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!

How To Tutorials Money Mindset Personal Growth

How To Overcome Fear of Failure and Analysis Paralysis

Have you ever felt like it’s taking you forever to make progress? Have you experienced playing out all the scenarios in your head for so long you ended up getting exhausted without having done anything yet to get you out of your situation? I was in a similar scenario a few years back…After working for almost 9 years as IT consultant, enduring all the stress and demands of work, I finally got fed up.  I wanted CHANGE to happen in my life.

Way back 2003, I read the book Rich Dad, Poor Dad and it started to CHANGE the way I viewed the world of money.  I felt like a new door was opening right in front of my eyes…and I was beginning to enter a new world I never knew before.  Ever since then, I’ve read lots and lots of books by the same author Robert Kiyosaki.  When I got sent to the US for a 6-month stint in my company, believe it or not, my “balikbayan box” was full of books about financial literacy like Multiple Streams of Income, Nothing Down, and other books by Robert Allen.  I even bought my own Cashflow 101 Board Game (around P10,000 when converted to peso) at that time.  I was a business book junkie.  I was reading up a lot on business.  But I had nothing to show for it.

Over the years, after coming back from the US, I was still reading up on a lot of business books.  It became like a hobby for me that whenever I went to the mall, I would always checkout what’s new in the bookstore.  That went on for years…when I resigned from my first job and pursued a career overseas, going to bookstore became more frequent.

After a while, I felt like I was getting nowhere.  I had these gazillions of ideas in my head it was about to explode.  And still…I had nothing to show for it.

When I came back to the Philippines in 2009 after my 2 and half years stay overseas, I started to get to the next level of learning.  From reading books, I then went on attending seminars.  My wife and I were beginning to explore how we would be able to grow the money we saved up from overseas.   We first attended Bo Sanchez’ Truly Rich Seminar.  The funny thing was, we were already a member of the Truly Rich Club at that time and we already had a video recording of the same seminar.  But I insisted to attend the same seminar in person.  That’s when I first met brother Bo Sanchez.  It’s true, when you get to meet the people you look up to, you get star-struck a bit.  My wife and I then attended the Truly Rich Financial Coaching…and then months after, the Truly Rich Entrepreneur’s Workshop.  I went on to enroll in Jomar Hilario’s Online Mentoring Program afterwards. I also attended Money Summit and Wealth Expo seminars almost every year.  There are lots of other seminars and workshops I’ve attended since then. You could say I was a seminar junkie, or what my friend would call a “seminarista.”  Again, at that point, I still did NOT have anything to show for it.

I was starting to get frustrated with myself for not being able to put them to use.  I was NOT able to apply the knowledge to create financial results for me.  I felt like my patience was really being tested.

Then something happened.

I started to feel DISGUSTED with my lack of results.  I was AFRAID of failure and of what others might say, but the lingering feeling of DISAPPOINTMENT and FRUSTRATION was now BIGGER than my fear. At that point, I could finally say to myself ENOUGH is ENOUGH, I was now willing to accept the consequences of whatever decision I made.  Whatever ACTION I made, even if it FAILED, I would still LEARN something.  ANY KIND OF RESULT, EVEN IF IT IS FAILURE, IS BETTER THAN NO RESULT AT ALL.

TIP #1 – Be Disgusted With Your Current Results

There’s just one thing I know that can get you out of your COMFORT ZONE…You have to be DISGUSTED with what you have and where you are RIGHT NOW…You have to tell yourself this is NO LONGER OK.

That helped me get the courage to start something.  Back then, my wife and I were looking for a SAFE investment…and the safest we could try was in Retail Treasury Bonds (RTBs).  We got a 7% interest rate.  We invested a portion of our porfolio there…and that started it all.  The next thing we know, my wife and I were already investing in real-estate…and then in stocks…and then moved on to other more rewarding ventures afterwards.

It’s true, until you feel like you’re still ok with your situation, the easier thing to do is ignore it.  Most people want to do something to change their situation.  But reality sinks in.  They say, “I need this job to pay my bills.” Or say to themselves silently, “perhaps, this is not so bad…I can still ENDURE this.”

