E.N.G.I.N.E.E.R.

,
Inc.
Technopreneurship
Prepared/Compiled by:
Engineer William Jacinto Juan, pee/rmp/mepf/ma/broadcaster
0915 292 8668 / 0922 501 5770 / 0919 605 4873
Proprietor, FEMP Safety Engineering Construction, 2013-present
CEO/Founder, Versatech Consultants & Mgmt.Corp., 1985-2013
Managing Director, K-Energy, Inc. (1990 2005)
Proprietor, Apocalypse Trading, 1987-1997

September 2015
 Short Resume of Resource Speaker/ Lecturer:
Engr. William Jacinto Juan,
pee,rmp,mepf,ma
Gen.Manager/Proprietor of FEMP Safety Engineering Construction, 2013-present
President/CEO/Founder of Versatech Consultants & Mngt.Corp., 1985-2013
Was Gen.Manager/ Proprietor of Apocalypse Trading, 1987-1999
President, Phil.Integrated Plumbing Engineers Society (PIPES), 2014-present
Founding President, Phil. Society of United Master Plumbers (PSUMP), 2013
National President, Pro-Change NAMPAP, 2012-2014
Former IIEE Natl Treasurer/ Natl Auditor/ Governor-at-Large
Former Chairmen, IIEE Balik Liwanag Committee & Electrical Safety Committee
Was Electrical Consultant/ Designer for PICOP/ SMC/ Parsons Intl/ AEP Intl/
Caltex/ Petron/ Coca Cola/ Selecta/ Avida / DMCI-UPDI/ Motolite Projects
Former EE Professor @ National U, 1979-1991
PEE-Top 1 (Oct.1980)/ Asso.EE-Top 3 (Sept.1979) / Asst.EE-Top 8 (Aug.1976) /
RMP-Top 5 (Sept.1989) / Amature Radio License DU1-ICH (94.5% rating)
BSEE 1976 - NU/ BSME 1987 NU
National President - Pugad Lawin Philippines, Inc., 2009,2010,2011
President Rotary Club of Pasig North, RID3800, 2005-2006
Broadcaster Talakayang Pinoy, DWAD 1098Khz
 Technopreneurship
What is the definition of
Entrepreneurship? Entrepreneurs?
Technopreneurs?
Definitions:
Entrepreneurship is the process of running ones
own business or enterprise or company.
People who own, operate, and take the risk of a
business venture are called Entrepreneurs.
Entrepreneurs who own and operate technology
based or engineering based enterprises are called
Technopreneurs.
Samples of Technology/Engineering Based
Companies Founded by Living Pinoy Engineers-1
DMCI Group of Companies by Engineer David M. Consunji, CE
(construction, mining, agriculture, real estate, power, water, etc) US$ 3.9B net
worth

Enertech Systems Industries Inc. (boiler manufacturing) est.PhP2B net

worth, founded by Engineer Guillermo Simeon, A BSME graduate of the
National University
Delta-Star Manufacturing Corp. by Engineer Reynaldo Daquigan,
PEE (transformer manufacturing) est.PhP600M net worth

Danitech Power Systems, Inc. by Engineer Wilson Ulnagan, PEE

(transformer re-manufacturing & substation works) est.PhP200M net worth
Samples of Technology/Engineering Based
Companies Founded by Living Pinoy Engineers-2

