Why You Should Be An Entrepreneur?

Have you ever asked yourself this question: Why you should be an Entrepreneur? I mean, why not?

Why not be an entrepreneur for a change? Instead of planning your future according to the salary that will be given to you by your employer or your boss in exchange for the talent and skills that you have, why not use it for your own business and decide how much profit you want to make out of that talent/skills that you have?

Most of us think that we have to have a job to get paid and earn money. Regardless if we slave ourselves from our job just to earn more. But I know a lot of you will agree that even if you do overtime or even get promoted, you will never earn whatever percentage your boss or your employer is earning because you are not the business owner.

While I was working in London as a Sales Consultant, I was so happy I finally found a job that I could earn more than what I was expecting. At that time, I only wanted to earn more than 80,000 pesos if my salary in Pounds is converted to Peso. And I was happy and contented that I was earning what I wanted to earn. For me, that was already huge because I was only working for 20 hours a week and I was earning more than my dad's salary who was also working in London full time which means 40 hours a week.  

But on my second year at Carphone Warehouse, there were some changes with our Team Managers. The Team Manager that was assigned to us was really good at his job. Since I was performing really well with my sales and I was hitting my targets, he pushed me to do more. He made me realize I could earn more than what I was earning if I were to raise my standards with my sales targets. So what he did every month was to challenge me to hit more than what our company has set for me. He offers a reward out of his pocket as a prize if I am able to hit the sales targets he has set for me. I was up to it every month and the result was really astonishing because from my salary of 80,000 pesos a month including commissions, it went up to more than 200,000 pesos a month. That is such a big difference right?

I did not know I could really earn that much but I was really thankful to him and I even told him that I wished he was already my manager during my first year at work so that I could have earned higher income.But you know what he said? He told me that he is happy to see me happy and contented with what I am earning but whatever I am earning is not even 1% of the profit that our company is making out of the sales that we bring in to the company.

What he said to me made me think.I was like, yeah, I am one of the sales consultant of the company which brings the sales for the company and I keep on working hard every month for me to get a higher pay but in reality, I only get less than 1% of the company's profits. That only means, if I am the business owner, then I get to earn most of what the business earns.

Not only that, since I am the business owner, I can dictate what time I should work and where to work. I get to decide what to do with my time. Talk about flexibility right? I know it will  entail a lot of risk getting into a business and a lot of hard work to learn how to be a responsible entrepreneur. There will be failures along the way but it will be lessons that will teach you on how to succeed in your business. As the entrepreneurs always say, don't be afraid to take risks!

Everyone will have their own reasons along the way why they should be an entrepreneur and it should be reasons that will keep them going until they become successful with their chosen business.

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Ready To Be An Entrepreneur?

When people are asked if they want to have their own business and be their own boss, many would say yes. But when asked if they are ready to be an entrepreneur (business owner), they are taken aback and those who might have answered yes on the first question doubts themselves to answer yes to the second question. What does this simply mean? What does it indicate?

There are many reasons as to why people think and feel that they are not ready yet to be an entrepreneur even though they want to have their own business. Wanting to have your own business does not equate to the fact that you are ready to be an entrepreneur. You might hear some people say that when you have the desire to have your own business, you are ready to go as long as you have that burning rage and desire to own and run a business. But it's not the only requirement in becoming an entrepreneur. There are several factors to be considered to be able to answer the question of being ready to become an entrepreneur.

First is your idea of what business to pursue. What product do you have in mind?What type of industry you want to enter. You have to have a concrete idea  on what type of business and what type of industry you want to enter as there will be a lot of competition. An excessive research is vital to know what is happening in the market and everything that will affect your business so you can plan ahead and be able to come up with a good business proposal.

Second is your financial resources. Do you have the financial capability to handle  all the financial needs of your business. There will be a lot of ways on how to acquire capital to start up a business but the important thing is that you have a sufficient cash flow that will back up your business until you see the profits coming in. 

Third is your way of handling stress. Owning a business and being your own boss does not mean you will be from stress. Because it is your own business and you're not just an employee getting paid to work, you have to be careful with every decision that you make as it could result to failure and it is your own money and source of income involved if the business fails, not someone else's money. And this means that you need to know how to handle the stress that your business will throw at you.

Lastly would be your hardwork and perseverance to become successful in the business that you have chosen to pursue. It takes a lot of dedication and commitment to build your business and make it grow. You just don't let other people run it even if you have the money to employ and pay them. You have to be there in every step of building your business.

After you have answered all these questions in your heart and mind and if you can peacefully answer yes to all the questions then you can say to yourself that "I am ready to be an entrepreneur!"  

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Small Things To Big Things

When I was in College, while taking up Marketing, we had to develop different products, business proposal,marketing plans and presentation and everything that involves Marketing. Though it was stressful on our part as students, I actually enjoyed making business proposals and doing business presentation. And because I enjoyed it, I came to realize that the career that I wanted was to be a business owner someday, a full pledged entrepreneur.

