Monday, November 24, 2008

Should You Quit Your Job to Start a Business?

Hi everyone. Here’s an advice given by Mr. Ping Sotto (I’m wondering what’s his real name, umm, *thinking*, Pong? Panfilo, as in Panfilo Lacson? How ‘bout Felix? Anyone knows?) on what path to choose – entrepreneurship or employment? Should you pursue a business or should you just look for a job? (This was taken from the “Magandang Business Advice” segment of GO NEGOSYO BIG TIME aired last Sunday, November 16, 2008.)

QUESTION: Ano pong mas advisable, mag-negosyo o maghanap na lang ng trabaho na medyo malaki ang bigay?


Napakagandang tanong mo, ang tanong d’yan na sinasabi mo, entrepreneurship ba, or employment? Mag-nenegosyo ba ako o magiging empleyado?’Yan po ang kadalasang sitwasyon ng ating mga kababayan. ‘Yan po ang tinatawag nating “tyranny of the ore,” tyranny of the ore, negosyo, empleyado? Dapat po, instead of tyranny of the ore, embrace the genius of the head. Empleyado may negosyo. ‘Di po ba, bakit kailangang umalis sa opisina para mag-negosyo? In fact, para ‘dun sa ating mga fresh graduates, umpisahan natin sa fresh graduates, ang aking advice sa inyo, no, is, get good grades, study well, no, kagaya ng last segment, sinabi natin, no, choose pay now, because, a, it will lead to greater pleasure, no. So, kapag ika’y empleyado na, ‘yung una mong dapat gawin ay mag-impok. Dapat, habang ika’y empleyado, mag-save ka ng mag-save. Ang tawag ‘dun ay “pay yourself first,” no. Kung sa tingin mo ay pwede kang magtipid ka kaagad ng isang libo, itabi mo kaagad ‘yun. Kung kinaya mong nabuhay ng walang isang libo, dagdagan mo, gawin mong dalawang libo. Kung hindi man ‘yun naging successful, meron ka pa namang employment to go back to. Bakit kailangan tumalon ka na nang wala ka pa namang parachute? Kailangan, kapagka-successful na ‘yung iyong negosyo, at napipigilan ang paglaki dahil ang oras mo’y nakatali sa pagiging empleyado, d’un ka mag-resign. Pero, ngayon, a, ‘yung iba nating mga kasama sa buhay, no, matagal na matagal nang nag-empleyado, tapos, ang (isusugal?) ‘yung kanilang retirement pay, na hindi pa nagtry ng kahit anung negosyo habang sila’y empleyado. Ngayon, ang matatanggap na retirement pay – isang daang libo, dalawandaan libo, tatlong daang libo, isusugal mo sa negosyo? Pag-natalo, wala ka nang employment na babalikan, retired ka na, e. So ang pag-nenegosyo habang ika’y empleyado. Hindi ‘yun ginagawa kapag katapos ka na pagka-empleyado, habang ika’y employed pa, mag-ipon ka, sumubok, kung hindi maging successful, meron babalikan pang employment that pays you (on the) 15th and 30th of the month. Para sa mga bata ngayon, get good grades, get a good job, save, and then, try your hand at business early on in the game. It’s never this or that, but the key is, employment and entrepreneurship.

- Ping Sotto

Tips, tips, tips (a summary): Should you put up a business or should you look for a job? Here are Mr. Ping’s suggestions:

1. Get a job and put up a business. Like what Mr. Ping said, “it’s never this or that, but the key is, employment AND entrepreneurship.” I agree. But for those who don’t have a job like me, I want you to think that “having a job” is just one option, “creating a job” is another. It’s just that, here in the Philippines, the second option is not as popular as the first one. We Filipinos would rather work for someone, for an employer. I guess it’s because it’s the easier and more comfortable way to go through life. As for me, I am taking a different route; I am taking the not-so-travelled path of going into business (after working for quite sometime). I’m not saying that I’m successful now, but I will be, with God’s help. I don’t have an employer now, but I have 2 small rakets (a small business and this blog, yes, this blog).

