Market Value Of BTO Flat (to be built in 2016/2017)
$750,000.00
$750,000.00
$0.00
Total Assets
$820,393.53
$821,606.36
$1,212.83
0.15
Liabilities
Home Loan
$617,500
$617,500
$0.00
0.00
Net Worth (including flat to be built in 2016/2017)
$202,893.53
$204,106.36
$1,212.83
0.60
Investible Net Worth
$70,393.53
$71,606.36
$1,212.83
1.72
Highlights
Net worth increased by 1.72% (lower than expected) due to the correction in the markets. Decrease in paper gain of portfolio offset the increase of $2,465 in cash/cash equivalents.
Cash/Cash Equivalents now constitute 62% of my investible net worth
The government GST voucher and Singpost dividends will contribute to my net worth in July 2013 (next month)
Plummeting of gold price pulled down the NAV of Schroders Commodity Fund as gold futures are one of the main components of the fund
There are many famous Gurus in the financial market, and their philosophies are pretty well accepted by their followers (subscribers).
Take for examples: 1. Jim Rogers is the icon represents long term investment in the commodities market.
2 2. Marc Faber, also known as Dr. Doom, advocates that the market is collapsing, collapsing, and collapsing...
3. 3. Stephen Leeb is using the "Peak Oil" as a backgroud and focus on Energy Sector.
4. 4. Peter Schiff is singing about the collapsing US Dollar and Accumulates physical gold or GLD (ETFs).
. And, when they are correct, they will occupy everywhere in the media and get more followers.
Now... As shown in the charts, they were ALL CORRECT at certain point of time in a "Rotational Manner".
So... Don't you think that having a "market neutral mentality", doing your study, understand and follow the market actions with the charts, and perform asset class rotation is a better deal?
Now... See what the successful Trader and Trainer in the Stock Market, Richard D. Wyckoff, had to say:
Very true! In my view, most of the publication on financial advices and news are just like Coke or genetic modified foods. They are are produced for the public consumption with the intention of making a profits out of it. The earlier one chooses to stop taking them, the earlier he gets healthier.
Confession of a Salesman "New Business Owners Can Delegate Everything Else Except Marketing"
By Bo Sanchez
I’m a salesman. There, I said it. That’s VERY difficult to blurt out. Because “salesman” is a curse word in some sectors of society. In the Top 10 list of Most Shameful Professions in the World, “salesman” is next to “prostitute”. Which is very sad. For more than 30 years, I’ve been a missionary.
salesperson
And a missionary is a Salesman for God. So for decades, I’ve had great practice. And I found it very easy to “sell” God. Because there was no self interest. Once people “bought” my fantastic “product”, the customer just thanks me. I didn’t get paid.
But when I became an entrepreneur (selling herbal products), the money part of the transaction gave me the creeps. I was going to get paid! And so I was imagining that each of my customers was asking (silently), “Hmm, do you REALLY love me or do you just want to earn a quick buck?”
At the TrulyRichClub, I’m teaching you now that your answer to your customer SHOULD always be, “I love you. I really do. And yes, I will earn a buck in this transaction. So that I can feed my family, tithe to the ministry, and give to the poor. And a part of the buck I earn will still serve you, because it will go to developing better products that will serve you more (Also called R&D or Research and Development).”
Selling SHOULD Be Your Number #1 Skill!
When I think about it, 99 percent of all the successful entrepreneurs I know are fantastic sales people. They sell day in and day out. Before they are manufacturers, or inventors, or artists, or accountants, or managers— they are SALES PEOPLE first and foremost!
Years ago, I still had time to say “yes” to schools who invited me to be their graduation speaker. After the event, when those young, wet-behind-the-ears, fresh college grads (still wearing their togas) tell me they want to be entrepreneurs, I always tell them, “Get a sales job first! Even just for a year.” When they hear that, they wince. Some of them are revolted by the idea.
But that’s how I started as an entrepreneur. My one-year experience selling herbal products for an MLM company made me learn the psychology of selling products. I’ve moved out of that business a long time ago, but I’m VERY grateful for the experience of selling house-to-house, face-to-face, and belly to-belly. Today, my salesletters are DYNAMITE because I learned how to sell person-to-person.
Great Entrepreneurship Sell, Sell, Sell!
