Starting a family business, need help po tsikoteers

[jodski]

Don't decide too early to give up your steady income day job for that hanggat hindi mo nararamdaman na steady stream income mo

For item 1 - study kung ano crops mabilis mabenta and don't stick to one. It has maintenance cost para sa mga pesticide and fertilizer pero bago mo pa maisipan yan unahin mo muna mabakuran ng maayos yung lot. Mas mahirap na peste yung nangunguha ng tanim sa madaling araw. You also need a katiwala to do the rounds andcheck on the crops...

For item 2 and 3 - may requirement na dapat wala ka sa residential area bago ka makapagpatayo ng poultry or piggery. You need to invest sa infra ng water source mo tsaka yung power sprayer for cleaning. Its a good idea na maghanap ka na ng mapagkakatiwalaang veterenarian to check your alaga. Huwag manghinayang na may huhukayin ka dyan na pit para tambakan ng dumi and you need to invest sa gamot para hindi mangamiy yung pit mo. Ika nga its consideration to your neighboors kasi nakaka trigger ng asthma and other lung condition ang amoy nyan. If ever nga pala malapit ka sa may ilog or bodies of water like deep well you can kiss that idea goodbye...


Sent from my Windows Phone 8 using Tapatalk

[RF02]

maraming salamat po sa lahat ng sumagot,
all points noted po. napakalaking tulong po nito sakin

*jhnkvn
thanks so much may naisip ako bigla sir if ever po may mapili nang business ok din po kayang iwork experience ko yun mismong actual business namin? parang kasama ako lagi sa area with hired na tagapamahala (in the future ako papalit sa pwesto nya or imaintain ko sya kung mapagkakatiwalaan talaga sa business.)

*1D4LV
haha yun tama ka po sir kaya nga sir eh mahilig ako kumain ng chicken and pig.
kaya bukod sa family business pwede ko rin sya gawing source ng another business sa super far future let's say resto or mini kainan na puro pig at chicken lang ang food

*Syuryuken and Ry_Tower
noted mga sir, pero ang problem ano po kaya sa kanila ang maganda inigosyo tapos pag may napili saka po ako attend sa seminars etcc tungkol po duon.

* jodski
yun nga po problema sir eh sa current work ko po kasi hindi kkayaning pagsabayin sa business sa mga meetings, collections, site visit and pag pasok sa office eh ubos na oras kaya pag sinimulan itong business magiging twist talaga ito sa buhay ko hehe.
saka gusto ko rin sana magkaron ng sariling hanap buhay habang bata-bata pa po ako ^^

1. about sa crops continuos naman yun crops nila bigas, mais, sibuyas etccc kaso nga lang existing na kasi yun kaya balak ko sana mag start ng something new sa ibang lupa kaya least priority pero kung yun ang mas worth it ibusiness sa choices iffocus ko sya with all my heart...
2. noted sir very informative po yun sinabi nyo, ask ko narin po kung mas mabuti po ba kung yun malalim na pit tapos after tapon tambak ng lupa tapos ulit nalang sa susunod na tapon ng dumi hanggang sa matakpan yun pit tapos hukay ulit sa next part near sa pit?
ang naiisip ko pong source ng water dito eh deep well na may motor kasi medyo mataas yun lugar ang alam ko nasa 20 or more meters yun lalim bago may makuhang tubig tapos lalalim pa yun pag taginit

[confused shoes]

Develop the existing business your parents have. Start with the market.

[jhnkvn]

*jhnkvn
thanks so much may naisip ako bigla sir if ever po may mapili nang business ok din po kayang iwork experience ko yun mismong actual business namin? parang kasama ako lagi sa area with hired na tagapamahala (in the future ako papalit sa pwesto nya or imaintain ko sya kung mapagkakatiwalaan talaga sa business.)

Unfortunately, wala ako alam sa agri-food business so I can't comment on it. It's not my area of expertise after all so I can only give general advice.

Your business is yours alone. You can hire a manager but it's still essential that you're involved sa day-to-day operations. Your manager can leave, but you can't since you're vested in your business so take matters into your own hands.

I also highly recommend getting a mentor. The reason for this is that it saves you a lot of "hidden" costs in the industry. Knowing what to do when a problem pops out and acting decisively is quite important in a business rather than floundering around to try to fix the situation. What you primarily lose here is time -- and that's arguably more important then money. In our experience, it's easier on the wallet over the long-run if you simply hire a person with experience and learning under him rather than trying to save money by not hiring and simply doing it yourself.

Reading the comments, I find very enlightening answers from fellow tsikoteers. For example I wholeheartedly agree kay jut, most businesses I know that aren't hands-on will fail. That's why I'm on-leave sa group namin since I'm trying to enter the retail sector just waiting for January to finish the papers since I hate paying double registration fees in the city hall and BIR. Though since wala ako masyado ginagawa sa December, my mind's wandering to other businesses nanaman :naughty2: for example, iinisip ko magstart ng autoblog as a sideline (it's something which I contacted Niky na for his advice).

Still, the point is that you should know how to focus. If gagawin mo lang sideline lang yun business, let's say franchise ng Master Siomai, kahit hindi ka full-time okay lang since the business process is there na. Mayroon systema nakalagay na so kahit wala ka, umiikot parin. You can easily balance that type of "businesses" with your day job.

However, if it's a budding family business you're talking about. You will need to commit eventually. Maybe not at the start when it's mostly paperworks, learnings, and approvals. But when the ball is rolling, you need to start focusing. Also pay attention to shadow's post. That's your land -- only you will eventually know what to do with it.

Another important question is "how do I start?" For that, isa lang masasabi ko. Fulfill a need. You do not enter a business and expect it to be a success of the bat. In fact, before we start a business we usually have committed customers already in line. This is how most of our country's taipans start. If you know a rich family who owns a paper mill, it is a great idea to ask if they need an upstream (distribution and retail) or downstream (raw material supplier) "partner" and start from there.

For example, in putting up my retail, I already informed friends and family alike of my intentions to enter into the sportswear industry. So when the time they need the product, pumunta kayo saakin wag sa iba. While you will get critics kahit ano gawin mo.. remember that marketing is still marketing.. do it shamelessly. (P.S. Kung sino may kilalang retail store manager dyan preferably one who works at a shopping center, kindly PM his/her details to me )

Another example is the case of our coal import business, the #1 customer is us. It first started out as a need to lower the cost of raw materials for better margins on the parent company - this led us to negotiate with coal producers from other countries. Eventually, we entered into a contract agreement with an Indonesian coal company to supply us coal. Now for the effort done - negotiations, ports, logistics, warehousing, etc. savings namin per kilogram isn't big.. it's just mere cents. But these savings pile up over time and I'm pretty sure saving a Vios or two is worth the headache. Because not only do we save but we also open an opportunity to spin it off into another business. Of course, when your opponent is Semirara which is considered a monopoly in the domestic market (they produce more than 90% of total coal production in the country) don't really expect it to grow that big