Life of a Youthepreneur

What is 100% in life ?

noreply@blogger.com (JOEho) — Sat, 12 Jan 2008 17:24:00 +0000

Now, take a look at this...

101%

From a strictly mathematical viewpoint:

What Equals 100%? What does it mean to give MORE than 100%?

Ever wonder about those people who say they are giving more than 100%?

We have all been in situations where someone wants you to GIVE OVER

100%.

How to achieve 101%?

What equals 100% in life?

Here's a little mathematical formula that might help answer these

questions:

If:

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Is represented as:

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26.

If:

H-A-R-D-W-O-R- K

8+1+18+4+23+15+18+11 = 98%

And:

K-N-O-W-L-E-D-G-E

11+14+15+23+12+5+4+7+5 = 96%

But:

A-T-T-I-T-U-D-E

1+20+20+9+20+21+4+5 = 100%

Becoming an Entrepreneur

noreply@blogger.com (JOEho) — Thu, 01 Nov 2007 16:55:00 +0000

Thinking about starting your own company? Do you have what it takes? Is it worth all the pain and suffering?

There is no way to eliminate all the risks associated with starting a small business. However, you can improve your chances of success with good planning and preparation. A good starting place is to evaluate your strengths and weaknesses. Carefully consider each of the following questions.

Are you a selfstarter? It will be up to you - not someone else telling you to develop projects, organize your time and follow through on details.

How well do you get along with different personalities? Business owners need to develop working relationships with a variety of people including customers, vendors, staff, bankers and professionals such as lawyers, accountants or consultants. Can you deal with a demanding client, an unreliable vendor or cranky staff person in the best interest of your business?

How good are you at making decisions? Small business owners are required to make decisions constantly, often quickly, under pressure, and independently.

Do you have the physical and emotional stamina to run a business? Business ownership can be challenging, fun and exciting. But it's also a lot of work. Can you face 12hour work days six or seven days a week?

How well do you plan and organize? Research indicates that many business failures could have been avoided through better planning. Good organization of financials, inventory, schedules, production can help avoid many pitfalls.

Is your drive strong enough to maintain your motivation? Running a business can wear you down. Some business owners feel burned out by having to carry all the responsibility on their shoulders. Strong motivation can make the business succeed and will help you survive slowdowns as well as periods of burnout.

How will the business affect your family? The first few years of business startup can be hard on family life. The strain of an unsupportive spouse may be hard to balance against the demands of starting a business. There also may be financial difficulties until the business becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk.

It's true, there are a lot of reasons not to start your own business. But for the right person, the advantages of business ownership far outweigh the risks.

* You get to be your own boss.
* Hard work and long hours directly benefit you, rather than increasing profits for someone.
* Earning and growth potential are far less limited.
* A new venture is exciting.
* Running a business will provide endless variety, challenge and opportunities to learn.

Some Terminology:

* Asset – anything that puts money into your pocket.
* Liability – anything that takes money out of your pocket.
* Interest – the profit gained in goods or money that is made on invested capital
* Profit – the amount gained after selling goods at above the cost of production.
* Investment – anything that you share with the goal of gaining interest in the future.
* Capital – the amount of investment in a business activity.
* Capital gain – the increase in value of asset between the time it was bought and the time it was sold.
* ROI (return on investment) – time it takes for your invested money to return and then start generating income for you.
* Income – money generated by business or employment activity.
* Amortization – payment made for a loaned product or services equally distributed over a period of time.
* Loan – products or services acquired in advance with interest, promising to pay at some future time.
* Liquid – a financial state wherein you have lots of cash and no loans.
* Risk – the possibility of loosing your investment
* Financial Freedom – a state in life where in your investment and money works for you and not the other way around.

Some Tips

1. Don’t buy depreciating items on credit (cellphones, cars, appliances, clothes, shoes, etc.) buy them in cash , save and wait till such time you can afford them. Settle for items you can only afford. At current market interest, your total payment is almost 3 times the selling price by the time you finished paying your amortization if you buy on credit, while the market value of your purchased item already went down to near 50% or more of the original price.

2. Beware of marketing promos . There is no such thing as a “0” interest loan amortization . Sellers actually included the interest in your monthly amortization but advertise 6 or 12 months “0” interest. If you want to buy a “0” interest item in cash, you should ask the seller to give you the “interest free” price or tell them to remove the “hidden interest” in exchange for cash purchase. Or ask for discounts for cash payments.

3. Compare prices for the same item in different stores if you have time before actually buying .

4. If the item has no price tag, you should ask for discounts on the asking price of the seller.

5. Avoid impulse buying especially expensive items. Think it over for a day or two then decide if you really need it “now”. Control your spending habit. If you don’t , you will always complain your income is not enough.

6. Keep only ONE credit card, use it for convenience NOT for credit. Always pay the full amount once you get the bill. Choose a reliable credit card company . Sometimes you will encounter malfunctioning Point of Sale systems, tell the establishment to call the credit card company directly and then ask for approval via phone. As much as possible, always have cash on hand or in your ATM card and use it as the Credit card backup.

7. Don’t get a Gold Credit Card if you are after the “being rich” perception. You will pay 2x the membership fee as the regular card . And your spending temptation will be 2x as powerful as well.

