14 Mar
Be Younique Blog, Business, Debt-Free

May Pera Ka Ba?

I am a businessman and I made my first million at the age of 22. Akala ko noon, ang pinaka-importante sa buhay ay ang maging successful sa career o sa negosyo kaya naman ginawa ko ang lahat upang umangat ako. Marami na akong nasubukang iba’t ibang negosyo, mula sa trading, manufacturing, kiosks, at direct selling. Hanggang sa pinasok ko ang restaurant business at doon nga nawala ang lahat… Sa edad na 30, naubos lahat ang ipon naming mag-asawa at nagka utang-utang pa nga. Kasama ang ilang business partners, nawalan kami ng ten million pesos at nagkaroon pa ng utang na 2.5 million pesos. Ngunit noong December 2010, through God’s grace, nabayaran namin ang aming pagkakautang.

 Ang nangyari sa amin ay nakatulong upang maging mas mapagkumbaba ako at mapagtantong mayroon akong mga limitasyon; at ngayon ngang alam ko na ang aking mga limitasyon, nakabuo ako ng mas makatotohanang strategy para sa aking personal at financial growth. Tandaan na ang personal finance ay 80% Behavior at 20% Knowledge.

Naranasan ko na ang mga ups and downs sa buhay. Ang isang sign ng taong marunong sa pera ay iyon ngang taong marunong mag-adjust sa sitwasyon; iyong marunong magtipid sa oras na nag-uumpaw ang biyaya at marunong magsikip ng sinturon kapag oras ng kagipitan. Hayaan mong bigyan ko kayo ng tips kung ano ang maaari ninyong gawin para matuto at unti-unti kayong makapag-adjust at nang ang inyong pera ay hindi lang maging sakto o sapat – hayaan itong maging siksik, liglig at umaapaw!

1) Gumawa ng Budget

Magplano at isulat mo ito. Kapag hindi mo ‘yan isinulat, para ka lamang nagsulat sa tubig. Kung ang mga kumpanya nga ay mayroong financial statement, maaari tayong matuto sa kanilang gawi.

Gumawa ka ng budget at mas maigi kung kasama si mister. Sa totoo lang, kailangan ninyong pag-awayan ang budget niyo. Alamin kung ano ba talaga ang inyong needs and wants; baka kay mister, ang pakikipag-inuman sa barkada is a need and kay misis, ang shopping naman ay need. Pag-awayan niyo na ang budget niyo dahil mas maganda na mag-away ng isang beses imbes na mag-away kayo araw-araw kapag kinapos na sa pera.

Ang paggawa ng budget ay hindi natatapos sa isang upuan.  Maaaring abutin nga ng ilang buwan bago niyo talagang magawa o mabuo ang tamang budget para sa inyong pamilya; kaya naman maiging pag-usapan ninyo itong mag-asawa at least once a week sa loob ng dalawang buwan at matapos nito, maaaring pag-usapan niyo ito kada buwan kung magkakaroon ba ng adjustments o kung ano pa man.

Ang budget nga ay maituturing natin bilang isang mapa at kailangan ngang isulat mo muna kung saan ba dapat mapunta ang iyong pera bago mo pa ito makuha. Isama mo ang perang itatabi mo at ang perang ilalabas kahit na ba ang mga binabayaran mo kada taon tulad na lamang ng insurance kung mayroon ka man. Tandaan, isulat mo iyan!

2) Maghanap ng Extrang Pagkakakitaan

Maghanap ng maaaring maging sideline na business. Magsimula lamang sa maliit para hindi ka mabigla. Pwedeng magtinda ka ng mga pagkain o di kaya mag-buy and sell. Lalo na nga kung Pasko, maaari kang magbenta ng mga gift items, imitation perfume, slippers at iba pang bagay na in ngayon.

 O di kaya, tumungo ka sa iyong silid at tingnan mo ano nga ba ang mga bagay na hindi mo na ginagamit baka naman maaari mo pa itong ibenta! Ang tawag nga diyan sa corporate world ay liquidation. Magbenta kayo ng magbenta ng mga gamit na hindi niyo kailangan hanggang matakot na ang mga anak niyo na sila na ang susunod.