Is a PEZA-registered plastic extrusion company

located at the FCIE in Dasmarinas, Cavite, with
about PhP 6.6B annual sales, by Engineer David
W. Lim, the Managing Director. Engineer Lim
was BSEE graduate of U.P. Diliman.
Samples of Technology/Engineering Based
Companies Founded by Living Pinoy Engineers-3
Diosdado P. Banatao (MSCS/MSEE @Stanford U/ BSEE
cum laude @ Mapua), the Father of the Semi-conductor,
a Filipino from Iguig, Cagayan who invented the first 16-
bit microchip, he co-founded high tech Silicon Valley
companies, namely Mostron, Chips & Technologies, and
S3 Graphics.. As per estimates, he is now worth over US$
5B..
 Examples of Non-Technology Based
Large Enterprises
1) Shoe Mart (from a shoe store in Escolta after
WW2 to the giant conclomerate it is now)
2) Jollibee or JFC (from an ice cream parlor in
Cubao in the 80s to become the biggest Filipino
fastfood chain it is now)
3) Mang Inasal (has grown to 300 stores before
JFC purchased majority control a few years
ago)
4) Others..
Why People Become Entrepreneurs
Desire to be ones own boss.
Self-management is the motivation that drives many entrepreneurs.
Desire to succeed financially.
Entrepreneurs are wealth creators.
Desire for job security.
Over the past years, large companies have eliminated more jobs than
they have created.
Desire for an improved quality of life.
Starting a business gives the founder some choice over when,
where, and how to work.
Desire to help others. Transcendence needs the 8th and the highest in
the hierarchy of needs of man (Maslow 1970b).
 Technopreneurship
TYPES OF TECHNICAL
ENTREPRENEURIAL BUSINESSES:
Services (design, consultancy, project management,
construction/installation, preventive maintenance/
repair services, etc.)
Manufacturing (renewable energy, inverters/converters,
transformers, switchgears/ panelboards/ cable trays/bus
ducts, fixtures, appliances, etc.)
Sales (equipment/system, product representation/local
agent, hardware supply/trading, etc.)
 Technopreneurship
CHARACTERISTICS OF SUCCESSFUL
ENTREPRENEURS:
- are independent.
- are self-confident.
- are determined and have perseverance.
-are goal-oriented.
-are creative.
-are able to act quickly/ decisive.
-are achievers and have a need to set high
standards for themselves.
Entrepreneurship as a Career
** More than 10% of Americans run their own business.
** In an average month, Americans start approximately
500,000 new businesses.
** The past decades have shown a heightened interest in
entrepreneurial careers.
**Entrepreneurship has created the likes of Bill Gates,
Steve Jobs, Mark Zuckerberg, Henry Sy, Lucio Tan, John
Gokongwei, Tony Tan Caktiong, Edgar Sia II, among
others..
** People choose entrepreneurship for many reasons,
Dissatisfaction with traditional work
Their ideas fulfill customer needs
 Technopreneurship

SMALL BUSINESSES DOMINATE

THE U.S. ECONOMY
REASONS FOR EXPANDING
ENTERPRISES
1. Globalization
2. Education
3. Demographic & Economic Trends
4. Information Technology
Globalization
 Education
One hundred U.S. colleges and universities
offer entrepreneurship majors.
Universities are helping students launch
businesses.
Many programs teach entrepreneurship to
young people.
Information Technology
Technology has given entrepreneurs tools
that help them compete, i.e, Microsoft
Windows OS, AutoCAD, GPS system, etc.
Entrepreneurs have used information
technology to revolutionize industries, i.e, the
internet, wifi & router systems, the Cloud,
building automation systems (BAS), etc.
Demographic and Economic
Trends
Aging of the population (health care
and wellness enterprises, etc).
Emergence of some ethnic groups as
prominent economic groups, i.e
Tsinoys, Muslim traders, etc.
Growth of two-income families (the
extra earnings needs to be invested).
ASSESS YOUR SUITABILITY
FOR ENTREPRENEURSHIP
* Assess your interests
- Hobbies and interests
- Past experiences
* Assess your aptitude
* Assess the advantages of entrepreneurship
* Assess the disadvantages of entrepreneurship
JOB ATTRIBUTES
CHECKLIST
I enjoy working with numbers.
I enjoy working outdoors.
I enjoy working with my hands.
I enjoy selling.
I like working with people.
I prefer to work alone.
I like supervising other people.
I like knowing exactly what it is I am
supposed to do.
ADVANTAGES OF
ENTREPRENEURSHIP
* Entrepreneurs are their own bosses.
* Entrepreneurs can choose a business
that interests them.
* Entrepreneurs can be creative.
* Entrepreneurs can make lots of money.
* Entrepreneurs can help others.
 DISADVANTAGES OF
ENTREPRENEURSHIP
* Entrepreneurship is risky.
* Entrepreneurs face uncertain
and irregular incomes.
* Entrepreneurs work long hours.
* Entrepreneurs may consult with
others but must make all decisions
by themselves.
IDENTIFY BUSINESS OPPORTUNITIES
AND SET GOALS
GOALS INVESTIGATE
- Recognize different OPPORTUNITIES
businesses you - Internet/ Google
could start. - Library
- Identify your own - DTI
personal goals. - Trade shows
- Exhibitions
COMPARE DIFFERENT OPPORTUNITIES

Is there a market? Will people buy?

