THE PROCESS OF CREATING WEALTH

CREATING wealth is like making a road trip. Let’s say you want to get to Singapore from Kuala Lumpur. There are several ways you can do this: train, bus, walking, flying, etc. All of these mediums of transport are able to get you to your destination. Some will be faster than others while having their own pros and cons.

Similarly, most people look for that one magic formula for creating wealth, but the truth is that there is more than one road you can take and still end up getting wealthy. Each path has obstacles and not all paths are for everyone, but what’s important is that you have the luxury of choice. I’ll be putting the spotlight on some of these choices below.

Many Ways for Building Up Wealth

You can buy properties into the millionaire clubs, you can become an entrepreneur by starting up a business, you can even marry rich, and there are investors who build wealth through stocks accumulation.

Yes, you heard right! Marrying someone rich and inheriting their wealth can also make you rich! There is no law that says you can’t, but there is a problem. The rich make up only 5 per cent of the population, so catching one is pretty difficult. And if you’re a female, you have to be attractive. Yeah, the reality is harsh! In fact, there is a Chinese firm that teaches young girls how to attract rich guys. However, if that’s not your forte, then there are always better alternatives.

When you just look at the surface, you see on any others making it rich. They made it through one of the ways mentioned above. But what you see is just the “surface”. They drive nice cars. They live in big bungalows. They go for exotic vacations. But do you ever wonder what’s happening in the “black box”?

Often enough, ordinary people ignore the process because you only see the result.

Process VS Event

With all of the ways mentioned above, you have to take into account that they are all lengthy processes. Yes, it’s a PROCESS! You can’t do it overnight. It takes a lot of hard work, calculated risks, and most of all, sacrifices. Only after you have expended a lot of effort, time and capital, and have persevered through it all, you will see results.

Most of us have an Achilles’ heel and that often becomes the undoing of all our hard work! Our fundamental flaw is that we often choose to see the EVENT. An Event is when you see that someone bought a Jaguar, a bungalow, or is retiring early, etc. You have to remember that is the result of THEIR Process.

Therefore, to succeed in whatever path you choose, it is important to understand the difference between Process and Event. You know that striking a lottery to get rich is NOT a realistic way of building wealth. Even in the stock market, some people invest based on speculation or rumours and that simply won’t cut it! The bottom line is, without a Process you cannot have an Event, which, in this case, is your wealth.

Work on your PROCESS!

The reality is that there is no easy way to wealth, even if that’s marrying someone rich! That’s because even if you want to marry a rich person, you have to have that level of network, elegance and attitude to make it.

Although it looks cool on television, but you can’t fraud or con your way into marrying someone rich, because sooner or later, you’ll be caught!

Therefore, working on the PROCESS is your BEST shot! Yes, it is tough but you need to make the conscious choice. Do you want to live from paycheck to paycheck or do you want REAL success? So don’t settle for comfort, push for progress!

In the end, YOU are the only obstacle to your OWN success. I wish it were possible, but you cannot outsource your ROLE to becoming wealthy.

Most people believe that hiring a financial planner will automatically make you rich! The truth is, he cannot help you become rich because that’s not his duty. In most cases, the planners don’t actually know how!

Take for example Tan Sri Teh Hong Piow, one of Malaysia’s wealthiest businessmen who is currently worth USD4.7 billion (RM21 billion). He founded our Public Bank, which has been profitable since its inception in 1966. What most people don’t know is that he started as a bank clerk in 1950 before becoming a billionaire. In the process of making himself billions, he has helped a lot of people become millionaires. His philosophy is to persevere and work hard to do well at whatever you set your mind to. He also believes that you should always go above and beyond what is expected of you - in short, be unexpected!

Only by persevering against all odds was he able to build Public Bank to where it is today! This Process took him decades, and even now, he is still active in Public Bank’s management. Even though he has reached his EVENT, which is his billionaire status, he is still hard at work to push for more progress in his organisation. He could have chosen comfort now that he’s reached his Event, but he didn’t. He is still laser-focused and pouring his heart into building the banking business and therefore, nothing else is stopping him from keeping on building his wealth.

So remember this: when you don’t see the desired EVENT happening, it means you need to work harder on the PROCESS!