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Business Money Mindset

Dodong Cacanando’s Entrepreneur’s Journey To Fruitfulness

Last month, I had the chance to attend sir Dodong Cacanando’s seminar titled Entrepreneur’s Journey to Fruitfulness. It was a 5-week seminar conducted through Zoom online meetings every Saturday night.

Prior to this, I already bought and read all the 3 books of sir Dodong Cacando and watched over the many videos on his Youtube channel.

Sir Dodong is also an Engineer just like me. We think in similar ways. We analyze things in detail to find out how they work.

If you’re not familiar with the story of sir Dodong Cacanando, he is a former IT corporate guy who uprooted himself and his whole family to move to Bukidnon after “hearing a voice” tell him to go. In 20+ years, he built his farm called Moriah Farms from a barren land to now contain a thriving forest, a huge plantation of high-value crops like lettuce as well as a growing livestock of pigs, goats, sheep and more.

His core teachings is based on the belief that the bible can be used as a guide to doing business. His work as a farmer allowed him to study the ways of the plant, and how the same principles that help a plant become fruitful can also be applied to building a profitable business.

Today, I’d like to share with you a few of the things I learned from his seminar.

Right definition will result to correct actions

One of the things that sir Dodong emphasized was the importance of really understanding what entrepreneurship is.

Today, some of those who teach entrepreneurship do not even have a single business in their name. They have been trained in theories. They lack real-world experience. How can you teach something you have not done so yourself? Unfortunately, most of the great entrepreneurs don’t have time to teach you. They are too busy running their own businesses.

A lot of people are confused nowadays. They think entrepreneurship is all about taking a huge financial risk for a potential profit. That’s what most books say. This idea is incomplete. According to sir Dodong, the word “Entrepreneur” comes from the French word “Entreprende,” meaning “to undertake, to manage or to take care of.” To take care of what exactly? To take care of what you have already.

This is one of the foundational pieces that I learned from sir Dodong’s seminar.

Often, we look for “greener” pasteurs. We think our job sucks so we look for other jobs to apply to. We think our business is too stressful, so we look for other opportunities that are “easier.”

The reality of business, is that there’s no “easier” business. All businesses require hard work and dedication. Nothing can replace that.

This reminds me of the saying, “the grass is greener, where you water it.”

It is not wrong to aspire for greater things, but you have to start somewhere. And that somewhere is where you are right now. Start with what you have, what you know, what you can do of the things in front of you.

Business can only grow with a problem

If you’re like me, I hate dealing with problems, especially when it comes to people. I’d rather stay in my corner and mind my own business. Unfortunately, when you are in business, you will always have to deal with other people whether you like it or not. They are your customers, suppliers, employees, fans, bashers, and more.

The good news is that every problem brings with it an opportunity. Dealing with the problem yourself gives you the chance to convert the knowledge and experience you gained on how you solved it into an ability. Your ability, may it be in a form of a new skill or a new improved character, is like unlocking a new superpower!

Opportunities come to those who are ready.

This is one of the things that struck me. I used to think that we should look for opportunities. You don’t like your job? Go and apply somewhere else. You don’t like your boss? Go and find another boss. Your business is not working? Find another business. Perhaps, your new job, or new boss or your new business will finally work.

The sad truth is that it will not solve your problem. As the saying goes, “things don’t work unless you do.” The thing in common is you. The things you look at will only change, when you change how you look at those things. Perhaps, you thought you were scolded by your boss because he hates you. But, maybe he sees potential in you and training you to become his successor. Isn’t the same job you prayed for fervently some time ago, the same job you hate right now? What changed?

In the past few weeks, the situation in our country has improved and the economy is slowly trying to get back up. Most of the restrictions are now being relaxed. A lot of people are now going out. Even traffic on EDSA is back! I’d take the problem of traffic any day instead of dealing with the COVID pandemic.

Businesses are hopeful that they too will be able to recover. More and more are allowed to operate. I’m hoping it continues to improve. I am praying your situation continues improve. We all need the good news that we can get. Cheers!

Categories
Business Life Lessons Life Updates Passive Income Story

10 years after I quit my job. Here’s what I learned.

Today, I am celebrating my 10th year out of the corporate world. It’s been 10 years since I left my job. There were many questions in my mind at that time. Can I make it? Can I really live without a job? Who are you to think you can do it?

So many emotions; mixed emotions. Happy to venture into a new world; but somehow anxious whether I had what it takes to really make it.

I remember when I filed my resignation, I was asked by my manager why I wanted to resign. After all, I had a relatively successful IT career so far. My work as a contractor for one of the biggest U.S. credit card companies in the world has been great. The pay was good. The people are great. What more can I ask for?

Have you ever found yourself asking “is this all there is to life?” After making money, then what? Are you supposed to live life in quiet desperation? Are you supposed to drown yourself in misery? Just taking all the stress in, day in and day out and say to yourself, “it’s part of the job.” 

There were also moments when I felt, I was being bullied (“figuratively”) into working so hard to the detriment of my life outside of work. You have to work on weekends, or early morning shift to support the project. You sacrifice time with your family, even getting calls in the middle of a gathering just to get on the call and resolve a high priority issue. I console myself saying, it is going to be just this one time that I have to do this. But when one project is completed, another one comes along to replace it immediately. The reality sinks in. This is never going to end.

Don’t get me wrong. I loved my job. I loved working on tech problems. They are like puzzles that tickles my brain. It is like watching a mystery or thriller movie where you are the detective who solves the mystery.

It started when I read the book Rich Dad Poor Dad. It’s as if a new world opened up in front of me; an exciting world full of possibilities. I was excited to find out what it was like out there. The book opened up my eyes with lots of possibilities. Is passive income true? Can you really earn while not working? Can you really become an entrepreneur?

Whenever I think about “why” I quit my job, I go back to the restlessness I felt asking those questions. While still working, I have already dipped my hands on several opportunities. I was delighted to see that some of those opportunities are already growing.

So when my manager asked me, why did I resign? I answered, “because I have a business on the side that is growing. At this point in time, I can no longer perform both of my tasks as an employee and as a business owner at the same time. If I fail to give time and effort to my business, it will die. If I focus all of my time and energy on my business, it would not be fair for me to give a mediocre effort on my job. My choice is to give myself a chance to see how far my business can grow.”

I have nothing but gratefulness for my time in the corporate world. It taught me a lot about working on a big team. It taught me about processes and structures and making things happen. As a team leader, I’ve learned to work with people. I also learned to manage a small team of developers, and help them fulfill their potential. It also gave me the confidence to venture out into the world of the unknown, for once upon a time, this world of working in a big corporation, was also unknown to me.  

So on this day 10 years ago, I left the corporate world. 

Is it possible for an employee to shift to become an entrepreneur?

Yes, it’s possible. I am a living proof that it can be done. Well, at least I can say, it’s possible to survive 10 years without having a job. Of course, there are also many people who were not able to make it to 10 years…and that’s ok. Nobody says you have to make it. We each have our own journey to take and live with the choices we make. 

I’ve seen people who went back to their jobs after some time. That’s perfectly ok. There was a time when I thought about (and tried to) go back to work again in a job. I think it was 2 years after I quit when my savings was getting depleted, and my second son was born. I thought about whether it was just pride why I didn’t want to go back to a job. And if it was, I thought is my pride bigger than my willingness to provide for my kids as a father? Obviously, I was willing to do anything to provide for my family. 

But when I tried to go back, there were things that happened that made me realize I have been doing my business half-heartedly up until that time. I knew deep in my heart that I wasn’t giving 100% of my effort (at least not like the effort I’ve put in when I was still working in a job.) So I told myself, “if I am not going back anyway, I might as well make this work.”

