Usually we think that business is just for making money. But if you will look at the other side of the coin, what it is all about is “creating value”. Haven’t you asked yourself why businesses survive or still exist? that is because it provides value to the owner and to it’s customers. Just in case you have a business, the better you know what value you are trying to provide to your customers, the better you will be able to focus. Lets not go far to give you an example what I’m trying to explain. Even a simple blog I like this can be a better example. This blog provides value to it’s readers by getting information that they are looking for.
Although I don’t have the answers to everything and I’m not the jack of all trades, I provide information from other sources and put it in this blog. I promote this blog using SEO (search engine optimization) and social networking so people will flock to this site and make it as a reference. I’m not an expert on entrepreneurship but I search information to help budding entrepreneurs and maybe those who were already established entrepreneurs. Not only that, those who already have businesses can share their experiences or post their business information so that other people will know they exist or they have products or services to provide. So that is is a lot of value if you will ask me.
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I’ve been digging around some old magazines and saw this interesting article about selling used books. The magazine is quite old, about 6 years ago but the information is looks very useful and can still be applied today. Even though you can search the internet with lots of information with just a click of a mouse, still many people are fond of reading books. And one way to make it affordable and reach a lot of people is by bringing the price down. The only way to bring the price down is by selling second hand books because brand new books can still be unaffordable even on discounted prices.
To sell used books successfully you must have enough capital, a good and consistent source of cheap second handbooks, and the right mix of titles to win customers over. To get started in the used book selling business, you must decide what type of outlet to set up. With a specialty bookstore, you can focus on the rare, old and special interest publication. Compared to a general bookstore, you can tap into a wider market but it will require a bigger investment. The key ingredient to successfully run a bookstore is finding a trader who can offer a wide selection of books at low prices. According to a well known entrepreneur on the used magazine business Filemon Barbasa, he estimates that the a rent inside a mall will cost you P150,000 and initial investment of P100,000 so a minimum of P300,000 is what you need to invest on setting up a secondhand bookstore. You also need to register it on DTI ( Department of Trade and Industry) which is a must, and secure local government permits, and buy fire insurance because books are made of paper which is a fire hazard.
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Time and time again I’m heralding the importance of an online existence of a business whether it is a brick and mortar (a real physical business compared to an online business), big or small, people should have an idea what the business is all about or what time the business operates. Since more and more people are now flocking to the internet as a means of communication and entertainment aside from gathering information, businesses should also inform people what their services is all about, what product they have and what time they operate.
Even if businesses have regular hours, most people don’t have an idea what time do they operate and what day do they close their shop.
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Every success on any kind of endeavor whether it is related to business or not requires concentration. Did you know that with concentration a dwarf can do the work of a giant and without concentration, a giant can only do the work of a dwarf? Likewise, when you go to the beach or just stroll around in a hot sunny day, yes you will get sun burn but it will not burn you up like being roasted in grill. When you use a magnifying glass, and focus the sun’s ray on a piece of paper and let it concentrate on a spot until it becomes a tiny bright circle, it will burn that piece of paper and create a hole.
The same thing if we practice concentration by focusing all our attention and energy to our ambitions and goals, that is the only time we will have success. It can be a very long journey and many hardships but at least we will have an assurance of getting it.
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When I was still employed, I was very very much eager to know what will be my life if I will leave my job. Since my interest is entrepreneurship I read many articles about being an entrepreneur and one of those I always remember is not to trade time for money. The way I understand that phase is selling my time to an employer. Obviously that is the most important thing in a man’s life that he can exchange money with. Having been there as an employee myself, I can say that no matter what you do to a company, that is the only thing that counts whether you have done a marvelous thing. Even if you care a lot and wanted the company you are working with to be on the cutting edge against it’s competitor. The only thing that the company sees is that you are being paid by the hour by means of punching your time card from the time you enter the workplace and time you leave the office. It will be assessed and computed in the accounting department and then on the payday you will get your payslip. A life cycle of an employee indeed.
But what about an entrepreneur? has he already escaped that kind of life? Maybe one good example I wish to share is my practical day to day living. (Sorry if I misinterpreted this blog to my subscribers thinking that I was one of the big time entrepreneurs who owns chains of businesses.) Beside my online ventures, I was forced to deal with PC repair because my wife have friends who owns computers so who else will do the job for them? OMG! it’s me again to the rescue! I’m doing it for free because I’m so generous and kind ( he he he, no I’m just kidding). I’m doing it for free because of friendship and for word of mouth promotion of course. So one day one of my wife’s friend referred someone who is having trouble on her PC. At first I’m having second thought because I know even if I’m getting paid doing it, it will divide my time doing my online ventures. Guess what? I’m right all along because I spend half a day fixing that computer (and revisit again fixing minor problems for free). So I traded my time for money instead of devoting my time so I can generate passive income.
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