7 Reasons Why Some OFW Businesses FAIL

7 Reasons Why Some OFW Businesses FAIL | Retired OFW

Рет қаралды 4,331

Күн бұрын

7 OFW Business Mistakes to Avoid | Business Fails | Retired OFW
Part of the reason why we were able to retire from overseas work in our 30s, by God's grace, was because we had businesses in the Philippines that could replace our income, aside from being debt free.
We were so blessed to be able to start our business in 2017 while we were abroad. All it took was a trustworthy and hardworking Apartment manager who took care of our business while we were away. We are extremely grateful to him for taking care of our business and treating it as if it's his own.
This is not the case for many though. :(
In truth, we always tell OFWs that they can start their businesses even when they're abroad. It's true that the risks are high but with proper planning and management, any business can grow. In this video, we discussed the 7 common mistakes OFW Businesses make that hamper their grow.
#OFWBusinessMistakes #OFW #OFWBusinessTips

Пікірлер: 26

@PausePraySimplify Жыл бұрын

What's your biggest takeaway from today's video? Please share your experience and learnings with us.

@merkov8715 Жыл бұрын

Number 1 pa lang, dale na. That's the reason why my piggery business failed. OFW ako. Ako sa pinansyal, kapatid ko naman sa manpower. Kaso napagod sya. Pakabenta ng 1st batch, ayaw na. Lugi pa ko sa pagpapatayo ng kulungan. The best talaga kung ikaw mismo ang hahawak ng operations lalo na kung nagsisimula pa lang. The idea was yours, so was the passion. Not to mention the hours of research done to finally convince yourself that its worth the risks. Parang baby mo yan e. It really demands hands-on care.

@PausePraySimplify Жыл бұрын

Aduy, I'm so sorry to hear this po. Hindi po nagtry ang kapatid niyo na maghire ng tao and then siya nalang ang mag-oversee? Or hire po kayo ibang tao and ibang kamag-anak mag-oversee kasi sayang din ang investment niyo😔

@justheretosupport3727 Жыл бұрын

Same tayo kabayan. Nag patayo din ako ng kwadra ng baboy . Naka 2 cycle lang kame tita ko ang nag alaga. Walang balik kasi binabarat ng buyers.pure feeds ang pagkain ng mga baboy . Talo talaga pero lesson learned na din. Dpat talaga ikaw ang mag manage ng magiging negosyo mo. Mas ok mag ipon n lang muna ng enough capital then uwi na sa pinas para kaw mismo hands on sa future business mo

@CMDD88 Жыл бұрын

Salamat na naman po for a meaningful video. Hindi porket kapatid o kamaganak ay swede na siyang magpatakbo ng business na pinagpaguran mong ipunin o mas hindi maganada ay hiniram mo pa ang pera. Ang aking kapatid at pamamgkin sa magkaiabang business ay blessing sa aming business pero ang nakuha nilang tumulong sa kanila ay mga taong mas mabilis pa kay Lidia de Vega tumakbo kasama ang pera. Lesson siguro ay kung wala kang hilig sa business at umaasa ka na dodoble ang iyong ipon sa business mind ng iba, ito ay dilikado. Pero dahil sa hindi magandang experience ay nagiging kontento tayo sa lahat ng blessing ng ating Panginoon at nagkakaisip ng ibang paraan. God Bless.

