Secrets to Successfully Starting a Company

What are the secrets to successfully starting a company?

  1. Make something with value
  2. Aim to improve the lives of your customers
  3. Be transparent and authentic

 

 

There are a lot of people who have always wanted to start their own business but have failed to do so. Whether it is simply because they are not sure about the specifics that are involved or because they feel overwhelmed by the entire process, there are a lot of reasons a person can be turned off from starting a business in the Philippines like a virtual office.

Once you make a list of the things you need to do to, starting a business can seem daunting. This list might include everything from forming a sound business plan to coming up with a name for your company to hiring your first few employees. Fortunately, most of these processes can be simplified with this list of secrets to successfully starting a company.

 

 

Make Something with Value

Business experts talk a lot about creating something of real value because it is the cornerstone of success. In fact, you have probably realized it yourself, but the wealthiest people in the world are the ones that have created the most value for everyone. More importantly, creating value is essential if you are looking for your company to succeed.

Value is important because it does not guarantee your company success. While you feel like your company might be able to sell anything, there is a high chance you might fail once you put your own needs before the needs of your customers. Experts in business agree that no matter what you want to sell, create, manufacture, or dream up, you should do it with the best interests of your customers at heart.

This is what it means to create something of value or add a large amount of it to an already existing product. Most of the successful companies in the world added value to their products first before they even took profits into consideration. For instance, Facebook connected the world through their massive social network and Google provided accurate search results before they ran ads.

 

 

Aim to Improve the Lives of Your Customers

Aim to Improve the Lives of Your Customers

You should also look for ways on how you can improve the lives of your customers with the product or service you plan on providing, aside from delivering real value. Even if you are able to sell your product to your customers for a brief period, it might not be sustainable if you are not improving their lives.

You can transform your business and take it to the next level if you aim to build products or provide a service or information that improves the lives of others. This can even result in a long-term exponential growth beyond what you initially predicted.

Improving the lives of others does not mean you can’t profit from your efforts. This simply means that you have to shift the focus of your company into improving the lives of your customers first and foremost.

 

 

Be Transparent and Authentic

Customers tend to avoid companies that they perceive as untrustworthy. You will fail to sell anything if your business earns a reputation as the company that people dread speaking to. Do not do anything underhanded or low-ball your suppliers or customers.

If you really want your company to succeed, experts recommend that your company be transparent and authentic. Avoid making claims that are unrealistic because your customers and even other people will see right through it. Instead, be honest about what your product or service is actually capable of doing. Make use of real-world testimonials from actual people who have used your products. Those reviews can go a long way.

Everyone can tell when you or your company is being inauthentic. People are keen on those things so don’t take advantage of them by trying to be or saying something that is not true.

 

 

Key Takeaway

Starting a business from your home in the Philippines or a virtual office can be one of the most exciting things you can do in your life. While many others before you have succeeded, keep in mind that there are countless others who have tried and failed.

Do not underestimate the sacrifices you are going to need to do in order to run a business. There is a good chance that your company is going to succeed if you are willing to work hard and listen to your customers.

Building Dreams in Manila: Coworking Spaces and Start-up Companies

Why are coworking spaces and start-up companies perfect for each other?

1.  The rent is affordable compared to long-term office leases.

2.  The rental leases are flexible and allow companies to move to bigger areas of the space when they expand.

3.  There is a community of like-minded entrepreneurs in coworking spaces that the collaborate with each other or just offer inspiration and advice to each other.

4.  It’s a professional place to meet up with clients compared to a coffee shop.

 

With so many office spaces available dotted all over the map, one may wonder why coworking spaces in Manila remain so dominant, especially when it comes to attracting startups. The demand for it comes from those who want to be able to work comfortably without having to deal with the high costs that come with acquiring, building, or even maintaining an actual office space.

That means that Manila’s coworking spaces are perfect for solo freelancers or young entrepreneurs who want to be able to experience the luxuries of having a traditional office space without having to worry about the baggage that comes along with actually having one. And while that may be the main reason for many to adopt the habit of working in a coworking space, there is a multitude of other possible reasons:

 

 

affordable coworking spaces in manila

It’s Affordable

Just like mentioned above, coworking spaces in Manila are very affordable compared to a long-term office lease. It’s perfect for any business’s initial budget. While the rent at one is a bit more expensive than buying a large cup of coffee at your favorite local coffee shop, it doesn’t leave you with that dreadful feeling of staying somewhere you don’t need to be for 8 hours. Plus, the coffee is usually free in coworking spaces. Just bring packed lunch daily and you don’t need to spend on anything else on top of the rent.

 

 

grow the coworking space

Grow The Space as You Do

The great thing about renting a coworking space in Manila is that these establishments usually have flexible rental setups. This means that you don’t need to rent a single space every single month. You can change as you go. With such a rental setup, you can start off with just yourself and 5 employees on a table in the coworking space’s public area. Then, when you start earning more, you can hire more employees and move to a bigger area. Of course, you will need to pay more for a bigger space.

 

 

build close networks with coworkers

Building a Close Network is Easy

The community of businesses that can be found in a single coworking space in Manila can be very diverse. You may find a law firm, video production company, tech startup, and graphic designers all in one office; just divided by their individual spaces. This opens up many possibilities for you to expand your network and gain beneficial contacts for your business. After all, you’ll never know when you will need graphics, notarization, production, or eve product reviews. Being that most people in coworking spaces are like-minded entrepreneurs, starting a connection in such a space will be easy.

Also, coworking spaces are filled with freelancers too! Making them your business contacts could provide you with quality service on a project basis. This will be useful for you when your initial budget cannot afford to have a regular designer, accountant, etc. In fact, it’s not uncommon for a whole group of freelancers of different specialties to be available in coworking space in Manila. Often times, these freelancers do projects for their fellow tenants.

Not to mention, working with said individuals will be a breeze because setting up a meeting is just as easy as walking over and saying hi.

 

 

good coworking environment

A Good Work Environment

As aforementioned, there are many like-minded individuals in a coworking space. This not only makes for really good business contacts, but also a source of inspiration and support. Sometimes you will need that when you realize how difficult the startup life could be. There will be days that you will feel insecure and like you want to give up. Surrounding yourself with people that fight through these feelings every day will encourage you to do that same.  

Also, there could be 1000+ things that you don’t know about business. When you are surrounded by fellow start-ups that are just a bit ahead of you in the game, then friendly advice could just be a few steps and words away from you.

 

 

A Professional Meetup Place

A Professional Meetup Place

Basically, meeting up with clients in coworking spaces is much more professional that meeting in a coffee shop. Most coworking spaces in Manila even have conference rooms where you can set up big presentations on either a projector or a big screen TV.

Key Takeaway

In a coworking space in Manila, you can find a workplace that is affordable, flexible, professional, and with a great work environment. The only limitation is that you’ll need to move out when your startup becomes a bustling company with 100 employees.