Vlum 25 Numbr 1 • Dcmbr 2010 Page 3 of 5
That was ve years ago.Today, we have 200 kids enrolled.We aim to keep growing every year.
My Point?Start Your Business without Much Cash
I could go on and on, telling you one story after another.I’m allergic to wannabe entrepreneurs with lots of cash.From experience, they lose it!What’s the winning combination of entrepreneurial success?
A lot of passion and very little cash!
Why? Because “very little cash” will force you to be more creative, more imaginative, more persevering, moresacricial… Stuff necessary for a great entrepreneur.Believe me, I’ve heard of horror stories of kids of very wealthy parents who started businesses with the help of Daddy’s money and then lost millions.Because money is too easy for them.Money isn’t valued.So they’re careless with it.
When You Have Much Wisdom,That’s the Time to Get Cash
Later on, as you grow in your business skills—and you begin to taste small successes—that’s the time toborrow money to expand your business.For example: As I entered into new businesses and real estate ventures, I borrowed money. But when I did this,I already had
business skills under my belt.At one point, my total debt was P10M. Thankfully, all these were loans not to banks but small loans given to meby
Incorporated: My mother, my sister, my mother-in-law, my uncle-in-law, etc. I paid them a monthlyinterest on their money—all postdated checks. These people knew I was trustworthy. (This is essential. Business isabout relationships.)
New Entrepreneur’s Workshop in January
I want to help you start your own business.I’m organizing an
in January 8 and 15 here in Manila. It will be very unique (andvery effective) because participants will be bringing with them three business ideas which they can test while takingthe workshop.I can’t tell you much about it yet. But you’ll receive an email from me next Monday, describing it.But even now,
block off these dates in your calendar.
May your dreams come true, Bo Sanchez
PS. Only 45 participants will be accepted in the workshop.
So if you really want to join it, watch for my email onMonday.