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5 Things The Richest Man In Asia, Li Ka-Shings, Wants Young Entrepreneurs To Know

5 Things The Richest Man In Asia, Li Ka-Shings, Wants Young Entrepreneurs To Know

In this age of information, young entrepreneurs are flooded with tips on how to be successful.  Wondering how to evaluate the quality of the advice you receive?  The best source remains from the horse’s mouth; that is, those who have gone before, and achieved the success that you wish to.

If your ambition is to achieve financial success, you will do no better than heeding the teachings of Asia’s Li Ka-Shings, the richest man on the continent.

Ka-Shings left school at age 12 to work as an apprentice in a watch-strap company, and by age 14 was working full-time in the plastics industry to help support his family.  In 1950 he went into business for himself manufacturing toys and other plastic items.  Today, he is the richest man in Asia, with nearly 300,000 employees around the globe.

While his accomplishments are staggering, in an editorial piece recently translated into English Ka-Shings offers a few pieces of foundational advice that can help entrepreneurs at any stage:

Buy lunch for those more important than you.

Ka-Shings recommends treating influential people, those who mentor you, and those who have helped you to a meal once a month.

The cost, he attests, will soon be returned in the benefit in status, reputation, and opportunity that a young entrepreneur receives in return.

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Is a regular meal out of your budget, or out of your networking reach at this moment in time?  Try to set up coffees, or send handwritten notes to those you wish to further connect with.

Over time, the lunches will come.

Study.

“Become a bookworm,” Ka-Shings says, and encourages entrepreneurs to study voraciously.

Once you have taken in the knowledge offered by a text, take time to translate the information into your own words and apply it to your own experiences.

Not sure where to begin?  Search around for a business owners club or book group with a similar focus to help you stay on track and share ideas.

As your income grows, set aside a proportional amount for continued education in the form of courses and conferences; such pursuits not only increase your knowledge base, but also expand your network.

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Learn the art of the sale.

At their foundation, all entrepreneurs are salespeople, affirms Ka-Shings.

Therefore, you must learn to become a savvy, focused salesperson for your brand or service.

Lacking in experience?

Get a part time retail job, or work in retail during a peak season to get a taste of selling.  Learn and observe both what works, and what doesn’t.

Having trouble finding a good experience?

Network marketing is a growing industry that relies on an individual’s ability to close the deal even more than traditional retail; find something you like and sell, baby, sell!

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Plan.

Life, says Ka-Shings, can be planned, from wealth to relationships to business.

He says that in particular, an entrepreneur should focus on and give to others in the early stages of their career, and focus on themselves once they’ve “made it.”

The proverbial pavement must be pounded until achievements are reached; then, one can relax.

Many, he notes, have this backward – they hunker at home or in offices rather than focusing on building relationships with people, hoping to have time for others “later,” not realizing that others are the key to their success now.

Live in a disciplined manner, appreciating each cycle.

There is no shame, muses Ka-Shings, in being young – entrepreneurs are young and poor and working at some point in their lives, and that is as it should be.

Embrace it.

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Likewise, once success is obtained, embrace the stature you have earned and enjoy the opportunity to bask in it.

Bask quietly, however, so as not to be inappropriate.

In a more modern sense, Ka-Shings is speaking to the need to be fully engaged in and enjoy the present moment, and to realize the value of balance.

He is a strong advocate of travel as a way both to increase professional knowledge and experience and gain much-needed rest from work, the requirement for the retainment of passion.

As with everything else, travel on a dime when you are starting out, and on a more lavish budget as your stature improves.

Ready to pursue Ka-Shing’s advice?

Start by checking out these 20 Must-Read Books for Young Entrepreneurs.

Featured photo credit: taxrebate.org.uk via flickr.com

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Last Updated on June 19, 2019

8 Life-Changing Skills You Can Learn in Less Than 6 Months

8 Life-Changing Skills You Can Learn in Less Than 6 Months

Everyone has the ability to learn a life-changing skill not just this year, but in the next 6 months.

By life-changing, I mean something that can have a positive impact in your life moving forward, even if it’s something you can’t envision today. Certain skills we can immediately reap the benefits of, while others will be life-changing when we least expect it.

In this article, we’ll share 8 life-changing skills you can learn in 6 months, where you can learn them, and how you can get started today.

1. Speed reading

Bill Gates has been known to state that if he had one superpower, it would be the ability to read faster. What Bill and the rest of the mega-successful understand is that knowledge is power. The ability to process information faster from books, articles, and reports is what will help us learn faster, and therefore improve each aspect of our life faster as well.

