How To Land The Best Profitable Business

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Text Copyright © Ivan Colbe
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Table of Contents
Introduction...............................................................................................................5
Chapter 1: Why Owning a Business is a Good Idea................................................ 6
1.1 How to Deal With Things That Are Holding You Back.................................. 9
1.2 When Is The Best Time To Start A Business?................................................10
Chapter 2: Building a Business Idea.......................................................................14
2.2 Best Start-Up Business Ideas Today............................................................... 17
2.2.1 Food Related..............................................................................................17
2.2.2 Service....................................................................................................... 21
2.2.3 Distributor..................................................................................................23
2.2.4 E-commerce...............................................................................................25
Chapter 3: Business Mistakes to Avoid..................................................................27
3.1 How Much To Spend On Your Business?...................................................... 30
3.2 How to Beat Fear of Failure............................................................................ 32
3.3 Business Trend Awareness..............................................................................34
3.3.1 The Importance of Business Trend Awareness........................................ 34
3.3.2 Ways to Improve Business Trend Awareness Skills................................ 35
3.4 Business Killer: The Mañana Habit................................................................ 36
3.4.1 Effective Ways to Beat Procrastination.................................................... 36
Chapter 4: The Factors to Land the Best Business.................................................38
4.1 Creating an Effective Business Plan............................................................... 40
4.2 Marketing your business..................................................................................41
4.3 Building a Network......................................................................................... 42
4.4 Incorporating Innovation on a Business..........................................................44
4.5 Leader vs. Boss: What are you?...................................................................... 46
4.6 Hiring the Right People for Your Business.................................................... 48
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4.7 Building a Relationship with Your Clients..................................................... 49
4.8 Getting into the Right Mindset........................................................................50
Chapter 5: Budgeting for Your Business................................................................52
5.1 Knowing Your Assets and Liabilities............................................................. 54
Conclusion................................................................................................................56
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Introduction
For the last couple of decades, call centers in the Philippines have become the answer to the
increasing rate of unemployment in the country. Today, it has been a norm for many new
graduates and other new applicants to the labor force to apply as call centers. In fact, every week,
Philippine call center companies or even private companies hire thousands under their wing to be
part of the ever-growing industry. Call center jobs and exciting career opportunity may come
hand in hand. By working hard in this field, you can expect to be rewarded with several benefits
and incentives.
But while this could be a great career path for many, with the economic trouble we are facing
today, it seems like the average wage a call center agent gets is not enough – especially for those
who need to raise a family. Or for some, the lifestyle of having their sleeping pattern changed
every so often just seems too unhealthy.
That’s why a lot of hardworking individuals have found the need to escape and try something
new that will give them more chance to grow and succeed. The economy of today has forced
companies to lower the wages of employees in order to avoid firing them. Because of this, many
workers find themselves looking for other possible sources of income. And as you could imagine,
this could be a challenging task.
But with the help of this short eBook, you will learn how to land the best profitable business plan
and escape the rat race lifestyle of being a call center agent.
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Chapter 1: Why Owning a Business is a Good Idea
Today, it’s really not that uncommon for individuals to have multiple jobs. And this isn’t only
because they want to afford the needs of their family, but also to work on the life they are
dreaming of. However, working too hard to a point where you are starting to neglect the
importance of having some quality time for yourself and with your loved ones is not the best way
to go.
There are many reasons why having a business is better than having a job. Being your own boss
is one of the most fulfilling things – financial wise. We’re living in the time where many 9 to 5
job opportunities no longer provides the financial security that it did many years ago, and at the
same time, the cost of living continuously soaring. But then again, there are types of jobs – such
as being a call center agent – that are hard to let go. Some people are just too passionate about
doing a certain job or filling in a certain job position to even consider doing something else. But
just come to think of it… is being a call center agent something you want to do for the rest of
your life?
At this point, you’re already probably convinced how having a business instead of being an
employee could be the best decisions you’d ever make. But still, let us give you a list of reasons
why having a business is better than having a job.
 You’ll Be Your Own Boss
By having your own business, you set the rules and you don’t have to wait for someone else’s
decision to make a move.
This may sound intimidating to those who haven’t run a business before, but because you are
your own boss, there should not be pressure or voices at the back of your head saying that you
did something wrong or you should have done the other way around.
Having your own business means being free to go beyond the limits and following your own
strategies to get something done. You can be yourself even more.
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 You’ll Increase Your Potential Income
Of course, at the end of the day, everyone works for money. But imagine having a job that
doesn’t give you a limit on how much you’re going to make. After all, who doesn’t want
limitless money? Running a business means having an unsteady flow of income.
By doing it right, you are able to get as much profit as you want. And who knows, you might
even earn 10 times more than what you are getting paid as a call center agent!
 You Can Make Your Own Identity
By running a business, you can make your own identity, which is something you cannot easily
do as an employee.
This is not to say that being a call center agent is not something to be proud of –because it is.
This is to say that by having your own business, people would get to know you better – more
things you have to offer. Through your business, you can highlight your character and
personality.
 You’ll Experience the Fulfillment of Finding Your True

Calling
Lack of purpose is one of the main reasons as to why some people feel unsatisfied with their
lives. By having your purpose in life and true passion, you become more confident and happy.
And having a business can truly fulfill your calling.
Think back at your childhood dreams. What did you want to be when you were a little child? Did
you chase your dream? Do you still want to pursue it? If the path of being a call center agent is
not really where you wanted to be in the first place, having a business would be your chance to
finally work on your dream.
Do you want to be a chef? Then have something that relevant to cooking. Always loved art?
Then maybe you want to sell art supplies. Perhaps, it is fashion what you really love. Then have
a clothing line or sell some ready to wear garments!
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 You’ll Develop New Skills
By being a businessperson, you will be able to widen your perspective and to have an open mind.
Along with other things, you’ll start to see difficulties and failures as a learning curve. This
forces you to find new ways of solving problems and seeing the opportunities at hand. It also
helps you develop new skills, learning completely foreign ideas and discovering interests or
talents you didn’t know you have. Because of this, you have the opportunity to become a more
adaptable person.
 You will expand your social circle
Running a business will give you ways to connect with like-minded individuals who share the
same interests and passions. Aside from building professional connections, it can also help build
outstanding friendships with fellow entrepreneurs that you will cherish.
And these connections will give you the opportunity to grow and expand your business. It is
basically a never-ending cycle of new things happening in your life.
 You Will Be an Authority Figure in Your Field
When you are passionate about something, it is going to be easier for you to make yourself an
expert. When you open up a business related to something you really love, gaining as much
knowledge in regard to that subject area as there will be less of a burden and more fun. Your
eagerness to gain more knowledge about your interest is going to help you to obtain expertise
rapidly and ultimately will lead you to be an expert.
Of course, it’s not an overnight thing. However, by deliberately building a professional image of
yourself right from the beginning, selling your idea is going to be very effective. With authority
status, you can attract more money, respect, and a lot of opportunities.
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1.1 How to Deal With Things That Are Holding You Back
You’re probably not really happy with your earning, the amount of time you spend to afford your
daily expenses, or you just hate your job. But even though this is the case, it seems like there’s
something holding you back from trying out something new.
There are many external factors that might holding you back: you just started your job and
you’re still trying to get yourself used to with unfamiliar; you want to spend your time out of
work with your family or yourself; you don’t have enough money to use as investment; you
don’t have any experience; you are just scared to fail. The list of the things that might be holding
you back is endless.
Well, the best thing you need to do is forget all those excuses and look within yourself. The truth
is that YOU are the biggest obstacle to face to attain success.
The first thing you need to do is to clear your mind. Letting your mind go all over the place can
ruin a start-up business that you still haven’t started yet. Being uncertain about your goals and
being scared of what you need to do to reach them is a call for disaster. It’s necessary for you to
know what your purpose is for putting up the business. You must have planned the initial steps
and potential efforts you need to take to make it work. While this may sound overwhelming –
especially for those who don’t have experience – you have to keep in mind that there is no
shortcut. Going on the faster route, instead of the more secure one is surely a recipe for failure.
By knowing what you truly want, you think objectively and not emotionally. Doing this will help
you to plan the best route to what you want for your business and it is going to take some of your
excuses from the picture.
Be brave to find and recognize the problem behaviors and habits that you have that may probably
be holding you back from taking the step to start a business. Do you spend too much time on
social media? Maybe you spend too much money on online shopping? Or do you procrastinate
too much?
When you know you’re ready to critic yourself, then list them all down in a piece of paper. Once
you’re done listing them according to what’s the worse to the least serious, then you can start
trying to figure out how to eliminate them. Eventually, you can look at each of these business-
obstructing behaviors and turn them into positive ones.
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1.2 When Is The Best Time To Start A Business?
This is one of the most commonly asked questions thrown by newbies, but the answer here is
simple: anytime.
Yes, there would always be ups and downs in the economy. However, you can always find
services and products that will always be of high demand. But then again, you have to build a
business relevant to your interest, not only because it is currently on trend. While money is, of
course, should be a priority, keep in mind that if you don't enjoy whatever you’re doing, money
will not last, or may not come at all.
“The best time to plant a tree was 20 years ago. The second best time is now.”
—Chinese Proverb.
By now, you know that there are a lot of reasons why you have to start a business, but let’s talk
about the reasons why you should start a business NOW.
1. Businesses can work out during economic recessions as economic

