Categories
How To Tutorials

How to Start a Business While Working As An OFW

In 2007, I went abroad together with my then fiancee (now my wife) to work as IT consultant in Malaysia. My main goal for working abroad then was to save up for our wedding. After 1 year of working we saved enough and were able to get married.

Unfortunately for us, we were also in the middle of recession. It’s 2008. There were mass layoffs all over the world. Working in a bank, our company was no exception. Our friends were let go in a snap of a finger.

One day, one of the bosses asked my officemate for a minute to speak with her. When she came back, she was visibly shaken. Soon after she was already packing her things. She was just fired. It was after all a recession.

When there is a recession nobody is immune to geting fired.
Even if you are the best employee and you just got promoted.
You cannot do anything if the whole department or even the whole office in your country is laid off.

The next few days (weeks and months) was pure terror for us OFWs. I can remember the feeling of UNCERTAINTY. The feeling of not knowing whether it would be your turn next is the worst feeling in the world. Getting fired is one thing, but becoming suddenly unemployed overseas is a disaster. Sleepless nights. Stress. Lots of stress.

For many people, this uncertainty is even more brutal. There are Filipinos overseas who are not documented. They were supposed to work as caregivers only to end up working as a domestic helper. Not that there’s any shame in that. It’s just that they are more at risk for abuse from their employers due to them being undocumented. You can only imagine having your worries and stress shoot up 100x!

Fortunately, the dust soon settled. The company was able to endure the storm. My wife even got absorbed by the company. Our contract was renewed for another year.

Everything was back to normal again.
But experiencing something like that wakes you up llike nothing can.
From that day onwards I promised myself to never put myself in a position like that ever again.

That I would do everything in my power to put myself where no one can suddenly turn off my main source of income. That’s when I started to explore the world of business and entrepreneurship with an extra vigor.

Fortunately, I was able to make it. I want to tell you there is a better way. It can be done. There is help on the other end when you finally decide to change your situation.

They say OFWs are the new heroes. They keep our economy afloat. They remit $2.5 to $2.9 Billion every month. They are the main drivers of our economy, apart from BPO, Electronics exports, Agriculture, the BUILD BUILD BUILD infrastructure spending by the government and of course, our Taxes.

Today, I want to salute the millions of Filipinos working away from their families. It is no easy task, sacrificing every moment away from your loved ones. That’s the price you are paying (and more.) With that sacrifice you are able to send money (and gifts) to your family back home, especially during Christmas season.

I won’t make you cry anymore by sending you a link to the Coca Cola commercial featuring former OFWs who went home for Christmas. Please don’t torture yourself by googling it or going to youtube and watching that video. It’s too personal. Please don’t. You might end up crying the whole night.

I know because I cried when I watched it.
Just know that your family back home miss you so much too. One day, it will soon get better.
There are just so many great things and stories of people who were able to make it.
Perhaps, one day your story will be next.

In the meantime, here are some of my ideas and thoughts that might help you get closer to your dream
of coming back home for good. You can put up a business while working. Or set yourself up so that the transition back home will be as smooth as possible.

A few months ago, I did a VLOG series dedicated to OFWs. This was after doing a 3-day training and workshop on Financial Literacy and How to build a sustainable business to our associates there. Everytime I meet an OFW, my heart bleeds for them. It’s not an easy journey they are taking.

If you are an OFW, I encourage you to watch these videos. Or if you have a family who’s working abroad as an OFW, you can forward this to them. I also have great news for you and free gift I’d like to give you and your family and friends.

Vlog #14. USAPANG OFW Series – Bakit Maraming Naga-abroad na Pinoy

Vlog #15. USAPANG OFW Series: Negosyo Para Sa Mga OFW o Pinoy Na Nasa Abroad
Vlog #16. USAPANG OFW Series – Paano Mag-ipon Ng Mabilis As OFW?
Vlog #17. USAPANG OFW Series: Best Investment Tips Para Sa Mga OFW

Vlog #18. USAPANG OFW Series: OFW Business Ideas – Why Do OFWs Fail in Business?

When I was working abroad, I was so eager to learn more about how I can do business. On weekends, I would go to the bookstore, and read through many business books. Then I would hear some seminars in the Philippines, but unfortunately because of the distance I could not attend, even if I badly wanted to.

Fortunately for me, the Truly Rich Club was launched around that time. It gave me a way to avail of the seminars and learn about business while still working abroad. I was one of the first to enroll. I would eagerly wait for the package (which consisted of some VCDs and audio CDs.) I would listen to it day and night. The rest, as most people would say is history. I can’t even imagine to describe to you how different my story would have been if not for the Truly Rich Club. In fact, this blog would not be where it is today if not for that seamingly simple decision to try it back then.

If you want to avail the same thing, you can CLICK HERE.

In the spirit of transparency, please note that I am an affiliate of the Truly Rich Club. I may earn a little income whenever someone buys anything through the link I provided. If you do sign-up, I would like to say my personal thank you in advance. Drop me a message here and I’ll send you a free gift.

Your simple action helps me support this blog because it does take away some time from me instead of putting the time and resources into other businesses. Unlike other blogs which earn from advertising, this blog is 100% fully supported by my other businesses (and affiliate income from products I highly recommend.)

It’s been 12 years running this blog, thanks to those who have supported me along the way through my businesses. Who would ever thought this blog would stand the test of time?

Also, as my way of saying thank you to all of you my OFW readers (as well as families and friends of my fellow OFWs), here’s another gift just for you.

Simply click here or go to http://bit.ly/OFS2019FreeGiftAllan to claim your free gift.

You will receive a free copy of Sha Nacino’s book “My Money and Me” in e-book format. The hard copy of the book is being sold at around P350 in National Bookstore and at The Feast. Another book is from her brother March Nacino titled “How to work from Anywhere” which I feel is a good fit also for OFWs.

Sha is a very good friend of mine. We met in real-estate as part of a group of aspiring investors back in 2009. We have since moved on to other ventures but I feel what Sha offers is something I can definitely recommed.

In the spirt of total disclosure, please note that these gifts are part of the Overseas Filipinos Summit project of Sha which I am also an affiliate for. Know that I may earn a little income should you decide to buy anything using the link I provided. But if you decide to not buy anything and simply avail of the FREE gifts, that’s perfectly ok as well. 🙂

That’s it for now. Do you have a specific topic or question as an OFW? Simply hit the reply button (if you are receiving this through email) or contact me here. I might feature you in my next article or vlog.

Categories
Uncategorized

7 Credit Card Fees You Need to Manage

Note: In an effort to help you in the area of getting out of debt, this is a guest post from Ricky of Moneymax.ph. There is nothing more frustrating than receiving your credit card statement and seeing a fee that you are not aware of. You feel like being robbed in daylight. In the same way that ignorance of the law excuses no one, making yourself become aware of these fees is a significant step in protecting yourself. Awareness is the first step in taking control of your finances. Read on and enjoy.

7 Credit Card Fees You Need to Manage

By Ricky Publico

It’s a great feeling once you receive your first credit card. But before you go on a swiping spree, take the time to actually understand how a credit card works. For one, using a credit card means spending money you currently don’t have, which also means you will eventually pay for the items you bought.

More importantly, there are credit card fees you should watch out for. Aside from your monthly credit card bill, you have to take note of these fees and learn how to manage them. Taking note of these fees will also help you choose the right credit card for you.