How much money would it take? Will I be able to
borrow that much?
How many hours a week are required? Am I willing to
commit that much time?
What are the risks? What is the rate of business
failure?
Do I have the right background? Do others who own
this kind of business have more experience?
How much money could I make?
 SETTING GOALS

* Financial Goals
(e.g., to become a P100M business in 10 years;
to have a minimum P5M net profit annually,
etc.)

* Non-financial Goals
(e.g., to become the standard in electrical
panelboards; to become the leading solar
power installer in the Phils., etc.)
 Creating a Business Plan

58% of the most recent Inc.

CEOs in the U.S. did not create
a formal written plan.
But business plans do help
entrepreneurs prepare enough
resources and stay focused on
key objectives.
 Finding Financing

* Debt Financing
Credit Cards
Family and Friends
Bank Loans

* Equity Financing
Venture Capitalists
Angel Investors
Are there any support from Govt or
Lending Institutions for Entrepreneurs?
ADB - Small and Medium Enterprise
Development Support Project
FINEX-SME Loan portal launched to
help Pinoy SMEs get fund access, 2012
Magna Carta for Small Enterprises -
Republic Act No. 8289 of 2007
Go Negosyo Act of 2013 - REPUBLIC
ACT NO. 10644 of 2013
ADB - Small and Medium Enterprise
Development Support Project

In August 2005, the Asian Development Bank

(ADB) Board of Directors approved a partial
credit guarantee (PCG) facility of P1 billion, a
$25 million equivalent loan guaranteed by the
Republic of the Philippines to the Small
Business Guarantee and Finance Corporation,
and an equity investment of up to $1 million in
a proposed credit information bureau that was
to be established by the government. These
facilities were part of ADBs Small and
Medium Enterprise Development Support
Project.
 Loan portal launched to help Pinoy
SMEs get fund access
FINEX-SME Loan Portal - A new multi-sectoral private-
public partnership initiative was launched in 2012 to help
micro, small, and medium enterprises (MSME) in the
country get access to much-needed funding, considered
one of the greatest challenges of MSMEs in the country
today. Called SMEPlus, the loan portal will provide an
avenue for small business owners to post their funding
requirements for their respective enterprises, which would
then give banks an idea on which financial instruments to
offer MSMEs. The portal aims to address the current
market need to match borrowers to funders and vice-versa,
enabling banks to secure transactions while ensuring that
small businesses get the funding they need.
Magna Carta for Small
Enterprises
Republic Act No. 8289 of 2007

AN ACT TO PROMOTE, DEVELOP AND

ASSIST SMALL AND MEDIUM SCALE
ENTERPRISES THROUGH THE CREATION OF
A SMALL AND MEDIUM ENTERPRISE
DEVELOPMENT (SMED) COUNCIL, AND THE
RATIONALIZATION OF GOVERNMENT
ASSISTANCE PROGRAMS AND AGENCIES
CONCERNED WITH THE DEVELOPMENT
 Go Negosyo Act of 2013