upswing
Unlike history that repeats itself, the economy runs in a circle – it goes up and down but it
doesn’t stop moving. Every time the economy goes down, expect an eventual upturn – this is
inevitable.
But how does one survive an economic downturn? The key is to market more and market
effectively. The more you promote to sell your product or service, the more people you can
potentially turn into customers.
2. Putting up your business is free with the use of the internet
The beauty of starting up a business today is that you can get started for free. With a computer
and an internet connection, you’re good to go!
Gone are the days you need to have a brick and mortar location to set up as a business venue or
hire people to giveaway flyers introducing your products or services – With some computer
skills, you can build a website with a domain name you want to for your business. Heck, you can
start one with just Facebook which allows you to sign up for free. Today, the internet has
become the best and most effective way to promote your business.
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3. You don't need to have a degree to be qualified
American author and entrepreneur, Tim Ferris, once said that reading three books in a chosen
field will lead to becoming an expert. He used it as a metaphor for people needing to study more
about a topic to be an expert for it.
However, you don’t literally need to read three books to call yourself an expert on a chosen field.
In fact, you can literally read a hundred books on a certain topic and ending up not being an
expert on it. Becoming an expert on something involves not only being well-versed but also
being able to consider and see the topic clearly and resourcefully. In order to do that, you need to
put your heart to it, keep learning – either on your own or with a mentor and having an open
mind. Becoming an expert is an endless journey or learning something new and using it to your
benefits.
And what’s the better way to learn something new aside from getting resources online? Today,
you can literally learn everything online. Of course, you wouldn’t want to learn about surgery
and claim you to be a doctor or learn about airplanes and have the confidence to fly as a pilot,
but being an expert in entrepreneurship is possible without a degree – your best friend is your
common sense.
4. Waiting would not take you anywhere
The main and most important reason why NOW is the right time to start a business is that if you
do it later, you are wasting money! Yes, you can always start later, but this also means that you
are waiting for the day to come you’ll look back and regret it. Just think of the money you could
have had if you started earlier!
Even though the business you set up doesn't work, it’s still not going to be the end. Failure may
come and a lot of successful businessmen experienced it before they reached the pinnacle of
success.
5. It’s a good investment for retirement
Before retirement was a “thing,” people would work until their dying days. Today, things have
changed – people work hard while they're young in order to save money, enough for them to not
be required to work to survive when they reach senior age. But it doesn’t always have to be that
way.
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By having a business of your own, you can use it to save money faster for your retirement OR
you don’t have to retire at all and run your business for as long as you want regardless of your
age. After all, by running a business that you want, you wouldn’t feel like you’re working at all.
Is there a right age to get started?
In today’s world, the bar to diving in the world of entrepreneurship and running a business has
been set very low that the only reason for people not having their own business is fear or laziness.
But is there really right age to start one?
To tell you frankly, there is NO right age, you can start no matter how old or young you are BUT
there is an ideal age.
Generally, the ideal time to start a business is while/when you don't have family obligations and
can spare a lot of your time building it. This is usually during your early to mid-20s and late 50s.
Okay, you’re probably confused and thinking that people more than the age 50 no longer have
the energy or brainpower to deal with stressful and hectic entrepreneur life – but you’re wrong.
In fact, middle age people can be the best kind of entrepreneurs as they have fewer
responsibilities.
If you don’t have family or not planning to have one, then the age of 35 to 40 years old could
actually be a great age. It’s possibly the best time as this is when you’ll have the best
combination of experience as well as energy. While you probably won’t have the same thinking
process brain as a 24-year-old, you'll make up for it when it comes to experience and expertise.
But then again, a lot of accomplished entrepreneurs do have families. So, if you are planning to
have a family of your own or already have one, don’t let aforementioned put you off. It might be
a bit more challenging, but don’t let having family responsibility hold you back from running a
business.
Most call center agents in the Philippines, however, are at the age of 18-29. Do, if you are in line
with this age group, then it’s best to follow the reverse bell curve and get started earlier.
The quick-thinking skills of a young adult are crucial when it comes to undertaking different
tasks needed to start up a business. On top of this, they have the energy and fire to make things
work.
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While it’s true that most 24-year old persons would not have the same knowledge and experience
as most older people would, but just come to think of it, everyone – regardless of the age – are
likely to commit mistakes if it’s their first time. So, just start as soon as you can and give the best
you can.
All in all, as mentioned earlier, the best time is now. Just forget your age – after all, it’s just a
number, right? Starting as soon as possible would be the best time. As long as you’re ready to
face the possible risks and have the resourcefulness, energy, determination, and passion to get
started, it really does not matter if you are 15 or 51; it is never too early or too late to start a
business.
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Chapter 2: Building a Business Idea
This can’t be stressed enough: The best business ideas to start a business – whether online or
offline – are the ones you really like. If you’re really serious about having the best profitable
business online, regardless of what business venture you are going to pursue, then choosing a
niche you are passionate about is the way to go.
It’s fact that the most lucrative business ideas originate from knowing precisely what to do and
how to get started. Again, this is not to say that you have to be an expert in that field before you
start diving in. The most important thing is the eagerness and enthusiasm to learn everything you
could before you waste your time and funds trying to make things work out.
It’s all about finding the right outline for your business. This is going to be your guide and a
starting point – so that you won’t fall in the abyss in nothingness. It is going to give you the
exact instructions on what you have to do when it comes to steps that you have to take to create
your business strategy. But before you go ahead and try to strategize how you can attract
potential customers to buy your products or services, you must focus first on the simplest, yet the
most crucial step of building the outline for the best profitable business – deciding on what
business to start.
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2.1 Simple Steps to Generating the Business Ideas
It’s not easy to generate the right business idea, especially if you’re by yourself and have no idea
how to carry it out. But if you brainstorm, you can get your hands on great ideas that can bring a
successful business. Brainstorming is simply a way to make you think about something with
other people at the same time, normally with the intent of solving a problem and getting an idea
from it.
“If you have ideas, you have the main asset you need, and there isn't any limit to what you can
do with your business and your life. Ideas are any man's greatest asset.”
—Harvey S. Firestone
If you find it hard to generate idea on your own, you can involve your family, friends, or
colleagues to support you. This is a very good idea as combined brainpower, participating to
deliberate on a specific topic, can stimulate ideas and solutions a lot better than doing things
alone. Here are some tips you can follow to generate ideas worth millions.
Step 1: Look for problems that needed to be solved
The best business ideas originate from your problems you need solutions for. The second best is
from the problems other people need a solution for.
Most of the products and services existing today were actually made to solve problems. Some of
the great inventions include sunglasses to protect eyes from the sun, shopping bags to carry food,
comb to keep hair in place, food delivery so people can eat their food in the comfort of their
home – it is endless!
You just have to be good at identifying problems. When you finally realize that all your own
frustrations can actually be a good source of ideas, you’ll see how fun the practice could be!
Step 2: Get as many ideas as you can
The more ideas you get the better. You should have an open mind and think that there is no such
thing as a bad idea. No matter how crazy they may sound, it’s best to consider them.
Each member has to feel free to give ideas no matter how impossible or silly they may sound.
Keep in mind that every idea is a good idea because one of the best sources of good ideas is bad
ideas.
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Step 3: Sort the ideas
Once you gathered the idea from other people and from yourself, the next step is to narrow down
the list. Look into each of them and assess it derived from your selection standards. Here are
things you need to consider:
1. Do you find the problem interesting?

