By Adam Khoo
You can have all the drive and energy, but without the right
strategy, you will never get what you want. By the same token,
every outcome is possible, given an effective strategy.
For example, imagine yourself as the small business owner of a
fruit shop that makes $10,000 in profits a month. Let's say that
you decided to set a goal of increasing profits to $15,000 a month.
Would that be possible? Probably. You could work a lot harder,
raise prices, increase trading hours, sell on-line or create a
loyalty program.
What if you set a goal of making $3 million a month from your fruit
business? Would it be achievable? Most people would say, 'of course
not, there is no way you can make that kind of money from a fruit
business like that!'
True enough. Making $3m a month from that fruit business is
impossible, if the owner continues to use the same business
strategy.
Yet, if he were to completely change the way he now does his small
localized fruit business, would it be possible?
For instance, the strategy he could use would start by his studying
how to greatly expand his market: he would write a dynamic business
plan, raise capital through investments, invest in R & D to develop
a superior brand of fruit (for eg. Organic certified food products
are seeing phenomenal growth everywhere as people become health
conscious) and widen his range of fruit (eg: offer sun dried fruit
without sulfur, candied fruit using organic sugar, pureed fruit
rolls for kids), support reliable new suppliers, build a franchise
system and then license thousands of business owners around the
world to sell his fruit.
Would it then be possible for him to earn $3 million a month? Of
course it would! With enough flexibility in our strategy, we can
achieve just about anything.
You still wonder how a local fruit shop can possibly expand and go
global? Impossible?
Well, how did a British housewife create some skin and hair care
products in her kitchen using fruits and vegetables and then pit
herself against billion-dollar, heavily advertised international
cosmetic brands succeed nationally and then globally?
She developed the right strategy, which included the right unique
products. This person I am referring to is Anita Roddick who
founded the multi-million dollar chain of Body Shops.
What I have found time and again is that people who are able to
produce exceptional results use different strategies from the
majority.
When I had the opportunity to work with the top 1% of insurance
agents (average yearly income of over $500,000), I found that they
did not just work harder than the 97% who earned less than $50,000
a year.
They used a completely different approach in managing their time,
generating leads, converting sales and creating repeat businesses.
So, taking your cue from the winners, study their strategies. If
you want to be a millionaire, study the strategies of millionaires.
If you want to be a great leader, model the patterns of great
leaders.
>>> Get more business strategies here!
P.S. Don't know who is Adam Khoo? Wanted to know him more?
>>> Get a FREE exclusive interview on how Adam becomes a millionaire at young age...
Sunday, August 5, 2007
Three Major Keys to Powerful Goals
By Adam Khoo
Are you ready to sit down and start designing the kind of life you want? Before we get started, there are three major keys that every one of your goals must have.
They must be:
1) Be Specific & Measurable
The more specific you are, the more focused your mind and efforts will be. Specific and measurable outcomes will lead to effective strategies and actions. If you want your health to improve, you must set specific and measurable targets such as 'how much weight do I want to lose?'
'What pulse rate do I want to achieve'
'what is my targeted body-fat ratio?'
'How many hours must I spend in the gym each week?'
'How many calories will I allow myself to take in a day?'
'How many miles should I run or how many laps must I swim at each session and how many times a week?'
Under personal development goals, you may want to set goals such as...
'What new languages do I want to learn? And to what standard?'
'How many books do I want to read each month, and in what areas?'
You must also be specific about the time frame you are giving to each goal and list a specific date of accomplishment.
2) Passionate and Exciting
Have you ever been so passionate and excited about doing or achieving something that it kept you awake all night? You kept thinking about it every waking moment? Maybe it was your first trip to an exciting new destination. It could also be participating in an important tournament, meeting that special person or planning your 21st, 30th, 40th birthday celebration.
When we are passionate about achieving something vitally important to us, it gives us a level of energy and focus that cannot be matched. It is this level of passion and excitement that we must have for our goal(s), if we ever want to achieve it!
When people ask me, 'Where do you get the energy and discipline to keep writing books, developing seminars and starting new companies?', I reply by saying that I get so passionate and excited about my goals, to the extent that they charge me up continuously.
I sleep, breathe and dream my goals every single day until they are achieved! Then I set a new one, at a higher level!
When people seem to lack discipline or will power, it is not that they are lazy, it is simply because their goals are not exciting enough for them. They are not passionate about what they want to achieve!
Tiger Woods loves to play golf. Donald Trump loves the art of the deal, Steven Spielberg loves to make larger-than-life movies and Bill Gates loves technology and the idea of shaping the world. Even if they had all the money in the world (which they do), they would still be as obsessed with their goals.