But in reality, being a student making business proposals is so different from being a business owner. I can say that as a business owner,you are also like a student trying to learn the bits and pieces of owning a business. The difference is, as a student, you are doing it to get a good grade and pass the subject and eventually graduate, but for an entrepreneur, it's not just about passing grades or the subject, it's about passing all the obstacles that comes in owning your own business and it doesn't stop as there is no graduation, it is a continuing process of learning to build your business to grow. As an  entrepreneur, you don't stop building your business even if you're already earning billions of money.


Take Jollibee as an example, it only started from a two branch ice cream parlor in 1975 then later on offered hot meals and sandwiches in 1978 opening up to seven outlets that later on offered the hamburger concept which paved way to overturn the face of fast food chain in the Philippines. And the rest is history as where they are right now in our Market. And they are one of the best examples of an entrepreneur who doesn't stop even when they have earned billions already as they continue to expand their presence in the industry by acquiring known food companies such as Chowking, Red Ribbon, Greenwich, Teriyaki Boy and the latest is Mang Inasal who was aggressively competing within their market share. Joliibee only proves that being an entrepreneur is endless, you always seek ways on how to grow and expand even if you've already built an empire that is strong and will last for generations.

Such story is not only known for Jollibee's humble beginnings, who doesn't know of SM Group of Companies business history? Who would not be familiar with its owner, Henry Sy when he is the riches man in our country today. Started selling shoes at a young age and later on expanded in putting up his own department store which is still open at SM Quiapo, he has expanded his business into owning all the SM malls where we usually do our shopping into banking and real estate as they are building their own properties such as condominiums.

These are inspirational stories that can totally lift up your entrepreneural side that anyone can be an entrepreneur if we just work hard and continue to learn to grow. Don't stop believing in what you can do as big things come from small beginnings. But you will never realize your dream to become an entrepreneur unless you start now.

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How Do You Look At Marketing And Selling?

I've been so drawn into Pinterest lately with so many information you can find that has pictures, articles, videos, infographics and a lot really! But this post is not really about me promoting Pinterest, but you really should try, I must say.

It's about this amazing quote with a nice image that has caught my attention today about how we do business and can be applied to network marketing as well.

image credit to workwithjoanharrington.com

It all says everything that a network marketer, business owners, online sellers or anyone in particular who has something to market and sell whether online or offline.

I think many of us who are doing business are so caught up into the realm of making money that's why we think of so many ways on how to market our product and how to sell it. We might have forgotten the most basic thing that everyone should learn in the business, that customers are the lifeblood of every business and they deserve to be taken cared of. Customers or clients or downlines are not just money making machines where we need to continuously market our company and sell our products to them but instead they are human beings who has needs and wants to be fulfilled. 

Basically the reason why they bought our products or services or joined our MLM business is because they needed and wanted it in the first place. For such reasons, we should start look after their needs by connecting with them an knowing how we can be of better service to them not because we want to sell more to our customers or to earn more from our downlines but because we want to serve them .

If every business or network marketer would have these value or mission set up in their mind and hearts, wow, the business world will be much in a better place for people to do business with in making money by connecting, not just marketing and serving, not just selling.

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10 Mottos To Empower Yourself

I have been reading this book by James Valentine, MLM Power and I think these empowering mottos that he has shared in his book does not only apply to MLM or network marketing but to everyday life as well that will help one person succeed.

I would like to share these 10 empowering mottos that you can put into practice in whatever kind of business you are doing.

1.  No GUTS, no glory!
2.  Action today not tomorrow!
3.  If it is to be . . . it is up to me!
4.  I shall be the best that I can be!
5. My past does not equal my future!
6.  Teamwork makes the dream work!
7. I must do what I love and love what I do!
8.  If my heart is in it . . . the sky is the limit!
9. If I am committed . . . there is always a way!
10.  When the going gets tough . . . the tough get going!

Very simple and easy to remember but if put into practice, I'm sure it will have a huge impact in your lives.

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What Do You Know About Franchising?

Thinking of going into business? Not sure though of what business to go into? Let alone the product, the service or what marketing you should employ to your own business?

What about Franchising?

I’m sure most of us who are looking into getting into the business side has one way or another, thought of franchising first before we dive into the deep realm of putting up our own business. Why not? If Franchising would help us to learn more about running a business without the added stress of coming up with your own product or service to sell, a business system that you can rely on to make your business work. It’s like Franchising gives you the advantage of having a lifeline in case you would always need one as you can ask for guidance and support from the Franchising company you choose to partner with.

But one must first understand what Franchising is all about. Franchising is considered as one of the three business strategies that a company may use in capturing a market share , that is from a company’s viewpoint. It is a company’s business strategy to acquire new customers as well as keep customers, a way to expand and further distribute their products and services to wider reach of market. That is why Franchising is offered by companies for those entrepreneurs who are looking to capture a slice of the market they are sharing. 

According to the International Franchise Association (IFA), franchising is defined as an agreement or license between two legally independent parties which gives:

• A person or group of people (the franchisee) the right to market a product or service using the trademark or trade name of another business (the franchisor)
• The franchisee the right to market a product or service using the operating methods of the franchisor
• The franchisee the obligation to pay the franchisor fees for these rights
• The franchisor the obligation to provide rights and support to franchisees

In short, franchising can be defined as a strategic alliance between groups of people who have specific relationships and responsibilities with a common goal to dominate markets in order to keep and get more customers.

                     

                                      

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