Most of the folks that I know, do not believe nor include insurance as part of their budget of expenses. To most, insurance is really an "expense" that they could forgo.
So what is insurance and why do we need it?
Insurance, in law and economics, is a form of risk management primarily used to hedge risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium. Insurer, in economics, is the company that sells the insurance. Insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. against the Source- http://en.wikipedia.org/wiki/Insurance
Ok, in Layman's terms, insurance is an instrument whereby one pays a premium to insure, for example, his automobile, that would pay for any losses he might incur in case an accident may happen. “Insurance provides indemnification against loss or liability from specified events and circumstances that may occur or be discovered during a specified period. ”
Now most people understand this concept and still believes that insurance is just an expense that they can do without. I remember during my early years in dealing with non-life insurance, I had a friend who had a vehicle and offered him comprehensive insurance (in the philippines, this means full coverage that includes own damage and loss/theft.) since his coverage was only CTPL (compulsory third party liability, again in the philippines this is a requirement prior to registration of motor vehicles and is quite cheap.) During the year, the vehicle met an accident luckily he did not hit any person he just hit a lamp post and got away with just a bruise on his pride. He thanked me for the additional coverage since the insurance took care of repairing his vehicle at a very minor cost to him.
Another incident involving motor vehicle accidents was when my son's godfather called me up and said he accidentally hit a drunk person crossing the street. The fellow died and left my friend in shock. The insurance took care of the of the burial costs. And other expenses my friend would have coughed up had he not taken the additional coverage.
Considering insurance as an expense may not seem fair since insurance not only would help a person in their time of need, it also helps them have the peace of mind that they deserve.
Should any of you be interested, I offer non-life insurance with a product line consisting of motor car insurance, Fire Insurance, Marine Cargo Insurance, Personal Accidents.
I am currently connected with Toko Marine Malayan Insurance Corp.
Tuesday, April 17, 2007
Monday, April 02, 2007
Starting a Small Web Design Business
If you know basic HTML, CSS, Photoshop you can start your own web design business. Unlike traditional businesses... Most people who would go for your service understand that you are some sort of a consultant and would ask more for samples of your work rather than your company's name.
The only piece of equipment you would need, which you probably have already, otherwise you would not have read this thread of mine, is a computer. Maybe even a scanner, a printer and that's it.
First Tip - Sample Work
If you have not done any actual web sites yet, it would be great if you came up with a sample. Basic HTML web sites may be placed on CD's or FREE HOSTING Sites. As long as your links work. Then you're in business.
Second Tip - Web Presence
Working on our first tip, might as well create your own website and learn to use FTP (File Transfer Protocol). Some FREE sites have their own file managers/uploaders but it would be better if you could use FTP since file managers/uploaders don't have the ease of use of FTP programs. I personally use WS_FTP.
Having a website, even on a free site is better since your work will be accessible to prospects 24 hours a day/ 7 days a week (24/7). Besides, without a website your like a carpenter offering his services without even owning a hammer. :) Also, get yourself an email address that is a little more professional. juan.delacruz@somewhere.com is far more professional than NiNo_da_Man@somewhere.com.
Third Tip - Know your suppliers
The only suppliers we would have in this industry are Web hosting companies. Most web hosts also offer domain name registration. One of my suppliers, located in manila that offer a not so bad pricing is www.1pesohosting.com. You need at least one of these suppliers so that when you offer your services, you already have an idea of how much to charge them aside from the web site design charges.
Fourth Tip - Advertising
Once you have your own site, decide whether you want to get local clients or foreign clients, either way, go and register your website in as many on-line business directories as you could. This way you could even get foreign companies.
Fifth Tip - Answering Inquiries
When answering inquiries, be sure to make certain that both of you understand what you are talking about before even giving your prospects a price quote. You must first understand that the client requires so much pages and so much graphics, etc. If prospects just want to ask for the price and are not willing to tell you much about their requirements, then they are just either canvassing or trying to put one over you.
For example, the actual work needs you to do some programming or flash animations and as far as you know, you only discussed about plain static pages in HTML and CSS.
I normally keep a file on every conversation or email i have had with my clients. With that, whenever they require something else, i always copy and paste our conversations. :)
Sixth Tip - Communications
Exchanging email with prospects is good, it is actually better. But for you to work better with clients, sometimes it is great to be able to chat with them either on Yahoo!™ or MSN™. To record your conversations here.. Just click "Select All" then "Copy", open your Notepad and "Paste". Save your file and you have a record of your communications.
Seventh Tip - Pricing
Always make sure that you make a detailed listing of the services you will be providing your customers. Send this price quotation through email and have them send this back to you as a sign of their acceptance. When pricing, always separate the domain name registration and web hosting costs. This way your clients would know what they would be paying the next time without you. You should also inform them that web hosting is paid yearly and domain name is paid annually (depending on the domain name registrar).
For foreign customers, you may give them a price in US$. Be sure to check the exchange rate first. For example, if you wanted to earn at least P750 per page and the current exchange rate is P 48.05 = $ 1. You might charge the client US$ 15.60/page (computed as P750 /48.05)
Eight Tip - Receiving Payment
The fastest way to receive payment is through Western Union™. All you need to know is the confirmation code, which the customer should give you once they have sent you payment. Prior to this, you should have at least two valid ID's when receiving their payment through any Western Union Agent(click on this link and click on "FIND AN AGENT" the Western Union website.) here in the Philippines. When going to any Western Union be sure to bring your ID's.
