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Millionaire Habit 5: Do What You Love The most common question that people ask me about getting rich is, what is the best career or business that will make me the most money? Should I go into education? Network marketing?


Options trading? Whats the best industry to be in right now? Well, you will nd that in ANY industry, there will be a minority who will be making plenty of money, while the majority will be struggling to survive.


Again, this is the minority. The majority will be just making enough to get by. Many people see me in the childrens education business making millions and think that its a lucrative business. Again, what they dont know is that I am in the minority. The majority of businesses in education are struggling to survive. 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, childrens 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. People become the best at what they do only because they eat, sleep, breathe, talk and think their business eighteen hours a day sometimes, they even dream about it as they sleep.


In other words, they are obsessed with doing what they do and are constantly nding ways to do it better. And the only way you can become totally obsessed and committed towards something is when you have a love and passion for it!


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 its not work , and that is why they become so good at it that they become market leaders and experts.


The reason why I dare say that I am one of the best motivational speakers around and was able to build the leading personal development training company is because I am totally obsessed with what I do. I love writing, developing curriculum and most of all, I love training and empowering people. It gives me such a great feeling to see people change their lives and achieving success with what I have taught them. In fact, as I am writing this book right now, it is While people are out there partying and celebrating the start of the New Year, I am in my ofce getting this book nished so it can be published in early All my friends think I am nuts for being a workaholic who works hours a day and days a year.


The only day I stop working is Chinese New Year, which happens once a year. Other than that, I am either training, writing or planning my nances, even when I am ofcially on vacation. What people dont realize is that to me, this is not work, its fun!


It is because of my obsession and total focus on what I do that has allowed me to overtake all my competitors to become the best in my industry.


Every successful millionaire I know has a love and obsession for what they do. One of my friends, Thomas Fernandez who made his fortune in the pest control business Pest Busters has a passion for nding new ways to kill pests. He is constantly obsessed with talking about cockroaches, bees, ants and rats. Another guy I know, Kenny Yap has an intense passion for sh. He thinks and talks about sh all the time. This guy is really mad about sh. In fact, whenever he gives speeches on life and business, he uses sh as a metaphor.


He even calls himself Kenny the sh and wears a tie with a sh design. His love for what he does has been the key driving force that has allowed him to build one of the largest ornamental sh companies in the world, Qian Hu Corporation.


Similarly, Tiger Woods is the best golfer in the world because he is obsessed with golf. It is his intense passion for the game that gets him to hit hundreds of balls under the hot sun every single day till he gets it perfect! It is not the money that motivates him.


It has always been the love for the game and the love of competing. Why doesnt 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 eld. If you read all their biographies, you will nd that none of them got into their industries because they thought it was lucrative. They got in because it was what they loved to do. They love to do it so much that they would even do it for free. This is why although they never have to work for money ever again, they keep working harder and harder.


It is because it was never work in the rst place. 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 nd 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? Playing with children? Havent you noticed that whenever you are doing what you love, the energy never stops? Its like no matter how tired you are, you will always nd the energy to do what you love. Well, this is the secret that will lead to your success and wealth!


You have to nd something you are extremely passionate about and build your career or business around it! When you do, you will nd 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! You see, many people have the mindset that they have to work very hard in life in order to become rich. They have got to force themselves to be disciplined and motivated.


They believe that when they eventually make enough money, they can nally do what they love to do and enjoy their lives. The answer is yes! You can always make a highly lucrative career out of any passion! You only need to learn how to make it marketable and learn how to commercialize it! This is exactly what you will learn to do in the chapters that follow! More specically, you will learn how to turn your ideas and passion into endless streams of income in chapters 8 and 9! So start asking yourself yourself l What do I love to do?


What would I do even if I didnt get paid? I guarantee you that when you start looking for them, you will nd no lack of role models you can learn from. Remember, do what you love and you will never work another day in your life! This is a recipe that is guaranteed to make you struggle in stress and misery all your life. When you do something purely for the money and not because of passion, you will nd it very difcult to stay motivated. After a while, you will burn out and give up from the stress and exhaustion.


