Marketing is one of the most important skills that you need to develop whenever you plunged yourself into business. Marketing is the way you promote your products or services. It is a way to get your products known to the public and target your customers. In one of my previous posts, I wrote about some low capital marketing ideas. While there maybe a lot of ways to market the products or services of your business, you need to study first the so-called Four P’s in Marketing to hone and

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The Philippines is going to elect another leader this coming May. Who deserves to be the leader among those contenders? Who has the qualities of an effective leader? There are a lot of people that say leaders are born. Some say that leaders are made. Whatever your opinion on this, leaders should be ‘effective’ in their leadership and should be responsible to their constituents. Let’s discuss some of the qualities of an effective leader and apply these qualities to the

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Cash flow is the heart of a business. Cash flow determines if your business will prosper or fail. A positive cash flow provides good return of investment while a negative cash flow means that you are draining money in your business. Whatever kind of business you have, you must have the right cash flow management skills. Attention to details in the early stages of your business will pave the way for success. Here are some pointers I learned from Rich Dad Coaching Program to help you contain

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Kiyosaki says that most often than not, a home is a liability and not an asset. Why? It is because for most people their homes bring a lot of expenses to them rather than an income. They need to pay various home utility bills aside from the real estate taxes. Everyone knows that he or she can make money from home. Well aside from various home-based businesses such as blogging, and other outsourced work which you can do in the convenience of your own home, there are more ways for you to make

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One of the first eye openers for me is the Robert Kiyosaki’s Cashflow Quadrant. So far, it is the single and most powerful idea that I absorbed from Kiyosaki as it helped me improved my education on financial literacy. There is no doubt that each one of us has interests in improving our financial situation. Before you can begin your journey to financial freedom, you need to figure out exactly where you are because if you don’t know where you are, you can’t know where

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If you want to become educated on business matters, then one of the things that you should know is the financial statement of companies. You need to know how to read numbers because numbers don’t lie. Financial statements are the health check up of businesses. Just like humans, businesses can be subject of certain “diseases” that you should know before it’s too late. Here are some of the financial ratios that you should know to examine the health of a business. This

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Earlier, I made a post based on the things that I’ve learned from Kiyosaki’s teachings on the three basic business entities: Sole Proprietorship, Partnership, and Corporation. Kiyosaki says that most people earn money, pay taxes through withholding, and spend what little is left over. The rich do it differently. They earn money, spend it, and then pay taxes. The government gets less that way, and it’s legal. Employees of corporations: Earn       →     pay

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Passion is where your heart is. It is where your interests and skills thrive. When you have a passion for things, you tend to do better at those. Finding your passion is the key to success in all your endeavors.   If we compare Rich Dad vs. Poor Dad, Poor Dad’s slogans are the words of fear; Rich Dad’s slogans are the words of passion. While fear reflects disappointment and passivity, passion reflects confidence and energy. What builds wealth isn’t fear, but passion. Sometimes it is

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In one of my old posts, I gave some steps that you should take in your journey to financial freedom. Having financial freedom gives us the liberty of doing the the things that we enjoy without having to think too much on where to get the next meal that we would feed to our families. You may be familiar with Kiyosaki’s Cash Flow Quadrant where he divided people depending on where their income flows. It is the famous ESBI which stands for E-Employee, S-Self Employed, B-Big Business

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Ok, we tackled about the first two business entities already: Sole Proprietorship and Partnership. Like most of all of you know, the third business entity is Corporation. A third and very different choice of business form is the corporation. Unlike the sole proprietorship and the partnership, the corporation is an entity completely separate from you, the person incorporating it. Your company is now an “Inc,”, an Incorporated and with that designation comes some additional paperwork and

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Yesterday, we tackled about sole proprietorship as one of the three main types of business entities. As Kiyosaki said, sole proprietorship is not the kind of business entity that he can recommend because as a business owner, you would be “solely” responsible and liable to your business and there’s a risk of putting your personal assets in danger if the business fails. Today, we would tackle the next business entity and that is partnership. Like a sole proprietorship, a

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Let’s now review the three common business entities: Sole Proprietorship, Partnership and Corporation. In the US, there is one additional entity called LLC or Limited Liability Companies but since this is not applicable here in Philippines, let’s skip that for the moment. Let’s go first with the most common - Sole Proprietorship. “Sole”, as the word implies means “one” - you are the only sole owner of your business and you don’t have anyone to

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In one of my earlier posts, if you want to start a business and you don’t know where to find the capital to finance it, I enumerated some of the ways to fund and finance a business. In addition to seeking capital to finance your new business, you have to decide what form of financing you want. Will it be debt or equity financing, or a little of both? Debt financing is money borrowed and repaid over a designated period, usually with interest. This is an attractive form of financing

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We all need to have mentors if we have to reach some goals. Mentors are there to guide us along the way. They have achieved success in their endeavors and so they can teach us the do’s and don’ts that we should accomplish in order to mimic their success. Now that you’ve chosen your business, it’s time to choose your business mentors and your team. If you were planning to climb Mount Everest next year, wouldn’t you want to speak with someone who had survived the journey to

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