Dan Lok

3 Types Of Systems EVERY Business Needs

January 31, 2023 by Dan Lok

I’m about to reveal how to overcome the one thing that trips so many business owners up…

I’m talking about scaling.

Scaling just doesn’t mean making more money or growing your client base.

It means growing fast, being more profitable, and doing so without more effort on your behalf.

Because let’s be honest…

You may be growing but it likely comes at the cost of more of your time.

You find that you’re so busy being busy you don’t have time to work ON the business because all your time is spent IN the business.

And if you want to scale you must have a number of things in place.

So let’s quickly talk about what you need in your business to scale.

The Missing Link To Scaling Your Business Fast

You may have heard me say this before.

“If your business isn’t systems dependent, it’s dependent on you.”

And if that’s the case, you’ll never attain the time freedom you desire.

Isn’t that one of the main reasons you got into business in the first place?

Here’s a question to ask yourself…

Are you creating an asset or buying yourself a job?

If you want to scale, this video explains in detail why you need a business model that is replicable and scalable >>

Now, I’m not saying you need to create the next Apple or Amazon and hire thousands of employees…

But, if you’re not growing you’re dying.

You need to grow and expand if you want wealth and freedom.

Without growth, you’ll continue to be a slave to your business, instead of it being a vehicle that brings you wealth, time, and freedom.

Now you may be wondering, “when is the right time to focus on systems, and what systems will I need in my business?”

Good question.

Every business is different, but in some ways, they’re also very similar.

This video explains exactly when and why you’d want systems in your business >>

3 Types of Systems Every Business Needs

Hard systems, soft systems, and information systems are the 3 types of systems.

This quick video explains the different systems in detail so you know exactly what systems you may need in your business >>

When you choose and install a system, it’s important to bear in mind that a system should solve your problems forever, not just once.

Systems are there to make your and your employees’ lives easier.

If you don’t have solid systems in place when an employee leaves they’ll take their knowledge with them, and you have to train their replacement.

But if you have a system in place, you can get another team member to train them on how to operate the system.

That’s why systems are so powerful and essential.

They’re there to do the heavy lifting for you, and you need them to scale.

How to Install Systems In your Business

A lot of people complicate systems, but if you’re stuck on how to use them in your business…

I’ve got you covered.

Click here to discover how to save yourself stress, time, effort, and money with systems >>

Systems allow you to work on your business and not in your business.

Which is what every entrepreneur needs if they want to scale.

Because not working IN your business all day gives you valuable time to strategize the best ways forward >>

The video above will teach exactly how to work ON your business rather than IN it.

How To Scale your Business

Once you have the right systems, you’re almost ready to scale.

But in order to scale you must know the 3 important numbers I teach here >>

BOTTOM LINE: If these numbers aren’t favorable, you’re in no position to scale.

You must have high margins to scale because as you grow your cost of fulfillment increases and the less profitable you’ll become.

You also need high margins so you can outspend your competitors.

Don’t forget, it’s the person who spends the most to acquire a customer that wins market share.

Here’s a real-life example of how and when it’s a good time to scale your business >>

At any given moment in your business, you want to be able to know how healthy your business is.

Alex Hormozi breaks down his favorite way of getting a quick snapshot of your business >>

Using the method he teaches in the video above you’ll gain 4 pieces of very powerful data quickly and easily…

So you can see what needs to change in order for you to hit your business goals, continue to grow, and so much more.

I hope you’ve enjoyed this edition of High Ticket Weekly.

But before you go…

In just a few weeks, we’ll be running our next S.M.A.R.T. Challenge™.

When you join us, you’ll get my best strategies to SCALE, SYSTEMIZE, and SUSTAIN your business for years to come.

It’s a 3-day event attended by hundreds of coaches, consultants, and knowledge experts from all over the world.

I highly recommend you join us if you’re serious about your business and want to take it to the next level and stop trading time for money.

You can get the full scoop on the S.M.A.R.T. Challenge™ here >>

See you there,

Dan Lok

P.S. – No matter how big your business is now, you will benefit from having the right systems in place.

So, if you’re stuck on what to implement, then click here, and let’s work through it together over 3 impactful and life-changing days >>

Counter-Intuitive Beginner Investing Tips..

January 24, 2023 by Dan Lok

I used to get a lot of questions about investing…

Where to invest…

How to invest…

How much to invest…

So, today I thought I’d compile some of my best info and strategies on investing for you.

Ready?

How To Invest Your First $1,000

If you’re like most people, you’re probably thinking you could invest in crypto, stocks, real estate, index funds, or perhaps many other things.

