money mastery copyright all rights...


Leveraging Your Time To Create Wealth

By KC See

MasteryAsia (M) Sdn Bhd All rights reserved. Without limiting the

rights under the copyright reserved above, no part of this publication

may be reproduced, stored in, or introduced into a retrieval system,

or transmitted in any form or by any means (electronic, mechanical,

photocopying, recording, or otherwise) without express, prior

written permission.

For permission requests, please contact:

Tel: 03 – 9059 6218

Email: [email protected]

Website: www.masteryasia.com

mailto:[email protected]

http://www.masteryasia.com/


1.WHAT IS WEALTH?

Wealth means different things to different people. For some people,

wealth means big cars, big houses and anything that makes you look

and feel good. For some it means long term financial security.

To leverage your time for creating wealth, we need to first agree on

what is wealth is. Wealth can be defined as “the number of days you

can survive ahead if you stop working tomorrow”.

This is not my definition. This definition comes from my mentor

Robert Kiyosaki who chooses to look at wealth from the perspective

of capability rather than possessions.

Think about that for a second: How many days can you survive

forward if you stop working tomorrow (without selling your assets)?

What would your answer be?

Most would probably say 60-180 days. Some may be lucky enough to

say a few years perhaps. If we agree on this definition of wealth, then

the answer for a truly wealthy person would be INFINITY.

True wealth is when you can say, “if I were to stop work tomorrow, I

can survive forever”. The money will come from somewhere,

somehow and I do not have to work for the rest of my life”.

You will probably say, “Yes, I want to have true wealth!” We all want

to be able to stop working and still enjoy our lives without worrying

about whether the money will be coming from the next month.

Wouldn’t this be ideal?

To be able to do that, it would mean creating an income source that

would put money in your pocket - regardless if you do go to work or

don’t go to work.


This brings us to the question: ‘’Why leverage time?” The answer is

simple: TIME IS THE MOST SCARE RESOURCE. Would you agree that

is you lose time, you will never get it back?

You will lose it forever. If you lose your money now, you can always

earn it back. If you lose your staff, you can always hire another

person.

Most things can be substituted but if you lose time, it will never come

back. TIME is LIFE. LIFE is TIME. Time is what we have for ourselves.

When we leverage our time to create wealth, we are maximizing our

life to create wealth.

Time is also the one thing that is truly limited. So if your income

depends on time, then your income will always be LIMITED.

Moreover we cannot be working 24 hours a day.

We need time to do things other than making money - spending time

with our loved ones, time for ourselves, time to “smell the roses” and

even time to do absolutely nothing.

So the challenge is how do we acquire wealth without having to

spend all our time on working? Working harder is certainly not the

solution.

You are not born into this world to work for the rest of your life. So,

the faster you can enjoy life without having to slog away at the office

and be confident that money will be flowing in consistently, the

better it is.

An excellent example of successfully Leveraging time to Create

Wealth is the ability to say “forever” when someone asks you how

long you would last if you don’t go to work tomorrow; within the

shortest possible time.


If that is the case, then the next question you need to ask yourself is

“If I continue to do what I am doing now, will I acquire true wealth?”

Some of you may say “yes” but for many, the answer will be “NO”.

The truth is most people will work through most of their lives and

retire poor. If your answer is “NO”, then the only way to become truly

wealthy is this: YOU NEED TO CHANGE WHATEVER YOU ARE DOING

NOW.

The only problem is, to many people, change is a very difficult thing

to do. However, if you do make a commitment and have the vision to

make that change, you will know how to do it.

2.TIME AND WEALTH CREATION

Time is life when there are 3 main stages in our lives. When we are

young and still under 25years of age, we all have our dreams. As we

grow up, we are taught that if we want to be successful, we have to

work hard. We also see our parents working very hard.

Our teachers tell us that if we want to do well, we need to study hard.

It is no wonder for many people, life becomes very hard.

As we grow older, those dreams of ours start to fade and become

more distant. Dreams become less possible and seem harder to

achieve and as time goes by, some of us begin to give up on them.

When you are 25 (or younger) and you are out there working, reality

begins to set in.

We see some of our friends becoming rich and they do not seem to

have to work hard. We console ourselves by saying, “They must be

lucky”. Do you realize that we have a tendency to rationalize what we


cannot get by saying, “Oh! He is so much luckier than me.” Luck is a

loser’s favourite excuse.

We began to question ourselves: why is this happening and what

went wrong? We get demotivated and we do our job mechanically

“we wake up in the morning, go to work, eat, sleep, wake up, go back

to work. The cycle repeats itself.

