Earn Money as a Freelance Writer

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This week’s post is an interesting one. Only few Papua New Guineans have tried this way of making money. It’s about making money as a writer.

Here comes the million dollar question: Can you make money as a freelance writer? The answer is of course.

Your second question maybe;

How do you know? Well for us, our very own Ian Hetri is a veteran freelance writer with a Californian based site called Hubpages. Ian has been writing and money on Hubpages for almost three years.

He has also contributed to newspapers and magazines as a paid contributor.

There are two approaches you can take;

  1. Be an online freelance writer
  2. Sign up and be contracted writer in local magazines and newspapers

Write Online

There thousands of sites that call for freelance writers to contribute their articles and get paid. Most of these sites normally pay according to the amount of traffic you generate on your articles. Sites like Hubpages and Squido allow you to join and post your articles for free. This way, you can make a passive income monthly. You can also sell your articles directly to website owners and bloggers who need content for their sites.

The only thing that you need to master is on how to find clients and marketplace where you can use your skills to earn cash. So, try reaching people, searching marketplaces, network with fellow writers and read a lot for more information. Study SEO too so you will understand how relevant is the content for search engines like Google. Analyze how things are connected to each other and why money is involved. This way, your idea about making money online will become wide.

Write offline

In the local offline market, there are small newspapers like Sunday Chronicle and Pacific Business Review as well as magazines like Stella and New Age Woman who you can approach if you have the type of article they publish. The whole idea is to produce articles that are relevant to their readers.

Why should you write?

Because it dtips-for-writers1oesn’t take a lot of effort. You can easily be making some good bucks without breaking a single sweat and that is so cool.

At first, many people tend to doubt to things that answer on how to make money writing. But if you have the right information from trusted people, then you don’t have to worry about. Keep educating yourself by tracing successful people who are making good money from writing. Then do the action and repeat the whole process. If you fail, don’t stop until you get there.

More Money  Making Ideas on Hubpages

1. Make Your Money Grow as a Writer

2. 8 Simple Ways to Earn Income in PNG

3. Make Money Writing for Hubpages

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9 Steps to Investing in Stock Market

Ian Hetri

Ian Hetri

Aloha (greetings) and it’s good to be back home after a long stay in Hawaii. As my second book Grow Wealth Retire Wealthy approaches publication, I am running paid tutorials particularly on Stock Market.

Online for those outside Port Moresby and one-on-one for those in Port Moresby. That is so nobody misses out on this opportunity.

My tutorial now covers “9 KEY STEPS TO INVESTING IN STOCK MARKET”. The 9 nine steps will take you from no one to someone who knows and confidently invests in shares here and abroad.

But first always remember famous risk by my mentor and stock market guru and billionaire Warren Buffet;

“Risk is not knowing what you are doing”

Remember! The training is not about me and how much I know. It is about you and how much you want to know. And if you are so desperate for knowledge, you will be surprised how much you can learn by yourself in very short time. If you want to LEARN, have lots of FUN and make some serious MONEY, pay your non-refundable training fee of K50 to my account below and send me scanned receipt here. I’ll kick off you training as soon as I receive your payment.

Email me on hetriian@gmail.com to register for your session.

Those who previously did my email training are invited to catch up with me in person (Pom) to discuss their progress with me.

At your service

Confessions of an Economic Hit Man by John Perkin-A brief review

Have you read this book? Well if you are from a third world country, then it’s worth your time reading this book. Written by an American author, John Perkin, the books seeks to explain how rich, developed countries use what he described as Economic hitman to convince the political and financial leadership of underdeveloped countries to accept enormous development loans from institutions like the World Bank and USAID.

Saddled with debts they could not hope to pay, those countries were forced to acquiesce to political pressure from the United States on a variety of issues.

Perkins argues in his book that developing nations were effectively neutralized politically, had their wealth gaps driven wider and economies crippled in the long run. In this capacity Perkins recounts his meetings with some prominent individuals, including Graham Greene and Omar Torrijos.

Perkins describes the role of an EHM as follows:

Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, the U.S. Agency for International Development (USAID), and other foreign “aid” organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet’s natural resources.

Their tools included fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization.

When this highly controversial book was published in 2004, some critiques argued that Perkins was “a “conspiracy theorist, a vainglorious peddler of nonsense, and yet his book, Confessions of an Economic Hit Man, is a runaway bestseller.

As controversial as it seem, many of the arguments are true in the context of third world countries.

