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Success Advice

Asia’s Richest Man “Li Ka-Shing” Shares Advice For Young Entrepreneurs

Joel Brown (Founder of Addicted2Success.com)

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Li Ka-Shing Billionaire Richest Advice For Success

Asia’s richest man Li Ka-Shing with a net worth of $31.9 Billion teaches you how to buy a car and house within five years.

“Suppose your monthly income is only 2,000 RMB, you can live well. I can help you put money into five sets of funds. The first $600, second $400, third $300, fourth $200, fifth $500.”

 

First set of funds:

The first set of funds is used for living expenses. It’s a simple way of living and you can only
be assigned to less than twenty dollars a day.

  • A daily breakfast of vermicelli, an egg and a cup of milk.
  • For lunch just have a simple set lunch, a snack and a fruit.
  • For dinner go to your kitchen and cook your own meals that consist of two vegetables dishes and a glass of milk before bedtime.

For one month the food cost is probably $500-$600. When you are young, the body will not have too many problems for a few years with this way of living.

 

Second set of funds:

To make friends, expand your interpersonal circle. This will make you well off. Your phone bills can be budgeted at 100 RMB. You can buy your friends 2 lunches a month, each at $150.

Who should you buy lunch for? Always remember to buy lunch for people who are more knowledgeable than you, richer than you or people who has helped you in your career. Make sure you do that every month. After one year, your circle of friends should have generated tremendous value for you. Your reputation, influence, added value will be clearly recognized. You’ll also enhance your image of being good and generous.

 

Third set of funds:

To learn. Monthly spend about 50-100 RMB to buy books. Because you don’t have a lot of money, you should pay attention to learning. When you buy the books, read them carefully and learn the lessons and strategies that is being taught in the book.

Each book, after reading them, put them into your own language to tell the stories. Sharing with others can improve your credibility and enhance the affinity. Also save up $ 200 per month to attend a training course. When you have higher income or additional savings, try to participate in more advanced training. When you participate in good training, not only do you learn good knowledge, you also get to meet like-minded friends who are not easy to come by.

 

Fourth set of funds:

Use it for holidays overseas. Reward yourself by traveling at least once a year. Continue to grow from the experience of life. Stay in youth hostels to save cost. In a few years you would have travelled to many countries and have different experiences. Use that experience to recharge yourself so that you’ll continually have passion in your work.

 

Fifth set of fund:

Invest. Save the $500 in your bank and grow it as your initial startup capital. The capital can then be used to do a small business. Small business is safe. Go to wholesalers and look for products to sell. Even if you lose money, you will not lose too much money. However, when you start earning money, it will boost your confidence and courage and have a whole new learning experience on running a small business.

Earn more and you can then begin to buy long-term investment plans and get long-term security on your
financial wealth being of yourself and your families. So that no matter what happens, there will be adequate funds and the quality of life will not decline.

Well, after struggling for a year and if your second year salary is still 2,000 RMB then that means you have not grown as a person. You should be really ashamed of yourself. Do yourself a favor and go to the supermarket and buy the hardest tofu. Take it and smash it on your head because you deserve that.

If your monthly income is at 3,000 RMB, you must still work very hard. You must try to find a part time job. It will be great to find part time sales jobs. Doing sales is challenging but it is the fastest way for you to acquire the art of selling and this is a very deep skill that you will be able to carry it for the rest of your career.

All successful entrepreneurs are good sales people. They have the ability to sell their dream and visions. You’ll also meet many people that will be of value to you in the later part of your career. Once you’re in sales, you will also learn what sells and what not.

Use the sensitivity of detecting market sentiments as a platform for running your business and in the identification of product winners in the future.

Try to buy minimal clothes and shoes. You can buy them all you want when you’re rich. Save your money and buy some gifts for your loved ones and tell them your plans and your financial goals. Tell them why you are so thrifty. Tell them your efforts, direction and your dreams.

