The Pinoy Entrepreneur

In his book "Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth", Robert Allen, discussed the importance of generating residual income.  Residual income (also know as passive or recurring income) is defined as income that you continually receive or generate even after the initial efforts have been expended.  In order not to confuse this with the other definition that states that residual income is the income an individual has after all expenses and debts have been settled, I'd like to use the terms "passive income" or "recurring income" instead. 

Passive income definitely qualifies as smart money.  It is income that you generate without requiring much of your time or presence.  In the book, Robert Allen discussed three major markets where in you can get this kind of income.  And he said that all these can be achieved on a part-time basis, working right from your own home, using little or none of your own money, or with few or no employees.

THE THREE GREAT MONEY MOUNTAINS

Infopreneurship is about selling information.  There's a lot of information available for everyone to use but not every information is packaged properly.  Your goal should be to sell information that everyone want to know about and package it properly so you can sell it.  This has become a tremendous hit in recent years because more people value their TIME.  We want information we can use and we want it fast.  Most common practices are to publish books and e-books and sell them in the market.

Network marketing is also referred to as Relationship marketing.  Most common these days is probably what people refer to as Affiliate marketing.  In affiliate marketing, the company selling the actual product pays you for customers that you bring or introduce to them.

Harnessing the internet as a tool to generate residual income is also one of the Robert Allen's advocacies.   The internet has revolutionized marketing and selling by lowering cost.  It is also available 24 hours a day without needing much care and maintenance.  It is a powerful technology that one must harness.  To be successful in it, he recommends automating everything and marketing or advertising to generate traffic.

MONEY WHILE YOU SLEEP

Robert Allen highlights the importance of investing in each money mountain and generating several income streams from each mountain.  Although this sounds simple enough, he also forewarns that while there are hundreds of separate moneymaking techniques and formulas for each money mountain, it can possibly take years to learn and master them.  In short, this is not quick money.  You still will have to put in your time and effort to make this work.  But the good thing about these income sources is the fact that after you've put in the initial effort, money can start coming in even when you are sleeping.

Let us all learn from this and apply it in our lives to generate multiple streams of income. I truly believe that this is one way where we can become successful entrepreneurs not only in regards to generating income and wealth but also allowing us more free time to spend it where it matters more.(^o^)/

Trading is a universal business.  Any where you go there will always be people wanting to buy or sell products or services.  This happens because no individual can do everything on his own and thus people tend to specialize on what they know, what they're good at.  So therefore they exchange their products (items or services) with that of another's.    It's been there ever since man existed.  And believe it or not, a lot of businessmen actually still make a living by simply trading.  

In this commentary by Ernesto M. Ordonez at the inquirer, he stated that there is money in worms.  He stressed that worms provide wealth "both in terms of providing us cash and restoring our ecological balance."

During this week's transport strike (Davao City), the city government deployed around 10 electric tricycles to give free rides to stranded commuters.  I thought electric cars would only be possible 4 to 5 years from now, but technology seems to be catching up fast and electric tricycles are already at play. 

Next in line are electric jeepneys!  Although I haven't seen any type roaming the streets of the Philippines, for sure, soon models will be coming out as well.  My only concern is how we can preserve the iconic traditional SARAO jeepneys!  And what is to happen to our very own SARAO Motors.  I have attached pictures of possible layout of the electric jeepney with this post.  Would you consider riding one?

Owning your own fleet of taxi cabs or electric jeepneys, for this matter, can be a great start up business.  Especially if you can enter the market first and start even just a small business at first.

It's ABOUT TIME!

Journey with me as I start my own business and take you through the articles in the book entitled "The Ultimate Guide to Starting Your Own Business" by Entrepreneur Philippines.

Let's start our businesses together!

Ever wonder why people selling home-baked goodies multiply during the Christmas season? For obvious reasons, you might say that it's because a lot more people order baked goodies during the holiday season. However, have you any idea how much the potential market is? Read on to find out.

At the start of the "Ber" months (September - December), which unofficially marks the start of the Christmas season here in the Philippines, I started experimenting with baking brownies and asked our secretary to peddle them to bank tellers and store personnels. The response was overwhelming. A set, which is around 50 pieces of brownies, would sell out in just an hour! Clearly there was a demand in the market.

And so I continued selling them, positioning myself in this market segment for the December orders. Thankfully, a lot did order their holiday goodies from me. All in all, in just a span of 10 days, I was able to sell around 1,500 pieces of brownies (in different box sizes). In pesos, that amounted to around 10,000 pesos! That's like earning 1,000 pesos a day for just a few hours of work each day. Wow!

I wouldn't say though that it was the easiest 10,000 I've made in 10 days. I've earned more in even fewer days. I will share these stories in my upcoming posts. However, with this venture, what I liked most about it was that I didn't have to shell out any money for the ingredients! What I did was use my credit card for the ingredients purchase. I was successfully able to use credit in order to generate income! So when January came and my credit card bill arrived, I had more than enough money to pay for it.

With this business also, not only do you earn, but you also get to enjoy the compliments from your customers. It always feels good to know that you made someone happy. (^o^)v I think I will continue doing this business. Who knows? A lot of dessert shops doing good right now actually started from their homes as well.

In this episode of Go Negosyo Big Time, hosts Chal and Eco take us into the Photography and Videography business.

Here's an article I found at the Technology Resource Center Site about small businesses that do not need that much capital to start but have enormous potential.  The article is quite old but I think the concepts still apply.