Implementing the

Business Plan
Setting up your Business
Location
• Very important
• Research the best location
• Choose a location that has high foot
traffic and accessible to your target
market.
• Should be accessible to your
prospective employees.
• Check the proximity of your
competitors.
• Virtual locations (FB Page, IG,
mobile phone number or other
means to sell and take orders for
your product.)
• Consider the cost of the location.
Business Registration
Prepare at least 5 You must be 18
Business name shall be
attractive and creative
registered at (DTI) for years old and above
single proprietorship, business names before
you proceed to DTI or to register your
and (SEC) for partnership
and corporation. SEC. business name.

Once your business

Bring at least name is approved you
will pay necessary fees
two government depending on the
IDs. coverage of your
operations.
 Proceed to the Barangay where your business is
located.

Registration Acquire a Barangay Clearance to ensure that you

comply with the rules and regulations of business
Business
operation.

The Barangay Clearance will also be used to get

your Mayor’s Permit.

The Mayor’s Permit will come from the local

municipality where your business is located.
Note:

All of the mentioned permits above will take time to be processed

and have corresponding costs.

Remember that you cannot operate your business without securing

all the permits.

Other permits will be required by other government agencies

depending on the type of your business.
 • Review your business plan to identify the people that
you need to hire.
• Some businesses hire people after few years of
operations to save on costs; however, this depends
on the requirements of your business.
• Remember that you need to be competitive which
means that help from others is always needed.
People • Hiring the right people is important. This means that
the skills and competencies of your prospective
employee/s should match your requirements.
• You may ask your relatives and friends for referral of
possible employees.
• The usual practice for micro and small enterprises is
to hire their extended family members because they
trust them and they can communicate well with
them.
 • Whether or not you know your candidates
personally, ask them to submit their bio-data and
government clearance.
• Schedule an interview to get to know their work
experience, skills, and competencies of the
candidate.
• Check if your candidate will be able to contribute to
the growth of your business.
People
• Once you identify your prospective employee/s,
offer a competitive salary and compensation. Also,
you must allot time to train them.
• Training may be done every morning before the
start of your operations or during the operations as
long as you supervise them.
• Remember that your employees are your assets and
they will help you grow your business.
Suppliers
• Identify your suppliers during the
prototyping stage of your product.
• Recall the suppliers you tapped when
you prototyped your product.
• Start communicating with them and
ask them if they are willing to be your
partner.
• Suppliers are very important because
you get your raw materials and
resources, which includes your
machines and equipment, from them.
• You cannot produce your products
without your suppliers.
 • Do a research
• Look for competitive rates for your raw
materials.
• You may also haggle the prices of raw materials
when you purchase in volume or in bulk.
• For subcontracting of service, you must find a
Suppliers supplier that can execute your product well.
• Create a simple contract to protect your design
and product exclusivity.
• For example, if your shoe business
subcontracts its shoes to a factory in Marikina,
the factory owners should be aware that your
design is exclusive for your business and
cannot be produced for others.
Note:

A good business and

supplier relationship
contributes to the
success of your
business. Treat your
suppliers as your
partner in growth
and deal with them
professionally.
Operating the Business
Operating the Business

Once you are done setting-up of your business, it is time to launch it.

Create activities for the opening day of your business to attract your customers to buy your
products or services.

You need to increase marketing activities in the first few weeks of the operation to increase the
brand awareness of your business among your target market.

Promote and advertise your business for your customers to know your business exists.

Provide contact details where customers that your business is accessible.

Operating the Business

Create a simple daily operating guide based on your operations plan.

You should follow a fixed opening and closing hours so that customers know
when to visit your business.

Regularly update your inventory list for your business to have enough products to
sell or services to offer to your customers.