Businessmen everywhere need help. Offer yourself to do part time for any kind of opportunities. This will help to hone your will and improve your skills. You will start to develop eloquence and soon, you’ll be closer to your financial goals.

By the second year, your income should be increased to at least 5,000 RMB. Minimum it should be 3,000 RMB. Otherwise you would not be able to keep up with inflation.

Li Ka-Shing Picture Quote

 

Conclusion

No matter how much you earn, always remember to divide it into five parts proportionately. Always make yourself useful. Increase your investment in networking. When you increase your social investment, expand your network of contacts, your income also grows proportionately. Increase your investment in learning, strengthen your self-confidence, increase investment in holidays, expand your horizons and increase investment in the future and that will ultimately increase your income.

Maintain this balance and gradually you will begin to have a lot of surplus. This is a virtuous circle of life plans. Your body will start to get better and better as you get more nutrition and care.

Friends will be aplenty and you will start to make more valuable connections at the same time. You will then have the conditions to participate in very high-end training and eventually you’ll be exposed to bigger projects, bigger opportunities. Soon, you will be able to gradually realize your various dreams, the need to buy your own house, car, and to prepare an adequate education fund for your child’s future.

Life can be designed. Career can be planned. Happiness can be prepared. You should start planning now. When you are poor, spend less time at home and more time outside. When you are rich, stay at home more and less outside. This is the art of living. When you are poor, spend money on others. When you’re rich, spend money on yourself. Many people are doing the opposite.

When you are poor, be good to others. Don’t be calculative. When you are rich, you must learn to let others be good to you. You have to learn to be good to yourself better. When you are poor, you have to throw yourself out in the open and let people make good use of you. When you are rich, you have to conserve yourself well and don’t let people easily make use of you. These are the intricate ways of life that many people don’t understand.

When you are poor, spend money so that people can see it. When you are rich, do not show off. Just silently spend the money on yourself. When you are poor, you must be generous. When you are rich, you must not be seen as a spendthrift. Your life would have come full circle and reach it’s basics. There is tranquility at this stage.

There is nothing wrong with being young. You do not need to be afraid of being poor. You need to know how to invest in yourself and increase your wisdom and stature. You need to know what is important in life and what is worth investing in. You also need to know what you should avoid and not spend your money on. This is the essence of discipline. Try to avoid spending money on clothing but buy a selective number of items that has class. Try to eat less outside. If you were to eat outside, do make sure you buy lunches or dinners and foot the bill. When buying people dinner, make sure you buy dinners for people who have
bigger dreams than you and works harder than you.

Once your livelihood is no longer an issue, use the remainder of your money to pursue your dreams. Spread your wings and dare to dream! Make sure you live an extraordinary life!
English Translation by: Edmund Ng (CeoConnectz) Thanks Ed!

There are many people who are struggling to make ends meet. It doesn’t matter if they are rich or they are poor. There are lessons for all to learn from Li Ka Shing.

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances.I'm proud to say through my podcast and through this website we have impacted over 100 million lives in the last 6 and a half years.

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29 Comments

29 Comments

  1. Ringo

    Jan 7, 2016 at 6:33 pm

    The lesson is not only for entrepreneurs. It is also for those who want to have a meaningful life. It seems to be common sense but it will take tons of time to adapt.

  2. Dan Neamtu

    Jan 5, 2016 at 1:32 pm

    Hey Joel,
    This is a great article about smart spending money. Li Ka Shing denies that this article was written by him, but even that is still a great informative resources. Thanky for sharing.

  3. prince emeka ineh

    Jan 3, 2016 at 10:57 pm

    really love all he said, and what really touched me the most “When you are poor, you have to throw yourself out in the open and let people make good use of you.”…… this so true

  4. Fdee

    Jan 3, 2016 at 7:30 am

    This was so helpful. Thank you, sir. I have learned a valuable lesson. Now I know what I need to do to make it.

  5. Arex Akemotubo

    Dec 26, 2015 at 5:59 pm

    Honestly, as a young enterprenur these tips will greatly increase my knowledge. Thanks sir for the privilege and opportunity to share from your tank of wisdom.

