From Employee to Entrepreneur

“I’m tired of being an employee. I want to start my own business.”

You may be tired, not necessarily because you're an employee, but because of other possible reasons.

1. You are in the wrong job.

2. You are in the wrong company.

3. You need a new challenge.

Starting your own business can prove to be one of the most rewarding things that you can do, but it can also be tiring if you're not built for it.

It will take a lot of hard work, trial and error and learning to build a sustainable business. But if you’re passionate about it, then go and pursue entrepreneurship.

"What business should I start?" 

"Should I change career?"

"Can I monetize my hobby?"

That I will answer in this upcoming learning event this Sept 14, 2013 at The Crimson Hotel Alabang. Join us! To check out the details, visit http://tinyurl.com/jumpstartevent

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DON'T PUT YOUR MONEY IN A BUSINESS THAT YOU DON'T UNDERSTAND

Many people are in search of a "lucrative business." They assume that if other people are making money from it, they'll do too.

Before putting up a business, consider what Warren Buffet (the 2nd richest man on the planet) has to say:

Don't be too quick to let go of your money simply because an investment "sounds good." And don't just turn your back either without studying it, or you'll end up to be close-minded – you won't be able to find anything to start. 

If you don't know how a business works, then research and learn about it. Better yet, try to test the market or get a pulse by talking to prospective customers, suppliers, or to the people who've been in the industry long enough.

Pessimism will hold you back. Optimism is good, but don't forget to do your homework. 

• • •

YENG REMULLA is the author of the best-selling books Productive Pinoy & Start Something. An entrepreneur for 15 years, a real estate investor and the founder partner of START LEARNING.

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ENTREPRENEURSHIP IS FUN BUT NOT EASY

Many people go into entrepreneurship because they think they'll earn more money and have more free time. 

Yes, that is true in the long-run, but don't expect to start that way.

While you're starting, it will be time-consuming. There will be days that you will feel demotivated. And it will require a lot of trial-and-error. 

Don't go into entrepreneurship simply because you're expecting it to be easier than what you are doing right now. Entrepreneurship is fun, but it's not easy. 

You need to be focused, consistent and faithfully stubborn to build a sustainable business.

But if you are willing to do the inconvenient, to let go of the excuses, and to work on it, you will enjoy the ride and might just succeed beyond your expectations. 

Learn the art of the start! Grab a copy of Yeng's new book, "START SOMETHING" in Powerbooks or National Bookstore Branches for only P380. Better yet, sign-up and join his Startup Group HERE.

*If you find this blog post helpful, please Like, Tweet or Share it too! 

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EVEN IF YOU GET OUT OF THE RAT RACE

Here's a funny saying I've heard recently, "Even if you get out of the Rat Race, there's a chance that you're still a rat!"

I agree. We should all strive to achieve financial freedom. Leaving an inheritance to our children is a good thing. 

And many people start with that intention. But along the way, somehow, many have been derailed. Not realizing they are already running a different race – the race to get more, to get ahead or even to get even.

Financial freedom? Yes. But do it for the right reasons.

Engage in pursuits that will not only make you rich, but will enrich you as a person – something that will be of service to others or the people closest to you. 

You don't want to get out of the rat race and still feel like a rat!

To get an idea where to begin, I hope you'll get a copy of my newest book, START SOMETHING. It's now available at National Bookstore and Powerbooks Branches. 

If you find this post helpful, please Like or Share it to your friends it too!

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GET THE RIGHT DETAILS RIGHT

The last few days has been crazy productive. On top of running my real estate company and organizing training events, I've spent most of my time working on my second book. (Title to be announced soon!)

 NEW BOOK COMING SOON!

Here are two lessons I've learned this week:

1. You have to get the right details right.

You'll have to be able to distinguish a detail that matter from one that just slows you down. 

If you want to build a product that resonates with people, you will have to get the details that matter right. 

When publishing a book, this could mean picking the right colors for the book cover design so your book stands out when displayed on the bookstore shelf. Or it could mean using the right font size and spacing to ensure easy reading. 

The point is that you need to find out what matters to the people you are serving. 

2. To get the details right, you need to be with the right people.

I'm blessed to be surrounded by partners and friends who are talented, reliable and easy to work with.

For many nights now, I've been exchanging emails with my editor, Ms. May Palacpac. We'd bounce off emails back and forth just to get a single word right. Thanks to my editor. The book is now ready for printing.

