Personality traits of a successful businesman:
1. Have a SMART (Specific, Measurable, Achievable, Realistic and Time-targeted) goal.
Have a notebook where you can write your goal. Visit it often, to help you keep track of your goal. You can also write your goal where you can easily see it. Read it before you sleep or as you wake up, to always remind you of it.
Let someone know about your goal—someone who believes you can do it and someone who doesn’t believe that you can do it. Why do you have to do that? Because the one who believes in you will support, encourage and uplift you, which will help boost your confidence to achieve the goal. The one who doesn’t believe in you will challenge you and drag you down, but this will serve as your power engine to drive you to your goal.
2. Have a proper mindset towards your goal.
What is mindset? This is your attitude, beliefs, feelings, values and disposition towards your goal. Copy the mindset of the rich. Choose to adopt new beliefs; think and act like wealthy individuals and consequently, you will manifest the same result.
Rich people believe that they and they alone are responsible for everything in their lives; they create their lives with their thoughts, beliefs, choices, words and actions. They don’t feel as though “Life is happening to me.” Be like them.
3. Educate yourself.
In my last seminar, I have enumerated the three types of education: Academic, Professional and Financial. Now that you have academic and professional education, all you have to do now is to study and focus on financial education.
To enhance my financial education, I attend trainings, workshops and seminars. I also read e-books, magazines and other reading materials.
4. Pay yourself, first.
Tax yourself for every peso you earn.
I practice what I call the “FLAT-G Jar System.” This refers to four jars: Financial Liberation Account, I Always Have Account, Tithing Account and Giving Account. Every pay day, I put a certain percentage of amount into each jars before paying my bills. Here’s a more detailed explanation of each Jar:
4.1 Financial Liberation account. Use the amount you put in this account in an instrument that generates passive income (e.g. real estate, a franchise or any other business, etc.)
4.2 I Always Have account. You will NOT withdraw the money you put in this jar. This will give you the positive outlook in life that you will ALWAYS HAVE money
4.3 Tithing account. This amount is donated to the organization where you receive spiritual guidance
4.4 Giving account. The amount allotted to your loved ones
5. Live below your means, first; then, when you get rich, expand your means.
6. Mind your Own Business (MOB).
If you want to start a business, makes sure you know what you are doing and you love what you are doing. You also have to seek the advice of others. Knowing your business refers to the investment vehicles below:
Income from business, stocks, bonds, mutual funds for real estate investments, notes (IOU’s) and royalties
In my case, I used the money from my Financial Liberation account to engage in agri-business.
7. Seek Guidance from God.
According to Jeremiah 29:11, “For I know the plans I have for you,” declares the LORD, “plans to prosper you and not to harm you, plans to give you hope and a future.” God has a plan for each of us; but, of course, we still need to do our part in response to His plan.
Remember, always pray and seek guidance from above.