Merged: How to Start a Business?

[Jeffrey]

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You really need to have the financial support before establishing a business. "It takes money to make money."

[optimusprime]

Hi good day!!!! first problem that really hamper me of becoming an enterprenuer is the incapability of sustaining the capital... I have lots of ideas that I've generated but as of the moment I'm just putting it on sketch... I would just like to ask if are there institutions that lends money formally, with longterm basis, a sort of microfinance? If there is so, please let me know? this is a very nice topic youve got mr. j........

[j_ybanez]

Thanx guys for the compliment...

as what alot of people think, "you need money to make money". But i would say otherwise. Most people look at entrepreneurship success based on the results of the people who started early in their lives. e.g. Lucio Tan, Danding Cojuanco, Bill Gates & many others. Even here in Cebu, there are tons of secret millionaires here. But what most people do not see is that these successful people in business started with basically nothing.

Every success has to pass thru a natural process. All simple to complex things passes thru these learning processes. Successfull people didnt have money to start with, but they had courage to face what most people feared. The fear of failure...

a CAPITAL is defined as assets available for use in the production of further assets. As you can see, a capital doesnt necessarily mean something in a form of money. You yourself is already a CAPITAL if you make use of yourself properly. The problem is, most people think of getting an office, hiring alot of people, frontloading with inventory, and drowning themselves with overhead costs, when what they wanted is to START with the business process first. Every endeavor starts with a first step.

Guys, you dont have to start big in business. What is important is for you to start with a BIG VISION, then organize your MISSION, then start the business small, then let the vision guide you to becoming big.

Empress_Of_Drac : What have you learned today?

Jeffrey : Financial support will come in its right time when you start doing the business right. I guess you'ld want to start your own IT Company someday. Look for your interest first in the field of IT that you'ld want to start with your business. Maybe in web Designing, systems devt, graphics editting, video editting... you decide.

optimusprime : start with your business ideas NOW! Put your ideas into writing and present it to investors or even to a bank. If they see that your idea is worth the investment, they'll give you all the money you need. You need not pay financing charges pa.

"Excel in life and never settle for mediocricy"

[pnoize]

j_ybanez: nice post!

i agree with j_ybanez. I know people in the publishing and printing industry that started with nothing but their will to earn and learn. they started with almost absolutely nothing, no office, no inventory except their vision and their business smarts.

they took time to learn everything there was in the industry and it all paid off in the end.

[Jack]

Sir J! You have a very nice topic here! Please go on... :o

About your encouraging comment to OptimusPrime, could you pls tell me how it is usually done? I mean, are there any standard formats/requirements? Feasibility studies, formal papers,...?

Any guidelines as to who to aproach (the investors / banks)? How to aproach and introduce your ideas to them? How would i know that i am aproaching the right persons?

Im not saying that i dont trust anybody about my ideas but wont this risk my ideas into encroachment? They have all that is needed to make good business out of my ideas, right? Wont they take advantage of me being incapable of having a capital?

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I got a 3 year-old home bizz. Ginagmay ra kaayo but i have bigger plans for it. I want to put up a stall here in my town just along the highway.

I got another bizz idea. Heard of Wireless Internet connection (doesnt need a telephone line)? I want this be put-up here in my town-Consolacion. Para maka-benefit pud ang among mga towns' folks. Problem is it needs a larger capital! Payback for your initial investment is 6 months only.
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I hope this topic will go on as far as it could. We really need this kind of discussion.

[Jeffrey]

"It takes money to make money." This is a principle that cannot be denied. Saying "otherwise" is hypocritical (sorry if it's offnesive to you). Even applying for a job (to make money again) in a company even takes money. You have to spend a little dough to process those job requirements. You have to pay the interent cafe for the PC rental and the print out. Bill Gates bought an application from a certain software maker so he and his friends could make a deal with Xerox. He spent 50K for it.

[pnoize]

What is being ascertained here is that you don't need a large amount of money to start your business.

bill gates already had capital to buy the software from xerox.

[knight007]

i agree with j_ybanez, i've been into business and I could say large capital is not all it takes to be in biz.

[larryloy]

wow nice topic huh...!

[Empress_Of_Drac]

@j_ybanez

The fear of failure...

--..yah..i do agree..people tend to back out since they dont want to face big problems and difficulties...and especially d FAILURE to succeed...but there are many who are brave enough to venture the very challenging world of business...but then they still end up nothin' becoz they lack the skills and prerogative to nurture certain type of businesses. But then, 8's gewd to hear from you that anythin' can be of used as a capital to start a business. But the question is, how can we manipulate this things you are talkin' about to convert them into a capital?...n does business requires older age and more experiences so that you would be sure that you will be successful?....

ot: wot i reli min s yeah..i learned somethin'...r u a teacher or wot?..toink