Common sense nowadays is uncommon. It’s common sense to eat healthy food but we pick chocolates over vegetables without blinking. It’s common sense for parents to ask their daughter if the guy who proposed to her is trustworthy and hardworking but the first thing parents ask is what’s his business…It’s the vernacular for Is he wealthy? (Ano bang apelyido nya? Kasi kung ang apelyido may Dating, may Datung!) It’s common sense to put God first in our list of priorities but often he is at the bottom end.
We can tackle a lot about what’s ‘senseful’ and what’s senseless but our topic is about what’s common sense in business. I will be discussing how to’s for a start-up small business.
Let’s start with the most important part of the business. You! Do you have what it takes? Do you have the courage to pursue your dreams in life? Are you ready to be ridiculed by many and criticized by the majority? I’ll be honest with you; it’s not a walk in the park. Between 75% and 90% of all new businesses fail within the first 10 years. Starting a small business seems to be right up there with shark-diving and Race car driving as a dangerous activity that’s best avoided.
The good news is that anyone can build a successful business. Anyone can be successful but not everyone will! Contrary to my prior belief, now I don’t believe that businesses is for everyone. Although I do believe that everyone should try to start and build a business. And the only way for you to find out if a business is for you is to start one. A business is a vehicle to reach your dreams and make it a reality. It’s one of the most exciting things you will ever do in your life.
Here’s a roadmap to our journey: First chapter is about “Building on your best assets.”
2) Your Employees
3) Your Suppliers
4) Your Capital
5) Your community.
I know it’s odd but I feel like starting first with this before the dreaming stage, which is the conceptualization of your business. I’ll cover it in chapter 2, “The Small Business Cycle.” The third chapter is about “The Small Business Traps.” Last chapter is “What if you failed.” (note: I didn’t include the parts for the succeeding chapters.)
If you plan to be a successful entrepreneur read on. Ready set…