How Entrepreneurial Are You? - Business Mindset Assessment Test

Are you business minded?

Here is a Business Mindset Assessment Test. The following questions deal with your personal background, behavioural characteristics, and lifestyle patterns and how they are related to your Entrepreneurial Mindset or Business Mindset. Get a piece of paper and answer the questions by indicating these rates:

4 - Definitely Yes
3 - Probably Yes
2 - Probably No
1 - Definitely No

Part 1: Attitudes Toward Risk Taking

1. I am prepared to make sacrifices in my family life and to take a cut in pay to succeed in my own business.
2. I take risks for the thrill of it.
3. I enjoy doing something just to prove that I can.
4. I enjoy tackling a task without knowing all the potential problems.

Part 2: Personal Initiative and Discipline

5. Once I decide to do something, I will do it and nothing can stop me.
6. When I begin a task, I set clear goals and objectives for myself.
7. After a severe setback in a project, I am able to pick up the pieces and start over again.
8. I am usually able to come up with more than one way to solve a problem.
9. I believe in organizing my tasks before getting started.
10. I find myself constantly thinking up new ideas.
11. I can concentrate on one subject for extended periods of time.
12. I find unexpected energy resources as I tackle things I like.
13. I am likely to work long hours to accomplish a goal.

Part 3: General Attitudes

14. When I do a good job, I am satisfied in knowing personally that the job has been well done.
15. I like the feeling of being in charge.
16. When I think of the future, I envision myself running my own business.
17. I try to do a better job than is expected of me.
18. Personal satisfaction means more to me than having money to spend on myself.
19. I try to find the benefits in a bad situation.
20. I persist when others tell me it can’t be done.
21. I enjoy being able to make my own decisions on the job.
22. I can accept failure without admitting defeat.
23. I strive to use past mistakes as learning processes.
24. I find that answers to problems come out of nowhere.
25. I prefer to make final decisions on my own.

Sum up your scores and see this interpretation:

Above 75 Definitely Entrepreneurial
Your combination of personal background and behaviour and lifestyle patterns should give you the basis for a successful business.

50–74 Possibly Entrepreneurial
You might have the basis for succeeding in your own business. The process of preparing your business plan can help clarify your entrepreneurial orientation. If the information that you gather excites you about the prospect of running your own business, you will probably do well. On the other hand, if the prospect of running your own business scares you, think carefully about whether or not to proceed.

26–49 Probably Not Entrepreneurial
Other possibilities may be more suitable for you.

Under 25 Definitely Not Entrepreneurial
This is self-explanatory; you will probably work best as an employee.

Regardless of your score, discuss the results with your friends, primarily your family and closest friends. They may see a side of you that you do not see. Their comments, combined with your score on the assessment, will provide you with a very good indication of success in your own business.

Now that you've known the levels of your business mind now lets start that business!

Read more of the series Starting Your Small Business.

45 Days More - Diamonds In My Backyard

Just weeks ago, I found a big diamond in my backyard! And right now we are harvesting it.
And I wont tell you about it!

Just kidding!

I’m talking about my second business: selling shirts we sell online through Facebook. Let me tell you a little story behind it.

As all millionaires are, you can never be one unless you have a team. And so I teamed up with my classmate back in high school and my friend for over 12 years now, Leandro. (The biggest guy in the center of the picture..hehehe) Good thing is, we have the same mindset with regards to wealth and finance. So working out with him was no problem, and he became my official co-millionaire.

One Saturday evening two weeks ago, we juggled up all possible ideas where we could strike one powerful business plan. Tell you, it was not easy. We covered everything from internet to real estate and we still hadn’t hit jack pot. We have been squeezing our creative juices for 2 hours already and there was nothing. Tired we just talked about our experiences in the seminary. Yup, you heard it right! I was a seminarian of Don Bosco for 6 years, 6 wonderful years.

And we hit, jackpot! We will be selling t-shirts for ex-seminarians! The big diamond lying in our past! We just got the simplest yet most promising business plan ever! So we spent the next 30 minutes planning and exploring all possibilities with energy and enthusiasm.

We wont be having any problem with the market because we already have one strong one. We are a member of the Facebook group Ex Sems of DB with 300 plus members, so the market is just a click away.

Start-up? Just plain creativity and the internet. We conceptualize a design of a letter X similar to that of WWF to come up with something attractive yet with attitude. However, we added our seminary’s motto,” Ecce Ego Mitte Me”, which means, “Here I am Send Me.” This was made to have a sense of identity to our buyers thus making them have a need to get one.