Global Leadership Universals: Papua New Guinea Context

Ian Hetri –Leadership Fellow at East West Centre, University of Hawaii

Through an extensive reading on global leadership, with special interest in globalization and the global power and capital shift, I have come to subscribe to the notion that throughout the world, languages differ, but the business questions are the same. In French and Japanese, Hebrew and English, executives are asking, “How can I survive and thrive in the borderless, global marketplace?” Isn’t that the same with every government in the world?

After listening to today’s lecture at East West Center, University of Hawaii, I see two lessons, emerging;

First, there are leadership universals that every executive and manager needs to practice in order to be world-class at home and abroad. The second defied conventional wisdom: in the borderless economy, culture doesn’t matter less, it matters more.

In Papua New Guinea and around the world, business leaders apply their own experiences — personal, professional, and cultural to drive change. That is lacking in most of Papua New Guinea’s political leaders.

I have listed below four critical global literacies that Papua New Guinea political leaders need to seriously consider.

The Global Leadership Universals

* Personal Literacy — understanding and valuing yourself
* Social Literacy — engaging and challenging people
* Business Literacy — focusing and mobilizing your business
* Cultural Literacy — valuing and leveraging cultural difference

 In later posts, I will explain each of the above critical global leadership universals.

The question now is really, how we can effectively model this global leadership in Melanesian context, knowing fairly well the ideological variations that exist between Western and Melanesian leadership styles.

Papua New Guinea political leaders need to develop ways to see global challenges and opportunities, think with an international mindset, act with fresh global-centric leadership behaviors, and locally mobilize the capitals or resources to maximize its developmental outcomes?

This is a critical question to ponder. In the meantime, let me give you five types of capital available in Papua New Guinea and elsewhere around the world that can be used for better or worse.

5 types of capital

Natural Capital is any stock or flow of energy and material that produces goods and services. It includes:

  • Resources – renewable and non-renewable materials
  • Sinks – that absorb, neutralise or recycle wastes
  • Processes – such as climate regulation

Human Capital consists of people’s health, knowledge, skills and motivation. All these things are needed for productive work. Enhancing human capital through education and training is central to a flourishing economy.

Social Capital concerns the institutions that help us maintain and develop human capital in partnership with others; e.g. families, communities, businesses, trade unions, schools, and voluntary organisations.

Manufactured Capital comprises material goods or fixed assets which contribute to the production process rather than being the output itself – e.g. tools, machines and buildings.

Financial Capital plays an important role in our economy, enabling the other types of Capital to be owned and traded. But unlike the other types, it has no real value itself but is representative of natural, human, social or manufactured capital; e.g. shares, bonds or banknotes.

Concluding remarks

Papua New Guinea has over the last few years enjoyed an uninterrupted economic growth over and is predicated to reach a record high GDP (24 percent) in 2015. Despite the boom, the country remains underdeveloped with no tangible developments reaching the people. Unless the political leaders know how to tap into and fully utilize other capitals, rather than only exploiting natural capital; Papua New Guinea is sitting on a time bomb. Why do I say that? Well hell! When all natural resource become exploited, will your great grandchildren be dancing

Super-Duper rich entrepreaneaurs who created their wealth using their spare time

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Today we wish to share a truly remarkable post with you. It’s about how some super-duper rich entrepreneurs created their fortune using their spare time.

The key phrase is SPARE TIME.

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This is the international version. Our very own, Papua New Guinea list of wealthy that created wealth in their spare time will soon be published here so don’t you go away. Exciting hey?

The reason why we wanted to do this blog post is that many Papua New Guineans just waste their time without realizing they do.

If you think we are making this up, please take a walk down the street and see so many of them just sitting, chewing buai (betelnut) and chatting away as if no-one cares.

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We aren’t trying to say that’s not a good thing to spend time with friends and family as PNG is a Melanesian country. What we are trying to say is that too much of wasting time can be potentially toxic, deterring you from achieving your future dreams.

On a serious note, this habit of unnecessary wasting of time needs to be changed in PNG. We waste a lot of time which could have been utilized to better our individual lives.

At the end of the day, most people end up blaming the government of the day for not delivering the much needed changes. This is crazy folks. The government, the church nor your parents hold the key to your future. It’s you who hold the key to your life and future.

Unless you act now and stop wasting precious times of your DAYS, you will end up just like everybody else who can complain to the best of their ability but will never do anything and amount to nothing. Oh and seriously with nothing better to contribute to the society.

No! You shouldn’t be one of the statistics. You are meant for greater things so stop wasting time and take control of your life. You will be amazed how much you can achieve in a day, if you cut down unnecessary time wastes during the day.

