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This 2009 is a great year for us to start one new business.

Small business to BIG Business!

Start this year with a small business, all you need is a small capital! This small capital can be in between the range of 100 pesos upto 5000!

This blog post will give you definitely the good idea!

We at Pinoy2.com want to help you boost your productivity and assist you in building and growing your business, we are now offering this first edition of Pinoy 2 “To” Business! Get the competitive advantage only from Pinoy2.com Business Blog Artilces!

All entrepreneurs or small business owners, consider their skills and talents before they go into certain business. They always begin with good idea about his/her business plan.

1. Write a business plan. We usually begin business out of love or going for other peoples idea. The Business plan can be so simple as listing down your first firm vision statements, mission statements, objectives/intentions, strategies to accomplish a specific goals and action plan/s or it can be as complexed as forseeing the future of your family with your business profit projections over the upcomming years, marketing exertion, selling strategy, cash run, etc. Your plan must be in written form, so that you can follow the flow of your ideas without missing anything. The time when you have a bright outlook of what you really want to perform, how will you do it and how you direct things to meet those aspired goals.
2. Identify your secret advantage. Your skills and tallents are just one of the ingredients of your advantage to the market. The most important thing is your eagerness to make your life more valuable! By offering something of value so that men will give you money.
3. Start Your Way To Business. Develop something or innovate something out of any ordinary items you see that can impress others and make them see the importance of your product. From this point make money by selling, working and sharing your time, skills and talents. If theres a burning desire from your heart to do something, just work for it. Then, communicate to nearest friends or family memebers, to support you. You must shout out loud to in your inner thoughts to see yourself being the entrepreneur someday like you always wanted before. (Please read The Power of Positive Thinking).
4. Employ a Business Coach. In your way to good business, you need a good coach. The best business coach will teach you, how to improve your business by his/ her models or activities that will add and improve your basic know how in it; and keep you more accountable in your business decisions you make. The instructor that can make you go through a progressing process and recognize how to give “constructive criticism.” That’s the type of criticism that may give you pain and for us to grow the same time.
5. Take Track Calculated Risks and Your Results. Tracking or monitoring the performance of risk is the very significant part of any small business’s owner’s life.  If you contribute or invest 100 pesos, 1000 pesos or a million pesos, and you wanted to know what will be your ROI or return on your investment to decide if the exposure to the risk was worthy enough for your spent time.
6. Understand and accept that starting a business is a journey. You might see it a quite difficult, but you started your journey right now, by reading this article your on your first step in Being Your Own Boss.

Below is your homework ‘ before you open up your new business. We advise you  to do this for it can help you to build up business plan.

To write a good business plan, you may consider this quick question guides:

1. What’s your business idea?
2. How does your idea address a need?
3. What model suits you best?
4. What’s so different about what you offer?
5. How big is the market and how big will you grow?
6. What’s your role going to be?
7. Who’s on your team?
8. How will customers buy from you, and how much will they pay?
9. How much money do you need, and how much will you make?
10. Where’s the startup money coming from?
11. How will you measure success?
12. What are your key milestones?

Tips to do this fast…

• Know your competition
• Develop a business plan
• Research the market
• Network, develop alliances
• Take time for marketing
• Seek out mentors or coaches
• Spend time defining the needs of your business
• Survey potential customers
• Where to locate your business
• Join clubs/associations -social networks

This blog item  is too long any more, you can read our second edition by second week of February!

Key components of a business plan

read link >>>A.

http://www.startupnation.com/steps/55/3753/3/2/create-business-plan.htm

read link >>>B.

http://pinoybusiness.org/2008/10/09/10basic-street-smart-business-principles/

Updated entry June 2009!