Awaken the Entrepreneur Inside of You

Not all of us have the drive to be an entrepreneur; many are contented of just being an employee and expecting that the company or your boss will provide a good retirement for you and/or that the government will support you very well when the time comes since you have diligently contributed to the government social welfare programs.

But is that enough assurance for you? With the current population (In the UK-62M; Spain- 46M & PHILS-95M, these are 2011 estimate) and the increasing life span of people plus the demands for various benefits from the government.

Can you really rely your retirement to the government benefits? And in your job, where there is no guarantee with the ever changing economic condition in the countries today. Even if you made it through having both until your retirement age, let me ask you this would it be adequate to sustain your daily needs after your retirement age (which normally around 65) without considering any unforeseen circumstances that may occur? And your life span as according to studies could reach to 80 years old or more plus the inflation rate of our basic necessities in life.

Just think about it one moment, how do you want to live your life after your retirement? Do you want just to get by and hope no major crisis could come into your life or a feeling of financial freedom that whatever happens you know you are prepared and ready and you would not be a burden to others especially to your love ones? It’s time to act now and find ways to have multiple sources for your retirement.

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I am not saying you quit your job or stop contributing to the government, but it’s best to have alternatives all the time and prepare for your future as you never know what may happen. As Jim Rohn had said “Keep your day job, and start a business on the side”

I am sure you are aware that the rich and successful people have their own businesses or investments as they believe in the higher potential gain from it. And not only one business but they have put in on different investment vehicles such as going into other businesses, investing on mutual funds, insurance, stocks investments and more. So if you want a life of financial abundance, you must study and learn how those people manage to have and keep it.

It’s similar to losing weight, you learn the diet and exercise habits of fit people that you know and try to imitate them to get the results that you want for yourself, right? So, it starts from that, remember that you grow from learning, and then act on it! Persistent and committed application is necessary to get the results you want.

As Jack Canfield says, “If you want different results, you have to do something different. Such a simple statement, but one we often forget. Try new things, take new actions, and take risks!”

Take out that idea that the rich people were born rich and that they are the only ones that will always be rich. According to studies in the US, more than 80% of the deca-millionaires (people with a net worth of $10 million or more, based on the study conducted by Dr. Thomas Stanley from his book The Millionaire Next Door) are first generation millionaires meaning to say they built their wealth from nothing. They just devoted themselves to planning and acting on their goals in order to achieve the life that they want.

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And take note that it’s not about their technical skills and knowledge. In a recent study conducted in Harvard University about the factors that contributed to the person’s success; they found out that only 15% is due to technical skills and knowledge while 85% comes from the person’s attitude, personal skills, enthusiasm, self-discipline, desire and ambition (learned this from Dave Ramsey) See how important it is to have clear goals in life and how your attitude towards it can entirely affect the fulfillment of your goals.

A real life example of this is a friend of mine and we both went to high school together. And I am so happy and proud of her on what she was able to achieve. You can watch her video below where she was featured in one of TV shows (Kabuhayang Swak) in the Philippines. It was broadcast during 2008, but she started way back 2001. It took her 7 years to get where she wanted to be and as of today she still keeps on improving and going into other businesses. The video is in tagalog, but for my foreign readers the best part of what they mentioned are these:

After showing what she has achieved from her businesses, the commentator said “this is when she proved that it is really fulfilling to be the boss or owner of a business and whenever you fail, you have to get up and just start again”

And from Joy Esguerra: ” What I can advise to them is they have to love what they are doing, and if they are working now and even if they are earning very small, they have to still try to save a little amount no matter how small it is and the money you save up can grow big. Then, you can use it to start a small business.”

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I hope this article and the video have awakened the entrepreneur inside of you. Remember it all starts from taking that first step to take a risk like what Joy did, she started going into a couple of businesses since 1998, although her first venture failed she kept on trying.

Reach for your dreams,

Mye