Secrets of Building Multi-Million Dollar Businesses

Adam Khoo has done it again.

He has created a comprehensive guide to making money -- this time it's a book on making money by building million dollar businesses. As he has done in his investment book, for example, Adam has packed several books' worth of information into one big and very readable volume.

And don't feel intimidated by the title. If you believe that aiming for a multi-million dollar business may be reaching too high and that you'd prefer something a little -- or a lot -- smaller, suspend that thought for now.

First of all, the strategies in this book can be used to build and especially grow a business of ANY size. So just because you may have a small consulting firm, for example, or a local specialty restaurant, and would like to keep it that way, aside from wanting more clients or customers, don't think this book isn't for you.

And the second reason why you should keep reading is this:

<<Click Here>>

As Adam points out in all his books I have read so far, your mindset is crucial for your success. Unfortunately, most of us place too many limitations on ourselves in terms of what we believe we can achieve. You'll discover ways to break out of those limitations and set your aim at higher goals.

In fact, after sharing his own rags to riches story, Adam provides a manual on creating that success mind set. Doing this kind of work for himself has started Adam on his journey from failure to millionaire, and he continues to provide guidance on how to do the same in his training seminars as well as in his books, including this one.

And you won't be just reading about it, but there are exercises included and worksheets to fill out, so you'll have the opportunity to get actively involved and recalibrate your own mindset.

You may find that you've been holding yourself back all these years, and that now is the time to break free and go for what you'd really like to accomplish.

From there, Adam continues with a wealth of very solid information on how to set up and run a business, and how to take it to the level of a million dollar business (and beyond, if you so choose).

In fact, at the end, he even shows you how you can take your company public and/or turn it into an international corporation. High aims. But it's your choice just how far you want to take it. Adam himself discusses his personal choices in this regard -- and the reason why he has made them. I found that very interesting and helpful.

Here are some of the specific things you'll learn:

* What kinds of skills it takes to be a successful entrepreneur and how to acquire the skill set you'll need.

Here, Adam demonstrates how a pattern of blaming is holding most people back, and he offers concrete how-to steps to overcome that limitation. He also provides examples, as he does throughout his book, from his own experience as well as other businesses. Those examples make the chapters highly compelling reading and effectively illustrate what not to do -- and what to do instead.

He provides a case study from his own experience -- when he first tried to market a seminar on NLP for business success. First it flopped -- just one person signed up. But Adam didn't buy in to the excuses those around him offered and instead took responsibility. He asked his customers why they hadn't signed up, got the three main reasons, took care of those as he redesigned his presentation, and bingo! People started signing up.

Another skill set is constant innovation. Nothing works forever, so regular tracking is crucial -- that and flexibility.

He provides more examples here, from his own company and others. Remember Alta Vista? It failed to keep up, and Yahoo took over, at first, and then Google came along. Now, when we talk about looking for something online, we just Google it!

Yet another key skill set includes money management, as well as operational and systems development. He provides McDonalds and its founder Ray Kroc as an example here.

Once the basics are in place, Adam proceeds with the how-to for actually setting up that million dollar business. Here are some of the things you'll discover:

* How to come up with a million dollar business idea. The key here is to develop a revolutionary product or find one that exists and deliver in revolutionary way.

If that, and the requirement to be the "best," sounds intimidating, just keep on reading. There are countless ways to achieve that. Adam lists what it will take, from passion, and specialized knowledge to a unique competitive advantage. And one of the best ways to get that advantage is to solve the problems that your prospective customers have, often with competing service providers.

One of his examples is 7-Eleven. At the time they got started, convenience stores were open for much shorter hours, making it impossible for people to get what they needed later in the evening or earlier in the morning. Now, of course, 7-Eleven has its stores all over the world.

To help with that, Adam shows you how to select your target market and analyze what that market wants so you can give it to them.

Next it's time to actually plan your business, and the section that shows you how to do that doubles a guide to creating your whole business plan.

Then, once the business is in place, you'll need to know how to run your business (rather than letting your business run you). Part of this section includes information about effective hiring and employee management.

The following section on how to market your business is my favorite:

This is in fact a chapter that's highly valuable for any business. It includes all the key ingredients, including how to set up and implement a marketing plan, how to write a sales letter, how to sell face-to-face, (an excellent primer on sales!), and so on. And yes, lots of great examples to illustrate how they work, and worksheets so the reader can actually implement them.