  6. Kiran

    Nov 17, 2015 at 9:34 pm

    This article makes so much sense and gives practical advice on what to apply to make your life worth living. It has the principles of success that show you how to progressively grow and achieve your goals and dreams in a systematic manner.

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Success Advice

How YOU Can Create a Powerful 10 Year Life Vision

Ashley Hann

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Where do you desire to be 10 years from now? Joel Brown, founder of the well-known website and podcast Addicted2Success, breaks down exactly how to gain clarity in your life and create a powerful 10-year life vision. The vision process that Joel teaches has transformed the lives of hundreds and thousands of people who use it.

You can listen to the full podcast interview here with Joel Brown or head over to my website AshleyHann.com for more inspirational podcast episodes.

Joel Brown is the real deal. He travels the world coaching thousands and thousands of people to stand in their vision so they can turn their dreams into a reality. He has been featured in the Think and Grow Rich movie, Entrepreneur, Forbes, Inc., The Huffington Post, Success Magazine and more. He has sat down with well-known thought leaders such as Tony Robbins, Deepak Chopra, Jay Shetty, Gary Vaynerchuk, Grant Cardone, John Assaraf and the list goes on.

This is a MUST LISTEN episode all about gaining clarity, creating harmony in your life and creating a powerful 10-year vision so that you can live the life you’ve always wanted.

Joel Brown (Founder of Addicted2Success.com)

Joel breaks it down for you step by step. In this episode, we go over:

  • The 3 key questions you must ask yourself in order to live a fulfilled life and master your 10-year vision
  • How to define success for yourself and discover what you really want
  • The 8 areas of life to include in your 10-year vision
  • The top, prevalent patterns successful people share and why you should adopt them too
  • The 3 main limiting beliefs and bullsh*t stories that hold people back from achieving their dreams and goals
  • Why dropping perfectionism is so important and what to do instead
  • …and so much more!

If you’re more of a visual person then you can watch my video interview with Joel Brown here:

This is an episode you won’t want to miss. Joel Brown is the 10-year vision expert and teaches his vision process all over the globe to thousands and thousands of people. You’ll want to make sure to grab a pen and paper so you can take notes and action on the strategies he shares with you.

You can connect with Joel Brown @iamjoelbrown on Instagram and Twitter.  Make sure you also check out his popular motivation account @addicted2success on Instagram, Twitter, Facebook and YouTube.

You can listen to the full episode on SoundCloud,Apple Podcasts or Spotify.

OR you can watch it on my YouTube Channel:

RESOURCES:

His event: www.elevatetribe.net

The #1 motivation website he built from scratch: www.addicted2success.com

His Circle of Influence online mastermind: www.iamjoelbrown.com/applynow

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Success Advice

5 Ways You Can Utilize Information Properly and Think More Efficiently

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how to think more efficiently
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The mind is a complex system of facets, of which some have yet to be discovered. Still, in spite of all this, there has been enough information to help us gain a rudimentary understanding of it. Thinking is what we all do, although what differs is the efficiency and levels at which we do it.

A lot of things influence the way you think, and most of these factors vary from person to person. However, there are some foundations and basic laws that can help you move from just filtering information and utilizing it to think efficiently.

Below are a few ways you can utilize information properly and think more efficiently:

1. Be quiet and listen

We’re constantly bombarded with information, and the nature of this information determines how we respond. Are you the type of person who doesn’t handle bad or even good news well? If so, learn to take a step back, evaluate things, and look for the way forward. It’s something that stock market traders do all the time, and it works like a charm with practice.

2. Never neglect what your emotions tell you

While a lot of people might not know this, it is true that the conscious thoughts we have only represent a small fraction of the events going on in our heads. At any given point in time, you have the unconscious aspect taking in massive amounts of information, most of which we don’t even know are being processed.

