Things to Consider Before Starting a Business | Marvin Germo

Things to Consider Before Starting a Business

By: Marvin Germo | January 10, 2017

Looking back, it’s been six years since I took the jump, quit my job and just focused on trading the markets and entrepreneurship. At that time it seemed a bit scary jumping into the unknown and stepping into the world of variable income but looking back six years later I believe it is one of the best decisions I have ever made.

Trading the markets and doing business gives you the freedom to live life at your own terms beyond the 8 – 5pm grind at work.  It allows you to use your God given gifts to the best of your potential.

I encourage everyone to either invest or start their own business empire but before you can do that there are things you must consider before jumping into the unknown so that you won’t just be gambling your future away but taking calculated risks to help you meet your business goals.

I dream to see a day when we have millions and millions of Filipino entrepreneurs!  I really believe it would be entrepreneurs who would change the status quo in the country!  It would be entrepreneurs who would take this country forward and create opportunities for so many people!

 

Start A Business

Catch me in my live training events! (quick plug)

The heart of why I do this seminars is I want to build a generation of Filipinos with the right foundation in stock investing.  I want to bring smart investing to every Filipino around the world! If you would like to know more on how you could time the market checkout the trainings below.

What can you learn from the video?

The heart of this post is to give you insights on what to do before you take the leap and quit your job.  There are principles in financial planning process that are very important for every future entrepreneur to consider.  It’s just like laying the right foundation before building a very large building.

This was a video interview 5 years ago (Check out the hair!)  for Rise and Shine.  I hope you enjoy and learn a lot!

Here are some of the items discussed in the video:

1.  Entrepreneurship is not taught at home
2.  You need to create a source of passive income
3.  You need to start a good foundation for investing
4.  Pay for consumer debts first before going into business
5.  If you are in debt, the most acceptable would be a housing loan
6.  You need to have a level of savings for business
7.  Build up your emergency Fund as you start your business
8.  Saving money should be gradual
9.  Start saving from where you are
10.  Start a business that you are passionate about
11.  There are other things to consider above and beyond your product and service
12.  Try to be good at something that people will be willing to pay you for it
13.  For low capital business, try to start with service related businesses or do buy and sell
14.  Try to do online businesses from the comforts of your home
15.  Check if your sideline is doing well and earning well before you quit your job
16.  You can be successful if you know how to manage your money well.

I’m excited to share my 5th book overall and the 4th book in the Stock Smarts series, Stock Smarts: Breaking the Resistance – How to time your traders perfectly. The heart of this book is to teach you strategic ways on how to come in and buy and sell stocks in a way where you come as the market is headed up and come out as the market is headed down. The book is now out and exclusive via Marvin Germo Book Orders.
For more details and to order my other books: Marvin Germo Book Orders
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