So starting that day, I took the business seriously and put in 100% of my efforts into it. I wished I could say it was smooth sailing ever since then, but it was not. There were moments when I would give my best, but still would not be able to reach my goals. There were moments when I got so exhausted from everything, with only a few hours of sleep day in and day out. But I didn’t complain. As they say, “success requires no explanation, failure permits no alibis.” Eventually my efforts paid off and my business started to grow.

Be careful who you listen to.

Until someone is paying your bills for you, then their opinion doesn’t matter.  Many times people have opinions about how you should live your life. You will get them from well meaning parents, to officemates, to friends and others.

Just remember to live your own life. Make your own choices and live with the consequences. After all, we only have one life to live. Nobody is entitled to live your life in your behalf. 

I think this is one of the biggest things you need to overcome if you really want to shift your career to entrepreneurship. Words are cheap. It’s easy to have an opinion. It is harder to do something, and execute it. 

Sometimes, the negativities can come from your own thinking. Your mind play tricks on you by your fears. It can come from subtle thoughts like “who am I to do this? what will other people say? what if I fail? will people laugh at me and say to my face, I told you so?”
I feel more people are hindered by their own thoughts than any other obstacle. When you are able to win the battle within, the battle outside takes care of itself.

Financial literacy is important.

One of the biggest reasons people fail when they try to shift to entrepreneurship is the lack of financial literacy. Financial literacy is actually less of the “know how” and more of the “discipline and delaying gratification.” We are emotional beings. More often than not, we already know what to do. But we lack the discipline to handle our emotions. We give in to the short term rewards that are in front of us.

This is so important that I feel you shouldn’t go into entrepreneurship if you lack the discipline to handle your own money.

The basics are simple. Pay yourself first. A part of what you earn is yours to keep. You should be able to set aside a part of your earnings and live on the rest. This is called savings. As much as possible, don’t get into consumer debt. These are debts that are taking away money from you in the form of interests and they don’t give you any kind of earnings. Growing your money can only happen if you master the first two. It is not the amount that matters, but the habit and discipline that is important. 

Again, I repeat. Don’t go into business, when you can’t handle your own money yet. Practice on your own finances first. Increase your income. Lower your expenses. Save and grow your money. The reason I say this is crucial is because if you are able to manage your own money, you will be able to manage the money of the business as well. They are founded on the same principle. 

The reality of having a business is that it takes time for it to grow, especially if you build it for long term. In get-rich-quick schemes, you may earn a lot of money upfront, but you are actually paying it with something bigger – that is your reputation and character. People will stay away from you. They will no longer trust you. You sometimes even lose confidence in yourself. That’s too big a price to pay for a short term gain.

You want to get into entrepreneurship precisely because you want to earn more money, pay off your debt, etc. Unfortunately, more money will not solve your problem. It will only magnify what you already lacked – that is you lack of financial discipline. It is like putting gas into a fire. After a sudden influx of cash, you go and splurge on shopping for unnecessary things. You live the life of luxury in one day. You live like a one-day millionaire. That’s the reason why you sometimes see lotto winners ending up broke and having more debt a few years after winning the lotto than before they won.

Keep your day-time job. Start side hustles. The more the merrier. The reason is that you never know which one will pan out. After some time, evaluate which can give you the best return for your investment in time, money and energy. Then go all in. Focus and put your 100% effort into it.

God is powerful.

In shifting my career, there were countless challenges along the way. It is a lot like riding a roller coaster. One minute you are so happy because you were able to setup a meeting with a client, then the next moment you get depressed because he changed his mind at the last minute when you are already at the meeting place. You console yourself and move on to the next. Somehow you manage to remain upbeat, only to get depressed again because you lost your phone on your way home. These are the moments nobody speak about. It seems all glamorous and easy. It is not. But these are also the moments when keeping on earns for you the rewards of tomorrow.

So how do you keep on when everything is tough? 

One of the things that helped me get through hard times was remembering that God is powerful. I am saying this not as a religious fanatic, but as a practical man who has experienced the grace of God in my life.

When my eldest son was born, his heart was supposed to be operated on right away. We were supposed to bring him to the Philippine Heart Center the following day, But by the grace and mercy of God, his condition improved overnight and there was no need for the operation anymore. A miracle happened. After a month, we were able to go home. Now, he is 9 years old. Who would have thought? Only God knows His plans for you and me. God is indeed great! All praise and glory to Him.

That experience made me realize that nothing is impossible with God. Today, when I encounter problems, I would console myself by saying, “if God was able to deliver us from that “impossible” challenge back then, how much more will He be able to deliver us in this moment. This is nothing compared to that. God is powerful.” 

My prayer is for you to hold on to that promise in your life. God is with you in all your sorrows and fears. Lift them up to him and watch Him make miracles in your life.

The hardest part of having a business is dealing with people. 

One of the things I love about working in IT is that most of the time you are only working with computers. They are only systems with definite and known outcomes. You know what to expect. You know when it is not working. You know that once you figure it out, you will be able to solve it and it will definitely work. 

People, on the other hand, are one of the most complicated beings in the face of the planet. One moment you thought you knew how to deal with them; the next moment you are dumbfounded, for you did not expect that reaction from them. How many times have you uttered the words, “I did not expect that he will do something like that”?

You cannot put them into a box. They are people. They are unpredictable. Just like you…and me. We are all imperfect; and that’s what make us beautiful. You never know what surprise you are going to get.

If only I could master working with people, my life would be great. But unfortunately, most of my business “failures”were due to me not being able to handle people the right way. There were times I lost my temper, and that led to a major misunderstanding…a misunderstanding that because of my pride, I failed to resolve in a timely manner…and eventually led to falling out. The business suffered as a result. 

Of course, it is easier to see now looking back, but when it is happening it is harder to see. You make the best decision you know based on what you know and how you feel. Sometimes though, how you feel at that moment (i.e. “pride and frustration”) can derail any kind of “knowledge” you thought you learned. These things you can’t read in books. You can only experience it to know how to handle it the right way when it comes.

The people around you will define you.

Be careful who you surround yourself with. As the saying goes, “birds of a feather, flock together.” I remember asking myself, why is it that most people in my team are IT professionals. Then I realized, I attract the people that I am. When I had 2 kids, the people who joined my team were also parents with 2 kids. It’s spooky!

People around you can lift you up, or bring you down. That’s why you need to be careful who you spend your most time with. There’s this exercise I ask whenever I give personal finance seminars. You list the names of the 5 people you spend your most time with. For example, if you’re working, who do you hangout with in the office? Your boss. Your peers. Your friends. Your enemies. Then try to average out their earnings. Most likely the number you will get is around the same number as your own salary.

What’s the point? People like to hang out with people who are similar to them. You rarely see a big boss or CEO hanging out with the new hires, mid-level managers, etc. Who does he hang out with? Other CEOs or his VPs or other friends. 

So if you want to upgrade your income, you need to learn to spend your time with people who have higher income than you. I am not telling you be a “sipsip” or be close to them for the sake of being friends with them. I am just telling you, allow yourself to be around people who are better than you. I am telling you it is going to be uncomfortable. I think that’s why there’s a thing called imposter syndrome. That feeling you get whenever you feel “unqualified” or overachieving something, is going to manifest its ugly face when you start something new. Just keep on. Soon, when you are able to adjust into your new reality, it will be gone.

Enjoy the journey. 

Tomorrow is not promised. I think that’s also the same thing that the Pandemic has taught us. While you are here, spend time with your loved ones. Tell them how much you love them. Use those plates that are gathering dusts in your cabinet. 

The 10 years has passed by quickly. When I was in the middle of it, I thought it was going to last forever…or at least for a very long time. But I think the life of something is not up to us. We can push, we can crawl, we can fight all we want. But when life teaches us, the best thing to do is embrace it and enjoy. For that’s what we are here for. To learn and enjoy. To live life and love it. Never forgetting the fact, that some of our best laid plans pales in comparison to the plans of the God up above who is looking out for us. 