Instead, you must do what you love to do now! Not only will you begin to enjoy your life and be happy but you will suddenly nd the natural energy and motivation that will drive you to give your best and become the best. When this happens, the money will automatically follow. Millionaire Habit 6: Acting with Integrity 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?


Interestingly, in the best-selling book The Millionaire Mind, author Thomas Stanley interviewed multi-millionaires and asked them what were the key factors that contributed to their wealth. Ranked number one was being honest with people. 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? Whenever I teach this in my seminars, people will always have two more questions for me. The rst question is, How do I know if I am truly passionate about something? If the answer is yes, then it is truly your passion. If the answer is no, then you are denitely in the wrong industry. They were not primarily motivated by the money but by the love of helping people.


The second question that people always ask me is, just because I love something, can I always make money from it? What if my 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.


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 they know that anyone who works with me will make alot of money. 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.


It takes twenty years to build a reputation and ve minutes to ruin it. If you think about that, youll do things differently Warren E. Buffett, worlds second richest man. When you merely want, wish or hope to achieve a goal, it will rarely ever happen. Everybody wants to be nancially free, but very few ever make it happen.


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. And if you cannot nd a way, you will make a way. For example, when George Lucas millionaire at 28 and creator of Star Wars wanted to revolutionize lm-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 couldnt be done. Instead of. 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.


In the rst chapter, I mentioned how Vikas Goel, Founder and CEO of eSys Technologies arrived in Singapore without a dollar, but managed to build a global billion-dollar company in ve years. How did he do it? Where did he get the money to get started? Initially he worked at a company called Karma. When the recession hit in the late s, Karmas parent company collapsed.


Instead of waiting to be retrenched, Goel took the proactive step Millionaire Habit 2 of undertaking a management buyout of the Singapore unit.


In order to keep the business going, he persuaded his customers to pay him in advance so that he could use the money to buy the products from his suppliers. The only reason his customers agreed was because Goel had built up his reputation as an honest and trustworthy man while dealing with them in the past. A few months later, he bumped into his old boss at Sim Lim Square. This is the power of building a reputation of trust and honesty. That was not all.


Goel also happened to meet up with an old friend and ex-customer in Sim Lim Square. However, when you merely have a weak wish or hope for wealth, you will never attain it. This is because the path to achieving any goal and creating wealth is never easy. It fact, it is extremely challenging and difcult. I can bet you that when you begin on your path to nancial freedom, there are going to be huge obstacles and challenges that will get in your way.


All the problems that you can possibly think of will come to test your faith and endurance and to stretch you out of your comfort zone. You will nd that at certain points of time, you will lack the time, lack the money and lack the energy. You may encounter people discouraging you, friends leaving you and things not going as planned trust me, I have experienced all this and more. If it is merely a wish that you have to become rich, chances are that you will eventually give up and nd lots of excuses of why it cannot be done.


This is because those that merely wish for success are never willing to stretch beyond their comfort zones and do what ever it takes to overcome all their challenges.


In addition, when something is merely a want, you will nd that your mind will be lled by a dozen other wants that will take away your time and attention. After a while, you will nd yourself being distracted by other things that come your way. Has this happened to you before? So, the only way you will ever achieve your goals of becoming rich is to make it a MUST for yourself.


I remember that when I was in Secondary school, a group of close friends and I shared our dreams about becoming millionaires and business owners. The only difference was that for many of them, that dream was merely a dream. For me, it was an absolute must! I was so totally obsessed with the idea that during those school lunch breaks I would be designing my company name cards with the title Adam Khoo CEO.


Sure enough when I approached my friends with the opportunity to set up the disco business venture earlier mentioned in chapter one , many of them started giving excuses like we are too busy, our parents will object, what if it doesnt work, what if we lose money, we have something on over the weekends and so on.