2. Do you have ideas on how to improve or solve them?
3. If you’re facing the same problem, would you be happy to spend money on it?
Sort all the ideas you came up with and narrow them down to three ideas. From those three, you
can choose the winner.
Step 4: Selecting the winning idea
Usually, it’s going to be easy to see the winning idea. There’s always one on the list that makes
you feel excited and eager. However, this is not always the case, of course. If you feel unsure,
you can always repeat the process again. You must go for an idea if it really makes you inspired.
Lastly, you have to remember that if you’ve been finding it hard to create ideas to start a
business, don’t give up right away, we live in a fast-paced world where convenience is
everything. One way or another, you will be able to find something that will people benefit from,
and take that as an opportunity to generate income.
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2.2 Best Start-Up Business Ideas Today
While there are thousands of business opportunities available online, still, the best business ideas
that are proven to have a higher success rate are the brick and mortar ones. Here are some ideas
to help you plan out your business.
2.2.1 Food Related
A lot of people choose the food business because, of course, people have to eat to survive. And
again, the best way to make a business is by giving the people what they need! On top of that,
setting up a food-related business from scratch normally don’t require a big investment, this is
especially true for franchising business. Franchises generally need less of a financial investment,
and because of their name is already known by the public, there’s a big chance for it to be a hit.
But of course, when considering starting up a food-related business, deciding what kind of food
to sell is going to be the first step. In case you do not have a particular preference, then consider
what you think is most profitable.
Of course, it’s not easy to predict profitability no matter what kind of business venture you’re
going to pursue. There are a lot of unknowns and variables to make it work. But one of the most
effective ways is to pick a food-related business that people would want to eat every day.
The following pages are some popular food-related businesses today and therefore most likely to
work out.
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Food Carts
Starting investment price: ₱30,000-₱300,000
A lot of countries have a flourishing food cart business, and one of them is the Philippines,
which have accomplished far-fetched fame with this line of business.
The Philippines is known to be Asia’s franchising hub due to copious and unique businesses
Filipinos have thought of. The food cart is obviously the most well-known type of business in the
country and a lot of people have been successful with it.
But before everything else, there are important things to consider. These considerations are very
important to have a successful food cart business as this is going to determine the money you are
going to get from it. Three are the most important tips you need to consider before investing in a
food cart business.
1. The Right Location
This is no doubt the most important thing you need to put into consideration before putting up a
food cart business. It doesn’t matter how popular the product is, or how many hours you spend
trying to make everything placed in order if your business is not located in the right place, it is
just not going to work out. Find a place with heavy foot traffic and where people can easily
notice your cart.
Fortunately, the good thing about the food cart is that because it has wheels, you can easily move
them just about anywhere. If you choose a location and it turns out to be dead space, you can
search for another spot. You will have the freedom to move around (as long as it’s within the
regulations.)
2. The Food You’ll Sell
Another important consideration, of course, is the food you are going to sell to the public. See to
it that the people who are going to walk by your food cart will be tempted to try what you are
selling.
For instance, a cart that is selling cotton candy is not likely to work or professionals walking
down to their offices. Your goal is to make the most out of food by selling your products to the
right target audience.
No matter how small or big your business is, it’s important for you to check whether it is going
to be alluring for those who are going to see it every day.
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3. Franchise or Original?
The good thing about franchising is that you no longer have to worry much about planning as
well as execution because that has already been done, so all you need to do is to run the business.
On the other hand, having your own brand means you will be able to save a lot more money to
start. However, this also means starting everything from scratch by creating a business plan and
figuring out how to execute it.
You would also need to create your own brand – from the name and the theme, to the logo and
the recipe of what’s on the menu, and all things that will make you recognizable among your
patrons. So, if you are planning to have your own brand, make sure that you are ready to invest
not only money but also extra time and effort.
But at the end of the day, whether you decide to franchise or just have your own, the most
important thing is the quality of what you are going to serve. Not only it has to taste good, but
because you’re a food cart business, you must serve convenient food that is easy to grab and
munch on. Also, make sure that your customers don’t have to wait for too long for their food to
be ready.
When all is said and done, if you found a success in your food cart business and have generated a
good reputation for your brand, then you may consider franchising your own brand. That’s where
you could really start to see money flow to your bank account. This way, you’ll be helping other
start-up entrepreneurs get started to like how you did.
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Restaurants
Starting capital: ₱50,000-₱2,000,000
As long as you have all the resources you need, it’s not going to be too hard to start a restaurant
business. It’s important to take in all information you can get about starting this kind of business
to make sure that it’s going to be profitable.
Anywhere you look, there’s a big chance that you’ll see a restaurant serving food to its hungry
patrons and this is proof that a restaurant business is a good business idea. While there are clearly
a lot of reasons why many people decided to put up this kind of business, the fact that everyone
needs to eat should be enough reason why a restaurant business could be a good idea. And while
most people can cook their own food, the convenience offered by restaurant can just save a lot of
their time.
You only have to consider all the factors to make your restaurant successful before you go out on
your way to start one. Together with it is the hard work and preparation that you have to commit
to in order to reach your goal.
Healthy Meal Delivery