I think somewhere in the bible says “look at the birds of the air, for they neither sow nor reap nor gather into barns; yet your heavenly Father feeds them. Are you not of more value than they?” They don’t have to worry about what to eat. How much more precious are you than them? 

Even imperfect you are as a father, you know how to give bread instead of a stone. How much more is your father in heaven going to give you something when you ask for it in prayer. 

You may be going through a lot these days. Pray and take heart for God is with you. This too shall pass.

Share your stories.

We are more alike than we think we are. We all want to earn enough income to provide a comfortable living for our family. We want to spend time with our family. We want to payoff our debts to remove the stress of calling creditors.

That’s why I think, sharing our stories is important. By sharing my stories, my hope is that you will know that you are not alone. And if good things happened to me, then it can also happen to you. 

When you look back to all the things you’ve gone through, you will remember fondly the good times. One of the funniest moments I’ve had in the last 10 years was when me and my friends went through the “walking dead theme park” together…even though you’re scared to death, you go along with your friends. Only to find out they are scared too just like you. You end up shouting and pushing the zombies out of your way, scrambling your way straight out to the exit bursting with laughter. You know the saying “HAGALPAK na tawa”? I wish you experience something like that in your life. We all need that. Especially during these times.

You will remember the days when you thought it was impossible, but through working together, days and nights of hard work and sleepless nights, finally success was achieved.

But the sweetest success I’ve had are the victories I’ve shared with other people. When people say celebrate with you and shout “Gold na kami!” That is one of the best feelings in the world. To have people with you celebrating the victory like it is their own. I must admit, I like that better than just me enjoying by myself, because, nothing is done alone. There are countless selfless souls working with you, cheering you on, and helping you one way or another in the road to victory.

There is more to life than earning money, having a job, or building a business. 

At the end of the day, we are more than our jobs. We are more than our businesses. We are more than how we earn money. We are fathers. We are brothers. We are sisters. We are friends, foes, family. 

The minute you realize that you brought nothing into this world and you will bring nothing of it when you die, it makes you wonder, what is all the point? Why put money in a pedestal at the expense of losing your family, or friends? Why get so frustrated by the outcome of a lost business or a job? 

Life goes through cycles. Up and down and up again. and down again. and up. Sometimes, you seem to have a midas touch, every thing you touch becomes successful with little effort. Other times, it seems like you are going against the flowing river. All your hardwork and efforts are going nowhere. 

In my life, I have encountered both. I have experienced having plenty, or at least enough to provide and have a little more to enjoy. I have also experienced financial struggles and being in debt where banks keep on calling me to pay them up. But through it all God has been merciful and gracious that He has delivered me time and time again.

My encouragement to you is that, if you are going through rough times, know that it will end. Good times will come. And if you are having a great time right now, enjoy the moment and always remember to be kind to the people who may need help. Know that challenges will also come and now is the perfect time to prepare. Challenges and calamities expose our weaknesses and areas for improvement. It is not meant to defeat us, but to sculpt our character to what God wants us to be. So take heart. Everything happens for you, not against you. 

Look into the future with hope. The past 10 years has passed for all of us. They say you should save time. The reality is that time will pass anyway whether you decide to spend it or not. The only choice you have is how you will spend it.

Will you spend it regretting about the past? Or being grateful for the lessons you learned along the way.

Will you focus on the negativity and despair? Or will you spend it on getting better?

The choice is up to you.

As for me, I choose to see the brighter side of life. I want to enjoy each moment. In the future, I wish to do more travelling. I wish to have more colorful experiences; stories to tell; adventures to go to.

How about you? What’s your choice? What are you most excited about for the next 10 years of your life? 

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Business

On board Voyager of the Seas, The Royal Caribbean Cruise Experience in China and Korea

It’s been a couple of months since my wife and I together with our business partners enjoyed a 7 days 6 nights asian cruise experience on board the Voyager of the Seas of the Royal Caribbean Cruise. It was already our second time to board an asian cruise, but still the experience of boarding a BIGGER CRUISE SHIP was something we were looking forward to. This time, it’s more grand and luxurious as we were scheduled to visit China and Korea, and it’s all FOR FREE, ALL-EXPENSE PAID by our company!!! Best of all, our company also gave us $1,000 pocket money for shopping! Of course my wife enjoyed it so much. 🙂

As one of the Top 25 Growth earners in the whole Pacific region, we were treated to an amazing VIP experience during our whole stay in the cruise.

Here are a few of the perks we got!

We were given a special room, an ocean view with veranda. It was really breath-taking just chilling on the veranda, staring at the vast horizon of the sea.

On our first night on board, we were treated to a very nice exclusive dinner with the President of our company. It was an amazing feeling rubbing elbows with top business leaders in asia and the pacific. We even got a chance to have this photo taken with the president herself! Every detail was personalized including our food and drinks as we were asked a few months in advance what we would like to eat! It was my first time to eat and find out what FILET MIGNON tastes like! It was so delicious!! Our company truly knows how to pamper, we were given chocolates and these special bears with our name on it 🙂

On our second day, my wife and I were quite nervous and excited as well because we were asked to share our story in front of 800+ delegates form across asia and the pacific. I knew it was going to be a real challenge because first we had to speak in english the whole time, and second we will have to wait for the translator to convert it to Mandarin for Chinese-speaking countries like China, Hong Kong, Singapore and more. We were given the chance to share how our lives were changed in the last 4 years and in so doing, get a chance to inspire 800+ people across Asia and the Pacific region.

During the afternoon session, we had a more intimate Question and Answer discussion with a select group of top leaders. It was a chance to interact and share a little bit more of how it is like building a business in the Philippines. I shared how I learned LEADERSHIP from raising my 2 little boys and watching them grow up and take their first steps, stumble and get up again to do it one more time until they learn how to do it.

The next day, my wife and I were feeling a bit lazy to go to the buffet breakfast so we had our breakfast delivered into our room instead! It was so much fun just staying in bed all morning just enjoying the time without any alarm clocks or worrying about work or business. Remembering we were inside a ship and not a hotel, and there’s a veranda overlooking the sea we opted to take our breakfast there! 🙂

We were treated VIP seats to an ice skating show inside the cruise ship and even had the chance to do ice skating as well! At first I thought it would be easy since a lot of the kids seem to be enjoying and did not seem to exert too much effort at all. Once I put my boots, helmet and pads on and marched onto the ice I knew instantly this was not going to be a piece of cake! More than the pain of getting bruised physically, my ego was suffering more damage…seeing myself just holding on to the railings never letting go while the kids half my size were enjoying the snow and seem to be effortlessly sliding along just fine. Then finally, one moment of courage took the better of me and I let go! That’s when I realized that the moment you learn to let go of your fears of failing, or of making a mistake after trying something new, that’s when the EXCITEMENT and EXHILIRATING feeling of VICTORY within shines through. You never know how exciting life can be until you do something new. 🙂

I thought the VIP treatment would not get any better but I was wrong. We were given VIP exclusive access TOUR to the Captain’s deck. We went through an extensive security screening. While going inside and speaking to one of the security personnel who was fortunately also a fellow Filipino, I learned that the captain’s deck was OFF LIMITS to all passengers and even most members of the crew. Only the captain as well as his team along with a few security personnel are allowed inside. I was even more surprised when I asked whether it was a regular occurence that someone gets a tour inside and she answered no, not at all. Only VIP are given priviledged access to this part of the cruise ship.

There were a lot more we did and experienced while on board the Voyager of the Seas, Royal Caribbean Cruise, but I feel no words can describe the feeling of being there and experiencing it yourself. As I look back on the experience I realize I could easily buy a ticket for me and my wife, however, it still would not be the same. One thing that made this trip extra special was because I was with friends and business partners. It is always super fun and exciting to spend an amazing experience like these with team mates from XTRM 1-11.

