Pinoy Business Coach

It sounds so common we often get paralyzed by it.

'wala man akong pera pang-negosyo' or
'kelangan ko ng puhunan' or
'dapat ako may xxx na pondo para makapagtayo' ng negosyo.

You hear these all the time, though there may be some truth to it, BUT it is NOT the complete truth. Money alone is not a hindrance to starting your entrepreneurial venture.

Much money at most instances can cause us to be dumb and fumble in making decision making in business. I knew a person once who received 1.5M a decade back or so from a real estate deal, but lost it all within a few months. The business world is too unforgiving to the unprepared mind who believes that having the money at the onset would guarantee success. It's the thing between your ears (your mind) that will help you be creative enough to succeed in business, but you need further training & education. The way I see it, there are 3 kinds of start up businesses:

1. The one who BUYS a Business (Franchisee)- has cash but wants to duplicate an existing system

2. The one who INHERITS a Business- business-minded parents giving away to their seed

3. The one who STARTS the Business- the one with seed money

4. The one who STARTS the Business- the one with LESS funds

These categories are arranged according to difficulty and the hardest being No.4--the one who starts the Business with less funds. But if you apply the rule of nature which states "That which is easy has a tendency to become difficult, that which is difficult has also a tendency to become easy." The choice becomes clear. The odds for all levels are varied and the rewards as well.

You are an immediate prototype of your business. As truthful as a reflection in a mirror can be, we can all do well to enhance that reflection though continuous study & application. A good business owner needs working knowledge on the following:

SALES
ACCOUNTING
BUSINESS LAW

That is just to name a few.


You need not be a genius for all areas, but you need to know the basics so that you can objectively gauge your business. Your Academic Business training or profession provided the baby steps, but ultimately you are responsible for further financial education.

There are business rules of thumb that need to be followed which can be guiding principles, most of which can be learned through a educating oneself. Investing in good business books that are written by entrepreneurs can be a great source of information. But nothing can ever take the place of actual application of principles that have been learned that are true.

Your IDEAS are the greatest resource that you will ever have, not money.