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!

Millionaire Habit 4: Delayed Gratification

By Adam Khoo

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.

By spending on that new car, new widescreen television set or designer watch they get instant gratification.

When it comes to investing in books, seminars, stocks or insurance products, they will think twice as they have to wait for future benefits.

It is precisely for this reason that whatever money comes into their hands will soon be frittered away and not multiplied.

People who want instant gratification will always look for quick and easy ways of making money rather than building a sustainable business that adds value to (repeat) customers.

They tend to cut corners on quality and deliver shoddy products to save money and boost short term profits. As a result, their profits rarely last and they will soon go out of business.

At the same time, those who desire instant gratification lack the patience to allow their money to grow and compound through investing.

When they don't see huge sums of money in a few weeks, they abandon their investments and never get to reap the benefits. They have no patience to wait for the seeds they sow to grow into huge money trees that bear fruit.

On the other hand, all millionaires adopt the habit of 'delayed gratification.' They have the patience to wait for greater abundance in the future.

Whether in business or in investments, you must have delayed gratification in order to create massive wealth.

People with delayed gratification invest a lot more than they spend. Again, they know that by spending a dollar, they may feel good for an instant, but their future wealth will be destroyed.

When it comes to spending money, they are extremely frugal. However when it comes to investing, they do not think twice about writing a check for a few thousands dollars. They know that through patience, that money will multiply into a future fortune.

Millionaires never take shortcuts in business. They look at always giving the best value to their customers, even if it means earning less at present. They know that by building their reputation, it will lead to huge profit streams in the future.

So, develop the habit of delayed gratification - and spend wisely - and you will see your money multiply.

6 Ways to Massively Reduce Your Expenses & Increase Your Savings

By Adam Khoo

1) Study Your Monthly Expenses

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.

'Dispensable expenses' are stuff we buy on impulse to get a ten-minute gratification, and after that it would not make much difference to our lives.

Or in browsing through glossy flyers and advertisements, we get attracted to special offers on stuff we do not really need. But we buy simply because it seems like a good deal.

You must eliminate these expenses as, over the long term, it will cost you millions of future dollars.

You would be amazed at the impact that a few extra hundred dollars in monthly savings will have on your future wealth.

2) Pay Yourself First

Most people adopt the earn-spend-save habit. In other words, when they get their monthly income, they will spend on all their committed and impulse expenditures.

Whatever, they have left at the end of the month is what they save. Even if they set aside a budgeted expenditure, this strategy seldom works.

Why? Somehow, something unexpected might come up that causes people to spend whatever they have, leaving nothing to be saved.

Instead you must adopt the Pay Yourself First habit. Before you pay the grocer, the restaurant, the utility company, the TV repairman, you have to put aside a fix amount into your investment account. Then, spend whatever you have left.

In other words, you must earn-save-spend. The moment you earn your income, you must immediately put aside 10-20% into a separate investment account. Then live off the rest of the 80%!

The best way to do this is to make it automatic! Instruct your bank to automatically transfer 10-20% of your in-come into a separate investment account where the funds are not easily accessible.

This investment account should not have an ATM card where you can draw it out. You should only have a checkbook which you use to pay for investments.

Now, if you have got any form of consumer debt, you must modify this formula a bit. Deduct the first 10% and use it to pay off part of your principal loan. Then take the next 10% and put it into your investment account.

3) Stop Before You Buy & Procrastinate

Before you buy anything, always stop and ask yourself the following questions:

• Do I really need this?
• Will I regret buying this three days later?
• How many hours do I have to work to make back the money?
• How much will this cost me in future dollars?

Then, procrastinate in making a decision on whether to buy or not to buy.

Say to yourself, 'I'll think about it and come back tomorrow.' Eight out of ten times, you will not go back and spend that money as you will probably forget about it.

The best way to stop being a shopaholic is to get yourself so busy in purposeful and fulfilling work - especially meaningful volunteer work -so that you don't go shopping until you really need a particular item.

Many shopaholics admit their weakness is due to spending their free time wandering the shopping malls. So, find a meaningful way to occupy your free time and you will stop wasting your money.

4) Destroy All your Credit Cards but One

This next step will be painful but I guarantee it will shave off at least 15%-20% off your monthly expenses. Cut up all your credit cards but just leave one.

With lots of credit cards, you will have easy access to lots of tempting credit. Just use one card with limited credit for all your expenses...and again, pay the full balance.

5) Plan your Purchases... Only Buy at a Discount

You would easily save another 15-25% if were to plan your purchases, buying only when there is a special discount and buying in bulk.

