TALK# 5

BUSINESS
CONCEPTION
JSS PFMC

PRAYER
Everything I need comes to me
Julies Bakeshop Owner

LEVELING OF
EXPECTATIONS
What do you expect to learn from
our session today based on the
title itself?

Objectives
1. To know what are our options
in building a business (types)
2. To know the different legal
forms of business.
3. How to start a business.
4. To help clients create their
Business Ideas

Business
Giving value to customers in-exchange for
monetary benefit.
Nature provide service/product for profit.
Measurement Tool- Balance Sheet,
Income Statement, Statement of Cash
Flows.

What are you before venturing

into business?
What do you want to do with
unemployment/underemployment rate?
What do you want to give to your family?

Business Contributions:
Society
Employment
Need of the society is/are meet.
Increase of property values in the locality.

Business Contributions:
Government
Taxes

Oneself
Personal, Financial Growth and purposeful life.
All that there is possibility is seeking
expression through men
Wallace Wattles

What a person can be, they MUST be.

Abraham Maslow

Business Contributions:
Family
Opens avenue to help the society.
Increase ability to enjoy every beautiful aspect
of life.

Creator
Fulfillment of our mission as co-creator.

Types of Business
1. Merchandising buy and sell.
Ex. Gaisano Mall Supermarket

2. Manufacturing turning raw materials into

finished goods.
Ex. DSCC cane to sugar

3. Service
Ex. Saloon, ticketing office.

4. Production/Agriculture
Ex. Growing of rice, banana, coconut.

Manufacturing
Converts raw materials to finished goods.

Choices of Business
Merchandising

Manufacturing

Services

Production

Textiles/raw

Sugar

Ticketing Office

Rice

Childrens Wear

Cakes and
Pastries

Tutorial

Banana

Grocery

Soap

Lending

Livestock

Cell
phones/Jewelries

Oil/Soy Sauce
Making

Pawnshops

Buy & Sell of

Flower/Plants

Give Away Making

Cell phone
Service Center

Growing rose and

other flowers

Legal Forms of Business

1. Sole Proprietorship one owner
2. Partnership two or more owners, exists
once partners have executed a contract.
3. Corporation requires at least 5
incorporators, exists when certificate of
incorporation is issued by SEC.
4. Cooperative
5. Trusts created for one service package or
product

Dis/Advantages Per Type

Type

Advantages

Disadvantages

Sole

Easy to run no conflict

Limited Capital/Ideas

Partnership

Two or more minds much Misunderstanding may

better than one.
arise among partners.

Corporation

Unlimited Sources of
Capital, unlimited life.

Complicated legal
requirements.

Corporation

Limited Liability

Limited credit line.

Other Options
Traditional Business discussed above
Multi-level Marketing product, price,
system is already available.
Franchising product and name made.
Franchise fee.
Products solely comes from franchisee
Franchisor select the place, give the capital.

CONCEPTION OF
BUSINESS IDEAS

STAGE #1
Know your passion what you love doing
and you want to share
Ex: reading, and applying and sharing what I learn
on financial literacy.
Dancing
Singing
Modeling
Baking

You are here to manifest the glory of God that is within

you; its not just in some, its in everyone.

Marrianne Williamson

STAGE #1

Identify your current resources that can be turned

into business.
Time
Where are you most of the time?/what are you doing most of the time?
IA/Actng Department, Analyzing FS, looking for system/internal control improvements

Who are you with most of the time?/What are the products/services you & they are using most of
the time?
Acctg/Auditing people/Ideas (few of us into investing)

What are their needs, are they meet, what can still be done (innovations)?
Accounting ,Auditing and Investing Ideas can still be explored.
Ex. of market made for a product/innovations: coffee mate, dishwashing, clothes stain remover, conditioner.

Talent
Currently, doing as source of living? Can you turn it into business? Ex. Teaching, to
tutorial, creating a school of your own.

Treasure
Look into your assets and check for items that can be a source of monetary
benefits

STAGE #2
What Value can you add to your
clients?/Determine the why of the target
market in patronizing your product/service.
wants to cut the vicious cycle of
income=expenses, those who dont want to retire
old and without money.

Determine your target market.

Employees who wants to be financially
literate/free.

STAGE #3
What are the other possible products/
services related to your mainline?
Business Plan (for clients who will start there business)
FS Making and Analysis (for clients who have business)
Setting-up/Codification of Internal
Control/Systems and Methods (for clients who have
business)

Expand your possible market

businessmen, anyone who wants to be
financially literate/free.

STAGE #3
Determine ways of reaching out to your
target market in letting them know you
have the product/service.
Marketing strategies
Pamphlets.

Passion (3Ts)

Value to
Customer

Entrepreneur

The role of the entrepreneur

as an innovator, the person
who develops a new product,
a new market, or a new
means of production.
Joseph A. Schumpeter

Entrepreneurs
Benjamin Franklin - phone
Henry Ford transmission mechanism
Bill Gates Microsoft Corporation
Steve Jobs Apple Inc.
Sam Walton - Wal-Mart in retail sales.
Herb Kelleher/Rollin King Airlines business.
Ray Kroc - MacDonalds
Harland Sanders of Kentucky Fried Chicken (KFC)
Dave Thomas Fast Food
Charles Goodyear vulcanization of rubber