It is my burning desire to be a full-time entrepreneur and to have a retail store business. I want to be hands on in running and managing my small business venture as much as possible especially during its start up stage.
My wife and I have a small business that started on April of this year. The original plan was to open it last December. However, due to uncontrollable situations, we moved it to April.
We started it first as a small retail store. We understand that in the beginning of every business there is always a risk. So, we will see how the things will work out.
I believe that in every venture it is necessary to start a baby step. If you get lost your investment on the early stage, at least the impact is not huge.
Our Stock – Drinks & Noodles
The best lessons I learned is start small and end it big. A small business has lots room to improve, to grow and to expand.
Why I want to have a Business Venture
Every one of us wants to get out from the four corners of our cubicle. In United States and other industrialized nations, working people is considered as middle class.
Most of the middle class American are living pay check to pay check. Entrepreneurship is one of the best solutions to get out from your job.
I want to have a small business in order to learn the in and out of entrepreneurship. I want to learn the process of setting up, dealing with the customers, running and managing it.
We are still working with our respective company while small retail business is running. My wife’s sister presently manages the store.
Business Venture – Tandem Couple
My wife and I already started feeling the stress from work. We also experience the effect of stress in our health, in our body and in the whole being.
We find it hard to deal with hard co-workers. You will find some are having attitude problems, lazy and zero knowledge about their work.
I observed also that those people who use to talk and nag are brainless and worthless individuals. The same also goes to superiors.
I want to stop driving for long hours because of my job. 4 years back, I was driving about 300-350 kilometers daily. I cannot imagine how I managed it for 6 days a week.
I spent 5 hours in the road daily for almost 4 years. The worst thing is I have to wake up early in order to leave early at home and reach my work place on time.
I am not complaining and don’t get me wrong. I love my job and I am happy with it yet it is normal to mankind to look for a better life.
I believe it is correct to look for solution what I find that is not right at present. Everybody deserves to live his/her dream life.
Store Business – Can Goods, Coffee & Milk
Next Wealth Building Steps
We are still saving most of our income. We need to be smart with our savings. We’ll be using the savings to be our capital for another business venture should we both quit our day jobs.
We have also plan to get funds from any government institution that could lend us capital.
Indeed, the smart solution that I can sense is to quit and start up a business.
I believe that setting up a business is bringing me and my family into the next level of wealth building. I know in business our future income is unlimited.
Feel free to share your stories about your business venture? Does your business bring you more income than what you earn from your job before?
Most of the people now want to trade their time and energy with money. Working with someone in exchange with salary.
It is okay to trade your time and expertise with money for 5 to 10 years. I know some people who get out of rat race after working few years.
Do you dare to trade your life because of attracted offer? The most daring is to trade your life with a promise of high salary.
Mistakes Working in Iraq
In recent year of political and social crisis in Iraq it does not stop for many expats to work there. Working in Iraq offer a higher compensation with tax free benefits.
Do you want to trade your life and career to work in Iraq? How about in Syria and Libya?
I have a friend, a mining engineer who is working in Iraq. He started working there since 2006. He was attracted of high salary and tax-free benefits.
We know that Iraq is not a peaceful country. In recent week, there a lot of killing accidents from extremist according to the news.
I cannot understand why some people gamble or risk their life for the sake of money. I think it is not worth it to take a job if you are not sure your safety. I cannot imagine why some people grab the offer even though they know the danger waiting for them.
Exemption of the Rules
To make this topic clear, there are some exemptions of the rules. Military personnel and advisers are exempted in this topic. They are sent to risky countries to depend the civilian and for global democracy reasons. I really salute their bravery, courage and unselfishness battle for the sake of public benefits.
Beautiful Places in Iraq
I am not talking also here those folks who are working with NGOs, UN or UNICEF and diplomats. I salute these organizations or individual who risk their life for humanitarian reasons.
In this post I am particular to those people who are getting job in government and private companies in Iraq, Libya, Syria and other risky countries. They do not mind the to work in the danger zone.
