Asking The Right Questions

We make decision everyday in our lives. Some are trivial stuff like what to eat for breakfast in the morning; which gym membership to join; which movie to watch etc. While there are some major decisions we also have to make at some point in our lives such as where to buy a house; when to get serious in relationship; right time to have kids; career change; which country to migrate to etc.

Every decision we make has impact on our lives. If we make decision emotionally without making sure that it aligns with our core values; we may find ourselves regret eventually. For example, if your belief is that everyone must have equal opportunity but you live in a country where people are treated differently based on the colours of their skin; and you are in no position to change the situation because you are not in politics; so you said to yourself what if you migrate to another country. The idea sounds great to you initially when you imagine the new life that you are going to have; the greener pasture overseas; the better schools and infrastructure; better pay and so on. You started to feel excited. 

But migrate to a foreign land is a big decision after all. And all sorts of emotion crops up in you. You are fearful of leaving behind the life you are used to; you are sad to leave behind your friends and relative; you are unsure whether you can get a job in your new adopted country. In the end, we may decided to stay put at where you are. This is a decision made emotionally which contradicts to your core value. You continue to build up resentment by living in an unfair society that you feel uncomfortable with and life goes on.  

It's true that migrating to a whole new world is a huge risk. But it is also a risk that brings new opportunity at the same time. Chinese words always manifest great wisdom considering that they are the only civilization that still survive today for 5,000 years! The word 危機 (wei ji) means crisis. But it does not mean doom and gloom solely. The first word 危 means danger while the second word 機; guess what it means........it means opportunity. In every danger situation there is always an opportunity.

Take the stock market for example. Many people buy stock when they see that it is rising in value. But it is exactly this mistake that causes so many people lose money. Because whatever goes up has to come down. The best time to buy stock is when the stock prices of good companies reach rock bottom because it is like they are on sale! But people don't buy it. Why? Because they fear that the prices may get even lower.

So you see how we constantly make decisions emotionally instead of thinking it through by analyzing the situation rationally.

To ensure that we don't continue to make choices in our lives emotionally which will cause us suffering down the track; we have to start asking the right questions.

Take the common decisions most people have to make; changing a job. Most people will ask the following question:

• What if people are not as nice to me in the new company compare to the current one?
• What if I cannot handle the new responsibilities?
• What if the new company is not stable?

Do you see what the above three questions do to your mind? They have one thing in common; they are all assumptions which does not based on any facts whatsoever. In fact they are merely assumptions that people come up with when they are lack of confidence and fearful.

One thing is for sure, the fact that people consider to change job is because they are not happy nor satisfy with their current work place; it is a fact; not an assumptions. So the right questions to ask will be:

• Will I acquire new skills at the new place?
• Is there opportunity to step into bigger role?
• Will my salary increase?
• Will I feel more fulfilled career wise?
• Will it help in my career path down the track? 

These are far more constructive questions that will get your mind working to come up with a better decision for you. We all want to feel like we are growing. The worst situation anyone can be is to stay still in the same place for long period of time. 

Emotions cloud our mind. We must maintain a clear thinking process when comes to making big decisions in our lives. We have to ask ourselves correct questions that can help us get there. Constantly searching for solutions to our problems and start taking control over our lives. May GOD bless you.

Avoiding Financial Risk

Performance reviews are usually being carried out at a specific date annually. It is a platform for employer to access the performance of employees throughout the year. But often people overlook the fact that it is also a chance for the employee to reflect upon whether their expectations are being met by continue working in this company.

My performance review last year was held in April but I didn't get my review in April this year. I was at first verbally informed that it will be held sometime in May. May came and went then June has passed, still no news on the upcoming review. It was then confirmed on the 11th July but only has it cancelled and changed to 13th July. So before even enter into the review, the management has given me a poor impression of their seriousness in looking after their staff. Only a week ago the managing director gave a motivated presentation in front of all the staff of the company reiterating that he wants to ensure that everyone grows together with the company. I still believe his commitment.

I've numerous occasions where people have been trying to ask me to work for them. There was even an offer to increase my salary by 20%! I turned all of them down believing that my loyalty to the current company will pay off. I thought I have made the right decision.

