One of the best investments you can make is knowledge. By picking up some books you can change your life like never before. Therefore making reading as part of your habit is very important.

I’d like to share with you here some of the books that have played a role in shaping my thinking and ultimately have changed my life forever.

1. How to win friends and influence people. (or direct link) By Dale Carnegie. In fact, get your hand on as many books as possible by Dale, they are gems.
2. The 4-hour work week. (or direct link) By Timothy Ferriss.
3. Rich dad poor dad. (or direct link) By Robert Kiyosaki. The best from Robert. However I notice subsequent books by the same author have deteriorated in quality over the years.
4. The secret of selling anything. By Harry Browne. Despite the low price, it’s the best book I have ever read about selling.
5. The power of focus. (or direct link) By Jack Canfield, Mark Victor Hansen, and Les Hewitt.
6. Now, discover your strengths. (or direct link) By Marcus Buckingham and Donald O. Clifton.
7. A technique for producing ideas. (or direct link) By James Webb Young.
8. Secrets of power persuasion for salespeople. (or direct link) By Roger Dawson. Not only for salespeople but for everyone who needs to get something for something. Powerful techniques are found in this book.

The list by no means ends here. Feel free to explore other books while you read the titles above. Who knows you might discover other powerful books as well.

Happy reading!

It’s very obvious. There’s a common trend emerging.

From my experience in coaching and talking to others, I can see very clearly why people fail online. To sum it up, there are not more than three core reasons.

You take charge of everything within your control and make sure that you are on track to achieving your goals. You know that you have to give yourself enough time to try out something and you don’t give up prematurely. If you have found something that works for you, duplicate what you have done and double your success.

2) Action. Many people dream of being their own boss and just that… they dream. They don’t take concrete action to make their dream come true. They fail to follow through a plan that brings them from where they are now to where they want to be. They give themselves excuses that are longer than shopping list – for not doing anything. They wait for the “best” time to create a website, develop a product, or write a marketing campaign. However, it seems that the day never comes. They say they don’t have time for their business because they have a job to do, a wife to take care of, children to play with, and a dog to feed.

They fail to realize that achieving a dream requires action. Only actions bring results. Find and allocate a time slot everyday to work on your online business. Move toward to your goal of being your own boss by taking action, right now right here. This is a phrase I like: When something gets done, even if it’s not successful, is more valuable than something that is not done.

3) Focus. This is very common in Internet business. One day you follow this fail-proof strategy by Guru A. The next day, you dump what guru A teaches and listen to Guru B with his latest discovery. One good thing about the Internet is its flexibility. It’s not as rigid as brick and mortar business. With online business, you can switch business model as often as you like. You can start a new website in just a few minutes. But there’s a flip side to it. Flexibility is a double-edged sword. If you don’t use it to your advantage, you’ll find yourself end up with too many websites that don’t generate income.

If you want to succeed online, pick one model or better still choose one profitable market and reach out to them in many different ways. Stick to it until you succeed. Create add-on products to sell to the same market until you dominate the market. Don’t swing from one model to another without really trying. If you do this, be prepared to face more failure. Focus on one thing until you make it. Stop blindly following the latest product launches because they do more harm than good to you. They distract you from your original plan.

As you read this, did you realize that I do not include “how-to” as one of the reasons of failure? Because technical knowledge is aplenty and it has nothing to do with why people can’t make it. If you need help in choosing a market or any other topic, just do a search in Google and you are good to go. Or go to an Internet marketing forum and post your question. I believe many are willing to help you there. Better still, in order to save time, you can grab a copy of the book from Clickbank Marketplace if your budget allows and that’s all you need.

But all the information you have will not do you any good if you don’t put it to use. Why? See Reason #2 above. Everything that prevents you from succeeding online can be boiled down to three main core reasons. If you can overcome these hurdles, the odds are in your favor.

No doubt, The Secret – book and DVD – has recently created a big buzz online and off.

(If you don’t know what I am talking about, you’d probably live in the cave for too long. Just kidding.)