Looking back at all the experiences I’ve gone through over the past 4 years before I got to this point in my business career, I must say IT IS ALL WORTH IT.  I realize there’s no such thing as an overnight success. It is always a result of HARDWORK and DETERMINATION. But until you DECIDE to change something, nothing happens.

One of the blessings (and curse) of being a Filipino is that we have this trait called “matiisin.” It is bordering on becoming a “martir” sometimes. When I decided to let go of my former career as IT consultant and shift my focus into business, the decision was not easy but I had one thing going for me. I had a wife who was always there to support me. I asked here one evening whether I should resign or not, and she simply asked me back, “KAYA MO PA BA NG ISANG TAON?” At that time, my answer was a definite “NO.” And the rest, as they say is history.

I’ve learned from my mentor that there’s such a thing called 3 C’s of life: “You must make a CHOICE to take a CHANCE or your life will never CHANGE.”

My only wish for you is that you are able to find the fourth “C” which is the COURAGE to make that CHOICE and live in the direction of your DREAMS.

P.S. I am always on the lookout for people who are seriously considering making a change in their life. If you wish to be part of my team and get a chance to experience the same lifestyle like I do, you can visit my Facebook business page @ http://www.facebook.com/allaninocente111 and send me a message. Or if you received this in your inbox, you can simply reply to this email.  Here’s a quick video to get a glimpse on what kind of life is waiting for you if you decide to act now.

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Business Investing Money Mindset Passive Income

5 Questions You Need To Ask Before Joining a Network Marketing Company

Recently, one avid reader of this blog emailed me to ask my thoughts regarding highly controversial topics such as Network Marketing or Multi-Level Marketing.

I have often hesitated sharing my thoughts on topics such as network marketing, because for one, I don’t have much to share to begin with.  I was not confident enough to share what limited knowledge I had about the industry.  I didn’t want to share with you mere hearsay or what someone else has experienced good or bad.

Now, I know a little bit more and have gained first-hand experience to at least share with you simple tips to help you avoid falling into scams that has given this industry a lot of bad reputation.

First of all, let’s define what network marketing is so we all start off from the same page.

“Network Marketing is a system of moving products from the factory to the consumer, through an organization of users, retailers and network builders.” 

Secondly, I highly encourage you to CLICK HERE to watch a video explaining how network marketing model really works and how is it different from other distribution models.  The video features an interview with a university professor who holds a PhD in Business Administration from Harvard University who is involved on researching, teaching and consulting about network marketing.

Lastly, I want to help you avoid falling into ponzi schemes or pyramid scams.  After learning more about the industry, it has become one of my advocacies to help educate people on legitimate and professional ways to build a network marketing business…and more importantly, if you decide to become part of this industry, to help you build your business with the right foundation of integrity, honesty and sincere desire to help other people get what they want in life.

Here are 5 questions you need to ask before joining a network marketing company.

1) Who are the owners of the company? 

What are their backgrounds in terms of starting and running a business, especially a network marketing business?  Every industry is different.  Some people may be good with traditional businesses, or have succeeded in franchising, but it doesn’t necessarily mean they will succeed using a network marketing business model.  How many years have they been in business? What is their mission and vision?  What are their core values? Is it aligned with what you believe in?

You need to understand that a huge part of business success is about the people who own or are running the company.  The owners, as well as the CEO, and the other employees who will be there face to face with your customers will make or break your business.  You need to think like an investor who is looking for a CEO to run your own company.  If you have doubts about their background, or worse, you don’t even know who the owners of your company are, better STOP and do more due diligence than regret losing your hard earned money in the end.

2) What is the track record of the company?

How stable is the company?  A lot of the bad reputation the industry has been getting is based on some companies’ poor track record.  Not a few companies have started so fast but folded up in a few years. As a consequence, many distributors were left hanging in the end.

The thing to understand about a network marketing business, is that IT IS still a business. The success ratio still applies: 9 out of 10 businesses fail in the first 5 years; and for those who survive, 1 out of 10 of them will fail in the next 5 years.  The simple reason? Any start up business will go through growing pains.   The systems are still being built and not yet in place.  If the systems break down, the business collapses. That’s why, you need a great visionary team running the company, who will make good decisions and never compromise money over the long term health of the business.  You need people who are going to be there for the long term.

How long is considered stable?  A good benchmark is at least 10 years.  By then, the systems are already in place and has proven to work through business cycles like economic recessions and depressions.

3) How is the product different from those in the market?

After watching the video earlier, I hope you at least have an idea how different the distribution model of network marketing companies are compared to traditional ones.  Different they may be, both, however, have the same goal in mind — move the product from the factory to the consumer.

There are three things to consider when looking at the companies’ products: 1) it must have unique selling proposition, it must be of high quality and 3) it must be consumable.

First, the product should have a unique selling proposition.  You cannot sell a product, distribute it via network marketing and have that same product also distributed in traditional retail stores.  Just think, if the same product is available in your neighborhood grocery store, why go through all the trouble and buy it from somewhere else?

Second, the product must be of high quality. The good thing about network marketing is that because it minimizes the distribution cost, the products tend to be of higher quality.  This ensures that it gets the better end of the network being a two-edged sword.  People talk about great products.  But they talk MORE about bad products.  So if you are in a network marketing business, your products must be top-notch, otherwise, your network’s multiplying advantage may even be your worst enemy.

Third, you want your products to be consumable.  You want your customers to keep coming back to use your products.  That’s the only way to build loyal customers.  That applies to a traditional business, but even more so for a network marketing business.  And you can only do that if your product is of high quality.

4) Where are the sales coming from?

There are two-sides to a legitimate network marketing business.  One, is direct sales, where you buy a product at a lower price and sell it higher for a profit.  The other side is in sponsoring other people to help you sell more products to more users, retailers and network builders.  Normally, the company will give you a start up kit or enrollment pack which contains your initial inventory of products.

To know if the company is legitimate or not, you need to watch out whether the direct-sale activities balance with the sponsoring side of the business.  If the sales are coming mainly from direct sales with minimal sponsoring activities, then it is operating mostly as a direct sales business.  On the other hand, if the sales of the company are coming mostly from selling of start-up kits or enrollment packs, and not much is coming from direct sales, then the company is bordering on becoming a pyramid scam or ponzi scheme.  The company may be legitimate, but if the only thing they are selling is the startup kit, and there are no repeat purchases from satisfied customers, then sooner than later, the company will also fold up.

Obviously, the commissions should be based on how many products were sold and how many repeat purchases there are, and NOT based on the number of people who signed-up.  In the end, the heart of a business is still and will always be satisified customers.

5) How fair is the compensation plan?

Is the compensation plan built upon rewarding only those people at the top? Is it possible for someone new to surpass the earnings of those who have joined the company earlier?  How will you be rewarded?

How healthy is the financial condition of the company? Has the company put in place control mechanisms to ensure the long term health of the company?  Obviously, the company has to make profits as well as give a fair share to the distributors.  If all profits are given to distributors, it is just a matter of time before the company folds up and the owner runs away with your money in his pocket.

You also need to ask yourself how many people have already succeeded in the company, and what are your chances as a new distributor to succeed as well?  What available training and support will you get in order to achieve the same or greater level of success in the business?  What challenges will you expect if you decided to pursue this business to get the results you want? These are simple questions you need to ask to really understand what you are getting into.  Network marketing business can give you potential residual or even passive income, but it doesn’t happen overnight.  It is certainly not easy, but it can be done.

The above 5 tips is just a simple list you can refer to before joining a network marketing company.  My hope is that you keep this handy list with you when you start exploring getting into a network marketing business.   The world has changed…and one of those changes is the coming of age of the network marketing industry.  It has even been tagged as the “business of the 21st century” by Robert Kiyosaki, the famous author of Rich Dad, Poor Dad.  The only question is whether you will become part of it or not.

