Being an entrepreneur this day and age seems so difficult. Most of the complaints that I hear from people who want to start their own businesses are of the following topics — How to get started, Concerns on Business Registration, Where to get Capital and Unfamiliar with technology and online tools. And then, most of those who want to delve into entrepreneurship want to start on implementing different businesses all at the same time.
Although it’s true that you need multiple sources of income, please don’t create various businesses and set it up all at the same time (unless you can come up with efficient processes in a day and implement it on that same week or if you’re just a silent partner for the other businesses). I have been an avid follower of Timothy Ferris. I have read his book the Four – Hour workweek and Four – hour body and in reading his book, I had a lot of realizations. One realization was that no matter how efficient you have build your processes for a certain period in time, you may need to change that after a few years in order to become more competitive and in order to adapt to your audience.
For example, a lot of you know that I built Manila Workshops almost two years ago. When I built that business, I already had set processes in place. I designed it in a way that I could step out of the daily grind of things and just oversee things and manage people, and that the only thing that I had to worry about was to look for good people to guide and concentrate on building relationships. But then, now, with the entry of competitors and the ever changing digital landscape, I am pressured to strengthen the brand and develop new processes (so watch out for that! Lol!).
Another realization was I should already be gearing up to earn passive income. Passive income means that even if you are not physically there, you’re earning big bucks from your business. Now that’s the hard part since events management requires you to really “be there” (or does it?). Again, another challenge or thing to think about!
So for entrepreneurs, you have to be constantly changing your tactics, processes and even the roles and responsibilities of your people. And you have to have that goal of earning more passive income. This lead me to agree to be one of the speakers of the New Rich Society Program.
First and foremost, what is this term? Who are the New Rich? Timothy Ferris actually mentions this in his book. The New Rich are people who make money even when they’re sleeping because they have passive income. Yes, they work hard for the money; but more importantly, they also make their money work hard for them. These are the people who work SMART rather than work HARD. How do they do this? They do this by building networks, creating systems, putting up businesses and investing in instruments that eventually become an automatic income source, making money for them year after year.
I have a secret to share. Although I keep on telling people in my mentoring sessions or even in my speaking engagements to create vision boards, I only got to create mine last month. Lol! But it has really worked for me and I keep on telling people that because I was actually amazed on how great it has worked for me. With my vision board, everything is clearer. I know where exactly I would get that passive income. The “how’s” became clearer. I don’t consider myself a part of the new rich yet (technically), but I know that I will eventually get there in 5 years.
Now, in the Philippines, a group of gentlemen (Jon Oraña, Burn Gutierrez and Fitz Villafuerte) founded the New Rich Society. The New Rich Society is an online learning series about creating multiple sources of income. Its focus is to help Filipinos discover and learn different ways to make money, so they won’t have to rely on just their job salary.
Jon Oraña is a business coach who teaches people how to become entrepreneurs at his blog, Eskapology. He is a successful internet marketer who has been helping Filipinos shift from being employees, to business owners.
Meanwhile, Burn Gutierrez is a financial education advocate and Chairman for the Angat Pilipinas Coalition for Financial Literacy, Inc. (OFW UsapangPiso Seminars and Online Forum).
Lastly, Fitz Villafuerte is a Registered Financial Planner (RFP) who is best known as the founder of business and finance blog, Ready To Be Rich. He is an author and a speaker-trainer for various companies and non-profit organizations.
I agreed to be a speaker because my personal goal is to really help people find ways to augment their income. I always had a lot of “rackets” and I’d like to share strategies on how I personally built all my businesses. Check out my interview for the New Rich Society by leaving your email on this link (CLICK HERE) and subscribe to the New Rich Society newsletter.
I am so honored to be one of the mentors for this program. The course will be comprised of these topics that I’m sure will be highly beneficial for those curious on having multiple streams of income:
• Making money in the stock market by Floi Wycoco
• Putting up a business and becoming an entrepreneur by Chal Lontoc
• Earning online from blogging by Ben Francia
• Investing in pooled funds by Randell Tiongson
• Building a real estate empire by Jay Castillo
• Starting an online store business by Ginger Arboleda
• Selling e-Books as a business by a “Secret Expert”
• Fast profits from forex trading by Fitz Villafuerte
So feel free to join the New Rich Society. There is a FREE video training currently ongoing. Click and learn from the New Rich Society HERE
Do you have questions that you want to raise which is related to my topic? Please do leave comments here so that I can include answering them during the program.