REPUBLIC ACT NO. 10644 of 2013

AN ACT PROMOTING JOB GENERATION AND INCLUSIVE
GROWTH THROUGH THE DEVELOPMENT OF MICRO, SMALL
AND MEDIUM ENTERPRISES

Under the supervision of the Micro, Small and Medium Enterprise

Development (MSMED) Council, a Negosyo Center in provinces, cities
and municipalities encourages public-private partnerships in the
establishment and management of the Negosyo Centers. The Negosyo
Centers are responsible for promoting ease of doing business and
facilitating access to services for MSMEs within its jurisdiction. The
MSMED Council through the regional offices of the Department of Trade
and Industry (DTI) perform oversight functions and assign personnel to
fulfill the functions of the Negosyo Centers.
Starting Your Own Business
** Good timing is very significant to start your own
business.
** When you are winding up a certain project, the next
project could be the start of your own company.
** If that next project has a provision of an initial or
down payment, you may grab the opportunity.
** If you lack the savings or initial funds to start your
business, your options are to:
** Borrow from the banks, with real estate properties
(TCTs) as collateral or security.
** Another option is to use other peoples money
from your friends, colleagues or relatives, backed up by
your good reputation.
Starting Your Own Business
Determine your cost of operation.
A solid business plan is necessary to present to
possible investors which should include your basic
cost of operations and the projected net income. This
will outline and help you determine how much money
is needed to offer your services or products you
intend sell. It includes the production costs, delivery
cost, taxes, workers wages, rent for workspace,
etc. Knowing your cost of operations will be vital to
determining if your business will be profitable or not.
Starting Your Own Business
Determine your potential market.
Be realistic. How many people will realistically use your
services? How much will they pay to use your services? If
either number is too small in comparison to how much it
will cost you to stay in business, then you should
reconsider or change your plans.
If you plan to offer engineering design & consultancy
services, do you know some active architects-planners?
If you intend to offer installation services, do you know
some big or medium sized contractors who may sub-
contract some specialty works?
Starting Your Own Business
Determine impediments.
You have to anticipate for any potential problems of running
your company. Assess the competition; if their market share
or product offering is too strong and stable, then you will
have a hard time breaking in.
There should be no prohibitive costs, like equipment that are
too expensive to operate profitably. For example, Henry Ford
who invented the car worked hard to improve it so that it
would become efficient and cheaper. Also, office automation
was only possible in the late 80s with the introduction of the
micro-computer or PC. The PC paved the way for computer-
aided design & drafting (CADD).
Starting Your Own Business
Create ideas fitting your budget.
If you already know how much money you have,
study the costs of different types of advertising
and come up with ideas which fit those methods
and are effective for the price range. If you have
some funds available for marketing, for example,
you may consider to make a TV or radio or a print
ad. Otherwise, you can think about ways to use the
social media (i.e. Facebook) effectively at very
minimal cost.
Getting Financing - 1
1. Talk with your bank. Talk with a bank
with whom you already have a positive
relationship. Ask about what kind of
business start-up loans they offer and how
they can benefit your business. By using a
bank you already know, the bank will have
easy access to your financial records and
will be more confident in investing with you.
Getting Financing - 2
2. Get local investors. If the bank loans
will not be enough, look into local
investors. There may be a local business
tycoon or other similarly wealthy person
who would have a vested interest in seeing
you succeed. Research people in your area
who may have the funds and motivation to
help you.
Getting Financing - 3
3. Seek venture capitalists or angel
investors. Angels are high net worth
individuals and venture capitalists are
companies. Both fund a promising high risk
venture for a stake (partnership) and often
bring experience, management expertise
and contacts to the table. They usually work
through a network or association.
Getting Financing - 4
4. Approach friends and relatives.
People who know you for a long time are most
likely to have faith in your ability and intentions.
These are also the people who are likely to stand
by you if the going gets tough in the initial stages
of your venture or you need to raise more money.
However, make it clear the money is intended as
risk capital and they might lose it completely or
may not be returned in the short term.
Starting Your Own Business
In selecting the name and logo of your company,
the initials of your name is the most common
option, e.g. if your name is Mark Eduardo Pascual
Santos, you may select any of the following
names:
MEPS Engineering Services Company
MEPS Technical Services Company
MEPS Enterprises Company
MEPS Supply Services Company
MEPS Construction Company
Company Branding or Tagline
Starting Your Own Business
Get an office. You need a space from which to
run your business. This can be a home office if you
require little space and will not have employees
yet, or it can require an entire workshop or
warehouse. Look at renting in a low cost
neighborhood or business incubators instead of a
fancy address. It depends on what you will be
doing and how big you intend your business to be.
Make sure the space is legal for how you intend to
use it and within your budget.
Starting Your Own Business
In selecting the location or office
address of your company, depending
on the initial needs for space of your
initial operation, the common option is
to use a room in your present residence
or in your parents home as the office
address, that is if a rented space is not
readily available.
Starting Your Own Business
Build infrastructure. Purchase equipment.
Acquire all the things you need to start work. This
can mean mechanical equipment, computers,
telephone/ internet line, or craft supplies. It all
depends on what you are doing. Try to purchase
from business supply companies as they will have
significant discounts. If you are short of capital,
lease or rent is an attractive option too, so as not to
block your funds. Another option is to acquire
good second hand office furniture/ equipment.
Starting Your Own Business
Office Furniture/Office Equipment you need:
Telephone line and/or mobile phones
Email addresses/ Internet connection/ wifi
Desktop computer or laptop and/or fax machine
Office tables & chairs/ Filing cabinets
Fire extinguisher
Water dispenser/ coffee maker
Air-conditioner/ electric fan
Transport/ delivery vehicle
other office equipment needs
Starting Your Own Business
Requirements for the registration of a new company
(Single Proprietorship):

