Countdown to 30 – Second in Series

I want to be a successful entrepreneur. I really wish that one day I will own a business that will create jobs for many hardworking and persevering fellow Filipino. This is my ultimate dream in life. But realities are hitting me left and right giving me reasons to just forget about it. Like, I can’t be too ambitious. But in the last two days, I am seeing a slideshow in my head. I have been imagining the exterior of my own establishment where my food business/es will come to life. As I go along in this visualization, I discovered quite a lot of things about myself.

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Julianne

2:03 AM

Four years have passed since I decided to leave the corporate world, yet the memories of my previous employers are still vivid and clear. Some of them left the world unexpectedly with their untimely death, some can be searched in Facebook and others are hopefully soaring in some part of this world. As I have said in one of my old posts, having the opportunity to work with the President/Chairman/CEO of a company (not once but twice) was a huge privilege. Today, as I run my own micro business I now consider that experience as the biggest highlight of my professional career.

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Julianne

5:51 AM

I’m frugal. My brothers know that. My mother knows that. My father knows that. My four younger cousins know that. And now, I am opening the portal to My Frugal World to everybody. Wide open.

Before…

1. When I was still in college, there were days that my wallet contained just the exact amount (or 1-5 peso higher than the exact amount) for my pre-calculated expenses. This way I was able to turn down the unneeded and was able to save more bucks than usual.

2. When I was still employed, I preferred receiving my meager income in small brown envelope than in ATM. Simply because bus conductors are more delighted to receive exact fare than a hundred bill lalo na sa umaga. If you’re a commuter like me even 25 centavos matter (or sa akin lang?)

3. A regular lunch meal in school or office canteen was usually @ P50+. For me, that figure was already close to expensive. So once or twice a week I would have a "tupperware meal." No wonder I used to have dry skin.

Today…

1. Tricycle fare from the subdivision’s main gate to our house is nine pesos; 36 pesos if special (para akong sumakay ng aircon bus papuntang Santolan). Because of this, walking has become an instant weight loss regimen if the sun is not too hot (di baleng pagpawisan ng bonggang bongga wag lang magbayad ng 36 pesos na sapalagay ko ay overpriced). I hate debates so I’m keeping my angst to myself.

2. Sometimes when I crave for a happy meal, I bring bottled water so I wouldn’t have to buy myself a drink. That’s less 2-5 pesos I think. I’m 5 peso richer. I love that (oh, you don't?)!

3. At night, I don’t turn on the electric fan for as long as I’m not bathing in sweat. That is my simple way to reduce our electricity bill. Unfortunately, I still haven’t seen a dramatic tumble. Should I stop using computer? Oh no, I didn’t do any crime (aside from killing bugs and mosquitoes). I don’t deserve such punishment.

To be continued…

Photo grabbed @ freeyourmindonline.net

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Julianne

9:55 AM

The fourth fragment of My Journey to Financial Freedom reveals my thoughts and sentiments about my present status. Don’t worry this is not a heavy drama just life's reality.

In my last three posts, I have exposed my curriculum vitae and my various business ventures plus an exiguous (nosebleed) job hunting experience outside the country. So you might be asking what exactly I am doing now for a living.

I am not proud to say this but I will say it anyway. I am living a life of a bum since I resigned in my last job in 2009. This means:

1. I no longer wake up at 4 in the morning for my two hour regimen (day dreaming included).
2. I no longer squeeze myself in towards the middle part of a crowded bus (quite easy for me).
3. I no longer travel for 1 to 3 ½ hours with naps in between (if not in a standing position).
4. I don’t have a boss (which I like the most. Hehe!)
5. I don’t have regular income (which I hate the most. Sigh)
6. I don’t follow a strict schedule (Oh, I love my freedom).
.
How am I able to survive?

