The Importance Of Socializing Your Buyers
One of the advantages of specializing in a neighborhood niche is that such an agent knows everything that's going on and most everyone who lives there. She's an active participant in the community, its events, and its goals. She impacts her community by helping to develop new construction or preserve historical homes. She serves on commerce and community boards to help attract jobs and economic development. She's intimately familiar with the homes that have sold and scrutinizes the homes that are currently on the market. She knows the history of the neighborhood's homes and its residents. In many cases, she has sold the same home more than once.
She is the local expert.
If you're such an agent, you've developed a wonderful niche. You are the perfect tour guide for your neighborhood, but there's still more you can do to ensure your neighborhood remains desirable. How? You can also be a social leader.
You've got the names and contact information in your online rolodex. It's easy enough to stay in touch by calling people you know and let them know you're thinking about them. It's also easy to let your contacts help you sell more homes, if you let them. How? By introducing them to your prospects so they can make friends.
Here's why it may help. According to a survey performed by Shari and Clyde Steiner, way back in 1998, people have many reasons for moving, but significantly, among those choosing to move (not a company relocation) the biggest advantage to moving, according to 79.2 percent of respondents, was a "change of lifestyle." The second biggest advantage to 66.7 percent of respondents was to make new friends. Curiously, while most people said they were moving to take a new job (8.18 percent) or get a better house (7.55 percent and 45.8 percent were leaving a too-small home), 7.55 percent moved to get away from friends or relatives.
If making new friends is part of the fun of moving to a new neighborhood, few are in a better position than the local real estate expert -- you -- to make introductions. The quicker your home buyers "feel at home" in their new neighborhood, the quicker they'll be passing along referrals to you.
Here are some quick ways to get started:
Ask questions. Find out the special interests of your contacts whether it's rock-climbing or scrapbooks, and resolve to put them in touch with individuals and clubs with the same interests.
Get organized. Use your contact management software to catalog details about your past clients and prospects. That way when you find out that your relocation buyer has a son who's interested in rockclimbing you'll know the right hook-up. Keep notes on schools, clubs, community support centers and social networking groups. Add a community events calendar to your website.
Be committed. Join local associations, service leagues and social clubs yourself so you'll have plenty of contacts, especially those that provide community services. Take your buyers on a tour of your neighborhood to include more than listings for sale. Show them why you and others love it. Show them the community theater with the visiting acting troupes, the dog park, and the little grocery that imports the best Australian wines and Greek olives. In other words, ask some questions and find out your buyer's hot buttons, and show them the things in your neighborhood you think they would enjoy seeing.
Be visible. Put a leash on your dog and head outside. Start knocking on your neighbor's doors. Refresh their memories that the busy lady/gentleman down the street is a working Realtor interested in his/her own neighborhood. Ask, "Do you know of anyone in your neighborhood who might be ready to make a housing change? Anyone with kids off to college? Is there a young family with a new baby? Anyone retiring?" Observe the neighborhood and note changes -- is there a new roof or remodeling going on? Do any homes seem neglected? They could be signaling a possible listing.
Why take your dog? To remind you that work can be fun. Dogs make great conversation and he'll be thrilled to go along. Don't forget to put some business cards in your pocket along with some doggie treats.
Remember conversation starters. Note changes and compliment the homeowner. Ask, "How long have you lived in the area? Did you like your landscaper/roofing contractor? I'm always looking for good referrals for my clients."
Ask permission. It takes personal interaction to sustain a relationship. When you're calling your contacts or your buyers, ask them if they'd like to meet some new people and tell them why you think the introduction would be worthwhile for both parties.
Entertain. You can make up a lot of social ground with a get-together. Choose a fun-sounding theme, such as a fall dinner party and call it "Out of Our Gourds." Serve finger foods, casseroles and soups out of hollowed out pumpkins, squashes and other colorful gourds. Make sure those without family have an invitation on holidays when it's convenient for you to entertain.
What makes socializing work best is thinking of others before you consider what you want to accomplish. As their wants and needs pop into your head, you'll soon find making social and business connections is easy, and new business will take care of itself. Not only will you be the neighborhood expert, you'll also be the binding agent that keeps the neighborhood together.
Taken from BAN.
Ninety-five percent of the problems you and I have in the area of time management are not really about managing time at all. What most of us call time management is really about managing our attitudeIn my opinion, time management is really an attitude issue, not a technique issue. By attitude, I'm talking about being truly focused on and enthusiastic about your goals. When you're really passionate about your goals, your vision, your Next Level, etc., you'll automatically do the most productive things to achieve those goals. Without the proper attitude, the best techniques in the world won't have much impact.
Fundamental Concepts of Time Management
1. Think self-management, not time-management. Time management isn't real. You can't manage a second or a minute. Time just is. But what we can manage is ourselves in that time. We can manage our actions.
2. Work by objective, not by crisis. Working by crisis might mean that there is no money in your bank account. Now we've got to go out and list and sell to get some money to get out of crisis. Working by objective, on the other hand, is having goals, designing who you are, determining your Next Level and living from that. When you do that you have less stress. So, the concept is to consciously manage your actions. What determines the actions one takes? What you're committed to (your objectives, goals and commitments). For example: Have you ever cooked for a family event? You have so much to do - cook loads of food, clean the house, etc. When you're in action, there are no thoughts, judgments or opinions getting in the way. Ten times more is done in this short period of time because you're working with this objective, this goal of what you're committed to.
Take that concept and apply it to your career. When you're committed to something happening in your career and you're crystal clear about it your actions will automatically flow. Time goes by quickly and you get the results to show for it.
3. Time management is a system of organized activities. We have this in certain areas of our personal lives; they're called routines. Routines are useful to establish positive behavior patterns that bring about the results we desire.
4. Time can be invested. You can invest your time. It's like when you invest five dollars and make ten back. You can invest five minutes of your time and get back great results. You're in the office from six to seven. You can return phone calls, clean your desk or pick up the phone to schedule listing appointments. What would be the best return on your time invested? Start to look at your time as a valuable commodity. Invest it as you would invest in stocks or bonds - like you would invest in anything that would give you a positive return on your investment.
5. You can't get it all done! This is a truism. You can't. At the end of the day you're going to still have things that you didn't get finished, so stop trying to get it all done in 24 hours. It's like a rat on a wheel in a cage. We work longer hours, we come home stressed, we unload it on our spouse, and so on. You'll get as much done as you get done. Period.
6. Do something as opposed to nothing. This is for the procrastinators. Get busy. If you're sitting in your office taking papers from one side of the desk and moving them to the other side and then back again, you're procrastinating. If you're sitting in the office at six o'clock, trying to think of what would be the most productive thing to do at this time...you're thinking and thinking, and looking and searching...stop all that nonsense and just get busy.
7. Live a balanced life. How many hours are there in a week? 168. We have career,
family, personal obligations - including sleep. According to Alan Lakin, who wrote "How to Manage Your Time and Life," a good workweek consists of two twelve-hour days, three nine-hour days and one four-hour day. That's a total of 55 hours per week. If you spend 55 hours in business and 73 hours personal hours (including sleep), that would leave you 40 hours for family. That would total 168 hours. What most of us in the real estate profession do is work more than 55 hours, and then we take the extra hours from somewhere else, typically our family.
