Starting a business

First and foremost when you think of opening up a business

you have at least money to open up one.

How much money should one have to start a business?

It depends on what type of business do you have in mind.

Are you opening up a small business or a big one?

That's the next question.

If you want to start small then there are so many small businesses

that needs only a small amount.

In the Philippines, there are so many small businesses

that sprouted anywhere else.

If you are living in Manila, you can observe many

small retail store, sari sari store, e-loading store,

carenderia, lugawan, bukohan, barbe quehan so on and so fort.

you can start this type of typical businesses

for as small capital of 1,000 pesos to 5,000 pesos.

This will do as long as your target market is clear to you.

If you are planning to put up a business that cost P50-100K or more,

then i would suggest that you should write a business plan,

especially if you are planning to expand or open up more than one branch

of your dream business.

Sample business plan content looks like this:

Why do we need to have a business plan?

First is, in order for you to determine if your business in mind will succeed in the long run.

It must be written in a piece of paper what are your goals in putting up a business.

Your target market must be clear - who are they?

Your business location should be within the proximity of your target market,

You will be able to know how much overhead expenses you will be needing

and where will you get the finances.

Who are your competitors.

What possible threat are there.

etc. etc.

So if I were you, before looking for a commercial place

where you wanted to put up a business

try to make a business plan on a piece of paper first.

This will guide you a long the way.

There are more successful entrepreneur who writes down their goal first

on one single paper before striking.

According to Winston Churchill:

"Those who fail to plan, is planning to fail."

Do not worry if you do not know how to write a business plan

you can google them on the internet on how to write one.

So, how to start a business? First thing first, write a BUSINESS PLAN. 

You won't be astray, promise.