But if you’re looking for consistent returns on your money, what return could you realistically expect from those investments?

5%, 10%, maybe a little more?

Of course, I’m not talking about when stocks or crypto go crazy and you can 10-100x your money.

That’s high risk and you could just as easily lose all your money.

I’m talking about growing your money over time with certainty.

So, I shot you a quick video on how to invest your first $1K, and I’m almost certain you’ll be shocked at my recommendation >>

How To Retire With At Least $1 Million

Over your lifetime you’ll easily earn at least $1 million dollars.

But when it comes to having $1 million in a retirement fund (which by the time you retire won’t be worth much, if inflation keeps going the way it’s going)…

People seem to think it’s unattainable.

But if you really think about it, you could easily retire with at least one million dollars, using just one investment strategy.

In this video, you’ll discover how to have a 1 million dollar retirement fund with a set and forget system >>

My 5 Top Investing Tips

As you may know, I strongly believe in my Wealth Triangle Principle.

If you’re unfamiliar with it, I’ve included the diagram below.

The Wealth Triangle states that in order to become a financial success, you should start with a high-income skill before you start a scalable business.

Ultimately, you’ll invest in high-return investments with the excess cash flow your business generates.

But it may surprise you to know that you don’t need a scalable business to become financially successful.

Business isn’t for everyone, as not everyone has what it takes to become a successful entrepreneur.

I may not win any fans with that statement but it’s true.

So, in this video, you’ll discover how one of my friends built a real estate portfolio of around $20 million without a scalable business >>

How To Invest In At Any Age Until You Retire

If you’ve watched some of the previous videos I linked above you’ll know that I believe the first investments you should make are in yourself, your skills, and your knowledge.

But if you want to invest your money elsewhere, it pays to keep it simple and invest in what I call the big 3.

Business, stocks, and real estate.

If you look at the most successful investors, they largely have very similar investment portfolios.

Now, I believe that everyone should have 3 types of financial plans…

And I discuss these in detail in this video >>

These plans give you a multi-pronged attack to create wealth and build a solid retirement fund.

How The Rich Invest Their Money

Although there are many “Bitcoin” millionaires out there…

If you look at the majority of people who’ve invested their money, you’ll see Bitcoin millionaires make up a small percentage.

As Warren Buffet says “If you don’t understand it, don’t do it.”

If you want to invest like the rich, that is one piece of advice you shouldn’t ignore.

Investing is like any skill.

It takes time to get good, and you will improve over time.

Sure, you’ll make mistakes here and there, but if you’re smart you can minimize your errors and remove any emotion from your decisions.

Over the years I’ve developed my investing skills and become very successful at it.

So if you want to know how I view investing and get an insight into 3 ways the rich invest, then click here to watch this short 6-minute video >>

7 Timeless Investing Principles

If you’ve been tracking with me through this whole newsletter I commend you.

Most people won’t even set aside a small amount of time to better their financial situation or their life.

If you’re a bit short on time, I’ve put together a small compilation of some of the best tips and strategies in the links above into one video.

It’s just 8 minutes long and one of the most powerful strategies inside will teach you exactly how you should divide your money up each month.

This ensures you have money for necessities, emergencies, investing, education, and of course FUN!

So, click here to watch this video if you’d like a quick summary of some of my best investment and financial tips >>

I hope you’ve enjoyed this edition of High-Income Skills weekly.

Remember, you have everything you need to create a wildly successful life for yourself.

To your success,

Dan Lok

P.S. – If you’ve decided investing in yourself is the best option for you right now, then click here to check out the Dan Lok Shop >>

We have a wide range of digital programs that will help you take your income to the next level.

From, closing, to copywriting, to confidence, to marketing, public speaking, and much more, I’m certain you’ll find something there to propel you forward.

Want Multiple Income Streams In Your Biz? (Read This)

January 17, 2023 by Dan Lok

One of the most powerful things you can do for your business is install multiple income streams…

So, in order to help you do just that, in this week’s edition of High Ticket Weekly…

You’ll get 7 income streams you can add to your business, and if you read until the end…

I’ll show you a way to make money EVEN when people don’t buy from you.

Now let me stress something VERY important before we go any further.

DO NOT ATTEMPT TO DO ALL THESE AT THE SAME TIME.

That’s a sure way to develop shiny object syndrome and you’ll achieve very little.

So, do these one at a time.

Once you have one stream generating a solid and consistent income each month, you can move on to a new one.

Let’s dive in.

Books

These could be physical books, kindle, ebooks, and even audiobooks.

Now, unless you’re selling hundreds of thousands of copies, it’s unlikely you’ll make a huge amount of money with books.