I was in the printing/publishing office yesterday to finalize the book cover. Somehow, the printer didn't get the exact color right. Thanks to my graphic designer, Ms. Nix Gamboa, (with Janjan Arcenal) who immediately figured out how to get that detail right. 

On separate occasions, two of my friends, BG Hernandez (renowned creative director) and Maan Villanueva (graphic designer) also checked the layout of the book. They pointed out areas for improvement that I wouldn't notice otherwise.

While all of these were happening, my business partners, Bob Barcebal (Pinoy Sales Champ) and Kat Baylon (corp. trainer) took care of the details of the two learning events that we organized for May 2013 – Heart at Work EQ Workshop (May 17) and the book launch. (May 31)

I'm glad to be working with all of them. 

You don't have to do your work alone. Whatever you're working on today, surround yourself with the right people.

• • •

By the way, if you don't have a copy of my first book yet, you can read the reviews HERE. PRODUCTIVE PINOY is available at any National Bookstore or FullyBooked Branch. Thanks!

If you find this post helpful, please like or share it too. Thanks!

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TIME TO EARN OR LEARN?

There are two good reasons why you should work for a company or start your own business – to Earn or to Learn. 

Because of your responsibilities, earning may be your top priority today. That is understandable.

But it's also wise to spend some time "learning." Learning may cost you today, but it will pay off and will be worth much more later. 

As an aspiring entrepreneur, you may put up a small business, not necessarily to earn or to make it big, but to learn the disciplines of running a business. 

Learning (the right stuff) is extremely valuable and may increase your earnings later on.

Another way to do it is to work for a company where you can learn the ins and outs of the business or the trade. 

Both can work well.

The danger is to be too busy working without an objective. 

Be intentional and ask yourself, "Is it time for me to learn or to earn?"

Of course, you can always do both.

_

YENG REMULLA is the author of the highly-acclaimed book, Productive Pinoy. He is also the founding-partner of Start Learning. Visit http://www.startlearningph.com/

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ENJOY THE WAIT!

You're waiting for your business loan to be approved. 

You're waiting for a prospective client to finally say "Yes" to your offer.

You're waiting for your business to take off now that you've done what you could.

Now that you're waiting, you realize that waiting (and not knowing what to expect) is harder than anything.

Getting news that you succeeded calls for a celebration. Getting news that you failed – you can face it, re-strategize and move on. Any answer will, somehow, give you closure.

But waiting?...

Like a test, you'll either pass or fail the waiting game.

Waiting is part of the package. Not only that it reminds you that you're not in control, but you also get to realize the important things in life.

You might as well do something productive and enjoy the wait.

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BUSINESS WITH A MISSION

The purpose of a business isn't just to maximize profits or to make money. Doctors make money, but their purpose is to heal people.

Behind every successful entrepreneur or a business, you'll find a deeper mission or purpose that fuel its growth.

By focusing on letting "Every Juan to Fly", Cebu Pacific holds the biggest market share (46%) on domestic flights.

Jollibee was able to beat McDonalds in the Philippines by making it their mission to satisfy the Pinoy taste buds.

While Hapee (Lamoiyan Corp), not only makes toothpaste, but also employs deaf-mute workers as a way to serve the community.

Other than to make money or to make ends meet, why are you starting or running a business?

What makes it worthwhile?

• • •

I'll be giving a talk on how to Start a Business this August 3, Saturday, at the Malayan Plaza Hotel Ortigas. If you've been wanting to put up a business, this will be an interesting learning session for you. 

By the way, the first 30 to register will get a free START SOMETHING Book!

For details and to register, visit this link: www.startlearningph.com

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Dreaming and Working

"Dreaming" and "Working." 

Many confuse one for the other. Some are just dreaming when they should be working. While others are just working when they should be dreaming!

Nothing great has been done with just a mere pep talk. If you have a big dream, go and work for it. It takes more work (rather than talk) to make things happen.

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ALL GOOD IDEAS AREN'T TAKEN

It's when you stop looking, experimenting or risking (even attempting) that you run dry of good ideas. 

All good ideas aren't taken.

Don't let this thinking stop you from doing great work. 

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TREAT IT AS SERIOUS BUSINESS

Having fun in what you do doesn't mean you're not doing "serious business."

This is true for writers, artists, musicians, athletes or anyone who 'seems' to have a much easier job. 

As a writer, one of the things that I've learned is that you can't just wait for inspiration. It takes a lot of discipline, planning and hard work to produce quality content and to be heard in this noisy world. 