So, you must set goals that you are passionate about. How? Simply ask yourself this question, 'Even if I had $10 billion, what would I still want to do and accomplish? What would I be willing to do for free if I had all the money in the world?'
Write down what you are truly passionate about and what comes from your heart rather than just from your mind.
3) Stretch Goals for Quantum Results
Most people I know tend to subscribe to setting for themselves merely incremental goals. Incremental goals are goals that are slightly higher than what you are currently achieving. For example, if you were making $2000 a month in income, an incremental goal would be $2500.
A stretch goal, on the other hand, is when you set for yourself an outcome that is way beyond your current level of ability and skill. If you were making $2000 a month, an example of a stretch goal would be one aiming for $10,000 a month.
I believe that the most powerful goals you can set are stretch goals. This was a key ingredient that allowed me to achieve so much within such a short period of time.
Use these 3 keys and your goals will propel you towards the success you deserve in life!
Want to learn how to set more goals for your life? Click here to check out more...
Are you ready to sit down and start designing the kind of life you want? Before we get started, there are three major keys that every one of your goals must have.
They must be:
1) Be Specific & Measurable
The more specific you are, the more focused your mind and efforts will be. Specific and measurable outcomes will lead to effective strategies and actions. If you want your health to improve, you must set specific and measurable targets such as 'how much weight do I want to lose?'
'What pulse rate do I want to achieve'
'what is my targeted body-fat ratio?'
'How many hours must I spend in the gym each week?'
'How many calories will I allow myself to take in a day?'
'How many miles should I run or how many laps must I swim at each session and how many times a week?'
Under personal development goals, you may want to set goals such as...
'What new languages do I want to learn? And to what standard?'
'How many books do I want to read each month, and in what areas?'
You must also be specific about the time frame you are giving to each goal and list a specific date of accomplishment.
2) Passionate and Exciting
Have you ever been so passionate and excited about doing or achieving something that it kept you awake all night? You kept thinking about it every waking moment? Maybe it was your first trip to an exciting new destination. It could also be participating in an important tournament, meeting that special person or planning your 21st, 30th, 40th birthday celebration.
When we are passionate about achieving something vitally important to us, it gives us a level of energy and focus that cannot be matched. It is this level of passion and excitement that we must have for our goal(s), if we ever want to achieve it!
When people ask me, 'Where do you get the energy and discipline to keep writing books, developing seminars and starting new companies?', I reply by saying that I get so passionate and excited about my goals, to the extent that they charge me up continuously.
I sleep, breathe and dream my goals every single day until they are achieved! Then I set a new one, at a higher level!
When people seem to lack discipline or will power, it is not that they are lazy, it is simply because their goals are not exciting enough for them. They are not passionate about what they want to achieve!
Tiger Woods loves to play golf. Donald Trump loves the art of the deal, Steven Spielberg loves to make larger-than-life movies and Bill Gates loves technology and the idea of shaping the world. Even if they had all the money in the world (which they do), they would still be as obsessed with their goals.
So, you must set goals that you are passionate about. How? Simply ask yourself this question, 'Even if I had $10 billion, what would I still want to do and accomplish? What would I be willing to do for free if I had all the money in the world?'
Write down what you are truly passionate about and what comes from your heart rather than just from your mind.
3) Stretch Goals for Quantum Results
Most people I know tend to subscribe to setting for themselves merely incremental goals. Incremental goals are goals that are slightly higher than what you are currently achieving. For example, if you were making $2000 a month in income, an incremental goal would be $2500.
A stretch goal, on the other hand, is when you set for yourself an outcome that is way beyond your current level of ability and skill. If you were making $2000 a month, an example of a stretch goal would be one aiming for $10,000 a month.
I believe that the most powerful goals you can set are stretch goals. This was a key ingredient that allowed me to achieve so much within such a short period of time.
Use these 3 keys and your goals will propel you towards the success you deserve in life!
Want to learn how to set more goals for your life? Click here to check out more...
Sunday, July 8, 2007
34) How To Allocate Your Money for Maximum Returns & Minimum Risk?
by Adam Khoo
I am sure you have heard of the term 'don't put all your eggs in
one basket.' Even though you are going to learn how to achieve
minimum risk & maximum returns in each basket, it is still wise to
allocate your funds into different instruments with different
targeted holding periods. In times of emergency when you need the
cash, you can be sure that all your funds are not stuck in one place.
Now, here is an important disclaimer. In most financial textbooks,
they advise diversifying your funds into many different investment
vehicles like bonds, stocks, mutual funds, money markets
instruments as well as spreading your money across numerous
different sectors and different countries to diversify your risks.
