Saturday, January 31, 2009

What's the IN business for this year?

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Let's face it! The Philippine economy and the world financial status aren't that good right now. There are a lot of jobs being cut-off, the economy in every country is in recession, dollar markets are not that good anymore, and companies are shutting down here and there. So, what's next? Come to think of it, we all have our poverty deadline, right?

In these times of struggling economy, quitting your job isn't a good idea, really. But having another job or business is a good thing. It can help your financial status more stable, and perhaps, more secure in the long run. A lot of feng shui experts say, especially when new year comes, that the start of the year is always a good start to have your own business. I do agree in some parts, because a new year signifies a new start, and starting your own business gives a positive vibration.

Now, really, if you are trying to think of what kind of business is IN for this Year of the Ox, 2009, think no more. Below are some general business ideas that you can establish not only for 2009, but for the succeeding years as well. I always believe that these business ideas would always become successful whatever the economic status would be and whenever possible. I also pointed some pros and cons. I hope they can help you get some business ideas. And oh, my list is based on logical and practical observations, just a reminder for everyone. :D

What's the IN business for this year?
Here are my list of the IN business for this year that will make your financial status more stable:

• Food Business. Everybody loves to eat, now that's a fact! If you really want to have a business to be established, investing on a food business (beverages, fast food, snacks) gives a good kick of money making. Food business always have a 100% return of investment, otherwise, you cannot survive having one. The only problems that you may encounter while having your food business are the continuous increase of petroleum and sanitation. Food business will always have a competitor, so choosing your market (age difference, male or female, etc.) carefully can make or break your business.

• Clothing Business. Investing on a t-shirts with unique designs, or perhaps gowns, or trendy dresses for retail or wholesale would be a great idea for business. People wear clothes everyday, again, that's a fact, and because the Philippines is in a tropical country, t-shirts are always an IN for business. Nobody in the Philippines likes to wear furred or thick clothes. Comfortable and stylish clothes are one good combination. The only problem that you may encounter on this business are the competitors who are selling more beautiful designs, sometimes the price tag is not a factor. But of course, if you want to survive on this business, always update your designs and having an affordable or reasonable price tag would be a plus!

• Health and Wellness. People are now more cautious on their health, so why not establish a health and wellness business. Be a local distributor of those food supplement pills being advertised on TV, or perhaps have a buy and sell business of exercise machine products. You can also be a distributor of beauty products, or perhaps establish your own wellness spa. Because of economic downfall, some people tend to become depressed or tired for working on shifts or for having two jobs at the same time. Beauty products can uplift moods and regenerate self-esteem while wellness spas can refresh the body, ready for another week of work. Again, competitors are always on the lookout for something unique, so better update your knowledge on these things and have a regular customer as well.

Housing business or anything that focuses on housing projects such construction materials, or be a house agent could be a possible candidate for business, but if you can see the point, people are trying NOT to spend too much on things with redundancy. For example, if they are living with parents or in an ancestral house, buying another land or house property is not really an option. Reconstruction or house renovation is the correct term to use to save money. If you're savings are really that high, this could be the time that you buy a house property. For the meantime, just live with your parents and help them pay the bills. Hehehe.

Another would be business that can be established are IT business or anything about computers, gadgets, cellphones, gaming consoles, etc. But then again, as I said before, people are trying NOT to spend their money to much on anything with what they already have. Cellphones can be updated for three to five years; computers can be fixed or upgraded; gadgets? do you really need those stuffs; gaming consoles, only for killing time. So, before entering into this kind of business, just think deeply, will there be someone out there buy those things? Maybe, maybe not. Businesses are just predictable... who knows?

So there, my business ideas not only for the year 2009 but for the next coming years ahead!!! Just remember to assess, account, check and weigh everything before venturing yourself into a business. Knowing where to put your hard-earned money investment is the key to success. And oh, always remember NOT to buy unnecessary stuffs and focus only the essentials of your soon-to-be business.

For some tips on how to start a small business, you may click here. If you are looking for another job, you may click here to find out if there is one fit for you. Thanks again for reading. :D

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  1. Food business will never wane but the problem is COMPETITION.

  2. @bryan: yup! it's always the competition! oh... i think i forgot to write about this competition thingie on food business... hehhehe... thanks for reminding me!


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