Monday, November 10, 2014

Going Into Business? Ask Yourself First!

Monday, November 10, 2014


Image source here.
Did it ever cross your mind to start your own business? Do you want to manage your own time? Do you want to be your own boss? If you answered yes to all these questions, then it is time to think of getting yourself into a serious matter.

People start businesses because of various reasons. It is indeed an exhilarating idea that you may have since you were a child. There’s a lot of thinking to be done when starting your own business begins to cross your mind.

Being your own boss can be as rewarding and free as you think it can be, but for sure it is not for everyone. As the saying goes, “Many were called, but few are chosen.” You can always start your own business, but it will not always guarantee that it will always be successful.

So is starting a business really for you? Ask these questions to yourself and answer them as honest and detailed as you can.

Why are you starting a business? Everything that we do has a reason. This should be the first question that you need to ask to yourself. Why are you into this? Some people choose to have a business because of their selves, their family, and some just thought of it out of the blue. You should have a reason that will inspire you to continue what you have started.

What kind of business do you want? Before you start a business, you should think of the kind of business that you want to get. Do you want to have your own store? A boutique? A salon? Not because your neighbour earns big on his grocery store means that you will earn the same. Try to think of unique businesses that will surely hit your place.

Are you prepared to spend the time needed to get your business started? You should also have enough time to plan, manage, and supervise your own business. Be ready to give up your social life for your business life, unless you can carry both.

Where will your business be located? You should always consider your location on setting up your business. Will it be near your house? Near the school or market? Opening a store inside your village would not guarantee success, considering your street is seldom passed by people. Always put in mind the best and most economical location that you can think of for your business.

How much money do you need to get started? By the time that you started to think of starting your own business, you should be ready to invest and get your money out of your precious bank account.  Will you need to get a loan? Also consider answering that question. If your savings would not be enough, think of the business as a worth it plan for you to loan from your trusted bank.

How long do you have until you start making a profit?

You will not get your money back, that’s one thing that is sure. When will it come back? In months or years time, nobody knows unless your business will be a hit. You should be ready to face all the pros and cons of starting a business, and wholeheartedly accept it, especially when it comes to money.

How will you advertise your business? Work on your creative juices. Advertising your business can be as easy as signing up for various social media sites. Aside from it is absolutely free, this is the easiest advertising platform that you can get. Create your profile, business page, post your products as often as you can, and just sit there and wait for your notification numbers to increase.

If you were able to answer these questions in a snap, consider yourself as a possible successful businessman. It would always be you who can make the right decision for yourself. If you want to be successful, you should plan ahead of everything. No ‘what ifs’ and ‘buts.’ Good luck on your business venture, future successful businessman!


               





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28 comments:

  1. Oh, correct me if I'm wrong but these are very similar to the set of questions they ask you when you register for a business license. :)

    I want to have a business, but it doesn't seem to come easy for me because of the skills set I've got.

    ReplyDelete
  2. There are lots of things to consider before having a business and that's why I haven't got one till now hahaha. Time for me is the eternal problem plus I still do not want to give up the online jobs that I have. Thanks for the tips you shared, I know there will be lots of moms who will truly benefit from them.

    ReplyDelete
  3. I've always wanted to start a business on my own but until now I haven't figured out exactly what kinds I want to put up. Haha! For now I'm just happy with my writing career but I know having a business on the side will help me earn more.

    ReplyDelete
  4. I also wanted to be a businesswoman but the demand of being hands on in it isn't just possible right now because of the little kiddo. What we usually do is invest on the stock market because my husband loves to trade while I also do my investment in my father's buy and sell business of printing machines. But I am still hoping that someday, before my husband retires from work, we will be able to establish our own business too!

    ReplyDelete
  5. My husband and I have photobooth business because we really love to take photos but our problem now is how we advertise our business, our only solution is to post link to FB and referrals of previous clients.

    ReplyDelete
  6. Thanks for sharing! Apart from maintaining our sports website, we have opened an online shop and still learning.

    ReplyDelete
  7. Ako kasi, I already treat myself as an online entrepreneur.. I already have my own money site plus mini sites.. Affiliate marketing yung iba.. yung iba naman direct advertising.:) Yun nga lang, need pa tutukan ng husto para maging stable ang earnings. Ngayon kasi I don't have the time to focus eh.. :(

    ReplyDelete
  8. I too want to have a business but I don't really have an idea on where to start? Laging iniisip walang capital which somehow frustrates me:( Thanks for this helpful information.

    ReplyDelete
  9. I wanted to have a business of my own too..but there are other priorities we have at the moment..and of course, it needs budget :)

    ReplyDelete
  10. Have several businesses. And to have a successful one is LOTS OF HARD WORK...

    ReplyDelete
  11. Having your own business is like a baby. You need time, effort, patience, dedication and of course, money to be able to make it grow. I manage the online wing of my husband's business and to be honest, it's really challenging. It seems easy but once you're in there, you'll realize na mahirap din pala.

    But of course, hardwork will pay off :)

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  12. I never thought I would be one to have a business. In my mind a business was always a solid structure of selling. Lately I've been finding out that having a business is exploring your own talents and opportunities and making it a viable way to earn money.

    ReplyDelete
  13. Definitely! It crossed your mind to start my own business. Hubby and I are actually choosing what business to do next year. These are good reminders and tips! :)

    ReplyDelete
  14. Me, too! I want to have my own business, too! I have ideas of what it could be but no definite plans yet. As a new SAHM, I'm still learning the ropes of this "business" :p Perhaps, when I finally learn to become a better home manager, I can begin serious planning :) Thanks for this post, reminds me to keep my business dream always at the back of my mind.

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