Aside from submitting your tapes to Funniest Home Videos and hoping that you’ll win, you can be proactive and initiate income generation by creating an account in video distribution channels online. These websites share their revenues from advertisers to the video content creators. Depending on the website, producers usually get paid based from the number of views and ad clicks from the audience.

The secret to earning good money from this income opportunity is viral content. Upload videos that will make people talk. In general, the characteristics of viral videos are:

• It amuses and entertains quickly.
• It holds attention and provokes thought.
• It teaches interesting and useful ideas.

Remember to render you digital videos with good resolution because internet streaming will reduce its clarity. Add some sound effects and background music to enhance the viewer’s experience. Video editting and special effects are optional and will largely depend on the type of your content.

So where do you upload your videos? Here are some great sites:

Revver
As content creator, this website will split its advertising revenue 50/50 with you. Likewise, you can distribute someone else’s content and earn 20% of the total revenue from that video.

Metacafe
They will pay you $5 for every thousand views of your video on their site. Unfortunately payment starts only after your video reaches 20,000 views and earns a rating of 3.00 or higher. However, Metacafe will help market your content while you retain ownership on your videos.

YouTube
Monetizing is done through Google AdSense for video. It is currently available to U.S. publishers with English language sites who serve at least one million video streams a month. But don’t worry, Google plans to expand the program to more publishers of various sizes and locations in the future.

Flixya and Nelsok
These two video sharing websites also offer monetizing through Google Adsense. Unlike YouTube, they accept publishers where Adsense is accepted and available. You will earn through clicks on relevant advertisements integrated into your video channel page. An Adsense ID is required when you sign up so if you don’t have an account yet, then I suggest you do that first:

To withdraw your earnings, you will need to have a Paypal account. Signing up is free and easy. So if you don’t have an account yet, do that now here:

Sign up for Paypal.

So how much can you potentially earn?

I’ve read reviews and ratings of these websites and they say that you can earn as much as $2 per click on Google Adsense powered video sharing websites. Furthermore, I personally tried Revver and uploaded some videos like the one below which me and my friend made:

After several days and around 200 views, I’ve already earned around $0.90. Now imagine if you’re a video blogger like fellow Pinoys, CokskiBlue and Happy Slip who regularly receives 500 to 40,000 views and you’re looking at earnings of $2 to $180 for each video project you upload. Not high enough? Then consider the dancing prisoners of Cebu whose Thriller video has received more than 15 million views. If that was on Revver, that single video would have made around $67,500!

So what are you waiting for? Get those video cameras rolling.

By the way, if you’re a photographer and you’re wondering if you can likewise earn from selling your photos online, then check out my other article entitled, Earn By Selling Photos Online. And if you want to learn more genuine income opportunities, then subscribe to Ready To Be Rich.

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That question got me thinking which eventually prompted me to start my own search for the answer. Fortunately, I found what I was looking for. But before I share what I discovered, I’d like you to ask yourself the same question and think about the answer. So in your opinion:

How important is intelligence in wealth accumulation?

We all know that some of the wealthiest people on earth are college dropouts. Personalities such as Bill Gates, Steve Jobs, Ralph Lauren, Michael Dell and Richard Branson, have shown the world that one can be rich without having a degree. Nevertheless, one could simply attribute their failure to finish formal education from economic and social circumstances and not because of low academic aptitude. And thus, we are left with still an unanswered question.

At the Center for Human Resource Research in Ohio State University, Jay Zagorsky had the same question in mind. He then conducted a study to find out how important intelligence is to financial success. In his paper entitled, Do Have To Be Smart To Be Rich? The impact of IQ on wealth, income and financial distress, he reveals his findings after following more than 7,000 Americans from their teen years to their early 30’s.

He gathered the financial status of these baby boomers by asking several questions about their credit history, monthly spending, accumulated assets and liabilities. Furthermore, these same group participated in an IQ test which covered word knowledge, paragraph comprehension, math knowledge and arithmetic reasoning. These information was then analyzed for correspondence. So what was his conclusion?

Intelligence provides more earning power but not necessarily more accumulated wealth. He further explains, “The smarter you are, the more income you have, but for wealth, there is no relationship.”

Zagorsky defines wealth as the difference between a person’s assets and liabilities. So, wealth is income plus home value plus investments and personal assets minus mortgages, credit card debt and other individual liabilities. In his study, he found out that a higher yearly income does not necessarily translate into higher wealth. In fact, people with slightly above average intelligence (105 IQ score) had an average net worth higher than those just a bit smarter (110 IQ).

