A discussion came up this morning about living here in the Philippines as there are a few things in common with people who quickly go bust and leave. The first one is the trust issue which I mention regularly could be girlfriend,wife,relatives, workers or all of the above but generally someone will do a lot of damage to peoples finances and business and it normally is trusting someone else with things you can’t afford to have mistakes or go wrong.
Which gets back on track with gaining a sustainable income first before branching into bigger projects. Someone criticised the setup I have although without any real logic to the complaint except that they are just complaining. You need to be sustainable to expand from it and with things that don’t control your day so that your free to do other things. This is the same reason people that operate Jeepneys and Taxi’s successfully can either spend more time improving their ventures or look to expand. On the other hand someone piling P1million into an eatery in an area they don’t know and to a market they haven’t researched can find within months they are lucky to stay afloat. Even in those E-books I think are fairly useless someone did write about multiple enterprises being the way to go in the Philippines and I think its the only way to go due to strange patterns. E.g. doing a restaurant may work annually but some months are just totally dead having things operating in the background help to keep things afloat as well as build a nest egg. Same goes for resorts or anything else people orientated.
The internet for example with TP shows that it can provide enough income to support a small family monthly and that it only takes an hour a day if that to keep it rolling. Which means even doing things like growing plants to eat or buying a pig to slaughter every peso adds up and being able to push forward from a sustainable life gets the ball rolling. In the UK its a lot harder to operate this way as it takes time and the UK eats money like no tomorrow unless your already making it. At the same time I look at all these small businesses struggling in the current market conditions and wonder what if you actually started doing sales and marketing from the Philippines for them? Something they couldn’t afford normally in a lot of cases but your in an ideal location and would only need 1 – 2 clients to even get started. Doesn’t just need to be the Philippines plenty of countries out there although better to use your original place of origin as the tax system can be worked to keep people’s paperwork in line.