For Jeffrey Yu, life is all about learning. With companies BizWizresources.com and thelearningaddict.com, Jeffrey Yu places a strong importance on continuous growth and improvement through learning. Get to know more about Jeffrey and learn from his experiences. Here he shares his personal philosophy on learning and how he earns from what he learns.
His early learnings:
When I was a kid, we were financially blessed because we were into toy manufacturing. I had a lot of toys. Unfortunately my mom passed away when I was 7. We got hit by financial crisis in 1998. My father closed our toy manufacturing business. Before I graduated, when I was in 4th year college, my dad passed away. Sad moment. Afterwards I started to apply to companies. I was fortunate to have good grades, above average. However I hit a problem. When I was applying for a job I always failed in the job interview. I asked myself, what’s the main problem, how can I solve this? I realized I was poor in communication. I hated English in high school and college. It was my hated subject. Eventually, I said to myself I needed to learn more about communication and grammar. After that I enrolled in Speech Power, had other trainings, and Toastmasters. I was able to gain confidence, to get a job. I realized how learning is a very powerful experience. I can use what I have learned to achieve something that I want. Then someone introduced me to the book Rich Dad Poor Dad from Robert Kiyosaki. It’s very inspiring. From then onwards I regained that business mindset, that I want to have my own business. I worked here in the Philippines for 3 years, then I went to Malaysia to work. Since then, I have more purchasing power. I kept on attending trainings. That’s how my company BizWiz started. I attended a lot of trainings and tested it. I also have a small food distribution business with my sister and a small warehouse which is a result of Rich Dad Poor Dad. I was able to rent a small warehouse and gain some passive income. Eventually, I told myself I could quit my job in Malaysia and start an events company which I'm very passionate about. That's how BizWiz was born.
What his companies are about:
Biz Wiz started with a concept, Biz means business and Wiz means wizards. It's a concept using entertainment and some magic tricks in learning. During our workshops, participants can gain knowledge faster and retain it easier. We have a lot of simulation based training. One of our simulation is B.E.S.T. workshop that stands for Beyond Entrepreneurship Skills Training workshop. At the start of registration, participants will be receiving playing chips representing money. Their objective is to grow chips in the day’s workshop. A lot of simulation like buy and sell, a lot of props that is magician related, magician hats, playing cards. It’s fun and at the same time they get to know more about how they behave in business situations. We share information on what we have learned, what we have tried, and encourage them to be business people as well. Entrepreneurs can help solve a lot of problems. I also have web development company. We do Web solution for small and medium enterprise. We provide hosting as well for companies. We design logos for them. Aside from that we also have food distribution that we distribute to hotels restaurants and hospitals.
First things he does when waking up:
When I wake up I start with a prayer read the bible, do some exercises such as push ups. This next one is something not a lot of people do. I put money in what I call a financial freedom jar. I put at least 1 peso, 5 pesos. I pay myself everyday. That gives me the feeling that I have money. I pay myself because I value myself first.
What he enjoys most about work:
I love meeting with people, interviewing them, building relationships. I get to learn more about the other party. I get to realize there are so many opportunities out there, that I can partner with other people and think of new ideas with them. That’s what I most cherish.
Challenges encountered and how he solved them:
I love challenges! Marketing skills, not much sales not having a team overall, lack of leadership skills, which you can learn. What I've learned during this downtime, my emotion gets really affected and attracts more problems. So what I did was I just slowed down and stopped to see the beautiful things around me. The blessings around me. Sometimes I opened my bank account. When I started to do that, I realized as well that my family and friends support me. I realize so much blessings that makes me positive and turns perspective on a different angle. Once I had that experience, amazingly the business turned on a positive note as well.
His important lesson about money:
I realized once I made an amount, I can make it again, duplicate it. It’s like money gets higher and higher and higher once I do something. I can duplicate it. Initial target is 1,000 pesos for passive income. I can increase it to 2,000 to 4,000. To save money the right way, when you have it, split it. Put something for yourself first. In any of my business ventures even if I get P1,000, I’ll split it up; P500 to my financial freedom jar and 500 for further investment. It's important to have that discipline in saving, paying yourself first.
How he relaxes and takes time off from work:
I love traveling and going to different countries. If there isn’t much budget. I just go to quiet places. You may say it’s weird. I go to cemetery, just walk around in the morning, not the evening. I try to reflect. It's a quiet place. A cemetery doesn't have much people, just a lot of dead people. I get to reflect more about myself. Cemetery is near our place. So, it's easy access. I love adventures. I also get to do trekking and diving. I’m also a scuba diver, so when I'm underwater I have no worries and no problems.
What he enjoys about single life:
Single life. I get to do what I like and not think much about other people, my partner, less responsibility. I'm responsible to myself.
What he looks for in a partner:
I'm looking for someone who can help me in my endeavor and I can help her in her chosen career, chosen path. I need someone very supportive. I'm looking for someone positive and that we can grow together.
When it's time to settle down:
To settle down, financial stability is important in having that plan. Settling down is not just by yourself. Money is not to spend for yourself, it’s also for the family, the kids and their future.
His secret to success:
Learning is big part of it. Discipline is very important. It's good to build the habit of handling money well and having positive atmosphere every time. At the same time, integrity towards people I work with, transact well with my customers. Doing all those in the long run helps me in my business.
His message to others:
Learn, read more books. Get some inspiration from people in business. I know you’re very busy in your corporate world. It's a good thing to learn from someone and get inspired. Once you’re inspired, you get to go in action and achieve something, when you apply what you have learned. You'll probably be tested and hit some stumbling blocks, just keep at it and win.
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