You may have a job that doesn't sound as glamorous, but in whatever you do, have fun, give your best, and treat it as serious business.

YENG REMULLA is the author of the bestselling books, PRODUCTIVE PINOY & START SOMETHING. Hear him speak at the upcoming "JUMPSTART YOUR SUCCESS" Seminar this November 30 @ The FORT BGC! See details here: www.startlearningph.com

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THE PROBLEM WITH EASY MONEY

Have you heard of the question, "Kikita ba ako dyan kahit wala akong gawin?" You'll hear this from people who wants it easy.

If an investment sounds too good to be true, then maybe, you shouldn't put your money in there.

I'm sure you've heard of the latest pyramid scam that just happened in Mindanao. (P12 billion lost, 15,000 families affected)

The promise of a big and quick return (what the banks or reputable firms can't offer) with no work required on your part is a sure sign of risk or danger.

Your money can only make money for you...

1. When you use it to "create value" for a customer. 

Try to use your money to buy buns, spam, pepper, eggs and cheese. You have a Spam Black Pepper Sandwich that sells around P150 in Starbucks.

Remember, your money won't grow on its own. It needs to do something for a customer. 

2. When you trade it with something more valuable. (buy low, sell higher)

Say you found a good deal. You were able to purchase a car for only P200,000. After two months, you were able to resell it for P250,000. You've just made P25,000 per month for two months. (return: 10% per month)

3. When you use it to buy something that appreciates in value. 

Let's say about two years ago, you purchased a P2 million commercial property in a decent location. You just found out today that SM is about to put a mall across your property.

Effect : Appreciation. Now people find your property more valuable. Your P2M is now worth P3M or more if ever you decide to sell. 

4. When someone reputable (with a proven track record) puts your money to work or use it to grow their "profitable" business. 

Note: Don't invest your money in a company that's trying to save an ailing business!

5. When you buy a property that collects rent every month.

(property: anything that people are willing to pay rent for – real estate, heavy tools or machinery, portalets, tables & chairs, etc)

Don't simply go for easy money. Laziness often leads to shortcuts.  

To grow your money, either put it to work yourself, (faster than usual) or ask a reputable company to do it for you. The latter may take longer, but your money will still grow over time. 

Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows over time. Proverbs 13:11

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SHOULD I PURSUE MY PASSION?

I rarely talk about "passion." Not that I am not passionate.

I am passionate about several things. My passion has led me to achieve major aspirations I never thought I could do. But with the same passion or my immature zealousness, I've also failed miserably in a few things I've done before. (a painful lesson)

What I've learned in life is that 'passion' isn't enough. 

You can't just live on passion. 

You also need wisdom. 

Wisdom is the ability to make the right decision at a given time, context or situation. So, how do you get wisdom?

1. Pray and read the Bible.

The bible says "The fear of the LORD is the beginning of wisdom…" (Psalm 111:10) To know what to do, pray and ask Someone who knows what's best for you. He holds the bigger picture. 

2. Ask an adviser. 

Asking for advice isn't a sign of weakness. It won't make you look dumb. In fact, with many advisers, you have a better chance of succeeding in any endeavor. Don't be too shy to ask. 

3. Don't wear yourself out chasing "MORE" money. Instead, show restraint and put your time on living out your "purpose." Do this, and most likely, the money or provision will follow. 

Self-centered pursuits or a get-rich-quick aspiration won't do you any good. The key is to be passionate about the right things. 

4. Learn from your mistakes. 

If you fail, get up again, then apply what you've learned. Don't let a failed business, project or a failed attempt stop you. Don't get stuck living in a "state of failure." You won't learn if you won't move on!

5. Win small victories. 

Even small battles can teach you big lessons. Be faithful even with the little. Small victories will lead to bigger opportunities. 

6. Remain humble. 

Pride often leads to a loss of respect. (see Pr 11:2) Be willing to listen. Consider the point of view of others. Put other people first and be of service to them. 

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MY 14-YEAR OLD SON IS NOW AN ENTREPRENEUR

When Trey was a lot younger, people would ask him "what do you wanna do when you grow up?" With his cute lisp he'd reply, "I yike my dad's work. I yike to be a businessman." That brought joy to me.

Even when Trey was growing up, it was natural for us to talk about business concepts whenever we're together.

Whether it's the food in a restaurant, the feature of a gadget, or the design/flow of a website – Trey and I would always discuss ways on how we can improve a certain product or service. We'd even come up with better ways it can be presented or sold. 