Starting a network marketing business can be your gateway to success if you do it right.  It will most likely change your life for the better if you work on it and do your own due diligence.  In the end, it is all up to you.  Be driven.  Be careful.  Be wise.

Cheers to your success!

 

P.S.  CLICK HERE to mail me  if you are considering building a network marketing business and would like to be part of my team XTRM 1-11 Inc, one of the most professional and highly successful team in the network marketing industry. If you become part of the team, you will also get a chance to receive personal mentoring from me.
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How Can A Janitor Be Better Off Financially Than A Doctor?

A humble low-income earning janitor became better off financially than a highly successful doctor. It happened…only in the Cashflow 101 game.

Last weekend, I had the great fortune to host another round of Rich Money Habits Cashflow Workshop.  And I couldn’t have prepared myself for the suprise that I was about to witness — a janitor beating a doctor in the cashflow game.  It happened.  It really happened.

How did it happen?  Simple.  The janitor took advantage of the opportunities that came his way, even though he had little money to begin with.  In the end, he got out of the rat race and achieved his dream.  The doctor, on the other hand, was a little bit more careful and took his time investing in opportunities.  While he was able to generate a lot of passive income, in the end, he wasn’t able to get out of the rat race.

Of course, it helped that the janitor only had minimal expenses, so he only needed a few extra passive income to get out of the rat race.  But then again, he also did not let his meager paycheck affect his willingness to invest in income-producing assets.  Even when the deal was “too big” for a janitor’s income, he still managed to face his fears and take advantage of the opportunity.  In short, he invested in income-producing assets and when the market turned up, he sold those assets and got a hefty sum that allowed him to invest some more.

The doctor, on the other hand, wasn’t doing bad financially at all.  In fact, he actually acquired more properties, earning him more passive income than the janitor.  How many? A lot more, I would say.

Why then was he not able to get out of the rat race?  Reason? He had a high expense.  That high expense spelled the difference.  Because of the high expense, he needed to do a lot more than the janitor.  Whereas the janitor needed only 2 properties to get out of the rat race, the doctor was only half way to getting out after acquiring about 10 properties.

It appears a story like this happens only on fairy tales.  A happy ending.  A triumph of David vs Goliath.  But the message is clear.  It isn’t so much about how much money you make.  It is also about how much you spend, and how you invest the difference so you can get out of the rat race faster.

Taking this important lesson to real-life, here are things you can do to help you get out of the rat race.

1) Take charge of your cashflow

As my good friend Jay Castillo mentioned in one of his popular articles, you should become the CFO (Chief Financial Officer) of your own financial life.  You have to treat yourself as a business enterprise.  You have to look at your finances from an eye of a business tycoon.  How much money is coming in (salary, side businesses, investment income, etc), how much money is going out (rent, food, car, starbucks, etc), and how you are going to invest the difference.

2) Take the right mindset

Having the right mindset will help you build the right money habits which will lay out a good foundation to your financial journey.  It is not about getting rich quick by taking advantage of other people.  Nor is it getting rich winning the lottery. It is not about getting rich being a crook, or a dishonest politician, or an evil-villain in movies or soap operas.  It is about being rich with integrity and honesty by providing value to a lot of people.  It is about being rich so you can bless more people.

3) Take baby steps

One of the most dangerous things you want to get your mind off is the idea of winning a one-time BIG-time fortune.  It just doesn’t happen that way.  Take baby steps.  You start small.  You learn.  You grow.  Once you learn the lesson, you’ll be able to handle the responsibility when the BIG fortunes come your way.  Having the BIG fortune when your not ready can even be detrimental to your growth.  Ask any of those who won the lottery and ended up poorer a few years after winning.

4) Take your time

Be patient.  It will not happen overnight.  It takes time to learn the right mindset, to develop yourself to be able to do the things that you need to do to provide value to other people.  You will go through a lot of discouragements.  But all people who have accomplished great things have gone through trials.  It just makes the victory even sweeter.  Just like wine, the longer the wait, the tastier it becomes.

5) Take responsibility

One thing all great people have in common is that they take responsibility of their results.  If you fail, it’s your fault.  If you succeed, it’s also your fault.  There are no excuses.  We are dealt with the same lemons every now and then.  It is up to you to take those lemons and turn them into a lemonade.  It’s never a question of being lucky or being dealt with a fair amount of challenges.  Time and time again, the thing that makes people great is never in the amount of challenges they have to face.  It is in the realization that they have a tremendous power to take on those challenges, if only they believe in themselves enough and the God who made them.

Go out there and be rich with honesty, integrity and humility.

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Tales of the Cashflow 101 Games Part 2 – Lessons Learned

Last April 3, I had the priviledge of hosting our second session of Rich Money Habits’ Cashflow 101 games.  This time, at The Old Spaghetti House (TOSH) Restaurant at Robinsons Forum, EDSA Pioneer, Mandaluyong City.

There were two great news in this session of Cashflow 101 game compared to last time —

First and foremost, all participants got out of the rat race.  Congratulations to the participants!  Yehey!  Granted, it took some time for some of the participants to get out.  In the end, however, when one of them finally got out, like magic, everyone followed suit and got out in no time at all.  It could be because they saw that getting out of the rat race is indeed possible.  Everyone focused on making more passive income from then on so they too can also get out of the rat race.  In hindsight, I realized that this is also true in real life.  The more like-minded people you surround yourself with, the more people will support you and cheer you on as you go for your dream of financial freedom.

Second, we had the luxury of time and we were able to enjoy the game without getting kicked out of the restaurant.  The first time I hosted a Cashflow 101 game in Tapa King Edsa Central, we were kicked out because apparently playing cashflow boardgame is prohibited inside the restaurant.  We were lucky the caretaker still allowed us to play the game if only for a couple of hours.  But when the guard saw us, the caretaker didn’t have any other choice than to request us to stop playing, even though we weren’t done yet…just when the participants were now beginning to see how the cashflow 101 game works.  I felt really bad for the participants and promised myself never to allow a similar experience to happen again.

Hosting the second cashflow 101 session had its own challenges but the fact that everyone got out of the rat race was a reward in itself.  It was a gratifying experience witnessing the participants get out of the rat race and cross over to the fast track.  Seeing their spirits come alive and become animated as they celebrate their personal victory is truly an amazing experience.

After the game, I asked the participants what realizations they’ve had while playing the game.  Here are 5 lessons they’ve willingly shared that I am now passing on to you so you too can learn from them as well.

1) It’s OK to start all over again. 

One of the players over leveraged and got into debt so much so that he was already paying more money than what he was able to earn.  In short, his expenses was greater than his income.  Whenever he passes by the “Paycheck” cell, instead of receiving income, he now shells out extra cash to pay out his debts.

Needless to say, this led to his downfall as he eventually filed for BANKRUPTCY.  After declaring bankruptcy, he had to sell off all his assets for half the price.  After selling his “assets” off and paying his debts, he finally got into a positive cashflow situation.

That means, he had extra money at the end of the month again.  The surprising thing was, after getting rid of his “asset” he was actually better off.  He had lots of cash and he didn’t have to pay every month for his “asset”.  What he considered to be an asset was actually eating him alive because of the HUGE loans, causing him to file for bankruptcy.

Does this sound familiar?  I think this is very similar to the housing crisis a couple of years back, and still being felt up to this day.

2) It’s OK to borrow money as long as your asset is paying for it.

One of the most popular advise you will get is to NEVER borrow money.  And it certainly is a wise advise, especially if you are still learning your way to financial literacy and you don’t have the discipline to pay off what you owe.

