wanted a way to document the things that I have done and the things that I am about to do.

Way back in 2015, I started creating YouTube videos. In that year, I actually had a team produce my videos. My best friend, April, helped me. The content that I wanted to share were videos that will inspire a lot of starting entrepreneurs and freelancers.

But that enthusiasm for creating videos was replaced by prioritizing the businesses that I was running and starting during that time. Don’t get me wrong. That’s not a bad thing. I just made my own decision on what things I needed to prioritize at that time. As you may know, 2015 was also the time that we thought of Taxumo, and I was also involved in creating two other startups that time. I didn’t have time to create videos for my YouTube channel, GTV.

Fast forward to 2017, the same thing happened again. This time, I wanted to create beauty vlogs. I love studying skin care products, that I created videos on different products. My subscriber base started going up again. But, again, I had to set vlogging aside as during 2018, we at Taxumo, had to prepare for the TRAIN law.

Looking back, I saw everything clearly. The things that I did and the decisions that I mad, and seeing my numbers now gave me clarity on what I could have done differently and what I can do moving forward.

So, I’m writing this blog today, to share with you what my thoughts are and also to remind myself later on what to do.

My Road to 4000 subscribers on Youtube

Tip #1: If you want to achieve something, it’s 100% possible. You just have to decide that you want it.

Looking back, I knew that I wanted to grow my channel. But, I wanted to grow my business more. And this was a decision that I made. I think there was no wrong decision (and I’m sure, as humans, we will justify our decisions regardless of how the decisions turn out… haha!).

Both of these things are important to me, but all of us have limited time, so we need to decide on what weighs more for you at a given point in time.

What I want to impart is that everything is 100% possible. All your dreams are 100% possible. You just need to decide to work on it if you want to turn it into reality.

Tip #2: Know where you are going, but celebrate small wins.

People don’t know the work that is done behind creating each video, no matter how short or long and no matter what the format is. For people like me, with no production team, I think of the content, I write down the script or questions (if it’s an interview), I think of the value the video might be able to bring, I look for the people to interview and invite them, I research about the products and I record the video.

After recording is done, I edit the video, fix the other elements and description on Youtube, check if it’s SEO friendly, monitor metrics, see if topic is engaging, promote the videos, and repeat the cycle.

I know that ultimately, at the end of the day, I want to help people learn something new everyday, especially when it comes to business, career and freelancing. Of course, I won’t let go of other things that I love talking about, too, like beauty, skin care, motherhood and cool, gaming, unique gadgets and purchases. I think that’s what the playlists are for really. Lol!

At the end of the day, what matters is if people get to learn from my videos. That’s what will make me smile. And to my point about celebrating small wins, I rejoice whenever I get to create a video. I celebrate that feeling, because this is what gets me motivated again to create other videos. I love the sense of accomplishment it brings (ako gumawa nyan!). Just take it one day at a time, and when you look back at your metrics (just like this one), you’ll be happy that you focused on creating value and moving the needle a little bit every day.

Views of GTV

Tip #3: Be consistent.

We all know this. When we do something consistently, from aloting one hour a day to develop a skill or one hour a day to workout, it’s impossible that you won’t see any positive change. We will definitely get to the goal that we have set for ourselves.

Things that stop us from being consistent are these things:

  1. You purposely chose to prioritize something else. (In this case, it’s fine. You probably realized that something “weighs” more in your life that you made that intentional decision.)
  2. You are demotivated to continue, because you are not achieving the numbers that you set for yourself. (In this case, revisit your numbers as you may have set the wrong ones. If these are big targets, you may want to break them down so you’re not overwhelmed by the end goal).
  3. You are doing this activity for the wrong reasons and give up easily because of this. (In this case, ask yourself why you are doing this. Is it for money, fame and popularity, selling another product or service, educating others, makes you happy, outlet for your emotions, to pass the time, revenge, etc. Be clear on why you are doing this.)

Tip #4: Look for things that you know you can do (skill) and will enjoy and provides value.

I have always admired people like Julie Nolke (she’s so funny!) because I always wanted to make people laugh. I just know that it’s not a skill that I have. Lol! But what I do have experience with and love talking about is business, entrepreneurship, creating and growing a startup, finance, productivity, marketing, and skin care.

