Adam Khoo wrote a great book titled “Secrets of Building Multi Million Dollar Businesses”. I first came across this book when I was reading about him on his blog several years ago. I read one of his articles and was really inspired through his blog and as a result, I bought his ebook.
When I was travelling around Singapore, I came across the hard copy of his book and bought it immediately.
Several years later, I was in his office and we were talking about business and other things. It’s amazing how things happen over time. Anyway, back to the book.
The book is divided into the following chapters.
Chapter 1 – Making of an entrepreneur.
Chapter 2 – Success factors of entrepreneurs
Chapter 3 – Million dollar business idea
Chapter 4 – Building a business that works without you
Chapter 5 – Multiplying business profits
Chapter 6 – How to generate millions in sales and business
Chapter 7 – Building a team
Chapter 8 – Mastering money
Chapter 9 – Growing your business empire
Key Takeaways from the Book
Below are some of the key takeaways from the book.
How To Build A Business Using A Powerful Formula
Adam Khoo uses the following business building formula when he builds his companies around Asia.
Leads x Conversion Rate x Price = Sales
Adam teaches that if you follow the above formula, you can easily increase the sales in your business. For example, if you want to increase leads, you would have to run advertising, social media marketing, video, email marketing and more.
All activities that increase leads is a lead generation activity.
Next is increasing your conversion rates. You can increase your conversion rates such as including testimonials, credibility elements, authority, video and more.
Once you’ve increased your leads and conversion rates, you can see a massive increase in sales.
Creating A Powerful Advertisement
One of my favourite chapters in the book is how he created a powerful advertisement that drove attendees to his workshops. He showcased an advertisement in his book which demonstrated the following key elements:
- A powerful headline
- Stating the problem
- Building credibility
- Call to action.
I believe the art of creating powerful advertisements that get the phone to ring is a skill that all business owners must prioritise. Learning how to create these powerful advertisements will put money in your bank account.
Of course it takes time, trial and error to create powerful advertisements but once you great that big one, that’s all it takes to achieve that financial freedom.
Overall, I really like this book. It’s well written, it outlines everything you need to know to grow your business and the only thing left is just taking action on your part. Adam Khoo has once again produced an amazing book that will help us build the life of our dreams.
Stay Strong and Be Relentless.
PS. If you liked this article, contact me for business coaching and let me help you drive more online sales for your site.