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Copyright: Wei Liang Published: July 2018 Publisher: Wei Liang The right of Wei Liang to be identified as authors of this Work has been asserted in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, copied in any form or by any means, electronic, mechanical, photocopying, recording or otherwise transmitted without written permission permi ssion from the publisher. You may not circulate circ ulate this book in any format.
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CONTENTS Author’s Author ’s Biography : Wei Liang................................. Liang.................... .......................... .......................... ..................... ........3 Preface, By Wei Liang................................................................................. 4 Chapter 1 : Which Elevator will you get on?............................................... 5 Chapter 2 : Getting on the “Up” Elevator Through the Financial Services Sector......................................................................... 9 Chapter 3: Keys to Successful Entrepreneurship.......................................... 12 Chapter 4: Is Working on Commission Risky?............................................. 13 Chapter 5: Can I Become a Successful Financial Advisor?........................... 16 Bonus Material.......................................................................................... 18
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Authors’ Biography Biography Wei Liang L iang Your Thought Shape Your Destiny! Chong W Wei ei Liang is a visionary business developer who has started his career in insurance since 2004. He had worked with families and professionals for the past 13 years in providing financial solutions to realize client’s client’s financial goals. His client always commend his quality of being a good listener, attentive to details and empathetic. His family was impoverished by a financial disaster when his father has been diagnosed with “sickness”. To To sustain the family family,, he worked on 3 different jobs daily,, being a financial service consultant, a Judo coach and also a salesman in the daily same time. He worked hard for the family but also struggled to work on his dreams. He like many people are stricken by life’s struggles and at the verge of giving up their dreams. In 2008, he attended a workshop where he was introduced to the “vision board”. The coach asked him to chart out his vision for the next 3 years in life and to send a letter to his future futur e self in 1 years’ time. With With the vision board, he is clear that career in insurance is what his desires and have focused on it ever since. At first, like many other start-up agents, he struggled to grow his pool of customers. He has learned much after trying various methods in cold calling, road sales, and door to door. Finally he found an effective method via referral. referr al. Through referral the agency has seen a rapid growth into a six figure agency and have impacted many junior managers and their teams. 3
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PREFACE BY WEI LIANG Have you ever been working day and night but feeling you are stuck and going nowhere?
I have been there too. 10 years ago I worked really hard to support my family’ss financial. I was hoping that I could turn our financial situation around family’ by working hard. I used to think that the more I’ve worked, the more I will earn. However,, I could hardly save up to anything. Most of my income are to finance However my car loan, insurance and my family expenses. At the end I couldn’t even afford to own a property. Deep down my heart, I’m aware of the things I didn’t wanted. I do not want to work just to meet the month’ month’ss end. Instead of spending time with my beloved family,, I’ve worked additional jobs. Most of all, I do not want to be a visionless family and fearful person. Many people paralyzed by fear at the mere thought of being an entrepreneur, just as I did before. Therefore I like to share my experience through this book, and I hope this will be helpful for you, if you are moving into a career in finance. Within Wit hin this book you will learn about: 1.Market segmentation 2.Mentality for success 3.The pros and cons of a day job versus business and commission based business 4.Answers for your common concerns
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Chapter 1: Which Elevator Will You Get On? We’ve all had the experience of waiting for an elevator and having two doors open simultaneously,, which momentarily confuses us as we try to decide which door to simultaneously walk through. When we look up and see the arrow indicating the direction of each elevator, it makes it much easier for us to choose the correct entrance, depending on whether we are going up or down. It’s funny, funny, isn’t it, how we still sometimes hesitate when those two open doors, even though we knew which direction we intended to go in well before the doors opened simultaneously? There’s nothing funny about going down when you want to go up, especially when it relates to your financial future. Yet, that is precisely what
is happening to most people around the world today.
The Pareto Principle and Malaysia When the well-known Pareto Principle—80% of the wealth is controlled by 20% of the population—begins to impact your yo ur career in a big way way,, it moves from abstract concept to harsh reality reality.. And considering that Malaysia has the greatest income inequality among democratic, capitalistic countries, that 80-20 principle is probably an underestimate of the unequal distribution of wealth in Malaysia.