I call it piggyback marketing. Rhonda is smart. Product aside, it’s a true marketing genius in action. The result speaks for itself.

But whether or not what the author says works, is another story. I personally don’t think that it is as simple as putting your thoughts to the universe to get what you want.

Here are the 6 reasons why The Secret doesn’t work:

1) If what you put out to the universe is not aligned with your higher purpose/destiny, no matter how hard you try, it won’t manifest in your life.

2) It works only for people who are willing to take action — persistently. It’s not for dreamers.

3) If what you focus on is not part of your talent or strength, it’s not going to work for you well. The result: It’s a mismatch of goal and talent.

4) If timing is not right for what you want to attract into your life. It will never come, regardless of how hard you work. Trust me!

5) It will not work if you work with the wrong people. No man is an island and if your partners, workers, suppliers and customers are not the right ones, you’ll doom to fail.

6) If you’re in the wrong vocation/industry, it will not work.

I don’t know why but there are NOT many people talking why Law of Attraction will not work for every situation and everybody – including those who practice it!

It sounds pessimistic but it’s true.

Let me give you one example. A real example that is enough to illustrate my point. It’s about our home grown squash queen, Nicol David. Here’s the snapshot:

Her Australian coach, Liz Irving, believes that it is Nicol’s destiny to dominate world squash (See my Points #1 and #6 above).

This is what I like about what she said about Nicol:

• “Nicol does not rely on her speed for her strength. It’s just a back-up. A lot of people are trying to improve their speed because of Nicol,” Irving said.

• But you can’t because it’s natural for her (See my Point #3 above). It’s not natural for many of the other girls. Natalie and Rachael have always been quick, that is really not going to change either. They are not going to get any quicker.

• It’s natural, it’s either you have speed or you don’t. If you have speed, you can work on it and be strong at it.

• There are a lot of big strong girls on the circuit. But they are not going to be as quick as Nicol because they are not in that build.

Now, let me ask you one question. Do you think ANYONE (I mean just anyone) can use Law of Attraction to beat Nicol David and become world champion?

You bet. Not even her closest opponents (Natalie and Rachael) could achieve this! Let alone “normal” people like you and me.

It’s the same scenario for Tiger Woods. If you’re not cut out to be a golf pro, no amount of visualization can help you achieve this.

You see my point? Good.

Law of Attraction does not work – if you fail my 6-point test.

But what can you do NOW? Know yourself well and do what makes you tick. Focus on your talents and strengths. You’ll become unbeatable. In short, know your path and do your best to follow the path.

One last thing. Here’s an interesting story about Emily Yoffe. She followed the secret in The Secret for two months to see how it worked for her.

When I first watched American Inventor, I thought to myself, “Yet another reality TV…” I was not impressed.

I was glued to the show, one of the few that can have that impact on me.

(I have to confess that I am not a TV addict though)

But if you haven’t watched the show, this is what it’s all about:

The “inventors” need to do a presentation on their invention in front of the judges (4 of them from different backgrounds). At the end of the presentation, the judges will either say “Yes” or “No” to the invention.

They compete with each other to proceed to the next stage.

Of course, as you may have guessed, more “No’s” than “Yeses.”

Some inventions are damn funny and creative. Imagine one fellow invented a mobile toilet. It looks exactly like a raincoat and you can bring it along and do your business wherever you go. Yuchs!

And the prize money is one million dollars.

But I digress…back to the point I wanted to share with you.

The thing that attracted me was the spirit shown by the participants.

Each and every one of them is VERY convinced that they have the invention of the year.

They sacrificed many things in order to create the invention and participate in the show.

Most of them sacrificed more than one thing for their dream.

It’s always a touching moment for me when the judges asked them what inspired them to invent and what sacrifices they have made to come to this far.

You name it: money (most of them broke), time (most of the spent years to perfect the invention), family, marriage and one of them even sacrificed his kidney!

Throughout the years, I’ve met people who told me they wanted to be successful. But when they need to really get their hands dirty, they either give up (stay status quo) or give excuses.

