Top 10 SME techniques and other 'mini-tips'
By Jimbo Owen B. Gulle, illustrations by Frantz Arno Salvador
from Entrepreneur Philippines Magazine, March 2009
Like most corporate executives, owners of small and medium enterprises (SMEs) guard their business secrets zealously, sometimes to the point of not wanting any publicity for their companies.
Among other reasons for shunning the spotlight, they fear that copycats might steal their proprietary ideas and practices and create rival enterprises that could edge them out of the market.
Among these cautious CEOs is an entrepreneur whose company is one of the best peforming SMEs.
On condition of not being identified, he agreed to share with the new generation of entrepreneurs the lessons he has learned from running his various businesses for many years now.
Here are his strategies:
1. Think long term
As one who had inherited his father's business, he believes that new owners of a business should realize early enough that they will be in it for the long haul.
"To realize profits in a business sometimes takes more than five years," he says. "You have to first prove yourself to your customer before you could even get a foot in his or her door. And even if you find it easy to get in, it could also be easy to get thrown out.Also, you have to be like a chess player, able to think several moves ahead. Being shortsighted is very costly in business."
2. Let your lieutenants run the shop
He believes that although an owner should really know his business inside and out, he should not spend too much time in its day-to-day operations. The company's managers can do this while the owner uses his time- at least a third of his time each day, he says -- doing research and development, thinking of ways to grow the business and to do it better. "Imagine your role as the conductor of an orchestra, creating an ensemble of sound," he explains.
3. Use technology to stay in touch
He says that the business landscape has improved dramatically with the development of mobile technology and the Internet, such that a businessman today can always stay connected, make decisions, and close deals even when he's out of the office. "A CEO can now operate even without a secretary or a physical office, and he no longer needs to type out letters or carry documents with his either," he says.
4. Connections are still important
Even in this era of instant messaging, he says, it's still worthwhile to cultivate friendships and business alliances because it will help a businessman find leads for getting more business. "Before, an opportunity would find a person," he says."Today, you have to find that opportunity, and showing up in person is one way to do it."
5. Try to find the "loopholes"
He says that business before wasn't as elaborate, plentiful, covergent, and encompassing as it is today. "Before, there were a lot of 'pockets' but also a lot of holes," he explains. "Now there are no more holes, because chances are somebody else has already found them."
Where can one find these holes? He suggests trying to look at possible mergers or acquisitions of companies within your industry and finding out where the gaps are in their business, then having your business fill those gaps.
6. Recognize who you are, where you are, and what your abilities are
He says that a businessman shouldn't be so egotistic as to think that he doesn't need other people to help him. A good businessman, he adds, must also learn to be "rational and not emotional, to be focused without losing the big picture, and to be able to fit the 'micro' with the 'macro'." The minute a businessman wants to do everything, he says, his business is as good as gone.
7. Involve people from outside your company
He says this should be done not just in the sense of outsourcing work. For instance, he explains, a businessman can "use" his suppliers as a source of information about how competitors are doing and how the insudtry is moving, and the businessman can also ask salesmen and other middlemen to bargain for discounts or better prices from suppliers or big vendors.
8. Learn to piggyback on your customers' success, but know that loyalty is fleeting
"In business, if a customer slumps, so will you," he says. "There's no such thing as loyalty in today's business world anymore. Before, the attitude ran like this: 'All our suppliers are our partners, so we will support them for the long term.' But for today's customers, no supplier is indispensable. Every contract is up for open bidding, and it applies to all, friend or stranger alike."
9. Cut the middleman and go straight to the source
While this may go counter to his earlier advice about using middlemen as bargaining agents with suppliers, he emphasizes that nothing beats dealing with the other business owner yourself. He explains: "To get the price you want, you can use the middleman as an ally. This is because he or she knows the supplier better than you. But I say that they are only intermediaries, to be used as a 'profit center' while you are still awaiting the final say of the other business owner."
