Monday, April 07, 2008

Top 10 Ways You Know You’re An Entrepreneur

Are you an entrepreneur?

You might be. Inside you there just might be an entrepreneur waiting to tear out.

Here are the top 10 ways to know if you’re an entrepreneur. (And for those of you that are already entrepreneurs, you can nod your head as we go along…Or disagree with me! Or add your own points!)

1. You’re passionate. Passion counts for a whole lot when it comes to being an entrepreneur. Without it, you’re dead before you even start.

2. You’re always looking for opportunities. Entrepreneurs are opportunity-seekers. Everything is an opportunity. Failures are even an opportunity.

3. You always think to yourself, “I can do that better.” You might know nothing about the retail business, but every time you walk into a big box store you have a thousand ideas on how to make it a better experience. Combined with your eye for opportunity, you can’t help but believe there’s a better way of doing things.

4. You want to live your work. Work isn’t a means to an end. It isn’t a way of collecting a paycheck and going home. You’re dreaming of something more than that, where you can live and breathe work. Not because you want to work more, you want to work smarter. You want your work to mean something. You want to experience something more than shuffling to the office at 8am, leaving at 5pm and forgetting what happened for that day.

5. You’re dreaming miles ahead while focused on what you’re doing right now. You’re a dreamer, but not a daydreamer. You’re dreaming a plan ahead while working constantly at achieving success on the details today. You’re a big-thinker but you don’t lack the ability to focus on details. Accomplish the little tasks is moving the ball forward for you…towards the big dream.

6. You’re an ego-maniac. You look at your boss and shrug. You know things could be better, and you believe strongly in your own abilities. You’ve got a big, healthy ego. It’s not unwarranted, but it’s not proven just yet either. Still, ego is important - because it’ll help you take risks, power forward and succeed.

7. You’re prepared to say, “I don’t know, but I’ll figure it out.” Your ego doesn’t preclude you from admitting that you don’t know something. Too many people fake their way through life, or duck their head when they don’t know the answer. Your response is to jump into it, learn what you can, move quickly and get some damn answers.

8. You’re a strategist. You’re not just thinking about tomorrow. You’re thinking much further ahead than that. This is a trait you share with a lot of people - career ladder-climbers and “cover your ass” employees. The difference is that you’re also a dreamer, and strategy + dreaming is very powerful indeed.

9. You’re a builder. You like to create things. You don’t care about recognition, praise from your boss, awards and money as much as you care about building something remarkable, and having others enjoy it and benefit from it.

10. You want control. You watch the world spin, shake and bumble around you and want to harness that more. You watch your boss and co-workers shuffle around each and every day and you want to rattle some chains. You want control. Seth Godin calls them torchbearers. You want to bear the torch.

So, are you an entrepreneur?

source:
http://startupspark.com/top-10-ways-you-know-youre-an-entrepreneur/

90/10 Principle

Discover the 90/10 Principle.

It will change your life (at least the way you react to situations).

What is this principle? 10% of life is made up of what happens to you. 90% of life is decided by how you react.

What does this mean? We really have no control over 10% of what happens to us. We cannot stop the car from breaking down. The plane will be late arriving, which throws our whole schedule off. A driver may cut us off in traffic.

We have no control over this 10%. The other 90% is different. You determine the other 90%.

How? ……….By your reaction.

You cannot control a red light. But you can control your reaction. Don't let people fool you; YOU can control how you react.

Let's use an example.

You are eating breakfast with your family. Your daughter knocks over a cup of coffee onto your business shirt. You have no control over what just happened.

What happens next will be determined by how you react.

You curse.

You harshly scold your daughter for knocking the cup over. She breaks down in tears. After scolding her, you turn to your spouse and criticize her for placing the cup too close to the edge of the table. A short verbal battle follows. You storm upstairs and change your shirt. Back downstairs, you find your daughter has been too busy crying to finish breakfast and get ready for school. She misses the bus.