Lessons Learned in Life
What is the essence of earning huge money or tax-free income at the end you will become a victim from the civil war or political crisis?
We should learn from the mistakes of my friend while he was younger and productive. He mismanages his income and he is did not invest the most important asset.
When he gets loose his job, he thinks that is the end of his career.
Always have an Emergency Fund
Always make a habit to save monthly for your family emergency fund. You don’t know when you will get lose your job. Our global economy is not stable.
In fact, some of the jobs in United States are outsourced to other countries. Many manufacturing companies set up their own production line or plant in China or other countries in Far East. So, there is always a chance for jobs lay off in the USA.
Remember as you get older your chance of landing a new job is becoming small. Emergency fund is very important so that you will not be worried for your finances when you are temporarily loss your job. Your sense of feeling is different if you have money. It is true that you will not feel desperate to look for job if you have still savings in your account.
The rule of the thumbs is at least 3 to 6 months of your income. Within in this period you can live comfortably while searching for new work. Having an emergency fund worth 6 months of your income will not attract you to work in the risky country.
Keep Investing for Personal Growth
It is necessary to invest your own personal growth. You can earn additional skills or train yourself to make valuable to your company.
Do not stop investing yourself. You are the most important asset in your life. So, it is necessary to improve your skills and knowledge to become on the top of your field.
Investing for personal growth is improving your mind sets, your sale skills, and productivity. It is also the process of developing your creativity, decision making and resourcefulness.
If you are valuable, it is not easy for a company to fire you. If you are marketable it means many companies know your potential and qualification. A marketable applicant is not difficult to land for new jobs.
For one thing sure, if you are investing yourself or your career it is impossible to end yourself working in Libya, Iraq or other risky countries. In fact, you have a better choice to work in very nice safe place.
Never Underestimate Financial Planning
I observed that most people attracted to work in the risky countries are those who failed to plan their future. It is correct to say that people, who fail to plan their finances, are planning to struggle financially.
The best way to protect you for this scenario is to have a financial freedom as early as possible. It is true; if you are financially free you do not have worries if you lose your job. Your guilt feeling for your financial responsibility in your family could be avoided.
Everyone has a choice and can control his/her life. In fact, you are the only pilot of our life. If you have proper planning for your future and career then you have a better destination. Lastly, let may share you what Alan Lakein, a well-known author said; “Panning is bringing the future into present so that you can do something about it now.”
I was silent for more than two months due to many reasons. It was one of the saddest moments of my life. My mother passed away a day before our vacation.
I got the sad news while I was preparing for our vacation. My family is from Philippines. While I was in the plane for our flight to Manila, I am always thinking why it happened to our family and why not to other families.
Every year, my family is not paying for the airfare because my company pays for it. It is one of my benefits for working in Dubai.
It is not a joyful one month vacation. However, it is a necessity to escape from work stress and daily long driving.
“The idea of a perfect vacation is not working or not having to work and having no appointments.”- Tom Welling
I am always busy with my day job as an engineer and I found out that I need to unwind and relax from time to time. I feel healthier and better while on vacation. There is no worries and stress about my job.
We need time to recharge and remove stress from our body. We need to refresh our own being in order to be productive and efficient.
It is really true that relaxing is necessary for our healthy body, mind and soul.
Going for vacation is spending quality time with my family, having more time for bonding with my kids and family.
Wealth Desire Blog Comeback
Hope as I come back, I can update my blog 1 or 2 articles per week. I am balancing my extra time with my family, job and my blog.
In the next post, I will share to you about a true to life story about my friend and lessons I learned working in risky countries.
How do you set your financial goal? Do you have discipline about money and your finances?
Sometimes it’s all about you, how you educate yourself about financial education.
Chris Gardner became a self-made millionaire without college education. He became the top stock broker of his former company. Even without a college degree, it did not stop him to learn and master about stock trading. It did not stop him to put up his own stock brokerage company.