10. To make more profits, watch your margins and limit your waste
He says that this involves more than just cutting costs. For instance, he explains, printing companies often generate a lot of wasted paper, plastic, foil, and other printing materials because they need to allocate a certain width on each sheet of the printing area for trimming. This, he says, is usually considered an acceptable loss and a normal part of the production cost.
But he says that if businesses only learned to reduce that trimming area by even a few millimeters, the saved trimmings "would most likely equal their profit margin." He also suggests that businessmen should also learn how to take small orders to reduce the cost of big orders, which take more time and resources to produce. "So learn how to collect these 'crumbs' to make your money," he says.
Wrapping up the interview with Entrepreneur, he cites the following "mini-tips" as having also helped him succeed in his line of business:
*Service is still paramount, so empower your customer at all times;
*Beating the system is the key to creating your business niche;
*If you acquire things easily, you will likely also lose them easily;
*Price your products and services to your market; and
* Be prepared to take a risk when needed.
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Tips Before Buying Real Estate in the Philippines
Tips Before Buying Real Estate in the Philippines
Here are tips a buyer must remember before buying any property in the Philippines, specially if you are buying a single property from an individual:
1. Make sure the "Transfer Certificate of Title" is authentic. The easiest way to check if the title to the property you are buying is authentic is by getting "Certified True Copy" of the title from the Register of Deeds. This office is usually located at the city or municipal hall where the property is located. Ask the seller of the property for a photocopy of the title -you will need the title number and the name of the owner to get a certified true copy of the title from theRegister of Deeds.
2. Verify that title is clean - meaning the property is not mortgaged (no liens & encumbrances on the property). You can see that at the back of the title with the heading "Encumbrances". This page must be empty if you are told that the title is "clean". But sometimes the space for the technical description ofthe property on the front page of the title is not enough and the description of the property is continued on the "Encumbrances" page, this is of course all right.
3. Make sure that the land described on the title is really the land that you are buying. You can validate this at the Register of Deeds or by hiring a private land surveyor or a geodetic engineer. Land titles don't have any street name and number to pin point a property, it is a must to confirm that the actual property you are buying matches the technical description on the TransferCertificate of Title.
4. Make sure that the sellers are the real owners. If you are buying from an individual property owner, ask for identification papers like passport or driver's license, it is also a good idea to talk to the neighbors or the Barangay Captain to confirm the identity of the sellers (you might as well ask some history ofthe property).
5. Confirm that the yearly real estate taxes are paid. Ask for certified true copies of the Tax Declaration and original Tax Receipts to confirm that real estate tax payments are up to date.
If the above check list is in order, it is generally safe to proceed with the purchase of real estate in the Philippines.
source:http://real-estate-guide.philsite.net
Posted on: Feb 09, 2009, 05:30 AM
Taxes, Commission & Registration
This is the standard sharing of expenses between the buyer and the seller when transferring the real estate property title (tct - Transfer Certificate of Title or cct - Condominium Certificate of Title) to a new owner:
The seller pays for the:
* Capital Gains Tax equivalent to 6% of the selling price of the property. (Withholding Tax if the seller is a corporation)
* All unpaid taxes due (if any).
* Agent / Broker's commission.
The buyer pays for the:
* Documentary Stamp Tax - 1.5% of the selling price or zonal value or fair market value, which ever is higher.
* Transfer Tax - 0.5% of the selling price, or zonal value or fair market value, which ever is higher.
* Registration Fee - 0.25% of the selling price, or zonal value or fair market value, which ever is higher.
Incidental and miscellaneous expenses incurred during the registration process.
The above sharing of expenses is the standard practice in the Philippines. However, buyers and sellers can mutually agree on other terms as long as it is done during the negotiation period (before the signing of the "Deed of Sale").