Annual Fee

The annual fee is basically the membership fee you are required to pay for owning a credit card. It usually goes from an affordable PHP 300 to an extravagant PHP 12,000, depending on the type of credit card you have. Premium cards typically have higher annual fees while standard cards typically don’t reach PHP 500, so pick your card wisely.

There are also banks that offer credit cards with no annual fee, either for the first year or for life. Try applying for these banks so you can have one less credit card expense to worry about. If it can’t be helped, opt for a credit card with a lower annual fee or a bank that waives their annual fees for clients with good credit standing. Ask your current bank if they have such an offer.

Cash Advance Fee

Did you know that you can also withdraw money using a credit card? It’s helpful when it comes to emergencies, but it also comes with a price. Cash advance fees usually go from PHP 300 to PHP 600, or 2 percent to 5 percent of the amount borrowed, whichever is higher.

As much as possible, minimize your cash advances. Since this fee doesn’t have a grace period, your bill will continue to accumulate if you don’t manage it properly. If you took out a cash advance, make sure to pay it back in full to avoid snowballing the interest.

Late Payment Fee

As an incentive for cardholders to pay their credit card bills on time, banks began charging a fee for late payments. It usually ranges from PHP 300 to PHP 850, depending on the bank. The late payment fee will then be added to your next bill.

Avoid paying a late payment fee by paying your bills on time. It’s also better if you pay your monthly balance in full, not just the minimum amount due. That’s also another thing about credit cards: you can pay the minimum amount instead of the entire monthly balance. Do the former to avoid further debt.

Balance Transfer Fee

If you’re having trouble paying off your credit card debt, you can choose to apply for a credit card balance transfer. This involves transferring the balance of your old credit card to a new one with a lower interest rate. This makes it easier to pay off your credit card debt. The transfer itself comes with its own fee, ranging from PHP 100 to PHP 250 per approved transfer.

Overlimit Fee

Credit cards come with credit limits, or the amount of money you’re allowed to borrow from your credit card provider during a billing period. Once you go over the limit, they will charge you with an additional fee, usually ranging from PHP 300 to PHP 750 for every overlimit.

Foreign Currency Transaction Fee

You can use your credit card when traveling abroad, but there will be a foreign currency transaction fee worth 0.85 percent to 3.525 percent of the amount spent converted to PHP. Fortunately, there are credit cards with no foreign currency fees. It is advisable to get this type of credit card if you travel a lot.

Pre-Termination Fee

If you can pay back your credit card debt before your loan term ends, that’s great! Just take note of the installment pre-termination fee ranging from PHP 300 to PHP 500 or 2-5% of the remaining balance, whichever is higher. The fee might be a bit steep, but paying for it and freeing yourself from debt is way better than finishing the installment plan.

Hopefully, this list of credit card fees can help you manage your credit card habits. A good rule of thumb is to not swipe on something you can’t afford with cash, so always give every swipe some thought.

Author’s Bio: Ricky Publico is a content writer at Moneymax. Save money on car insurance, credit cards, and loans when you compare and apply at www.moneymax.ph! Visit Moneymax to know more.

 

 

 

 

 

CREDITS: Photo by Ryan Born on Unsplash

Categories
Uncategorized

Survey says…I was surprised to find this out

Last month, I sent out an email to all my subscribers asking for help in a little survey for this blog. I wanted to get to know more of you, my dear readers and how I can help you better.

First of all, THANK YOU to all those who answered the short survey. I appreciate all of you taking some time to give me your inputs inspite of your busy schedule. That’s why I made sure to spend even greater effort in reading each one of your responses individually.

Today, I’d like to share a bit of what I learned from the survey. Obviously, I won’t go into each and every response but will speak in general terms instead.

One thing that surprised me most was that majority of you reading this blog are currently employed full-time (83%.) Only a few are running their own business/es full-time. This came quite a surprise for me because I have been out of the corporate world for more than 8 years. I thought I would attract people who are in a similar situtation as mine. I was mistaken.

With this information, I realized that I will need to focus on topics that are more relevant to your situation. Perhaps, give tips on how to manage your time (and family) while building a business on the side, or what businesses you can start while being employed at the same time, and more.

With that in mind, I’m sharing you here a few of my youtube videos on these same topics. Each one is about 10-minutes long in Taglish (Tagalog-English). My hope is that it gives you a glimpse on how it is to shift your way from being an employee to that of an entrepreneur, or be able to do both at the same time. By the way, if you are not yet subscribed to my youtube channel. You can click the subscribe button and the notification bell while you’re at it so you’ll be first to be notified of future videos.

Vlog #19 Employee vs Entrepreneur Mindset
Vlog #20 Employee vs Entrepreneur Time (Task) Management
Vlog #21 Employee vs Entrepreneur Papaano Magnegosyo Kahit Empleyado Ka
Vlog #22 Employee vs Entrepreneur How to Upgrade Your Psychological Wallet
Vlog #23 Employee vs Entrepreneur Usapang Time Freedom
Vlog #24 Employee vs Entrepreneur Usapang Passive Income

As for financial goals, most of you would like to start a side hustle (38%) and get out of debt (38%.)
This information helps me re-direct my focus in talking about topics related to getting out of debt and starting a side hustle, or feature stories of people who were able to manage to do the same. I already have a few ideas in mind on how to go about this, but if you have some suggestions for specific questions or topics you want me to start with, feel free to contact me.

There are many more things that I learned from your stories and inputs. I wish we had more time and space to talk more about it. But there will be a time for that. We are just beggining.

Again, I would like to say my deepest thanks for helping me with the survey. Thank YOU very much for helping me give a direction to this blog.

Cheers to your financial success!

Your friend,
Allan

P.S. If you’re looking to start a side hustle, you can visit Bo Sanchez’ 4-part video series at www.hustleseries.com As an attendee of The Feast Bay Area AM Session under Bro Audee Villaranza, I was able to attend a couple of sessions from the series. The link contains BONUS videos on top of the main talks. You will be asked to enter your First Name and Email to watch the videos. May the videos bless your financial life.

P.P.S. CREDITS: Photo by Garrhet Sampson on Unsplash

Categories
How To Tutorials

8 Things You Need To Know Before You Quit Your Job

Recently, I celebrated my 8th year being out of the corporate world.
September 30, 2011. That was my last day at work.

It’s amazing how life’s twist and turns can bring you to beautiful experiences and destinations.
It’s easy to look back now and connect the dots. But truth be told, I was scared back then.

I can still remember like yesterday, the self-doubts and sleepless nights I was feeling.

“Kaya ko ba to?”

“Itutuloy ko na ba talaga?”

“Posible ba talagang mabuhay na hindi aasa sa trabaho?’

You see, I turned over my resignation 3 months prior to my last day.
My employer requested to have a 90-day notice because the project we were working on was critical, and they wanted to have more time to look for someone to replace me.

Not wanting to cause too much trouble, I obliged with their condition. I was on a contract anyway, and the last day at work would be exactly the day my contract ends.

Looking back over the past 8 years, I’ve learned so much about the intricacies of deciding to quit your job. To celebrate, I’d like to share the top 8 things you need to know before you quit your job. It might help you decide if you are contemplating about leaving the comforts of your corporate career.

1) Yes, it’s possible.

