Non-Techie Designing Tech Products & Experiences

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I’ve always been amazed by the power of technology to bring things to the next level. 
Back in college, I tried my hand at developing an online library/digital archiving and digitization services. Admittedly there was something wrong in my business model, so it didn’t – couldn’t fly. But that experience taught me a valuable insight: me a non-techie (someone without any skill and high level understanding of technological systems could envision and design tech products and experiences.  

I’m not talking about putting up a website. These days that’s pretty much an assumed skill given all the pre-made templates you can play around with. I’m referring to creating digital/technology products/software/systems which can change industries and lives. 

In the past three years a significant portion of my work has been focused on harnessing and mastering these techie things in building products that are of value to customers.

I guess right now what I want to say is don’t let not knowing technical skills limit you. If you have a vision and can communicate it anything can happen, especially if you reach out to others.

 

Tips for Job Seekers

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It goes without saying that job seeking now-a-days is both easier and more difficult. Easier because information is readily available. More difficult because information is readily available. 

I’ve been interviewing for a vacancy in Colayco Foundation. It’s a quick hiring process as we need to fill in the position ASAP. So I went ahead and just posted the job ad everywhere and sat back waiting for resumes to come in. 

In a few hours, a couple of resumes popped up in my inbox, next three days interviews were scheduled. Final interview on the fifth day. Decision and offer on the sixth day. Report for work on the seventh day. 

In this speedy hiring process, I learned and would like to share the following:

  • If you don’t have the skills or minimum requirements at all don’t apply. Now if you have some of the skill/requirements, but are not an expert, then go ahead and ask how intensive the skill requirement. You can take a chance and see. You can even use it to your advantage by stating that you have serviceable skills in one area and expert skills in another. 
  • When you send a job application via email…check back at least the next day. I know more likely than not, most companies take a while to respond. But would you really want to take that chance and miss the interview invite? 
  • Don’t just email attaching your resume. Include a nice short note/3 paragraph email – its the modern equivalent of a cover letter (or you can just use your customized cover letter). 
  • Trim down or do some layout magic so your resume fits in 2 pages. Formatting it to a long bond paper is acceptable. If you are a fresh grad, don’t BS by listing everything you’ve ‘accomplished’ since kindergarten just to fill-up your resume (and thereby making it 4 pages long).  
  • You know how potential employers google you for background check? Well you can do it to them too. Do your research not just about the company, but about the position you’re applying for, the department, the products or services. When asked the inevitable question – what do you know about us – or some variant of it, don’t mouth the write up word per word. Don’t just google the company, but also the interviewer. Case in point, if any of the people I recently interviewed googled my full name online, they’d see the many posts I’ve written for job hunting, resume, etc. They’d see what my likes and dislikes are based on what I dish out on a regular basis on Facebook or Twitter.
  • Don’t confirm an interview schedule and then not show up. (If you did that to me, you’re on my black list – I really keep a list. It will take the Wizard of Oz to spell me to hire you or recommend you should our paths cross again in the future). The least you can do is say that you can’t come or that you withdraw your application. 
  • Remember an interview works both ways. You are being interviewed and you are interviewing the company. You’re thinking about spending the next 1 year or more there. Be concerned and interested. Ask questions about the company, it’s products/services, the culture, the philosophy, the position. Understand how the position your’e applying for contributes to the bigger picture. 
  • If you realize through the course of the interview that the position is not for you then say so respectfully. 

Anyway, these are just some of the thoughts running through my head as I was interviewing applicants. I hope these help you in your own job seeking.

 

Unemployement and Incompetence?

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A while back, I was listening to the news on radio…the topic being focused on was unemployment.

One question comes to mind…
Are Filipinos qualified and competent enough? Maybe its because they aren’t (competent) that unemployment and underemployment is high.

I strongly think that generally speaking our workforce is lacking.

Filipinos can speak in English, Filipino and their local dialect – but have poor communication skills. Many are inarticulate both in written and oral communication. They communicate in phrases and half thoughts. So while many can execute a script in pertfect Filipino or native sounding American accent, when it comes to expressing their own thoughts and opinions its commonly phrases and half-thoughts.

Maybe its not merely a lack in communication skills but more importantly a lack in independent thinking (either because people have no self confidence or self trust or they are are severely lacking in experience and technique for more complex thinking activities).