Where you can start learning: Speed reading courses are becoming more popular, as more people realize how important it is with the limited time we have. You can check out free courses like Read Speeder or you can start learning how to use Spritzlet, which allows you to speed read articles online with a browser extension.

2. Public speaking

Research shows that people fear public speaking more than death itself. There’s something terrifying about being in front of dozens or hundreds of people, and exposing yourself completely. It’s when you’re most vulnerable, but learning how to public speak is a life-changer.

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Warren Buffett has given advice to recent graduates that the number one skill you can have to succeed is public speaking skills. Everything from communication, confidence, and sales is developed when you develop your public speaking skills.

Where you can start learning: Luckily, there are great communities out there like Toastmasters that organize local meetups all around the world. You’ll find amazing public speakers that are looking to get to the next level to beginners that are just getting started. Check out Toastmasters’ website here.

3. Spanish

As the third most spoken language in the world, the ability to speak Spanish will allow you to reach over 500M people around the world. No matter where you live, knowing how to speak Spanish is becoming increasingly more important, with the Hispanic population and economy spreading quickly worldwide. If you’re living in the US, this is even more important, with over 30% of the population being Hispanic.

Spanish is also on this list, because it’s one of the easiest languages to learn. Sure, Mandarin is an important language to learn, but it’s an incredibly difficult one to learn. If we were to measure the level of importance and the time to learn for all the languages available, Spanish would make it to the top of the list.

One of the biggest reasons why people never reach fluency in any foreign language is: using the wrong method, and lack of time.

It turns out that humans retain only 5% of what we learn from lectures, 20% of what we learn from apps (visual cues), and 90% of what we learn from immediate immersion. Yet, how do 90% of learn a new foreign language? Language schools (lectures), books, Duolingo (apps), etc that don’t provide the real-life immersion required for our brains to learn faster.

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Where to get started: If you want the most effective way to learn a language, learning from real-life interactions is the best way to do it. There are great websites like Rype, which offers Spanish coaching for busy people, solving the issue of lack of time and bringing real-life immersion to your screen. With Rype, you can book as many lessons as you want, at any time of the day, any day of the week, allowing you to fit it into your schedule, no matter how busy you are.

4. Accounting

If you’re looking to get into business, accounting is one of the core fundamentals you’ll need to succeed. While you don’t need to be an expert, you definitely should understand the basics.

This skill can also be used to manage your personal finances, to meet your financial goals, and having more control over your life.

Where to get started learning: If you didn’t learn accounting in school, no worries. You can either teach yourself using books, or check out free accounting courses online.

5. Microsoft Excel

Most people reading this probably have a basic understanding of Microsoft Excel Spreadsheet. While this is a good start, there are so many powerful functionalities that are hidden, which could make your life a lot easier.

Excel is also a great asset to have whenever you’re looking for a job, as many corporations rely on Excel to organize and manage multiple parts of the business.

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Where to get started learning: With the popularity of Excel, you can find tons of free resources and videos online to learn. Check out Excel Exposure, Lynda, and Excel with Business.

6. Blogging/Vlogging

Blogging is a powerful tool if you want to spread your ideas, build your brand, or grow your business. Since it was introduced, blogging has taken on a life of its own, and today there are ~2M blog posts being written on a daily basis.

Where to get started learning: Anyone can start blogging today. All you need is a content-management system like WordPress, which is completely free. Personally, I think the best way to start learning how to blog is to just start writing. There are techniques you can learn on how to promote your blog, but the best way to grow your blog is to write great content.

7. Weight training

Yes, weight training is a skill. It’s not as advanced as learning how to code, nor will it take as long as learning a new language, if you just want to learn the basics.

We’re not promising that you’ll get a body like Arnold Schwarzenegger, but you will see much faster results for whatever goal you have, just by understanding how to workout properly. And of course, when you’re dealing with an activity that involves physical strain, you’ll always want to caution yourself.

Where to get started learning: There are amazing body builders that are sharing all of their secrets for free on Youtube. You can check out Bodybuilding.com’s Youtube channel to get started.

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8. Photo and video editing

In the digital world that we live in, from Youtube, Instagram, and Facebook, there is no avoiding photos and videos. In fact, social media has increasingly gone away from text sharing and almost everything to photo and video editing.

Where to get started learning: For photo editing, you can use Photoshop. For video editing, you can use iMovie or Final Cut Pro. Keep in mind, there are dozens of editing software tools for video and photo editing, but what’s more important are your editing skills, not the tool itself.

Check out education websites like CreativeLIVE or Skillshare, where you can learn from experts themselves on how to best use design and software tools.

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