practical tips when starting a business

[AmorsoloX]

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first of all. id like to proudly claim that i am not a graduate of BS entrepreneur and i dont have an MBA.. what i will share is street knowledge.. some them i learned the hard way..

first of all, id like to state again that their is a difference between owning a business and owning a job (self employed, like your the manager,cashier,salesman, production, etc of your biz..

before starting a biz make sure you have these..

1.) written contracts and articles of incorporation if its a joint venture.. here, it is important to write who calls the shots.. and how shares of the business is divided. and how yo put in/pull out capital.. dapat in-writing jud tanan so if worse comes to worse, dili kaau problema..

2.) operations manual.. dapat tanan lihok within sa company according sa rules and regulations.. tanan dire nakasulat on how to run the business, how finances are handled, how should employees wear their uniform.. when i say tanan, i mean tanan.. dire pud nakasulat ang how to produce the goods.. (for example, mag frachise mo sa jolibee, expect to recieve a big bible-like book which you should follow to the letter)

3.) organizational chart.. dapat clearly defined kung unsa duties and responsibilities sa kada tao involved sa business, and make sure the workers follow these heirarchy.. again, these reflects on the operations manual

4.) always have an accountant to do an internal audit on your business(es) at regular intervals to minimize internal theft.. (para di ka mahadlok kawatan sa imo trabahante), the accountant must be from an outside firm..

5.) the customer is always right.. ang purpose sa business kay to provide something nga gipangita sa mga tao.. if naa reklamo ang mga tao, fix it ASAP.. for example. (using UNO as an example ) mo reklamo mga tao wala batasan imo salesmen, take appropriate measures and deliver disciplinary action.. ayaw limot, your reputation is your greatest asset..

a business is a system... composed of many parts which acts together to make you money..

sa dili motoo ani, kay gusto ra ug simple nga biz, try to do these ang i quarantee mas mosayun ang inu operations.. dili ni lisod, kapuy lang himoon..

expect ko nga naa jud ni nga mga feedback..
1.)maau ra man na imu advice kung daghan employees, di man maapply kung gamay ra trabahante
2.)simple ra nga biz ako gusto, dili lisod..
3,) you can never trust your employees.

my answer is, maski 2 ra ka tao imo workers, as long as kabalo sila unsa ila specific tasks, ma streamlined jud imo production.. kung wala sila kabalo, magkalatagaw sila kung kinsa mag cashier,saleman,seksitary(),etc..

you dont need to trust them.. but you must make sure they can follow instructions.. kung sa jolibee pa, maski 4th grader pwede himoon manager as long as he/she can follow the operations manual.. checks and balances ra man jud ng negosyo.. ayaw kahadlok makawatan sa trabahante, mao bitaw naa accountant, make sure imo employees kasayud nga kung unsa mwala, sa ila paycheck deduct..

these are just some tips on how to make a business that will operate even without you.. this is the closest thing to creating life ala frankenstein.. you create something independent from you while it generates you money.. mao ni nka nindot sa negosyo..

feel free to comment on this, negative feedbacks highly appreciated

[keikurono22]

nice thread bro for inspiring people to become a successful biznisman . . . two thumbs up!

[MeMing]

this thread has a good learning potential... at least way better than the other one we have been having fun with for all these weeks... haha!

my take is, this thread is very general... to make our lives easier, we should categorize this and make it as specific as possible... something like, HOW TO START A SERVICE ORIENTED BUSINESS or better yet, HOW TO START YOUR JUNK SHOP BUSINESS would be even more beneficial...

and it would even be better if the thread owners will indeed have direct experience on whatever business... I can participate in the INTERNET CAFE business since I had 4 years of experience in it while being employed as well although I also have a lot of other business exposures which I am more than willing to share pero mas nindot man kung naa tay specialty kunohay gud... hehe...

kamo diha! share namo!

