He was once a wedding videographer, supplementing his income as a pianist and a magician. But he is now an Internet millionaire – thanks to the Internet and his online business ventures.
With ten Internet-based business start-ups that include his Click Events companies and subsidiaries, the World Internet Academy, SharesXpert.com and his new prizle.com venture, Internet entrepreneur Fabian Lim is now able to enjoy the freedom and mobility that he has always dreamed of – without money being an issue at all. He even has a private plane at his disposal.
Fabian has also recently published a best-selling book, Click! Work Anytime Live Anywhere, which has been reviewed here.
I caught up with this amazing online entrepreneur to share his tips on how to be an Internet millionaire and to talk briefly about his book.
What inspired you to write your book?
Well, after spending 10 years in entrepreneurship, I realised that many newbie entrepreneurs were making the same mistakes I was making, so I just decided to compile my thoughts and learning lessons into a book, so that other new entrepreneurs could avoid making the same mistakes.
Is it really true that you don’t need skills, education or knowledge to succeed, as your book initially proclaims?
Well I think that you need to put this in context. What I am saying is that you do not need formal education to succeed as an entrepreneur. Neither do you need special skills or talents.
Even a person with primary school education can be an entrepreneur. My personal view is that there is zero co-relation between academic performance and entrepreneurial success.
(Fabian is a graduate from the Royal Melbourne Institute of Technology – RMIT University, Australia).
You are a successful Dot Com millionaire. What does being “rich” and “successful” mean to you?
Well, being rich and successful is a relative term. It depends on whom you are being compared to – and it is not just about having money. Many people think being rich equals having money. But I have learnt that it is being able to live life with a purpose, however you define it.
To me, I value my personal freedom and mobility and this is my purpose in life. I want to be able to go anywhere I want and do anything I want without someone having to tell me what to do. It is the independence I value a lot – and having money enables me to do this.
Do you think most people share this view?
No, and this is because I have taken the road less travelled. People generally want to follow the norm, so they study hard, get good grades, find a good job, work hard and finally retire with money in the bank. That is what the herd does and it seems logical enough. So if you do not question the norm, you will not be able to get out of the rat race. If someone is resigned to the fact that life is like this, then they are pretty much sealing their own fate.
What would you say is the main reason that prevents some people from being successful?
I believe the primary reason is that people are unwilling to come out of their comfort zone. The second biggest reason I believe is that a lot of people dream small and end up achieving small goals.
The majority of people just want to dream of having a stable job and income, so they end up with just that. It’s a self-fulfilling prophecy.
Also, they believe that there is only one way to live life and that explains why they do not seek other methods or means of doing so.
Can you comment more on why some people may never get round to achieving their goals?
Confidence of course, has a big part to play and determination is another aspect. There are things we want to do but we are always procrastinating.
People who procrastinate hope to achieve their goals, but they don’t have the desire to accomplish them anytime soon. But you must understand that there is a procrastinator in every one of us too. It all depends on which aspect of your life you are looking at.
I am a huge procrastinator when it comes to fitness. There is nothing to be ashamed of. Procrastination is just a fact of life and we are all procrastinators in some aspect of life.
What are some of the biggest challenges to becoming a dot com entrepreneur?
I think that the biggest challenge is the fear factor – the notion that the Internet is unknown and complicated or technical – which is a pure myth. So many people create illusions of impossibilities. That is why they never get around to doing it. Also Dot Com Entrepreneurs like myself, are rare at this point in time. So many people have problem relating to what dot come entrepreneurs do for a living.
Describe your typical workday.
I do not have a typical day. Some times, I do nothing, but on other days, I have back-to-back meetings.
Yesterday was one of the busier days where I had four back-to-back meetings regarding my start-up ventures.
But contrast it to today. Apart from this interview, I do not have much to do and I am staying at home lounging on my bed. I woke up at 12.30pm. Then I checked emails and important messages, had my lunch and now it is 3pm in the afternoon.
How would people become a Dot Com entrepreneur like yourself? Any tips?
Find a good mentor, obviously. There are many mentors but you have to find someone you can identify with, too.
You need a good mentor who is an expert in the area that you want to learn about and also whose values you can align with. For Dot Com entrepreneurial businesses, I would recommend myself.
For those who want to achieve as much success as you have, what is the one thing that you would recommend?
It is dare to dream.
This phrase stuck with me through a quote from Tony Fernandez, who is the Air Asia boss. It is only through dreaming that you can dream big things and I think it all starts with that aspect. If you do not dream of bigger things and better improvements in your life, you cannot get to somewhere or what you are trying to achieve.
And what is the key message that you’ll like to pass on?
I think it is that becoming a successful entrepreneur is really about having a desire to want to accomplish something in your life to create a legacy. So that is the main thing for me as opposed to being employed. It is the desire to create a legacy and pass on all my hard work and labour to the next generation. So that means I’ll be passing my businesses on to my future children!
To get in touch with Fabian Lim, you can find his Facebook fan page here
His book, Click! Work Anytime Live Anywhere, is available at all major bookstores.
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