Showing posts with label Financial Literacy. Show all posts
Showing posts with label Financial Literacy. Show all posts
Let's face it. Our school system is just not adequate to prepare our children to accumulate wealth and riches. The wealth of information in our schools are not able to place kids on the road to prosperity. They are given redundant assignments that border between the silly and the naive.
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From: www.entrebank.ph (edited by PINOYBUSINESS COACH)
The MANNY PACQUIAO BUSINESS machine is not solely in boxing but is diversified into a portfolio. Not only is he a successful boxer worth to be emulated but he is also becoming one of the most successful Filipino businessmen today. This post lists what I think is the 10 well-known Manny Pacquiao’s business interest today:
1. Raising Fighting Cocks – The diversity of Manny Pacquiao's Business interest includes the raising and distribution of hundreds of little ring gladiators that are found in almost all Philippine big derbies and World Slasher Derbies today.
2. Recording Artist — Courtesy of Composer Lito Camo, the launching of his album featuring the hit song“Para Sa Iyo”, dedicated to his countrymen was an instant success. The Manny Pacquiao business interest also includes passive income from the royalties of songs.
3. Retailing – his stores may not be like SM or HANDYMAN, but the MANNY PACQUIAO BUSINESS machine includes giving employment to the local people of General Santos City.
4. Film Production – Orchestrating the making of the film “Anak ni Kumander” where he carries the lead role, the MANNY PACQUIAO BUSINESS machine includes earnings from TV hostings, appearances and acting.
5. Product Endorsments – Earnings from endorsments of many known products and services guarantees a stream of income for the MANNY PACQUIAO BUSINESS machine. Some of these products are: San Miguel beer, Magnolia ice cream, Talk N Text, Alaxan FR, McDonalds, Motolite, Café Puro coffee.
6. Basketball Team Management – the General Santos City Basketball Team is sponsored by the MANNY PACQUIAO BUSINESS machine.
7. Boxing Fight Promotions – Manny Pacquiao Promotions promotes boxing fights and other entertaining shows here in the Philippines and abroad. His first boxing promotion was in partnership with the in San Diego, California, USA, featuring Mexican fighters against Filipino ring gladiators.
8. Talent Management – In the place where the L&M Gym stands, where he honed his boxing abilities, the MANNY PACQUIAO BUSINESS machine is constantly seeking for new talents and managing their careers. Also a gym is in place at Cebu City which is run by promoter WAKEE SALUD.
9. Education – Out of his busy schedule, Manny believes that Money follows Management and attends Notre Dame University in South Cotabato where he is a Business Management student.
10. BRAND DEVELOPMENT – Not only is he the best pound for pound boxer in the world, Manny continues to add value to his name. This fighting pride of in his coming fight with Miguel Cotto, will continue to add value to that brand whether win or lose.
MANNY PACQUIAO'S BUSINESS INTEREST should inspire every Filipino that entrepreneurship is the way to go. We thank www.entrebankph.com for the source of this article entitled "10 Well-known MANNY PACQUIAO BUSINESS INTEREST". Click Here to Read More...
The MANNY PACQUIAO BUSINESS machine is not solely in boxing but is diversified into a portfolio. Not only is he a successful boxer worth to be emulated but he is also becoming one of the most successful Filipino businessmen today. This post lists what I think is the 10 well-known Manny Pacquiao’s business interest today:
1. Raising Fighting Cocks – The diversity of Manny Pacquiao's Business interest includes the raising and distribution of hundreds of little ring gladiators that are found in almost all Philippine big derbies and World Slasher Derbies today.
2. Recording Artist — Courtesy of Composer Lito Camo, the launching of his album featuring the hit song“Para Sa Iyo”, dedicated to his countrymen was an instant success. The Manny Pacquiao business interest also includes passive income from the royalties of songs.
3. Retailing – his stores may not be like SM or HANDYMAN, but the MANNY PACQUIAO BUSINESS machine includes giving employment to the local people of General Santos City.
4. Film Production – Orchestrating the making of the film “Anak ni Kumander” where he carries the lead role, the MANNY PACQUIAO BUSINESS machine includes earnings from TV hostings, appearances and acting.