Remember the example I gave you earlier about Ingvar Kamprad, the founder of IKEA? He would only buy vegetables and fruits in the afternoon, when the prices have dropped significantly.

As a kid, I observed my dad stocking up on toothpaste whenever the supermarket had a special promotion. He would stock enough toothpaste for six months until the next promotion.

I also have friends who buy all their clothes twice a year, during the citywide sale. So plan your purchases with a three to six month horizon in mind and buy in bulk whenever there is a very special promotion.

6) Treat it as a Business Expense

Even if you are a full time employee, you should register a business for income tax reduction purposes. You can use this business entity for internet business purposes or to market your intellectual property.

With a business, you can take certain expenses like transport, entertainment, office supplies etc. and charge them as business expenses. Whenever you do, you get an automatic tax deduction.

The higher your in-come tax bracket, the larger the savings. For example, if you pay 20% in personal in-come taxes, then every time you claim an expense as a business expense, you save 20%!

So there you have it, the six ways to reduce our expenses by 20-30% immediately. Remember it will only happen if you start taking action on it right away!

Only through the combined efforts of increasing your in-come and reducing your expenses can you save the cash necessary for you to invest and earn compound growth wealth that will lead you to financial freedom.

Modeling the World's Greatest Investor

By Adam Khoo

How do you achieve excellence in any area within a short period of time? The key is through modeling.

Modeling is the technique of finding role models who are the best in their field and then studying and distilling the mental models and strategies that make them the best in what they do.

By learning and applying their strategies, you will be able to produce the same phenomenal results they do, or maybe even better.

While the role model may have taken thirty years of trial and error to find the winning formula and perfect his strategy, you will be able to shorten your learning curve considerably by replicating his winning patterns.

In fact, if you study the most successful people in history, they all employed the power of modeling. They believed in standing upon the shoulders of giants rather than to re-invent the wheel.

The Wright Brothers and early flight pioneers got their ideas of aircraft design by modeling the body structure and flight movement of birds.

Ancient Chinese monks developed the art of Kung Fu by observing, modeling and imitating the fighting techniques of animals (tiger, monkey, snake and bear) and insects (praying mantis).

The government of Singapore managed to turn a 'dot' on the world map, basically a trading port, into a first world economy with a GDP (Gross Domestic Product) per capita ranked 18th in the World (World Development Report, 1993) in just 28 years!

This was achieved by modeling the best practices of countries like Switzerland (governance and banking), Israel (warfare), the United States (Commerce) and the United Kingdom (law and education).

As you can see, modeling is not just about copying someone else. It is about distilling the best practices of a whole range of excellent role models, taking the best from each of them and developing an even more powerful strategy.

So if you want to be an excellent investor, who better to model than Warren Buffett, the world's greatest investor?

Warren Buffett is currently the second richest man in the world with a personal fortune of $42 billion (second only to Bill Gates $46 billion).

The amazing thing about Buffett is that he made all his money without making or selling any kind of product or service. He made it entirely by investing in the stock market.

Over the last 49 years, he managed to achieve a 24.7% annual compounding rate of return, which means he made his money double every 2.9 years!

How does he achieve this remarkable feat when 97% of professional fund managers cannot even beat the S&P 500 consistently every year?

That's exactly what got me so excited to study and model this genius a few years ago.

By reading every single book written about Buffett as well as his own personal writings, I found that the beliefs he has about the stock market and the strategies he uses go completely against what mainstream finance teaches and what professional fund managers do.

If you learn and use the same recipe, you are going to produce the same cake.

So, let's get started! Before modeling someone's strategies and techniques, it is first important to understand and model the person's beliefs.

A person's beliefs is what drives their decision-making patterns and the actions they take.

The reason why Buffett is able to make more money than any other investor in the worlds is because he has very different beliefs about how the stock markets acts and how to buy stocks.

If you want to model his success, an important step would be to adopt his beliefs and strategies.

Do As Expected and You Will Soon Be Out of Business

By Adam Khoo

As an entrepreneur today, you must do a lot more than expected in order to run a successful business and create wealth! In the past, economies were a lot less competitive.

In the past, when a business performed below customer's expectations, they would be struggling to break even.

If a business met their customer's expectations, they would make good profits. If a business exceeded their customer's expectations, they would become a market leader and would earn huge profits!

Why do over 90% of businesses fail today? It's because markets have become so much more competitive. If you start a retail store, you are competing with hundreds of others, both locally and internationally!

Today, if you perform below customer's expectations, customers will never come back and you will go bust! Today, if you meet customer expectations, you will still be struggling to survive! Why?

This is because hundreds of other businesses can also meet your client's expectations, and some of them do so at half your cost.

