Understand Your Customer

When was the last time you met and deal a difficult customer?

The most important thing to realize how to deal with upset customer whether internal or external is not pinpoint the mistakes made. It is vital to deal with his feelings, then deal with his problem. Upset customers are liable to have strong feelings when you, your product or service lets him down. He will probably wants dump these feelings to you.

For Your Financial Freedom,

Lay Peng

Think Positive

The way you think often affects the outcome of your actions.

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Let’s look around; Why there are people who are successful did not seem to be particularly sophisticated business people. In other words, they did not seem to have any business training or acquired any qualifications.
Do you know how these people had become so successful?

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It is they do not know they can not do it. You and me can see the pitfalls, we know about business and we see all the ways we can fail. These people only see how they will succeed.
This was a powerful message – these successful business owners were talking to themselves in a much more positive way than less successful people..

For Your Financial Freedom
Lay Peng

http://www.topspeakeronline.com/http://www.videeoonlineseminar.com/

P.S: Mr. Robert Kiyosaki has his Rich Dad as his mentor while I have him and other Top Speakers and World Class Gurus as mine.

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The author, publisher and distributors particularly disclaim any liability, loss, or risk taken by individuals who directly or indirectly act on the information contained herein. All readers must accept full responsibility for their use of this material.Copyright © 2007

Are You Lazy To Be Rich!

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When I started work after graduation, I spend on the things I desired with my earned income. I never wanted to buy something that is too expensive because that is not within my budget.

I know the finest things are great to have but I would tell myself to forget it. It is outside of my budget.

That is the way I was brought up. Spend only within my means and not fret about things that I cannot afford. These things are meant for the rich people only.

After reading the book Rich Dad Poor Dad by Robert Kiyosaki, I realized my mistake, excuses of laziness.

Instead of thinking very hard on how to earn money to buy those expensive finest things, I have chosen the easy way out by giving myself the plain excuse that I cannot afford it.

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In fact, my laziness thinking it hard to make money is inherent in a lot of ways in my life.When someone tried to give me opportunity and show me a way that I could earn money, I would reject him because I was too busy with my employment.

I felt that there is no need for me to further stretch myself to earn extra money since I was already receiving a reasonable steady income. I should relax and enjoy myself during my leisure time instead of working very hard!

I simply wanted to become rich without the need to go through the process of failures and setbacks.

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For Your Financial Freedom

Lay Peng

http://www.videeoonlineseminar.com/

http://www.topspeakeronline.com/

P.S: Mr. Robert Kiyosaki has his Rich Dad as his mentor while I have him and other Top Speakers and World Class Gurus as mine.

**** DISCLAIMER *****

The author, publisher and distributors particularly disclaim any liability, loss, or risk taken by individuals who directly or indirectly act on the information contained herein. All readers must accept full responsibility for their use of this material.Copyright © 2007

How Probability Play A Part In Investment?

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To find out how arithmetic plays a part in an investment this question, I need to explain a little on the probability using the example of a coin.When I throw a coin and let it land onto the table, it is obvious that the coin is either showing head or tail.

What if I throw the coin twice, what are the chances of the coin showing head? I really cannot be sure what the chances are. I may get, is it 2 heads in a row, I may get 1 head and 1 tail or I may get 2 tails.What if I throw a hundred times? How many times is the coin showing head?

I will find that the number will probably be somewhere near 50. In other words, I will find that there is a fifty percent chance of getting a head if the number of throws is large enough.

The probability of getting a head is the chances of the coin showing head out of a large number of throws. That probability of getting a head is 0.5.

Similarly, when I throw a six-sided dice, the probability of getting a six in a 100 throws is about 1/6 chance. But I can do something to increase my odds of getting a six. I can use a modified six-sided dice that has a higher probability of showing a six compared to a normal six-sided dice. In this way, the probability of getting a six is increased.

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For Your Financial Freedom

Lay Peng
http://www.videeoonlineseminar.com/

http://www.topspeakeronline.com/

P.S: Mr. Robert Kiyosaki has his Rich Dad as his mentor while I have him and other Top Speakers and World Class Gurus as mine.

**** DISCLAIMER *****

The author, publisher and distributors particularly disclaim any liability, loss, or risk taken by individuals who directly or indirectly act on the information contained herein. All readers must accept full responsibility for their use of this material.Copyright © 2007

The Guaranteed Return In Investment!

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I used to go after guaranteed return in investments before I gained financial education,. Usually, I will read about mutual funds giving a guaranteed return in newspaper advertisements. Of course, I would grab the chance to invest in them The best part is that they even provide guarantee on the invested capital. To me, this is too good to be true.








