A Good Eye Opener...

[GlennSter]

rich dad poor dad fan yata siya.heerherhehr

[CoDer]

Good read! spend your money on money generating venture, only excess money shall be spent on wants.

Been contemplating on this for quite some time now. God willing I'll be able to run my plans next month.

[swordsman]

Might not be applicable to everyone, but an eye opener indeed. Minsan, hirap din kasi pagsabayin managing a business tapos may regular job ka.

How about investment sa stock market these days? Oks na ba?

[niky]

The Stock Market is just like anything else, if you want to be successful, it's a lot of hard work and research.

Ganito talaga nag pinas', hanap ka ng hanap ng sideline para maka-kita. Frustration nga ng wife ko, mahirap din mag-sideline kung starting out, pero sabi ko naman sa kanya, you don't expect it to profit right away, just sit on it and learn from the experience...

Dapat magaling ang pag-run mo ng sideline para maging successful, or, otherwise, you should quit your job and do it full time. I'm lucky that my partners in crime... este... investment, are relatively okay managers. :lol:

I'm still poor, though...

[oldblue]

so if it only takes you a year of working to learn the skills to be a successful independent businessman, then my hat's off to you. i know that i couldn't do it. the point is, it might take longer for different people, and it also depends on the market and sheer luck as well.

eto sir i dont know if it will help pero I just develop this simple rule, this year lang and it's my own makeshift motto . "Focus on money, you get money. Focus on career, you get career."

on "judgment day" (or specifically when you turn 60), what do you think you will have more? career or money?

if it's career that you have more but you're already retired, will your career achievements help you in the next stage of your life? this question, I reserve to all of you career-oriented individuals na lang. no need to answer me or anyone here. basta sikreto nyo na yan sa sarili nyo.

iba naman yung sitwasyong sinasabi mo eh. you had a year of expansion where you doubled in size, which is always a challenge to manage, but apparently had the skills to keep it going successfully. i don't call that learning through failure, unless i'm missing something. you obviously already had the skills....compared to someone else who might not be as sure of themselves.

sir *m54_powered, I'm not a successful businessman. I was just plain lucky bec. I got in to a business model than nobody knew until the half of my business years.

You know the problem with just being lucky, you're not really a battle-tested businessman at all. but the biggest problem of all is not letting go when failure is inevitable. accept defeat, face failure, then regroup. it'll take time talaga and you'll lose a lot like what happened to me. I lost all my branches, except 1 pala but I'm selling it to a friend at bargain prices.

i'm in the regrouping stage right now. I'm happier though ... dont know why? in fact even happier than when I had a good-running business.

maybe it's the enthusiasm. lose it you lose your business regardless how skilled and intelligent you are.

[empy]

eto sir i dont know if it will help pero I just develop this simple rule, this year lang and it's my own makeshift motto . "Focus on money, you get money. Focus on career, you get career."

on "judgment day" (or specifically when you turn 60), what do you think you will have more? career or money?

if it's career that you have more but you're already retired, will your career achievements help you in the next stage of your life? this question, I reserve to all of you career-oriented individuals na lang. no need to answer me or anyone here. basta sikreto nyo na yan sa sarili nyo.





sir *m54_powered, I'm not a successful businessman. I was just plain lucky bec. I got in to a business model than nobody knew until the half of my business years.

You know the problem with just being lucky, you're not really a battle-tested businessman at all. but the biggest problem of all is not letting go when failure is inevitable. accept defeat, face failure, then regroup. it'll take time talaga and you'll lose a lot like what happened to me. I lost all my branches, except 1 pala but I'm selling it to a friend at bargain prices.

i'm in the regrouping stage right now. I'm happier though ... dont know why? in fact even happier than when I had a good-running business.

maybe it's the enthusiasm. lose it you lose your business regardless how skilled and intelligent you are.

ah, hokei. di mo kasi sinabi na hindi pala successful ang pagexpand mo. well good luck with the recovery.

basta ang payo ko lang sa magbubusiness eh make sure you are as prepared and as knowledgeable as you possibly can be. there is so much uncertainty and risk out there that you owe it to yourself to make sure you know how to deal with it.

