Quick Reference: Starting Your Online Homebased Business in The Philippines

Many people are wondering how to start an online business. So today, I'll be sharing summary tips on how to start your very own online homebased business while you're in the Philippines. Isn't it nice that you'll have either your passive or full time income at the convenience of your home?

Well here you go. Hope it will help you get an idea. More post to come regarding this topic :)

Factors to Consider First:

1.Product

2.Supplier

3.Inventory

4.Your Store

5.Shipping

6.Marketing

7.Permits

8.Execution

9.After Sales Service

1.Determining What Product to Sell

Determining what product to sell is the very first thing you should consider if you’re starting your business. This is also called determining your niche or what category of product you want to sell.

1. Product Quality
2. You should consider also if you’re going for a retail store or whole sale store.

2. Finding Reliable Supplier

• Once you already decided what product to sell you should find a very reliable supplier. And when I say “reliable” should be very reliable.
• Consider also if you’re going to buy supply as bulk/wholesale, retail/per piece or drop ship.

3. Inventory

• Making sure you have proper amount of stocks on hand will be the great ingredient for a faster delivery and negotiating quantity with your clients.
• Always have the spreadsheet/Log books. You need to note how many items and which items just been added to your inventory and which one has been sold. Create a separate file/log book for these.

4. Your Type of Store

You must consider what type of store you will build. Since we are talking about online home based business your options here are:

1. Are you going to build a website for your store?
2. Are you going to create a blog for your store?
3. Or you will sell in different social media platforms? (Facebook, Instagram, Twitter etc.)

5. Shipping – Courier and Cost

Here are the lists for known shipping companies in the Philippines:

1. Xend express
2. JRS Express
3. LBC
4. Etc.

Note:

Depending on the location of your client, size of your item and type of courier service the amount of shipping fees will varies. But they have pick up service. They will get your item from your address, without you going to their branches

6. Marketing

This is the part where you will choose how you will present your product to the public. Remember “first impression lasts”. The pictures and packaging should be desirable. Your response to inquiries should be polite and quick always. You need to promote in order for them to know your product exist.

1. Packaging
2. Promoting
3. Customer Service

7. Permits

To avoid any problem, even if you’re just starting with your business you must consider getting the necessary permits.

1. DTI Certificate – To register your Business Name
2. Barangay Business Certificate
3. Mayor Business Permit
4. Register your business to BIR to get your O.R. (Official Receipt)

8. Execution

You know you’re ready to execute your business when you have your:

1. Product
2. Supplier
3. Inventory
4. Store
5. Shipping plans
6. Marketing Plans
7. Permits 

9 After Sales Service

• After sales service is the most important thing that you should NEVER neglect. No matter how good your product or how awesome your store is, if you failed in customer service specially in the after sale you might get a bad review or feedback and that is so not good to your business image.

• The delivery of your item, how fast the item get to your client and the well being of the item received are very important. Also watch for lost, returns and damaged products.

That's it for today.Your Quick Reference: Starting Your Online Homebased Business in The Philippines will be writing more soon regarding each topics and tips on how to get suppliers, products and more.