To an average investor who has low financial competence and needs
the wide diversification to lower risk, this makes sense. However,
while this kind of broad diversification guarantees low risk, it
also guarantees low returns of 5%-8%.
I personally do not follow this strategy. Warren Buffett advises
that 'broad diversification is used by people to protect themselves
against their own ignorance.' If you know what you are doing (high
financial intelligence), you should concentrate your portfolio into
equities (stocks & mutual funds) as they achieve the highest
return.
And you can achieve low risk not by simply spreading your money
around, but by your competence of knowing which funds and stocks to
pick.
So, the strategy I am going to share with you would be deemed
highly risky by the general financial advisors and bankers. Again,
it's because most investors lack the competence to do otherwise.
However, with the strategies and knowledge you are gaining in this
book, you will prove to yourself that it is actually low risk, high
return strategy.
Knowing how to allocate the money you save is the single most
important decision that will lead to your financial goals. You
should take your monthly savings of 15-20% and allocate it to four
money baskets. These are the security basket, growth basket, high
growth basket and the luxury basket. Let me explain each of these.
1. Security Basket (Target Return of 1.5%-4.5%pa)
This first basket is as the name implies, for your security. The
funds in this basket grow just enough to keep pace with inflation.
However, they are there in case of emergencies. If you suddenly
lose your job, experience a salary cut or suffer a setback in your
business, you know that you will have access to these funds anytime
to see you through.
This basket should include cash, fixed deposits/certificates of
deposits, personal housing, insurance & capital guaranteed funds.
2. Growth Basket 1 (Target Return of 8.51%-20%pa)
This is the basket where you build your net worth & positive cash
flow assets that will lead you to financial fre-edom.
This basket is where you put your money into index funds, Exchange
Traded Funds (ETFs) and mutual funds.
You should also divide your funds between the US market and Asian
markets. Although mentioned earlier that Asian equities have
disadvantages, we cannot deny the huge growth opportunities that
Asia offers (especially India and China).
3. Growth Basket 2 (15%-25%)
This is the basket where you ACCELERATE the building of your net
worth & positive cash flow assets that will lead you to financial
fre-edom. Once again, you should not have to touch this money for
five to ten years to let the power of compounding work its magic.
This basket is where you put your money into a winning portfolio of
ten to twelve company stocks. And again, you should hold some Asian
stocks as well as US stocks.
4. Luxury Basket (0%)
Your luxury basket is where you save up to indulge in your dream
assets. This is money that you can afford to spend on things that
are fun like:
Upgrading to a dream house, luxury cars, jewelry, boats and other
luxuries. Again remember from the chapter on 'How the rich manage
their cash flow' that the money to be used for luxuries should not
come from your primary source of income, but from the passive
income generated from your positive cash flow assets.
>>> Learn more on how maximize your return here...
P.S. Don't know who is Adam Khoo? Wanted to know him more?
>>> Get a FREE exclusive interview on how Adam becomes a millionaire at young age...
I am sure you have heard of the term 'don't put all your eggs in
one basket.' Even though you are going to learn how to achieve
minimum risk & maximum returns in each basket, it is still wise to
allocate your funds into different instruments with different
targeted holding periods. In times of emergency when you need the
cash, you can be sure that all your funds are not stuck in one place.
Now, here is an important disclaimer. In most financial textbooks,
they advise diversifying your funds into many different investment
vehicles like bonds, stocks, mutual funds, money markets
instruments as well as spreading your money across numerous
different sectors and different countries to diversify your risks.
To an average investor who has low financial competence and needs
the wide diversification to lower risk, this makes sense. However,
while this kind of broad diversification guarantees low risk, it
also guarantees low returns of 5%-8%.
I personally do not follow this strategy. Warren Buffett advises
that 'broad diversification is used by people to protect themselves
against their own ignorance.' If you know what you are doing (high
financial intelligence), you should concentrate your portfolio into
equities (stocks & mutual funds) as they achieve the highest
return.
And you can achieve low risk not by simply spreading your money
around, but by your competence of knowing which funds and stocks to
pick.
So, the strategy I am going to share with you would be deemed
highly risky by the general financial advisors and bankers. Again,
it's because most investors lack the competence to do otherwise.
However, with the strategies and knowledge you are gaining in this
book, you will prove to yourself that it is actually low risk, high
return strategy.
Knowing how to allocate the money you save is the single most
important decision that will lead to your financial goals. You
should take your monthly savings of 15-20% and allocate it to four
money baskets. These are the security basket, growth basket, high
growth basket and the luxury basket. Let me explain each of these.