When I started embracing these topics, people naturally gravitated to my channel because they knew exactly what they were going to get. They knew exactly what to expect. So this helped me a lot.

Tip #5: Learn and try out new tools, and invest in tools that works for you.

It was only this year that I got to learn about TubeBuddy. TubeBuddy is a tool that helps you optimize your videos. Honestly, it has helped increase the chances of my videos being seen on Youtube.

You can sign up and test it out: TubeBuddy.

You can learn more about how to get started from this video:

This tool really helped me a lot since I’m the only one preparing, editing, posting and marketing my videos. Check out TubeBuddy; it’s super worth it!

Tip #6: Learn from the most recent video that you did.

During the latter part of reaching 4000 subscribers on Youtube, I watched my metrics because data tells me the story of my viewers. I get to see what they love viewing, and what topics are most engaging for them. With the things that I learn from the previous uploads, I iterate and adjust content, topics, editing, etc.

These are the 6 things that I wanted to share and I, personally, wanted to take note of.

I’ve created 260 uploads since the time that I started and have 336K views so far. I have 4000 subscribers on Youtube as of date. More than these numbers, I’m more excited by the thought that I’ll be sharing the stories of more business owners and enablers in the MSME ecosystem. Looking forward to a great 2021 for all content creators, business owners, freelancers and entrepreneurs!

Simple Real Estate Investing for A Newbie Investor (Hotel 101)

My family has been living in a condo unit since 2012. We made this conscious decision since it turned out to be cheaper than buying a house (cheaper to own and rent one) and the location was great (at least for the choices that were presented to us). The reason why real estate investing is popular is because of the fact that there is a huge market of buyers. In business, we call this the target addressable market (TAM). The bigger the TAM is, the better for the business, since you have an ocean of paying customers whose need needs to be addressed.

In recent years, a new trend and investment option in real estate investing has been widely talked about, considered and jumped into by both experienced and new investors. It’s called Condotel Investing. And this form of investment has quickly gained popularity due to the fact that this opportunity promises passive income. 

Since I know that a lot of you, my dear readers, are looking for a safe haven on where to invest your hard – earned money, I took it upon myself to study condotel investing. I took a closer look at investing in Hotel 101, condotels from DoubleDragon Properties Corp. 

Before we jump into it, I’m sharing this investment checklist that you can use to assess different kinds of investment opportunities. Left 3 blanks at the end, just in case you want to add more  factors and questions.

Guide to Real Estate Investing
Investment Checklist that you can also use when considering real estate investing

Together, let’s go through assessing Hotel 101 as an investment opportunity. In looking for a good investment, let’s go through the things that you need to check.

Who is behind this business? How is the company doing?

For those who don’t know much about real estate investing (and I for one didn’t know this until I researched about it), Hotel 101 was developed by Hotel of Asia, Inc. which is a subsidiary of DoubleDragon Properties Corp. DoubleDragon Properties Corp. may have rung a bell for you since they are 35% owned by Jollibee (Honeystar Holdings Corporation; the Tan & Ang Families), 35% by Injap Investments Inc. (made their name when they established Mang Inasal) and 30% by the public (since they are a publicly listed company).

They also have other projects like CityMall, DoubleDragon Plaza, CentralHub, etc. They have assets worth Php 113.55 Billion with 37% year on year growth from 2018 to 2019. With the information that we have gathered, it looks like a stable company that’s far from folding and bankruptcy. 

What is the investment vehicle? What is Hotel 101?

Hotel 101 is a brand of condotels of DoubleDragon Properties Corp. which offers a simple and hassle free investment. Basically, investing in condotels is like investing in your own condominium unit, without the hassle of looking for people who will rent the place. It being a “hotel” comes into play, because Hotel 101 has a full-service staff, housekeeping (so you or the customer/renter need not worry about cleaning the unit), concierge services and amenities that guests can share. 

Now comparing Hotel 101 with other condotels, the former does not charge the investor maintenance costs, repair costs and association dues. With Hotel 101, the property developer takes care of all the operating expenses, unit repairs and maintenance.

Also, Hotel 101 has project locations nationwide. Hotel 101 – Manila is operational. Hotel 101 – Fort and Hotel 101 – Davao will be completed in 2021. They will also have projects in Boracay, Cebu, Bohol, Palawan and Libis.