You will find that you will be competing on price most of the time and will earn so little that it is hardly worth your while.

I have seen so many business owners struggling to break even simply because what they offer is the same as every other business in their industry.

In today's marketplace, if you exceed your client's expectations, you will only earn nominal profits because many businesses already do their best to add more value to their clients.

So how do you make huge profits and become a millionaire in business today?

The answer is that you have to go way beyond your client's expectations. You have to give them an unbelievable experience where they will keep coming back to your business and tell all their friends about you.

You must set your standards so high that they will never go to anyone else for that particular product or service.

When you highly exceed your client's expectations, you can charge a premium and make huge profits. This has been my secret of success for all my businesses and I want you to learn this same secret right now!

How to Double Your Company's Profits in Less than Six Months

By Adam Khoo

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.

In any kind of business, profits are only determined by five variables: Leads generated, conversion rate, average dollar purchase, average repeat business and net profit margins.

Leads represent the number of potential customers or prospects that the company generates through walk-ins, inquiries, cold calls & recommendations.

Let's say that out of every ten prospects, two eventually end up buying, this means that the company's average conversion rate is 20%.

So, if you multiply the number of leads generated a year (also known as prospects) by the average conversion rate, it will determine the number of customers. This is illustrated below.

Leads X Conversion Rate = Number of Customers

Now, some customers may spend more money and others may spend less, but there is always an average dollar purchase per customer.

At the same time, some customers may only buy once while others may return to buy several times a year. This is known as the average repeat business per customer.

If you multiply the number of customers by the average dollar purchase and by the number of repeat business, you will get the annual sales revenue of the company.

Leads X Conversion Rate
= Number of Customers X Average Dollar Purchase X No. of Repeat Business
= Sales Revenue

Now, assume that your company's sales revenue is $100,000 a year and the total cost of production & overheads are $80,000 a year.

This means that the company's Net Profit Margins are 20%. If you multiply the Sales Revenue by the Net Profit Margins, you will get the company's net profits for the year.

Leads X Conversion Rate
= Number of Customers X Average Dollar Purchase X No. of Repeat Business
= Sales Revenue X Net Profit Margins
= Net Profits

In order to create value to your company and increase its profits, you must either increase leads, conversion rate, average dollar purchase, number of repeat businesses and/or net profit margins.

Now, the number of variables you can influence will depend very much on the role you have in the company.

If you are the owner or are a department manager, chances are you can take action to increase all five variables and massively create value. If you are a salesperson, then you can influence leads, conversion rate, repeat business and dollar purchase.

If you are in operations, you can directly influence conversion rate, number of repeat businesses and net profit margins.

If you do your job really well and exceed client's expectations, they will keep coming back and spending more.

If you can work more efficiently and come up with strategies to improve the operational efficiency, margins will increase!

To what extent can you increase your department's/company's profits? Let's take a look.

Do you think it is possible to increase each variable by 10%? Of course! It is only a question of testing out different strategies and taking action!

Do you know that just by increasing each variable by 10%, profits jump 61%! This is the power of compounding. Small consistent increases in each variable create huge effects to the bottom line!

But this is not challenging enough. Now, think what can happen if, through innovation and hard work, you can help increase each of your company's variables by 20%.

When you increase each variable by 20%, profits more than double (149% increase)! Excited yet? You should be.

A small increase in each variable will more than double your profits. If you're serious about doing that, take action and apply this right now!

Millionaire Habit 3: Take 100% Responsibility

By Adam Khoo

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.

Remember when you give excuses to yourself (i.e. no time, no luck,no capital, no experience etc...) or blame others for your lack of wealth, then you are putting others and external events in control of your life!

When you are not in control, you do not have the power to change your circumstances.

Instead, millionaires take 100% responsibility for their wealth. They believe that they alone create their wealth through their strategies and actions.

As a result, they know that they have the power to change their wealth by changing their strategies and actions.

It is only when you live by this habit will you have the power to exponentially multiply your in-come and wealth.

Eliminate Consumer Debt if You Want to Be Rich

By Adam Khoo

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.

While taking on a reasonable amount of consumer debt is necessary for you to afford a car and a house, you must avoid taking on too much for too long a period.

Why? Because a 5%-6% interest rate may seem small but over an extended period of time, it compounds to a huge amount of money.

You will find yourself paying tens of thousands of dollars in installment payments every month just to see that the principal sum you owe go down by a couple of hundred dollars.

For example, let's say you bought a $250,000 apartment and took a $200,000 mortgage at 6% stretched over 30 years. If you just paid the minimum installment payments every month, how much would you have paid in total interest?

