Wow Rebates

From: Adam Khoo

Re: The Million Dollar Interview

Dear Millionaire-To-Be,

Thank you for reading this special report right now because I believe you have come across this information for a reason. You see, I don’t believe in life being like a random throw of the dice where you accept whatever you get coming.

I believe that we have the power to create every aspect of our lives exactly the way we want it to be. And that very belief has helped me achieve goals and dreams that I never thought was possible when I was younger.

Back when I was young, I had serious difficulties growing up. I was poor at school, I was poor at sports, and I even got expelled once for serious misbehavior. I had such low self-esteem about myself that I never thought I’d ever amount to anything in life!

But I did.

I made my first million at the age of 26 and I’m a multi-millionaire today. I now own 3 businesses which pull in over $20 million in turnover annually and best of all, I love my “work” and having the freedom to design and live my life exactly the way I want it to be.

I’m not telling you this to show off. I’m telling you this to prove to you what is possible and achievable in life when you set your mind to it.

I managed to “make good” with the success and wealth principles that I learnt along my journey towards my goals that I believe if you also followed these same success secrets, you’d achieve absolutely anything you set out to do.

Because if an under-achiever like can do it, so can you!

What you have right now in this special report is an exclusive interview I did with one of my mentees who ‘hunted’ me down so I would reveal to him what my success secrets were.

Well, there will be no secrets today as I share with you no-holds-barred in this interview. This has never been released anywhere before so it really is something very exclusive, so sit back and enjoy!

Regards,
Adam Khoo

Ok Adam, how did you make your first million dollars at the age of 26?

Well, it was a combination of a lot of factors.

One is obviously through my trainings and seminars. I would say I made my million through a combination of training, running businesses, investing, and intellectual property.

These were my 4 major income streams.

1. So the first stream is through training itself and I charge for the talks and seminars I give, so that’s the first stream, right.
2. Then the 2nd stream is business, so the various businesses I set up. Some make money some lose money but overall they made money. So I made money from the profits through those businesses.
3. The 3rd one is through intellectual property which is books and audio programs, which I sell and I basically earn royalties of those things and the 4th is through my investments. My investments… mainly I invest mainly in the US market.

How long did it take you to make your first million?

Well it depends on where you would say is the starting point.

It’s very hard to say when because I mean, I started sometime very young as you know. But again it’s like the amount of money you make is not like that at first. It was very slow.

And then as you become better and better at what you do, then it’s during the latter part which really takes off. Yeah, so I would say I made my million within 3-6 years, depending on where you define as the ‘starting point’.

So if you were to do it all over again today, how long would it take you to generate a million dollars?

Less than a year.

Because once everything is set up already, it’s pretty easy.

If you were to mentor someone to your level of success, how long would it actually take that person to get where you are today assuming he’s motivated and stuff like that?

Well it depends.

It depends on the industry you go into and what experience he has in the industry in the first place.

So let’s say you’re talking about my industry, doing training, writing books, everything like that. Then it depends on which level he’s starting off from, as in, how much knowledge does he have about the industry.

What is the first piece of advice you give someone that wants to be successful?

Learn to sell.

Number one is you got to learn how to sell. I mean if you can sell, you can succeed in any business.

You got to learn to sell, you got to learn finance, you got to learn how to read numbers, you must love numbers, I’m sorry, you got to love numbers, you got to be very good at cash flow management things like that, because if you cannot manage your own personal cash flow, forget about managing the cash flow of a business. You have to learn these fundamentals.

So marketing, sales and marketing, you got be very good at that, very good at numbers, yea then of course the motivation is obvious; you got to be very motivated and driven and do something you love to do.

Do something which is in line with your passion. Because when you do that then your motivation is automatic. You don’t have to be disciplined anymore because you’re doing it for fun already. You don’t have to motivate yourself.

Like you don’t have to motivate a kid to play computer games.

What are the first 3 steps that someone should take if they want to be a millionaire?

Ok number one is to find out what they love, and find out what area to go in. And to find that out, first you got to find out what they are naturally good at so far. What do they like to do, and what is important to them.

I call it your passion, your values, and your talent. And then you find something which is in line with all these three.

Ok, then once you found that thing, then the next question is: ‘How do you take what you love and what you’re good at; how do you make it commercial? How do you commercialize it?’

Then the second step is selling; that’s where you got to use your marketing savvy, your selling savvy to then package it to a vibrant business or intellectual property. Yeah. So well basically that’s what I teach.

What is the most important lesson that you can teach someone if he wants to be wealthy?

Save money! Serious. Yeah.

In Secrets of Self-Made Millionaires, I describe wealth as an equation and I would say the equation is like this: 30% is making the money, 30% is saving the money and the other 30% is learning how to invest the money.

