Business advice for the clueless salaryman

[dr. d]

oh, you can go into business, and learn from the school of hard knocks.
after a dozen or so times of getting knocked down... and if you still have the cash... perhaps you can run the business well enough.
"there are a lot of things necessary to successfully run a business, that are not written on paper."

[_Cathy_]

If you're clueless, don't go into business.

I couldn't agree more. One reason why I'm afraid to do business is I know so many people who had numerous failures before succeeding. I just can't afford that.

Not that I'm being negative but I don't think books would be of much help. My friend's business was based from our strama course in MBA. She just closed it down last year.

I agree with the 1D4LV. You need to associate with someone who has experience. Experience is the best teacher talaga

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[badsekktor]

even though there are good ideas and concepts in an MBA school, as i previously stated, nothing beats experience...... what we learn from school is entirely different from the real world.

trust me, been there. done that. daming beses ko ng nag fail sa negosyo. mahal nga ng tuition fee ko eh. mahigit dalawang milyon.

So true! Experience will make the difference kung mag-flop or mag-succeed ang negosyo. I have several mentors na very successful sa larangan ng pagnenegosyo. Yun siguro ang isa sa nakatulong sa amin.

[greenlyt]

Sun Tzu's Art of War

go to business as if your going to war

[1D4LV]

Sun Tzu's Art of War

go to business as if your going to war

SUn Tzu's book (The Art of War), describes that you need to know your enemy first before going to war. In business, you should know the market that you are trying to get into, and your competitors on how they do theirs.

[carwhacko]

I agree. Thank you sa mga payo boss.


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[dreamur]

Can you trace the caller? You can ask help from the service provider.

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[n_spinner06]

Hi everyone. I need advise. Both parents are now retired. We are a family of corporate slaves..no business experience to speak of...just held jeep and trike franchises decades ago. I still own a couple myself. My mom makes good cupcakes and i've been encouraging her to start a business with it. Naturally they are adamant. I'm willing to fund it and i intend to strike two birds in one go. She'll have something to do and hopefully my father would get involved later on as well and their time would be more productive. Secondary na lang yung income. So, i want to know where to start and get the info/education to get started...hoping the business folks here can pitch in. I have very limited business people in my sphere so there's practically no one to consult..thanks!😊

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[jut703]

Hi everyone. I need advise. Both parents are now retired. We are a family of corporate slaves..no business experience to speak of...just held jeep and trike franchises decades ago. I still own a couple myself. My mom makes good cupcakes and i've been encouraging her to start a business with it. Naturally they are adamant. I'm willing to fund it and i intend to strike two birds in one go. She'll have something to do and hopefully my father would get involved later on as well and their time would be more productive. Secondary na lang yung income. So, i want to know where to start and get the info/education to get started...hoping the business folks here can pitch in. I have very limited business people in my sphere so there's practically no one to consult..thanks!😊

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Bro at this point, your best course of action is to network - find friends of friends who can link you to people who're involved in the line of business you plan to enter. Also, despite your corporate experience, for sure you've met many clients along the way. These clients could become your clients in your own business, or perhaps your suppliers, or again a link to the set of people you need to get in touch with.

Then just try to learn as much about the line of business that you want to enter. At least you get to stand on the shoulders of giants and learn from them.

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[n_spinner06]

Bro at this point, your best course of action is to network - find friends of friends who can link you to people who're involved in the line of business you plan to enter. Also, despite your corporate experience, for sure you've met many clients along the way. These clients could become your clients in your own business, or perhaps your suppliers, or again a link to the set of people you need to get in touch with.

Then just try to learn as much about the line of business that you want to enter. At least you get to stand on the shoulders of giants and learn from them.

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Wala puro technical folks e. Engineers. So wala connection sa food at all. Thinking of joining a baking class or something just to network...thanks!

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[_Cathy_]

Hi everyone. I need advise. Both parents are now retired. We are a family of corporate slaves..no business experience to speak of...just held jeep and trike franchises decades ago. I still own a couple myself. My mom makes good cupcakes and i've been encouraging her to start a business with it. Naturally they are adamant. I'm willing to fund it and i intend to strike two birds in one go. She'll have something to do and hopefully my father would get involved later on as well and their time would be more productive. Secondary na lang yung income. So, i want to know where to start and get the info/education to get started...hoping the business folks here can pitch in. I have very limited business people in my sphere so there's practically no one to consult..thanks!😊

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Encourage your mom. I've seen so many home bakers progress to now having their own restaurants and shops (eg Polly's, Vargas, Cuerva, Karen's Kitchen, Kitchen's Best etc), when they were starting I would just go to their house and pick up my orders. All of those are word of mouth lang Costa Brava, Camara, Joyce's and Yulo, all very popular and it's still home based. If the product is good dadayuhin talaga.