The "Deed of Sale" or "Deed of Absolute Sale" is the document showing legal transfer of real estate property ownership. The deed of sale is then taken to the Registry of Deeds to be officially recorded after paying the documentary stamp, transfer tax and registration fees. Always verify from the Registry of Deeds the authenticity of a TransferCertificate of Title before buying a property. If the seller only has a tax declaration, be extra cautious and check with neighbours, the Barangay captain or anyone in the know in the community to verify the seller/owner's true identity andthe property's history.
Your Agent / Broker will usually do the registration process (sometimes for a fee), however, all government , taxes, transfer fees and incidental or miscellaneous expenses will be shouldered by the buyer.
Documents needed when transferring the title (tct or cct) to the new owner:
* Certified true copy of the title
* Copies of the Deed of Absolute Sale
* Latest tax declaration of the property
* Certificate from the Bureau of Internal Revenue that the capital gains tax and documentary stamps have been paid
* Receipt of payment of the transfer tax and registration fees
An adapted form of the "Torrens" system of land registration is used in the Philippines. The system was adapted to assure a buyer that if he buys a land covered by an Original Certificate of Title (OCT) or the Transfer Certificate of Title (tct) issued by the Registry of Deeds, the same will be absolute, indefeasible and imprescriptible.
source:http://real-estate-guide.philsite.net
Steps and Procedures of Real Estate
Sale Documentation and Registration
step 1: city/municipal assessor’s office
secure the following:
1. Certified True Copy of Tax Declaration (House and Lot)
2. Certificate of No Improvement (If vacant lot)
2 Original Copies – 1 for bir and 1 for Register of Deeds
step 2 : city/municipal treasurer’s office
secure a tax clearance
*In order to secure a Tax Clearance, Real Property Tax must be updated as of date of document of sale.
step 3: bureau of internal revenue
pay the following:
1. Capital Gains Tax (6% for individual seller or 7.5% for corporation)
2. Documentary Stamps Tax (1.5%)
Note:
*Capital Gains Tax and Documentary Stamps Tax shall be based on Selling Price (per Deed of Sale)
, Market Value of Tax Declaration, or bir Zonal Value, whichever is higher.
*Form for Capital Gains Tax can be secured from the bir or can be downloaded from the bir website http://www.bir.gov.ph
Requirements:
a. Photocopy of Certified True Copy of Transfer Certificate of Title
b. Certified True Copy of Latest Tax Declaration
c. Real Estate Tax Clearance
d. Original and two (2) Photocopies of Deed of
Absolute Sale
e. Certificate of No Improvement from the Assessor's Office if vacant lot.
Additional Note:
a. Payment for Capital Gains Tax and Documentary Stamps Tax shall be in cash or in managers check, to be paid to the bir Regional office or bir-authorized banks where property is located.
b. Capital Gains Tax shall be filed and paid to the bir within thirty days from date of sale.
c. Documentary Stamps Tax shall be paid on or before the 5th day of succeeding month from the
date of sale.
step 4: city/municipal treasurer’s office
Pay the Transfer Tax at the Treasurer's Office.
Requirements:
a. Photocopy of Deed of Absolute Sale
b. Photocopy Transfer Certificate of Title
c. Photocopy of Tax Declaration
d. Photocopy of Real Estate Tax Clearance
*Transfer Fee is 1/2 of 1% of Selling Price or Market Value of Tax Declaration, whichever is higher
step 5: register of deeds
Submit to the Register of Deeds where property is located the following documents:
a. Owner's Duplicate Copy of Transfer Certificate of Title
b. Deed of Absolute Sale (3 copies)
c. Certificate Authorizing Registration from
the bir
d. Transfer Fee Receipt
e. Photocopy of Real Estate Tax Clearance
f. Photocopy of Tax Declaration or if vacant lot, Certificate of No Improvement
a new title under the new owner’s name will be released by the rd
reminder: The owner or the broker as authorized by the owner should be the one to present the above documents to the Register of Deeds because the new tct shall be released only to the presenter of the above documents
step 6: city/municipal assessor’s office
Secure from the Assessor's Office a new Tax Declaration.
