Outsourcing is all the buzz in business circles as entrepreneurs look to maximize both productivity and time away from work. But does outsourcing work for or against entrepreneurs in the high touch world of social networking?
Because of the intense overwhelm in entrepreneurs lives, we’re all looking for ways to take things off our plates. You can hire someone to stand in line for you, walk your dog, clean your house, balance your books, pick up your kids from school, have your baby, shop for you, contact your clients, make your appointments… and yes: maintain your social networking sites.
But if successful social networking is built upon relationship building and credibility, how naive do you think the public is when the majority of your “posts” are generic sound bytes?
Think of it this way: if you were invited to an in-person event where you could meet some amazing contacts, would you send your assistant to represent you? Most entrepreneurs (especially solopreneurs and consultants) wouldn’t be able to do this. When you’re representing your company, YOU are the one who makes the impression.
Here’s the start of a big list on the Do’s and Don’ts of Social Networking Outsourcing.
10 Things you CAN Outsource:
1. Short birthday greetings
2. Grouping Facebook friends into mailing lists
3. Inviting people to join your groups (provide a template invite and criteria of who can be invited)
4. Setting up post dated Tweets in www.TweetLater.com
5. Signing you up for all the many social networking sites and uploading your basic bio, photo, URLs, etc.
6. Social bookmarking articles and blog posts
7. Uploading photos, videos, etc.
8. Optimizing photos, videos, etc.
9. Integrating your many social networking profiles with sites like http://www.FriendFeed.com, www.Ping.Fm, or www.Hellotxt.com
10. Making sure your Twitter Tweets pop up all over the place, like on www.Plaxo.com , www.LinkedIn.com , or www.MySpace.com
10 Things NOT to Outsource
1. Any kind of generic “Thanks for the add!” response for people’s Facebook walls.
2. Fake blog comments that are veiled attempts to get people to visit your web site or buy your stuff.
3. Status updates. Do I really need to explain why that is ultra lame?
4. Boilerplate promotions for a class… that you “just happened” to leave on people’s walls.
5. Answering your personal messages.
6. Proposing joint ventures. This can come across as arrogant if not done well. People like to feel special, like you noticed them (not like you’re a royal subject being summoned by the Queen!)
7. Writing on people’s Facebook walls. Once again, it’s super obvious that it’s not you.
8. Any kind of comments (especially the generic ones) on people’s photos, videos, etc. OK, maybe “Nice picture!” is passable, but even that is kind of shallow.
9. Rabid friend acquiring.
10. Recommendations (unless you pre-wrote and pre-approved them) on www.LinkedIn.com .
Tuesday, March 31, 2009
***Social Networking Mindset Tip: Be Approachable!
When you use social networking to market your business, you’ll increase your love for the medium (and profitable results) when you make sure you’re coming across as approachable. Whether you’re outgoing or shy, your approachability quotient will make the difference in your successful connections on sites like Facebook, Twitter, Linked In, and more.
Now take a look at your social networking profiles. Are you approachable or do you project a big brick wall? Do you create the space for people to comfortably want to find out more about you… or are you shutting out prospects and potential JV partners?
Take this list of questions and hold it up against your social networking profiles. If you see anything out of alignment, make a few tweaks then spot what results happen for you.
1. Does your social networking profile “smile”?
Check the language and wording on your profile: is it friendly? Does it make people want to get to know you? Do you use language that invites people in or puts them off? Don’t be afraid to be friendly, A good exercise is to actually SMILE as you write. Seriously, give that a try when you update your profile and see what words flow from you.
2. What does your profile photo say?
A picture speaks a thousand words, and with the quantum power of social networking, your photo is going to be seen by a lot of people! Whether you want something relaxed or posed, it’s important to understand the energy your profile photo is conveying. Use a close-up shot for best results- remember, the actual profile image is going to be quite small and anything farther away than a close up won’t be seen well.
3. When you comment, are you projecting a positive or negative attitude?
How you break the ice with others will set the tone for how people perceive you. If your habit is to complain, then that’s what you’ll get known as: a complainer. (Examples: nonstop complaints about Twitter being down. Endless blog postings about what’s wrong with everything.) If you’re a person who spots the positive and shares with others positive things, then that’s what you’ll get known as. (Hint: go for the positive approach!)
4. Is everything always about YOU or do you leave space for others?
As wonderful as you are, social networking is not the place to grandstand or endlessly self-promote. One of the best ways to raise your approachability quotient is to step out and put the focus away from yourself. Try asking people about THEM… that’s a start!
5. Do you balance the personal and the professional?
One of my “magic secrets” to social networking is to balance the personal and professional, especially in the banter between you and others. Watch for personal-life entry points that can facilitate a stronger relationship (that pays off later on) such as hobbies, sports, movies, favorite TV shows, kids, or other “life” topics.
When you focus on making yourself more approachable on social networking sites, you increase the ability for others to know, like, and trust you. Look over your activities online and see if you could increase your approachability quotient with these handy tips.
Now take a look at your social networking profiles. Are you approachable or do you project a big brick wall? Do you create the space for people to comfortably want to find out more about you… or are you shutting out prospects and potential JV partners?
Take this list of questions and hold it up against your social networking profiles. If you see anything out of alignment, make a few tweaks then spot what results happen for you.
1. Does your social networking profile “smile”?
Check the language and wording on your profile: is it friendly? Does it make people want to get to know you? Do you use language that invites people in or puts them off? Don’t be afraid to be friendly, A good exercise is to actually SMILE as you write. Seriously, give that a try when you update your profile and see what words flow from you.
2. What does your profile photo say?
A picture speaks a thousand words, and with the quantum power of social networking, your photo is going to be seen by a lot of people! Whether you want something relaxed or posed, it’s important to understand the energy your profile photo is conveying. Use a close-up shot for best results- remember, the actual profile image is going to be quite small and anything farther away than a close up won’t be seen well.
3. When you comment, are you projecting a positive or negative attitude?
How you break the ice with others will set the tone for how people perceive you. If your habit is to complain, then that’s what you’ll get known as: a complainer. (Examples: nonstop complaints about Twitter being down. Endless blog postings about what’s wrong with everything.) If you’re a person who spots the positive and shares with others positive things, then that’s what you’ll get known as. (Hint: go for the positive approach!)
4. Is everything always about YOU or do you leave space for others?
As wonderful as you are, social networking is not the place to grandstand or endlessly self-promote. One of the best ways to raise your approachability quotient is to step out and put the focus away from yourself. Try asking people about THEM… that’s a start!
5. Do you balance the personal and the professional?
One of my “magic secrets” to social networking is to balance the personal and professional, especially in the banter between you and others. Watch for personal-life entry points that can facilitate a stronger relationship (that pays off later on) such as hobbies, sports, movies, favorite TV shows, kids, or other “life” topics.
When you focus on making yourself more approachable on social networking sites, you increase the ability for others to know, like, and trust you. Look over your activities online and see if you could increase your approachability quotient with these handy tips.
***Social Networking For Business: It’s Not About Numbers
As internet marketers transition to the fast changing world of social marketing, entrepreneurs are learning that hard-sell and relentless pressure aren’t welcome. The generation gap becomes a profit-crushing divide as “old-school” methods fail to fit in the sleek world of sites like Facebook, Twitter, and Linked In.
In the world of social networking, the hard sell approach is as welcome as “granny panties” in Victoria’s Secret. You certainly stand out when you take the old-school approach with social networking… but it’s not standing out in a good way. You stand out as being outdated and unable to navigate the streams of Web 2.0.
The primary difference you’ll encounter has to do with numbers, but not in the way you may think.
Numbers are crucial to traditional internet marketers, from opt-ins to web visitors to conversion rates. But with social networking the focus on quantity is not nearly as important as the focus on quality. When you focus on quality, you set up criteria that weigh the importance of each contact a little differently.
Here are some tips to consider when connecting with people via social networking sites. You are to use these criteria when building your contacts and investing your time into relationship building:
1. How is this person related to my target market? For example, is this a member of my target market or is she in front of my target market?
2. What do I have that would be of benefit to this person? What can I give (it’s not all about taking, remember!)
3. What is this person’s sphere of influence? Does this person have contacts that I’d like to get to know?
4. Where is this person heading professionally? Do we have similar destinations? Similar goals?
5. Where does this person hang around? Are there groups or sites she is most active on?
6. Do I feel a sense of synergy? Does this person seem “likeable”?
When you examine your internet marketing through a social networking lens, you may first want to resist as it goes against the traditional numbers approach. Numbers are still important, but more importantly are the habits and networks of your contacts.