If we do well in a job, we get a pat on the back but if we do not, we get

kicked in the butt. We just continue to exist. We live to pass time,

having nothing to look forward to except our upcoming retirement.

Ask yourself: How can you expect to achieve greater heights if you do

not change what you are doing now?

The greatest insanity is to do the same thing every day and expect

different result. If we want a change in our life, we must change

our life.

Picture this: You are now 65 years old and you have not made the

changes you should have. You discover that life is not as secure as

you had thought despite your retirement funds.

Statistics show that by the time we are 65, 36% of us will be dead, 54%

will need to depend on others to survive, 5% will still have to work

for living, 4% are financially independent and only 1% will be

enjoying wealth. You may have your dreams but the sad truth is, only

1% will have true wealth.

How did this 1% create their wealth? Again, statistics tells us that of

the 1%, 74% made their wealth from running their own business.

Only 10% are professionals, 10% are CEOs and the rest are from

other sources.


So if you want to be that 1%, DOING YOUR OWN BUSINESS seems to

be the way. You must have many friends who have started their own

businesses. They are making a lot of money but for some reason, are

still not able to find happiness.

It is not surprising to note that running a business is not exactly a bed

of roses. Firstly, most businesses require a substantial capital

investment. Secondly, there will always be a certain level of risk.

Statistics show that 47% of the top 500 companies no longer exist

today.

80% of those that remain fail within 5years and 80% of that group

fail within 10years of operation. The statistics is similarly true for

companies that aren’t on the list of Fortune 500 companies.

When you run your own business, it is very common to hear business

owners lamenting that they have no time, they cannot go for holidays,

they need to look after the business, etc. They become slaves to the

business.

The business is running them and not the other way round. Even if

they employ staff, they wind up the whole range of employee

headaches, operational stress and many other problems.


3. FOUR KEY IDEAS FOR CREATING WEALTH

Paul Getty says that there are 4things you must do in order to be rich.

Firstly, you must be in business for yourself. Of course, you need to

look at what being in business is all about and consider the factors I

mentioned earlier about running your own business.

Secondly, Paul Getty says you must have unique, highly consumable

products. This provides repeat sales and gives rise to concept of

residual income.

Thirdly, you must be able to build success upon the success of others.

You become successful when you help others become successful.

And last but not least, your business must be able to leverage your

time. This is explained through Paul’s concept that “having 1% of 100

people’s effort is better than 100% of his own effort”.


Time Leverage Diagram

Let’s look back at the concept of time. In a matrix of time against

money, there are 4 possible scenarios:

Number one - you have NO Time and NO Money. Here, you work hard

and a large part of whatever you earn goes toward paying your

liabilities such as your taxes, car, house and daily expenditure. The

moment you stop work, you have no income. You lose your “assets”.

People in this situation work hard believing that if they do so, things

will be okay. The truth is, it is not okay.

Number two - you have Money but NO Time. Here, CEOs and

self-employed traditional business owner make money but because

they are continually working, they do not have freedom of time. Why

do we want lots of money? “So that we can afford to buy this house or

that car”, we reply. BUT WHY? Whatever the answer might be, it can

be probably summed up into one word: happiness. The bottom line is,

we all want to be happy. But how can that be possible if we do not

even have the time to enjoy the pleasures of life?

Have $ No Time

Have $ Have Time

No $ No Time

No $ Have Time

[Type a quote from the document or

the summary of an interesting point.

You can position the text box

anywhere in the document. Use the

Drawing Tools tab to change the

formatting of the pull quote text

box.]

[Type a quote from the document or

the summary of an interesting point.

You can position the text box

anywhere in the document. Use the

Drawing Tools tab to change the

formatting of the pull quote text

box.]

$

0 24 Hrs

Time

Money


Number three - you have Time but NO Money. This is an area that I

am sure most of us do not want to be in - otherwise you won’t be

reading the book.

The scenario all of us want is to have Time and Money so that we can

be rich and happy.

4.DIFFERENT TYPES OF INCOME

TO get into that box of having time and money, we need to

understand the different types of income that are possible and then

make specific and deliberate changes to what we are doing now.

FIRSTLY, LINEAR INCOME

Here, you exchange your time for money. The more money you want

to earn, the more time you need to give up. If you are employed, then

you are earning linear income. As an employee, if you want to earn

more, you have to work harder and sacrifice more time. So with

linear income you can never have time and money since the more

money you make, the less time you will have.

The problem is, there is a limit to how much you can earn based on

time. If you were to stop or fall sick, your income also stops. This is a

very fragile income source with little security. Unfortunately, this is

where almost all of us are situated, particularly wage-earners.