It is also important to have a record of your daily sales and expenses to check if
you need to change your activities to increase your profit.
 4 M’s of
Operation
Operation Management

It’s designing, developing

About delivering products
and executing operations
and services to customers
that assures the intended
to meet or surpass their
outcome of the customer’s
expectations.
wants and desires.
Methods
• System and step by step process
in the business. Without a scalable
process, it would be difficult to
expand the business. This means
that the methods used in the main
branch must be documented.
• It must be replicated as well in
other branches.
• A set of procedures and
instructions.
• Plans, Policies, Procedures, and
Data.
• Controlling waste is the key to
efficient and profitable production.
Manpower
• This is the worker.
• Honest and capable people is always a challenge.
• It is rare to find someone with all the ideal qualities. Man in
management is referred to as a human resource.
• It is the recruitment, promotion, and grievances of handling
personnel.
• When examining the Methods you now have in place, what
is the ideal number of people it will take to perform these
methods and what positions should they be in?
 Machine
• Machinery is also important.
• These are the basic tools to produce
goods or to generate services.
• Not only enhances efficiency but also
saves times and increases revenue.
• When examining your facilities, vehicles
and tools, do you have everything you
need to ensure the safety of the
employees while maximizing the
efficiency and productivity of the
department?
• Do all employees have access to the
same tools and equipment if needed?
• Do the tools enable them to perform
tasks independently?
Materials
• Sourcing raw materials is critical in
any business endeavor as the
businessman would want to have th
e cheapest possible at the highest
quality.
• Is a basic ingredient in
management be it a service
industry or a product industry.
• Most of the industries locate thems
elves nearby to the availability of m
aterial.
• Do you have the materials needed
to perform all parts of production
and are they conveniently located
to minimize waste?
• Does the layout of the production d
epartment minimize wasted
Running a business is a complex process and all of these elements
interplay

It is not just one machine for example but many. Manpower issues
could also arise, which would challenge the method that has been set up.

It is up to the businessman to identify and solve these issues.

 Focus on selling the features,
advantages, and benefits of your
product or service to your
customers.
Sell the Product or service feature describe
characteristic and components of a product. The
the

product or service benefits are what the customers

product gain and value and from using your product or
service.

or You and your employees should be knowledgeable

about your products and services so you can
communicate well with your customers and address

Service their concerns.

Establish a friendly environment in your

store and have a professional relationship
with your customers.
 Value Chain

• Is a method or activities by
which a company adds value
to an item, with production,
marketing, and the provision
of after-sales service.
• The main goal and benefit of
a value chain, and therefore
value chain analysis, is to
make or support a
competitive benefit.
Supply chain

Is a structure of organizations, people, activities, data, and resources

involved in moving a product or service from supplier to customer.

The main objective of supply chain management includes management of

a varied range of components and procedures, for instance, storing of raw
materials, handling the inventory, warehousing, and movement of finished
product from the point of processing to the point of consumption.
 Reasons for keeping business records
1. An article by Forbes showed that in the US, 80% of businesses fail in the first 18
months. Entrepreneurs succeed by learning from such failures then trying again
and again. Business records allow you to learn from both your mistakes and
success so that your business will constantly improve.
2. You cannot manage what you cannot see. Business Records allow you to
monitor your performance versus your targets and provide you clues as to what
you need to improve on to achieve your targets.
3. There are many government regulations, such as taxes, that require the
business to keep accurate financial records. As your business grows, so will the
scrunity of the government necessitating strong financial controls.
4. Entrepreneurship involves math, with financial statements being the language
of business. Having complete and legible business records allows the
entrepreneur to ask or hire assistance from accountants to reconstruct financial
statements. Incomplete records are impossible to recreate so having everything
recorded makes it easier for others to help you.
 PT 2.1: Spot your Location
• You have learned that you need to
choose the right location for your
business. On your cattleya notebook,
draw and sketch the location where
you plan to put your business. Indicate
complete details and include the
landmarks near your location.
• For example, retail stores usually put
their business near the public market,
churches, near bus or jeepney stops,
or any place with high foot traffic
because they need walk-in customers.
Name of Business:

Business Location