Starting a family business offers unique rewards – shared purpose, flexible schedules, and the chance to build a legacy. However, it demands careful planning and execution. This guide outlines key steps to successfully launch your venture.
Idea Generation and Validation
Begin by brainstorming business ideas that leverage your family’s skills and passions. Consider your collective strengths, interests, and available resources. Avoid simply choosing an idea because it sounds lucrative; focus on something you’re genuinely enthusiastic about, as this will fuel your perseverance through challenges. Once you have a few ideas, validate them. Market research is crucial. Analyze your target market, identify competitors, and assess the potential demand for your product or service. This can involve surveys, interviews, and analyzing online trends.
Crafting a Solid Business Plan
A comprehensive business plan is your roadmap. It should include:
Executive Summary: A concise overview of your business, its goals, and its strategy.
Company Description: Detail your business structure (sole proprietorship, partnership, LLC), mission, and values.
Market Analysis: Your research findings on your target market, competition, and industry trends.
Organization and Management: Describe your family’s roles and responsibilities within the business. Clearly define who is responsible for what.
Service or Product Line: Detailed descriptions of what you’ll offer, including pricing strategies.
Marketing and Sales Strategy: Outline your plans to reach your target customers, including advertising, social media, and sales channels.
Funding Request (if applicable): If seeking external funding, detail your financial needs and how you’ll use the funds.
Financial Projections: Include realistic financial forecasts, including projected income, expenses, and profit margins.
Legal and Financial Foundations
Choose the appropriate legal structure for your business. Consult with a legal professional to determine the best option for your family’s circumstances and liability concerns. This might be a sole proprietorship, partnership, LLC, or other structure. Secure necessary licenses and permits. Establish a separate business bank account to maintain clear financial records and protect your personal assets. Investigate funding avenues such as personal savings, loans, crowdfunding, and grants.
Defining Roles and Responsibilities
Clearly defining roles and responsibilities within the family is paramount. Avoid ambiguity and conflict by creating a formal structure that outlines each member’s contributions, decision-making authority, and accountability. Regular family meetings to discuss business matters are essential, fostering open communication and collaboration. Establish clear communication protocols to ensure efficient workflow and prevent misunderstandings. Consider creating a family constitution outlining decision-making processes and conflict resolution strategies.
Marketing and Sales
Develop a robust marketing and sales strategy. Leverage your family’s network and connections to build initial customer relationships. Utilize social media, local networking events, and online platforms to reach a wider audience. The provision of exceptional customer service is key to building customer loyalty and encouraging referrals.
Managing Finances and Growth
Maintain meticulous financial records. Track income, expenses, and profits regularly. Use accounting software to streamline financial management. Invest in appropriate technology and tools to enhance efficiency and productivity. Regularly review your business plan and adapt it as needed to respond to market changes and business growth. Consider seeking mentorship or advice from experienced business owners.
Balancing Family and Business
Maintaining a healthy work-life balance is crucial. Balance work and family life by setting clear boundaries and scheduling dedicated family time. Open communication about work stress and healthy coping mechanisms are crucial for preventing burnout and nurturing strong family bonds. Remember that the success of your family business depends on the well-being of your family members.
Starting a family business is a challenging but rewarding endeavor. By carefully planning, defining roles, and fostering open communication, you can increase your chances of success and build a thriving business that strengthens your family bonds. Remember that flexibility and adaptability are key to navigating the ever-changing business landscape.
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If you have any questions or would like to share your thoughts on the column, feel free to send an email to jca.bblueprint@gmail.com. Looking forward to connecting with you!
 
				






Finally, benteng bigas is here!
Critics and skeptics of the current administration would not stop attacking and hurling adverse comments about the government’s accelerating rollout of President Ferdinand R. Marcos, Jr’s flagship food security program “Benteng Bigas, Meron Na!”
But nothing could really stop a determined government to pursue what it simply deemed right for the country and people.
For now, it’s quite obvious that the Department of Agriculture, the National Food Authority, the Food Terminal Inc., and other allied agencies are ramping up their united efforts to provide rice at P20 per kilo to at least 15 million households by 2026.
The initiative has received overwhelming public support while the national government is collaborating with LGUs to sustain and expand the Program.
President Marcos himself has officially announced that to date, the government is providing rice supply that is sufficient for 51 percent of the country’s population.
He said he is optimistic in increasing the number of Filipinos who can purchase the cheaper rice.
“That’s for now and hopefully we will bring it up, up to the point that bigas for all. It will all be P20,” Marcos further said.
