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“Mahal na Reyna,Nabasa ko po yong feasibility studies at business plan na reference ninyo na mas gusto mo na business plan ang tawag. Alin po ba talaga sa dalawa kasi kami po dito talagang feasibly studies ang tawag. Di ba eto yong binibigay sa bangko? Ano ang business plan? Eto po ang email ko: Carlo”Even when I was back in the Philippines, I know that everyone refers to it as FEASIBILITY STUDIES. I have no idea why, but then again, plain common sense tells me na it’s all about trying to determine as to whether or not feasible ba na magtayo nang business or what. I mean, yan siguro ang sinimulan nang phrase na yan.

Business Plan is really the same thing sa feasibility studies kasi ganun din yon, po-forecast mo yong business mo, lalagay mo lahat nang strategy mo ang everything. I went to a business school here in the US at kahit minsan, my professors never referred to is as feasibility studies. Ni hindi ko man lang tinanong. I don’t know why. Which is why I prefer to call it as such - Business Plan.

I’m glad you asked this one because it reminded me of my postings on gov.ph on the OFW Board. So, what I’m doing here is basically, re-posting what I had already discussed and hopefully this would help. This is not the entire business plan discussion.

So here it is and thank you for visiting my site, best regards to everyone!

—-REPOST FROM GOV.PH/OFW—–

Off all, I like this site. Thanks to my friend who forwarded me the link. Second, I agree with what most of you have said and so, eto ang masasabi nang Reyna Elena just to add or enforce somebody else’s opinion.

Ok, maupo kayo mga anak at pakinggan ang Reyna.

BUSINESS PLAN: MAP IT OUT

If life is a game, business is war. I suggest, read the book “The Art of War” by Sun Tzu. It’s my favorite. This is one of the must read book for us when I was doing my MBA here in the states.

If you are going into an internet business o kahit hopia business, start with a business plan. It’s always important to plan out and map out your strategies. You’d be surprised what you will find out. What’s seem easy in its face may not be easy at all. What’s difficult in it’s face, may not be difficult after all. So, it does requires some form of market analysis; sino-sino bang competitors mo in the area; sino ang market mo, how do you get them to go to your store; azan ang location mo; magkano ang fixed costs mo, ang variable cost mo ba tumataas nang todo? And so many things. Find someone who can help you prepare a business plan. If you don’t know, there are very good books in the internet on business plan.

MONEY

Of course. You cannot start without any money whatsoever. Money = readiness actually. So, the question is, are you ready? Do you have capital available? If not, can you get it somewhere? When will it be available? On what terms? Baka naman ang terms of payment eh mabangkrap ka nang disoras?

The old-fashioned trick actually is to save. Continue to save because you have no idea when opportunity hits. When it comes, and you have savings? Then allelujah! Make some good judgement.

PEOPLE

Simple. You want to go into business because you want to be successful. Therefore, if you want to be successful - sorround yourself with successful people, surround yourself with people that you can trust, with good people. Meaning: be very selective in GOOD way.

TIMING

Ok, so you have a business plan. Me pera ka also. Sangkatutak ang mga taong pinagkakatiwalaan mo’t they trust you too. Pool them all together and make quick and fast decision based on good informed strategy kasi baka mamya nag-open ka nang internet business eh paso na ang internet. You know what I mean? Timing is very important.

EXECUTION

Ok, so me business plan ka na.
Me pera ka pa.
Ang gaganda nang mga tao mo.
Maganda’t maaliwalas ang panahon.
ACTION ka na.
You have to make sure na yong takbo nang business mo eh walang mga bako bako. Iron out mo kung ano ano ang mga kinks. Read: try to be hands on kahit for a start.

FINALLY:

Count your blessing.
Not too many people have what it takes to be you.
Read: pasalamat ka naman dun sa nakatira above.

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