One incredible contact could yield more business for you than 1000 mediocre misfits.
Take a look at your social networking criteria. Ask yourself if you are focusing on quality or quantity. How do you tell the difference? Use these questions to guide your efforts.
In the world of social networking, the hard sell approach is as welcome as “granny panties” in Victoria’s Secret. You certainly stand out when you take the old-school approach with social networking… but it’s not standing out in a good way. You stand out as being outdated and unable to navigate the streams of Web 2.0.
The primary difference you’ll encounter has to do with numbers, but not in the way you may think.
Numbers are crucial to traditional internet marketers, from opt-ins to web visitors to conversion rates. But with social networking the focus on quantity is not nearly as important as the focus on quality. When you focus on quality, you set up criteria that weigh the importance of each contact a little differently.
Here are some tips to consider when connecting with people via social networking sites. You are to use these criteria when building your contacts and investing your time into relationship building:
1. How is this person related to my target market? For example, is this a member of my target market or is she in front of my target market?
2. What do I have that would be of benefit to this person? What can I give (it’s not all about taking, remember!)
3. What is this person’s sphere of influence? Does this person have contacts that I’d like to get to know?
4. Where is this person heading professionally? Do we have similar destinations? Similar goals?
5. Where does this person hang around? Are there groups or sites she is most active on?
6. Do I feel a sense of synergy? Does this person seem “likeable”?
When you examine your internet marketing through a social networking lens, you may first want to resist as it goes against the traditional numbers approach. Numbers are still important, but more importantly are the habits and networks of your contacts.
One incredible contact could yield more business for you than 1000 mediocre misfits.
Take a look at your social networking criteria. Ask yourself if you are focusing on quality or quantity. How do you tell the difference? Use these questions to guide your efforts.
How to be a Brilliant Conversationalist by Paul Sloane
You probably shy away from some people on social occasions. Their conversations are tedious. You groan inwardly when they approach for you know that they are unremittingly dull company. Equally you may be fortunate enough to know some brilliant conversationalists who can enliven any discussion and who are excellent company whatever the circumstances. In what category would other people place you? How can you improve your conversational skills to become a welcome sight at every party and social event you attend? Here are some pointers that might help.
Ask Questions
Most people prefer to talk about themselves rather than hear about you, so asking questions is a great way to start and to refresh conversations. If you meet someone for the first time, start by asking simple, non-threatening questions about them, what they do, where they live etc. If you know someone moderately well then you should be aware of some of their interests so simple questions about those are good ways to start. As you get to know people better you can ask more searching and interesting questions. For example, ‘What is the biggest challenge you have ever faced in your life?’ or, ‘What is your greatest ambition?’
In a group similar considerations apply. You should generally start new conversations by throwing out questions rather than making statements or talking about things you have done. By asking questions you draw other people in and engage them. It is said that small minds talk about people, moderate minds talk about events and great minds talk about ideas. By all means start the conversation with some small talk but once it is going be prepared to introduce some questions relating to issues and ideas. We will discuss where to get the ideas shortly. Obviously you have to judge the nature of the group first so it is important to follow the second rule.
Listen
Great conversationalists are great listeners. Whether you are with one person or a group listen attentively. People like good listeners – wouldn’t you rather speak with someone who was interested in what you had to say rather than someone who looked bored and indifferent? Also, when you listen you learn. When you are speaking you are not learning anything new. Make a conscious effort to focus on what people say. Show that you are interested by asking questions that support and develop the conversation; ‘What do you mean exactly?’, ‘What happened next?’, ‘How did you feel about that?’
As you listen in a group, observe how people are reacting to the conversation. Are they engaged or ready for a change of topic? Is it time to move up from small talk to something more serious or time to lighten the mood with some humour? By listening and observing you can time your contribution to bolster the current conversation or move it forward to something new and interesting.
Give Compliments
Pay compliments whenever you sincerely can. If someone looks smart or has lost weight or has a stylish new haircut then show that you have noticed by giving a genuine compliment. ‘That colour really suits you.’ ‘You are looking very trim today.’ If they tell you about some achievement - say at work or by one of their children then congratulate them. As a matter of general courtesy and good manners you should always thank and compliment your host. Tell them what a great success the event is and how much you are enjoying it. Pick on some detail that they have chosen for the occasion that you like and tell them how well it has worked or how much you like it.
Keep up to date on topical issues
It is important to keep abreast of key current issues and topics in the news, entertainment, sports and politics. You should be ready to comment with questions, ideas, facts and opinions on the issues that other people are interested in. So see a few of the latest movies, read some of the most popular fiction and non-fiction, read the newspapers, watch the news, keep up with some major sports stories and watch some TV – but not too much. You do not need to slavishly follow every Soap but if someone asks you what are your favourite TV programmes then you should be able to list some popular and serious programmes and justify what it is you like about them.
When discussing serious topics be prepared to oppose the conventional view and to take a rather provocative stance – even for the sake of doing so. This will lead to a more interesting conversation than if you just agree with what is said. For example if everyone is against some political leader, then come to their defence with examples of strengths or achievements. Make your points with conviction, evidence and, if possible, humour. But in a social environment be careful not to become belligerent or cantankerous. In general it is best to avoid really sensitive or controversial topics especially if they risk offending people’s personal feelings.
Be Humorous
There is a place for serious discussion and there is a place for the light-hearted, so be ready to contribute in either environment. Witty comments tend to be spontaneous, clever and unexpected so being witty is not an easy skill to develop but there are some things you can do. Observe witty people in action and see how they contribute. Be bold enough to add your comments and witticisms and carefully watch reactions to see whether you are hitting the right note. Have a stock of funny stories. Do not force them into the conversation but have them ready when you get the cue or when there is a lull. Personal anecdotes relating to unusual experiences and misfortunes that befell you often go down well. Develop and practice some self-deprecating stories. Jokes, quotes and other people’s witty remarks can also be used sparingly and with acknowledgement. But beware of smutty or offensive stories in mixed company. Laugh at other people’s funny stories, even if you have heard them before, but never give away someone else’s punch line.
Enjoy it
Be yourself, be natural and don’t try to be anything that you are not. Approach the situation with a positive attitude and tell yourself that you are going to have a good time and meet some interesting people. Relax, smile and enjoy the occasion. People prefer to mix with the happy and good-natured rather than the grumpy and miserable. By all means have a couple of drinks but not too many or you risk undoing all your good work!
Ask Questions
Most people prefer to talk about themselves rather than hear about you, so asking questions is a great way to start and to refresh conversations. If you meet someone for the first time, start by asking simple, non-threatening questions about them, what they do, where they live etc. If you know someone moderately well then you should be aware of some of their interests so simple questions about those are good ways to start. As you get to know people better you can ask more searching and interesting questions. For example, ‘What is the biggest challenge you have ever faced in your life?’ or, ‘What is your greatest ambition?’
In a group similar considerations apply. You should generally start new conversations by throwing out questions rather than making statements or talking about things you have done. By asking questions you draw other people in and engage them. It is said that small minds talk about people, moderate minds talk about events and great minds talk about ideas. By all means start the conversation with some small talk but once it is going be prepared to introduce some questions relating to issues and ideas. We will discuss where to get the ideas shortly. Obviously you have to judge the nature of the group first so it is important to follow the second rule.
Listen
Great conversationalists are great listeners. Whether you are with one person or a group listen attentively. People like good listeners – wouldn’t you rather speak with someone who was interested in what you had to say rather than someone who looked bored and indifferent? Also, when you listen you learn. When you are speaking you are not learning anything new. Make a conscious effort to focus on what people say. Show that you are interested by asking questions that support and develop the conversation; ‘What do you mean exactly?’, ‘What happened next?’, ‘How did you feel about that?’
As you listen in a group, observe how people are reacting to the conversation. Are they engaged or ready for a change of topic? Is it time to move up from small talk to something more serious or time to lighten the mood with some humour? By listening and observing you can time your contribution to bolster the current conversation or move it forward to something new and interesting.
Give Compliments
Pay compliments whenever you sincerely can. If someone looks smart or has lost weight or has a stylish new haircut then show that you have noticed by giving a genuine compliment. ‘That colour really suits you.’ ‘You are looking very trim today.’ If they tell you about some achievement - say at work or by one of their children then congratulate them. As a matter of general courtesy and good manners you should always thank and compliment your host. Tell them what a great success the event is and how much you are enjoying it. Pick on some detail that they have chosen for the occasion that you like and tell them how well it has worked or how much you like it.