Especially if your business is brand new, you can delegate everything else—but NOT marketing. If you’re the CEO, you should be the Number One Sales Person in your company. (Businesses that collapse because of lack of sales simply means the business owner didn’t know how to sell. Which is a CAPITAL SIN in Entrepreneurship. If you want to become an entrepreneur, you’ve got to be a sales person!)
I like what Marketing Guru Dan Kennedy said: “Frankly, if you have emotional hang-ups about sales and marketing, don’t ‘like’ it, are convinced you aren’t good at it, and refuse to hunker down and get good at it, I just don’t have much hope for you when it comes to wealth attraction.”
In other words, you’ve got to be…
Will You be Ashamed Or Will You Be Shameless?
I’m not only a salesman. I’m a Shameless Promoter. My critics call me such. Why? They complain that I’m always selling stuff to people. In almost every email I send, I’m peddling something.
Today, it’s a health seminar. Tomorrow, it’s a book. The next day, it’s an opportunity to donate to a ministry. The following day, an invitation to join the TrulyRichClub. Etcetera.
Yes, I’m shameless. REASON: Because I will never be ashamed of HELPING PEOPLE. I sell my GREAT PRODUCTS. My products will bless my customers, elevate their lives, and transform their destinies! My gosh.
Why in the world will I be ashamed of that? In fact, it’s the other way around: I should be ASHAMED of myself if I don’t use all my guns to sell my great products to my customers. Shame on me for being so selfish and lazy—if I know that my products will bless them—massively!
Be Shameless by not Being Shameless
Actually, I’m not talking about being shamelessly loud, pushy, and obnoxious. That’s NOT what I mean. (I’m not like that.) By shameless, I mean “quietly persistent” in selling—no matter how many rejections you get.
That’s the story of Mark Victory Hansen and Jack Canfield, creators of the book, Chicken Soup for the Soul. Oh, these two are INCURABLE shameless self-promoters.
After they put together their book, Chicken Soup for the Soul, they went to New York to look for a publisher. But in that city, they were rejected by 33 publishers. Finally, their agent said,
“Sorry, but this book isn’t going to sell.” But the two partners never gave up. They went to California with backpacks full of manuscripts of their book to look for a publisher there. But it happened there again—they were turned down by 134 publishers!
But talk about being shameless. They still never gave up! One day, a little publisher read their manuscript and agreed to publish their book. The two authors asked 100 friends to sell 100 copies of the book—so they could sell their first 10,000 copies. And they promised to do five things EVERY DAY to promote the book.
Result? In 18 months, Chicken Soup for the Soul became a bestseller. Today, 19 years later, they have sold $2 billion for the entire series plus merchandise. So far, they’ve sold 112 million copies of all their books.
Big Question for Today
Do you want your business to be very profitable this year? Then let me ask you this question: Who is your MAIN SALES PERSON? Who is the guy that gets the best clients? Who is the guy that nails the biggest orders? Who is the guy that seals the longest-term contracts?
If you’re the OWNER of the business, and your business is NEW, then I hope the answer to that question is the good lookin’ guy or gal you see in the bathroom mirror every morning.
Promote Yourself or Your Product DAILY Hang this sign on your wall: “Do something every day to promote yourself.” It’s so easy to forget this very important job when the accounting books need to be balanced, and when the computer needs to be repaired, and the packages need to be sent, and the… oh, you get the point.
Let me give you 4 “Shameless” Marketing Projects…
Marketing Project 1:
Write 6 to 12 Special Specific Offers for the Year
discount
Think in terms of seasonal “Campaigns” or “Offers” where you focus on one product in your business. Why do this? Promoting a specific product is better than promoting your entire business.
Schedule these Special Specific Offers one for every month or every two months of the year. It could be a discount or a free gift for every purchase. For each Special Offer, write a leaflet or letter. Always put urgency—either through a limited time or a limited number of products available. Because people are busy.
Even if they want your product, they’ll forget about it five minutes later. Once you have the leaflet or letter, you can distribute it by (1) mailing the leaflet to every existing customer, and ask them (nicely) to give it to their friends; (2) delivering the leaflet to offices or homes around your business; (3) Handing it out in your store; (4) and any envelop that leaves your office SHOULD have the leaflet inside; (5) post it on Facebook and email it; Be a non-stop promoter!
