Archive for the ‘Uncategorized’ Category

Hi Everyone!

My series on “How To Make Money Run After You” will be my most lengthy series that will be published in Manila Bulletin by far, as such I believe that it deserves it’s own website. The new website is a hundred times more awesome than my already awesome business advice blog! so that I can organize and really teach all of you how to not just make money run after you but to be able to create “True Wealth”.

Go here now to check it out: http://wealthflowproject.com

For the past 3 weeks, I have been very busy creating a brand new site which contains not just my money management articles but ALL my business and investing articles including my super genius wife’s articles on career management. Once you get to the new site, you will immediately see how much effort I really put into it as all my articles are now much more organized and tasks and assignments as well.

What’s more is that I became really “obsessive-compulsive” about making sure that all my lessons are received by all and that the tasks and activities are clear and step by step. I call this the “Wealth Plan” and it is FREE for all of those who sign up on the new site. (On the right side you will see a big red arrow, can’t miss it really) Just place your name, email and phone number, then click register. Super easy!

Go here now to do that: http://wealthflowproject.com/instructions

Oh, by the way, you will also have a blast looking at all the “cartoons” I personally drew for the site! Yes, I also draw and doodle, one of my other hidden talents. Also, just to let you know, I drew all of the artwork on my iPAD and directly uploaded it into the site. Super awesome! I love technology don’t you?

So, for those of you who what to stop running after money and make “Wealth” flow instead to you,

go now to http://wealthflowproject.com  or just Click HERE Now

All the best!

Mark So, your handsome business mentor!

A couple of weeks ago I wrote an article entitled “The Best Advice I could ever give you about Money”.  I received a lot of feedback for that article and I thank everyone who read and wrote back. If you were not able to read that article yet, please read it here

This post is the story about how I started in business, the hardships I faced, how my wife was instrumental in making me succeed and the most critical decision I made in my life. If you are in debt right now, facing a failed business endeavor or starting to feel down, don’t give in and never give up.  Instead, read on as I hope that through this, you and others like you may know what it takes to win and succeed in anything you do.

In my “Best advice” article I mentioned that generating money for me was as natural as breathing. But after college, I decided to work for someone else and the pay was very good. I put my entrepreneurial ways aside because the salary, benefits and perks were just too convenient and hard to let go. As a result, I became complacent, over confident and cocky which made me careless about managing whatever I made. I spent it all on useless stuff. I never thought about the future because I honestly never saw that far. I was single, lived like there was no tomorrow and always thought, “I’ll spend my money now because I do not want to scrimp and save and be a slave to money. There is no reason to start thinking of the future. Live today because tomorrow you may die.”

I was a fool. I became careless and my debt began to pile up.

Then I decided to revert to my old entrepreneurial ways to augment my income. I thought that because of my high pay, I now have capital to start a serious business. Never mind if I was getting deeper and deeper into debt, never mind that I didn’t know how to manage the money that I earned, I’ll just do it.  I was young, handsome and stupid.

At that time, I was working full time in a multinational company. Because of the time constraints and pressures of my day job, I decided to just “let my money work for me”. I could not personally oversee the business on a day to day basis, so I hired a general manager and she convinced me to hire her cohorts with disgustingly high salaries. BIG MISTAKE. I ended up putting in 90% of my salary and bonuses into this business. Within 8 months, my debt had soared to close to a million pesos.

During the 6th to 8th month, I was already feeling the money drain away from me. I was always waiting for payday to come, this time not to enjoy the luxuries of life but to pay off whatever debt I had accumulated and the needs of the business which up until that point did not produce a single cent of income. My General Manager and her cohorts were milking me for all that I had and although I knew it, I was too arrogant to admit it at that time.

It was exactly like a dramatic movie scene where the room was dark and only the faint moonlight was peeking in, and in the corner of that room was me sitting, crying, and feeling the world falling apart. I couldn’t even think straight, I was close to a million pesos in debt. My job was my only lifeline and I was getting really tired of seeing all my hard earned money go away. Why and how did I get into this mess in the first place?

I asked myself repeatedly if I should close down the business and just pay off my debt slowly through my salary or if I should continue it and try to turn it around. The easy way out was the first option, and it was very, very tempting to just give in, to just give up.

Now I rarely find myself wallowing in self pity, it has never really been my style so after a full hour of drama alone in that dark room I made the most critical decision in my life.

