Friday, September 26, 2008

Making It Big

Thanks to a friend who forwarded me this blog post, I now know who Adam Khoo is. He actually wrote this post actually a full 2 years back, but I certainly thought that it's will remain extremely relevant particularly to those who seek to build a business or are in the midst of building one.

Adam Khoo is a self-made millionaire in Singapore by the age of 26, and is now "the Executive Chairman and Chief Master Trainer of Adam Khoo Learning Technologies Group Pte Ltd and a director of seven other private companies. Adam is also a director of the Singapore Health Promotion Board (HPB)." His latest post is with regards to "why he loves stock market crashes" which is certainly something useful to ponder over. I certainly believe that over one's lifetime, you just need 3 stock market crashes to make it big in terms of wealth - while at the same time not let greed blind you.

But this post isn't about the stock market. It's about "making it big", like Adam Khoo. He wrote that...
...recently, someone came up to me on a plane to KL and looked rather shocked. He asked, ‘How come a millionaire like you is travelling economy?’ My reply was, ‘That’s why I am a millionaire.’ He still looked pretty confused. This again confirms that greatest lie ever told about wealth (which I wrote about in my latest book ‘Secrets of Self Made Millionaires’). Many people have been brainwashed to think that millionaires have to wear Gucci, Hugo Boss, Rolex etc… (I shop at G2000 by the way) and sit on first class in air travel. This is why so many people never become rich because the moment that earn more money, they think that it is only natural that they spend more, putting them back to square one.

...I refuse to buy a first class ticket or to buy a $300 shirt because I think that it is a complete waste of money.

Does that then make him a miserly miser? ‘What is the point in making so much money if you don’t enjoy it?’
The thing is that I don’t really find happiness in buying branded clothes, jewelry or sitting first class. Even if buying something makes me happy it is only for a while… it does not last. material happiness never lasts, it just give you a quick fix...

Instead, what make ME happy is when I see my children laughing and playing and learning so fast. What makes me happy is when I see by companies and trainers reaching more and more people every year in so many more countries...

I think the point I want to put across is that happiness must come from doing your life’s work (be in teaching, building homes, designing, trading, winning tournaments etc…) and the money that comes is only a by-product. If you hate what you are doing and rely on the money you earn to make you happy by buying stuff, then I think that you are living a life no better than a prostitute.
His philosophy certainly resonates with me, and although I never made it as big or as fast as he obviously did, I share most if not all of his views on the post. And clearly, you don't have to be the Penang Chief Minister to fly economy. (This is however, not a plug for Adam Khoo's books and training - make your own informed decisions on that one ;-))

So for you young people out there with dreams of a bright (and well to do) future, remember to take a leaf of Adam Khoo. ;-)
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