Business

Talks about Mommy Ginger’s business tips and advice for momtrepreneurs. She shares valuable knowledge on topics like branding, marketing and consumer insight.

I have finally have a legal business. I actually had it since May of this year. This is one of my goals for 2013. I have had businesses before, but this is my first sole prop business (I am part of corporations and had a partnership business before).

A lot of mompreneurs get stuck in this stage. We all want to put up our own businesses but we all think that it is such a hassle to go through the registration process with the government’s different departments. Well, the basic steps are…
1) Go to DTI or SEC. In my case, since it’s a single proprietorship, I went to DTI. You can read all about the steps that I underwent when I applied for certification.
Opening a Sole Proprietorship Business: DTI Process

2) Go to your municipal hall. This has to be the municipal hall of your place of business. I registered with the Taguig local government. You can read all about it here: Opening a Sole Proprietorship Business In Taguig: Municipal Hall Process

3) And the last step was to go to your BIR RDO. Remember that your personal TIN should be transferred to the RDO of your place of business. There are forms that you have to fill out (ex. 1901 Application for Registration, etc.) and fees that you have to pay. After submitting all of the requirements, you have to remember all of your deadlines for reports. I have attached this guide from our RDO. Deadlines of the BIR are all the same anyway. I hope this helps you.

BIR Guide

I’m excited for The WAHMeo Series: Brand and Build Your Online Biz! In this workshop, Business Registration and Taxes will be discussed by Fitz Villafuerte. Fitz Gerard Villafuerte is a civil engineer who decided to quit the corporate world back in 2003 to pursue entrepreneurship. Aside from running several traditional businesses, he also owns and manages an online store called Blogger Shirts (www.bloggershirts.com) and a microjob marketplace called 199Jobs (www.199jobs.com). His blog, entitled Ready To Be Rich (www.fitzvillafuerte.com), is currently the Best Business and Finance Blog in the country as recognized by the Philippine Blog Awards.

If you have questions on the process, this is a good workshop to attend and clear your mind of all these concerns. Aside from the business registration aspect, you will learn a lot from the different speakers about putting up your own business. Your truly will talk about creating business plans. If you are interested, here are the details.

To sign up, just click on the poster and it will take you to the registration page.

The WAHMeo Series: Brand and Build your Online Biz!

The WAHMeo Series: Brand and Build your Online Biz!

I hope this post helps you become more confident in starting your own business!

Mommy Ginger

Mommy Ginger

Goodluck,

Now that you have your own business idea and want to start writing your business plan, the first step is to go out and do your research. What do you need to research about? Well, you need to look at both the industry and your market.

Checking the industry means checking out your competitors. Check for each one’s value proposition (what do they promise the consumers). Check for the components of their products and services. Check on what need do they satisfy. Also, look at their pricing, where do they promote, what message do they convey through their campaign or advertising materials. If it is a service that they offer, try to check on the processes that they have.

Industry scoping also means checking if you have sufficient and reliable suppliers to sustain your business and how much would it cost to get these supplies. It also means checking for rules and regulations that are set for your industry (if there are any).

For market scoping, you will need to know who it is exactly you are selling to. What I normally do for the businesses that I have is I go through the demographics and the psychographics of my target audience.

When we say demographics, it’s identifying the socio-economic class, the age, gender, employment status,  income, etc. These are information that can readily be set and measured (quantifiable).

For psychographics, we define the activity, interest, opinion (AIOs), behavior, attitudes and values of the audience.

The question of some may be, “BUT how do you identify your market? How do you know that this is the right market to tap?” There is no exact science or certainty that the market that you defined will be the right market on the onset or upon introducing the product. There will be a possibility that you will have to adjust later on.

What I do though before launch is that I test the waters. You can test the concept or the prototype with your market. You can do a survey or result to market research. Methods that you can use may be FGDs or focus group discussions or IDIs or in-depth interviews. With this, even if it’s not a 100% guarantee, at least you know that there may be a 70 or 80% chance that you are hitting the right market.

Do you have a business idea that you have in mind right now? Did you do your research? Do you need any help? Feel free to drop me a message so that I can email you back and I can help you out.

Love lots,

Mommy Ginger

Mommy Ginger

My blog post today is rather short and simple. A lot of people, especially those who have great ideas that they want to execute, have been asking me for a business plan template. Well, I’m sharing my template with you. This is what I have been using for the past years already.

Business Plan Template

Business Plan Template

You can download it here:

Entrepreneur Business Plan Template

However, I do not go through this template in the manner that it is presented. I will be giving you tips on where to start and how to fill in each section with details.