Starting capital: ₱2,000-₱50,000
Food delivery service is growing in popularity today – that’s why it’s the perfect time for you to
dive in it. You will see a lot of local celebrities on Instagram posting their healthy 3-meal plans
for the day delivered by a food delivery service wanting a free tag and shout out.
It’s not hard to see that fitness and health is one of the largest industries in the world, that’s why
having a business relevant to it is truly a smart thing to do.
It’s also pretty obvious how life gets busier and busier among people who work away from home,
and cooking something healthy is hard to put in between jobs, family, and other things.
In this business, all you have to do is to learn how to cook and to have an understanding of
nutrition.
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2.2.2 Service
Starting a service business is another fast and smart way to make money. With the use of your
skills and resources, you can get started whenever you want.
A service business is an enterprise built and maintained to provide services to both commercial
and private customers. A lot of service enterprises require small start-up capital in comparison to
retail or wholesale businesses which may require a bigger financial investment.
Most service-oriented businesses are usually local. When you look at the local listings, you’d see
a lot of businesses that could be listed in the service category. Below are three services you may
want to consider.
Travel Agency
Today that more and more people are enticed with the idea of traveling – thanks to social media
where #travelgoals have been a thing – having a business that has something to do with traveling
is also a smart choice.
People search online for the best travel deals – take advantage of this!
Putting up a travel and tour agency doesn’t really require a huge capital. It could be an exciting,
enjoyable, and profitable business option for those who want to have a business. This business
has a great potential because the travel industry is progressively growing as the population keeps
growing and per capita revenue endlessly grows its market. Aside from the profits from the
business, you may also enjoy the travel perks it comes with.
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T-shirt Printing
Clothes are a very important human necessity. Every person, not only in the Philippines but also
all other parts of the world, need clothes. And not only clothes give us a sense of protection, but
they also allow us to express ourselves through fashion. From producing school and company
uniform to gowns and just daily clothing, all of these are only some examples of types of
clothing that we can make profits from.
To start a t-shirt printing business, you need three things: skills, knowledge, and of course, the
right equipment. Don’t have the three? Easy! First of all, you can easily learn the necessary skills
and knowledge by watching YouTube tutorials. There are also free eBooks and articles you can
read online that teach the right information you need to know. Secondly, you wouldn’t be
required to spend a lot on materials you need to get started. In fact, you can even buy secondhand
equipment that is even cheaper.
Carwash
Do you want something that is a little bit safer? Then you may want to consider a car wash
business, which is something that offers regular profits.
It’s not something that would make you a millionaire overnight, but it’s a good option if you
don’t have a lot of money to put in on a business or you’re just looking for something that would
give you a continuous flow of income.
Just like any other businesses, the carwash business also has its own special ingenious techniques
to be carried out successfully. It’s certainly a sure-fire profit maker if done correctly. This means
that no matter how simple carwash business may sound, there are still some skills you need to
learn to be successful at it.
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2.2.3 Distributor
Starting a distribution business in the Philippines can be a very profitable and commercial option
for hopeful entrepreneurs. On top of that, the business requires comparatively less capital
investment compared to manufacturing operation.
Starting a distribution business demands particular knowledge and intricate planning. Not only
you must learn how to manage finances but you must also search through the list of companies
that are selling your target products.
A distribution business is a very exciting opportunity to operate as long as you know what you
are doing. It normally involves big transactions rather than itty-bitty money dribbling inside your
pocket.
Soft Drinks
Soft drinks are one of the staple drinks in the Philippines. A lot of us drink soft drink them on
regular basis and it’s to see them in the Filipino table during lunchtime or merienda time is quite
common. That’s why there’s no doubt that soft drinks dealership business could be a great idea.
Apparel
Clothing and apparel distribution business is another good idea. People anywhere in the world
love the idea of buying clothes and because fashions come and go, a lot of people change their
style more often than you probably think.
The fashion industry has equally structured how people want to buy designer brands as well as
quality goods. When it comes to wholesale apparel, starting up your own business is not as
complicated as it looks.
As long as you have enough investment and you know what you are doing, starting a clothing
line wouldn’t be too difficult. This is particularly true for people who are starting up.
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Beauty Products
The cosmetics industry produces billions in sales worldwide. And due to the high demand for
cosmetic products, this industry is seen to continuously offer a profitable opportunity for those
who want to get into this line of business.
There are a lot of ways how you can cut your share from the big annual revenue recorded in this
ever-growing industry. This business option doesn’t require any form of formal qualifications,
and more importantly, it doesn’t require a big financial investment.
The only thing you need in order for you to get started being a cosmetic distributor is skills to
highlight facial features, an entrepreneurial mentality, starting capital, and of course, eagerness to
succeed. If you think this is a type of business you would like to have, don’t be afraid to plunge
in and take the chance.
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2.2.4 E-commerce
Within a matter of decades, the reputation of e-commerce websites has improved drastically. The
busy life, fast-paced lifestyle, lack of product management, and the convenience brought by
technology have cast a spell behind this rapid hike.
Today, ordering people’s needs online has been very common. Well, who’s not going to love the
idea of browsing products online from the comfort your home and then getting what you ordered
delivered to your doorstep?
The comfortable deals offered by e-markets also benefit entrepreneur who has small money to
spare for investment. E-commerce has truly equipped business and has given it a new meaning
on the customers and sellers relationship.
Wholesale
The wholesale business includes marketing of products to retailers. The selling could as well be
done to institutional, industrialized, mercantile, other business organizations on top of resellers
who demand the products in volume and again sell them to individual consumers.
As state-of-the-art communication and engineering science are now equivalent to mobile phones
and computing devices, wholesale transactions are usually done online. Just like the dynamic
street markets, there are a lot of jobber websites you can find on the internet. They spread
productions to people they don’t even meet in real life, based in different parts of the world.
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Retail
Online retail is another ever-growing business today. The standards to enter the industry are very
low, while the opportunity to earn a lot is very high.
Just like most of the aforementioned business ideas, being a successful online retail business
shouldn’t be too difficult as long as you know what you are doing.
To get started with your online retail business, you must refine your products in order to get
more clients. If you find it difficult to accommodate big orders, you must try to look the
suppliers looking to get orders in minimum quantity. There are times when the suppliers demand
a few portions of the ordered amount to be delivered ahead. You must keep this factor in mind
and see to it that you have enough funds to continue. If not, then you can always be open and
negotiate.
Drop Shipping
Another business idea that is gaining popularity today is drop shipping. Its popularity mainly
comes from the fact that it requires no to little monetary investment to get started with.
But what is drop shipping? This is when a supplier holds products and let other companies or
individual sell them online without having to deliver or ship the products to them. Instead, the
supplier will ship the orders directly to the buyers on behalf of the company that listed and sold
the products.
This means you don’t need to have some sort of storage unit or even a big investment to start up
with it. You just need to have an online store, good communication skills, and eagerness to make
it work. This would also be a great chance for you to test the water to see if you are going to do
well without having to risk too much.
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Chapter 3: Business Mistakes to Avoid
There are a lot of studies of small-business failure rates. However, the results are usually vague
because, unlike publicly managed corporations, most private companies don’t report their
financial gains. But one thing is for sure, many businesses fail, especially the small ones.
But why do many businesses fail?
Being an entrepreneur is far from being easy. It usually requires a number of skills to have a
successful business. In order to survive the harsh world of this competitive industry, there are
many factors to consider dodging failure. Here are some reasons why a business fails.
 Wrong Mindset
To make a business successful, you need to have the right mindset every entrepreneur must have.
As an entrepreneur, you must know how to take a risk and plan ahead, which gives you the right
skills to run the business well.
Having the right mindset also attracts the right people that will help you attain your goal. Having
the mindset aside from this is one of the main reasons why a business fails.
 Bad Leadership
As said earlier, a business can only be successful if you choose to be surrounded by the right
people carrying the right skills – these people are normally inspired to do their best at what they
do. One of the things that inspire these people is the way you, as the leader, run your business.
You must know how to inspire and guide your team towards your resolute goals. A lot of
entrepreneurs don’t have this quality and how you can describe them fit the role of a manager
more than a leader.
 Lack of Customer Data Base
The lack of customer database is another reason why businesses don’t succeed. For a very
obvious reason, the customer database is a very important resource for your business. After all,
without them, your business wouldn’t exist.
You have to learn how to build seller and customer relationship. You can effectively do this by
answering their questions and inquiry in a timely and professional manner.
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 Lack of Skills and Knowledge
Today, people without skills or proper training just jump in. They think that when they let people
know about their products or services, they are guaranteed to be successful.
But of course, it doesn’t work that way. You need a lot of research and possibly experience or
even mentoring. Don’t assume that because they look easy, they will be. A business definitely
requires an effort, and many times, more than you’ll ever think. But one thing is for sure: it’s
going to be worth it. Your skills and knowledge will be your launching pad for success.
“Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on
with improving your other innovations.”
—Steve Jobs
 Not Having a Business Plan
This is probably the trickiest part of starting a business, but also the most important. Having a
business plan is very important as this will give clear understanding as to where and what you
want your business to be. On top of that, it will tell you how you are going to make it happen.
By having a business plan, you will have a roadmap that will guide you on how to run your
business and make it successful.
 Bad Advertisement
Advertising plays a major role in the business industry. This is quite very obvious because it’s a
way to communicate to sell products or service. However, many people don’t do it right, which
leads to business failure.
You have to keep in mind that the best way to generate sales and profits is to reach the right
target audience. Or in other words, you have to make sure that your advertising reaches the
people that are really interested in the product or service you are trying to sell
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 Having Money as The Only Reason
There’s no doubt that money makes the world go round – after all, everyone needs money to
survive. However, by making money your goal in running a business, there’s a big chance for it
to fail.
You can find money in many places and if you make money your goal, there will be no progress,
there will feel no reason to strive more as you’ll think that money will always be there. On the
other hand, if you let your business be driven by passion, you will be inspired to move forward
and it will keep you on track even more.
 Setting Unrealistic Goals
Another reason why many startup businesses fail is for the reason that they set unrealistic
expectations. Keep in mind that you can’t expect to make millions in a matter of weeks while
your investment is pretty small. Having these expectations can make you fail and feel
discouraged.
Set goals that you know can happen. If you’re trying to achieve a specific target in a certain
period of time, for example, one year, you can break it down into small targets, let’s say monthly,
then and divide that more into weekly, then daily targets. By doing this, you’ll have to work hard
every single day towards reaching your short-term goal without realizing you’re almost
approaching your original goal, which is one year.
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3.1 How Much To Spend On Your Business?
One of the most commonly asked questions about starting a business is “How much money
should I invest in a business?” This is a good question and something that really requires an
answer, however, the BETTER question is, “How much can I afford to invest in a business?”
You have to keep in mind that you’re going to quit your permanent job to pursue a business, but
you still have bills to pay and other basic necessities you need to buy. A lot of first-time
entrepreneurs make the mistake of underestimating their regular expenses while overestimating
the prospective profit their startup business is going to generate. A lot of businesses don't
actually generate profits in its first year. Because of this, you must have at least six months of
living expenses saved in your bank account.
What Are Your Expected Returns?
If you’re thinking about starting a business, one of the first things you need to think about is the
returns on investment you will acquire.
For example, if you’re starting a business that requires you to invest 300,000 pesos, you need to
ask yourself how long it will take for you to get your investment back. If you’re just going to
20,000 pesos as a monthly profit, this means that it will take you 15 months get ROI. This means
it is going to take you more than a year to start getting an actual profit in your business.
If this is the case, you need to ask yourself if you’re really willing to wait that long before you
make actual earnings. Due to the long turnaround time for an ROI, a lot of new entrepreneurs
choose a business opportunity that requires a lower startup investment.
On the other hand, if you just spent 30,000 pesos to start your business and you ended up making
a profit of the same amount, then you don’t have to wait for too long for you to get your return
on investment. Keep in mind that only because a business opportunity sounds good or trendy,
doesn’t mean it’s always going to work. That’s why you need to do your research and be realistic
of what outcome you may get.
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Consider Your Experience
When trying to evaluate prospective business ideas, you should really consider your business
strengths and weaknesses. You must carefully look at what experiences you’ve had being a call
center agent or working for other positions.
For example, because call center jobs usually involve speaking with customers, then you must at
least have had some experience how to handle customer concerns or to market your products.
Similarly, if you’re thinking about starting a restaurant, then you must at least also have some
experience cooking and if possible, management experience for operating a
restaurant. Unfortunately, a lot of business opportunities available minimize the importance of
the actual real-world experience in any kind of industry they’re trying to promote.
There are a lot of restaurant businesses who promise that you’ll not need to have any previous
experience in that industry to be qualified, but studies have shown that having an experience
would be very beneficial. Because of this, you may want to try to choose a business that is going
to be relatively easy to run and has a product or service that you know something about.
“In the business world, everyone is paid in two coins: cash and experience. Take the experience
first; the cash will come later.”
—Harold S. Geneen
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3.2 How to Beat Fear of Failure
When it comes to reaching your goals, fear or failure can be a big problem.
Who doesn’t want to be successful at reaching their goals, right? All of us dream big, and to
achieve that dream, we tend to make plans. But then something comes to picture... your fear of
failure. The thing is that you need to do what it takes and know how you can overcome those
fears. You shouldn’t have it forever.
The fear of the unknown is the first obstacle you need to go through on the way to success. As
you know, it’s so easy to get stuck in the bubble of comfort zone where everything is familiar.
You’ve been doing them for so long that when a new business opportunity comes around, you
choose to avoid them. But you have to know that diving into a business means meeting the
unknown and doing things you’re probably not used to.
“All the concepts about stepping out of your comfort zone mean nothing until you decide that
your essential purpose, vision, and goals are more important than your self-imposed
limitations.”
—Robert White
Now you feel that the fear of unknown takes over. It’s the time. Do you want to change your life,
but you’re afraid what this change is going to bring? You feel fear clawing your throat thinking
that you have to do something that is too difficult? Well, you have to keep in mind that you need
to face the unknown not to only reach your goal but also to achieve self-growth. Imagine the
regret you’ll have a few years forward for not doing things you could have done earlier. You
might have failed? Well, what if you haven’t?! And if ever you have, at least you’ve tried. At
least you’ve learned.
Fear and failure can be inevitable and is an important part of the learning process. Our emotions
towards failure can sometimes deliver good teaching and learning methods.
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How about the fear of being judged?
When you were a little kid, you used to tell about your dreams or what you want to be when you
grow up without fear. Then teenage years come, you started to worry about telling people what
you want due to the fear of being judged when you fail. You’re afraid that you’re going to get
laughed at by people, if you fail to achieve what you claimed you would. And because of that,
that fear usually holds you back from taking risks. This kind of fear is what stops you from
showing up your creativity and confidence.
If you’re stuck because of the fear of failure, then you must push yourself to get up and stand tall
and put those voices aside that putting you off to do what you got to do.
You must stop for a second and realize that you are doing this for you and not for anyone else.
Always remind yourself that you are valuable, worthy, and needed. You will be amazed at how
significantly empowering this is going to be.
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3.3 Business Trend Awareness
Business trend awareness is a type of skill that refers to a person’s ability to be updated with the
changing ways businesses are evolving.
For example, the power of online presence for running a business that blooms originated from
the trend of using the internet. Because of this, it’s now believed that startup businesses that also
operating online tend to be more successful by 40% compared to those who stick to brick and
mortar business.
Having the knowledge of what’s trendy and being aware of how they are going to influence your
business decisions is what ultimately makes your business successful.
3.3.1 The Importance of Business Trend Awareness
If your business isn’t something that can initiate a booming trend, then the best thing you can do
is to follow the trend. Because of this, the importance of business trend awareness skills on
people running a business has been crucial. Here are the benefits one can get from having such
skills.
 Better predicting ability. If you have a good understanding of the current trends and
forecast the ones that may come up, it’s going to be easier for you to plan out your
business development. This will allow you to make better deliberate decisions, take
advantage of good business opportunities, and survive the harsh competitions your
business may have to deal with.
 Overall business improvement. By knowing all the ongoing and upcoming business
trends, it’s going to be easy for you to compare them your present strategies. Anything
that doesn’t work should be improved.
 You will know what people want. You run your business for your consumers, and
consumers love new things. Providing them with something new is a good way to keep
them buying your business and to attract new people to try what you have to offer.
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3.3.2 Ways to Improve Business Trend Awareness Skills
If you think that you’re not skillful when it comes to knowing and predicting the present and
upcoming business trends, don’t fret; there are ways for you to change that.
 Start at yourself. You can get started by identifying all the trends in your own business,
then after that, you can move to other businesses. Do you notice any sales decline on the
products that used to generate a lot of sales? Are your present or potential customers
asking questions that you never heard of from a customer before? If yes, then chances are
there are some business trends you need to be aware of.
 Observe your competitors carefully. The best source of business trends is sometimes
your competition. It is not always easy to dig in too deep on other company’s means of
operation, but knowing anything you can about what the leading company is doing and
comparing your difference, you can predict the upcoming business trends.
 Attending conferences. Another good way to improve your business trend awareness is
by joining local events or signing up for training. Having head-on discussions with
coworkers could also be extremely helpful. With the chance of getting involved in
information exchange, you are able to keep yourself informed on what’s going on around
you, and of course, improving your overall business trend awareness.
Does it mean businesses should only follow what’s trendy?
NO.
This is not to say that only businesses following trends have the potential to succeed. Similarly,
not only because you are following the trend, it’s going to work. Some businesses are better the
way they are because that’s what your patrons are used to.
Take the Snapchat app for example. Most apps are updated on regular basis, but most of them
don’t make drastic changes on their interface because that’s what people are used to. Snapchat
made a huge mistake of changing their interface. They got a backlash from users and lost about 3
million users just shortly after.
Changes are good, but not all the time, and more importantly not on the business. Still, the best
source of trends is your patrons. Ask what they want. Put yourself in their shoes and ask yourself
what you would have wanted.
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3.4 Business Killer: The Mañana Habit
The Mañana Habit is something that we have adapted from Spaniards. The word “Mañana” is
literally translated to tomorrow, in English, and refers to procrastination. Or in Filipino term,
mamaya na.
Business goal, business accomplishment, or whatever you want to call it, cannot succeed if you
let procrastinating run your business, more so, your life!
“Procrastination is one of the most expensive invisible costs in business today.”

