Today's Issue
- Editor's Take: Relationship 101: A Practical Guide to Sustaining a Good Business
- Article: Tips for the Entrepreneur
- SME Quote of the Month
- Testimonial Callout
- Events: Basic MS Word (Tuesday 16 January), Food Labeling Requirements (Wednesday 17 January), and A Seminar on IT for SMEs (Fridays 19 and 26 January, Fridays 2 and 9 February)
Tips for the Entreprenuer
Risk Management. No matter what the size companies must have an approach to risk management, says Vicente G. Gamo, a certified public accountant and management consultant. Risks to the business can be managed if these are identified, he says. Then entrepreneur can protect the business by:
* Ceasing activity association with risk. For example, SME owners must ensure that personal funds are kept separate from business funds. Personal expenses of family members should not be shouldered by the family business. Ensuring during business trips that management and key personnel do not travel together on the dame plane.
* Transferring the risk to another party. An AME can require a service contractor for a large project to put up a performance bond. An SME can also negotiate for shorter payment periods with their customers who purchase on credit.
To read more, click here!
SME Quote for the Month:
"The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy."
— Martin Luther King, Jr.
Testimonial Callout
For those who want to share their thoughts, just simply send us an email to info@sme.com.ph and place on the Subject header: SME Testimonial. The best testimonial will also be featured in our SME.com.ph Web site.
Editor's Take
The need for strong relationships in the marketplace is vital. Such relationships form the foundation of the best products and practices in any field. On our account, we are pleased to share two encouraging letters from our community partners.
Laura De Bertotto, CEO and creative director of VMV Hypoallergenics has this to say about our service, "Delivering what is promised and sustained customer care. While these seem like no-brainers, there are a surprising amount of Web-related suppliers out there that do not practice these tenets. We went through four of them, and suffered year-long delays in going live, as well as a large amount of irretrievable expenses.
"PDB SME Solutions not only delivered the basics [they actually did what they said they would do, they were upfront about what they couldn't do, and they worked fast], but they've taken their service further: they follow up with us on a regular basis, they monitor technical issues that need to be updated or changed, and they even help us get more exposure by linking our industries ' press efforts or sharing with what they know works in the e-commerce world. Through this, they have effectively shifted their position in our mindset: from supplier to strategic partner."
And a similarly pleased Reggie Bundang, general manager of RegaloService.com, adds: "PDB SME Solutions systemically worked with us in making RegaloService.com
Through the challenges encountered along the way, their thoughts provide us at PDB SME Solutions, the producer of SME.com.ph with fresh inspiration to explore new paths and pursue breakthroughs for SMEs.
We are grateful for sharing your kind thoughts. And for the opportunity to become part of your business success.
Russelle S. Trinidad
SME BizLink Editor