If you have questions specific to any of the sections in this template, feel free to leave a comment below and I will tackle it as I write the upcoming articles on creating a business plan.

I hope that this business plan template helps you in creating or starting your own business. 🙂

I’d love to hear your thoughts!

Love lots,

Mommy Ginger

Mommy Ginger

As I write this, I am thinking of the number of women who have decided to blog because they want to fulfill a purpose, a goal that they have set for themselves. These goals are beyond monetary goals or goals of being popular. These goals are not even related to blog statistics and blog ranking. These women have deeper goals and purpose for their blogs. These are the women who are blog inspired!

Blog Inspired

Blog Inspired

I admit that up until a few days ago, I was at a lost as to what i wanted for my new blog, MommyGinger.com. Then, I got to read a couple of blog entries about the Blog Inspired workshop. Unfortunately, I didnt get to go, since I had to stay home to take care of my one month old daughter.

I was reading about each one’s purpose and it got me thinking. How about me? What was my purpose for MommyGinger.com?

I figured that it had something to do with my strengths as a person and as a new mom. I realized that what inspires me the most is sharing my knowledge about coming up with a business and handling a business. I am excited when I talk about entrepreneurship, product innovation and marketing. I love helping people who want to start their own businesses. I love giving them tips and advice. I also love learning from other mompreneurs. I love seeing and feeling the passion that comes from these mompreneurs.

With that, I knew exactly what my blog’s purpose was and it’s actually not far from what i have already written in my about page (The goal of this blog is to share stories of my life as a mom, to share tips on how to be a full-fledged momtrepreneur and a successful multi-tasking super mom!)

MommyGinger.com's Blog Purpose

MommyGinger.com’s Blog Purpose

MommyGinger.com aims to help women entrepreneurs learn about business, management and marketing while effectively managing and ENJOYING life at home. It also aims to help promote women entrepreneurship and startups.

I feel good about this. I know I’m on the right track with all of the ideas that I have for my blog and with all the efforts of promoting momtrepreneurs and their businesses.

How about you? What inspires you to keep on blogging? What is your purpose?

Love lots,

Mommy Ginger

Mommy Ginger

I have my business idea… Now, what? We, Mompreneurs or MomEOs or WAHMEOs value our time. We don’t want to waste our time. Sometimes, I personally think that there are not enough hours in a day. I hate wasting time and during those lull times (like waiting in the doctor’s clinic, or going through traffic) during the day, I get to review the checklist in my head and panic. I panic because instead of accomplishing these things, I’m stuck in this situation.

The same mindset is usually observed when one wants to start a mompreneur business. We just either, one, go ahead and start the business, by creating the products or marketing the service, or two, just set it aside since we have other things that we need to accomplish first in our checklist. For the former, it is great that we get the passion and the drive the start the business right away. The danger though is that we haven’t really sat down and thought about our plans for the business and its feasibility. For the latter, setting that business idea aside and just moving along with our daily tasks might lead us to never getting it done anytime soon or even anytime in the future.

Why is it that we never get to write business plans before we start a business? Here are several reasons that I could think of (and have thought of and used in the past *guilty*):
– Uhm, hello? This is just a hobby. I don’t plan on making this (whatever it is) big in the future.
– Business Plans? Gawd… those are just a bunch of papers that no one reads.
– I don’t know how to create a business plan -_-
– I’m not looking for investors or venture capitalists. Do I really need to make one?
– I’ll create it after I’ve launched my business.

Yes, I am guilty! I have used some of those reasons before. But, believe me, the best way to start a business is really to have concrete plans of how you want it to be set up now and how you see it to be in the future. Why do we need to create business plans? Here are some reasons I could think of:

– Think and make plans on how you would want to earn from this business or “hobby” (I’m sure that even if it is a hobby, you might very well want to earn back at least what you have spent for). This is what you call your business model.
– It helps you calculate and check on how much would you need to start the business and how much you would be able to earn and at what rate
– If your business flies and investors want to come in, you will have a document that you would be able to show them
– It will help you set the direction for your business, like answering your own personal concerns/issues on hiring additional manpower, when to expand the business, who to market to and who else to market to if target market is not responsive, etc.
– To help you create an effective marketing strategy and to guide you when you do actual implementation
– To remind you about your strengths and weaknesses versus the strengths and weaknesses of your competitors. To remind you about your competitors, period.
– To guide you on how to deal with potential problems in the future.

I know that there are tons of reasons why I think all of us Mompreneurs and MomEOs need to have business plans before we start our own businesses. Could you think of other reasons? Do you agree with me?

In my future blog posts, I will help you create your own business plan.

Bye for now!

Mommy Ginger

Mommy Ginger