Because their goals were not an absolute must to them, they naturally let all the perceived obstacles and excuses get in their way. Because it was a must for me to make money, I knew that I would nd a way to make it happen Have you ever had a list of goals to achieve or actions to take, but kept putting them off?


Im sure you have, as it is pretty common to procrastinate. Did you eventually get some of them done? Why is it that you eventually got some things done but not the rest? I would bet that those things that you got done eventually became a must for you! It eventually crossed the deadline and you HAD to get it done. As for the rest, we will usually continue putting it off until it becomes an absolute must one day. You see, we will never do anything in our life until it becomes an absolute must for us.


The trouble is that when something becomes a must, it is often too late. For example, I know a friend who set a goal to quit smoking. He knew that it was doing him harm and he really wanted to. Sure enough, he kept procrastinating year after year. Suddenly, in , he was diagnosed with lung cancer and told that if he didnt stop, he would die in six months. He hasnt touched a cigarette since.


You see, when something is a must, anything can be achieved. At the same time, when you make nancial freedom 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 nancially abundant is rarely a must for most people.


It is merely a wish. However, it is always a must to survive So once again, to achieve all your nancial 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.


When Vikas Goel needed to get the funds to start his company eSys Technologies, he walked into the Bank of India to get a bank loan. In order to persuade them that he was sincere and condent, he pledged his entire future family inheritance from India.


It was this level of commitment that made it possible for him to overcome all the odds that stood in his way. Many people have the perception that Lucas was just a genius who was fortunate enough to dream up this naturally successful movie.


If you read about the history of Star Wars, you would know that up to the day of its release, everyone believed that it would be a major op, including the actors! During production, anything that could have possibly gone wrong went wrong! At the end of sixteen weeks of lming, everyone had every reason to believe it would fail. The movie had grossly exceeded the initial budget, it had overrun the lming schedule, the special effects unit could not create the desired effects and everyone had the opinion that it was a kiddy movie.


As a result, 20th Century Fox studios wanted to pull the plug and gave Lucas three days to nish two weeks of work that was lost. What made things worse was that Lucas suffered severe chest pains in the middle of all this and was warded for severe stress and exhaustion.


Most directors would have given up and cut their losses, knowing that it was impossible to achieve it all in three days. If Star Wars had been a wish, it would have failed there and then.


But to Lucas, it was a must Lucas hired a triple crew, divided the stage into three sets and directed three scenes concurrently.


Three days later, Star Wars was delivered and the rest is history. By the end of its rst theatrical run, Star Wars became the most successful lm in North American history. As a teenager, Lucas set a goal of becoming a millionaire at the age of thirty. He was off by two years: Lucas made his millions by the age of twenty-eight. He was so committed to making the sequels an even bigger Everyone thought he was crazy as the number one rule as a moviemaker in Hollywood is to never use your own money, even if it is your own lm.


His belief and commitment paid off. However, you dont necessarily have to risk all your money like Vikas Goel or George Lucas to get totally committed to your goal.


There are other ways of putting yourself on the line. As for me, I personally put myself on the line by making public commitments. Whenever I set a goal, I would announce to everyone my plans because I know that the moment I do so, there would be no turning back. I had to make it happen! Do whatever it takes to nish this book and apply what you learn, and I will guarantee that your wealth will multiply many-fold.


Millionaire Habit 8: The Ability to Turn Failure into Success The nal millionaire habit is the ability to accept failure and to turn it into success. Most people have the impression that successful people never fail and that millionaires never lose money.


As a result, many people fear failure and shun those who have opped. This is a huge lie and distortion that prevents people from becoming rich. The truth is that everybody fails at one point or another. In fact, millionaires fail more times than anybody else because they take so much more action.


I have made countless stupid mistakes, lost a lot of money and have failed so often that I have lost count. So mark my words, you will fail many times before you ever succeed. Whats important is what you do about failure. This is the critical habit that makes the difference between the rich and the poor.