I said to myself in a stern, scolding voice. “Get up, fix this and get it done. You have never been a loser Mark, don’t you dare start acting like one now” That night was the first turning point in my life which no one else could do for me, except me. So I got up, washed my face and started to feel better. So for those who have serious financial problems: “Get Up, Fix It and Get it Done. The first step is for you to first help yourself.”

HOW I GOT UP AND FIXED THE PROBLEM.

1 month before I met my wife: At that point, I had made a decision to fix the business, turn it around and get it done. Problem is, you will never get it done until you find a good enough reason to. For a month, the only reason that was driving me to fix the business was my ego but it was not enough. I found myself ready to give in and take the easy way out again.

I needed a stronger reason to stick to my decision. I prayed religiously for a month, and on October 9, 2000, that prayer was answered. The reason came in the form of my wife. You see I met my wife because I wanted to make a deal with her company to turn my business around. She was an entrepreneur herself and being more seasoned than me, she quickly turned down my business proposal. These were her exact words: “Your deal doesn’t make any sense for us to get into it.” That line, harsh as it may seem to you right now was actually the start of a beautiful relationship. …(Click here for the continuation.)

Click Here To Download the File!

Click Here To Download the File!

One of the top questions that I get from people is “What’s a good business to get into?” If you’ve asked this question yourself then you are in luck because in this article I will not only teach you how to choose one that is right for you but I will also give you 100+ Business Ideas for you to explore further.

So here are the instructions to download the list of 100+ Business Ideas

1.)    Click on the Icon above (Or Click Here)

2.)   When the Page refreshes, type in your contact details and Click “Register”

3.)    Check Your Email Immediately — The file will be emailed directly to your inbox.

Now let’s get started with the second part. Below are 5 questions that will help you tremendously when choosing and pinpointing the right business for you. If you can say YES to all 5 questions for any particular business in the list of ideas, then congratulations as you may have already found the business that you’ve been looking for.

Now, if after going through the list, you still can’t determine what business to get into, not to worry. Through the 5 questions below, I will hopefully clarify for you where you should start in your quest to find the business that you have been searching for.

The 5 Question Test:

Question # 1.) Am I really passionate about the idea? Or am I just joining a Fad?

Many times people start a business based on fads and not what they really want to do. They get into it because their friends or people that they know are getting into it. Instead of thinking this way, try to figure out what you really want to do with your life. If you find a business that allows you to do this, that’s the first positive sign. Scan through the list and just let yourself gravitate towards an idea or two in the list.

Question # 2.) Do I have a Customer / Customers who are willing to buy from me?

In my business seminars I always tell my students that the first step to making money is to find the customer first then build the business later. I also wrote a little bit about this in my article in Manila Bulletin last September 27 “How To Make Money With Zero Capital” but this question goes a little further, ask yourself. “If I get into this particular business, do I know of any one or groups of people who would be willing to buy from me, emphasis on the word me.

Question # 3.) Do I have any experience or skills in this particular business industry?

A very big plus before you start a business is to already have experience in a particular industry whether it is in sales and marketing, finance or operations, inventory management because one of the secrets of Entrepreneurship is to know how to add value to anything that will make it sell better. Your skills and experience matter. So ask yourself, do I have the experience or skills to allow me to carry out this business idea?

Question #4.) Can I commit the time and energy in getting this business started?

It is a myth to think that you can just hire someone to open and run a business for you from the start. I know because I did that before and it ended up horribly wrong. Abdication especially in the beginning will be disastrous. There is no other way about it — You will have to make time to work on developing this business even if it means working on it when you go home after your day job. So ask yourself, “Am I willing to sacrifice a bit of time and effort into getting this business started?  Can I stay committed to it as the going gets tough?”

Question # 5.) Can I see myself leaving this business to my children or the next generation?

Will you be proud of this business if you make it a success? Because believe it or not, 99% of people who want to start a business, want to start not just a racket but a legacy that they can leave their kids and generations to come. So ask yourself, can I see myself passing this business on to my children if they want to take over someday?

Enjoy and Good luck!

Feedback appreciated: I’d like to hear from you directly whether through my blog or email if my articles have helped you, if you have implemented any of the advices I’ve given and what is your most pressing question is about business. Your feedback will help me come up with even more relevant articles in the future.