Mike O’Hagan
He gets more done in the morning…starting at 4am.
His mind is most fertile in the early morning.
Conventional teaching knocks out the entrepreneurism in you.
He looks at a product and if it is good he scales the product.
Build slowly…bootstrap.
Aim for lifestyle.
Entrepreneurs can restructure when there is a downturn. Committees cannot.
Offshore as much of the company work as possible.
The Philippines is the third largest English speaking country in the world.
The Philippines has 107 million English speaking workers. CPA’s work for $100 a week.
There are 1.2 million Filipino workers that work in American businesses.
The world has gone flat. Globalization has taken over.
Cloud computing can let you transfer most of your work.
The trust factor is coming back instead of contracts.
In lawsuits, there are no winners.
Hong Kong and Singapore are the flavors of the month for running a company because they have low taxes and safety from lawsuits.
You only pay tax on what you bring back into your own country.
Placing corporations in Hong Kong is a great asset protection strategy.
To start a foreign corporation makes sense after 50k profit a year.
Think globally…the next move will be selling to the Chinese, especially organic products, weight loss powders etc.
Chinese don’t trust their own food.
Chinese will buy original products, not knockoffs.
Hire Filipinos for website building, accountants etc.
Several ways to hire people offshore.
Staff leasing
www.odesk.com
Buy from China through AliBaba.com
The Philippines is the country of choice to work in
88% Catholics
107 million English speakers
High unemployment
Visit www.mikesmanilatours.com to learn how to set up a Filipino company.
Training on the do’s and don’ts of global sourcing.
Big cities like manila are best for very experienced tech workers.
Small towns are better and cheaper in most cases.
One of the secrets is to assemble your workforce in one place.
You could start a business tomorrow in the Philippines for less that 10k…that includes everything!
Bootstrap your business, systemize, and apply what you’ve learned.
Try many things and ways of doing things. When you hit on something, systemize it.
He started his 30 million dollar company with $200 dollars.
Not knowing what you’re doing in a business can cause solutions no one has seen in that business.
Find the gap in the market and find the solution
Make it in the East, sell it in the West.
You can roll around in your RV and run your business from your computer.
To run a successful kickstarter campaign, you need to hit it real hard the first week…have everyone contribute that week.
Set your business so you don’t have to work it. Don’t be lazy but don’t get trapped in a business.
Service businesses are the easiest to start offshore.
You need to see how it’s done in person and you will catch on much quicker
If you have a product, build a false website that receives credit cards. Don’t run the credit cards, and if you get enough orders, then go and make the product.
Opportunities are in everyday products. Find a problem and bring a solution
If a business is failing, don’t keep riding a dead horse. Get off it, and find another.
We are the sum total of our opportunities. The more opportunities, the more you’ll be successful.
One way of testing a product is taking it to stores to see if they’ll buy it.
Corporate business models do not work with small startups.
Try three things in three different ways all at the same time. Pick the one that works best.
Change is the greatest opportunity we have today.
Work on your business, don’t work in your business. When he started his furniture moving business, he told others what to do.
Don’t bet the farm. Use your discretionary income.
You learn business from other business people.
The Filipino government will pay the first 6 months wages of a newly hired University graduate.
You don’t need to know your trade to do it. In fact, it will be an asset that you don’t know it.
Don’t go into any areas you know.
Contact Information
‘Google’ Mike O’Hagan
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