If you say you’ll pay in 30, pay in 25

Manila Times - - Sunday Business & I.t. - HAND­OUT PHOTO

IT sounds so sim­ple, but it makes all the dif­fer­ence. Keep­ing your word is good, but over de­liv­er­ing is al­ways golden, es­pe­cially in mat­ters of money and the heart.

The cen­ter of busi­ness is peo­ple. Most en­trepreneurs tend to miss out this fact as they fo­cus on strate­gies velop­ers in the Philip­pines, he told me the one key fac­tor that made all the dif­fer­ence in mak­ing his busi­ness grow — he was the only de­vel­oper in the in­dus­try who paid their sup­pli­ers and bro­kers on time, or even ahead of time. This is how they at­tracted the best peo­ple to work with for their busi­ness. True enough, 8990 Hold­ings re­mains to be one of the key play­ers in hous­ing to date.

Pay in 25

In the Philip­pines, a study con­ducted by our com­pany, Acud­een, to­gether with Dun and Brad­street Philip­pines, showed that only 11 per­cent of Philip­pine com­pa­nies

dis­ci­pline is a good rep­re­sen­ta­tion of how a com­pany runs its busi­ness over­all. Like a hu­man body, if you ex­er­cise, you live a long joy­ous life, if you don’t take ex­er­cise, you mess it up. You have to run your com­pany as you would run your life, keep your in­tegrity in­tact and take care of the peo­ple you work with.

As an en­tre­pre­neur my­self, I value my re­la­tion­ship with peo­ple I work with. Em­ploy­ees, part­ners, sup­pli­ers, share­hold­ers, as much as pos­si­ble, I’d do any­thing to keep my in­tegrity end needs to be done. You can screw up your rep­u­ta­tion eas­ily, but it takes gen­er­a­tions to build it up. Ad­mit­tedly, I’ve made mis­takes in the past, and there are re­la­tion­ships that I lost along the way. All en­trepreneurs do, but this is how we learn.

It is true that not ev­ery­day is go­ing to be a good day, and you will have to go through bad times, and at that point in time, you have to make sure that you keep your com­mu­ni­ca­tions line reg­u­lar and open. Peo­ple will nat­u­rally be­come emo­tional and they would feel dis­ap­pointed, but that al­ways hap­pens when peo­ple don’t meet their ex­pec­ta­tions. By keep­ing

- dence of your part­ners in you re­mains.

At the end of the day, the choice is for you to make. Luck you can try to create, but busi­ness prac­tice is un­der your con­trol. Your busi­ness will

have to make sure you main­tain the high­est level of busi­ness in­tegrity, stan­dards, and rep­u­ta­tion for gen­er­a­tions. This will pro­tect you and en­sure that you will have a busi­ness to hand over to the next one in line. So if you want to keep your legacy, it all starts by mak­ing sure, that if you prom­ise to pay in 30, pay in 25.

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