My Own Business

To start off, I do say people never get going without a kick in the butt.
I am retrenched due to my former company wanna withdraw the whole operation back to Japan, combining the operation with another.
It is only after this piece of information/shock that really sinked in deep down my core that I realise that there is nothing called stable work and anything can help to an organization.

But from this event, it ticked me to ignite my engine and the dream that I do like to have many years back i.e. to be your own boss and be in control. I looked through the internet for information, chatted with my friends, and read up on books. Ideas are swarming into my head many times but to be shelved somewhere else after much analysis of the facts and market.

I decided to go into travel related business and software business which I have loved all along only after much analysis and finding the right partners. We discussed on the business, our goals, visions and missions. I analysed the market we are targeting, calculate the possible costs, the breakeven time and the roadmap and schedule for our business.

For my travel related business, we have decided to bring it on the worldwide web so that everybody can know us. I registered my business, get a paypal account, learned to build my sites and uploaded it in about a month or two. The work does not stop there as I registered my site for search engines, build valuable lines to existing travel networks, go to the place where I wanted my customer to go and then blog on it. Best of all, get nice pictures to show the rest that it is a good place to go.

Believe it or not, there is always a gem somewhere for you to recognize even though it is very simple. We have created brochures/pamplets for ditribution and even talked to tour agencies.

It takes sometime for the first customer to enquire and go to our beach resort. After which the traffic slowly builds up and we sort of get hold of the trends and can identify when customers would be coming in. This can help in our promotion of our activities.

I would stay that we are currently get back nearer and nearer to our breakeven point. What to say for a low cost venture! Good enough for us as a part time business! We are crossing our fingers, hope the traffic builds up. :)

Where do you start with?

I have asked myself the same question and have gone through business references and online. The answer is most probably need to start from you.

You will need to have what you want to do in mind, it can be either due to your interest or you have very good expertise in it.

So you know what you wanna do, what's next?
All of these processes should be written down on paper. And can be referred to as your Business Plan.

The following list should be in your homework/research!!!

1) What is your liking/expertise?
2) What is your mindset with regards to your business?
2) Who are your targeted customers?
3) Where to find your targeted customers?
4) What is your Unique Selling Point (USP)?
5) What is your business structure like? Business Process flow.
6) What are the cost involved? Fixed and variable.
7) What are your marketing strategies?
8) What are your goals, vision and mission?

You would need to know whether you be going online or owning a physical store or both.
The cost would make a whole lot of diffrences.

I would say that the right mindset and a good planning can lower your risk and bring you nearer to your goals. Don't forget action speaks lower than work. Be prepared for lots of work!!!!

What are the crucial steps?

I have started some business online and it seems to be starting in the right track.... even though it is a small one to start off with...

Have been searching online for ways to startup businesses and even bought books on it... and it seems that some of the online tips or trying to lure you into duplicating their business model is a bad way... as it only ask you to startup a page and copy their concept and request you to find other people to do the same.... looks like a golden triangle...

If you have been considering if you wanna start off one yourself, you should be considering the following questions:

1) What is your passion or expertise? (without knowing what you want or what you can do, it will get you to no where)

2) Are you starting a big or a small business? (better to start as small as business don't fly off like a plane!)

3) Have you considered the market you are targeting? (Would you have customers going to do business with you?)

4) Do you plan your business financial and cost? (You need to know when to persevere and when to withdraw)

5) Are you determined to stick to your plans no matter what it takes? (You would need a strong mindset to get things started)

6) Are you starting alone or as a team? (I suggest that you get a trustworthy team as few brains are better than one!)

If you didn't even bother to ponder on the above questions, I advise that you better don't pour your money in.... as without a good planning, you be like the big group of people who tell others that starting your ow n business is not very hard.... the 90% that have failed!

Without a good planning, risk can be so high! But with good planning, you can better your chance of surviving and achieving success!

I have targeted to start several business at a go... but I am sure that all would takes time and devotion to make things happened....

I would update more on my ventures!

I am available for consultation for those who would like to startup their business at a small fee... do drop me a mail at hungrypapasiow@gmail.com if you are interested!!!!