An understanding of the basic labor laws will prevent the business from the effects of lawsuits. Lawsuits can be financially, operationally and emotionally draining, sometimes it may even lead to the demise of the company. So therefore, one of your roles as a small business entrepreneur is to learn and follow the law.
Business plans do not have to be complicated, but it has to touch on important points that affect the business. When creating a business plan you have to be clear and concise so that is can be easily understood by the people who will read it. It must serve as a manual for your current and future employees. It must be able to describe what you want and how to get them.
The 3 careers mentioned in the title have one thing in common, they are all self-employed and solo entrepreneurs. In the recent article by Dr. Villegas of The University of Asia and the Pacific, he stated that 28.8% of the Philippine population are self-employed (part of which are the solo entrepreneurs like ML Marketers, Direct Sellers & Real Estate Brokers). Just imagine the amount of taxes being contributed by these people. That being said, they must recognize that they have a big responsibility to the society. And since they are a big help to they society, they must be able to sustain and grow their business. Continue reading
Entrepreneurship used to be a gut feel game. But schools like University of Asia and the Pacific, Ateneo ME program, MINT College and Business short course provider, Innove have put a science behind the entrepreneurial process. And because of this, it is easier to put your big dreams to reality.
Many Filipinos love to have a business of their own but are always hesitant to take the risk. That is OK, nobody likes risk anyway. I once did a survey among employed people. I ask them to raise their hands if they want to have a business. 100% raised their hands. I asked them if they are would shell out a month of their salary to a new business. Nobody raised hands. So I asked them what they want to do as their business. They all said that they will use their skill to start a business. That I think is practical and wise but as Michael Gerber said in his book, skills alone do not make you successful. You still need to be scientific in your approach to starting a new business, most especially when you are trying to transition from being employed to self-employed. So how would you say goodbye to your boss and hello to business? Continue reading
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