“There are some very smart people who get into financial difficulties,” he notes. “Even smart people don’t save.” Moreover, he tried to analyze the data for variables like race, education, job status and even personal habits. Still, the gap between IQ and wealth remained the same.

So what does this mean?

Zagorsky concludes, “If you’re an individual with relatively low intelligence, you shouldn’t really believe that you’re handicapped in achieving wealth. Similarly, if you’re intelligent, you shouldn’t think you have an advantage in living the rich life.”

What’s your opinion on this topic? Please share them below as a comment. Furthermore, to receive updates on this study and other interesting articles about personal finance, subscribe to Ready To Be Rich.

Works Cited:
Zagorsky, Jay. “Do You Have To Be Smart To Be Rich?“. March 2007

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Photo courtesy of kodachrome kid

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Right from the very beginning of our lives, exponential growth (my personal term for the concept of compound interest) is already working for us. Inside the womb of our mothers, we all started as a single fertilized cell. That cell splits into two within 24 hours and those two cells would again divide to become four. Through this continuous process, that single cell eventually grows into a human baby composed of billions of cells in just a span of 9 months.

That is just one example of how exponential growth affects our world. Of course there are many other theories whose foundation was built through the concept of geometric progression. This includes the creation of the atomic bomb which Albert Einstein once theorized to be possible through a massive nuclear chain reaction. Perhaps this was the reason why he claimed that compound interest is the most powerful force in the universe.

But now, we should concern ourselves on how we can apply this tool into our financial life. How can we accumulate wealth exponentially and become rich?

The first step to harnessing the power of exponential growth is to understand the three factors that affect it. These are the amount of input, the rate of growth and the number of cycles.

Input
This is your starting investment. The higher your initial amount, the faster it will grow.

Rate
This is the rate at which your input grows. Likewise, the higher the rate, the better.

Cycle
This is the number of times that the process of growth is applied. The more cycles you allow, the higher your earnings.

Once we understand how these three work together, then we can furthermore study how we can control them. And once we have learned this, then our paths will be set towards financial freedom. So the question now is, what can we do to harness the power of exponential growth?

• Consciously save money that you will use to invest– track your expenses and pay yourself first. (Input)
• Increase your financial literacy– learn how to invest and discover the right investment for you. (Rate)
• Be patient, let your money grow– make time your ally and learn how to delay gratification. (Cycle)

To receive more articles about wealth and personal finance, subscribe to Ready To Be Rich.

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Photo courtesy of Giuseppe D.

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As previously discussed in Market Research 101, there are mainly two types of data: quantitative and qualitative. Furthermore, we have identified three areas of primary consideration when doing research, these are customers, competition and environment. As you prepare your tools to gather and consolidate your findings, you must also qualify them according to their sources — primary and secondary.

Primary information are data which you gathered directly from the three areas mentioned. An example would be findings from customer surveys and focus group discussions or feedback from mystery shoppers which you hired to check the competition. Secondary information, however, are data which came from research done by other institutions or marketing firms. Although primary information gives you a more accurate view of your market, secondary information are usually readily available and can easily be gathered at no or low cost.

So how do you conduct your own market research for your business?

The first step is always to define your objectives why you want to conduct a market study. Once you know your research objectives, then you can easily design and layout your plan of action. Below are just a few of the things you can do to be able to conduct your own market research and find out if the business you’re planning to put up will be feasible or not.

How To Get Primary Information

1. Design a brief questionnaire that asks the most essential information for your study and survey suppliers and potential customers. Brave enough? Get a local telephone directory and call random households. Make sure that you’re courteous and don’t take it personally if they react negatively to your requests.
2. Organize a focus group discussion of your target market and encourage them to give their thoughts and expectations from your business. It’s usually best to start with the people you know and eventually encourage them to refer others that have the time to participate in the next FGD schedule.
3. Employ mystery shoppers and ask them to check out your competition. Feel free to do this yourself if you’re on a tight budget. I remember Mr. Tony Tan Caktiong, founder of Jollibee Foods Corp., sharing at a speech that they used to count the garbage bags of competitors to estimate their sales and found that it was pretty accurate.
4. Give out samples of your products to your target market and ask for honest feedback. If you can, conduct product sampling in a commercial establishment, just be sure to ask permission from the mall administrator before you set up your booth.
5. Observe the foot traffic and the demographics of planned business locations. This will give you a good estimate on how much walk-in clients your establishment can potentially have. Try to study on different days and times to make your data more comprehensive.