i've been lucky enough to have the experience of setting up two new businesses, but with other people's money (franchises). on the first try - we were establishing a network of tax servicing offices throughout the Southern California area - we failed by my standards (made money, but underperformed expectations). the second time around i was much better at managing people, dealing with setbacks, and aggressively going after competitors, and was much more successful.

so i do agree with oldblue that failure is a great teacher, but it could have cost my company 5 million USD if we didn't turn it around. i can't imagine what i would do if that was my own money and i lost it.


sagutin ko na rin yung tanong mo about career vs. money, because this is an interesting topic. for me, i will be happy at the end of my career because i will have had experiences and accomplishments, and developed skills that i will always be proud of. i agree that my retirement income will not come from a paycheck or a pension, so i am doing what i believe every salaried career person should do - put every possible cent into investments that will give you retirement income (which is the whole point of the thread, hehe)

also, try to advance enough to get a position with profit sharing, stock options, or both. it really helps

[oldblue]

Correct! Rich Dad Poor Dad.
Don't work for money, let money work for you. Invest, invest, invest...that is kung kaya.

actually sir, I might have to disagree with this money investment/market thingy of rich dad, poor dad. yes sir we read the same book. read that mga 4 years ago pa. but I think most people have misinterpreted this book talaga or Rich dad for that matter. siguro after reading this, a lot of people immediately engaged in mutual funds, stock markets, time deposits, buy and sell, and the most popular of them all, networking/pyramiding.

although, a lot of people succeeded in these ventures, I did find someting lacking: a concrete business model ... concrete meaning a typical run-of-the mill, old-school type of business with employees, office/shop addresses, products, service. hindi ba't yun talaga si Rich Dad?

furthermore, if you'll analyze the book, I think Kiyosaki also failed to get the message of their rich dad. he admitted in the book (at the time of writing his bestseller) that his bestfriend, the true son of rich dad, was so rich (richer than him) and was managing his father's empire. Kiyosaki was engaged in what? opportunity investments, buy and sell of real estate, teaching, and last but not least, writing books. ask any real businessman, kulang pa ito or may inconsistency dito ... he can be compared to a drifter businessman with no concrete identity. money smart? yes, has an eye for opportunity? yes but concrete business. no.

having a concrete business is a must, bec. when all else fail (money investments, police investigating pyramiding scams etc) , kailangan may bato kang sasandalan, hence, concrete

[empy]

actually sir, I might have to disagree with this money investment/market thingy of rich dad, poor dad. yes sir we read the same book. read that mga 4 years ago pa. but I think most people have misinterpreted this book talaga or Rich dad for that matter. siguro after reading this, a lot of people immediately engaged in mutual funds, stock markets, time deposits, buy and sell, and the most popular of them all, networking/pyramiding.

although, a lot of people succeeded in these ventures, I did find someting lacking: a concrete business model ... concrete meaning a typical run-of-the mill, old-school type of business with employees, office/shop addresses, products, service. hindi ba't yun talaga si Rich Dad?

furthermore, if you'll analyze the book, I think Kiyosaki also failed to get the message of their rich dad. he admitted in the book (at the time of writing his bestseller) that his bestfriend, the true son of rich dad, was so rich (richer than him) and was managing his father's empire. Kiyosaki was engaged in what? opportunity investments, buy and sell of real estate, teaching, and last but not least, writing books. ask any real businessman, kulang pa ito or may inconsistency dito ... he can be compared to a drifter businessman with no concrete identity. money smart? yes, has an eye for opportunity? yes but concrete business. no.

having a concrete business is a must, bec. when all else fail (money investments, police investigating pyramiding scams etc) , kailangan may bato kang sasandalan, hence, concrete

according to the US Small Business Administration, 50% of all businesses fail within 1 year and 95% fail within 5.

by contrast, the US S&P 500 stock index has returned a historical average of over 10% over the past 80 years. that means every investor has doubled his money every 7 years (counting compounded interest).