It was a rare opportunity to speak to around 30+ students engaged in a satellite training program located in Marbel (a town found 2 hours away from General Santos City), conducted by the Academy for Creating Enterprise. These eager minds were very hungry for knowledge and after sticking to the 1 week course outline, they were now about to graduate.
I was lucky enough to be chosen to be a motivational speaker for them. What I said was not as important as what they were feeling towards their ability to practice what they learned and get out there to start businesses that have high value. In essence, I asked them point blank if they were going to be one of the frogs who jumped and learn how cold the water was, or are they going to be one of the frogs that remained on the tree and never changed the humidity.
After the ceremonies, I had another opportunity to chat to some of those students and to find out if they had indeed received a great paradigm shift. Most of them were very fired up in relating their respective business plans and the strategies that they were going to use to get their businesses up and running. One of the students that I have interviewed had an existing Mobile Phone stall in one of the more prominent portions of the town, and he was relating to me about creating a brand for his shop and focusing on improving customer service.
Learning for these students, I realized how we could all change our realities by adding new and vital information on a constant basis and how we could indeed change our temporal situation by exerting a little imagination in the field of business and investing.
Showing posts with label Business Principles. Show all posts
Showing posts with label Business Principles. Show all posts
Sunday, October 11, 2009
Thursday, September 3, 2009
Rich love their work and Stick to it
by: Stephen W. Gibson (repost from Academy for Creating Enterprise website)
Have you ever thought about getting rich? I guess everyone has at least thought about it. But what is the difference between those who think about it and those who do it? According to Napoleon Hill, author of “Think and Grow Rich,” thinking about riches is an important part of the formula for wealth accumulation.
But there is another school of thought suggesting that the more you think about it, the less your chances of becoming rich.
In one of my favorite books, “Getting rich Your Own Way”, author Srully Blotnick disagrees with Hill, citing his own 20-year study of 1,057 people. Eighty-three of his subjects became millionaires, but they appeared to have become rich almost accidentally. Meanwhile, those who were most obsessed by the idea of accumulating wealth never did. Blotnick found that among those who know how but said they didn’t want to put themselves through the perceived pain, or they didn’t want to sacrifice “just to have money.”
Others among those he studied felt a person only becomes wealthy by doing hard things one doesn’t normally want to do. So they worked constantly and frenetically, often at jobs they hated, in hopes that they would inevitably become rich. In fact, just the opposite happened.
The harder they worked at something they didn’t enjoy, the less likely they were to become wealthy. Meanwhile, those who worked day after day in their own business doing something they loved eventually did become rich, but it almost surprised them.
According to Blotnick’s study, the key to getting rich is working hard at something you really like. Blotnick also points out five characteristics shared by the millionaires in his study.
1.They were persistent. They found a field and stuck with it. Unlike their less financially successful counterparts, the future wealthy workers picked a field and, through good and bad times, plodded forward.
2.They were patient. Impatience keeps many from success because they are not willing to pay the price of long-suffering. Money was the reward to those who just kept struggling it out year after year, and being patient.
3.They did the petty as well as the nobler aspects of the job. They realized that there are pesos in the details.
4.While competition played a part in their success, they were not obsessed by it. They seem to compete more with themselves than their co-workers or people in the same business.
5.Outside investment activities consumed a minimum of their time and attention. More often than not, they made little or no money investing outside their own business.
Those of us who are in business for ourselves and who just go to work everyday in our ongoing struggling for financial independence might be closer to real wealth than we think.
**Building a business is 90% Emotions and 10% Technicalities. It is better to know less then act upon the knowledge, than knowing more without any form of action. It is BEST to know more and act more.
Have you ever thought about getting rich? I guess everyone has at least thought about it. But what is the difference between those who think about it and those who do it? According to Napoleon Hill, author of “Think and Grow Rich,” thinking about riches is an important part of the formula for wealth accumulation.
But there is another school of thought suggesting that the more you think about it, the less your chances of becoming rich.
