We mentioned a lot of tips in the part 1 of this article which you can access it here. Part of the issues of financial management is the fact that start-up or new entrepreneurs need to raise sufficient cash to be able to start a business or expand one for that matter.
Click Here to Read More...
Showing posts with label Rich Mindset. Show all posts
Showing posts with label Rich Mindset. Show all posts
Thursday, 29 March 2012 19:09 Fernan Marasigan / Reporter
Comments: This interesting article was taken here. Spotting trends like this proves that it does not take money to take money, an explanation of this concept can be found in this previous article. There are websites that help generate positive & profitable ideas., one of those sites look like this. Pinoy Business Coach believes in the capability of the Filipino Entrepreneur!
Click Here to Read More...
Comments: This interesting article was taken here. Spotting trends like this proves that it does not take money to take money, an explanation of this concept can be found in this previous article. There are websites that help generate positive & profitable ideas., one of those sites look like this. Pinoy Business Coach believes in the capability of the Filipino Entrepreneur!
Click Here to Read More...
The original article can be read here. We, at Pinoy Business Coach believe that saving is start of any income generating activity (IGA), here is a sad story of a person who had a lot of money but did not have a good plan to save, read that article through this link. The term Pay Yourself First.is directly linked to saving, here is it's definition.
This article is from fr.www.mb.com.ph. Having lots of money does not make you Rich. Find out what can make your rich, click this link. To understand how money works, this site offers a lot of advise, read here now.
You might as well increase your chances of getting rich by starting and running a business, our articles can help you out.
MANILA, Philippines - For three months, Dionie Reyes (DR) - winner of P14,125,032 in the Lotto 6/42 draw on April 22, 2008 - lived the life of a millionaire, something he had been longing to experience.
Click Here to Read More...
You might as well increase your chances of getting rich by starting and running a business, our articles can help you out.
MANILA, Philippines - For three months, Dionie Reyes (DR) - winner of P14,125,032 in the Lotto 6/42 draw on April 22, 2008 - lived the life of a millionaire, something he had been longing to experience.
Click Here to Read More...
Last night, I had a great opportunity to watch "The Social Network" which is in my opinion an unauthorized biography of Marck Zuckerburg (hope I spelled it right), the leader of the team that built FACEBOOK. This great website phenomenon has certainly revolutionized the digital life of people in the planet. People talk about Facebook as if it were a necessity and that certainly is it's appeal.
Click Here to Read More...
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| Written by Dex McLuskey / Bloomberg |
| Thursday, 22 July 2010 20:14 | Manchester United is the richest team in sports, while Tiger Woods is the highest-earning athlete, according to Forbes magazine. English Premier League soccer team Manchester United is worth $1.84 billion and Woods, the top-ranked player in the world, earned $105 million in the year through June, Forbes said. |
Recently, my brother-in law and fellow blogger (author of Papyular.Com and Earning Student Blogsites) sent me a great offer from one of my favorite authors' RICH DAD website. It is offering BUSINESS AND INVESTING COACHING with the initial steps being free. I thought it was a hoax but decided to register anyway.
The primary information they are giving out to participants is great and powerful that I highly recommend that if you are really serious in developing that keen business sense of yours that you hurry up and sign up for this wild offer. The tools given by the RICH DAD website will enable the participant to understand the basic concepts of money, business and investing. It even has a toolbar where you can download files in different Microsoft Office programs; files that include a FINANCIAL STATEMENT, A DEBT MANAGEMENT STATEMENT, a FINANCIAL PLANNING TOOL, etc. It also will introduce you to becoming rich through your mind first by giving the lessons through power point slideshows that has an audio interface. It is really cool and makes you want to think about Robert Kiyosaki's Mission- to elevate the financial well-being of mankind and how sincere he is with fulfilling that mission.
Please check the website HERE. Click Here to Read More...