Marketing Project 2:
Get Free Print Publicity
Editors of newspapers and magazines are always on the lookout for good “human interest”. Next: Write a double-spaced, one page article about yourself and what you do. (If you don’t know how to write, hire a writer to do this for you.)
It’s best that it’s connected to a holiday or event, such as Valentines, Holy Week, Graduation, Summer, Christmas, etc… For example, if the article is connected to Valentines, on the right hand corner of that one page article, write the line, “To be used before Valentines Day.”
It’s so much better if you know someone inside the newsroom or editorial offices. Get to know the editors, and connect with them through friends and acquaintances. When you submit your article to their office, give them a sample of your product or a voucher of your product.
Marketing Project 3:
Guest in Radio and TV
Do the same for other media. Give your actual product or a product voucher (or a nice gift) to all radio hosts in every radio station around your city; And do the same for all TV hosts, directors, scriptwriters, production heads you know. With your product and product voucher, write a short letter telling them that just in case they need an expert on your topic of expertise, you’re willing to guest in their show.
The more interesting your character and story is, the higher chances you have for getting invited as a guest. To do this more effectively, read the next project below…
Marketing Project 4:
Create Your Own Book!
This is why I believe every entrepreneur should create an authored book. Between an entrepreneur who has written a book and another entrepreneur who hasn’t written a book—guess who will get invited in radio and TV?
If you have authored your own book, send it to the radio host or TV host or newspaper editor. In their minds, you’ll stand out. You’re not ordinary entrepreneur, you’re an expert entrepreneur.
The October month was quite hectic. There was the Cebu Youth Summit, Dos Palmas Wealth Circle, AFFI convention, AIM Alumni Board meeting, Shell Club 15 Retirees event, and, of course, my 55th birthday celebration.
Adding to my activity was my youngest son creating a Facebook account that I now regularly visit to check, add friends, post pictures, reply with quick messages and upload nuggets of business wisdom for long-time and new friends.
During the Dos Palmas event of the Wealth Circle, Bro. Bo invited me to specially write a newsletter for existing entrepreneurs who would either like to grow or harvest their business or would want to extend their business legacy to the next generation.
After my plenary talk during the 11th AFFI Convention (Galing ng Pinoy) held at World Trade Center, a couple took the opportunity to consult with me regarding their business.
“Dean Pax, we are in the garments/sports apparel business and we would like you to help us in our problem. We would like to find out if we could franchise this business to eventually grow what we started,” they said.
I was excited because I could see the passion in the eyes of the business couple. I was also excited that early in their business life, they want to strategize for growth. Innocently I asked a simple question, “How long have you had the apparel business?”
To my surprise, they have been running it for the past 10 years! Wow, I now understand their PROBLEM. They have not grown beyond infancy and the business was coming into infant mortality because of Chinese apparel competition.
In my entrep lectures, I tell the audience that business has five rings:
ring
1.Courting the idea= engagement ring
2.Initiating the idea into business = wedding ring
3.Into the early stages of the business = suffering
4.Coping with the struggles = enduring
5.Coming into prime of the business = God’s offering
Why Some Businesses Do Not Grow Despite Their Operational Age
The coming into prime of any business is not a function of the number of years of business existence. I have seen many businesses that are 10-15 years old but have not gone beyond the activities at start-up. This is especially true for family ventures where the founder-entrepreneur has not given up control of his ‘baby’. Or the founder has stopped being entrepreneurial for fear of failure or added responsibility.
Let me tell you first a story:
Once upon a time, there were two hunters who went for a safari in South Africa. As they were resting under a banyan tree after a long hunting day, they saw a lion approaching them with its wild roar. One of the hunters started putting on his running shoes. “Hey, you cannot outrun the lion, said the other hunter.
I’m nottrying to outrun the lion,” the first hunter replied. “All I need to do is outrun you!” Let me quote from Charles Darwin: “It is not the strongest of the species that survive, or the most intelligent, but the one most responsive to change.”
(Forgive me, I’m now in the Dean Mode as I share with you a short portion from my PhD core paper about change.)
Internal and External Pressures That Change a Business
Businesses become altered or different in one way or another due to forces from the environment or forces from within the organization. Some external pressures can be: 1) technology and the Internet, 2) global economy and diminishing boundaries to trade, 3) demanding consumers, 4) climate change, 5) knowledge economy, and 6) increasing emphasis on employee diversity, mobility, and work-life balance.