@PausePraySimplify Жыл бұрын

Oh no! I'm so sorry about what happened. Grabe naman yung nga nahire na yun, walang malasakit sa negosyo niyo, sarili lang ang inintindi. May God's justice be upon them. Anyway, you are blessed to have family members to help you with your business. Continue nurturing them so they can continue blessing the whole family through the business. Maganda na may napagkakatiwalaan sa negosyo. Kailangan lang talaga tiyagain. Walang madali na hanapbuhay talaga 😅 kung meron man, ginawa ko na 😂. Thanks for watching! 😊

@rogel9942 Жыл бұрын

Real estate paupahan business nababagay sa mga OFW pero hinde advisable sa lahat depende sa financial status salary kasi utang games...sa real business kailangan hands on talaga basi sa advice mo ma'am😊

@PausePraySimplify Жыл бұрын

Hi Rogel! Yes, for me rentals ang best 1st business ng isang OFW para minimal effort and monitoring compared to a traditional business. Pero need pa rin mag-hire ng magaling and conscientious manager/caretaker. And of course involvement ng OFW by checking how the business can improve. In our case, we were blessed to have both. My bro-in-law took care of our apartment for 4 years while we were in Dubai. Nag-take over lang kami pag-uwi namin for good. He was a great blessing hanggang ngayon din siya in-charge sa amin F&B Business dahil doon ang linya niya. Head chef siya dati ng isang kilalang chinese resto. So lahat ng business may risks and kailangan hands-on, hindi man physically present, pero maraming ways para maging hands-on. I remember may kakilala ako sa Dubai, resto/cafe naman business nila. And marami na silang branches ngayon. The key really is in the hiring process. Naghire sila ng magagaling and reputable managers. Umuuwi lang siya regularly if kailangan and may CCTV sila sa lahat ng stores, regular meetings, monitored din ang books nila. Nagwork naman for them kahit nasa abroad sila. So ang daming factors din talaga diba? Minsan nakakahilo 😅 Thanks for watching, Rogel! Sana mas marami pang OFW ang makapanood nito kung may balak sila magnegosyo. 😊

@roylabastida300 Жыл бұрын

Thank you po ma’am. I’m getting knowledge po about building up business. 🥰

@PausePraySimplify Жыл бұрын

Our pleasure Bro! Wereglad to be of help. 🙏 God bless the business you're setting up!!! 💪

@mariatheresasuan1908 Жыл бұрын

Touch ako 🙏🙏🙏 I am an OFW, recently umuwi ako to see how things will work for me if I retire/mag for good dito sa Pinas. Last night I had conversations with my sister, OFW din, we both came home just for vacation. She was telling me wag na bumalik and to settle here and do the airbnb business and she will help me start the business. That is my original plan when I came and saw the potential sa pinatayo naming bahay na naging "haunted house" kasi ayaw ng parents ko tumira sa sobrang laki at masyadong mahirap ang overall maintenance. I stumble upon your video while having coffee to start my day while searching for a DIY video on how to fix my overhead shower which was leaking. God has His reasons why I stumble upon your video and I cried at the end. This is how God is communicating with me, I believe. God bless po sa iyong channel and future endeavors. Ako din man ay gustong maging KZfaq vlogger 😅😅😅. Thank you so much for your video. New subscriber here 👋

@PausePraySimplify Жыл бұрын

Hello po! Hala grabe nakarating po kayo sa video na ito mula lang sa search ite sa pag-ayos ng shower. Praise God! God indeed works in mysterious ways. 🙏 I feel your pain po, which is what so many of our OFW friends are feeiling too. Perhaps you can still do something about your house -- for airbnb if your place is near tourism destinations. Baka pwede pa siya irepurpose para hindi masayang ang investment. But since it's your own house, medyo mahirap magdecide. Thank you po for watching and sharing a bit of your OFW life story. I hope mabless po kayo sa content dito. Salamat po ulit and God bless you as you plan for your future! 🙏🙏🙏

@LaGranja728 Жыл бұрын

Thank u po for this video.. mdjo mtgal n din po bgo kyo nkog-upload ulit about s gnitong topics.. Sna po more videos like this.. Sobrang dmi tips n nkukuha lalo n ng mga kapwa ko OFW's.. Im planning to stay in the Phil.for good kya po abangers tlga ko s mga tips frm u.. 😊😂

@PausePraySimplify Жыл бұрын

Hi Joana! Yes yes, medyo natagalan nga. Medyo nabusy kami sa construction business. Tinutulungan ko kasi husband ko. Pero for sure next week may regular videos na tayo ulit, Lord willing. I'm glad nakakatulong ang videos na ito. Hopefully, mas maraming OFWs pa ang matulungan. God bless your "for good" plans, Joana! May He guide you every step of the way as you prepare. Thanks for watching!😊

@LaGranja728 Жыл бұрын

Thank u 💓 po. God bless po..