Where To Get Secondary Information

1. The internet is a vast source of information you can use to learn about business trends. You could start looking in community forums and perhaps join in the discussions. For Pinoys, you can check out the business boards of PinoyMoneyTalk, Entrepreneur and PinoyExchange.
2. Syndicated reports are available from research firm websites such as ACNielsen. Sometimes available for a fee, these information will provide you with comprehensive industry performance reports and market volumes.
3. Government agencies have public libraries which you can visit to do background research on businesses and industries. Their websites can likewise provide valuable information on overviews and statistics for various economic sectors. In the Philippines, you can visit the office of the Department of Trade and Industry (DTI) to get leads or perhaps visit the Philippine government portal at www.gov.ph to get data from the National Statistics Office (NSO), National Economic Development Authority (NEDA) and many others.
4. Academic papers done by undergraduate and graduate students are usually available in college and university libraries. Check your alma mater if you can acquire special privileges to access them.
5. Publicly listed companies release annual reports and financial statements which you can use to study industry perfomance and operations. In the Philippines, these reports are available at the office of the Securities and Exchange Commission (SEC).
6. Lastly, you can read books, magazines and other publications to get information. Look for special industry reports and articles as well as current business trends.

For more valuable information on business and entrepreneurship, subscribe to Ready To Be Rich.

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Photos courtesy of Kalabird and c-weiss

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Whenever I experience such hard times, I would always say to myself that this must be happening for a reason. I try to stay positive and believe that somehow, there’s an opportunity that will come or a lesson that I should learn during these difficulties. This has happened to me several times in my life - sudden twists of fate, reversal of fortunes and unforeseen circumstances.

During these moments, it was so tempting to conclude that life is hard and unfair, but I didn’t. Because months or even years after that phase in my life, I would suddenly realize and appreciate the value of that experience. Yes, in the end, it would all make sense.

Just like the time when I resigned from my second job and it took me almost four months to find new work. To make use of my free time, I invested all of my savings in a multi-level marketing company and went full-time recruiting members. Unfortunately, I was only able to get a few downlines and the commissions I received was not enough to sustain my financial needs.

Looking back, I now see the value of that experience. Joining that multi-level marketing company introduced me to the world of selling and the social skills I learned during the meetings and seminars taught me precious lessons on public relations. Lessons which I now teach my staff and constantly apply in my business.

This is what I call, connecting the dots. A concept that I learned from Steve Jobs, CEO and co-founder of Apple Inc., during his commencement address in Stanford back in 2005. In that speech, he said:

You can’t connect the dots looking forward. You can only connect them looking backwards, so you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever — because believing that the dots will connect down the road will give you the confidence to follow your heart, even when it leads you off the well-worn path, and that will make all the difference.

Below is the video of that speech. I suggest that you watch it in full specially if you’re looking for motivation to continue with your current endeavors or if you think that you’re life seems to be going nowhere. The personal stories he shared contains a lot of memorable lessons on work, business and life.

For more inspirational articles, subscribe to Ready To Be Rich.

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I also find it quite ironic because he received the sad news a day before Labor Day here in the Philippines. A day when the country pays tribute to the men and women who drive this nation’s economy. Well, apparently, due to the cost cutting measures which the Board of Directors decided to implement, my friend and the rest of his department, will now be joining the millions of unemployed Filipinos to celebrate this national holiday.

All this had me thinking.

How financially secure is it really to have a job? Yes, being an employee, you are sure to receive regular salaries. You get to enjoy paid vacations and reap social and medical benefits. Most people prefer living this lifestyle and think that as long as they do good at work and manage to live within their means, then they’ll be assured of a stable financial future.

How many of you feel this way?

Personally, I have given up on that dream of climbing the peak of the corporate ladder so many years ago. I have come to realize that if I really want financial freedom and security, then dedicating myself to a life of employment will not take me there.

No, I’m not saying that you should resign from work because it’s not financially stable. My point is that you should never think that having a job is more secure than being self-employed or being an entrepreneur. In this world of uncertainty, you’ll never know if you’ll still have your job tomorrow or next week. Likewise, you can never be assured that your business will continue to grow and stay strong forever. You can only hope but not expect that your investments will increase in value in the future.