8. Always save at least 20% of your income. Opportunity always comes, and usually those with “cash on hand” gets it.

9. Invest a percentage of your savings to generate more income. There is no harm in not investing and just playing safe on bank savings accounts, but your money will earn more if you invest. (stocks, bonds, mutual funds, real estates , start a business etc.) There are risks involved in investing money and sometimes you loose your investment. But the lesson learned in that failed investment is usually worth a lot more. Knowledge and experience gained is priceless in this information age. Start your investment activities while you are employed , it will prepare you in your retirement years.

10. Be aware of “Get Rich-Quick” Investment scams. If the promised interest rate return on investment is “unusually large” compared to the actual market rate, most probably it is an investment scam. No legal business will pay you double or triple the current market interest rate . If somebody promised an interest rate of 5% or more per month, that will be a 60% interest rate per annum. No business can generate that big profit for their investors. It is usually a scam and they will use your investment money to pay the interest of the other investors . This is commonly called as “pyramiding” it will crumble at some point in time only the pyramid owner will be rich and ran off with your money.

11. Conduct garage sales at least every 2 years to dispose of your old-unwanted items and generate additional income. You will also learn a lot in the “garage sales process”. Your “garbage” is usually a precious item to others. Sell low and sell only those you think are worth buying. Donate those that are not . You will get a good reputation as seller and will be usually successful in your other future “selling activities”. Donate or give for free all unsold items at the end of your garage sale. You will feel great happiness – and that is priceless.

12. Work hard and be a responsible employee. You will be financially rewarded accordingly when your business grows as a result of your collective hard work. A good work attitude is contagious and will always bring harmony in the work place.

13. Live within your means. Never mind if you have old clothes, old shoes, old cars, old and in-expensive cellphones/appliances , small house in a non-exclusive area, etc. because it is what you can afford for now. It is much better than having all the new luxuries that you can’t afford and then crack your brains every pay day thinking how to pay all your bills and loans. This is called “pay-check to pay-check” living. A lot of people have fallen to this “trap” mostly brought about by credit companies and bank loans (credit cards, loan sharks, etc.) We all make mistakes and had experienced this lifestyle brought about by modern living one time or another. The more important this is to learn from our mistakes.

Life of a Youthepreneur part 14 : Network of people

noreply@blogger.com (JOEho) — Sat, 27 Oct 2007 09:01:00 +0000

Goal setting was set before i ORD from my army... Mentor teach me how money works over the years in army. I began to transform myself as in reading more business books and business magazine rather than hobbies kind of topic.

Mentor teach me the most important of all business is how many people you know in this world. The network of people...and good quality people. Many talents people are ar0und this world but not many people can lead them into a powerful team. Meaning not many people can gather talents around him or her coz is not a easy job ! In today world...many talents people are scatters around is a matter of time who going to lead them ! lead them where by using their talents and do something big! whatever business you do, u need lots of contacts or even a database of quality people or professional to help run the business or system.

Why many business fail ? not many people do not know the power of network people. why izzit so ? you can have different types of network. Network of big investors, network of professional that can help u when u in need or problems, network of supporters, network of customers, network of leaders etc ! is a matter of who u know and what kind of people you know in this Information Age.....

If I work hard, is it guaranteed that I'll succeed?

noreply@blogger.com (JOEho) — Mon, 22 Oct 2007 05:34:00 +0000

So what is your answer to the above question?

Most people say 70% hard work, 30% luck.

Do you agree?

I don't.

The truth is, if you work hard, you are guaranteed to succeed, period!

"But I've worked very hard, why am I not successful yet?"

I'll give you the answer later, but let me explain why hard work guarantees success.

The world is governed by a set of laws and these laws work with mathematical certainty. Some of the well known laws are the law of gravity and the law of action and reaction. These laws are taught in school because they can be proven by science. Some laws cannot be proven scientifically and thus, they are not in the mainstream of our education. One of these laws is the law of compensation.

The law of compensation simply states that you get compensated for whatever you contribute, nothing is lost and nothing is wasted. If you work hard, you will succeed. That's it. There is no other conditions. There is no BUT..... There is no UNLESS....

Ralph Waldo Emerson (1803 ~ 1882), one of America's most influential philosophers, explains the law of compensation: “The whole of what we know is a system of compensations. Every defect in one manner is made up in another. Every suffering is rewarded; every sacrifice is made up; every debt is paid.”

If you work hard, creative ideas will come to you. If you work hard, you will meet benefactors and other people who can help you to succeed. If you work hard, resources that were not available to you in the past will become available to you now. What other luck do you need?

"But I've worked very hard, why am I not successful yet?"

This question was also asked by a friend of mine, who said that he had worked very hard and yet his business was still not making money. He said he was not compensated for the hard work he had put in.

Is it true? Let's see.

The truth is this friend of mine had been working very hard to solve problems, not working very hard to make money. He had been working hard to solve his problem with his supplier. He had also been working hard to help his employees to solve their problems, which have nothing to do with him! He worked hard to solve all kinds of problems. So in the end, the law of compensation worked. He becomes a great problem solver. The only problem he didn't solve is to earn enough money to continue with his business.

Take myself for example. I try to spend most of my time on money making activities. I'm either promoting my websites or networking with my customers or creating more products that can make more money in the future. As much as possible, I leave other tasks like customer service and accounting to other people. What about problems? Well, I have been "advancing" from my problems for a few years and I have little problems to solve now. What I have now are challenges. Problems are boring and annoying, challenges are exciting and interesting. See the difference?