But one thing you can use books for is to position yourself as an authority in your marketplace, niche, or industry.

Books can open up a world of opportunities that may not exist without them.

When I was starting out as a copywriter I had a client hire me just because I had written a book.

If you’ve never written a book before, and you want to know how, then check out this 5-minute video I recorded for you >>

Digital Courses

Digital courses have completely changed my life and business.

I’ve sold tens of millions in digital courses in my career.

In fact, my High Ticket Closer Certification sold over $10 million alone.

Digital courses are a great way for you to showcase your expertise, and get it into the hands of people all over the world.

They’re easily scalable, and you can also use them as a down-sell for people

who can’t afford your high ticket coaching or consulting.

Here’s a great video by a 7 figure course creator on how to create an online course that SELLS >>

Membership sites

Here’s another way you can sell your digital courses and expertise.

If you have multiple courses or one big course, you could charge a monthly or annual fee for access to your content.

You can give them all the content at once, or drip-feed it over time.

They’re a great way to build recurring revenue and are one of my favorite income streams for this reason.

Here’s a value-packed video on how to create a successful membership site that generates passive income for you every month >>

Events

Events are something we’ve been doing a lot of recently.

We run the S.M.A.R.T. Challenge™ a few times each year which is a completely virtual event.

We’ve been running live in-person events at the Vancouver Club, as well as hybrid (in-person and virtual events), such as High Ticket Mastery™.

Events are a great way to connect with your audience, and get a revenue boost…

But you can also use events as an opportunity to upsell your audience to your high ticket coaching.

So they can be VERY lucrative if done right.

If you want tips on how to plan and run a successful event, then click here to watch this quick 7-minute video >>

Coaching/Consulting

This income stream is your bread and butter, but if you’re only doing one-on-one coaching at the moment, you may like to consider adding group coaching to your offerings.

Coaching sessions can be in-person or even online, as I’m sure you’re aware.

But here’s another coaching/consulting income stream that may surprise you.

VIP Days

This has the potential to be a HUGE payday for you if you set it up properly.

Businesses routinely pay me $70K for a day of my time.

During a VIP day, you would be consulting or coaching for the entire day, helping businesses solve problems to generate more revenue or coaching their staff, etc.

Here’s a 6-minute video on how you can make BIG money with VIP days >>

Speaking

Speaking is the highest-paid skill in the world.

Now obviously, you could speak at your own events, but you could also speak at other people’s events, businesses, and engagements.

Your options are charging an upfront fee, or if the opportunity exists, you can speak for free and sell from the stage and make money selling your programs or services.

If you want to know how to make BIG money as a speaker, then watch this quick 7-minute video here >>

If you’ve read this far, then congratulations.

As promised, here’s a way you can make money when people don’t buy from you.

It’s called affiliate marketing.

When I was younger I had very successful affiliate marketing businesses, and I still do affiliate marketing to this day.

So why is affiliate marketing so powerful and worthwhile?

Mostly because all you have to do is direct traffic to the offer, while the company takes care of fulfillment and customer service.

It typically takes a while to build up a solid affiliate income, but once you’ve got it to a certain level, it continues to grow and it’s money that comes in each month on autopilot.

I’m not going to link a video for affiliate marketing, because I don’t want you to become an affiliate marketer as such.

Instead, if any products you use and believe in have an affiliate program, you can begin promoting them.

So there you have it.

8 streams of income you can install over time into your business.

Don’t forget, only work on one at a time or you end up shooting yourself in the foot.

See you next time,

Dan Lok

P.S. – As I mentioned earlier, online courses are one of my favorite income streams.

This is why I’d like to invite you to a private masterclass where I show you how to get paid for who you are and what you know >>

It’s the fastest way I know of to turn your knowledge into a solid stream of recurring income.

Click the link above to get started.

High Ticket Ascension: A Guide for Beginners

January 10, 2023 by Dan Lok

Entrepreneurs and business owners are always looking for strategies to scale their businesses and increase their sales. There are plenty of ideas that work, but not all will be effective. Knowing the right business model is what can take your business over the edge.

High Ticket Ascension is a strategy that you can put into effect that can increase your profits. The ascension pyramid has to do with the customer journey and follows the 80/20 principle. This principle states that 80% of your profits should come from about 20% of your business customers.

This may sound too good to be true, but by following the Ascension Model, you can achieve this. Plenty of industries, businesses, and entrepreneurs follow this model. Here is a guide for business owners, coaches, and consultants to understand High Ticket Ascension and implement it in their own businesses.