If you have a bank account, you could also go to xoom.com and enrol your bank accounts there. Although as of this writing only Equitable-PCI dollar accounts can be enrolled. Others banks would mean that your payment in US dollars might be converted to peso in your account.
But if you don't want that kind of hassle, just have your clients (for foreign clients) send payment through Western Union™.
That's all for now, good luck and welcome aboard!
Sample Quotation
Client Name
Company Name
Dear Sir/Madam: (or place the client's name here)
We are pleased herewith to present to you our best quotation for (Indicate the project name)
We hope that this would suffice in your personal evaluation.
Web layout and design P x,xxx /page
includes : uploading of files, setting up of email accounts, etc.
Domain Name Registration P x,xxx
WEb hosting 1year P x,xxx
Terms and Conditions:
Payment : Web Design 50% downpayment/ 50% upon delivery
Domain Name Registration and Web Hosting Fees %100
Delivery : Within (be careful about this) _____ days upon confirmation
Deliverables : 1 fully functional website, with 2 email accounts, etc., etc.
Very truly yours,
ME the WEbdesigner
The only piece of equipment you would need, which you probably have already, otherwise you would not have read this thread of mine, is a computer. Maybe even a scanner, a printer and that's it.
First Tip - Sample Work
If you have not done any actual web sites yet, it would be great if you came up with a sample. Basic HTML web sites may be placed on CD's or FREE HOSTING Sites. As long as your links work. Then you're in business.
Second Tip - Web Presence
Working on our first tip, might as well create your own website and learn to use FTP (File Transfer Protocol). Some FREE sites have their own file managers/uploaders but it would be better if you could use FTP since file managers/uploaders don't have the ease of use of FTP programs. I personally use WS_FTP.
Having a website, even on a free site is better since your work will be accessible to prospects 24 hours a day/ 7 days a week (24/7). Besides, without a website your like a carpenter offering his services without even owning a hammer. :) Also, get yourself an email address that is a little more professional. juan.delacruz@somewhere.com is far more professional than NiNo_da_Man@somewhere.com.
Third Tip - Know your suppliers
The only suppliers we would have in this industry are Web hosting companies. Most web hosts also offer domain name registration. One of my suppliers, located in manila that offer a not so bad pricing is www.1pesohosting.com. You need at least one of these suppliers so that when you offer your services, you already have an idea of how much to charge them aside from the web site design charges.
Fourth Tip - Advertising
Once you have your own site, decide whether you want to get local clients or foreign clients, either way, go and register your website in as many on-line business directories as you could. This way you could even get foreign companies.
Fifth Tip - Answering Inquiries
When answering inquiries, be sure to make certain that both of you understand what you are talking about before even giving your prospects a price quote. You must first understand that the client requires so much pages and so much graphics, etc. If prospects just want to ask for the price and are not willing to tell you much about their requirements, then they are just either canvassing or trying to put one over you.
For example, the actual work needs you to do some programming or flash animations and as far as you know, you only discussed about plain static pages in HTML and CSS.
I normally keep a file on every conversation or email i have had with my clients. With that, whenever they require something else, i always copy and paste our conversations. :)
Sixth Tip - Communications
Exchanging email with prospects is good, it is actually better. But for you to work better with clients, sometimes it is great to be able to chat with them either on Yahoo!™ or MSN™. To record your conversations here.. Just click "Select All" then "Copy", open your Notepad and "Paste". Save your file and you have a record of your communications.
Seventh Tip - Pricing
Always make sure that you make a detailed listing of the services you will be providing your customers. Send this price quotation through email and have them send this back to you as a sign of their acceptance. When pricing, always separate the domain name registration and web hosting costs. This way your clients would know what they would be paying the next time without you. You should also inform them that web hosting is paid yearly and domain name is paid annually (depending on the domain name registrar).
For foreign customers, you may give them a price in US$. Be sure to check the exchange rate first. For example, if you wanted to earn at least P750 per page and the current exchange rate is P 48.05 = $ 1. You might charge the client US$ 15.60/page (computed as P750 /48.05)
Eight Tip - Receiving Payment
The fastest way to receive payment is through Western Union™. All you need to know is the confirmation code, which the customer should give you once they have sent you payment. Prior to this, you should have at least two valid ID's when receiving their payment through any Western Union Agent(click on this link and click on "FIND AN AGENT" the Western Union website.) here in the Philippines. When going to any Western Union be sure to bring your ID's.
If you have a bank account, you could also go to xoom.com and enrol your bank accounts there. Although as of this writing only Equitable-PCI dollar accounts can be enrolled. Others banks would mean that your payment in US dollars might be converted to peso in your account.
But if you don't want that kind of hassle, just have your clients (for foreign clients) send payment through Western Union™.
That's all for now, good luck and welcome aboard!
Sample Quotation
Client Name
Company Name
Dear Sir/Madam: (or place the client's name here)
We are pleased herewith to present to you our best quotation for (Indicate the project name)
We hope that this would suffice in your personal evaluation.
Web layout and design P x,xxx /page
includes : uploading of files, setting up of email accounts, etc.
Domain Name Registration P x,xxx
WEb hosting 1year P x,xxx
Terms and Conditions:
Payment : Web Design 50% downpayment/ 50% upon delivery
Domain Name Registration and Web Hosting Fees %100
Delivery : Within (be careful about this) _____ days upon confirmation
Deliverables : 1 fully functional website, with 2 email accounts, etc., etc.
Very truly yours,
ME the WEbdesigner
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