—Rory Vaden
When it comes to business success, priorities, and values, procrastination is the devil. It’s so easy
to get lost on track and focus on things that don’t matter. This is especially the case when you
don’t know the purpose of your business and if you don’t have plans on how to run your business
successfully.
When you successfully overcome procrastination, it’s going to be easier for you to focus on
things that you should be doing to run your business successfully,
3.4.1 Effective Ways to Beat Procrastination
1. Think of the benefits you’ll get when you reach your goal. One of the best motivations
to get up on your feet, start working, and leaving all nonsense behind is to focus on the
possible outcome after doing the hard work. What will you get if you succeed? You can
afford to buy your dream house, or you can finally take that overseas vacation, or you can
finally hit seven digits in your bank account! Always stop for a second realize what are
you doing it for.
2. Learn the art of discipline. Most people fall in the pit of procrastination every time they
get distracted from the things they’re supposed to do. By knowing how to perform self-
discipline, it is going to be easy for you to resist distractions and just focus on the task at
hand.
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3. Build confidence. Your hesitation to start a hard task is usually instigated by lack of
confidence. Some may second-guess their skills to do a task and delay for as long as they
can. But when you believe in yourself and you think you can do it, then will nothing to
stop you.
4. Follow your plan. Plans are set up to make sure that a person finishes the tasks needed to
be done. If ever something comes up, you can take note and acknowledge it, but always
stick to the plan.
5. Give yourself a break. Don’t deprive yourself of having a short break. Just like anyone,
you need some sort of break every now and then so you can breathe and revitalize your
body and mind to do another task. On top of that, having a good reward by the end of the
day will also help in preventing procrastination as it encourages you to finish your tasks
at a certain period of time.
All in all, you’re stronger than procrastination and you can always do better. If you find yourself
trapped in procrastination, know that there is always a way out – you control you.
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Chapter 4: The Factors to Land the Best Business
Searching for the best business ideas online can leave you totally overwhelmed. There is an
alarming amount of ideas and opportunities available, which makes finding the right one for you
pretty complicated. You’ll find small business ideas, home-based business ideas, and franchises,
along with other opportunities that will help you to earn a living. When choosing the right
opportunity, there are definitely some important things to consider.
In a lot of cases, new businesses are not going to turn over a profit and there are a lot of reasons
why this happens. In order to be one of these businesses, doing groundwork before choosing any
business idea for you is going to be necessary. The following factors are what you need to
analyze in order for you to commit to any direction.
Capital Investment
A lot of start-up businesses fail due to lack of funds. Before you start your search for the best
business ideas, you must determine how much you’re willing to invest. If you’re planning to loan,
it would be important to look at your borrowing capacity and the equity you have to use as
collateral. You must keep in mind that your financial position will significantly impact what kind
of business you should choose.
Business Skills
A lot of people become over-zealous, and they quickly chase any opportunity that stumbles upon
them to improve their life. The biggest mistake these people seem to commit is the fact that they
don’t pursue something without acquiring the skills needed before committing to a business
endeavor. Before taking the jump into the business world, having the right skills gives you an
edge and confidence that it’s going to work.
Passion
This is something that couldn’t be stressed enough. An aspect that brings in motivation in a
person to carry on with any business endeavor is passion. Without passion on your business
venture, you’ll soon feel dishearten and quit once the business challenges arise. Having passion
in everything do is a component that will direct you toward success.
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Saturated Markets
Doing a comprehensive feasibility study before you commit to a venture is another important
thing you must do. It is necessary to delve into your target market and sees whether what you’re
planning to offer is really needed, and if it does, determine how many competitors you will have
to face. Getting into markets that are over-supplied is not always the best idea.
Location
If you’re planning to open up your business offline, then finding the best location for your
business is a must. But aside from finding a strategic location that can be easily seen by potential
clients, other things you must consider include security, parking area, and proximity of
competitors.
After analyzing the business opportunities available, formulating a business plan is the next thing
you need to do. It’s necessary to have an in-depth business plan because this will help you gain
investors and it is also going to offer an element of influence if you’re planning to get a loan
from a bank.
While the list mentioned is not in-depth, it shows the most important factors you need when
building up the best business idea for you.
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4.1 Creating an Effective Business Plan
A successful business starts with a good business plan. Your business plan will define your
business as to how you are going to go on making your business successful. It will show you a
clear picture of your business when it comes to your ideas and goals.
The plan reflects how you plan to operate your business. How you plan to market your product
or services. It provides a financial picture of the company.
If you need to source money to fund your business, planning comes even more important. When
borrowing money, investors and lenders would likely to ask for written documentation in a
business plan showing your financial situation.
Why would they want to see this information? Well, simply because they’re the ones to take the
risk of lending you money for your business.
When you have a plan prepared, following it should be the next best thing. If there is a goal you
are trying to achieve, always stick to the plan. If you fail, don’t be afraid to start over and analyze
your plan and what’s wrong and why it has happened.
A plan is not set in stone. In fact, there are times when changing it is necessary. Changes are
inevitable, so, prepare yourself to make possible amendments to your plans and tactics.
You see, having a business plan is very important. Try to ask any small business that turned out
to be successful if they used a business plan and “yes” would definitely be their answer.
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4.2 Marketing your business
Marketing is another integral part of a business whether it’s big or small. Business simply
wouldn’t work without it. After all, there’s no way for your potential customer to exist without it.
If your target market has no idea what you are trying to sell, you get different variables that
affect your marketing effort’s success. While it’s not impossible to get clients even without
properly marketing your products or services, it is a lot likely to take time.
Before spending money on advertising, make a brief compilation of the information in the
following steps below.
1. Identify your reason for having the business. Know the clear reason for having the
business and let people know about it.
2. Define the product or service you offer. What are you going to sell or what are you
going to offer to the people who will know about your business? Let them know and from
there, they are the ones to decide whether it’s something they need.
3. Know why you are better than your competitors. Always expect that you may have a
lot of competitors. That’s why you must know your leverage and you must let people see
it without hitting below the belt on your competitors.
4. Describe your customers. You must get to know who your potential customers are in
order to effectively send your message to the right target audience.
5. Know where to market your business. Demographic information is important in terms
of making the right decisions about where to market your business. For example, there’s
no point to marketing your business globally if you’re only going to sell your business
within your town.
When making business marketing plans, it’s always a good idea to put yourself in your
customers’ point of view. Would you buy the product if someone sells it to you the way you’re
marketing it?
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4.3 Building a Network
Whether you’re running an online or offline business, building a network would be necessary.
The bigger your network is, the higher the possibilities for your business to succeed. By having a
bigger network, your marketing would be more effective and you’ll have more support system to
help you make things effective.
Luckily, building a network has been made easy by the internet. You can connect and
communicate with people within just a few clicks on your computer. Gone are the days you need
to make phone calls and spend a lot of money promoting your brand!
As a business, you must have records and contact information of every person who you made
transactions with. After all, it’s always easier to sell products to people who have tried your
company compared to finding a new one.
Here are some of the ways you can be successful at networking with people:
 Get into a networking mindset
Before getting yourself out there for some live, face-to-face interaction, getting into the right
mindset would be the first step. Be confident. Learn how to make a good impression. After all,
you will be the face of your brand.
 Reinforce yourself with a persuasive sales pitch
One of the best ways to show your confidence is by knowing what to say. Know how you can
describe your brand and what it has to offer to people. Don’t be generic, though. Be
conversational and also learn how to answer all possible questions to be thrown at you.
 Join small business conferences
There’s no way for you to effectively network as a small business unless you are giving yourself
access to business networking situations. One of the best ways for you to be surrounded by other
like-minded individuals and entrepreneurs is by joining small business conferences.
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 Join Trade Show exhibits
If you are willing to invest, then registering your brand to join a trade show event would surely
make you take home a great number of people to be listed in your book of connections.
 Always have some business card handy
Business cards are important for business networking, whether you’re planning to attend a big
business conference or a small business event. Not only it will help you be contacted by people
you met when needed, but it also shows a sign of professionalism.
Business networking is an important and fun part of running a business. Make sure to review
these resources before you heading out for your next business event, and you’ll surely make an
effective and long-lasting connection.
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4.4 Incorporating Innovation on a Business
You just cannot ignore the importance of innovation in business – regardless of size. But how
can it really benefit a business? Well, basically, innovation is the implementation of an idea that
makes a business success.
Innovation has a great role in the development of a small business. While innovative ideas come
naturally, most people who own small business find it hard to create innovative changes that are
going to have a great impact on their business. Here are 3 ways for you to get innovative ideas
for your small business.
Follow the Rapid Change of the Industry
Even though you can’t be totally sure that the most rapid-changing industry is the most
innovative industry, one thing is for sure, because of the fast pace industry, businessmen are
trying to give their best to produce something that is extraordinary. This is, of course, to make
sure that they can keep the sustainability of their business and also the ability to get ahead of the
competition. So, it’s always a great idea to keep an eye on these industries as they constantly
think of new and crazy ideas.
You may also want to keep track of industry influencers and publications. As a businessman, you
must get used to being pressed for time! This means you wouldn’t be able to have time or head
space to read through all interesting thought leadership articles available, but how can you keep
track of developments within your respective industry? Social media is the answer. It is a great
tool to monitor current industry influencers – their points of view and make sure that your
business is still covered by the current trend.
Establish Internal Brainstorming Sessions
While most entrepreneurs are going to see this as a time-consuming activity, having internal
brainstorming sessions is able to help you generate ideas internally that can help expand a
business. On top of that, you’re actually encouraging the employees and people who are involved
in your daily business operations to be part of it. Most of the time, these individuals are able to
offer practical ideas due to their direct involvement with your business.
“The best way to predict the future is to invent it.”