Then came the moment of the review which I have been waiting for more than 2 months. A few of my colleagues who joined the company later than me have all been promoted recently. Some has only just worked for a few months! So I was naturally excited walking into the room knowing that finally my hard work and dedication will be recognized! I was instead taken aback by what I was about to hear. I was told that I haven't been given the right opportunity and platform to shine and will need another 6 months to prove that I'm worth the increment. I felt like I have just been hit by a bus.

I ponder about this incident the whole night and I even asked GOD for guidance. I prayed: "GOD, you know best and there surely is a reason that you put me in this situation. No matter what it is, I believe that you know this will be good for me." 

I went to bed and woke up earlier than usual on a beautiful sunny Saturday morning. Made myself a cup of my favourite Old Town coffee and started writing this blog. My mind is clear as I taste the warmth and sweetness of the Malaysian coffee. I must start doing something about my life.

Most of us have a full time job and it is a blessing considering millions of people are unemployed. And we put aside around 30% of our time per week into our work. If you include another 2 hours per day of mental stress you have when you are not at work but thinking about work related matters, then the percentage would have increase to 35%. That is a huge chunk of valuable time that we are not going to get back. Most of us will also give 100% of our attention to our work. And this is where the risk comes in. 

If there is a lesson to be learnt from my recent review, it is that we are not in control of our financial future if we continue to work for people. I'm lucky that I was only told there will be no increment for the next six months. Others are not so lucky. Some people may be told to pack up and leave just like that when the company 'feels' that you are no longer needed. When you give 100% of your attention and 35% of your time to somebody else's business, you run into a major financial risk.     

We must diversify our income. The reason I'm writing this blog is one way of achieving that. I'm hopeful that my blog will one day become so popular that I can start earning income from it. There are people driving UBER part time and I've heard that some can earn close to $2,000 per week! Tony Robbins tells us that we must start investing portion of our income on a regular basis. 

It is an uphill task to achieve financial freedom, the key is to take the first step. We will never get there if we don't start. If you have a full time job like myself, one way is to take say 2 hours every night to build your business. It could be your blog, podcast, online marketing, run a Airbnb or whatever. We have to slowly reduce our reliance to our full time job so that we can engage ourselves more aggressively in the thing we love to do.

I know I'm going to start today. Hope you will start yours too. Good luck!

Lessons From Malaysian General Election 14

The recent extraordinary result of the Malaysian General Election is a perfect benchmark which shows that through belief and perseverance even the greatest of obstacles could be overcome. Previous government imposed all sorts of rules and regulations that favour them while putting the opposition in a highly disadvantage position. Boundaries of constituencies were redrawn in a ridiculously lopsided proportion, opposition party led by Tun Dr. Mahathir was even banned from contesting, portrait of him cut out from campaign banners, Anti Fake News law was rushed to be passed in parliament, postal votes were delivered at the eleventh hour to Malaysian living overseas, ministers telling people not to come back if they can't obtain leaves, system at Johor causeway immigration were all down, flight cancelled without any valid reasons, election results were deliberately delayed from being announced officially and much more. 

It is precisely all these desperate moves by the previous government that have made the Malaysian public angry and wanted to go all out to vote even more. In the end, people's power triumph and Malaysian made a choice with their vote. It is a historical event not just for Malaysia but the world. It is a true success story which tells us that if you truly belief in something and work hard on it with patience, it will happen one day.

We learn the following from this election:

• In a democratic society, we the common people are truly the boss of the country. The government is merely appoint by us to serve us.
• We will eventually triumph over evil even though during the process it may seems like an impossible tasks.
• If the goal is clear and everyone put their mind together to achieve that same goal, nothing is impossible.
• There is no so called ideal age for retirement. If you are truly passionate about certain cause, you can still be happily working at the age of 93! 

Words of Wisdom from Jack Ma

Andy Lau Shares His Success and Failure

Famous Hong Kong actor and singer Andy Lau openly shared his real life story that clear the myth of his success.

He said that the media has glorified him to a certain extent as a hardworking celebrity who doesn't need to eat or sleep; as if he is a superman. However, he clarified that he is merely a normal person just like everybody else watching this video. He does have his fair share of failures in life, love and career.

He said that every morning when he wakes up he will face himself in the mirror and ask these questions?

"Who are you?"
"Have you been true to yourself?"
"Have you lied to yourself today?"

