Entrepreneurs Should Master Financial Literacy

I strongly believe that everyone, especially entrepreneurs should master financial literacy. This is what we all deal with everyday and should be taken equal regard as our diploma. 

20 years ago, I read Robert Kiyosaki’s Rich Dad, Poor Dad. It had a great impact for an ambitious young lady like me at that time but no matter how I tried to put up a business, I always failed. What I didn’t know was that I lack the business foundation that every entrepreneur must have. Though I have a business mindset, I lack these three things. 

1. Goal 
2. Passion 
3. Roadmap 

Well, I can’t put all the blame on me since I was raised to become an employee. My parents were employees and the society dictates that we excel in academics to become successful employees. But that’s NOT what I want! I want to earn money doing the things I love. More than enough for my family’s expenses, have the opportunity to help others and have more control of my time. 

Only when I took Susan Mershon’s The VA Starter Kit (VASK) and VA Business Blueprint (VABB) in 2013 did I realize what my reasons for failure were. 

Having to realize this, I remember the “Four Baskets of Income”, also known as the CashFlow Quadrant that Robert (yes, I want to be on first name basis with him) was preaching in the book, which I was so hardly trying to do. First, let’s enumerate them. 

1. Employee – E 
2. Self-Employed/Small Business – S 
3. Big Business Owners – B 
4. Investors – I 

Since 1995, I was an E (employee) until I was able to successfully get out of it to become an S (self-employed) in 2013. It was never easy. Lots of rough roads along the way, no client stability and money was depleting consistently on a monthly basis.

I was a risk taker and I know that. Most of the time, I follow what my heart says but in business, you have to be brave, bold and wise at the same time. Though I already know the theory, I’m only starting to apply its lessons at that time. 

Thanks to the online technologies that opened worldwide opportunities, and to the newly introduced applications such as AirBnB, Grab, Uber and a lot more. These new online based business models gave an array of options for everyone, even those who don’t know how the internet works. 

In his video that inspired me for this blog, Robert he said that there are 4 types of people out there. Those who liked to be: 

1. Right 
2. Comfortable 
3. Liked 
4. WIN 

Winning and success takes sacrifice and if you’re one of those people who want to win, there’s so much work to do, many failures to learn from and a long way to go. The challenge is to keep on going. 

From E to S quadrant, I plan on strengthening my B and keep filling up my I. 

To WIN, we need to acquire financial freedom and use our gifts into something more meaningful. Something that gives us a purpose while adding more value to others. 

I hope I’ve shared enough stories with you today that will inspire you to make BOLDER decisions in life. Nothing will be achieved without the will of our Creator, so before doing anything else, let’s pause and seek for His guidance first and don’t forget to give thanks at all times. 

See you on my next post!