Keep up to date on topical issues
It is important to keep abreast of key current issues and topics in the news, entertainment, sports and politics. You should be ready to comment with questions, ideas, facts and opinions on the issues that other people are interested in. So see a few of the latest movies, read some of the most popular fiction and non-fiction, read the newspapers, watch the news, keep up with some major sports stories and watch some TV – but not too much. You do not need to slavishly follow every Soap but if someone asks you what are your favourite TV programmes then you should be able to list some popular and serious programmes and justify what it is you like about them.
When discussing serious topics be prepared to oppose the conventional view and to take a rather provocative stance – even for the sake of doing so. This will lead to a more interesting conversation than if you just agree with what is said. For example if everyone is against some political leader, then come to their defence with examples of strengths or achievements. Make your points with conviction, evidence and, if possible, humour. But in a social environment be careful not to become belligerent or cantankerous. In general it is best to avoid really sensitive or controversial topics especially if they risk offending people’s personal feelings.
Be Humorous
There is a place for serious discussion and there is a place for the light-hearted, so be ready to contribute in either environment. Witty comments tend to be spontaneous, clever and unexpected so being witty is not an easy skill to develop but there are some things you can do. Observe witty people in action and see how they contribute. Be bold enough to add your comments and witticisms and carefully watch reactions to see whether you are hitting the right note. Have a stock of funny stories. Do not force them into the conversation but have them ready when you get the cue or when there is a lull. Personal anecdotes relating to unusual experiences and misfortunes that befell you often go down well. Develop and practice some self-deprecating stories. Jokes, quotes and other people’s witty remarks can also be used sparingly and with acknowledgement. But beware of smutty or offensive stories in mixed company. Laugh at other people’s funny stories, even if you have heard them before, but never give away someone else’s punch line.
Enjoy it
Be yourself, be natural and don’t try to be anything that you are not. Approach the situation with a positive attitude and tell yourself that you are going to have a good time and meet some interesting people. Relax, smile and enjoy the occasion. People prefer to mix with the happy and good-natured rather than the grumpy and miserable. By all means have a couple of drinks but not too many or you risk undoing all your good work!
***4 Social Networking Tips to “Break the Ice” With Business Contacts
by Nancy Marmolejo, the Official Guide to Social Networking
When you use social networking to market your business, it’s extremely important to keep the focus on relationship building first. People ask how to do this, and the standard advice is to go out and “break the ice” and initiate a conversation.
The problem I’m seeing pop up is that many people don’t fully understand how to break the ice in online social networking. Here’s a real life example: a business coach “Lauren” (not her real name) wrote to me, “OK, I’m on all these social networking sites… now what?”
I suggested she initiate contact by saying hello or commenting on others’ walls. I made a big mistake in this suggestion: I assumed she knew how to properly break the ice with others.
I trailed her on Facebook and found myself aghast at her actions.
On people’s wall comments, she made offers for complimentary coaching sessions. Zero subtlety, just “Hi, nice to meet you. Wanna free coaching session?”
Eeek, my skin crawled. That’s really tacky, I thought to myself. What ever happened to getting to know each other first?
Next, I saw her make a VERY suggestive comment (which I’m sure was in good fun but didn’t play out well in print) to a male social networking contact. Not a good way to get known, I thought.
I’ve been assuming all along that entrepreneurs understood what it meant to “break the ice” and I now realize that isn’t the case. Something happens to people online, where they forget their manners and basic interpersonal skills. I’m now atoning for my assumptions by providing you these 4 social networking ice-breaking tips so you can get to know people without making a nuisance of yourself.
1. Facebook: Comment on a Note
In Facebook, click on the Notes section and check out what your friends have been posting. Look for topics that interest you and people who you’d like to get to know better. When you find an interesting topic by someone, leave a comment on their note. That will open you up to continued dialog while making you more visible. You can also leave a wall message saying how much you enjoyed that person’s note or comment.
2. Ask a question in your status update.
This is a great way to spark dialog and break the ice. I’ve asked about people’s reading habits, favorite social networking sites, and even advice for technical problems. You’d be amazed how many people want to connect and dialog with you. Just write the question and see what happens!
3. Find something to compliment.
Look at the feed (activity on the site) and see if new photos or profile updates have come up. Then go to that person’s wall or photo and leave a complimentary comment. Just sign your name, no other information is needed.
4. ReTweet a post on Twitter
When you’re on Twitter and see something especially useful, type in Retweet @UserName and the original message or link. It will re-broadcast the Tweet to your entire network. It’s a nice act, and nothing breaks the ice better than a little generous promotion of others.
Making new contacts on social networking sites is fast and easy. But after you make the contacts, you need to invest time and patience into developing relationships. By using these ice-breaking tips, you can keep the conversation light and your visibility high while you assess the upcoming opportunities.
Author's Bio
Nancy Marmolejo is a PR, media, and social networking strategist who teaches women entrepreneurs how to generate more money and attention by positioning themselves in the spotlight. An award winning business owner, Nancy is frequently quoted in the areas of business, creativity, and social networking. Get Nancy's 7 part free audio course by visiting VivaVisibility.
Expand Your Biz with Facebook--It's Fun!
by Julia D. Stege, MFA
My husband says it's stretching it to call it, "work."There I am scanning photos from the late 60s saying, "Oh, this one's perfect!" as I upload one to Facebook and tag it with the name of a childhood friend. Or maybe I'm planting a flower on someone's "Little Green Patch," an act that helps save the rainforest. Sometimes I just write a little ditty on what I'm up to and send it out to all 403 (and counting) of my Facebook friends.
Yeah, 403 and more come each day. Sometimes it's a friend from college or high school, or maybe someone from my early childhood, or my current network. A lot of the time they're people I don't know but they find my profile interesting, or they connected with me through one of my websites, or from a Google search. Facebook is one huge community, 150 million and growing by about 10 million per month. I notice my friend requests and suggestions come in by about a dozen per day. This is a great way to let people know what I'm up to, what I care about and to NETWORK!
Facebook is so fun and such a great business tool that I've expanded my upcoming Attracting Perfect Customers Online 10-Week Webinar for Web Challenged Entrepreneurs to include a segment on growing your biz with Facebook. (see my flier for upcoming classes below) You really can do everything on Facebook: create a list, market your offerings, follow up with prospects, post a web page, invite friends to an event, post photos and portfolios, share links. It's quite a robust and amazing social network.
So for those of you who are ready to give it a whirl, here are some Facebook Tips to get you started.
Step One: Get a Facebook account already! Go to http://www.facebook.com and register. Write down your user name and password on a sticky note and post it by your computer so you don't forget it. You can connect with me there if you like!
Step Two: Set up your profile, and upload a photo of you right away. There's nothing as annoying as connecting with someone you haven't seen in a while, and going to their profile only to see that generic blue-boy silhouette. Spend the time to fill out your education and job information. You will be able to find old classmates and colleagues this way. Make sure you post a link to your website too!
Step Three: Have Facebook find your friends. Click on "Friends" and "Find Friends" to have Facebook search through your email account for people you've emailed who are already on Facebook. This is the fastest way to grow your network right off the bat. Once you're connected with friends, check out their friend lists for folks you know and request to be connected. You can also find mentors and people you aspire to be like and connect with them. Facebook makes it easy to create categories so you can sort your contacts.
Step Four: Share yourself authentically. The most compelling thing about you is what is most important to you. Share what inspires you, what you're challenged by, what you've learned. Post your own events and invite people. Create your own page and post notes on your latest discoveries. You never know who's curiosity you'll spark. Maybe your old school chum will show up at your next teleclass! It's happened to me.
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Magical Marketer Julia D. Stege, MFA helps people attract their perfect customers with a unique combination of Law of Attraction, wildly attractive logos and websites, and smart Internet marketing techniques. If you're ready to start attracting your perfect customers now, get Julia's free Magical Marketing Toolkit at http://www.magicalmarketingtoolkit.com
How to Get the Most Out of a Live Seminar
by David Preston
There are many ways to launch your career in marketing.Affiliate sales, list building, free give away events,
public relations firms and the list goes on and on.
It seems that just about everybody is looking for that
"magic bullet" that will launch their business into the
stratosphere. Is there such a thing?
Here are some real examples of the magic bullet some
saavy marketers are using to get off the ground fast.
Live events! If you do it correctly,live events are by
far the weapon of choice for many struggling marketers.
Just one connection at these events can put your business
far past what you could ever acheive on your own with years
of work. Those speaking at the events already have the list,
the connections and the clout to put you on the map fast!
