(Most of the entry on this post is taken from
Success, Wealth, Abundance: ARE YOU THE NEW BREED OF FILIPINO RICH CLASS?)
THE EMPLOYEES -- their language pattern is "salary increase", "bonuses", "promotion", "company trips", "overtime pay" etc. An employee's core value is SECURITY. For him/her, there's nothing more secure than receiving a monthly paycheck. Rich people do not condemn employment, but according to them, you get a job TEMPORARILY for the skills and trainings that you'll get and NEVER for the money.
THE SELF-EMPLOYED -- this includes our professionals, artists and freelancers. They are our doctors, lawyers, accountants, singers, real estate brokers etc. This also includes our Small Business owners. Their language is "my rate per hour is --", "I am my own boss", and "if i wanna do it right, i have to do it myself". They're usually the perfectionist, the hands-on individuals who can not share their skills to anyone. Thus, they're called the SOLOISTS. Yet, we can not blame them. Take for example a dentist who has a clinic, can he share his knowledge on how to run the clinic to anyone? What happens if he shares this knowledge? Definitely, he will start to have competitors. Small business owners can not leave their business for a month, a week or even for a day. Because the owner is the system. The business stops running once he/she retires.
NOTICE THAT BOTH EMPLOYEES and SELF-EMPLOYED HAVE CHANCES TO EARN LOTS and LOTS of MONEY, BUT IT IS NEVER POSSIBLE FOR THEM TO HAVE TIME FREEDOM IF THEY DO NOT DECIDE TO MOVE ON TO THE RIGHT SIDE OF THE QUADRANT -- THE BIG BUSINESS OWNERS AND INVESTORS QUADRANT.
THE BIG BUSINESS OWNERS -- they are the tycoons, Henry Sy, Lucio Tan, Warren Buffett, Bill Gates. They can have a year of vacation and still have their businesses up and running. Their secret? All of them have A TEAM and A BUSINESS SYSTEM working for them. They understand the idea of LEVERAGE or using O.P.R. (Other People's Resources) like time, skills, talent, education, expertise to make their success Bigger and Faster. This also includes O.P.M or using Other People's Money, that's why most employees never understand how businesspeople manage to have debts -- employees loan for liabilities (car, house, gadgets etc) while businesspeople loan for assets (businesses, rental properties etc).
Now, I would want this to be a participative thread were istoryans could freely share their thoughts w/o attending some seminars or trainings. The goal is to become a business tycoon by spending less than Php10,000. I know many financial brokers, accountants, businessmen are active on this section so let's solve the puzzle together.
Based on the notes taken, we are encouraged to shift to the other side of the quadrant to achieve financial security. That is from being an employee/self-employed, you need to be an business tycoon or an investor.
To be specific, lets take an example that we started as a Self-Employed (S) where practicing professionals and businesses which cant run w/o the boss belong.
I am a strong believer that money is not an obstacle when a good brain works.
So how then could we reach the Big Business Owner (B) level by spending less than 10k?
What are some steps on elevating the capacity of a small business into a large corporation?
How do you choose an operations employee (who will do all the problems for you) w/ a very limited financial capacity?
Originally Posted by facebook
i would say mind-setting is overrated... i would rather agree with "the right attitude".. you may have the right frame of mind but with the wrong attitude.. i doubt if you'll succeed.
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