DTI Registration
Barangay Permit
Mayors Permit
BIR Registration
SSS Registration
PhilHealth Registration
Pagibig Registration
Starting Your Own Business
Requirements for the registration of a new company
(Partnership or Corporation):

SEC Registration & Articles of Incorporation

DTI Registration
Barangay Permit
Mayors Permit
BIR Registration
SSS Registration
PhilHealth Registration
Pagibig Registration
Starting Your Own Business
DTI & BIR Registrations
Starting Your Own Business
Business Permit/ Mayors Permit
Starting Your Own Business
BIR receipts & Business forms:
Official receipts (OR)/ Sales Invoices/ Delivery receipts
Books of accounts Cash book, Petty cash book, Journal book, Sales
ledger, Purchase ledger, Payroll book
Others: Attendance books, Incoming callers book, Borrowers log, etc.
Quotation form
Transmittal form
BOQ/Cost Estimate form
Canvassing form
Purchase Order form
Letterhead, long and short, with envelope
Business cards/ Calling cards
Starting Your Own Business
Create a records system.
From doing taxes to figuring out why youre
mysteriously missing P5,000 to searching through
customer records to find out if Architect Santos
did in fact paid already, youre going to want a
good records system to help your business run
smoothly and efficiently. Invest in file cabinets,
file folders, labels, plans stick file and digital
records software to keep you organized and on top
of things.
Build a Customer Base
1. Make use of marketing and PR.
You have to reach out to potential customers in
ways that make them want to use your business.
This is especially important when you are first
starting, before you have an established, regular
customer base. Advertise in a way that catches
customers attention at a minimum and hopefully
goes beyond to capture their imagination. Be
creative and appeal to the right aspects of the
customers you want to use your business.
Build a Customer Base
Offer free product samples.
Give free samples of what you do to the right
people, in order to get people saying good things
about what you have to offer. (i.e. free design
services for a new chapel). Word of mouth (i.e.
good reputation) is the best way to attract new
customers. If you get bad reviews or negative
feedback, respond positively and fix the problem.
People will be much less judgmental about
mistakes if youre willing to fix them.
Build a Customer Base
2. Use a little old fashioned networking.
Go to conferences/ conventions, charity galas,
meetings with complementary businesses, join
volunteer NGOs, and anywhere where your
customers are likely to be highly concentrated. In
other words: get out in public and interact with
people. Use your friends connections to meet
people who may be able to help you. This kind of
interaction is very important for starting a
business. You cant exist in a vacuum after all.
Build a Customer Base
3. Have great customer service skills.
Be good at interacting with people. Practice
reading between the lines of what people say.
Learn how to meet needs they didnt know they
had. Figure out how to make people happy. Be
charming. Most importantly, be humble. The
customer may not always be right but you need to
be able to let them think they are. Attend a
customer service training or a sales seminar.
Build a Customer Base
4. Have a website. The world has moved
online. Any business that wants to survive the next
ten years must be going to have its website. People
will use it to contact you, find your location, learn
your operating hours, ask you questions, make
suggestions, and maybe even buy your products or
services. In having a website and services which
are available over the internet, you will be able to
expand your service area out across your region or
even the world.
Build a Customer Base
5. Make a comprehensive company
profile. Even if you have developed your
company website, a hard copy of the resume of
your company is still necessary. In the Philippines,
clients still ask for a copy your company profile as
a required documentation by clients in their
evaluation if they would try to give you some
works or award you a sub-contract job if you are a
service company.
Starting Your Own Business -
Making your Company Profile
Starting Your Own Business -
Making your Company Profile
TABLE OF CONTENTS
Company Philosophy & Objectives
(Mission/ Vision)
The Company / Introduction
Scope of Services and Specializations
Company Registration/Licenses
Financial Statements
Resume of Key Personnel
List of Company Tools & Equipment
Starting Your Own Business -
Drafting your Company Philosophy
COMPANY PHILOSOPHY
Under the guidance of the Divine
Providence, the key corporate values of
FEMP Safety Engineering Construction are:
Its utmost concern for the communities
around and the environment in general, and
a deep commitment to the well-being and
safety of its human resources and their
dependents.
Starting Your Own Business -
Drafting your Company Objective
COMPANY OBJECTIVE
To venture into services and products for life
safety and property protection and preservation,
and to develop its capability and expertise
particularly in cutting-edge technologies for life
safety, in order to enhance the economic growth
and ensure prosperity for the company.

