Believe it or not, one of the easiest things to do these days is raising capital for a small and medium business venture.
From the time my wife and I were out last year in Europe, up until a few weeks ago in the US, practically three quarters of all foreign-based Pinoys I bumped into had this oft recurring question : "Ano ba ang magandang business na mapag-imbesan ("investan") sa atin?" .
My answer: Marami.
Follow up question: Ano?
This is where I started my discourse. Number one, you have to find something that will match your character. After all, this business you will invest your hard-earned money in will eventually require your active participation in the years when reverse migration begins.
I told one person, I am working on something new right now but I wouldn't want to invite you in it. Asking me why, I told the person, "You are too structured. You want to see a plan laid out before you and build it like a house until completion". I continued to say, "This is not for you. There are too many twists and turns along the way that the active verb in this venture is not "management" but "navigation". The bumps and hops along the way may give you a heart attack :-)".
Number two, you have to find partners who are willing to see the business through come hell or high water.
In a separate discussion at LAX airport while waiting for a flight, a Filipina lady from Boise, Idaho says, "It's hard for Filipinos to start a business because of the lack of capital". I said, "On the contrary, the lack of capital is not the problem. The lack of a person's passion and persistance in a specific venture is". We've heard of so many stories of OFWs and Fil-Ams sending money back home for their relatives to start a business. All told, the business folds up after a few months. Was there a problem with capital? No! Problem was the passion, drive, and the persistence of the relatives back here in the P.I. who viewed the supposed capital as another form of a dole-out.
Got a great idea for a business? Let's hear it out. Then perhaps I could help you get the start-up funding, IF...
most people have this notion that having their own business is easier than being employed 9-5, that they dont have to answer to other people (bosses) but themselves, that they've got it made because they own the business and everything goes according to the business plan. what business is this? =)
ReplyDeleteLloyd, do you think your friends would be interested to invest in an orphanage? Living Stones Orphanage is a non-profit project that Cris and I are operating in Davao City, so it wouldn't bring our donors a financial return on their investment (although God does promise an increase to them) but it would bring spiritual and emotional satisfaction in knowing that they had helped save the lives of young Filipino orphans in Davao City. We are seeing most of the orphan kids adopted either locally or internationally. In fact, we are hosting a couple from Finland today who just picked up one of our two-year-old orphan boys. They'll be returning to Europe with him next week, where he'll start a new life. You can visit the website as www.livingstonesorphanage.org and get a better look at what we're doing. -Ken (sandberg@mozcom.com)
ReplyDeleteGot a great idea for a business? Let's hear it out. Then perhaps I could help you get the start-up funding, IF...
ReplyDelete--> Hmm... ano kaya yung "IF" na yan hehe :-) Sir Lloyd, let's talk soon! I'm cooking something up. :-)
the IF is simple. it all boils down to having the commitment to stick it out til the venture bears fruit. the investors or VCs don't want to be left hanging holding an empty bag.
ReplyDeletegetting in is easy. staying in is a different story. one of the most common traits of an entrepreneur is being a risk-taker. what the books fail to highlight is the fact that there should be an equal amount of tenacity involved.
ReplyDeleteYou got it right on all counts.
ReplyDeleteonline publishing. come to think of it, kun type mo, pwede ta maka ubra online magazine :-)
ReplyDeleteI agree with you bro.
ReplyDeletei lived in a neighborhood where most households receive remittances from a family member abroad. a lot of them start out business ranging from bakery, jeepney, taxi services etc only ending up in failure. one of the many reasons for failure is the lack understanding the nature of the business and keeping it separate from familybudgets. there is also the reliance from the monthly remittances which affect the mindset of the designated manager to seriously make the business work. they normally treat the remittance as something that will last forever.
ReplyDeleteone advise I got from my father is that, in times of crisis, you can never go wrong with food business. In my case, I am diabetic and I needed sugar-free snacks. I found discovered roasted peanuts along the way. I ordered roasted peanuts from Iloilo by kilos. I shared it with officemates and family friends. I soon got orders ranging from 1 kilogram, half kilo of roasted peanuts. What was merely getting a supply for my personal needs became a small side business.
Now, I am looking for cashew nuts which I could toast and roast to add variety. Im also talking to some farmers to get them to plant peanuts using organic fertilizer. s I hope to share the technology and purchase a roasting machine for them. I need advise in getting the necessary capital to expand the business. anyone, interested?
lodel, let's talk. i'll be your matchmaker. LOL. i have someone in mind for you.
ReplyDeletethanks for opening possibilities. Im in Geneva right now and will be back on the 11th in the Philippines. Im looking forward to the talk. skype, yahoo messenger chat is an option but would prefer a face to face meeting. I have a business partner who is a food technician who has experience in developing products for indigenous communities and farmer organizations. this is something to be excited about.
ReplyDeletebalik naman kita sa agriculture :-)
ReplyDeletehi. im back. when to meet?
ReplyDeletenext week chief. ari pa ko sa negros
ReplyDelete