Yes, it’s possible to live a life without a job.
It’s possible to do it on your own. It’s scary. It’s uncomfotable.
And if you have hesitations, understand, that how you are feeling is very normal.

A month before I was about to render my last day at the office, I learned that my wife and I were expecting our first baby. I was so happy and excited at the same time. But at the back of my mind, I hesitated whether to push through with my resignation or not.

It’s easy to make a decision if you’re only thinking about yourself.
But when you start being responsible for another person’s life? That’s a different story.

I asked my wife one last time whether to push through or not, and she simply answered,

“ikaw? kaya mo pa ba ng isa pang taon na ganon pa rin ang sitwasyon?”

She was referring to the stress and restlessness I was feeling. It’s been years of me contemplating whether to resign or not. I knew I was no longer growing in my IT career. I’ve been doing the same thing for 9 years.

I knew all the ins and outs of the system I was working on. I love the work, but I feel I am no longer learning anything new. On top of that, my stress was mostly due to dealing with bureaucracy and office politics. There were instances where I simply wanted to have more time in my life.

One thing I disliked is the feeling of being bullied. When they say you have to work on a weekend or you have to do overtime work, or increase the workhours to compete with other companies, you simply had no choice but to go with the flow.

What other option could you have?
Complain? Whine? Quit?

I really felt it was now or never. I could no longer stay and endure for another year.
Finally, I did it. And I never looked back.

2) There’s no such thing as a safety net

“When do you know? When do you know you can already quit your job?”

I often get asked this question.

Some recommend having at least 6 months worth of monthly expenses. Others say 3 months.
Some say you have to have a business that’ earning at least your monthly income from your job. Or double that.

In my years of seeing people resign, I learned that there is really no safety net.

It’s only in your mind.

The simple answer to when should you resign is, “WHEN YOU ALREADY HAVE THE GUTS TO DO IT!”

I think that for most people, the problem is not in the amount, but in their thinking.
When you are too afraid to fail, the tendency is that you will always be in a state of half-hearted commitment.

One foot is out of the door. The other stays inside.

Am I saying that you should resign without a safety net? Not really.

But I have seen people without a safety net do it, and still become successful.
I have also seen people who have lots of savings, managed to spend it all and then later on returned to their jobs. Not that there’s anything wrong with that.

Don’t let anyone else decide for you. Not even me.
Only let someone else decide for you, if they are also willing to pay your bills when you fail.

You see, it’s easy to give advice. But the true test is in realizing that we all have different situations. Different mindsets. Different paradigms when it comes to money. Some are too afraid. Some are reckless. Some overthink and when they finally decide, it only takes a day or two to change their minds.

Be responsible for your own choices. Be it good or bad. Whether it leads to success or failure.

Never explain and never complain. As they say, “SUCCESS REQUIRES NO APOLOGIES. FAILURE PERMITS NO ALIBIS.”

I have tried to live with that mantra and it has allowed me to accept both the good and bad parts of my journey outside of the corporate world.

3) Start small. Fail more. But more importantly, start now.

Can you do business part-time? Of course.

Is it easy? Of course not.
But nothing worthwhile comes easy anyway.

The tragedy for most people is they are always waiting for something.
Some people say, “saka na…” and follow up with their favorite excuse.

“Saka na, pag naging manager na ako.”
“Saka na, pag nanganak na si misis.”
“Saka na, pag nag-aral na mga bata.”
“Saka na, pag tapos na sila pag-aaral”

Before you know it, time has passed. 5 years. 10 years. 20 years.
“Saka na” becomes “Sayang na.”

If you’re going to do it, understand that in the beginning you are probably going to fail. That’s simply the law of life. Before you learned how to walk, you first failed taking your first step so many times. What did you do when you were a baby? You simply dusted yourself off, stood up and tried again. Tried again. Tried again and again, until you finally managed to take a walk and not fall down.

That’s simply how we learn as a human being. So if you are contemplating doing something on the side, the perfect time to try it is when you are still employed. I know. I know. You say, you don’t have time. And that’s certainly true to a certain extent.

You will have to make some choices on how to spend your extra time. Are you going to use it scrolling on your Facebook or Instagram feed? Or spending it working on your side hustle.

I have learned from Carlo Ople, VP of PLDT and sneakerhead Youtuber about the 7-1 principle. He says to work on your job from 9-to-5pm, but do your hustle from 7pm-1am.

Take a moment to think. Last night at 7pm, what were you doing? Perhaps you were in a commute. Were you listening to something worthwhile? An audio book about your side hustle perhaps? Or were you just “waiting” for your time to get home?

You have to trust yourself, that you will learn what you need once you start doing. As they say, “experience is the best teacher.” So get more experiences. Get more failures. Because one day, those lessons will turn your failures into a huge success.

Start now. Don’t wait. Don’t wait for retirement before you make your first mistake. Do it now. Do it while you’re still young.

They say it’s best to fail before you reach 30. Because then, you still have a lot of time to get back up. If you’re a little older like me, just know that people say “life begins at 40.” But if you are still not convinced, simply think of Colonel Sanders of KFC. He failed 1,009 times selling his chicken recipe before succeeding. He started his business at the age of 65. Age doesn’t matter unless you make it one.

4) Apply for loans before you quit your job.

This is one recommendation I learned from Jomar Hilario, the Virtual Career trainer who is also a former IT professional just like me. Get housing loans or car loans before you resign from your job. I realized afterwards why he recommends it.

You see, when you are working for yourself as self-employed or a small business owner, the bank won’t lend you money unless you can give them proof that you can pay it back. To evaluate your credit worthiness, they will ask for you business’ financial statement. Normally it would be about 2 to 3 years worth of financial history of your business. If you are just starting, you might not have this yet.

You can have your loan approved faster if you are still employed. Even if you are earning more income in your business than you do in your job, your loan may still not be approved for the sole reason that business income tends to fluctuate. The bank considers this risky. Being employed for a multinational company is less risky for they are actually betting not on you but on your company’s ability to give you the income to pay the loans.

It’s not fair, but that’s the reality we are living in. Of course, after sometime when your business is already 2 to 3 years old, you will then have the history and financial statements to back you up. I guess, it’s not really a problem when you want to pay in cash because you have a lot of income. But for big ticket items where you need to take out a loan from the bank, this is something you will have to think about.

5) The change is more than the money.

When I resigned, I underestimated the changes that were about to come.

Most people think that when you shift from being an employee to an entrepreneur, that the only thing changed is how you earn money. That maybe the farthest thing from the truth.

Soon you will realize that there’s more to it than meets the eye.

Simple things like when people ask you, “what do you do?” When you are employed, it’s a simple question to answer, you simply reply with your job, “e.g. IT consultant”

But once you are on your own, it gets tricky. In the beginning, it’s hard to explain. There’s a split second of hesitation, not wanting to sound too complicated. Once you finally embrace your new identity, you simply say “I am a businessman.”

To which a new question will probably pop up like, “what’s your business?” and the conversation will go through all the things that is relatively new to you. You grapple with words.

You can no longer introduce yourself as an IT consultant because you are no longer working as such. Much of our identity is tied to what we do. That’s why a lot of people start to have an identity crisis early in their journey.

There’ also the change in emotions you go through once you realize that you are no longer what you used to be. Your social circle will change. You will spend a lot more time with new friends, a lot less (if not totally rare) with your friends who are still employed.

