Archive for November, 2008

Wink and Grow Rich #3
Sunday, November 30th, 2008

The journey of nine year old Richard in Wink and Grow Rich is one which I believe many of us can relate to. If you are lucky enough to have a copy of the book, aim to read a chapter a day. If you don’t have the book then you can Click here to download the Book Summary or Audio Summary.

The key really is in: Apply, Rinse and Repeat.


What You See Is What You Get

We all live in our own reality, and we’re limited by our beliefs. Think of the time when it was thought that the world was flat, or when flying to the moon seemed like an impossibility.

The opportunities of man are limited only by his imagination. But so few have imagination that there are ten thousand fiddlers to one composer.

- Charles F. Kettering

Once you open your mind to the possibilities, you will see all the opportunities in the palm of your hand.

Wink BookWink CD

Filed under: Wink — Tags: , , , , — Selina Lai @ 11:28 am
Financial Crisis - Summary to Date
Tuesday, November 25th, 2008

I just read this article, and I think it does a pretty good job of explaining the financial crisis up to now, and also what is currently ‘brewing’ in the background (which might actually come true depending which way the world decides to turn)

I think the world needs to prepare themselves for another shock as more companies are being dried up of credit (ie. loans) Obvious things will become worse:

  1. Cut backs on any business expansions
  2. They will be forced to fire more staff
  3. Leading to mortgage defaults
  4. Meaning more bad debts, and tighter credit
  5. The loop continues…

Until now, Australia has been very sheltered from a lot of this financial crisis. As the financial crisis drags out and becomes worse, people are starting to hear that the mining/resource/oil/gas industry are scaling back their operations, which then leads to redundancies across their workforce.

At the same time, Australian banks are most probably preparing themselves for Babcock and Brown to go under after their trading halt got extended for another week. It’s not that pretty when it starts affecting your backyard, and this is what we’re starting to see. It’s happened so fast, and most people are not prepared for it.

So watch your back pocket, and if possible, borrow as much as possible for a buffer just in case the worse is yet to come.

The financial crisis has morphed into several simultaneous crises that feed upon each other. The real estate bust crippled the banks. Crippled banks starved companies of credit. Starved companies laid workers off. Laid-off workers defaulted on mortgages, deepening the bust in real estate. By a similar process, crippled financial institutions stopped making auto loans, which caused people to stop buying cars, which pushed the carmakers to the brink. If the carmakers go down, a whole new round of job losses and mortgage defaults will slam into the financial system - Source

Filed under: Yong-Long — Tags: , , , — Yong-Long Lai @ 12:02 am
Kiva on Frontline
Friday, November 21st, 2008

Today I want to introduce you guys to a video I found which give us a look at Kiva in the field. I think it’s a great success story to hear, and it represents the heart of Your Success Club =)

If you can afford to loan $25 to change someones life, come join Your Success Club’s Kiva lending team here at:

www.Kiva.org/team/YourSuccessClub

Filed under: Contribution — Tags: , , — Selina Lai @ 12:56 am
Learning from the Experts
Monday, November 17th, 2008

One thing I’ve come to realise about people, especially experts in their field, is that we all love to share our knowledge. So why not take advantage of this by learning from the experts at success!

Just as you would ask a doctor for medical advice, a mechanic about your car, you should go to successful millionaires to learn and listen to their advice.

We’ve decided to put up an Expert Profile page for your convenience do that you can read up on some of the Experts at Your Success Club.

Click here to find these experts

We’ll be adding more expert profiles gradually so please remember to check back regularly =)

Filed under: Announcements — Tags: , , — Selina Lai @ 12:24 am
Don’t Quit!
Thursday, November 13th, 2008

Here’s an inspirational video on not giving up.

I’ve taken the liberty of typing up the Don’t Quit Poem:

When things go wrong, as they sometimes will.
When the road you’re trudging, seems all up hill.

When funds are low, and debts are high.
And you want to smile, but you have to sigh.

When care is pressing you down a bit
Rest, if you must…. but don’t you quit

Life is strange, with its twists and turns
As every one of us sometimes learns.

And many a failure turns about,
When he might have won had he stuck it out

Don’t give up though the pace seems slow
You may succeed with another blow

Success is failure turned inside out
The silver tint of the clouds of doubt

And you never can tell how close you are,
It may be near when it seems so far:

So stick to the fight when you’re hardest hit -
It’s when things seem worst that you must not quit.

Filed under: Inspiration — Tags: — Selina Lai @ 7:23 pm
Wink and Grow Rich #2
Sunday, November 9th, 2008

The journey of nine year old Richard in Wink and Grow Rich is one which I believe many of us can relate to. If you are lucky enough to have a copy of the book, aim to read a chapter a day. If you don’t have the book then you can Click here to download the Book Summary or Audio Summary.