Your spouse must leave immediately for work. You rush to the car and drive your daughter to school. Because you are late, you drive 40 miles an hour in a 30 mph speed limit.

After a 15-minute delay and throwing $60 traffic fine away, you arrive at school. Your daughter runs into the building without saying goodbye. After arriving at the office 20 minutes late, you find you forgot your briefcase. Your day has started terrible. As it continues, it seems to get worse and worse. You look forward to coming home.

When you arrive home, you find small wedge in your relationship with your spouse and daughter.

Why? …. Because of how you reacted in the morning.

Why did you have a bad day?
A) Did the coffee cause it?
B) Did your daughter cause it?
C) Did the policeman cause it?
D) Did you cause it?
The answer is “D".
You had no control over what happened with the coffee. How you reacted in those 5
seconds is what caused your bad day.

Here is what could have and should have happened.

Coffee splashes over you. Your daughter is about to cry. You gently say, "Its ok honey, you just need to be more careful next time". Grabbing a towel you rush upstairs. After grabbing a new shirt and your briefcase, you come back down in time to look through the window and see your child getting on the bus. She turns and waves. You arrive 5 minutes early and cheerfully greet the staff. Your boss comments on how good the day you are having.

Notice the difference?

Two different scenarios. Both started the same. Both ended different.

Why?

Because of how you REACTED.

You really do not have any control over 10% of what happens. The other 90% was determined by your reaction.

Here are some ways to apply the 90/10 principle. If someone says something negative about you, don't be a sponge. Let the attack roll off like water on glass. You don't have to let the negative comment affect you!

React properly and it will not ruin your day. A wrong reaction could result in losing a friend, being fired, getting stressed out etc.

How do you react if someone cuts you off in traffic? Do you lose your temper? Pound on the steering wheel? A friend of mine had the steering wheel fall off) Do you curse? Does your blood pressure skyrocket? Do you try and bump them?

WHO CARES if you arrive ten seconds later at work? Why let the cars ruin your drive?

Remember the 90/10 principle, and do not worry about it.

You are told you lost your job.

Why lose sleep and get irritated? It will work out. Use your worrying energy and time into finding another job.

The plane is late; it is going to mangle your schedule for the day. Why take outpour frustration on the flight attendant? She has no control over what is going on.

Use your time to study, get to know the other passenger. Why get stressed out? It will just make things worse.
Now you know the 90-10 principle. Apply it and you will be amazed at the results. You will lose nothing if you try it. The 90-10 principle is incredible. Very few know and apply this principle.

The result?

Millions of people are suffering from undeserved stress, trials, problems and heartache. We all must understand and apply the 90/10 principle.

It CAN change your life!!! Enjoy….

***
I got this from this forum: http://www.sulit.com.ph/forum/viewtopic.php?p=157957#157957

the member just failed to mention her source

Secrets of Self-Made Millionaires

They’re just like you. But with lots of money.
By Kristyn Kusek Lewis

Success Stories
When you think “millionaire,” what image comes to mind? For many of us, it’s a flashy Wall Street banker type who flies a private jet, collects cars and lives the kind of decadent lifestyle that would make Donald Trump proud.

But many modern millionaires live in middle-class neighborhoods, work full-time and shop in discount stores like the rest of us. What motivates them isn’t material possessions but the choices that money can bring: “For the rich, it’s not about getting more stuff. It’s about having the freedom to make almost any decision you want,” says T. Harv Eker, author of Secrets of the Millionaire Mind. Wealth means you can send your child to any school or quit a job you don’t like.
According to the Spectrem Wealth Study, an annual survey of America’s wealthy, there are more people living the good life than ever before—the number of millionaires nearly doubled in the last decade. And the rich are getting richer. To make it onto the Forbes 400 list of the richest Americans, a mere billionaire no longer makes the cut. This year you needed a net worth of at least $1.3 billion.

If more people are getting richer than ever, why shouldn’t you be one of them? Here, five people who have at least a million dollars in liquid assets share the secrets that helped them get there.