How much do I need to Invest?

Since we are in the aspect of comparing, I love how simple it is to invest in Hotel 101. First of all, they have just one size for the Happy Room which is 21 square meters. All of the investors invest in the same size of unit. Other condotels have different sizes so it’s hard to monitor and track your revenue. Different computations make investing harder to understand for the beginner investor. Having one room size also allows all unit owners to own an equal share in the hotel revenues, so income share is distributed equally across unit owners regardless of whether their actual unit was used that month.

These are the four different payment schemes for Hotel 101, specifically for Fort. If the four payment schemes are hard to read, feel free to email Hotel 101 at inquiries@ddsales.com.ph.

In comparing it to 10 year Government Bond yields, you will see that the yield is significantly higher.

Real Estate Investing on Hotel 101 versus Government Bonds

How do I invest and how do I Earn?

When you invest in Hotel 101, it’s just like purchasing your very own condo unit, and Hotel 101 takes care of the rest. The property developer looks for people who will rent out the unit. They will take care of maintaining the unit, upkeep and making sure that the unit is clean and sanitized.

What’s nice about it is that you can also transact and make the investment from your home. You need not meet frequently with the property developer, as how it usually is when you purchase a condo unit. It’s really hassle free; you can invest while in the comforts of your own home.

How much is the return on my investment?

These figures below are approximate projections based on assumed figures for Hotel 101 – Fort. Occupancy rate is basically how much of the units are occupied by renters / customers. And just to give you an idea, Hotel 101 – Manila (current project) had an 89% occupancy rate last 2019 and 82.53% in the first half of 2020 (BPO companies would rent rooms for their employees to keep them safe and so that they don’t need to travel).                                                        

It’s very important to note that Hotel 101 also bases revenue share on the Gross Room Revenue and not on the Net Room Revenue. Be sure you check on this also when you’re seriously looking at condotel investing. The gross and net amount can make a huge difference on your projected or target return.                                

Real Estate Investing: Hotel 101 Revenue Projections
If you need a copy of this, you can again email inquiries@ddsales.com.ph

So checking on the location of the condotel investment (with any property in real estate investing) is crucial, because you need to foresee what the occupancy rate will be. For the two new projects of Hotel 101 in Fort and Davao, you can check out their website Hotel 101 to ask for more information. 

Real Estate investing in the Philippines

I personally have seen the location of these two projects and these are good locations for condotels. 

And in terms of Return on Investment or ROI, you will always have an annual return for as long as the hotel is operational. What varies is the rate of return. With Hotel 101, you will also be given 10 FREE nights to stay in the hotel and enjoy the amenities. It’s good to use it and test it out, too, so that you can give constructive feedback to the property developers. The 10 free nights compose of 5 free stay vouchers to be used in the project where the unit is located and the other 5 free stay vouchers can be used in any Hotel 101 anytime you wish, subject to room availability for free voucher use. Comparing it to other condotels, the others give out 15 free nights, but you can’t use it on peak days. 

Revenue is also paid out every month! Can you believe that? For other projects, they only distribute revenue share annually or quarterly.  

Aside from that Unit owners receive 30% of Gross Room Revenue every 16th day of the succeeding month, and the 30% of Gross Room Revenue is divided equally among unit owners, regardless if their unit was used (unlike traditional rentals). 

What do you need to continuously check?

In my opinion, if in your investment plan, you plan to invest in vehicles that need not require too much attention, investing in Hotel 101 is a good investment. I think the things that you need to monitor are (1) news about DoubleDragon Properties Corp. and Hotel 101; and (2) ask about Occupancy Rate every so often. 

The reason why you need to monitor news about Hotel 101 is because branding and a good reputation matters to the end consumers. How they keep their units clean and sanitized, what are they doing to protect the safety of all renters, etc. matter to people especially during these times.

Conclusion

They say that those who become successful during times of recession are those who can spot good investments. Investing in condotels, specifically in Hotel 101, is something that you may want to consider. It’s simple to understand. Investing in Hotel 101 also doesn’t require much effort so you can focus on spending time with your family while earning passive income.

If you have more questions about real estate investing, particularly this investment, you can reach them at:

Website: Hotel 101 

Mobile: +639175078111

Email Address: inquiries@ddsales.com.ph

Hotel 101 Facebook