You will observe later on that you no longer concern yourself with the same things as your friends. You no longer care about promotions, politics or tsimis. You simply want to have conversations about life in general.

 

6) The hardest part is dealing with your self-doubts

You start to question whether you made the right decision or not.
You start to question whether you can really make it or not.
Now that you are finally free, you are excited, but afraid at the same time.

Excited because it’s a new world out there waiting for you to explore.
But afraid too because your brain is telling you it’s dangerous outside of your comfort zone.

You are afraid what other people might say.
You are afraid what if you fail.
You are afraid what if you succeed.

Yes, some people are more afraid of success than failures.
You say, “what if I become successful and I will become a bad man?”
You say, “baka maging mayabang na ako”
You say, “baka tama sila, ‘others’ na ako.”

You are starting to get out of the feeling of “security.”
You are starting to move into the feeling of “freedom.”

What’s more important for you? The feeling of comfort and security?
Security. That’s what you feel whenever you earn your monthly paycheck.

Freedom. That’s the feeling you get when you are now finally in control with what you do with your TIME, MONEY and ENERGY.

7) Being on your own means you are 100% responsible.

One of the hardest things you will have to accept is in being 100% responsible for your life.

When you are employed, you can always defer responsibility.
You might say, “that’s not my job.”
Or “kasalanan ni x, kasi pinabayaan niya yan”
Or “si boss kasi, or si ano kasi”

The challenge is that when you are on your own, there’s no one you can defer responsibility to.
The sooner you accept this fact, the sooner you can utilize this great power.

It’s hard at first because you will be the one to decide what to work on, when to work and with whom you want to work with. At times, it can be overwhelming, making so many choices suddenly.

That’s why a lot of entrepreneurs like Steve Jobs and Mark Zuckerberg have the same wardrobe every day. They call it decision fatigue. Apparently choosing what to wear each day can put a damp into your mental energy. This energy saved can help you make better decisions that matter more, like whether to fire thousands of your people or come up with a solution that does not involve firing people.

8) There is no substitute for hardwork

I can still remember the first day I was finally out of the corporate world.
I thought there will be fireworks. Or it would feel really great.
The truth is, I felt sick. It took me 2 weeks to recover.

It’s as if all of my stress for the past 9 years suddenly came out.
It’s surreal to think that it’s already been 8 years since that day.
But I never regretted that decision.

Yes, there have been moments when I thought of going back.
Yes, there were moments when I did try to go back.
I applied for a job, but it didn’t push through for one reason or another.

Eventually, when I decided to no longer go back, I simply said, “if I am not going back anyway, might as well make whatever I am doing now work.”

I remember a story where a friend of mine, after being in business for a few years went back to visit her former boss. Her boss congratulated her and said, “I am happy that it worked for you.” To which she said, “of course sir, it worked for me because I worked hard for it.”

There is no substitute for hardwork. Whether you work at a job or being your own boss or building your own business, or expanding your sales career, it really does require hard work. Lots of hard work. Hard work that makes you cry at night. Hard work that makes you want to give up. Hard work that makes all worth it in the end. They say, “easy come, easy go.” When you work hard for it, you will keep it.

Be prepared to work hard. But do remember that nothing goes to waste. There will be moments when you question yourself whether what your doing even matters, or making a difference to other people. When that happens, take a moment to breath. Say to yourself, “what I am doing makes a difference.”

Be a difference maker. You will never know until you try. So take a deep breath. Take courage. Pursue your bliss with a heart.

P.S. If you are contemplating building a side hustle or you are working your way out of the corporate world. Let’s connect and explore the idea together. Perhaps my 8 years of experience might be of help to you. CLICK HERE to message me.

P.P.S. When I was working as IT consultant in Malaysia, one of the hardest part was not being able to attend seminars in the Philippines related to business or other side hustles. That’s when I learned about the Truly Rich Club. If you’re based abroad or in the province and want to have access to materials to learn more about building a side hustle, you can join the Truly Rich Club.

 

 

Categories
Truly Rich Club

Truly Rich Club Wealth Conference 2019 Part 4 of 4: Rex Mendoza’s How To Become Rich While Being An Employee

Note: This is the last installment to the 4-part series on the Truly Rich Club Wealth Conference 2019. Here are the links to the first 3 parts of the series:

 

Rex Mendoza’s How To Become Rich While Being An Employee

The last speaker was Rex Mendoza. He made his money in the insurance industry and later moved on to other industries. He talked about becoming rich while being an employee.

Are there employees who are rich? Yes, definitely.

While I agree with this, I certainly had reservations simply because I know for most of employees they cannot imagine becoming rich. I’ve worked in the corporate world for 9 years. I know that there’s a limit to the scalability of your income when you are an employee.

You will have to build a different skillset if you want to climb up the corporate ladder. You have to learn to play the game of office politics and all. You have to learn how to work with a team and become a leader. You have to sacrifice your time for a lot of family occassions. You go through a lot of stress, but the most critical is in having little control on how you want your career to go. Often, you are left with the option to quit your job or stay and suck up even if you don’t like it.

But one thing that struck me about what Rex Mendoza talked was about the MINDSET shift that needs to happen if you ever want to become rich as an employee. He asked the critical question that you need to ask yourself, if you are working as an employee right now. The question is…

…are you getting paid for your TIME?
or are you getting paid for the RESULTS you create?

That’s one of the most classic distinction of an entrepreneur from those working only as an employee. You see, most people are content getting paid on their time. You wake up in the morning. You go to the office. Sit on your desk. Work your way until the office hour ends. You brave the rush hour traffic going back home. And tomorrow, you repeat the same routine again. In return, the company pays you based on how many hours you put in. Nothing more, nothing less.

In the beginning this is all fine and good, until you realize that it is never going to be enough for the long term. We only have 24 hours in a day. So if you are paid based on your hours, your income will always be capped to a certain level no matter what the rate you are getting paid for is.

Until you decide to break this chain where your income is dependent on how much time you have, you will always run out of money and run out of time.

What Rex Mendoza was trying to emphasize was that even if you are working as an employee, it doesn’t prevent you from thinking like an ENTREPRENEUR. Thinking like an entrepreneur allows you to see the bigger picture. It allows you to see that the only limits to your income potential is your own imagination and willingness to be responsible for RESULTS that you create.

But getting paid for RESULTS is HARDER. Why? Because you are now accountable for both the good and bad. That’s why CEO’s are paid more. Not because they work longer hours but because they take responsibility of getting the results for their companies.

If you’re the CEO and you increase your company’s income by P1 Billion. Would giving you an additional monthly income of P1M be justified? Maybe for some it is too high. But If I am the owner of the company, that is cheap! I’d even double that if you can double the company’s income even more. I’ll gladly pay you every cent if you can make that happen.

You see, without you, the CEO, making the right decisions, I would lose the P1Billion in earnings. I would rather pay you P1M/month to get P1Billion income, than not pay you P1M/month and lose the P1Billion.

This happens on a smaller scale in many small businesses. Even the little details like having to hire a household help can create a big impact into your business results.

Do you pay your household help the pay she deserves? Or do you decide to just do it on your own to save? You think you are saving P7K a month by doing it yourself, but if you have the ability to earn P100K in a month, you are actually losing money. You let “saving” P7K rob you off earning the P100K that you would have earned.

