networking

10 Practices for Becoming a Self-Made Millionaire

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Becoming a self-made millionaire is no easy task. Yet, for the individuals who have accomplished this major feat in the past, the process involves following a few set rules like these or guidelines that have proven to help self-made professionals, no matter what industry they may be in. If you have your sights focused on a life as a self-made millionaire then consider these rules to live by.

 

1. Do it for the challenge.

If you ask any self-made millionaire why they got started in the field they did, chances are they will not just say “to make a million dollars.” The true story behind most people’s success is that they wanted to accept the challenge of following their dreams and becoming successful on their own terms.

 

2. Never get too comfortable.

There should never be a time in your journey to the top where you stop and think “Ok, I’ve done enough, I can stop working so hard.” If you’ve met your goal and made a million dollars, set another one. You should never be comfortable, you should always be working for more.

 

3. Study and work harder than anyone.

No matter how talented you are, you will never reach your full potential success unless you are willing to study and work harder than anyone else. This is the only way to truly achieve your goals.

 

4. Learn from failures and mistakes.

You are going to make mistakes and you are going to fail. How you react to those failures is what makes you successful. If you fall, don’t get down on yourself, but look at why you failed, take it as a learning experience, brush it off and move on.

 

5. Read every day.

This rule cannot be emphasized enough — you need to be reading all the time. Never stop reading and never stop finding new topics to read about. You need to keep aware of the cutting edge movements within your industry to stay ahead of the trends.

 

6. Keep your mind and body healthy.

Exercise along with mental health breaks are all an important part of being the most successful version of yourself that you can be. Work out daily, eat right and always get plenty of sleep.

 

7. Surround yourself with successful like-minded people.

Surrounding yourself with the wrong people can be a major drain on you. Make sure that you are around people who share your same goals and visions, who are motivated and are true peers that also want financial success. Being around these individuals will motivate you and help you stay focused. Avoid people who don’t care about work. People who spend all of their time partying are not good for your success.

 

8. Give to the less fortunate and take care of loved ones.

We’ve talked about taking care of your mind and body, but it is also important to take care of your soul. Never lose sight of the world around you and those who are in need. Taking care of your loved ones is one of the best ways to enjoy your financial success.

Give back to those in need. I started my Timothy Sykes Foundation to help those who are less fortunate. It has really made a difference in my perspective and work ethic.

 

9. Be honest and transparent.

Lying and being deceitful will never get you as far as you think. You need to always be honest, straightforward and transparent with people. This is a truly important and undervalued practice that will help you earn the long-term professional success you have always wanted.

 

10. To succeed think long-term, not short term.

So many people are focused only on their short-term success and have goals like “I want to make X amount of money in the next year.” Don’t focus on short-term goals, focus on the long-term big picture of where you want your life to be. These are the types of goals that will get you motivated to being truly self-sufficient and building actual wealth for you and your family.

While there undoubtedly is a certain amount of challenge that comes with becoming a self-made millionaire, if you keep these rules in mind and learn from the success of those who have accomplished this goal in the past, then you will be armed with the insight you need to help make your financial goals a reality.

Resources: Entrepreneur.co

Are You a Manager or a Leader? Here’s How to Tell the Difference.

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Within any organization, systems and structure is required to ensure that all the trains run on time. Having an applied universal system in which all members can follow and abide by is a great way to uphold standards, increase accountability and promote unity. You need people whose responsibility is carrying out these systems and assuring that they are implemented properly. Throughout time, these people have held many different names and titles — chief, official, lord and duke, just to name a few. In today’s day and age, we have added new positions to the list, such as supervisor, CEO or manager.

While the names attached to these positions of power are constantly shifting and fluctuating, there is one title that has transcended the years and remains the same — leader.

The reason for this is that a leader can accomplish things that none of these other positions can. Leaders possess unique qualities and traits which prevent them from being molded or classified as simply a supervisor or manager. Here are a few of these qualities.

 

1. Followers versus subordinates

Managing those below you means overseeing your subordinates. Delegating responsibilities, designating tasks and expecting results in return is the way in which a manager operates. Those working under a manager will do what they are told, not because of any blinding devotion, but in expectation of a reward, be it money, accolades or a possible promotion.

In contrast, the most obvious and apparent indicator of a leader is one who has followers. A leader does not have people below them but rather people behind them. Those who work for a true leader are constantly encouraged and inspired, and this is the driving factor behind their work. When you have followers instead of subordinates, they will strive to go above and beyond to achieve a goal, will stay loyal to you through the ups and downs, and will, most importantly, place their trust in you.

 

2. Sustainer versus grower

When a manager is considering how best to achieve their goals, they are usually concerned with sustaining whatever it is they are managing. That is to say, they think of the best ways to maintain the system in which they find themselves. While there is not necessarily anything wrong with this, it does not leave much room for advancement or expansion.

If you are only concerned with how to keep things running the same way, you will become stagnant and, consequently, invite others to surpass you. A leader is someone who is constantly looking forward. They are innovators who possess a growth mindset and are not comfortable with simply performing at the same level.