One of the most powerful tools in that chapter is Adams Profit Multiplication Formula, where you basically just plug in your numbers and can see instantly how you can improve your profits. Of course he also provides detailed plans for how to increase profits over a period of time by implementing a variety of strategies. Included is a list of 46 ways to increase your leads.

In the next chapter, Sales and Profits, he shows you many ways to connect with your leads and converting them into paying customers. From building rapport to asking the right questions and listening, it's comprehensive primer on sales skills. This chapter includes several lists of things you can do to increase sales and revenue.

Once you've gotten that far, your business should be humming along. Now you'll need to build an effective team, so he gives you a manual on hiring, training, and how to turn your employees into a team that can operate without constant need for hand-holding.

And that's crucial if you want to expand because otherwise, you'll run yourself ragged and set yourself up for failure.

Finally, there's a big section on money management, and one on taking your company international (and public, if you so choose).

All in all, an excellent manual on how to build your business, one that will be useful to any business owner as well as those who would like to become business owners.

If I had to criticize something about the book, it's the fact that the title might scare off a lot of people who might really benefit from reading it. Yet I realize that the title also represents the unique selling proposition of this book, and Adam definitely delivers.

<<Click Here>>

Profit From The Panic

Inspired by the global financial meltdown, Adam Khoo and his co authors have come up with another best seller book called “Profit From The Panic”.Their primary objective of writing this book was with the hope that it would assist more ordinary people to be more investment savvy. We cannot deny the fact that the global financial meltdown had affected every economy in the world. From Wall Street to Main Street, everyone was affected. However, it is without a doubt that main street, the ordinary people, are most affected by this economic downturn. Many have not only lost their retirement nest but also their homes and jobs. Thus, this trio has come together in order to produce this insightful book about the global financial meltdown that is specifically geared towards bringing awareness to the general masses. In addition, they have also pledged to donate the royalties from this book to charity in order to assist the down trodden. 

For the majority of the public not schooled in financial wizardry, the reasons for the global financial meltdown are baffling. This is where one of the authors, Ryan Huang did an excellent job in explaining and outlining the reasons for the global financial meltdown. The trio of authors who came up with this book comprises of Adam Khoo, Conrad Alvin Lim and Ryan Huang. Adam Khoo is one of Singapore top best selling author with seven bestsellers to his credit. An extremely successful entrepreneur and a peak performance trainer, he had touched the lives of over 355 thousands people positively over the duration of 15 years as a trainer.  

Conrad Lim, on the other hand, is one of the very few successful online traders based in Singapore. His intimate grasp of technical analysis and online trading strategies has made him one of the most sought after online trading master. He was also the co-author together with Adam Khoo for the number one bestseller in Singapore for 2007, “Secrets of Millionaire Investors”. A journalist by profession, Ryan Huang works with Channel NewsAsia. His coverage of international news allowed him to be very well informed about the circumstances surrounding the global financial meltdown.  

“Profit From The Panic” is not merely a book that seek to enlighten us about the global financial meltdown. In fact, the book goes deeper than that. It also explain how instead of just licking one’s wound as a result of the biggest financial catastrophe since the Great Depression of the late 1920s, one can actually turn the whole scenario around. Each chapter of the book lay down the ground work towards a deeper understanding of how the current downturn in the economy is actually a blessing in disguise for even the novice investor.  

<<Click Here>>

Flowing from explaining the reasons for the global financial meltdown in chapter one, chapter two of “Profit from the Panic” explain in a simple but clear manner how the financial market works. With case studies based on historical data, the book explains the intricacies of the financial market in such a manner that even a lay person will have no difficulties grasping the concepts and principles behind the inner workings of the financial market. For example, with the use of the S & P 500 index, the authors managed to illustrate the point that regardless of the short term fluctuations in the financial market, in the long run, the financial market will always be on the uptrend. This illustration also permitted the authors to introduce the concept of long term investment strategies into the picture.  

In chapter three and four, the authors introduce the concept of “Crisis Sectors” which tie in seamlessly with the notion of long term investment. A point of interest which the authors highlighted was that 80% of investors actually lose money due to the fact that their investment strategies were based on the short term. As they pointed out in chapter two of their book, the financial market is prone to unpredictable short term fluctuations and it is only in the long term that the market will continue to rise. As such, they keep stressing the importance of investing with a long term objective. The case for long term investment strategy is even made stronger with their example of comparing a person’s lifetime earning with a stock portfolio running across the same duration. Here in these two chapters, they also introduced the use of Exchange Traded Fund (ETF) to buy into the market. For many of us, ETF is a relatively new concept in financial investments. Nevertheless, the authors were able to convince me about the benefits of ETF over unit trusts.  

