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Rich Dad’s Cashflow Quadrant
By Robert T. Kiyosaki

Rich Dad’s Guide to Financial Freedom is to take small baby steps.

Step 1: Mind Your Own Business
Access your own financial statements. Identify your Income, expense, assets and liability. Ask yourself what you want to achieve in the next 5 years.

Step 2: Take Control of Your Cash Flow
Pay yourself and save for investment. Reduce debts and expenses to be able to invest more.

Step 3: Know the Difference between Risk and Risky
Identify your risk in terms of investing and not knowing how to invest. Increasing your financial intelligence by reading newspaper, magazines, books and watching news.

Step 4: Decide What Kind of Investor You Want To Be
Continue to increase your Financial Intelligence by reading newspaper, magazines, books and watching news. Talk to people of expertise in investment and learnt from them.

Step 5: Seek Mentors
Knowing and talking to people who have succeed and failed to learn from their success and failures.

Step 6: Make Disappointment Your Strength
Know your weakness and never afraid to fail. It is only when u fail that you will learn the most. Make Mistakes, Start Small, Take Action!

Step 7: The Power of Faith
Believe in Yourself and Take Action!

5 Criteria of a Profitable Home-Based Online Business

  1. Strong demand for the Product or Service
  2. Ideally No Inventory
  3. Low Startup and Running Costs
  4. Global Reach
  5. High Margin Profit

10 Steps to setup a successful Online Business

1. Identify your Passion & Expertise
2. Find a Hungry Niche Market

  • Find a Niche Market related to your Passion & Expertise
  • Ensure sufficient interest and demand
  • Identify a problem to be solved

3. Size up Competition & Profit Potential
4. Find or Create Products and Income Streams

  • Sell a Physical Product
  • Sell A Digital Product
  • Sell A Service
  • Sell Other People’s Products (Affiliate Marketing)
  • Create a Content Rich Site & Sell Advertising Space
  • Sell Drop Ship Products
  • Use Multiple Revenue Models

5. Design & Build Your Website
6. Write Powerful Sales Copy

  • Sell Benefits and Not Features
  • Use Power Adjectives & Specific Figures
  • Speak in First Person

7. Setup an Order Payment System

  • Variety in Payment Method
  • Comprehensive Company Information & Support
  • Post Certifications for the site
  • Secured Payment

8. Draw Customer to Your Site

  • Get Traffic from Search Engines
  • Post Links on Related Websites
  • Give Away Free Valuable Information
  • Viral Marketing
  • Advertising on Free Classified Ad Sites

9. Create an Opt-In List of Customers
10. Build a Relationship with Your Customers until they buy

Information are extracted from the book “Secrets of Self-Made Millionaires” by Adam Khoo

Income = Value x Time x Scalability

Income is defined as spending more time to create value at work which in turns boost income. The power of scalability can further boost income by reaching out to more people when creating more value through increasing time spend at work.

The 4 basic strategies of Scalability are:

  1. Earn Royalties and fees from licensing or selling intellectual property
  2. Magnify your value by reaching more people at one time
  3. Earn recurring commissions from sales and referrals
  4. Earn profits, dividends and royalties from businesses

Information are extracted from the book “Secrets of Self-Made Millionaires” by Adam Khoo

Many people talk about wealth and managing wealth. So, what does wealth means to you?

Wealth is defined as

  1. Your Monthly Expenese
  2. Your Liquid Assets
  3. Your Passive Income

The ability to manage this three aspect of wealth will eventually determine a person’s wealth level. Most people Earn, Spend then Save. Thus, most of them are unable to built on their wealth. It either remain the same or worst decreases overtime. To really maintian and increase one’s wealth one must Earn, Save & Invest, Spend. This way, you are sure that there is a positive income every month. Eventually, you will be able to spend comfortably on the luxuries life that is intended.

The defination of having a comfortable positive income is further defined as

  1. Financially Stable (Save enough for 6 mth basic needs and insurances covered)
  2. Financially Secured (Able to cover monthly basic needs)
  3. Financially Freedoom (Able to stop working and sustain the current standard of living indefinitely)
  4. Financially Abundance (Able to live your desired lifestyle and sustaining it)

Information are extracted from the book “Secrets of Self-Made Millionaires” by Adam Khoo

I have just embark on my 5th book on Financial Wealth. Guess what, a 4th book from AKLTG. This time round is the 2nd edition of the #1 National Best Seller Secrets of Self-Made Millionaires by Adam Khoo.

I have only finish section 1 of the book and here is what I have learnt:

Seven Steps to Financial Abundance

  1. A Millionaire Mindset (Sees every problem as an opportunity)
  2. Setting Financial Goals
  3. Creating a Financial Plan
  4. Increase Income Massively
  5. Manage you Money & Reduce Expenses
  6. Grow your Wealth
  7. Protect your Wealth

9 Traits of a Millionaire

  1. Always Exceed Expectation
  2. Be Proactive
  3. Take 100% Responsibility
  4. Delayed Gratification
  5. Do What You Love
  6. Acting with Integrity
  7. Be 100% Committed
  8. Ability to turn Failure to Success
  9. Respect & Love Money

These are really good points for me in terms of managing my wealth as well as being a person at work. The 9 traits of a millionaire can be effectively apply to a person working behavior and his/her attitude towards things. A good reflection of my current state and guess I have a lot of adjustment to do towards my mentality in doing things. A good lesson learnt!

2014 New Year Resolutions

"Enjoy what you love doing and makes a living out of it."

Personal Developement

- Learn to Sell

Travel Wishlist

- USA
- Sipadan, Sabah
- Bangkok, Thailand

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