I live with my parents.With our very limited financial resources (my father’s job and our micro business), I am helping curtail our expenses to make ends meet. So far, I am successful in enduring a variety of worldly temptations by not going to the mall too often unless necessary and by avoiding 3-day sale. My 4 piggy banks have enormous contributions too. I am also a sucker of free seminars or seminars with relatively small fee. A one-day course in making dishwashing liquid gave me a few hundred earnings. Once, I was very enthusiastic in real estate because it promises an incredibly high return but I have remained unlucky till this day. 

Life is really difficult these days. Financially and emotionally. Along with the kind of life I chose is swallowing my pride. Today, I’m doing certain things that I don’t do years back. Because of our micro business, I now go to wet and dry market and carry a huge and heavy transparent plastic on my left hand and a box of 30 eggs on my right. Sweating like a pig, I am comparing prices of commodities and even make “tawad” if the situation permits. Certainly, a total opposite of a life in the corporate world. When I was still employed we have utilities to assists us whenever necessary. I seldom perspire because the office is air-conditioned. In processing sales order all I need is a paper and a pen. An e-mail and a phone call also make life so much easier. Today, my mom and I are taking turns in going to the market. Most of the time, it’s really just the two of us doing everything from purchasing to selling to inventory to accounting to maintenance. It’s physically demanding, so to speak. However, there is inner joy. For a very long time, I didn't know exactly why I took up Business Management in college. Now, I’m grateful that I took this course. The frequent change of jobs made me suspect that I have personality problem. Only to realize now that the struggles in my past employments are actually preparations to the "now challenge." And finally, the homilies of my bosses are starting to sink down deep to my very core. They were my mentors. 

What’s the real problem?

Though physically demanding, doing this micro business is somewhat fulfilling. However such business is just giving us a very meager profit. And that’s the real problem. Prices are continuously going up but our profit remains in a straight horizontal line and on really bad days in a bearish direction. What a joy!

One day, I deposited a small amount in my savings account. When the teller returned my bank book there was a 75 peso increase. I had a fake smile. For this reason, I made a bold decision.

And that’s next (and the last)…

Photo grabbed @ guardian.co.uk

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Julianne

9:36 AM

This time, let me share my various business ideas. Learn from my brilliant business concepts…my failures rather. This is the third piece of My Journey to Financial Freedom.

“The Ups and Downs of Taking Risks” was my official entry to Bro. Bo’s blogger contest last October 2010. It was about the different businesses that my family got into. Hitting rock bottom was a no stranger to me and my family. We failed in 5 businesses (two of which were not in my entry) and lost lots of money. Worst, some of my parents’ hard-earned labor just went to the hands of the greedy. Realizing our past mistakes, we have learned two lessons (1) aggressiveness is good but timing is more important and (2) know who to trust.

Venturing into business is risky. And there is no way that you can totally eliminate problems even in micro business such as sari-sari store – the sixth business venture. Today, problems are still left and right. In fact, last month we experienced our first loss in one year. It’s frustrating, of course. But there is no basis for panic yet since the situation is still manageable. We are confident that we can recover what we have lost. We are aware, however, that in the long run expenditures will increase and this type of business may not possibly be enough or let’s just put it straight - it’s not enough. We have to go up at least one level.

Just this year, we thought of entering into another business. My first idea was a food business and my target market was high school or college students. But we didn’t want to rush things and make the same mistakes again. So I had a “serendipity walk (the mental exercise involves strolling through Manila and observing the community to see what business opportunities could be developed source: Negosyo Joey Concepcion’s Inspiring Entrepreneurial Stories).” I went to different schools and universities in Metro Manila except in Diliman, Katipunan and Vito Cruz. My travel immensely influenced my initial plan. I started switching from one idea to another. When I finally accepted that my food business concept was not possible I suddenly considered selling school supplies or buying franchise. One day, I saw a seemingly perfect spot to sell school supplies – PUP. There was a relatively perfect space available just few steps away from the main gate. Few hours later I found out that the space was already taken. Sigh!