5. Product Endorsments – Earnings from endorsments of many known products and services guarantees a stream of income for the MANNY PACQUIAO BUSINESS machine. Some of these products are: San Miguel beer, Magnolia ice cream, Talk N Text, Alaxan FR, McDonalds, Motolite, Café Puro coffee.
6. Basketball Team Management – the General Santos City Basketball Team is sponsored by the MANNY PACQUIAO BUSINESS machine.
7. Boxing Fight Promotions – Manny Pacquiao Promotions promotes boxing fights and other entertaining shows here in the Philippines and abroad. His first boxing promotion was in partnership with the in San Diego, California, USA, featuring Mexican fighters against Filipino ring gladiators.
8. Talent Management – In the place where the L&M Gym stands, where he honed his boxing abilities, the MANNY PACQUIAO BUSINESS machine is constantly seeking for new talents and managing their careers. Also a gym is in place at Cebu City which is run by promoter WAKEE SALUD.
9. Education – Out of his busy schedule, Manny believes that Money follows Management and attends Notre Dame University in South Cotabato where he is a Business Management student.
10. BRAND DEVELOPMENT – Not only is he the best pound for pound boxer in the world, Manny continues to add value to his name. This fighting pride of in his coming fight with Miguel Cotto, will continue to add value to that brand whether win or lose.
MANNY PACQUIAO'S BUSINESS INTEREST should inspire every Filipino that entrepreneurship is the way to go. We thank www.entrebankph.com for the source of this article entitled "10 Well-known MANNY PACQUIAO BUSINESS INTEREST". Click Here to Read More...
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...
Another aspect of Time Utilization and Money as it relates to business success is that of how one spends leisure time. Financial education is a must for bustling entrepreneurs and can be likened to riding a bike.
Let us say for example you are interested to learn how to ride a bike. First step naturally would be to read about literature on how to ride a bike. After getting the basics down, you try to get on a real bike to test the theory behind it. After a few applications and a few bumps here and there you decide to ask help from a cousin of yours who knows how to expertly ride a bike and with a few practice sessions, you become better at it. The same is true in business-- Reading about the literature, finding a mentor and applying the principles are crucial to the learning process, but if one spends most of his/her time in entertainment instead of gathering and learning business concepts and trying them out, the odds against success increases.
Financial education needs a separate time allotment and chances are, if you are employed and starting a business on the side then it would be wise to use spare time efficiently by learning all you can about business. This can be a difficult choice to make especially in a world that is full of entertainment options. There is a theory that if you decide to take on difficult options NOW, the process tends to become easier whereas, having an easy life now would most certainly yield a difficult one LATER on. Or in other words, that which is easy becomes difficult LATER ON and that which is difficult becomes easy LATER ON. It's your choice.
Another aspect of Time in relation to Money is the choosing of worthwhile advisers. When we mention about financial education, it would be wise to choose authors that are credible and have real life business or investing experience. It would be futile to grab every book that talks about business. Not everyone who writes about business knows what is actually going on in real life scenarios. It would save you much more time if you could go to sources that can give good, actual and worthwhile advice and find mentors who are actually succeeding in the field of business. It would be a great waste of time if you follow advice from people or authors that do not have real life experience because in essence, you become a guinea pig of sorts. Click Here to Read More...
Let us say for example you are interested to learn how to ride a bike. First step naturally would be to read about literature on how to ride a bike. After getting the basics down, you try to get on a real bike to test the theory behind it. After a few applications and a few bumps here and there you decide to ask help from a cousin of yours who knows how to expertly ride a bike and with a few practice sessions, you become better at it. The same is true in business-- Reading about the literature, finding a mentor and applying the principles are crucial to the learning process, but if one spends most of his/her time in entertainment instead of gathering and learning business concepts and trying them out, the odds against success increases.
Financial education needs a separate time allotment and chances are, if you are employed and starting a business on the side then it would be wise to use spare time efficiently by learning all you can about business. This can be a difficult choice to make especially in a world that is full of entertainment options. There is a theory that if you decide to take on difficult options NOW, the process tends to become easier whereas, having an easy life now would most certainly yield a difficult one LATER on. Or in other words, that which is easy becomes difficult LATER ON and that which is difficult becomes easy LATER ON. It's your choice.
