Homerun Nievera, Negosentro.com |
The Department of Trade and Industry continues on its program to facilitate learnings through downloadables and short seminars that intend to provide guidance for starting a business.
Mga Gabay sa Pamamalakad ng Negosyong Pagkain
Starting a Business – Banana Chips Processing
Starting a Business – Backyard Tilapia Production
Starting a Business – Beadworks Accessories
Starting a Business – Beauty Salon
Starting a Business – Candle Holder Centerpiece
Starting a Business – Christmas Wreath
Starting a Business – Commercial Hamburger
Starting a Business – Commercial Siomai
Starting a Business – Decorative Balloons
Starting a Business – Dipped and Molded Candles
Starting a Business – Flower Arrangement
Starting a Business – Franchising
Starting a Business – Gift Box
Starting a Business – Herbal Bath Soap (Akapulko and Guava)
Starting a Business – Herbal Bath Soap (Papaya, Radish, Calamansi, Cucumber, Kamias)
Starting a Business – Home Bakeshop: Pandesal
Starting a Business – Honey Bee and Honey Production
Starting a Business – Internet and Computer Services
Starting a Business – Kaong Processing
Starting a Business – Mushroom Culture
Starting a Business – Native Longganisa
Starting a Business – Powdered Detergent Fabric Softener Dishwashing Liquid
Starting a Business – Saba Banana Production
Starting a Business – Salted Dried Fish (Tuyo)
Starting a Business – Salted Dried Split Fish (Daing)
Starting a Business – Skin Care (Herbal Bath Soap)
Starting a Business – Smoked Boneless Bangus
Starting a Business – Smoked Fish (Tinapa)
Starting a Business – Smoked Sausage
Starting a Business – Tocino
Starting a Business – Water Refilling Station
Starting a Business – Vermicomposting
Starting a Business – Vinegar From Banana Peeling
Should you need to download a guide in creating a Business Plan, you, too, can download it HERE.
- First and foremost, it will define and focus your objective using appropriate information and analysis.
- You can use it as a selling tool in dealing with important relationships (lenders, investors, and banks).
- You can use the plan to solicit opinions and advice from people, including those in your intended field of business, who will freely give you invaluable advice. Too often, entrepreneurs forge ahead without the benefit of input from experts who could save them a great deal of wear and tear.
- Your business plan can uncover omissions and/or weaknesses in your planning process.
- Place some reasonable limits on long-term, future projections. Long-term means over one year. Better to stick with short-term objectives and modify the plan as your business progresses. Too often, long-range planning becomes meaningless because the reality of your business can be different from your initial concept.
- Avoid optimism. In fact, to offset optimism, be extremely conservative in predicting capital requirements, timelines, sales, and profits. Few business plans correctly anticipate how much money and time will be required.
- Do not ignore spelling out what your strategies will be in the event of business adversities.
- Use simple language in explaining the issues. Make it easy to read and understand.
- Do not depend entirely on the uniqueness of your business or even a patented invention. Success comes to those who start businesses with great economics and not necessarily great inventions.
- A vision statement. This will be a concise outline of what your business purpose and goals will be.
- The people. By far the most important ingredient for your success will be yourself. Focus on how your prior experiences will be applicable to your new business. Prepare a resume of yourself and one for each person who will be involved with you in starting the business. Be factual and avoid hype. This part of your business plan will be read very carefully by those with whom you will be having relationships, including lenders, investors and vendors. Templates for preparing resumes are available in your library, bookstores and the Internet under “resumes.”
- However, you cannot be someone that you are not. If you lack the ability to perform a key function, include this in your business plan. For example, if you lack the ability to train staff, include an explanation how you will compensate for this deficiency. You could add a partner to your plan or plan to hire key people who will provide skills you do not have. Include biographies of all your intended management.
- Your business profile. Define and describe your intended business and exactly how you plan to go about it. Try to stay focused on the specialized market you intend to serve.
- Economic assessment. Provide a complete assessment of the economic environment in which your business will become a part. Explain how your business will be appropriate for the regulatory agencies and demographics with which you will be dealing. If appropriate, provide demographic studies and traffic flow data normally available from local planning departments.
- Cash flow assessment. Include a one-year cash flow that will incorporate your capital requirements. Include your assessment of what could go wrong and how you would plan to handle problems. Include your marketing plan and expansion plans and refer to helpful government websites such as the Small Business Administration.
- Write out your basic business concept.
- Gather all the data you can on the feasibility and the specifics of your business concept.
- Focus and refine your concept based on the data you have compiled.
- Outline the specifics of your business. Using a “What, where, why, how” approach might be useful.
- Put your plan into a compelling form so that it will not only give you insights and focus but, at the same time, will become a valuable tool in dealing with business relationships that will be very important to you.
- Review the sample plans we furnish and download the blank format to a MS Word document. Fill this in as you progress though the course.
- A sound business concept. The single most common mistake made by entrepreneurs is not picking the right business to begin with. The best way to learn about your prospective business is to work for someone else in that business before beginning your own. There can be a huge gap between your concept of a fine business and reality.
- Understanding your market. A good way to test your understanding is to test market your product or service before your start. You think you have a great kite that will capture the imagination of kite fliers throughout the world? Then hand-make some of them and try selling them first.
- A healthy, growing and stable industry. Remember that some of the great inventions of all time, like airplanes and cars, did not result in economic benefit for many of those who tried to exploit these great advances. For example, the cumulative earnings of all airlines since Wilber Wright flew that first plane are less than zero. (Airline losses have been greater than their profits.) Success comes to those who find businesses with great economics and not necessarily great inventions or advances to mankind.
- Capable management. Look for people who you like and admire, have good ethical values, have complementary skills and are smarter than you. Plan to hire people who have the skills that you lack. Define your unique ability and seek out others who turn your weaknesses into strengths.
- Solid financial control. You will learn later the importance of becoming qualified in accounting, computer software and cash flow management. Most entrepreneurs do not come from accounting backgrounds and must go back to school to learn these skills. Would you bet your savings in a game where you do not know how to keep score? People mistakenly do it in business all the time.
- A consistent business focus. If you think of specific products or services you will find that specialists will outperform non-specialists. Zero in on something you can do so well that you will not be subject to competing with someone with a lower price.
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Homerun Nievera is a serial techpreneur, digital marketer and professional speaker.
Apart from managing tech enterprises, Homerun is the publisher of a blogazine network that delivers niche content to its audience.
He also a Certified Distance Educator from the University of the Philippines and has launched Edusentro.com with the objective of bringing free education to under-served areas everywhere.
As a blogger, Homerun writes across various topics but looks into techpreneruship as his main course.
He seeks to help entrepreneurs build their digital presence and make a difference. Follow Homerun on Twitter @bnievera