So this is why we ask: which elevator will you get on? on ? The one that could lead to being in the top 20% of the 20% who control the bulk of the wealth, i.e., i.e., the 4% of Malaysia’s population that are multimillionaires? Or, the one that will continue to get a smaller and smaller portion at that table? 5
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Elevators A Contrast of Elevators Beyond fairly abstract numbers, think of the concrete differences between those who are traveling in the “Up” elevator and those plummeting in the “Down” elevator:
Financially secure and stress-free vs. living paycheck to paycheck with constant stress
A rewarding sense of accomplishment vs. an endless quest to climb a slippery company ladder
Plenty of time for family and friends vs. taking a second job and overtime to make ends meet
Able to impact society for good through financial clout vs. voiceless, impotent complaints about society
This list of contrasts could go on and on, but you get the picture of the groups in the two elevators. So which one do you want to walk into?
We’re Conditioned to Hop on the “Down” Elevator Perhaps you have not even thought about the fact that you choose which elevator you will enter every day, day, by your actions and inaction. Unfortunately Unfortun ately,, we have all been conditioned to think that it’s normal to ride on the “Down” elevator and that struggling financially is part of life.
This has resulted from the input of many sources, including our teachers. Robert Kiyosaki, the best-selling author of Rich Dad, Poor Dad , points out that our school system is designed to create good employees, not employers.
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“We go to school to learn to work hard for money. He said, “We money. I write books and create products that teach people how to have money work hard for them.” In other words, our schooling conditions us to naturally enter the “Down” elevator. elevator. W Wee don’t believe that everyone should simply file obediently into the “Down” elevator. W Wee think that in a free-market country country,, everyone should have the freedom
to design his or her own life rather than scrape by on meager wages, happy just to make ends meet.
Imagine that:
Money is not a stressful area in your life.
You are able to arrange your schedule around your children’ children’ss special events —
and never miss one!
You have have the freedom to play a round of golf each each week week to refresh your body
and soul, during normal (less-crowded) work hours.
You have the freedom to take a vacation vacation for as long as you like, not cut if off off
when a boss or company ordains that you have to return.
By taking just half an hour to read this book
, you guarantee guarantee yourself a spot on the “Up” elevator. What if you could burst out of the “Down” elevator and hop into the “Up” elevator? Would you do it? We thought so. 7
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What This Book Will Do For You Stay with us over the next several pages and you will learn the secret to changing which elevator you get on, and changing your life and the destiny of your family
as we reveal the keys to solid, consistent, liberating wealth creation. The two elevator doors have just opened in front of you. Which one will you choose?
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Chapter 2: Getting on the “Up” Elevator Through the Financial Services Sector As you move on to this second chapter, we are confident that you have chosen to ride in the elevator going up. This brief book will help you to get to where you want to go as you reach true financial freedom through working in the exciting financial services sector sector..
People who decide to become their own boss in the financial services sector find several benefits that go far beyond increased compensation. As As we’ve worked with entrepreneurs in this area for several years, they mention five huge benefits found in their new career:
A huge sense of fulfilment as they impact society through their newfound
wealth and ability to employ others. People’ People’ss lives are changed and there is no price tag to put on that. Both clients clients and family members will thank you for what what you do for them. A tremendous amount of pride pr ide and self-satisfaction as you reach r each your potential as a person, perhaps for the first time. As you make your living off of commissions and operate under a performance-based income, you might be surprised at how far you can push yourself and how much you can achieve.
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Relief as you control your own destiny in many ways, from being your own
boss to choosing your own clients. As you work in the financial services services sector, sector, you ultimately decide how much you earn, when and where you work and how long you really need for vacations and sick days. This self-direction does wonders for people’ss esteem. people’
A far better work-life balance as you are free to spend time with family and
friends because you decide your own hours. You You will never miss a child’s important event again because you can plan around his/her schedule. And, if you sense your family needs to get away—no problem, you are the boss and you can elect to go on a much-needed vacation. A new level of relaxation as recurring income is generated with time, meaning that you don’t have to continually beat the bushes for clients. This new serenity will impact your entire life and your relationships with others.