 Starting Your Own Business -

Financial Statements

Talk to your
accountant so that
he or she would
make a very nice
Financial
Statement
Balance Sheet and
a beginning
statement.
Starting Your Own Business
List of Company Assets - 1
Starting Your Own Business
List of Company Assets - 2
Register your Company with
PhilGEPS
PhilGEPS is the Philippine Government Electronic
Procurement System, which is under the office of the
DEPARTMENT OF BUDGET AND MANAGEMENT -
PROCUREMENT SERVICE
Unit 608, Raffles Corporate Center,
F. Ortigas Jr. Rd, Ortigas Center,
Pasig City, Metro Manila,
Philippines
PhilGEPS Administration Office
Telephone numbers: (632) 640-6900.
Typical Partial List of Projects
Bidded by PhilGEPS
Reference No. Bid Notice Title Procuring Entity Publish Date Closing Date

METRO MANILA
Supply and delivery of various El 3/4/2015
1 3055316 DEVELOPMENT 2/25/2015
ectrical Supplies and Materials f 4:00:00 PM
AUTHORITY
or installation of Network Cable
at TEC Bldg. Sta Mesa, Manila

PROVINCE OF
Procurement of Service Drop Wire 3/5/2015
2 3055445 ZAMBOANGA 2/25/2015
s # 2-02-320(O)PEO-Task Force El 2:00:00 PM
DEL NORTE
ectrification Project

BARANGAY
PURCHASE OF ONE ( 1 ) UNIT 3/9/2015
3 3056298 CABANTIAN, 2/25/2015
CONTAINER VAN ( 40 FOOTER 9:00:00 AM
DAVAO CITY
) AT BRGY. CABANTIAN, BUH
ANGIN DIST., DAVAO CITY
Submit Your Proposals/ Bids
P R O P O S A L
Ref.MCC-140607-E
July 13, 2014
To: PHILIPPINE ROPE CO.
2372 CP Garcia St., Makati City

Attention: Mr. Samuel P. Ongsiako Vice President

SUBJECT: PROPOSAL FOR ELECTRICAL WORKS

Gentlemen:
Per your request, we are pleased to submit herewith our updated proposal for
the supply of technical labor, technical supervision, materials, consumables,
tools and equipment, test instruments, necessary to undertake the complete
electrical wiring installation, testing and commissioning of the electrical power
distribution system of the T-Plant Project, in accordance with the attached List
of Materials, the updated design plans including single line diagrams and power
layout plans submitted during the presentation last Tuesday, as follows:
SCOPE OF WORK:
1. Mobilization/ demobilization.
2. Preparation of electrical design, plans, bill of quantities and project timetable.
3. Securing and payment of necessary electrical permit.
4. Installation of additional distribution panels and/or MCCs to complete the
distribution link between the power house/ electrical room and the various
motor loads.