3) Bawasan ang Gastos

 Ito nga ang sinasabing formula kung nais mong maging financially free: “Spend less than you earn, and do it for a long time, then you can be financially free.” (Gumastos ng mababa pa sa iyong kinikita at gawin ito ng matagal at ikaw nga ay magiging financially free)

Ang mga tunay na milyonaryo na walang utang ay hindi magarbo kagaya ng ating iniisip.

Bihira nga silang bumili ng bagong sasakyan at mas gugustuhin pa ang mga second hand na sasakyan. Bakit ‘ka mo? Dahil ang bagong sasakyan, sa oras na ilabas mo ito sa casa, babagsak na agad ang halaga nito ng halos 20% dahil nagamit mo na. Ang tawag diyan ay depreciation.

Kagaya ng magagarang sasakyan ay huwag ka ring magpadala sa mga latest gadgets na inilalabas. Lahat nga ng mga bagong gadgets na iyan ay bababa ang value sa loob lamang ng ilang buwan. Naalala ko nga nang unang lumabas ang iPad ay nagkakahalaga ito ng P45,000; pero makalipas lamang ang ilang buwan ay bumaba na ang presyo nito sa P26,000. Kung ilalagay mo sa banko ang P26,000 mo ng 10 taon ng may 1% rate per annum, hindi ito aabot ng P45,000. Be patient! Huwag magpadalos-dalos sa mga desisyon!

4) Ipunin ang Pera

Sabi nga sa Bibliya, “He who gathers little by little makes it grow.” Kaya naman mabuting ipunin mo ang, at least, 10% ng iyong kinikita.

Mahalagang magkaroon ka ng emergency fund. Ang emergency fund ay dapat katumbas ng 6-8 buwan ng iyong living expenses at nakatabi lamang ito sa bangko. Kapag ang living expenses mo ay P25, 000 a month, sa loob nga ng 6 na buwan ay kakailanganin mo ng P150,000  na emergency fund.

Bakit nga ba natin kailangan ng emergency fund? Hango nga sa salitang emergency, ito ay makatutulong upang hindi kayo mabigla sa mga gastusin, halimbawa na lamang na magkasakit at ma-ospital ang inyong anak. Hindi ba’t medyo malaki ang gastos? Ano ang gagawin natin? Ang madalas na ginagawa natin ay mangungutang tayo sa kaibigan o kamag-anak pero kung may emergency fund ka, doon mo na kukunin ang gagastusin sa ospital.

O di kaya kapag nawalan ng trabaho si mister ng ilang buwan, saan kayo kukuha ng pera? Tama, sa emergency fund. May 6 months ka pa bago maubusan ng pondo at sapat na itong panahon upang makapaghanap muli ng trabaho si mister. Buuin muna ang inyong emergency fund bago niyo bilhin ang anumang luho niyo para sa oras ng kagipitan, mayroong maayos na makakapitan.

5) Kumawala sa Utang

Sinasabi ngang getting out of debt is a test of character. At kung mapapasa mo nga ang test na ito, mas mapagkakatiwalaan mo ang iyong sarili at gayun din naman, mas madali mong makukuha ang tiwala ng iba; at syempre, kapag pinagkakatiwalaan ka na ng tao, madali nang mag-negosyo. 

Nagawa nga namin ng asawa ko na bayaran ang aming P2.5 million na utang sa loob ng dalawang taon. Sa totoo lang, hindi ko alam kung paano namin ito nagawa. Tuwing magkakaroon kami ng additional income, nagbabayad kami para sa aming utang maging malaki o maliit man ang aming hulog. Mayroon nga kaming walong credit cards noon at lahat nga iyon ay may utang. Nang nagbigay nga ako ng speech sa harap ng 300 katao noong December 2010, itinaas ko ang huli kong unpaid credit card at sinabi ko ngang, “this is plastic surgery.” Ginupit ko ito sa harapan at sumigaw ako ng FREEDOM. Ang makawala sa pagkakautang ang isa sa pinakamasarap na maaari mong maramdaman.

