by Homerun Nievera, Negosentro.com| The big question you will have in starting a business in the Philippines is if you can really start a business on 5000 pesos capital, right? The quick answer is yes, you can! In fact, you can even start a business without any capital at all. How? Here are some I’ve tried doing myself throughout the years and was successful at — in varying degrees.
#1 Setup a Blog
This looks pretty easy. Go to Blogger.com or Worpress.com to setup a free account. Choose a topic and theme and you’re off! So where’s the money? Your blog can easily make money from the traffic it attracts. You can hook up with Google Adsense or any other advertising network where you’d get paid per click or per view of the ad. If you’re that popular and get a high Domain Authority ranking (look up Moz), you can demand for advertorials or paid postings.
Obviously you won’t need to spend 5000 pesos to start the business of blogging. But you’d sure need that money to promote your blog. Go promote it on Google adwords or Facebook sponsored posts.
#2 Write an E-Book
Usually, setting up a blog and writing an e-book go hand in hand. This is because you can promote your e-book through the blog. This way, you can get to attract more people and let them sign-up before giving them the e-book — which can be for free!
If you’re thinking of selling an e-book, that, too, is possible. Just use your blog as a landing page for your target audience, hook it up to a payment gateway or use a Paypal plugin, then you’re off to an e-commerce type of a business. You can also use one of the platforms that have been specifically designed for this, for example Kajabi. In terms of pricing https://supplygem.com/reviews/kajabi, Kajabi is quite expensive to get you started, but you can take advantage of Kajabi’s free trial.
Just like in having a blog, spend your 5000 pesos in promotions.
#3 Sell Old Stuff
You’re on social media and need some extra money. You’ve got some old but usable stuff lying around. Or maybe you’re friends have the same predicament. The solution is to do an online garage sale. I’ve heard of someone doing exactly that and netted him tens of thousands of pesos. It really didn’t cost anything except time and his network of friends who helped out.
This is a no-brainer business which you can start from nothing. Just be quality oriented and you’re on your way. This might turn out to be thrift shop later, huh?
#4 Buy & Sell Stuff
Buying and selling stuff is one of the old traditional ways to do business. Start with things you know or have a passion for. Some friends started buying and selling on EBay way back and they traded old toys which they later sold for a hefty profit. Some would go to Divisoria or as far as Bangkok to be traders. But hey, you’ve got only 5000 pesos to start a business. I suggest that you go online first and have a feel of the market you want to be in. Once you’re had a pretty good feel of the target market, know the products they’d pay for. Use the 5000 pesos as your initial capital then build from there.
#5 Be an Agent
Apart from buying and selling stuff, you can be a reseller agent of sorts. I remember starting out with selling magazine subscriptions as a high schooler. I didn’t even need capital then but eventually moved into reselling more magazines. Today, I’d need the 5000 pesos as my capital for cab fare and the like. Call it operating expenses, but that amount would go a long way. Try reselling other things from cars to real estate. You’d get to some big business soon.
Remember, entrepreneurship is financially rewarding if you know how to handle your cash. So be prudent. In the Philippines, 5000 pesos to open a business — or no capital all — is easy if you love what you do.
Homerun Nievera is the publisher of Negosentro.com and WorldExecutivesDigest.com. He has interests in several tech and digital businesses as director and chief strategist.