Nobody wants to be an employee their whole lives, right? At some point in our lives, we always though of us leading others or being the boss. A lot of people dwell on the fact that they want to start a business and along with that, they also do not know what to start. A lot of people say that what you should be doing should be the one you love doing – I know, kind of confusing but you get the point. Although this is true, a lot of Filipinos are still lost on what they love doing. Moreover, a lot of us are still afraid to take that big leap; to take risks.
If you’re part of the population who are stuck in the middle of what if’s and fear, then this article is perfect for you. In this article, we’ll be detailing some guides on how you can finally jump-start that idea that you’ve always had.
“I can accept failure, everyone fails at something. But I cannot accept not trying.” – Michael Jordan
It’s actually normal to fear something. As a matter of fact, fear is what drives most of us into our limits and goals, without it, life would be dull and boring. Same goes into diving in what business you’re trying to aim for.
Here are few of the tips we have for everyone who fell short on their ideas:
Yes you’re probably thinking of the Nike slogan but it actually serves an excellent point. If you’re going in circles with what you want to put up, you really won’t achieve something. Thinking about starting up that small ihaw-ihaw you’re thinking of? Or that humble food cart you’re planning to release? Don’t just think, go and try to start it. It will fail , that’s what you can expect. You will run out of funds, your market might not like what they’re getting, but that’s the point of it all in order for you to learn.
There would be times when you would have to work for free to learn. Yes, sacrifices would be the thing that would hurt you the most but hey, that’s part of learning.
Read: How to Start a Small Business in the Philippines
It is extremely important to know the ins and outs of what you’re planning to put up. You can’t go to a war unarmed . Find out about the cost, find out how it’s properly executed; dedicate yourself to learning what’s there behind all of it. This is also when you would have to work for free; you need experience to have something in return. While doing this, you will gain full knowledge if this would be the tailor-fit business or plan for you and that’s the time when you can tweak everything.
You need to have a business plan to get things going. You will be creating a business plan which you should abide to 100% of the time. It will become your bible, your pillar. If it becomes successful, you will one day look back at it and thank yourself why you created a business plan. Moreover, you need different types of permits, licenses, and other documentation so that your business can fully operate so don’t forget about that as well.
Read: Essential Permits and Licenses for Business in the Philippines
Doing research will also open your eyes as to what types of opportunities there is other than what you’re thinking of. Critically thinking about it does not only ensure everything, you’ll be able to evaluate if you’re happy with your ideas as well. You might be asking “Why would I even think about it if I’m not happy with it in the first place?” To tell you, a lot of Filipinos right now are diving into a blind pond; without knowing the proper things, it will be difficult for you to adjust if you’re not in love with what you’re doing. Maybe you just thought of starting up that bar because you’re seeing and you’ve searched that it gains a lot of profit; maybe you just tried thinking about that karinderya because of its stable properties.
Although it is important to consider these factors, you also need to think about yourself as well. Are you happy with your decision? Would starting this business make you 100% committed to it? You are the important thing here, not the business itself.
This is actually one of the things successful entrepreneurs and business people say to people who are just starting. Read books, attend seminars, travel the world. You need to nurture yourself in order for you to squeeze out everything inside your soul. Try different things, listen to music, attend parties, meet investors. A lot of successful people now even admit to gatecrash parties just to talk to investors and businessmen – the rest is history.
Reading books and finding new things to learn actually make you a better thinker. Moreover, it gives you an advantage in your decision-making skills. Meet new people, try different activities, do things that scare you the most and who knows, maybe that’s where all of your dreams are hiding.
If after everything, you’re still a bit confused about what you want, then maybe it’s the perfect time for you to get a mentor. A mentor, in the business industry is someone that would help you start and of course progress. Although most of the time, these mentors are your friends, relatives, or people you meet in social gatherings, they will help you and guide you through it all.
The good thing about these mentors are, they are more than willing to help others achieve the success they’re looking for. Most of these mentors won’t even ask you for something in return when the time comes that you reach the finish line of your success however, you need to look back on the things before you got what you wanted, right?
Read: Government P3 Lending Program For Filipinos From Php5, 000 to Php100, 000 with No Collateral
The biggest mistake to commit in the business platform is by having all ears to whatever your friends and family members say about what you’re aiming for. “It’s too risky,” “there are other things better than that,” “it’s too expensive/costly,” “it’s hard to manage.” Of course, they will try and just “think” about it because they literally have no idea about what’s to come.
A lot of people will make comments about it, a lot of people will try to steal your shine, there’ll also be people who would try and steal your idea. So what do you do when that happens? Do it, and do it fast. There’s no other way to counter it than doing it fast, correctly, and with proper documentation. Although there are people who has more experience than you do, it is for you to judge and to take action to step with the same shoes or not. There’s no shame in listening – just choose who and what you’ll listen to.
Being an entrepreneur or a businessman is not a simple task, it involves a lot of risk and failure. If you’re ready to face that and if you’re willing to go through that over and over again before you reach your sweet fruit, then you better start now because, when would be the best time to start if not now?
Images: Pixabay
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