The primary information they are giving out to participants is great and powerful that I highly recommend that if you are really serious in developing that keen business sense of yours that you hurry up and sign up for this wild offer. The tools given by the RICH DAD website will enable the participant to understand the basic concepts of money, business and investing. It even has a toolbar where you can download files in different Microsoft Office programs; files that include a FINANCIAL STATEMENT, A DEBT MANAGEMENT STATEMENT, a FINANCIAL PLANNING TOOL, etc. It also will introduce you to becoming rich through your mind first by giving the lessons through power point slideshows that has an audio interface. It is really cool and makes you want to think about Robert Kiyosaki's Mission- to elevate the financial well-being of mankind and how sincere he is with fulfilling that mission.
Please check the website HERE. Click Here to Read More...
It does not take Money to MAKE Money
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If the lack or absence of capital is indeed the hindrance to starting your own enterprise then consider the following TRUE STORY:
In the year 2004 Mr. F, retired from his position as a Regional Manager of a Big Bank. As a reward for his long, hard years of service, the company offered him 17 Million pesos as a separation fee (yes,you heard it right- 17 Meelyuun).
Days after receiving this retirement fund, Mr. F, decided to buy one son a high end 4X4 Vehicle, which, if I can recall correctly, was a Brand New Mitsubishi Pajero (check the market price). For the purpose of appeasing sibling rivalry, he bought the younger son also another 4X4 Vehicle, which if I can recall correctly was a Toyota Hi-lux (check the market price). Mr. F also decided to build a 4 Million house, telling himself that it was high time for him to enjoy 'the good life'.
After constantly telling this to himself, one expensive expenditure led to another and the golf games became too many. This too lavish lifestyle took it's financial toll and ss of April 2009, Mr. F's savings have gone down amazingly from 17 Million in the year 2004 to merely just 300,000 pesos at the present time. This would have been a great scenario if the 16.7 Million pesos were exposed to investments and businesses that could have otherwise provided much cash flow to Mr.F's financial statements, but this has not happened. Simply put, Mr.F spent Php 9151.00 Pesos EVERYDAY since he received that huge amount of money.
Although Mr. F held a very reputable position in his bank, he has demonstrated 'poor' management of personal money, as evidenced by uncontrolled spending habits. His financial literacy was not at par with his golfing game, which he did more often and did better. This instant 'presence' of wealth went through the head and directly to the roof. Here is an individual who had tons of money, little financial understanding (regardless of age and experience) and who had no financial plan whatsoever.
This true account is one of those stories that makes you 'sigh' in disbelief. All that money placed in liabilities that go down in value day after day, month after month makes you want to think twice about the delusion that it takes money to make money. Click Here to Read More...
In the year 2004 Mr. F, retired from his position as a Regional Manager of a Big Bank. As a reward for his long, hard years of service, the company offered him 17 Million pesos as a separation fee (yes,you heard it right- 17 Meelyuun).
Days after receiving this retirement fund, Mr. F, decided to buy one son a high end 4X4 Vehicle, which, if I can recall correctly, was a Brand New Mitsubishi Pajero (check the market price). For the purpose of appeasing sibling rivalry, he bought the younger son also another 4X4 Vehicle, which if I can recall correctly was a Toyota Hi-lux (check the market price). Mr. F also decided to build a 4 Million house, telling himself that it was high time for him to enjoy 'the good life'.
After constantly telling this to himself, one expensive expenditure led to another and the golf games became too many. This too lavish lifestyle took it's financial toll and ss of April 2009, Mr. F's savings have gone down amazingly from 17 Million in the year 2004 to merely just 300,000 pesos at the present time. This would have been a great scenario if the 16.7 Million pesos were exposed to investments and businesses that could have otherwise provided much cash flow to Mr.F's financial statements, but this has not happened. Simply put, Mr.F spent Php 9151.00 Pesos EVERYDAY since he received that huge amount of money.
Although Mr. F held a very reputable position in his bank, he has demonstrated 'poor' management of personal money, as evidenced by uncontrolled spending habits. His financial literacy was not at par with his golfing game, which he did more often and did better. This instant 'presence' of wealth went through the head and directly to the roof. Here is an individual who had tons of money, little financial understanding (regardless of age and experience) and who had no financial plan whatsoever.