8. Work a schedule. In my travels I've met many top-producing sales people. What makes them top-producing sales people is that they work a schedule. If something falls outside of their schedule they do one of two things. They'll either not do the business or they'll do the business, knowing that they have to make up for it somewhere else. What I recommend (especially if you're having struggles at home) is to make up a work schedule from Monday through Sunday and give it to your spouse and your manager and tell them that this is what you're committing to. In one of my training programs there was an agent in Austin TX was the top-producing agent in the whole program for a three-month period. What was really interesting is that he was a part-time agent and he listed more houses than any other full-time agent in this program. Why do you think that was? Because he managed his time. So, when you set a schedule for yourself and you're serious about keeping it, I promise you that you'll be more productive.
BAN-Time Management -by Darryl Davis
On a shoestring budget (and what entrepreneur isn't?), it really pays to scrimp and save.Just in case you've forgotten the value of a hard-earned penny, we've come up with a slew of
money-saving ideas to boost your business's bottom line—from finding ways to cut your legal
or electric bills to auditing your commercial lease and even unplugging your coffee maker.
Though some tips will save you more money than others, the end result of your overall spendthrift
strategy could add up to a bundle.
PENNY-PINCHING PROMOTIONS
1. Piggyback your advertising. Including advertising material in other mailings, such as ininvoices, saves postage and other costs, says J. Donald Weinrauch, co-author of The FrugalMarketer. Likewise, make the most of your point-of-purchase opportunities by tucking coupons,newsletters or other promotional fliers in the bag with customers' purchases.
2. Wait 'til the last minute. To keep print advertising costs down, consider "remnant" advertising.Many magazine publishers offer last-minute, unsold, discounted ad space.
3. Be a good neighbor. Split advertising and promotion costs with neighboring businesses.Jointly promote a sidewalk sale, or take your marketing alliance further by sharing mailing lists,
distribution channels and suppliers with businesses that sell complementary goods or services.
4. Ask the people you know for help. The kind of support you'd most like to get from yourcontacts is referrals—the names of specific individuals who need your products and services.
So go ahead and ask! Your contacts can also give prospects your name and number. As the
number of referrals you receive increases, so does your potential for increasing the percentage
of your business generated through referrals.
5. Got a happy customer? By telling others what they've gained from using your productsor services in presentations or informal conversations, your sources can encourage others to
use your products or services.
6. Make a special TV appearance. Local cable TV stations often have very reasonableadvertising rates at time slots throughout the day and night. Though you won't necessarily
reach prime-time viewers, you will make an impression where it counts—in the comfort of
potential customers' homes.
7. Be open to suggestions. For free market research, just ask your customers. Set up a suggestionbox at your place of business (or online), suggests Weinrauch. Ask customers to fill out their
names, addresses and e-mail addresses along with their suggestions, and you've got the makings
of a mailing list, too. While you're at it, ask your employees for cost-saving suggestions, too.
8. Follow the gurus. Jay Conrad Levinson is one of many marketing gurus to offer free marketingadvice on the Web. Check out his free advice on his site, www.gmarketing.com. You can also
find marketing and homebased business advice on our own marketing expert Kim T. Gordon's Web
site, www.smallbusinessnow.com.
9. Offer expert advice. Teaching a class, speaking at a community meeting, or writing an articlefor a local paper not only makes you look like an expert but garners low-cost attention for your business.
PHONE FACTS
10. Tune in to the Bells. Shop around for the best long-distance deal. To learn more about savingmoney on long distance, visit the nonprofit Telecommunications Research & Action Center Web
site at http://trac.org or search online for long-distance service comparison sites.
11. Dial toll-free. Before calling a vendor, supplier or even a customer, check the toll-free directoryat (800) 555-1212 to see if they have a toll-free number. Or check out AT&T's toll-free number
directory online at www.tollfree.att.net/tf.html.
12. Answer the call on VoIP. When selecting your phone service, consider switching from a traditionallandline to VoIP. Typically, VoIP services offer more bang for the buck. VoIP also allows you
to choose your area code, access your phone and features from anywhere there’s an internet connection,
and integrate other audio and video applications with your phone service.
INTERNET IDEAS
13. Start your search engines. Research your market and find potential visitors for your websiteby looking through Usenet newsgroups (forums on the internet where people post messages for
public viewing) and special-interest groups related to your target market, product or service. For
more extensive online information, visit Yahoo Small Business (http://smallbusiness.yahoo.com).
14. Advertise on the Net. Check out AdAge.com, a Web site that includes news, blogs andexpert advice for online advertising and other media.
15. Cut costs when setting up your online store. Think going online has to cost an armand a leg? You can start out by selling items for next to nothing on online auction sites like
eBay and Yahoo! Auctions. If you want to create a professional storefront, there are several
"website in a box" solutions available, usually for a low monthly fee.
Read more online: How Low
16. Advertise on someone else's site. Many website owners will provide a link on theirpage to your website for a fee.
17. Start chatting. Find newsgroups that cater to your audience, and join the fray. "I didn'tstart [participating in online discussion groups] to generate business, but as a way to find information
for myself on various subjects," says Shel Horowitz, owner of Hadley, Massachusettsbased
Accurate Writing & More and author of several marketing books, including Grassroots
Marketing. "But it turned out to be the single best marketing tool I use. It costs only my time.
[One] list alone has gotten me around 60 clients in the past five years." Always include your
URL in your signature, but don't do any hard selling-most groups will ban you immediately.
Instead, provide useful information that'll make people will want to click on your site.
18. Spread the word yourself. Are you letting people know what your URL is? Try putting iton your letterhead and business cards and in e-mail signatures—wherever potential visitors are
likely to see it. Include it on employee uniforms, any promotional items you give away, all press
releases, in your Yellow Pages ad and on company vehicles.
LOCATION LOGIC
19. Look over your lease. "A lot of people don't realize they're being overcharged on theircommercial leases," Auditing your lease agreement regularly with the help of an attorney familiar
with your type of lease. Pay special attention to the stated square footage and "shared
costs" you pay for maintenance of common areas (which you should ensure are actually being
maintained).
Read more online: Understanding A Lease
20. Get a suite deal. You don't have to run your office full-time from an executive suite tobenefit from its services. Many homebased entrepreneurs find executive suites meet a range of
needs, including access to a private mailbox and a receptionist to answer or forward calls to
your home office. Visit the Office Business Center Association International at
www.officebusinesscenters.com for more information.
21. Be mobile. While the costs of establishing a permanent retail location can be steep—you may spend up to $100,000 or more, with leases spanning three to 10 years—carts, kiosks
and temporary spaces can be an easier way to get a foot in the door with a lot less risk. The
upfront investment for a kiosk or a cart ranges from just $2,000 to $10,000, according to
Patricia Norins, publisher of Specialty Retail Report. License agreements for carts and kiosksare shorter and are usually renewed every month up to one year depending on the location.
This arrangement makes it easy for entrepreneurs to "come in, try it out for a month, and if
their product isn't working, shift to a new product line or close up shop and move to a new location,"
Norins says.
Read more online: How to Start a Kiosk Business
ENERGY EFFICIENCY
22. Put things in a better light. Using fluorescent rather than incandescent light bulbs conservesenergy and lowers your electric bill.
