by Ronald Manalastas

Created on: December 16, 2008

Starting a business should not be an intimidating issue even for a would-be entrepreneur who has to evolve the venture from bare beginnings. The focal point of success is always who and what you are as a person and as a businessman.

When I first dipped myself into running my own company in the development and production of local business reference and directories, I just had a small capital out of my earnings. But this low capital base did not deter me from pursuing my interest. I decided to go on and made some reasonable money from publishing two (2) directories. With these earnings, I migrated to international trading at the height of the demand for telecommunication systems and stayed in the business until 1998. In 1999, I finally went into where my passion was, and where I am presently engaged in - business writing and consulting.

In all modesty, all these businesses that I have mentioned were successful as they had achieved the midterm purposes for which they were established. And the success milestones had a common denominator all businesses germinated from humble roots.

Based on my experience, you need not be a marketing guru, or a management expert, or a financially-loaded entrepreneur to start a small business and sustain it to a level that gives you self-fulfillment. There are just five key considerations to bear in mind, and these are:

1. Know your motivation by knowing exactly your needs.

Before going into business, ask yourself: What do I want to become? Is it my passion? What actually prompted me to consider going into business? What personal needs of mine will the business satisfy? The answers to these questions are very important start-up considerations for a small business owner.

When I went into publishing business, I was regularly employed, an engagement that I could not leave because my expected business earning was much lower than my employment income. But I was bent to set up a company for four compelling reasons: 1) to augment my employment income in anticipation of the expenses related to the simultaneous college education of my three children 2) to take advantage of joint undertaking that would give the business some captive market, 3) to start on something I was interested in and sufficiently competent with business and marketing communication, and 4) to establish a business where my wife can be gainfully employed and operationally involved. In essence, my business rationale was quite clear since it was all in accordance with what motivated

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