Looking at the numbers it’s easy to brush it as common sense. But if I learned anything about money in my years of teaching personal finance to my business associates, it is that money is 80% psychological and 20% technical. When it comes to money, our decisions are often dictated by our emotions rather than our technical know how. This is precisely the reason why I could not agree more on what Mr Edward Lee said in our last article about psychological traumas.

You see it is easy to see the numbers work out. But in reality, we all have our own doubts if we really can make it happen.

What if you fail? What if you can’t earn more than P7K a month?
What if your household help doesn’t do her job well just like how you can do it?

Do you feel the need to be secure? Are you afraid to let go of your fears?

For some people, it is easier said than done. But for the successful people that I know, this is an easy decision to make.

If you are not prepared to take responsibility for the RESULTS, whether it will be good or bad, then you will feel stuck in the moment of indecision. Most people would rather stay where they are, rather than risk the possibility of becoming successful. They are too fearful of what others might say about them. Creating and taking responsibility for your RESULTS, inspite of what others might say takes a little more than numbers. It takes boldness, courage, and willingness to fail.

Are there employees who become successful? Of course, there are.

But usually, these are people who have taken responsibility not only of their own results, but the results of the people they lead. They rise to leadership positions. They have specific skills they were able to develop.

According to Mr. Rex Mendoza, here are the 3 skills you need to develop if you want to become rich as an employee:

  • Harness the talent of your people
  • Extract the experience of the people you lead
  • Steer the whole team in a single direction

As you develop yourself, it is critical to develop your INFLUENCE or POWER in order to better lead your group. When you do this, your team will have the resources to do their best and overcome obstacles. The 3 levels of influence are: 1) Authority, 2) Expertise, and 3) Relationships. You can leverage all these 3 to enhance your ability to lead your team effectively.

At the end of it all, the buck stops with you as the LEADER. You can delegate responsibility, but you can never delegate ACCOUNTABILITY. You are accountable for the RESULTS no matter what.

In a recent video about the state of STARTUPs in the Philippines, it came to my attention that one of the reasons why our country lags compared to other countries in the region like Indonesia, Singapore, Vietnam, etc. is the lacking entrepreneurial culture in the Philippines. Most people still see themselves as that of an employee. Very few have the courage to venture out on their own, and become entrepreneurs. Yes, there’s the lack of government support, etc. but culturally we are a nation of people who simply wants to earn and willing to work. We understand the value of hardwork. We hardly complain. We are very resilient.

Perhaps in the future, this will change. We have a lot of problems in our country that need solving. However, this might takes some time. As the change is not a simple case of simply flooding the country with more money, but a shift in CULTURE and MINDSET. Succeeding as an employee requires a different skillset than that of an entrepreneur. In the end though, what matters is that you are making a difference in the world.

Becoming rich is not the end goal, it’s only a means to an end. What matters will be what you did with what you have. Did you bless the world with your work? Did your riches blessed more people? Did your story inspire people to make this world a better place? Did you fulfill your divine purpose in this world? Because in the end THIS is what matters. We are all the same after all, both rich and poor, employee or entrepreneur. As they say, “at the end of the game, the king and the pawn go into the same box.”

P.S. I hope you enjoyed this 4-part series we had about the first ever Truly Rich Club Wealth Conference. If you want to get updated on the next events, get wealth strategies, inspirational talks and stocks investment guides, and more, you can join the Truly Rich Club. Simply CLICK HERE to join.

P.P.S. Recently, I was on a 3-day business trip to Tacloban City, the home of the happiest and most resilient people. My day was full-packed with meetings, trainings and coaching on personal finance, building a sustainable business, and more. On the side, I was able to visit the San Juanico bridge, the longest bridge in the Philippines (and 2nd most in Asia?), MacArthur’s famous “I shall return” landing, Sto Nino Shrine, the former president’s grand mansion in Leyte, and more. The food was delicious. The people are very warm and welcoming. I super enjoyed my stay. CLICK HERE to watch my 32nd youtube video to see a glimpse of what I do. If you have not done so, I encourage you to watch the other videos on my channel as well, talking about different topics as millionaire mindset and habits. Please subscribe to my YOUTUBE channel as well while you are at it. Thank you in advance. 🙂

P.P.S. I’m curious to know your story. Feel free to hit reply and message me. I read ALL of your emails to me and respond to each one of them personally. Who knows? I might even feature you here in this blog in the future.

Categories
Truly Rich Club

Truly Rich Club Wealth Conference 2019 Part 3 of 4: Edward Lee’s How Your Psychological Trauma Dictate Your Stocks Investing Decisions

Note: This is the 3rd installment to the 4-part series on the Truly Rich Club Wealth Conference 2019. If you missed the 1st and 2nd parts you can read them here and here, accordingly.

Have you asked yourself why is it that you do what you do, inspite of what you know?

Have you experienced situations where you felt guilty for buying stuffs, or wonder how come you cannot seem to make enough money, even though your working so hard?

Have you ever wondered what differentiates successful stocks investors from those who fail and lost a lot of money in the stock market?

These are hard questions to answer. Most people would simply dismiss the answer as luck. Or tsamba. Or what have you.

Good thing I was able to attend the 3rd session of the Truly Rich Club Wealth Conference because the talk gave me the answer to all these questions.

The speaker is no other than the Chairman of COL Financial, the largest online stocks brokerage firm in the Philippines, Mr. Edward Lee. He is a Billionaire businessman, one of the business mentors of Bo Sanchez.

I first came to know him during one of the Financial Coaching seminars of Bo Sanchez back in 2009. I have since invested in stocks as well. I even shared some of the basic tips in a video shot by my wife in one of my talks in UP Diliman back in the day. From what I remember, he’s a humorous speaker with lots of stories to tell and I can still remember some of the stories he shared back then.

This time though, I felt he was a bit more serious. I don’t know if it’s because his talk was done in pure english, or perhaps his topic was indeed quite serious.

One of my main take aways I got was his talk on PSYCHOLOGICAL TRAUMA. He told stories growing up in a family who supported him emotionally inspite of him having problems in school. He grew up thinking that money is easy to make, and he has the confidence to make money anytime and anywhere.

He said that what most people lack is the FINANCIAL CONFIDENCE to make it.

He shared a quote from Dan Lok which said that defines FINANCIAL CONFIDENCE as “having the confidence that you have the skills and ability to make money anytime, anywhere.”

He said people are driven by 4 main emotions: Hope, Fear, Greed and Desperation. These emotions dictate the markets. All crashes and boom are driven by these emotions.

His advise is, in whatever you do, Be the Best. When you do that, people will find you.

What’s your psychological roadblock?
1) Trauma
2) Parental Pressure
3) High Standards
4) Broken Family
5) Absentee Parent

Over the years of working in my business and dealing with different kinds of people, I can say this is certainly true. Some people have absentee parents or deep issues with their fathers. Growing up, they were looking for validation in everything that they do. They lack the emotional assurance that they badly need. That’s why their decisions financial or otherwise, seems to be beyond logic.

As you know, your decisions are driven mainly by your emotions. Only when you come to know how these deep emotions have built up over the years in someone’s life will you understand why they do what they do. It’s hard sometimes to watch someone with lots of potential, making wrong decisions over and over again, simply because he was programmed at an early age to seek for validation, rather than focus on doing the right thing.

So what can you do?