Internally, organizations face pressures from: 1) increased costs of production and marketing, 2) diminishing profitability/shareholder return, 3) competition for the right resources (human resources and operational), 4) new and radical competition, 5) government and regulations, and 6) new technologies.
The challenge for any business is to be able to balance and address these internal and external forces in a manner that allows the organization to survive and grow. Some ventures are just in the survival mode, hence still in start-up mode despite more than 10 years in operation (just like the apparel couple).
As entrepreneurs, we need to manage change within our respective organizations and the market that we choose to compete in. Change can be seen as either problems or opportunities. This is similar to the Chinese character of CRISIS = wei-chi/ wei-ji ( wei= danger/fear, jihui= opportunity.) Changes within your macro (country, region) and micro environment (industry) plus within your business organization give rise to problems and/or opportunities.
As long as you are living, there is change; as long as there is change, there will be problems and opportunities!
When Does Change Happen?
Change occurs when this balance is disrupted. There are two ways that the status quo can be disrupted — through positive change or negative change:
When entrepreneurs (intrapreneurs is my term for company executives) believe their capabilities exceed a challenge, they generally feel positive because the outcome is not only desirable but expected (just like in a wife’s pregnancy.) We are attracted to situations that are familiar to us because they allow us the feeling of being in control.
When the opposite is true, people feel negative not only because the outcome is undesirable, but also because it lacks predictability. We feel uncomfortable when facing situations filled with the unknown because of the loss of predictability.
Time to Work on Your Business
Scan the CHANGE QUESTIONS to determine the CURRENT STATE of your business (Full excerpts from ‘New Venture Creation’ 4th Ed J.A.Timmons, Irwin Publisher p.577-78)
Start-up and Survival (typical 0-3 yrs.)
- Are the founders vying for the decision role (lead) or insist on equality in all decisions among partners?
- Is the company a one-product company with no encore in sight?
*(OD stands for Organizational Development, Environ=Environment)
- Is the company facing a ‘cash crunch’ early as a result of not having a business plan/financial plan?- Are the economic benefits and payback being achieved on time? (Two critical questions)
- Are founders preparing for managing rather than doing?
Early Growth (typical 4-10 yrs.)
- Have the owners begun to delegate and let go of critical decisions or do they still maintain veto power?
- Is the mindset still operational (managing same product with same customers) or has It shifted to being strategic (new products into new territories, new platforms or alliances)?
- Are gross margins beginning to erode?
- Are the accounting systems and information systems keeping pace with growth or being there when they need it for strategic decisions?
Harvest/Stability (typical 15 plus yrs.)
- Are mechanisms in place to provide for management succession (especially for family business)?
- Have the partners’ personal and financial goals and priorities begun to conflict and diverge?
- Has there been an erosion of the passion for creating value through recognition and pursuit of opportunity?
- Is there a spirit of innovation and renewal in the firm?
- Has the core economics and durability of the opportunity eroded?
Final Word
YES, business has its seasons, like our lives. You need to treat your business as a living organism and manage the change in order to grow.
Business has its springtime, when we begin new ideas and look excitedly toward the venture’s future. Summer comes and we work diligently in the heat of business that we have established.
With autumn comes the result of hard work begun at an earlier time in our business life. Winter brings an end in the form of harvest or closure. If we remain faithful to our calling as entrepreneurs then even after harvest or closure, another spring is around the corner.
“To everything there is a season, a time for every purpose under heaven” (Ecclesiastes 3:1). May God always prosper you, your families and especially your business!
What Should You Do When Your Dreams Are bigger Than Your Resources?
by Bo Sanchez
Are your dreams bigger than your resources? Do you dream of buying a car? But your resources can only buy a skateboard? Do you dream of going to San Francisco? But your resources can only bring you to San Francisco, Del Monte? Do you dream of becoming an NBA player? But you’re a short guy.
Your resources can only make you a NJA player (The National Jackstone Association). When your dream is bigger than your resources, you have two options…
Option 1: You could adjust your dream to match your resources.
Option 2: You could adjust your resources to match your dream.
How will you know which option to choose?