The law of compensation only warrants you success in the area where you've worked hard, not in the area where you "think" you've worked hard.

For instance, if you have been working hard days and nights to provide for your family and one day your wife leaves you because she says you don't love her, please don't be mad because the law of compensation in this case only compensates you with financial stability, not love. See what I mean?

Another example, you may be working hard to learn how to make money online. If you do just that, you may deserve a degree on how to make money online, but you will NOT make money. You will only make money when you work hard to do things that can generate profits, not learning how to make money.

I hope I've given you enough examples to illustrate the idea.

After today, I hope there is no more excuse for any underachievement in you. Work hard and success will be inevitable. Just make sure you are working hard at the right thing!

Life of a Youthepreneur part 13 : Goal Setting

noreply@blogger.com (JOEho) — Tue, 16 Oct 2007 17:17:00 +0000

Goal Setting

Definition: Establishing short- or long-term objectives, usually incorporating deadlines and quantifiable measures

If you really want to make a success of your business, it's important to define your business goals, especially before you get started. For some people, the goal is the freedom to do what they want when they want, without anyone telling them otherwise. For others, the goal is financial security.

Setting goals is an integral part of choosing the business that's right for you. After all, if your business doesn't meet your personal goals, you probably won't be happy waking up each morning and trying to make the business a success. Sooner or later, you'll stop putting forth the effort needed to make the concept work.

At its simplest, a goal is just something you aim for. But goals are powerful contributors to successful business growth in several ways. To begin with, the process of setting goals forces you to think through what you want from your business and how growth may--or may not--provide that. This process helps suggest directions for pursuing that growth, which can greatly improve your chances of achieving your goals in the first place.

Goals also give you a framework within which to work. This tends to focus your efforts by helping you rule out actions that won't contribute to achieving the goals you've set. A very important part of that framework is a timetable. Any good goal has a timetable, and that timetable will influence your actions profoundly. When setting goals, aim for the following qualities:

Specificity. You have a better chance of achieving a goal if it's specific. Raising capital isn't a specific goal; raising $10,000 by July 1 is.
Optimism. Be positive when you set your goals. Being able to pay the bills isn't exactly an inspirational goal. Achieving financial security phrases your goal in a more positive manner, thus firing up your energy to attain it.
Realism. If you set a goal to earn $100,000 a month when you've never earned that much in a year, that goal is unrealistic. Begin with small steps, such as increasing your monthly income by 25 percent. Once your first goal is met, you can reach for larger ones.
Short and long term. Short-term goals are attainable in a period of weeks to a year. Long-term goals can be for five, 10 or even 20 years; they should be substantially greater than short-term goals but should still be realistic.

There are several factors to consider when setting goals:

Income. Many entrepreneurs go into business to achieve financial security. Consider how much money you want to make during your first year of operation and each year thereafter, up to five years.
Lifestyle. This includes areas such as travel, hours of work, investment of personal assets and geographic location. Are you willing to travel extensively or to move? How many hours are you willing to work? Which assets are you willing to risk?
Type of work. When setting goals for type of work, you need to determine whether you like working outdoors, in an office, with computers, on the phone, with lots of people, with children and so on.
Ego gratification. Face it: Many people go into business to satisfy their egos. Owning a business can be very ego-gratifying, especially if you're in a business that's considered glamorous or exciting. You need to decide how important ego gratification is to you and what business best fills that need.

The most important rule of goal-setting is honesty. Going into business with your eyes wide open about your ultimate goals lets you confront the decisions you'll face with greater confidence and a greater chance of success.

Life of a Youthepreneur part 12 : Dare to fail

noreply@blogger.com (JOEho) — Tue, 09 Oct 2007 16:20:00 +0000

Knowing that will power can call out a person full focus on something, normally they will did something that they never think of. Well not every time the will power can call out... one most important thing in everyday life that is people need to fail. Once you fail, success will come. You must dare to fail , fail and face the reality/facts/honest to yourself. You see not many people dare to face the reality... some tried to avoid it if they could.

In life most people try to avoid things they were uncomfortable with. They often want to be comfort zone. Meaning they are not willing to step out the comfort zone and learn something new each day. Even they could step out they are not ready to commit themselves. Why izzit so ? because when they met any problems they gave up easily. Just like business, normally you fail afew times before you success with one. Many people not ready to commit and prepare to failed yet they always thinking of making big money.. they not ready to learn new stuffs in life..in terms of financial planning,learning new skills,listen to the pro.

Most people like to avoid, the fear of fail often cause stop learning in life.. most of the time these people will start to blame their boss, heaven, other people. Complaining here and there...dont you guts find it strange? if that person got the time to complain why not put those time in good use? maybe learning something new or reading something interesting. Once they failed, most of fear of trying again... so if you thinking of making big money be prepare to fail and commit time =)

Life of a Youthepreneur part 11 : The Will power

noreply@blogger.com (JOEho) — Wed, 03 Oct 2007 07:55:00 +0000

After knowing so many type of business, every different type of business you must dare to fail a few times before you success in one. Not many people dare to fail or dare to face the reality in this world. Mentor always told me if you want something desperately on your mind you will really get it. At first i not sure what he mean by this but....something happened in the following weeks.

We were training in the camp for our SOC test. A test most solider fear of because to pass SOC you need to be really fit. Before the test we were training so hard for weeks, i was the weakest among the platoon and i always failed during training. Whenever i see people past during the training, i was asking myself when is my turn ? my mindset was abit out and i kept telling myself i sure fail during the test. I was so scare and dont dare to face it.

