I was reading Yahoo.com and spotted this article about the simply ideas that turn the owners of the idea into multimillionaire. To read the article click here.
Of the ideas that was mentioned in the article, the Spanx idea is the one I am familiar with. I remember back then when the owner of the idea, Sara Blakely, joined Richard Branson’s reality TV show called “The Rebel Billionaire.”
She was one of the finalist and I don’t know if she was the one who took the risk advertising the product by making sudden naked appearance in a concert. As we all know Richard Branson was challenging those entrepreneur contestant how far will they go to give their product a boost.
I am writing this post to expand our goal and understanding.
Here is the common Pinoy mentality in regards to how we earn money and the goal why earn money.
It all circles to the job we have been or to the same work only at different companies.
Why don’t we change it into the entrepreneurial and investor’s mindset:
The goal of each college graduate should not be to be an employee only of a big and high paying company but to be able to established business that will help him or her to setup asset that will generate passive income in the future.
Your ideas no matter how small or simple might be worth a million but it needs you to act on it. If you will stay as an employee that idea wont get fulfilled. You have to be passionate about your idea, you have to believe in your idea, and you have to sell your idea in order for it to have value to other people.
When you have established that idea and it starts to generate money you must step a level higher into the ladder and that is to setup assets that will generate income even if your idea losses its luster.
That is why investing is a integral part of being an entrepreneur. A business might continuously generate income but it needs a lot of your time and funds in order for that to operate smoothly. That is why even though if you have a big savings from employment you have to make that money your money machine by making it work harder for you and not you working harder each passing year in order to keep up with inflation.
So remember this, your goal is to one day have your investments generate enough passive income so that you don’t need to break your back working for somebody else.
Earn and save as much as you can in your current job, learn and invest wisely as early as possible and live life by sharing not only your blessings but the knowledge of how you have achieved success in life.