There are three ways people respond to failure. The rst group of people get so disappointed by their failure that they just give up! They would say,I tried it but I failed or I tried investing but it didnt. They see failure as the end of the game, as the nal verdict that they are not meant to succeed. They give themselves reasons like Maybe I am not good enough or its just too difcult. Have you ever been guilty of doing this before? Sure enough, this way of responding to failure will see many dreams fade away.


The second group does not give up that easily. When they dont reach their outcome, they would say, Let me try again. Lets not give up. So they quickly get on their feet and try again. If their business fails, they go start another business. If they lose money investing in the stock market, they will go and try to buy different stocks.


Will they eventually succeed? The answer is No. It is because this group may try and try again but they dont change their strategy. They keep making the same mistakes, doing the same thing again and again. Sure enough they keep getting the same disappointing results. So what happens after a while? They eventually get so frustrated and tired that they too will throw in the towel. Some may even begin to accept mediocrity and fear to dream of anything better. Do you know anyone who has been caught in this trap?


Have you ever done it yourself? My policy is to learn from the past, focus on the present, and dream about the future. Im a rm believer in learning from adversity. Success is the result of good judgment. Good judgment is the result of experience. Experience is the result of bad judgment Anthony Robbins Millionaires approach and perceive failure very differently.


When they dont reach their goals, millionaires do not see themselves as having failed. Rather, they see themselves as getting a learning experience! To them, failure is not the end, but only a detour. They see it as feedback that they are not using the right strategy. They then take this feedback, learn from the experience and change their strategy! If changing their strategy still does not get them the result, they will once again get more feedback, change their strategy and take action again.


They keep doing this again and again until they get the results they want! By doing so, they turn their failures into success! Very seldom do millionaires achieve their success on the rst go. Many achieve their nancial dreams only after countless learning experiences and setbacks.


However, many agree that if not for those learning experiences, they would never have found the solutions to their outcomes. Sim Wong Hoo, the founder of Creative Technologies did not succeed until numerous business failures. After spending countless hours and hundreds of thousands of investment dollars on the product, it turned out to be a dismal failure.


Instead of beating himself up and nding lots of excuses, he saw it as feedback that the market was just not ready for the product. It was just too expensive and complicated for its time. What did he do? He went back and changed his strategy. Eventually, after even more failures, he eventually came up with the idea of a low cost sound card called the Sound Blaster. And that one idea turned Creative Technologies into a billion dollar global company.


You see, all you need is only ONE great idea that will make you your fortune. However, that ONE great idea hardly ever comes the rst time around. It only comes after lots of bad ideas. Another great example that never fails to inspire me about turning crushing failure into resounding success is the story of Steve Jobs, the founder and current CEO of Apple Computers. Steve co-founded Apple at the age of 21 in As Apple continued its phenomenal growth, it was decided that professional management had to be hired to run the huge organization.


However, within two years, the CEO and directors at Apple could To make things worse, Apple sued Steve for neglecting his duties. While those in the business world wrote him off, Steve who possessed the millionaire mindset, took it as a huge learning experience millionaire habit 8 and took the proactive action millionaire habit 2 of starting a new and better company called NeXT computers. He believed that he could develop a range of hardware and software that would be even better than that at Apple.


Did he succeed? Unfortunately, NeXTs hardware division became a huge failure. Undaunted, he again took the feedback and went on to found Pixar Animation Studios, which became a huge success in creating the rst breakthrough fully digitally animated movie Toy Story. In the meantime,Apple Computer was on the verge of bankruptcy in after suffering from internal mismanagement and lack of new product innovation. When Steve took over, he red all the unproductive executives and spearheaded the launch of revolutionary products like the iMac, iPod and iTunes.


If not for Pixar, he would not have become a pioneer in digital animation and if not for NeXT software he developed, Apple would never have the Mac OS X operating system that has made Apple a huge success today. It is for this reason that many millionaires believe that everything happens for a reason and that adversity is often opportunity in disguise provided you learn from your experiences and continue to take consistent action!