Marshall Goldsmith says it best in his book, What Got You Here Won’t Get You There: How Successful People Become Even More Successful. Sometimes the systems and strategies that got you to where you are will not take you to the next level. Managers sustain what they have, and leaders shift and change to take their team to the next level. Each day we get older, we become less flexible. Leaders who grow people and organizations know that and try to become more agile each day. When a leader is in charge, they will strive to venture into uncharted territory and reach heights that others may not even think possible.

 

3. Systems versus people

A good manager knows how to work within a system and ensure that others are doing the same. With that being said, their main concern is to perfect the system and then to work different people into it. On the other hand, leaders put people first and create systems to support the people themselves. Leaders have the ability to relate with and understand people. This skill means that they can get the best out of those that they work with, and adjust the system accordingly.

Focusing on the team members who are actually doing the work gives you access to a wealth of knowledge and potential that a set of rules, company policy or handbook, could never provide.

Looking at these traits, it is easy to understand why the title of leader stands in a category of its own. A manager serves an important role and is vital to organizational success, but a true leader is invaluable. Knowing the difference between the two is imperative. If you can recognize and understand what it takes to be a leader, you can then use that knowledge to develop your own leadership skills as well as the skills of the people around you.

It is also important to realize that although these traits can and should be found in every leader, there is no universal handbook to leadership. We are all individuals with our own backgrounds, strengths and weaknesses. Therefore, it is inevitable that everyone’s leadership style will be different. Herein lies the beauty of leadership. To be a proper manager, you must follow the rules and keep the order as best as possible. To be a leader, however, you have to think creatively, add your own personal flair and inspire as many people to join you as possible along the way.

Sources: Entrepreneur.net

4 Ways to Be a More Collaborative Leader

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There are two types of leadership—“me” and “we.” Where do you fall? Do you like your office door closed, no distractions allowed? Or do you prefer your door open, interruptions welcome?

Beware that by tucking yourself away in the corner office, you are isolating yourself… and successful leadership requires collaboration, the opposite of isolation. So if you’re about to lock the door behind you, think instead about leaving it open, literally and figuratively—shift from that detrimental “me” space to the more effective “we” space.

Effectively connecting with your team is more than paying lip service or showing your face on your way in or out of the building. Working in a truly collaborative way means understanding why you need to be a part of your team, rather than being apart from it.

If you are used to operating from a place of “This is my idea, my project, outcome, my result and my credit,” it can be incredibly difficult to switch your mindset. But the business landscape has, and will, continue to change at a rapid rate—and you are only one person. You would need to be superhuman to be able to grasp every aspect of what is necessary to survive. Your team is absolutely essential to continuing success. As a team, you have the complete skillset to turn average work into expert work—to turn threats into opportunities.

Try taking these small steps to make the transition:

 

1. Fix the working environment.

Don’t set yourself up in a cushy corner office with closed walls. Studies have shown that working within a collaborative physical environment actually improves team engagement and drives results. Why? Because collaborative workspaces engender a sense of belonging and a feeling that nobody is excluded from the big decisions that will affect the whole team.

(This doesn’t mean that there isn’t a need for thoughtful “outspaces,” which allow for privacy and quiet and the chance to create and reflect.)

 

2. Be vulnerable.

Allowing yourself to show weakness in front of your team is not weak—it is strong. It can and will lead to reconnection.

If you are able to admit when you have made a less-than-stellar decision or that you are having trouble reaching a successful solution to a problem and need assistance, you will create trust. Opening up gives your team an assumed “permission” to speak up and admit if they need assistance, too. It also opens the opportunity for them to showcase skills you might not have recognized or acknowledged in the past.

 

3. Give credit where it’s due.

Too often, it is easy for a leader to stand solo in the spotlight, leaving the team in the shadows. That attitude creates an internal disconnect—and therefore a lack of trust and an unwillingness to give 100 percent to future projects.

Make sure that you are adequately acknowledging when your team members are the ones responsible for a result, whether that is an idea or a product. When someone adds value, it is essential to acknowledge that contribution—and to do it publicly.

 

4. Be brave.

Be willing to take risks for the benefit of your team—even if they may not necessarily benefit you in the short-term. Your team will see not just a leader but someone who has their collective interests at heart.

This requires a degree of business bravery. Think about this: How does your team currently view you? As someone who stands up for their best interests, or as someone who pushes everyone out of the way for the lifeboats?

Take a leap—not for those lifeboats, but for your team.

Resources: success.net

The 5 Traits of Great Future Leaders

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Finding leaders isn’t about finding those with the loudest or even the most reasonable voice, or even finding the one with most impressive skills. How often have you seen someone with great skills be promoted to a leadership position, only to see him become a harried, crazed person making outrageous decisions that demoralize the team? It happens, but it doesn’t have to happen to your team, when you understand how to spot people with the potential to become leaders, people who will help achieve the vision you’re working toward.

There are five traits of potential leaders that make them easy to spot:

1. They like people.

This is non-negotiable for leaders. Those who are following want to be around and be a part of things led by someone who likes them and is helping them succeed. People don’t want to be around someone who is clearly impatient with them and considers them a nuisance. In other words, they won’t follow someone who doesn’t like them.