1. Set your sights on where you’re going
Twenty years ago, Jeff Harris hardly seemed on the road to wealth. He was a college dropout who struggled to support his wife, DeAnn, and three kids, working as a grocery store clerk and at a junkyard where he melted scrap metal alongside convicts. “At times we were so broke that we washed our clothes in the bathtub because we couldn’t afford the Laundromat.” Now he’s a 49-year-old investment advisor and multimillionaire in York, South Carolina.

There was one big reason Jeff pulled ahead of the pack: He always knew he’d be rich. The reality is that 80 percent of Americans worth at least $5 million grew up in middle-class or lesser households, just like Jeff.

Wanting to be wealthy is a crucial first step. Says Eker, “The biggest obstacle to wealth is fear. People are afraid to think big, but if you think small, you’ll only achieve small things.”

It all started for Jeff when he met a stockbroker at a Christmas party. “Talking to him, it felt like discovering fire,” he says. “I started reading books about investing during my breaks at the grocery store, and I began putting $25 a month in a mutual fund.” Next he taught a class at a local community college on investing. His students became his first clients, which led to his investment practice. “There were lots of struggles,” says Jeff, “but what got me through it was believing with all my heart that I would succeed.”

2. Educate yourself
When Steve Maxwell graduated from college, he had an engineering degree and a high-tech job—but he couldn’t balance his checkbook. “I took one finance class in college but dropped it to go on a ski trip,” says the 45-year-old father of three, who lives in Windsor, Colorado. “I actually had to go to my bank and ask them to teach me how to read my statement.”

One of the biggest obstacles to making money is not understanding it: Thousands of us avoid investing because we just don’t get it. But to make money, you must be financially literate. “It bothered me that I didn’t understand this stuff,” says Steve, “so I read books and magazines about money management and investing, and I asked every financial whiz I knew to explain things to me.”

He and his wife started applying the lessons: They made a point to live below their means. They never bought on impulse, always negotiated better deals (on their cars, cable bills, furniture) and stayed in their home long after they could afford a more expensive one. They also put 20 percent of their annual salary into investments.

Within ten years, they were millionaires, and people were coming to Steve for advice. “Someone would say, ‘I need to refinance my house—what should I do?’ A lot of times, I wouldn’t know the answer, but I’d go find it and learn something in the process,” he says.

In 2003, Steve quit his job to become part owner of a company that holds personal finance seminars for employees of corporations like Wal-Mart. He also started going to real estate investment seminars, and it’s paid off: He now owns $30 million worth of investment properties, including apartment complexes, a shopping mall and a quarry.

“I was an engineer who never thought this life was possible, but all it truly takes is a little self-education,” says Steve. “You can do anything once you understand the basics.”

3. Passion pays off
In 1995, Jill Blashack Strahan and her husband were barely making ends meet. Like so many of us, Jill was eager to discover her purpose, so she splurged on a session with a life coach. “When I told her my goal was to make $30,000 a year, she said I was setting the bar too low. I needed to focus on my passion, not on the paycheck.”

Jill, who lives with her son in Alexandria, Minnesota, owned a gift basket company and earned just $15,000 a year. She noticed when she let potential buyers taste the food items, the baskets sold like crazy. Jill thought, Why not sell the food directly to customers in a fun setting?
With $6,000 in savings, a bank loan and a friend’s investment, Jill started packaging gourmet foods in a backyard shed and selling them at taste-testing parties. It wasn’t easy. “I remember sitting outside one day, thinking we were three months behind on our house payment, I had two employees I couldn’t pay, and I ought to get a real job. But then I thought, No, this is your dream. Recommit and get to work.”

She stuck with it, even after her husband died three years later. “I live by the law of abundance, meaning that even when there are challenges in life, I look for the win-win,” she says.