We also came up with a brilliant marketing plan. The first 10 to comment on Facebook gets a big discount. And tell you, it was just so effective! It would have been better if we would have a pre-launch program like announcing to the group that there is something huge coming. However, we posted it just a day before. No worries, next time we’ll do that.

An additional strategy too was given by Kuya Tony, sell only a limited number of shirts. We decided to print only 99pcs. Why? This would create a sense of urgency to the buyers if we say that it is a limited edition! Thanks Kuya!

And so last June 11, at 8:30 in the evening we launched the X sems shirt! And just before midnight we already had the top 10! Simply great for the starters. We even had 2 from Luzon already!

Orders have a cut-off on Tuesday and they will be released on Saturdays where we would be meeting in a place to distribute the shirts to our buyers.

We would be releasing it 2 days from now, and I am just so excited..


I really can’t believe that all this is just in my past, behind me. My diamond is just in my backyard! And with this, we already have a lot of great ideas coming after this. 

By the way, you might want to know where who’d manufacture our clothes. Again, part of our past, in our backyard. The father of our classmate in the seminary, who also was one Ex sem!

46 Days More - Win-Win in a Win-Lose World

Practicing Win-win in these times is just a tough challenge!

A week ago, I offered a split-win-win of deal between our other branch with a wholesale of one customer, they double-crossed us.

Months ago, a customer broke a 5k worth of vase which he accidentally kicked. Screamed at us. I offered win-win, begged she would pay, even just half the price knowing our in-charge who was just their standing assisting them would get from her pocket the other pay, but she got away clean. She would pay only if we see each other in court because she's a lawyer. So everybody in the department paid for the 5k including me.

Yesterday, I faced one angry customer. She bought a plastic table and a few minutes later came back and returned the table saying that there was a crack! And yes it was there. As standard, my team would always check all possible reasons for that to occur. Three of my personnel, the one who assisted, the one who took the item from the bodega and our check-out confirmed that when they packed the item it was all clear. And if they'd notice anything they'd obviously see it.

She breaked all hell loose, raising her voice and started to tremble really bad. I was just patient, trying to ask her all questions as to what had happened, made a clear walk through. But she shouted at me asking what am I implying if I continue to ask questions, that she caused to break it? "I am a professional, if I was the one who broke it, I wouldn't have asked to replace it!"

So who did?

I continued to ask questions as it is part of making an incident report so that we won't be the one to pay the damaged table. I tried to test her and until she reached her limit, maybe a little conscience would whisper at her. In a while, she did...reach her limit  And so I decided to have the item exchanged.

All I really want was a win-win. If she really did break it, all I need is the details of what happened so that I can make a decent report. She gets her table back, and we make it clean that we are not liable of the damage.

After that, I traced the exits where they went prior to noticing the damage for they reported that it was the security guard who noticed it. And so I did in all exits. And found out that, none of our guards saw a damaged table.

My conclusion. They passed through our guards, becuase in their receipts there was a stamp, damaged the item outside in riding the taxi, rushed back, talked all the bull, screamed at everyone, lied at me, and went home happy and glorious, and would be "chismising" to their friends of their triumphant endeavor in our store.

But inspite all this, I am happy and I am proud that I am different from them. I don't need to step on people just to get what I want. I don't need to scream and treat them with disrespect because they are just salesclerks. I think win-win. And I do win-win. I manage 112 personnel and all my decisions are win-win. It's very tough in this business but hey, I'm different. I'm proud. I'm effective. I'm clean. I'm a Winner. A True Winner.

62 Days More - My First Millionaire Business

I know everyone's excited, calm down, calm down, relax, in a few moments I'm gonna bring out to the world my first real established business. Okay okay, you might be wondering what's the difference of this one to all my other businesses. First and foremost, all of them failed!!! Ouch! When I say failed, no return of investment! Ouch Ouch! My only ROI was the learning I got from my mistakes and failures. (In psychology, this is what we call defense-mechanism: rationalizing over the thousands I've lost..hehehe)

Okay, so what is it?

Selling goods? Actually it's my job, rat-race job, but not my business.
Selling ebooks online? Soon.
T-shirt printing? Soon.
Real Estate? Soon? (hehehe)
Food? My mom does it, I'm just the marketer/sales rep/taster
Pigs? Quite soon.
Farming? Quite Quite soon
Lending? uh-huh.
Personal Services and Consultancy? Not now.
Wait..wait..what?????

LENDING?

"Those who have not sinned, shall cast the first stone!"

 (just defensive)

Why of all services chose lending?

Let's rephrase it...Why not lending?