23. Use your entrepreneurial clout. "Utility [companies] have a stake in the economic developmentof a community and often offer special rates to entrepreneurs," says Pete Collins of New
York City-based PricewaterhouseCoopers.
24. Unplug your equipment. Save electricity by turning off the coffee maker in your breakroom, suggests David L. Scott, author of The Guide to Saving Money. Pour the fresh coffee into alarge thermos instead. Have employees turn their computers off at night and install motion sensors
so that unoccupied rooms aren't sucking up your electricity at all times of the day.
25. Buy and use energy-efficient products. Look for the Energy Star (www.energystar.gov)label; it was created by the U.S. Environmental Protection Agency and the U.S. Department of
Energy to help reduce unnecessary energy use and air pollution by labeling energy-efficient, costsaving
products for homes and offices.
26. Request an energy audit and off-peak usage discount from your utility company. Theenergy audit is free, and they'll give you plenty of tips to conserve energy and reduce your power
bill. For the discount, get a printout of your energy consumption. "Ask for a discount when your
peak usage coincides with their low-point usage," advises Lyn Richards, owner of Dog Logic, a
resource center for large and giant-breed dog owners and breeders in Manchester, New
Hampshire. "Many power companies will give a 2½-cent-per-kilowatt-hour discount when you do
this."
OFFICE OVERHEAD
27. Buy recycled printer cartridges. Check Google or your Yellow Pages for a local recycledprinter cartridge supplier. Or if you want to mix your charitable instincts with your printing needs,
visit www.lasermonks.com, a remanufactured printing supply company run by a group of monksin Wisconsin who, after business expenses are paid, donate their profits.
28. Draft a savings plan. Make your laser printer cartridges last longer by using draft mode toprint interoffice memos and other less important documents.
29. Cut down on copies. Monitoring your use of copiers saves on supplies and maintenance.
30. Fill it out for free. Instead of buying forms at your local office supply store or spendingtime creating them yourself, you can find tons of free forms online that you can download, customize
and print. Entrepreneur.com's Formnet (www.entrepreneur.com/formnet) can get youstarted.
431. Don't give 'em so much garbage. Many businesses overpay to have their garbagepicked up dail. Many times your containers aren't even full. Reduce costs by reducing your
service to every other day. You can also reduce the amount of office garbage you generate by
recycling your white paper—first by using the blank backs as scratch pads and then by taking it
to a recycling facility where they'll pay you to take it off your hands.
32. Get free software. Visit www.download.com to try hundreds of software products for freethrough trial downloads, freeware and limited versions of the full product. Visit
Entrepreneur.com's Complete Guide to Software (www.entrepreneur.com/software) to find thebest software options for small businesses, including many links to the free trials of those
brands. Another tip: If you haven't found what you're looking for through Download.com or our
software guide, check out the manufacturer's site. Most offer free trial downloads.
33. Buy computers by mail. You'll pay for shipping, but the savings of not having to paystate sales tax (if you're not buying from a site with offices in your state) often makes up for it.
34. Buy used equipment. Save up to 60 percent by buying used computer equipment,copiers and office furniture from stores such as the nationwide Aaron Rents & Sells chain.
Auctions and newspaper classifieds are other good sources of used equipment.
Read more online: Go Retro
35. Send just the fax. Rather than waste paper, transmission time and effort on a fax coverpage, use a Post-it note or simply write at the top of the first page you're sending.
AUTO ADVICE
36. Consider leasing. If you put lots of mileage on your business vehicle and expect todrive it for less than five years, try leasing. (Beware, however, of mileage limits and nonrefundable
deposits, which may make leasing less attractive). Leasing frees up capital and enables
you to drive a luxury car for less.
37. Put your best fleet forward. Ask your dealer if you qualify for a cost-saving fleet incentiveprogram. Though such programs are typically geared toward fleets of 10 or more cars,
some dealers will work with small-business owners.
38. Stay away from the pump. Fueling business cars gets expensive fast, especially if yourcompany makes deliveries or your salespeople spend a lot of time on the road. A few simple
steps can help slash your gas expenses. Start by checking the owner's manual for the octane
rating your vehicle needs. Most can fill up with the less expensive 87 octane. Next, assess driving
habits, which have a big-time impact on your gas bill. Are your drivers first off the line when
the light turns green? That burns big gulps of gas. Is your impatient right foot constantly mashing,
then releasing the throttle? Maintaining a steady pace is more fuel-efficient. Must people
really drive 75 miles per hour? Cutting back to 55 mph translates into 25 percent more mileage.
Poor vehicle maintenance decreases fuel efficiency, too. Clogged air filters or wheels that need
alignment can drain dollars at the pump. Tires are prime gas-guzzling suspects, too. The correct
tire pressure can give you as many as 20 more miles from each tank. Learn to use a tire
pressure gauge.
INSURANCE INTELLIGENCE
39. Save by association. When looking for insurance, check with your trade association. Manyassociations offer competitive group insurance.
Read more online: http://www.entrepreneur.com/insurancecenter
40. Shop around. At the end of each insurance policy period, review your business's needs andget several bids before renewing your policy. Ask your agent to review your coverage, do a risk
assessment and make suggestions on how you might be able to save money. Insurance companies
are always introducing new products, and what was the best deal for you last year may be topped by
something else this year.
41. Be prepared. Buying appropriate insurance upfront saves money in the long run, says JeanneSalvatore of the Insurance Information Institute (www.iii.org), a nonprofit organization in New YorkCity. Consider what situations would be catastrophic to your business and protect yourself with adequate
insurance. "Disaster recovery," says Salvatore, "is one area where business owners shouldn't
scrimp."
Read more online: In Case of Emergency
42. Make a foul-weather friend. By arranging for an alternative place to run your business in caseof a major disaster, you may be able to save on business interruption insurance, advises the
Insurance Information Institute. For instance, you could arrange with a firm in the same industry to
use their facilities in case of damage, and vice versa.
43. Check up on your medical insurance. Before choosing a medical insurance carrier, ask forinformation on past claims and the loss ratio of paid claims to premiums, advises the Council of
Better Business Bureaus (www.bbb.org) in Arlington, Virginia.
44. Raise your deductible. Raising the deductible on your insurance usually lowers your premiums.Even if you end up having to pay the deductible, it's likely to be less than the amount you save.
45. Make an adjustment. It often pays to adjust your health insurance stop-loss amount so thatyou pay a higher percentage, capped at a lower amount. Though in a worst-case scenario you could
end up with more out-of-pocket expenses, your premiums will be lower.
46. Review your rates. Business owners are often classified for workers' compensation insuranceunder the wrong rate by their insurance company. As a result, you may not be getting the proper discount.
Read more online: Staying Alive
47. Don't leave well enough alone. Sponsoring a wellness and/or disease managementprogram for your employees can cut your health-claim and insurance costs. Promote a bike-towork
week or publish an employee newsletter of health tips, for example.
Read more online: An Ounce of Prevention
EMPLOYEE ECONOMICS
48. Offer perks. Often, it's the little things that make employees happy—and they don't haveto cost a bundle. Consider buying movie tickets for local theaters at a bulk discount, getting a
corporate rate at your local gym, or offering flextime.
Read more online: Offer Employee Perks While Still Getting Results
49. Give 'em a day. Offer a high-performing employee a paid day off for a job well-done. Itmay cost you anywhere from $50 to $120, but you'll be rewarded with a happier employee.
