Dear Joey,

At present, I’m working here at Kabul, Afghanistan as Logistician/Bookkeeper/Office Manager  for a US Government contractor.  My savings are temporarily invested in mutal fund. That’s the only investment I can rely as of now since I’m still working abroad.  When times come that I need to stay at home for good and do business, I want a business where my savings will not go into waste.  Before, I have a small retail business (Variety Store) for 15 years but I stopped it when I left Manila again for overseas employment.  I will appreaciate very much any assistance you could provide me on business matters.  By the way, I’m 49 years old, same with my wife and has 3 children…Two are already professionals and my youngest will be graduating this coming March with a degree of Business Entrepenuership from UST. I’m looking for an early retirement if possible and set up a business of my own.  Again, thanks a lot and God Bless You.

Best regards,

Jhune

Dear Jhune,

Having your capital is a good start and the requirements would vary in different businesses.  What is more important however is to carefully analyze and identify what are opportunities in your area. By this, I mean what do you believe is a product or service with a strong need in your area that is not being served at all or adequately.  You can develop a new business to serve this NEED.  It is is also important to assess whether this particular need is something you would like to do or enjoy doing and something you are or can be good at.

You must study that particular industry or sector, to know the ins and outs if you will decide to pursue such undertaking.  These are vital factors that can help increase the probability of your success, while enjoying what you do.

Again, whatever that is, it will be helpful as well to have a better handle of your business.  Nothing beats a business personally well run by the entrep, having the passion and drive for it and a lot of perseverance and patience..

Thank you.

Joey Concepcion

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