The surprising thing was, because of the law of leverage, those who bought assets turned out to be in better position to take advantage of opportunities when the market changed.  For example, in the game when someone draws out a market card, it could turn out positive changes to the players.  Someone may be looking to buy for a new house.  And because you have the property, you get to sell it to him.

Of course, it is not always as rosy as it sounds.  One time during the game, someone drew a catastrophic market card — a financial crisis, if you may.  Tenants could no longer pay rent.  Everyone who had 3 bedroom/ 2 bath houses was affected and the owner had to let go of their properties.  Ouch.

3) It’s OK if you want to play it safe, you can still get out of the rat race

One of the players was very conscious about getting into debt, even though it was only a game.  At first, she was focusing on the paycheck and wanted to earn more, feeling safe with the money that she had.  She avoided debts as much as possible and ensured she always had extra cash at hand.  She occassionally invested in mutual funds and stocks throughout the game.

In the end, even she was able to get out of the rat race.  She didn’t have to quit her job.  In fact, after getting out of the rat race, she now has the option to still do what she’s always done.  But the good thing is, she’s no longer tied to her job anymore.  She can quit anytime she wants, and the passive income will still be able to cover her monthly expenses.  Isn’t that great?

The lesson? You can still get out of the rat race even if you’re afraid of debts.  You don’t have to despair if you find out you’re afraid of risks.  You can still get out of the rat race.

Of course, while the game went on, she had to shift her focus from paycheck to opportunities.  One time, she was even complaining why she landed on paycheck instead of opportunity.  At the time, she was almost out of the rat race.  One small deal was enough for her to become financially free.  In that context, it’s understandable why she wanted to land on another opportunity instead of a paycheck.

4) It’s OK to give away what you seek the most

It is sometimes counterintuitive to give away what you seek most.  Your tendency is to keep what you have for as long as you can.  In reality, however, keeping it to yourself does more damage to you because of the feeling of scarcity that you’re telling your mind.  Instead, do what one of the players did.  Here’s how.

The same player who went into bankruptcy had the habit of donating to charities, even when he was financially struggling. The surprising thing was, he eventually managed to get up and get out of the rat race even with the bankruptcy.  The fact is, he even surpassed and got out ahead of some of the other players. 🙂

He mastered the flow of money by starting to be generous with what he had. It is truly mind boggling how things fall into place when you set your priorities straight.

5) It’s OK to be the last one to get out of the rat race

It doesn’t matter whether all other players are already out of the rat race, although I might say, it can be demoralizing sometimes.  When that happens, know that we all start out somewhere.  Perhaps, one was able to get out of the rat race faster because she had only minimal expenses.  Or perhaps, she took advantage an opportunity and the market rewarded her investments.  The important thing is YOU are able to get out of the rat race.  It is your personal victory.

It’s inevitable to compare your results with other people.  It’s just what we normal humans do.  But instead of living your life in despair, use that motivation to be inspired instead.  You can say, “if they can get out the rat race, it only means, I too can get out as well!”.  Keep the positive attitude up, and sooner than later, you too will celebrate your day of financial freedom. Cheers!

Readers, have you played Cashflow 101 game board?  What other lessons can you add into the above list?

P.S.  Ready to play cashflow 101 in real-life?  CLICK HERE to email me.

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10 Real-Life Money Tips From Playing Cashflow 101 Gameboard

A couple of weeks ago, my wife and I played Cashflow 101 game board as a special bonus to the first 10 who bought my ebook guide Rich Money Habits – 8 Ways To Shift Your Money Habits and Be Rich. I was excited because I haven’t done anything like this before in my life.  I first learned about the Cashflow 101 boardgame around 2005 when I read Rich Dad Poor Dad book of Robert Kiyosaki.  Ever since reading the book and finding out about the boardgame, I had a yearning to play Casflow 101.  The only problem — the boardgame costs quite a bit, around PhP 10,000.  And being a struggling employee facing credit card debts, I didn’t have that amount of money then.

One day, while reading through the Entreprenuer’s forum, I learned that someone is holding cashflow 101 games at AIM Makati City.  Even though the price is quite expensive (at that time) at PhP 800 for a 4-hr workshop, I grabbed the opportunity right away.  I enjoyed the game so much I played again (and paid another PhP 800).  It was a real learning experience, realizing that there’s a different world of money out there I’ve never recognized before.

When I went to the US a year after, buying a Cashflow 101 board game for myself was one of my main goals.  So when I got back from my 6-month stint in the US, I didn’t hesitate to buy the game and bring it home with me to the Philippines.  I immediately played the game with my family and friends.  Everytime I play, I learn something new —  how to analyze a deal, how the cash flows for every event that happens in your life, etc.  The most important realization I got was recognizing my own attitude about money.  Am I generally conservative?  Or agressive? Am I the type who goes into debt and takes advantage of the power of leverage? Or am I contented just watching other players enjoying making deals left and right while I am still afraid to take advantage of the small deals even though it is only play money.

It’s been months since the last time I played Cashflow 101 game. While playing the game this time around, there were many real-life lessons that came flashing through my mind that I wanted to share with you.

Here are the top 10 real-life tips I’ve re-learned while playing Cashflow 101 again.

1) Having a High Income Does Not Mean You Are Wealthy

One of the players had a profession of a doctor.  He had a hard time getting out of the rat race because of the high expense.  He had to be really be creative and financially savvy to generate a lot of cashflow to cover the high expense.  Contrary to popular belief, high income doesn’t necessarily mean you are wealthy.  Even with your high income, a high expense will leave you little cashflow (aka Paycheck) at the end of the month. Unless you turn that casfhlow into income producing assets, you will have a hard time getting out of the rat race.   What does it mean?  You need to manage your expenses and be creative if you want to achieve financial freedom.  You cannot rely only with your high income.

2) Being Creative Is More Important Than Being Knowledgable

In real-life, what you know is only potential asset unless you apply it.  And the only way to apply what you know is by being creative in using the knowledge that you have to find solutions to other people’s problems.  Getting into good debts to buy a real-estate property can be a good strategy, provided you know how to manage that property so it gives you extra cash at the end of the month.  For that to work, you need to understand your market, your cash flow and equip yourself with the necessary financial intelligence to make the deal work.  Good deals are everywhere.  However, those with creative minds have an easier time recognizing those deals because they invested the time to learn to spot those deals.  To be creative, you need time and effort.  Time to feed your mind data to recognize good deals from bad, and effort to battle through the emotional learning to make it work.

3)  You Can Be An Ordinary Teacher and Beat A Doctor From Getting Out of the Rat Race.

Sometimes, having a lower income can be an advantage, provided you also have lower expenses.  And because you have lower expenses, the less passive income you need to generate to get out of the rat race.  In real life, this is easier said than done.  One because, sometimes, even with the low income, the expenses are even higher.  You end up borrowing money from other people just to pay for the food you eat.  Other times, you are discouraged with living each day from paycheck to paycheck.  If you play the cashflow 101 boardgame, realizing this important lesson will give you hope.  If only you know how to manage what you have, you have the power to get out the rat race sooner than you think.

4) Be Careful What You Focus On

What you focus on expands.  If you focus on problems, you will see problems.  If you focus on opportunities, you will see opportunitites.  In playing Cashflow 101 board game, there’s a trap that a lot of beginners frequently fall into — i.e. focusing on your paycheck.   When you receive your paycheck, you glee in delight as you bring your token over the yellow cell.  As you accumulate more and more money, however, you begin to hunger for more opportunities instead, to the point where you no longer want to fall into a yellow cell (paycheck)…You now want to land on an opportunity everytime! When this happens, celebrate because you have just started to shift one of your core money habits. You are now focusing on opportunities and going beyong just receiving a monthly paycheck.  You are no longer a slave of the 15th or 30th days of the month.  Now, you are looking for small deals and big deals so you can build those assets that produces income.  Keep it up and soon financial freedom will be yours.