1. Security Basket (Target Return of 1.5%-4.5%pa)
This first basket is as the name implies, for your security. The
funds in this basket grow just enough to keep pace with inflation.
However, they are there in case of emergencies. If you suddenly
lose your job, experience a salary cut or suffer a setback in your
business, you know that you will have access to these funds anytime
to see you through.
This basket should include cash, fixed deposits/certificates of
deposits, personal housing, insurance & capital guaranteed funds.
2. Growth Basket 1 (Target Return of 8.51%-20%pa)
This is the basket where you build your net worth & positive cash
flow assets that will lead you to financial fre-edom.
This basket is where you put your money into index funds, Exchange
Traded Funds (ETFs) and mutual funds.
You should also divide your funds between the US market and Asian
markets. Although mentioned earlier that Asian equities have
disadvantages, we cannot deny the huge growth opportunities that
Asia offers (especially India and China).
3. Growth Basket 2 (15%-25%)
This is the basket where you ACCELERATE the building of your net
worth & positive cash flow assets that will lead you to financial
fre-edom. Once again, you should not have to touch this money for
five to ten years to let the power of compounding work its magic.
This basket is where you put your money into a winning portfolio of
ten to twelve company stocks. And again, you should hold some Asian
stocks as well as US stocks.
4. Luxury Basket (0%)
Your luxury basket is where you save up to indulge in your dream
assets. This is money that you can afford to spend on things that
are fun like:
Upgrading to a dream house, luxury cars, jewelry, boats and other
luxuries. Again remember from the chapter on 'How the rich manage
their cash flow' that the money to be used for luxuries should not
come from your primary source of income, but from the passive
income generated from your positive cash flow assets.
>>> Learn more on how maximize your return here...
P.S. Don't know who is Adam Khoo? Wanted to know him more?
>>> Get a FREE exclusive interview on how Adam becomes a millionaire at young age...
33) Want Exceptional Results?
by Adam Khoo
Time and time again, we hear people with good intentions tell us
that we should know our limits. We should not set goals that are
too high to avoid disappointment.
While it is certainly true that it is so much easier to succeed
with incremental goals, if you want to produce exceptional results
you have to use out-of-the-box strategies.
In fact, I believe that when people say something is impossible
it's only impossible because a strategy has not been found yet.
Many of the things around us that we take for granted were not too
long ago dismissed as 'unrealistic'.
Fifteen years ago, if you told someone that almost everybody today
will be walking around with a telephone the size of a credit card
which can play music, take pictures, send pictures and communicate
with computers, they would think you were crazy.
Why is it now a reality? All it took was for someone to think the
'impossible' and then make it real. Everything you see around you
first started as an idea in someone's head. Everything is created
twice, first in the mind, and then manifested in physical reality.
Were the Wright brothers being very realistic when they set out to
build a flying machine?
Not only were they not scientists or engineers, it was also
believed by the scientific community that it was physically
impossible for machines that are heavier than air to fly. Again, by
changing their strategy and doing whatever it takes, they finally
invented the first airplane.
Today, it is still a wonder that a five hundred ton jumbo jet
carrying over 300 people can lift off and fly 35,000 feet above sea
level. If the Wright brothers had been realistic, you and I would
still be taking the slow boat to China.
People that make history are those that set goals that everyone
else had thought was 'unrealistic' and even crazy. By using the
ultimate success formula and doing whatever it takes, they made the
impossible possible.
>>> Turn your impossible into possible results NOW!
P.S. Don't know who is Adam Khoo? Wanted to know him more?
>>> Get a FREE exclusive interview on how Adam becomes a millionaire at young age...
Time and time again, we hear people with good intentions tell us
that we should know our limits. We should not set goals that are
too high to avoid disappointment.
While it is certainly true that it is so much easier to succeed
with incremental goals, if you want to produce exceptional results
you have to use out-of-the-box strategies.
In fact, I believe that when people say something is impossible
it's only impossible because a strategy has not been found yet.
Many of the things around us that we take for granted were not too
long ago dismissed as 'unrealistic'.
Fifteen years ago, if you told someone that almost everybody today
will be walking around with a telephone the size of a credit card
which can play music, take pictures, send pictures and communicate
with computers, they would think you were crazy.
Why is it now a reality? All it took was for someone to think the
'impossible' and then make it real. Everything you see around you
first started as an idea in someone's head. Everything is created
twice, first in the mind, and then manifested in physical reality.
Were the Wright brothers being very realistic when they set out to
build a flying machine?
Not only were they not scientists or engineers, it was also
believed by the scientific community that it was physically
impossible for machines that are heavier than air to fly. Again, by
changing their strategy and doing whatever it takes, they finally
invented the first airplane.
