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7 Lessons from Self-made Billionaire Peter Lim

7 Lessons from Self-made Billionaire Peter Lim

7 Lessons from self-made billionaire Peter Lim

If you think high paying and top-level positions are acquired to those who are “privileged”, then you are completely wrong. Peter Lim “Remisier’s King” is a self-made billionaire who went from rags to riches.

Therefore I provide you 7 Lessons taken from the life of self-made billionaire Peter Lim to prove that you can do it too.

 

There are no excuses

Peter Lim grew up in one of Singapore’s oldest public housing states, sharing a 2-bedroom government apartment with 11 people.

He never made an excuse to work hard despite his economic conditions, neither should you find excuses everyday because you didn’t catch a sleep, nor because you don’t have the money to start doing something valuable.

Never Give Up

Peter Lim found it hard to get into a respectable University because of his economic background, being the son of a fishmonger he kept trying until he found success. Lim then finished his education at the University of Western Australia where he received his degree in Accounting and Finance.

Find your means

To be able to fund his studies Peter Lim had to take a number of part time jobs, which included being a waiter, cook, and a taxi driver.

If the bigger picture is worth sacrificing your leisure time, then is worth doing. Find whatever it takes to accomplish your goals in life, even if it involves working three part-time jobs.

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There is always something valuable to learn

It wasn’t until Peter Lim worked as a cook in a fast food chain called “Red Rooster” that he learned how business really worked. Lim observed how the business operated and expanded, he then utilize this knowledge to create huge gains in his business career.

Be sure to observe your surroundings even if you work at McDonalds there is always a valuable lesson to learn to implement in your business life.

Don’t be afraid to quit

After Lim graduated he started working as an accountant, which only lasted three months. He then moved into tax consultancy before he realized none of that was really satisfying his inner ambition, it was also something he always wanted to be since he was 18. Leaving everything behind Lim became a stockbroker in which he immediately obtained a name for himself “King of the Remisiers”. Remisiers is a term used in Singapore given to stockbrokers who only get paid in commissions.

What we can learn from Lim is to always follow your dreams, because you will never be happy if you stay in the place where you find comfortable. Don’t be afraid to quit and to challenge yourself if you think your current job is not for you.

Stick to your gut, and be patient

Lim invests in the long-term after doing incredible amounts of research, he then sticks to his data and doesn’t let the daily market fluctuations to influence his decisions in a short-term basis. Lim is known for turning $10 million dollars of stock in the earlies 90’s in a company called Wilmar International into $700 million. “When you are holding stocks, if it goes up, don’t be too happy; when it goes down, don’t be too sad. Otherwise, how? Your life will also be fluctuating and you’ll die of a heart attack. If you really lose sleep over it, maybe the best way is to keep the money in the bank.”

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Reward your team

After making his first big profits in the stock market as a trader Peter Lim decided to reward his team buying a BMW and 3 Lexus for the top performers in his team, demonstrated the gratitude towards them for helping him succeed.

Remember to always reward those who helped you get to the place you are right now. There is nothing more special than saying thank you to those who earned it. It will make you increase those relationships with them and will increase their loyalty to you.

 

Are you doing what it takes to follow your dreams? Leave a comment below.  

Written by Francisco

Frank is the Founder of Wall Street College and a dedicated stock investor. Having an enormous passion for Investing, Stocks, and Success, Frank decided to start WallStCollege.com with the purpose of educating people on how to put their money to work, teach them how to invest in stocks, and how to always strive for Financial Freedom.

11 Comments

  1. Aras Androck · 13 October, 2013

    This post boosts my spirit up a notch. Thanks for sharing!
    Aras Androck recently posted…NubriMy Profile

    • Frank Alvarez · 13 October, 2013

      Aras,

      Thank you for your kind words. I agree this post is the proof that there are no excuses in life to determine how successful you become. Peter Lim is a great example of a person who had no “advantages” in life and he overcame those obstacles to become successful.
      Frank Alvarez recently posted…Quick Great Reads and Some WSC NewsMy Profile

  2. Jucu Cristian · 22 September, 2014

    Yes you are right but this happy end it happend one in a milion , maybe in ten milion , so we just have to fight and never give up , but our dreams might never come true , I will work hard and I will take the life as it comes good and bad together.

    • Frank Alvarez · 9 October, 2014

      Jucu

      I believe that this can happen to anyone. The thing is most of us quit when we are faced by adversity. The trick is to never give up and you will eventually be great at whatever it is you want to accomplish.

      When it comes to investing the more you learn the less mistakes you start to make.

  3. Peter Bishop · 13 January, 2015

    Dear ALL;
    I have an aerospace background and have a great and new idea, which will be very popular.

    Can someone with of Peter Lim’s pedigree please contact me to discuss the commercial prospects, and help develop this idea.

    Good Luck & God Bless to all that read my reply !

    Best regards,

    Peter Bishop

  4. Jay Mahan · 1 June, 2015

    Frank, I just discovered your article from a couple of years ago. I am being approached by an agent claiming to be representing Peter Lim Investments (peterliminvestments.com). The website they reference uses almost verbatim your blog/article. Do you have any insights as to the legitimacy of a company called Peter Lim Investments or the website?

    • Frank Alvarez · 1 June, 2015

      Jay,

      Thank you for pointing that out. It is shameful that companies copyright articles to add to their website, especially on their about us page. I would stay far away from that company.

  5. Bill · 18 June, 2015

    I like that you listed about finding your means. Most people aren’t willing to give up their time for most things. And that’s when you get an idea about your real passion. What it is you really want. If you’re not willing to sacrifice for it, it’s probably the wrong choice.

  6. Alice · 12 September, 2016

    Very informative article! Never ever give up in any situation.Try try again at last you will be success.Thanks for sharing.

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