Closing Down a Business

Today marks a new end and a new beginning for me. Today marks the 2nd business that I started and failed. The first one was acceptable. I closed it because I wanted to focus on this 2nd business. But this 2nd business has a lot of mistakes that I think I needed to write down to further reflect on.

This business was started by me and my sister. It was her idea to put up this kind of business (I will not disclose what kind of business it is). In collaborating with our skills. Me in tech and she on service. It was great from the start. We have a good manager, my youngest sister. Which seems to love her job as well.

The mistakes happen in chains. My younger sister got married. Had a child and quit the job. My business partner fill in for the job. But this is another mistake. She is not a good manager.

While I expand the business to other location. She, hides the fact that she don't open shop. Going on leave without a memo. Making the business suffer. Never tells me that some of the machines, critical part of the business, are failing to which I could repair because its my job. And she is rude to the customers.

I don't want to be pointing fingers why the business fail. I could have known better. But theres only a few things you can do to fix a broken business when all the little failings piled up.

I can only conclude that, do not go into business with family members. They tend to take advantage of the fact that you could never fire them.

I Stopped with the Dividends Received

I don't want to stop, because in a way, I keep track of the dividends I receive. But the broker suddenly stopped giving out notifications when I receive the dividends.

Also, I'm abandoning this experiment. I made complete overhaul of my portfolio and only maximizing the dividend yield and growth rather than trying to predict what company will be included next the index. I'm not playing that game anymore. I would like a more passive approach, like the original plan of this blog.

A year ago, I achieved my target goal of P50k a month passive. But due to some problems and some sources of income expiring, my passive is now back to P20k / month.

I realized that its more important to have a sustainable income that could last for a lifetime, rather than trying to chase high risk and high yielding investment. Because a more sustainable income is more predictable, reliable and helps to keep you sleep at night.

Dividend Received 14,000.00

Gross Amount (Php) : 14,000.00
Less Withholding Tax (Php) : 1,400.00
Net Amount (Php) : 12,600.00