In my last article, I told you what our Purpose is and how important it is and i just want to continue a bit on that idea. It is amazing to create a business around something you love, but you have to know what your purpose is! You need first of all to know why you want to open the company? and then what the purpose of the company is?
So let’s break it down in to the two questions and let’s dig a little deeper on try to help you understand these questions.
Why do you want to open a business?
So there are many reasons why you would want to open a business, and it is different for everybody, some just want the independence, some like the idea of being an entrepreneur and building a legacy, some just want to live of what they love. And those are all great and amazing reasons, one that usually doesn’t work is when you want to open a business only to earn money. Often people copy an already existing business model, just because they see that it works for somebody else? But is that really what you want to be doing?
I have noticed this especially when I was in Manila, the last time, a good friend of mine came up to me and said look to juice bars in the malls work really well, shouldn’t we open a juice bar? Well there are juice bars on every corner and i don’t really feel like selling juice for the rest of my life, i want to do something that has more meaning.
Adding to that, you would have had to buy the franchise to sell the juice, plus the space in the mall, plus plus plus, in the end of the day, we wouldn’t have been profitable.
So make sure you really do what you love doing, opening a company is a great way to do that, maybe you want to be a photographer, there are great jobs now as content creators or you want to be writer, just do it like us here at Oversea Pinoy and start a blog…
What is the purpose of your business?
Now to the part that is more hard to find out and it will take a lot of time to think about, but i think if you get this down and find the reason for your company then you can achieve great stuff.
I think I mentioned this in the last article but the goal or the purpose of Michelin, the “tire company” was never to sell tires, but to promote “moving forward” and taking that in to consideration a lot of their travel guides websites and books make sense.
And I believe if your goal is for example to promote Filipino cuisine in your area and make people fall in love with with Filipino culture, you can go much further then just limiting yourself to opening a restaurant because you want to make money.
So to finish this longer article! FIND YOUR PURPOSE! Decide WHY? you want to do things before you do things and in the future comeback to your why? and check if everything is still inline with your why!