We hear many rumors about how difficult it is to grow a small business in the Philippines. These are just rumors, but here are the facts. I watched my good friend Todd, who is a Filipino, over the past four years period of time. He is a good example of a successful Filipino small businessman who knows how to create and grow small, successful, micro-businesses in the Philippines. This concept is brilliant in its simplicity and it works for starting any small business in the Philippines. It simply works, and that should be enough said.
Take any small business concept here and create a goal of earning 10,000 Pesos per month for that small business. That means that to begin you will invest 10,000 Pesos in any inventory for which you can establish one cart distributor or another distribution channel such as facebook or other marketing means. Okay, so you invest 10,000 Pesos in inventory and you begin to distribute product to your one distribution channel. Your distributor goes out and sells the product and returns to get more stock from you from the 10,000 Pesos stock that you have already inventoried. You have already determined that in one month’s time with one distribution channel, you will earn a profit of 10,000 Pesos on your original investment. That means that at the end of the month your micro approach with one distribution channel will have earned you a profit of 10,000 Pesos. You purchase your inventory at wholesale prices in order to achieve this goal in the first place.
The second month, rinse and repeat what you did the first month, only add another distribution channel so that your marketing efforts will yield double the results. So in the second month you can invest 20,000 Pesos with two distribution channels and achieve double your profits in the second month. Make sense? Of course it does! This is what happens in the second month. You will purchase twice the inventory and establish the second distribution channel immediately. The result will be that after the second month you will have earned 20,000 Pesos from your original investment. After you deduct your cost for inventory which is 20,000 Pesos, you will realize a guaranteed profit of 20,000 Pesos from one micro-business in the second month of your efforts.
Now each month you can increase your profits from one micro-business by 100%. After ten months of doing this just from one micro business you will have created ten distribution channels and realized a profit of 100,000 Pesos on your original investment of 100,000 Pesos. You do not have to come up with 100,000 Pesos at the beginning as you have created an incremental approach to growing your micro business through ever increasing distribution channels. Voila! You have now learned the secret. Rinse and repeat.
Now after ten months of growing your first micro business, begin to grow another, and another using the same principles as mentioned above. You will soon grow an empire of successful micro businesses in the Philippines by mastering the concept of this method. The possibilities are endless here so best of luck with your business endeavors. Salamat po, Mabuhay, Filipinas!
Patrick Ireland – Publisher of: http://www.patrickirelandsreviews.com