The “Be poor, be small, be quiet, don’t-be-seen-or-heard, be humble” preachers will tell you to ALWAYS choose Option 1. “Lower your dreams!” they will tell you, “Shucks, don’t even dream! Just accept what happens as your fate.”
On the other extreme, the Positive Thinking movement, Prosperity Gospel preachers, and Ra-ra-ra motivational speakers will tell you to ALWAYS choose Option 2. “Don’t ever lower your dreams! Go for it!”
You probably think that I lean towards this, and you’re absolutely right, but I balance this emphasis with a huge dose of DISCERNMENT. This is the key to know which option to choose. After years of working on my dreams, I’ve noticed that my dreams can come from two sources. They can come from my Purpose. Or they can come from my Pride.
Here’s the deciding issue: If my dream comes from Pride, I take Option 1—I adjust my dream to match my resources; if my dream comes from my purpose, I take Option 2—I adjust my resources to match my dream.
Let me explain…
1. If Your Dream Comes from Pride
One day, I was with a friend. I was shocked to find out he wanted to buy a P12 million condo. “But you already own a nice condo…” I told him. It was true. He was living in a lovely 2 bedroom condo worth P4.5 million.
Like everyone else, he was paying the monthly amortization, sometimes with great difficulty. “Yes, it’s nice. But I want something bigger.” “But can you afford the monthly payments?” I asked.
“Well… uh, right now, it’s gonna be a stretch,” he said, “But I know myself. I work best under pressure. I don’t work as hard unless I’ve got big debts hanging over my head like a giant axe, ready to slice off my head. I know that if I buy that P12 million condo, it’ll pressure me to find a way to increase my income. Besides, isn’t this what you teach? That God will provide?”
I cringed when I heard him say, “God will provide”. Let me tell you why: Because I knew the man in front of me. I knew his story. I knew that he was under a mountain of debt that he hasn’t been able to pay on time. Collectors were hounding him. I also knew that this desperate need for expensive trappings was only an anesthesia for a deep childhood wound. He wants the symbols of big success on the outside because he feels like a big failure on the inside.
I knew that if there’s one thing that God wants to provide him, it wasn’t material things but inner healing…
My Beautiful Little Palace
Please don’t get me wrong. God wants us to have some material things. Let me shock you: I believe God provides for our needs and, surprisingly, even for our “silly” wants. It’s okay to have wants.
It’s okay to dream for better stuff. But always ask yourself, “Where does this dream come from? Does it come from pride or purpose?”
To this day, my wife and I live in a tiny house. And we love it. My favorite mother-in-law gave us an 80-square-meter property in the same subdivision where they lived. (I’m sure it was given with ulterior motives, so that they could see their future grandchildren regularly. We’re not complaining. We love the fact that our kids can see their grandparents every day.)
We had very little money then but we were able to borrow some money from that same favorite mother-in-law. And we were able to eke out the rest of the amount needed to build the house. Month after month, God provided. And after one long year (that’s what happens when you have very little money), we finished building our small house for P1.2 million.
Today, after 14 years of working on my small businesses, I now have some money. After much failures, I’ve been tasting success. Recently, my wife and I felt an itch. Have you noticed? When you have money, it’s hot in your hands. You want to spend it. (That’s why I strongly suggest you learn the two habits of tithing and investing—so you get it out of your hands.) My wife and I looked around at our old house and we wanted to live in a better house.
Like the ones we saw in thick design and architectural magazines. With the pictures of gigantic houses that make you drool over their glossy pages. We felt the temptation to climb up. To move higher. After all, we had some money. Was it time to move to a nice subdivision and build a P20 million or P30 million house? Our friends were doing it.
But that would mean getting into debt and paying through our nose. So we asked ourselves, “Where did that dream come from? Did it come from pride or purpose?”
After discerning, my wife and I decided to lower our dream to match our resources. So instead of buying a new house worth P20 million, we got a great interior designer and renovated our old house. How much did we spend? P1 million. Today, our house is very pretty. It’s still small. Because we adjusted our dream to match our resources, and we incurred no debt.
We can sleep at night like a babe snuggled in her mother’s arms. And we’re able to give so much more to ministry. And we’re able to invest our money and make it grow even more.