5) Every Event In Your Life Impacts Your Cash Flow

Lose your job.  Have a baby.  Go on a shopping spree.  Buy an opportunity.  Donate to charities.  They all impact your cash flow.  They either add in to your expenses, or to your income.   However, they don’t have to stop you from building your asset and minimizing your liabilities.  You still have the power to determine how it impacts you.  At the start, I pulled up a doodad card where I had to pay more than what I have in savings.  I had to borrow money from the bank just to pay for the “vacation”.  When you get in this situation during a game, it’s a bit discouraging because you don’t have any money left and you don’t have anything to invest.  You have to wait for your next paycheck to get back into the game.  The reality is that a lot of people live this kind of lifestyle in real-life but they don’t have a clue that one false move (a.k.a. losing your job) can lead them into financial disaster.

6) The More You Play The Game of Money, The More You Recognize Opportunities Around You

I’ve played the game many times, and because I’ve read and re-read the cards on deck, I know what small deals and big deal opportunity cards are out there.  I know what’s possible in terms of market going frenzy over houses, stocks or businesses.  I do believe the same applies to real-life.  The more you learn about what’s possible, the more you are able to expand your consciousness and focus on those opportunities.  By taking advantage of those opportunities, you give your self a chance to gain your own financial freedom.

7) Take Action and Take Advantage of Opportunities 

Watching others make a move doesn’t do you any good.  Take action.  No matter how small.  Each baby step is a giant leap to your dreams.  You never know when the next wave is going to hit and carry you to your goals.  I’ve played the game since 2005, and yet I am still learning.  The only reason I learned what I know is by taking advantage of the opportunities that life gives me.  I don’t always make money, sometimes I even lose some.  But the more I go through all those experience, the more I gain the confidence to move forward.

8) Luck Favors the Prepared Mind 

Opportunities are flashing before your eyes every second of every day.  You only need to train your mind to see those opportunites.  The reality is that it takes time to build your mindset to see those opportunities.  It took me years to finally see that earning money aside from your job is indeed possible.  But without the constant exposure to financial lessons, I doubt if I even had the courage to start the Rich Money Habits blog.

9)  Money Attracts Its Own Kind

Even the smallest passive income can turn into big amount if you put your heart and soul into it.  In reality, there’s only one asset you actually have – YOU.  You are the asset.  You determine whether something becomes an asset or a liability.  A perfectly viable business like Mang Inasal can be profitable if the owner knows how to turn it into an asset.  If the same asset is transferred to someone who doesn’t know how to manage a food business, and doesn’t have an inkling of an experience running a business even as small as a food cart, the same asset can turn into a liability.

10) YOU are the asset

Even the smallest passive income can turn into big amount if you put your heart and soul into it.  In reality, there’s only one asset you actuall have – YOU.  You are the asset.  You determine whether something becomes an asset or a liability.  A liability can turn into an asset, and vice-versa.  A perfectly viable business like Mang Inasal can be profitable if the owner like Edgar Siap knows how to turn it into an asset.  If the same asset is transferred to someone else who doesn’t know how to manage a food business, and doesn’t have an inkling of an experience running a business even as small as a food cart, the same asset can turn into a liability.

Keep on dreaming. Keep on learning. Keep on Believing.

Cheers!

Allan

P.S. If you’re searching for ways to practice what you learned in Cashflow 101 in real-life, CLICK HERE to email me.

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5 Surprising Truths Google Adsense and Launching an Ebook Taught Me About Earning Money Online

I’ve wondered a few times whether I’d share this information to you or not.  I hesitate because the topic of earning money online invoke different emotions from different people.  One of my main goals in this blog is to be as transparent as possible but my fear of being taken negatively is getting in the way.  Today, I’m taking a leap of faith to share with you what I learned trying to earn income from Google adsense and launching an ebook to help inspire you in your own financial journey.

Google Adsense

Last week, I was able to finally claim my very first $100 Google Adsense earnings.   That’s after 1 year and 5 months.  The $100 minimum threshold was actually reached by the end of January but Google takes another month to compile everything to have the necessary payment issued.  Here’s a picture of the payment.

While trying find the yellow receive money form of Western Union, I was surprised at first because the form was a bit different that what I expected.  It’s now smaller than what it was previously.  I filled-up the new form anyway and gave it to the Western Union agent.  In less than 3 minutes, my money was handed out to me in cash.  Hassle free.  Of course, I had to bring two IDs (my driver’s license and employee ID) for identification purposes as well as print out the payment details in my Google Adsense admin page but that’s pretty much it.

Why am I sharing this to you?  Simple.  It took me 1 year and 5 months to earn $100.  Hardly exciting.  But when you think about it, this is purely passive income.  I didn’t have to create or ship any product, hire employees or even actually sell anything.  All I did is copy-and-paste an html code provided by Google upon signing-up for FREE to automatically generate Google ads.  Whenever someone “clicks” on those ads, I get an income paid by the advertisers of those ads. Google tracks and manages every part of the process.  All I do is copy-and-paste the code once and forget about it.  After reaching the threshold, I received the $100.60 amount from Google. It’s a relatively small amount, but being able to earn it passively is mind bloggling.

How it all started…

A few years ago while still working as an Overseas Filipino Worker (OFW) in Malaysia, I started writing about my thoughts on money and investing and published them here at Rich Money Habits (you can check out my old articles at the archives section).  In March 2009, I got interested in the potential of making money online and tried putting Google adsense ads into this site.  After 8 months, my Google adsense earned me a whopping total of $1.08.  🙂

For some this was a very very small amount.  And it is!  That’s just enough to buy a small burger.  But one thing that got stuck in my mind from earning that small amount is the realization that I can actually earn money online — it is indeed possible!  That helped inspire me to try to learn about how to do it more effectively.

I really didn’t know much about Internet Marketing then, so when I found out from attending Bo Sanchez’ Financial Coaching Seminar that Jomar Hilario is offering an Online Internet Marketing Mentoring program, I grabbed the opportunity right away.  From Jomar’s Online Mentoring program, I learned that you can display the Google ads in a certain way to maximize your Google earnings.  I did apply some of it and noticed my Google earnings start to grow.  It really suprised me because after a month of applying those lessons, I now earned $6.10! Still not that huge, but it is now more than 5 times what I earned in 8 months figuring it out by myself. 🙂

This could have been higher if I bombarded this blog with Google adsense to the point where you cannot read the articles anymore, but as I mentioned in one of my previous articles, I decided early on that Google ads will not be the main focus of this blog.  For as good as the “passive income”sounds, there are still some things that are worth more — that is helping you read through the articles without disctractions, so you can focus and absorb the money and investing tips better.

Rich Money Habits Guide Ebook

Rich Money Habits 3D book coverLast February 17, I launched my very first ebook guide Rich Money Habits – 8 Ways To Shift Your Money Habits and Be Rich.  Because it was my first time to publish a paid product, I didn’t know what to expect.

What if no one buys?  Am I asking for too much?  What will other people say?  I had all these fears and the more I thought about it, the more I realized that these ideas are only in my mind…they reflected my own internal struggles that I had to battle through.  I had to refocus my attention away from my own fears.

There was only one question I had to answer — “will this help other people?”  My short answer was a definite YES!  And because I created the product from beginning to end and applied the same ideas myself, I know how valuable it is.  But I still didn’t trust myself enough.  I had to go and ask other people, specifically those who have read the same information through my newsletter…and the feedback was overwhelmingly positive.  It was enough to give me the courage to actually launch the ebook.

Launching the ebook was my own little experiment.  And it’s aligned with one of my goals this year to earn $100 monthly income passively from at least 3 income streams.  I wanted to share with you the results (so far) not to brag, because there’s nothing to brag about, but to help inspire you to take your own journey as well.  Here it is.