Hindi ko na sinama ang tungkol sa investing dahil iba na ang paksang ito. Pero sa oras na matapos o masunod mo na ang mga nasasaad dito, ay maaaring mag-simula ka na sa pag-iinvest.

Ang huling maipapayo ko sa inyo ay maiging ibahagi ninyo ang inyong pera. Itabi na ang 10% ng inyong income para sa tithes. Magbigay sa simbahan o di kaya sa isang organisasyon na maaaring nangangailangan nito. Tandaan mo na “It is more blessed to give than to receive”)

23 Jan
Be Younique Blog, Business

3 Steps to turn your Idea into Reality

1) Idea

This is the Creation phase. All ideas were incubated in thought first before it became a reality. 

Be positive. Be open to any idea that will come up. After gathering all the ideas — choose which ones you will use. 

Be negative. Scrutinize all the flaws and weaknesses of the idea. This is the time to shoot everything in sight.

Be positive. Take all the positive and all the negative together; check if the positive outweighs the possible negative hurdles along the way. If it does, this is the moment you welcome the bad with the good. It helps you prepare for contingency plans for any possible negative outcome.

2) Sell

You need people to buy into your idea. People don’t buy what you do, they buy why you do it. This is different from convincing; this is inspiring people to jump aboard the bandwagon with you.

3) Ship it

An idea is just an idea if you don’t execute. Business guru Seth Godin coined this catch phrase “Ship It.” Act! Move! Go! Make Things Happen! Do something that matters by making your ideas matter.

10 Dec
Be Younique Blog, Business

Are you a Mango tree or a Mongo seed?

There are two types of people in this world — you’re either a mongo seed or a mango tree.

On the one hand, if you want to grow mongo (mung beans), you soak it in water for 8 hours, drain, and place it in a new container for germination. It takes between 2-6 days for mongo seeds to sprout fully. You can eat them already at this point.

On the other hand, a mango tree takes 6-10 years before it will bear fruit. But mango trees are long-lived and some are even producing fruit after 300 years.

Do you look at your life planting mongo seeds or mango trees?

Growing mongo seeds is easy, that’s short-term thinking. You always live one day at a time, not thinking of the future. Your content to sell to a customer — whatever it takes — even though your actions entail disengagement that causes one-time transactions with no repeat business that follows. You try something new — a fad — then give up if it doesn’t work in a few months. You get into a relationship because you find that person attractive now; here’s the bad news, that person will grow old one day.

Planting mango trees is hard. 6 years is a long time for anyone. You have to take care of that tree with no guarantee that it will reach maturity. But at the 6-year mark, the mango tree starts producing mangoes for hundreds of years. Moreover, it can make mango juice, mango pie, dried mangoes, and all sorts of food products.

Does it take someone to be special to succeed? Nope. Think long-term and be patient. When you are in a relationship that eventually leads to marriage, grow that into a mango tree. When you are starting a small business or you’re starting out in a career, grow that into a mango tree. As you can see, this is applicable in almost anything.

Approach life with a mango tree mindset rather than a mongo seed mindset. Think of yourself as a mango farmer: plant mango seeds, cultivate, and keep tending the trees until they produce fruit. Some of those trees will last even after your lifetime.

06 Dec
Be Younique Blog, Business, Debt-Free

Should I continue my business?

A businessman just sent me a message asking if he should continue his struggling business. Here’s my reply, for the benefit of those who might have the same question.

1) Numbers don’t lie. Sometimes, just by looking at the numbers, we will know if we should continue a business or close it down. You can determine thru the numbers if your debt is still manageable.

2) Leverage. Borrowing money to sustain a business is sometimes necessary, but if your collateral is your house, then you may be overextending yourself.

3) Failure is not a person, it’s an event. Failure is not you. Sometimes its ok to quit. The old saying that “Winners never quit and quitters never win” is an adage that may sound nice, but is not true. Winners quit all the time. They just quit the right things. Statistics show that successful entrepreneurs have a failure rate of 3.8 times before they become successful.

4) Is your business still giving you peace of mind and heart? If it is from God, even though it is difficult and have many problems, there will be peace.

