It’s been a great 3 days back at the Wealth Academy (WA) being a coach. This is my third time back at WA since I graduated in April this year. It’s one hell of a seminar! It’s a seminar that shows you the way to becoming a millionaire.
I always managed to learn something new every time I’m back. As you know, you’d probably forget 80 per cent of whatever you’ve just learnt. So I’m glad WA offers their graduates unlimited re-attendance either as a participant or a coach.
I chose to go back as a coach because I always believe that one of the best ways to learn is to share and teach what you know. And being a coach allows me to do just that. Besides, it’s more fun being a coach! 
Wealth Academy was developed by Adam Khoo, the founder, Executive Chairman and Chief Master Trainer of Adam Khoo Learning Technologies Group (AKLTG).
Adam is a self-made millionaire by the age of 26. Currently, at the age of 34, he’s one of the top 25 richest people in Singapore under the age of 40.
You’d never have imagined a hugely successful man like Adam was once a complete loser and an all-out underachiever when he was younger.
He was a total misfit who did poorly in school and had to be expelled for misbehaviour. He was a problem student that no school wanted him.
He began to believe that he was born lazy, slow, unmotivated and maybe even stupid. He was the only problem kid among his cousins. Even his parents didn’t know what to do with him.
But everything changed when his parents, out of sheer desperation, decided to send him to a motivational camp for teens.
After the camp, Adam graduated as one of the top students in school and subsequently being ranked among the top 1 per cent of achievers at the National University of Singapore.
Not only did he do well academically, he went on to start his own businesses and became an extremely successful entrepreneur running 3 businesses with total annual revenue of $30 million.
I’ve been immensely inspired by Adam. I consider myself fortunate to have found out about Wealth Academy because this is one of the best seminars I’ve attended so far.
It really opens up my mind to see why the rich are rich and the strategies they follow to become rich. These are exactly what Adam, the master himself, has been following to become a multi-millionaire at such a young age.
This is the reason why I volunteer to go back as a coach to re-attend the lessons and help the new participants at the same time.
The reason I’m coming up with this Millionaire Secrets Series is because I’d like to share with you some of the most powerful lessons I’ve learnt at WA and sharing allows me to re-learn the lessons too!
This series is so titled because this programme teaches you the Secrets of Self-Made Millionaires and the Secrets of Millionaire Investors.
I’ve broken down the lessons into five main parts, namely:
• Developing a Millionaire Mindset
• Managing Your Money The Rich Way
• Increasing Your Income and Creating Passive Income
• Growing Your Money
• Designing Your Million Dollar Roadmap.
Are you ready? Ok, let’s go!
Lesson 1: Developing a Millionaire Mindset
I’ve always been a big believer in “You Are The Foundation of Your Own Success”. If you’re not going to lay a strong foundation for your success, you’re not going anywhere.
And since you’re the foundation, that means you have to first build yourself. And that means building your mindset. This is also exactly what Adam Khoo advocates too.
Our mind is the greatest asset we can invest in. No other forms of assets even come close. The potential return we can yield from investing in our mind is virtually unlimited.
Stocks and real estate may give you a return of 100%, 200%, or maybe even 500%. But your mind can potentially give you infinite return, if developed correctly.
Millionaires are rich not because they’re more hardworking, smarter or luckier. They’re rich because they know how to play the game of money and they invest intensively and extensively in their mind, knowledge and skills, especially financial knowledge and skills.
Take Donald Trump for example. During the 90s, he went from being a billionaire to being on the brink of bankruptcy, with a personal debt of more than US$900 million! But he made a remarkable come back. And now, he’s become a billionaire once again.
In fact, Trump came close to bankruptcy on more than one occasion. But each time, he managed to pull it off and made his way back to the top.
The reason why he managed to emerge a winner again and again is because he has a millionaire mindset. Well… in his case, a billionaire mindset.
Millionaires think and act very differently from the man in the street. The reason why you are not rich today is because you have a different set of habits, beliefs, values and attitude from the millionaires.
If you want to even have the slightest chance of becoming a millionaire, there are a few things you need to do.
• Create Value
“The value of a man should be seen in what he gives and not in what he is able to receive. Try not to become a man of success, but rather try to become a man of value.” – Albert Einstein
Indeed, the first unbreakable habit of success is to become a man of value. If you can provide enough value to your company or customers, they will reciprocate in ways that will help you create wealth and achieve success.
To be a Value Creator, you need to do a lot more than expected. You have to take the initiative to raise the bar on what has already been set for you.
To any company, value creators are considered high return investments and indispensable assets because if they are paid $3,000, they will generate $10,000 worth of value for their company!
Not only will these people be promoted to the top level, they will get pay increases, bonuses and stock options even during downturns because their company knows that they will triple the value for every dollar the company invests in them.
In today’s society, income is based on the value you can create. Value creators are usually people who end up as the rich and wealthy of our society. If you aspire to become a millionaire, DO MORE THAN WHAT YOU ARE EXPECTED today!
• Take full responsibility for all your decisions and actions.
Most people have the victim’s mindset, which prevents them from achieving success. These people tend to blame everything and everyone else except themselves. They will say something like ‘The stock market is going against me’, ‘My boss sucks’, or ‘My spouse is unsupportive’.