“You’ll only be as rich as how you spend your spare time”

~Ian Hetri

List of the rich who created wealth using their spare time

  1. Mark Zuckerberg created Facebook in his spare time while in his dormitory at Harvard University.

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  1. Bill Gates and his founding partner, Paul Allen, began the Microsoft project in their spare time.

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  1. Sir Richard Branson of Virgin began creating wealth from his child hood at age 16 when he left high school to publish a student magazine he created in his spare time.

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  1. Google was a pet project which Larry Page and Sergey Brin started in their spare time.

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  1. Warren Buffet began creating wealth in his spare time by selling packs of chewing gum at a tender age of six. From each pack he sold, he made two cents profit.

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The simple question of ‘how did   these people become extremely successful?’ is answered with another question; “how do you use your spare time?”

Photo credits: All pictures used are credited to Google.picts

Taiwan seeks to help build our SME sector

Taiwan has the potential to help and reinforce the progress of Papua New Guinea’s economic transformation toward full economic independence, Taiwan trade mission representative Daniel Hu says.

Over the recent years, Taiwan Trade Mission in Papua New Guinea has brought scores of successful Taiwan entrepreneurs to PNG for them to share their experiences with PNG entrepreneurs.

In a response to a question raised by PNG Loop, Mr Hu says Taiwan is committed to helping PNG government build a successful SME sector.

According to Mr Hu, Taiwan has more than 1.2 million SMEs, accounting for 97.7% of all enterprises in the country.

Mr Hu says: “SMEs are the pillar of Taiwan’s economy … SMEs in Taiwan employed eight million people, making up 78% of the island’s overall employment.”

“Taiwan can be of help as PNG moves on the path of national development, aiming to transform the country from subsistence farming into specialised and commercialised farming, from a basic local economy into a newly-industrialised economy.”

Mr Hu adds  “I just ‘bring Taiwan to PNG’ with a distinct objective to make it more convenient for PNG’s indigenous businessmen and local SME to select, experience and choose the products, technologies and partners from Taiwanese manufacturers under one roof in Port Moresby and Lae … thereby, saving them the cost without burdening them to travel to Taiwan.”

Travel and tourism to boost GDP

The contribution of travel and tourism (T&T) to gross domestic product (GDP) growth in Papua New Guinea (PNG) is expected to rise further in 2014 and beyond.

This is revealed by World Travel and Tourism Council (WTTC) that studied the contribution of travel and tourism to GDP in selected countries around the world.

“The direct contribution of Travel & Tourism to GDP reflects the ‘internal’ spending on Travel & Tourism as well as government ‘individual’ spending,’’ the report says.

The report highlights that spending in this case refers to spending by government on Travel & Tourism services directly linked to visitors, such as cultural (for example, museums) or recreational (such as national parks)” WTTC states.

The report adds; “The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in National Accounting, of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure and recreation services that deal directly with tourists.

The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by ‘netting out’ the purchases made by the different tourism sectors.

This measure as the report states is consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite Account.

According to the report, the direct contribution of Travel & Tourism to PNG’s GDP was PGK369.5mn (1.0% of total GDP) in 2013, and is forecast to rise by 4.5% in 2014, and to rise by 4.3% pa, from 2014-2024, to PGK589.1mn (1.0% of total GDP) in 2024.

Govt expects surplus in 2017

Data from PNG Treasury, Bank of Papua New Guinea and World Bank says that the government of Papua New Guinea is expected to return its deficit budget to a surplus in year 2017.

This forecast comes about despite weakening mineral revenues expected in 2014 and 2015. As reported earlier by PNGLoop, the government also expects a marked slow-down projected for the non-mineral economy.

“The government expects to achieve this partly through somewhat faster growth in revenues and grants in 2013-2017 than during the commodity price boom of 2008-2012”, says The Papua New Guinea Economic Briefing, a report prepared by World Bank states.

The report however states that the key to the government’s balanced-budget projections will be cutting spending, at least in real terms.

“Overall these plans are only modestly ambitious, with the government projecting real per capita spending (which abstracts from the impact of both inflation and PNG’s 2½ percent to 2¾ percent annual population growth) in 2017 to still be at 2012’s historically high levels, although this gradually-declining trend would be a sharp reversal of recent years’ rising spending” the report states

The report adds “Still, achieving these cuts may be a challenge: while some of the new spending announced in the 2013 budget may be transitory (eg, preparing for the South Pacific Games that PNG will host in 2015), most new expenditures are likely to be permanent.

“The tuition fee subsidy, if implemented well, is likely to do much to support human development outcomes in PNG, plus it would be politically difficult to withdraw.