The positive attitude worked: Jill’s backyard company, Tastefully Simple, is now a direct-sales business, with $120 million in sales last year. And Jill was named one of the top 25 female business owners in North America by Fast Company magazine.

According to research by Thomas J. Stanley, author of The Millionaire Mind, over 80 percent of millionaires say they never would have been successful if their vocation wasn’t something they cared about.

4. Grow your money
Most of us know the never-ending cycle of living paycheck to paycheck. “The fastest way to get out of that pattern is to make extra money for the specific purpose of reinvesting in yourself,” says Loral Langemeier, author of The Millionaire Maker. In other words, earmark some money for the sole purpose of investing it in a place where it will grow dramatically—like a business or real estate.

There are endless ways to make extra money for investing—you just have to be willing to do the work. “Everyone has a marketable skill,” says Langemeier. “When I started out, I had a tutoring business, seeing clients in the morning before work and on my lunch break.”

A little moonlighting cash really can grow into a million. Twenty-five years ago, Rick Sikorski dreamed of owning a personal training business. “I rented a tiny studio where I charged $15 an hour,” he says. When money started trickling in, he squirreled it away instead of spending it, putting it all back into the business. Rick’s 400-square-foot studio is now Fitness Together, a franchise based in Highlands Ranch, Colorado, with more than 360 locations worldwide. And he’s worth over $40 million.

When extra money rolls in, it’s easy to think, Now I can buy that new TV. But if you want to get rich, you need to pay yourself first, by putting money where it will work hard for you—whether that’s in your retirement fund, a side business or investments like real estate.

5. No guts, no glory
Last summer, Dave Lindahl footed the bill for 18 relatives at a fancy mansion in the Adirondacks. One night, his dad looked out at the scenery and joked, “I can’t believe we used to call you the black sheep!”

At 29, Dave was broke, living in a small apartment near Boston and wondering what to do after ten years in a local rock band. “I looked around and thought, If I don’t do something, I’ll be stuck here forever.”

He started a landscape company, buying his equipment on credit. When business literally froze over that winter, a banker friend asked if he’d like to renovate a foreclosed home. “I’m a terrible carpenter, but I needed the money, so I went to some free seminars at Home Depot and figured it out as I went,” he says.

After a few more renovations, it occurred to him: Why not buy the homes and sell them for profit? He took a risk and bought his first property. Using the proceeds, he bought another, and another. Twelve years later, he owns apartment buildings, worth $143 million, in eight states.

The Biggest Secret? Stop spending.
Every millionaire we spoke to has one thing in common: Not a single one spends needlessly. Real estate investor Dave Lindahl drives a Ford Explorer and says his middle-class neighbors would be shocked to learn how much he’s worth. Fitness mogul Rick Sikorski can’t fathom why anyone would buy bottled water. Steve Maxwell, the finance teacher, looked at a $1.5 million home but decided to buy one for half the price because “a house with double the cost wouldn’t give me double the enjoyment.”

It’s not a fluke: According to the 2007 Annual Survey of Affluence & Wealth in America, some of the richest people “spend their money with a middle-class mind-set.” They clip coupons, wait for sales and buy luxury items at a discount.

No kidding! Talk show host Tyra Banks calls herself the Queen of Cheap and keeps perfume samples from magazine ads in her purse for quick touch-ups.

Sara Blakely, founder of the $100 million shapewear company Spanx, gets her hair trimmed at Supercuts.

And Warren Buffett, the third richest person in the world, according to Forbes, lives in the same Omaha, Nebraska, home he bought four decades ago for $31,500.


source:
http://www.rd.com/content/secrets-of-successful-entrepreneurs/

10 Hard Ways to Make Your Life Better

1. Start a business

My dad, who has been self-employed almost all his life, used to tell me that “Only jerks work for jerks.” Working for someone else puts you at their mercy and subjects you to their whims — and often their poor management skills. Not only that, but the profit of your labor goes into their pockets.