I really don’t know who this Tony Lopez (but I can always google him) is, but I was able to read one of his articles posted on the Manila Times website last October 4, 2008, and in that article, he mentioned this line: “If you cannot find work, create it.” I know it’s easier said than done, but we just have to try. (I did a little research and found out that he has this blog “Biznewsasia.” Here’s the URL:

2. Get good grades, study well, and get a good job. I’m sure that Mr. Ping has already read Kiyosaki’s “Rich Dad, Poor Dad” book, but I guess, what Mr. Ping just wants to say is, it’s better to have a job. And it’s never wrong to have a job. In my opinion, I repeat, just an opinion, not everyone is an entrepreneur by nature (yes, I know, entrepreneurs are made, they’re not born), and so not everyone can put up and run a successful business. It’s still better to have some qualifications slash credentials. Unless you have an existing family business, I think it’s more advisable to get a job first and save, and later, put up a business. Or do both, a job and a business, at the same time.

3. Save. Such a powerful word, “save.” Especially now that recession has taken place in many parts of the world. I read an article that gave one tip when you’ve lost your job due to recession: Conserve your cash! Conserve your cash! Cash is king!

Mr. Ping advised to save, save and save. But don’t save too much to the point of turning into a Mr. Scrooge. (I wonder who ever first came up with the idea of saving. I mean, people save something when they know that that something has very limited supply, right?)

If you have a job, save. By the way, did you know that Mr. JG Summit Chairman Emeritus said this: “If I have ten pesos, I spend only one peso and save the nine pesos. That was how I ploughed back my profits. I spend very little and save a lot.” Wow! How ‘bout that? Being Mr. JG Summit Chairman Emeritus’ fan, I guess I am on the right track. When I was still working, I had this boardmate (who was also a workmate) who introduced me into this wonderful world of business and money (he was a management graduate). I was not a “saver” then, I was your ordinary slash typical Pinoy young adult, though not really a “spender,” I was not a “saver.” :-) But now, I know how to save, and I know why I SHOULD save. In my opinion, the reason why some Filipinos don’t save is that they don’t see any point in saving. They don’t have any “real” reason to save. I mean, we first must have a goal in life, and to me, I think not all of us have goals in life, meaningful goals, that is. (I’m not saying that I have a meaningful goal in life, I just have a goal.)

Trivia: Did you know that, according to a Yale University study, “save” is one of the most powerful words in English.

4. Don’t be a retirement-pay gambler. This one’s for the old folks (or the young ones who’ve made it a goal to retire young, like Kiyosaki). Mr. Ping said not to gamble your retirement pay if you’ve never had business before. I’m not really sure if I should agree with Mr. Ping. I guess, what the retirees should do, if they’re planning to put up a business, is not to spend all of their retirement pay. It doesn’t hurt to put up a small business – first, right? You don’t need to spend all of your money into business, you know? And why should they dream to become big-timers? They are retirees; they’ve already worked and worked for decades. If they ever planned to become big-timers, they should have invested in business when they were much younger. They’re supposed to enjoy their time now. Why should they be working so seriously on a business when they’ve retired, and tired, already? But I know this is not the case for everyone. There are retirees who want adventure; they want to do something great. Although I’m not an expert, I guess, what they should do is start with something that they like, something that they love. Perhaps a hobby.


Benedict said...

paano ka kumikita sa blog mo? Nabasa ko na ito dati pero kung meron ka mga tips, pwede mo i-share? Thanks.

Negosyo franchise said...

Nabasa ko narin yun dati kaso hindi masyado malinaw sakin kung paano kikita ang isang blog!? pwede mo nga ba i-share sa amin. Salamat!


Fast cash loan Philippines said...

oo nga ako din curious kung paano kikita ang isang blog though marami na din ako nririnig tungkol dito sana naman i-share mo ang buong details. Salamat!