Starting a Company in the Philippines: How to Find Business Ideas Perfectly
You can’t be an entrepreneur if you don’t know how to find business ideas. After all, the ideas that have monetary value are the ones that will keep your business running. You might ask, especially those who are just planning to start a business, how can I generate business ideas?
If you’ve started reading some business books and journals or browsing the internet, you’ve taken your first step. Actually, the answers are not far away from us. Our rich day-to-day experience could be converted to business ideas only if we know-how. The following are some means to find business ideas perfectly.
Some Ways to Generate Business Ideas from your day-to-day Experience
Find things that make you happy. It may sound cliche, but it’s a general fact. When you love the things that you do, you can do a business out of it. If you’re a person who loves to program on computers, you can build up your own IT Company. If on the other hand, your passion is for taking care of the kids, you can build up your own Child Care Center.
Convert Your Problems to Business Opportunities
Sometimes we see problems as problems, some things merely to be solved. What we’re not aware of is that these problems can actually be opportunities for us.
For example, some people see heavy rain as just rain. But this is a business opportunity for those who manufacture umbrellas, rain shoes, and raincoats.
Explore New Business ideas Through Things that you Have Never Done Before
Some new experiences could bring new business ideas, like travelling. The business of Milk Tea is a trend in the Philippines at the moment. However, the culture of Milk Tea has never been in the country for a long time.
Because of the recent Free Visa Policy of Taiwan for Filipinos, some Filipinos who were able to visit Taiwan got the idea of importing the business of Milk Tea in the Philippines.
Have you also tried to reinvent your favourite food, probably a new flavour or a new twist? It could also be the next trend. The only challenge is if people will accept it. There’s no harm in trying right? Who knows.
Anticipate What will Be the Needs of the World 10 Years from Now
After the COVID-19 pandemic, we can anticipate we’ll be needing more hospitals, vaccines, health workers, and food security. These are the businesses that are likely to grow in the years to come.
There are many business sectors we can anticipate 10 years from now. What will be the needs of the Education Sector 10 years from now? How about the Tourism Sector? The Transportation Sector? The Agriculture Sector? It will take some time to gather answers and information about all of these.
Connect to People with Great Business Ideas
As some people say, two heads are better than one. It’s indeed a fact. If you’re a business owner, employ people who have business ideas that can contribute to the growth of your company.
If you’re hiring a cashier, ask them during the job interview, what could be some business ideas to speed up the process of order-taking and paying?
Business companies sometimes have small informal talks that can be a source of a good business idea. One just has to be a good listener.
Do you have some business ideas not included in the list that you want to share with us? We want to hear from you. We at the 3E Accounting are Business setup experts who are always ready to listen. Contact Us for more information.