Your First Million - Inspirational Stories

[Cucho]

I made my first business success while i was still in school. The laws in my country were changing, and a business oppurtunite was clear to me. Because of my age (i think i was 18-19) many people doubted my ability to run a company.

However they could not stop me (by law) from trying. So i did. And it really worked out. Today i still own the company, but im not running it. So i have all the time working on new projects.

 

My advise for you guys is to open you're eyes. There's always business oppurtunities for those who can see them.

For exampel i was just talking with a friend over a drink about a year ago. He was complaing as always! He was talking about a problem he had, and from that problem i saw an solution. From that conversation grew our new project. I made him my partner, not because im a good guy, although i like to flatter myself that i am :hypocritesmiley: , but because he has lots of experience to offer the project.

 

Belive in yourself and you're ideas. But don't be foolish. Don't go in to business with a "evertything will work out" attitude when you know that you're idea has several ,for lack of a better word, errors. Its frustraiting when its happens. But you just have to keep on writing different ideas and save that one until perhaps later, when the conditions are better.

 

Don't expect others to do things for you! I meet people all the time who expect others to everything for them. They ask me for ideas, if you had ideas you probably would go through with them yourself. Wouldnt you?

 

 

 

Well, thats all for now folks! haha

 

Best wishes

// a bored Cucho

[iggy112]

I just want to share the following article on how some people never get rich. Though written in the States, there are still a number of tips you may find very helpful:

 

TheStreet.com

10 Reasons You Aren't Rich

Thursday March 22, 11:30 am ET

 

ByJeffrey Strain, Special to TheStreet.com

The reason why you aren't a millionaire (or on your way to becoming one) is really quite simple. You probably assume it's because you aren't earning enough money, but the truth is that for most people, whether or not you become a millionaire has very little to do with the amount of money you make. It's the way that you treat money in your daily life.

 

 

Here are 10 possible reasons you aren't a millionaire:

 

1. You Care What Your Neighbors Think: If you're competing against them and their material possessions, you're wasting your hard-earned money on toys to impress them instead of building your wealth.

 

2. You Aren't Patient: Until the era of credit cards, it was difficult to spend more than you had. That is not the case today. If you have credit card debt because you couldn't wait until you had enough money to purchase something in cash, you are making others wealthy while keeping yourself in debt.

 

3. You Have Bad Habits: Whether it's smoking, drinking, gambling or some other bad habit, the habit is using up a lot of money that could go toward building wealth. Most people don't realize that the cost of their bad habits extends far beyond the immediate cost. Take smoking, for example: It costs a lot more than the pack of cigarettes purchased. It also negatively affects your wealth in the form of higher insurance rates and decreased value of your home.

 

4. You Have No Goals: It's difficult to build wealth if you haven't taken the time to know what you want. If you haven't set wealth goals, you aren't likely to attain them. You need to do more than state, "I want to be a millionaire." You need to take the time to set saving and investing goals on a yearly basis and come up with a plan for how to achieve those goals.

 

5. You Haven't Prepared: Bad things happen to the best of people from time to time, and if you haven't prepared for such a thing to happen to you through insurance, any wealth that you might have built can be gone in an instant.

 

6. You Try to Make a Quick Buck: For the vast majority of us, wealth doesn't come instantly. You may believe that people winning the lottery are a dime a dozen, but the truth is you're far more likely to get struck by lightning than win the lottery. This desire to get rich quickly likely extends into the way you invest, with similar results.

 

7. You Rely on Others to Take Care of Your Money: You believe that others have more knowledge about money matters, and you rely exclusively on their judgment when deciding where you should invest your money. Unfortunately, most people want to make money themselves, and this is their primary objective when they tell you how to invest your money. Listen to other people's advice to get new ideas, but in the end you should know enough to make your own investing decisions.

 

8. You Invest in Things You Don't Understand: Your hear that Bob has made a lot of money doing it, and you want to get in on the gravy train. If Bob really did make money, he did so because he understood how the investment worked. Throwing in your money because someone else has made money without fully understanding how the investment works will keep you from being wealthy.

 

9. You're Financially Afraid: You are so scared of risk that you keep all your money in a savings account that is actually losing money when inflation is put into the equation, yet you refuse to move it to a place where higher rates of return are possible because you're afraid that you will lose money.

 

10. You Ignore Your Finances: You take the attitude that if you make enough, the finances will take care of themselves. If you currently have debt, it will somehow resolve itself in the future. Unfortunately, it takes planning to become wealthy. It doesn't magically happen to the vast majority of people.