Your brain makes conclusions, good or bad, and starts to generate feelings that rule our emotions in the long-run. So, whenever you have a subtle feeling that points you to a certain course of action or thought, don’t ignore it. At the end of the day, that feeling gets its way somehow, and it’s better you come face-to-face with it and understand its nudges better.

“When you react, you let others control you. When you respond, you are in control.” – Bohdi Sanders

3. Never think while under pressure

Pressure can be good, but a lot of the time, it tends to yield counter-productive results. Regardless of what you’re doing, there are times when you feel pressure. What this pressure does is force you to rely less on the part of your unconsciousness that functions like a trained autopilot system (from all of the training and experiences that you’ve had in the past). Essentially, it forces you to overthink things.

You begin to analyze every aspect of what you’re doing, and you end up using parts of your brain that have no business with the specific activity. So, whenever you take the time out to develop a certain skill, make sure you learn to have faith in your instincts as well.

4. Never focus on one viewpoint

Bluffing is something that professional poker players do almost every time. It’s become an art. However, instead of just bluffing on a whim (which also works at times, by the way), most of them employ a simple trick while playing; they think about how the opposing players would act if they weren’t actually bluffing.

In most cases, the brain tends to search the world for filters in order to confirm the beliefs that it holds. However, the problem with this is that it tends to limit you. At the end of the day, you could be dealing with facts that are just not wrong.

“What’s true of the poker game is true of life. Most people are suckers and don’t realise it.” – Michael Faust

5. What do you love doing?

According to studies, a lot of people tend to have moments of insight and solutions to problems when they’re not even aware of the fact that the problem is being analyzed by the brain. These are usually moments when you take a stroll, listen to your favorite track, brew your favorite coffee, take showers, and read blogs; when you feel relaxed and comfortable.

This is because insightful thoughts are usually generated by an influx of neural activities that occur in the right hemisphere of the brain. The best time to plug into the mind is when you’re stress-free, so make sure that you engage in activities that relax you more often.

How do you go about maneuvering around and making decisions in a world constantly bombarding you with information? Let us know your thoughts and advice below!

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Success Advice

10 Simple Yet Effective Ways to Bring Out the Successful YouTuber in You

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how to create a successful youtube channel
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YouTube is a social media platform that has turned many a normal person into a celebrity. With over 1.9 billion logged-in users visiting YouTube every month, it is a hugely popular platform that is being actively used by people who are leveraging its reach and popularity for reputation building, increasing visibility, creating and driving brand reach and last but not the least, earning money.

We keep hearing success stories of YouTube influencers who were nobodies when they started out and today run some of the most popular channels on YouTube and are considered reputed influencers in their niche.

There is absolutely no doubt that if done right, a presence on YouTube can be a massive boost for your brand (if you are a business) and ensure visibility of stratospheric proportions (if you are an individual).

But, at the end of it all, most people want to get onboard YouTube for the money. If your channel is popular enough, it can be a regular source of income for you. So, how do you become a successful YouTuber and establish a popular YouTube channel?

Here are ten great tips to help you on your way:

1. Identify your YouTube Goals

What do you want to achieve out of YouTube? Straight off the block, this is the question you must answer. YouTube can help build your brand, both business and personal, if that’s your goal. It will help improve your reputation and differentiate yourself from the competition. It could also become a revenue generation medium for you.

There are many reasons you might want to start a YouTube channel, and you need to zero in on the right one. Identifying your core goal or set of goals will help you plan your YouTube journey effectively.

2. Identify the Right Niche for Your Channel

Making videos is a resource-intensive activity. It also needs a rare degree of passion to make videos because you are going to put a truckload of effort into it. So, make sure to zero in on the right niche for your channel, meaning the kind of video content you are going to post. If you are an individual, the content must align with your interest, preferences, skill sets and knowledge.

If you are a business, it must align with your business’s services or domain. Think very carefully whether you will be able to keep making videos about a specific topic, subject or domain regularly. This will help you choose the right ‘content type’ for your channel.