Just recently, the DA Regional Office 8 in collaboration with the National Food Authority (NFA) in Leyte, closely coordinated with LGU-Tacloban thru City Agriculturist Romelo Anade to make this initiative happened for the first time while the City government is currently doing its best to forge a Memorandum of Agreement with the Food Terminal Inc. – as the main implementation arm of the government’s Benteng Bigas and Rice for All Program.
Said interagency initiative is brought directly to the barangays through “Kadiwa on Wheels” to spare residents the cost and hassle of traveling to the city proper just to access the affordable rice.
The DA now plans to extend P20 rice access to farming and fishing communities nationwide by month’s end, starting at fish ports.
Weekly provincial rollouts will also continue in areas with active NFA depots/bodegas through the end of the year.
President Marcos has directed the DA to sustain the subsidized rice program until the end of his term in 2028.
But one major concern that keeps bothering the minds of government critics is the question of the program’s sustainability.
On this note, allow me to refresh our memory. Haven’t you heard that a town in Eastern Visayas was the first to have launched the P20 per kilo rice long before the Bigas Meron na Program came to the fore?
Well-intentioned farmers in the town of Biliran, Biliran, have been doing the selling of their rice at only P20 per kilogram since 2023. Accordingly, it’s their way of paying forward to communities after receiving several program interventions from the government.
Municipal Agriculturist Lemuel Antonio said they are the pioneering LGU that positively responded to President Marcos’ challenge to sell rice at P20 per kilo.
Originally, its primary beneficiaries are the poor, including senior citizens without their own income. They initially struggled with rice prices before when said staple food exceeded P40 per kilogram in the market.
Under the scheme adopted by LGU-Biliran, farmers mill their own rice instead of selling palay (unhusked rice) to private traders. The rice is sold at the Kadiwa stores set up in villages by the municipal agriculture office.
Based on this Biliran experience, farmers still gain since the DA is providing free fertilizer and a high-yielding variety of seeds. As we all know, a bag of synthetic fertilizer costs at least P2,000, while a bag of rice seeds costs nearly P1,000. Some farmers receive more than one bag of fertilizer and seeds.
Apart from these inputs, they also get incentives for production from the office of the Mayor. Not to mention the P5,000 unconditional Rice Farmers Financial Assistance (RFFA) continuously provided – with such cold cash that comes from the government’s tariff-generated funds.
So far, a number of local agriculture officers in Leyte and Samar provinces have now been adopting same strategy, like Basey in Samar. Others, are still contemplating if their local chief executives will opt to adopt the said strategy.
Perhaps, taking the cue from LGU-Biliran’s experience, the national government has complemented this LGU-initiative with the launching of Benteng Bigas, Meron na Program.
Many will surely doubt the sustainability of this program, for all intents and purposes, it’s a breath of fresh air that finally, we have a Chief Executive who has the political will to lower the price of our very basic food staple. No other President before him has done this, so far. And such a noble cause must be supported by every Filipino.
During our official Launch at Pope Francis Village here in Tacloban two days ago, the program has earned praises and approval from its beneficiaries such as Senior Citizens, Persons with Disabilities, Solo Parents, and including the beneficiaries of the Pantawid Pamilyang Pilipino Program.
The prioritization of the vulnerable sector as program beneficiaries is in consonance with the mandate of the President and Department of Agriculture Secretary Francisco Tiu Laurel Jr. the rice being sold and distributed is of good quality despite its affordable price.
Many program beneficiaries openly expressed their gratitude for the initiative.
Melissa Arnoco Labrador, a 4Ps beneficiary, noted that the program will help her save a significant amount of money, as rice prices in the market commonly cost P45, more than double the program’s price.
Anilia Capul, a senior citizen and beneficiary of the program, stated that the initiative is a huge help to her large family, consisting of 10 members, including seven grandchildren.
“Nagpapasalamat ako hin madamo,” [I am greatly grateful] Capul said, expressing her gratitude to the government agencies behind the program.
The Benteng Bigas, Meron Na! or P20 Rice Program, is a partnership undertaking between the National Food Authority (NFA), the Food Terminal Incorporated (FTI), and Local Government Units (LGUs) that seek to avail of the program.
Allied government agencies such as DOLE, DTI, and DSWD are also strongly supporting the program with each one trying to forge a Memorandum of Agreement (MOA) with FTI, so that they could respectively cater to their qualified target clients.
Personally, I consider this initiative a milestone, and a real game changer. We hope and pray that more community-based programs like this, will be initiated by the current dispensation for the benefit and welfare of the Filipino people.