In his latest book, Secrets of Building Multi-Million Dollar Business, Adam Khoo (BBA Hons 1999), Founder and CEO of Adam Khoo Learning Technologies Group, encourages his readers to start a business during a recession. Think it’s ridiculous? Mr Khoo begs to differ.
“Everything is much more affordable during a recession,” he says.
According to Mr Khoo, rental for equipment and location becomes cheaper when times are bad and talents who are let go by downsizing companies come readily for hire and are also not too particular about their salary.
He also says that in bad times, consumers are more open-minded and willing to look at smaller and lesser known companies to provide services at a lower price which maintain the same quality.
“In other words, this is a good opportunity for smaller businesses to grow.” Mr Khoo’s book is targeted at two main groups. The first for businesses that are not doing well, and the second for hopefuls who want to start a business but have not taken action, Mr Khoo says that his book will enlighten the first group to build a larger share through innovative marketing, as well as equip the second group with the fundamentals of starting a business.
“Being an employee is extremely risky nowadays with the volatility of the market,” Mr Khoo points out. “There is an illusion of security. In fact, the higher your position, the higher your salary is and you may become too expensive for your company.”
This is Mr Khoo’s eighth book and he claims that it contains the practical knowledge for anyone who is setting up his or her own business.
The successful alumnus says that he writes because he wants to share with others his knowledge and experiences to help his readers succeed in life. “Writing comes very naturally to me on topics that I am passionate about because these are the very things that I am practicing and doing everyday.”
Mr Khoo will be releasing his ninth book, a book that has been written in 30 days as a challenge he had set for himself. It is titled Profit From the Panic – How to Protect Your Money and Profit from the Worst Financial Crisis since The Great Depression.
For more information about Secrets of Building Multi-Million Dollar Businesses, please click here.