This true account is one of those stories that makes you 'sigh' in disbelief. All that money placed in liabilities that go down in value day after day, month after month makes you want to think twice about the delusion that it takes money to make money. Click Here to Read More...
Written by Free Enterprise / George S. Chua
Tuesday, 07 April 2009 18:57
TO MOST people, being an entrepreneur would not even have crossed their minds. After all, who in their right minds would rather come up with the money to give a payroll than to be in it?
This is particularly more so in our society where being a paid professional in a large company is looked upon with much higher regard than just being self-employed. Our government, both local and national, and government agencies like the Bureau of Internal Revenue, the labor department, Social Security System, Pag-Ibig and PhilHealth also make it difficult for an aspiring entrepreneur to go through the process of securing all the permits and licenses to start a business and even more so in complying with the regular reportorial requirements, making regular payments and meeting all the deadlines, not to mention being subjected to all kinds of examinations by a myriad of agencies.
Of course, there are a host of other hurdles in being an entrepreneur. Most people do not even have the money or cannot raise the money to be able to start and run a business. Being an entrepreneur also requires a certain level of management skill, which, again, not everyone has or can be trained for.
An employee works for eight hours and has sick and vacation leave entitlements. An entrepreneur works as long as it needs to get it done even when he is sick, and a vacation is a luxury most start-up entrepreneurs will not be able to afford for a while. Is it any wonder that few dare consider being an entrepreneur?
However, having said all that, should we totally turn our backs to becoming an entrepreneur? Perhaps not, if the conditions are right.
In the Philippines, most entrepreneurs are self-employed individuals without any emplo-yees and this is not what I have in mind. I am talking about setting up a business that has the potential not only to provide you with a livelihood, but a real opportunity in employing a lot of other people and making yourself truly wealthy in the process. If you can do this, you will have truly become a free man, where you work for no one but yourself.
What are the right conditions that would make it worthwhile for someone to consider being an entrepreneur? These are the idea, investment funding, incentive and an inside track. Starting a business means that you need to have an idea of what you want to go into. Of course, this idea must be sound and has a fighting chance to succeed. It would also be nice if the business you are planning to go into is something that interests you, as well.
Investment funding either by using your own capital or sourcing funds from other equity sources or loans is needed to get the business off the ground. Without the capital to start the business, this is just a dream. Hopefully, you would have been smart and fortunate enough to have saved some money for an opportunity like this.
Knowing where and how to get additional funds by attracting people to the viability of your business idea is critical when you have limited funds to start up the business.
Going into your own business with the right idea and funding will only happen if you have the right incentive to do it. Among the most popular incentives for people to go into their own business is dissatisfaction with their salaried jobs. Dissatisfaction could stem from not liking their work, office mates, boss or too much work, too much pressure or simply just burnout.
Of course, losing your job will also force you to take a closer look at taking things into your own hands. Pressure to earn more, family considerations, dreams of greatness and thoughts of mortality could push people out of their comfort zone and into entrepreneurship.
Having an inside track or an advantageous competitive position could be the final push needed to cross the line. This inside track could be due to your training, work experience, circle of friends, family ties or just an amazing opportunity that happens to come your way. With this additional edge, your chance to be a successful entrepreneur could be greatly enhanced, reducing the risk you will have to take to an acceptable level that you would be foolish not to take it.
Waiting for a great opportunity to come your way may leave you waiting forever, which is why, sometimes, we have to make our own opportunities. There is nothing wrong with being an employee, you can have pretty much everything if you end up with the right job for you. Enough money to buy an elegant home, have nice cars, send your kids to the best schools, live and travel well, and have more than enough to retire on.
However, sometimes the desire to be and do more overwhelms us and this is when it might be the right time to visit entrepreneurship. For the Philippines to move up economically, more people will need to become businessmen, maybe you can be the next hero our country needs.