Another aspect of Time in relation to Money is the choosing of worthwhile advisers. When we mention about financial education, it would be wise to choose authors that are credible and have real life business or investing experience. It would be futile to grab every book that talks about business. Not everyone who writes about business knows what is actually going on in real life scenarios. It would save you much more time if you could go to sources that can give good, actual and worthwhile advice and find mentors who are actually succeeding in the field of business. It would be a great waste of time if you follow advice from people or authors that do not have real life experience because in essence, you become a guinea pig of sorts. Click Here to Read More...
By Darwin G. Amojelar, Senior Reporter Manila Times
PHILIPPINE retailers on Thursday declared that the “worst is over” for them since they expect moderate growth this year and a possible recovery next year, citing strong overseas Filipino workers’ (OFWs) remittances and growth in the business process outsourcing (BPO) and tourism sectors.
At the sidelines of the 18th National Retail Conference, Jorge Mendiola, chairman of Philippine Retailers Association, said that the retail industry is expected to grow at a high single digit growth this year.
In 2008, the whole industry grew between 2 percent and 3 percent, Mendiola added.
The retail sector contributes an average of 12 percent to 15 percent to the country’s Gross Domestic Product (GDP) and is one of the country’s biggest employers. GDP is the total value of goods and services produced in a country in a year.
Frederick Go, the retailer conference overall chairman and president of Robinson Land Corp., said that the “worst is over” for the industry. “The industry was hard hit 18 months ago, but things are looking up. The industry would be doing quite well in the next 12 months.”
Mendiola and Go said that the growth would be driven by the strong remittances from Filipino migrant workers as well as growth in the business outsourcing and tourism sectors.
“These industries [outsourcing and tourism] have a lot room for growth and both are stable industries that have been contributing to the growth in the economy for the last few years, and we expect these factors to continue being the driver of the economy in the near future,” they added.
According to Mendiola, remittances from overseas Filipinos continued to flow, helping support consumer spending.
The Bangko Sentral ng Pilipinas (BSP) reported that remittances from overseas Filipinos for January to May reached $6.98 billion.
Opportunities from tourism
The passage of the Tourism Act of 2009, Mendiola said, also created fresh opportunities for retailers. “Tourism and retailing are closely allied and the Tourism Act will be a boon to both industries.”
The Department of Tourism earlier reported that tourist arrivals reached close to four million during the first semester of 2009 despite the global financial crisis and the swine flu scare.
Mendiola noted that consumers have also adjusted to the crisis.
“Consumers have begun to buy wisely, cautiously, most keen on value-for-money purchases,” he said.
Rowena Tomeldan, Ayala Malls Group’s vice president and deputy group head, said that most of the major retailers still experience moderate growth in traffic and sales despite the weak economic growth.
“Shopping continues to be part of the Filipino lifestyle and shoppers will continue to patronize your shops,” Tomeldan added.
She said that shoppers are still buying, but there have been shifts in their behavior, being more into comparative shopping and patronizing brands that have a solid track record.
Tomeldan added that much of the remittances from overseas Filipinos goes to consumer spending. “The opportunity lies in looking at market niches and segments that will buy and be loyal to your products.”
Growth seen
Go expects store sales in Robinson malls to grow by 8 percent this year.
“I think the worst is over. I think consumer confidence has recovered,” he said. “That is why we eagerly await 2010, when we, economists and experts forecast a recovery, hopeful that prospects will turn for the better.”
Mendiola, who also the senior vice president for operations of SM Shoemart Inc., expects his company to post double-digit growth in sales from opening of new malls nationwide.
Last year, he said, SM sales grew about 7 percent despite the first-half marginal growth.
For the whole industry, Mendiola said that sales are likely to grow double digit by 2010 as the economy is expected to recover.
With report from Chino S. Leyco
*An article that encourages business people engaged in retailing. Click Here to Read More...
PHILIPPINE retailers on Thursday declared that the “worst is over” for them since they expect moderate growth this year and a possible recovery next year, citing strong overseas Filipino workers’ (OFWs) remittances and growth in the business process outsourcing (BPO) and tourism sectors.
At the sidelines of the 18th National Retail Conference, Jorge Mendiola, chairman of Philippine Retailers Association, said that the retail industry is expected to grow at a high single digit growth this year.
In 2008, the whole industry grew between 2 percent and 3 percent, Mendiola added.
