Start-up to business

• Starting a business or launching a startup operation

  • Personal Evaluation
  • Analyze the Industry
  • Draft a Business Plan
  • Make it Legal
  • Get Financed
  • Set Up Shop
  • Trial and Error
• Personal Evaluation


  Checking if entrepreneurship is the right path for you. Do you have the skills, drive, and personality to thrive in the independent world?
• Analyze the Industry


  Research your target market, competitors, and industry trends. Is there a real need for your product or service?
• Draft a Business Plan


  This document outlines your business goals, strategies, and financial projections. It's a roadmap for your company's success.
• Make it Legal


  Choose a business structure, register your business, and obtain any necessary licenses and permits.
• Get Financed


  Secure the funding you need to start and operate your business. This could involve personal savings, loans, or attracting investors.
• Set Up Shop


  This might involve finding a physical location, building an online presence, or acquiring equipment.
• Trial and Error


  Be prepared to adapt and learn as you go. No business plan goes exactly according to schedule, so be flexible and willing to make adjustments.
• Reducing Fixed Costs


  • Organize or Register Small Business
  • Home or Shared Office
  • Part-timer Workers
• Organize or Register Small Business


  This likely refers to registering your business as a sole proprietorship or LLC. These structures are simpler and cheaper to set up compared to corporations.
• Home or Shared Office


  Working from home or utilizing a shared workspace keeps office rental costs low.
• Part-timer Workers


  Hiring part-timers allows you to scale your workforce based on actual needs, saving on salaries.
• Equipment and Resources


  • Secondhand Equipment & Machinery
  • Family Labor or Resources within Household
• Secondhand Equipment & Machinery

  Buying used equipment is a great way to save on upfront costs.
• Family Labor or Resources within Household

  Utilizing family members for tasks they can handle can save on hiring additional staff.
• Maximizing Efficiency


  • Subcontracting
  • Prompt Payment
  • Free Public Relations
• Subcontracting


  Outsourcing specific tasks to freelancers or subcontractors can be cheaper than hiring full-time employees for those specialties.
• Prompt Payment


  Paying vendors promptly can often qualify you for early payment discounts.
• Free Public Relations


  Utilize free marketing channels like social media and content creation to build brand awareness.
• Overall Strategy


  • Do Some Works
  • Maximize Resources
• Do Some Works


  This likely means the founders themselves are actively involved in the business, saving on initial labor costs.
• Maximize Resources


  This is an umbrella principle that encompasses all the above points. It's about being resourceful and getting the most value out of everything you have.
• By following these strategies, you can keep your startup lean and minimize unnecessary expenses while you get your business established.
• Registering before start-up


  • Choice of Business Name
• Choice of Business Name

  • Avoid long or confusing business name
  • Don't limit yourself to the current product
  • Avoid negative meanings in other language
  • Don't' pick a name that's too similar
  • Don't choose a name that people can't spell or pronounce
  • Be memorable but not to unique
• How to name a business

  • Name by desire
  • Own a word
  • Coining a name
  • Word mash
  • Word Twist
  • Name by a problem
• Important consideration in deciding where to locate

  • Market and Customers
  • Location and Logistics
  • Business Environment
  • Operational Costs
  • Additional Considerations
• Market and Customers


  • Demographics: Understanding the age, income, and lifestyle of people in the area helps determine if they are your target market
  • Foot Traffic: For businesses reliant on walk-in customers, high foot traffic is crucial
  • Competition: Analyze existing competitors in the area to see if there's a gap your business can fill, or if there's already too much saturation
• Location and Logistics


  • Accessibility and Parking: Consider how easy it is for customers and employees to get to your location, and if there's ample parking
  • Proximity to Other Businesses/Services: Being near complementary businesses can increase foot traffic
• Business Environment


  • Image & History of the Site: The overall feel of the area and the site's reputation can influence customer perception
  • Ordinances: Ensure local zoning laws permit your business activity and any signage you need
• Operational Costs


  • Building/Infrastructure: Evaluate the condition of the building and any renovations needed
  • Utilities & Other Costs: Factor in rent, utilities, maintenance, and internet costs
• Additional Considerations


  Style of Operation: Online businesses may have more location flexibility, while brick-and-mortar stores need high visibility
• Guidelines in acquiring machinery


  • Identify exactly what you need
  • Get a multi-purpose machine
  • Specialized machine designed to manufactured big quantities
  • Price
  • Engineering requirements
  • Other terms of the purchase such as sales, service, assistance, warranty, training & repair
  • Reliable resources
• Hiring and Training of personnel

  • Recruiting Personnel
  • Selecting Personnel
  • Training of Personnel
• Recruiting Personnel


  • Advertisement
  • Schools (PESO)
  • Employment agencies
  • Friend or relatives
• Selecting Personnel


  • Application form
  • Written tests
  • Interview
  • Reference checks
  • Requirements
• Training of Personnel


  • Onboard training
  • Job skill training
  • Soft skills training
  • Compliance training
• Accounting


  Process of identifying, classifying, recording, summarizing, interpreting, and communicating of business transactions. Also known as "Language of business", identifying, the economic events to ensure only transactions that relate to a business are considered.
• Accounting Process


  • Identifying
  • Classification
  • Recording
  • Summarizing
  • Interpreting
  • Communicate
• Identifying

  The process starts with identifying all the financial events that affect the business, separating them from personal or unrelated transactions.