*There is a theory that says that difficult things upon initiation have a great tendency to become EASY in the long run while doing easy things usually end up become DIFFICULT in the long run. Take the case of the Entrepreneur who suffers quite a bit in the setting up of a good business plan and later becomes successful in all aspect. It will be worth it! Click Here to Read More...
Tuesday, 07 April 2009 18:57
TO MOST people, being an entrepreneur would not even have crossed their minds. After all, who in their right minds would rather come up with the money to give a payroll than to be in it?
This is particularly more so in our society where being a paid professional in a large company is looked upon with much higher regard than just being self-employed. Our government, both local and national, and government agencies like the Bureau of Internal Revenue, the labor department, Social Security System, Pag-Ibig and PhilHealth also make it difficult for an aspiring entrepreneur to go through the process of securing all the permits and licenses to start a business and even more so in complying with the regular reportorial requirements, making regular payments and meeting all the deadlines, not to mention being subjected to all kinds of examinations by a myriad of agencies.
Of course, there are a host of other hurdles in being an entrepreneur. Most people do not even have the money or cannot raise the money to be able to start and run a business. Being an entrepreneur also requires a certain level of management skill, which, again, not everyone has or can be trained for.
An employee works for eight hours and has sick and vacation leave entitlements. An entrepreneur works as long as it needs to get it done even when he is sick, and a vacation is a luxury most start-up entrepreneurs will not be able to afford for a while. Is it any wonder that few dare consider being an entrepreneur?
However, having said all that, should we totally turn our backs to becoming an entrepreneur? Perhaps not, if the conditions are right.
In the Philippines, most entrepreneurs are self-employed individuals without any emplo-yees and this is not what I have in mind. I am talking about setting up a business that has the potential not only to provide you with a livelihood, but a real opportunity in employing a lot of other people and making yourself truly wealthy in the process. If you can do this, you will have truly become a free man, where you work for no one but yourself.
What are the right conditions that would make it worthwhile for someone to consider being an entrepreneur? These are the idea, investment funding, incentive and an inside track. Starting a business means that you need to have an idea of what you want to go into. Of course, this idea must be sound and has a fighting chance to succeed. It would also be nice if the business you are planning to go into is something that interests you, as well.
Investment funding either by using your own capital or sourcing funds from other equity sources or loans is needed to get the business off the ground. Without the capital to start the business, this is just a dream. Hopefully, you would have been smart and fortunate enough to have saved some money for an opportunity like this.
Knowing where and how to get additional funds by attracting people to the viability of your business idea is critical when you have limited funds to start up the business.
Going into your own business with the right idea and funding will only happen if you have the right incentive to do it. Among the most popular incentives for people to go into their own business is dissatisfaction with their salaried jobs. Dissatisfaction could stem from not liking their work, office mates, boss or too much work, too much pressure or simply just burnout.
Of course, losing your job will also force you to take a closer look at taking things into your own hands. Pressure to earn more, family considerations, dreams of greatness and thoughts of mortality could push people out of their comfort zone and into entrepreneurship.
Having an inside track or an advantageous competitive position could be the final push needed to cross the line. This inside track could be due to your training, work experience, circle of friends, family ties or just an amazing opportunity that happens to come your way. With this additional edge, your chance to be a successful entrepreneur could be greatly enhanced, reducing the risk you will have to take to an acceptable level that you would be foolish not to take it.
Waiting for a great opportunity to come your way may leave you waiting forever, which is why, sometimes, we have to make our own opportunities. There is nothing wrong with being an employee, you can have pretty much everything if you end up with the right job for you. Enough money to buy an elegant home, have nice cars, send your kids to the best schools, live and travel well, and have more than enough to retire on.
However, sometimes the desire to be and do more overwhelms us and this is when it might be the right time to visit entrepreneurship. For the Philippines to move up economically, more people will need to become businessmen, maybe you can be the next hero our country needs.