I dont mean loving money to the extent that you are a slave to it, but loving money for the good it can do for you and the people around you. Most people I share this with often respond by saying, Well, of course I love money! Of course I respect money. Who doesnt?


If I didnt love money for what it can do, I wouldnt be reading this book. Well there are many people who consciously desire to be rich and know that money is important. However, at a deeper level they may not realize that their subconscious mind either holds many limiting beliefs about money or associate lots of negative feelings towards money.


These negative associations cause them to repel money and prevent them from becoming rich without even realizing it. Do you feel that although you consciously desire to be rich, but something holds you back? Have you experienced working hard to achieve your goals.


However the moment you start getting results and seeing your wealth increase, you tend to go into the pattern of sabotaging it? Like the moment your bank account hits a certain amount, you start losing your motivation until the money dips below a certain level then you start working hard again?


Its like your subconscious mind is preventing you from going beyond a certain level of wealth. I know of some friends who say that the moment they get a certain amount of money, they will tend to spend it away or lose it. If you are experiencing the same phenomenon, it is because subconsciously, your mind doesnt want you to be rich. Again, its either because you have a lot of negative associations towards money or many limiting beliefs are holding you back.


I remember a time when I gave a seminar to a group of teenagers and I was teaching them about the power of spotting opportunities and taking action on them. I waved the bill in my hand for a good 10 minutes asking if there were any takers, but none came up. Eventually, one boy hesitantly came up and took the money. I asked. The answers I got were: I didnt want people.


In other words, what prevented them from taking action on any opportunity were the limiting beliefs and associations they had formed about money. The scary thing is that the same thing happens in life! Why is it that some people see and act on money making opportunities everyday while others just dont see them? Again, it is because of the beliefs that have been formed in their subconscious mind. As many of us grow up, we may unknowingly pick up many limiting beliefs and painful associations towards money from our family members, friends, teachers and relatives.


Many people are taught that if they think about money or desire money, then they are being money faced or money minded. As a result, their subconscious starts associating thoughts and desire for money as being bad or evil.


This explains why those teens did not dare show that they are a money minded person by taking advantage of the opportunity. Have you been taught to believe this as well? Because many people who come from working class families see their parents working so hard for money, they subconsciously believe that working hard is the only way to make money.


This belief causes them to fail to realize that big money is from ideas and not just hard work. What they dont realize is that there are opportunities like this everyday! Warren Buffett made his billions by buying companies at half of what they were really worth. Entrepreneurs make money by buying something a lot cheaper than what it is worth, re-packaging it and sell it for ten times the price! If you come from a poor or middle class family, there is a good chance that you may have been taught that money isnt everything, money doesnt grow on trees, rich people are greedy, money is not important, if you have a lot of money then people will cheat you, investing is risky, money will change you.


As a result, your subconscious mind associates so much fear, hate and negative feelings towards money that it will stop you from ever becoming rich. You may feel this inner power struggle inside you such that although you set your goals to become rich, but somehow, you Your inner mind wont allow you to become rich as it would give you more problems or make you into a bad person.


However, you have to understand that your friends, parents or teachers may have taught you all these things because they probably thought they were passing on good advice. Their parents and teachers probably taught it to them as well, and that is why they have never become rich. Very often, they also choose to believe all these negative things about money because it helps them to justify their own lack of money. When someone says, well When someone says, I love my family and thats why I have no time to make money, they are just giving themselves justications.


So, it is really important for you to stop for a while and really reect about the inner feelings you have towards money. I know that consciously you respect and love money for what it can do, but I want you to set aside your pre-judgments and really think about the subconscious beliefs and feelings that you associate with money.


I once had a participant, Joshua who couldnt understand why despite working hard, having a strong education and learning the strategies of wealth creation, just couldnt seem to hold on to his money for long.


Every time he closes a few big deals he was a property agent and made a nice pile of cash, he would sabotage his success by spending it all away. He just couldnt understand why. When I got him to relax and think back into the past, he was shocked to nd the answer. More Software Informer 1.


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