RichMan Millionaire 2010

By: BO SANCHEZ

From now on, you have to think like an Entrepreneur.

I can hear you saying,  “But Bo, I’m an Employee!” 

And you’re right.  You may be an Employee in a bankor a call centeror the corner bakery down the street.  But your entire world is changing.  Even if you’re working for someone else, you still have to think like an Entrepreneur.

Think this way.  If your name is Rudolph Reyes, then you’re the Chairman of the Board of Rudolph Reyes Personal Services Inc.

Why the shift?

Because I’ve met so many people who are miserable in their jobs and all they do is complain the whole day about their crummy boss and their crummy salary and their crummy company.

                Listen.

                Complaining accomplishes nothing.

                Complaining is useless.

                In the time of Moses, the Complainers got stuck in the desert for 40 years.   They never set one foot on the Promised Land.

                Instead of complaining, take charge!

                God made you responsible for your career.

                Unless you take responsibility, nothing happens.

               

Times Are Changing—Adapt Or Die

 

                My Dad worked for the old San Miguel Corporation for 37 years. 

During his prehistoric era, companies were large benevolent, loyal, doting families.  The Owner was like Papa and all his employees were his kids for life.  And people coasted along.

Let me give you an example.  When Dad retired at the age of 65 as Assistant Vice President, the company gave him 100% health benefits until his dying breath.  Can you imagine?   Until he died at the age of 88, San Miguel paid for all of his medicines and hospital bills—which totaled to millions. 

Question: Do you think San Miguel still does that sort of thing?

                No way.  They threw that policy away in the 80’s.  In fact, no other company does that anymore.

                I’m not pontificating or telling you what is right or wrong.  I’m merely describing to you the very different world that you and I are living in today.

You live in a world where companies hire contractuals every 6 months and replace them again with a new batch.  (I repeat.  I’m not saying it’s right.  I personally don’t like it.  But that’s just how the world is operating right now.)

You live in a world where companies are shrinking via outsourcing.  Your entire department can be axed tomorrow and the work given to companies in China or India or Davao or Cebu.

You live in a world where companies are bought or merged with other companies the way your sister changes her shoes.  Every time it happens, you get (1) bumped up, (2) bumped down, or unfortunately, (3) bumped out.

               

In other words, you’re living in a world where only Entrepreneurs survive.

 

How Do You Think?

Like An Employee or An Entrepreneur?

 

Find out if you think like an Employee or an Entrepreneur.

If you think like an Entrepreneur, you just don’t understand what you do. 

You understand why you do what you do. 

Even if you’re just a messenger.  You’re thinking of how to increase profits and lower down costs.  You’re thinking of how to wow the customer and keep him for life.

Here are three examples of Employee Thinking:

 

“My salary is so small, its just enough for my daily transportation and lunch!  I’ve been stuck in my position since Lapu-Lapu killed Magellan.”

 

Then why are you still working there? 

Don’t say you have nowhere to go.  When you say that, it becomes a reality for you. 

Hey, I’m not asking you to resign.  I’m asking you to look for a solution.  Take responsibility.  Make things happen!

Let me introduce you to a few options of the Entrepreneurial Mind…

 

Option #1: Get more training and get promoted

Option #2: Look for another job within the company where there’s more growth

Option #3: Become a Supplier to your company (My favorite!  Look at what your company needs and create a business by supplying this product to them.)

Option #4: Keep your day job and start a business on the side

Option #5: Look for another job at another company

 

The choices are endless!

 

2. “My company is Prehistoric.  It hasn’t developed me.  I don’t receive any training!”

 

This is classic Employee thinking: They wait for their HR Department to tell them to attend seminars, arrange training programs, and supply them with books to read.

But Entrepreneurs take charge for their personal development.  They keep reading.  They keep learning.  They keep innovating.  They attend internet courses, correspondence courses, and night classes.  They get the best mentors they can find.  Because Entrepreneurs know that if they don’t innovate, they’ll become obsolete one day.

Question: This year, what have you been doing to develop yourself?

 

3. “Me, save?  Nah.  My company will give me a nice retirement package…”

 

Readers of my blog are young.  Average age is 30.  (Perhaps because the writer looks 30.  Haha!)  So talking about retirement seems strange, right?

        Wrong.

        Believe me, even if you’re 16, you should start building your retirement.

Here’s my harsh message: Don’t depend on your company to give you a retirement package.  Even if they will give you one, trust me, it won’t be enough.

As I told you, my father retired at 65 and died at 88.  That meant he lived for another 23 years.  Do you think your one or two or three million will last for 23 years?

Don’t count on it.   Perhaps three years.  Perhaps five, tops.  After that, you’ll be poor as a rat.

        I urge you to take charge for your financial future.  How?  Build a separate retirement package on your own!

        Here’s what you do.  Starting today, set aside 20% of your income every month.

Next: Invest it.  Don’t put it in the Bank.  Learn how to use Bonds, Mutual Funds, Equity Funds, and Stocks.  It’s not as difficult as you think it is.  Grow!

 

Friend, be an Entrepreneur.

                No matter what you do.

                Take charge.

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