The same concept applies for some businesses. For example, if you

are in the business of selling water filter, then every water filter you


sell will earn you an income. The more time you spend selling water

filter the more money you make. This is an example of linear income.

SECONDLY, RESIDUAL INCOME

Residual income is income you make from initial effort. You put effort

in an area and then you continue to reap an income thereafter for a

certain time - which can even go on forever. Michael Jackson will

continue to earn a royalty from his future sales of his music albums

or from people singing his songs; even if he can’t perform anymore.

Another example would be royalties earned by writers every time

you buy their books.

In business; picture this: you initially spend time to build up the

relationship with your potential customer. Once the customer uses

your product or services, he is happy and comes back for more. The

second time round, you probably will not need to spend as much time

servicing the customer in order to get the second order.

If you have a quality consumable product, your customer will always

come back for more. You work less but still earn an income. This is

called Residual Income, or as some call it Recurring Income.

So back to the water filter example; imagine you have sold 10,000

water filter and you water filter has a consumable part that need to

be changed periodically such as the filter itself. Then all you need to

do is sit in your office and wait for phone calls from your 10,000

customers wanting to change their water filters. The printing


companies don’t make the bulk of their money selling you computer

printer; they make more from selling you in cartridges.

By having residual income, you are actually leveraging time. You

spend less time and earn more money. The question then is how to

find residual sources of income. When you are in business, as Paul

Getty says, you must have unique highly consumable product. Why?

Because these product will be able to give you residual income.

THIRDLY, MULTIPLEX INCOME

The most exciting source of income, the multiplex income, is perhaps

the best way to leverage your time for creating wealth. Multiplex

income is earned from the efforts of others.

You want to be able to earn $1 from 100 people rather than earn

$100 from your own time. Now, why would anyone give you $1? So in

the water filter example; if you have 100 people selling water filter

for you and you earn a cut from every sale, then It would be multiplex

income.

Consider the McDonald’s franchise concept. Ray Kroc did not become

a millionaire by selling hamburgers. He has independent business

owners selling the burgers for him and they each pay him a franchise

fee of the percentage of sales. What Ray has is a proven system that

can be duplicated. Multiplex income is based on concept of “the

power of duplication” or what we can call the “effects of

multiplication”.


Another powerful system for multiplex income is Network Marketing,

which is referred to as People’s Franchise.

At this point it would be worthwhile for you to do this exercise:

Write down the total income you made last year:

___________________________________________________________________________

Ask yourself how is this income divided?

Linear Income: ________%

Residual Income: ________%

Multiplex Income: ________%

Answer this question; What do you need to change?

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________

It is important that as you decide to begin to leverage your time to

create wealth, you will also start mapping out a plan to create and

accumulate not only multiplex income but also MULTIPLE multiplex

income.

You will also need to look at all types of passive income I.e income

that comes to you whether you go to work or not; not including


investment income, rental income, royalty income and others that I

am sure you can think of. Anything is possible. You are the one that

can make it happen. Take that journey now and do not wait any

longer.

This is a simple book but is the simple things that we sometimes

don’t do. Have a happy journey.

5. WHAT ELSE?

If you still carry with you the idea that you cannot create wealth

because you are too busy, then your inability to think about

possibilities will be a challenge that you will need to overcome.

This negative belief will only limit your capability to generate income

and create what I call your “Money Making Machine”. Because of this

inability coupled with the work-hard formula that you might

currently adopting, you ARE the money making machine. Instead, you

should be thinking of ways to earn more money.

There is host of other negative money beliefs that will put a barrier

over our earning and wealth creation capability. Another very

common one is “how do I generate money if I don’t have money?”

The idea that you need to put your own capital to make money is

another big obstacle.

We know that this is simply not true. It is important for us to be

aware of the challenges that exist within ourselves. Only when we are

aware, can we consciously do something about it. Unfortunately most

are not even aware.


So how can we deal with this? The only way is to be willing to

re-educate yourself. That does not necessarily mean that one should

only attend seminars. Lots of people attend all kinds of seminar and

nothing changes, mainly because most of them do not act on their

new found knowledge.

We also have to go beyond seminars. Observing what others do, how

it is done and emulating them is probably the most practical way to

learn something. It might therefore be necessary to go outside your

normal circle of contacts and meet people more successful than you

are and find out what they do, how they manage their time and what

helps them to be successful.

In the area of learning about wealth creation, one way is to ask

financially successful people good question and finding out what they

do to make money.