Options you can take:

1) Continue the business. Compute. Ask yourself: If I were to operate in the next 6 months, based on our profit and loss statement, how much income or loss will we incur?

2) Close the business. Sell the assets to pay off the liabilities. If your assets are not enough, then you should negotiate with your creditors. Bite the bullet now before your debt bloats from interest or other factors.

3) Look for a partner who will finance the business. You have to be transparent to them. You will lose total control of your business; which can be a good thing or a bad thing, depending on your partner.

4) Sell the business. Again, be transparent. You might be selling it at a possible loss. But better to get something from it than nothing at all.

In the midst of all of this, ask God to reveal to you what He wants to teach you. It is in these moments that we can hear from God the most. “Be still and know that He is God.”

One final thought. I’ve heard this from all business people who overcame insurmountable odds and made a comeback. They all said, “Matatapos din yan!” You will be stronger and wiser after all of this. And most importantly, you will be more dependent on God.

01 Dec
Be Younique Blog, Business

Honesty is the Best Policy

Honesty is the best policy. “Say what you do and do what you say.” I remember a friend, who retold a face-to-face close door meeting they had with John Maxwell. He said: “I don’t do what I preach, I preach what I do.”

In the book Millionaire Next Door by Thomas Stanley and William Danko, the authors made a survey of hundreds of millionaires in America…the real millionaires. They created a sophisticated system to assure the survey’s reliability. The result showed the top 20 main reasons how they became millionaires. Here’s the top five:

1) Honesty

2) Discipline

3) Social Skills

4) A Supportive Spouse

5) Hard Work 

Number one is Honesty. It’s Trustworthiness, Integrity, Character…whatever you want to call it…moral values is number one.

Integrity is not like grades in school. In school, if you fail in 1 subject, you can still pass if the other grades are high. But in life, if you fail in integrity, it is a pass/fail course.

How can you get promoted if your co-workers and boss doesn’t trust you? How can you start a business if you need more money and no one will help you get started? How can people trust you if you’re fooling around with another woman apart from your wife.

I heard this story of a businessman in the garments industry who refused to get stocks from a particular supplier. The supplier confronted the owner and asked him why he doesn’t want to do business with him even though his price is a lot cheaper than his current suppliers. The owner who was polite but was backed in a corner, had no choice but to reveal his reason. He said, I’m sorry to tell you this, but the reason why I don’t want to do business with you is because I don’t trust you. I found out that you have a mistress. How can I trust you if your own wife can’t?

Honesty, it’s not just for inspirational talks, it’s very practical.

28 Nov
Be Younique Blog, Business, Debt-Free

Sleep on It

To “Sleep on it” is a habit I developed when I want to buy something that is worth more than P3,000. I wait for a week before I decide. If one week is not enough, I “sleep on it” again and wait for a couple of weeks. If I forget about it, then it’s not really that important. But if I remember, I would realize that I don’t need that ‘thing’ in the first place. The urge to buy the object of my desire isn’t that strong anymore.

I wanted to buy a pair of Crocs when it first came out. This was at the time when we had a huge debt from our failed business venture. I didn’t tell anyone about it, not even my wife because I knew she would buy me one for a Christmas or birthday gift. I waited — and waited — and waited. I bought a pair of Crocs after a few years, on December 2010, the month we finish paying off all our business debts. I was so happy to buy myself a Crocs Christmas gift. The only problem? Crocs wasn’t that trendy anymore.

This is my first pair of Crocs. I still wear it often.

Recently, I bought a Philippe Charriol bracelet. A Charriol bracelet has sentimental value for me because I had one since high school. After more than a decade, it never looked old. I lost my bracelet while carrying a lot of stuff to our house. I didn’t notice it snapping off my wrist. Sadly, I never found it.

After all this time, I wanted to but another one. Even though I have the money to pay for it in cash, I slept on it. First, I went inside their Trinoma store with the intention of buying. After 10 minutes, I took a deep breath, and went out of the store. I slept on it for a few days. I went inside another Charriol store, this time in SM Megamall. After 10 minutes, I took a deep breath, and went out of the store. I slept on it for a few weeks. Every time I would pass a Charriol store, I didn’t go inside anymore, I just took a deep breath, and went on my way. After a few months, the desire wasn’t that strong anymore.