3. Trust Yourself

There are some YouTubers who give up because they think they are not cut out to be successful YouTubers. There is absolutely no doubt, you will be wracked by self-doubt when you start, especially if your videos aren’t finding enough traction. The key here is to have confidence in your ability and pursuing your end goal indefatigably.

Don’t give up because of setbacks; some of the top YouTubers started off slowly and built their audience steadily. When it comes to YouTube, it is important to understand that success won’t come easily or quickly.

4. Be Prepared for Criticism

As a YouTuber, you have the ability to showcase your knowledge and skillsets to the world, but this also sets you up for criticism. There are people who are going to like your videos and there are those who won’t and will go a step further and criticize it through the comments section.

And very often, this criticism isn’t constructive and its only aim is to make fun of you and your video. Can you handle this criticism? You must if you want to be a successful YouTuber. Try developing a thick skin and don’t allow even the most virulent criticism to affect you.

5. Respond to Comments

Make it a habit to respond to comments, irrespective of whether these appreciate or criticize your video. Your response tells your viewer that you care and are prepared to listen to their views. This helps you build a relationship with your viewers who can then turn into channel subscribers. Don’t think YouTube videos are one-way traffic wherein you make a video, a viewer sees it and forgets about it. A video is a means of driving interaction and engagement.

6. Follow other YouTubers

You might have some great content ideas for your channel, but you must also keep track of what other YouTubers are doing. There is always a chance that you will get some inspiration from their videos as to how to make a video more interesting, get the lowdown on audience engagement tactics and find technical aspects as well including camera work, audio etc.

7. Attend Meetups

There are plenty of YouTube meetups, conventions and conferences happening all over the world; it is imperative that you attend YouTube events happening in your region. This way you will be able to meet fellow YouTubers in the region, and who knows, you might also meet YouTubers, you follow and want to emulate. If you get the opportunity to discuss notes or get tips, do so. This will help refine your channel content

8. Keep Measuring Your Performance

Start measuring your YouTube performance from the word go. You need to keep track of various performance metrics to know how well you have done. A metric like ‘views’ is super important but so is ‘watch time’. ouTube judges the performance of your channel on various metrics and uses these to rank your videos in search results. There are plenty of tools that can help you track and measure YouTube performance based on various parameters.

9. Don’t Judge Yourself Too Harshly

Don’t set impossible standards for yourself. You are going to make mistakes and learn from them. No video is perfect and don’t think you can start making amazingly successful videos from day one. So, judge yourself, but don’t go overboard. Don’t compare your work with people who have many years of YouTube experience behind them; this would be counterproductive and play havoc with your confidence levels.

10. Keep at It

If you want to bring out the successful YouTuber in you, you must keep at it. Plan a video publishing schedule and stick to it, irrespective of whether your videos are doing well or not. Remember, once you set cadence, you will get better at your videos, and this will drive more engagement.

A successful YouTuber is no different from a successful person. You need to work hard, learn from mistakes, and more importantly learn from others. And you must make use of all this learning to create better and more more engaging videos.

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Success Advice

Why You Should Prefer Emails to Phone Calls if You Want to Be More Productive

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productivity tips
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“Email” and “productivity” rarely go together in a sentence. Emails have been declared as one of our largest time wasters. A McKinsey report stated that people spend around 2.6 hours each day responding to emails. That’s 13 hours a week, 52 hours a month and over 60 days a year! Imagine what you could’ve achieved in 60 days!

Emails also negatively affect our cognitive resources. When we think of responding to them while doing other important tasks, it takes up to 23 minutes and 15 seconds after being disrupted to return to full attention to a current task. Imagine how much our cognition and productivity gets fractured when we get distracted over and over again.

Constant emailing also drains us mentally. And at the end of a day, we realize that we’ve achieved nothing worth mentioning. With a phone call, you can sort issues and solve problems quickly, right? In theory, you’re right. But we live in a practical world where many variables come into play.

