Moving on with a tighter belt...

OpenSource, Inc. (http://www.opensourcesw.com) is a small start-up company that I personally manage. It is envisioned to be into a lot of business service activities. Today it's just starting with providing software and implementation assistance.

In April, 2008 the office was set up on a 35 sqm area on the 4th floor of Roscar Building. OpenSource shared space with another company (APPEC Business Strategies, Inc.) that I teamed up with friends.

In August, OpenSource took an aggressive stand as APPEC had to move to a different floor of the same building. OpenSource participated in the first event marketing known as HR Recruiter's Summit held at the Crowne Plaza in Ortigas.

OpenSource also composed a sales team including: Michelle, Felix, Rhyz and Joseph. The sales team's focus was to move 30 boxes of Integra Payroll Master.

In September, the first cash crunch happened. But I made a personal sales close so we were able to work further. We participated in two other events. One in Baguio sponsored by PICPA and ACPACI. The other one in the World Trade Center. So the team had to split. Both events were flops. So I had to meet with the team to make sure that they understood the business. And that the allowances they were getting will necessarily come from sales. To summarize the meeting, quotas will have to be met and that allowances, commissions and incentives will still happen. Coco joined to work on customer support. A few weeks later Joseph has decided to pursue another type of job.

The first few days of October spelled cash drought. And I had to re-think what we had been doing all along. The payroll software wasn't living up to clients' expectations. Support from the principal's end wasn't sensitive to OpenSource and client's expectations.

Had to meet with the staff to make them understand what's happening and perhaps solicit some bright ideas. I also had to make them feel that they're not being left alone.

The immediate and simpler plan of actions:
1. Re-focus sales team to higher ticket and higher GP item: Peachtree
2. Cut further on costs by reducing unnecessary staffing
3. Convert some asset to cash
4. Move office in same building but with lower cost

So starting Monday, October 13, 2008, we'll be moving to a smaller and yet better office space.