“Success in investing is not about following the right predictions. Rather, it is about following the right rules.” Alexander Green, a recognized investment Guru.
It was a day of celebrating entrepreneurship and the honoring its partner entrepreneurs as Procter & Gamble Distributing Philippines, Inc. and Puregold held the first-ever VIPuring Convention at Puregold Paseo De Blas in Valenzuela City. The exclusive event was P&G and Puregold’s way of thanking retailers and entrepreneurs for their loyalty and support.
Bestselling author, entrepreneur and financial adviser and renowned business speaker Francisco J. Colayco, began the convention by graciously sharing helpful business tips and insightful anecdotes to highly appreciative Puregold GOLD members at the first ever VIPuring Convention.
The occasion allowed Puregold GOLD members to enjoy exclusive privileges like on-the-day amazing deals and discounts on P&G products. The event also featured talks on how to level up one’s business and provided inside information on local and global business trends. Training was also conducted by both P&G and Puregold on how to best grow their businesses.
Colayco is the chairman and president of the One Wealthy Nation (OWN) bank and hosts the TV show Pisobilities on GMA News TV and Light TV 33.
In his talk, Colayco encouraged the audience saying that becoming a millionaire can be very easy: On the average a Filipino employee who retires only gets P300,000, which is just a very pitiful amount, but if you start saving at least P33 a day–roughly the amount you spend for softdrinks or a pack of cigarettes, or P1000 a month you can easily earn a million pesos by the time you retire.” (This he says will depend on your age and how early you start saving.)
He also shared three important things when starting a business; Passion, commitment and your knowledge in business . “Yung iba tuwang tuwa dahil marami ang benta, pero at the end of the day you should always ask yourself if kumita ka or if you made a profit.”
Colayco then lectured on how to compute your personal worth by using the formula: “Your Age X Annual Income Divided by 10—Less your liabilities and that should be your networth –and if you do not measure up, its probably time to start reaching for your networth.”
“One of the most important things that most business forget is to do the accounting of your business and make sure you keep records—this is where most businesses fail, some are so focused on sales, hindi nila nakikita may pilferage, wrong prices, or they have failed to monitor their overhead expenses.
“DO NOT put all your eggs in one basket!,” he then warned. “You shouldn’t invest all your money in one business, or invest it in jewelry, or land—the principle is not so different as to when you are in a familiar place at night and you do not know anyone, you should have money in your pocket, wallet and in your bag, so if in case you get robbed, you do not lose all of your money in an instant.
There are five Right Rules in business he said;
1. Know where your business stands. Are you a start up? Are you growing? Or has your business reached its maturity. You should know at which stage you are in business so you can make decisions accordingly.
2. Set your goal. How much do you want to earn each month or per year?
3. Strategy. Your business plan should be consistent with your goals.
4. Execute with control over risk.
5. Have long term planning.
Remember: The day you start your business is the day you plan to sell it.
To keep the audience entertained the audience , major highlight of the event was the first-class, VIP broadway-themed entertainment that delighted the audience. Joy Antibac’s The Kitchen Musical medley featured superb performances from thespians Christian Bautista and Karylle.
The Downy Mystique presentation dazzled the audience with Regine Tolentino’s masquerade production number. Olay Total Effect’s The Little Mermaid medley featured the angelic and mesmerizing voice of Nikki Gil, while the Head & Shoulders for Men’s Broadway segment had the audience singing along to Gian Magdangal and Ciara Sotto’s performances.
“The first-ever VIPuring Convention is P&G and Puregold’s way of making top store owners and entrepreneurs know how important they are not just to their immediate communities but also to the country’s economy. We will always be supportive of our partners and we will continue to equip them with the right tools and the right products that will help them grow their businesses,” Raffy Fajardo, Marketing Director of P&G Distributing, Inc., stated.
The P&G and Puregold VIPuring Convention also presented opportunities for GOLD members to win exciting prizes and score great deals and markdowns on select P&G products.
“We plan to have this event as an integral Puregold and P&G tradition so that we can encourage them to do well and excel in their endeavors,” Fajardo said.