Only after you face your true self and confident that you are an honourable person, then you may go on to greet your family with a smile. When you step out of the house, greet your neighbour with a smile, greet the person on the street with a smile, greet everyone you meet with a smile. It is by sending love to the world that we produce positive energy to people around us.

He asked: "When the world has love; do you think our path to success will be far away?"

Becoming Financially Independent

Most people aspire to become financially independent, but few actually think about or take the actions necessary to reach independence.

Financial independence means having sufficient financial resources to comfortably choose whether to work or not work, or perhaps work in a highly desirable job that otherwise couldn’t support your standard of living. It means being able to withstand the inevitable financial storms along the way. But what key steps does it take to achieve financial independence?

1) Set specific goals. Goals define what financial independence will look like for each of us. Goals, particularly specific goals written out with timetables, can motivate us to initiate and stick with the other keys to financial independence.
 

2) Consistently spend less than you earn. Yes, your mother probably taught you this when you were receiving an allowance as a youngster, but so many of us forget this basic principle. Unless you spend less than you earn, it’s impossible to become financially independent — short of winning the lottery. Consistent saving is even more important than the investment rate you might earn with that savings. Aim for saving at least ten percent of your pre-tax income. If you’re unable to save ten percent now, saving a smaller percentage will help you—especially if you start saving while you’re younger and can let the power of compounding work for you.

3) Create a spending plan. The key to spending less than you earn is to create and follow a spending plan. In general, if you subtract your expenses from your earnings, the amount left should be your savings. Another way to view your savings, though, is to treat savings as an expense item and put it at the top of your budget. Simply have the money deducted from your paycheck and deposited into your savings account. You won’t miss it, and you won’t be tempted to spend it.


4) Invest. To build financial independence, you’ll need to earn a reasonable return on your savings. A savings account alone is not enough. Invest in stocks, bonds, and other assets that involve an acceptable level of risk. Yes, there’s the risk of some loss of principal, but understand that investing is for long-term goals that are at least five years away. When you are closer to reaching your goals, shift the invested funds into those lower-earning but less risky savings accounts and money markets.
 
5) Stay invested. One of the big mistakes many investors make is waiting to invest until the market is really strong—and then bailing out when it sinks. In short, they buy high and sell low. Get in and stay in — and make adjustments if necessary. Keep in mind that the bulk of the returns of a bull market tend to come early in the upswing, and people often miss out on them because they’re waiting for the market to turn “hot.”


6) Diversify. It’s important to diversify your assets. Overloading on company stock, on stock in the industry in which you work, or on other higher-risk investments is an open invitation to trouble. By spreading your investment money among several asset categories, you minimize the impact of the downturns of a particular segment.


7) Use tax-favored accounts. Retirement plans and individual retirement accounts are the most efficient way to build toward financial independence because you get more bang for each invested buck, especially if your employer matches your contributions.
 
8) Bulletproof your independence. As you accumulate money for financial independence, you need to protect it. The primary way is insurance—not just life, health, auto and homeowner’s insurance—but disability and liability coverage. Disability insurance helps offset the loss of income if you can no longer work due to a disability, and liability coverage is a cushion against lawsuits. Another form of insurance is a cash-reserve emergency fund where dollars are kept in a savings or money market account to see you through emergencies or a stretch of unemployment, so you don’t have to dip into retirement accounts or other investments. 

Source: Financial Planning Association

The Path to Success

 

Jack Ma's Advice on Being Successful in Life and Business

Billionaire Jack Ma is the the founder of Alibaba Group, as well as one of the most successful Chinese Internet entrepreneurs. He is also the first mainland Chinese entrepreneur to appear on the cover of Forbes Magazine, and is often called the “godfather of China’s scrappy entrepreneurial spirit”.

The following are some of his lessons we all can learn from:

1. On the mistake he regrets the most

In 2001, I made a mistake.

I told 18 of my fellow comrades who embarked on the entrepreneurship journey with me, that the highest positions they could go was a managerial role. To fill all our Vice President and Senior Executive positions, we would have to hire from external parties.

Years later, those I had hired were gone, but those whom I doubted became Vice Presidents or Directors.

Your attitude is more important than your capabilities. Similarly, your decision is more important than your capabilities!

2. You cannot unify everyone’s thoughts, but you can unify them with a common goal.

Don’t even trust that you are able to unify what everyone is thinking; it is impossible.