The key really is in: Apply, Rinse and Repeat.


Choose The Level You Want to Play At

Life is a Game we all play whether we want to or not. The rules of the game change depending on what level you want to play at. The wealthy know the rules, and they know that wealth is in the resources around you. So which of the 4 levels do you choose to play/communicate?

  • Exchange
  • Connect
  • Motivate
  • Inspire

The majority of us Exchange with those around us. Exchange news, Exchange stories, Exchange gossip.

With better Clarity, we Connect with the people around us. To form meaning and value in our relationships.

To Motivate is the work of leaders with Focus. They Connect with the people around them and create momentum.

The leader of leaders are those who Inspire, those who have a Vision.

Wink BookWink CD

Filed under: Wink — Tags: , — Selina Lai @ 1:07 pm
Barack Obama: Leader of the new era
Thursday, November 6th, 2008

Barack ObamaMany people say that it’s the beginning of a new era if Barack Obama wins this election. Obviously Obama is now the 44th President of America. It’s very interesting to see how far America has come to for us to see the first Black President. America has obviously evolved quite a bit since the days of slavery and is pretty incredible to see Martin Luther King’s famous speech, “I have a dream…” actually beginning to come true.

Another bonus for Obama is that he grew up in Indonesian and hopefully understands some Muslim culture and custom. We will find out if this is true, but it’s what we would like to think, at least hopefully understand more than the other 43 presidents before him since he has actually lived and experienced it first hand.

Also, Obama grew up in the ‘main streets’ of America and faced many of the same challenges ‘main street’ American faced. Unlike some of the more recent president who were effectively born and breed into a role of politics, Obama is just another ‘Joe Bloggs’ from the street (within my time anyways). Let’s hope Obama can get America out of the mess that Bush created.

Personally I think it’s great that an ordinary black American from the streets can become the president of America. It truly makes you believe, if he can become the first black president of America, then we can be and do anything we put our mind to!

What is your excuse?

Here’s some content on leadership from Your Success Club

Filed under: Inspiration — Tags: , , , , , — Yong-Long Lai @ 11:08 pm

Here’s the media release from the Reserve Bank of Australia state the reasons for the 0.75% interest rate drop today. Official interest rates is now 5.25% from an all time high of 7.25% (5th March 2008)! The last time interest rates in Australia was 5.25% was 3rd December 2003 (nearly 5 years ago), be expecting mortgage interest rates to be below 7% for the first time in a very long time!

Looking through the RBA media release, I think the important sentence out of the whole media release is, “…On balance, it appears likely that spending and activity will be weaker than earlier expected….”

End of the day its good news for people with variable mortgages, if you fixed your home loans… hopefully you didn’t fix your interest rates for too long. As with the economy only time will tell how severe its has been effected. Over the next few years I wouldn’t be surprised if unemployment increased as small to medium businesses close their doors or at least cut back their goods and services as demand drops.

It’s definitely worth learning and understanding about investing particularly over the next few years, such as the stock market or in real estate . Interest rates are now ”low” and there are many buying opportunities if you have the cash or the cashflow to service the debt. Take advantage of this opportunity and start your nest egg or build on it especially in these depressed times.

Statement by Glenn Stevens, Governor Monetary Policy

At its meeting today, the Board decided to reduce the cash rate by 75 basis points to 5.25 per cent, effective 5 November 2008.

World financial markets have remained turbulent over the past month. Global equity prices have been volatile and fell further in net terms, and there have been significant exchange rate movements, including a sharp depreciation of the Australian dollar. A number of governments have announced measures to strengthen their financial systems, which should help to stabilise conditions over time.

International economic data have continued to point to significant weakness in the major industrial economies, and there have been further signs that China and other parts of the developing world are slowing as well. These conditions have contributed to further falls in world commodity prices.

In Australia, the overall path of economic activity appears until recently to have been close to what the Board had expected, with a needed moderation in demand occurring after a period of earlier strength. Recent reductions in borrowing rates, the depreciation of the exchange rate and the fiscal stimulus announced in October will work to assist growth in the period ahead, but deteriorating international conditions and falling commodity prices will have a dampening influence. On balance, it appears likely that spending and activity will be weaker than earlier expected.

Consumer price inflation in Australia remained high in the September quarter. As expected, CPI inflation in year?ended terms picked up to 5 per cent, while underlying measures were just over 4½ per cent. Nonetheless, capacity pressures are now easing and, given the outlook for more moderate growth in demand and activity, it is reasonable to expect that inflation in Australia will soon start to fall. Global disinflationary forces will assist in this regard, though the depreciation of the exchange rate means that the decline of inflation to the target could take longer than would otherwise be the case.

