I’ve read Robert Kiyosaki’s book Retire Young Retire Rich, a present from Jaslinah to my wife during our JABS seminar. A very good book for those who would like to quit from the makan gaji and move on into entrepreneurship. Whether you want to become a Unit Trust Consultant, Insurance/Takaful Agent or other Network Marketing business, it does not matter. What is important is the experience that you will go through doing your own business. The good thing about joining the business above is that they will give you the time as long as you wish and the capital required to join is usually very low and sometime it is even FREE like our unit trust company. Therefore the risks are minimal or close to ZERO.

The difference between earned income and passive income is that:

Earned Income

1. active income which mean you have to be present doing the job
2. you work you get pay. No work no pay
3. you get paid only once

Passive Income

1. income that you will get even when you are not there
2. no work still get paid
3. you work hard in the beginning and get paid over and over

If you are given a chance assuming everything being equal. Let say you are fresh graduate. You have been given RM2000 per month enough for your food etc for 12 months. If you go for earned income, you work for corporate with RM2000 per month. At the end of month 12, your income will be RM2000 per month.

Now if you choose to build your passive income, let say you join unit trust industry. Your first 3 month income is about RM2000. This is still the earned income. But for the next three months your income will be RM2000 (your active income) plus with RM500 (your passive income based on your own sales as well as your downline sales). To cut short the process your passive income will grow exponentially over the time. Therefore ultimately the percentage of your passive income will surpass your active income to the extent of 90:10 ratio. That is why you see many of senior unit trust consultants or senior takaful agents or senior MLMers are not in desperate to find new clients as well as new agents.

Imagine the CEO salary of RM70,000, if they quit or retired, they won’t get that RM70,000 over and over. But for unit trust consulants that have created many group agency managers, they will still received the money from the group sales even if they only produce minimum quota requirement. So that is a huge difference. Furthermore, the income can be inherited to your beneficiaries.

Thus, we encourage you all to start thinking of building your own PASSIVE income rather than other people passive income. You must aware that we are moving from industrial age to information age very rapidly. So does our thinking. If our thinking is still in the industrial age and don’t want to change, we will be lacking far behind. This era is the era of entrepreneur or home-based business, where you see many people started to build their own business from the back of their house or domitory.

Every Saturday 11am to 12pm (about an hour) we conduct a FREE seminar on how you can switch from employee to small business mindset and further to big business mindset. Contact Biela 019-2260335 or register at www.myunittrust.com/seminar

Today we have attended the short seminar on building highly successful agency by Wong Kian Meng in Public Mutual Cheras. He is very generous in sharing his experience building more than 1000 downlines. He joined Public Mutual in 1993. All is started with ONE. Our group that attended the seminar are Arif, Nazri, Intan, Jaslinah, Farah & Baila.

One of the most important lesson I’ve learned is; success is not a straight line. There will be ups and downs just like stock market chart. It is OK. We are human and have emotions. But don’t forget to keep going. Istiqamah.

I think it is worth it, we have cancelled our weekly brainstorming to attend Wong Kian Meng seminar. He shows how we too can build a massive agency.

1. IC for EPF submission - kena cross the IC with “for EPF use only” with effect 15 Jul 08
2. Training - to bring registration receipt during the training day at the training room as evidence due to cases where agent just walk-in and enter the training room
3. Promotion to AS, AM & GAM - compulsory training to attend before 23rd of the month for next month promotion, else you will be promoted the next two months
4. EPF promotion at Selayang - stop booth opening, instruction from PM as they are instructed bt EPF
5. EPF Maluri - Jas will re-imburse those yang dah bayar
6. Market Analysis - Malaysian market still weak due to politics instability
7. Market Analysis - US mortgage, loan problems, oil prices another record high
8. How to reduce oil price - orang tak guna minyak, US economy to recover
9. Oil issue - Malaysia increase price. Fiscal policy - windfall tax on IPP, CPO, oil & gas this year. IPP issues bond to expand previously (5 to 10 years ago). They had never think of windfall tax. So some IPP cannot pay coupon (interest) to bond buyers. Thus some people asking government to revise the windall tax.
10. Malaysian PM’s Transition - good for long term but less impact on short term
11. JABS seminar (a special seminar to assist unit trust consultants to succeed) on 17 & 18 Jul 08- 3 prongs approach: belief system, buddy system, new marketing tools, cash sales testimonial, 50 AMs roadmap and its details and sharing experience by Azizah Saad (power booster) and Stanley (cold canvassing)

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Arif is running a weekly Saturday (11:00am-12:30pm) FREE seminar on How & Why We Want You to be an Entrepreneur specifically Unit Trust Consultants which include comparison of unit trust companies in Malaysia. It is good for you to know the unit trust industry before you join any company as an agent. We limit each seminar for 10 participants only as there will be many questions from participants to be answered in a limited time. Kalau tuan/puan/cik nak hadir, daftarlah SEKARANG di http://seminar.myunittrust.com

Interim Notes:

1. This weekend activities 12-Jul-08:
   1. 9-11am: Jump Start Now (for newly-passed agent)
   2. 11am-1230pm: Seminar Unit Trust (BOP) - to bring as many people as you wish that are interested to build their own business/consultant
   3. 2pm-5pm: Special Training for all our agents on How to Propose a Financial Plan to our prospects and clients
2. JABS on 17 & 18 Jul 2008 (a 2-day seminar to help boost our sales and motivation) - confirm with Biela and Farehin by 9-Jul-08. RM50/pax.
3. FREE Investment Seminar on Market Outlook at Hotel Sri Petaling, KL on 26-Jun-08
4. To attend Short Seminar by Wong Kian Meng on 7 Steps of Building Successful Agency on 21-Jul-08 9:30am to 11:30 am. RM10/pax. Book dgn Biela 019-2260335
5. New pamphlete Failaka Award, best fund in Asia is now available at the branch.
6. Promote Direct Debit Instruction (DDI) Case. Target 1 DDI/day. In a month you will get 20 DDI cases. Assume per case is RM200.
7. Market Analysis - Fundamental & Technical. PE ratio in 1997 was 44 X but now PE ratio is 11 X. So it is a discount for investor to buy. The KLCI was 268 in 1997 and 1134 now as of 4-Jul-08. This means that even though th KLCI is still high, the PE ration is far lower than that in 1997. So what? Don’t panic.
8. Market Analysis - Down? Why - 3 factors: 1. politics 2. oil price 3.weaker external environment
9. Market Analysis - USD weaken, inflation up. Thus Federal Reserves to stop reducing interest rate to improve USD
10. Market Analysis - China. What’s happening? Affected by US economy. In mid-to-long term, China is OK. Why - Savings is high, domestic demand is huge, they buy house with cash etc..
11. Market Analysis - Malaysia and Asia. Compare 97/98 and 2008. Read Starbiz Sat 5 Jul 2008. Situation now is different. Another Asia currency crisis is unlikely.
    1. 97/98 - property market buble, banks fragile,
    2. 2008 - ada large amount of Foreign Reserve

Congratulations to all our unit trust agents that have achieved the top ten producer of the month. Together we build the group.

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Arif is running a weekly Saturday (11:00am-12:30pm) FREE seminar on How & Why We Want You to be a Unit Trust Consultants which include comparison of unit trust companies in Malaysia. It is good for you to know the unit trust industry before you join any company as an agent. We limit each seminar for 10 participants only as there will be many questions from participants to be answered in a limited time. Kalau tuan/puan/cik nak hadir, daftarlah SEKARANG di http://seminar.myunittrust.com