Small Business for 20-something

February 25, 2015

Becoming a young entrepreneur may be hard for there may be judgements on your age. I remember the time when I started hosting for weddings and debuts, I was 17 and in my second year in college. I felt like most clients show doubt whether I can really do it because I am too young, no experience on love and relationships as well as haven’t had my own debut, yet I want to be an emcee. 
But since I believe in this talent that God had blessed me I stood firm and make my way to success. After a year I gained an award as the. 2013 Wedding and Event Emcee of the Year and was able to host more 100 events.

Just like what I heard before, Entrepreneurship is living a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t.entrepreneurship is.

Step 1. The very first step in order to seal the deal of the small business is of course to have a plan. You may have an idea on how to write a proper business plan wherein you give a description of the business you with to put up, product information, target consumers, way that you will sell yr product and so on and so forth. This business plan will be your very guide and the document that you will rely most in the future. You can flip this from time to time in order to know how you first planned the business to be.

Step 2. Now that you have your plan with you talk to the people around you and you may ask for financial support through an investor. If you have your savings from your schooling then you can ask your parents to lend you some more money to take your idea from paper to real business. You may also get your colleagues as business partners.

Step 3. Deal with the legal stuff such as registering you business with DTI or SEC and clearances from Barangay and NBI. By this time also you should have an idea whether to go as sole ownership, partnership or a corporation depending on the start up amount that you have.

Step 4. Stepping up as an entrepreneur is also a big financial decision so make sure that you are recording everything. Be hands on in your business and manage your cash flow carefully. Strive hard for the first year and do not think first of getting some help or workers if the money you are generating is still not enough.

Step 5. You also need to be open with you competitors and learn from the good that they are doing. Study how they market their products and run their business. Whenever I attend a wedding for hosting or coordination I always like to observe what is happening around me. What are the things that I could improve about my service and my team’s service.

About two years ago I shared some business ideas that you can easily start. Here are some more that can be a good start up plan for you.

1. Instagram Shops. Almost everything now can be sold through Instagram. You just have to make an account, take a picture of your products, post and have a trusty courier to deliver your sold items.

2. Buy and Sell on OLX. You can buy gadgets and sale them for a higher price and OLX is the type of platform that works well with this one. From smart phones, laptops and more you easily sell them in OLX and wait for the right customer.

3. Food kiosk in your neighborhood. For a small capital of let’s say 5000pesos you can sell meryenda in your neighborhood ranging from bananaque, fish balls, kikiam and palamig.. This is a great small business especially in the summer for students on their vacation.

Be expectant for opportunities of growth in your business. This is possible in God’s name and in your hardwork and perseverance as well. Make sure that you grow your business well perhaps go for a new concept/product or maybe another branch. Still always ensure to keep a business plan with you so that everything will be in record. I hope this post helped you.
Be better in your finances. Save Now, Invest Now and walk your way to success. Sign up in my Email List and receive templates to get you started in your Financial Wealth. Follow me on Facebook and Twitter for better updates. Godbless

Clariza Glino

Izza of SavingsPinay helps Filipinos bridge the financial literacy gap one content at a time by providing insights and tips on budgeting, saving, investing, side hustle and growing your net worth. Aside from this blog she also writes at www.izzaglinofull.com, a beauty and lifestyle blog for frugal Pinays and manages, www.izzagevents.com, a wedding and event business since 2011. For inquiries, topic suggestions or future collaborations email her at izza@savingspinay.ph


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