Wealth Building Articles

Finance » Wealth Building | By Terence Young @ Monday, 28th August 2006 @ 6:05 AM

Rich people sometimes come by it naturally. Some of them are born into it and learn the ways of the wealthy from their parents. Others are born with a natural bent toward saving money instead of spending it and other helpful habits. If you don't fit into either of these categories, you can still learn things that the rich know. One thing rich people know is that you shouldn't waste your money. Some of the wealthiest people ever were little children who saved pennies. Learn to r... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 28th August 2006 @ 1:31 AM

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. I teach people not to leave their life to chance but to have a plan for their future. I teach people to make full use of their potential and live life to the fullest. I always say that if yo... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 28th August 2006 @ 1:31 AM

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?' He then went on to complain that he was not as lucky as other people around him. 'Ada... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 28th August 2006 @ 1:30 AM

I travel around the region pretty frequently, having to visit and conduct seminars at my offices in Malaysia, Indonesia, Thailand and Su Zhou (China). I am in the airport almost every other week so I get to bump into many people who have attended my seminars or have read my books. 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.�... more...

Finance » Wealth Building | By Adam Khoo @ Thursday, 24th August 2006 @ 10:48 AM

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. I had to write proposals to clients, make cold calls, do sales presentations, conduct the training itself, prepare logistics, prepare training materials, do administration and finally, manage the financial acco... more...

Finance » Wealth Building | By Adam Khoo @ Friday, 11th August 2006 @ 5:40 AM

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? There are basically four major strategies you can employ to add the scalability factor to your value: 1) Earn royalties and fees from licensing or selling your intellectual property 2) Magnify your value by reaching more people at one time 3) Earn recurring commissions from sales and refer... more...

Finance » Wealth Building | By Adam Khoo @ Friday, 11th August 2006 @ 4:14 AM

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 busines... more...

Finance » Wealth Building | By Adam Khoo @ Friday, 11th August 2006 @ 3:19 AM

There is available a veritable treasure chest of strategies to massively increase your income and get you on your way to financial abundance. When I talk about increasing income, most people think of only two options. Either they work much harder in their job and hope their boss notices their efforts and gives them a raise of 5-10% or they quit their job and find another company that will pay them 10-20% more. The trouble is that if you are at a mid to senior salary scale, the ch... more...

Finance » Wealth Building | By Adam Khoo @ Friday, 11th August 2006 @ 1:54 AM

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.' When I talk about increasing the time you spend creating value, I do not necessarily mean that you must work longer hours. Rather, you must spend more of your ... more...

Finance » Wealth Building | By Adam Khoo @ Thursday, 10th August 2006 @ 2:16 PM

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. Do not expect to get a promotion or a raise automatically. If bosses can help it, they would rather pay you much less than what you are worth. Most of the time, you must be proactive and ask for a raise. However, before you ask for double your pay, ensure that you... more...

Finance » Wealth Building | By Adam Khoo @ Thursday, 10th August 2006 @ 2:15 AM

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? Every time I ask this question to people, I get standard answers like, 'age, qualifications, experience, luck, title, special skills, specialized knowledge, intelligence and so on'. Well, none of this is really accurate. There are so many examples of people ... more...

Finance » Wealth Building | By Adam Khoo @ Wednesday, 9th August 2006 @ 11:45 AM

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!' Yes, if you are currently employed in a job, you must still do everything yourself initially. However, start focusing on doing all the high value activities first. Spend at least 70% of your total workday on these activities. ... more...

Finance » Wealth Building | By Adam Khoo @ Tuesday, 8th August 2006 @ 12:02 AM

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!... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 7th August 2006 @ 2:03 PM

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. Let me start off by asking you to do a simple exercise. I would like you to close your eyes and picture a millionaire in your mind. Picture the ... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 7th August 2006 @ 10:02 AM

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. A person's wealth is actually defined by how long a period of time he/she can sustain their lifestyle if they stop working. The longer you can go on living your life without working another day, the richer... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 7th August 2006 @ 10:01 AM

There are basically four levels of wealth you must aim to attain. Level 1: Financial Stability The first level of wealth is known as financial stability. This is the most basic level of wealth that you must first attain. You have achieved Financial Stability when: 1. You have accumulated enough liquid assets to cover your current expenses for a minimum of six months. 2. In addition, you have life and hospitalization insurance to protect you and/or your family&... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 7th August 2006 @ 9:59 AM

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. The rich manage their money very differently from the average Joe. They have a very different set of habits in the areas of saving, investing and cash spending. To become a millionaire, you must learn and adopt the cash flow management habits of the rich. You have to first understand t... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 7th August 2006 @ 9:00 AM

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. For example, even if you are a top lawyer who earns $300 per hour and you can only work a maximum of 180 hours a month, your maximum earnings would amount to only $54,000 a month or $648,00... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 7th August 2006 @ 4:39 AM

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, t... more...

Finance » Wealth Building | By Adam Khoo @ Monday, 7th August 2006 @ 3:33 AM

Besides taking steps to 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! Now you may be saying to me, 'I am already working 18 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... more...