30% of all people will never believe you. Do not allow your colleagues and employees to work for you. Instead, let them work for a common goal. It is a lot easier to unite the company under a common goal rather than uniting the company around a particular person.

3. What does a leader have that an employee doesn’t?

A leader should never compare his technical skills with his employees’. Your employee should have superior technical skills than you. If he doesn’t, it means you have hired the wrong person.

Leader stands out for 3 things:

• A leader should be a visionary with more foresight than an employee.
• A leader should have higher grit and tenacity, and be able to endure what employees can’t.
• A leader should have higher endurance and ability to accept and embrace failure.

4. Don’t be involved in politics

One should always understand that money and political power can never go hand in hand.

Once you are in politics, don’t ever think about money anymore. Once you are running a business, don’t ever think of being involved in politics. When money meets political power, it is similar to a match meeting an explosive – waiting to go off.

5. The 4 main questions the young generation must ponder on

What is failure? Giving up is the greatest failure.

What is resilience? Once you have been through hardships, grievances and disappointments, only then will you understand what is resilience.

What your duties are? To be more diligent, hardworking, and ambitious than others.

Do fools only use their mouth to speak? A smart man uses his brain, and a wise man uses his heart.

6. We are born to live and experience life

I always tell myself that we are born here not to work, but to enjoy life. We are here to make things better for one another, and not to work. If you are spending your whole life working, you will certainly regret it.

No matter how successful you are in your career, you must always remember that we are here to live. If you keep yourself busy working, you will surely regret it.

7. On competing and competition

• Those that compete aggressively with one another are the foolish ones.
• If you view everyone as your enemies, everyone around you will be your enemies.
• When you are competing with one another, don’t bring hatred along. Hatred will take you down.
• Competition is similar to playing a board of chess. If you lose, we can always have another round. Both players should never fight.
• A real businessman or entrepreneur has no enemies. Once he understand this, the sky’s the limit.

8. Don’t make complaining and whining a habit

If you complain or whine once in a while, it is not a big deal.

However, if it becomes habitual, it will be similar to drinking: the more you drink, the stronger the thirst. On the path to success, you will notice that the successful ones are not whiners, nor do they complain often.

The world will not remember what you say, but it will certainly not forget what you have done.

9. Advice to entrepreneurs

• The opportunities that everyone cannot see are the real opportunities.
• Always let your employees come to work with a smile.
• Customers should be number 1, Employees number 2, and then only your Shareholders come at number 3.
• Adopt and change before any major trends or changes.
• Forget the money; Forget about earning money.
• Rather than having small smart tricks to get by, focus on holding on and persevering.
• Your attitude determines your altitude.

10. Advice on entrepreneurship

• A great opportunity is often hard to be explained clearly; things that can be explained clearly are often not the best opportunities.
• You should find someone who has complementary skills to start a company with. You shouldn’t necessarily look for someone successful. Find the right people, not the best people.
• The most unreliable thing in this world is human relationships.
• “Free” is the most expensive word.
• Today is cruel, tomorrow will be worse, but the day after tomorrow will be beautiful.

11. The 4 don’ts of entrepreneurship

• The scariest things about starting up is the inability to see, to be snobbish, to be unable to understand what is going on, as well as to be unable to keep up with pace.
• If you do not know where your competitor is, or overconfident and snobbish about your competitor, or are unable to comprehend how your competitor became a real threat, you will surely fall behind him. Don’t be the “they” in this idiom: First they ignore you, then they laugh at you, then they fight you, then you win.
• Even if your competitor is still small in size or weak, you should take him seriously and treat him as a giant. Likewise, even if your competitor is massive in size, you shouldn’t regard yourself as a weakling.

12. On starting your own company

What starting your company means: you will lose your stable income, your right to apply for a leave of absence, and your right to get a bonus.

However, it also means your income will no longer be limited, you will use your time more effectively, and you will no longer need to beg for favours from people anymore.

If you have a different mindset, you will have a different outcome.

If you make different choices from your peers, your life will then be different from your peers.

14. On opportunities

If there are over 90% of the crowd saying “Yes” to approving a proposal, I will surely dispose the proposal into the bin.

The reason is simple if there are so many people who thinks that the proposal is good, surely there will be many people who would have been working on it, and the opportunity no longer belongs to us.

Source: Vulcanpost