50. Aim to lease. Employee leasing—in which you turn over your work force to a professionalemployer organization that leases your employees back to you—can save you substantial
cash on employee benefits. For referral to a leasing company near you, visit the American
Staffing Association online at www.staffingtoday.net.
51. Go with the flow. Rather than paying for employees who sit idle when business is slow,consider hiring temporary employees to handle surges in business.
52. Provide cross-training. If employees can handle more than one job, you may not needextra temporary help during peak periods, suggests Collins.
53. Make experience count. Get free or low-cost help—and give local college students achance to learn the ropes—by hiring interns.
Read more online: Intern Burn
54. Use independent contractors. Employers generally don't have to withhold or pay anytaxes on payments to independent contractors. But be very careful that your independent contractors
fit the definition provided by the IRS or you could face penalties.
Read more online: It’s Classified
55. Commission your sales force. Overhead, salaries, incentives, training costs, fringebenefits and expenses add up when you're hiring your own sales representatives. Contracting
independent manufacturers' sales reps, paid on commission only, is less expensive—and often
equally effective.
Read more online: Rep Talk
TRAVEL TIPS
56. Don't touch that dial. Never use hotel or pay phones for long-distance calls beforeinquiring about the charges, says Scott. If charges are too high, use your cell phone instead.
57. Consider a consolidator. Save a bundle by booking hotel reservations through areselling consolidator. Maitland, Florida-based Central Reservations Service, for example,
offers a discount of 10 to 40 percent on accommodations at no charge.
58. Keep looking for lower rates. Always ask hotels if they give discounts for businesstravelers or any groups you may belong to. Once you arrive at your hotel—but before telling
the clerk you have a reservation—ask about the lowest available rate. The rate they quote may
be even lower than the one you were told over the phone.
59. Cash in on car rental discounts. Sometimes smaller firms offer better deals thannational chains. Ask if you qualify for any discounts—for AAA or frequent flier program members,
for instance.
60. Avoid a collision course. Don't pay the high cost of collision and comprehensive insurancethrough a car rental company if you don't have to. Not only does your personal auto
insurance policy probably cover you, says Scott, but many credit cards include car rental insurance
if you rent a car using that card.
61. Call on all car rental firms. It's never too late to negotiate for better terms: "Even if youalready have a reservation, it pays to do some last-minute shopping at the airport," says Scott.
Cancellations and excess inventory may mean one agency can cut you a better deal than
another.
62. Fly for free. Build your airline free-travel vouchers by using a credit card that offers frequentflier miles. Be sure, though, you're disciplined enough to pay off your card every month.
Visit WebFlyer.com to get more information on frequent flier programs.
63. Don't give up on a discount. If you call an airline and learn all their discount seats aresold out, don't give up. "Airlines limit discounted seats on each flight, often based on the number
of seats they expect to sell at full price," says Scott. "If a flight doesn't fill as rapidly as
expected, they might open additional discount seats." It could pay to wait for a day or so and
try, try again.
64. Dine at a discount . . . discreetly. Use discount dining cards, such as Rewards Network(www.rewardsnetwork.com). You can save 20 percent at restaurants nationwide without showingcoupons or cards at the restaurant; instead, you get a monthly refund check in the mail.
Y o u r C o m p a n y T h o u s a n d s o fD o l l a r s W i t h t h e P e n n y - P i n c h i n g T i p s .
SHIPPING SAVINGS
65. Clean up your mailing list. The U.S. Postal Service will clean up your mailing list forfree, correcting addresses, noting incomplete addresses and adding ZIP+4 numbers so you'll be
eligible for bar-code discounts.
66. Prune that mailing list even more. The Direct Marketing Association offers this checklistof cost-cutting ideas. Eliminate nonresponders and marginal prospects; print "Address
Correction Requested" on the face of your mail; investigate co-mingling your mail with that of
other small mailers to take advantage of discounts available mainly to large mailers; and stockpile
mail to build up larger volumes.
67. Be an early bird. Send mail early in the day, and you can usually expect to get one- totwo-day delivery for the price of a first-class stamp.
68. Make it a priority. Take advantage of the U.S. Postal Service's Priority Mail $4.05 flat-rateenvelopes or $8.10 flat-rate boxes. They often arrive in two days and cost less than competitors'
two-day rates.
69. Go for bulk. If you mail in bulk, consider a bulk-mail permit. The permit costs $160 peryear but means lower postage costs per piece.
70. Shop around for an overnight courier. Overnight delivery rates for the major couriersare competitive; however, if you're willing to wait a few hours—or even an extra day—you could
save.
TAX TACTICS
71. Waste not. When you’re ready to replace your old computers and office equipment,donate them to a nonprofit organization or school and get a tax write-off.
72. Give what it takes. Business owners can take a 100 percent write-off on each businessgift that's no more than $25. Compare that to the 50 percent write-off for business meals and
entertainment, and gift-giving has never looked better. Itemize any gifts—including the name of
the recipient and the general nature of your business with that person—and remember that husband
and wife are treated as one recipient, advises Crouch.
73. Mind some petty pointers. Don't get careless about your petty cash account. "Thoughyou don't need receipts for expenses under $75, you should still track these expenses since
they can add up," advises Crouch.
74. Hire your children. If your children are at least 14 years old and pay their own taxes, itpays to take advantage of their lower tax bracket. "You can essentially transfer income from your
business to them [to save money]," says Scott.
n Y o u r B u s i n e s s
75. Take a stand on taxes. If your business is new in the neighborhood, you may be at a higher taxrate than those who have been there longer. "Go to city hall to determine what your neighbors are paying,
and use this to negotiate a better rate," says Collins. "Expanding businesses can often negotiate
with community authorities, who want them to stay in town rather than move and take jobs elsewhere."
76. Homebased? Don't overlook crucial tax deductions. In addition to being able to deduct a portionof your rent or mortgage interest and utilities as a business expense, you can also deduct a percentage
of various home maintenance expenses, along with a portion of the cost of services such as
house cleaning and lawn care. Check out the IRS's website at www.irs.gov, or check with a knowledgeabletax advisor for more information.
77. Get out on the town. If much of your business is conducted at restaurants or you find yourselfdriving to clients' offices, make sure you take those deductions. If you entertain clients or potential
clients to discuss a current or future project, you can deduct a portion of your entertainment costs. To
qualify for this deduction, you must maintain a log of entertainment-related expenses you plan to
deduct. For mileage, you can deduct 48.5 cents per mile in 2007. This figure usually changes annually,
so check with your accountant at the beginning of each year.
FINANCIAL FOCUS
78. Make credit comparisons. If you tend to run unpaid balances on your credit cards at the endof the month, shop for a card with a low interest rate. If you pay in full, it's more important to avoid an
annual fee and look for a longer grace period. "Often credit card issuers waive the annual fee or
reduce the interest rate if you ask," says Scott. "Just tell your credit card company you've had several
solicitations from other companies with more favorable interest rates or no annual fees, and ask if they
will reduce yours."
79. Avoid cash advances. Credit card companies usually charge an upfront fee of up to 4 percentof the advance, with interest accruing immediately.
80. Bank on an early deposit. Make bank deposits early enough in the day so you get credit (andstart earning interest) that day.