To take advantage of a live event show up prepared. In other
words, have a deal already set up for you or your product
that makes it a real no-brainer to bring some of the big guns
onboard with you. Make it easy to say yes and make it as
"pushbutton" friendly as you can to distribute your product.
Sit down and figure it out beforehand. If you can show up
with that taken care,of you're light years ahead of all the
others clamoring for attention. I've launched many of my
top selling products using this exact strategy.
So in a word, yes! They are worth the price if you're ready.
Income-generating Social Networking
by Menno Spijkstra
Due to effective social networking, many companies are experiencing a more impressive marketing value. This is perhaps one of the main reasons why social networking is being utilized by most companies these days. There are a lot of benefits that this type of networking can bring to your business. However, enticing as it may seem, it is not advisable that you get into marketing in social networks without a full-grasp of the whole business. There is much intricate information that you need to know about this method of marketing. Knowing the basics will help you come out successful by using the right tools and strategies.If you are starting out and trying to make money from famous social networks, then it can be truly helpful if you have a dependable guide in social networking. For newbies, having a guide like this one will give your marketing effort a big leap by teaching you how to maximize your leads, traffic, and profit-capability. Getting tips on successful networking online can be a big relief for many amateur affiliates or perhaps even veterans. To have your own strategies developed will be an additional factor to your possible success in this endeavor.
You must make concrete plan of action for you to execute your strategies efficiently. With thorough planning, you can look forward to satisfactory results. Also, do not be fooled by people who disguise themselves as gurus in networking thru social sites. Be keen at reading reviews of these guides or eBooks prior to purchasing one. For all you know, they could just be selling old and obsolete methods in networking. Choose a networking guide with new and easy to follow system that will make things easier for you and guaranteed to help you profit from social media networks.
You need to spread your wings to other social networking sites and apply similar techniques as you do to other sites. Keep in mind that many individuals are quite loyal to just one social media site. So, make sure to reach out to as many target individuals as you could. There are many popular social media sites that you can engage with. Give extra attention to those sites where your prospective customers would most probably linger. Your personal pages in these sites must be attractive and user-friendly enough. Make it less complicated so that it will be easy for people to browse through it.
Don’t stop from improving your pages and religiously update it with new information. Aside from the looks, the content is very essential as well. Customers will always want something fresh all the time. Furthermore, what sets social media networking apart from other marketing strategies on the net is that, it allows its users to interact with another. Take advantage of this chance to interact with people in your network. Participating in forums or discussions will even enhance your popularity and network scope. Generating income from social networks can be an easier task if you do it right and in a careful manner.
With proper guidance, use all aspects of networking to your benefit.
The Importance of Networking
by Kathy Jo Pollack
Our current economic state presents us with many opportunities – it’s all about how you choose to look at it. My focus has always been on the basics; taking a moment to look at your foundation with an emphasis on finances. Regardless of where you look, it is all about relationships – your relationship with your money, bank, employer, family, and friends.This brings me to the importance of networking, and the value of forming and maintaining a strong circle of contacts. There is no better time than now to strengthen or build your network. A solid network will serve you well for years to come and will be an additional tool in your toolbox especially during these times of economic uncertainty.
Networking includes both internal and external. Internally, be visible at your current job – don’t hide in your office or cubicle. Volunteer for projects and make yourself available. Expand your lunch partners. Meet and talk with new coworkers and continue to communicate with them on a regular basis. Be informed; know where your company is going. You may want to consider brushing-up your skills or broadening your knowledge which leads me to external networking. This can also enhance your current situation. An easy way to do this is by joining a professional organization within your field. Network by regularly attending the meetings, meeting new people, and benefiting from the information and knowledge presented through seminars and speakers.
Keep in mind that networking is not easy for most and can even be painful. Tip: To help ease your apprehension, consider arriving early at a meeting when there are fewer people or invite a colleague to attend with you. Then, take your membership to the next level by becoming a board member or chairing a committee. This opens many new doors and looks good on your resume.
Also, consider joining an online professional network such as LinkedIn. You can add your professional memberships/organizations to your profile for added visibility. Invite your contacts to join and continue expanding your network with updated information.
Final tips: always exchange contact information or business cards and follow-up. Start and maintain a database of the contacts in your network that includes their name, email address, phone number, as well as how, when, and where you met with any additional pertinent notes to help jar both your memory as well as your contact’s memory. Continue adding to this database and make it a point to keep in touch with any appropriate news or possibly pass along an article of interest.
It is all about relationships. Build them and keep them strong. Working together is much easier than going it alone.
Copyright © 2009 Kathy Jo Pollack
Five Steps to Creating a World-Class Social Network in Any City
by Dr. Alex Benzer
One of the secrets to success in life is having a web of friends and associates. I’ve moved around a fair amount in my life, and one thing that my friends have noticed is that I quickly get to know a large number of people within a short time after moving to a new city. In fact, it seems that I know more people within days of my arrival in a new city than most of my friends who have lived there for years.How does this work? And how can you can learn and use this yourself? It certainly helps to have an outgoing personality. However, if you implement the following steps, you stand to get results in leaps and bounds beyond what you have been getting so far. The following protocol works especially well if you’ve just landed in a brand-new city, knowing hardly anyone at all. If you’ve lived someplace for a little while, you just have to pretend like you’re a newcomer and implement the same steps.
Step 1: Have an attitude of openness and interest
First, it’s important to internalize the key determinant of your social success: an attitude of openness and interest. People tend to find interested people interesting. If you show genuine interest in the people you meet, they tend to reciprocate by showing genuine interest in you. Also, an attitude of openness generally works better than one of “I wonder what I can get out of this person.” If spiritual law says that the world tends to reflect your attitude back to you, then if you approach a person thinking how you can enrich the person’s life, you tend to get that back in return.
Step 2: Honor all invitations
An invitation is an act of humility. Someone has opened his door and heart to you and has requested your company. Honor that. An invitation is a gift in an intangible form and should be treated with the same amount of reverence and consideration that a tangible gift merits.
Let me elaborate a little bit on what I mean by accepting all invitations. The event could be anything: a birthday party, a dinner, a baby shower, a professional networking event, a gallery opening, a free event, or a pay event. Show up. There will be times when you don’t know the host very well. Show up. There will be times when the event seems a little too far away. Show up—you just never know who else is going to be there and what could happen. Get the machinery of fate in motion. At other times you may feel that you won’t know many people at the event. That means you should show up—if you avoided meeting strangers, you’d stay in your living room for the rest of your life. Remember that there are only two kinds of people: friends and future friends. And if you said you would show up, show up, even if you don’t fully feel like it at the last minute. Be impeccable with your word because your word is your honor.
Of course, there will be times when you have conflicts and can’t attend the event, and that’s acceptable. Decline politely, express your regrets, and do your best to attend the next event.
Step 3: Honor all contacts
Now that you’ve shown up, you’ll speak to a variety of people. Some may not initially catch your attention. That’s okay—honor the contact anyway. If you speak to someone, no matter how briefly, exchange contact information with that person, making sure to get his or her e-mail address. Each friend you make increases your potential for meeting even more people, so be inclusive. Nobody has enough friends, and you’re no exception.
Step 4: Follow up on all contacts
Now you have e-mail addresses from a bunch of people. Most people wait until there’s something pertinent to contact that person about. And 99 percent of the time, that means they will never contact that person again. Not you. You will send a note to all the people that you meet within 48 hours of meeting them. I prefer to do it the day after, just because that way I know I’m not missing anyone, and I’ll remember them well. If you wait a week, you will usually forget entirely, and after that they may not remember who you are. So do it the next day. It doesn’t have to be anything fancy—just say it was nice meeting them, mention something about your conversation, and close by saying that you look forward to keeping in touch.
Step 5: Give back
Now that you have accepted all these fabulous invitations, it’s time to issue some of your own. The absolutely best way to do that is to host an event. You have compiled all the contacts you have made over the past few months into an e-mail list, and now you will send them all a witty invitation. For a big party I like to have at least 120 invitees (about a quarter will show up). For a dinner party I invite about 40 to get 10 guests. I like to throw my parties on a Saturday night to maximize attendance since many professionals are too tired to party on a Friday night. I recommend four weeks’ advanced notice for your event (and two weeks at the absolute minimum). That way, people can block out that Saturday evening beforehand, and you get priority over any other events that may be going on that night.
Your party will be a reflection of who you are, so have a compelling theme. The more you make people dress up and do things for the event, the more compelling your event will be, and the more likely it will be that they will show up. An interesting aspect of human psychology is that the more effort people have to put in to attend your event, the more committed they will be to attending, and the more they will enjoy it once they show up. Two concurrent themes are even better than one. One of my most successful events was when guests were asked to dress in pajamas and bring a funny poem.