Bill Gates and Mark Zuckerberg are both Harvard University dropped out. Without college degree didn’t stop them to become successful. They choose to stop studying in the university to follow their own burning desires.
Financial success is a journey of your life. It is a continuous process of learning, acting, expanding and growing your wealth.
Actually, the advice from most parents, teachers, professors and the government is to a get a college degree. For them, financial success can be achieved through this old school system.
5 Secrets of Achieving Financial Success in Your Life
Develop and Adopt Right Mindset
Right mindset is important in achieving financial success in your life. If you think and focus on the scarcity of money and difficulty of financial life, you will not get rich.
You will get what you are thinking of.
However, if you are confident and you believe in yourself that you can be successful, chances is you will achieve it.
There is a secret psychology of money. Most people do not know about it. That is why most people never become financially successful. A lack of money is not the problem; it is merely a symptom of what is going on inside of you. – T. Hary Eker.
If you are specific to your end goal, then you will reach to your destination successfully.
It is not difficult to attract and working on your financial goal if you have positive mindset about money and wealth. If you are thinking positive about your future then you will become motivated.
You are probably driven working toward your goal because you are inspired and interested about your success.
For Successful People This is a Nice Place to Relax
Have a Simple Lifestyle
The next factor that has a big impact of reaching financial success is lifestyle. It is all about how we spend our income or money.
It is impossible to be successful if you are spending more than what you can afford of. Overspending is one of the reasons a person struggling financially.
If your income rises, maintain your cost of living. Avoid having debt as much as possible.
It is the debt that traps you in the rat race or keep you working. Other people keep working underpaid in order to continuously pay their bill and debt.
It is not enough only to have a goal or to dream wealth or money. Commitment is a must to achieve your desired wealth or to attain financial success.
If you are committed, it means you are motivated to do it or to make action for your financial goals.
Start doing some actions to reduce your expenses and to increase your income.
Remember, financial success cannot be reach without exerting effort or action. It starts with the baby step in every wealth creation journey.
Do you have a savings? Why you cannot start saving now at least 10% of your income?
If you start investing and savings early, you can reach your financial freedom early. You will feel the freedom in yourself if you have accumulated your desired wealth.
It means that you become financially free only when you attained your financial success.
If you will not make action to sow the seed, it will not grow as a plant. It is the same with our money and finances, if you will not make an action to save and invest, there will be no improvement on your financial being as well.
There’s a tendency that you will spend it. If you are not committed, you will spend your savings or extra money to unnecessary stuff, those stuffs that will only give us a short-term happiness. Yes, maybe 30 or one hour happiness. Do not let your money sleep in the bank; invest it to bring income to you. Buy assets that can regularly give you a passive income.
To become successful with your finances, you should focus on acquiring assets and diversifying your investment. It is true that creating multiple streams of passive income is the secret of getting rich fast.
Do you know that most of the affluent people and family are hiding their money?
Yes, they are legally keeping their money from the eye of tax collectors or government through offshore account. This is one way of securing their money or wealth.
As soon as you do diligently saving and investing your hard-earned money, the next step is to keep it secure from different wealth stealers.
And if you have business, you need to get a liability insurance to shield your wealth or business. Insurance is very important. It is use to protect your business against litigation, uncertainties or accidents.
If you invest in rental properties, you must also insure your real estate business with public liability insurance. Again, make sure that your real estate business has its own entity that can safeguard your other assets.
Securing your money and investment will continuously grow your wealth. You are accumulating assets constantly without risk exposure.
With a secured wealth and assets, it will guarantee you in attaining your financial success.
The secret of achieving financial success starts with your mind set. If you believe in yourself that you can attain your goals then go for it.
Commitment is another key of achieving success. Commitment causes a chain reaction to act and to do towards reaching the wealth you seek.
The amount of fortune you acquired or your net worth depends on the quality and quantity of your action. If financial success means huge amount of money, then you have to render too much dedication and hard work.