-over-
Follow-up & Negotiate
How to Negotiate Contracts
A contract is a legally binding agreement between 2 or
more parties to uphold terms in a relationship as set forth
by the contract. Contract negotiation involves the process
of discussing and compromising on contract terms in order
to reach the final, approved draft of a contract.
Construction contracts/ sub-contracts must be negotiated in
order to reach terms that are satisfactory to both parties
involved. Follow these guidelines for how to negotiate
contracts.
Negotiating the Contract
1. Identify your objectives for entering
into the contract. Before you start to negotiate,
you need to have a specific idea of what your
desired outcome is. For example, if you want to
lengthen the contract period, then you should
know exactly how long you would like the
contract period to be. Make both a list of things
you will compromise on and a list of terms you are
not willing to negotiate.
Negotiating the Contract
2. Research contract laws/ Consult your
Lawyer. Because contracts are legally-binding
documents, many contract terms are regulated by
the government. Before you go into contract
negotiation, schedule a free consultation with an
attorney who specializes in contract law, or search
online for a legal advice site where you can verify
that the terms of your contract are within legal
parameters.
Negotiating the Contract
3. Prepare for the negotiation.
Get plans, BOQs, estimates and documents that you may
need to back up your negotiation points.
Create a checklist of items that you want to address. When
you negotiate a contract, it helps if both sides agree to this
itinerary before the negotiation session begins.
Set a time frame within which to reach an agreement on
terms. Create a plan for the possibility that both sides
cannot agree on terms within this time frame. For example,
you may agree to schedule a mediation after 2 failed
contract negotiation meetings.
Negotiating the Contract
4. Build trust with those you are
negotiating with. This will help you reach an
agreement faster, and with less resistance and
time-consuming inquisition. To build trust, fully
disclose all of the facts surrounding your contract
negotiation requests, provide documentation of
any facts or figures you use to support your
requests, communicate openly about your interests
and be receptive to the other party's counter-
presentations.
Negotiating the Contract
5. Approach the negotiation with a
positive attitude. This will promote cooperation and
aid both party's openness to mutually beneficial solutions.
In order to speed up the contract negotiations, and to have
a record of exactly what terms you asked for during
negotiations, you may want to create a rough draft of the
contract, with the modifications that you are requesting,
before you go into negotiations. This can help ease
objections for people in the other party, as it also allows
them to see what they would be signing on, rather than just
relying on their perception and interpretation of what you
have to say.
Negotiating the Contract
Warnings!
When you negotiate a contract, avoid trying to
cheat the other side out of a fair deal, or
attempting to trick the other side into agreeing to
your terms by giving them false, inadequate or
misleading information, or by using scare tactics.
This creates an atmosphere of mistrust, and is
counter-productive to reaching a resolution.
Draft The Contract..
Secure your Sales..
Secure a signed
Conforme on
your proposals.
Secure a Notice to
Proceed (NTP).
Secure a Purchase
Order (P.O.).
Collect Payment/ Get Paid - 1
1. Require payment.
Dont let people take advantage of you.
Require payment within a specific window
of time (whatever is appropriate for what
you do). Invoice people or your clients as
soon as you possibly can. If someone is
late in a payment, talk to them. If you
ignore these problems hoping that they go
away, you will find yourself working for
free and your business in the tank.
Collect Payment/ Get Paid - 2
2. Take credit cards. Very few people
consistently pay for products or services with
cash any more. It will be much easier for your
business, as well as records keeping and
accounting, if you accept credit and debit
cards. If you want to save yourself ridiculous
fees or keep your business more mobile,
consider using the Square. This device plugs
into a smartphone or tablet and lets you swipe
customers card.
Collect Payment/ Get Paid - 3
3. Set up a secured advance payment
system. If you plan to have products for sale online
you will need to make sure to set up an accord online
payment system. i.e. in banks BPI, BDO, PNB,
Metrobank, etc. You may also request payments
through Smart Padala, Western Union, LBC, Cebuana,
M Lhuillier, Palawan or other local money courier
systems. Research to find out which method is best for
you. However, make sure that whatever system you use
is secure.
Have a Thanksgiving Event
Depending on your own beliefs, hold a
thanksgiving event. Better still is to have your
office blessed by a priest or a pastor.
It is always a goodwill act to hold this
Thanksgiving event because you can invite
your friends, colleagues, relatives and your
possible clients to partake in your initial
success. Prepare sumptuous food, some wine
and a token for your guests.
Some Business Reminders
1. Money begets money.

2. Two Important Rules in Business:

Rule No.1 - The customer is always right.
Rule No. 2 - If the customer is wrong, go back to Rule
No.1, the customer will always be right.
3. Always strive to do positive things in order to attract
positive karma.
4. In order to ensure continuity of operation of a
company, more kind of products or services should be
developed. Invest in research & development.
Thank you & Good luck!