Franchising, on the other hand, is also a good option since when you buy a franchise there is already an established system. On the downside, it entails huge capital. A good franchise business requires an investment capital of 150 thousand to millions. If you are going to rent a space, add that to your initial costs. The question was “Where are we going to get that large amount?” Setting the problem aside, I went to different places like shopping malls, supermarkets and other public places. My goal was to observe the operations of various food-carts particularly the ones I like. I would go to the nearest mall as often as I could. To my dismay, I observed that a lot of businesses were closing. Some of them just opened in less than a year. My frequent visit resulted to another breakdown. My conclusion: NO to franchising at least for now.

Next in line is to establish a clothing line for male. My daily life revolves with four young men. I also have two uncles in the neighborhood. And they have one common denominator - they love t-shirts. So a new business idea was born. I was ecstatic to do this since it deals with art and the capital is moderately small. In the absence of Adobe Photoshop in my computer system, I started making designs using google images and boost it using Microsoft Office Picture Manager or Paint or Photobucket. I printed a few samples and voila an online business. I thought. The scenario has drastically changed when my big brother installed Adobe Photoshop and started using it. OMG! It wasn’t as easy as I thought. I couldn’t squeeze out even a drop of creative juice. Cynical, I’m taking a break. Mastering the program will probably take a while. As I have said, aggressiveness is good but timing is more important.

Thinking about all the business plans I had is annoying. I failed again. Failure seems to be never-ending. My only consolation is a deeper realization about business planning which is a different story. Despite that, I choose to stay optimistic. Today, I’m actively monitoring our daily income vs. operating expenses. I just want to think that this is a time to hone my financial and decision making skills in preparation to a bigger challenge ahead…

Watch out!!! I see it coming… :D

Photo grabbed @ technyat.com

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Julianne

11:43 AM

This is the first installment to My Journey to Financial Freedom. To first-time job seekers I only have one piece of advice: Huwag po akong tularan!!! 

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Julianne

10:31 AM

I believe God wants every person to prosper. But the magnitude of our wealth really depends on us.

Photo grabbed @ schoolyourmind.com

P.S. My future posts will center on my "professional life" entitled My Journey to Financial Freedom. I have wasted a lot of time in the past 27 years of my life. And I admit that one of the major reasons is my lack of focus. I’ll be blogging about this matter as my way to motivate myself to be mindful of my future actions. I’m anxious but I’m also excited.

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Julianne

10:11 AM

When I was still in high school, my parents invested in a clothing business. We were bankrupt because we partnered with a wrong person. Five years ago, while we were renovating a rental space into internet café, we were swindled by a couple whom we thought were the owners of the commercial building. We lost thousands. Worse, the only way to get justice was to file a suit. Knowing the justice system in the Philippines, we decided to just forgive and forget. Few months after the incident, we revived our plan in a different location. The business lasted for only six months. We were neither gaining nor losing money. It was break-even, so to speak. I guess, my parents’ patience way back was so short to give it one more chance. Last May 2010, we took another risk. This time, it’s a sari-sari store. And here’s the story…

Putting up a sari-sari store is a no joke. It is not as simple as it may seem. There are a lot of elements that must be put into consideration such as capital, location, market, delegation etc. Yes, even a small business as sari-sari store is a challenge and a risk. And I am glad, that our family was able to surpass all the initial trials. When we started, the net profit was so small. We barely felt the product of our hardwork. But we thought it was ok since we were just starting. After few days, we decided to invest more. We filled our storage cabinet with typical goods found in any sari-sari store and other items for human consumption. When we had enough, we invested in improving our facility by putting a roof outside to cover our customers from the scorching heat of the sun and the rain. We also put a wooden bench where one can sit and relax while sipping a soda. Thus, our actions have been producing good fruits gradually. I am happy to say that we now have regular customers or in tagalong “suki.”

