If you want to earn more, you have to learn more.
This line is in my mind all the time.
So I did not hesitate to pay and attend workshops and membership clubs online so I can meet new people to learn.
I was hungry for more learning so I decided to join Truly Rich Club Entrepreneurs Workshop on my holiday to the Philippines and that’s where I met my mentors in flesh. The first time I met Bro. Bo Sanchez briefly after being a member of the Truly Rich Club online for over 3 years in 2015.
I’ve also met Bro. Bo’s business mentors – Dean Pax Lapid- one of the most sought-after business mentor in the coun
Working abroad isn’t a walk in the park. Lots of Filipinos believe that if you’re working abroad, it means you’re living comfortably in a magical land where money is coming in non-stop.
But in reality, that’s not true at all.
OFWs are struggling with their life situation abroad and some even skip meals just to get through the day.
So to avoid going broke, you need another source of income. And starting a business here in the Philippines is your best option.
So, here’s how to make the leap from OFW to entrepreneur.
Before you dive into entrepreneurship, you must save a portion of your income for your business. However, saving is not easy especially if you have a lavish lifestyle. But if you’re really serious about starting a business here in this country, you should practice simple living. Stay away from fancy things and save your money to fund your business.
Put the word “NO” in your vocabulary
You must learn to say “no” to your family and friends. They will always ask you for money and gifts, but if you always give them what they want, there will be nothing left for you and your business. So practice saying “no” to their requests. It may be difficult at first but you’ll get used to it. Be strong-minded and focus on funding your business.
Familiarize yourself with the Philippine market
Starting a business here in the Philippines is a different ball game. What sells abroad might not sell here in the Philippines. So you need to be attuned with the local market. Give yourself some time to do some researches and study the local market. Identify the top trends first before you start your own business.
Invest in a lucrative business
Once you have the funds and you’re familiar with the local market, you must pick a profitable business that will suit you. Choose something you’re interested with so you won’t get bored when you’re running it.
Here are some excellent business ideas you might want to check out:
1. Food Business
2. Rice Retailing
3. Laundry Shops
4. Digital Printing Business
6. Logistics Handling
7. Shuttle Services
8. Convenient Deliveries To Condominiums
Encourage your family and friends to set up their own businesses too. In that way, they won’t ask money from you anymore. Think and explore franchising. It is a way of doing business under the guidance of a franchiser. However one needs to be careful in choosing the right franchise business. As I always tell people — “investigate first before investing.”
“Inside of a ring or out, ain’t nothing wrong with going down. It’s staying down that’s wrong.” – Muhammad Ali
Entering the world of entrepreneurship isn’t for the faint-hearted. There’s always risk involved in business. Sometimes things won’t go your way. And when things go sour, you need to find ways to stay afloat. So learn how to adjust to any situation, have faith and don’t give up easily.
There are a number of organizations who are supportive of the OFWs. In the recent 4th OFW and Family Summit held at the World Trade Center, around 5,000 OFWs came seeking advise on getting into business. Mentors from GO NEGOSYO, Association of Filipino Franchisers Inc., Villar Foundation, Blas F. Ople Policy Center Foundation were all present. There were as well OFWs who are now successful entrepreneurs who spoke how they survived challenges.
At times when you feel things are not moving the way you wanted it to be, just try to look back. You will realize the many hundred fold improvements in your life including your family as well. Think of the various experiences you learned. Surely you can apply some if not all in becoming an entrepreneur.
Finally, always wear that positive mindset. Avoid self-pity. Emotions can be a tool to bring you down. Turn it around and use it to strengthen your willpower.
Pray and have faith!
I feel truly blessed that I have met a lot of amazing people that helped me in my journey as an OFW. I especially thank Bro. Bo Sanchez and The Truly Rich Club as it has opened so many doors of opportunity for me , my family, and thousands of Filipinos.
You are welcome to join us @ The Truly Rich Club.