Without doubt, each of us don’t want to invest because we are afraid of losing our hard earned money. The fear of losing money is the main reason a huge percentage of the public struggles financially. But fear isn’t the real problem. It’s how people handle fear that matters. Kiyosaki tells people that the primary difference between rich people and poor people is how they handle the fear of losing money. Some people, when hit with a financial loss, give up. Others transform the

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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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In continuation of my previous post in buying a business as one way of entering the B-Business Quadrant, another way of entering a business is by buying a business franchise. Say you don’t have the courage for a start-up or the breadth of experience to buy a business. Then maybe franchising is the ideal choice for you. Franchising is a readymade business system that offers a promising avenue into business ownership. A reputable franchise gives you the advantage of a tried and true business

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In one of my previous posts, I mentioned that there are four ways in entering a business: Starting your own from scratch, buying an established business, buying a business franchise, and becoming a distributor of a business. Let us tackle first here “buying a business”. Buying a business eliminates the aspiring entrepreneur the hassles and headaches of a start up business. Before you buy an existing business, Kiyosaki recommends to weigh its pros and cons first: PROS of buying a

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What are the common traits and qualities of billionaires? Note that we are talking here of billionaires, not just millionaires. Billionaires hold most of the world’s riches. They are taipans and tycoons of their respective businesses. I was browsing an article in Yahoo Finance and I found these interesting facts about billionaires. I thought that it’s worth to share with you as you may find some of these qualities interesting and odd. The study was conducted on Forbes 400 richest

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In continuation of my financial education from the famous Robert Kiyosaki, I recently learned about the foundations of a solid business. What does it take for a business to last long? What does it take to build a solid business that is strong enough to survive for at least 50 to 100 years? I would like introduce to you my readers one of the lessons I’ve learned from Robert Kiyosaki and this is about the B-I Triangle. Why did Robert used the triangle to portray the shape of a solid

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