Venturing into business is actually exciting. Seriously. In spite of everything that we’ve been through, I can honestly say that in bad days business can be so complex and demanding but in good times the fulfillment is divine. It is not only a source of income moreover it teaches us lessons. Recently, I went over the Kerygma Feast Prosper Series (How to Open Your Life to Abundance) bulletins. The Bo Sanchez’s talk has six sub-topics (1) Believe; (2) Serve; (3) Grow; (4) Duplicate; (5) Invest and (6) Tithe. Unfortunately, out of the six bulletins only three were left and these are about Serve, Duplicate and Invest. Now that my parents have finally entrusted me to be involved in the operation and decision making, the messages of Bro Bo are starting to become more valuable.

In the Feast bulletin, Bro Bo said…

(1) February 28, 2010 Session 2: Serve. If you want to be rich, I encourage you to find more people to serve. The more people you serve (number of customers), and the more ways you serve (number of products), and the more excellent your service becomes (quality of products), the richer you’ll become.

Insight: When we started the business, our products were very limited because we were afraid to spend a lot and lose a lot. But our notion was so wrong. When we added more goods and improved the façade of our store, it became more attractive. Thus, more people began to recognize our small business and eventually we are now serving more people.

(2) March 14, 2010 Session 4: Duplicate. If you want to become wealthy, you need to duplicate yourself. Why? When you duplicate yourself, you serve more people. And more people served means more financial rewards.

Insight: My mother used to tell me “Kapag late ka na nagbukas, maghahanap ang mga tao ng ibang tindahan kahit malayo. Mababawasan tayo ng suki.” And I think she’s right. Besides, if we open at an early time and closes late, the possibility of earning more is bigger. And we shouldn’t be comfortable with what we have now because there is always a threat of competition. Someday, other businesses might flourish so in this line of investment, business development is highly recommended.

(3) March 21, 2010: Invest. Handling your money isn’t just an isolated area of your life. It reflects your character. It exposes your values. So bring this area under God’s rule. Live below your means and learn to invest for your future. By doing so, you develop patience, perseverance and detachment.

Insight: Two weeks ago I formulated a system that will help us handle finances properly and I call it “Income Allocation System.” Regularly, I divide our earnings into four categories which I put it in my piggy banks. My belief is simple: Money is tempting. If you want to save, don’t let money entice you.

In the topic, Invest, Bro. Bo also cited the three types of money pumps: (1) Business, (2) Property and (3) Paper Assets. The talk focused on paper assets. The talk was so powerful. My desire to learn stock investing was awakened and empowered. Unfortunately, I had no job then and the family was not yet into new business. I was totally broke. Since I was also hesitant to ask my parents for a capital, nothing has happened until this day.

Although we have a small business now, there is no harm in learning stock investing. If we talk about long-term plans and much bigger profit, I think investing in paper is a wise option. Realistically speaking, our earnings are either enough or inadequate to pay the monthly bills and other expenses. We are only able to save because certain percentage goes to piggy bank with label “savings.” Good thing, everybody is too lazy to hook bills and coins in a small rectangular hole except the perpetrator. And that’s me, of course. Hehe! And when I am able to reach a thousand I will deposit it to the bank only to withdraw it few weeks later for our monthly outlay. What a joy! Lol!

However, our current venture is still a big blessing from God. And  I truly believe that it is just the first step towards bigger undertakings. The question is, are we now ready to step further and take new risk? Well, I think it’s irrational to pursue something that we have no knowledge of. That is why I am glad that there are various tools available to educate us with essential information on how to invest in the stock market and other means of investing. For example: 8 Secrets of the Truly Rich is a book written by Bo Sanchez. In this book, you will neither find tips from a former lotto winner nor 6 lucky numbers that you can bet in 6/49 raffle. The book reveals the importance of having a wealthy mindset which is the root of any success story. The website Investing in Philippines is a blog that shares and discusses investing opportunities in the Philippines. Bo Sanchez and his Truly Rich Club are conducting seminars about gaining financial wealth and spiritual guidance at the same time. And so much more…

In short, there is no good excuse not to learn and widen my knowledge on investing. If still nothing happens, it’s called laziness.

Photo grabbed @ pcij.org

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Julianne

7:17 PM