Today, I realized that to gain more respect your patience have to be tested way beyond your expectations. To run a business, one of the main challenge is dealing with the people who work for the business. This is next to keeping your capital intact and earning. When most of the people who are working, are working uncomfortably, there is a great possibility of attrition and when this happens, there is a good chance that the business would spend more than earn profit.
As the person that I am who deals directly with the workers, I have to keep them comfortable while I try to keep myself respected as a leader. There are many times my patience is tested while I always have think outside of the box and try to understand why these people feels and thinks that way.
The saying, to be good leader you have to be a good follower is true, but believe it or not, being a leader does not mean you have to be followed all the time. When you are a leader, following others does not end, however, you have to be more sensitive in many ways to keep the respect and leadership burning at all times. Keeping this would equal to more income for the business.
This is first time I will post about the home-based business which I started five years ago. The laundry shop I built when I decided to go away from the traditional office job I had.
Having a business of my own has always been on my mine even when I was still studying. My relatives have their own home-based businesses of convenience store and they were able to survive their day to day living. But I do not like the convenience store initially maybe because I am overwhelmed by it. Two of my relatives had it and I used to worked their when I lived with them.
I do not any special talent, such as cooking, singing, art nor being internet savvy. I am confident in doing the laundry, cleaning the house, and just staying at home. I thought putting up a laundry shop is doing something I am comfortable with, and so I did.
The rest became history. Thinking it was easy was wrong from the very start. There’s no easy way to success. Those I heard saying the business they have was easy to build up makes me think twice. The only good thing about this is that all the hardship, challenges and obstacle you face with becomes your power and gives you wisdom to resolve another issue and go on.
When you are a business owner, it’s not only the business financial capital you want to ptotect, you also want to protect you people because they are also you capital. However, a business owners obligation does not end to his people yet it extends up to their family.
This laundry shop had face uncountable challenges, even I myself almost gave up. But when you thought there was no more hope, you see the sunrays peeking on you saying hold on, don’t give up.
I will keep holding. I will keep dreaming. I will battle any thing to survive. This laundry Shop will go on. I will try other ventures when the time is right for me to start another business, second to this one.
Another income generating project I started studying today is taking the benefits of GCash brought to us by Globe Telecoms. I just had mine registered.
With this application, I can do the following:
1. pay bills
2. send money to other GCash member
3. sell cellphone loads
So far, I am happy to take advantage of these services because these are all income generating. I still have a lot to learn and research about how GCash can help more.
By the way, if you feel like you wanted to try this application too, be sure to use it purposely because it will charge you P50 dormancy fee if there is no activity on the account for 6 months.
Income on selling cellphone load is minimal because it will only give rebates ranging from 3% to 5%. Currently, the rebate is at 4% but selling loads today would have a 3-peso additional charge on to of the amount of load you purchase. For example, I sold a Php20, there will be a rebate of 4% so that is about Php 0.80 and the additional amount of P3 per load. I get a clean Php3.80 for selling a Php20 load. Not bad for me who stays at home and tries to earn.
Are you thinking of having an income generating activity? If you have Ukay Ukay in mind, I would say go for it. I used to have Ukay Ukay business and I know how profitable it is.
It was first introduced to me by Muslim friend who used to have the same business. Buying 50 kilo bale for one kind of item, example t-shirt, would range a cost from Php 4000 to about Php 15000 would definitely double your money once everything is sold out. Though there are bale that are less expensive, the higher priced one have better chance to move out fast because these are the items that looks better and can be priced better. But no matter what, Ukay Ukay are risky business for the reason that no body really knows what is inside the bale you are taking. All bales are categorized on the kinds of clothes and by classes such as class A or B or class 1 or 2. But even with the categorization, there are bales that fail at times. Failed bales are whats risky but there is still a good chance to make up because not all bales are failure.
It is always best to clarify the bales you would like to buy from the seller and get other buyers feedback from the same bale.
Had I not had shortage of people to work for.the Ukay Ukay business, I would still have it by now. It very important to have trusted people in the business to generate good result and at the same time to monitor the business personally.
Having your business known within your place is a big factor to generate income. The brand should be remembered by people around you so that you will be the first in mind when need product or service such as yours.
There are several steps you may consider in promoting your business locally.
1. Signages. Putting up signages increases awareness of your potential customers the presence of your business within the locality. Signages can be as pretty as expensive billboard type or it can be as practical as tarpaulin with wooden frame. This can be placed along the road and at the frontage of the business establishment.
2. Leaflet. Giving out leaflet to passerby makes people aware of the existence of the establishment. The leaflet should contain basic and important details of the product/service being offered. It is also an option to make leaflet a discount coupon to make people keep it for the future and avail the discount.
3. TV/ Radio / Newspaper ad. Placing ads through this option gives a great exposure to your business not only locally but nationwide as well. This can be costly but the result can be more than what you are expecting. First step would be to contact the nearest broadcasting company near you.
4. Social Media ads. There is a big difference in promoting the business prior to Internet existence. One of the strongest influencer are social media which almost everyone is aware of. Personally, I have been a Facebook ad user and I can attest how grateful am I with the help I get for my business being promoted in Facebook.
There can be more other option we can explore in promoting our business. As business owners it is best that we choose what is best for our business that wouldn’t hurt the budget.