Westmead International School

Alangilan, Batangas City

Bachelor of Science in Business Administration

Magazine: Entrepreneur, Eat and Drink (August 2014)

- Article: Price point, Create value for your products and services to get
………. the price you want.
- Article: Customer First, Know your startup - and customers - inside out
………..Written by, Ann Jacobe

Magazine : Entrepreneur, How to go from good to great (November 2013)

- Article: Pitch Perfect, State your Business in three minutes or less

- Article: Wages War, Three ways to determine your own salary

Magazine : Entrepreneur, Meet the Giant Slayers (August 2015)

- Article: A Proper Send-Off, Let your employee go to right way

- Article: Foreign Flavor, Written By Toni Antiporda

Banal, Kristal Anne A.

…….BSBA 211

Mrs. Marites D. Manlongat

Instructor
 Price Point
Create value for your products and services to get the price you want

Pricing could spell the success or failure of any business. Entrepreneurs often
look at their competitors in setting their price, But Michael Hurwich, President of
strategic pricing Management Group, a pricing strategy and training firm that helps
businesses spur profit through pricing and value positioning,, debunks this practice.
Value -based pricing is the way to go, he says. We sat down with Hurwich for his take
on pricing. --- Bernadette Reyes

Price point consists of, what are factors to consider when pricing products and
services? , How do you create value to set the price you want? , What are the common
mistakes entrepreneurs make when it comes to pricing? , What are the challenges for
Philippines SMEs in pricing?

The factors that consider when pricing products and services are cost, customer,
positioning, competitors, and profit. When creating value to set the price you want, you
should evaluate what the customer looks like, conduct a segmentation exercises and
how much price pain they can take. And the common mistakes entrepreneurs make
when it comes to pricing are entrepreneur are very impatient people, they start
discounting to generate more business. And another mistake is, when they think that all
the market is [their] customer. And lastly the challenges for Philippine SMEs in pricing
are they communicate what they are selling rather than asking customers what they are
buying. It might be they are looking for specific quality or specific level of service. If they
are looking for those elements, then you can craft and design your pricing strategy
around it.

I therefore conclude that Pricing could spell the success or failure of any
business. Entrepreneurs often look at their competitors in setting their price. A sound
pricing structure helps companies generate sales and build customer loyalty. The wrong
pricing structure can leave businesses struggling to service customers and reach
profitability. And there is the best way to know what the best for the company sake is.
 Customer First
Know you startup - and customers - inside out

As an entrepreneur, you have to live and breathe your business. According to

Ann Jacobe that she learned a lot of things over the years, particularly in the field of
tech-based businesses like Youphoric Labs. The most important lesson involved
customer validation – finding out if it make sense to build a business out of what your
customer wants. Going through this process before investing resources in a venture
save me from a stem of wasted time, money and effort. Customer validation helped
Anne Jacobe to determine a strong business model for her business. She said that
once you get in the bag, you can figure out the business model that will guide you in
scaling your business. And it also said that you can take a risk but you have to make
calculated ones. Always have plan B and C, because Plan A may not work out.
Business is a battle it won’t hurt if you have workable tactics at the ready.

Establishing yourself is a mix of trials and errors. But for Ann Jacobe, it was
always about giving it all your all and taking risk. It’s not easy, especially when you’re
just running your startup on limited budget. It’s all boils down to you knowing what your
business model really is. When you know what you’re about and why you’re doing it,
your target market will love and trust you.

Entrepreneurs are to do customer validation before taking the big plunge. Create
a working prototype and get firsthand feedback from your prime movers.

I therefore conclude that always have plan B and C, because Plan A may not work out.
Business is a battle it won’t hurt if you have workable tactics at the ready. Unfortunately,
organizations that put the customers at the center of what they do are rare. Meet the
best customer-focused outfits, and learn from them.
 A Proper Send-Off
Let your employees go the right way

One of the hardest task you may have to undertake as an entrepreneur is to fire
an employee. But there are many occasions that may require you to do so: New
technology or outsourcing may mean restricting; so could a merger or a takeover. In
times of crisis, you might need to downsize, and retrench personnel.This article has the
content about know your responsibility, be transparent, Offer a plan B and help your
people, help your brand.

“Know your responsibility”, if a company will undergo retrenchment or restricting,

the department of Labor and Employment must be notified- supportive organizational
and financial studies included- at least 30 days in advice. According to Josephus
Jimenez Retrenchment and retracting are not interchangeable. Laid- off employees are
entitled to separation pay, paid accumulated benefits and leave credits, and 13 th month
pay. “Be transparent”, according to karmeli Love Kintanar, vice president for business
services of KSearch Asia Consulting Inc. Inform your workers early, Well –informed
employees take it well, he also says that the bottomline is caring for other people the
management should help them to move forward. “Offer a plan A”, according to Jimenez,
the company offered discharge worker the option is becoming product distributors. If
you cannot provide alternatives for your employees, he suggest availing of
outplacement companies provide career-coaching services, so individuals can transition
more easily to a new job or business venture. “Help your people, help your brand”
according to Kylayko, Social responsibility start with your own employees, nothing that
layoffs affect retained employees, the proper laying off procedures also helps maintain
reputation and branding. If retrenchment is not handled properly and people were kept

I therefore conclude that one of the hardest tasks you may have to undertake as
an entrepreneur is to fire an employee. But there are many occasions that may require
you to do so. Let you employee go the right way. Know you responsibility, be
transparent, Offer a plan B, help people and help your brand.
 Foreign Flavor
Do you have what it takes to own a foreign franchise?