With all the possible scenarios, market fluctuations and other factors that we don’t have control over, how then can we achieve genuine financial security?

I believe that financial security can only come if you have multiple streams of income.

This means that aside from your salary earnings, you should likewise create other cashflow streams such as portfolio and passive income. By doing so, you will not only have financial security, but more importantly, you’re setting yourself into generating good wealth and becoming rich someday.

As for my friend, I know he’ll be alright because he has several streams of income. He’s on a job hunt right now, and until he finds a new one that will maximize his skills and give him the same fulfillment as he received from his previous work. He can rely on his freelance projects and other investments to sustain his financial responsibilities. Can you say the same for yourself?

For more articles about work, money and financial security, subscribe to Ready To Be Rich.

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Photo courtesy of ameiss

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Never commit the mistake of venturing into a business and planning to learn as you go along. It’s always best to know beforehand the ins and outs of the industry you’re diving into. Likewise, it’s recommended that you know the technical aspects of the business so that you can properly train your staff and be able to efficiently supervise the operations during the early stages of your business.

Business and livelihood institutions are always available to help you. Immerse yourself in the community and ask around. You can likewise approach your local government to inquire on available training seminars which might interest you.

To help you get started, below are a list of business and livelihood training centers in the Philippines which offer comprehensive programs and seminars on various industries - from agricultural ventures like swine production and tilapia culture up until technological opportunities such as the internet cafe business and travel ticketing agencies.

Agri-Aqua Network International (AANI), Inc.
FTI Ave. cor. Duhat Road, FTI Complex, Taguig City
Tel.Nos: 839-1782

Herbal Garden and Livelihood Center, Quezon Memorial Circle, Quezon City
Tel. No.: 497-2755
Website: aaniphil.net

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Center for Small Enterprise (CSE)
Asian School Institute Bldg., 1518 Leon Guinto Sr. cor. Escoda St., Malate, Manila
Tel: 523-9776; 524-1879
Website: www.csentrepinoy.org.ph

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Nego-Skwela
Rm. 414 4/F Colon Dev. Bldg., Osmena Blvd., Cebu City
Tel: 032-256-0600
Mobile: 0917-8713171; 0916-4855176; 0922-2854826

CLMI Bldg., North Avenue cor. Agham Road, Diliman, Quezon City
Telephone: 433-0621 to 37; 497-4163; 924-5111
Website: www.nego-skwela.tk

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Technical Education and Skills Development Authority
37 East Service Rd., South Superhighway, Taguig City
Hotline: 887-7777
Trunklines: 817-40-76 to 82
Website: www.tesda.gov.ph

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Technology Resource Center (TRC)
TLRC Building, #103 J. Abad Santos cor. Lopez Jaena Sts., Little Baguio, San Juan, Metro Manila
Tel: 727-6205
Website: www.tlrc.gov.ph

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Ultima EntrePinoy Forum Center
Nutrition Foundation of the Philippines Bldg., 107 E. Rodriguez Sr. Ave., Quezon City
Tel: 411-1349; 742-0826; 742-7866
Website: www.spicesandfoodmix.com

Do you know any other business and livelihood centers in the Philippines? Please share them below by leaving a comment. Keep yourself updated, subscribe to Ready To Be Rich.

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Exercise doesn’t have to be expensive. If you’ve always wanted to enroll in a gym or take special exercise classes but think that you can’t afford it, then why not do some of these great activities which can help you get that exercise you need without breaking your budget.

Run or brisk walk
Put on your rubber shoes and take a jog around the neighborhood. Even walking around the mall while window shopping can do you some good.

Clean your house
Pick up the duster and clean your furnitures and fixtures. Organize the clutter in your room or closet. Skip going to the carwash and do the washing yourself.

Watch television exercise programs
There are a lot of free workout programs on television, specially in the morning. Put on some exercise clothes, set aside the furnitures and start exercising. The internet also has sites that provide free exercise routines which you can follow.

Improvise on exercise equipments
Get the ketchup bottle and use it as a dumbbell. Put some books inside a bag and do some bicep curls. Your house is filled with stuff you can use to replicate common exercise routines. Remember to do research on proper form and posture to lessen the risk of injury.

Join community activities
Look for free classes in your area, some gyms offer free workout sessions in malls. Some parks have exercise groups which you can join. The CCP Complex and Luneta, for example, becomes a gathering place of health buffs during weekends here in Manila.