Indeed, your net worth is the reaction of your action.
Lastly, I will share what Sir Isaac Newton said about action; “for every action, there is an equal and opposite reaction”.
Feel free to share your secrets on how to attain financial success?
Do you want to know the ultimate key of wealth building? Why other people tap the keys to wealth creation while the average people are still dreaming of a better life.
This income is one of the best way to make money and very vital for building wealth. An American wealthiest person is using this wealth building system which made him truly rich.
Many top 400 billionaires from United States build and grow their fortune through different passive income. For the past few years, the wealthiest American now was just behind Carlos Slim Helu. However, he became the world’s richest person this year because of his passive income.
A passive income gives us the personal freedom. We can do what we love to do yet we are still earning regular revenue from passive income.
What I like most on passive income is you will only spend your time and effort at the beginning of the project or investment. You may work hard to establish the system that will pay you later or will give you better returns in the future.
If you are only focused on your job, what you’ll get is an active income only. You are working hard most of the time. Then, you always feel that your income is not enough and you are struggling.
In fact, if you are not a hard working type of employee, creating passive investment income that can provide you cash flow is a must.
If you don’t love your job, you don’t love your boss and you don’t love your company then having a passive income can help you quit your job.
You need to have recurring earnings while you are still working with your day job.
Like other billionaires, without their physical involvement on the day to day operation of their businesses, still they are making huge income. It is true that most of the companies of this richest man are managed or run by other people.
Like Bill Gates, he quits from his job in Microsoft to concentrate on his charity works with his wife. He spent and donated a total of $36 billion from the beginning till now.
The key to his wealth building is multiple income streams. His various incomes are coming from different investments that include dividend from stocks, profit sharing from his business and investments and many more.
Why Passive Income is the Key to Wealth Building
Give you a Generating Cash Flow
The most important word in the world of money is cash flow. The second important word is leverage. -Robert Kiyosaki (Best Selling Author)
Successful people’s priority is to establish a system that can provide them a lifetime cash flow in order to get rich fast. Like rich and wealthy people, they heavily put their money on investing assets that will generate regular income.
In fact, they know that they can get rich fast with their multiple passive incomes. That is why they are focused on their priority. They prioritize their passive investments that have good returns without too much effort.
Additional cash flow from different streams will add to your income. If you maintain your standard of living, absolutely you will have huge extra money. You can save and invest your extra income as well.
Get Rich Fast to live in Paradise
Give you Financial Freedom
I swore I was going to exclusively collect assets and not liabilities for the rest of my life. I swore never to take gambles I couldn’t back up, or that I couldn’t afford to lose. And, I’ve stuck with that ever since. – Tim Blixseth (American Billionaire)
Do you remember one of the books of Robert Kiyosaki about cash flow?
The title of the book is Rich Dad’s Cash flow quadrant: Guide to Financial Freedom
Reaching financial freedom is based on where you belong in the four quadrant of financial life. Now, if you want to be a financial free, you have to start preparing yourself in B (business owner) and I (investor) quadrant.
People in the B and I quadrant are earning income with the majority coming from passive income. Money work hard for business owners and investors to give a regular income.
If you are an ordinary employee and still in the pay-check to pay-check lifestyle, the best thing you can do is to decide which quadrant you can generate passive income. Learning they key of getting out of rat race is the same key to start building wealth.
Passive income brings you to the fast lane of wealth building because you are making money even in the night time. Your assets are giving you income while you are enjoying vacation, relaxing or working with other business.
The ultimate key to wealth building is based on how you generate your income.
The moment you started accumulating assets, your financial life will change. In fact, you are growing your wealth quickly. That is the secret of getting rich fast.
Indeed, it is the passive income from different assets is the key to build wealth and to make you rich fast.
Earning a bachelor degree or higher education will give you a higher chance to land a high paying job or promotion. According to the report from USNEWS.COM, college degree holder earns about $2.7million over their lifetime. While those holding doctoral, professional degree and master degree earns about $3.25 million, $3.65 million and $2.67 million respectively in their lifetime.