It is a trap.  They say most companies pay just enough so that their employees won’t quit their jobs, and employees do just enough in order not to get fired.  It’s a sad thing to think that you are not giving it your all in something.  We only live once.  The day you feel like you don’t have a choice is the day you lose your freedom to live the way you want it.

You must first come to grips with the reality that YOU WANT SOMETHING BETTER FOR YOUR LIFE.

Unless you can say to yourself that this is no longer working…and ENOUGH IS ENOUGH, you have not reached the point where you are convinced that you NEED TO DO SOMETHING DIFFERENT to change your situation.

TIP #2 – Learn to dream BIG DREAMS

But something was still missing. It took me quite some time to figure it out.  I was already investing in stocks, bonds and real-estate…but I felt like my learning was lacking in something I couldn’t put my finger on.

I was COMFORTABLE with what I had…a nice job, a beautiful wife, a stressful but financially rewarding career, but I felt like there’s more out there I haven’t been able to reach. After a while, you will get to the point where you have STOPPED DREAMING…and the HUNGER is gone.

I remember watching Steve Job’s commencement speech in Stanford say, “Stay Hungry…Stay Foolish.” I did not get it at first.  I wasn’t sure why you had to stay hungry…and why stay foolish? But when I got comfortable, I came to realize that life can be so BORING if you don’t have DREAMS to pursue anymore.  Staying HUNGRY is the key if you want to succeed.

One of my mentors, Simon Chan said, “Success is a let down, the thrill is in the pursuit.”

Don’t get me wrong.  I am NOT ultra-successful yet.  It just so happened that I had SMALL dreams…and they were starting to get fulfilled one by one.  I was someone who was easy to please and did not need to have a lot of things to be contented.  I learned later on that the key is to be contented with what you have…but never be contented on who you can become.

Being disgusted with what you have NOT only applies to a life of hard reality.  You need to be disgusted, even if you’re already comfortable, by realizing that YOU HAVE YET TO FULFILL YOUR FULL POTENTIAL.  Your disgust will PUSH YOU up to your dreams…but you need BIG DREAMS as well, to PULL YOU UP!

BIG DREAMS gives you the energy to get up in the morning with a spring on your feet.  It gives you that EXCITEMENT to look forward to the future with hope.  BIG DREAMS gives you something to pursue and realize your highest potential.  Sometimes, it’s not even so much about being able to reach for your dreams…it’s also about WHO YOU BECOME in the process of reaching for it.

Tip #3 – Just Do It

Like the tag line of a famous shoe brand said, you “just do it.” There’s no trying.  There’s just doing it.  For example, when you need to go to the bathroom, do you “try” to go to the bathroom? Do you analyze if you’re going or not? Of course not! If the call of nature calls, you JUST DO IT! 🙂

Some people put off doing something because they are waiting for PERFECT TIMING. Here’s the truth.  There is NO PERFECT timing.  The traffic lights will not be green all at the same time.  You have to just do it.  The path to success is a zigzag, not a straight line.

All successful people have one thing in common – they have STRONG BIAS TOWARDS ACTION.  They love acting on their ideas.  Even if it fails, they are still grateful.  The famous inventor Thomas Edison was asked after inventing the light bulb on his 1,000th try…he was called on to the 999 failures he had before, to which he responded, those were not failures…each of those, he said, was one way he found out how NOT to invent a lightbulb.  He was not afraid to fail, for he knew that each result was a step in the right direction.

Sometimes, the fear of failure is only inside our minds.  It’s uncanny how people are able to do the same ordinary things easily without pressure…but when pressure kicks in, all hell breaks lose.  There’s getting your memory blank when asked a 30-second question on national television.  There’s the time when you can’t sleep the night before a big event for fear of not being able to wake up on time.  There’s the heart beating so fast you can’t hardly think straight upon meeting the girl of your dreams.

Nothing changed in the situation except how you made it BIG in your own mind.  The thing is, you can always change how you think of it, it is after all just inside your mind.  You have CONTROL over it.  Make it ordinary.  Have faith.  Sometimes, all you need to do is close your eyes, and let go.  Just do it.

P.S. Tired of the results you’re getting? Do you feel you deserve more if only you are able to channel the same dedication and commitment to something more financially rewarding? Do you want to take action now and CHANGE your life for the better TODAY? CLICK here to email me. Let’s schedule some time to discuss and see if we can work something out to help you stop analyzing and start getting towards your dreams.