Incorporate exercise in your daily routines
Park your car far from the entrance. Take the stairs instead of the elevator or escalator. Walk to your officemate’s cubicle instead of using the telephone to talk. In the end, these few extra steps can add up and you’ll burn a lot of calories.

Have sex
Many studies show it’s pretty good exercise and that’s all you need to know, right?

Can you add more to the list? Please leave a comment and share it. For more money saving tips, subscribe to Ready To Be Rich.

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Photo courtesy of GlamLive

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Albert Einstein is known for many quotes. These have been often used to invoke thought and inspiration. As an entrepreneur, I’ve learned that serving and providing value to others is the best way to become wealthy in life. To quote a line from my article, Are You Ready To Be An Entrepreneur?

Money naturally follow [entrepreneurs] because they do not actively seek it; they would rather focus their time in finding solutions and opportunities to share with others.

The short video below presents some of Albert Einstein’s best quotes. May it inspire you to provide service to others by calling upon your entrepreneurial spirit. I hope that you enjoy watching it as much as I enjoyed making it.

For more inspirational articles, subscribe to Ready To Be Rich.

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Dynamic images courtesy of Hetemeel.com

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If you think about it, money is simply defined as a tool that we use to acquire the things that we need or want. It is a non-living thing that is void of emotion or bias. Take a bill out of your wallet right now and look at it. Would you agree with me if I say that you’re simply holding a piece of paper?

However, in most cases, people tend to assign character and value to objects which we see and use everyday. We claim that the pen is mightier than the sword. We say that diamonds are a girl’s best friend. We believe that books can take us to far away lands.

So when it comes to money, what belief system do you have? Is money good or is it evil? Do you need money to achieve happiness or not?

The personal value that we assign money usually dictates the direction of our financial lives. We may not immediately realize it, but subconsciously, we often choose the path that leads to the actualization of our beliefs. Read some of the statements below about money and check if your internal compass is leading you to a life of abundant wealth or towards the other direction.

• Money is the root of all evil.
• Money cannot make you happy.

If you believe any of these, then it seems you don’t want money to come in your life. Money is not the root of all evil. If it were, then it means that evil started only when money was invented, but we all know that’s not true. Evil deeds are not always motivated by money (i.e. crimes of passion). Furthermore, I believe that when you have money, then you can easily fulfill your financial responsibilities. Thus, you’ll be able to focus more on achieving your dreams and strengthening your personal relationships, and that leads to happiness.

• Having lots of money is a big responsibility.
• If I have lots of money, I won’t know who my real friends are.

Don’t be afraid to have lots of money. You can always hire an accountant and a financial manager. You don’t have do it alone. Likewise, I believe that our own character is responsible for the people we attract in our life. If you think that the only reason why people would want to be friends with you is because you’re rich, then those types will exactly be the one you’ll have. Offer genuine friendships and chances are, the people that will come into your life are those who will reciprocate your sincerity.

• I would have lots of money if it were not for my family and relatives.
• If there’s no corruption and the economy is good, it would be easy to earn money.

Stop blaming others. Our capability to earn and save money depends on how we manage our finances. Even if we have familial duties, there will always be a way to cope. Furthermore, believe that opportunities exist even amidst political turmoil and bad economy. It’s just a matter of looking in the right places with the proper mindset.

• I have to be good in math to handle money.
• I must work hard if I want lots of money.

Personal finance is not rocket science. How many times have your heard how some of the richest and most successful people on earth are actually school dropouts? Academic excellence helps but it is not a requirement to be rich. Moreover, I believe that hard work alone cannot make you wealthy. You also need to work smart and make your money work for you. Learn how to invest, leverage your resources and create passive income.

• You need money to make money.
• I’m not comfortable with owing anybody money

In my previous article on office income opportunities, I mentioned a colleague who sold homemade soaps in the office. Did you know that she was getting her products on consignment? That’s proof that you don’t always need money to make money. Furthermore, you don’t always need to use your own money, you can opt to invest with OPM or other people’s money. Don’t be afraid to borrow and go under credit specially if you’re going to use the money to buy an asset and make a profit. Simply learn how to minimize risks and leverage on good debts.

Look at that bill once again and ask yourself, “What does money mean to me?” If you find yourself saying some of the perceptions above, then it’s time for you to change your beliefs and prepare to attract more money into your life.

For more mindsetting articles, subscribe to Ready To Be Rich.

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Photos courtesy of Steve Rhodes and cheapblueguitar

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