(Warning: This post is not an expert's advice, it is solely based on naughty mind which I suppose will help those who wanted to start their own business, hope you like it!)

                                                    STARTING MY OWN BUSINESS

            Maybe most of you are wondering, starting my own business? Starting my business in a pandemic? Really? In a pandemic where the economic standpoint are going downturn, everyone desires to have something as their own source of income, a really stable source of income. Above stated are the tips on how to think with stability and as well as with steps of risk and with greater returns.

1.) Think of something that you love and make it as a need.

- Popular opinion isn't it? You start businesses because you love to do those things. You pursue the field of arts, maybe painting and selling you artwork, creating music or books and strive to earn royalties.Those mentioned are considered businesses because you are earning something out of something you sold or in simpler sense, you exchanged something you made for money or for any other consideration. Someone who loves to cook would pursue creating their own stores or restaurants or fast food stores and stalls. Basically, if someone loves what he or she does, they will focus on that as their main business plan or idea. Now, we already grasped on the idea that someone should purse what they love, the question arises, did you consider the market saturation on that idea? If it is really saturated, what are your ways on making yourself one of a kind? On basic definition, Market Saturation can be defined as the inability or difficulty of another competitor to enter and be a major competitor in that market because there are much more competitors within and inside the market. Take into consideration the food industry, there are tons of competitors in a sector, basically from the major competitors up to small scale entrepreneurs. Think of an idea, what will be our distinguishing factor compared to others? What will be the effort that I will exert to be different? On how much risk will I need to give out in order for returns to give in? Well it is a question that should be dealt individually since everything differs from case to case but one thing I can assure, think of something that is not a need and then it will turn on as a need in the present or in the next years.  Suppose that in the past years mobile phones are not necessary for everyday living but nowadays, it is of great necessity. Someone needs to have phones in their pockets for them to function in their daily living. Modules and work from home setting requires usage of mobile phones. Focusing on the topic, you should know how to make that craft as necessity, maybe because its trending or famous, maybe it has certain specifications which will make life easier, or maybe the taste of that certain dish makes everyone crave. That is the general viewpoint on how to make something you want to do as a necessity for others.

2.) Know the risks involve and know the returns

-In a basic point of view, risks are those things you let go for you to generate income. Let us consider this in a logical viewpoint, your capital or that thing you used for you to generate income bears risk. You risked an amount of money or a thing for you to create that craft with expectancy that something will return. You risked that money in order for you to earn interest which will be earned over a period, maybe in months or years. In a more technical view, the more risk you exerted in a thing, the more returns you gain because you will be compensated of that risk. You let go of that thing with an expectancy of returns and also a great expectancy of losses, and that losses or act of bearing that loss will be compensated of more returns. Good financial standpoint or good business plan comprises of greater returns and lesser risks because in a little amount of loss, you are compensated of more than the loss you bear. Think of applying it in a business setting, suppose you produced ten pizzas and you risked one thousand for it, you projected that only half of the pizzas will be sold. If the demand for your pizzas was great, the more returns will be generated because more customers would want to compensate you or buy your pizzas for the loss that you bear or in expectancy that such items will not be sold in exchange of money. Consider now, how much risk is required for you to generate gains? Do you need to hire some advertisers or risk money in advertising for you to gain income? Would it be a need to create a crafty and trendy packaging for you to sell your products in a much greater price? Will I need to incorporate a stronger taste and risk my present menu in my dishes to capture the greater market? A good business strategy and environment scanning or in basic senses, knowing the general pulse of the public will help you answer the issue.

3.) Social Responsibility

-I incorporated this principle in this talk because this idea shall be dealt nowadays as businesses emerge aiming only to gain profit. Social responsibility is a major factor to consider when starting up a business. The idea is this, suppose you are selling pizzas again, we should know what impacts would my pizza have in the society, will my pizza boxes harm the environment? Am I promoting unhealthy living? Is my pizza nutritious? If we consider our responsibility in the society, we can hold into our business for a very long time since we are in the path where we follow the need and we make the need constant. A need can be erased from the charts if that need will be found unhealthy or inefficient or ineffective in serving its purpose. Businesses should also consider playing their roles here on earth, promoting healthy living, and as well as creating business opportunities and employment opportunities for others which will never be detrimental. In every step that we take, we should take responsibility in every action that we make. Moving further, an exemplary act which others will notice will entice them to procure or purchase your products since it is of a very good marketing strategy. Businesses and money are stuck together but one sticks the most, that is social responsibility.