JUST like in any other endeavor, starting a business entails much effort other than just having a capital to pursue it.
According to business book author Richard S. Ruback and Royce Yudkoff of Harvard Business Review, owning a business “offers significant financial rewards - as well as personal and professional fulfillment.”
Having your own business, no matter how small it is, “means you can be your own boss.”
However, these are just some of the perks when you have your own business. But what does it take to start a business?
Talking to some small but sustaining business owners in Davao City, here are their points of view:
Daylyne Snow Geloca, proprietor of the home-based Snow Cupcakes:
Interest. I started my small online business through sheer interest. It just sustained as the days went by, however.
For those who are starting their business, always be enthusiastic about what you are doing or selling and always show your best. Never, ever lose hope because in business there will always be ups and downs. Always be positive and be happy in your craft.
Be creative and the rest will follow. If you have the skills good things will follow. And always ask for guidance from the Most High.
Dorothy delos Reyes-Travenio, founder of Funshot PhotoBooth Davao in Agdao
Identifying what to offer. To those who are planning to start a business, the first thing is that you should identify what is your product or service that you can offer. For example, if you venture into the food business, can you do it on your own so that you will have lesser capital input than if you need other help?
Another thing is can you be proud of your product or whether your product can be ahead with its competitors? You should also consider the difference of your product or service from what your competitor can offer. You should also create something different and think ahead of your competitor.
Hard work and perseverance, you should have those traits, then, of course, you should be ready for downs, but you don’t have to settle in the bottom; persevere until you achieve your goal in an honest way.