P.P.S. If you want to get to know me better, you can still add me as friend through my personal page at  I can still accept up to 3,100+ friends until Facebook stops me from adding some more.  If you only want the business tips, you can like my Facebook Fan Page @ and receive tips from me there.

Powered by Qumana

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.

Powered by Qumana

Life Updates Money Mindset

Rich Money Habits is being re-built to serve you better…

Hey there!

Thanks for visiting Rich Money Habits by  My blog got hacked a few days ago and my old hosting account was cancelled as a result…I thought this will also be a good time to overhaul the whole Rich Money Habits blog so please be patient if the rebuilding takes quite a bit of time.

Anyway, I hope to have the site up and running as soon as possible so you can enjoy the helpful money tips and articles once again.  While waiting, I encourage you to consider signing-up to my newsletter by filling-up the form below and receive the 8 ways to shift your money habits and be rich email series.  It’s totally FREE!

God bless you!


Allan Inocente

Business Investing Life Lessons Money Mindset

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.

Powered by Qumana

Life Lessons Money Mindset

5 Reasons Why Time Is Gold

I’ve never really undestood what the saying “Time is Gold” really meant until I learned a little more about the world of money.  Time is an abstract concept that doesn’t really exist, just like money.  But the sheer mention of the word ignites a lot of emotions from different people.  Those without it, are stressed out.  Those with a lot of time on their hands are either bored or dreaming.

While pondering this old saying, I realized there are actually 5 things that explain why time can be considered Gold.

1. You can never get it back

The only thing in this world that you cannot get back (aside from life itself) is time.  When you’ve spent 30 minutes of your time, you can not get it back, however you desperately want it.  You can invent the greatest time machine all you want, but at this point in human evolution, there’s just no way of turning back time.  That’s why the emotion of “regret” is very powerful.  If only you could turn back time somehow, you would give everything just to have it.

The ironic thing is, all the material things we trade our time for can be taken back.  I know of someone who lost her home to foreclosure, but managed to get it back years after because of her determination.  Donald Trump, the billionaire real-estate magnate lost a lot of money, but managed to get it all back and more.  Unlike material things, once time passes you by, you can never bring it back.

2.  You only have 24 hours in a day

This is really an amazing equalizer.  Everyone gets the same chance at life.  We all have 24 hours in a day.  Even the richest people on earth only have 24 hours in a day.  The poorest of the poor also have 24 hours in a day.  The only difference — they use their 24 hours very differently.

If you don’t like what your life is right now, there’s only one thing you need to do — change the way you spend your time.  You don’t need to place your hope in winning the lottery, or deceiving other people for your own financial gain.  You can get rich with integrity by learning to value your own time, and valuing other people’s time as well.

3.  You can trade time for money

You can trade your time for money.  How? Simply get a job and watch the next 40 years of your life traded for a monthly salary?  How much is your time worth?  Are you earning enough?  Is your time worth that much?

It doesn’t matter whether you are CEO or an entry-level employee, you still trade your time for money.  When you don’t go to work, you stop earning.  Unless of course, you are investing that time to build your own business, or investing your earnings on income-producing assets, that, hopefully someday allow you to hire other people to do the work for you and you can then spend your time playing with your kids, doing the things you love to do.

4.  You can leverage your time

Why is it that even though everyone only has 24 hours in a day, some people can get a lot more done than others? Reason? Leverage.  Henry Sy employs thousands of people to run his business empire.  By so doing, he multiplies his time by thousands.  With that thousands of hours, millions is earned by his businesses each single day.

Compared that into a one-man show employee.  His single-handed efforts, without any form of leverage, can only get to 24 hours, no matter how strong or skilled he may be.

5.   You can make the most of what you have

The hard truth is that your time is limited.  You never know when your time will end.  But one thing is for sure, you can make the most of the time that you have.

Spend your “golden” time with your loved ones.  Take care of them.  Enjoy what life has to offer.  Remember that we are just passers by in this world we call life.  When you live your life by the moment, you leave a long-lasting impression into the lives of other people…and your life’s meaning would be fulfilled.

P.S.  If you are searching for ways to earn passive/residual income so you can enjoy more time with your family, CLICK HERE to email me.

