Almost all overseas Filipino workers (OFWs) dream of coming home for good, but in a way that they can still provide for a roof over their heads and their family as well.
If you’re stressing about whether to leave your current job overseas to come home and start your own business, motivational speaker and life coach Chinkee Tan leaves a few tips you might want to check out.
Transition is the key
The allure of earning money at the comfort of your home country and not being a thousand miles away from your family might push you to hand over a resignation letter in a flash.
But it could take months before you break even and start earning money.
Tan suggests building up your new business on the side before transitioning into full-time entrepreneurship as you expect money to be tight in the first stages of setting up a business.
“Habang kumikita ka sa work, may steady source of income, doon ka mag-start ng business mo.”
But as your regular job take up most hours of your day, be prepared to devote the rest of your time in making your dream business a reality.
Take the slow but sensible approach
It could get overwhelming as you layout your plans as an aspiring entrepreneur.
Be patient and allow yourself a learning period, to learn about being “the boss” from managing people to managing your finances.
Do not be afraid to ask for help as there is a bevy of mentors or advisors that can aid you with your financial, legal, and other business needs.
As to when is the perfect time to transition from being an employee to an entrepreneur, the financial advisor has this to say, “Kapag nakikita mo na na-out-earn na ng business mo yung original source of income mo and pag nakikita mo na may potential pa lumaki ang business mo kapag pinaglaanan mo ng oras, that’s the time to go full-time.”
Photo credit: chinkeetan.com
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Related: How OFWs can loan up to P2 million from OWWA to start business