24/09/2020
Real Talk:
YUN TOTOO BESH, NEGOSYO BA TALAGA ANG SINIMULAN MO O CHARITY??
Many individuals with a dream and an entrepreneurial spirit set out to start their own business. That dream can quickly turn into a nightmare if you don’t have the right mindset to keep the business running.
The first thing every entrepreneur should do is get educated about the price of the products they want to sell.
Hindi yun bagsak presyo agad makahakot lng ng mga customers, you have to set price ceiling sa lahat ng produktong binebenta mo, bakit??
Pwera sa pera na kinapital mo may mga additional expenses pa na dapat isaalang alang tulad ng,
TIME
Your time is a valuable resource, and you can’t afford to waste it. Are you spending too much time and energy on your business pero hindi naman sapat ang nakukuhang profit?? Are you neglecting yourself, friends or family?
Sa economics, if your doing business.. always consider opportunity cost..OPPORTUNITY COST represent the potential benefits an individual, investor, or business misses out on when choosing one alternative over another.
Another thing is, try to consider not only your Explicit costs but your Implicit Costs as well.
Launching a new business can be invigorating. However, getting caught up in the excitement and neglecting the details can lead to failure.
Above anything else, observe and consult with others who have traveled this road before—you never know where you might learn the business advice that helps your particular business succeed.
Efren E. Alim Jr., MBA, PCC, RFP
President
Peak Advisor ( Business & Financial Coaching)