Small Business? Sure!

(This is one of my early writings, please bear with me. Nagdagdag na lang ako ng Tagalog sidekicks)

Are you one of those people who are trying to start a small business? Heck, I think we all have this common dream, don't we? Or are you struggling to keep your small business survive in a slowing economy? Get a paper and pen ready. (o pindutin mo yung "Print", hangal!) These tips are priceless.

1. Stay up to date. I suggest you join an association from a certain industry that is related to the service you provide or the product you offer. Persistently research schemes and information about your industry. The "www" is just one click away. (hindi yung puro "Francine Prieto" at "Diana Zubiri" na lang yang kini-click mo...meron ka?!? Penge!) Subscribe to numerous magazines (hindi Hustler, libog mo talaga) that cover your business, and if I may tell you: they're tax deductible. Shhh! Most people don't know that. (pero hindi ko alam ang tax terms sa Pinas) After you get your subscription, it's a very good idea to read them too.

2. Create a strong financial plan.If you have an indistinct overall perspective on where you stand financially and have no short- or long-term financial goals, then you're like picking up a huge rock and determined to hit your own head with it (Tanga! ka Jorge). Don't let fate edict your outcome! If the business is a fairly big one, a very knowledgeable accountant is inevitably seen in your first circle of 'friends'. Plan to hire one geeky accountant. (preferably a PCCian)

3. Run cash forecasts. An ant who has prepared for the storm is more likely to survive than a relaxed rabbit eating a single carrot in the field. Take a close look at your future months' projected income or revenue, then definitely consider all of the future expenses you need to keep the business running. This is a must to avoid destructive surprises. Most businesses go bankrupt because the cash flow drained dry. (pag wala na talaga, utang ka na lang kay Bert Bukalan)

4. Get an honest and clever adviser(s) or a mentor(s). Even a small operation needs this...you can ask Bill Gates, he started with a mentor too! (si Lord Allan yata) Ask your family members or a few trusted friends to be your board of directors. These people should regularly review your business goals, plans and results. Having someone to give you (a B.J...hehehe) an objective opinion is critical. You may think that you're a lot smarter than they are, but pride will pull you down.

5. Balance work, play, and family. This is extremely essential for long-term success. Marriages fail because spouses spend too much time in the office, (tsaka mahuhuli ka ni Misis pag ganyan. wag mo sa opis tirahin, kaw talaga) parents get a little livid when their children don't visit for several months, and yes...businesses fall because of poor balancing in between the above mentioned.

6. Build a network. In a small business, it is quite easy to see yourself isolated. Find ways to meet people who can provide useful business support. (business support ha, hindi f*cking partners) Gather new ideas from new people. Encourage others to join your network, in exchange for a few orgies...no, no, that was a typo!

7. Be motivated and disciplined. Believe it or not, having discipline and motivation every single day is the hardest thing to do if you're running a business. It's very easy to get distracted (by big boobs and chunky butts) and start setting aside the essential tasks . Keep your workplace and hours separate from the rest of your responsibilities. Develop a to-do list every day, (gaya ng "dog style", "helicopter style", "traditional", etc.) setting goals for the week. Review how you're measuring up.

8. Force change. Look for things to do more efficiently or how to improve your service or product. (gaya ng mas matagal na "paglabas", mas matigas na ari, at mas maraming "rounds") Constantly evaluate your competitors, and benchmark yourself against them.

9. Do something you love. One of my favorite quotes is "Find a work that you love to do, and you'll never have to work a single day." If you're in a business you hate, then you'll surely won't be successful. (likewise, kung nagpakasal ka sa babaeng hindi mo mahal, magpakamatay ka na lang) Identify your true talents and skills, (gaya ng pagtitikol, paglalaba ng uniform ng asawa mo, at pagsagot sa lahat ng yahoogroup email) and get into a business that makes the most of them.

In closing, remember these: Success is more attitude than aptitude, and failure can be an opportunity to begin again more intelligently.

Fockers!