On the other hand, those groups of people with high school diploma usually earn $1.30 million only over their lifetime.
Most of the valuable employees earn more knowledge through higher education. They become marketable because of their expertise, intelligence, and excellent communication skills.
If you want to create wealth from scratch as an employee you should have at least bachelor degree like Steve Ballmer, the former CEO of Microsoft Corporation. Others pursue higher education like MBA or master degree in order to attract multi-national employers and to double their income after 2 to 5 years.
Most of the major corporation offer high salary and perks to individuals that have problem-solving skills. Employers want a manager or an executive that can solve company problems quickly and efficiently.
Problem solving is the process of predicting, analyzing and mitigating a potential problem in order not to occur and not to recur. In a real world of business, it refers to corrective action taken to prevent further failure of the products or process.
If you can possess problem solving skill, your employer knows that you can use your logic and imagination to solve whatever problem you might encounter. They know that you can come up with an effective solution.
Now, if you have a desire to get rich and to double a salary, you must develop a problem-solving skill. Having a unique skill can help you build a reputation being someone who can handle tough situations in a wise and positive way.
Practicing this skill can make you a big contributor to your organization. The bigger your contribution to your company’s success, the higher compensation you can demand.
Indeed, having a unique skill can make a huge influence to double your earning and to grow your career as well.
Maintaining positive attitude make an employee open to accept more responsibility and willingness to provide good quality work for the success of the company. It means that an employee always feel better to do his work and more satisfied to complete his or her project before the deadline.
Working with positive thinking will enhance your productivity. Your employer will immediately notice your accomplishments and attitude towards work. Employees with positive attitude get easily a promotion and bonus.
I have a friend who keeps complaining about his work and his company. Yet he did not get promotion or increase of salary for about 6 years in the company while his other colleagues get easily promoted to higher position.
I think that is the problem if people focused on negative things, they are also getting negative income, negative in the sense that they always feel that their job is giving them a not enough income.
To double or triple your compensation you should focused on positive thinking towards their job and company.
In fact, most of highly paid employees and executives are positive about the growth of the company and their own career growth as well within the company.
That is why most of the employees who earn higher salary are those with positive attitude. They complete a lot of works easily and efficiently compared with other colleagues.
When you have a big responsibility in your organization, it means that you have management skills that can make you valuable. Usually, having a huge responsibility may warrant a pay increase.
If you want a salary increase or planning to double your salary, you must look at any possible opportunity or vacancy for higher position in your company. It is not enough to work hard and spend more time in your job. It is your responsibility to ask for promotion.
Observe the supervisors, managers and executive people; they are getting a higher wages because they are having bigger responsibility and accountability.
With a higher responsibility, you can show up more achievements.
Remember this, your company may offer you a higher salary with huge bonus because of your significant contribution to company while you are in higher position.
If you are a good leader in your field or department, your chances of getting double income is big. The tendency is you can influence your subordinates to well. Your people become more productive.
Hard work Cannot Double Your Pay
Once your department or company become productive, the management or board of directors will notice your accomplishments. Remember that every achievement deserves increment or rewards.
Employees that have good leadership skills usually get promoted quickly and earn higher pay compared to their peers.
Most of the time, the board of directors are appointing CEO based on experience and leadership history. It is necessary to have a good leader in team building of the company. This is to surely achieve success of the company through other managers and employees.
In terms of wealth building and being successful one of my idols is William “Bill” Gates. Bill Gates is the 2014 World’s Wealthiest Person. Though he spends a lot of his personal money for charity works yet his net worth surpass the wealth of Mr. Carlos Slim.
Are you curious about what Bill Gates has and why he is successful? Like you, I want also to know his wisdom and inspiring words to keep me motivating while working with my desire wealth.
Learning from his motivational quotes will give us more wisdom. I know that having good wisdom can improve our decision making skills. Decision making is one of the important skills that can help us to get out from rat race and to build our own desired wealth.
