Micro Entrepreneurship

It’s been 3 months since I started my journey as a micro entrepreneur,  there are a handful of  things to unlearn and so many new lessons to discover. Please allow me to share some of my realizations thus far.

Micro entrepreneurship is not about

1. Less work– unlike in my former life where I got lots of people to delegate work with. Well, not anymore.
2. Less pressure– as an employee, you can slow down but salary is still coming at the expected pay-out. As a micro entrepreneur, no productive output = no income
3. Playing hard ball– as an executive, I can play hard ball with colleagues, but as a micro entrepreneur, I need to invest on goodwill.
4. Working at home —  but working mobile
5. Flexi time– because entrepreneurs work 24/7
6. Sales– it’s about the all things
7. Networking– it’s about relationship
8. Specialization– it’s about diversification. You don’t know what area will give you revenue
9. Meeting  a need– because entrepreneurship is about making a need known
10. Risks– but about faith. Believe on yourself and your conviction

My journey to entrepreneurship is no walk in the park but fun. Need lot’s of prayers to look beyond the difficulties and regular shots of faith to be courageous. Until my next learning update…

If you are a micro entrepreneur like me,  juggling daytime work with that of my (side) business, you know we don’t have the luxury of time. Thus, we have to prioritize and focus on the business that will give us the most return, B2B or B2C?

For the benefit of the non-marketing people in the house, B2B pertains to business to business model while B2C is business to customer.

My side business is 3 fold, [1] online marketing and selling of  moringa (malunggay) health products, and [2] do consultancy for e-marketing and [3] facilitate training programs for companies. The 1st one is B2C, while the last 2 is B2B.

Obviously, what gives me the most returns is B2B. Thus, my energy and available time is focus there. It does not mean, however, that I allow my online selling die a natural death. If time permits, I also attend to the demands of B2C, or I ask my wife to handle it.

In some situation, B2C generates more revenue than B2B, totally the opposite of mine, thus, other micro entrepreneurs have different priority.

There is no hard and fast rule in doing business, the key is efficient in the use of the available time.