So be open, show up, meet, follow up, and give back. Like everything else in life, the more you participate and give, the more you can expect to meet new people and expand your social circle.
** This article is one of 101 great articles that were published in 101 Great Ways to Improve Your Life. To get complete details on “101 Great Ways to Improve Your Life”, visit http://www.selfgrowth.com/greatways2.html.
Osmeña: Need for urban renewal service
Antonio V. Osmeña
Estatements
HOUSING problems, no doubt, differ in magnitude and intensity in various regions, areas and communities in our country.
But, no matter where one looks, the problem can be traced to one or more of: 1) the existence of neighborhood blight and slums and their effect on community housing, health, and safety; 2) inability of low income family groups to secure adequate and decent housing facilities, and; 3) lack of organized home financing, facilities, policies and practices for the urban poor.
Today, a significant further shift in population is under way from the rural areas to urban areas as households seek for better economic gain. This condition of “flux” in urban population is responsible for most of the more serious housing problems which Metro Cebu cities have been unable to solve.
The present global economic meltdown is due to the collapse of the subprime mortgage sector in the United States that began when many families—whose credit track record were considered risky—were enticed to avail themselves of “easy” home purchase plan. In the end, many of these families lost their home to foreclosure proceedings.
Too often it is not the initial cost but the “upkeep” that causes the amenities or pleasures of home ownership to end in
financial grief.
Unfortunately, there are special groups or interests that stand to benefit from these unsuspecting homeowners, and their active advertising appears to support the impression that the homeowner can “have his cake and eat it, too.”
Yes, home ownership has merits, but it would constitute grave folly to urge it on each and all – although the means are available – unless the principles of home ownership can reasonably be applied.
There is now a need for urban centers in Metro Cebu to create an Urban Renewal Service, whose initial role is to obtain technical and other professional aid for the preparation of local slum clearance programs. This body should also legislate and appropriate a sum of money for developing, testing and reporting of slum prevention and slum elimination techniques.
To this end, it is necessary for a local community to create a housing authority that can obtain grants up to two-thirds of cost, provided these studies will be valuable in solving urban renewal problems. Thus, the local housing authority shall provide 100 percent insurance on mortgages for low-cost housing to families displaced from urban renewal areas.
There is also an urgent need for the Home Guarantee Corp. (HGC) to prioritize its involvement in establishing an “enabling” legislation for a private corporation to acquire land in slums—with the power of eminent domain—and put up a 100 percent insurance from HGC against mortgage failure.
The local housing authority would then have slum areas cleared and improved with modern, but simple, apartment buildings to house the displaced as well as low-income groups.
Under such legislation, the local housing authority would exercise control over rentals, design, density, location and the method of selecting tenants.
To guard against occupancy by unqualified persons, the following criteria should be imposed: 1) a family must not earn in excess of the maximum income set locally; 2) the authorities must make a written report to be published in local newspaper showing that incomes of families admitted are within the limit; 3) the authorities must re-examine the income of all tenant families periodically (“tenants” refer to families who cannot afford to own the unit but prefer to rent the premises instead), to adjust rents if necessary and to evict those families whose incomes have risen above the limit.
The local housing authority should be criminally liable if there is flagrant abuse of the law, evidence of affluence among public housing tenants/owners, political suberfuge, use of public facilities for private gain, and if there are instances of subsidy to the kind of people who are deemed least deserving as public beneficiaries.
Perhaps the most controversial issue is one that concerns low-rent public housing (apartment style units). For this form of amenity, the housing is erected with public funds, owned and operated by government or an instrumentality of government, such as a municipal housing authority.
The entrepreneurial leadership of Cebu’s business leaders, specifically the Cebu Chamber of Commerce and Industry, should be able to come up with the necessary financial grants for the local housing authority to operate.
The Art of Intuitive Networking®-The New Paradigm for Building Relationships
by Erfan Hettini
You probably have heard the term”the size of your network determines the size of your net worth”. Now if you are an online business owner, you’ve heard it “the money is in the list”. With that said, both online and offline business owners realize that building a network is essential to sustaining a viable business in the long haul. Every successful entrepreneur ever existed got there, by first building a loyal network of clients and friends that led him/her to an increasing number of opportunities and influence. After all, it’s not who you that matters, it’s who knows you. The Art of Intuitive Networking differs greatly from the methods of Traditional Networking in many ways, and is a great deal more effective.The traditional and prevalent networking method you see taking place at events and business seminars is based mostly on the Law of Numbers and Averages. The traditional networker is usually handing out his/her business cards like a sales person on the roll to meet a sales quota with minimal human bonding. Typically, the effects of the psychological pressure that manifest on the traditional networker’s demeanor as neediness, and stiff body language. Not to mention, feeling drained, and exhausted like you’re climbing a mountain, are all the outcome of networking with the mindset of a sales person. While networking the traditional way can produce some random and sporadic results, it will for the most part reduce your efforts and time to nothing more than a pile of collected cards of warm leads.
Intuitive networking is an art that builds a rolodex that’s ultra-responsive, warm and ever –expanding, in a way that’s effortless, joyous and has real-human connection at its cornerstone. Its success depends on implementing five different factors in the following order-Mindset, Attitude, Clarity, Intuitive Action, and Acts of Service.
Here’s an explanation of the five success factors of Intuitive Networking that you must use to build a Golden Rolodex, which will enrich your life with many rewards beyond your imagination.
1-Mindset: Always come from a place of abundance, giving and service first, not from a place of selling or qualifying potential clients, when approaching people.
2-Attitude: Check your attitude to make sure you’re turned on positive; no one wants to connect with a grouch, except for negative people.
3-Clarity: Be clear on your intention. What goal are you seeking to accomplish before you go to an event. What answers and solutions are you searching for?
4-Intuitive Action: Be open to possibilities and make a declaration that you will connect with all the souls that you’re supposed to connect with, and with the highest good for all parties before you enter the event. Then, relax and just go about your business without actively looking to connect with anyone and you will intuitively attract to you the right connections. Listen to your heart and it will tell you where to go and when to act.
5-Acts of Service: When you connect with someone, think of ways you can help that person accomplish his/her goal without expecting anything in return. Not only it’s a very rewarding experience, but you’ll initially make new friends and later clients, and very possibly for life, if you’re consistent at follow-up and keeping in touch.
©2009, All Copyrights Reserved, Erfan Hettini
Australian investor plans MBA school venture
By Ehda M. Dagooc Updated April 01, 2009 12:00 AM
CEBU, Philippines – To help address Cebu’s problem on mid-management manpower shortage concerning the Business Process Outsourcing industry, an Australian investor is currently in talks with local businessmen for an International MBA school venture.
Michael Burdette, chairman and director-finance for Tech Growth Solutions Cebu Inc., said that he is currently negotiating for an International MBA School here to enable Cebu to produce that ample supply of managers and supervisors needed by the BPO sector.
Burdette added that he is willing to invest in a school facility that will also tap international MBA instructors in partnership with existing universities or colleges here.
“Cebu has huge potential for BPO investments, compared to other places in the Philippines, like Manila. Cebuanos are intelligent, hardworking, and your tech sector is good,” he said stressing that an MBA school will further boost Cebu’s edge as BPO investment magnet.
He added that his current investment here in Cebu, which provides backroom services for clients all over the world, is meant for long term, which is the reason why he is serious in working with local traders to fund or put up a world-class MBA school here.
For his company alone, he said Tech Growth Solutions is aiming to hire 2000 employees in the next few months, with a compensation package ranging from P10 thousand to P200 thousand a month.
The friendly disposition of Cebuanos is one of the province’s greatest assets in terms of attracting BPO companies, including the strong support of local government units (LGUs), good infrastructure, and relatively good supply of entry-level manpower.
“We don’t have problem in hiring entry level people. But, just like other BPOs, we have difficulties in hiring supervisors, and managers,” Burdette said.
Tech Growth Solutions offers backroom outsourcing services such as bookkeeping, business planning, business strategy, telemarketing, among others.
Burdette spent about 1 million Australian dollars for its Cebu facility located at Cebu Asiatown IT Park, and is bent on spending more for the expansion of the company’s operation here.
He said, although Cebu is a very attractive site for BPO investment, there is something that the province should take into serious consideration, which is in putting more efforts in marketing Cebu as BPO destination all over the world.
Honestly, he said the international market does not know about Cebu. If the province will be promoted very well, there is a good chance that big BPO companies even those that have facilities in India, Thailand, Sri Lanka, will decide to transfer here.