More than math, science or the English language what we need are Filipinos trained in the art of thinking.
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Dealing with the Blow-Out Dilemma

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A few months back, Arthur Ladaga and I were working on really short articles to publish in a lifestyle magazine…some of the articles didn’t make the cut. Still we’d like to share them with you. :)  

easy-party-food-ideas

Dealing with the Blow-Out Dilemma

Office mates often push new hires to treat the office to a blow out when their 1st salary comes in…here are some tips on how to deal with it:

Excuse Yourself: Reality is you are not obligated to treat your officemates. So you shouldn’t feel pressured if treating them out will put you in a bad financial spot. Tell them that you have expenses you need to cover and look for another time to treat them.

Now if you do want to treat them:

1. Set a Budget: Spend only what you comfortably can. You don’t need to treat them to lunch or dinner. AM or PM snacks will be much appreciated already.

2. Be Unique: Your new officemates simply want to see and feel that you want to work with them… Make the effort to have them try something new or you could even cook for them. You’ll make a better impression this way. 

3. Join Forces: If someone is having their birthday soon or if there’s another new hire, consider combining your budgets or simply adding a complimentary dish.

Equity Index Fund or Equity Managed Fund?

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Inquirer:
Given the current economic fundamentals of Philippines, what instrument is better to invest between these two: index fund? or actively-managed equity fund?

It’s because I heard many conflicting reports saying that in the long run, index funds beat actively-managed funds, while others say this is not applicable in Philippines compared to US and we’re better off investing in actively-managed equity funds

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Guita of Colayco Foundation:

The situation in the US is very different than in the Philippines. There they have over 20K funds while in the Phil. we only have 40+.

Investing in an index fund is less risky as it recreates the Philippine Stock Exchange Composite. Therefore, if the PCOMP goes up then the index fund should go up too, and the reverse is also true. Fund managers cannot reallocate investments to high growth/value stocks when opportunities present themselves as this is the limitation of an index fund. Managed funds have greater freedom.

As we have a very young MF industry, it is difficult to see whether the conventional US advise holds true here. There are years that managed funds perform better, and there are years that index funds perform better.

It seems to me that you are looking only at the investment’s returns and you may not have a complete lifelong investing plan. If you had an investing plan, then your primary objective would be achieving your investment goals. Whether you invest in an index fund or managed fund (here in the Phil) is not so much an issue long term.

Remember investment are tools! Match the tool to your purpose.

Suze Orman in Manila

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“The Philippines is going to be a force to be reckoned with…but while the Philippines is doing great, here’s the question I want to ask you-how are you doing?” – Suze Orman

Last night, I got the opportunity to listen to Suze Orman, a well known American personal finance personality. Suze’s bluntness is refreshing as we Filipinos tend to play on the safe side constantly thinking about how others would think of us. She is unapologetic about her success and her wealth but is not boastful – she is grounded in values that keep her real.

One thing greatly impressed me about Suze- SHE DID HER HOMEWORK. She researched not only about the Philippine capital markets and economy (which should be expected of a financial adviser crossing the ocean to deal financial advise to a local audience) but also about how Filipinos as a culture relate to money.

As an advocate of financial education, I greatly appreciated what Suze had to share and how it perfectly aligned with our own philosophies in Colayco Foundation.

Here are some of the highlights:

SO: As the Philippines continues to progress, you will be targeted! More and more businesses will be setting up shop in the Philippines. “They will have one thing in mind – they will tempt you to buy.”

SO: “You will never be powerful in life until you have power over your money.”

SO: “The goal of money is to make you feel safe and secure”

SO: When making any money decision, Suze says ask yourself how does it make you feel? If you feel afraid or are scared then don’t do it. If you feel powerless and that you always have to watch your money, then don’t do it.

SO: Suze says there are three obstacles that you face in dealing w/ money – FEAR – SHAME – ANGER. You have to “Stand in your TRUTH!” You are who you are because of all the good and bad in your life. “I am who I am today because of the poverty in my life.”

SO: If you have credit card debt and you want to get ahead financially…PAY OFF your credit card debt. No investment can guarantee you 30-40%! (FYI In a year, 30-45% interest is applied on money borrowed on credit card.)
If you have cc debt n u wna get ahead is to pay off ur credit c debt
No investment can guarantee u 30 to 40prcent

Debt s bondage

2 pots of money
- savings emergencies – don’t care abt the interest
- investd for future
— dnt knw what to invest in— index fund pse here — every single month
—- cost averaging.