PNG’s own history through the 1990s and early 2000s shows that transfer for district grants and to local governments are very difficult to cut, even in times of extreme fiscal stress.

The report states that the government instead is looking to cut spending by national departments for service provision between 2013 and 2014, and to hold total spending on personnel at 2014 levels through to 2017, and transfers to provincial governments at 2013 levels through to 2017. 

Treasury silent on Govt domestic borrowings

The government of Papua New Guinea earlier said it will; finance its current deficit through domestic borrowings. This is according to the budget documents PNGLoop has from the 2013 budget session.

However, it seems the government will be relying on the revenue from PNGLNG gas to service that deficit budget.

The Treasury however remains quiet on the government’s domestic borrowings, which of course has been problematic in the past.

The World Bank country report cautions: “The budget deficits will raise debt to around 35 percent of GDP by 2014, compared with gross public debt near 25 percent of GDP in 2012.

“In 2015, the government expects that a 26 percent increase in nominal GDP (as production at PNG-LNG starts) will return the debt-to-GDP ratio to below 30 percent of GDP.

“With the projected temporary increase in the debt-to-GDP ratio, the government is expected to revise the Medium-Term Debt Strategy (MTDS), from the current 30 percent ceiling, to target debt-to-GDP below 35 percent in 2013 and 2014, before returning the target debt ceiling to 30 percent of GDP from 2015”

Importantly, given the size of off-balance-sheet liabilities, the revised MTDS also targets capping the government’s gross liabilities at less than 60 percent of GDP.

These targets will act as the key medium-term fiscal anchor, limiting the size of deficits and scope to accumulate liabilities through off-balance sheet transactions.

Meanwhile the new medium-term fiscal strategy focuses more on shifts in the composition of spending, as well as the longer-term goal of returning the budget to balance by 2017.

How Does Stock Exchange Work? A Look At Port Moresby Stock Exchange

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This is another important question we often get. When we started initially, we also asked that same question so its OK. You are not alone if you are asking that same question. As a matter of fact, this question led us to commit time to study and understand how Papua New Guinea’s exchange called Port Moresby Stock Exchange (POMSoX) works.

What we have discovered is interesting as it is exciting. Oh and can you believe this? It is simple. Yes it’s simple. More simple to understand. Problem is you have been lead to believe that investing is something only the already rich and those with super-duper financial IQ play it.

Seriously speaking, that’s a great lie you have come accept, believe and made it your gospel that we are damn sure you spread to others as well.

After completing this post, you will realize what we mean when we say it’s simple how a stock exchange operates. It’s really those crazy, highly fancied technical jargons of stock market that really scares potential investors away before they even give a serious thought about investing in shares.

Our stock exchange as we mentioned earlier is call Port Moresby Stock Exchange and as the name says is based in down town Port Moresby. There office is located the corner of Champion Parade and Hunter Street and in Level 4, Defense House. Use this description to locate them next time you are in town.

If you are away from Port Moresby, you can get them on phone number (675) 320 1980 or checkout their website on www.pomsox.com.pg or better still email them on pomsox@pomsox.com.pg

So who does Port Moresby Stock Exchange work?

Port Moresby Stock Exchange is a market place. Like Lae main market. What do people do in Lae market or Gordons or Kokopo market? People go to buy and sell right? Lae main market has a building under which buyer and sellers go to buy and sell. Same to Gordons or Kokopo or any other big markets around the country. In those markets, buyers and sellers have to be physically present to either buy or sell.

Now in Port Moresby Stock Exchange, people (investors) be it companies or individuals buy or sell shares. Read our post What Are Sharesif you are new to share investing.

Unlike the fresh produce markets like Lae, Gordons and Kokopo as used in the examples earlier, in Port Moresby Stock Exchange, buyers and sellers of shares don’t have to be present physically to buy and sell their shares.

Instead, the shares are bought or sold only through two stock brokers namely BSP Capital and Kina Securities. You cannot buy and sell shares at Port Moresby Stock Exchange by yourself.

Port Moresby Stock Exchange opens during fixed hours each business day from 10 am to 4 pm where broker buy and sell shares on behalf of their clients (investors).

Therefore, in order to buy and sell shares at Port Moresby Stock Exchange, what you need to do is to open a brokerage account with either BSP capital or Kina Securities.

These stockbrokers will charge you some fees every time you buy or sell. That is how they make money. How much you buy is really up to you. All we can say is start small and gradually build up. Don’t wait for the big BANG to come so you can have enough money to invest. The big BANG for many never comes.

A little note from us: Since we provided this information for FREE to you why don’t you share our good will and share this article with your friends on Facebook, Google+ or Twitter if you are in one.