Requirements:
a. Photocopy of Transfer Certificate of Title under the new owner’s name, duly authenticated at the Assessor's Office
b. Photocopy of Deed of Absolute Sale
c. Real Estate Tax Clearance
important:
Always bring Certified True Copies of the documents as well as necessary receipts to avoid inconvenience in case you will be required to present them.
« Last Edit: Feb 11, 2009, 04:51 AM by litb »
Taken from:
http://www.pinoymoneytalk.com/forum/index.php?topic=17911.0
Here are tips a buyer must remember before buying any property in the Philippines, specially if you are buying a single property from an individual:
1. Make sure the "Transfer Certificate of Title" is authentic. The easiest way to check if the title to the property you are buying is authentic is by getting "Certified True Copy" of the title from the Register of Deeds. This office is usually located at the city or municipal hall where the property is located. Ask the seller of the property for a photocopy of the title -you will need the title number and the name of the owner to get a certified true copy of the title from theRegister of Deeds.
2. Verify that title is clean - meaning the property is not mortgaged (no liens & encumbrances on the property). You can see that at the back of the title with the heading "Encumbrances". This page must be empty if you are told that the title is "clean". But sometimes the space for the technical description ofthe property on the front page of the title is not enough and the description of the property is continued on the "Encumbrances" page, this is of course all right.
3. Make sure that the land described on the title is really the land that you are buying. You can validate this at the Register of Deeds or by hiring a private land surveyor or a geodetic engineer. Land titles don't have any street name and number to pin point a property, it is a must to confirm that the actual property you are buying matches the technical description on the TransferCertificate of Title.
4. Make sure that the sellers are the real owners. If you are buying from an individual property owner, ask for identification papers like passport or driver's license, it is also a good idea to talk to the neighbors or the Barangay Captain to confirm the identity of the sellers (you might as well ask some history ofthe property).
5. Confirm that the yearly real estate taxes are paid. Ask for certified true copies of the Tax Declaration and original Tax Receipts to confirm that real estate tax payments are up to date.
If the above check list is in order, it is generally safe to proceed with the purchase of real estate in the Philippines.
source:http://real-estate-guide.philsite.net
Posted on: Feb 09, 2009, 05:30 AM
Taxes, Commission & Registration
This is the standard sharing of expenses between the buyer and the seller when transferring the real estate property title (tct - Transfer Certificate of Title or cct - Condominium Certificate of Title) to a new owner:
The seller pays for the:
* Capital Gains Tax equivalent to 6% of the selling price of the property. (Withholding Tax if the seller is a corporation)
* All unpaid taxes due (if any).
* Agent / Broker's commission.
The buyer pays for the:
* Documentary Stamp Tax - 1.5% of the selling price or zonal value or fair market value, which ever is higher.
* Transfer Tax - 0.5% of the selling price, or zonal value or fair market value, which ever is higher.
* Registration Fee - 0.25% of the selling price, or zonal value or fair market value, which ever is higher.
Incidental and miscellaneous expenses incurred during the registration process.
The above sharing of expenses is the standard practice in the Philippines. However, buyers and sellers can mutually agree on other terms as long as it is done during the negotiation period (before the signing of the "Deed of Sale").
The "Deed of Sale" or "Deed of Absolute Sale" is the document showing legal transfer of real estate property ownership. The deed of sale is then taken to the Registry of Deeds to be officially recorded after paying the documentary stamp, transfer tax and registration fees. Always verify from the Registry of Deeds the authenticity of a TransferCertificate of Title before buying a property. If the seller only has a tax declaration, be extra cautious and check with neighbours, the Barangay captain or anyone in the know in the community to verify the seller/owner's true identity andthe property's history.
Your Agent / Broker will usually do the registration process (sometimes for a fee), however, all government , taxes, transfer fees and incidental or miscellaneous expenses will be shouldered by the buyer.