[lorenzoleo]

"salesman" -> entreprenuer

[AmorsoloX]

yeah, i made this as general as possible.. this is my formula for businessmaking.. lahi2x technicalities sa tanan negosyo, pero ang essence mao ra.. to sell a product/service..

saun ni ako gi advice basahon pero i doubt kinsa dire willing mo himo operations manual.. hehehe..

mostly sa mga tao pag mo ingon og business, ang mosulod sa ila mind kay ila own store nga sila ang manager.. (this is what i call owning your own job)

lahi ako.. i imagine a store where people are working for me, maski dili ako nagmanage but still mo earn gihapon ko.. this way, i can operate as many stores as i can and still have time to enjoy life and get bored to death doing nothing.. hehehe. seriously mao ni diadvantage.. laay kaau wala himoon except maghulat sa kwarta.. mao ni leverage, you use your money and other peoples time to make money..

[AmorsoloX]

"salesman" -> entreprenuer

i quite dis agree.. kulang pa.. salesman is just one part of the picture.. you need to be the salesman, manager, promoter.. being a salesman only teaches you how to sell.. kung sa army pa.. mao ni sila frontliners, the grunts..

not all salesmen are entrepreneurs.. but all entreprenuer are salesmen.. dont expect nga tanan tindera sa SM or ayala naa negosyo.. sales bya na sila..

[Hot Ice]

Nice... kaning ingon ani nga thread bah, makatabang gyud ni sa mga tao, kaysa sa "lalis" sa pikas.. hehehe.

Nindot pud unta to info like, asa ka nagkuha initial capital sa imu business, or gi unsa nimu pag start gyud ang isa ka business nimu..

[nagatonichan]

up ta ani.. nice post bro.. hehe

[LAW OF LEVERAGE]

i quite dis agree.. kulang pa.. salesman is just one part of the picture.. you need to be the salesman, manager, promoter.. being a salesman only teaches you how to sell.. kung sa army pa.. mao ni sila frontliners, the grunts..

not all salesmen are entrepreneurs.. but all entreprenuer are salesmen.. dont expect nga tanan tindera sa SM or ayala naa negosyo.. sales bya na sila..

since we're talking bout tips in starting a business, i think it would be a great advantage if you have experienced working as a salesman,be it independent or as an employee. Why? because before you start your own system, you have tried beforehand the rudiments of selling,you should feel how hard and dynamic selling is. Bisan pa ug organized imo system pero you cant sell, or your product won't sell itself. . useless gihapon. Selling is the objective of every business and salesmanship experience is the best training ground for anyone who wants to start his/her own business.

(Gokongwei started as a salesman of soap,kandila ug uban pa diha sa carbon, unya mag lako siya using bicycle padung liloan. )

The most important lesson you will learn about selling to different types of people is that you will learn how to overcome your fears and your self-imposed limiting beliefs.

After all, life is all about selling. everybody was trained to become great buyers, not great sellers.
Want to start a business? experience the art of salesmanship first. . .

(Salesmanship examples: Med-Rep, House-to-house/institution-to-institution/people-to-people salesman, Direct-sellers,Networkers that promotes selling more than recruiting)

The best salesman aren't found inside an establishment, they are found outside, selling practically anything to people from all walks of life.

[LAW OF LEVERAGE]

yeah, i made this as general as possible.. this is my formula for businessmaking.. lahi2x technicalities sa tanan negosyo, pero ang essence mao ra.. to sell a product/service..

saun ni ako gi advice basahon pero i doubt kinsa dire willing mo himo operations manual.. hehehe..

mostly sa mga tao pag mo ingon og business, ang mosulod sa ila mind kay ila own store nga sila ang manager.. (this is what i call owning your own job)

lahi ako.. i imagine a store where people are working for me, maski dili ako nagmanage but still mo earn gihapon ko.. this way, i can operate as many stores as i can and still have time to enjoy life and get bored to death doing nothing.. hehehe. seriously mao ni diadvantage.. laay kaau wala himoon except maghulat sa kwarta.. mao ni leverage, you use your money and other peoples time to make money..

that's the power of the law of leverage bro!

Leveraging people's effort and time for the productivity and efficiency of a business.