The retail sector contributes an average of 12 percent to 15 percent to the country’s Gross Domestic Product (GDP) and is one of the country’s biggest employers. GDP is the total value of goods and services produced in a country in a year.
Frederick Go, the retailer conference overall chairman and president of Robinson Land Corp., said that the “worst is over” for the industry. “The industry was hard hit 18 months ago, but things are looking up. The industry would be doing quite well in the next 12 months.”
Mendiola and Go said that the growth would be driven by the strong remittances from Filipino migrant workers as well as growth in the business outsourcing and tourism sectors.
“These industries [outsourcing and tourism] have a lot room for growth and both are stable industries that have been contributing to the growth in the economy for the last few years, and we expect these factors to continue being the driver of the economy in the near future,” they added.
According to Mendiola, remittances from overseas Filipinos continued to flow, helping support consumer spending.
The Bangko Sentral ng Pilipinas (BSP) reported that remittances from overseas Filipinos for January to May reached $6.98 billion.
Opportunities from tourism
The passage of the Tourism Act of 2009, Mendiola said, also created fresh opportunities for retailers. “Tourism and retailing are closely allied and the Tourism Act will be a boon to both industries.”
The Department of Tourism earlier reported that tourist arrivals reached close to four million during the first semester of 2009 despite the global financial crisis and the swine flu scare.
Mendiola noted that consumers have also adjusted to the crisis.
“Consumers have begun to buy wisely, cautiously, most keen on value-for-money purchases,” he said.
Rowena Tomeldan, Ayala Malls Group’s vice president and deputy group head, said that most of the major retailers still experience moderate growth in traffic and sales despite the weak economic growth.
“Shopping continues to be part of the Filipino lifestyle and shoppers will continue to patronize your shops,” Tomeldan added.
She said that shoppers are still buying, but there have been shifts in their behavior, being more into comparative shopping and patronizing brands that have a solid track record.
Tomeldan added that much of the remittances from overseas Filipinos goes to consumer spending. “The opportunity lies in looking at market niches and segments that will buy and be loyal to your products.”
Growth seen
Go expects store sales in Robinson malls to grow by 8 percent this year.
“I think the worst is over. I think consumer confidence has recovered,” he said. “That is why we eagerly await 2010, when we, economists and experts forecast a recovery, hopeful that prospects will turn for the better.”
Mendiola, who also the senior vice president for operations of SM Shoemart Inc., expects his company to post double-digit growth in sales from opening of new malls nationwide.
Last year, he said, SM sales grew about 7 percent despite the first-half marginal growth.
For the whole industry, Mendiola said that sales are likely to grow double digit by 2010 as the economy is expected to recover.
With report from Chino S. Leyco
*An article that encourages business people engaged in retailing. Click Here to Read More...
Perspective
Written by PETER BREGMAN
Monday, 20 July 2009 01:36
Every time I ask a roomful of executives to list the five moments their careers leapt forward, a story of failure always makes the cut. For some this involved the loss of a job. For others it was the failure of a larger system, like an economic downturn, that required them to step up. Yet most of us spend tremendous effort trying to avoid situations that could lead to failure.
According to Stanford University professor Carol Dweck, we have a mind-set problem. She has done extensive research in order to understand why certain people give up in the face of adversity—or evade it altogether—while others strive to overcome it.
If you believe that your talents are inborn or fixed, then you will try to avoid failure at all costs because setbacks are proof of your limitations. People with fixed mind-sets like to solve the same problems over and over again. Children with fixed mind-sets would rather redo an easy jigsaw puzzle than try a harder one.
But if you believe your talent can grow with persistence and effort, then you seek out failure as an opportunity to improve. People with a growth mind-set feel smart when they’re learning, not when they’re flawless.
Michael Jordan has a growth mind-set. Most successful people do. In high school he was cut from the basketball team, yet he learned how to leverage failure in order to succeed: “I’ve missed more than 9,000 shots in my career; I’ve lost almost 300 games. Twenty-six times I’ve been trusted to take the game-wining shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”
A growth mind-set is the secret to maximizing potential. Want to develop your staff’s skills? Give them tasks above their ability. Tell them you expect them to struggle, that it will take more time than their familiar responsibilities, and that you expect they’ll make some mistakes along the way. But you know they can do it.