The preceding chapter five and chapter six discuss about how one can learn to pick winning stocks amidst the chaos of the financial market. Here in this section of the book, the authors teach readers how to buy stocks base on its “Intrinsic Value”. They also illustrated with examples of how to arrive at the intrinsic value of a stock. Coupling this concept with a long term investment strategy, their analysis shows that investors will always be on the winning side. In retrospect, all the steps are clearly defined by the authors. Any novice investor will have no difficulty at all in trying to follow what the authors are trying to share with their readers.  

In the ending chapter of the book, the authors provided a summary of what was covered inside the book. In addition, they also leave a few cautionary advices for readers to follow to avoid the mistakes that most investors made. Financial risk management is also covered within this chapter. Readers are well advised to pay heed to what these successful and professionals have to say regarding the risk management especially in a highly volatile market like the financial market.  

In conclusion, the book provides value for its readers and is an excellent read. The tone is light and even on occasion humorous. It is not overbearing as with most books on financial investing. For those thinking of taking control of their financial destiny by investing in the financial market, then this book is a must read. The insights offered by the authors will save readers a lot of grief later on than when one decided to invest blindly.

<<Click Here>>

Secrets of Millionaire Investors

 

There are a lot of books out there on how to become a millionaire, and quite a few on investing as well.  Mostly, they’re disappointing.  The millionaire books might be inspirational, the good ones anyway, and they may have some advice that’s useful, but in order to actually making them work, you would have to sign up for follow-up seminars and the special, proprietary coaching programs of the authors, all of them expensive.

And about those books on investments – they tend to be disappointing for a different reason:  Either they’re too basic and conservative, in the vein of promising you that you too can become a millionaire if you invest 10% of your salary for the next 40 years. 

<<Click Here>>

Or they are, once again, too vague.  They might provide introductions into some of the basics of certain aspects of stock trading, but if you’d try to actually follow their advice, you’d soon find yourself in hot water.

Not so with Adam Khoo and Conrad Lim’s book, Secrets of Millionaire Investors.  Just from looking at the title, I would have probably expected more of the same.  But Adam and Conrad actually provide the blueprints – and the details – on how to make investing work.

The book starts with a bang – taking us right into the world of trading stocks, and the challenges Adam faced during his first attempts at making it work.  Let’s just say it wasn’t a pretty sight.  For two years, he played it safe after that.

But the failures were just stepping stones, prompting Adam to seek out mentors and models from whom he could learn, something he discusses in much detail in some of his other books, for example in Master Your Mind and in Secrets of Self-Made Millionaires.

His key role model:  Warren Buffett, arguably the world’s most successful investor.  He studied what Buffett had done and quickly saw where he himself had gone wrong.  His other investing books were of the sort I mentioned above – providing good but incomplete information, and Adam learned the hard way that a little knowledge, even if it’s good, can be very dangerous.

So he set out to learn everything he needed to know to become a successful investor, and started to apply what he learned.  First he focused on Singapore, but he quickly moved on to the U.S. stock market, a much more dynamic marketplace.

But even skilled investing in the stock market only gets you so far.  He soon noticed that some of his friends doubled their money in weeks...  by buying options.

So he attended seminars and quickly expanded his expertise to options as well.

Next, Adam’s co-author, Conrad Lim, shares his own rags-to-riches story.  He decided to learn about the stock market after going through several business failures and a bankruptcy.  I actually find that inspiring.  It means that even after thorough failure, you have a chance to better yourself, and become wealthy.

On his quest to learn about the stock market, Conrad too suffered the failures caused by good but incomplete information.  He quickly learned from his mistakes, though, and slowly, he was making gains.  After about a year, he was consistently earning a nice full-time income just from trading stocks, and things went uphill from there. He went from failure to becoming someone people sought out for advice.

Next, the book goes into the meat of investing, starting by dispelling the myths perpetrated by most of the other books, especially the one about the correlation between low risk and low return on one side, and high risk and high return on the other.

A poignant quote by Warren Buffett underlines that point:

“Risk Comes from Not Knowing What You Are Doing”

And that’s the situation the book sets out to remedy.  I was amazed at the wealth of detail the book went into – efficiently and clearly explained in its 272 pages.  And not just regular stock investing either, but all the fancy stuff, including options and short-selling.

Here’s some of the kind of information covered in this book:

1.  Basic principles of how the stock market works, and how to work the stock market successfully, including such gems as how to make sure you get out early if you picked the wrong stock without getting burned too badly.

