ARE YOU THE NEW BREED OF FILIPINO RICH CLASS?
Normally, a person is called "rich" or "mayaman" if he has plenty of money or high salary at the office. We have often mistaken Money / $ as the symbol for FREEDOM . But throughout history, it has been proven that the equation must look like this:
WEALTH = Money Freedom + Time Freedom
This is the true definition of the RICH CLASS. The rich obtain wealth legally by having first, a business with A TEAM and A SYSTEM.
A TEAM --> Forbes Magazine define a business as that with at least 500 people working for the owner or with the owner as partners.
A SYSTEM --> is a method that is duplicable, say for instance, the system of franchising -- a McDonalds burger is cooked the same way in whichever McDonalds store franchise in the world.
It is through having both a team and a system that the RICH FAMILIES obtain TIME FREEDOM, to enjoy their earnings and help even more people, in terms of giving job opportunities and supporting charities and foundations.
A TEAM --> Forbes Magazine define a business as that with at least 500 people working for the owner or with the owner as partners.
A SYSTEM --> is a method that is duplicable, say for instance, the system of franchising -- a McDonalds burger is cooked the same way in whichever McDonalds store franchise in the world.
It is through having both a team and a system that the RICH FAMILIES obtain TIME FREEDOM, to enjoy their earnings and help even more people, in terms of giving job opportunities and supporting charities and foundations.
To illustrate more simply, here's Robert Kiyosaki's CASHFLOW QUADRANT. As a financial educator and US dollar multimillionaire, Sir Kiyosaki showed us that there are
FOUR DIFFERENT TYPES OF PEOPLE IN THE WORLD OF MONEY AND BUSINESS:
1. THE EMPLOYEES
2. THE SELF-EMPLOYED
-- this includes our professionals, artists and freelancers. They are our doctors, lawyers, accountants, singers, real estate brokers etc. This also includes our Small Business owners. Their language is "my rate per hour is --", "I am my own boss", and "if i wanna do it right, i have to do it myself". They're usually the perfectionist, the hands-on individuals who can not share their skills to anyone. Thus, they're called the SOLOISTS. Yet, we can not blame them. Take for example a dentist who has a clinic, can he share his knowledge on how to run the clinic to anyone? What happens if he shares this knowledge? Definitely, he will start to have competitors. Small business owners can not leave their business for a month, a week or even for a day. Because the owner is the system. The business stops running once he retires.
NOTICE THAT BOTH EMPLOYEES and SELF-EMPLOYED HAVE CHANCES TO EARN LOTS and LOTS of MONEY, BUT IT IS NEVER POSSIBLE FOR THEM TO HAVE TIME FREEDOM IF THEY DO NOT DECIDE TO MOVE ON TO THE RIGHT SIDE OF THE QUADRANT -- THE BIG BUSINESS OWNERS AND INVESTORS QUADRANT.
3. THE BIG BUSINESS OWNERS / BUSINESSMANS
-- they are the tycoons, Henry Sy, Lucio Tan, Warren Buffett, Michael Dell. They can have a year of vacation and still have their businesses up and running. Their secret? All of them have A TEAM and A BUSINESS SYSTEM working for them. They understand the idea of LEVERAGE or using O.P.R. (Other People's Resources) like time, skills, talent, education, expertise to make their success Bigger and Faster. This also includes O.P.M or using Other People's Money, that's why most employees never understand how businesspeople manage to have debts -- employees loan for liabilities (car, house, gadgets etc) while businesspeople loan for assets (businesses, rental properties etc).
4. THE INVESTORS
-- If Big Business Owners have a team and a business system working for them, the Investors have MONEY WORKING FOR THEM. They use money to buy investments like real estate properties and paper assets in the form of stocks, government bonds, mutual funds, certificates. It is not ideal for an employee and self-employed to cross straight to the I Quadrant without going through the B Quadrant first.
Because it is through having a Business,
that one learns the 3 E's --
EDUCATION,
EXPERIENCE,
EXCESSIVE CASH.
That's why tycoons recommend that you have your own B-Business first as your training ground and for you to build your network of investors and business partners. Because the world of I is much more complicated.
TOP 5 REASONS WHY MOST FILIPINOS STAY POOR & MIDDLE-CLASS:
"Give a Man a Fish, and You will Feed him for a day,
but Teach A man how to Fish and you will feed him for a Lifetime."
1. They are afraid to fail in business.
" Fail = First attempt in Learning"
"In order to succeed you must fail, so that you know what not to do the next time."
2. They believe they can not start a business because of lack of capital.
"Capital isn't that important in business. Experience isn't that important. You can get both of these things. What imporant is Ideas"
- Harvey S. Firestone
"Give a Man a Fish, and You will Feed him for a day,
but Teach A man how to Fish and you will feed him for a Lifetime."
3. They are ignorant when it comes to money management.
- Robert Kiyosaki
"People think that working hard for money, and then buying things that make them look rich, will make them rich. In most cases it doesn't. It only makes them tired. The poor and middle class work for money. The rich have money work for them.The rich buy or create assets that work for them so they don't have to.Remember, Your Mind is your greatest asset, so be careful what you put into it."
4. They start a business, but choose to remain "small".
"Success in business requires training and discipline and hard work. But if you’re not frightened by these things, the opportunities are just as great today as they ever were. "
– David Rockefeller
5. They miss to educate themselves in the areas of money and investing.
"To succeed in business, to reach the top, an individual must know all it is possible to know about that business."
- J. Paul Getty
Lastly,
"Give a Man a Fish, and You will Feed him for a day,
Categories:
New Breed of Filipino Rich Class