Starting a business puts you in control of your work life, and your money. It’s hard — small businesses fail every day. But the rewards of even a failed venture can far outweigh the risk. Just knowing that your failure was the result of your own choices — instead of a decision made at a corporate office a thousand miles away — can be liberating.


2. Organize a group

What makes you passionate? Chances are, being around other people who are passionate about the same thing would make you even more passionate about it. Often the only thing keeping you and them from coming together is that nobody’s put out a sign saying “Come and talk!” Getting a group going is a tremendous challenge, and very often the personality of the founder leaves a tremendous mark on the group as a whole. Seeing a group grow and take off can be tremendously awarding — but even failing can teach you important things about leadership.


3. Volunteer

I don’t mean spend Thanksgiving at a soup kitchen, though that can often be challenging enough. What I mean, though, is to make a long-term investment in your community by joining school committees, donating three hours a week in a shelter, hosting a monthly read-along at the library, tutoring at-risk children after school, teaching adult literacy classes at a local prison, or any of a million ways to play a role in the lives of people who need you. Perhaps the most pressing need in our society is for people to take an interest in and engage with their communities.


4. Take an active role in your children’s’ activities

Pick one thing your child does and commit yourself to it. Coach their team, become a Brownie leader, spend a weekend day in the workshop with them, buy a bike and ride along with them — make their passions your own. Don’t crowd them — especially if you have teenagers — but show them that you value something they do by giving them your time and interest.


5. Start a family

I don’t mean have kids. That can be all too easy! Make the decision to have a family, which means to give of yourself fully to another person or several people. Risk being vulnerable by sharing your fears, quirks, and failures with someone else; you might find it makes you stronger than ever before.

This transcends marriage and parenthood. There are lots of people who can’t marry because the law prevents it. There are people who can’t have children. These are not the essential ingredients of family. The essential ingredients are love, mutual respect, trust, and open giving. Find (or make) someone you can share that with.


6. Write a book

It feels really, really good to see your name on a book cover, but it feels even better to know that someone, somewhere, might find his or her life changed by something you’ve written. Share your particular expertise, whether it’s story-telling or woodworking, with the world — or just your family. Time isn’t the big issue (though it is an issue — don’t let the positive thinkists tell you otherwise!) but if you commit yourself to a page a day — a couple hundred words — within a year you’ll have a pretty decent-sized manuscript. That’s something to work with!


7. Learn an art

Take painting lessons, a pottery workshop, a music class, whatever — learn to express yourself and you might find a self worth expressing. Don’t settle for being a “Sunday painter” — devote yourself to an art and master it.


8. Run for office

The world needs smart, dedicated, and upright people to take care of all the fiddly details of making things run. As it happens, running for local office isn’t as challenging as you’d think (which isn’t to say it’s easy) — Michael Moore, the filmmaker, ran for school board while he was still in high school. Just for kicks. And won! It’s fine to have your heart set on the White House or Capital Hill, but try your hand at city councilperson, county registrar, or something closer to home first. And be clean — run for the experience of putting your community on a better path, and not for the power.


9. Take up a sport

Enough with the working out already! Sure, you want to be healthy, but the whole treadmill-running, iPod-listening, 45-minutes-after-work thing is a little anti-social, don’t you think? OK, you want some solitude once in a while — fine. But at least add a sport, something you do with other people. You’ll be spending time interacting with others, while also developing team-building and leadership skills. And, you might learn something from your fellow players.


10. Set an outrageous goal — and achieve it!

The nine tips above are only a handful of ideas about how to make your life better. Maybe you want to record an album, climb a mountain, make the Hajj (the pilgrimage to Mecca), see 20 countries — don’t just settle for tiny goals, push yourself all the way to the edge and figure out how to make the craziest thing you can think of happen. Yes, you’ll have to learn a lot along the way, and plan months or even years in advance — that’s what makes outlandish goals worthwhile.