—Alan Kay
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In order to get your creative juices flowing, you have to be open to contributions. Keep in mind
that there’s no such thing as a stupid idea and give someone a reward for offering a million bucks
idea. You should also take internally-generated ideas thoroughly and evaluate their possibility
carefully.
Attend Trade Conferences
Most startup businesses tend to connect head-on networking with trade conferences. However,
there are many more things to learn from a conference. You may want to participate in booths
and check out the products or services they are selling. Aside from giving you the ideas to be
innovative, you may end up using these products or services to help your business, which is also
a great way to innovate your business in terms of efficiency and effectiveness.
It’s a known fact that innovation is a very important factor that determines the success of a
business. Make sure to consider all the tips above and let them help you reach the pinnacle of
success.
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4.5 Leader vs. Boss: What are you?
In the business world, it’s easy to see the difference between the two. One of the most common
reasons why an employee decides to quit his job is because he didn’t like how his management
run the company. But, how is a leader different from a boss?
-Leaders bring out the best on people. Bosses demand them to be the best.
-Leaders influence. Bosses direct.
-Leaders fuel passion. Bosses stir up assignments.
-Leaders develop people. Bosses train them.
-Leaders take responsibility. Bosses take credit
-Leaders create leaders. Bosses hire employees.
-Leaders face the problems. Bosses make people deal with them
It’s very easy to turn yourself into a boss material. However, becoming a leader is where the
actual commitment truly comes into the picture. Employees can easily see the difference between
the two personalities.
“Leaders become great, not because of their power, but because of their ability to empower
others.”
—John C. Maxwell.
So, how can you make sure you’re the true leader your employees want you to be? Here are
some things you need to keep in mind.
BE FAITHFUL
A leader has to be faithful to his vision. Regardless of the type of challenges that may arise, as
long as a leader is aware how vital his vision is, it’s likely for him to prevail. This will stimulate
your confidence and it will radiate through you to your employees.
INTEGRITY
Always be honest with yourself. Always speak your mind without hurting others intentionally to
discourage them. But at the same time, don’t be blind to what’s going on around you. A leader is
integrated.
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PAY ATTENTION
Be aware of your environment all the time, may it be psychological, emotional, physical, and
spiritual. By keeping yourself aware of what’s going on around you, your consciousness is going
to expand and you’ll have more space to be occupied.
TRUST THE PROCESS
As a leader, you must have a vision. So, as a leader, you have to do everything you should in
order to fulfill that vision. There will be times when things may not seem like the way they
should. But you have to look at every angle and see if a situation can benefit you. If it does,
make the most of it.
INSPIRE OTHERS
Always respect others no matter what their position in the company is and recognize them for the
great things they bring in to the company. Don’t make them dependent on you, but let them
know how they benefit the success of your company.
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4.6 Hiring the Right People for Your Business
As a businessman, you must treat your new business as your baby. So, in terms of choosing the
people to work for you, ask yourself, “Is this going to be a good person to surround my baby?”
However, a very strict recruitment process shouldn’t be too complicated. Here are some traits
you need to find in an employee you’re going to hire.
 Skills
Of course, you need to find specific skills in a person before you hire them. What position you’re
looking to be filled or what tasks you need to assign to them? When you carefully consider the
basis for all the positions before filling them, it’s going to be easier for you to find the right
person for your business.
 Experience and Credentials

