entrepreneurship challenges

it's not that easy, this should be the title of this post. the path to financial freedom is not that easy, lucky are those as barry would say "made it through the rain" i guess for me rain has not started yet. well i guess the challenges is in the start, it could be bad or good but whats good is that you started. when my wife and i started discussing going into business, there were allot of questions and mostly ends on a negative note, but in the end the a question answered all those questions "if not now, then when" when do we get our feet wet into entrepreneurship.

not that we are complaining life life has been very good to us, we are not well-off but we managed to enjoy what we have and give the kids what they need and more. however life is so good that it somehow made us complacent and forget to challenges our selves to do better and achieved our potential someone said "in a day, when you don't come across any problems - you can be sure that you are travelling in a wrong path". i feel that we never had a major problem financially cause we really never pressure ourself to do more not better in terms of financial matters. it is good cause we are not pressured to compare our family with others, it is bad cause we will never know what might have been. so that answered those questions, and that started the planning and conceptualization.

i started by learning more related to finance, where to put the extra cash, join seminar, invite speakers, read blogs and articles until we came up with some ideas taxi, restaurant, poultry, and buy and sell. it was really an advantage having so many ideas to choose from, however it was really not easy especially when you experience each of those ideas goes poof one by one. it could be disheartening for some people, it did for me for awhile but now it's more of happy experience since through this process i met lots of interesting people, learn new concepts, generated new ideas.

what went wrong, first the taxi business is really not profitable if you will be running only one unit, i was very optimistic in the start since a good friend will be able to help get a franchise but things did not go in our favor since the line i want is no longer available so we had to defer this for a while, but i learned the process and increase my patience.

the poultry business requires a huge investment, i visited this one acre land which is suitable for a pigery and poultry unfortunately the price is too steep for me and based on my review i had to come up with 500K just to setup the place. again i had to defer this idea but i had fun looking at the place i actually visualize how i will setup the poultry and the small hut, the place is so nice it's on top of a small hill and around it is a river. it allowed me to dream.

and now the restaurant, i thought i did everything during the holyweek. preparing the materials and costing, i already met with the suppliers and ready to buy the materials to repair the place. but i hit a wall when i met the owner which now i consider a my first mentor into business, let's call him pwc a man in his 50's but very accomplish with several good business. somebody that can teach me lot of things related to business, i could be hard headed and very bullish with my plans but i was no match with this old man's wisdom in running a business. during the first meeting he throwed me so many questions that i went deaf, ala hatton hit by pacquiao. it was only then that i realized that i have a lot to learn in going into business thanks to this old man who gave me lot's of insight and made me think again if i really look into all the details of running or even starting a restaurant.

all three ideas are on hold, until i can come up with a better plans. but what is exciting is that i was able to get my feet wet on entrepreneurship. the challenge is staying on path.

i am not to schedule to post on my blog today, im not sure what happen. so if your reading this, my apology for the incoherent thoughts.

likuan u - u turn

well, how do you start your day when it's your birthday? first break all the rules you've learned regarding finance. pamper your self with a good vanilla latte and a slice of muffins. Hmmm.. seriously a quite time with your self with some nice music to think about what happened the past years and plan for another year.

did i say break all the rules regarding finance? yes but i did not say forget them, just break them all for this day. well we were supposed to spend some huge amount of money this weekend since it's my wife's birthday is two days ahead of mine but some miracles came up and aborted half of our plans to splurged.

first expensive thing i bought this month and for a long time now is a pair of earring and a very, very beautiful white gold ring with a precious stone on it. why did i spend on this? it was a good deal for the same price i got the seller to give me a good terms, it is actually twice the number of payment terms she gives to her regular client. it was really funny how i was able to convince her, we were discussing the price using her calculator to avoid the other clients knowing the terms heheheh, that's the wise financial person in me...thanks to all those readings i made. the family had an outing together with the in-laws, cousins, pamangkins and some friends in a new resort, according to ghie we only spent PhP2K for the whole event considering our number. my mother in-law took care most of the expenses as her way of returning the favor for all those years that we have been handling the expenses for the family outing. well that's the most expenses we had for this weekend aside from treating the yaya of rylev to a good lunch in contis this mother's day which coincides with her leaving us for good to study.

what were suppose to be the other expenses, first we were suppose to go to a resort just ghie and the kids, i guess that's another PhP10k damage. and since ghie still has no gift for me, she was considering on purchasing nikon d60 which based on our survey this mother's day, the lowest is around PhP34K. if we did push through with the gift and the trip we could have easily spend around PhP80K in one month, good enough to fund our first carinderia. ghie and i were very surprise that we can afford such things considering that we don’t yet have a passive income. well thanks to not giving to pressure and i will not be buying the camera anytime soon until we have a passive income "delayed gratification", thanks to rylev and shaun for making me so tired last sunday playing in timezone and buying their school needs that i was no longer able to take the long drive to batangas for our family outing. this is a good PhP40K saving.

well you might ask what made me think twice that allowed us to saved that PhP40K? the books and my new mindset with regards to creating passive income which i will talk about on my coming post next week since a lot of good things will happen on my birthday week. and i guess the good lord gave me a sign, i was on my way back to my old habit of compulsive buying until i saw this sign in edsa on our way to trinoma "LIKUAN U", it was really funny but it made sense for me during that day. sometime’s we get lost on our track whether spiritually, professionally or on our adventure to financial freedom but sometimes it only takes a sign to get back in line just by a "U TURN".

happy birthday to me, thanks to all those who greeted me. thanks to joyful office-friends that keeps the stress low and allow us to tour philippines and who also makes my work meaningful, thanks to high-school long-time friends who don’t don’t forget special occasions and find time to have fun from time-to-time, thanks to old officemate who still remember my birthday. thanks to my family for supporting me and most specially thanks to ghie, shuan and rylev for making life so meaningful….love you all.

by the way i'm blogging in the mall, i hope i don't see the d60 heheheheh

think and grow rich

yeeehaa....i just finish the book recommended by mahdi, "think and grow rich" by napoleon hill. i was very surprised with the book, it seems that most ideas or concepts related to wealth building today were based on the concepts stated on this book which a century old. it seems the concepts of wealth building is not something new, the idea is still the same but the ways are no longer the same. industrial age is quite different from information age, as what kiyosaki mentioned building wealth by buying forecloser was a "in" think during the late 70's and early 80's but it might not work today since many people already knew the concepts and are practicing it today.

However, the book thought more of a mindset on building wealth which is actually how to attract wealth, first concept is the desire for wealth which according to the book is the first stage. then faith which removes limitation, this is were i got the title of this blog. autosuggestion which is actually how you direct your subconscious mind. fourth is specialized knowledge then you really need to have a good imagination, of course nothing will be successful without an organized planning "it is not the lawyer who knows the most law who wins but the one who prepares his case". " seventh is decision making, then persistence "the money consciousness must be created to order, unless one is born with such consciousness". power of the master mind is an organized and intelligent direction of knowledge. the mystery of sex transmutation, this is something the strikes me but the most simple explanation will be in every great man behind is a great woman. subconscious mind, the brain, and the sixth sense.

i will need to read the book again for better understanding and to be able to apply the concepts as stated. i'm glad i purchased this book, thanks to mahdi.