Philippines is an archipelago in Southeast Asia and home to 7,100 island, a small modest country that is considered part of the third world. Foreigners would describe Filipinos to be resilient, friendly and happy people. Which is when given a thorough understanding is relatively to the point. Since Filipinos would welcome any foreign nationals with an open warm smile. The hospitality that most Filipinos are known for would never be denied when visitors come knocking at their homes. Happy people, that despite the misfortune that comes their way they can still find a reason to smile and fight all the odds with a positive attitude. Resilient since they can be tough in facing any situation that is given to them with optimism. Though poverty is evident, this does not hinder Filipinos to strive. Indulging in self pity is not something they would consider instead they would do everything in their power to move on and stand on their own two feet nonetheless with a positive attitude.
The truth is, there is no specific answer for this and idea is more important before jumping into any investment. American products already penetrated the Philippines because it is more cheaper to put up an investment in the country. Starbucks and 7-11 convenience stores has been multiplying like mushrooms in malls and in the city corner lots. A business plan was already formulated to ensure a lower risk of bankruptcy upon operation. This alerts an individual that businessmen or being an entrepreneur has the power to allot a budget for testing the operation. They have a budget for the risk specially in terms of testing a specific location.
Preview the store where you want it to grow
Whether a small or a big enterprise, previewing or predicting is a must for any investments specially for start ups. Selling survives in the mind of a futuristic view. One of the best example is the company called "CDR-King. " The company started in the Philippines and it was just a humble CD and DVD retailer/wholesaler. Today it is one of biggest tech stores in the country and has stores nationwide providing multiple lines of generic tech products. It targets average wage earners and others class and it is unstoppable since we are already in the computer era.
When starting a business remember to start with a goal or a dream in mind. Do not think of the income yet. It will surely comes as you do your best to create a productive routine finish the smaller goals in later can become the big picture.
Choose what type of business you like
Every bit of idea is worth it with hard-work and determination. There are lots of opportunities that you can never imagine that can make a living and later a fortune. A massage parlor is a good service which has minimal cost of products because manpower is the main product it offers. Lotions, powder and some fragrances are the only thing that needs supply. Remember that your team should be compensated well as they are the asset and key to the business success.
One unusual business is a Yo-Yo string company and it originated here in the Philippines.
The owner started retailing strings and had the concept of mass producing the strings. It was a success and it now caters from different countries namely Japan, Malaysia, USA and other parts of Europe where yoyo players are.
Experiment every now and then
Business is like cooking a new recipe you did not know. At first you need to study and gather the ingredients needed to make that special menu. Prepare everything from the right measurements and cook ware to ensure the food will be cook the right way.
If just in case you made a mistake, an adjustment can be made in the next attempt to cook it. The same way in operating a new business, you need to prepare on how to cook it and disregard the mistakes which makes you more wiser and adapt to the environment changes.
Follow your passion or whatever you think will be profitable
"Passion is the spark of the fire." Do this little sparks and see how it grows with persistent efforts in the entrepreneur's part. One mistake of others is looking right away into money. Income will gradually increase in time. Adjustments with certain conditions are needed to make any business succeed. Promos during seasons must be applied to update the consumers about the new offers that will surely be loved especially for patrons.
Passion for change has all the ingredients for a rising entrepreneur. As they say, it is hard to beat a person that never quits and that is the real deal in life. Keep learning to adapt the changes that will occur in the future because we live by preparation before something comes up.