I don’t want to suggest that you need to do all these things to be happy — doing just one is quite a handful! But if you’re unhappy with your life, if you want to make a change for the better, you need to think big and you need to be ready to put in the work to make it happen. It’s easy to “visualize success” and to “think positively”; it’s not so easy to throw yourself into the unknown and make it work. But if you can make it work, you’ll gain far more than you can imagine.


Source: http://www.lifehack.org/articles/lifestyle/10-hard-ways-to-make-your-life-better.html

Saturday, April 05, 2008

JOHN GOKONGWEI: THE FIRST UKAY-UKAY DEALER!

JOHN GOKONGWEI: THE FIRST UKAY-UKAY DEALER!


Speech of John Gokongwei before Ateneo Graduates.

I wish I were one of you today, instead of a 77-year-old man, giving a speech you will probably forget when you wake up from your hangover tomorrow. You may be surprised I feel this way. Many of you are feeling fearful and apprehensive about your future. You are thinking that, perhaps, your Ateneo diploma will not mean a whole lot in the future in a country with too many problems. And you are probably right. You are thinking that our country is slipping-no, sliding. Again, you may be right. Twenty years ago, we were at par with countries like Thailand , Malaysia , and Singapore .

Today, we are left way behind. You know the facts. Twenty years ago, the per capita income of the Filipino was 1,000 US dollars. Today, it's 1,100 dollars. That's a growth of only ten percent in twenty years. Meanwhile, Thailand 's per capita income today is double ours; Malaysia , triple ours; and Singapore , almost twenty times ours. With globalization coming, you know it is even more urgent to wake up. Trade barriers are falling, which means we will have to compete harder. In the new world, entrepreneurs will be forced to invest their money where it is most efficient. And that is not necessarily in the Philippines . Even for Filipino entrepreneurs, that can be the case.

For example, a Filipino brand like Maxx candy can be manufactured in Bangkok-where labor, taxes, power and financing are cheaper and more efficien t-and then exported to other ASEAN countries. This will be a common scenario-if things do not change. Pretty soon, we will become a nation that buys everything and produces practically nothing. We will be like the prodigal son who took his father's money and spent it all. The difference is that we do not have a generous father to run back to. But despite this, I am still very excited about the future. I will tell you why later. You have been taught at the Ateneo to be "a person for others." Of course, that is noble: To serve your countrymen. Question is: How? And my answer is: Be an entrepreneur! You may think I am just a foolish man talking mundane stuff when the question before him is almost philosophical. But I am being very thoughtful here, and if I may presume this about myself, being patriotic as well.

Entrepreneurship is the answer. We need young people who will find the idea, grab the opportunity, take risk, and set aside comfort to set up businesses that will provide jobs. But why? What are jobs? Jobs are what allow people to feel useful and build their self-esteem. Jobs make people productive members of the community. Jobs make people feel they are worthy citizens. And jobs make a country worthy players in the world market. In that order of things, it is the entrepreneurs who have the power to harness the creativity and talents of others to achieve a common good. This should leave the world a better place than it was.

Let me make it clear: Job creation is a priority for any nation to move forward. For example, it is the young entrepreneurs of Malaysia , Thailand , and Singapore who created the dynamic businesses that have propelled their countries to the top. Young people like yourselves. Meanwhile, in the Philippines , progress is slow. Very little is new. Hardly anything is fresh. With a few exceptions, the biggest companies before the war-like PLDT, Ayala, and San Miguel-are still the biggest companies today. All right, being from the Ateneo, many of you probably have offers from these corporations already.

You may even have offers from JG Summit. I say: Great! Take these offers, work as hard as you can, learn everything these companies can teach-and then leave! If you dream of creating something great, do not let a 9-to-5 job-even a high-paying one-lull you into a complacent, comfortable life. Let that high-paying job propel you toward entrepreneurship instead. When I speak of the hardship ahead, I do not mean to be skeptical but realistic. Even you Ateneans, who are famous for your eloquence, you cannot talk your way out of this one. There is nothing to do but to deal with it. I learned this lesson when, as a 13-year-old, I lost my dad. Before that, I was like many of you: a privileged kid.