The first step according to Mr. Edward Lee is ACCEPTANCE. Accept that life is not fair. Surrender all your traumas to God.

Realize that we have built internal programs over the years. It will take more than an overnight or single day of training to unlearn all those things. The good news is that it can be done. Constant exposure to more empowering beliefs will allow you to replace the dark programming of the past. Your habits can change when you change your environment and the people you spend time with. You can change your life. But it’s going to take daily discipline in building your mind into a new you.

Mr. Edward Lee also shared the 3 basic laws of money:
1) Save 10-20% of your income
2) Invest it
3) Re-invest to benefit from the power of compounding

He recommends starting your investing program and believing in the Philippine growth story.
Above all, find your purpose. Be grateful for all the opportunities and experiences. Be compassionate. Be generous.

 

P.S. Be part of our business community of professionals and entrepreneurs. Let’s connect on Instagram @allaninocente.

P.P.S. Do you want to be part of the Truly Rich Club? CLICK HERE.

P.P.S. I am curious to know your story. How’s your financial journey so far? What have you tried and what are the #1 challenge you have in building money habits to make you rich? Simply hit reply and email me back. I read all the messages you are sending me. Cheers! 🙂

Categories
Truly Rich Club

Truly Rich Club Wealth Conference 2019 Part 2 of 4: Dean Pax Lapid’s Building Your House of Entrepreneur

This is the 2nd installment to the 4-part series on the Truly Rich Club Wealth Conference 2019. If you missed the 1st part, you can read it here.

Dean Pax Lapid’s Building Your House of Entrepreneur

The second speaker during the Truly Wealth Conference was Dean Pax Lapid. I first came to know him when I attended the Truly Rich Entrepreneur’s Workshop back in 2009. He has started and grown a lot of businesses in different industries and he teaches entrepreneurship in one of the biggest business schools in the country, the Asian Instute of Management. He also wrote books on entrepreneurship including the book “Go Negosyo: 21 Steps on How to Start Your Own Business.”

Dean Pax is a lively speaker. He is a teacher by heart and you can really see it on his slide presentations. They are full of details, almost like that of a textbook.

During his talk, Dean Pax told some personal stories that really caught my attention. One story he shared is about the time when he was deeply in debt. He was so depressed he was about to end his life. But God had better plans for him. He was saved from that situation and he never looked back. Imagine the number of people who would not have learned from Dean Pax and got inspired from his stories if he decided to end it right there and then.

Another story he shared was when he wanted to pass down his business to his son, but his son didn’t want it. His son wanted to work as a corporate employee. He knows fully well that the income from a job offer his son can get will pale in comparison to running their own business, but he had to accept his son’s decision amidst his own frustrations and emotional pain.

As a parent, I can only imagine how painful that might have felt like. I know I always want to do the best for my two sons. I want to provide for them financially. But Dean Pax’s story reminded me of a fundamental truth that a lot of Billionaires know. Warren Buffet, one of the world’s richest man, is donating most of his wealth to charity. I wondered why he doesn’t want to give it to his children until I realized that doing so will only hinder their children’s growth. It’s like crippling them.

Now, I work hard to provide for my kids. But I understand that ultimately, they are their own individual beings. They have their own journey here on earth and personal decisions to make. I am not about to hinder their character sculpting experiences by putting them in a situation where it becomes a hindrance instead of a blessing.

These two stories made me realize that no one is immune to having challenges in business. When you see Dean Pax with his lively antics and cheerful demeanor you would think everything was smooth sailing for him in his entrepreneurial journey. That’s why it was a surprise to me that even with these huge challenges he had to overcome he still maintains a cheerful spirit.

Perhaps, this is all part of the journey we have to make in life. Otherwise, our stories would all be boring. Nobody gets inspired by a boring story. So if you are going through a challenging situation right now, just imagine the inspiration you will share to people once you are able to overcome it. You will definitely bless many.

LIFE CYCLE OF A BUSINESS

Dean Pax also shared the life cycle of a business. The ups and downs from conceptualization of a business idea to eventually selling the business or having your own exit strategy. He shared about the challenges that a typical business goes through during the startup stages and what he calls the valley of debt. When I learned about this, I could not agree more.

I can certainly relate because I too went through similar stages while putting up my business and getting it off the ground.

It is pure hard work. I experienced having little sleep. You work so hard, you ask yourself if it’s really worth it. Then the next day, you muster enough courage and strength and go through it again…and again…and again. Inspite of all the challenges, you go at it day in and day out. You have to be a little bit insane to endure those kinds of pain.

You cling on to the idea that one day, it will all be worth it. As they say, as an employee you are overpaid in the beginning but underpaid for the rest of your life, but as an entrepreneur you are underpaid in the begininng but overpaid for the rest of your life. Most people are not able to get past through the emotions of being underpaid for a long long time..

You battle with your own self confidence and self-worth. You get frustrated with your dismal results. You go through so many ups and downs you question whether it will ever going to end.

Eventually you will learn to take everything in stride, both the good and bad. The bad times are not meant to make you fall. They are meant to sculpt your character.

Good times do come. But the challenges never end. It’s just evolves into a different one. Each stage brings about a different situation which requires a different skill to solve. You must evolve if you want to survive.

Here is a picture from Dean Pax’s talk about getting from “NOWHERE” to “NOW HERE.” It depicts the different stages you have to go through being the entrepreneur that you are.

 

You start from your COMFORT ZONE. You know you are in your comfort zone when you are feeling bored. Perhaps you are in comfortable situation. But one day you realize that you want something more. It’s normal human instinct to desire for something more. More money. More time. More happiness. Eventually, something within you is stirred up and you can no longer accept the reality of your situation. You decide to take action.

Once you realize this, you start to move into your FEAR ZONE. This is the hardest part for most people to overcome. Everyone has a deep-seated need to feel accepted. That’s why you care so much about what other people say about you. At this stage you have to face those fears upfront. When you are able to overcome your own personal insecurities, and you muster enough courage inspite of your fears, you will soon level up to your COURAGE ZONE. The good book even says that when you have faith as little as a mustard seed, you can move mountains. You are more than what you think you are. Once you start believing in yourself, you will learn new skills, you will develop a new perspective about your business, you become a master of your craft and eventually you will elevate to your GROWTH ZONE, where all your dreams can come true.

Eventually your current growth zone will become your new comfort zone. With the new comfort zone comes boredom. Eventually, you will start to dream again or desire a new level of growth. In order to grow, you once again have to ask yourself what is it that you really want. You decide to take action. You ask yourself what is it that you fear the most. You decide to overcome your deepest fear by facing it head on and taking action. Because you understand that on the other side of fear, is your dreams waiting for you…and the cycle again begins.

P.S. Watch out for the 3rd and 4th installment of this series. We will talk about stocks and investing, as well as maximizing your potential while working for other people as an employee.

P.P.S. Do you want to learn about financial literacy? Want to be part of a community where you can learn to explore the different financial vehicles without the huge risk of doing it on your own? Join the Truly Rich Club. Click here.

P.P.S. Do you want to be mentored personally by me? Visit www.allaninocente.com/work-with-allan/ and follow the instructions listed accordingly. Many of those who worked with me have gone on to earn from $100 in a week part-time up to $8,000 a month full-time. You can read and watch the videos of their success stories here.

