We had a guest on entrepreneurship class, Arch Bong Zuniga. He is now a multi millionaire. He used to ride the jeep and his wife used sell sandwhiches in her office in the bank to make both ends meet. He worked in a bank before as a bank branch construction manager, but still could not earn enough.
Now he owns a resort near his house which delivers, 8t a day, 7 City State Condo that brings him l2 per month in rent each, aside from the AP office.
Yet he has been frugal.
l. He has maintained his head count to 10; the rest of the work he outsources.
2. No aircon - he uses Iwata fan with water;
3. He buys and wears cheap clothes.
4. He is wary of splurging.
5. LIves simply and no luxuries.
6. He stays in the office which he owns, not rent, and 20 sm only
What is the lesson here?
Now he owns a resort near his house which delivers, 8t a day, 7 City State Condo that brings him l2 per month in rent each, aside from the AP office.
Yet he has been frugal.
l. He has maintained his head count to 10; the rest of the work he outsources.
2. No aircon - he uses Iwata fan with water;
3. He buys and wears cheap clothes.
4. He is wary of splurging.
5. LIves simply and no luxuries.
6. He stays in the office which he owns, not rent, and 20 sm only
What is the lesson here?
We should know how to handle or to use our resources for better result. Cost cutting is one of the important thing - not only in a company but to individual too. If really wanted to be rich and successful we must know how to budget the money we have and be a hardworking person and have passion, so that it will be easy for us to accomplish our goals and dreams.
ReplyDeleteDanica Grace M. Ordinario
HGCMP
“Doing Without”… This is how they define frugality, to deny the pleasurable things in life. But for me, it is rather to look at it as a means of appreciating things in life and to make no expense but to do good to others, to your company as well as to your selves. To make the best use of resources to accomplish our goals we set as an organization and as an individual… We should challenge our self to cut cost, find ways to save and do millions of output!!!
ReplyDelete:)
Ella S.A. Paterno
A/R Assistant
Good Day!
ReplyDeleteWe should know the importance of frugality, knowing this is such a nice thing. Frugality is not bad it will help us to achieve our objectives and goals in life, not only that we can also help people in time of need as well as our own selves.
HAMP JOY
I have searched the meaning of frugality and came to realize that frugality is in our Principles:
ReplyDelete1.We will give capable and intelligent direction in the management of the business - by finding common strategies of frugality which include the reduction of waste, curbing costly habits;
2.We will find ways to be first effective then efficient in the utilization of resources of the business: manpower, machinery, materials and methods - seeking efficiency, avoiding traps, defying expensive social norms, embracing cost-free options, using barter, and staying well-informed about local circumstances and both market and product/service realities.
3. We recognize the impact of corporate activities where it operate and therefore to contribute in the promotion of the well-being in the community - Frugality may contribute to health by leading people to avoid products that are both expensive and unhealthy when used to excess. By being a good example of being frugal, we will be able to lessen cost, thus cost minimized can be used to help people improve their living.
Frugal living is mainly practiced by those who aim to cut expenses, have more money, and get the most they possibly can from their money.
Frugality is a means of cost reduction through careful spending amongst the workforce. Cost reduction is often perceived negatively.
If done successfully, there are many benefits, including the efficiencies of scale aspect when summing up individual contributions.
The effective way of frugality in implementation and the key to successful frugality is diligence.
Successful companies are frugal. Those who do not succeed has a negative understanding to frugality. Do you want to be successful? Then be frugal.
Aireen