 

In reality, it is probably not just one of the above bad habits that has kept you from becoming a millionaire, but a combination of a few of them. Take a hard look at the list, and do some reflecting. If you want to be a millionaire, it's well within your power, but you'll have to face the issues that are currently keeping you from creating that wealth before you will have a chance to call yourself one.

 

 

This is so true. I've made my first Million a few years back and a lot of the things I've learned matches with everything listed here... but what this fails to do is tell people what they need to do next

[trophyboy]

hope i win the lotto

[dyodyo]

I just want to share the following article on how some people never get rich. Though written in the States, there are still a number of tips you may find very helpful:

 

TheStreet.com

10 Reasons You Aren't Rich

Thursday March 22, 11:30 am ET

 

ByJeffrey Strain, Special to TheStreet.com

The reason why you aren't a millionaire (or on your way to becoming one) is really quite simple. You probably assume it's because you aren't earning enough money, but the truth is that for most people, whether or not you become a millionaire has very little to do with the amount of money you make. It's the way that you treat money in your daily life.

 

 

Here are 10 possible reasons you aren't a millionaire:

 

1. You Care What Your Neighbors Think: If you're competing against them and their material possessions, you're wasting your hard-earned money on toys to impress them instead of building your wealth.

 

2. You Aren't Patient: Until the era of credit cards, it was difficult to spend more than you had. That is not the case today. If you have credit card debt because you couldn't wait until you had enough money to purchase something in cash, you are making others wealthy while keeping yourself in debt.

 

3. You Have Bad Habits: Whether it's smoking, drinking, gambling or some other bad habit, the habit is using up a lot of money that could go toward building wealth. Most people don't realize that the cost of their bad habits extends far beyond the immediate cost. Take smoking, for example: It costs a lot more than the pack of cigarettes purchased. It also negatively affects your wealth in the form of higher insurance rates and decreased value of your home.

 

4. You Have No Goals: It's difficult to build wealth if you haven't taken the time to know what you want. If you haven't set wealth goals, you aren't likely to attain them. You need to do more than state, "I want to be a millionaire." You need to take the time to set saving and investing goals on a yearly basis and come up with a plan for how to achieve those goals.

 

5. You Haven't Prepared: Bad things happen to the best of people from time to time, and if you haven't prepared for such a thing to happen to you through insurance, any wealth that you might have built can be gone in an instant.

 

6. You Try to Make a Quick Buck: For the vast majority of us, wealth doesn't come instantly. You may believe that people winning the lottery are a dime a dozen, but the truth is you're far more likely to get struck by lightning than win the lottery. This desire to get rich quickly likely extends into the way you invest, with similar results.

 

7. You Rely on Others to Take Care of Your Money: You believe that others have more knowledge about money matters, and you rely exclusively on their judgment when deciding where you should invest your money. Unfortunately, most people want to make money themselves, and this is their primary objective when they tell you how to invest your money. Listen to other people's advice to get new ideas, but in the end you should know enough to make your own investing decisions.

 

8. You Invest in Things You Don't Understand: Your hear that Bob has made a lot of money doing it, and you want to get in on the gravy train. If Bob really did make money, he did so because he understood how the investment worked. Throwing in your money because someone else has made money without fully understanding how the investment works will keep you from being wealthy.

 

9. You're Financially Afraid: You are so scared of risk that you keep all your money in a savings account that is actually losing money when inflation is put into the equation, yet you refuse to move it to a place where higher rates of return are possible because you're afraid that you will lose money.

 

10. You Ignore Your Finances: You take the attitude that if you make enough, the finances will take care of themselves. If you currently have debt, it will somehow resolve itself in the future. Unfortunately, it takes planning to become wealthy. It doesn't magically happen to the vast majority of people.

 

In reality, it is probably not just one of the above bad habits that has kept you from becoming a millionaire, but a combination of a few of them. Take a hard look at the list, and do some reflecting. If you want to be a millionaire, it's well within your power, but you'll have to face the issues that are currently keeping you from creating that wealth before you will have a chance to call yourself one.

 

I agree with these...

 

Very inspiring...

 

Earned my 1st Million when i was 26 yrs. old (4 yrs. ago)

 

[fireman9927]

If i have a 100k pesos, how can i invest it a stock market?or bussiness?any ideas?HELPPPPPPPP

[bachelor25]

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[loafer]

I think a Million Peso is not much money now a day. It's just enough to buy a midsize car. Well it depends on how old the person is and his staus in life when he start to earn his first million. I think the question should be more specific like How I earn my first Million Dollars or better yet, how I earn my first 100,000 dollars.