Total guides sold: 15

Total sales: $118.38 USD

Affiliate share: $8.97 USD

I am not a best-selling author and I don’t claim to be one.  I am just like you, an ordinary person still working full time as an employee looking for ways to bring value to other people and earn income without having to spend so much of my time…because in reality the bulk of my time is still being consumed by my full-time job.

5 Surprising Things I Learned from Launching My Ebook

1) Comparing Ebook Earnings vs Google Adsense Earnings.  The $100 amount was reached in just a week after it was launched.  For a moment, I realized the same result ($100) was achieved a lot faster compared to Google adsense!  1 week vs 1 year and 4 months!  It’s hardly a comparison.  Of course, Google adsense pays only in cents while the ebook is priced at $9.95 initially.

2) The value of launch.  As expected, the bulk of the sales (80%) was made on the launch day itself and continuing on to the next day.  After that, the sales began to taper off in the next few days.  Now, it’s 1 guide sold every other day.  Which is not disappointing considering that this is now purely passive income.  I don’t have to do anything anymore.  Everything is being taken cared of by e-junkie, my shopping cart provider.

3) Being true to your customers. One buyer sent me an email asking when will the book delivered.  After receiving the email, I was surprised.  Suffice it to say, I didn’t expect it and was confused at first.  One, because I was selling an ebook, not a hard copy version.  And two, because I was totally clueless that the book description was misleading people.  I checked my site again and realized that there’s actually no specific mention that the guide is sold as electronic copy only (i.e. ebook) and there’s no paper-based actual hard copy to be delivered.  After calling the buyer, I figured out the miscommunication right away and promised to fix the problem.  Unfortunately, I couldn’t ship a hard copy book to the buyer so I decided to do the next best thing.  First, I decided to refund the payment immediately.  Also, I gave away the ebook, including the bonuses to the buyer for FREE to help compensate for the inconvenience.  Last and more importantly, I had to go and modify the description of the Rich Money Habits package to say that the buyer will get an ebook, not an actual hard copy paper-based book to prevent other people from facing the same problem.

4) Facing your fears by taking action.  One surprising thing I learned from the whole experience is that — “your fears are not as scary as you might think.”  My fears didn’t materialize.  Someone actually bought my ebook.  That alone gave me the confidence to think that this could actually work.

5) All the support that you need is nearer than you think. Some of my friends were delighted when they learned that Bo Sanchez wrote the Foreword to my ebook.  The reality is that Bo Sanchez wasn’t even paid to write the Foreword.  And I didn’t even have to meet him in person to make the request.  One night, while thinking who should write the Foreword for my ebook, I asked myself this question — “if there’s one person in this world that you look up to and would like to write the foreword to your ebook, who would it be”.  There’s only one person that came into my mind — Bo Sanchez.   I learned a lot from Bo Sanchez so to have him write the Foreword would really be the greatest thing in the world for me — a seemingly impossible dream at that time.  I hesitated because I felt my own insecurities cropping through my mind.  Thoughts like “who am I that Bo Sanchez would take the time to write to foreword of this ebook?”was making my own personal doubts stronger.  But I started writing the email anyway…and at the last second, I closed my eyes and took a leap of faith by clicking the send button.  The next day at 9AM in the morning, I got the surprise of my life.  Not only did Bo Sanchez read and replied to my email — he even wrote the Foreword and included it in his email reply right away, no questions asked!  Wow!  To say I was happy is an understatement.  I was wearing a very wide smile the whole day!  🙂

Throughout this journey of trying to learn to earn income through the internet, I’ve met a lot of interesting people and learned a lot along the way.  But my journey is only just beginning.  I am still a long way from financial freedom…but I’d like to think I am inching towards my goal each and every day.  My wish is that this article help inspire you in your own financial journey.

Cheers to your financial success!

Categories
Business Life Updates Make Money Online Money Mindset Personal Finance

Rich Money Habits Ebook Guide is Now Live!

Just a super-quick update.  My very first ebook guide Rich Money Habits – 8 Ways To Shift Your Money Habits and Be Rich is now available.  You can check it out at this link:

http://www.richmoneyhabits.com

WARNING: There’s a time-sensitive early-bird bonus for the first 10
who buy the ebook.  Special introductory price is only available in
the next 72 hours.

To your success!
Allan

P.S. If for any reason, you are unable to access the link above,
you can go directly to the following link:

http://www.richmoneyhabits.com/rich-money-habits-8-ways-to-shift-your-money-habits-and-be-rich/

Categories
Business Life Updates Make Money Online

Rich Money Habits Guide Launching: Latest News

Things are moving pretty fast right now with the launching of my very first ebook guide Rich Money Habits – 8 Ways To Shift Your Money Habits and Be Rich.  I just wanted to take this time to give you a quick update…

As mentioned in my last article, we now have an official launch date and time:

** Thursday, February 17th at 7:00 PM Philippine Standard Time **

As I write this, it is just a little less than 24 hours away.

It has been a long road, and I still have a few details to share with you, but it’s going to be a huge relief to get this launched and get it into my readers hands.
In the mean time, you can watch this countdown page as we get closer to launch —

http://www.richmoneyhabits.com

It will automatically redirect you to the order page once we start taking orders.
Also, if you missed the last couple of articles where I gave a little bit of background on what this project is all about, you can read them here

In case you missed it, there are two important things mentioned in my last update:
1) Reserve your copy now to get in the priority list to get huge bonuses and discounts.

One thing I haven’t mentioned in my last update is that there’s a special bonus discount EXCLUSIVE only to those who reserved their copy.  It will NOT be available to everyone else.  After my last update, the response from our readers have been overwhelming and a lot of them have have reserved their copy already.  Don’t miss out on this golden opportunity.  By the way, did I already mention that there’s a very very special surprise BONUS for the first 10 who will be buying the Rich Money Habits ebook guide?


2) Become an affiliate to earn 50% commission!


Get the chance to earn 50% affiliate income for referring this incredible resource to your friends! Signing-up as an affiliate automatically qualifies you to join the Rich Money Habits Guide Contest where the first 10 affiliates who are able to successfully refer a sale will receive one of the 10 best-selling business and personal finance books below delivered to their doorstep free-of-charge.

10 of the Best Business and Personal Finance Books of All Time

Straight From My Own Collection

To Be Given Away!

 

One Minute Millionaire by Mark Victor Hansen and Robert Allen (HARD BOUND) The Success Principles by Jack Canfield (HARDBOUND) If You Want To Be Rich and Happy Don't Go To School (PAPERBACK) How To Identify and Invest in the Hot Stocks of Tomorrow by Michael Moe (PAPERBACK) Increase Your Financial IQ by Robert Kiyosaki (PAPERBACK) Your Money or Your Life (PAPERBACK) Why We Want You To Be Rich by Donald Trump and Robert Kiyosaki (HARD BOUND) How To Get Rich and Think Like a Billionaire by Donald Trump (2 IN 1 HARD BOUND) Multiple Streams of Income by Robert Allen (HARD BOUND) Ready Fire Aim by Michael Masterson (HARD BOUND)

* All books above are actual hard copy version (6 HARDBOUND, 4 PAPERBACK) from my own book collection

Lastly, I wanted to give you a chance to get a sneak preview of the Rich Money Habits Guide.  Click the link below to checkout what makes this book really really special.

http://www.richmoneyhabits.com/sneakpreview

If you’re an affiliate, feel free to forward or share the sneak preview of the Rich Money Habits guide to your friends and contacts.

That’s all for now.  I am so excited I am hardly getting any decent sleep the past few days!

Let’s get it on! 🙂

 

Cheers!

Allan

 

P.S.  What are you waiting for? Reserve your copy to get HUGE discounts and/or sign-up as an affiliate now, promote the Rich Money Habits guide to your friends and get a chance to win one of the 10 Best Selling Business and Personal Finance Books of All Time!