@Arnaldsolas 4 ай бұрын

Thank you po 🙏🏼🙏🏼 planning to put up my own business sa pinas. Salamat po sa advices

@PausePraySimplify 4 ай бұрын

Wow!!! Congrats po in advance! May the LORD bless your business!

@lizbyahera6985 Жыл бұрын

❤❤❤

@MariaMaria-ws2jf Жыл бұрын

Hello. Thank you for sharing. This is a very good content. Could you share more knowledge about everyday accounting of a business, managing the net profit and all. Thank you.

@PausePraySimplify Жыл бұрын

Hi Maria! Naku pasensya na po hindi ako accountant kaya basic lang pwede ko mashare. Basically po, iaccount niyo lang lahat ng daily incomings like sales and yung expenses. Tally niyo lang siya, and do that every day. Tapos get the total by month end. You'll get your net income. Lagi pong nakahiwalay ang sales sa inyong personal money so you can better manage it. Marami ring accountants sa YT, for sure meron yan sila. Thank you po for watching! 😊

@kitssmart1209 Жыл бұрын

🙏🙏🙏

@genalynas3312 Жыл бұрын

Ganda ng speaking voice mo maam❤

@PausePraySimplify Жыл бұрын

Aw. Salamuch, Genalyn! Allergic nga ako pakinggan sarili ko eh 😅. Pero thanks for the kind words and thanks for watching! 😊

@ofwlifestyle7260 Жыл бұрын

We build our 4doors apartment during pandemic 2021 ,operational na for almost 1 year,during building the apartment ang panganay kong kapatid ang nag foresee Sa lahat although nakacontrata kailangan parin kasi ang magmonitor,I am so blessed na anjan lagi ang kapatid ko till now sya ang naging caretaker at front Sa lahat ng tenant namin pag May problema,wala kaming usapan Sa sahod kung bibigyan koba sya or hindi at si rin naman sya nag tatanong dahil wala pang isang taon ang apartment but I am planning to give atlist commission at the end of the year na di nya alam😊😊sya din kasi ang care taker Sa bahay namin na pinaupahan narin dahil wala naman nakatira nauna kasi yun na na build at yun ang sinabihan ko sya na bibigyan ko ng commission so far ok naman ang business,I would say na yes ang paupahan ang pinakasimple at pinakarelax na negosyo ng mga ofw,I have many ideas dami kong gusto na negosyo pero dahil andito pa kami ng pamilya ko so I concentrate muna sa apartment at kung paano pa madagdagan 😊😊😊thank you mam for always sharing long time viewers and subscriber mo po ako godbless

@PausePraySimplify Жыл бұрын

Hello kabayan! Wow praise God sa inyong kapatid for handling your business well! That's really good! May iba na umookay ang negosyo kapag iniwan sa kamag-anak, but sadly, may iba na hindi. Good that you belong to the former. Yes, agree ako na may compensation ang kapatid mo. That's really important. I hope matuwa talaga siya. God bless your apartment business even more! 😊

@solhoffmann7491 Жыл бұрын

@@PausePraySimplifyhindi lahat nagsa succeed ang negosyo kapag nasa abroad ang may ari. Like sa kilala ko dto meron din apartment na paupahan, at d end pinagbili nya apartment nya ng mura kc palagi daw sya nagpparepair tuwing uuwi sya.D q na massabi lahat story. Dto na lng sya sa Europe for good.Good luck po sa mga magbi business. God bless po.