[n_spinner06]

Encourage your mom. I've seen so many home bakers progress to now having their own restaurants and shops (eg Polly's, Vargas, Cuerva, Karen's Kitchen, Kitchen's Best etc), when they were starting I would just go to their house and pick up my orders. All of those are word of mouth lang Costa Brava, Camara, Joyce's and Yulo, all very popular and it's still home based. If the product is good dadayuhin talaga.

Yup. Yan din thought process ko. And added bonus...if they're busy they won't interefere with my life as much. Hahaha. Much more worthwhile than idling their time away...

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[spectr]

I suggest avoiding the food business unless you personally have some food or cooking background. So easy to over/under estimate your overheads even based on portion sizes alone. It would be simpler to do buy/sell business or even small scale importation & distribution. Maybe a service oriented store of some kind?

[dr. d]

i saw this special on trump...
apparently, he was very good at acquiring. but he didn't really care to know how to run it afterward.

[hinlog]

I suggest avoiding the food business unless you personally have some food or cooking background. So easy to over/under estimate your overheads even based on portion sizes alone. It would be simpler to do buy/sell business or even small scale importation & distribution. Maybe a service oriented store of some kind?

Agree..you must be able to deliver even if your chef or cook leaves you. We are into food business for quite some already. Honestly, nakakapagod at nakakaawa pag peak season, my wife and helpers barely sleep pag may big number of visitors na pakakainin. Dapat hands-on ka rin, in any business naman yata dapat ganun, hindi puede part time ka.hth.

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[RR_22]

Why is it we only have few businessmen who are into e-commerce? It could be an app or online business. The latest filipino-run e-biz is the fetch app. It is a valet parking service.

If I have only capital and time, I would like to shift into this small but promising industry.




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[NightRock]

This is my current Problem and hirap mag isip ng Business after retiring and have some investment gusto ko pa din na may day to day ako ginagawa na pwede pag ka kaitaan.. Kahit may capital hindi ko alam ano pwede ko pasukin negosyo.

I was planning to start a car accessories shop since walang malaking store na ganon dito samin.. but I dont have installer and wholesaler right now

[shemcristobal]

First option is kung ano ang work mo ngayon at least you have years of experience on that.

Second is your passion/hobby.

Third is leverage expertise of family, friends, and partners.

Fourth is look for the need in the location of the biz or complementary to the other biz in the location.

This is my current Problem and hirap mag isip ng Business after retiring and have some investment gusto ko pa din na may day to day ako ginagawa na pwede pag ka kaitaan.. Kahit may capital hindi ko alam ano pwede ko pasukin negosyo.

I was planning to start a car accessories shop since walang malaking store na ganon dito samin.. but I dont have installer and wholesaler right now

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[1D4LV]

This is my current Problem and hirap mag isip ng Business after retiring and have some investment gusto ko pa din na may day to day ako ginagawa na pwede pag ka kaitaan.. Kahit may capital hindi ko alam ano pwede ko pasukin negosyo.

I was planning to start a car accessories shop since walang malaking store na ganon dito samin.. but I dont have installer and wholesaler right now

well, you can dabble in stocks or forex para may gawin ka.
or you can be a financial planner or a stock broker.
sa akin kasi, mas ok pa din ang service. laway lang halos ang puhunan.

or if you have an MBA or masteral degree, you can go the educational route.

[minicarph]

This is my current Problem and hirap mag isip ng Business after retiring and have some investment gusto ko pa din na may day to day ako ginagawa na pwede pag ka kaitaan.. Kahit may capital hindi ko alam ano pwede ko pasukin negosyo.

I was planning to start a car accessories shop since walang malaking store na ganon dito samin.. but I dont have installer and wholesaler right now

Mag-travel ka muna sa Europe with your retirement money. Sigurado Pagbalik mo dito kahit and papasukin mo makabalik ulet dun