Risk is something that is avoided by many people. Some even do not get into business because they are afraid of risks. Risks have been known to be the cause of business downfall, but very little is known that risks can also serve as a catalyst for business growth. When risks arise, businesses are put in a disruptive and uncertain environment. At times like these, the capacity of an entrepreneur to manage risks is tested.
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.
