The key learning points:
CHAPTER 1
1) If you want something, don't just talk about it but TAKE ACTION
2) In materializing a wish, you need to persevere
3) Never give up no matter how difficult the circumstances
4) If you don't want to live in poverty, think of ways to escape from it. Start cultivating the habits of earning and saving
CHAPTER 2
1) If you start/run a business without the knowledge, you are bound to fail
2) If you want to be rich, the fastest way is to get correct knowledge from the right people and apply it
3) In insurance sales, you learn how to sell. However, knowing how to sell is not enough to build a business. You need to know how to manage your money, how to build a team, how to find the right business partner, how to market your products and services etc.
4) Wanting to look good/successful will cause you to buy many liabilities which is counterproductive to becoming rich (you should be buying assets instead)
CHAPTER 3
1) People go bankrupt because they take on too much bad debt (student loan, car loan, wedding expenses, housing loan, having children on borrowed money etc). You must learn to manage your money. Otherwise you might end up in a situation whereby you are not making enough money to pay the bills. You might be spending most of your paycheck on minimum payments required to service bank loans.
CHAPTER 4
1) Learn to let go of your ego so you can cope with setbacks e.g. bankruptcy
2) Get yourself educated from successful people who can teach you how to transform your life through personal development
3) Keep an open mind
4) Network marketing is a low cost way to start a business. Don't think of it as a "Pyramid Scheme" or a scam. Choose a network marketing company with a good track record, debt-free, with good products, consumable products, no front loading, strong and able to educate its distributors. Follow a good leader who is positive, charismatic and able to motivate downlines in achieving common goals. Always remind yourself never to fall into the get rich quick scheme.
5) Stay positive, feel grateful, learn to appreciate instead of keep complaining
6) When you are grateful about life, wonderful things will be coming your way as this is how to universe works
CHAPTER 5
1) By being creative, you can find many ways to make money with little capital. For e.g. you can help other people to sell their programs/products.
2) If your idea is good, you can always sell it to an investor for him to come up with the money
3) You can google a product or service and contact those websites that are at the bottom rank. They are obviously not doing well in marketing or sales. Contact them and tell them you'll help them to market their products and services.
4) All you need is a bit of creativity, the guts to ask, the courage to take risks and the effort of execution
5) Employees make powerless income, may be laid off anytime, find it hard to get rich
6) Employers or bosses decide their own schedule and have control of their time
7) The rich use money to buy time, the poor use their time to earn money
8) Manage your own money well. Own investments. Have savings.
9) Many people like to buy things they do not need with money they do not have to impress other people who do not even care!
10) Be willing to take risk to venture out and earn more. Take note not to fall prey to Get-Rich-Quick Schemes and end up losing everything due to ignorance.
CHAPTER 6
1) Be willing to change your mindset
2) Reinforce positive thinking. Make affirmations to yourself every day. "Money comes to me easily and effortlessly"
3) "I do not save money for rainy days, I save money for opportunities"
4) Be aware of the power of your subconscious mind.
5) Overcome your destructive ego. Don't think of stuff like "why am i not promoted?", "why am i not getting a pay rise?". Instead, ask, "what can i do to get promoted?", "what values can i add to myself to become a better person?"
6) Don't let your ego cause you to feel you're always right. If you feel that way, you will never change for the better
7) Start with small changes day by day
CHAPTER 7
1) The rich network, the poor just work
2) Attend transformational seminars
CHAPTER 8
1) Learn to make money in properties. Work with others. 1 person can pay the downpayment, the other can qualify for the loan.
2) Eliminate negative patterns.
3) Read up on personal development
4) Thoughts create the words you use, the words you use create your actions, your actions become your habits, your habits will then create your character and your character will determine your destiny
CHAPTER 9
1) Be who you are
2) When you do something, always think about the other party
CHAPTER 10
1) Financial Freedom Account (check previous blog post)
CHAPTER 11
1) You can learn how to manage a business. Learn to think out of the box, do sales and marketing, build a team, surround yourself with right people, understand strengths and weakness of staff, create a system etc
2) Greatest challenge is in changing your character and mindset
3) There is a learning curve. You will go through a rough time in the initial period but once you pass that difficult phase, you will never ever want to turn back
CHAPTER 12 - The Elements of Business
1) Sales and Marketing - gain experience by working in Profit Center instead of Cost Center if you are working for a company
2) Good Leadership Skills (Position Leadership vs Permission Leadership vs Production Leadership vs Personal Development Leadership vs Personhood Leadership) Position Leadership is bad, authoritative, people follow you because they have to. Permission leadership is not that good either, people follow you because you are nice and let them do what they want. Production leadership - people follow you because you can produce results. Personal development leadership - good and charismatic leaders who act as mentors to develop people to outgrow themselves. Personhood leadership - highest level of leadership where people follow you for who you are
3) Build a team. Find people who are self-motivated, committed to develop themselves and want to do more in life.
4) Set a system
5) Keep learning - the more you know, the more you know you don't know
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