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Adam Khoo's Articles in Wealth Building

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How To Magnify And Multiply Your Wealth Let me give you an example. Let's compare a doctor and Madonna. Now who creates more value? Who creates more value per person? I would say a doctor because a doctor can save your life, a heart specialist. Why Most People Do Not Become Rich The first reason why a lot of people find it difficult to make money is because there are many people out there who look for the quick and easy way to make money. Creating Value With Your Time Besides taking steps too increase your value, you must also increase the time you spend creating value to boost your income. If you are self-employed, then you are usually paid by the hour or by the job. So obviously, when you work longer hours and more days, your income will increase! The Way Millionaires Really Live Many people have the wrong idea about what being a millionaire is all about. Many also equate instant gratification with happiness. They believe that millionaires live lavish lifestyles and all that self-indulgence brings lasting happiness. The Power of Designing Your Destiny Let me illustrate to you a very well known example of the power of goals. In 1952, there was a research study done on the impact of goal setting on the graduating batch of students at Yale University. Eliminate Consumer Debt if You Want to Be Rich The first step to take to increase your savings is to start reducing your expenses. So what is the first expense you must reduce and eventually eliminate? It is the interest expense you pay on consumer debt. Modeling the Worlds Greatest Investor How do you achieve excellence in any area within a short period of time? The key is through modeling. The Power of a Wealth Builder Group In the classic best-selling book 'Think & Grow Rich', Napoleon Hill found through intensive research that the five hundred richest men in the world all had one thing in common, they all belonged to a strong support group of like-minded individuals where they received the knowledge, advice, resources, contacts and emotional support to succeed in their creation of massive wealth. How To Allocate Your Money for Maximum Returns & Minimum Risk So with all these money multiplication strategies, where should you put your hard earned savings? How should you allocate your funds to generate maximum gains yet minimize your risks? 6 Ways to Massively Reduce Your Expenses & Increase Your Savings Well it's time to study the expense column very closely and identify where you can cut your expenses. You will be surprised to know that we can easily do without between 20-30% of our monthly expenses. How to Massively Increase Your Income I am sure that no matter where you are in your career, you desire to create more income for yourself. For most people, only two options come to mind. Either they work much harder in their job and hope their boss notices their efforts and gives them a raise of 5-10%, or quit their job and find another company that will pay them 10-20% more. It is Not the Number of Hours You Work... Now you may be saying to me, 'I am already working eighteen-hour days! How much harder can I possibly work?' Or if you are working for somebody else you may be thinking, 'This does not apply to me. As an employee, my hours of employment are fixed from 9am to 6pm. I do not get paid more for working longer hours.' How I Was Losing $4,900 a Day Doing the Wrong Work Let me give you an example of how I lost a potential $4,900 a day when I first started out in the training business by spending too much of my time on the wrong sort of work. Like every small start-up business person, I was a one-man show. Naturally, I had to do everything myself. How to Translate Value into More Income? If you are self-employed, then creating more value will automatically translate into higher profits & income. However, as an employee, tripling the value you create is no use unless it translates into a higher price tag. How to Double Your Company's Profits in Less than Six Months Many have people have asked me, 'what can I do to increase my company's sales and profits?' Whether you are an entrepreneur or an employee, I am going to share with you a formula that you can use to double the profits of your department or company within less than six months. I call this the Profit Multiplication Formula. Millionaire Habit 2: Be Proactive In my live Wealth Academy seminars, I usually do an exercise where I get people to stand up, go to as many people as they can and introduce themselves. The True Definition of Wealth Before you can be truly wealthy, you must first know what wealth really means. Again, many people think that a person's wealth is defined by how much he earns, by the clothes he wears, by the house he lives in and by the way he lives. We now know that this is not at all true. How to Spend 100% of Your Time On High Value Activities You may be wondering to yourself, 'But, I am an employee! How can I choose to only do work that is of high value? Who am I going to delegate it to? Many of the low value work like checking emails & paperwork are still necessary, they must be done!' Millionaire Habit 6: Acting With Integrity Many people have the perception that the fabulously rich and powerful are dishonest and unethical. And who can blame them after hearing stories of how millionaire executives rip off their shareholders in scandal after scandal on Wall Street? What Determines A Person's Income? Before you can increase your primary source of income, you must first understand what determines a person's income. Why is it that one person is paid $3,000 a month while another person is paid $30,000 a month? Money is a Game... You Must Learn How to Play It You see, making