The Academy has a unique curriculum in that the 8 week course can indeed put up the foundation that one needs to muster all that strength underneath to start a micro enterprise. The training period is set up using business case study analysis wherein the students learn what has been coined as "Rules of Thumb", which are in actuality, simplified terms of Business laws that will help generate success. Making Financial statements is also an integral part of the education received and also the setting up of a business plan.
Personally, I have been blessed by learning to make business plans, projecting cash flow and income proformas which I have discovered through the years, are mental maps of where a certain business is going. This critical thinking has helped me create ventures in my mind, then on paper, then to reality.
Some of the Rules of Thumb we learned at the Academy are:
Roll your inventory.
The system is the business.
Nothing happens unless someone sells something.
Buy Low, Sell High!
Cash is KING.
A Sale is not a sale unless the cash is in your hands.
Never ever give up.
Pay yourself first.
Separate Entity.
Do not eat your inventory.
Be Nice Later.
Use credit wisely.
Very catchy phrases that stick to your mind and helps you recall, even when you are emotionally wrecked trying to assemble a deal or coming from a distressed cash flow venture. My favorite being "Don't Eat your Inventory." (What's yours Steve?)
Simple phrases that are laws and principles that others have used to gain success.
NOTHING HAPPENS UNLESS SOMEONE SELLS SOMETHING!
ReplyDeletethis is so true! just means that selling skills are fundamental to business success. in fact, the most successful businessmen ive met are also great salesmen! coincidence? i dont think so...
There is indeed no economic action without selling. This is the vital skill that every entrepreneur needs to succeed.
ReplyDeletewow! making money is fun!!!
ReplyDeletehehehe. i love this site too:
Pinoy Money Talk
it has tons of ideas on how to make money...
~the earning student