Categories
Truly Rich Club

Truly Rich Club Wealth Conference 2019 Part 1 of 4: Bo Sanchez’ How to Increase Your Psychological Wallet

A few weeks ago, my wife and I attended the Truly Rich Club Wealth Conference 2019 along with some friends. Since the early days of the Truly Rich Club, my wife and I were already members. We were still living in Malaysia that time, around 2007. I can still remember receiving CDs on the mailbox and excitedly opening them. It’s amazing that it’s been 12 years since then and up until now we are still blessed by the Truly Rich Club.

Today, I’d like to share a little bit about what I learned during the event. My wife and I arrived a little late. Once we sat down, the first speaker was already in the middle of his talk. It was brother Bo Sanchez. He is the founder of Truly Rich Club, a missionary preacher who has blessed a lot of people.

Bo Sanchez – How to Increase Your Psychological Wallet

The topic of his talk from what I understood was the value of upgrading your PSYCHOLOGICAL WALLET.

He mentioned the feeling of being conflicted when it comes to your finances. Perhaps you were raised in the idea that money is the root of evil. Or perhaps you think only criminals of bad people become rich. You are blinded by the misconceptions or wrong theology of money. You were raised to despise the rich. That’s why they are called filthy rich. Who wants to be filthy? Of course, no one wants to be that guy.

He narrated a story of him and a friend. They were driving in a rich neighborhood. They passed by a big house with lots of cars inside. Upon seeing the house and the car, his friend blurted. “siguro, carnapper ang may ari ng bahay na yan.” Bewildered, brother Bo said. “how did you know?” of course, it was only a small talk. Which brings the point across. How do you know? You don’t know the person. You assumed he was a bad guy by merely seeing the cars. What if he has a car rental business? and the cars are for rent.

Brother Bo Sanchez, said that some of the rich people he met were the most generous, loving people he knows.

This talk reminded me of the times I also had conflicted feelings of being rich. I am a simple kid. I was raised in the province of Ilocos, where farming is the main industry to be in. If you work hard, you can live by planting vegetables in your garden. Or you can ask malunggay leaves from your neighbour. It’s a simple life. I had no grand illusion to become a billionare or anything like that. I simply enjoyed life. But the harsh reality really sank in when I started working. After many years, I still didn’t have anything saved up. So began my curiousity about money. And as they say, the rest is histroy.

But this is not about me. It’s about the countless people who day in and day out have the same internal conflict within them. Money is behavioural. It is not technical. It is easy to make money. Most of the battles you need to overcome though are your own ways of thinking.

In this day and age of overwhelming information, most of the learning that we need is in unlearning the things we were thought growing up. You have to update the information so that your outer world of finances reflect the same inner world you have.

He also narrated about his driver who was able to save up P15,000 and was so happy. He felt rich. He felt the effect on him and his relationships. He felt like “others” now. He felt conflicted. Because becoming richer meant he had to let go of relationships that are no longer aligned to his new ways of thinking. It’s quite funny to think that having P15,000 makes you feel rich at this day and age of high prices. But the reality is that it is the same thing for most people. The amount may vary. But everyone who’s trying to change undergo the same experience. It maybe earning your first million. It maybe when you decide to put up a side hustle. Work part-time. Sell anything. Or simple attending seminars. It is one of the strangest things that sooner or later you will need to learn to accept,

Because we care so much about how other thinks of us. This is one of the hardest battles to overcome. It is really not because people change around you. It is you who is already shifted your mindset inside. You are no longer contented talking about gossips at work. You would rather watch videos about stocks or business in youtube. In fact, you are no longer entertained by the constant tele drama on TV. You are starting to feel aligned to the new you.

I felt the same when I started my business part-time. There were moments when I had to stand up and leave the office at exactly 5.30PM. In front of 200 people, I walk down the corridor and exit the office. It’s time to go and work on my business. I came early to finish my work, so it’s not like I was not doing my job. I still had to be professional enough to do my business outside my work hours.

Even though no one complained, I still felt really conflicted initially. You see, most people in my office would leave at 7.30PM or 8PM. It is just one of those things that is not said but understood by everyone else, that leaving earlier than that means you are not working hard on your job.

Eventually, I learned to overcome this feeling of being conflicted. When you are clear about your goals and what you want to do with your life, suddenly decisions are easy to make. You just have to have the emotionaly fortitude to simply stand by your own truth. And the truth to me during that time was that I was already drained, exhausted, frustrated and soulless working on my job. It was time for me to explore outside for a new career. I could no longer stay for another year without doing anything.

After 6 months of hard work, I finally decided to let go of my corporate career and go full-time in business. It is one of the scariest thing I’ve ever done. It is not easy to let go of a job paying you 6-figures a month. Even when I already resigned, I still had second thoughts whether I made the right decision or not. Later on I realized, you decide and make it right. If it is to be, it is up to me.

Brother Bo Sanchez offered 4 ways to increase your psychological wallet:
1. Dream Reminders – write your dreams. Novena to God’s love when you attend The Feast for the 1st time as a free gift. I wrote my dreams there a long time ago. Most of my dreams already came true.
2. Dream Role Models – to have a mentor. to look up to someone and pattern your life to that person until you become your own.
3. Dream Resources – join the truly rich club. read about wealth strategies. get audio books, free books, stocks updates and recommendations, etc
4. Dream Reasons – remove subconscious conflicts

Action is the best expression of your faith. Faith without action is nothing. Take small steps. Mustard seed faith + mustart seed work = unstoppable. Are you a miracle waiter or a miracle worker?

P.S. Do you want to learn the psychology of money and discover the wealth strategies of the truly rich? Do you want someone to guide you in your stocks investments? Do you want to overcome your wrong theology of money? Join the TRULY RICH CLUB? CLICK HERE to find out more.

P.P.S. Do you want to discover the secrets on how to manage your own money effectively? Join us this September 2 at Santolan Town Plaza to Francis Kong’s event on PRACTICAL MONEY MANAGEMENT. Simply hit REPLY to this email if you’re interested. Or call/text me at +63-9178034015 for more details.

 

P.P.S. Do you want to be part of a business community where you can meet other aspiring entrepreneurs? I am always on the lookout for highly driven people who share the same eagerness to learn entrepreneurial skills, business mindset and success philosophies. If you’d like to be part of my team, simply read the details on my website at http://www.allaninocente.com/work-with-allan/ and follow the instructions for the next step.

Categories
Life Lessons

Why Continuous Learning Is Important?

Last weekend, I had the opportunity to do a 2-day workshop for the leaders of our organization. During our Q&A session, I was asked about what habit has helped me create the results that I have.

The question was quite a surprise. It took me a few seconds to come up with an answer.

I thought about all the skills I have built over the years.

I thought about all the daily routines in my personal life as well as in my business.

Obviously there were so many changes over the years, both good and bad. So right away, I couldn’t pinpoint a single item that could have made the biggest impact.

Then the answer came to me.

I am a LEARNER by heart. I am always CURIOUS on how things work.

I am excited to figure things out. I geek out whenever I learn something new. It gives me a glimpse on how the world works. The moment of discovery is always fascinating. That’s why I can be perfectly fine being alone with my own thoughts.

The habit of CONTINUOUSLY LEARNING has created the biggest impact in my life.

Sometimes that means simply keeping quiet. Paying attention to what other people say and do, observing and learning at the same time.