This was an exercise we'd always do for fun. But I didn't realize he was really taking it seriously. (Even I didn't expect that he'd become an entrepreneur this early.)

FUNDING HIS FIRST VENTURE

Every time that Trey would get his allowance or receive gifts from us or from his grand parents, he'd put away some money in the bank. The amount can be as little as P200 and to as much as P1,000. 

He didn't have a plan where to spend his money. At times, I would even suggest, "why don't you buy a PS3 or an XBox with the money that you've saved?" 

Trey would always say "No, it's ok. I'll just wait." 

A few months ago, he came up with a business idea – to print his own statement shirts. Coming from the Twitter generation, he would name his brand #HASHTAG. 

Trey would regularly bounce off his ideas to his very supportive mom and me. It became a trending topic during dinner. 

Until one day, he finally decided to do it.

He told me that he'll use his own money (his savings of P21,000) to fund his business. And at that moment, I knew he was serious.

So he went on to source the raw materials and visited a manufacturer that can bring his designs to life. 

His first factory visit

"Design meeting" with supplier/manufacturer

After a week, Trey received the samples and wore the first Hashtag Shirt. That got him really excited about his new business. 

HASHTAG Clothing Co. Founder Trey Remulla with his First Shirt

As of this writing or update, he has about 7 shirt designs and has sold over 500 shirts in 4 months time. He has more than tripled his capital. He makes more than what a minimum wage worker earns. 

100% Cotton. Eco-Friendly. Lead free. Phthalate free. Eco-friendly paints. Machine washable. EXPORT QUALITY.

Logo at the Back

*Latest Design*  100% Cotton. Lead free. Phthalate free. Eco-friendly paints. Machine washable. EXPORT QUALITY.

#HASHTAG Clothing Co. is now officially online. You can check it out HERE. 

#HASHTAG Clothing Co. website 

Website: www.hashtagclothingco.com

Facebook Page: #Hashtag Clothing Co.

Ever since Trey started his business, he's been asking me a lot of questions. I can see him learning and enjoying it. I'm really proud of him.

Please visit his Online Store, like his Facebook Page or buy a shirt! 

I hope this will also encourage you that you're never too young (or never too old) to "Start Something."

~

Join me this Friday, May 31, 2013, for the START SOMETHING Book Launch in Powerbooks Greenbelt 4, Makati. 5:30pm–8:00pm. I'll be sharing a few tips on how you can start the work that you've been thinking about. 

If you're free to come, simply fill out this FORM. Many thanks!

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RICH DAD, BANKRUPTCY, AND A FEW LESSONS LEARNED

Rich Dad Poor Dad best-selling author Robert Kiyosaki filed for Bankruptcy for one of his companies after losing a lawsuit. (By the way, he owns more than ten companies)

And as someone (me) in the real estate business, I thought I'd share my thoughts about this. 

I used to be a Kiyosaki fan in the late 90s. I've read a lot of his books. The ideas presented in his book was 'fresh and revolutionary' at that time. 

"Financial Literacy" quickly became a buzz word those days. Every "business opportunity" presentation can't go without the "cash-flow quadrant" powerpoint!

I kept buying the Rich Dad books. (along with other business books) Until one day, while reading, I realized that he was just saying the same thing over and over again in all of his books. So I took what I could apply in my business and moved on. (people tend to idolize him)

Some of the ideas worked for me. Some didn't. 

As an entrepreneur and a real estate investor, here are a few personal lessons I'd like to share. 

Disclaimer: These are my personal realizations – it may or may not work for you.

1. Invest in the "right property" or real estate. 

Not all properties are good investments. You need to do your homework. 

I own a small real estate company that operates 33 rental units today. Owning these assets has worked for me. I guess collecting money from 'rent' has been a good idea – even before Robert Kiyosaki was born. 

2. Avoid Irresponsible Borrowing. 

You can use fire to cook, to heat or to light. But too much fire can also burn down the house. Irresponsible borrowing is playing with fire. 

Borrowing money for an unproven business is a bad idea. Should you borrow money for your business, make sure it's to expand what's already working for you. Don't speculate if you can't afford it! – a painful lesson I needed to learn first hand. 

The best way to start is to start small. Then find a way to scale up. 

Patience and consistency will take you a lot further. 

3. Like Mr. Kiyosaki, I'm also an author. The royalties/income from book sales here may not be as much, but it's opening new doors for me. So, I guess that's a good idea. 