Weighing up these international and domestic developments, the Board judged that a further significant reduction in the cash rate was warranted. The Board will continue to monitor developments and make adjustments as needed to promote sustainable growth consistent with achieving the 2–3 per cent inflation target over time.

official statement by the RBA

Filed under: Yong-Long — Yong-Long Lai @ 5:17 pm
John Maxwell on Leadership
Sunday, November 2nd, 2008

John C. Maxwell is an internationally recognized leadership expert, speaker, and author who has sold over 13 million books. His organizations have trained more than 2 million leaders worldwide.

“A leader is one who knows the way, goes the way and shows the way”

The following article is by Dr John C. Maxwell.


Leading Up and Leading Across: Challenges of a 360° Leader

By Dr. John C. Maxwell

The Principles 360° Leaders Practice to Lead Up

Leading up is the 360° leader’s greatest challenge. We’re accustomed to influence flowing from the top down, and, for that reason, leading up feels like running uphill. True enough, leading up requires extra effort. To exert influence upon those in authority above us calls for boldness, respect, and sacrifice. In the long run, the extra effort will distinguish you from the rest of the pack. Jack Welch calls this “getting out of the pile.” The following suggestions are ways to successfully catch the attention of those at the top.

Lighten Your Leader’s Load

To lead up, increase your value by helping to lift your leader’s load. Try to anticipate what your leader needs and wants. Occasionally, you may even approach your leader and ask, “What can I do for you today?” Always remember: when the boss succeeds, the organization succeeds. Ultimately, you can’t succeed if your boss fails.

Being a load lifter has its benefits. It demonstrates your dedication to the team, and displays gratitude for your position on the team. In easing your leader’s burden, you’ll be noticed and valued. At the same time, you’ll be playing a substantial role in helping the organization move forward.

How to Lift Your Leader’s Load

Be sure to do your own job well before you concentrate on lifting your leader’s load. If you drop your personal responsibilities, you’ll drag your leader down rather than propping them up.

When you find a problem, provide a solution. If you only identify what is broken, you look no different than a complainer. Show initiative by repairing the problems you encounter.

Tell your leaders what they need to hear, not what they want to hear. In the words of President Dwight Eisenhower: “A bold heart is half the battle.” Have the courage to speak your mind and confront difficult truths.

Go the second mile. Be willing to arrive early, stay late, and do more than your share of work.

Stand up for your leader whenever you can. Don’t become party to backbiting or criticism. Speak highly of your leaders and diffuse the negativity others may show toward them.

Stand in for your leader whenever you can.

In the words of Colin Powell: “When we are debating an issue, loyalty means giving me your honest opinion, whether you think I’ll like it or not. Disagreement, at this stage, stimulates me. But once a decision has been made, the debate ends. From that point on, loyalty means executing the decision as if it were your own.” There will be instances when you do not see eye to eye with your leader’s decision. Respecting their authority by supporting them, even when you disagree, will give them the confidence to trust you.

The Principles 360° Leaders Practice to Lead Across

Leading your peers is no simple task. It’s easy for an effective leader to lead followers, but leading across can be difficult—especially for highly productive people who might create feelings of jealousy or resentment among their peers. Effective 360° leaders give their colleagues reasons to respect and follow them. Because they lead across successfully, they are able to assist the people beside them, profit the organization, and advance themselves.

Understand, Practice and Complete the Leadership Loop.

Leading peers is not a one-time event. It’s an ongoing process. When leading across, the temptation is to try to take the lead too quickly. Taking shortcuts or cheating the process will erode your respect from others rather than gaining influence with them.

The Leadership Loop

Caring – Take an interest in people. People always move toward anyone who increases them and away from anyone who decreases them.

Learning – Get to know people Invest the time to understand the values that motivate your fellow leaders.

Appreciating – Respect people Find and encourage the strengths unique to each of your colleagues. Assume they have your best interests in mind, and be open to their ideas and concerns.

Contributing – Add value to people Few activities add to a leader’s credibility like the dedication to add value to the people around them – especially when the leader is neither obligated to add value nor receiving direct benefit from doing it. Adding value to peers lets them know that you are on their side and are cheering for them to win.

Verbalizing – Affirm people To affirm signifies to make firm. An affirmation is a statement of truth you make firm by repetition. Affirmations enable others to believe in their dreams. For people to reach their potential, their dreams must become more real than their doubts.

Leading – Influence people Understand, enlarge, and empower those who are leading beside you.

Succeeding – Win with People When you succeed with people, you gain opportunities to influence even more people. The leadership loop completes a cycle and begins anew. As additional people enter your life, you must again choose to take an interest in them, get to know them, etc.

© Copyright CreateOne Pty Ltd. 2008

www.createone.com.au


Click here to find more from John C. Maxwell

Filed under: Articles — Tags: , , , — Selina Lai @ 10:48 am