 

2. They are possibility thinkers.

Challenges don’t stymie them. Potential leaders aren’t Pollyannas; they are willing to admit that problems exist. But even if solutions aren’t readily apparent, they can find the workarounds that help the team move forward toward the goals.

 

3. They communicate.

Leaders must have a desire to interact with others. Excellent communication skills can be learned, but leaders innately want to express vision, goals and tasks to others. Those whose go-to coping method is to silo themselves away from the community are not yet suited for leadership.

 

4. They are willing to learn.

Leaders are usually finding ways to learn and grow, and they are motivated to share that information. There will always come a point in a leader’s life where the vision they are pursuing requires them to learn and become more: a better communicator, a dynamic re-director or a stronger motivator.

 

5. They can catch a vision.

Leaders may not come with their own vision at first, but they can be inspired to catch an existing vision. Their determination to be possibility thinkers and willingness to learn will aid them in learning from a mentor how to create their own visions.

 

While some people have a natural bent toward being a leader, good leadership skills can be learned by people who have these five traits. You’ll grow as a leader as you identify these people and help them develop into all that they can be. I’ve discovered that one of the most satisfying parts of my life, both professionally and personally, has this process of finding and growing successors.

Resources: Success.net

PIC 2015 – No Capital, No longer a Problem

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Property investment can be a long-term endeavour, such as earning the rental an apartment building, or an intended short-term investment in the case of flipping. That is the way of property investment but have you ever wonder is there any other way to invest in property? Now this is where Property Investment Convention 2015 (PIC2015) come into play.

We all know investment mean you need a certain amount of capital and when we talk about property it is a ball game of “tens-of-thousands”. This makes investing an even harder game as for the young adults who just on their dawn of career or the middle-age men who had caped his loan ability due to his 1st property.

You might be thinking young adults who are in their mid 20’s is to be expected not to have the money to invest one way or another. However, during young age we have the spirit, passion and most important of all the energy to fight for what we want most. Money had been an issue of life whether you like it or not. Hence, investment should start at a young age when both your brain and your energy level are high, start doing it right.

For the middle-age group, if one had have his property house that enough as many are not even capable of owning any. Wrong, middle-age group are the one that needed investment even more as their family is setting up. Money will be even more important as the dependency of money increased.

PIC 2015 will open up your mind and guide you through a different method or we called it “Creative Method” to venture into property investment while keeping check with your financial budget. Join us and learn from John Lee (one of our speaker in PIC2015) how to invest in property with a different method.

Dump the mindset of investing the old and traditional way and learn how to invest a different way. John Lee will guide you through how to invest in a way that he had mastered in and are using it widely in Malaysia and also UK. Plus, he is a international speaker and own millions pounds of property all across UK.

Hint: Think about your car, which you are paying back loan to the bank after you buying it. Your driving it, using it, owning but do you really have full control in it? Try miss 1 month of loan payment, and see what happen to your car.

8th Global Entrepreneurs Roundtable (GER)

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MOC Capital with Wealth Mastery Academy & MICE Preferred are proud to be the 8th Global Entrepreneurs Roundtable & Rise of ASEAN host in Kuala Lumpur this 2015! We Aim to gather all top-notched and upcoming entrepreneurs and investors to this once in a year annual event. Our team is well equipped to provide you an experience like no other!

We would like cordially invite you and your esteemed organization to be part of our perpetual growth in investments, entrepreneurships and educational conference as we have assist and seen tens of thousands of our participants grew! We wish to see your growth too at the Rise of ASEAN Conference & 8th Global Entrepreneurs Roundtable this 17th – 19th April 2015 in Kuala Lumpur, Malaysia!

$xx Trillions in Assets
under management presented by participants

ONE Location,

Global Connections

In a recent article by Forbes, it states ‘At the Milken Institute Global Conference in Beverly Hills a panel discussion on Southeast Asia provided data, history and empirical experiences that all point toward the ASEAN member states continued economic growth. Moreover, the panel suggested the ten ASEAN member states – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam; should be the primary destinations for businesses looking to expand in Asia and investors looking to invest in Asia now and for many years to come.’

GER have had been in held in South Africa, Singapore, China and now Kuala Lumpur, Malaysia.

Rise of ASEAN Conference

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This April 2015, MOC Capital Berhad with Wealth Mastery Academy & MICE Preferred presents you Rise of ASEAN Conference (ROAC) & The 8th Global Entrepreneurs Roundtable (GER) happening in Kuala Lumpur; A first ever conjoined entrepreneur and investment outlook into ASEAN and Global.

The aim of Rise of ASEAN Conference (ROAC) is to provide not only current updates and scene from the entrepreneur and investment arena, but also as a main networking-opportunity-platform for all veteran and upcoming entrepreneurs, investors, small, medium and giant business and brand owners and not forgetting renowned investment bankers; to share and provide opportunity to grow bigger and wider-across the globe.

This event is also a perfect platform not only for networking, grasping opportunities but also as a Marketing gateway where you can showcase your products and services and to escalate your company’s brand portfolio.