A well-written book is also something that you can leave behind to your children. 

4. Rich dad says, "your house isn't an asset, but a liability." Well, you have to live somewhere. He can call it whatever he wants, but for me, i'll call it "my home." 

I guess what he simply meant was: Be wise when purchasing a home. Do you really need a big house with a big mortgage? Or would you put your money in a "luxurious car" when you can buy a more practical one and invest the rest somewhere more profitable?

The bible offers the best advice "Finish your outdoor work and get your fields ready; after that, build your house." – Proverbs 24:27

5. A "good name" is still more valuable than riches. 

This is not the first time Mr. Robert Kiyosaki was sued. 

The sad part is that he has been sued by someone close to him (Sharon Lechter) and by someone who has helped him in a big way. (The Learning Annex)

The Takeaway: Be diligent. Be financially literate. Be successful. But don't neglect the most important – your reputation and your character. 

The best gift you can give to your children is 'a good reputation' that they can carry with them. 

The best gift you can give to yourself is knowing in your heart that you tried your best to do what's right – even when no one else was looking, counting or expecting.

* * *

Get P50 off when you buy a PRODUCTIVE PINOY book online. Free delivery nationwide via LBC. To order, simply click HERE.

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PLANNING ISN'T DOING

I love planning. It's fun to strategize, to brainstorm or to dream of the million possibilities.

But what if you spend more time planning than doing?

Planning done well will save you a lot of hours. But if done wrong, it will do the opposite... eat all of your precious time!

Planning to travel the world? Book your first flight.

You intend to lose the love handles? Don't just buy "the new rubber shoes" – go run or go to the gym daily. 

Don't keep on telling the girl "I plan to marry you." Go. Propose. 

While planning is essential, "doing" is still the main point. 

Planning isn't doing. Doing is doing. 

* * *

Get P50 off when you buy a PRODUCTIVE PINOY book online. Free delivery nationwide via LBC. To order, simply click HERE.

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BE MISSION DRIVEN

Ask highly successful entrepreneurs why they do what they do, and you will find out that it's rarely about the money.

Most of them are not money driven, but mission-driven. 

No wonder Apple's Steve Jobs said "I want to put a ding in the Universe" when he was younger. (this was even before the iPod, iPad, iPhone or even the laptop was invented)

In some ways, Steve has equipped us with tools that has changed the way we live.

But you won't hear Steve talk about money. You'll hear him talk about innovation, cool products or about the next big thing. 

It was always about "the mission."  

What's keeping you awake at night? How can it affect others in a positive way? What's the mission?

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CAN YOU 'ATTRACT' MONEY?

I don't think you can attract "money." 

You can only attract PEOPLE who'd like to work with you, do business with you, or buy from you because ...

1. You're good at what you do. 

2. You're easy or fun to work with. 

3. You're brand is interesting.

Now, if you want to become (financially) rich, follow the above three and practice good financial management along with it.

Don't ever think that you can 'magnetize' money. Money is earned by delivering something of value – or is a gift out of someone else's generosity. 

Many times, getting "rich" has nothing to do with money, but a lot to do about servanthood, discipline and good stewardship.

* * *

Get P50 off when you buy a PRODUCTIVE PINOY book online. Free delivery nationwide via LBC. To order, simply click HERE.

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YOU CAN BECOME AN EXPERT BY...

You can become an expert by finding out ...

1. How to do it. 

2. How NOT to do it.

And to be able to do that, it will take a lot of willingness on your part to make mistakes. Many times, you need to be lost to stumble on a "great discovery."

Take note and appreciate whatever you learn today. Because tomorrow it will all make sense.

* * *

Get P50 off when you buy a PRODUCTIVE PINOY book online. Free delivery nationwide via LBC. To order, simply click HERE.

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Beating the Competition!

Many business leaders today equate "winning" to beating the competition. The focus shifts from the customer to dominating the market. The most important person (the customer) becomes a number or a statistic. While employees get exhausted for chasing after unreasonable quotas.

Don't confuse 'winning' with getting ahead of the competition. Instead, look at your customers one by one. Think of ways how to make them happier, satisfied or fanatic. Do this, they'll be the one to help you capture the rest of the market.

The purpose of a business is not to beat the competition. It's to fill a need, solve a problem or make things better for someone.

That's what your customers are paying you to do, not to compete with anybody.

* * *

Get P50 off when you buy a PRODUCTIVE PINOY book online. Free delivery nationwide via LBC. To order, simply click HERE.

 

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