Adversities in the Life of an Entrepreneur - Power and Credit Grab

Every generation needs a revolution - an entrepreneurial revolution

Rizal Philippines
December 30, 2016

Today we commemorate the nth death anniversary of who is considered the national hero - Dr. Jose Rizal. His death by firing squad is the greatest adversity a person can meet in his life.

This makes me recall the adversities in the life of a business leader/entrepreneur.  They are the major ones but there are more.

1.  A business partner tells of the sons and daughter of his siblings (whose parents his brods and sis have died) Since they are taking over the shares of his siblings, the different breed have tried to oust him out of the picture.  As of now he represents the corporation in the joint project agreement.   I said that is most unwelcome, since we formed this joint project;  the children had nothing to do with the project.  All they have now are rights of the heirs and their actions are destructive to the unity of their group.

2.  A friend who has a successful party needs business (he has a venue, chairs and tables rental, party packages) put up  burger business. He gave this to his children.   He is making suggestions on how to improve the business.  And he being senior is being set aside.

3. In the companies which I set up so that my brods and sis will not be poor just like the rest of our clan, I was ousted under  Sec. 28 of the CC,  after implementing a bequeath of the estate (equal sharing) the younger ones voted together to remove me from the company which I established. I have not gotten a single cent yet from those companies including a crematorium where I invested wholly my savings.

Thus the seminars and courses of this school on managing conflicts and family business are flourishing.   In a major food company which sells billions, the family feud is intense as I facilitated the presentations of departmental strategies.

There is a group that facilitates formation of family council at a fantastic rate of only $2,000 per day.  That is a great rate if we consider the problem and the friction that it tries to remove from the operations of the family business

The Family feud, Dallas, Falcon Crest are all about this intrigues, power grabs, conflicts in family business

Who decides the fate of your company - you the entrepreneur or the lawyer

Every generation needs a revolution - an entrepreneurial revolution

Rizal Philippines
December 28, 2016

My father is a lawyer, a notary public but was a government employee;  was an admin man and his knowledge of civil code, obligation and contracts, the admin code of the Philippines helped him a great deal in his job.

One time, there was a need for a document and I requested him as a lawyer to make one for us/the company to which he declined.

He said, decide on what you want to agree or do, write it and then, I will correct this if the agreement is in clear legalese.   If you do it the other way around, then the lawyer has decided for you what you will do in the business.

And so I thought, and then later on I read a book on entrepreneurship that you need some 10 or 11 transactions a year that you need the lawyers comment or nod on for you to be prospectively avoiding the problems.  So you need lawyers

And so I tried very hard to stick to this dictum of my late father.  He is right.  The agenda of the lawyer and the entrepreneur are very different.  His goal is to get his fees;  the entrepreneur want to succeed and not to pay the fees. or be engaged in legal battles.

Every time, the lawyer will say that your position is so weak the the worse that could happen is...

I never heard any one say that on a brighter note.... Or strength...

I do not like to hear that when there is a problem, run to the lawyer.... not a good idea.

Obstacles in consolidating a business in an industry, achieving a vision

Every generation needs a revolution - an entrepreneurial revolution

Rizal Philippines
December 25, 2016

Merry Christmas

This is the time to reflect my purpose and goal in life.

I have dream of consolidating the memorialization business under one roof:   place to inter, place to view and a to be positioned in the new wave.  Right now, I seem to be on track:  buying a memorial plan company.  Then to have mortuary agreements, jv with chapels  and lastly to buy into crematorium businesses by a supplier.  Right now, we have made down payment for two crematorium one in Laguna, one in Pangasinan.  The future of memorialization would be in the cheaper, more environmental friendly that does not use too much land needed for housing and agri, -  memorialization. That is my vision.

However, this is not without restraining forces or obstacles:   detractors, lack of resources, difficult people.

Tale for instance my acquisition of a memorial plan company.  We have paid the P5 million premium despite the govt agency still unable to approve the documents needed to sell;   we cant sell anything at all.  The seller of the company is equally difficult -  stalling the granting of authority for us to sell.  But one of the gift of Christmas is to be more patient and loving.

Despite that, I need to have the memorial plan company as a resource to consolidate many businesses:  chapel memorial service, chapel, and cremation.  I will be on my way.  I will be able to hire an accountant, and close mortuary agreements