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How to Start a Small Business

the filipreneur · 1 · 102

the filipreneur

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on: Nov 05, 2019, 02:39 PM
Hi guys so nakita ko sa mga post na marami ang gusto magsimula ng negosyo pero walang idea kung anong business ang gusto nila simulan or paano magsimula.

So I have a quick guide for you guys, I'll give you the outline and the steps in starting your own business

Market Research: Most important
Fulfill a need - No matter how good your product is if people dont need it they wont buy it. So maghanap po kayo kung ano ang mga kailangan ng tao sa isang specific na lugar.
Step 1: Survey the area where you will put up your business, who are your target customers
Ex. If malapit kayo sa school, then students. Kung malapit naman kayo sa offices then workers
Step 2: Find a need: Kung malapit kayo sa school then, most likely they need boarding house, school supplies, tambayan, computer shop, etc. For workers they need resto/karinderya housing/room for rents,coffee shops etc.

Step 3: Find competition: One way be sure there is a need is to see if there is competition. Pero wag matakot sa competisyon
Ex. You can find nearby boarding houses, shops for school supplies, computer shops, karinderya etc.

Launching your business
Now it’s time to go ahead and start one.
Step 4: Start small – It’s important to spend the least amount of capital in starting out. Kase di natin alam if papatok yung negosyo natin from the start and kung hindi ito papatok then we cut our losses and find another business. Importante ito para makarecover tayo kagaad at makapag start ng panibagong business.
Maraming businesses nagsimula sa malaking capital; napakaraming inventory, empleyado, business vehicles at iba pa ngunit after several months magsasara kase nalugi.
So starting small is a huge advantage.
Ex. Start with a small amount of school supplies to sell, start a small space for a karinderya, start with few PC units for computer shops. If you have a spare room in your house then you can rent it out first.

You can always expand your business if you already have sales. But we must start small first. SM was not built in 1 day, Henry Sy started with a small retail store, then over the years he expanded to what we know today as SM.

Step 5: Beat the competition. – You always want to have competitive advantage to get your competitor’s customers to buy from you. Ito ang advantage na sigurado uunlad yung business mo.
One way to find out your business’ competitive advantage is find a flaw in their business and exploit that flaw. Some of the common flaws in business:

•   Poor quality of products
•   Poor customer service
•   Unsanitary location
•   Unsatisfactory experience
•   Poor food value (serving size/food size)
How to have Competitive Advantage?
•   Offer better products than your competitors
•   Offer a UNIQUE product that the competition doesn’t have
•   Improve what is lacking
•   Serve customers better
•   Have a more attractive store
•   Offer better EXPERIENCE

Ex. You can offer better quality school supplies, have better room spaces in your boarding house, make better serving size in a karinderya, have a better pc units with better A/C, make your coffee shops ala starbucks ambiance, improve seats, coffee experience and better customers service


So nabigay ko na po ang ilang steps para mag start ng business nyo.
IF you would like to ask questions feel free to PM me. Thanks for reading

Hi. Para po kayo magkaidea kung anong business ang pwde nyong maumpisahan sa mababang kapital may mga steps po ako.
Start small, low capital has its advantange, if malugi yung business nyo pwde kayo makarecover quickly and start again.
 Step 1: Find a market need, No matter how good your product is if people dont need it they wont buy. So maghanap po kayo kung ano ang mga needs ang kailangan ng tao
Ex. Malapit kayo sa school pwde yung school supplies stores. One good indicator na may market need is competition.
Step 2: Assess competition- Wag po kayong matakot sa competition kase ito ay isang indicator na may demand ang isang negosyo. Para maka angat kayo sa competition kailangan lang mas maging BETTER kayo kase sa kanila.
Ex. Ang ibang school supplies stores ay may mga same products at di poor quality you just have to provide better range of products and better quality, offer something UNIQUE na wala yung ibang competitors mo meron.

Step 3: Start small- dahil maliit lamang ang puhunan natin kelangan gagasto lamang tayo sa pinakamaliit na halaga.
Ex. Magumpisa sa konting school supplies na UNIQUE, better quality or better range of products at kung kakagat yun gnegosyo mo congrats pwde kana magpatayo ng sarili mong store at magexpand.


Thanks for reading. Hope you learned something


 


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