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Most people get into business because they need more money. They feel that being in business is the right thing and i totally agree with them on this. But knowing what I know after years in traditional business is that small business is very risky, long hours and takes its toll on your health. There is no family time as well as the hours a extremely long with no guarantee of making a decent income.
Another factor that drives people to become their own bosses is a bad working atmosphere. They feel under appreciated and feel they can do better if they do it all by themselves. This may be true to some extent but their self employed people have little or no skills or knowledge outside their work expertise. They may not know how to do the accounting of the business, may be poor people managers or quality assurance managers. Though they are good is a certain aspect of the business they dont have enough expertise to either know it all or are under capitalized to employ qualified people to help them.
They set themselves up for either failure or a struggle in home based businesses.
Most people I meet ask the question ?how to start your own small business??. This is quite an ordeal for anyone who is looking to go out and start earning an income by working for themselves. I will explain various business models below that you can look at and what may best suit you.
Its very risky when it comes to starting a business on your own. There are a number of facts to be considered such as
- risk,
- ?capital,
- experience,
- ?return on investment or ROI,
- etc.
Though these maybe the main ones from my experience in traditional business. There are others such as time investment and health.
Information on how to start a small business:
Here is some facts to keep in mind when you look at starting a business. Lets look at each group of business models that are available and see how each one fairs with the points above of risk, competition, capital and ROI.
- The first group is a small Sari Sari Store: This is when some goes about doing something all? by themselves.? There is no backup as you are the business. No one to help you if things go bad financially. Here the investment can be from 50,000 to 100K pesos as an initial investments. The capital is very small for business and will give the owner a chance to earn php 8,000 to 30,000 php a month. The risk is not much as the investment is small. The return or ROI though small is quite quick and relatively easy. The competition is stiff in the Barangays with other sari-Sari stores around. Though you have no experience you can learn fast. The hours are long in these small businesses and there is not much of a social life to look towards. It can affect your health.
- The second Group is that of Small Franchises:? In this group we see people investing in mini franchises such as Food carts, etc. They do this feeling secure as franchises are known to give the new business owner a system that is proven to work. The investments is are much higher than sari-sari stores around the 250,000 pesos mark and maybe quite expensive for the average Filipino. Its a very competitive business and the risk is high. You carry most of the risk and though it is a franchise it does not guarantee huge success with its name. Its just a small proven business system that can work if competition is low. The return of investment is over a few years if you can make it work.
- The third group is big business: This is the Jolibees and Macdonalds. Not many can buy such a business system.? The risk is huge as you are looking at investments of over 35 Million Php. The ROI is over 15 years and though competition is huge you can do well as you buy a good brand name. You get the skills, know-how as you are buying a proven system. The incomes can be well over 200,000 pesos a month. This is good incomes in Philippines.
- Network marketing: here with a small investment of capital for products you can get started tapping into proven systems as good as a Joliibee Franchise and make well over $1000 USD a week part time. The business is no risk as the products are? discounted 25% and you either can use them or sell them at a profit. Secondly you get all the expertize as well as training for free and there is no competition whatsoever. Your sponsor will help make sure you are successful provided you want to do the work.? And the ROI is huge. You can earn well over 200,000 pesos in 12 to 36 months in the business if you follow the system
How to start up small business
Now most people may just have a small amount of capital around 50,000 pesos and still want to have a decent income say well over 100,000 pesos a month. Most small business owners do not have the business experience to start with when they get started. So what do they do.
So how to start up a small home based business? The best way is first come up with your own dream of what you want for your life. This dream must be clear.? Where you want to get to and what exactly you want for you and your family in a home, holidays and time for the family. This must be very clear to you.
Then you must look for a system or vehicle or business system to get your dream to reality. Make sure its not emotional and must not include what you like.? Just because you like something will not necessarily make you a success.? The products must be wanted by millions of people and must be in huge demand and the quality fo teh products must be the best of the best. Such a product you must look for in Philippines and Globally.
Then you need to look for how to make this system duplicable so anyone can do this and make you money. Once you have this figured out most of the hard work is done. Its only when a system can be duplicable without you being present and the produces big results is when you have found true success.
Now the last step!
Lastly you need to find people who sees your dream, are willing to embrace your dream and make it a reality and help others in reaching their dreams. Its when you have passed on this message very clearly to your team and when they follow the system just as you have set it up, will you find true business success.
Now though this may all seem a very look drawn out process to ensure success, business is not so hard to get started in. There are many companies who have all the systems in place. These business systems have all been tested and proven over time and all people have to do is follow the system and make very big profits.
If you are looking for a home based business right now, I strong recommend that you look at a company that is proven, is on the cutting edge of science and pay well and is financially free to help you get your dream.
I strongly recommend that you narrow down your search in the health & wellness industry as there are some very good companies out there that can deliver what you are looking for.? They are proven, have systems in place and all you will need to do is tap into these systems and make money in your first week of business.
If you want to earn in US Dollars, weekly and get paid for what you are worth in the Philippines then click the link below to do your own due diligence today.
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