The answer: Using a financial calculator, you can see that you will pay $1,173 in monthly installments for 30 years. That's a total of $422,280 in installment payments! You would have paid a total of $222,280 in interest to the bank. That's like buying two apartments and giving the bank one!

If you took a $200,000 loan over 30 years at 6% interest, you would pay a total of $222,280 in interest... Even more than the loan amount itself!

So besides paying the minimum required monthly installments (like your bank wants you to), you must constantly PAY MORE to further reduce and eventually eliminate your principal sum... or you will wind up donating hundreds of thousands of dollars to your bank over the long term!

When our spending is uncontrolled, our expenses always tend to rise up to match our level of income. No matter how much we earn. If we earn $2,000, we will find a way to spend over $2,000 and end up broke.

When we start earning $10,000 a month, we believe that we deserve a grander lifestyle, a flashier car, dine in exclusive up-market restaurants. Very often, the $10,000 we earn a month will be spent and we will end up having to start from scratch over again.

This pattern has been repeated by many intelligent people I know, some of them being my close friends. When unmanaged, whatever additional in-come we earn seems to disappear without a trace... doesn't it?

It is not how much you earn that will determine your wealth. More importantly, it is how much you are able to save and invest!

Millionaire Habit 2: Be Proactive

By Adam Khoo

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.

From this simple activity, I can tell immediately if they exhibit this very important wealth habit.

I notice that there will always be some people who will go around introducing themselves first and getting to know as many people as they can.

These people exhibit the pattern of being proactive. People who are proactive are people who take the initiative to make things happen.

When there are no opportunities, proactive people are those that go out and find opportunities. If they cannot find any, they will create their own opportunities. When problems get in their way, proactive people will take action to solve their own problems!

On the other hand, there would always be an even larger number of people who will just stand around and wait for others to come and shake their hand.

These people exhibit the reactive mindset. People with the reactive mindset have the habit of waiting for things to happen to them. They tend to act only in reaction to others' actions.

As a result, they have a lot less control and choices over results that affect them. When no opportunities present themselves, reactive people just sit and wait for the opportunities to come to them.

They are characteristic of people who complain about everything that is happening around them and hope that something will change. When reactive people face problems, they will just wait for others to come and solve their problem.

When the Asian currency crisis hit Singapore in 1997, many companies saw their sales and profits plummet. Many business owners were reactive and just sat tight and prayed for the bad times to pass.

Instead, Ron Sim, CEO of Osim International (a company that develops luxury massage chairs) took the proactive action of entering new markets like Hong Kong and Taiwan.

As a result, his company profits were not only unaffected by the crisis but they continued to increase.

When the Asian economies recovered, over 60% of Osim's business came from outside their home country of Singapore, leading to even higher earnings growth of over 30%!

By having the proactive mindset, you put yourself in the position of power and choice. You are in command and will take action that leads to wealth and success.

However, when you act in a reactive pattern, you will find that your finances will never be within your control.

Millionaire Habit 1: Always Exceed Expectations

By Adam Khoo

Those people who always exceed expectations are known as Value creators and they end up as the rich and wealthy of our society. If they are paid $3,000, they will work as if they are being paid $20,000.

If they are expected to generate $10,000 worth of profits, they will create $30,000 worth of value! They are called value creators because they create value for companies.

It is through their efforts, that the company makes more and more profits every year. As a result, their income is not considered an expense to the company, but a great investment.

Even in periods of downturns, when everyone else is getting retrenched and pay cuts, they get pay increases, bonuses and stock options.

The company knows that for every dollar they invest in them, they will return triple the value. These people are the high flyers who get promoted super fast and get their incomes doubling and tripling in a few years.

In the past, income was based mainly on seniority and loyalty. The longer you stayed, the more you were valued. In today's world, income is based entirely on the amount of value you can create.

It is not uncommon to see people who are much younger, with a lot less experience directing businesses and earning lots more than senior workers who have been with the company a lot longer.

Value creators are indispensable assets to their company! They are very hard to replace. And that is why companies will pay them more and more and offer them partnerships to retain them.

Value creators are never out of a good job. They are usually head hunted by other companies all the time, the head hunters offering to double their income if they join them.

This habit does not just apply to employees, it applies to anyone from sports stars to business owners.

When Michael Jordan was interviewed and asked how he became the world's greatest basketball player, he replied, "I expect more from myself than anyone would ever expect from me!"

When my coach expects me to train three times a week, I would train five times. When my coach expects me to score 15 points for each game, I would score 36 points! That is why I am the best in the world".

Do more than anyone expects of you and you will find the river of success flow like an never-rending stream into your life. Cultivate this habit now and you will start to see results immediately.

