Since I published part 1 of this list last weekend, I’ve been getting several requests to come up with part 2 before January 15 (which was my target date for publishing part 2). I guess I hit the mark with my previous list; and I thank all those who have supported it.
As I said in my previous article, this top 10 list of business ideas you can try in the Philippines didn’t come easy. As a business consultant, I’ve come across many interesting start-up business ideas. Believe me; narrowing all these great ideas into just ten was indeed a challenge. Well, I won’t leave you hanging any longer; here’s PART 2 of our list:
Number 5 – Online Trading:
I know you’ve all heard stories of people getting rich by selling online. These stories are true. Take the cases of Angelo and Eireen Brenardo, and Chris Angeles. They have made a lot of money from online marketing.
Ten years ago, Angelo and Eireen bought truckloads of antique soda bottles and auctioned them off and sold some on eBay for three times their value. After that deal, Eireen was hooked. Her passion for eBay, selling collectibles, antiquities, art, etc. all over the world, grew; and within a year, the couple became eBay Power Sellers.
Chris, on the other hand, started selling rubber wristbands on eBay just to raise extra money to augment his college allowance. Two years later, Chris made millions selling those wristbands to bulk buyers in the USA.
These stories may be true, but what we don’t see is how dedicated and passionate these people were in doing their business. You don’t simply post your items on eBay and hope they sell. You still have to work at it. If you put in the work, however, the rewards are great!
Number 4 – Local Outsourcing:
Just like “virtual services”, local outsourcing is fast becoming popular; especially for start-ups and SMEs. In fact, whole departments (like Human Resources, Sales, Marketing, Customer Service, Information Technology, etc.) can be outsourced at a reasonable price to companies who specialize in these services. This will help entrepreneurs focus on their core competence; creating quality products and services.
Another benefit we get from outsourcing is that we are sure we will be hiring highly experienced, competent and focused agencies (or departments). Why? Simply because these agencies have been focused on the same type of job, and have been doing it for different industries for some time.
Starting your own outsourcing company may not be easy at first; but if you’re doing what you’re passionate about, it won’t be long before you start building a good reputation and start earning.
Number 3 – Alternative Power:
Several years ago, offering alternative power solutions (solar, wind, compressed air, etc.) would have been too expensive to market. However, nowadays, if you know where to look, you will find very cheap sources of alternative power.
As a matter of fact, I really can’t understand why these solutions were so expensive in the first place. Take solar cells, for instance. Their main component is silicon. Did you know that silicon is one of the most abundant minerals on Earth? Why pay so much for something that is literally the dust under our feet?
If we do our homework right, we could make a lot of money with this venture; and help the environment in the process.
Number 2 – Electric Vehicles:
Here’s another venture that would have taken our main-steam car companies forever to implement if it hadn’t been for China. Yes… China! Chinese vehicle makers got the jump on a lot of these main-stream vehicle makers by coming up with their own fully electric vehicles (e-vehicles) long before the main-streamers could launch their own.
In the Philippines, e-vehicles are not yet that common. Yet, congress and the senate have already submitted legislature that would greatly favor buyers and sellers of e-vehicles. Once this law gets passed, expect an influx of e-vehicle sellers. If you’re going to ride the wave on this, now’s the time.
Number 1 – Recycling:
When we Filipinos think about recycling, we usually imagine poor people pushing carts, collecting plastic bottles, metals and paper from garbage cans around the neighborhood. Well, what we don’t see is that recycling has already become a dynamic, money-earning business.
Certain enterprising individuals have actually found some creative uses for garbage; from hollow blocks (used in building houses) to compost fertilizers to methane fuel, and more! In fact, in one of the future episodes of the SME Forum (hopefully in February), I will be interviewing Mr. Jayme Navarro, whose Pyrolysis Technology can actually convert Trash Plastics into less sulfuric Diesel, Gasoline, & LPG! Isn’t that amazing?
If you’re not afraid of getting dirty, recycling is the way to go!
is the Managing Director of Our-Knowledge Asia and a Business Consultant for Local and Foreign Start-ups, SMEs and Organizations based in the Philippines.