I remember correctly before the test they announced for those who pass their SOC test this week, will get to book out early the next day. That night before the test i called someone who i fall in love for a very long time. I was asking her if she free on friday for a lunch date ? To my surprised she agree and i havent pass my soc test. If i fail my test i will not going for date and if i pass i am able to meet her up. You see if i fail i need to wait for maybe a month or so to see her again, which i dont want it !

My mindset suddenly change, i was telling myself i going to pass to see her the next day ! before the test began , i never think of anything but the only thing on my mind was to see her the next day. The passing timing was 10mins , and knowing i never passed once, i never care about anything much but to see her the next day.

During the test i was running the last because the few exercise i was very weak , but i never gave up, i was very tired and shag during the test. Something trigger me during the test i see my watch and is going to 10mins ! my sudden will power to see her the next day was been trigger and exploded! my whole body was full of energy and i was running faster and faster never think of tired and shag. Finally i came in 9.59mins !!!! and i passed!

You see from this incident everytime people told me they want to be successful in life, are you sure? are you willing to overcome all the problems before you became successful. Human mindset is like this , in normal days we only using 5% of mind while the rest of 95% was hidden power. Yes the will power was very powerful because you wont believe you will did it. Normally to trigger will power only afew incident will trigger, sometimes when you are in danger, you want something desperately,you are in a quarrel. You will do something you believe it, and is the power to overcome your own limitation. And if you know how to trigger your will power properly nothing is going to stop you from advancing. Believe it or not is up to you but there is really such thing as WILL power. And if you apply on business or entrepreneurship term is very useful because everytime trigger you already knew you have overcome your limit. Every successful entrepreneur also overcome their own limitation before they became successful =)

Life of a youthepreneur part 10 : Different kind of business

noreply@blogger.com (JOEho) — Tue, 02 Oct 2007 08:34:00 +0000

After knowing different kind of people in this world, i ask my mentor again. Hey mentor how many kind of business in this world then? till now there are 5 kind of business you can step in.

Traditional type of business

this is where you develop your own business. To become successful in this type of business. You need to do the following.

Find a mentor that already done what you want to do.
Do not find adviser , adviser is someone who tell you how to do it, but has not personally done it
Be careful of the advice you take, keep your mind open. You must first aware that which kind of Quadrant ( Read cashflow) people they came from.
In Business world, you must be leader of people but not a manager of people. Managers often see their subordinates as inferiors. Leaders must direct people who are often smarter than them.
Develop own system is harder and require lots of effort and time.
You may fail more than one company.
The hard thing about building a company from scratch you have two big variables : the system and the people building.

Franchises

Think of buying a franchise as buying a branch office of a business - a branch office that you'll own. Franchising is a way to distribute and sell products or services. A franchise is a contract between two parties, the franchisor (the seller) and the franchisee (you.) That contract governs how you'll do business.

For a price, the franchisor lends you the name of the business and gives you a detailed system to run the business. The product or service has to meet the franchisor's quality standards. The franchisor often supplies the products sold by the franchisee.

After paying an initial fee to the franchisor, you run the business. Frequently, you'll also pay regular fees, or royalties, to the franchisor. These fees are a percentage of the money the business earns.

The franchisor provides the know-how in marketing, management, financing, location, and training. You bring your entrepreneurial spirit and the drive to make the franchise a success.

Many franchises start out as one person's business. It succeeds, and the business owner expands the business by franchising it. The original business owner sells the right to operate branches of the business to people like you.

There are more than 320,000 franchises in the U.S., in 75 different industries. The International Franchise Association says that one out of 12 retail businesses in the U.S. is a franchised business.

When you buying a franchise , you are buying a tried and proven system
By buying franchise system, instead of trying to create your own, you can focus on developing your people
Buying the system let you learn how to be a businessman
The reason many banks will loan money on a franchise and not to a small start up business is because the bank recognize the importance of system.

Network Marketing

Also call multilevel marketing or direct distribution system. Just like franchises, the legal system initially attempted to outlaw.

It’s Year 2007 and no more traditional MLM like the past, it’s newage MLM now which all automatic system. All you need is to spend 1 or 2 hours at home doing your own business with your pc like me…

There are millions of people in Multilevel Marketing (MLM) who generate more then 6 figure incomes with ease in Multilevel Marketing.

Achieving great success with MLM is all up to your own personality. If you think BIG, it will be BIG with your action but if you think BIG without action the Multilevel Marketing opportunity will show you no results. The people who earn huge in MLM are the business minded types of person. All the successful network marketers who earn more then 6 figure incomes are entrepreneurs in their heart.

Marketing a Multilevel Marketing opportunity also requires you to be persistent till you succeed. Many don’t like this as it means having to work at it. The question is how much do you want your life to be? You must be focused on your objectives and goals. And be prepared to do a lot of learning as no learn no gain. MLM doesn’t require any initial experience in business but you must remember the learning curve that you will need to go through to be able to achieve huge success with a Multilevel Marketing opportunity.Right now mlm had already change in a way of not how good is their product but rather how good is their concept.

BLOGOPRENEURS – THE NEW AGE OF ENTREPRENEURS

You might ask what exactly in the world is a Blogopreneur? You might be also wondering what does it take to earn that title and what are some of the requirements to be able to be one.