Want to increase your own performance? Set high goals that you only have a 50 to 70 percent chance of attaining. Then, when you fail, figure out what you should do differently and try again. That’s practice. And according to recent studies, 10,000 hours of practice will make you an expert at anything—no matter where you start.
*A very interesting article which is related to building your own business, your failure threshold which is part of your emotional make-up is one of the key factors within the mind that you can develop. Click Here to Read More...
Written by PETER BREGMAN
Monday, 20 July 2009 01:36
Every time I ask a roomful of executives to list the five moments their careers leapt forward, a story of failure always makes the cut. For some this involved the loss of a job. For others it was the failure of a larger system, like an economic downturn, that required them to step up. Yet most of us spend tremendous effort trying to avoid situations that could lead to failure.
According to Stanford University professor Carol Dweck, we have a mind-set problem. She has done extensive research in order to understand why certain people give up in the face of adversity—or evade it altogether—while others strive to overcome it.
If you believe that your talents are inborn or fixed, then you will try to avoid failure at all costs because setbacks are proof of your limitations. People with fixed mind-sets like to solve the same problems over and over again. Children with fixed mind-sets would rather redo an easy jigsaw puzzle than try a harder one.
But if you believe your talent can grow with persistence and effort, then you seek out failure as an opportunity to improve. People with a growth mind-set feel smart when they’re learning, not when they’re flawless.
Michael Jordan has a growth mind-set. Most successful people do. In high school he was cut from the basketball team, yet he learned how to leverage failure in order to succeed: “I’ve missed more than 9,000 shots in my career; I’ve lost almost 300 games. Twenty-six times I’ve been trusted to take the game-wining shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”
A growth mind-set is the secret to maximizing potential. Want to develop your staff’s skills? Give them tasks above their ability. Tell them you expect them to struggle, that it will take more time than their familiar responsibilities, and that you expect they’ll make some mistakes along the way. But you know they can do it.
Want to increase your own performance? Set high goals that you only have a 50 to 70 percent chance of attaining. Then, when you fail, figure out what you should do differently and try again. That’s practice. And according to recent studies, 10,000 hours of practice will make you an expert at anything—no matter where you start.
*A very interesting article which is related to building your own business, your failure threshold which is part of your emotional make-up is one of the key factors within the mind that you can develop. Click Here to Read More...
There has been large amounts of media coverage regarding the Legacy investment scandal and I am sure that we know someone (if not us) who has in a way been entangled with this scandal who lost tons of money.
Even here in the western tip of the Philippines, angry citizens continue to scorn and 'pretend' to go after the Legacy group so as to get their money back. I use the word pretend since knowing the judicial system in the Philippines plus the corporate clout which the owners of Legacy can always blanket themselves in, the pursuance of such an endeavor becomes .. a dream.
Lessons of the Legacy investment:
LESSON NO. 1- IF THE OFFER IS TOO GOOD TO BE TRUE, THEN IT IS.
The double your money scheme worked out in the beginning to it's first patrons but in the long run this kind of leverage is self defeating. As funds continuously came in, corporate heads became to greedy and sidetracked people's money into non-performing assets and doodads..
LESSON NO. 2- ABDICATION INVESTING IS DANGEROUS.
Abdication is just a big word that means delegating irresponsibly. In any investment, the investor is required to do his part to look at the details on how the money is used, where it is going and why it is able to produce a 20% per annum return. (Double your money in 5 years is essentially 20% per annum in interest)
LESSON NO. 3- THE R.O.I IS JUST ONE OF THE BASIS FOR INVESTING
Naive people pooled their money to Legacy without thinking further and worse, without even thinking at all. Just because they were promised that their money would double in 5 years, citizens began pouring their life long savings into the fund. Other questions should include:
1. Who is incharge of the fund ? - Berkshire has Buffet, PLDT has Pangilinan, Globe has Ayala, SM Holdings has Henry Sy.
2. What is the track record of the one in charge of the fund ?
3. Who is on the management team of the one handling the investment?
4. Are they trustworthy?
Being a businessman myself, I can realistically say that while there are many endeavors that yield superior results, there are also tons of such endeavors that do not give as promising yields. It takes a great mind to see such opportunities, and the people in possession of such minds are getting scarce.
LESSON NO. 4- DOCUMENTATION IS IMPORTANT
It is my prediction that the smaller few that will be able to get back a big percentage of their investments in Legacy are those who kept track of every Official Receipt, photocopied each transaction, kept every personal records, bank receipts etc..
