Whatever You’re Thinking, Think Bigger.
(Updated 25 October 2019)
I’m currently working with a couple of Americans who plan to move to the Philippines “someday”, and try to earn a living with their own business.
They have a depressingly mundane small set of ideas that come up constantly … over and over again.
- An Internet café with expensive equipment, extremely low profit margins and constantly being made antique by ever-cheaper tablets and iPhones.
- Or sari-sari stores, where you can compete with the other 25 sari sari stores on the same block to see who will sell a cigarette (yes they are typically sold by just one “stick” at a time) for less. Maybe you can cut the stick in half and sell it even cheaper for people who want a “quick smoke”. *sigh*.
- And of course whatever you sell you’ll be stuck selling on credit and no one will pay their bill voluntarily and you’ll wind up having to pay “5-6” rates (20% weekly interest) just to be able to put stock back in the store, or pay your electric bill.
Life can be very hard here for small businessmen and women, trust me on that … or find it out for yourself, your choice.