81. Establish a link. By linking your checking account with another account at your bank, you canusually avoid checking charges, says Scott.
82. Get checks in the mail. Ordering your checks from a printing company often costs lessthan getting them from a bank. Options include Checks in the Mail (www.checksinthemail.com)and Designer Checks (www.designerchecks.com).
83. Form a buying alliance. Join with another business or a trade association for bulk purchasingdiscounts.
10
E N T R E P R E N E U R . C O M : 1 0 1 W A Y S T O S A V E M O N E Y I N Y O U R B U S I N E S S
S a v e Y o u r C o m p a n y T h o u s a n d s o fD o l l a r s W i t h t h e P e n n y - P i n c h i n g T i p s .
84. Take it with you. If you're near your suppliers, pick up your order yourself—or perhapshave a friend or family member do it for you. Caution: Pick up supplies yourself only when it
truly saves you money. If it's taking you away from a revenue-producing activity, you're not really
saving.
85. Be reluctant to give credit. If you do extend credit, thoroughly check the client's creditbackground, says Collins. For less-than-creditworthy accounts, Collins advises considering the
following actions: Collect cash in advance; send partial shipments; request letters of credit, personal
guarantees and a pledge of assets; take out credit insurance; or think about factoring
(see below).
86. Consider the factors. Factors—companies that essentially buy and then liquidate acompany's accounts receivable—provide an option to tied-up money, says Collins. For more
information, visit the International Factoring Association (www.factoring.org).
PROFESSIONAL POLICIES
87. Query your consultants. The professionals you work with regularly are often easy tobargain with, thanks to the rapport you've developed with them. Ask your insurance agent,
accountant or attorney how you can cut back on their costs. You'd be surprised at the suggestions
they might offer on ways to cut your premiums, reduce billable hours or avoid huge retainers.
You might also barter your services.
88. Be a legal eagle. When hiring an attorney, make sure you have a written fee agreementto prevent surprises. It should include an estimate of the time to be spent on your case and
specify what's covered in the fee—including typing or copying—and what is not.
89. Learn something new. Rather than pay a consultant to write your press releases, forexample, hire one for an hour or so to show you how to do it yourself.
90. Run from the law. "Avoiding lawsuits is a big factor in business success," says HolmesCrouch, author of 18 tax books. "Even arbitration can get expensive." The best alternative: Try
to work out any problems before they grow to the point that attorneys get involved. "Don't
ignore any written or phone complaints."
INVESTMENT IQ
91. Get ready to retire. Taking stock of your retirement plan options can significantly reduceyour tax bill. Not only are your contributions tax deductible, but the money in your retirement
account compounds without taxation until it's withdrawn after retirement. One of the simplest
plans to consider is a Simplified Employee Pension-Individual Retirement Account which allows
business owners to make tax-deductible contributions to employees' retirement accounts of up
to 25 percent of employees' incomes or $44,000. Other retirement plans include profit-sharing
Keoghs and money-purchase pension plans. Work with a financial planner to determine the
best plan for you.
Sn Y o u r B u s i n e s s
92. Opt for a discount. If you prefer to make your own investment decisions, using a discountbroker (such as TD Waterhouse, Scottrade or e-Trade) to buy and sell securities can
save you 50 percent or more on stock transactions compared to full-service brokerages.
BUYING BRAINPOWER
93. Stretch your budget with barter. Swapping one product or service for another is agood way to avoid cash outlays-and unload slow-moving inventory. If you'd rather not bargain
with other businesses directly, hire a commissioned barter broker (listed in the Yellow Pages
under "Barter"), or join a commercial barter club or exchange. The National Association of
Trade Exchanges (NATE) is a clearinghouse for member exchanges across the country, allowing
business owners to swap just about anything with anyone. Participants typically receive
"trade dollars" for their goods or services, which are brokered across cities nationwide with the
help of NATE. Visit NATE at www.nate.org.
94. Time your payments. Ask suppliers if they give discounts for early payment. If not, it's toyour advantage to pay your bills—including utilities, taxes and suppliers—as late as possible
without incurring a fee, advises Scott. "The longer funds are under your control," he says, "the
longer they're earning a return for you rather than someone else."
95. Barter for better compensation. Barter can also be an innovative way to supplementyour employees' compensation. For example, you could offer your sign-making services to a
barter exchange pool and, in return, receive the services of a local dentist. Then, instead of
paying for dental insurance for employees, you could provide them this valuable perk without
paying any cash.
96. Join an association. Many trade and business associations have reasonable membershipfees and offer discounts on everything from insurance, travel and car rental to long-distance
phone service, prescriptions and even golf course fees.
97. Seek at least three bids on everything. Even mundane purchases merit shoppingaround. If you quote a competitor's lower price, a supplier or vendor will often match that price
to win your business.
MERCHANDISE MATTERS
98. Get reacquainted with your inventory. With warehousing, handling and insurance,inventory carrying costs often exceed 25 percent per year, says Collins. To recoup some of
those expenses, present the product in a different light: "Restaging an old product is usually
less expensive than introducing a new one," says Weinrauch. "Often all that's needed is to
update its image, make improvements or create a spinoff."
99. Junk it. Get rid of unsold, damaged or returned merchandise at year-end, advisesCrouch. Advertise a year-end "fire" sale and save the advertisement for IRS documentation;
then whatever you don't sell, give to charity and get a receipt. "The lower your year-end inventory,"
says Crouch, "the higher your cost of goods sold—and the lower your reported net
income and taxes."
HELPFUL HINTS
100. Go back to school . . . and introduce yourself to the head of your local college
business program. Many of these programs build community work into their curriculum andcan provide valuable assistance in writing or revising your business plan—or doing market
research—for free. Visit Entrepreneur.com's Top Entrepreneurial Colleges listing
(www.entrepreneur.com/topcolleges) to find schools in your area with entrepreneurial programs.You can also visit your local Small Business Development Center (www.sba.gov/sbdc),a partially SBA-funded national program that offers assistance and information to new and current
entrepreneurs with 1,100 centers, often located on college campuses.
101. Consult Uncle Sam. Call your nearest Small Business Administration (SBA) office orSmall Business Development Center (www.sba.gov/sbdc) for information on no or low-costfinancing or growing a business. Also check out the SBA's website at www.sba.gov, whichallows you to download numerous useful publications for free.
undefinedwww.entrepreneur.com/1
Experience Shangri-La at St. Francis Shangri-La Place
With 60 storeys offering stylish comfort and luxury living, The St. Francis Shangri-La Place will set the standard for high-rise residences in the bustling Ortigas district.
A project of Shang Properties, Inc. the property development arm of the Kuok Group in the , The St. Francis Shangri-La Place is your private Shangri-La in the midst of the metropolis. The condominium’s strategic location provides access to an integrated Shangri-La Place community which includes the EDSA Shangri-La Hotel and the Shangri-La Plaza Mall, a gateway hub to upscale retail choices, entertainment venues, dining options and prominent hot spots.
Now you can also enjoy the perks of world class accommodations with promo packages that let you experience Shangri-La Hotel’s legendary warmth and hospitality even before you move in. Purchase a unit from November 20 until December 31, 2007 and get an exciting array of special offers.