This is your chance to build wealth for yourself – if you consistently invest in the index fund

Managed mutual fund — index fund will outperform a managed mf

Do the math — 20prcent down and 8 month emergency fund
– 20 year fixed payments
Payments taxes

Stop buying dollars
If you want the phl to grow start investing n ur selvs
stay wth the peso
Support it wth what to do wth ur money

Gold is a very risky investment

Borrow to invest

People first then money then things.

I wanted to grw up valuing myself more than money,

My goal for all of u is to get more pleasure out of saving than spending

To ths day I still
But what I need more than what I can afford.

Gold is no longer serving as the hedge to etfs. Gld s always speculative – small portion no mre than 10prcent

Stop wanting this to move… Go wth smething that’s moving — that u miss opportunities

20s most impt investmnt yrs of ur life
Importance of time
100php invest month next 40 yrs
12prcent average ret age of 63 1mil pesos

Live below ur means but within ur needs.
Evvry thng u buy
If its a want go walk away

Don’t let ur friends entice u to do stupid things about money

I think its very dangerous for u to figure out now what you need in retirement. Where are u now?

MOM – greatest thng to do is to educate her on what it takes to run the household

Online courses you can understand

Trust yourself more than others
Until you feel safe n secure don’t invest

How to be a good financial adviser
- right vs easy
Just bcoz u will get a comission
Research on other products
— how it really works

Put peoples needs b4 ur own paycheck

Who u r s always more impt than what u hav

U define money not money define u

Money Concerns After A Stroke

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TEDxWooster-Peter Abramo: Entrepreneurship and...

TEDxWooster-Peter Abramo: Entrepreneurship and the Liberal Arts (Photo credit: jonny goldstein)

Inquirer:

i’m a stroke victim and i am now 57 years old. i am totally broke. i was able to read the investment in mutual funds. can you share me your ideas how would i do it.? i am planning to have a loan at bank of the philippine island with the amount of P30t. the 5t i’m going to invest it for mutual funds and the rest of 25t for food business.

Guita of Colayco Foundation

A loan is a serious financial obligation. When you take out a loan you should know how you intend to pay it back, regardless of the outcome of your business and investments. Manalo, matalo kailangan binabayaran pa rin ang utang.
Both business and mutual funds carry risks – businesses can fail and mutual funds are affected by the growth and decline of the stock market. For both, returns, income, growth are NOT GUARANTEED.
So if you have a fixed obligation (loan) and you use the money in something NOT GUARANTEED you need to have a good payment plan for the loan (just in case) otherwise you’ll be in deeper trouble compared to where you are now.
Are you earning any income? If yes then this could be ‘plan b’ for paying off your loan if your business and investments don’t do as well as you hope.
It would be more prudent at this point to find an income earning opportunity and save up for a mutual fund investment and for part of your capital for a business. This helps you manage the risks and obligations of running a business and taking a loan to fund that business.

BDO Equity UITF or FAMI SALEF?

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Ruckers-Taskin (1646/1780) harpsichord, (Paris...

Ruckers-Taskin (1646/1780) harpsichord, (Paris, Musée de la Musique) (Photo credit: Wikipedia)

 

 

Inquirer:

 

Which do you recommend, BDO’s UITF-EQTY or FAMI SALEF?

 

Guita of Colayco Foundation:

 

Both are good instruments managed by trusted experts. I suggest you check their historical performance-analyze and compare how each took advantage of good investing climate and managed during not so good or bad investing climate.

 

Inquirer:

 

I heard MFs charge higher fees than UITFs? Is that true?

 

Guita of Colayco Foundation:

 

Yes but the difference is marginal. And MF Managers tend to be more aggressive in growing your money than UITF managers.

 

Compare performances on www.pifa.com.ph (MF) and www.uitf.com.ph (UITF)

 

Networking Questions

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English: Description: Social Networking Source...

English: Description: Social Networking Source: own work Author: koreshky Date: 12/10/2007 (Photo credit: Wikipedia)

 

Inquirer:

what can u say about networking?

is it safe to join in networking?

 

Guita of Colayco Foundation:

Networking is a good active income earning opportunity. Just make sure of the following

1. you are connected to a legitimate company with legitimate products

2. you should earn more from the product than referrals of new networkers

3. you have the skills and enthusiasm to sell the product

Networking only works if you are willing to work hard in selling a good product.

 

If a networking company is legitimate then you have no problem. Remember however that you make money in networking companies through your own hardwork – by selling the products or by recruiting other sellers. If it is not something you like doing, it will be unlikely that you will earn from it.