Basically means he makes himself accountable for all that has happened to him.
If he is poor, it's his fault. If he failed a project, he probably skipped something. If he did not win, he didn't do enough to deserve that win.
He doesn't blame the environment. Meaning, it's not the boss' fault that he has a low pay. It's not his teamate's fault if they lost the match. It's not the govenments fault that he is now a bankrupt.
Well, true, it's a little dangerous if you take it too far. You'd probably end up @ an mental institute. The real trick is to reframe it such that it isn't destructive and yet it will compel you to do better next time.
Fact is that too many of us blame everything and everyone else except for ourselves. That's not the problem. The problem is that when that happens, we think that everything is ok, and then make the same mistake again.
Not smart. I believe that to live non-constructively is a sin. So for those who are just browsing...just forget what I said ^^
For the rest of us who aspire to be something, let us just hope that we will not be destroyed because we refuse to take responsibility for our own actions, no matter how ugly the truth of it may be.
Godspeed ^^
Showing posts with label secrets of the rich. Show all posts
Showing posts with label secrets of the rich. Show all posts
Thursday, August 16, 2007
Sunday, July 8, 2007
Secrets Of The Rich - Leverage
A rich person knows that he using his own strength he can never multiply his own efforts and so he seeks means and ways to do so with not only what he has, but with other people's contribution as well.
Life is filled with examples where the 'best' thing/service/product almost always can't seem to survive while those that make it big time are those with average product/service but have the best systems in place...example:
Mcdonalds - They don't have the best burgers, however their franchise system is responsible for their viral like growth.
Toyota - Their stuff is never outstanding, but it is always good enough and affordable. Soon to take over as the biggest car manufacturer in the world.
Someone once summed it up by saying that he'd rather have 10% productivity of 10 men then 100% productivity of himself. That way he can get the same work done and still have resources to do other things as well.
So what are the things that we must leverage?
1. Money
2. Effort
3. Time.
Money - In singapore, banks have a pathetic interest rate of abt 0.25%.. I believe that's also the case for many banks around the world.So, saving's a pathetically slow way to get rich don't you think?
Investing is one way to leverage on money to earn more money. Obviously there are the so called 'risky' investment vehicles, as well as the 'safe' ones. The point is that if you want your money to grow on its own and not only by adding to it, you will need to get it invested.
Time / Effort -
Why are large companies able to do things the way they do? Why some people spend their entire lives running a business which doesn't seem to grow? That's because they are able or unable to leverage on other people's time and effort.
Businesses stay small when the owner insists on doing everything himself. That's fine in the beginning when costs have to be kept low, however once things start to grow, he ought to grow his manpower as well.
If you noticed, most people are rich because they own businesses, invested, struck lottery or gena a large inheritence. Obviously, most of us aren't lucky enough for the last 2 to happen to us.
So, for those of us who can't seem to strike lotteries at will and don't have relatives who are stinking rich, I guess the only way is for us to venture out and learn more about businesses and investment.
Nothing ventured...nothing gained.
Life is filled with examples where the 'best' thing/service/product almost always can't seem to survive while those that make it big time are those with average product/service but have the best systems in place...example:
Mcdonalds - They don't have the best burgers, however their franchise system is responsible for their viral like growth.
Toyota - Their stuff is never outstanding, but it is always good enough and affordable. Soon to take over as the biggest car manufacturer in the world.
Someone once summed it up by saying that he'd rather have 10% productivity of 10 men then 100% productivity of himself. That way he can get the same work done and still have resources to do other things as well.
So what are the things that we must leverage?
1. Money
2. Effort
3. Time.
Money - In singapore, banks have a pathetic interest rate of abt 0.25%.. I believe that's also the case for many banks around the world.So, saving's a pathetically slow way to get rich don't you think?
Investing is one way to leverage on money to earn more money. Obviously there are the so called 'risky' investment vehicles, as well as the 'safe' ones. The point is that if you want your money to grow on its own and not only by adding to it, you will need to get it invested.
Time / Effort -
Why are large companies able to do things the way they do? Why some people spend their entire lives running a business which doesn't seem to grow? That's because they are able or unable to leverage on other people's time and effort.
Businesses stay small when the owner insists on doing everything himself. That's fine in the beginning when costs have to be kept low, however once things start to grow, he ought to grow his manpower as well.
If you noticed, most people are rich because they own businesses, invested, struck lottery or gena a large inheritence. Obviously, most of us aren't lucky enough for the last 2 to happen to us.
