Wednesday, 18 March 2009

Book Review - MANIAC! "You've to be a little crazy to succeed in this crazy world!" by Andy Ong

I was reading this book written by Andy Ong who is the bestselling author of "Personal Financial Planning in Singapore" who also founded the Financial Planning Association of Singapore (FPAS) when he was 26 years of age and served as its Founding President for two terms. He subsequently became CEO of ERC Holdings Pte Ltd which is now a multi-million dollar company that comprises 11 companies withing the group with interests in education, publishing, marketing services and consulting operations.

This book bring you the mindset of Asia's 50 highly successful individuals and how you can replicate this mindset to achieve success!

In financial planning, it is not all about saving and investing but also on how to increase your personal income so that you have surplus to save and invest. I strongly recommend reading this book if you want to know the mindset of the highly successful individuals and how they make money.

I'm summarize one part which I find it most useful to share on the 4 Phase of how to move from Struggler to Maniac:

Phase 1: Step out of your comfort zone!

Maniac pointed out that many of us are so comfortable with our everyday lives that we are not contemplating our next moves. In fact, it is their personal belief that the vast majority are so comfortable that they do not plan to maximise their career potential. Even if they do, they may be short-changing themselves by setting targets that they know they can comfortably attain. The first step is thus to GIVE YOURSELF A CHANCE!

I personally feel that without this Phase 1, nothing change!

During this recession, it could be a good time to reflect what we really want in life and plan for rainy day. Many of us are too busy with our daily life running a rat race. Sometimes it take some courage to step out of our comfort zone and make some short term sacrifice in order to have long term gain. We must be crazy if we expect something different will happen by doing the same thing over again and again without changing anything.

Phase 2: Find a Mentor

Every single one of the Manics credited his or her success to someone who has guided them to succeed in their respective fields. They all have mentors who showed them directions in life and how to fully take advantage of the opportunities that they are given. You will be surprised how willing successful individuals are in sharing their experiences if you ask properly and do not intrude into their lives too much.

Phase 3: Commit to change

Knowledge is very much wasted if it is not put to use. Most of us learn what is necessary and try to implement the knowledge. However, when the first problem arises, we soon forget about the whole idea and go back to our comfort zone and safety net which often means that we are giving a half-hearted attempt. Manics commit themselves 100% and are constantly on the prowl for opportunities. They live, breathe and eat what they believe in.

Phase 4: Put together strategy to achieve personal success

Maniacs plan to succeed in their chosen field. They plan to the best of their ability, leaving as little to chance as possible They know that luck plays an important part in the path to success, perhaps even to the extent of 80 to 90%. They also want to maximise their chances on the factors they can control. These include:

- Which industry to be in?
- How to gain a competitive advantage in that industry?
- How to assemble the right team to implement the business mode?
- Putting in the extra effort to deliver a superior value proposition.

P.S. To find out more, you can either buy the book or borrow from the library and search by Call Number 650.1 ONG - [BIZ]


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