After reading Adam Khoo’s “Million Dollar Interview“, I was really motivated to be the best that I can be. If you don’t know, Adam Khoo is the youngest millionaire in Singapore at the age of 26.
In this ebook, he told how he did to become the youngest millionaire in Singapore at the very young age of 26 and now a multi-millionaire owning 3 businesses that rakes in $20 Million in profits yearly.
Some of the outstanding views with regards to his principles are the following:
1. Learn the fundamentals. Most of all, you have to learn to sell. You’ve got to learn finance, you have to know how to read numbers, you’ve got to know how to manage cashflow. I firmly believe in what he said that you need to manage your own personal cashflow first before you can manage the cashflow of a business.
2. Find your passion. This is one of the most important factor. It would be better if you love what you’re doing. If you love what you’re doing, then you cannot really feel the stress of the “work” being done. And you will just see money flowing into you.
3. Learn to Save Money. High income does not necessarily mean being rich. No matter how high your income is, if you don’t know how to manage it, then it won’t last.
4. Set Goals. You must first start with a goal. You must need to have a target point. If you don’t know where will you go, then you will be lost. Not meeting your goals does not mean a failure. It’s just a way to know the right strategy. You wouldn’t know what works and what don’t if you didn’t fail.
5. Overcome Fears. Of course a lot of us have fears. We need to learn in order for us to overcome these fears. You are afraid of investing? Then learn how to invest. Learn about stock market, real estate, etc. Being competent reduces our fear.
6. Believe in yourself. You have to believe what you are doing because only then you can convince other people if you know and firmly believe in what you’re doing. Set as an example.
7. Millionaire Habits. He mentioned some millionaire habits: a.) Take responsibility. If you take responsibility, then you can then make changes. b.) Learn how to invest more than you spend. c.) Always strive for excellence. Give more than what is expected.
8. Mix with right people. Mingle with the right people. You must surround yourself with positive people, with mentors who can be there to help you become successful.
9. Create Value. Wealth is value. And creating wealth means creating value. Learn to create value to others by helping them reach their goals and helping them to solve their problems.
10. Act Now. Don’t just read and understand the teachings but act now!
With all these outstanding views and principles, I wouldn’t doubt that he really indeed became the youngest millionaire in Singapore. He serves as my example and inspiration to reach my own goals in the future.
Visit Adam Khoo’s Blog. I’m sure you will be surprised and be motivated just like what I experienced.