One day, when we went to Podium, I saw a Charriol store. I went inside just to test myself if my appetite to buy the bracelet was really gone. I looked at my darling once more. I held it again in my hands and asked the sales lady if they give discounts. The sales lady said only if the mall is on Sale. I replied, what a shame, if you give me a discount now I will buy one. She then consented, sir we will actually have a sale in a few days, but we can make an exception for you. We can give you the discount now at 15% off. I looked at my wife; she gave me a slight smirk, then a nod. I bought it! I saved around P2,000 on that transaction.

I used this approach when I bought my Crocs, TV, Charriol bracelet, cell phone, Xbox, car, etc. It is not just for impulse buying; it is also an effective way in making hard decisions. Another way of putting it is “To Delay Gratification,” but I like “Sleep on It” much better because it sounds a lot easier to do.

Remember: If you want to buy something, don’t buy it immediately. Take a deep breath and “SLEEP ON IT” =)

27 Nov
Be Younique Blog, Books, Business

Money makes us Stupid

In connection to the finance series of our church entitled Unlimited, a four-week series on finance, I will write my next blogs on personal finance.

Have you done anything stupid in your life that you regret? How about doing something stupid when it comes to money? If you are above thirteen years old, I’m sure you have.

I don’t think I am qualified to speak on personal finance if I will just base it on my prior successes; I believe my qualification comes from all my money failures. And I have a lot! Thinking back on my experiences, in reading books on money, and talking to financial consultants, one thing I realized is that:

Personal Finance is 80% Behavior and 20% Knowledge.

Finance guru Dave Ramsey coined this phrase. It means that when it comes to money, we are very emotional. As Dale Goleman, author of Emotional Intelligence says, EQ or Emotional Quotient is 24 times more powerful than IQ or Intellectual Quotient. We don’t think, we “Just Do It!” No wonder we do stupid things with our money – or worse – with other people’s money. “We make Dumb Decisions in Money Matters.”

We buy books we don’t read. (Gulity! I have almost a thousand books at home. I haven’t read more than half of them)

We drive 4 x 4 vehicles but we’ve never been to the mountains.

We have 4G cell phones yet most don’t even know how to use them; or don’t even know what “G” stands for. (Its Generation…now you know)

We wear diver’s watches that have never been wet.

I have a friend who bought a P40,000 juicer who used it once, several friends who bought ipads that are now kept away in their desk drawer, an acquaintance who have more than 100 pairs of shoes for his shoe collection; Oh!…that guy is having money problems…I wonder why.

I have a meeting this afternoon to help a businessman who invested millions to start a struggling cookware business without knowing anything much about it. I asked him why he put it up — his answer shocked me — I want to learn to be a better cook. 

Now you know the problem: people are wired to be stupid financially because we are emotional beings; so if you’ve done stupid things with money in the past, don’t feel bad…it’s normal – you’re normal! Now that you know, you can face the problem. The old joke that “You can’t face the problem if your problem is your face” may be funny, but in this case, you are the problem…yet for some, the problem really is their negative-looking face. Join me now, look in the mirror, and say it out loud…I am the problem! Until you change, your money problems will remain. 

How do you solve this problem? The answer – Focus on your behavior; not too much on what you know. Remember: Personal Finance is 80% Behavior and 20% Knowledge. How do you change your behavior? By changing your habits. Psychologists say it takes 21 days to form a habit. So for the next 21 days, change your money habits.

Lets explore how we can do that. In the next few days, I will share some practical money habits that can help change your behavior and hopefully provide favorable results.

20 Nov
Be Younique Blog, Business, Debt-Free

Contentment: The Recipe to Happiness

Victory’s series on finances entitled UNLIMITED has been received very well. Church attendees are inviting their family and friends to know more about what God has to say about money. 

Last Sunday was the second week where we addressed the situation of the widow and Elijah on 1 Kings 17:7-16. It showed how desperate times could lead us to hopelessness. Sometimes it is of our own doing; other times, it may have been caused by others.