These benefits cannot be had when you work for others. Have you ever noticed that if you simply change a few letters, “salary” can be rendered as “slavery” That’s That’s no accident.
The fact is that if you are living on a salary as an employee, you are a slave to the system. And, And, if you respond with, “But I have security,” I think you understand by now that there is almost no job security anywhere in the world today. It doesn’t matter how hard you work, how much your boss likes you, how well the economy performs, you face an income cap due to the system. You also are just one brief notice of termination from financial devastation, and you have seen friends and
colleagues go through that. 10
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Attitude for a Changing A Changed Attitude Changing World World Lifetime employment and unquestionable job security are remnants from the past. The world has changed drastically in the past few decades, and you need to as well. The old saying, “If it’s meant to be, it’s up to me” has never been more true. If you are to achieve the financial freedom that you seek for f or you and your family family,, you will need to go out and grab it yourself. You You know this deep down, and that’ that’ss why you’re reading this book. Working in the financial services sector gives you the greatest opportunity to have the life you’ve always dreamed of.
Take a look at this table to understand the choice you face: Employees
Entrepreneurs
Are told what to do for 40+ years of their working life
Once trained, free to manage time as they see fit
Maximum earnings are dictated by others
No cap on earnings
Lifestyle ultimately determined by corporate bosses
Lifestyle a matter of own choice
Sens Se nsee of of ful fulfil filme ment nt lim limite ited d by by bos bosse sess
Unli Un limit mited ed se sens nsee of of ful fulfil filme ment nt an and d achievement, chance to realize full potential as a person
Often works with clients that are assigned to him
Chooses own clients
Now that you clearly see the numerous advantages of working as your own boss in the financial services sector sector,, let’s get into specifics about achieving success. What are the characteristics of entrepreneurs who achieve the lofty financial goals that they set?
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Chapter 3: Keys to Successful Entrepreneurship Why is it that some people get incredibly rich and lead amazing lifestyles while running their own businesses, and others struggle to grow their client list and have difficulty expanding their business? Over our years of study and observation while helping to launch people into entrepreneurship as financial consultants, here is what we’ve found to be the keys to success:
They have fantastic mentors who guide them about what they should and shouldn’t do They have carefully completed a comprehensive, proven training tr aining program They are surrounded by a strong team and positive culture that provides
abundant mental, physical and emotional support
How We Set You Up for Success We ensure that you will have all of these keys to success: Our mentors are the best of the best in the industry―more than willing to impart their extensive knowledge and experience to you, greatly reducing your learning curve. The average productivity in the industry is approximately $45K; our average is 3-5 times greater than that.
We have our own proprietary investment methodology and investment team, which helps our clients to build and increase their assets.
We work with external partners who are the best regional speakers/trainers in their field to organize seminars and events for leads generation—something that other firms don’t do. 12
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Chapter 4: Is Working on Commission Risky? As you’ve read about becoming a financial consultant, you have probably surmised that you will be working on commission. You You are correct. corr ect.
That doesn’t have to be frightening, however. In fact, it can be highly liberating as you realize that you will earn as much as you want to, in direct proportion to the effort that you expend.
The key to becoming financially independent as you work on commission is to have an arrangement with the parent company that is fair f air.. In that regard,
we are entirely trustworthy tru stworthy,, and you will discover that very quickly. quickly. In response to the idea that a commission earner operates under a high-risk arrangement while a salary earner faces only a low-risk future, consider carefully the following chart:
Career Investment-Risk-Return Matrix Investment
Risk
Return
Advisor/Representative
Low
Low-Med
High
Small Business
High
High
High
Franchise
High
Med-High
Med-High
Professional
High
Low-Med
Med-High
Employee
Low
Low-Med
Low-Med
(Source: Gama International) 13
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To explain this chart, realize that one way to view risk is to understand it in relation to how people pay you. Wage Wage earners fall into one of three categories when it comes to getting paid: business owners, employees and advisors. Think about how each of these groups of people receive compensation: Business owners often face a situation where they have 30 accounts, with a couple of them making up a huge slice of their revenue, often up to 80%. Think of what happens if one of those prominent accounts is lost: that is true risk!