LESSON NO. 5- QUESTION GROUP THINK
Group think was coined as the general perception of the population on what is 'hot' and what is 'not'. It is often called us 'herd' thinking or going where the masses are. With too much of the population getting into Legacy and describing the 'very' easy way to accumulate wealth through their no-brain policies, the populace was led to a wind fall.
LESSON NO. 6- GOVERNMENT IS ACTING LIKE..
Never be misled into thinking that the government effectively regulates entities that protects the masses from deception. Government is just government, a poorly run entity that cannot even manage it's own affairs which seeks to cure the 'flu' of the people when it is infected with HIV (regardless of which nation on Earth). Like an octopus that has nails instead of tentacles.
Pinoy Business Coach believes that in the entrepreneurial spirit comes the ability to think logically in terms of investing, the ability to steer off the pit holes of public insanity and ensure superior returns on money, sweat, blood and tears.
Please check out my other blog: http://philgoldandsilverinvestments.blogspot.com, which will definitely help you attain more leverage than investments in pyramids and ponzi schemes. Click Here to Read More...
Even here in the western tip of the Philippines, angry citizens continue to scorn and 'pretend' to go after the Legacy group so as to get their money back. I use the word pretend since knowing the judicial system in the Philippines plus the corporate clout which the owners of Legacy can always blanket themselves in, the pursuance of such an endeavor becomes .. a dream.
Lessons of the Legacy investment:
LESSON NO. 1- IF THE OFFER IS TOO GOOD TO BE TRUE, THEN IT IS.
The double your money scheme worked out in the beginning to it's first patrons but in the long run this kind of leverage is self defeating. As funds continuously came in, corporate heads became to greedy and sidetracked people's money into non-performing assets and doodads..
LESSON NO. 2- ABDICATION INVESTING IS DANGEROUS.
Abdication is just a big word that means delegating irresponsibly. In any investment, the investor is required to do his part to look at the details on how the money is used, where it is going and why it is able to produce a 20% per annum return. (Double your money in 5 years is essentially 20% per annum in interest)
LESSON NO. 3- THE R.O.I IS JUST ONE OF THE BASIS FOR INVESTING
Naive people pooled their money to Legacy without thinking further and worse, without even thinking at all. Just because they were promised that their money would double in 5 years, citizens began pouring their life long savings into the fund. Other questions should include:
1. Who is incharge of the fund ? - Berkshire has Buffet, PLDT has Pangilinan, Globe has Ayala, SM Holdings has Henry Sy.
2. What is the track record of the one in charge of the fund ?
3. Who is on the management team of the one handling the investment?
4. Are they trustworthy?
Being a businessman myself, I can realistically say that while there are many endeavors that yield superior results, there are also tons of such endeavors that do not give as promising yields. It takes a great mind to see such opportunities, and the people in possession of such minds are getting scarce.
LESSON NO. 4- DOCUMENTATION IS IMPORTANT
It is my prediction that the smaller few that will be able to get back a big percentage of their investments in Legacy are those who kept track of every Official Receipt, photocopied each transaction, kept every personal records, bank receipts etc..
LESSON NO. 5- QUESTION GROUP THINK
Group think was coined as the general perception of the population on what is 'hot' and what is 'not'. It is often called us 'herd' thinking or going where the masses are. With too much of the population getting into Legacy and describing the 'very' easy way to accumulate wealth through their no-brain policies, the populace was led to a wind fall.
LESSON NO. 6- GOVERNMENT IS ACTING LIKE..
Never be misled into thinking that the government effectively regulates entities that protects the masses from deception. Government is just government, a poorly run entity that cannot even manage it's own affairs which seeks to cure the 'flu' of the people when it is infected with HIV (regardless of which nation on Earth). Like an octopus that has nails instead of tentacles.
Pinoy Business Coach believes that in the entrepreneurial spirit comes the ability to think logically in terms of investing, the ability to steer off the pit holes of public insanity and ensure superior returns on money, sweat, blood and tears.
Please check out my other blog: http://philgoldandsilverinvestments.blogspot.com, which will definitely help you attain more leverage than investments in pyramids and ponzi schemes. 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...
by NOOBPRENEUR on FEBRUARY 22, 2009
Being an entrepreneur is easy. What make entrepreneurship hard is because it involves money, either yours or other people’s.