So a lot of people when they think of making money, they focus on the first 30%, and they ignore the 60%, so no matter how much money you can make, if you spend more than you earn, which is what a lot of my friends do, I know them personally, then at the end of the day you’re not going to become rich.

You’re only going to have high income, and high income doesn’t last forever. Because no matter how good your income stream is, it’s not going to last.

Because we’re in an era of globalization and competition where you think you’re in a very good business, two years from now someone’s going to overtake you.

So you better have that savings, so that when someone wipes out your income stream, you have the ability to create another stream.

So what are 4 things people absolutely MUST do to be successful?

You can quote my Ultimate Success Formula, they got to believe in themselves, they got to know what they want, they got to find the right strategy by bonding people, they got to take consistent action and they got to learn how to turn failure into feedback.

Why should people set goals if they want to be successful?

Because only when you know what you want you can then you can develop an effective strategy.

If you don’t know what you want then there’s no way you can develop a strategy. So the goals drive the strategy. It’s as simple as that.

So what if these people set their goals but they don’t meet them, what happens then?

Well again it depends on what you mean by don’t meet them.

I always say that when you set a goal, success is not about reaching your goal, because most of the time you don’t reach it.

But success is moving towards it.

So if you set a million dollars and you hit $700,000, did you fail?

To me you didn’t, to me you are still progressing. So it depends by what you mean when you fail. If you don’t get where you want to go, then it’s a question of going back and changing your strategy.

Either changing your strategy or taking more action and finding out what happened.

So sometimes changing strategy could mean, changing your marketing? Changing your target market? Changing your product? Or changing your whole business.

Sometimes if you change everything and it doesn’t work, then it may mean you’re in the wrong business!

How important is it for someone to overcome their fears in order to be wealthy?

Very important because I think everyone has fear.

But again to me I think a lot of their fear is perceived fear. And that fear comes from not knowing what they’re doing.

Like most people are afraid of investing, because they are afraid of losing money, and that’s because they lack the competence of how to invest. Its like if I ask you to climb a mountain, would you be scared?

Well it depends, if you never climbed one before in your life, you would be scared!

But if I put you through a10 week mountain climbing training, that fear is reduced. So that’s the thing, you can reduce your fear by being competent in what you do.

So is that the best way for people to deal with their fears?

That’s the first thing.

And after if they have achieved the level of competence and if there’s still fear, then it perceived fear already. Then sign up for our Patterns of Excellence program and learn how to change your state!

So what 3 beliefs must people have if they want to be a millionaire?

Basically you have to believe in what you are doing.

If you don’t believe in what you are doing, there is no way that they can convince people to buy their idea or product.

Of course the 2nd thing is to believe in themselves. Having this belief, I always find that it is useful to have this belief that everything happens for purpose. That’s a useful belief.

Because whenever you move towards a goal, life will throw all the s**t it can to you. So unless you have faith, you will not last. Must have faith.

So let’s talk about habits now. How Important are habits and what 5 habits must people have If the want to be successful?

Yeah, habits. Habits are obviously very, very important.

I guess habits are consistent actions that you take at a very unconscious level. Of course they are extremely important, habits are unconscious consistent action.

You can set all your goals and say that I will do all these, but end of the day it is your habits that will drive you, so your habits will either sabotage you, or they will be in line with what you are supposed to do.

In the Secrets of Self-Made Millionaires, I talk about the 9 Millionaire Habits.

I say the 1st habit is to take responsibility, every time something goes wrong, take responsibility for it rather than blaming. Because if you take responsibility then you will have the power to make changes.

The second thing is learning how to invest more than you spend.

So for a lot of people they tend to spend more then invest. I think you must have this habit of whenever you make money, you must learn to invest it.

But again that doesn’t mean always investing in the stock market. Invest in yourself; invest in education, buying books and things like that. I think that’s another habit.

And the other thing is having a habit of being proactive. Going out there and making things happen, instead of waiting for people to come and solve your problems for you.

The habit of striving for excellence is important. Because in any business that you go into there are many competitors, correct?

And 90 per of businesses in any industry lose money. Only 10 percent make money. So how you become the 10 percent, it’s by being the best. So if you are doing a children’s program, you better be the best, you better offer the best.

If you are opening a restaurant you better have the best food, if not don’t even open it!

To me it’s the habit of always wanting to be excellent. There’s no such thing as perfect. A lot of people want to be perfect, but no one can be perfect. it’s about being excellent, so start having a habit of asking yourself, how can I do this better, how can I do it better, to be paranoid at doing better.

Even now I’m not satisfied with my Wealth Academy program, Patterns of Excellence program, I’m not satisfied with my SuperKids program, I think it can be better all the time! So the moment you think you are the best, you are dead already.

Also start having a habit of doing more than expected.

This is related to excellence. So whatever people expect from you whatever your staff expect from you, whatever your participants expect from you, whatever your customers expect from you, make sure you deliver more than is expected.

But most people tend to do what they are expected.