Since I became a mother, I became interested in ventures that would provide income generation for our family. This was when I actually learned some practical business skills which I applied in my small business schemes. These experiences in small business ventures actually helped me actualized my discussions in business management which I conduct every now and then as a trainor.
Getting into business is risky, especially if the investment is big. Just the other day, my brother-in-law who got into partnership to put up an events management group, was lamenting and sulking. He’s into the process of new business registration plus establishing the company and he’s getting frustrated and stressed with the whole thing. He said he didn’t think it would be that hard.
As a consolation, I invited him to attend our training on Business Management System (BMS) for small and medium enterprises (SMEs). Although he’s been with the academe for a while, teaching in a local university for a couple of years already, he really have not attended any seminars on business management. The seminar was intended to help small entrepreneurs learn the rudiments of putting up their own business, managing it and making it profitable.
Starting a business is easy, making it successful is not. No wonder some people who wanted to get into business, instead of coming up with their own business ideas, opt on getting franchises. I, myself, thought more than once that if I already saved enough, I wanted to get a franchise of a popular brand. Getting a franchise is oftentimes practical since the product is already established as well as the processes and sometimes, even the management system. Although of course, even with franchising, the leadership capacity of the management still play the most vital role in ensuring the success of the business.
Whether you try a fresh business idea or get into franchising, the most important factor is your readiness to get into business. This means even if you have the capital for investing, you have to prepare yourself first. Do a product research, study management practices, plan and strategize, know about marketing and promotions, business and consumer trends, etc. Successful businesses does not happen overnight, they would require time, patience, hardwork, and taking risks.
What about you, do you have any learing experience or business story you wanted to share with our readers? If you do, please write the author at marikenya@yahoo.com or leave a feedback on this article.
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The first thing to do in having a successful business is by planning it well. Philippines offers many opportunities in business. Another thing is, business registration in the Philippines is easy as long as you comply with the requirements. I will share to you some steps of easy registration of business.
The first thing to do is to have a certification of registration of your desired business. Is it single proprietorship, partnership or corporation, or cooperative? The next thing is to visit some agencies for barangay clearance, business permit, etc. After those processes, your business will now be legally registered in the Philippines.
You may now hire your employees and register them also in agencies like SSS, PhilHealth, and Pagibig for their benefits.
Nowadays, you must be super creative to have a good business idea that works.*:-
it is easy to get Business ideas, just look for a product or service that has demand and fill it“’