So, for those of us who can't seem to strike lotteries at will and don't have relatives who are stinking rich, I guess the only way is for us to venture out and learn more about businesses and investment.
Nothing ventured...nothing gained.
Tuesday, July 3, 2007
Secrets Of The Rich - Insurance
Why the rich get richer and the poor get poorer? many reasons... and one of them..that has been given too much negative coverage is this...
Insurance.
If you are unsure about savings or investment accounts, nevermine. Just get some blardy insurance for things like : personal hospitalisation, disease, car, etc.
Life of a poor man:
Save save save save....wow $30,000
Shit..gena some farny disease...$30,000 gone.
Save save save save...nice nice..now $30,000 again
Shit...some idiot banged into car...$ 30,000 gone.
save save save save...phew...$30,000!!!
Shit...roof leaking...$30,000 gone.
You get the point.
Think about it. One of the reasons the rich get richer is because even though they already have the money, they have insurance to ensure that they do not need to touch their own money when an emergency arises.
Does it cost a bomb to get insurance? No. $50/mth could probably cover you for almost $100,000 for major illnesses. I can understand why some people get the feeling that they should kill themselves even after the hardships of recovery from a serious illness. It usually happens when they see the bill.
And you know what? You can't bring down the costs coz 1. the machinary is expensive and 2. the personal is expensive. Yea you want cheap fees. For that you need cheap labour. Would you be willing to work for cheap fees after going through half your life and spending tons to get your MD?
There you go.
Go talk to an insurance agent and try to get the following covered:
Self - Hospitalisation (non major illnes)
Self - Major Illness
Self - Disability
Self - assets (car, house)
Others - death (unless u could care less for the people who took care of you)
--------------------
Personal experience: I got a disease called Meningites out of the blue (go wiki it). It was a non-specific, probable bacteria infection (which is basically as good as saying 'unknown'). After 2 weeks of hospitalisation, the total hospital bill was almost $20,000. Thank god it happened while I was in the Army...they sponsored it. Out of all that, I only paid $90 out of my medisafe account. Well, given my families' current financial status, I wonder what would happen if I wasn't in the army and I had no coverage for that at all. Wtf are they going to find that money? And for a hospitalised illness, $20,000 was already a pretty small sum. What if something worst happened to me? I'm not going to find out... Do yourselves a favor...if not for financial reasons..then for health..ok?
Insurance.
If you are unsure about savings or investment accounts, nevermine. Just get some blardy insurance for things like : personal hospitalisation, disease, car, etc.
Life of a poor man:
Save save save save....wow $30,000
Shit..gena some farny disease...$30,000 gone.
Save save save save...nice nice..now $30,000 again
Shit...some idiot banged into car...$ 30,000 gone.
save save save save...phew...$30,000!!!
Shit...roof leaking...$30,000 gone.
You get the point.
Think about it. One of the reasons the rich get richer is because even though they already have the money, they have insurance to ensure that they do not need to touch their own money when an emergency arises.
Does it cost a bomb to get insurance? No. $50/mth could probably cover you for almost $100,000 for major illnesses. I can understand why some people get the feeling that they should kill themselves even after the hardships of recovery from a serious illness. It usually happens when they see the bill.
And you know what? You can't bring down the costs coz 1. the machinary is expensive and 2. the personal is expensive. Yea you want cheap fees. For that you need cheap labour. Would you be willing to work for cheap fees after going through half your life and spending tons to get your MD?
There you go.
Go talk to an insurance agent and try to get the following covered:
Self - Hospitalisation (non major illnes)
Self - Major Illness
Self - Disability
Self - assets (car, house)
Others - death (unless u could care less for the people who took care of you)
--------------------
Personal experience: I got a disease called Meningites out of the blue (go wiki it). It was a non-specific, probable bacteria infection (which is basically as good as saying 'unknown'). After 2 weeks of hospitalisation, the total hospital bill was almost $20,000. Thank god it happened while I was in the Army...they sponsored it. Out of all that, I only paid $90 out of my medisafe account. Well, given my families' current financial status, I wonder what would happen if I wasn't in the army and I had no coverage for that at all. Wtf are they going to find that money? And for a hospitalised illness, $20,000 was already a pretty small sum. What if something worst happened to me? I'm not going to find out... Do yourselves a favor...if not for financial reasons..then for health..ok?
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