Perhaps more than owning a dream house or buying their first car, having their own business remains the ultimate goal of most people. Independence is best represented by being a business owner, given that by being one, you can distinguish yourself from 38,839,000 other Filipinos who chose to work for someone else in a nation of 100,000,000.
The most difficult aspect in any endeavor is starting it. A good analogy can be used by imagining yourself as a rock, which is an inanimate and immovable object but filled with potential energy. You cannot move unless acted upon by forces that initiate kinetic chain of events. In starting a business, the kinetic chain is initiated by one simple question.
Why do you want to start your own business?
Regardless of whether your motivation to start a business is rooted in frustration, jealousy, anger, despair, or hopelessness, this motivation has manifested from one simple activity that all of us do every day. Compared with other individuals, some may perform this activity frequently.
We dare to dream!
Our motivations to start our own businesses may differ but these motivations all come from a dream to lead productive lives, help others, or achieve personal growth. At the end of every dream is one goal: TO BE HAPPY.
“You got a dream, you gotta protect it. People can’t do something themselves, they want to tell you, “You can’t do it!” If you want something, you go get it. Period.”
This quote is one of the several inspirational lines from the movie, The Pursuit of Happyness. For those who haven’t seen the movie, it’s a story of one man’s drive and determination to succeed against all odds to provide a better life for his son.
Just like the experiences of Chris Gardner in the movie, pursuing your dream is never easy. Starting a business is never easy. It’s not just about having an idea, raising money, and executing the plan. Starting a business requires patience, resourcefulness, determination, and most of all, COMMITMENT.
If you believe you have these attitudes, then the time to pursue your business is now!
Here are 12 tips on how to start your business and ensure its success
1. Learn from experience
One of the best advices I received was from a friend whose family has owned and operated a successful chain of local hotels. I was still in college at the time, and he had been running his father’s business for the past 10 years. I asked him what advice he would give me to become a successful entrepreneur.
“Work in a capacity of an employee for at least two years. You have to learn how it is to work for someone before you can let others work for you.”
This is the best advice you can give to anyone who wants to become an entrepreneur, because the most successful businesses are built on managing your company’s greatest asset: people.
How will you know the ways to manage your employees if you don’t know how being managed feels like? How will you know the ways to approach them if you have no idea why they work and what they are going through?
Education is great because it gives us the tools to become competent and proficient at work. However, life is the greatest educational institution, and one of its most brilliant professors is HUMILITY. If you believe that the harsh realities of business are inferior compared to you, then you should not become an entrepreneur.
2. Find your passion
Budding entrepreneurs always ask themselves, “What business should I start?” without asking the more important question, “What is my passion?” The constant problem in starting a business is trying to replicate the success of others in a concept or trade that is not their passion.
If you ask random individuals on the street the kind of business they want to start, majority will say “food” because they see restaurants packed all the time. One may also say “because I love to eat.” Loving is not the same as having passion. When you have passion, commitment follows a few steps behind.
You are focused, and you will do the necessary steps to accomplish tasks without complaint or second thoughts. When passion fuels commitment, the chances of finding success are great.