Okay, why am I too defensive? First and foremost its lending that almost made us motherless after she tried buying muriatic acid at the sarisari store devastated from all the debts she was unable to pay. Like what I said in my previous post my new best friend now is debt. I have to accept the reality that debt is something normal for a person to survive. And at most times, it can be something very very good. Honestly, this is not easy, I begin to think I am now the motorcycle rider with turban my mom tries to run away from before. But I have to open myself and embrace it. Make my very weakness my sole strength. 

How did this came about? It's not really easy when your staff, with all his guts, approaches you and sincerely tells you that his wife is giving birth, he's down to today's meal only, her child needs this and that,  and how he hopes he could borrow money from you offering to pay you with interest? Say this happens like once every two weeks. And all you can say is a "No, I don't do that." Sometimes, they joke asking from you but you just smile at them, "No, sorry." This was how it came to be.


Let me state this loud and clear: My vision-mission is: Help People AND Earn. Earning money should not be the main focus in this business. All my decision making should be rooted on how can I help this person. And comes my earning part. I promise my self that I'd stop this immediately, no questions asked, if my head gets big and I worry how much will I be earning.

My terms are simple, a generous 5% per month, and increases anther 5% the following month and so on. Missed to pay amount will be subject to the next months interest rate on the whole amount not the remaining balance. This is to motivate them to pay fast in the first month at the smallest rate. I'm expecting surprises in the first few months but I'll be as flexible as possible. (Remember, ready, fire, aim principle)



Now, I can say to myself, this time I will be the motorcycle rider instead of bringing a scythe, I will be bringing hope.


Kuya, Tita, and Jan, thank you for this!

67 Days More - The Wealth Files of a Millionaire Mind

This is the first time I have written on this blog early morning. I just finished the book, Secrets to a Millionaire Mind and I'm about to return it to Kuya today. So before I forget the importance of those powerful lessons, I'll be writing the Wealth Files - 17 Ways Rich People Think Differently and Act Differently from Poor and Middle Class People -  from it so that I'll personally remember it and live it for the rest of my life: Here they are:

1. Rich People believe "I create my life."

Poor People believe "Life happens to me."

Heart Declaration: "I create the exact level of my financial success!"

Mind Declaration: "I have a millionaire mind!"

2. Rich People play the money game to win.

Poor people play the money game to not lose.

Heart Declaration: "My goal is to become a millionaire and more!"

Mind Declaration: "I have a millionaire mind!"

3. Rich People are committed to being rich.

Poor People want to be rich.

Heart Declaration: "I commit to being rich."

Mind Declaration: "I have a millionaire mind!"

4. Rich People think big.

Poor People think small.

Heart Declaration: "I think big! I choose to help thousands and thousands of people!"

Mind Declaration: "I have a millionaire mind!"

5. Rich People focus on opportunities,

Poor People focus on obstacles.

Heart Declaration: " I focus on opportunities over obstacles."

                            " I get ready, I fire, I aim!"

Mind Declaration: "I have a millionaire mind!"

6. Rich People admire other rich and successful people.

Poor People resent rich and successful people.

Heart Declaration: "I admire rich people"

                             "I bless rich people"

                             "I love rich people"

                             "And I'm going to be one of those rich people too!"

Mind Declaration: "I have a millionaire mind!"

7. Rich people associate with positive, successful people. 

Poor people associate with negative or unsuccessful people.

Heart Declaration: "I model rich and successful people."

                             "I associate with rich and successful people."

                             "If they can do it, I can do it!"

Mind Declaration: "I have a millionaire mind!"

8. Rich people are willing to promote themselves and their value.

Poor people think negatively about selling and promotions.

Heart Declaration: "I promote my value to others with passion and enthusiasm."

Mind Declaration: "I have a millionaire mind!"

9. Rich people are bigger than their problems.

Poor people are smaller than their problems.

Heart Declaration: "I am bigger than any problems."

Mind Declaration: "I have a millionaire mind!"

10. Rich people are excellent receivers.

People people are poor receivers.

Heart Declarations: "I am an excellent receiver. I am open and willing to receive massive amounts of money into my life."

Mind Declaration: "I have a millionaire mind!"

11. Rich people choose to get paid based on results.

Poor people choose to get paid based on time.

Heart Declaration: "I chose to get paid based on my results."

Mind Declaration: "I have a millionaire mind!"

12. Rich people think "both."

Poor people think "either/or"

Heart Declaration: "I always think 'both'."

Mind Declaration: "I have a millionaire mind!"

13. Rich people focus on their net worth.

Poor people focus on their working income.

Heart Declaration: "I focus on building my net worth"

Mind Declaration: "I have a millionaire mind!"

14. Rich people manage their money well.

Poor people mismanage their money well.

Heart Declaration: "I am an  excellent money manager"

Mind Declaration: "I have a millionaire mind!"

15. Rich people have their money work hard for them.

Poor people work hard for their money.

Heart Declaration: "Money works hard for me and makes me more and more money."

Mind Declaration: "I have a millionaire mind!"

16. Rich people act in spite of fear.

Poor people let fear stop them.

Heart Declaration: "I act in spite of fear."

                             "I act in spite of doubt."

                             "I act in spite of worry."

                             "I act in spite of inconvenience."

                             "I act in spite of discomfort."

                             "I act when I'm not in the mood."

Mind Declaration: "I have a millionaire mind!"

17. Rich people constantly learn and grow.

Poor people think they already know.

Heart Declaration: "I am committed to constantly learning and growing"

Mind Declaration: "I have a millionaire mind!" 

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71 Days More - Information Business

Information business is simply business that has something to do with buying and selling information. This is very very much applicable in the Internet mountain of wealth. Inspired by this, I was able to make in less than 4 hours an informational blog simply about magicjack. A device that can let other countries have unlimited call to US and Canada. Here's a link to my site Unlimited Calls to US and Canada - MagicJack.

I have greatly improved in my blogging especially in tweaking for good traffic and optimizing the blog to its fullest.This is a good sign, though I am not pretty sure this site will really bring in that traffic, but I was able to harness my blogging skills to the next level.

Never stop learning!

Super multiple streams of income!

Hopefully, this site can bring in good traffic and good Google Adsense sales! I know it will!

72 Days More - The 4 Mountains of Creating Wealth

As I have learned in the book, One Minute Millionaire, by Mark Victor Hansen and Robert Allen, there are 4 mountains where we can create wealth: Investments, Business, Real Estate, and Internet. So in my journey to 1 Million, here are some updates:

Investments:

I already invested part of my savings in mutual funds through PruLife. They type of institutions are way better than banks in terms of interest. They invest your money into stocks in turn increasing interest rates of upto an average of 8% compared to bank's 1%. If you're interested you can contact me and I can share you about it.

Other investments could also come in acquiring learning materials. Though so far, all the books that have helped me through are all borrowed books, I'm planning to invest on them soon when I'll be having that budget.

Business:

So far all I have are ideas but up to date me and Kuya are working on starting up a brand of clothing line that promotes inspiring and motivational quotes. Unique eh? All ideas and plans are still being stirred, I'll get back on this once all are set up.

Real Estate:

Again, all I have are ideas. But as I have mentioned before I'm on live broadcast on anyone who might know someone who wants to sell a house and lot. (Please tell me if you do!) I know they're just around the corner waiting for me to see them. All hopes are up!

Internet:

There are so many ways to make money on the net. But right now, I'm all into earning through Adsense. I have 3 blogs running: Inzpiro, 90 Days to 1M, and a Secret Blog in just over a month. Honestly, cashflow is still very slow yet, but I'm doing all I can to optimize these blogs.

In the long run, (but near future) I'm planning of selling e-books on the net. And if there's an opportunity, provide internet marketing services for clients who need one.   

So what do you think? Is 1 million near or far? So near!!

74 Days to 1 Million - Action! The Business of Business

ACTION! This is my theme for the day. Aside from the business of work (Eureka! I just realized that "business" which I meant for the noun form of "busy" has the same spelling with "business"!) I was still able to strike.

Back to my Eureka, therefore I conclude, that if you want to succeed in business, you have to be BUSY!! Action! Action! Action! Don't just wait and prepare and prepare, that's defense! We cannot succeed in life if I just sit down and read and learn and read! I need to make action, Attack!! Offense!!

So here are my strikes today...

- As I shared to you that I am an open book to my real estate adventure, almost every person I was able to talk to I try to insert whether he/she knows any house and lot for sale. And look what I've found. One of my  teamleaders is looking for a house! Yupeee! I now have a prospective buyer.
- I also asked my long time friend Dro if he knows one, and oh boy, he does! Actually, 2 houses for sale. I still need to follow him up on the details.
- I endorsed to my gym buddy Amino 2222, the protein tablet I take while working out (ehem, ehem) It's really safe, ain't no steroids. He's very interested though, aside from the fact that I bear the results (ehem, ehem) and thus here's another business oppurtunity!
- I will be visiting Cebu Hardware sometime to see if I can find materials for the Positive Switch Band. I just realized it need not be a rubber band, think out of the box!!