money is a game. If you learn the rules of this game, money will flow into your hands. If you do not play by the rules, you will struggle all your life financially despite working very hard. How the Rich Manage their Cash Flow Once again, the key difference that sets people apart in their ability to create wealth is not just how much they earn but more importantly, how they manage the cash that flows through their hands. Linear Income Versus Exponential Income Growth When you focus only on increasing your value per hour and the time you spend, your income increases in a linear fashion. There is a limit to how much you can earn a month, since there is a limit to the number of productive hours you can work. You are literally just selling your time for money. Millionaire Habit 3: Take 100% Responsibility Wealth habit number three is the habit of taking responsibility for your results and wealth! Unfortunately most people choose to adopt the victim's mindset of giving excuses, blaming and complaining. Why Madonna Earns More Than You Let me pose you this question. Between a pop star like Madonna and a heart surgeon, who creates greater value in a person's life? If I Had Gone To An Elite School, Would I Be A Millionaire Today? Recently, someone sent me an email saying that his life was full of problems. Everytime he solved a problem, a new one would emerge. 'Why can't goals be easy to achieve?' 'Why can't things go exatcly the way I planned?' 'Why is it that everytime I want to acheieve something, something will always go wrong?' 'Why Must Life be Filled with Adversities?' Millionaire Habit 5: Love What You Do The most common question that people ask about getting rich is, 'What is the best career or business that will make me the most money? Should I go into education? Food? Insurance? Network marketing? Heathcare? Options trading? Property? What's the best industry to be in right now?' Why You Are Not Rich Yet Let me first ask you this question, 'why are you not rich yet?' 'What has prevented you from getting the wealth you deserve?' Millionaire Habit 1: Always Exceed Expectations Those people who always exceed expectations are known as Value creators and they end up as the rich and wealthy of our society. Do Exactly As Expected and You Will Soon Be Out of Business As an entrepreneur today, you must do a lot more than expected in order to run a successful business and create wealth! Commanding the Highest Price Tag There is available a veritable treasure chest of strategies to massively increase your income and get you on your way to financial abundance. 7 Steps to Financial Abundance Is there a formula for wealth creation? Do all self-made millionaires take the same steps to amass their fortunes? If we were to do an in-depth study of how self-made millionaires think and act, would we find some common clues that we can learn from? The answer is yes. Debunking the Myths of Money The truth is that many of these beliefs and attitudes that some people hold have about money are nothing but inaccurate generalizations and excuses that keep them from living a truly a happy and wealthy life. Are You Living Like A Prostitute? Recently, someone came up to me on a plane to KL and looked rather shocked. He asked, 'How come a millionaire like you is travelling economy?' My reply was, 'That's why I am a millionaire.' He still looked pretty confused. Should I Take Charge Of My Life Or Should I Let God Take Charge Of It? Recently I had a participant of mine say that he felt that my teachings contradicted his religious beliefs. He said that his religion advocated that he should let God choose his destiny and lead his life. Whereas in my seminars, I teach people to take charge of their own lives and their own destinies. Millionaire Habit 7: Be 100% Committed There is a very big difference between wanting to become a millionaire and being 100% committed to becoming a millionaire. How to Massively Increase Your Income I am sure that no matter where you are in your career, you desire to create more income for yourself. For most people, only two options come to mind. The Four Levels of Wealth There are basically four levels of wealth you must aim to attain. How to Increase Your Value Over the last few years, I have interviewed people who were among the highest income earners in their industry and people who were the average income earners. The Biggest Lie Ever Told About Wealth Why is it that 90% of the population find it so difficult to become rich? It is because all of us have been told the greatest lie of all, the lie that has been keeping us from becoming rich. Before you can ever become wealthy, you must first discover the truth about wealth and remove the wool that has been pulled over your eyes for way too long. Strategies to Scale Your Value Immediately So, let's now come to consider how you can begin to massively magnify and multiply the unique value that you have? How can you create multiple streams of recurring income for yourself? Your Time is Money Besides taking steps too increase your value, you must also increase the time you spend creating value to boost your income. Millionaire Habit 4: Delayed Gratification What keeps most people from becoming rich is the habit of wanting instant gratification. Instant gratification is the habit of always wanting to enjoy now and not having the patience to wait for future benefits. As a result, these people spend a lot more than they invest. The Greatest Money Making Asset That Will Make You A Fortune So what is this one asset that all of us already have at our disposal? No, it's not your double degree, MBA or PhD. from the best universities. And no, it's not the inheritance the 'lucky' get from rich dad, rich uncle or rich grandma to kick-start their business.

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