Sunday, February 26, 2012

Invest an OFW's remittances

I think most of us have the notion that a friend/relative/acquaintance has it better and easier than us. But what we probably do not know is that they have made their own sacrifices in order to be where they are. For example, while salaries in other countries is higher than here in the Philippines, people who go abroad aren't exactly picking up gold bullions but are working hard to hopefully provide enough for their families.

That's why I think it is never a good idea to just depend on remittances and not build a nest egg using those remittances. If possible, set up a business or invest rather than use up the money to buy luxuries that go out of style and don't provide you with a continuing source of income. In other words, have a plan B. Something might happen to the breadwinner, ordinary things like getting old or sick or something, or unexpected things like an accident. And then, where would you be? And of course, you'd want your loved one to be able to come home for good, don't you? So make his/her sacrifice worthwhile.

Saturday, February 18, 2012

General or specialty?

I was looking at the site of WeGotPumps.com goulds pump. They sell all types of pumps and pump accessories. Pumps for the homes too but mostly pumps for various industries, a lot of which I know zilch about. They are a specialist in pumps. They do not offer anything else.

Businesses and professional practices may be general or specialized.  Both have advantages and disadvantages.   Being a generalist is like being a jack of all trades, you have a bit of everything.  The drawback to this is that can't really have an in depth knowledge of any of them.  Specialists, however, know almost everything to know about 1 thing, but not too much about others.

A general store, or a specialty shop? A general practitioner?  Or a subspecialist?  Both could work.  You just have to find which one works better for you.

Friday, February 17, 2012

POS system

I don't have a physical storefront (yet!) but if and when I decide that it's time to expand my online business (http://ethansstore.com), I'd prefer to have a proven Retail POS System in place from the start. That's so I can have a more organized system of keeping records of sales, inventory updates and such.

I come from a family of business people and I've seen how complicated the manual system is. And converting from a manual system to a computerized system midway is even more daunting! I should know, I've been trying to get a good system for my online biz. I'm trying out different systems and getting dizzy in the process! Good thing multiply now has a great system in place so I'm happy. But I need another one to organize everything since not everybody buys from me via multiply. So far sohoos seems promising. If only I have the time to explore it further!

Sunday, February 5, 2012

Back from being AWOL

Gasp.  I've ignored my blogs for so long.  I know the Christmas season was especially busy since December 25 and January 1 both fall on Sundays, but I really did not expect that I would not have time even for blogging. So even if I did see some great deals and tips, whether it's about a new restaurant or about rv repair, I haven't been able to blog about it. Even my family blog and medical blog is way way neglected. So now, my February resolution (since New Year's is over) is to get back into the blogging groove. Keeping my fingers crossed that this will work out!

About Me

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A part time ophthalmologist, part time micro business owner, part time graduate student and FULL TIME MOM struggling to find balance in the confusing world of multitasking :)