Definition:
Blogger: One that shares his private life that happened through the day in an online journal.

Entrepreneur: One who assumes the financial risk of the initiation, operation, and management of a given business or undertaking.

Blogopreneur: One who takes time to blog about his personal life and the business that he/she is handling to make ends meet.

Taken from The young businessman blog http://theyoungbusinessman.blogspot.com/

Some Blogopreneur earn through Advs or by getting a good amount of hit rate in their website. One example is singapore famous Xiaxue who making thousands per month just by writing blog and herself. Is a new way of that entrepreneurs who make use blogging and the Internet as a medium to create an awareness of their brands and products

Internet Marketing

Internet marketing, also referred to as online marketing or Emarketing, is marketing that uses the Internet. The Internet has brought many unique benefits to marketing including low costs in distributing information and media to a global audience. The interactive nature of Internet media, both in terms of instant response, and in eliciting response at all, are both unique qualities of Internet marketing.

Internet marketing ties together creative and technical aspects of the internet, including design, development, advertising and sales. Internet marketing methods include search engine marketing, display advertising, e-mail marketing, affiliate marketing, interactive advertising and viral marketing.

Internet marketing is the process of growing and promoting an organization using online media. Internet marketing does not simply mean 'building a website' or 'promoting a website'. Somewhere behind that website is a real organization with real goals.

Internet marketing strategy includes all aspects of online advertising products, services, and websites, including search engine marketing, public relations, social media, market research, email marketing, and direct sales. The Internet marketer selects the best of these vehicles, given the organization's goals and audience.

Internet marketing is associated with several business models. The model is typically defined by the goal. These include e-commerce, where you sell goods directly to consumers or businesses; publishing, where you sell advertising; and lead-based sites, where an organization generates value by getting sales leads from their site. There are many other models (nearly infinite, actually) based on the specific needs of each person or business that launches an internet marketing campaign.

Life of a Youthepreneur part 9 : People

noreply@blogger.com (JOEho) — Sun, 30 Sep 2007 04:50:00 +0000

After setting my 5 yrs plan my mentor teach me many kind of people in the world which catalog in the following

3 Kind of people

Lazy people
Blame the heaven , Dont dare to face the reality
Dont believe in themselves

Lazy people

- They always say don't know. Human biggest problem is don't know when will they die because life cannot be restart

- They waste time and they began their slowly dead because they always say don't know.

Blame the heaven , don't dare to face the reality

-They always say their problem very hard to solve and end up blame the heaven. Is either they never tried hard enough to go and solve if not the simply never tried.

Dont believe in themselves

-They always believe they cannot do it without even trying hard enough. Example when people say you are handsome in a very serious way, end up you still sorry i not very handsome. Which end up you very low self confident.

4 Types of person in this world

A very well off person but still want to learn and desire to improve more in term of himself or in term of money.
Normal / difficult. Desire to get what he want in life , want a better life but background of that person maybe is stopping him
Easy going. No desire to change, happy go lucky. easily been contented in life.
Crazy. Want to do this and that but keep using the same method and never success.

A very well off person

A very well off person and yet still got the desire to change himself. Like to learn and very humble. A very self-improvement type. Lead a well off kind of life, even though already well off but still is never enough for him.

Normal/difficutly

Got the desire to change but due to some problem that is stopping him maybe is family background. Lead a very normal life but always want to better stuffs in life and never say enough.

Easy going

Happy go lucky type of person. Never face the reality, easily been contented...always say enough for himself. But in reality he or she is in great deep trouble. Like to avoid into serious topic.

Crazy

Crazy people define as want to this and yet keep using the same method and never success.

3 kind of class of people

Lower class : very normal person who always take their money to pay

taxes
food
rent
clothes
Fun
Transport

never bought anything expensive before. Like to save alot , they always think that money need to be in their pocket is the most safe place in the world

Middle Class : Got credit card , car , condo , career , cash. Lots of expenses and money keep going out instead of in. Like to spend and enjoy.

Upper Class : wealthy person because got mutiple stream of incomes. Know the power of cashflow and the important of Assets. Like to acquire alot of assets example stocks, bonds , reasl estate. These people have more money coming in instead of money going out. They believe every single dollars is a asset.

Upper Class buy Assets Lower Class only have expenses Middle Class buy liabilities which they think are assets.

Life of a Youthepreneur part 8 : 5 Years Plan

noreply@blogger.com (JOEho) — Sat, 29 Sep 2007 17:31:00 +0000

After knowing the secret behind almost all the successful person is that they always have a very strong reason of why u need to be successful in this lifetime. with that i plan out my next 5 years targets

Change myself as in cut down my enterinment
Be honest to yourself
Commit myself
Continual commitment
Effort
Understand what you really want in life
Read more self improvement books
Cut down my spending
Every $ is an Asset
Always believe till the end even though is a dream.

With all these i set myself for the 1st stage of the 5yrs plan. Every book out from camp the next book in i always buy 5 computer magazines to improve my IT knoweledge. Due to i study in ITE never go in into the course of Information technology so is really my desire to get at least a diploma. With 5 magazines every month within one year my IT skill greatly improved over one year without going thru school.

I also read self improvement book alot during the year. During the short one year in camp many people though i am crazy. Spending so much on magazines and coming up with silly dreams and goals for what while you still in camp.