First, What is The Ascension Model

Let’s cover the basics: what is high ticket ascension? This is a business model that’s meant to take your clients through a growth journey. In this method, as a business owner, you offer multiple products on five different tiers that should take your customers and clients to the next step of their journey.

The trick is to create products that don’t compete with each other but rather build on the previous tier. It should feel like a step forward in which clients are able to gain more knowledge or experience.

One of the ascension model benefits is that you can work with clients and customers throughout the journey, from when they start at the base of the pyramid to if and when they reach the top. You’re able to find new clients while also maintaining previous client relationships.

Who Can Use This Method?

Any business can use a client ascension method, but it’s a great way to stay competitive in the market. It’s ideal for businesses like coaching or B2B services, or are hobby related, or promote an enhanced self like weight loss.

The Five Tiers

Your ascension pyramid should have five tiers that increase in offerings as well as price. The five tiers, from bottom to top, are entry-level service, basic-tier service, middle-tier service, high-tier service, and top-tier service.

As clients choose to move up the pyramid, they pay more in price but also get a more luxurious or personalized product. Gradually, customers will filter up, paying for the higher tiers, but you’ll also have new customers entering at the lower tiers.

Have a signature program and higher tiers that build off that initial program. In this method, you can offer more in-depth programs at a higher price, such as one on one or small group coaching that can help customers solve issues they may be facing from the initial program, like weight loss or sales conversion.

High Ticket Ascension Can Increase Profits

If there’s a method that works, then why try to change it? As an entrepreneur or business owner, you’re always looking to be more successful, find new clients, and increase your profits. To do this, you need the right strategy.

There is a way you can improve the customer journey and your profits. Plenty of businesses use High Ticket Ascension, so why can’t you? Paired alongside quality product offerings, you’re guaranteed to see growth in your customer base and bottom line.

Ready to take your business to the next level? Take a master class on getting paid for what you know, plus more strategies and tips for becoming the best in your business.

Borrow These 3 Powerful Premium Pricing Strategies..

January 10, 2023 by Dan Lok

In previous, we’ve covered a vast range of topics to help you build and grow your expert business.

Today, we’ll discuss one of the most important factors that determines your profitability and success.

PRICE.

Done right, you’ll create high margins and boost profitability.

Done wrong, you could see your business fail almost overnight.

In fact, in some cases, price can even become a marketing strategy.

So let’s dive in.

First, let me ask you…

How do YOU price your products and services?

If you’re like most people, you look at your competition and charge something similar.

This may seem like a smart thing to do because it keeps you “competitive” in the marketplace, but is that really true?

Personally, I don’t think so, and if you want to know why this is a bad idea, then click here to listen to this short podcast >>

Why Smart Brands Command A Premium Price

At the end of that podcast, you will have heard me talk about charging based on your value, and we’ll dive deeper into that in just a moment…

But before we do, I want to share with you how smart brands COMMAND premium prices.

If you take any high priced item, what’s the first word that comes into your head when you hear their brand name?

Most likely you’ll think expensive, prestige, high quality, status, etc.

That’s the kind of thing I’d like people to think when they hear my name.

And your brand should be no different.

(If you want to a crash course branding, please refer to one of my previous newsletters.)

In fact, studies show that people actually enjoy paying higher prices.

And in this video, you’ll discover a groundbreaking wine experiment that will give you more confidence in charging higher prices >>

3 Pricing Strategies To Price Your Product Or Service

In this video I discuss 7 different pricing strategies >>

One of which to price yourself is by the hour.

This is a bad idea if you want to scale your business.

3 of my favorite pricing methods in that video are…

Price to Package – you create a package and price it accordingly.
Price to positioning – you’re paid for your positioning in the marketplace.
Price to value – you’re paid for the value you bring.

I strongly recommend you choose one of the 3 strategies above.

They’ll make business far easier and more profitable.

To discover how to price your services based on value and why people will pay you what you’re worth click here >>

How To Charge What You’re Worth So You Can Hit Your Revenue Goals

Charging what you’re worth isn’t only important if you want to hit your revenue goals…

It’s also important for your clients.

If you watched the video about how smart brands command premium prices, you may remember the wine experiment and how high prices changes your client’s psychology.

It’s also important because if there’s no skin in the game, there’s no game.

The more you charge, the more seriously they’ll take the transaction and relationship, and quite possibly, the better results they’ll get.

In this video, you’ll discover how much you should charge so it’s a WIN/WIN for both of you, and how much your time should be worth to hit your revenue goals >>

How To Sell More With Contrast Pricing

FAIR WARNING: You’re about to discover a very sneaky pricing strategy that will help you sell far more of your products and services.

I call it the 3 box method.

Now there’s a reason why we use 3 options and not just one or two.