Reading books. Attending seminars. Going through online courses. Doing things. Failing. Adjusting. Giving it another try. Succeeding. Repeating.

So why should you invest time in continuously learning?

It’s because your income can only grow to the extent that you do.
If you want your income to stop growing, you simply stop learning anything new.

Sometimes, you also need to update what you know.
What you used to know no longer work. You get frustrated, not realizing that it is you who need to change.

The most dangerous idea is in thinking you already know everything.

In my years of mentoring individuals in building their businesses, one things always comes up.

They often get frustrated for not getting the results they desire inspite of attending all the trainings. The thing is, you dont get better by training, you get better by actually applying the training. You get better by doing and failing. You get better by getting feedback and correcting.

Unfortunately, not acting is only half the equation. When you stop looking for answers because you think you already know everything, a new problem you didn’t expect will blindside you.

The danger is not found in the things you already know. It is in those things you don’t know.

Remember this. You don’t know what you don’t know.

Until someone points it out to you, you will be held back without realizing it. That’s why a mentor is crucial to recognizing your blind spots. But no one can help you if you already decided that you don’t need any help to begin with.

It starts slowly. You miss a day or two of training. Then a week, which turns into a month. Suddenly what used to be familiar seems vaguely what you used to know. Then one day it struck you. You already lost it. You don’t know how to get back.

You stoppped going to seminars. You stopped listening from your mentors. You stopped reading books. You stopped thinking for ways to improve.

When you look back what replaced all this? It’s the “busy-ness” that you think you have. It’s in those times you endlessly scrolled on newsfeeds of your Facebook and Instagram. It’s in the countless hours you spent watching videos upon videos on Youtube. It’s never ending.

That’s why it’s important to push yourself out of bed and get up. It’s important to show up even when you don’t feel like it. It’s in those moments of decisions your destiny is shaped.

One step at a time. That’s what my mentor always say.

Progress doesn’t have to be big. It just needs to be progress
So be patient when you are still far away from where you want to be.

Celebrate every milestone however tiny you think it might be.

There are 100+ books in my library, most of which I bought after graduating. But I bought only one book at a time. I didn’t read them all at once. I just let my curiousity lead me to which book I should read next, one book at a time.

I have attended seminars of Francis Kong, Anthony Pangilinan, Bo Sanchez and many more. Looking back it seems so many, but I just attended one at a time. I didn’t even plan to attend so many. I simply enjoyed learning from other people and let them lead me to a wonderful place of continuous learning.

In my business I have had the opportunity to extend the same, as I get asked to share my experiences by being a speaker to schools and events. In turn, I also learn from doing the things I am most afraid of. I get to learn from the audience and of myself even more.

Speaking of seminars, last night’s event with Mr. Francis Kong was a blast! I met a few readers from this blog during the event. It turned out they were also a fan of Sir Francis. Here’s something I learned last night. Sir Francis shared the difference of a businessman and an entrepreneur.

A businessman…
– is up to make a profit
– is self-reliant
– is competitive
– prefers strict conformance
– prefers a singular approach to decision making
– an opportunity satisfier with minimal risk
– most pre-occupied with profit factor
– profit oriented

An entrepreneur, on the other hand…
– is up to satisfy a need
– relies on network
– is collaborative
– prefers empowerment
– prefers team-oriented decision making
– an opportunity finder
– driven by strong motivation to excel
– looks for long term profit
– service oriented

I am not an expert in word semantics but I feel the point is made very clear. If you are not going to adapt to the changes in the business landscape, soon you will be out of business.

Today, there’s a great risk for businesses to fail if they are not able to adapt quickly. When that happens, a lot of people are going to lose their jobs.

That’s why it’s important to keep on learning. Changes are happening faster and faster. Today, your job can suddenly become obsolete. You can get replaced by robots or A.I. In the Philippines, a lot of BPO employees are at risk of being replaced by A.I. Think of Alexa, the “smart” assistant you always wanted to have.

With great risk comes great opportunity. Whenever a disruption happens in the marketplace, there is also an opportunity to serve in a new way. Today, anyone with a mobile phone can be in business in just a few seconds. You can see the rise of “influencers.” They are the masters of creating a following in social media, Youtubers and Instagram influencers.

So why should you keep on learning?

I don’t know about you but I think it is the only way to live. If you stop learning, you start dying.

You need to be ready for the changes that are up ahead. Continuously learning gives you the advantage to see the opportunities. It helps you see prepare. It helps you position yourself for the future to succeed!

P.S. This Saturday, I will be attending the Truly Rich Club’ Wealth Conference 2019 (WealthCon). If you are going, I’d like to meet you. See you there! 🙂

P.P.S. If you’d like to join the next Francis Kong seminar titled “Developing Entrepreneurial Mindset” on Aug 6, you can simply hit reply to this email or message me on my Facebook Page so I can send you the details.

Categories
Uncategorized

Exclusive Invitation: Francis Kong’s Business Roadmap Series: Maximizing Productivity, Developing Entrepreneurial Mindset and Presentation Skills

I first attended a Francis Kong seminar way back when I was still in the corporate world. He is a prolific speaker who captures the hearts and minds of attendees. I remembered laughing at his jokes non-stop. More than that, I was impressed by his intellect about different topics. I bought his books and devoured them.

Mr. Francis Kong is a sought-after speaker in the topic of LEADERSHIP. His many best-selling books on this topic is unmatched by any other Filipino author or speaker. Last year, I was also able to attend his signature LEVEL UP LEADERSHIP SERIES Workshop. The last part of this 3-part series is priced at around P25,000. It covers all the materials and food for the 2-day workshop. It’s a more intimate kind of setup where you get to ask your questions directly to Mr Francis Kong and have a more personalized leadership learning experience with him.

Being part of this exclusive group of mentors in XTRM One Eleven Inc, has also allowed me to get a special dinner priviledge with Mr Francis Kong himself and his wife. It was an amazing experience to say the least.

Over the last 8 years of being part of the group, we have had a lot of exclusive trainings and workshops with different local and international speakers like Anthony Pangilinan, Bo Sanchez, Dr. Denis Waitley, and many more. Unfortunately, most of our events are exclusive to our group and we could not invite others to attend….UNTIL NOW.

For the first time ever, you will get a chance to attend an event of Mr. Francis Kong this coming July 23, August 6 and August 12. This rare 3-part series titled BUSINESS ROADMAP SERIES will include topics such as Maximizing Productivity, Entrepreneurial Mindset and Developing Presentation Skills. The event is from 7pm to 9pm so that most of the professionals who have a 9-to-5pm daytime job will be able to attend.

This event is especially tailored for professionals who are seeking to build additional income or upgrade their skills for promotion. If you want to LEVEL UP YOUR INCOME POTENTIAL by developing additional business skills, this is your oppportunity. The good news is that you will not need to invest P25,000 for this event, not even P2,500…the event is only P1,500 for the whole 3 days (July 23, August 6 and August 12). Should you choose to attend only 1 or 2 of the 3 days, we can also accomodate you. You only need to invest on the days/topics you are going to attend. Ticket price is only P500/day or topic.

If you are interested to attend this event, you can email me at allan@allaninocente.com or contact me at +63-917-8034015 so I can send you the payment instructions. SPECIAL DISCOUNT is available for groups of 10 and above. So bring your friends along! Limited slots only. Hurry, get your tickets now!