Below are three variables that make phone calls adversely affect our productivity, and why emails are a better alternative:

1. Wasting Time

Most “five-minute conversations” can quickly turn into 35-minute calls because people ramble about irrelevant aspects. This derailment, several times a day, severely limits the limited time and energy you have for important tasks.

Emails, on the other hand, force writers to streamline their thoughts and stick to the point. Emails can save you plenty of time and energy because you avoid lengthy phone calls. The constant strife to keep your own emails short and crisp also makes you a clearer thinker, which rewards you in other aspects of your life.

“It’s better to waste money, than it is to waste time. You can always get more money.” – Hal Sparks

2. Inaccurate Responses

An unexpected phone call can catch me caught off guard on a topic. I might respond emotionally or give an answer that doesn’t do justice to what I want to share. In a world dominated by panic buttons and fire-fighting, these don’t just stress me out but the caller as well.

Emails give me flexibility to prepare a coherent response and share it when I’m satisfied. If I feel a surge of emotion, I can sleep over the thought and share a better (more rational) response the next day. Many page-long email responses to emails that upset me have turned into a simple “thank you for your email” the next day.

3. Constant Back-and-Forth

Phone calls often are ineffective to solve business problems. Accounting for multiple people, their views, their timelines… One phone call can quickly turn into three.

Emails are quicker and more effective than even conference calls. They let you communicate with multiple people at the same time. You can share information, assign tasks and give status updates while being as specific as possible.

You must be wondering, “What about back-and-forth emails then? Why do we waste precious time on them?” Yes, email has earned a bad rap. But it’s not because of the medium; it’s because we handle it ineffectively.

A Better Approach to Emailing

For most people, constantly refreshing the inbox is part of the daily to-do list. It keeps them busy and gives them a kick of dopamine – the feel-good chemical.

Ironically, this quest to remain busy makes people compromise on taking action that can move them forward. Using emails prudently, rewards you with plenty of energy and mind space to focus on tasks that truly matter.

Here are three steps that benefited me without succumbing to the side effects of email:

1. Checking Them Less

I check emails just 3 times a day – at 9:30 AM, 12:00 PM, and 4:30 PM. If you don’t have the luxury to do the same, you can start by checking your emails for ten minutes at the end of each hour. Most senders expect a response in a little over an hour. So they won’t mind a slightly delayed response. This gives you 45 undisturbed minutes each hour to work on your core tasks.

2. Responding Quickly

People delay responding to emails at least 37% of the time, which turns finding emails and responding to them into additional tasks that cost time and lead to attention residue. Most emails take under two minutes to respond. When you can respond to an email, do so instead of putting it off. This won’t just put your mind at peace, it’ll also reduce the number of “did-you-see-this” follow-up emails in your inbox.

“I do love email. Wherever possible I try to communicate asynchronously. I’m really good at email.” – Elon Musk

3. The If-Then Technique

The If-Then technique helps you address multiple scenarios at once. For instance, an email that says, “Can we meet at 3:00 PM?” becomes, “Can we meet at 3:00 PM? If not, please advise three other times that work for you.”

This technique is also effective when you want to suggest ideas or provide instructions on alternative steps. For example, “Here’s Plan A. If it doesn’t work, connect with [name] and ask for [specific information]. If you don’t get what you need, inform me.”

I’ll admit. This sounds like more work in the current moment, but it drastically cuts down the number of trail mails, confused correspondences, and fire-fighting instances that occur due to miscommunication.

The If-Then formula is the single most effective technique I’ve learned from The 4-Hour Workweek. All of this doesn’t mean that you abandon phone calls, In fact, it’s better to use the phone for sensitive topics or if an email conversation gets dragged. But remain mindful to not let phone calls waste your time.

If you want to pursue a meaningful life, place a premium on your time. Do things that create time for you to pursue meaningful actions and avoid doing what pulls you away from them. In the knowledge economy, this is the key to success.

Do you prefer email or talking on the phone? Share your thoughts below!

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