There’s a reason why we create these offers in such a way they almost always choose the middle option and not the most expensive option.

To find out exactly why and how this contrast pricing method works so well, click here >>

In our business we have multiple offers and use the 3 box method when we present to our prospects, and it works very well for us.

How To Raise Your Prices Without Feeling Nervous

I’m not going to lie…

Raising your prices can be intimidating, which is why people don’t do it more often.

When I was in my early twenties I raised my price from $1K to $10K in just a few months…

But don’t get me wrong, I was doubtful and scare of raising my price by even 10%.

So, if you want to know how to raise your price without getting nervous, and hear the funny story about how I made it work despite being doubtful, then click here >>

The Real Cause Of Price Resistance

It may surprise you to learn that all price resistance IS NOT in the mind of the client.

So to close this newsletter out, I want to share with you where ALL price resistance comes from >>

I hope you’ve enjoyed this newsletter on pricing.

The content inside should empower you to choose the right pricing strategies for your business and increase your prices ethically and still have people pay them.

To your success,

Dan Lok

P.S. – Our exclusive 3-day live event High Ticket Mastery™ kicks off in just a few weeks.

By the time the event is over, you’ll have a “done list” NOT a “to-do list” of tasks already completed, and you’ll be well on your way to taking your business to multiple 6 or 7 figures.

So if you struggle to create and sell irresistible high ticket offers, then click here for the full scoop >>

The REAL Reason Most Never Succeed..

January 7, 2023 by Dan Lok

Previously, we discussed why high-income skills are so vital for you to quit your job and make the income you want, and set your life up as you wish.

I recommend reading that newsletter after this one if you haven’t seen it because I dove deep into multiple high-income skills to give you some clarity.

I truly believe in high-income skills because they’ve changed my life and the lives of my mentees and clients.

FAIR WARNING: This article is more of a motivational pep-talk you may need if you’re serious about changing your life. If you’re not serious and committed to changing your life, close this newsletter now.

If you are serious and motivated but haven’t gotten started yet, you may like to skip to the P.S. for the quickest way to get started with a high-income skill.

Why Most Never Escape The 9-5

In short, most people want things easy.

They want it all at once.

Successful people on the other hand know things take time, and their willingness to put in the work upfront.

They know how to play to win >>

I always say “Poor people do what is easy, that’s why their life is hard. Rich people do what is hard, that’s why their life is easy.”

Achieving greatness is never easy, and my mentor Dan Pena explains why here >>

How to Get A High Achiever’s Mindset

Your actions give you your life results, but it’s your mindset that makes you take successful or unsuccessful actions.

The key to success is retraining your mind >>

In the video above, you’ll see me coach one of my mentees to overcome crippling self-doubt.

It’s a truly amazing video and I’m so proud she broke through in front of over 1000 closers at one of our private events.

It may seem like some people are born with a high achiever’s mindset, and to a degree that’s true.

But, even if you weren’t born with that mindset (I wasn’t), it doesn’t mean you can’t get it.

If you want the mindset of a high achiever, then watch this video >>

How To Achieve Anything You Want In Life

I tell my mentees, “Never doubt yourself, doubt your skills”.

It doesn’t matter what you want, you can achieve it with the right skills.

If you doubt yourself right now, then click here to watch this 3-minute motivational video I shot for you >>

If you look at every successful person, you’ll see they got their start with a high-income skill.

Grant Cardone is a master salesman…

Russell Brunson is an expert marketer…

I failed at 13 businesses because I had no high-income skills.

I developed just one high-income skill and turned my life around >>

That skill gave me the power to start multiple online businesses and achieve great success.

How To Motivate Yourself To Take Life-Changing Action

No one can motivate you but you.

You can draw inspiration from others but when it comes to taking action, you’re the pilot.

Here is one of the most powerful videos on how to motivate yourself I recommend watching if you lack motivation right now >>

Time is my biggest motivator.

Because life is short my friend >>

You only get one shot, and you don’t want to waste it.

In this video I share one word that will motivate you to take action on your dreams as early as today >>

As Morpheus says “I can only show you the door, you must walk through it.”

I can only tell you want you need to do to escape the 9-5, you must put in the work.

And I hope one year from now you can look back on this newsletter and say…

“I’m happier and in a far better position financially than I was back then.”

To your success,

Dan Lok

P.S. – As you now know, my first high-income skill was copywriting, and if you want to get started as a copywriter, click here >>

As I progressed on my journey, I began developing my closing skills.

It was a way for me to improve my English, gain confidence, and also increase my income.

If you love connecting with people on a deeper level and you’re looking to get started as a closer, then click here >>