How many times have I wanted to throw in the towel and quit my job? So many times to count. But my dilemma was, what would I do if I quit? Find another job, maybe? Oh, wait, I could set up my own business instead. And when I try to think some more, I realize that I don’t have any concrete plan, much less a feasible and sustainable one, to be able to establish a business.
Being a breadwinner of my family, I had relied on employment to earn a living to be able to help out with my family’s needs. But there was a time when I have determined that it was about time for me to build my savings and emergency funds. Unfortunately, both got depleted as part of the funds was used for my father’s burial and the rest was used when I gave birth and found out that my son had been confined multiple times.
I was not able to rebuild both. In fact, I incurred a lot of debts when I became a Mom as I was not financially prepared for the medical expenses that my son requires. Having a child with special needs means special medical attention plus therapy session. And both are very expensive. Relying on employment salary alone will not suffice to fund our needs and to save up for emergencies and investments.
As a single, working mom, I have been thinking of finding other sources of income. Quitting my job has crossed my mind several times before but knowing that I am clueless of what to do next makes me take a step back.
This is actually the first principle in Don Soriano’s book, Break Free. It was so timely that this was sent to me because I am already at that point where I needed to make some changes in my life – personal and professional wise.
What I like about this book is, it is written based on personal experiences. Don Soriano shares his story on how he got bankrupt and throughout the book, he lists down the principles that guided him in getting back on his feet. He is now the owner of three (not one, but THREE!) multi-million businesses.
The 8 principles that he has outlined are as follows:
- Don’t quit your job
- Make the best investment
- Money management
- Power of leverage
- The best first step to business
- Law of association
- Understanding financial freedom
- Success is only 20% skill
Sounds a lot? What if I tell you that the book, Break Free, is something that you can read in an hour, tops? You can easily read all about this in one sitting – during lunch break or when stuck in traffic. Interesting, isn’t it? It’s like reading 8 different financial books in one sitting.
Break Free is written in such a way that each principle is well explained and can be easily understood by anyone else. None of those business jargon that are very intimidating to read. And trust me, I’ve read a lot of business books before and those jargon always gives me a headache.
I highly recommend this book to anyone who’s thinking about getting out of the rat race and starting a business but doesn’t know where to begin. But more than that, I highly recommend this book to students who are starting to plan out their future. It is best that they learn this earlier on instead of making the same mistakes that we all go through before realizing that we’ve wasted so much time in figuring out our way to financial freedom.
To get a copy of this book, visit Don Soriano’s Facebook page.
On a side note: my son saw me reading this book one night and he got it from me. Since he still doesn’t know how to read, he gave me back the book letting me know that he wants me to read it. He was listening attentively as I read one whole chapter. We never know what kids can pick up as early as now. Might as well start immersing them in these principles, right? 🙂