The Philippine Business Council in association with the University of the Philippines holds its sixth 'Managing for Business Success' seminar (Photo inset left: Professor Art Ilano; Photo inset right: Professor Jo Florendo)
Learning business smarts
For many Filipinos in the UAE, the underlying dream is to save up, go back home, start a business and eventually attain financial independence. But even though many Overseas Filipino Workers have done this before, a huge percentage have also found the path to entrepreneurship very difficult. Eventually, the savings from years of hard work end up in smoke. On the other hand, others have no solid idea where to start realizing their dreams.
This is the reason why 19 Filipinos working across all sectors made a beeline for the 'Managing for Business Success' seminar organized by the Philippine Business Council (PBC) in association with the University of the Philippines (UP), one of the premiere educational institutions for higher learning in the Philippines. The three-day seminar, held at the Crowne Plaza Hotel from September 23-25, is the only seminar certified by UP outside of the country.
Choosing the right business to get into is always tricky, but the discussion of UP Marketing and Strategic Management Professor Art Ilano gave the basics of not only finding the right fit for a person, from franchising to starting an all new enterprise, to branding, expansion and effective marketing. Complemented by the lectures of Joselito Florendo, UP Professor of Finance and Accounting, the participants learned the intricacies of income statements, cash flows and balance sheets. However, Florendo emphasized that though the work can be done by accountants and bookkeepers, it is important for business owners to know how to interpret this data to know how their business is faring.
Philippine Consul General Benito Valeriano attended the closing ceremony and awarded the participants their certificate of completion together with PBC President Lucille Ong, Professor Ilano and Professor Florendo. The 'Managing for Business Success' seminar is the sixth in the PBC-UP seminar series to be held in Dubai and was sponsored by the Western Union Foundation.

Business smarts need not be an innate thing right? We can live and learn. Admittedly I don't focus on the business side of a business (if that makes sense) but the seminar, left me with fresh ideas and inspirations. You cannot just rush into business. You have to think it through. Haha. A point I'm always weak at, I get an idea and I want to implement it immediately else I lose the urgency and the idea will dwindle to, well, something that just seemed good at the time. But I guess I can extend my EQ long enough to really plan something, after all, I have to think long term now, as Master Yoda says. Ah, the price of advancing years.
I do have an idea. But I don't have a business plan. Friends have told me that if I plan to start setting up a business, they will in invest in it. Well, we shall see. The workshop has reminded me that I should also set aside capital for any business I plan on launching. It reminded me to make a business plan. It insisted that I understand how numbers work (argggh!). It has been a good three days. Let's see how far this renewed enthusiasm will get me. Hopefully far.

