Merged: How to Start a Business?

[sting6ph]

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from the capital dude, there are a lot of things that you can do.

I think agriculture is the best Idea so far considering if you have enough space (about 200sq...but I think 100 ok na...)

the downside is ang ROI slow...but I assure you its very steady...

you can have a variety of animals..from pigs to chickens to goats...even if carabaos will do...ducks are my favorite so far....

but its your own choice dude...indulge in a business that you really enjoy...or if you are creative enough..make your existing hobby a business....

[MrBiddle]

I think video editing. Buy a MiniDV and Digital 8 camera and an ordinary computer or 2 computers for network rendering.

The 2 cameras dont have to be professional grade if you don't want cameras maybe tape decks but I'm not sure how to get or if tape decks can be purchased in here.

Then charge for Php. 800 every time a client wants you to cut something. Or paint something out.

[j_ybanez]

Hello pips!!!

thanks for all your appreciation. And anyway, i would say that one should apply the ABC's altogether.

I just spent the whole week last week, out-of-town, with a successful entrepreneur friend i know, a millionaire i should say, and i just would like to share to you some of his insights and my learnings.

1. Every person is unique in the same aspects of opportunities
- I've always wondered why most people don't succeed in life. Finally, it was answered. He said that the keyword that makes or breaks one's success in life is called WORK ETHICS. We've observed this thing ever since we got consciousness about the world around us. For instance, why is it that in school, only a few of the students finish school with flying colors when there is no limit to how many students can graduate with flying colors? Just like in life, even if we're exposed to the same opportunities, environment and influence. This doesn't mean that we all end up the same. Most of the people would not make it good and experience poverty while a few would make it well in life and live in a previledged lifestyle.

2. You can never drag a person to become successful
- People think differently about different things. I would say, people look at things differently. The keyword here is PERSPECTIVE. And in different views, we can always subject the things the we see into different conclusions. This doesnt mean that what we see is right or wrong, its just how we see it. To be successful, we should take time to see all the views display first before we make our calls.

3. Successful people dont work or do business for money
- Now this one is great!!! Ever wonder why successful people don't stop at being successfull? Keyword here is SIGNIFICANCE. Successful people understand that they can never bring their wealth to their graves, but they would never stop doing what they are currently doing no matter what the cost. I asked this friend of mine, why? he said that "what most people really want in life is to see how well they have touched the lives of others. When they end their mortal lives, one can see how they did well by the number of people mourning for them on their deathbed and how their names echoed into eternity." Successful people want to be immortal. In a way, they want to make their names ring until the end of time after they're gone.

4. It's all in the mind
- MINDSET. The power of the mind can never be understood by science. Moreso, the power of the human mind can never be underestimated. This has been witnessed thru the lives of successfull people. When the going got tough, the mind got working. I've seen this alot of times when people did extra-ordinarily well under the worst conditions of their lives. Your mind can either focus on the problem at hand or to the solutions at hands-reach. Its your choice!

Guys, the task of doing well in life is too great to ignore. So i call on people with dreams and ambitions to GO FOR IT!!! There's nothing more to loose when all is lost. Take that pride off your baggages and let go. There's more to life than meets the eye!!!

keep in touch guys!!! I'll be very very busy this week!

God Bless

[rufo]

sir J, all these insights from u and ur friend would give us more encouragement to open a bizz...

can i ask sir j, what would be the legal papers/documents to open a bizz...?

thanx a lot sir j...

[glenn]

it seems that most of you here are business minded but one thing I understand with business: it is like a gamble, even though you present feasibility studies, papers and other documents but who the hell in this world will lend you money to start business with out interest and colaterals.........businessmens are businessmens........dili puwede ma lugi mura og intsik.........now another is that you don't need money start up business, yes but you need money to process everyhting you need like what : transportation fares, communication expenses, clerecal supplies, and ofcourse food........dili lalim mag negosyo nga gutom...........but one thing I learned from my teacher if you borrow something for capital pay it first before any other expenses, especially those with high interest rates.........

[dvfortuna]

I hope this is not another of those MLM thing. They usually discuss this kind of topic, but in the long run will introduce you to MLM thing.

These are my insights

Q: Do you really need Capital to start a business
A: for me yes. base from your definition. We need an asset to generate more asset.

a CAPITAL is defined as assets available for use in the production of further assets. As you can see, a capital doesnt necessarily mean something in a form of money. You yourself is already a CAPITAL if you make use of yourself properly. The problem is, most people think of getting an office, hiring alot of people, frontloading with inventory, and drowning themselves with overhead costs, when what they wanted is to START with the business process first. Every endeavor starts with a first step.

Q: How do you acquire the capital needed?
A: probable answer, use money to acquire the necessary things. So Jeffrey might be right after all.

Q: Is that all that is needed?
A: Nope. Capital is just one factor needed to start a business.

Q: What are the other factors?
A: mr. ybañez already answer some of the factors. Hope More will come.

Q: Why you havent started your own business yet?
A: Secret!!!! sssshhhh!!!!

[freiheit]

What J is sharing applies to all kind of business may it be Traditional Business or MLM. Money is always the end point when talking about business. This has been the reason that keeps some from putting their plans into reality. It seems that if there is no money, then there is no hope.. Its a wrong perspective. You're right everyone needs money, but starting up business really doesn't have to start with big amount.. the point here is that you can start your business even though you don't have big capital.. some are just smart enough to use their talent and skills as a start up capital then when paid, save some for their own future business.. This should be your perspective if you really desired to have your own.. Use any possible resources you have to make it possible. If your working, why not save. Do it every payday. Make a fixed savings.. There are times that we think we can't do it but actually its ourselves that limits us.. You have the power to change your future.. Make a step leading to your plans everyday to make it possible.. everything starts with a single step.. look for inspiration to do it.. your family, the people you want to help, your future family.. you should be inspired 'coz that keeps us going.. there are no limits for success.. remember big things start with simple ones..

[j_ybanez]

Let me clear some things when it comes to the topic of CAPITAL.
Whether you'll be in business or not, you are still going to need money to survive on your day-to-day activities. It's really up to you guys on where you invest your time, money, and effort into.

glenn: Let me educate you about the world of entrepreneurship so that you may set yourself free from the bondage of naiveness. When people invest in your ideas and they grant you money. You don't literally own the business, but you become either of the following:
>>> a Part-owner of the company-like giving you a certain percentage on the profit sharing
>>> an Industrial partner of the business-making you incharge of the operations as being a part-owner of a business
>>> or the invester may give you royalty from your ideas profitability-this is how Bill Gates and Thomas Edison got wealthy in the first place.

dvfortuna: Nice issue. But i suggest you go into whatever business you might be thinking of now. The best time to start your business is now. TOO MUCH ANALYSIS LEADS TO PARALYSIS

freiheit: Thanks for clarifying. Nice job.

God Bless

[orangepink]

"It takes money to make money." This is a principle that cannot be denied.

I agree with Jeffrey here. The amount of capital invested is directly proportionate to its results. Therefore, the bigger the investment, the bigger the loss/profit.

Also, the ABCs Mr. J mentioned can be found when one decides to create a business start-up plan. To would-be entreprenuers, you don't exactly have to make a word document. You just need to have it all outlined in your head. Entreprenuer Phils magazine has an old edition (circa 2003-2004) about creating a start-up business plan. It's quite detailed.

That's just my two cents.

[cebuboybax]

hmmmm... nindot sad ni da.... Nindot nga biz ang pautang