10 Things I Learned from Chinkee Tan in Developing the Millionaire's Mindset

It was an ordinary Friday morning.  The streets were packed with honking cars and people in business suits walked hurriedly to their offices.  I went my way to Greenhills Shopping Center.   (Not that I had planned to go shopping.) 

Developing the Millionaire’s Mindset seminar by Chinkee Tan was held at Victory Christian Fellowship, 4F Virra Mall, Greenhills.  I thought it was going to be another motivational talk, full of flowery quotes yet lacking in substance.   But what got me joining was my curiosity as to how a brother in Christ views money.  And, what mindset he is trying to teach anyway.   Is there such a thing as a millionaire’s mindset?  Is it healthy?  What mindset do I have?

So there I was, seated with about 70 other hopeful, curious souls, listening to this petite Chinese guy in glasses opening the seminar.  Chinkee Tan seemed to be a very big guy trapped in a smaller body.  Strings of words came out strong and powerful.  He got my full attention from 10 to 6pm.

Let me share with you the 10 things I learned from Chinkee Tan in Developing the Millionaire’s Mindset seminar.

     1.     You won’t be able to shoot if you have no goal.

Logical, isn’t it?  We can measure our productivity more effectively if we have a goal in mind.  

He asked one interesting question that I would like to ask you too.  “What do you want to do when you already have millions?”  What would you do if you were already earning a passive income of one million pesos per month.?

Your answer may be your vision or goal in life.

     2.     All of us have a potential to be a millionaire.

..Even if you’re faced with debts.  ..Even if you’re still sulking in poverty.   According to a study, Chinkee says, 90% of millionaires are first generation millionaires.  This means that most people who made it came from a very humbling background.

I like how he describes challenges, as “vitamins in life."   This echoes what James says (1:3), “testing of your faith produces perseverance.”

     3.     If you really want to learn, learn from the experts.

Many of us ask our family members or friends with new ideas and opportunity, but Chinkee suggests that we should ask the experts.  If you are into business, ask a business person.  If you’re into art, ask an artist. 

     4.      Money is only the result of a job well done.  The process is what you've got to learn.

“If your only goal is to make money, you won’t ever make money (unless your goal is to make counterfeit -ed).  You should focus on the process, the formula.”  -Chinkee Tan

     5.     You gotta dream.

You gotta dream big.  I call it the “God-sized” dream.   We are the ones stopping ourselves from dreaming.  One reason why we don’t dream is because we don’t like to take responsibility.  We allow other people to dictate what we should do.  Let’s start dreaming again, with a childlike faith.

     6.     You gotta protect your dream.

Protect your dream from people who tell you, you can’t do it.   Oftentimes, it comes from people who are quite down.  Misery loves company.  Don’t listen to people who haven’t succeeded.

     7.     Your mindset is your thought life.   Mindset is developed by what you see, hear or experienced.

The actions we see from our parents, the statements we hear from them, and our experiences, may get planted into our subconscious mind making it our money mindset.   Ask yourself, how do you feel about money, and when you talk about money?  Do you think it’s easy to earn money?  What happened in the past that brought you to view money in this  way?  Our money mindset determines our financial life.

BIG MINDSET + BIG ACTIONS = BIG RESULTS

POOR MINDSET + POOR ACTIONS = POOR RESULTS

     8.     It’s possible to change your mindset.  Deal it from the roots.

This is possibly the most helpful point in the whole session.  Chinkee shared that he had felt stressed talking about money.  It was only until years later, that he was able to uncover the reason behind it.  His parents had always fought when money was involved.

He had to deal it from the roots.

Chinkee's way of developing a millionaire's mindset with his family is that they do not use the terms, “expensive” or “mahal” in the house.  Chinkee Tan says if there’s such a thing as expensive, it shouldn’t be in the market.  These products are available because someone is willing to pay the price.  Chinkee taught his family that if they want something to be added in the family budget, they pray to God about it, and God who is rich will be the one providing, if it’s in His will.

Detach yourself from the past because you cannot change the past.  “Your past did not create who you are, your past made you believe that you’re like that today,” said Chinkee.    If there are some people who’ve stained your money mindset, confess it to God and forgive them.  Know that in Jesus, we are a new creation.  The old has gone, the new has come!

Do you know why Michael Jackson had to change his nose through multiple surgeries?  His dad had told him before that his nose was as big as a telephone.

     
9.     Develop the 7-minute reading habit.

Chinkee sited an example of the differences in classes, “If the poor read tabloids and the middle class read newspapers, the rich reads books.”  But of course, not all books can be beneficial.   One book that can surely bring success is breathed by God Himself.  “Do not let this Book of the Law depart from your mouth; meditate on it day and night, so that you may be careful to do everything written in it. Then you will be prosperous and successful.” –James 1:8

     10. Discover the lid that traps you.

How much do you think you should earn each month?   Is it Php 10,000? Php 50,000? Php 100,000?  You may have a lid that limits you.  Chinkee told a story about an eagle that is adopted by a family of chicken.  The eagle talks like a chicken, walks like a chicken.  Are you an eagle living in a chicken community that’s keeping you from soaring?

Want to know more?  Feel free to read When in Manila's review of Developing the Millionaire's Mindset.

Also, you may catch Chinkee Tan soon. Chinkee Tan will have a seminar titled The Power of Mindset on November 14, 2012, this time with the best-selling author Francis Kong.  I think the rate is Php 2,800.  But for early birds, it's going to be just Php 1,400.

But wait, there's more!  Avail now at any Cotton Depot branch and you can still slash it off by 10%!  

THE POWER OF MINDSET 

 When: November 14, 2012 (Wednesday) from 10am to 5pm

Where: Victory Christian Fellowship 
4th Level V-Mall Greenhills, San Juan

Speakers: Chinkee Tan and Francis Kong

Learning Investment:

▪               Gold 2800PhP

▪               Silver 2100PhP

▪               Bronze 1400PhP

For reservations:

Call Ivan 0917-3141231