Just like when you’re looking for skills, the employees you’re going to hire should have some
sort of experience. Ask them how many years they worked for a position they’re applying for.
But then again, this is not to say that you shouldn’t hire inexperienced applicants. In fact, you
can find some of the best employees among new graduate applicants. Just make sure to see their
credentials.
 Drive
The right employee for your business is someone who is driven and dedicated. Keep in mind that
it’s not always easy to make a new business work overnight, that’s why you need to find
someone who is ready to put on some hard work. Ask them what they think should be done to be
able to make your business work. The right candidate should be able to share his thoughts easily.
 Teamwork
Your employee should know how to cooperate. Your business will only work if the employees
are working together to run it properly. Can they work with a team? How about individually?
Ask them and tell them what to expect.
 Potential
When looking the ideal employees for your business, their potential is another thing you must
put into consideration. Can they do other things aside from the position they are applying for?
More importantly, can they progress on a higher role in your company?
Hiring the right employees for your business is a very important thing. If you want to prosper
and win over your competitors, a team of hardworking employee would be needed. By looking
for the traits mentioned above, you can start enjoying the benefits of the best possible team in no
time.
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4.7 Building a Relationship with Your Clients
There’s no business if there’s no client. That’s why you should pay attention to building a strong
relationship with them. In order to do that properly, here are five tips you may want to follow.
1. Prioritize effectiveness and efficiency; after all, that’s why they want to talk to you in the
first place. However, you must always incorporate courtesy.
2. Address them properly. Always show respect and as much as possible, always use first
name basis when speaking to them, this will make your customer feel like you have a
connection with them.
3. Show appreciation to your customers. A simple “thank you” for their time would make a
difference.
4. Go an extra mile or two. If they get disappointed with your service, make it up to them by,
perhaps, giving them some discount on their next purchase.
5. Keep your line open. Always be responsive with their concerns or inquiry no matter how
silly you may think they are. Answer them properly and answer them quickly.
Building a good relationship with customers is a great investment in the future of your business.
Especially that it does not necessarily take a lot of effort and money to do so, but the return on
that investment is going to be amazing.
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4.8 Getting into the Right Mindset
Being a successful businessman involves a lot of hard work. Your mindset is one of the key
elements for this. Having the right mindset is truly a game changer when it comes to the success
of a business.
Mindset
To tell you the truth, no matter how many books you read about having a positive mindset, it still
depends on you how it is going to affect you and your business. Are you truly ready to leave
your job and start a full-time business? Before anything else, making sure that you are mentally
prepared is the most important thing.
Is This Easy?
You might think that it’s going to be easy as long as you have the right mindset. But honestly,
it’s not always that simple. However, it’s NOT impossible.
What does mindset do on a business?
Well, EVERYTHING! Always remember that your thoughts are what really make you do things
in the first place. The way we think surely can impact our lives to a great extent.
The most important thing to understand is that your thoughts matter. Your thoughts produce your
emotions, your emotions produce your actions, and your actions produce your life. They are all
connected.
“Our minds become magnetized with the dominating thoughts we hold in our minds and these
magnets attract to us the forces, the people, and the circumstances of life which harmonize with
the nature of our dominating thoughts.”
—Napoleon Hill
By letting your negative thoughts to infiltrate your mind, you’ll start believing in them and that’s
what going to destroy you.
For example, if someone tells you that it’s better to continue with your full-time job because
there’s no assurance in running a business, you may start to doubt yourself and your plans.
But if you keep thinking that everything is possible and that you know that you can handle
anything no matter what happens, then you will have the courage to carry on and have the
mindset to be confident to anything you do.
50
You can look at it this way: Imagine you are someone who has to represent a brand, which one
do you think would generate a better result?
(a) "I am not ready for this! I hope this ends already!"
(b) "I have been preparing myself for this. I can’t wait to show what I’ve got!"
The best thing you can do is to focus on your thoughts that make you feel confident, empowered,
and capable. The way you think at every moment defines how your feelings and actions in most
situations
Always remember that the world doesn’t change, but you do. It’s only you who can let the
opportunity to flow in your life. It’s only you who can remove the negative blocks in your mind
that stop you from reaching success.
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Chapter 5: Budgeting for Your Business
Any smart businessman knows that having a good budgeting plan is an important asset in terms
of running a company. Cautious planning and adjustments to financial plans can make a
difference in having an effective, efficiently running business. Whether you’re working towards
running a large or small business, smart budgeting can be very beneficial.
So, how exactly does effective and efficient budgeting works? Budgeting for a new business can
feel like an intimidating task. It’s not as easy as making a budget for your daily home expenses, but it’s
extremely important.
Budgets control expenses, get you ready for what may come, and most importantly, help you make the
best of your profits, which ultimately leads to more earnings. By learning how to properly manage your
budget, you can spend more of your time and energy focusing on other aspects of your business.
Budgeting Tips for Your Business
When managing your budget for your business, there are steps you need to follow to make sure
that you’re covering all the details to develop a stable and all-encompassing plan for the finances
of your business.
Use the Right Tools
While you can write down your marketing budget on a piece of paper, learning how to use Excel
or another similar program that let you put in calculations make everything easier and organized.
You can find a lot of free tools that will help you list down your budget by a little search online.
Grand Opening
Don't forget that on top of your regular once-a-month marketing, you have to start your new
business with a bang. So, make sure to plan some spare funds for when you’re launching your
business.
Ongoing Marketing
Keep in mind that a lot of forms of marketing just really start to show their actual potential after
several months in. Also, don’t spend everything you have on your first month. It’s best to ensure
that your budget is enough to keep your marketing running for at least the first three months in
play.
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Diversification
In the world of business, nothing is too permanent. What worked last year may not be effective
today. Similarly, what was not working 2 years ago may be extremely effective right now. So, do
your research and know exactly what works, otherwise, you might end up spending too much on
nothing.
Factor in All-Related Expenses
When managing your marketing budget, see to it that you factor in each and every involved. This
will include design and labor that you need to put in along with other expenses associated with
starting up your business.
Maximum ROI
There are a lot of marketing ideas that proven to be effective, but in order to be an effective
leader in your chosen industry, you should always be working towards the maximum ROI on
your budget.
Budget for Testing
You can find a lot of marketing advice online. Some of them are okay, while some of them are
just silly. So, to make the most of your budget, put some aside for testing – this will save you a
lot of money in the long run.
These are just some of the steps you are able to take in order to form a better and more effective
budget. These tips will require you to spend more time and energy in developing and keep your
budget, but you can assure that everything is going to be worth it. With better budget
management, you can have peace of mind that your hard-earned money will not go to waste.
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5.1 Knowing Your Assets and Liabilities
You probably heard of the terms Assets and Liabilities before – and they always appear together.
These terms are commonly connected to the balance sheet. Both of them are important elements
that form the financial health of your business and make up the balance sheet of your company.
On the balance sheet, assets are what you own while liabilities are what you owe to others. In
order to determine your company’s net worth, you would have to subtract the worth of your
liabilities from the value of the assets. But to explain it simpler, here are some explanation:
Assets
Assets are resources owned by your business, which can give you future economic profit. They
add value to the company and help you meet your commitments and at the same time, boost your
equity.
Liabilities
Liabilities are the debts or obligations of your business which you have to fulfill. This could be
the money you have to repay, the goods you have to attain, or the services that have to be done.
These responsibilities take place out of past transactions and have to be settled through the assets
of the company.
Both assets and liabilities should be reported on the balance sheet of the company. While some
assets are depreciable, liabilities are not - they don’t reduce in value over time.
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Examples of Assets and Liabilities
Just like business assets, liabilities have two comprehensive categories. Depending on their
maturity, liabilities could current or non-current.
Current liabilities are the ones that are due within the present accounting year like the following:
 accounts payable
 bank overdrafts
 income taxes
 outstanding expenses
 payroll taxes
 sales taxes
 short term loans
 wages
On the other hand, also known as long-term liabilities, non-current liabilities are the financial
obligations that aren’t due for settlement in one year throughout the normal course of business.
These include:
 bonds payable
 capital leases
 deferred revenues and taxes
 long-term borrowing
 mortgage debt
 notes payable
 pension liabilities
 securities, such as stock shares or bonds
In the balance sheet, you must always consider both of your assets and liabilities in order to
accurately reflect the financial position of your business.
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Conclusion
Today, more and more people wind up feeling disheartened, underpaid, and overworked when
they’re caught up in the dull routine of traveling back and forth to work and spending hours and
hours that they didn’t dream of in the first place.
A business opportunity might be just what you’ve been looking for.
Having a business, you’re allowing yourself to be your own boss and even set your own working
schedule. You’ll enjoy the flexibility and freedom in your life that you’ve probably didn’t
imagine. On top of that, a lot of these jobs are going to let you earn what’s basically an infinite
income potential. You will be paid derived from how well you did your work and how many
hours spent working on it. This definitely sounds like a dream job for almost all salaried workers
who have felt like they worked too much for something too little.
While there are surely a lot of benefits to pursuing entrepreneurship, you must be aware that
there might be a lot of challenges you need to face on the way, which all can be a real eye-
opening experience, but at the same time, something that will push them to do more. The first
months may feel like you’re doing too much work in order to get your business to get underway,
but soon enough, with plenty of hard work, enough knowledge and skills, and the right mindset,
you will see it rises and all of your efforts will be well-rewarded.
It definitely takes a lot of courage and confidence to leave the stability of having a salaried job
behind, but with the unknown, lies a great deal of opportunity that something your current job is
not capable to offer.
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How To Land The Best Profitable Business

