bosanchez - Focus on Your Gift, Not Your Cash

 

Question: What can harm your business?

Answer: A lot of available cash.

Call me crazy, but I believe in that 100 percent.

Ideally, someone who is starting his first business shouldn’t have a lot of cash. I believe a lot of cash can harm you more than help you.

So if you’re starting your first business now and you have very little cash—thank God!

It’s one of His sweet blessings to you.

Why?

You’ll learn to “make do.”

You’ll learn to work from home. (Don’t rent office space yet!)

You’ll learn to use what you have. (Don’t buy new stuff yet!)

Besides, it will be a fantastic story to tell 20 years from now.

You’ll be able to tell your kids, “I started this giant company 20 years ago in my living room. I started with only P34,000…”

Here’s another reason why having a lot of money at the start of your first business is bad for you…

 

First Businesses Usually Fail

 

When you start your first business, you’ll fail.

Sorry to be the bringer of bad news.

But if you really think about it, it isn’t really bad news.

Because failure isn’t God’s Rejection. Failure is God’s Redirection.

No, not ALL first businesses will vanish into thin air. Some will survive. But these will be revised, rehashed, redesigned, rebuilt…

 

My Story of Failure

 

Once upon a time, I had P600,000 in savings.

I was bent on starting my business.

Feeling confident because I had P600,000 in my hands, I looked for a business.

There’s the mistake.

Your money isn’t the reason why you go into business.

You go into a business because you have a GIFT you want to give to the world.

Not your money. It’s your gift that people need!

Anyway, back to my story.

Someone told me about a hotdog stand in a brand new mall. Since I had my cash, I bought the franchise for P250,000. Monthly rental was P18,000.

I still had money left!

What should I do with it? (You see, when you have money, your hands itch.)

The mall offered me another stall, right beside it. Since I had money left, I bought another franchise for another P250,000. This time, it was an ice cream scooping station. That required another monthly rental of P18,000.

I figured: What could go wrong? It was such a simple business.

But everything went wrong.

Looking back, I did no research. (Crazy!)

I never studied who the main shoppers were, and thus, whether they would like hotdogs or ice cream. (They didn’t.)

I also didn’t know anything about the business.

I didn’t even look for a mentor who could guide me.

It was all a leap in the dark.

I literally “jumped” into it blind.

What happened?

The moment I opened it, the business began to bleed. My monthly expenses were much more than my profits. Instead of earning, I was losing P20,000 a month!

After five months, I closed the stores.

I lost P600,000 on that business.

Yes, I lost everything I had.

 

Learn From Others Who Have Failed

 

Today, my businesses are very successful.

I believe I’m successful today because of all my past failures.

But I’ve got good news for you: You don’t have to experience my failures.  You don’t have to experience all my mistakes.

How?  Learn from the failures of others!  (Learn from my pains so you don’t have to experience them.)

Get Mentors!

This is the reason why you need to surround yourself with Super Successful people who can share with you their journey of failures.

This coming March 4 to 5, you have such a golden opportunity.

Join me!  Be part of our biggest Financial Event of the year: WEALTHSUMMIT2016 at beautiful PICC.

You’ll learn from the Financial Gurus on stage, be in a roomful of successful, positive people.

To change your financial life, click the link below:

 

Yes Bo, Tell Me More About WEALTHSUMMIT2016

May your dreams come true,

 

Bo Sanchez

PS. Remove Your Financial Blocks That Prevent You From Reaching Your Financial Dreams.  Be part of our biggest and life-changing Financial Event of the year. Join me at WEALTHSUMMIT2016 on March 4 to 5 at PICC.  Reserve before you lose your seat!  To join this powerful event, go to http://ift.tt/1SaPYZF now!

 

PS2. Learn from Super Entrepreneurs and Financial Gurus.   Edric Mendoza Chinkee Tan.  Christin Babao.  Edward Lee.  Rex Mendoza.  Dean Pax Lapid.  Change your financial mindset.  To join this powerful event, go to http://ift.tt/1SaPYZF now!

 

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