Employees have only one account, of course: their employers. If the employer
fires the employee, he/she loses ALL of his/her accounts. Again, that is true risk.
Advisors, on the other hand, have hundreds of clients that compensate them. If
they lose a few from fro m time to time, the risk is absolutely minimal. There is almost no chance of losing all of one’ one’ss clients. This is far less risky.
The Investment Needed to Achieve Wealth Another way to understand how low risk being a financial advisor is, it can be helpful to reflect on how much of an investment is required to achieve considerable wealth. Think about how much these groups of people invest to make six-figure incomes:
Doctors and lawyers go to school for many years and pour tens of thousands of
dollars into their education, as well as paying for several examinations
Business owners often need a gigantic amount of capital to launch, at least in
the mid-five figures
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Now,, think about what will be needed to begin your new career as a financial Now advisor: at most, the cost of a license to do business.
And don’t forget— many many financial advisors make six-figure incomes within three to five years, with some reaching that figure sooner and others making
seven- and eight-figure incomes.
As you can see, the “risk” of being a financial advisor is almost nil. You You invest very little money, money, and the possible payoff is huge.
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Chapter 5: Can I Become a Successful Financial Advisor? Now that you understand what it takes takes to be a successful entrepreneur and and how launching out on your own is actually a low-risk move, you must decide for yourself whether becoming a financial advisor is right for you.
We want to give you a bit of input as you make that decision. From our years of working with all sorts of advisors, we have come up with a profile for a successful advisor.. If you can put a checkmark beside each of these attitudes, then you have advisor what it takes to become a financial advisor and lead the type of life that you’ve always dreamed of!
To succeed as an advisor, you should: Have the desire to help others.
Be a good listener and able to understand people’ people’ss problems. As Roy Bartell, a master salesman, has said, “Most people think ‘selling is the same as ‘talking,’
but the most successful salespeople know that listening is the most important part of their job.”
Want to work for yourself and be your own boss. Have the ability to build strong relationships as you establish excellent rapport with people. Enjoy going out and meeting new people as you network through social events.
So, do you have what it takes? Are Are you ready to get on the “Up” elevator? Let us guide you as you commence your lucrative new career as a financial advisor. You will never want to work for anyone else again. 16
s e h h c a o C C h o u ! h t t l a e k Y e W W k f i i l l o o s p e u e r o o o o r G e r H G H a a e S e p r u a a S n g W e o k i n L o
I WANT YOU!
TAKE CHARGE NOW Send your resume and cover letter to weiliang@teamunityadvisory weiliang@teamunit yadvisory.com .com
Richmond Wong Unit Manager Richmond started his insurance business back in 2004. Prior to this, he was a promoter selling home appliances in a shopping mall. After 3 years as a promoter, he realized that he can never make his dream comes true, the dream of travel around the world. After a year he embarked into insurance business, soon he completed the Registered Financial Planner(RFP) program as well, in order to equip himself with professional financial knowledge, to provide a better services to customers with their financial planning and risk management. In 2015, he founded his financial consultant firm, with the mission to cultivate and help talents to be successful in this industry, through providing the utmost professional and exceptional insurance services to clients. Nowadays, Richmond enjoy taking long holiday to travel around the world every year. He firmly believes that, hard work will only bring great success if through the right platform!
Gordon Ong Unit Manager Gordon Ong was an international i nternational judo player. At the age of 19 inspired by Chong wei liang , he embarked into the insurance industry. At the age of 24, he founded his own financial consultant firm. He aspired for wealth w ealth and soon to realize his dream to travel over 27 countries.