It’s the same story with my car…
My Luxury Car
luxury car
I had a dream of owning a luxury car. I wanted a smoother ride so I could work at the backseat of the car—while my driver maneuvered the traffic. (People wonder why I’m able to churn out books and articles like a machine; one of my little secrets: I write on my laptop during traffic.)
I must admit, this luxury car thing wasn’t a need. It was a want. But as I said, I believe that God is such a good God, He provides for our silly wants. At about that same time, my friend bought a brand new luxury European car worth P8 million. When we met, he told me, “You should buy one too, Bo. It has the perfect ride.”
I smiled. I realized I could—if I really wanted to. But I was much wiser than this. As my friend Junie says, it’s enough satisfaction for me that I can look at a really expensive brand new car, slide my finger over its hood and feel how shiny and smooth it is, and say with a shrug, “I can buy this… but I won’t.”
Instead, I searched the internet for a second-hand luxury car. Not European, but Japanese. And I found one. It was four years old. Total Cost? P600,000. I visited it, took it for a spin, and loved the ride. I wrote a check and drove it home, the proud owner of a luxury car.
Sure, my friend’s brand new car will get more glances wherever he goes. More oohs and ahhs. (Something I’m totally not looking for—I just wanted the smoother ride.)
But here’s the difference. My friend today is swimming in an ocean of debt. He’ll be paddling water for five years. Me? I own my car free without a single worry. (I realize I have enough stress from my businesses and ministries. I don’t need to add to it.)
After more than a year, I’m still using my luxury car and loving every minute of it. Because luxury cars last longer, I plan to use it for many more years. Heck, I realized I’m saving money. What did I do? I adjusted my dream to match my resources. But friend, it’s very different when your dream comes from your purpose…
2. If Your Dream Comes from Purpose
If you know that your dream comes from a God-ordained, God crafted, and God-empowered purpose, then pursue it with all your heart—even if you know your resources are lacking. Five years ago, we dreamt of holding the Feast in PICC. I saw this in my mind. I imagined it. I prayed for it. But believe me, the dream was bigger than our resources.
At that time, we only had one Feast, and it was in Valle Verde. The weekly rent was P75,000. All of a sudden, if we moved to PICC, the weekly rent would jump to P250,000. Where in the world will we get the money? Not only that, I wanted to retain a Feast in Valle Verde. So we’d still be paying the P75,000 rent in Valle Verde PLUS the P250,000 in PICC.
To complicate the problem, we also wanted to build Feasts all over the world—and that needed a lot of money too. In that year alone, we wanted to build Feasts in Makati and Quezon City and Rizal and Alabang and Bulacan… etcetera!
I searched my heart and asked myself the hard question, “Does this dream—of holding a Feast in PICC—come from pride or purpose?”
After all, PICC was one of the best convention centers in the country. Really classy. But something in me was telling me that it wasn’t a matter of pride. PICC was perfect for the target market we wanted to reach for God.
Yes, our dream was bigger than our resources. But because our dream came from purpose, we didn’t adjust our dream to match our resources, instead, we adjusted our resources to match our dream.
And the rest is history. We’ve been holding the Feast in PICC for almost three years now. Because of our multiple sessions, this coming year, we’ll be spending P750,000 each week to make it happen. Not only that, we’ve also built 123 Feasts all over the world. Not only that, we’ve also partnered with 10 ministries for the poorest of the poor—and they suck money like crazy too. But God provides for His work.
A Son’s Dream
My sister has an only child—Joseph. One day, Joseph announced to his parents, “I want to be a chef!” His parents felt like they were hit by a wrecking ball.
chef
Because they know culinary schools were expensive. True enough, the specific culinary school Joseph wanted to attend would cost P500,000 a year. The dream was bigger than their resources.
Using my terminology today, they asked themselves, “Do we adjust the dream to match our resources? Or do we adjust our resources to match our son’s dream?” After praying hard about it, his parents decided to go for Joseph’s dream. My brother-inlaw worked like crazy, accepting two teaching jobs, just to raise the money. My sister worked in her businesses too and made them flourish.
For four years, they labored, praying, working, and praying some more. Today, four years later, Joseph has finished his culinary course. And two months ago, Joseph flew to France to get more training as a chef. The big dream has come true. Let me say it again: When your dream is bigger than your resources, and you believe your dream comes from purpose, don’t decrease your dream to match your resources, but increase your resources to match your dream.