Powered by Qumana

Life Lessons Money Mindset

The Single Biggest Lie You Need To Overcome If You Want To Start Your Own Business

Ask any of your friends if they want to start their own business someday and a lot would say yes.  There’s a certain enigma to starting a business that a lot of people associate it to risk-taking and entrepreneurial individuals who overcame huge obstacles in their journey from rags to riches.  While this may be true for some, starting a business is not always as rosy as it sounds.

If you are one of those few lucky souls who want to start your own business someday, you’re up against all odds.

They say 9 out of 10 businesses fail in their first 5 years.  And out of those left standing, 9 out of 10 would have failed after 10 years.  That’s the reality you have to overcome if you want to see your own business see the light of day.

Have you ever felt that your dream of owning your business is already over even before you get started?  That’s what I felt when I heard the sobering statistics.

But why really do most people haven’t started their own businesses yet?  Their most common excuse?  Not enough capital.

The interesting is…not only is this a myth, it is a blatant lie.  It may be by far, the biggest obstacle you have to overcome if you ever want to start your own business one day.

For one, if you need a lot of money to get started, then no one would have been able to grow their business from rags to riches.  Jollibee didn’t start out in day one as 100 stores! Not even Henry Sy is good enough to have an SM Megamall when he started.  How did they start?  They started small.  Jollibee started as a small ice cream parlor.  SM was small shoe store.

Most people who make the excuse of not having capital to start their own business is making a disservice to themselves.  It’s plain old excuse.  It’s as if it’s the only thing they need to actually succeed in business.  It could be the farthest thing from the truth.  If you want to succeed, having a lot of money may even be detrimental to your business’ growth.

A lot of starting a business is solving problems.  If you have a lot of money, you have to go against the temptation of throwing money at your problem.  Without money you are forced to be creative in solving that problem.  Your creative juices is nurtured like a muscle going for an exercise.  The more you exercise, the more you become good at it.  The more you become good at it, the more your business will grow.

One rags to riches story I remember from the Truly Rich Entrepreneur’s Workshop I attended last month was about a young guy who started with PhP 100, fought against all odds and became a Multi-millionaire.  He didn’t have a lot of things, but one thing he had was his passion for cars.

One day, after having little success at school, his parents gave him PhP 100 as his last allowance.  With his back against the wall, he thought about how to start a business using only that PhP 100.  Because he was passionate about cars, he thought of opening a business around fixing cars.  The only problem, he didn’t know how to fix cars.

How did he solve this problem?  Simple.  He asked his friend who knew how to fix cars become his business partner.

With a new business partnership formed, the next problem he had to solve was to look for clients.  To solve this, he went out to the parking lot of a mall, looked for high-end cars which needed fixing.  He used a portion of his PhP 100 to come up with a flyer and slipped them into the car’s windshield.  Out of those flyers, 5 people called him up and he was able to close a deal with 2 of them.  He and his friend used the remaining money from the PhP 100 to go to their client on board a taxi.

Left without any money, they had another problem — they didn’t have the necessary tools to fix the car.  Solution?  They asked for a down payment from the client and used that to buy the tools.  And the rest as they say is history.  He was able to franchise the car fixing business system and now earns PhP2 Million peso from that business alone.

You see, it takes a lot more than just capital to start your own business. You need passion.  You need specific skills most especially sales and marketing.  You need a brilliant team around you to help you achieve your business goals.

I am not saying having money is NOT good.  What I am saying is that you need to stop making excuses and start doing what needs to be done if you are really serious about starting your own business.

Stop reading.  Go do something.  Starting your own business cannot be learned from reading books alone.  Like riding a bike, you can never learn it watching by the sidelines.  You have to actually ride on your bike, fall a lot of times, and get back up to try again..and again.  And once you learn and able to balance yourself, it will be the greatest feeling you’ve ever felt in your life.

P.S.  If you are searching for a home-based business you can start part-time with minimal risk, CLICK HERE to email me.

Powered by Qumana

Business Investing Life Lessons Money Mindset Passive Income Personal Finance

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.

Powered by Qumana

Business Investing Life Lessons Money Mindset Personal Finance

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.



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

Powered by Qumana

Business Life Lessons Life Updates Make Money Online Money Mindset Passive Income

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!