No matter right or wrong you still get Criticism

Life of a Youthepreneur part 7 : Reasons why you need to be successful

noreply@blogger.com (JOEho) — Sat, 29 Sep 2007 16:21:00 +0000

Learning to become an Entrepreneur was not enough , my mentor was asking me some question. Today if you earn alot but for what ? meaning why you need so much $$$ for ? for yourself? parents? family ? friends ? or for your loves one? Many people knew they need to become successful in their lifetime or even earn alot of money..but many do not know for what ???

The Secret of success is constancy to purpose

" What you can conceive and believe , you will achieve "

That night i was thinking for what ? Dreams and goals was never enough if you do not have the great purpose behind all this goals and dream ? for this whole lifetime what i really want ? for $$$ only...? many people always have this concept of money

Myth: Having a lot of money will change you (into a bad person). Fact: Money is a personality magnifier. It brings out the true person within you. If you are a selfish and nasty person by nature, having money will make you even more nasty and selfish. However, if you are a kind, generous and loving person deep down inside, money will magnify your goodness.

Myth: Money isn't everything. Fact: This is the top excuse given by poor people who are in denial. The truth is that everything is money. Without money, you cannot maximize other important values such as family, career, health, spirituality and relationships.

Myth: Money will make you less spiritual Fact: If you are by nature a spiritual person, having money will allow you to touch more lives and help you do more of god's work. In fact, the wealthiest people in the world are extremely spiritual. Not having to worry about money anymore allows many of the rich to focus on the more important things in life. Many truly wealthy people believe they don't own their money. They are just custodians of God's wealth.

Myth: Rich people are materialistic. They worship money. Fact: It is the people who lack money who worship it. Who works all day, year after year in a job which they hate, just for the money? Who are those who constantly sacrifice their health and family to make more money? In fact, the rich rarely work because of money. They work because of passion and a sense of personal mission. Bill Gates, Warren Buffett, George Lucas, Michael Jordan & Steve Jobs certainly don't work for money...they don't need to.

Myth: To have more money, I will be depriving others of it. Fact: When you become rich, you actually create more wealth for other people. Wealth multiplies into more wealth. Bill Gates is the richest man in the world because he has created the most value in people's lives through the creation of Microsoft and Windows. Because of his invention, so many more millionaires have been created as a result. Think about it, if Microsoft Windows, Word and Excel did not exist, would you have been able to create as much wealth as you have today? Myth: Money is the 'root of all evil'. Fact: The lack of money is the root of all evil. The number one cause of murder, cheating, stealing, lying is poverty (the lack of money)

That night i finally believe in this concept define happiness?

to have happiness number one rule is always $$$
to have a good health
repay the country ( Example donate more and pay more tax )
achieve what you want is this lifetime
relationship love
family

That was my thinking 2years ago after my mentor go through with me what my this lifetime before we really came out from army. Beliving in that concept... before ord... and i start to plan my short terms dream within 5years. Because happiness is really what i want and becoming a Entrepreneur was just only title or rank. People around me also lived once ! i should learn to treasure more.

After that i began my 5years plan, will i successed ? i still believe my concept of happiness till now !

Life of a youthepreneur part 6 : The True meaning of Entrepreneur

noreply@blogger.com (JOEho) — Fri, 28 Sep 2007 17:27:00 +0000

Becoming an Entrepreneur

Thinking about starting your own company? Do you have what it takes? Is it worth all the pain and suffering?

There is no way to eliminate all the risks associated with starting a small business. However, you can improve your chances of success with good planning and preparation. A good starting place is to evaluate your strengths and weaknesses. Carefully consider each of the following questions.

Are you a selfstarter? It will be up to you - not someone else telling you to develop projects, organize your time and follow through on details.

How well do you get along with different personalities? Business owners need to develop working relationships with a variety of people including customers, vendors, staff, bankers and professionals such as lawyers, accountants or consultants. Can you deal with a demanding client, an unreliable vendor or cranky staff person in the best interest of your business?

How good are you at making decisions? Small business owners are required to make decisions constantly, often quickly, under pressure, and independently.

Do you have the physical and emotional stamina to run a business? Business ownership can be challenging, fun and exciting. But it's also a lot of work. Can you face 12hour work days six or seven days a week?

How well do you plan and organize? Research indicates that many business failures could have been avoided through better planning. Good organization of financials, inventory, schedules, production can help avoid many pitfalls.

Is your drive strong enough to maintain your motivation? Running a business can wear you down. Some business owners feel burned out by having to carry all the responsibility on their shoulders. Strong motivation can make the business succeed and will help you survive slowdowns as well as periods of burnout.

How will the business affect your family? The first few years of business startup can be hard on family life. The strain of an unsupportive spouse may be hard to balance against the demands of starting a business. There also may be financial difficulties until the business becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk.

It's true, there are a lot of reasons not to start your own business. But for the right person, the advantages of business ownership far outweigh the risks.

* You get to be your own boss.
* Hard work and long hours directly benefit you, rather than increasing profits for someone.
* Earning and growth potential are far less limited.
* A new venture is exciting.
* Running a business will provide endless variety, challenge and opportunities to learn.