Documents needed when transferring the title (tct or cct) to the new owner:
* Certified true copy of the title
* Copies of the Deed of Absolute Sale
* Latest tax declaration of the property
* Certificate from the Bureau of Internal Revenue that the capital gains tax and documentary stamps have been paid
* Receipt of payment of the transfer tax and registration fees
An adapted form of the "Torrens" system of land registration is used in the Philippines. The system was adapted to assure a buyer that if he buys a land covered by an Original Certificate of Title (OCT) or the Transfer Certificate of Title (tct) issued by the Registry of Deeds, the same will be absolute, indefeasible and imprescriptible.
source:http://real-estate-guide.philsite.net
Steps and Procedures of Real Estate
Sale Documentation and Registration
step 1: city/municipal assessor’s office
secure the following:
1. Certified True Copy of Tax Declaration (House and Lot)
2. Certificate of No Improvement (If vacant lot)
2 Original Copies – 1 for bir and 1 for Register of Deeds
step 2 : city/municipal treasurer’s office
secure a tax clearance
*In order to secure a Tax Clearance, Real Property Tax must be updated as of date of document of sale.
step 3: bureau of internal revenue
pay the following:
1. Capital Gains Tax (6% for individual seller or 7.5% for corporation)
2. Documentary Stamps Tax (1.5%)
Note:
*Capital Gains Tax and Documentary Stamps Tax shall be based on Selling Price (per Deed of Sale)
, Market Value of Tax Declaration, or bir Zonal Value, whichever is higher.
*Form for Capital Gains Tax can be secured from the bir or can be downloaded from the bir website http://www.bir.gov.ph
Requirements:
a. Photocopy of Certified True Copy of Transfer Certificate of Title
b. Certified True Copy of Latest Tax Declaration
c. Real Estate Tax Clearance
d. Original and two (2) Photocopies of Deed of
Absolute Sale
e. Certificate of No Improvement from the Assessor's Office if vacant lot.
Additional Note:
a. Payment for Capital Gains Tax and Documentary Stamps Tax shall be in cash or in managers check, to be paid to the bir Regional office or bir-authorized banks where property is located.
b. Capital Gains Tax shall be filed and paid to the bir within thirty days from date of sale.
c. Documentary Stamps Tax shall be paid on or before the 5th day of succeeding month from the
date of sale.
step 4: city/municipal treasurer’s office
Pay the Transfer Tax at the Treasurer's Office.
Requirements:
a. Photocopy of Deed of Absolute Sale
b. Photocopy Transfer Certificate of Title
c. Photocopy of Tax Declaration
d. Photocopy of Real Estate Tax Clearance
*Transfer Fee is 1/2 of 1% of Selling Price or Market Value of Tax Declaration, whichever is higher
step 5: register of deeds
Submit to the Register of Deeds where property is located the following documents:
a. Owner's Duplicate Copy of Transfer Certificate of Title
b. Deed of Absolute Sale (3 copies)
c. Certificate Authorizing Registration from
the bir
d. Transfer Fee Receipt
e. Photocopy of Real Estate Tax Clearance
f. Photocopy of Tax Declaration or if vacant lot, Certificate of No Improvement
a new title under the new owner’s name will be released by the rd
reminder: The owner or the broker as authorized by the owner should be the one to present the above documents to the Register of Deeds because the new tct shall be released only to the presenter of the above documents
step 6: city/municipal assessor’s office
Secure from the Assessor's Office a new Tax Declaration.
Requirements:
a. Photocopy of Transfer Certificate of Title under the new owner’s name, duly authenticated at the Assessor's Office
b. Photocopy of Deed of Absolute Sale
c. Real Estate Tax Clearance
important:
Always bring Certified True Copies of the documents as well as necessary receipts to avoid inconvenience in case you will be required to present them.
« Last Edit: Feb 11, 2009, 04:51 AM by litb »
Taken from:
http://www.pinoymoneytalk.com/forum/index.php?topic=17911.0
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