In my preaching, I recalled a segment I heard in a radio station on excuses you made but was actually your fault. It was trending on Twitter with hashtag #itwasmyfault. Someone said: I don’t have money because I bought a new 40-inch TV…it was my fault. After the sermon, a lady in her fifties approached me. She said that her husband was crying in my preaching, and just that week, her husband bought a new TV set that they don’t really need. She mentioned they are having money problems now.

I remember the time when we bought a TV set after paying off all our business debts. We went to Robinsons Galleria to do some errands. On our way to the elevator, we saw the 4-letter word that causes our body temperature to rise at inexorable levels…especially for women — SALE!

There it was, a 40 inch TV with a 50% off tag. A 40 inch TV that time was around P60,000. The price of the TV on sale was P27,000 because the box was damaged.

We thought about it for a while. We were there at 2:00pm. The mall was about to close at 9:00pm, when at 8:55pm, we decided to buy it. But we did it because we had cash on hand and we can afford buying it without ruining our budget. As I write this blog, the TV we bought is beside the table I’m writing on. I look at it now and I’m thinking, I don’t need stuff to make me happy. But even if I have it, I won’t get attached to it. Its just stuff. 

If your life is consumed by acquiring stuff, fear not…Contentment is a virtue you can learn.

In Philippians 4:12 I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want. 

The only way for you to be happy is to be happy now. Appreciate the blessings of God today so you can be thankful of His blessings tomorrow. 

05 Nov
Be Younique Blog, Business, Debt-Free

Finance Series: Unlimited

Our church, Victory, runs a series on finances every November. This year, the title of the series is called Unlimited! This is my favorite of all the series we run because I am a living testimony of God’s goodness and favor.

Small Group Discussion: Rich For Life

From losing a staggering P10 million with some partners, and incurring an additional P2.5 million debt, I was able to pay all my business debts in 2 years. Was it mere luck? Nope. Was it pure coincidence? Nope. Was it planned? Nope. It’s the hand of God that moved. When you’re out of solutions, God becomes your solution. You start to pray more if you can’t find answers anymore.

Before you do anything, ask for God’s favor first. Honor him with the first fruits of your wealth. Honor him by giving and by not being attached to money. Infact, you can still be generous even though you are in debt.

The primary challenge is: Can you give even though it hurts? I mean, how can you give what you don’t have? I love what author Mark Batterson said when reasoning with God: If you win the argument you actually lose, and if you lose the argument, you actually win.

Honestly, I have been a giver for more than a decade, but up until today, giving sometimes still hurts for me. When that happens, I go back to God and trust him, then the “ouch” of giving disappears.

The biblical principle “You reap what you sow” is unchanging…whether in good times or bad times. I don’t expect anything in return when I give, but God has placed an invisible force when we do give…somehow it goes back to you. It may not be in the form of money, but rest assured, it does.

If you give for the right reasons and with the right motive: You will never outgive God.

The finance series UNLIMITED starts Nov 11-Dec 2 in all Victory Churches! Invite your family and friends to have a Financial Breakthrough!

10 Oct
Be Younique Blog, Business

Sales is an Honorable Profession

I’ll be leaving in the afternoon to Vigan Ilocos (7-hour drive) until tomorrow to conduct a training for Philamlife called “The Art of Selling.” 

I’ve also been involved in sales and marketing for 10 years before I left to focus on a start-up restaurant business. Even though I’m not affiliated with any company anymore for the past 6 years, I continue to love salespeople and networkers. 

Although they are some of the most misunderstood groups because of our negative connotation towards selling, sales is an honorable profession; and very lucrative as well to those who will work and commit to it. I know how hard they have to work despite the rejection that comes along with selling. 

Its interesting whenever I get a chance to interview the best of the best from different sales and networking companies, the top guys will always tell you they are not doing it for the money…they are in sales because of their love for their families. They searched for a way to provide the needs of their family; but in return, thru a sales career opportunity, they were also able to provide the wants and dreams that their family desires. They discovered that sales is the vehicle they can use to achieve financial freedom.

The vehicles we use towards success may be different from each other. Do remember that a career in sales or network marketing can be a vehicle you can ride to reach your dreams in life. There’s no harm in trying.