Bill Gates House
What inspires me is his dedication toward developing software. He dropped out from Harvard University to pursue his goal. He brought his simple burning desire into one of the biggest company in the history of mankind.
Let be inspired and motivated with Bill Gates Unparalleled Quotes.
Bill Gates Quotes About Success
Its fine to celebrate success but it is more important to heed the lessons of failure.
Bill Gates Word
Success is a lousy teacher. It seduces smart people into thinking they can’t lose.
Our success has really been based on partnerships from the very beginning.
If you are born poor it’s not your mistake, but if you die poor it’s your mistake
Bill Gates Motivational Words for Wealth Building
If you give people tools, and they use their natural abilities and their curiosity, they will develop things in ways that will surprise you very much beyond what you might have expected.
Bill Gates Tennis
In this business, by the time you realize you’re in trouble, it’s too late to save yourself. Unless you’re running scared all the time, you’re gone.
The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.
Information technology and business are becoming inextricably interwoven. I don’t think anybody can talk meaningfully about one without the talking about the other.
This is a fantastic time to be entering the business world, because business is going to change more in the next 10 years than it has in the last 50.
Bill Gates Family
Bill Gates Inspiring Quotes About Money
Bill Gates Celebrity
I actually thought that it would be a little confusing during the same period of your life to be in one meeting when you’re trying to make money, and then go to another meeting where you’re giving it away. I mean is it gonna erode your ability, you know, to make money? Are you gonna somehow get confused about what you’re trying to do?
The general idea of the rich helping the poor, I think, is important.
If you can’t make it good, at least make it look good.
We’ve got to put a lot of money into changing behavior.
Bill Gates Wisdom
I believe that if you show people the problems and you show them the solutions they will be moved to act.
Do you want to build wealth from scratch? Do your dream to be rich while working with your company?
Few lucky individuals build a fortune from scratch while working in their company. They do not have monetary capital to get rich and to be wealthy. Actually, they traded their time, talents and effort to earn huge money.
Today I will give you two persons who build wealth from scratch.
I am referring to the two of the great employees in our generation. Yes, these two persons are not the owner or the founder of the company they are working with yet, they build huge fortune that they can pass on to their next generation.
Yes, it is true that most executive employees and the CEO can simply build a fortune by earning huge of income from salary and bonuses. It is not impossible to be a valuable and high rank employee. However, it is competitive to climb the corporate ladder to be one of the highest paid pedigrees of your company.
Any person can build wealth from scratch as an employee. He should have the qualities of a top and competitive CEO. Multinational and public companies offer a minimum of $10.8 million wages every year for the sufficiently clever and talented CEO.
Wealth From Nothing – Margaret Cushing Whitman
One example of successful billionaires who builds her wealth from scratch is Margaret Cushing “Meg” Whitman. She is the present CEO of Hewlett Packard. According to Forbes Magazine, she has a total net worth of $2 billion.
Another great example who builds wealth from nothing is Steve Ballmer. He is the former CEO of the Microsoft Corp. He was hired as the first manager and he is the number 30th employee in Microsoft at that time with a salary of $50,000 and has percentage of company ownership.
Making Wealth While Working – Steve Ballmer
From a business manager in 1980, he became CEO in 2000. As a CEO, he increased the annual revenue and the net income of the company. He even surpasses the performance of other companies well known CEO.
He became billionaire as a valuable leader and manager. No wonder he builds a fortune from his huge salary, perks and stock options as an employee of Microsoft Corp.
Today, his net worth is about $18 billion. Not bad for a bachelor degree holder.
Tips to build wealth from scratch
To be successful in your job, you should not be attracted to money only but to develop important skills that will make you marketable. You have to work effectively in handling your subordinates, products and processes.
Additionally, you can get out of the rat race while you are a regular employee in your company. If you can manage your career and bring to the next level, you can surely get out of financial trouble. You will earn huge compensation if you deserve it.