On the contrary, winners take 100% responsibility for the results in their life. They take ownership over their wealth.
When winners fail to meet sales target, they don’t blame the economy or the competitors because they know very well that doing so is not going to turn things around.
Instead, they take full responsibility by making more cold calls, by meeting more people or by changing their sales strategies.
The moment you take control of your situation instead of complaining and whining, you have given yourself the power to achieve whatever you want.
• Follow your passion.
The number one reason why millionaires are able to excel in whatever they do is because they love what they do!
I have talked about “Do what you love doing” in two of my previous posts, Success = Being Happy and The Difference Between a Dream and a Fantasy.
Adam Khoo also mentioned that, “Unless you do what you love to do, you will never become rich.”
When it comes to choosing the best career or business, a common consideration for most people would be, “ Where is the money?”
As a matter of fact, money is in ALL industries. You can be a millionaire in ANY industry, only if you’re one of the best!
You can become one of the best only if you’re obsessed with doing what you do. And you can only become absolutely obsessed and committed towards something is when you have a passion for it!
If you’re able to make a living following your passion and excel in it, money is all but a by-product. It’ll just come naturally.
All rich and successful people have one thing in common. They love what they do. To them, work is play, and play is work.
Adam Khoo is a very good example himself. He works 19 hours a day and 364 days a year! He’s an absolute workaholic! All his friends think he’s nuts! But to him, it’s not work, it’s fun!
So remember, do what you love and you’ll never have to work another day in your life!
• Delay gratifications.
I have also talked about this in one of my earlier posts, You Can Save Some Money Even If You Are Earning Peanuts.
What keeps people from becoming rich is their desire for instant gratifications. Human beings are inherently impatient and will always want to enjoy now rather than wait for future benefits.
It is precisely this reason that they don’t save enough, they don’t invest enough, and hence, they suffer when retirement comes or when emergency arises.
There are only two ways to use your money. You can either spend it or invest it. By investing, I’m not just referring to putting your money in investment instruments like stocks, currencies, or bonds.
Spending $3,000 on a solid seminar/workshop is considered a form of investment. I call it self-investment i.e. invest in your biggest asset – your mind. In fact, self-investment is the first form of investment you should be making before anything else.
Millionaires understand this and embrace the practice of ‘delayed gratifications’. They have the patience to wait for greater abundance in the future. And they invest a lot more than they spend.
• Make 100% commitment to your goal.
What does it mean to be 100% committed? It means when you’re 100% committed to a goal or a dream, it is no longer a wish, a hope or a want. It becomes an absolute MUST.
And when it’s a MUST, you’ll do whatever it takes (legally, morally and ethically) to achieve it. You’ll not allow anything to come in your way toward your goal.
You’ll go out of the way beyond your comfort zone and invest your sweat, money and time. If you’re willing to do that, you’ll ALWAYS find a way.
On your journey to achieving your goal, whatever you think may go wrong WILL go wrong. Obstacles and challenges will come to test your faith and endurance.
From time to time, you’ll find that you lack the time, the money, or the energy. You may encounter people who discourage you and things not going as planned.
So, if it is merely a wish or a hope to become rich, it is very likely that you’ll find a lot of excuses to justify why it cannot be done and will give up eventually because you’ll not get out of your comfort zone and do whatever it takes.
• Love taking actions.
Imagine how a child wouldn’t wait to build the castle he has in mind with his lego bricks. He doesn’t wait. He dives right into it. He immerses himself in it. He enjoys it. He loves it even if he faces obstacles along the way.
Millionaires do exactly the same thing. They take massive actions. They love taking actions because they can’t wait to get started to turn their dreams into reality. They think it’s fun!
Millionaires enjoy the dream building process because they love what they do, just like the child.
And they know that by taking actions, they are slowly, but surely, breathing life into their dream. They enjoy seeing their dream taking form and coming to life. It gives them a great sense of satisfaction.
I’ve taken actions to become an Internet entrepreneur by starting my blog. You can read about it in my first post, Ready-Fire-Aim.
I enjoy the process because I enjoy sharing with you what I’ve learnt in life and hope that you’ll benefit from it.
Although my blog has taken form, my dream has not. Well… at least not entirely. But it will… as long as I continue taking actions and not give up.
We’ve now come to the end of Part 1 of the Millionaire Secrets Series. I hope you’ve gained much from this article and start adopting the millionaire mindset.
There’ll be another 4 parts to the series, so remember to stay tuned!
Cheers~
P.S. If you reside in Singapore, you might want to find out more about Wealth Academy. If you decide to go for the free preview, contact me prior to that. I’ll tell you how you can get a S$100 rebate should you decide to sign up for the programme during the preview. My email is mark[at]thebigdreamer.com.
However, if you live outside Singapore, don’t worry. You’ll still be able to learn all the millionaire strategies from Adam Khoo. Simply hop over to his website, Secrets of Self-Made Millionaires to get a copy of his audio programme.
Whatever is taught at Wealth Academy will be included, except the millionaire game, personal email mentorship, WA forum membership and Adam’s updates of his investment portfolio.
Don’t procrastinate. Start right now.
If you like what you’ve read so far, come back for more! Or simply subscribe to my feed.
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