*There is a theory that says that difficult things upon initiation have a great tendency to become EASY in the long run while doing easy things usually end up become DIFFICULT in the long run. Take the case of the Entrepreneur who suffers quite a bit in the setting up of a good business plan and later becomes successful in all aspect. It will be worth it! Click Here to Read More...
Early in my business life, a mentor shared his definition of SUCCESS and it was something that went like this: "Success is the fulfillment of worthwhile pre-determined goals." The definition of SUCCESS is important and vital for an individual since it will determine by large how one will measure it.
Most of us, consider success as monetary in value or something that is associated with having much money. That is only one side of the definition of SUCCESS, if you go back to my mentor's definition you will not find a word that is linked to having tons of money and yet it is very clear as to how he will measure his own success.
It would be a little weird if we account our success to having much money since this would mean that the Entrepreneur has run out of ideas on how to let his money circulate in ventures that would create more. Remember that the money we have today is actually a 'currency', from the root word 'current', it must needs circulate or it would die.
Some of us may have heard of comments like this: "Magnenegosyo lang ako kung malaki na ang aking capital!" Again, it boils down to how you define success. The business inertia that stops us from doing and getting into planning, starting and building your own enterprise is very hard to overcome and in my book, I would greatly consider that a great success in the part of the individual.
On the other side of the coin, if I see a business person having too much money in his hands, I would consider that individual as someone who has stunted growth financially since having too much cash on hand will usually mean that one is running out of good business ideas. And what does such an individual do? Buys useless 'doodads', toys or liabilities like a new car, expensive camera etc..Not that these things are bad but they need to be purchased in the right perspective and not as a means to illustrate being 'successful.'
Well, what are you waiting for? Retreat and meditate on the word Success and what it means to you. Click Here to Read More...
Most of us, consider success as monetary in value or something that is associated with having much money. That is only one side of the definition of SUCCESS, if you go back to my mentor's definition you will not find a word that is linked to having tons of money and yet it is very clear as to how he will measure his own success.
It would be a little weird if we account our success to having much money since this would mean that the Entrepreneur has run out of ideas on how to let his money circulate in ventures that would create more. Remember that the money we have today is actually a 'currency', from the root word 'current', it must needs circulate or it would die.
Some of us may have heard of comments like this: "Magnenegosyo lang ako kung malaki na ang aking capital!" Again, it boils down to how you define success. The business inertia that stops us from doing and getting into planning, starting and building your own enterprise is very hard to overcome and in my book, I would greatly consider that a great success in the part of the individual.
On the other side of the coin, if I see a business person having too much money in his hands, I would consider that individual as someone who has stunted growth financially since having too much cash on hand will usually mean that one is running out of good business ideas. And what does such an individual do? Buys useless 'doodads', toys or liabilities like a new car, expensive camera etc..Not that these things are bad but they need to be purchased in the right perspective and not as a means to illustrate being 'successful.'
Well, what are you waiting for? Retreat and meditate on the word Success and what it means to you. Click Here to Read More...
In the past few days, I have been thinking about the word Rich and the context that we, Filipinos place it in. With the poor job that the media (especially Philippine TV) is doing in elevating the mindset of our countrymen, we always see Game shows that involve money being given in large quantities and the concept of getting money into one's hands in a very easy way. These values beset the current generation's attitudes towards money and if this is not tempered, will be transferred to our children's psyche.
It is very common knowledge nowadays that one is deemed rich if one has lots of money. But is this really the only qualification that one needs to be classified 'Rich'. Better yet, is the MERE POSSESSION of money, the only criteria for being Rich?
Not quite. Others have neglected to see that the Rich are also full of bright ideas IN ADDITION TO having money. The Rich are smart and do things in a certain way that produces good financial results, IN ADDITION TO having money. The Rich plan better and have written life goals, IN ADDITION to having money. The Rich think abundantly despite scarce resources, IN ADDITION to having money. The Rich manage finances very well and has lots of LUCK (Labor Under Correct Knowledge), IN ADDITION to having money.