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 You’ll Be Your Own Boss

 You Can Make Your Own Identity

 You’ll Experience the Fulfillment of Finding Your True

 You will expand your social circle

 You Will Be an Authority Figure in Your Field

1. Businesses can work out during economic recessions as economic

2. Putting up your business is free with the use of the internet

4. Waiting would not take you anywhere

5. It’s a good investment for retirement

Is there a right age to get started?

Step 1: Look for problems that needed to be solved

Step 2: Get as many ideas as you can

1. Do you find the problem interesting?

Step 4: Selecting the winning idea

2.2.1 Food Related

1. The Right Location

2. The Food You’ll Sell

Healthy Meal Delivery

But why do many businesses fail?

 Lack of Customer Data Base

 Not Having a Business Plan

 Setting Unrealistic Goals

What Are Your Expected Returns?

3.3.1 The Importance of Business Trend Awareness

Does it mean businesses should only follow what’s trendy?

“Procrastination is one of the most expensive invisible costs in business today.”

3.4.1 Effective Ways to Beat Procrastination

 Get into a networking mindset

 Reinforce yourself with a persuasive sales pitch

 Join small business conferences

 Always have some business card handy

Follow the Rapid Change of the Industry

Establish Internal Brainstorming Sessions

“The best way to predict the future is to invent it.”

Attend Trade Conferences

TRUST THE PROCESS

 Experience and Credentials

What does mindset do on a business?

Budgeting Tips for Your Business

Use the Right Tools

Factor in All-Related Expenses

Budget for Testing

A business opportunity might be just what you’ve been looking for.

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