In one of my favorite books, “Getting rich Your Own Way”, author Srully Blotnick disagrees with Hill, citing his own 20-year study of 1,057 people. Eighty-three of his subjects became millionaires, but they appeared to have become rich almost accidentally. Meanwhile, those who were most obsessed by the idea of accumulating wealth never did. Blotnick found that among those who know how but said they didn’t want to put themselves through the perceived pain, or they didn’t want to sacrifice “just to have money.”
Others among those he studied felt a person only becomes wealthy by doing hard things one doesn’t normally want to do. So they worked constantly and frenetically, often at jobs they hated, in hopes that they would inevitably become rich. In fact, just the opposite happened.
The harder they worked at something they didn’t enjoy, the less likely they were to become wealthy. Meanwhile, those who worked day after day in their own business doing something they loved eventually did become rich, but it almost surprised them.
According to Blotnick’s study, the key to getting rich is working hard at something you really like. Blotnick also points out five characteristics shared by the millionaires in his study.
1.They were persistent. They found a field and stuck with it. Unlike their less financially successful counterparts, the future wealthy workers picked a field and, through good and bad times, plodded forward.
2.They were patient. Impatience keeps many from success because they are not willing to pay the price of long-suffering. Money was the reward to those who just kept struggling it out year after year, and being patient.
3.They did the petty as well as the nobler aspects of the job. They realized that there are pesos in the details.
4.While competition played a part in their success, they were not obsessed by it. They seem to compete more with themselves than their co-workers or people in the same business.
5.Outside investment activities consumed a minimum of their time and attention. More often than not, they made little or no money investing outside their own business.
Those of us who are in business for ourselves and who just go to work everyday in our ongoing struggling for financial independence might be closer to real wealth than we think.
**Building a business is 90% Emotions and 10% Technicalities. It is better to know less then act upon the knowledge, than knowing more without any form of action. It is BEST to know more and act more.
Monday, May 18, 2009
Some points to consider
While on a trip to Cebu, this author had a chance to drop by the ACE home in Banilad and share a few insights to students. If you think that speaking to a very diversified audience coming from all across the Philippines with different values and beliefs about money is easy, then I recommend you try it, it will be good for your health.
The precepts and principles that I presented were very challenging to the students that I found some of them wrestling with the precepts and others agreeing while a portion not knowing what they believe in.
Here are the principles that I was privileged enough to share;
a. It does not take money to take money
b. Money is just a Score card
c. Education (Financial) + Experience = Excessive Cash
d. You are your walking business venture
The greatest section that was met with much skepticism was the first principle that was shared. This led me to issue a challenge to the students that if I provided x no. of pesos to them that they should be able to double the money in less than a year. Everyone was silent except for one man who sheepishly told me that he could, I wish I could believe him. If he really knew what he was talking about then he would not be in a disposition where he had to borrow money to start his own venture in the first place.
Some admitted that they had already seen that the concept of money as something 'relative' and not as something that needed to be hungered for. Money just becomes a score card following the implementation of good management. Money follows Management.
Some also shared that they never realized that the accumulation of money was relative to their business experience and education. Something that the present school system does not teach.
And finally, one is but a mirror of one's business. If personally, one does not take care of personal finances then sadly, then chances are that individual will have a very difficult time running his own business.
The precepts and principles that I presented were very challenging to the students that I found some of them wrestling with the precepts and others agreeing while a portion not knowing what they believe in.
Here are the principles that I was privileged enough to share;
a. It does not take money to take money
b. Money is just a Score card
c. Education (Financial) + Experience = Excessive Cash
d. You are your walking business venture
The greatest section that was met with much skepticism was the first principle that was shared. This led me to issue a challenge to the students that if I provided x no. of pesos to them that they should be able to double the money in less than a year. Everyone was silent except for one man who sheepishly told me that he could, I wish I could believe him. If he really knew what he was talking about then he would not be in a disposition where he had to borrow money to start his own venture in the first place.
Some admitted that they had already seen that the concept of money as something 'relative' and not as something that needed to be hungered for. Money just becomes a score card following the implementation of good management. Money follows Management.
Some also shared that they never realized that the accumulation of money was relative to their business experience and education. Something that the present school system does not teach.
And finally, one is but a mirror of one's business. If personally, one does not take care of personal finances then sadly, then chances are that individual will have a very difficult time running his own business.
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