I went to Cebu 's best school; lived in a big house; and got free entrance to the Vision, the largest movie house in Cebu , which my father owned. Then my dad died, and I lost all these. My family had become poor-poor enough to split my family. My mother and five siblings moved to China where the cost of living was lower. I was placed under the care of my Grand Uncle Manuel Gotianuy, who put me through school. But just two years later, the war broke out, and even my Uncle Manuel could no longer see me through. I was out in the streets-literally. Looking back, this time was one of the best times of my life. We lost everything, true, but so did everybody! War was the great equalizer. In that setting, anyone who was willing to size up the situation, use his wits, and work hard, could make it! It was every man for himself, and I had to find a way to support myself and my family. I decided to be a market vendor. Why? Because it was something that I, a 15-year-old boy in short pants, could do.

I started by selling simple products in the palengke half an hour by bike from the city. I had a bicycle. I would wake up at five in the morning, load thread, soap and candles into my bike, and rush to the palengke. I would rent a stall for one peso a day, lay out my goods on a table as big as this podium, and begin selling. I did that the whole day. I sold about twenty pesos of goods every day. Today, twenty pesos will only allow you to send twenty text messages to y our crush, but 63 years ago, it was enough to support my family. And it left me enough to plow back into my small, but growing, business. I was the youngest vendor in the palengke, but that didn't faze me. In fact, I rather saw it as an opportunity. Remember, that was 63 years and 100 pounds ago, so I could move faster, stay under the sun more, and keep selling longer than everyone else.

Then, when I had enough money and more confidence, I decided to travel to Manila from Cebu to sell all kinds of goods like rubber tires. Instead of my bike, I now traveled on a batel-a boat so small that on windless days, we would just float there. On bad days, the trip could take two weeks! During one trip, our batel sank! We would have all perished in the sea were it not for my inventory of tires. The viajeros were happy because my tires saved their lives, and I was happy because the viajeros, by hanging on to them, saved my tires. On these long and lonely trips I had to entertain myself with books, like Gone With The Wind. After the war, I had s aved up 50,000 pesos. That was when you could buy a chicken for 20 centavos and a car for 2,000 pesos. I was 19 years old.

Now I had enough money to bring my family home from China. Once they were all here, they helped me expand our trading business to include imports. Remember that the war had left the Philippines with very few goods. So we imported whatever was needed and imported them from everywhere-includin g used clothes and textile remnants from the United States . We were probably the first ukay-ukay dealers here.

Then, when I had gained more experience and built my reputation, I borrowed money from the bank and got into manufacturing. I saw that coffee was abundant, and Nescafe of Nestle was too expensive for a country still rebuilding from the war, so my company created Blend 45. That was our first branded hit. And from there, we had enough profits to launch Jack and Jill. From one market stall, we are now in nine core businesses-includin g retail, real estate, publishing, petrochemicals, textiles, banking, food manufacturing, Cebu Pacific Air and Sun Cellular.

When we had shown success in the smaller businesses, we were able to raise money in the capital markets-through IPOs and bond offerings-- and then get into more complex, capital-intensive enterprises. We did it slow, but sure. Success doesn't happen overnight. It's the small successes achieved day by day that build a company. So, don't be impatient or focused on immediate financial rewards. I only started flying business class when I got too fat to fit in the economy seats. And I even wore a used overcoat while courting my wife-it came from my ukay-ukay business.

Thank God Elizabeth didn't mind the mothball smell of my coat or maybe she wouldn't have married me. Save what you earn and plow it back. And never forget your families! Your parents deni ed themselves many things to send you here. They could have traveled around the world a couple of times with the money they set aside for your education, and your social life, and your comforts. Remember them-and thank them. When you have families of your own, you must be home with them for at least one meal everyday. I did that while I was building my company. Now, with all my six children married, I ask that we spend every Sunday lunch together, when everything under the sun is discussed. As it is with business, so it is with family.