The shortcut to all these is to get yourself a mentor; somebody who is

willing to take you under his wings. But how you are able to get

yourself a mentor is another skill that you need to learn.

Even if you are able to pay for one it does not always mean that they

will be willing to mentor you. Sadly some people are not teachable. So

are you teachable? To be teachable you need a certain degree of

humility.

Another vehicle for real world learning is to create your own

mastermind group. A mastermind group is a group of like-minded

people focused on supporting each other’s journey towards success

and helping each other achieve their goals. It is based on the concept

of giving in order to receive.


It is a discipline and it is one of the key pillars for learning and

success. There are rules relating to how best a mastermind group

should be conducted. To learn more about the rules, log on to my

website www.moneymasterymentorship.com

About the Author

K.C. See is an accomplished entrepreneur

with business interest in training,

consultancy, publishing, software

development and franchising.

K.C. See, a powerful speaker and trainer, founded the Money Mastery

Mentorship Programme back in 1997 when such programmes were

still new in Asia. Since then K.C. has mentored over 10,000 people,

helping them accomplish their goal and realise their dreams.

As a trainer, K.C. has trained over 100,000 people over the last 30

years and is much sought after to speak at Conferences and seminars.

He is featured in the book, “The S-Files - A complication of 20

successful Malaysians” and other media including News Radio 93.8 in

Singapore and TV2 Malaysia.

K.C. has also authored 4 other books and CDs including the bestseller,

“Quest for Excellence” and “You Can Create Wealth”.

An accountant by profession, K.C. finds fulfilment in coaching

professionals to excel. His personal mission is to help others leverage

their time and income to create wealth.

http://www.moneymasterymentorship.com/


MONEY MASTERY MENTORSHIP PROGRAMME

Since 1997 Money Mastery has enabled thousands to enhance their

lives, achieve the financial goals they have dreamt about as well as

the quality of life they have always wanted. These are not promises.

This is for REAL.

This renowned learning programme goes beyond the normal seminar

offerings and provides a long term, doable pathway to financial

freedom and personal fulfilment! It is all about PASSION and

SUCCESS.

The Money Mastery Mentorship Programme is a system of learning

which exceeds the run-of-the mill seminar experience. It assist you in

removing the restraints that you place on your financial goals and on

your life. Through our unique Mentorship Programme, the ability,

experience, expertise, and result become yours. The Money Mastery

Mentorship Programme is suitable for individuals who…

Desire to achieve financial freedom

Want to learn the principles behind wealth creation

Are seeking to overcome their mental, emotional and physical

barriers to making money

Desire a more fulfilling and prosperous life

Want to escape the hectic, 9 to 5 rat race

Want to start their own businesses but lack of resources

Are ready for a big change in their lives

Want to know how to become a money magnet


Money Mastery Mentorship Programme consists of Three

Components

- Experiential Learning, Coaching, Mentoring, Community Support

MONEY MASTERY ROADMAP

-ACTION PLAN FOR WEALTH CREATION

What some Money Mastery Graduates have to say…

“I benefited greatly from the Money Mastery Mentorship Programme

and now have more business opportunities than I can possibly handle!

My business is about to go into Singapore, the Philippines and

Indonesia - all thanks to the wonderful contacts I made during the

bootcamp!”

Teoh Poh Yew

Penang, Malaysia

Consultant, Creative Wizard Sdn Bhd

Class of MM0103


“Do you want to make money? If you do, this is definitely the place to

make it come true!”

David Maynard, Australia

Class of MM0201

“At Money Mastery, I learned that we don’t wait for money-making

opportunities to happen - we create them! The best part about the

programme is that we didn’t merely learn how to make money, we

actually experienced it!”

George Tang

Kuching, Sarawak, Malaysia

Director, Shingda Constructors Sdn Bhd

Class of MM0502

“I made S$300,000 within a week after attending the Money Mastery

bootcamp!”

Bellum Tan, Singapore

Director, Multiaire Engineering

Class of MM0900

“Talk about life-changing! Wow! Ever since I enrolled for the Money

Mastery Mentorship Programme, my financial situation has changed

for the better! My Mindset is now one of wealth and prosperity; I am no

longer unhappy, unhealthy and broke!”

Edward Clark, America

Class of MM0900


For more information on Money Mastery Mentorship Programme or

to find out how MasteryAsia can help you help achieve your financial

and business goal individually, Please contact

Tel: +603-9059 6218

Email: [email protected]

Website: www.moneymasterymentorship.com

Facebook: MoneyMastery Mentorship Programme

money mastery copyright all rights...

Documents