Out of a sudden, everything seems to be more than their dream. They use thousands of excuses to convince themselves that they can’t do it.

Of course, it’s not easy to get out of our comfort zone unless you have an undying desire. Just like what the American Inventor participants have.

What about you?

Ask yourself this, “What have I done to achieve my dream? Have I done enough?”

Have fun,

Abel Cheng

P.S.: This is one of the top 30 inventions from American Inventor currently on sale.

From tender age, we were exposed to myths about money and myths of being rich. Be it from our parents, brothers, sisters, relatives, or friends. The myths that we have determine our financial well being in our adult lives.

We can’t blame our parents for the myths in us. They already gave us the best they could. And don’t forget that times change. Things were true then may not be true today.

If you want to move ahead financially, you have to be aware of the myths that you have about wealth and money. And do not let the myths stop you from living a wealthy life.

Money Myth 1: Work hard and you’ll be rich.
Many of us think that by having a job with a big company would ensure that we’re on the path to financial freedom. With so many layoff announcements, we might be out of job anytime. I’m not saying that you’d be one of them but the fact is there is no job that is guaranteed.

Recently, my friend was laid off in less than a month in his new job. Having a job is merely helping you to cope with daily expenses, providing you shelter, food and clothing. Do not be misled that a job or your employer will turn you into a rich and wealthy person. No one cares more than you about your wealth.

Money Myth 2: Saving is good.
When I was small, I was told by my mother that I must learn to save. I thank my mother for inculcating the habit of saving in me. The habit of saving helps me to develop discipline. Many people think that when they save enough, one fine day they’ll be rich.

But is saving alone enough to make you wealthy?

I came to realize that if I only depend on my savings to get rich, I’d have to wait for a long time. That’s the problem with savings, it takes a long time for you to get rich. Saving alone is not enough. You have to learn to invest your money in other investment vehicles to grow your money faster.

Money Myth 3: Debt is evil.
The other common myth about money is debt is bad. Did your parents ever tell you that borrowing was bad? Mine did. Not all debt is bad, actually. It depends on how you spend your loans that you’re getting. If you take a credit card loan to buy a flat plasma TV, it’s a bad debt. On the other hand, if you take loans to start a business or invest in real estate, the debt is good.

If debt is bad, can you imagine what would happen to companies if they are not allowed to take loans from the banks? As a general rule, if you use debts to buy things that increase in value over time, they are good debts. You must know whether the debt you’re taking is good or bad.

Money Myth 4: You need money to make money.
When I ask my friends what’s stopping them from starting their own business, the common answer is “I don’t have money. And it takes money to make money.” I do agree that it takes money to make money. But does it really to be your own money?

Everybody has limited resources when it comes to achieving our financial goals. I do not expect you to have everything when you plan to build your own business. You might need financial backing, manpower, expertise, or a coach to guide you. If you lack resources in any areas, find the resources. Someone else will definitely have it. It does take money to make money, but you can use OPM – other people’s money.

Money Myth 5: Investing is risky.
Many think that investing is risky because they lack education in investing. Investing itself is not risky if you know how to control the risks. Most of us invest based on a tip from a friend or broker without doing our own research. When you lose money, you say that investing is risky. And you tell yourself that you’ll never invest again. To be frank, everything we do has a risk in it. Learn to manage risks by educating yourself. You can educate yourself by attending seminars, reading books, or even from the Internet.

Money Myth 6: Wealth reflects in material possessions.
Material possessions reflect your level of wealth. This is a misleading measurement. Someone who is driving a Porsche might not be rich and he might highly in debt.

Wealth does not reflect in material possessions. Wealth is a state of mind. Wealth is how fast you can become rich if you’re stripped of everything. As Henry Ford once said after he was asked what he would do if he lost all his fortunes, “I’ll become a millionaire again within five years.”

We possess one or more of the above myths, consciously or unconsciously. But what is more important is to be aware of the myths and replace the myths with facts. By doing this will tremendously improve your financial well being.