Enjoy a two nights’ stay with Chi Spa treatments for two at the Edsa Shangri-La when you purchase a studio unit. Fly to Cebu and avail of a two-night stay with Chi Spa Treatments at Shangri-La’s Mactan Island Resort and Spa; choose between a trip with two-night accommodations at Shangri-La Jakarta or Shangri-La Bangkok with the purchase of a two-bedroom unit; and for a three-bedroom unit, get a trip for two and a two-night stay at Shangri-La Hotel Singapore. All accommodations include breakfast, and trips are inclusive of airfare for two persons.
Construction of the St. Francis Shangri-La Place is in full-swing with turn-over scheduled for early 2009.
The Ortigas skyline will soon be acquiring a grand, new landmark. With its twin towers reaching 60 floors, The St. Francis Shangri-La Place, will not only be the tallest condominium project in the country, but will set the standards for comfort, exclusivity and luxury living.
A project of world-class real estate and hotel developer, The Kuok Group, The St. Francis Shangri-La Place is strategically located at the heart of the bustling Ortigas district. Its prime location gives unit owners’ access to an integrated community that includes the EDSA Shangri-La Hotel (with its newly opened Chi Spa) and the Shangri - La Plaza Mall, with its wide range of upscale shopping choices, entertainment venues, and dining options.
Designed by world - renowned Hong Kong based architects Wong & Tung International Ltd. in collaboration with Philippine architectural firm Recio + Casas, the sleek St. Francis Shangri – La Place is a marvel of contemporary design.
A modern day sanctuary in the midst of the metropolis, The St. Francis Shangri – La Place’s spacious interiors feature large windows, high ceilings and individual balconies to take advantage of Manila’s panoramic cityscape. Roomy living areas and sophisticated design blends with the Shangri-La tradition of quality and luxury, redefining today’s benchmark for condo living.
Fit for any age and lifestyle, The St. Francis Shangri-La Place is fully equipped with first - class amenities and recreation choices such as a state-of-the-art clubhouse and gym, multi-purpose function rooms, aerobics room, adult’s game room, steam baths, sauna, children’s playroom, swimming pool and separate kiddie pool. Residents are also hooked to wireless fidelity (Wifi) facilities and 24-hour concierge services.
The St. Francis Shangri-La Place also boasts of meticulously planned Grand Penthouses. Spanning three levels beginning at the 59th floor, these luxury spaces occupy a floor area that range from 510 to 650 sqm, with its own private infinity pool, roof deck, glass enclosed sky lounge, and a sky garden. Each of the Grand Penthouse units has four (4) bedrooms, floor – to – ceiling glass windows, and a master bedroom with its own walk – in closet and Jacuzzi.
Atty. Andy Bautista, President of Shang Properties Inc., the property development arm of the Kuok Group in the Philippines, describes the sales of The St. Francis Shangri-La Place as outstanding with more than 730 units sold since its launch last November 2005. Construction is proceeding at a brisk pace and the project is expected to be topped-off by the first quarter of 2008.
Completion of The St. Francis Shangri-La Place is set for early 2009.
Your Foundation for Success
Relationship Selling is the core of all modern selling strategies. Your ability to develop and maintain long-term customer relationships is the foundation for your success as a salesperson and your success in business. Relationship selling requires a clear understanding of the dynamics of the selling process as they are experienced by your customer.
Propose a Business Marriage
For your customer, a buying decision usually means a decision to enter into a long-term relationship with you and your company. It is very much like a "business marriage." Before the customer decides to buy, he can take you or leave you. He doesn't need you or your company. He has a variety of options and choices open to him, including not buying anything at all. But when your customer makes a decision to buy from you and gives you money for the product or service you are selling, he becomes dependent on you. And since he has probably had bad buying experiences in the past, he is very uneasy and uncertain about getting into this kind of dependency relationship.
Fulfill Your Promises
What if you let the customer down? What if your product does not work as you promised? What if you don't service it and support it as you promised? What if it breaks down and he can't get it replaced? What if the product or service is completely inappropriate for his needs? These are real dilemmas that go through the mind of every customer when it comes time to make the critical buying decision.
Focus on the Relationship
Because of the complexity of most products and services today, especially high-tech products, the relationship is actually more important than the product. The customer doesn't know the ingredients or components of your product, or how your company functions, or how he will be treated after he has given you his money, but he can make an assessment about you and about the relationship that has developed between the two of you over the course of the selling process. So in reality, the customer's decision is based on the fact that he has come to trust you and believe in what you say.
Build a Solid Trust Bond
In many cases, the quality of your relationship with the customer is the competitive advantage that enables you to edge out others who may have similar products and services. The quality of the trust bond that exists between you and your customers can be so strong that no other competitor can get between you.
Keep Your Customers for Life
The single biggest mistake that causes salespeople to lose customers is taking those customers for granted. This is a form of "customer entropy." It is when the salesperson relaxes his efforts and begins to ignore the customer. Almost 70 percent of customers who walked away from their existing suppliers later replied that they made the change primarily because of a lack of attention from the company.
Once you have invested the time and made the efforts necessary to build a high-quality, trust-based relationship with your customer, you must maintain that relationship for the life of your business. You must never take it for granted.
Action Exercises
First, focus on building a high quality relationship with each customer by treating your customer so well that he comes back, buys again and refers you to his friends.
Second, pay attention to your existing customers. Tell them you appreciate them. Look for ways to thank them and encourage them to come back and do business with you again
Negotiating can be tough. It is more an art of applying techniques to each unique transaction rather than cut and dry responses. With home sales, each home has a person behind it with emotions that can be triggered either positively or negatively. Whether I am the agent for the buyer or seller, I advise my clients with facts rather than emotions.
I have run into other agents who get quite emotional and defensive about a transaction, and I can understand that inclination because some deals can just become so frustrating. But, as the agent, it is best to take a step back and provide professional consultation instead of escalating your client's emotions. These are some negotiating techniques to keep in mind as options rather than letting a negotiation go sour.
1. Don't sweat the small stuff.
It is common for people to haggle or get attached to small things like refrigerators. I try to put these things in perspective for my clients. Would you rather convey a $1,000 used refrigerator to these buyers who are ready to move forward with just this one concession, or do you want to put it back on the market and pay more mortgage payments until the next buyer is interested? A lot of times, by looking at the overall picture of how much it will cost to put something back on the market, including mortgage, taxes and insurance, there will be a breaking point at which the seller understands it is not worth the money.
From the buying perspective, if we take the refrigerator example again, is it really worth the refrigerator to spend more time looking and spend money on another inspection? Sometimes your client will say it is worth ending the deal. And in that case, you will represent them as they want, but most people become rational after they get past the initial emotions of ?wanting? something. And some clients will even thank you for helping them through the small things.
2. Negotiating other issues.
Think creatively. Sales price is not the only issue in a transaction. Closing a couple weeks earlier may be the best for both parties and can be negotiated, rather than concentrating only on sales price. One new home buyer offered her home to be on a property tour once a month in exchange for $5,000 in closing costs paid by the seller. Basically, understand the other party's situation so you can come up with something beneficial for them as well as the party you are representing. That way, you can hopefully turn the negotiations into a win-win situation.
