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Wednesday, October 6, 2010

Business Object

They said that if you ask Filipinos if they want to have a business, they will always say “yes”. That should not be the question if that’s the case, it should be, “why aren’t you still in business?”. If you ask them, what kind of business do they want to have, these are the usual things they would say: computer shop, Laundromat, franchise or make own cart business, restaurant, small convenience store, and gym. Little do they know that owning these micro/small business is not considered as ‘businesses’ at all. In the four quadrants given by Robert Kiyosaki (Employee, Self-Employed/Professional, Business Owner, Investor), these only belong to self-employed. Why? Because being in a small business only makes you your own boss but not an entrepreneur; you can’t just leave your business when you want to go on a vacation. The reason is simple, you are the only businessman in those kinds of businesses, and other people are just employees. They do not care about your business. When you are in a big business however, you are in a big conglomerate with a number of businessmen as your partners; these people are stakeholders that would care about the business because they also own the business. This means, you can retire. It’s a good way to start and use it as an experience for later when you are ready to run your own big business. Sad to say that a lot of Filipino people does not know these facts, while some although they want to have a big business, they don’t know how.

Big business is the kind of business that uses the power of leverage, and this will give you retirement because it gives you the residual income. There are three big businesses; one is putting up your own company and anticipating the ‘big’ involve, big capital, big system effort, and big risk. The second one is franchise, I’m not talking about the cart franchise, I’m talking about the likes of McDonalds, Jollibee, etc. The only problem in this business is the capital because you are already buying the system and the brand so the system effort and the risk are lowered tremendously. The last one is the Network Distribution/Distribution/Virtual Franchise business. These businesses reduce all the ‘big’ in the business except for the big income that you’ll get. It is a distribution system that uses complete business partnerships and you can start at a part-time basis/ home based business if you are an employee. You can use their utilities, have complete trainings and company benefits, and create your own franchise. The sad thing though is that the system of this business was copied by a lot of scam companies around the world, so you better do some research before partnering with a company. Make sure that the company is listed in the New York Stock Exchange.

I also suggest that if you want to run your own business someday or in starting a business, you have to know the requirements; first is you have to love sales and marketing, then you have to read books, you also have to have a positive attitude at all times, start practicing the use of business cards, and lastly practice as soon as possible to learn from the experiences.


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