DCSIMG

Getting Started

Corporate Lessons as Applied in Life

By Tara Cabullo, Brighterlife.com.ph

blthumb_corporateWhoever said the corporate world bears resemblance with being in (high) school is right. Back then, we learned the basics of accounting, electronics, a foreign language, etc. It took a while for me to understand its practical uses. Same thing happens when you start working. And now when I think of my job and what I do, I realize that the skills I’ve acquired are far more applicable to real life. Lots more useful, too.

1. Profit and Loss (P&L). I won’t bore you about the nitty gritty of knowing your business’ profit and loss but put simply, P&L is all about how much you’re earning, how much you’re projected to earn from an investment, and how much you’ve lost, if any.
How it applies to real life: You’ve been meaning to take a class that will enrich your skill as an entrepreneur. While there may be no absolute projected growth, make sure that it capacitates you for future needs. So if you put your money in a financial instrument such as a savings account, or a fund, you should put in as well the P&L of that decision.

2. Business Case. In a survey conducted in 2013 by GfK (Gesellschaft für Konsumforschung), a significant % said their immediate financial/career goal was to start a business. While entrepreneurship is a great aspiration, only a few of us really know how to start one. I, for sure, don’t. But I learned how to build its case, thanks to being in the corporate world. It taught me to really think of why I’d spend x amount of money for a website, how the business will expand in 5, 10 and 20 years, and who will be in charge of various tasks. In the near future when I eventually get down to my own business, this skill will come in handy.

3. Strategy and Measurement. Lately, I’ve abandoned new year’s resolutions in favor of SMART {Specific, Measurable, Achievable, Relevant, Time Bound} plans. Overall, there’s a personal strategy with five priorities and details on how I will achieve this. With each priority is a timeline, execution, and corresponding picture of success. Key months would be December (when I plan what I start doing by January), June (when I conduct a midpoint check), and December (when I sit down to measure my progress). For 2014, I am happy to report that my funds grew by the % I intended it to be and achieved 90% of all priorities. This is a very basic planning technique we learn at work but don’t really apply in real life, even though it’s pretty useful. It helps give shape for our dreams to become goals, such as buying a house and saving for the kids’ education. As what Peter Drucker said, “What can be measured, can be managed,” after all.

 

See? A wealth of information can be found at work that can make your personal life more responsive and structured to your needs. It just takes a bit of curiosity and a different way of looking at things. Happy 2015, Brighter Life readers!


Tara Cabullo is the lifestyle blogger behind ChroniclesofVanity.com, founding member of Brighterlife.com.ph, BDJ Box Beauty Minister, and a digital marketer for an FMCG company.


Image used under Creative Commons from edar

Need help on planning your finances well?

The right person might be a financial advisor who can walk you through the steps of successful financial planning. Don’t have an advisor yet? Click here to find the best one for you or email us at editor@brighterlife.com.ph.

Receive regular wise money advice right in your inbox. Subscribe to our Brighter Life e-newsletter for FREE.

Add a new comment:

Note: Please be sure to read our commenting policy and terms and conditions for this site. We reserve the right to delete any comments that we view to be in violation of our policy. The name you provide will appear next to your comment. Thank you!

Your email address will not be published. Required fields are marked *

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Connect to your Brighter Life

%d bloggers like this: