Starting Your Small Business - Advantages and Disadvantages of Family Business

Here we shall discuss the different advantages and disadvantages of starting a family business.

When Family Members are Employees

When business owners look for help, they frequently look first to members of their own family. This approach yields several benefits. It keeps money in the family. The owner can transfer money to family members and claim the transfer as a deduction for income tax purposes. Further, these related employees can probably be available for as much or as little time as required. Unfortunately, relatives do not always make the best employees. They may lack the requisite skills and interest to perform required tasks.

When Family Members are Owners

Family businesses are not a new phenomenon. The very first small businesses, in pre-Industrial times, were small agricultural or craft-type concerns, in which family members were active workers. At that time, the businesses were owned and operated by the husband or father with all other family members simply doing what they were told.

As a result of the changes that have taken place over the past few hundred years, today’s family businesses have evolved far beyond the early agricultural and craft-based models. Today’s family businesses tend to be more cooperative and less dictatorial, with family members playing more active roles in the ownership and operation.

Assuming that family members have the requisite interest and skills, there are sound reasons for operating a family business. Firstly, there is an existing bond among family members that could facilitate their working together in pursuit of a common mutually beneficial goal. It is often difficult to have employees commit to specific business goals. Provided family members can agree on what they want the business to achieve, it should be fairly easy for them to commit to achieving these goals.

Secondly, family businesses make it possible to keep things in the family. Obviously, profits that are shared among family members, rather than among non family owners, will yield more income to the family. Family members might also be better at keeping secrets and maintaining confidentiality than nonfamily employees.

It is often difficult for business owners to share control with others. Fiercely independent, they sometimes find it difficult to share or delegate responsibility for making things happen and for keeping things going. In family businesses, with control shared among family members, owners do not really feel that they are giving up control.

A major benefit of family businesses is the simplification of succession planning. For small business purposes, succession planning is all about planning who will operate the business when the current owner retires or, due to poor health, cannot continue to run it. With family members actively involved in running the business, it should be a relatively smooth transition from one family owner to the next. This will benefit owners, customers, suppliers, and non family employees. Being familiar with how the business is run, relatives are unlikely to introduce disruptive practices when they assume responsibility for operating the family business.

There are also sound reasons for not starting a family business. If one or more family members has no interest in participating in the business or lacks the appropriate skills to make a worthwhile contribution, no one will benefit from this family participation.

Don’t assume that just because you are very excited about your business that your family will share this excitement. Before counting on family members’ participation in the business, make sure that they are genuinely interested and can make valuable contributions.

Also, when family members work together, there is a tendency for domestic issues to spill over into the work situation and vice versa. One of the good things about working away from home is that it helps separate home and family. If, for example, you have a dispute with your spouse or partner over something as trivial as leaving the top off the toothpaste tube, a day apart will help both of you forget about the issue. On the other hand, if you spend the day together working, the normal pressures of running a business can help escalate a nonissue into a disagreement. Ordinarily minor work annoyances, such as the printer cartridge running out of ink, can ignite into a major conflict that would otherwise have been ignored and forgotten. Domestic differences and business problems can be a very toxic combination.

Another area of concern is the difference in our relationships with family and co-workers or employees. Some people treat their family with more respect than they do co-workers. Conversely, co-workers may see the agreeable people-pleasing sides of our personalities while we reserve our ugliness and nastiness for family viewing only. This can be problematic if family members believe that employees receive more favored treatment or if employees perceive that relatives are being treated better than they are. Realistically, it is difficult to treat family members—whether owners or employees—the same as nonfamily employees.

And lastly,  perhaps one of the biggest difficulties with involving family members in the business is the risk associated with putting all of your eggs in one basket. When there are serious cash flow problems, owners frequently cut back on the money that they and their family members take from the business. When this happens, the family income will be severely restricted, even temporarily suspended. If, however, family income comes from sources unrelated to the business, the consequences of a business cash flow problem will be minimized.

That pretty much covers up all you need to know and understand in the advantages and disadvantages of a family business. More info on your starting up a business here.

Starting Your Small Business - Full Time Job Vs. Part Time Business

"Wages earn you a living - profits make you a fortune."
This post is part of an power packed information series Starting Your Small Business.


If you are interested in running your own business, but are not yet ready to make a full-time commitment, starting a part-time business is a better approach than starting a business as a hobby. The difference between a part-time business and a full-time business is the extent of the commitment. Starting a part-time business is different from running a hobby business because you commit to a part-time business whatever resources—time, energy, money, etc.—that you have available and that are necessary to get the business up and running.

Even though you are running a business on a part time basis, make sure that the rates you charge for your goods and services are comparable to those of your competitors. There are several reasons for this.
The quality of these goods and services are at least as good as or even better than your competitors’. If they weren’t, you wouldn’t even consider offering them for sale, would you? Since they are comparable, why should they be offered at a lower cost? To offer them at a lower cost might suggest that you and your business are not quite as good as the competition.

Running a part-time business is a no-lose scenario. If you start the business on a part-time basis and it becomes successful enough that you are prepared to operate it full time...congratulations! You are off and
rolling. If, however, you gave it your best shot and found out it’s not what you want to do, no problem—
you still have your regular job to fall back on.

A very good tip on part-time business:

"In a part-time business, compete on the basis of value instead of cost."


Anyone can attract business by offering lower prices. Charging competitive prices can show how
successful you might be in running your own business. If you offer deeply discounted rates, you don’t
know if clients will continue to deal with you when you start charging the rates you need to survive over
the long term. On the other hand, if you charge market rates and customers continue to come back
to you, you can expect to succeed over the long term.


Read more of the series Starting Your Small Business.

Starting Your Small Business - Goals of Small Businesses

"Wages earn you a living - profits make you a fortune."
This post is part of an power packed information series Starting Your Small Business.


Businesses, large or small, exist to generate a profit for their owners. Business owners—whether shareholders in the case of large incorporated ventures or owner-operators in the case of small businesses—use these profits as a means of supporting themselves and others for whom they are responsible. Thus, the primary raison d’être for all businesses is to earn a livelihood for their respective owners.

If you already do, or think you would like to, run your own small business, you may have various reasons for choosing self-employment as a strategy for earning a living. Maybe you lost your job as a result of downsizing, reorganization, or merger, and chose running your own business as the best choice for generating an income. Perhaps you find it too confining being an employee in an organization whose way of doing things is inconsistent and even irreconcilable with yours. More independence? Higher earning capability? Whatever. Regardless of an individual’s stated reason for choosing to run a small business, the bottom line is always the same: Small businesses exist primarily to allow their owners to earn a living.

Small businesses can be—and usually are—vehicles by which their owners can experience satisfaction, recognition, and joy, things that we all need if we are to live healthy lives. In practice, this means that as well as existing to allow their owners to earn a living, small businesses also help their owners achieve personal, non financial goals. Essentially these goals represent results or desired outcomes that the individual owners would like to achieve. Examples of goals that can be achieved through running one’s own business include the following:

➤ Earning specific awards or peer recognition;
➤ Showcasing your abilities;
➤ Doing what you love doing;
➤ Making a difference in the community;
➤ Maintaining an enriching relationship with spouse and family;
➤ Meeting new people;
➤ Improving the quality of service to clients;
➤ Developing new ways of doing things.

If you currently run your own business, think about why you started it. If you are thinking about starting your own business, what goals do you hope to achieve?

And do you know why business goals very important in starting your small business? Having clear cut business goals will determine the direction of your business - from strategies to marketing plan - all will rely on your business goals.

START YOUR WAY MAKING FORTUNES!

4 then 3 days Left - When the Universe Conspire

Still no one can comprehend how things happen lately in this 90 day challenge. When the universe conspire to feed in to you all opportunities just like the hand of God designing everything.

Everything happened for a reason. Nothing in this world is unplanned.

One example, I think I didn't share it here, remember the house and lot which is our previous house before we moved in to this ancestral home at the back of our house? One distant aunt still lives there, and I was really thinking even convincing my parents to "think with me" that she would leave the place and be back to her family?

As my aunties were here, for the funeral of Mama Ling, one of them Ate Cha, which basically owned the lot told her of her plans of developing it and having it for rent. Well, on the spot, she agreed and is willing to leave by end of the year! See?

But the latest conspiracy was the new direction my father's job is taking.

He has a small engineering services with on and off projects for the past 3 years. But just the other day, the project coordinator of the plant where they usually work was an inventor of a new oil filtration process and my dad remembering that I'm into all these internet marketing my dad offered him the opportunity to be open online! The deal was even moved to the higher level as he opted that our engineering services would be the front of all services of his invention! Plus, of the meantime, he is willing to give us as many projects in the plant!!!!

I'm so totally grateful of the everything that's happening!

But still, for me the best thing is, how our communication and relationship with my dad greatly improved. He would text me anytime and even wait till I get home! Finally, God has given us the opportunity to work on something hand in hand.

9 Days Left - My Very Own Website

With only 9 days left, I finally have my own website...
Great Inspirational Stories

well, just my own domain of my blog inzpiro. hehehehe...
Check it out...

I finally got it through the wonderful support of my two beloved aunties - ate kathy and ate charlotte for their generous donation that paid for the domain. And of course, Jan's internet prowess for teaching me how to set it up - check out his site to earn money online.

In here you find great inspirational materials from stories, videos, talks of motivational speakers, e-books, filipino inspirational materials, and a whole lot more.

This will be my mini library or resource as I venture out preaching and boosting my career as a motivational speaker.

And of course, monetizing this site would also be part. I still have to review the keyword phrases here, set up affiliate products from clickbank and from amazon.

But who would have thought I would end up with this?

14 then 13 Days Left - When Opportunities Collide

Is it me attracting this wave of opportunities or is it because I have just been so blind before?

Opportunities have been slapping at me hard lately, lots of them!

From the rise of The Business Incubators with all its marketing opportunities waiting to be picked from three major clients, my soon to launch online business with my new partner Joanna, the release of the new set of Tapout shirts following the Xsem Shirts, the gig - or shall I say talk - waiting to be signed up by me, the Millionaire Stories ebook waiting to be worked on, the Way of the Shepherd waiting to be ministered, the Sales Seminar I am cramming up to write, my team members to be trained, people in need willing to be mentored, the Kerygma Feast that keeps my fingers itchy to play the guitar, the houses that need to be assessed then bought, my mom's cooking business that needs to be marketed and the construction/engineering services of my father that needs to be profiled then marketed....waaaaaaaaaaaaaaaahhhhh...

But I was consoled hearing the words of Kuya...
take it stage by stage...

Life has never been this better.

20 then 19 Days Left - Stop Pursuing Succes, Attract Success!

Attracting Success!!

The past 2 days has been quite fast, jam packed and oh so inspiring! Just a little flashback...

I told you about my boss whom I'm helping out to sort things out on how she manages people, well we can't see change right that instant. But you know what keeps me going is the fact that she's very much interested on learning especially from the book , The Way of the Shepherd. And I am happy with that! I'm excited when she reaches the crucial part on dealing with difficult sheeps and leaving a mark on your sheep.

Speaking about that leaving a mark. I am currently coaching one department supervisor I have whom I am eying to be my successor. My main goal is to have as many duplicates as I can in the company. And one of our latest lessons is "How to Leave a Mark to Your People." She is a leader that gives a damn about her people and that's what I like about her. My other supervisors do but she has this deep level of connection to her team. So our aim is to make it official that she be branded as the supervisor who looks after each and every one of her members...deeply.


So for the first time in years, I asked her to call out each of her member one by one and drown them with compliments and positive feedback. The results are amazing. Never had she been so fulfilled, her people felt elated, and she never thought she would hear good things from them. It's that simple. Now, trust is built, morale soars high, sales will follow! hahaha!

By the way, around 80% of them during their interview asked her, "Natakdan na kang Sir Hanz Ms.?" "Has Sir Hanz got in to you Ms.?"

Absolutely. That's my mark.

And about a friend who asked help on her career through YM, she's now back on track. We have been exchanging emails helping her sort and weigh options before she decides. I helped her open her eyes of what she found herself in to, and lift her from the unnecessary pressures of family and people. Because in the end, its all about her. There's nothing wrong with having 3 jobs in 2 years! That means she is searching, and she's different from stubborn people stuck in companies they hate for the rest of their lives! Seek and you shall find!

And so, I pointed out to her that this is the best time to fix everything, know her goals, her purpose and which path to take. And she's doing her homework just fine!

Also this afternoon, it's official that I'm mentoring another supervisor of our company. After lending her the book 8 Secrets of the Truly Rich she wants to do something next but don't know how. And that's what we're doing now.

I'm just wowed by her interest she really spent time to look for me in my area. You could see that need in a person by looking at her eyes, and she needs help. And I'll do all my best to help her out!

Our main goal first is to improve her self-confidence as she wished and level up her leadership skills. Actually we can do those 2 together. My first assignment for her is to get to know her team one by one - Know Your Sheep. And my second one is that she should read books - feed her mind with the wisdom of the world. I'll surely keep you posted on this.

By the way, she has became my business partner too! She agreed that she'd work on as researcher for my pending ebook - Stories Millionaires Read. I just love how God works magically!

Another magical thing! My aunt is now in the Philippines, with the wake of my grandmother, and you know what, she's now my business partner! What? Real Estate!!!

Her story runs great with her success in real estate 3 years ago. How? Self help. She was only reading books and attending seminars about it. This was also one reason everything flunked when the US had economic crises around 2008 where she lost "Dong, you cannot imagine how much". I told her, "Te, one lesson learned is to have a team or a mentor in business venture." If only someone had told her! She said, "I was just too late to learn." But I blurted out, "No, you were a year early!" 

We promised to talk more about it some time after the wake. But our set-up would be she'd help me out investing here in the Philippines. I can't believe how magical God's Universe is when I attract things!

All of these things are manifestations how God and His universe would conspire to help us if we help ourselves by helping others.  People who need help and guidance come to me, and people whom I need help and guidance come to me as well! This is because I am in focus, I have a goal, I have a team, I have a mission, I have a dream, and its God's dream too, and He will in all His power help me Get it!

24 Days Left - I Wish Everyday is My Day Off

There's always that sense of fulfillment I get in my day-off. There's no more wonderful thing than being able to work hard on myself than on my job! Where at the end of the day, your productivity goes back to you. That's what life ought to be right?

Aside from finishing all the layout of the proposed designs for the feel great shirts, worked on the stories for the best-selling book, and finalized for a new small biusiness I'm working out right now, here's one remarkable thing that happened - and it has something to do with my parents.

I realized, that if only I get to spend enough time with them I can guide them or help them out of this hole they got themselves into.

I spent the whole morning at home and both of them are pretty busy with all the preparations for my grandmothers burial and I was able to witness how their typical day would be. And so I striked at every chance I could get to strike at them!

Strike 1. They had petty quarrels over money. 

My father has this inclination of seeking out fast solutions to problems without thinking harder, plus added with a louder voice and irritation, they would have petty quarrels with my mother. Often my mom - afraid of his high blood pressure - conceded and there goes money not spent smartly. And so what I did was to interrupt their argument showed them a good solution that shut them up looking at each other.

Strike 2. My Mom's Mistake

My mother has this tendency to be quite extra talkative especially in relaying information. Well, we had this history with misunderstandings with our relatives - unfortunately, they often see us wrong. And so I took the chance to tell her straight that she should be careful in "adding colors" into information. Tendency is your "blue" might not be the "blue" of the one your relaying information to. I told her to stick with the details - the details the other party needs. And she too must be careful to whom she's talking to with colors because people have this great talent to do wonderful masterpieces from only one information.

Strike 3. Techniques and Strategies

There has been a lot of challenges in the preparations for the burial especially with the life plan and the providing funeral service. It's pretty obvious they're making more money with our loss and we just want to have a fair share on this. And so while on the phone negotiating I showed my parents what words can they use - number figures, "You are the only one who can help us" expectation technique, and offering win-win deals - to catch favor from the other side. And yup, it worked just fine!

This made me want to resign even more! Hahaha!

If only I could be with them more, we could really work bigger things out. This is such a motivating experience. I realized my parents have hope! They can get out of this hole and they just need some guidance - tough guidance. If I was able to inspire other people and move them to action,  
why not with my parents?

29 Days Left - New Challenge - 1,000 True Fans

I have less than a month left and the pressure has taken up a notch. I can't believe it could be this fast! Now, I have one great challenge ahead of me. And its quite tough. So everybody has been keeping up with my coaching and preaching right? But it still needs one great ingredient, my credibility. This is my new challenge...CREATING A NAME FOR MYSELF!

Just yesterday as I was working on the sales of our cafeteria, I figured out one great fact. We only need at least 40 customers to survive - loyal customers. This came out after challenging our front line to call our regular customers by name. They build up a list and vwhala! I calculated their average expense and found out they're all I need. But more would be much better though!

I still clearly remember the first lessons of our Internet Marketing Workshop, for a business to survive you on move ahead you must have 1,000 True Fans. Fans that would buy your every new release, go to your concert, even attending it twice or thrice or every time, and fans that would never get enough of you. This is the same thing as in our cafeteria, no matter how we fail them some times like delay orders they'd still come back! Those are true fans!

This is also the same with me. I need to have my fans in my preaching and coaching - bringing impact into people's lives. Right now, I still have 6 subscribers in feedburner. Knowing you are reading literally brightens up my day...thanks a million!

Recently, I discovered one old friend of mine was also reading my million journey, and oh the feeling is ecstatic. This started out on a facebook thread where she exclaimed she want's to be my "disciple". And after a while, 2 more friends said they also wanted to be my "disciple"! Imagine?

So right now, I'm all creating a name for myself. I'm also practicing it on my work. (Yes, i finally found out a way after losing hope in it where I could "exploit" my job and make it as a training ground in honing my skills.) Currently, I am planting little seeds in my team that would surely grow someday. I'll tell you more about it soon.

So, be my fan, help me out, and I'll do everything I can to do more than just help you!

30 Days Left - Need Me? No Thanks!

Everyday is becoming clear and clearer for me as I live my dream of preaching and coaching. The world has become more colorful with the fact that I begin my day with a mission and I end it recounting how I took small steps in accomplishing it.

However, here is my first obstacle, but not reallly an obstacle but my first truth:

I want to motivate everybody, but not everybody wants to motivated.

If this you're in this kind of business, this is the very first thing you have to accept. You cannot help everybody.

I experienced this when one day I tried to contact my college best friend. He was so busy, that I PM her girlfriend instead of him noticing how active she was on facebook.

I enthusiastically sent to him a proposal that we could meet so we can brainstorm and I was so willing to help him formally establish his business. His family makes the best pastries and cakes and I could see what big potentials it could bring. If we could only sit down, layout the marketing, operations, logistics, without even greatly affecting their jobs.

And you know what, I wrote to for him 3 times. First, on my way to proof read it there was a brownout. So I wrote everything the second time. But when she replied, she asked what's wrong because my message was empty. So finally, she received the message and promised to text me. 8 Days later and there was nothing.

"Some people are really made as workers. They just don't have the factor of becoming leaders. Don't worry Hanz, maybe they could become our suppliers when time comes we need them" as kuya shared his insight about them.

This situation was also true as I mentored one of my employee. I was so interested to help him that I was sharing to him my insights on finances and life. But that was only good for 2 days. I was waiting he'd approach me and ask me what's next. 3 months passed and we never talked about that again.

Soon I would be meeting a lot more of this kind of people. Fortunately, I'm delighted that as early as this stage I'm able to know about this truth, because if not I would end up frustrated. I'll just have to do my part at its best, the rest is up to them.

How about you, are you ready?

33 Days Left - Reality Check

You might be wondering what that I have been so quite about my businesses knowing I only have a month left!! Here's a little update of what I have been up to.
(I really love doing this - reality checks - keeps me on track)

1. The Ex-sem shirt - well it was quite a success. Imagine we have interested buyers from Saudi and Canada! Though we are are far from our promise limited offer of 99 prints we only got about 40 prints and only half of those have actually claimed there orders. It is already on its denouement actually, but it was a success because we learned, we earned, and we got a charity - a blackboard for children's Sunday school.

2. Shirts - Part 2 - Yup! Though the ex-sem shirts is on denouement we have an upcoming one. The design is ready, we have 31 orders reserved, its on its manufacturing stage. We'll tell the world about it shortly.

3. The FeelGreat Shirt - After losing track, its now back! The original members are just occupied lately that we were not able to continue cooking it but with Dro coming in the picture we can assure it would make it happen. Actually, we have planned it quite well the other night and all are now working on each assignment. Can't wait!

4. Lending - We have decided to draw the curtains to a close. We'll tell you more about it soon. But one great reason for that is we'll be investing it all in into something BIG. As in BIG.

5. Best Selling Book - still cooking!

6. Internet - inspired after knowing that my Best Inspirational Videos blog is rank 1 in Google search (I'm still proud even if it's only number 1 if you choose "Pages from the Philipipines" hehehe) I decided to buy it's own domain! Actually, I'm soliciting from my amazing aunties from the states.

7. Best Selling Ebook - this 90day journal would soon be one!

Hmmmmmmmm... I think...hmmmmmmmmmmmmm..
two words...

DOUBLE TIME!!!!

36 Days More - Living Your Dream

I just came from work, and the first thing I did was to turn on the laptop, log in to my blog and post this. It's 10:46 in the evening and dinner can wait because I have to tell the world that I just had experience what it feels to do the thing you love the most at its best...inspiring people!

I spent the rest of the afternoon having a talk to one of the supervisors of my team and it was so fulfilling that I can feel living my dream of touching lives and motivating people.

It started with a little chat about a small business start-up. I was struggling not to sleep while typing a report and he was beside me working. And so I opened up to him what I shared to another employee which was also his neighbor of starting up a distilled water distribution in their place. I opened to him the idea, its an open market, with little investment, and semi-passive income. He was so thrilled of it and I told him to strike on it tomorrow because it's his day off. You would really notice his face lit-up with enthusiasm. And I was even more motivated to share to him my insights because he kept on with the conversation.

The turning point was when I shared to him what I have been doing - the 1 million 90 day challenge. His face was totally puzzled. Explaining to him of becoming a millionaire without the money was like explaining molecular biology to a 5 year old. But soon, with just the right examples, he was able to see my point but was not able to grasp it.

But the magical thing of the experience was what was happening to me! Words just came out so smoothly! I can't believe how my thoughts was singing in harmony with my words that little by little he was listening very intently and was smiling as he was realizing the truths I was sharing him. My beliefs, my values, rich attitude, millionaire mindset, and all other good stuff in this blog.

But for me this was for me the best part...

He asked. "Wait sir, lets talk about how can you actually get that 1 million."

"You see, before you get to the "how", you must clearly establish the "why". Why do you want to get the million? Okay, ask me why I want to get the 1 million"

He was smiling, and shaking his head and said, "Okay."

But I responded, "No, come on, ask me why do I want to get the 1 million."

"Okay, okay. Why do you want to get the 1 million?"

"I know how you feel right now. I know you feel so good about what we've been talking, am I right?"

He laughed and shook his head.

"You see, that feeling you have right now, if I don't have that million, I can create that feeling to only one person at a time. But I have that million I can inspire more people. With the million I can go to other islands and places and inspire people their. I can help more people, teach more people, and spread that very feeling you have right now to more and more people. And I cannot do that if don't have enough money......"

I paused. He smiled.

"And this is my "why". So you see, no matter what obstacle comes in my way, with this "why" nothing can stop me. I will achieve that million no matter what!"

That was not scripted. Not practiced. It just went out of my mouth deep from my heart.
And at the back of my head I can see how great it is to live your dreams.

37 Days Left - The Power of Delegation

"If others can do it...let them do it!"

That's the power of delegation!

Having been a supervisor for around 8 months, its only on the 8th month that I have finally embraced the fact that it's my power to delegate! Imagine for the past 8 months it would be me who would go up and down the offices to get the memos..it would be me who would type and mail their reports...it would be me who would drag and carry stocks and clear the bodega!

I don't know why, but I have been trained in the past for servant-leadership. Well, I never had a mentor or idol on company-based leadership and so bad for me, I took it literally. Actually, I thought it was very effective, which it was really, people to see me as one of them. However, it became too much like one of them, they started taking advantage!

"Sir, could you please print this for me...."

Not until I joined the the Internet Marketing Workshop Seminar - the life changing seminar last April. On which one highlight was the power of delegation. We had this activity of writing down everything we don't want to do and how can we delegate it. This idea was the core of the book 4-hour Work Week a book by Tim Ferris, putting a system into everything that it all goes auto-pilot.

And so, I directly applied this aspect to work and, whew, it was differently effective! For the first time, I was not afraid to call someone to go to the office and get the memo for me. At first it was a strange feeling, "Hey, I can do this, but why am I letting them do it...?" goes over my head often. But hey, its my job to delegate!!

At first it was challenging, why? I have to teach them one by one. I have to teach them how to use the computer programs, how to make the reports, I have to assign people and responsibilities, and set-up a well-established system that goes automatically. I did this for 2 months, and the results are fantastic.