“There is something you have to change. Start an aggressive promotion about Cebu. The international market doesn’t know Cebu. Optimize the online marketing tool, capture the huge BPO market, there are a lot of choices out there—India, Thailand, China, Sri Lanka, and others,” Burdette said in an interview.
Currently, Tech Growth Solutions is providing outsourcing services to companies based in Australia, New Zealand, Venezuela, United States, Canada, United Kingdom, France, Belgium, and others.
*** Article: Mistake Salad - By Alan Cohen ***
A mother seeking to inspire her young son to progress with his piano lessons took him to a concert by the famed virtuoso Ignacy Paderewski. After the two took their seats, mom noticed a friend a few aisles away and went to chat with her.
When mother returned, she discovered her son was missing from his seat. She began to search for him, but he was nowhere to be found. Suddenly the house lights dimmed, the curtains parted, and a spotlight shined on the gleaming Steinway piano on stage.
There, to the woman's horror, she saw her little boy sitting at the keyboard, innocently picking out the notes to "Twinkle, Twinkle Little Star."
Embarrassed beyond words, she began to rush to the stage to retrieve her mischievous little musician. Before she could get there, however, the great piano master emerged from a stage wing and approached the child. Paderewski leaned over and whispered in the boy's ear, "Keep playing." Then he reached his arms around the boy's and added a bass part with his left hand. With his right hand, Paderewski improvised a running obbligato. Together, the seasoned master and the young novice turned a potential disaster into a triumph that inspired everyone.
Are you so sure your mistakes are just mistakes? Or could they be building blocks to a success beyond any you imagined?
When my friend, Dorothy, goes home to visit her family each Thanksgiving, her mother serves the traditional "mistake salad." The dish was born many years ago, Dorothy explains, when mother was using a cookbook to make a salad. In the process, mother accidentally included half the salad ingredients from a recipe on the left side of the open cookbook and half the ingredients from a different salad recipe on the opposite page. Everyone enjoyed the salad so much that she continued to serve it every year. So it was really no mistake at all.
Then there was the fellow named Alfred, who invented dynamite. When Alfred's brother died, the city newspaper confused the two and printed an obituary noting that the deceased's most notable act was the creation of the explosive, subsequently adapted to manufacture bombs. Stunned to consider that his name would forever be associated with destruction, Alfred sought to leave a more positive legacy to humanity. So he instituted a prize for people who contributed to world peace. Now the Nobel Prize, established by Alfred Nobel, is the most coveted and respected award in the world.
Everything is part of something bigger, and mistakes are no exception. Every minus is half of a plus, waiting for a stroke of vertical awareness. In his brilliant book, "Illusions," Richard Bach explains that every problem comes to you with a gift in its hands. If you focus only on what went wrong, you miss the gift. If you are willing to look deeper and ask for the insight, the problem dissipates, you are left only with the learning, and you advance on your path.
Gallup conducted a poll asking people what was the worst thing that ever happened to them. Then the pollsters asked the same people what was the best thing that ever happened to them. The surveyors found an 80% correlation between the worst and best experiences. Four out of five people reported that the worst thing that ever happened to them turned out to be the best.
A Course in Miracles tells us, "It takes great learning to understand that all things, events, encounters and circumstances are helpful." The Course also notes that trust is the bedrock of a true master's belief system. Trust implies faith that there is a wiser plan afoot than the one that meets the eye. Only the inner eye, the insight of higher wisdom, can make sense out of apparent human error.
We all make mistakes, and plenty of them. Enlightenment does not ask you to be perfect; it simply asks you to be open to a bigger picture that embraces your humanity while rising above it. True perfection has space for imperfection. Think of your life as a grand mosaic. When you examine your acts with a magnifying glass, you see many flaws. Step back, and you discover that every little piece has an important place in a grander design. It is our belief in mistakes, and dwelling upon them, that makes them seem more real than eternal love.
Within you is a child who wriggles off into unacceptable places. Also within you is a Paderewski, a master who knows how to transform child's play into a masterpiece. You can regret your errors, and those of others, or you can honor them. At the very least, mistakes are opportunities to practice forgiveness. At the most, they are invitations to acknowledge perfection. Ultimately, real forgiveness means seeing good where others find fault. A friend is someone who sees through you and still enjoys the view. You become your own best friend when you do the same.
Have a nice day & Happy Selling :)
Realtor SAMUEL LAO, REBL#1341
PAREB-Cebu Realtor's Board Inc. (2nd VP Elect,2009)
RealtyOPTIONS Marketing & Consultancy Inc.- President/CEO
Tel Nos: (+63 32) 5166194 / 2550374
Mobile: (+63 918) 9236123 / 0922.8236123
www.laosamuel.com
www.laosamuelmls.blogspot.com
PAREB-Cebu Realtor's Board Inc. (2nd VP Elect,2009)
RealtyOPTIONS Marketing & Consultancy Inc.- President/CEO
Tel Nos: (+63 32) 5166194 / 2550374
Mobile: (+63 918) 9236123 / 0922.8236123
www.laosamuel.com
www.laosamuelmls.blogspot.com
Sunday, March 29, 2009
FLI holds titles for 2 hectares
Monday, March 30, 2009
CEBU CITY -- Speaking for the first time about the joint venture controversy, a Filinvest Land Inc. (FLI) official said they only have titles to a two-hectare portion of the South Road Properties (SRP), and not the entire 10.6-hectare Pond F that they purchased.
FLI officials, however, remain optimistic about their joint venture with the Cebu City Government and are confident that their project “will generate thousands of jobs and billions of pesos worth of business and other revenues both for the city and the Province of Cebu.”
Despite the Capitol officials’ attack on the joint venture agreement, FLI assured that the people of Cebu province, and not just the city, will be the primary beneficiaries of the deal.
Criticisms from the Capitol are seen as an offshoot of the conflict between the city and the province over another matter.
“We have faith in the business-friendly reputation of the local government and we are confident that the city and provincial officials will see the value of attracting investments during this economic slowdown as a means to pump the local economy,” said FLI vice president Tristan Las Marias.
In a press statement e-mailed to Sun.Star Cebu, Las Marias denied reports that the title covering 10.6 hectares of land has already been transferred to the name of FLI.
The titles for a two-hectare lot turned over by the Cebu City Government earlier this month is in exchange for the P348-million down payment of FLI, which supposedly allows them to get titles for up to 2.32 hectares of land.
Las Marias said FLI guarantees to pay a total of P1.5 billion to the city in the first three years.
The titles for the remaining 8.6 hectares of Pond F properties will be turned over to FLI on an installment basis or at two hectares per year, and only after it has turned over payment equivalent to the value of a two-hectare portion.
“We have received titles to only 20,000 square meters, which corresponds to the P348 million that was paid. Based on our P15,000-per-square-meter purchase price, the equivalent area to be turned over should have been 23,200 square meters,” said Las Marias.
He also pointed out that FLI purchased lots at the Pond F area for P15,000 per square meter, or P4,000 more than the approved minimum bid price of the Commission on Audit (COA).
Earlier, Mayor Tomas Osmeña said FLI officials are already worried and are affected by the Capitol officials’ attack on the joint venture between the city and the province.
FLI, he said, has built over 150,000 housing units across the country, and this is the first time that they are being accused of entering into an anomalous deal.
Governor Gwen Garcia and her brother, Representative Pablo John Garcia (Cebu, 3rd district), earlier said that officials of this city and FLI could be sued for plunder for the irregularities in the deal.
They also proposed a House inquiry to look into the details of the contract.
“We wish to highlight that the FLI deal is aboveboard, which is typical of any deal it undertakes…. Filinvest has paid the City of Cebu an initial payment of P348 Million. This amount, together with the balance of the P1.1 billion payments, plus the proceeds from the 40 hectares from the joint venture, will far exceed the approved price per square meter of COA for all the parcels involved,” Las Marias said.
He further said that FLI’s bid complied with all the Terms of Reference of the bidding for the joint venture to develop a 50.6 hectare portion of the SRP over a 20-year period.
The contract has an outright purchase component covering 10.6 hectares of beachfront lots, and the joint venture activities on the 40-hectare properties along the South Coastal Road and other interior lots.
Las Marias also said that FLI’s investment at the SRP will reach P25 billion for the entire duration of the 20-year joint venture contract.
FLI intends to build a landmark development on the 10 hectares, which it will develop to become an attraction to further enhance Cebu as a primary tourism destination in the country.
FLI is now working with international master planners and architects to finish the master plan and fast track the development of a 40-hectare mix-use and residential complexes, which they said, will enhance Cebu’s role as the educational, medical and trade center of the Visayas.