Today, it is still a wonder that a five hundred ton jumbo jet
carrying over 300 people can lift off and fly 35,000 feet above sea
level. If the Wright brothers had been realistic, you and I would
still be taking the slow boat to China.
People that make history are those that set goals that everyone
else had thought was 'unrealistic' and even crazy. By using the
ultimate success formula and doing whatever it takes, they made the
impossible possible.
>>> Turn your impossible into possible results NOW!
P.S. Don't know who is Adam Khoo? Wanted to know him more?
>>> Get a FREE exclusive interview on how Adam becomes a millionaire at young age...
Thursday, July 5, 2007
32) Make Yourself a "Self-Made Millionaire"!
It's easier said than done...
Do you do know what what it takes to be a millionaire?
It's definitely hard to define in just a few words, especially when you are yet to be one.
But I do know of a shortcut that may helps you to have a millionaire mindset:
Ask a MILLIONAIRE!
Yup! It sounds easy though... But who do you personally know of are already a millionaire that allows you to ask him how to become one?
Not a single soul?
Well, I do know one who is a millionaire himself and he specialize in teaching people to become a "self-made millionaire".
His name is Adam Khoo.
Adam Khoo has been devoting his life to help people change their life for the better. He has declared himself to be a young millionaire at the age of 26. He's now considered one of the great motivation speaker and business coach in Asia.
He has create quite a few self-help products online that most people sought after. I can say his most successful coaching program in hand would be the "Secrets of Self-Made Millionaires".
The program consist of 12 hard-copy CDs that will be delivered to your doorsteps once ordered.
Here's what you'll received:
CD1 - Seven Steps To Financial Freedom
CD2 - Developing The Million Dollar Mindset
CD3 - How The Rich Manage Cash Flow
CD4 - Strategies To Massively Increase Your In-come
CD5 - Strategies To Massively Increase Your In-come II
CD6 - Creating Multiple Streams Of In-come Online
CD7 - Creating Multiple Streams Of In-come Online II
CD8 - Managing Money And Controlling Expenses
CD9 - Growing Your Money At Millionaire Returns
CD10 - Growing Your Money At Millionaire Returns II
CD11 - How To Invest Like Warren Buffett Part I & Part II
CD12 - Designing Your Millionaire Road Map
It's filled with almost 12 hour highly valuable information that will help you achieve your goal of financial freedom.
And each CD is designed to teach you the strategies, principles and habits all successful millionaires use themselves to become wealthy.
Is there anyone else on the net you can find to teach you all these, if not why not go and take a look at his main website:
>>> http://www.erictan.ws/recommends/secretsofselfmademillionaires/
Do you do know what what it takes to be a millionaire?
It's definitely hard to define in just a few words, especially when you are yet to be one.
But I do know of a shortcut that may helps you to have a millionaire mindset:
Ask a MILLIONAIRE!
Yup! It sounds easy though... But who do you personally know of are already a millionaire that allows you to ask him how to become one?
Not a single soul?
Well, I do know one who is a millionaire himself and he specialize in teaching people to become a "self-made millionaire".
His name is Adam Khoo.
Adam Khoo has been devoting his life to help people change their life for the better. He has declared himself to be a young millionaire at the age of 26. He's now considered one of the great motivation speaker and business coach in Asia.
He has create quite a few self-help products online that most people sought after. I can say his most successful coaching program in hand would be the "Secrets of Self-Made Millionaires".
The program consist of 12 hard-copy CDs that will be delivered to your doorsteps once ordered.
Here's what you'll received:
CD1 - Seven Steps To Financial Freedom
CD2 - Developing The Million Dollar Mindset
CD3 - How The Rich Manage Cash Flow
CD4 - Strategies To Massively Increase Your In-come
CD5 - Strategies To Massively Increase Your In-come II
CD6 - Creating Multiple Streams Of In-come Online
CD7 - Creating Multiple Streams Of In-come Online II
CD8 - Managing Money And Controlling Expenses
CD9 - Growing Your Money At Millionaire Returns
CD10 - Growing Your Money At Millionaire Returns II
CD11 - How To Invest Like Warren Buffett Part I & Part II
CD12 - Designing Your Millionaire Road Map
It's filled with almost 12 hour highly valuable information that will help you achieve your goal of financial freedom.
And each CD is designed to teach you the strategies, principles and habits all successful millionaires use themselves to become wealthy.
Is there anyone else on the net you can find to teach you all these, if not why not go and take a look at his main website:
>>> http://www.erictan.ws/recommends/secretsofselfmademillionaires/
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