I am now able to do a lot, in such a little time. I am also practicing it too in my shirt business.  It's on auto-pilot too, a division of tasks, maximizing the internet, set up a system, with dates and deadlines, no inventory, cycle profits and all goes smoothly. A true example of a semi-passive income.

Soon I will be working 4 hours a week and earning more than what I earn now. Would you want that? And it all started with accepting the fact that you may be the best but you still need the rest.. that's delegation.

40 Days More - The Secret of a Store

I want to share to you a secret I discovered working in a store...

You want to know about it?

Tell, me you won't tell anybody, okay? Sure?

Ready?

I'm not publicizing this blog post, so if you were able to ready this, you're very very lucky!
This truly is your day! So ready for the secret?

Here it is...

43 Days More - The Super Amazing Power of Choosing

We already distributed our shirts!!! Wohoooo!!

It's June 18 and we distributed our shirts in a middle of a concert Fete de la Musique held at the Ayala Terraces! Imagine, with super cool bands, and all the lights and all the crowd. (Actually, we never thought that there would be a concert held on that day! Great!) 
And you know,  how many came?

ONLY 6!

Of the 20 who ordered only 6 came! Imagine?

Not bad for starters eh?
We didn't really expect that a only this few came but hey, we had one great mini reunion. We really had a lot of catching up to do with our classmates back in the seminary. Talkin' about the good ol' days is just wonderful!

You see, we really are very optimistic of this. We would really say to ourselves, nothing can stop us! 
Dro was even running on time because our printer started working on it 6 hours before the scheduled release due to some setbacks. We released the shirts an hour late of our set schedule. But still we are positive that we'll find a way of having these picked up. Discouragement is not in our vocabulary!

Today, I choose to CHOSE. 

No matter what happens, bad or good, it's still up to me on what would I do about it. This is one great lesson I learned when I got a copy of Zig Ziglar's book, Top Performance...

In life we chose, whether to react to life - which is negative. Like for example, if the doctor said that the medicine you took reacted on you then that's not a good symptom. But if we respond to life - which is positive then it's the other way around. When the doctor says that you respond to your medicine, then that's an indication that you are healing. 

So no matter what happens in this shirt business, we would respond to it no matter what! People not showing up, messy prints, cellphone loads going zero, we won't react, we respond! And for me, this is the best way to succeed in business, and also in life.

(I started applying this today at work, and hey, with all the headaches lately of peoples attitudes, today was brighter!)

So how about you, will you respond or will you react?

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!

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!

70 Days to becoming a Millionaire - Starting the Business

I'm very very very excited becuase we're starting a business! For REAL! Not the repacking of peanuts nor dealing of dried mangoes nor selling nachos to kdis..this is the BIG DEAL!

The "Feel Great Shirt" is really starting to come to life. We had another meeting just tonight with the core members - Kuya, John, Kuya Raoul, and Me. There is no official name yet but we are all eyeing on "Feel Great Shirt". A top of the line thsirts that has motivational and inspirational quotes on print.

Our theme is to keep it simple. Maybe a 1 or 2 colors just to keep all attention towards the text and the message behind it. Fancy shirts now-a-days turns to divert the attention of people to the colors and to the design. But with our Feel Great Shirt's simplicity it will catch the attention of people as they are forced to read the text on the shirt. Then and there can we accomplish our main objective of inspiring people and sharing to the world the blessings we received as we have learned and lived the quotes all our lives.

The highlights of tonights meeting is to state what we can commit to the business. We were to choose from capitals - the start-up money, industrial - operations of making the shirt, and sales/marketing - could be online or direct selling. In my case,, with my 6-day work week and packed 8-hours industrial is a challenge. In capital though, my budget is not yet enough. So I commit myself to help in selling and marketing. Good thing I still have contacts to campuses and universities so this would be my target market.

Kuya still included me as a shareholder however they would take the burden of my capital contribution in the start-up while my first sales would be used to pay them for covering me up. One good deal.

All hopes and energies are focused on this one, but I'm still open for my daily strikes.

Strikes for today:

- I found a good source to get slightly damaged branded watches - lose contact, loose locks, damaged mechanism, lost screw. With the super slash-off on the price this would be an interesting buy and sell venture.
- I'm looking at the possibility of moneylending. I cant avoid the fact that there are times some of my team members would be asking for extra cash for their needs. But, I'm really uneasy on this. Good thing, Kuya promised we'll talk more about it the next time.