Las Marias said that with a reported asset of P53.2 billion and equity of P38 billion as of December 2007, FLI is still committed to pursue the SRP project despite the Capitol’s attacks.
“We wish to emphasize that FLI is a Cebuano company and its intention is to help its fellow Cebuanos by investing in the SRP and contributing to its development as a booming center for tourism, trade and commerce. FLI wants to give back to the Cebuanos by giving them job opportunities, more tax revenues, and quality developments that the Cebuanos can all be proud of,” he said. (LCR of Sun.Star Cebu)
Government sees P50-billion tourism investments until 2010
Updated March 30, 2009 12:00 AM
MANILA, Philippines - Some P50 billion worth of tourism investments, mostly hotels and resorts, would be opened in the country this year until 2010 despite the global economic crisis, according to President Arroyo.
Mrs. Arroyo said the tourism and business process outsourcing industries in the Philippines are among the dollar-earning sectors least affected by the global recession.
She said the tourism industry is growing by an average of 10 percent annually in the last several years and that she expects to inaugurate or open new multi-million dollar hotels and resorts almost monthly in the next two years.
Tourism Secretary Ace Durano said more than 20 hotels and resorts are opening this year with a total of 2,089 rooms and a value of P50 billion.
“P50 billion is just the value of the properties but if you look at the total value of the tourism investment that came in from 2005 to 2007, that’s about P550 billion,” Durano told reporters.
He said the figures tallied were those from investors that sought fiscal incentives from the government.
“These are multi-billion development projects. Those with less than a billion (pesos), they don’t go to us (Department of Tourism) because they don’t apply for fiscal incentives so what we have counted are the big tickets because they apply for incentives, but the smaller ones, the boutique developments, they don’t come to us, so we don’t even count them in our number of rooms opening up,” Durano said.
He cited the groundbreaking of the international resort chain Banyan Tree of its project in Palawan last week. From an initial $70 million, the company decided to triple its investments to $240 million.
He estimated that more than 8,000 rooms would be available in the next three years.
He said many tourism development projects in the world, including in the region, are put on hold “but in the Philippines, they’re still very gung-ho because they’ve seen our performance in the past five years.”
“They’ve seen the potential for growth in the field now, so when the markets recover, they are already there to take advantage,” Durano said.
He said: “Despite the adverse developments going on, it’s one of the sectors that is still expanding in terms of investment and employment.”
Mrs. Arroyo said international five-star hotels are also set to open in Metro Manila, Cebu and other key cities in the country including the Marriott, Imperial and Raffles hotels.
She said she will immediately sign the Tourism Bill once it reaches her desk. She said the bill would “codify” what the administration is already doing to strengthen the industry, including extending incentives.
Durano said the tourism industry is one of the biggest job generators in the country. He said for every room, a hotel would employ one worker at the minimum. But for five-star to six-star hotels, it goes as high as five employees per room.
He said this is only in terms of direct investments and not counting workers hired by suppliers of the hotels. – Paolo Romero
5-8% drop in remittance
| Written by Cai U. Ordinario / Reporter |
| Sunday, 29 March 2009 21:42 |
 THE World Bank estimates an overall 5-percent to 8-percent drop in remittances by migrant workers to their respective countries as an effect of the global financial crisis. In its Migration and Development (MD) Brief 9 released recently by the bank’s Development Prospects Group Migration and Remittances Team, the bank revised its projections downward in light of the decline in the bank’s growth projections for 2009 and said their estimate may even be higher than what may really happen. “We have revised our forecasts for remittance flows to developing countries in the light of a downward revision to the World Bank’s global economic outlook. We now expect a sharper decline of 5 percent to 8 percent in 2009 compared with our earlier projections,” said World Bank lead economist Dilip Ratha in a blog post. “This decline in nominal dollar terms is small relative to the projected fall in private capital flows or official aid to developing countries. However, considering that officially recorded remittances registered double-digit annual growth in the past few years to reach an estimated $305 billion in 2008, an outright fall in the level of remittance flows as projected now will cause hardships in many poor countries,” he added. Both low-income and middle-income countries are expected to see a similar decline of about 5 percent in remittance inflows in 2009. Developing countries like the Philippines will also post significant declines in remittance growth until 2010 and show a slight recovery in 2011. With the low case forecast, the Migration and Remittances Team said developing countries will post contractions until 2010. In 2009 the MD Brief data showed that remittances will post a contraction of 8.2 percent and in 2010, a contraction of 0.2 percent. Remittances will only post positive growth of around 3.2 percent in 2011. However, the exact figures for the Philippines also vary since under the forecasts for East Asia and the Pacific, remittances will post a contraction of 4.2 percent in 2009, while positive growth of 1.9 percent and 5.6 percent could be seen in 2010 and 2011, respectively. In the low case forecast, countries in the East Asia and the Pacific will post a contraction in 2009 of 7.5 percent and 2010 by 1.3 percent. However, by 2011, remittances are seen to grow 2.1 percent, lower than the average for developing countries. Ratha cautioned, however, that if the effect of the crisis on migrants will be worse, the 5 percent to 8 percent estimated decline in remittances could drop because of the unpredictable movements of exchange rates. Ratha said if the exchange rates of remittance sources continue to weaken relative to the US dollar, it would also result in an even greater decline in remittance flows to developing countries. Further, Ratha said weak job markets in destination countries could also lead to tightening of immigration controls, thereby reducing remittances sent to destination countries because of lesser deployment of workers. The net effect of these reduced remittances is to put more pressures on developing countries. “It is almost certain that in many developing countries remittances will become even more important as a source of external financing as private flows dry up,” said Ratha. In 2008 the Philippines was fourth among the world’s top five recipients of remittances with P18 billion. The others were India, first with $45 billion; China, second with $34 billion; Mexico, third with $26 billion, and Poland, fifth with $11 billion. |
Inflation-targetting has served RP well, BSP says
| Written by Jun Vallecera / Reporter |
| Sunday, 29 March 2009 21:44 |
| Monetary policy crafting under the inflation-targeting mode has served the country well, enabling the economy to grow on sustained basis each year while stabilizing prices, the Bangko Sentral ng Pilipinas (BSP) said on Sunday. According to BSP Governor Amando M. Tetangco Jr., recognition by global credit rating firm Standard and Poor’s on the impact of inflation targeting on money and credit developments in the Philippines, for example, may be seen in its decision affirming the country’s credit outlook as “stable.” “The current credit-rating outlook on the Philippines by S&P as stable is supported by our healthy external liquidity position, effective monetary policy engendered by the strong discipline of inflation targeting, as well as a stable and sound banking system that has, so far, withstood the current global financial turmoil,” Tetangco said in an e-mail. Most other sovereign regimes that include some of the most advanced economies of the world have received either a downgrade to their basic credit standing or unfavorable change to their credit outlook in the months following the US subprime-mortgage meltdown that has thrown the global economy into recession. Manila, on the other hand, has maintained its subinvestment status as a double B negative-rated country (BB minus) under the S&P system of sovereign credit ranking where the triple A plus, or AAA+, is the highest possible rating. The triple B grade, or BBB, is considered the minimum grade or threshold alerting potential creditors that a particular sovereign is a good borrower. Manila adopted the inflation-targeting approach to monetary policy in 2002 when inflation averaged just 3 percent from 6.8 percent a year earlier. This approach requires the BSP to announce in advance the likely path of inflation over a two-year stretch and crafts monetary policy on this basis instead of setting goals on the basis of monetary aggregates like in the past. According to Tetangco, this approach has allowed the BSP to ensure “appropriate [domestic interest rate] levels” and help make possible “the even distribution of liquidity in the system for the efficient functioning of credit markets in support of economic growth.” This basically pertains to the reduction in policy rates a total of 125 basis points since December last year that made possible the cheaper cost of credit and hopefully greater economic activities consistent with sustained growth. This cumulative reductions made possible the entry of an estimated half-a-trillion pesos worth of liquidity, helping fuel growth this year seen ranging from 3.7 percent up to 4.4 percent in terms of the gross domestic product, according to Tetangco. He said this much money entering the financial system was made possible not only because they cut the central bank’s policy rates but also because of such other measures as the threefold increase in the BSP’s rediscounting budget to P60 billion, the 2-percentage-point cut in the banks’ deposit reserves that released another P60 billion plus the positive liquidity impact of the US dollar-repurchase facility. Tetangco said such normally inflationary measures have been carefully calibrated to push local output within target this year, and thus far the numbers show these have been gobbled up by the various economic players all wanting to achieve higher output against a backdrop of the global economic downturn. |
