Tuesday, December 4, 2007

Millionaire Habit 7: Be 100% Committed

By Adam Khoo

There is a very big difference between wanting to become a millionaire and being 100% committed to becoming a millionaire.

When you merely want, wish or hope to achieve a goal, it will rarely ever happen. Think about it. Everybody wants to be financially free, but very few ever make it happen.

Studies after studies have shown that people who achieve phenomenal success and wealth did not just want it, they were 100% committed to achieving it. When you are 100% committed to a goal, it is no longer a wish, a hope or a want...it becomes an absolute MUST.

You see, when something becomes an absolute MUST to you, it gets you to operate from a totally different frame of mind. When something is a MUST, it will become your number one priority and nothing will ever come in its way until that goal is accomplished.

When something is a MUST, you will do whatever it takes to get it (within limits of integrity of course)! Even if it means stretching way beyond your comfort zone and investing time, energy or money, you will do whatever it takes.

I believe that when you are willing to do whatever it takes to get something, you will ALWAYS find a way. And if you cannot find a way, you will make a way.

For example, when George Lucas (millionaire at 28 and creator of Star Wars) wanted to revolutionize film making by creating the special effects required for the space battle scenes for Star Wars, the technology did not exist.

Everybody told him that what he wanted to do couldn't be done. Instead of accepting the comfort of reality, his total commitment to making his dream come true was to set up his own company, Industrial Light and Magic (ILM) to create the special effects required for his own movie.

You see, when something is a 'must', anything can be achieved. At the same time, when you make financial fre-edom and security a must for you and not just a wish, you will achieve it. When something is a must, our brain gets us to tap our fullest potential to make it happen.

The trouble is that becoming financially abundant is rarely a must for most people. It is merely a wish. However, it is always a must to survive...and that it why most people merely survive.

So once again, to achieve all your financial goals, you have to make it a must for yourself. How do you make something a 'must'?

The answer is by putting yourself on the line. When you put yourself in situation where you give yourself no choice BUT to succeed, you very often will.

If you study the life stories of millionaire history makers, many of them came to a point in their lives where they put themselves on the line and staked everything they had. And because they had NO CHOICE but to succeed, they often did it against insurmountable odds.

So do whatever it takes, make success and achieving your goals a MUST and I will guarantee that your wealth will multiply many-fold.

Millionaire Habit 6: Acting With Integrity

By Adam Khoo

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?

Think about Enron, China Aviation Oil, WorldCom, ACCS, REFCO and the list goes on.

Certainly there are unethical & unscrupulous rich people around (incidentally, their wealth & businesses rarely last), but the truth is that most self-made millionaires share a common habit of personal integrity.

Interestingly, in the best-selling book 'The Millionaire Mind', author Thomas Stanley interviewed 733 multi-millionaires and asked them what were the key factors that contributed to their wealth.

Ranked number one was 'being honest with people'. Surprised? This factor was ranked way ahead of factors like 'making wise investments', 'working hard' and 'having a competitive spirit'.

What is integrity and why is it so important to long term wealth?

Integrity is about being honest with others and adhering to high moral standards.

It is also about doing what you say you will do. When you act with integrity, your customers, colleagues and staff will place their trust in you.

They know that you mean what you say and that you will not let them down. They know that you will give them the best quality for their money and they know that you will not cheat them.

In a world where so many people are unethical and dishonest, build your reputation on integrity and you will have an endless supply of customers, suppliers, investors and business partners.

Over the years, I have had many people who have approached me to do business with them and I have turned most of them down, no matter how great the opportunities to make money seemed to be.

As a result, many people have asked me what I look for in a business partner.

My answer is that 'integrity' is above everything else. So, always act with integrity and you will possess one of the greatest strengths of all.

Millionaire Habit 5: Love What You Do

By Adam Khoo

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? Healthcare? Options trading? Property? What's the best industry to be in right now?

Well, you will find that in ANY industry, there will be a minority who will be making plenty of money, while the majority will be struggling to survive.

So my answer to that question is that you can become a millionaire in ANY INDUSTRY, only if you are one of the best! If you are not one of the best, you will never become rich in ANY industry.

You CAN become a millionaire in insurance, property, options trading, children's education, pest-control, retail, food or Internet marketing ONLY when you are one of the best.

So, how do you become the best in the market? The answer is by being totally, absolutely one hundred percent committed towards your particular career or business.

All successful individuals have one thing in common. They love what they do. And because they have such an intense passion for their particular career or business, they do not distinguish work from play.

Their work is their play and vice versa. As a result, they spend every single day and every waking hour working (to them it's not work), and that is why they become so good at it that they become market leaders and experts.

Have you ever wondered why Bill Gates, the richest man in the world who is worth US$46 billion still works 18-hour days, every single day?

Why doesn't he just sit back and relax on the beach? The reason is because like all millionaires, what drives him is never really the money per se; it is the love of being at the forefront of technology.

It was his obsession of 'putting a computer in every home running Microsoft software' that made him the best in the field.

Many people have the belief that millionaires are people who are just naturally more motivated, disciplined and focused. The truth is that when anyone does something he or she loves, the motivation, focus and discipline always comes naturally.

If you find that you lack the motivation and discipline to become successful in what you do, the reason is very obvious. It is not your passion!

Think about it. Do you have a natural passion for something? Do you have a hobby? Like playing golf? Looking at beautiful women or men? Computer games? Football? Playing with children? Haven't you noticed that whenever you are doing what you love, the energy never stops?

It's like no matter how tired you are, you will always find the energy to do what you love. Well, this is the secret that will lead to your success and wealth!

You have to find something you are extremely passionate about and build your career or business around it!

When you do, you will find that you will be naturally focused, committed and energized to work at it. When you give your best to whatever you are crazy about, you will become the best!

So start asking yourself...

'What do I love to do'? ' What would I do even if I didn't get paid?'

'If I had all the money in the world, how would I spend my time?'

'Who are people who have made their fortunes around this passion I have?'

I guarantee you that when you start looking for them, you will find no lack of role models you can learn from. Remember, do what you love and you will never work another day in your life!