“People don’t buy what you do, they buy why you do it.”
— Simon Sinek, Start With Why
There are two underlying topics that is covered in this podcast: Why do people get into business and why should you register your business.
In this pilot episode, our CEO and Founder, Danella, and Cristina, Chief Growth Officer, talk about the different reasons why business owners get into business.
Why Do People Get Into Business
At Full Suite, we meet different kinds of people. In the podcast, we shared some of our clients and their stories why they got into business. We placed them into 3 broad categories briefly described below:
1) Personal – monetizing a particular skill, knowledge, or craft. This is mainly your passion and something you love doing.
2) Practical – fulfilling a gap / need in the market.
3) Financial – make money and obtain financial security.
I firmly believe that a mixed of all these 3 reasons will contribute to the success of your business.
3 Reasons Why You Should Register Your Business
Registering your business with the government is something a lot of business owners don’t think of first when they get into business. But it is something that you must do because of these three reasons below.
1) Be professional, gain trust
There is a reason why companies have an accreditation process. It’s to determine who has the technical capacity for their requirements, and also determine who will pose a high risk for them.
I’m pretty sure you’ve heard of fly-by-night companies / individuals where upon payment, you no longer hear from them. The accreditation process of companies are there as a security measure to avoid these kinds of things.
In addition, if you are registered, you show that you are credible and have nothing to hide. You gain the trust of potential customers simply because you have legal documents.
2) Potential growth
This is easy to understand. Investors and financial institutions won’t entertain you without legal documents. Sure, they’ll talk to you, but they won’t give you money because it is their only guarantee that their investment will be put to good use.
3) Do your duty
As a Filipino, we all have duties and responsibilities.
And this is one of them.
Be a good citizen and pay your taxes. You can’t pay your taxes if you do not register.
Your Turn
Wrapping up, the podcast touched on the reasons why people get in to business. There were some examples and references to clients made. in addition, the podcast also discussed the reasons why you should register your business.
Do you think we missed any? Or have some feedback? Feel free to leave them in the comments below.
Also, please don’t forget to subscribe to our podcast!