The Psychology of Winners

rsAt a recent seminar for investors that I assisted as a coach, the presenter Adam Khoo disclosed secret about winners that I or you wouldn't have otherwise known. These were his exact words "Success is 70% Psychology and 30% Knowledge,Skills,Tools etc"
Adam Khoo is a self-made millionaire by the age of 26,CEO of Adam Khoo Technologies and other businesses with a combined turnover of 20m, and a best selling author.
He and Conrad Alvin Lim, my trading guru are the authors of "Secrets of Millionaire Investors", a Singapore best seller. Conrad's story is an amazing story of a man who not only pulled his life from bankruptcy on track within record time but also took on the mantle to create great traders like him out of novices.I consider it an honour and privilege to be associated with these two great men and getting the opportunity to learn from them.

"Success is 70% Psychology and 30% Knowledge,Skills,Tools etc"

What this means is even with the whole knowlege in the world, intelligence, talent, tools you still cannot achieve success unless you have the right psychology. That explains why there is only one Bill Gates or a Warren Buffett in billions. Does that mean you or I can't be that ? Yes we can if only we have the discipline and psychology that Bill Gates and Buffett have. The difference between them and us is that they play to win. Well of course everyone plays to win,no one plays to lose. Yet 99% of the time we enter into a new venture not wanting to lose.
Lets see what we do when we encounter a failure.We find all kind of excuses to reason for failure .e.g., I tried, it doesnt work . I can't do it. Its not meant for me. When winners encounter a failure they don't go down giving excuses but say thank you and learn from their failures. When encountered with a failure, they change their strategy like we saw in the last post.Prepare a plan, put it into action. Achieve results, good or bad, learn from them. Continue to do this till they get what they want. After failing 99 times in attempting to invent the electric bulb,Thomas Edison said I now know 99 ways how not to create a light bulb. Like they say, the darkest hour is just before dawn. Yet when everything looks bleak we give up. Winners don't give up, they go back to their desk and come back with a new plan.That exactly is the difference between winning and losing. Many a time my own light dies out and I want to give up. But I dont wanna die(lose), I wanna win. Thats why I am sharing my ideas and plans with you all. In the darkest hour when I want to give up, maybe one of you will light me up and push me forward to go for it.Yes, it is your own discipline and commitment to achieving your goal is what will lead you to your goal.So do not fear failure, embrace failure like a hero and come back with a fresh start.

The question is how you ensure that you remain committed to your goal. Like we said earlier, declare it to the world and put yourself on the line. Make your goal a MUST for yourself. I have personally felt my strength, abilities and achievements enhanced when faced with adversity or challenges or compulsive situations. The reason why most winners achieve what they want is because they are Driven by Strong Purpose. So create the purpose, why you want what you really want. When you think abt the purpose, this purpose will inspire you to achieve your goal.Your purpose could be anything , to give your family a better future, buy an expensive house or car for yourself, go on a world tour, do something for the community like a school, hospital etc.

The more you delve on your purpose the more you will be driven to achieve your goal.

Check out the below link for some interesting videos for insight into Psychology of Winners from Robert Kiyosaki, the author Rich Dad, Poor Dad.

http://www.richdad.com/RichDad/RichContent.aspx?cpid=65

Njoy !

Where do we start?

Hey again ... I know most of us think how do we achieve what we want ?
Well the first thing to do is get the idea clear in your head as to what you want from your life ...
Once you are clear abt it write it down .... and visit it , revisit it day after day and think how are you gonna achieve it .... Do one thing ... Declare it like I have done .. .Declare it to the world that come what may, you will do whatever it takes to reach it ... And see how magically it works .. By doing this u will put urself on the line and push urself to achieve it ... every time a friend , a sibling asks you abt it, you will only be driven to achieve it....
If your goal is a significantly big one , split it into smaller quantum goals and think of ways to achieve your first quantum goal ... akin to crossing a big puddle wherin you put one stone at a time and step on it and then put the other and so on till you reach your destination .. so much so to say ... easier said than done ! huh
Alrite .... lets take my example I wanna be a billionaire ... poof ... there comes a genie, so shall be it master, and I am a billionaire .... if only I were Aladdin with a magic lamp. Day dreaming ... huh ... Nay before I become a billionaire .... I need to become a millionaire ...
Well that sounds a lot more easier ... Yes n No .... Yes for obvious reasons .... Yet the gurus say its difficult to make your first million, once you have learnt to make ur first million, the rest just follow ... well rite ... by the time you have made your first million, you would have learnt what works and what not. It is this learning thats gonna make you the remaining 999 million.
So well how am I gonna make my first million ? Well the easiest way to make a million is start with two million .... hehehe very true isnt it ? Alas, my dad isnt a big man to give me two million nor do I have any rich relative whos gonna give it to me ... So I need to earn my first million .... How do I earn my first million ? Work ? Hmm that I already do ... and the money that comes in goes out of the window in paying my rent, electricity, phone, credit card bills ... and i m broke at the end of the month .... Sounds familiar? Work harder no good .... doing part time jobs wont help ... At the end of it will be slogging for a paltry sum ...
So what I need to do is generate new streams of income which take little or no time of mine and yet give me a neat income ... to say the least a liitle more money in my pocket .. the gurus call this passive income ... Yeah the money that works for you, and not the other way round.
So how do i make money work for me ? Look around you and you will see hundreds of opportunities that can spin money for you .... stocks, real estate, internet marketing etc. choose the one that holds ur imagination, spin a business around it ... of course there are lot of sites around which can brief you up on what you r looking for .. Check out richdad.com for some interesting basics. Another good site I found is entrepeneur.com ifyou wanna know about how to become an entrepreneur. Go ahead educate urself , develop ur strategies, take ur actions,
if not successful, learn from results, change ur strategy and repeat .... till u achieve what u want.

GOAL
!
STRATEGY -> ACTION -> RESULT
^ _____________________/

Back to Basics

A Big Hello to all you Guys n Gals out there ... To all of you who dream .... and dream to make it big ! Well ... to dream is fine .... to put yourself on the line and to push yourself to the limits to achieve it is what makes all the difference! So here I am ... to put myself on the line and push myself to achieve my dream to become a billionaire and roam around the world.
Yes I have dreamt abt it ever since I was a teenager ... like every teenager does .... only that now its a more mature objective rather than just a dream .... with a plan to achieve it.
As I set out on my journey that promises to be thrilling and an equally strenuous one, invite you folks to join me on this interesting voyage. So watch out this space for the adrenalin rush .....
Faster your seat belts .... as we go vrrrrrrrrrooooooommmmm !!!!