Filipinos are no strangers to foreign brands. I’ve seen the success of fast – food
heavy weight such as McDonald’s and Kentucky Fried Chicken (KFC), even fashion
retailers such as Uniqlo and H&M here. In many case, these brands come in with a
local, partner, as they want to work with someone who knows the market are familiar
with the Filipinos buying habits. If you’re looking to bring in a brand from overseas, it
pays to know what your potential partners will look for.

It takes “Check Motivation” according to Christopher Lim, senior Vice President

for Marketing and Strategy at Franchise consultancy Firm Francorp Philippines, that
before setting things in motion, you need to assess what motivates you to bring in a
foreign brand. “Compare Options” according to Lim he suggest that in choosing a
foreign brand, it going against more obvious choices. What’s more important is to look
at different options that are in keeping with what your strengths and interest are. “Meet
demand” Given that it will be a long term partnership, go for a brand that you believe in
and has a product or service that you know will work in the country. “Leverage
Experience, Referrals” According to Dargani, While selling the Philippines as the next
market opportunity for the brand might help, ultimately it is a foreign franchisor’s
confidence in your capability t develop the brand in your territory that will seal the deal.
According to Dagani, You have to convince them that you have the capacity and the
drive to develop the brand in the area. “Learn to localize” Lim says that just because a
brand is successful abroad doesn’t mean that it will automatically be successful here.
According to Lim, you need to do a lot of localization, not necessarily in the products,
but in the system.

I therefore conclude that Filipinos are no strangers to foreign brands. An

assessment of your motivation, as well as your capacity to support the development of a
foreign brand in your territory, is needed to know if you have what it takes.
 Pitch Perfect
State your business in three minutes or less

Every ‘trep must master the elevator pitch – a quick spiel that runs for three
minutes at most, approximating the time it takes to ride an elevator. It could clinch that
partnership deal for investor relationship, recruit the talent that strengthen you team, or
convince you customer to buy your product.

Pitching competitions and networking events, including “hackathons” (tech start

up events), provide start up with ample opportunity to state their case. How do you
make that perfect pith? Lean from those who had been there, than that…

This consist of, “Be direct: What’s in it for them?” According to Peter Paul
Cauton, It include three things: the problem and why the person you’re talking to should
care, the solution your offering and what differentiates it, and why he should choose you
over competitors. He also said that always try to think of the context, there a science to
it, you have to understand and read the context, read people and situations. “Hook
first”, “Make it a team effort” according to Jay Albano, Interim chief finance officer of
pagesnapp Inc., It helps if you if you colleagues pitch in when needed, it can be nerve-
wracking specially when done in public. Every member should know how to pitch so that
if the person assigned falters, some else can take over. He also said that getting
feedback is also helpful.

I therefore conclude that to start a business it consist many things. It takes time
to have a business. For doing a business, you must be direct, hook first, you must make
a team effort, and every member of the team should master the pitch. You must practice
well for doing business it includes time and effort. Recruit the talents that strengthen
your team.
 Wage Wars
The ways to determine your own salary

Jason Bussanich runs Westlake Chiropractic in Lake Oswego Origon. His wife, Kyra
owns crave Bake Shop, a popular gluten- free bakery. They work hard, and their
businesses do well, but you wuldent know it from their meager pay checks. He says that for
the two years I ran the business, she didn’t take a dime, even now I take just enough to pay
my household bills. Her accountant says that she could pay herself more, But Kyra would
rather reinvest her business.

Jason faces similar issues. He feel guilty if I don’t put money back into the business,
he in on his second year now and I’ve been paying myself less than my employees so that I
could afford a recent remodel and new equipment. If you’re in the trenches of running your
own business, this couple’s predicament likely comes as no surprise. There are ways to put
money in your pocket and grow your business consider this methods, “Pay yourself what
you’re worth”, Amanda K. Larrinaga, a serial entrepreneur based in Denver. She set a
salary for herself. If she can cover anything she holds of in her salary but mark is a debt the
business owns. But he quickly adjusts to pay her cost. “Make every month a bonus month”
according to Debbie Dragon Co-owner of Valley View, many business owners pay
themselves whatever’s left at the end of the day. She pay all of the business- related
expenses each month, set a side ponds for taxes, and then the rest is salary. “Pay yourself
the absolute minimum” If your business is in growth mode, any new company’s default,
consider paying yourself just enough to cover our mortgage or rent, car and household
expense. But be sure you’re working toward a plan to pay yourself. If your business model
doesn’t include a line item for your salary that grows along with your company, it’s not a
realistic model.

I therefore conclude that here are ways to put money in your pocket and grow your
business consider this methods, “Pay yourself what you’re worth”, “Make every month a
bonus month”, and “Pay yourself the absolute minimum”. But be sure you're working toward
a plan to pay yourself. If your business model doesn't include a line item for your salary that
grows along with your company, it's not a realistic model.