Last year, my time was spent doing research, reading, talking to people and getting opinions. With my +/-30 years of business background, Masters and accounting degrees, this should be easy, right? I have to say nothing comes easy if you don't work hard at it. As mentioned before, you ask 10 questions, you end up with 10 different answers which makes it very confusing. Nevertheless, I continued on, researching and asking. With this, I was able to develop an accounting system that fitted a development company. That done, I then developed a forecasting model, which with one click will compute several years/months of financial budgets/forecasts, based on certain premises or assumptions. It can also show in one line, how much financing and cash is needed to see the whole project through. I still need the help of those who have more experience in the construction business, and in costing, to be able to use this model wisely. As of now, it looks like costing and budgets are the work of the architect.  But maybe in time, I will learn the ropes myself from the accounting system that I have prepared. Next, was to create a focus for the company and this, the marketing plan was generated and approved. My approach has always been to do proper planning and management - and be future-oriented. My motto - work hard - it is short-term loss, but it is for long-term gain. From here, we now go forward, and my fingers are crossed.  

Since the start of the New Year, I am more hands-on with Linmarr Towers. Starting a business in the Philippines is slow-going and time-consuming. Permits, fees, more permits and more fees. Along with these processes, are mountain-loads of paperwork to be done, as you go from one department to another. But we are almost there and it gets easier and easier.

This week, I have found out that one needs a permit to put an ad in the paper. The permit is from the Department of Trade and Industries (DTI). This applies to those ads that give away promotional items. One would question why this is needed - is it a way for the government to get more fees and revenues? Don't we have the freedom to advertise our business in order to be successful? As I understand it, you will need a DTI permit number if the ad is promising to give away promotional goods and discounts for a limited time. If there is no limited time, then it is not a promotion but is a marketing strategy, therefore no ads and no permits. Huh? I really do not understand, but okay, I will follow the rules and get the proper permit. I am not complaining. I believe this procedure is to protect the public from those who give misleading promotions to lure the general public to their businesses. I see nothing wrong with this, Philippines being the way it is.

It is just that today, as I write this, it is Friday and late in the day. I got the second pass to the DTI which came back with a third set of instructions on what to do. Why they cannot tell us all the requirements at the start, in the first go round, is a mystery to me. After 3 days of going back and forth, I still did not get my permit number. The government offices are closed for the weekend now, and I am left with nothing. So here it is - our advertisement, it will eventually be in the newspaper in due time. (By the way, we are free to advertise any promotions in websites, just not the papers - you need a permit).

Happy Chinese New Year, everyone. Kiong hee sin ni, 祝你新年快樂.

For more information about Linmarr Towers, please check out the website. There is a mortgage calculator available for each unit, as well as an easy foreign currency converter.