Life of a Youthepreneur part 5 : Big head & Fail again

noreply@blogger.com (JOEho) — Fri, 28 Sep 2007 14:34:00 +0000

I thought by reading this 2 books i was enough. I thought i knew what is business, i tried to set up a auction over in the internet and becoming a part time computer man. I thought setting up computer was my business. Meaning helping people diy their computer, but as time goes by. My customer base grew bigger as i am a one man show. I received lots of calls and saying their computer problem. Suddenly i fed up with this business, most of the computer problems are human problems not the com. So i gave up this business which i did not create a good system, i was thinking what is a system all about. How to make them automated? etc.

I was still in the army during that time. It was like using my time in exchange for money.. which is not the thing i want... i wanted using less time in exchange for more money. My auction was not doing well too, because of the time i am limited. But i realize something.. the power of internet that turn a business automated ! The Leverage of internet, i soon doing alot of research about internet!

Life of a Youthepreneur part 4 : Cashflow

noreply@blogger.com (JOEho) — Fri, 28 Sep 2007 13:47:00 +0000

After i knowing what is my reason to be successful in this lifetime, the second book i read my rich dad and poor dad cashflow . A great book showing people how the money is run in the world.

E- employee often will respond to the fear of not having enough $ by seeking security Their bosses control their pay and working hours. Their pay was taxed. Downsizing. Retrenchment. Pay Cut. These subjected them to great vulnerabilities

S- Self -employed responds to the fear by taking control of the situation and by doing things on their own. They are hesitant to hire and train other people because once trained they often end up as their competition. This, in turn keeps them working harder and doing things on their own. Once they stop work, they stop earning. If their business slow down, they have to work harder to get it going. If their business progress quickly, they also have to work even harder to deal with greater customer demands. Successful S pple are often rich with no time

B- Business owner like to be surrounded by smart people from all 4 categories. They like to delegate as their attitude is “ why do yourself when you can hire someone to do it for you, and they can do it better? They own a system not a job. If they stop working the money still come in. Successsful B has a system and the the ability to lead people. You can make a better burger than macdonald but you cant sell as well as them because you don’t their successful system to serve billions of burgers worldwide! Remember that B don’t need $ to make $. They use their system and people to make passive $

I- investors make $ work for them to earn more$.

E works in a system

S is the system

B owns, create the system

I invests in a system

Your BOSS can’t make u rich

Though your boss make sure u get ur paycheck. It is ur job to become rich-meaning u have the time & $ to spend with ur kids, ur loved ones and with yourself..FREEDOM! Job begins the moment you receive your paycheck. If you have poor $ management, all the $ in the world can’t save u.

If you wanna be B/I, beware of the way you are earning ur $. $ is an addiction! If you are addicted to $, it’s hard to break the addiction. Once you get used to receiving $, that addiction keeps you attached to the way you got it. In other words, if u are earning as an E/S, it is often difficult to break the attachment to earning $ in that way. This is the hardest part abt moving fr E/S to B/I.- breaking a habit or rather an addiction!

The only difference btw the rich and the poor is what they do in their spare time.

If you work hard on the left quadrant-E-S, you will work hard forever. If you work hard on the right side –B-I, you will have a chance finding freedom!

If you r finding freedom, be aware of what you think, do and behave

Life of a Youthepreneur part 3 : A Lesson learn

noreply@blogger.com (JOEho) — Fri, 28 Sep 2007 13:24:00 +0000

Reading that book i suddenly know alot. Like how to run a business and why people need to be rich or successful. At that moment of time i was desperate for result in life, i wanted to show the person i liked that actually i am something. I told my mentor my dream and goals for the next 5yrs, and finally i learn something for him that why people want to be rich and successful
Do people know why they want to be successful?
How many people understand themselves ? how many people know why they want to earn so much money for ? And do people know why they want to be successful in their lifetime?

Yup..how many people can be successful in this lifetime? In singapore many youngsters always said they want to be successful but do they know why they need to be successful? izzit for their family,gf/wife/frens to see or simply want to earn alot of money to buy their stuffs? Most people around 20-30 years old will always said they dislike their job and they are unhappy with their current life. When it come to life, many people like to play it safe..safe as in staying in the comfort zone. If they see a chance to make it big they will find alot of reasons to support themselves why cant they be successful in this lifetime or simply they dont dare.

Many people always unhappy with their life but when it come to change urself they simply dont care. I mean if today u are unhappy with ur current life why not sit down and reflect urself ? and start to change yourself 1st after that understand what you really want in life.

Do you want the following ?

1. House

2. Car

3. Wife/Husband

4. Lots of holidays

5. $$$$

6. Parents with good life

7. Children with good life

Yup most people want the following, but do they have the desire and a strong reason why they want it ? meaning do u have a strong reason why today you want to earn so much money for ? FOR WHO TO SEE ? WHY? AND FOR WHAT? Many people when it come to change themselves they will also find alot excuses to change themselves... or even after some failure of getting the following they stop trying because they FEAR. If today you wanted something badly you have to put in the amount of equal of effort to get it.

Meaning.... Wanted something = putting equal effort to get it

same goes to relationship, if you want a good and healthy relationship you too have to commit urself 1st........

And i set my goals and dreams at that time...

Life of a Youthepreneur part 2 : Rich dad & Poor Dad lesson

noreply@blogger.com (JOEho) — Fri, 28 Sep 2007 12:47:00 +0000

After reading that book i only got one belief....

Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!

by Robert T. Kiyosaki, Sharon L. Lechter

Paperback – Warner Business Books
207 pages – Apr 1, 2000

Getting a good education and getting good grades no longer ensure you success

Most of us are trap in the rat race, below show a path of average educated hardworking person

Child was born--> Child goes to sch--> Proud parents excited coz child excel in study-->Child gradutes-->child found a job exp:lawyer,doctor,or sign on army--> During working life credit cards start to arrive in mass shopping begins--> Having $ child goes to places where other people just like them hang out.They meet people date and married--> Life is wonderful both men and woman work--> Two income are bliss,both feel successful future is bright-->Both future bright decided to buy a house , car, vocation and have children--> The happy couple decide that careers are vitally important and begin to work harder , seeking promotions and raises.

Raises come and so does another child and the need for a bigger house-->Start to work harder,become better employee,even more dedicated-->Couple go back school to get more specialized skills so they can earn more money,maybe some side lines?--> Incomes go up but so so does the tax bracket-->large paychecks and ownder where all the money went--> Buy some mutual funds and buy groceries with their credit card-->Children reach 5 or 6 years old--> Need to save for college but where is retirement fund?

Happy couple born 35years ago are now trapped in rat race.They spending the rest of their life working and working.

They work for owners of their company
They work for government by paying taxes
They work for the bank by paying off mortgage and credit cards

Most people facing these and they refuse to know the fact. Even they knew about it, they still refuse to change due to environment they had at that time. They never ask themselves why and how come their life have been programmed before they were born.Their parents told them these advices GO to School--> GET Good Grades and look for a safe secure job !

World have changed, but education has not change.Children spend years in an antiquted educational system, studying subjects they will never use. Preparing a world that no longer exist.Money is not taught in schools, school only focus on scholastic and professional skills, but not on financial skills.This explains how smart bankers, doctors and accountants who earned excellent grades in school may still struggle financially all their lives.

Most of the time, life does not talk to you. It just sorf of pushes you around. Each push is life saying : Wake up, there something i want you to learn.Some just let life push them around, others get angry and push back. But they push back against their boss, or their job , or their husband or wife.They do not know is life pushing.

Life pushes all of us around, some give up , others fight back! A few learn lesson and move on. They welcome life pushing around. To these few people , it means they need and want to learn something.

Example

A kind of person who was no guts , just give up everytime when there are life pushes. IF you are that kind of person, you will live ur life playing it safe, doing the right things , saving yourself for some event that never happens. The you die a boring old man. You will have lots of friends who really like you coz u are such a nice hardworking guy.You spent a life playing safe , doing the right things. But the truth is you let life push you into submission. Deep down you were terrified of taking risks. You really wanted to win, but the fear of losing was greater than excitment of winning. Deep inside you and only you will know you didnt go for it.You choose to play it safe.

Most people will do the following

They quit and go looking for another job, better opportunity, and higher pay , actually thinking that a new job or more pay will solve the problem.In most cases it wont ! That what the other people do, just accept a paycheck knowing that they and their family will struggle finanically but that is all they do, waiting for a raise thinking that more money will solve the problem.

When it comes to money , most people want to play it safe and feel secure.So passion does not direct them but Fear does.Simply because it's easier to learn to work for money, especially if fear is your primary emotion when the subject of money is discussed. Dont worry about that for now. Just know that it's fear that keeps most people working at a job.The fear of not paying their bills.The fear of being fired! The fear of not having enough money.The fear of starting over again.That's the price of studying to learn profession or trade and then working for money.Most people become a slave to money and get angry at their boss.

The pattern of get up--> go to work--> pay bills-->Their lives are then run forever by 2 emotions fear and greed.Offer them more money, they continue the cycle by also increasing their spending !

A job is only a short term solution to a long term problem.....

Life of a youthepreneur part 1 : How i came about Entrepreneurship

noreply@blogger.com (JOEho) — Mon, 24 Sep 2007 03:22:00 +0000

Hi Guys this is my very 1st post...so i not very sure how to write my very 1st post on this blog. Alright i shall start from the beginning of my life. From young i always like entrepreneurship..my very 1st attempt on entrepreneurship was on a online game call jyonline. A group of members like Suyi,keai,jasper and hiroko created a system to make powerful items to sell to online people from the game. Thanks to the system created by Suyi and hiroko we were able to make a pile of $$ from the game. But the game didnt last long...soon we quitted and the server closed down. From the game i learn about actually you can sell anything whether is virtual or physical stuffs online. Is a matter how you going to do it. I also learn about E-banking and terms people use online. From all these i move on the my second attempt on entrepreneurship !

Second attempt was selling Data Cd and Anime movies etc. But it did not last long due to illegal issue...but from the selling of data cd i learn about if u can create a system or autopliot u can actually offload alot work from u. Just like learning how to create a system in a business world =)

My 3rd attempt was joining a network marketing company call Nu skin selling health product. Due to low capital of me i could not last long enough to make some money. But from there i began my journey as a networker...learn alot from network marketing company.... but still i did not success!

My 4th attempt was joining hand with someone hoping to do a T-shirt business.Due to personal problem the T-shirt did not last long too....in fact i making a lost during that time.

All these did not stop me from entrepreneurship...i began to learn more from successful person.Also start to read more and understand how to create a business system that able to run by itself. That was the day when i was in Army...trying to understand more,hoping after ord i can begin my plan on entrepreneurship!!!

Lucky was on my side? i met my mentor at the army...and he intro me one book which change my whole ideas of business world... that book was calll Rich Dad Poor Dad...from that moment my life start to change.