A.D.B. warns Asia of recession risks
| Written by Cai U. Ordinario / Reporter |
| Sunday, 29 March 2009 21:45 |
| Despite the resilience shown by many Asian countries, there is still a high probability these countries, including the Philippines, may still experience recession in the face of severe financial downturns in advanced economies, according to the Asian Development Bank (ADB). This was among the key findings in an ADB working paper titled “Crises in Asia: Historical Perspective and Implications,” a joint study by South Korean Ewha Womans University Prof. Kiseok Hong of its Department of Economics, ADB Economics and Research Department officer in charge Jong-Wha Lee, and ADB Office of Regional The paper stated the probability of an Asian recession is 14 percent conditional on an Organization for Economic Cooperation and Development (OECD)/United States (US) recession, and 24 percent on a severe OECD/US recession. “Our results also support the strong links between Asian economies and the global economy. Severe financial downturns or recessions in advanced economies are often associated with financial crises or recessions in Asia,” the paper stated. “Given the severity of the current global crisis and financial downturns, the risk that many Asian economies will experience a deeper recession is high.” The paper stated that on average, recessions and financial downturns are more frequent, longer lasting and more severe in Asian economies than in OECD countries. The paper also stated that the likelihood and severity of a recession tends to increase when it is associated with a financial crises, such as credit crunches and stock-market crashes. The authors said the probability of an Asian recession is also 19 percent conditional on stock price decline, and jumps to 52 percent conditional on a stock-market crash. The probability of an Asian credit contraction is 63 percent and stock-price decline is 88 percent conditional on a stock market crash in the US. The study stated that of the five occasions where the US real gross domestic product (GDP) per capita contracted by more than a cumulative 10 percent from peak to trough, the 1929–1933 Great Depression stands out. This resulted in a US real GDP per capita contraction of 29 percent, Indonesia 11.4 percent, Malaysia 19.3 percent, the Philippines 13.4 percent, and Singapore 41.2 percent. The biggest declines were recorded, however, during World War II, in the vicinity of 50 percent for most Asian economies, and lasted between five to nine years, though not strictly triggered by the US recession. |
Gloomy H1 forecast but no recession
| Written by Erik de la Cruz / Reporter |
| Sunday, 29 March 2009 21:46 |
| Indicators point to a gloomy first half even with the Philippine economy expanding by as much as 4 percent this year. The government’s growth target is 3.7 percent to 4.4 percent. Banco de Oro Unibank (BDO) and Bank of the Philippine Islands (BPI) are sticking, however, with their forecasts the small expected growth will keep the economy out of a recession even with electricity sales down in the first two months and as exports and imports continued to drop, suggesting a steep contraction in both external and domestic demand. The Metropolitan Bank & Trust Co.’s (Metrobank) research team agrees, but it has come up with a bit less bullish growth forecast of 3.4 percent for the country’s gross domestic product (GDP). “The Philippines, so far, has been more fortunate than other countries in avoiding the worst effects of the ongoing [global] recession,” said Jonathan Ravelas, chief market strategist of BDO. “I think I can be a little bit more upbeat in my prognosis than in the past.” In the Philippines, he added, “financial stability is now being regained and market confidence gradually being restored.” Philippine stocks rallied strongly last week, with the key index gaining 11.25 percent or 206.35 points from the previous week to breach the 2,000 level for the first time this year. Investors snapped up bargains for eight straight sessions, encouraged by a strong rally in US stocks amid renewed optimism on Wall Street the world’s largest economy will soon recover from recession. The peso has trimmed its loss this year to 1.4 percent from 2.6 percent in the first two months, as investor appetite for risks improved. “Despite the highly unfavorable global economic scenario, BPI remains positive that the Philippine economy will be able to ride out the present crisis and deliver a respectable, albeit more moderate, pace of economic growth,” the bank said in a regulatory filing submitted ahead of its annual stockholders’ meeting on Tuesday. BPI is also keeping its GDP growth forecast of 4 percent, saying “the structural reforms in the fiscal, monetary and banking sectors implemented in the past, the lesser dependence on merchandise exports and the expected resilience of remittances should help cushion domestic demand.” While the biggest local banks remain upbeat about the domestic economy, many foreign investment banks have scaled down their growth forecasts for the Philippines as the global crisis deepens. The International Monetary Fund, which has further revised downward its global growth projections for 2009 to 0.5 percent from 2.2 percent that was announced in November, is sending the signal that global conditions have worsened. The fund now expects the world economy to contract and enter a “Great Recession” this year. Singing the same tune, some economists predict another gloomy quarter ahead following a “rough” first quarter for the domestic economy. “It is best that business strategists prepare for the worst during the first half of the year,” said a team of economists from First Metro Investments Corp. (FMIC) and University of Asia & the Pacific (UA&P) in a joint monthly report. In the March issue of The Market Call published by FMIC, the investment banking arm of Metrobank, the team said the global recession has turned out worse than earlier expected, as reflected by the mostly negative numbers that have emerged from the usual indicators. According to the team, sales of Manila Electric Co. in January and February show year-on-year declines of 9.9 percent and 2.7 percent, respectively. Merchandise exports in January were down 41 percent from year-ago level while imports—the bulk of which account for raw materials for electronics exports—dropped 34.5 percent. Still, there were some positive signs for the economy, the team said, citing the slight 0.1-percent growth in remittances of Filipinos working abroad in January and a 1.7-percent rise in total employment. And despite the drop in electricity sales, it said consumption spending appeared to be still holding up well as sales of the fast-food chains were “relatively robust,” especially in February. Data gathered by the team from real- estate firms, which were focused on the low- to medium-cost markets, also showed improved sales for the same period. “Nonetheless, the two sets of information, and the increase in employment would tell us that while there was growth in the first quarter, it was likely to be clearly lower than the 4.5-percent increase posted in the fourth quarter of 2008,” the FMIC-UA&P team said. The team predicts GDP growth in the second quarter to remain below 4 percent but not lower than 3.5 percent given the push on consumer spending from remittances. |
De Castro to delinquent housing borrowers: Apply for loan restructuring
| Wednesday, 18 March 2009 21:21 |
 Borrowers with delinquent loans from any government financing institution (GFI) or housing agency may now have a sigh of relief. They may now apply for loan restructuring and condonation under a new program that aims to save their homes from foreclosure. Vice President Noli “Kabayan” de Castro, chairman of the Housing and Urban Development Coordinating Council, made the announcement as the Socialized and Low-Cost Housing Loan Restructuring Act of 2008, or Republic Act 9507, took effect on March 16. The law, signed by President Arroyo in October last year, covers home borrowers and installment buyers of the Government Service Insurance System (GSIS), the Social Security System (SSS), the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund, the National Home Mortgage Finance Corp. (NHMFC), the Social Housing Finance Corp. (SHFC), the Home Guaranty Corp. (HGC) and the National Housing Authority (NHA), whose original loan accounts do not exceed P2.5 million and are in arrears of at least three months. “This was created to help those borrowers who have fallen behind on their mortgage payments and are in danger of losing their home because of financial difficulties,” de Castro said. The program eases the borrowers’ burden by condoning all accumulated penalties and surcharges that have been imposed from unpaid amortizations. It also allows the lending GFI or government agency to condone a “reasonable portion” of the unpaid interest, the amount or percentage of which shall be determined by the respective boards of the lending institutions. “This is a provision that was not present in previous loan restructuring and condonation programs, where only penalties are condoned. This gives leeway to the lending GFI or agency, without jeopardizing their long-term financial stability, to further reduce the financial burden on the borrowers,” de Castro said. The remaining accrued interest shall be paid in equal installments during the term of the restructured loan without any interest. The unpaid principal of the loan shall be imposed an interest rate not higher than that of the original loan, or 12 percent, whichever is lower. To further lower the monthly amortization, the payment period of the restructured loan may be lengthened up to a maximum of 30 years from the approval of the application, without exceeding the borrower’s age of 70. Borrowers who promptly pay their loan amortizations may also be given incentives, such as reasonable discount on interest, to be determined by the GFI or housing agency. De Castro hailed the program as a benefit for both borrowers and lending institutions, “especially in this time of economic downturn.” “On the one hand, it saves borrowers from having their homes foreclosed and joining the ranks of the homeless. On the other hand, the GFIs and lending agencies can get their nonperforming loans moving again and improve their cash flow,” he said. Interested borrowers may contact or visit the office of the GFI or housing agency that granted their loans for more information on how to avail themselves of the loan-restructuring and condonation program. |
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