Jaden Ng Senior Financial Strategist Jaden Ng was an Ex-SUKMA volley ball captain. He was in the goldsmith business for 9 years. In 2011, he ventured the insurance business believing that it would change lives and able to aid many families and friends in time of need and provide them the financial knowledge. He urges his customers to understand their own policy because this is a very important matter. It turns out the insurance career is both meaningful and fulfilling. Jaden is a believer in positivity, understanding and action towards a goal. Insurance should be seen as an umbrella, you may not always need it until it rains. His consistency and good attitude brings him a lot of good comments from customers. He has earn 6 digits income in short period of time, rewards from company. Last but not least, He gain honor from company for sharing his experiences of this career. career.
Har Wai Meng Senior Financial Strategist Har Wai Meng graduated from University of Science Malaysia (USM) with a bachelor in applied chemistry. He also holds a master degree in business administration (MBA) from the university of Sunderland, UK. He joined the life insurance business in 2013. Prior to this, he was holding a position as project manager in a MNC. Since then, he achieves 4 times PWP qualification and 2 times Star Club qualifier. To date, he has accumulated about 400 clients from 100 families. Har Wai Meng's strength is to provide professional and exceptional insurance services, through need base analysis and recommendation. Nowadays, he enjoys spending almost a month traveling around the world every year. His life motto is: Everything is possible through persistence, hard work, and believe.
Jane T Teo eo Financial Strategist Jane Teo was a graduate from University of Nothern Malaysia(UUM) as a Bachelor’s Degree in International Business. She joined Prudential’s Team Unity Advisory as an internship, thus she gained a lot of precious knowledge and experiences from it. For instance, need based selling, calling skills, presentation and referral. After graduation, she went to Singapore and worked with well known international bank. With her strong foundation and courage, she had performed exceptionally well. She promoted to the position of Relationship Manager. Like many Malaysian, she worked hard in Singapore as she wanted to give the best to her family. However, is this the best choice? She realized that earning Singaporean Dollar is only a short-term achievement. Long lasting success can only be achieved by being a sole proprietor of a business, and therefore flexibility in time. She then returned to Penang and kick-started her business in financial service. She rejoined Team Unity Advisory, starting from zero. It was such a wonderful achievement that within 6 months she qualified and honoured with the Star Club Qualifier. Championing the first place for 2018 Rookie Leaderboard and was praised by many of her clients on her professional knowledge and services. Now she had begun to assemble and trains her own team. “No Guts No Glory! No Legend No Story!” that her motto.
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Bonus Material If you are still reading, chances are you are curious about this new career. So, to congratulate those (you of course) who took action in picking up and reading this book, we have a FANT FANTASTIC ASTIC gift for you. We are offering you a one-on-one career coaching session―FREE. You You will meet individually with our regional coach/trainer, who specialises in career coaching, at no cost to you. The session includes two personality, personality, value and strength (PVS) ( PVS) analyses to help you to evaluate your strengths and weaknesses. Research has shown that people progress faster in their careers if they understand their strengths and weaknesses. PVS and career coaching work hand in hand to help people accomplish more, advance faster, and not be stuck in areas where they can’t add a lot of value. Without this insight, performance can suffer and advancement may be slower in coming.
So you might be asking yourself right now: Why should I spend one hour with you? Instead, we will ask you this question: Why not?
Reserve your FREE career coaching session today by: 1.Contacting 1. Contacting our talent management consultant at: +60124923116 +60124923 116 OR 2.Emailing 2. Emailing us at:
[email protected] [email protected]
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The Path to Financial Freedom
Reection Kindly take 10 minutes of your time to pen down your reflections. Here are some questions to help you get started.
1. What ignites you you up, makes you feel energised or gets you motivated - where are your passion?
2. What are the 3 things you could not put up with, regardless of how attractive the career is?
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3. What are the skills, talents, and pursuits would would you like to have or develop in your career?
4. What are the things things in life (be it tangible tangible or intangible) that you value most? (Try to name at least 3)
5. If there is one thing in the world that that you would do without getting paid, what would it be? And why?
Bring this copy along when you are attending our career coaching session.