[rich_girl]

made my first million the traditional way...through sheer hard work and determination and being honest with my customers.

when i started my business, i worked 18 houres a day, now business is more stable, i work only 16 hours a day. when i started, i couldn't afford to hire a helper, so i had to do deliveries myself, i was carrying real heavy merchandise, veins were showing on my neck when i carry these merchandise, and my hands were trembling when i go home each night. but that is history. now i have 10 workers to help me, and i am able to enjoy life a little...and i am happy.

 

 

nice one :thumbsupsmiley:

[sunking]

Mga kapatid,

 

Salamat dun sa mga nag-share ng kuwento. Mas motivational talaga, at yun yata ang kailangan ng mga kapwa natin (tulad ko). Sana dun sa mga ibang magpo-post na kumita na ng 1M eh mag-share kung anong ginawa nila at anong payo ang mabibigay nila sa ibang tao, di lang yung kung anong trabaho nila o kaya kung anong edad sila kumita.

 

I think 1M is still a viable landmark for financial achievement to shoot for. Maybe not 1M in your pocket per se, though. I'd like to be able to put 1M somewhere where it's working for me, whether in real estate, fund investments, stocks, etc.

[brian croser]

Let me see .......

 

started working in 1991 as a lowly associate in a law firm ......

 

in 1996, I was surprised to find out my annual net income for the year crossed the million mark ......

 

so, cumulatively speaking, I earned my first million in 1996 ! ...... out of being an underpaid, overworked, burned out lawyer

 

 

..... but if we're talking about one single instance of a one million peso check made out in my name, then that would be in 2004!

 

..... sa sobrang excited ko, I deposited the check to my current account then issued a 1 million check to myself which I deposited back to my account ..... para lang may souvenir ako of a duly negotiated 1 million check in my name ...... naka-frame sya ngayon sa office!

 

..... after that, as henry sy said, the next ones were no longer hard to come by :hypocritesmiley:

[DonImus]

Stockmarket a few years back. Hopefully more to come after this recent slump...i'd rather have P50M though

[melancholic]

Gross ba ung 1 Million for this thread? Kung savings, nasa below 30% palang ako. But I grossed $25k (P1,150,000) from March 2006 to March 2007. I'm a Freelance Web Developer, 24 yrs old.

 

Now for the inspiring part. I don't believe that your work/business should be about money. Although money matters, it shouldn't be your primary goal.

 

First you must identify your strengths, your talents, and your weaknesses. By knowing yourself more, you will be able to see yourself in the future albeit a little bit bleak in the beginning. Seeing yourself means identifying your mission in life. Your mission in life is something that when accomplished, death wouldn't look frightening to you anymore. For me, the best mission in life is something that transcends yourself, something that is selfless and driven by love.

 

Now if money is what you need to accomplish your mission, then go for money. But remember that your mission is always number one. Having money as your primary goal will lead you into an empty and meaningless life(a wisdom coming from the elders).

 

With your mission as your motivation, you will be ready and happy to face everything that comes your way. Your eyes will open to opportunities everywhere you look. You will be able to bring out your innermost strengths and minimize the effect of your weaknesses. Every step, whether it be trials or blessings, will always be meaningful. This positive outlook in life will attract money and almost anything you want and need.

 

Not all missions need money. There are some that are willing to sacrifice the comforts of life just to accomplish their mission and serve their fellowmen. Their mission cannot be done otherwise and they became great men and women of history.

 

But of course there are some people who are just lucky. But with luck comes an equal amount of bad luck. They are what they are until their luck wears out. The most important and only true wealth that one can have is his/her character. With this, you will be strong and happy wherever you go, whatever circumstances might be. If you're just lucky but your character is rotten inside, then you're just like a gold plated jewelry, toss it in a fire and it's destroyed. If you have a golden character, whether you're tossed in ice or fire, you will always be a gold and therefore always RICH.

Edited August 29, 2007 by melancholic

[clarky]

Got my first million when I was 21 :goatee:

[joss]

first million na ngayon ...mag trabaho ka lang sa magandang kompanya kaya mo yan , mag abroad ka mas madali.. di mo na kailangan ma mroblema. madali na lang kitain ang 1M.

tumaas na ang level ngayon nasa first 10 million na ngayon ...malapit lapit na rin di ako makapahinga hehehe

[wizard23]

i earned my first million by investing my savings in mutual funds, stocks, dollars and high yielding time deposits (5 years ago).