There are no short cuts for building either one. Remember, no short cuts. Saint Ignatius of Loyola, your patron saint, and founder of this 450-year old organization I admire, described an ideal Jesuit as one who "lives with one foot raised." I believe that means someone who is always ready to respond to opportunities. Saint Ignatius knew that, to build a successful organization, he needed to recruit and educate men who were not afraid of change but were in fact excited by it. In fact, the Jesuits were one of the earliest practitioners of globalization. As early as the 16th century, upon reaching a foreign country, they compiled dictionaries in local languages, like Tamil and Vietnamese, so that they could spread their message in the local language.

In a few centuries, they have been able to spread their mission in many countries through education. The Jesuits have another quote. "Make the whole world your house" which means that the ideal Jesuit must be at home everywhere. By adapting to change , but at the same time staying true to their beliefs, the Society of Jesus has become the long-lasting and successful organization it is today and has made the world their house.

So, let's live with one foot raised in facing the next big opportunity: globalization. Globalization can be your greatest enemy. It will be your downfall if you are too afraid and too weak to fight it out. But it can also be your biggest ally. With the Asian Free Trade agreement and tariffs near zero, your market has grown from 80 million Filipinos to half a billion Southeast Asians. Imagine what that means to you as an entrepreneur if you are able to find a need and fill it. And imagine, too, what that will do for the economy of our country! Yes, our government may not be perfect, and our economic environment not ideal, but true entrepreneurs will find opportunities anywhere. Look at the young Filipino entrepreneurs who made it. When I say young-and I'm 77, remember-I am talking about those in their 50s and below.

Tony Tan of Jollibee, Ben Chan of Bench, Rolando Hortaleza of Splash, and Wilson Lim of Abensons. They're the guys who weren't content with the 9-to-5 job, who were willing to delay their gratification and comfort, and who created something new, something fresh. Something Filipinos are now very proud of. They all started small but now sell their hamburgers, T-shirts and cosmetics in Asia, America , and the Middle East In doing so, these young Filipino entrepreneurs created jobs while doing something they were passionate about. Globalization is an opportunity of a lifetime-for you. And that is why I want to be out there with you instead of here behind this podium-perhaps too old and too slow to seize the opportunities you can. Let me leave you with one last thought. Trade barriers have fallen.

The only barriers left are the ba rriers you have in your mind. So, Ateneans, heed the call of entrepreneurship. With a little bit of will and a little bit of imagination, you can turn this crisis into your patriotic moment-and truly become a person for others. "Live with one foot raised and make the world your house."

To this great University, my sincerest thanks for this singular honor conferred on me today. To the graduates, congratulations and Godspeed. "Ad Majorem Dei Gloriam". Thank you.


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How a Millionaire’s Brain Works

How a Millionaire’s Brain Works


A man walked into a bank in New York City one day and asked for the loan officer.

He told the loan officer that he was going to Philippines on business for two weeks and needed to borrow $5,000. The bank officer told him that the bank would need some form of security for the loan.

Then the man handed over the keys to a new Ferrari parked on the street in front of the bank. He produced the title and everything checked out The loan officer agreed to accept the car as collateral for the loan.The bank’s president and its officers all enjoyed a good laugh at the guy for using a $250,000 Ferrari as collateral against a $5,000 loan.

An employee of the bank then drove the Ferrari into the bank’s underground garage and parked it there.Two weeks later, the guy returned, repaid the $5,000 and the interest, which came to $15.41.

The loan officer said, “Sir, we are very happy to have had and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a multi millionaire. What puzzles us is, why would you bother to borrow “$5,000″.

The millionaire replied: “Where else in New York City can I park my car for $15.41 and expect it to be there when I return”

Well thats how the rich stay rich, they know a lot more about Money Management. All the millionaires I have met in my life were penny wise. Look after your cents and the Dollars will look after themselves.



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