Debunking the Myths of Money

By Adam Khoo

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.

In order to truly align your mind to wealth creation, you must debunk these negative myths and really look at the facts.

Myth: Having a lot of money will change you (into a bad person).

Fact: Money is a personality magnifier. It brings out the true person within you. If you are a selfish and nasty person by nature, having money will make you even more nasty and selfish. However, if you are a kind, generous and loving person deep down inside, money will magnify your goodness.

Myth: Money isn't everything.

Fact: This is the top excuse given by poor people who are in denial. The truth is that everything is money. Without money, you cannot maximize other important values such as family, career, health, spirituality and relationships.

Myth: Money will make you less spiritual.

Fact: If you are by nature a spiritual person, having money will allow you to touch more lives and help you do more of god's work. In fact, the wealthiest people in the world are extremely spiritual. Not having to worry about money anymore allows many of the rich to focus on the more important things in life. Many truly wealthy people believe they don't own their money. They are just custodians of God's wealth.

Myth: Rich people are materialistic. They worship money.

Fact: It is the people who lack money who worship it. Who works all day, year after year in a job which they hate, just for the money? Who are those who constantly sacrifice their health and family to make more money? In fact, the rich rarely work because of money. They work because of passion and a sense of personal mission. Bill Gates, Warren Buffett, George Lucas, Michael Jordan & Steve Jobs certainly don't work for money... they don't need to.

Myth: To have more money, I will be depriving others of it.

Fact: When you become rich, you actually create more wealth for other people. Wealth multiplies into more wealth. Bill Gates is the richest man in the world because he has created the most value in people's lives through the creation of Microsoft and Windows. Because of his invention, so many more millionaires have been created as a result. Think about it, if Microsoft Windows, Word and Excel did not exist, would you have been able to create as much wealth as you have today?

Myth: Money is the 'root of all evil'.

Fact: The lack of money is the root of all evil. The number one cause of murder, cheating, stealing, lying is poverty (the lack of money).

Get your beliefs and attitudes right and you will start to attract more of it into your life!

The Power of a Wealth Builder Group

By Adam Khoo

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.

Yes. It has been proven time and again that behind every successful individual is a successful team. They are either made up of a team of friends, colleagues or business partners.

Why must you always have a strong support group in order to reach your financial goals?

This is because it takes a great deal of knowledge, talent, resources, contacts and ideas to make a million dollars, and it is difficult for a single individual acting alone to do it all within a short period of time.

Having a Wealth builder Group allows you to leverage on the collective experience of others...and leverage is the key to wealth.

Remember... People are your greatest resource to wealth!

a. Exponential Creative Power Unleashed

When you generate wealth creation ideas alone, there is a limited amount of knowledge, experience and inspiration you can tap on. When a team of people generates ideas, the creative & knowledge power increases exponentially.

This is known as the power of synergy. Five people working together will create the creative power of fifty minds! All the best ideas in the world were the result of combining great ideas from more than one person.

For example, let's say you are a great cook and would like to start a food business that could give you massive cash flow.

You may be a specialist at cooking, but may lack the knowledge and resources in locating a retail space, knowing how to find the right suppliers, getting financing, hiring and training staff, marketing and the creation of a business process.

With the right group, your friends could provide you with the knowledge about areas in which you have little experience in, and valuable contacts that would accelerate your business.

You will get ideas, solutions and contacts that you would never have if you were to do it alone.

b. The Power of Contacts

Have you heard of the saying, 'It is not just WHAT you know but WHO you know?' How true this is. Having a powerful network of contacts will get you the best employees, business partners, suppliers and most important of all... customers!

Alone, you probably only know about 300 people or less who you can give a call to. In a group of eight individuals, your contact base becomes 2400 immediately!

I can tell you personally that it is because of the right contacts, that I have had so many doors open to me every single time.

c. Fellowship & Support

Let's face it, walking the path of a millionaire can be a narrow and lonely one. Most old friends and family members will think you're crazy, let alone understand and provide you the fellowship & support that we need.

With the right support group, you will have a strong group of friends who have the same mindset, goals and values as you do, providing you the continued encouragement and fellowship you will need to reach your goals.

Yes. It has been proven time and again that behind every successful individual is a successful team. They are either made up of a team of friends, colleagues or business partners.

Why must you always have a strong support group in order to reach your financial goals?

This is because it takes a great deal of knowledge, talent, resources, contacts and ideas to make a million dollars, and it is difficult for a single individual acting alone to do it all within a short period of time.

Having a Wealth builder Group allows you to leverage on the collective experience of others... and leverage is the key to wealth. Remember... People are your greatest resource to wealth!