3. Offering packages.
As a buyer, don't negotiate one thing at a time. When you present items to be resolved, for example repairs, always do this as a list. That way you can trade-off one thing for another. For one, negotiating one thing at a time is a waste of time when everything can be discussed at once. Everyone is busy with their lives, and no one wants to be pestered multiple times about one more repair item. This just makes the seller progressively more irritated and less agreeable to the next thing you ask for. Also, the list format forces the issues to be prioritized, and you can set your boundary of what can be left out and what absolutely must get resolved.
4. Dealing with threats.
This does not happen often, but some people will threaten termination as a bargaining technique. I would not advise using this technique, but it is good to know how to deal with it because the typical natural reaction is to tell them to buzz off. One solution is to ignore it and just talk about the strong points of your property or client. You can also re-frame threats to show that it is not in their best interest. For example, if a seller says buzz off to some repair work, you can ask them to reconsider by bringing up the strong points of your client, like a short close or strong pre-approval.
5. Knowing when bargaining zones do not overlap.
Sometimes the negotiations are just not going to happen. A buyer and seller are at opposite ends. In this case, rather than continue to make ridiculous demands (or at least seen as ridiculous by the other side) and creating a volatile situation, it is time to end the transaction and move on.
copy from BA-by Ki Gray
• 236 sq. ft. apartment - $30,000 USD - Very Affordable
Avida Towers Makati West , Makati - Welcome to a community that celebrates man’s need for space, a place where you can have more time to slow down, more room in life, and more peace of mind. Now, its doors to life open for you. Avida Towers Makati West. Discover residential living in Makati – a place you have always dreamt of owning.
Avida Towers Makati West is a master planned community of 2 affordable condominium towers, each having an L-shaped design to allow for optimum views from each unit. When completed, the project will boast of a modern tropical ambiance with its lush landscaping.
Property information
Avida Towers Makati West , Makati
-
Announcing a price reduction
on Malugay St.,, a 236 sq. ft. apartment. Now
$30,000 USD
- Very Affordable.
Property information
Central bank sees continued high growth
By Doris Dumlao
Philippine Daily Inquirer
First Posted 03:13:00 02/02/2008
MANILA, Philippines -- The Bangko Sentral ng Pilipinas (BSP), the country’s central bank, sees the economy continuing with the high growth and low inflation environment that made 2007 a banner year, despite threats of a sharp US-led economic slowdown this year, an official said.
The government's economic growth target of 6.3-7.0 percent remains achievable this year and government spending on infrastructure can push up growth even beyond 7.0 percent without stoking inflation, BSP Deputy Governor Diwa Guinigundo said at a news briefing.
"And even if we grow by 7.0-7.5 percent, that won't necessarily be inflationary,” he said. “It will not be a big challenge to monetary policy because potential capacity has moved up in the same way that in the US in the 1990s, they were able to push up the capacity to grow, courtesy of the IT [information technology] and the dotcom [boom]."
According to the latest BSP forecasts, the inflation rate this year will likely be 3.5-4.4 percent, well within the 3.0-5.0 percent target range.
For next year, the BSP projects an inflation range of 2.1-3.3 percent, also within the 2.5-4.5 percent target.
The central bank's latest inflation forecasts for this year factor in a possible P125 increase in the daily wage, a recurrence of a severe drought related to the rain-inducing La Niña phenomenon, which can dampen farm output, and continuing upward pressures on fuel, utility and some food prices.
The government on Thursday reported a stronger-than-expected growth in the gross domestic product of 7.4 percent for the fourth quarter of 2007, bringing the full- year growth to a 31-year high of 7.3 percent.
"It means that notwithstanding the shocks that we've experienced for most of the year coming both from the demand and the supply side, the resilience of the economy was ably demonstrated," Guinigundo said.
"At the same time, it also bolsters our confidence that even as the global economy goes into a slowdown and perhaps even a recession in some key economies, the resilience of the Philippine economy as shown in the fourth quarter of 2007 will serve us in good stead for the rest of 2008," he added.
The central bank's upbeat outlook for 2008 has not factored in a P75-billion fiscal stimulus package proposed by a presidential economic adviser, Governor Joey Salceda of Albay province, which calls for hefty tax cuts and public spending. Edited by INQUIRER.net
Cathay Land allots P6.75b this year Upscale developer Cathay Land Inc. is allocating P6.75 billion this year to bankroll the construction and development of 10 property projects in Sta. Rosa, Laguna. “We have earmarked P6.75 billion to develop 10 projects to be launched this year,” company president Jeffrey Ng said in a statement. He said the company would obtain funding from pre-selling activities as well as internally generated cash. Ng said the projects, which have a combined estimated sales value of P12.5 billion, would address the strong demand for a balanced and sustainable mix of residential and commercial developments in the Sta. Rosa-Tagaytay corridor. “We are confident that the property market will be stronger than ever this year. The area we are concentrating in has the fastest growth prospects in the entire country. Low interest rates have sparked a huge latent demand for premium housing in our fully-integrated golf resort city,” said Ng. The company, he added, has even expanded its landbank to 750 hectares to support five more years of mixed-use developments. South Forbes’ themed residential cluster will comprise the bulk of the company’s developments this year with the scheduled launches of the 15-hectare Thai-inspired Phuket Estates, the 30-hectare Italian villa-style Castel Romana, the 15-hectare art deco-styled Miami, the modern Singaporean-inspired Sentosa Heights and the chic Hong Kong-Chinese style in Victoria Peak. Sentosa Heights and Victoria Peak both boast of prime fairway lots. These lots ranging from 500-1,400 square meters will initially sell at P19,000 per square meter. “We are adding two more condominium cluster projects, namely the Asian modern Fullerton with office units on the lower levels and the Art Deco Miami Delano located beside the Ayala Westgrove Retail Plaza and St. Scholastica’s College. We are coming up with a different mix of unit types and sizes in each building to accommodate a wider market,” said Ng. Elaine Ruzul S. Ramos
MST Jan 28, 2008
British banking giant HSBC has raised its Philippine economic growth forecast to 6.9 percent in 2007 from 6.5 percent and maintained its 5.8 percent projection for this year.
“The Philippines is on a roll,” HSBC said in its outlook for 2008. “The peso, shedding much of its historic stigma, has been among the best performers in Asia this year, rising an impressive 16 percent against the dollar.”
HSBC said it raised its growth forecast for 2007 as latest data showed that the economy was consistently strong.
“The economy remains supported by surging remittances, fueling a boom in consumption that appears difficult to sustain but the fiscal deficit, long the economy’s Achilles’ heel, continues to contract, lending some valuable stability,” the bank said.
With the considerable narrowing of the budget deficit and the impressive strides made in reducing the public sector debt, HSBC said “government has bought itself time to put its house in order” although it remains “skeptical about the outlook for revenue growth.” It noted that privatization had a lot to do with the improving public finances.
HSBC said the government faced challenges in investments and inflation.
“Investment is still underperforming despite a series of interest rate cuts over the past year,” HSBC said. The bank blamed slow investments to structural bottlenecks that might be hindering greater capital expenditure.
“The country’s export performance has sagged of late, suggesting that competitiveness is suffering,” HSBC said. “Greater infrastructure expenditure in the next two years should help spur at least a gradual rebound in investment.”
HSBC said inflation in the Philippines had surprised on the low side despite spiraling oil prices that allowed the central bank to cut its rates.