If you haven't realized it yet, money is just AN ADDITION to the Rich Person's mind, action, speech and thinking. It is not money alone that qualifies one to become Rich. One can have lots of money but still think like a POOR person. I am sure that if you trailed the people who won tons of money in WOWOWEE or any game show, most of them if not all have already lost that money and have not put it to good use.
Being Rich starts with the MIND. It is a mindset that is acted in our internal dialogue with ourselves and in the handling of our very own finances. The definition of RICH is therefore not exlusive to the mere possession of money alone. Click Here to Read More...
It is very common knowledge nowadays that one is deemed rich if one has lots of money. But is this really the only qualification that one needs to be classified 'Rich'. Better yet, is the MERE POSSESSION of money, the only criteria for being Rich?
Not quite. Others have neglected to see that the Rich are also full of bright ideas IN ADDITION TO having money. The Rich are smart and do things in a certain way that produces good financial results, IN ADDITION TO having money. The Rich plan better and have written life goals, IN ADDITION to having money. The Rich think abundantly despite scarce resources, IN ADDITION to having money. The Rich manage finances very well and has lots of LUCK (Labor Under Correct Knowledge), IN ADDITION to having money.
If you haven't realized it yet, money is just AN ADDITION to the Rich Person's mind, action, speech and thinking. It is not money alone that qualifies one to become Rich. One can have lots of money but still think like a POOR person. I am sure that if you trailed the people who won tons of money in WOWOWEE or any game show, most of them if not all have already lost that money and have not put it to good use.
Being Rich starts with the MIND. It is a mindset that is acted in our internal dialogue with ourselves and in the handling of our very own finances. The definition of RICH is therefore not exlusive to the mere possession of money alone. Click Here to Read More...
If there is anything that is emotionally charged in this world, it would have to be the thing that we call Money.
Technically speaking, Money is different from Currency. Money is a medium of exchange possessing in itself an intrinsic value. Currency is the paper that our government prints out that represents (note the word)value, in the case of the US and the Philippines, it can be something as intangible as 'trust' or the 'goodwill' of it's people. Currency comes from the root word 'current', it must continue to move or it will become extinct.
Is having to much currency the solution to every problem? Is the mere possession of currency qualify one to become rich ?
Take for instance famous & high paid movie stars, boxers or athletes. We can often hear stories about the glory days and eventually the 'riches to rags' stories.
The answer to both queries is NO. Having too much currency is in fact disadvantageous since it has the tendency to lead the individual to what I call, 'imagination paralysis.' Based on experience and from the experience of others, having too much currency can cause financial IQs to go down.
A rich mindset is developed through experience, following a small steady plan of self-education and application and having the willingness to go through the ups and downs of a business and knowing to ride waves. The process of getting rich starts in one's own mind and does not start in the pockets. The process of knowing how to make money will help one become truly wealthy Click Here to Read More...
Technically speaking, Money is different from Currency. Money is a medium of exchange possessing in itself an intrinsic value. Currency is the paper that our government prints out that represents (note the word)value, in the case of the US and the Philippines, it can be something as intangible as 'trust' or the 'goodwill' of it's people. Currency comes from the root word 'current', it must continue to move or it will become extinct.
Is having to much currency the solution to every problem? Is the mere possession of currency qualify one to become rich ?
Take for instance famous & high paid movie stars, boxers or athletes. We can often hear stories about the glory days and eventually the 'riches to rags' stories.
The answer to both queries is NO. Having too much currency is in fact disadvantageous since it has the tendency to lead the individual to what I call, 'imagination paralysis.' Based on experience and from the experience of others, having too much currency can cause financial IQs to go down.
A rich mindset is developed through experience, following a small steady plan of self-education and application and having the willingness to go through the ups and downs of a business and knowing to ride waves. The process of getting rich starts in one's own mind and does not start in the pockets. The process of knowing how to make money will help one become truly wealthy Click Here to Read More...
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