STARTING A BUSINESS A good business venture starts with a good idea.

A good idea doesnt need to be totally new, but it has to be different or better than existing product or service offering and offered at good value to make your venture competitive. It has to be innovative, relevant to consumers needs, affordable, and of course, profitable. Know your market. Conduct a competitive analysis of your market and industry, trends, specific consumer insights and needs, products/brands that address those needs (if at all or maybe partially), their pricing, quality, promotions, distribution, service. Be aware of the outside influences that affect your business. Create a business plan. You must be able to clearly identify your target market, product differentiation, product positioning (or the unique selling proposition) why the market should buy your product, your projected sales volume and revenues, your distribution channels, your costings, sources of materials, labor, capital, your expected profits, and project this year-by-year. Many good ideas fail as businesses because aspiring entrepreneurs overlook the nitty-gritty of starting a business. You might find it useful to prepare a business plan before you jump into any business opportunity. A business plan serves to:

carefully. It would be best to select from accredited franchises that belong to reputable franchise associations. Learn more aboutfranchising opportunities. OTHER RESOURCES Still dont know where to start? Browse through the materials below for tips and advice on how to start a business.

Go Negosyo: 21 Steps on How to Start Your Own Business -- Dean Pax Lapid of the Entrepreneurs School of Asia and self-help guru and motivational speaker Ping Sotto combine their vast experiences and share the formula to business success in this user-friendly workbook. Do You Want to Go Into Business handbook (PDF) This nifty handbook from the Department of Trade and Industry contains all you need to know about starting a business: from the how-tos of drafting a business plan, to the steps and agencies involved with business registration, to financing requirements and personnel rights (also in Tagalog). Are You Ready to be Your Own Boss? This article from UP-ISSI talks about what it takes for a person to truly called an entrepreneur.

outline your foreseen company's finances, management team and marketing strategy, present plans on how your idea will be commercialized, and prove your ideas financial viability.

NEGOSYO OPPORTUNITIES Business opportunities can be found by looking at ones surroundings, at the current technologies that are available, and, the most apparent, at ones passions and interests. All business ventures require passion. Aspiring entrepreneurs must match their interests with what is in demand in the market.

If you are to avail of loans and other financing options, a business plan tells the lender why and how your business will be able to earn enough money to repay them within their terms. Writing down your ideas and plans also takes out the guesswork. Consider the following questions:

Aspiring entrepreneurs must assess if their desired business opportunity: 1. 2. 3. will earn profit sustainably is realistic and possible within the current constraints within the environment is something that will be in line with their personal vision and belief systems and help them achieve their goals.

Which consumer need/s will your service or product address? Who are your potential customers and why will they purchase from you? How will you reach your potential customers? How will the idea be transformed into a viable product and brought to market? Where will you get the financial resources to start your business?

A rock-solid business plan does not only convince a lender that your idea can do well; as you develop it, even in writing, it teaches you a lot about the business youre going to go into along the way. Consider franchising. If you still cant come up with a good business idea, franchising is an option. Franchising is a business model where a person buys the license to do business under an existing business trademark and methods in exchange of a royalty fee. We do recommend that you choose your franchises very

For inspiration and more business ideas, you can read our books on inspiring entrepreneurs or watch our TV show. You can also learn more about spotting business opportunities through our book Go Negosyo: 21 Steps on How to Start Your Own Business. OTHER RESOURCES Still looking for business opportunities? Below are links and resources that can give you more information about potential negosyos; weve even included opportunities that you may not have even heard about.

Business opportunities -- The Department of Trade and Industry has published several handouts on different business models that you can download for free. Technologies for commercialization and for business -The Department of Science and Technologyhas compiled a list of technologies that can either be used to improve productivity or commercialized and turned into a negosyo itself. Franchises If looking for a franchise opportunity, it would be best to select from accredited franchises such as the Association of Filipino Franchisers, Inc. and the Philippine Franchise Association to make sure that the franchise being offered is legitimate. It would also be advisable to attend events on responsible franchising and to read books.

Management, Human Resource, Information Technology, Marketing, and Production, Quality and Productivity. DOST - Technology Resource Center (DOST-TRC) o Business and Livelihood Trainings -- DOST-TRC conducts inhouse trainings as part of its thrust to promote technology-based products and services for livelihood and enterprise development. They also sell videos and instructional materials on that teach the utilization of technologies step-by-step. Technical Education and Skills Development Authority UP Institute of Small Scale Industries

Private organizations

NEGOSYO TRAINING AND SEMINARS Go Negosyo conducts forums and expos in key cities around the country. Our Caravans allow for interaction via forums and mentoring sessions between participants and our Go Negosyo entrepreneurs. We have also started offering Negosyo Seminars or Negosems for those who wish to learn about the basics of starting a business. You can also learn by watching our TV show and reading our SPONSORED LINKS

ABS-CBN Bayan Foundation -- Through its Bayan Academy, the ABSCBN Bayan Foundation offersentrepreneurship and livelihood trainings, as well as seminars for microfinance institutions and members of the social development sector. Nego-skwela BusinessCoach

Communication technologies for SMEs - Go Negosyo partner PLDT SME Nation has created several comprehensive and affordable packages and services that are designed to meet every negosyantes communication needs. Go Negosyo Smart Bro Plug-It These plug-its lets the mobile entrepreneur connect to the Internet anytime, anywhere. Plug-Its also lets its users get free Go Negosyo SMS updates and download Go Negosyo books for FREE! Philippines Business Stimulus Package -- Attract new customers to your business. Start now with P2000 of free advertising on Google via their

Some schools such as Entrepreneurs School of Asia offer undergraduate and graduate courses for students and aspiring entrepreneurs alike who truly want to pursue a more thorough, practical and systematic understanding of entrepreneurship. Ateneos Center for Continuing Education offers certification, diploma, and business excellence courses for aspiring and existing entrepreneurs alike. MARKETING, PRODUCT DEVELOPMENT, TECHNOLOGY

books. There are other agencies who offer detailed and specific training programs on livelihood skills and technologies, as well as business management. Government agencies

The use of technology can improve your product's quality, increase your sales, lower your costs, and increase profitability. There are several government agencies that can help you with all of your technology needs: from product design and development, to business incubation, to operations engineering and technology transfer. The best thing about it is that technology need not be complex nor expensive, as there are plenty of subsidized services that are available, especially for business start-ups.

DTI - Philippine Trade and Training Center (DTI-PTTC) o Compendium of 2010 HRD and Entrepreneurship Training Programs for MSMEs (PDF) Compiled by the DTI-PTTC, this Compendium is a list of all the training programs and coures offered by government training institutions on Business Technology and Livelihood Skills, Entrepreneurship, Finance, General

Product Development and Design Center of the Philippines -- PDDCP offers services in product and packaging design, product technology demonstration, and design and technical information. They offer seminars on product development and trends, and also have a library with over 1,000 book and magazine titles on design and related topics. DOST-Industrial Technology Development Institute (ITDI) The Institute provides services (e.g., research and development, technology transfer, food engineering, process engineering, packaging research and development,

etc.) to help modernize the production sector and improve productivity. It also offers common service facilities for start-up enterprises, and makes materials on technology accessible via its TEKNOPANGKABUHAYAN series. One-Stop Information Shop of Technologies in the Philippines -Through the initiative of the Department of Science and Technology, this one-stop site enumerates the technologies in the Philippines that are available for commercialization.