Robert Kiyosaki

Upon reading the book Rich Dad Poor Dad by Robert Kiyosaki, I realized that it is important to gain financial literacy. Thus, I understand that I had to invest my time, effort and money to study. With my newly gained knowledge, I realised that a lot of the presented information in the advertisements could be rather misleading to someone who is not financially educated.


For Your Financial Freedom

Lay Peng

http://www.videeoonlineseminar.com/









http://www.topspeakeronline.com/

P.S: Mr. Robert Kiyosaki has his Rich Dad as his mentor while I have him and other Top Speakers and World Class Gurus as mine.

**** DISCLAIMER *****

The author, publisher and distributors particularly disclaim any liability, loss, or risk taken by individuals who directly or indirectly act on the information contained herein. All readers must accept full responsibility for their use of this material.Copyright © 2007

Difference between Good And Bad Debts!

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Firstly, I can identify all my bad debts and try to convert them into good debts. For example, I own a car but I rarely used it. I could rent it out to earn rental income. This rental income would be used for covering my car loan. In this way, I had converted a bad debt to a good debt.
If I failed to find someone to rent my car, I would try to settle my bad debt as soon as possible. Using the previous example, my car loan is a bad debt because every month I would need to service the loan repayment. Since I rarely used the car, then it is better for me to sell it off to pay off my bad debt.
Secondly, I need to do proper financial planning for all my good debts since there is a danger at any point of time a good debt become bad debt. Learning from the Rich Dad’s series by Robert Kiyosaki, it is important to good debts to accumulate wealth. But how many or how much good debt should I be taking on?
For example, if I were to borrow from a bank to invest in property, I would incur debt. Since my property was on rental and the monthly rental income was more than the monthly mortgage loan repayment, then my debt was essentially a good debt.
Assuming I had bought a property valued at $200K and I had loaned at 80% of the valuation price, then my good debt would be $160K. Now there were two possible scenarios that my good debt could change into bad debt.
The first scenario is that my tenant stops to lease my property and thus there were no more rental income. Without anymore rental incomes, then my debt would become bad debt. And then, I need to service my mortgage loan all by myself.
A precaution based on my financial education, it is necessary for me to set aside 3 to 6 months of expenditure including mortgage loan repayment. If such a scenario were to happen, I have to be able survive for at least 3 to 6 months. This period should be long enough for me to find new tenant or sell off my property.

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The second scenario is that the valuation price of my property suddenly drops to $100K. Assuming that the bank only allowed me to borrow at a maximum limit of 80% of the valuation price, then the loan I could only borrow is $80k. Thus, the bank would force me to top up the difference of $80k. If I failed to do so, then it would be considered to be a default on mortgage loan. The bank then has the right to sell off my property to reclaim the loss.
If I had more than one property, then I would be having a much worst financial situation when the second scenario occurred. This is where financial education can plays an important part as highlighted by the Rich Dad Series by Robert Kiyosaki. With my financial education, I could determine how many and how much debts that I could take on without running into the risk of becoming bankrupt if the situation were to turn against me. That is why I should not be overstretching myself with too many good debts. I would borrow within a reasonably safe limit.

For Your Financial Freedom

Lay Peng

http://www.videeoonlineseminar.com/

http://www.topspeakeronline.com/

P.S: Mr. Robert Kiyosaki has his Rich Dad as his mentor while I have him and other Top Speakers and World Class Gurus as mine.

**** DISCLAIMER *****

The author, publisher and distributors particularly disclaim any liability, loss, or risk taken by individuals who directly or indirectly act on the information contained herein. All readers must accept full responsibility for their use of this material.Copyright © 2007

How To Turn Good Debts Into Assets?

I realized that most people made their wealth through real estate after reading a number of books,. Robert Kiyosaki.has highlighted this in the Rich Dad’s series. Thus, I decided to learn more about property investment. Even though I did not have money to invest in property, I still went ahead to attend property investment seminars for the purpose of learn.
There are two kinds of property investment seminars based on my understanding. The first kind of seminar teaches me how to go about doing property investment and it provides education on the criteria to look out for in property investment. This is good for me have a basic theoretical foundation of property investment.

For Your Financial Freedom

Lay Peng

http://www.videoonlineseminar.com/

http://www.topspeakeronline.com/blog

P.S: Mr. Robert Kiyosaki has his Rich Dad as his mentor while I have him and other Top Speakers and World Class Gurus as mine.
**** DISCLAIMER *****
The author, publisher and distributors particularly disclaim any liability, loss, or risk taken by individuals who directly or indirectly act on the information contained herein. All readers must accept full responsibility for their use of this material.Copyright © 2007