It expects the base effects of higher oil prices on inflation to start kicking in this year. Eileen A. Mencias
http://www.manilastandardtoday.com/?page=business4_jan19_2008
Chesca de la Cruz
Since the introduction last July of the quiet and pollution-free electric jeepneys in exclusive residential villages Makati have placed their orders for these units to ferry residents and their staff around the private subdivision roads.
Already, Bel Air and Forbes Park in Makati have ordered units for immediate use in their private roads and Ayala Group, which operates other medium and upscale villages in the country and Fort Bonifacio of Metro Pacific have also discussed buying these units for their exclusive subdivisions.
The exclusive importer and distributor of these electric jeepneys is Solar Electric Co. (Solarco), owned by Robert Lopez Puckett, who designed the jeepneys with his engineers and entered into exclusive manufacturing contract with a China-based factory.
Even the local governments of Palawan, San Fernando in La Union, other provinces in Negros and Baguio are aggressively pursuing the ejeepneys for their roads in compliance with the Clean Air Act.
The innovator of electric vehicle and railway—Meralco (previously known as Manila Electric and Railway Company) wants to use the electric jeepney for its Meralco Management Leadership Development Center (MMLDC) in Antipolo and for its service fleet of repair and maintenance crews and installation group, said Puckett.
The electric jeepneys were launched July 4 simultaneously in Makati and La Mesa Ecopark in Quezon City and in Bacolod City by the consortium of GRIPP (or the Green Renewable Independent Power Producers) comprising of Greenpeace Philippines, Solarco, DOEN Foundation of the Netherlands (which funded the 400,000 Euro ejeepney project of Bacolod City for 50 units) and several other NGOs.
What is keeping Solarco from accepting orders for ejeepneys and placing volume orders with the Chinese factory is the delay in the release of license and registration plates by the Department of Transportation and Communication and the Land Transport Office.
"I do not want to order big volumes from China only to be kept in the warehouses at Customs because LTO and DoTC have not yet released the plates for these units," Puckett said.
The ejeepneys continue to attract global media attention--- especially so during its July launch where the Philippines landed the front pages and long tv mileages from major dailies and networks around the world. To this day, Puckett continues to be interviewed by foreign media syndicates.
Even Chinese distributors based in China are interested to place big volumes of orders for use in their respective roads. They are talking to Puckett since he has the exclusive marketing agreement with the Chinese factory.
The government of China is eager to adopt the ejeepney technology to save its billions of people from environmental pollution brought about by burning fossil fuel for motor vehicles. Another reason is the continued price escalation of Middle Eastern fuel.
Why not, Puckett asked. "With oil now at $ 100 per barrel and there is a forecast that it would reach 0 by end of 2008, which country would not want to explore other cheaper energy sources and vehicles using alternative energy systems.
The electric jeepneys introduced last July include a purely rechargeable electric vehicle and a combination of electric and solar-backed jeepney. The solar panels can run during the day and the electric at night.
From these modules, GRIPP intends to eventually use electricity from solid waste and even farm wastes in collaboration with Philbio.
"There are limitless possibilities. But with LTO and DOTC not acting fast, the Philippines might be overrun by China in commercializing electric jeepneys," Puckett lamented.
http://www.mb.com.ph/BSAG20080202115546.html Feb 2, 2008
1. Time is on your side. Those with more years until retirement can afford to put a greater percentage of their assets in the stock market.
2. Stocks mean risk and return. Those with a higher tolerance for volatility should put more money in the stock market than those in the same age group who have a lower tolerance.
3. College savings funds need stocks. Since college costs are rising faster than inflation, no other investment will keep pace as well as stocks. Invest more in stocks when your kids are young, and as they get older move more money into bonds.
4. Get professional advice. One of the best ways to develop an effective asset allocation plan is to consult a qualified financial planner.
5. Allocation is the key to achieving your goals. Studies have shown that asset allocation is the single most important factor in determining returns from investing.
6. Know your stock funds. Before you set up your asset allocation plan, you must find out the nature of the companies purchased by the mutual funds you own. It's not enough to go by the names of the funds themselves, either. In search of performance, far too many fund managers buy stocks that barely fit their portfolio's explicit investing parameters. So your "income" fund may, in practice, contain many stocks that should be considered "growth," or vice versa.
7. Know your bond funds. Similarly, you must learn the same about the bond funds you own.
8. Don't rely on software alone to build a savings plan. Software programs might not go far enough to devise your asset-allocation plan.
9. Determine your long-term goals. Do you want to buy a sailboat after you retire? Or pay off your mortgage so you can write a novel? Figure out what your long-term goals are, and what they will cost.
10. Get started. It's never too late to get started, and it's never too late to revamp or revise an asset-allocation plan.
1. Money in a bank account is safe.
A bank is one of the safest places to stash your cash since your account is insured against loss by the federal government for up to $100,000 per depositor.
2. You pay for the convenience of a bank account.
Banks pay lower rates on interest-bearing accounts than brokerages and mutual fund companies that offer check-writing privileges. What's more, bank fees can be high - account costs can easily add up to $200 a year or more unless you keep a minimum required balance on deposit.
3. Inflation can eat what you earn from a bank.
Even at a low rate of inflation, the annual creep in the cost of goods and services usually outpaces what banks pay in interest-bearing accounts.
4. Not all interest rates are created equal.
Banks frequently use different methods to calculate interest. To compare how much money you'll earn from various accounts in a year, ask for each account's "annual percentage yield." Banks typically quote both interest rates and APYs, but only APYs are calculated the same way everywhere.
5. You can get better rates
Certificates of deposit (CDs) offer some of the best guaranteed rates on your money and are insured up to $100,000 each. The catch: you have to lock up your money for three months to five years or more. If interest rates fall before the CD expires, the bank is out of luck and must give you the rate it quoted. If rates climb, you're stuck with the lower rate. Also with rising interest rates, money market accounts can become an attractive option, too. They pay more than banking accounts and you don't have to lock up your money for a specific amount of time.
6. ATM fees can take a significant bite out of your budget.
The convenience of using automated teller machines is an increasingly pricey one. On average, the fee your bank charges you to use another institution's ATM is $1.37, according to a Bankrate.com survey in fall 2004. That's on top of the average $1.75 that the other institution will charge you to use its ATM.
7. Getting the best deal takes work.
You won't get a great deal on a car if you just walk into a dealer and plunk your money down. Likewise, you won't get a great banking deal unless you comparison-shop and ask about price breaks. For example, a bank might offer free checking if you are a shareholder or if you direct deposit your paycheck.
8. Use the Internet to shop for bank services.
You can use the Internet to compare fees, yields, and minimum deposit requirements nationwide. Sites like Bankrate.com allow you to search and compare the highest yields and the lowest costs on banking, savings, loans and deposit rates nationwide. You can also search by geographic location or use CNNMoney.com loan center.
9. Banking online can make bill-paying easier.
Electronic bill-paying can save you the monthly hassle of paying your bills. And if you couple online banking with a personal-finance management program, such as Quicken or Microsoft Money, you'll be able to link your banking with your budgeting and financial planning as well. But be careful. Some vendors only warn the consumer of price hikes in the fine print of a bill.
10. You can bank without a bank.
A number of financial institutions offer accounts that resemble bank services. The most common: Credit union accounts; mutual fund company money market funds; and brokerage cash-management accounts
CNN 101 L-3