If you play an entrepreneurship game - board game or computer game - you can risk your money rather easily due to the fact that it is ‘replayable’. If you lost, try again, and again.
In real life, the game is not ‘replayable’. Real life is a one way journey (unless you’ve already invented time machine!)
In real life, every money decision involves risks, and minimising the risks, unfortunately, need strong financial intelligence.
One last thing - in real life, minimising the risks through control mechanisms will eventually bring success or failure to you.
Having the right financial knowledge helps you averse risks and avoid bankruptcy.
Having the right financial knowledge keeps your money in sight, and every cent will go into or out from your pocket within your tight supervision… and control.
Where to seek the right financial knowledge
When I mention financial intelligence, I’m not talking about financial intelligence through formal financial education, i.e. in colleges. I’m talking about financial knowledge that is acquired through applied education - seminars, courses, mentorship and, of course, knowledge from getting your own hands dirty.
Formal financial education is important. But in my opinion, informal, applied education is more important.
Sadly, many entrepreneurs lack financial knowledge
It is unfortunate to learn that my fellow entrepreneurs lack financial knowledge. I’m not talking about advance knowledge. I’m talking about simple, basic, knowledge.
Understanding your balance sheets and financial statements are essential to run your business. Trusting them to your staffs is nice, but understand them yourself help you control risks, while giving you better view on your business.
When hard times hit, such as today’s recession, the financial knowledge is the one that make or break your business. Unfortunately, entrepreneurs often forget about this and realise the importance of financial knowledge when it’s all too late. I have to admit, this is my case, too.
I have to close my businesses due to lack of financial knowledge, and I promise that I will not let my business slips past me anymore.
I’ve been near bankruptcy myself and survive. I hope you survive, too, even thrive! It’s never too late - learn as much as you can about finance. You’ll see that, eventually, what you know will save you from financial adversity.
Ivan Widjaya
Finance is a lifelong education
*Financial Education leads to financial intelligence and the more we teach ourselves the subject of business and investing, the more risks is minimized and controlled. Click Here to Read More...
Being an entrepreneur is easy. What make entrepreneurship hard is because it involves money, either yours or other people’s.
If you play an entrepreneurship game - board game or computer game - you can risk your money rather easily due to the fact that it is ‘replayable’. If you lost, try again, and again.
In real life, the game is not ‘replayable’. Real life is a one way journey (unless you’ve already invented time machine!)
In real life, every money decision involves risks, and minimising the risks, unfortunately, need strong financial intelligence.
One last thing - in real life, minimising the risks through control mechanisms will eventually bring success or failure to you.
Having the right financial knowledge helps you averse risks and avoid bankruptcy.
Having the right financial knowledge keeps your money in sight, and every cent will go into or out from your pocket within your tight supervision… and control.
Where to seek the right financial knowledge
When I mention financial intelligence, I’m not talking about financial intelligence through formal financial education, i.e. in colleges. I’m talking about financial knowledge that is acquired through applied education - seminars, courses, mentorship and, of course, knowledge from getting your own hands dirty.
Formal financial education is important. But in my opinion, informal, applied education is more important.
Sadly, many entrepreneurs lack financial knowledge
It is unfortunate to learn that my fellow entrepreneurs lack financial knowledge. I’m not talking about advance knowledge. I’m talking about simple, basic, knowledge.
Understanding your balance sheets and financial statements are essential to run your business. Trusting them to your staffs is nice, but understand them yourself help you control risks, while giving you better view on your business.
When hard times hit, such as today’s recession, the financial knowledge is the one that make or break your business. Unfortunately, entrepreneurs often forget about this and realise the importance of financial knowledge when it’s all too late. I have to admit, this is my case, too.
I have to close my businesses due to lack of financial knowledge, and I promise that I will not let my business slips past me anymore.
I’ve been near bankruptcy myself and survive. I hope you survive, too, even thrive! It’s never too late - learn as much as you can about finance. You’ll see that, eventually, what you know will save you from financial adversity.
Ivan Widjaya
Finance is a lifelong education
*Financial Education leads to financial intelligence and the more we teach ourselves the subject of business and investing, the more risks is minimized and controlled. Click Here to Read More...
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