2.  In a chapter, called “The Idiot Proof Way To Making Money” the authors explain the first and  most basic system for making money in stocks.  They argue that with the information they provide, it’s possible to achieve just about risk-free annual returns.  The only “skill” you need is patience.

Have you ever been at those teaser investment seminars, where they tell you about surefire ways to make money in the stock market and show you some fancy charts that they say will tell you exactly when to buy and sell and so on?  I have.  And then they say that we’d get all the info we need to actually apply this information if we bought into their $5000 or so program.

Reading this chapter brought back those memories because all the charts they showed (and many more) are right here in this book, starting with this chapter. The difference:  They’re explained in so much detail that you can actually apply that knowledge.  That’s when I really started to pay attention.  This was good stuff.

It teaches you how to buy, how to sell, when to buy and sell, and so much more.  The “more” is key, of course.  If you did just the idiot proof techniques, you could make a nice chunk of change, but it would probably be hard to become really wealthy that way.  That’s why the authors added many ways to turbo-charge the process.  And, something very important, especially when the economy goes through challenging times – they’ve provided plenty of ways to make money no matter what the economy does.

The next chapter is about Value Investing, Warren Buffett’s secret.  But this goes way beyond the kind of information you can buy at a regular bookstore.  And one of the key skills you learn in this chapter: How to evaluate a business and the potential of its stock – in great depth!  Worksheets are provided.

Next, something really cool:  “Momentum Investing.”  I must admit that I had never even heard of that before.  The idea is that you catch stocks that are about they take off and rise in value so quickly that most other people don’t catch on till they have to buy them at a premium.  Many detailed charts and instructions help you to figure out which stocks are good candidates, and how to catch them just before they hit it big.

Of course, what goes up often comes down, either temporarily or, sometimes, permanently.  So this chapter also provides detailed strategies on how you can protect yourself from losing what you’ve just earned.

If the book ended here, it would have already surpassed my expectations, as well as most of what you can find elsewhere, and probably most of those $5000 seminars as well.

But it doesn’t end here.  It goes on to cover stock options, the real secret to making lots of money in the stock market, and quickly.  Of course, you can also lose your shirt, but after learning and carefully applying all the strategies in this offer, that chance is much reduced.

The beauty of stock options, according to Adam and Conrad, is that you can make money with them in any kind of economic climate, that results can come quickly, and that you can leverage whatever funds you have by controlling a much larger amount of money.  That is also the key to the risk, which is why options are something to be approached with caution – and knowledge of how they work.

There are a few warnings in this chapter.  Don’t try this at home... (unless you know what you’re doing).  Yet there are also techniques that are much less risky – and the authors point them out and proceed to explain them so thoroughly, I wanted to stop reading the rest of the book and just have a go at them.

In fact, options are really the heart of this book.  They are the key to making significant financial gains in a short amount of time, and so they get a lot of extra coverage.  How they work, how to understand the information you need to gather to make informed decisions about them, and how to best go about making money with them.

There’s even a super safe way to make money with options. Yes, you can still lose money but the amount is very limited – and you stand to gain a great deal if your bet pays off.   Plus, of course, with the information you have gathered using the other techniques, your bet will always be informed.

Another whole chapter is devoted to the fine art of short selling, a technique that can pay off big during bear markets.  You’ve probably read about them in the paper.  Well, here’s how to do it, and, of course, with lots and lots of detailed info along with work sheets for help with assessing funds and their performance so your chances at success are maximized.

The last chapter guides you towards putting all this information into action.  Once again, it comes with work sheets you can use to assess your risk and the probable movement of the stocks.  And advice on how to keep track of your gains and losses so you can tweak your system and make it turn mostly profits.

All in all – it’s an outstanding guide to how to make money in the stock market – with charts and plenty of work sheets where you can track and evaluate the stocks you’re interested in.

It’s a how-to book that really lives up to its name.  Just one small disappointment – there were a few places where the authors mention some even more advanced strategies, which are only available to members of their proprietary Wealth Academy program.  So there’s still a bit of the old tease.

But on the other hand, the book provides a wealth of actionable information, which is plenty to keep its readers busy for a long time, and, if they apply it diligently, it should quickly pay for Adam’s Wealth Academy program, where they learn to accelerate their income even more.

And come to think of it, there’s always more to learn, and considering the value that this book provides, the fact that Adam and Conrad offer a way to learn even more is actually great news.

<<Click Here>>