Dan Lok

How To Find Your Signature Speaking Style

April 24, 2019 by Dan Lok Leave a Comment

“All public speaking is, is speaking to one person at a time in front of many people.”

This is just one of the million dollar speaking tips from ForbesSpeaker Deborah Patel. She’s the secret weapon, coach and mentor behind many of the world’s best-selling authors, experts and leaders of Fortune 500 Companies.

I asked her, “How to develop your signature speaking style so you can connect on a deeper level with your audience?”

The advice she gave provided the tools to become a speaker at the professional level, starting with how to work the room.

Watch this video about Deborah Patel’s Signature Speaking Style Tips.

Having The Personal Touch

She said that great public speaking is having a conversation with one person at a time in front of many people. As you make a connection with one person, you move on to the next person at the next table or the next section.

You make eye contact like you’re touching – making contact – as you work your way across the room.

Stay in one direction, and don’t go back and forth like you’re watching a tennis match. You want to give the impression that you are open and vulnerable, sincere and genuine, and humble. Especially in Asia where being humble is key to gaining trust.

You want to be sincere and have a connection with the audience by being able to feel what their concerns are. If they have a question they need answered, you can sense it.

The last impression you want to give is that you’re speaking to sell them something. Instead, you’re speaking to serve a need, and people will recognize that purpose through your connection with them.

If you have that sense of connection, then with one glance, even to someone at the back of the room, you’ll know that person is with you and following what you’re presenting.

Your true mastery as a public speaker shows when you are speaking in front of thousands and you can be flexible. Flexibility is key when you have audience participation.

Audience Participation

When you have a presentation in front of 5,000 to 10,000 people, you can do your opening and cover your main points and issues with the entire group. Then in the middle of your keynote, you can open it up for questions.

It’s a bit dangerous because you have to really know your content. You don’t know what the audience may ask. But for Deborah, it’s both scary and fun to do something like this, as long as you know your material.

When it comes to presentations, you can use questions as a way to break up the presentation or check in with the audience. For example, at some point in your presentation you can open it up for Q and A.

If you find people aren’t responding, then you ask then to take a moment to get a partner and share their top takeaways from the last 30 minutes.

It may require people to step outside of their comfort zone to have that discussion, depending on how you structure it. You might even have had an activity that requires people to practice a concept from your presentation.

Then you ask the group to share what was discussed in the group or partner activity. It’s a way to engage people and show that you’ve been listening when you ask them if they have questions.

Having a high level of confidence is necessary when you open up your presentation to questions from the audience. It’s also necessary when you are selling to them.

Presentation Confidence and Control

I’ve done platform selling – speaking on the stage to promote a product or service. Your presentation has to be practiced or you’ll lack confidence.

Deborah’s advice for those who sell from the stage is to aim to have more polish. If you’re not confident enough, then your insecurities will show. So when you’re more practiced, then focus on serving the needs of your audience.

I couldn’t agree more. I teach my students in the High-Ticket Closer ™ Certification program to speak with confidence in their voice. If you don’t sound confident in what you’re selling, how can prospects be confident in what they are buying from you?

Someone that Deborah has worked with is T. Harv Eker who is a master of selling from the stage. His style was to push people and irritate them for their own good to get them to buy. He needs that tough attitude to get people to move forward and take the next step.

These qualities are not easy to master overnight. When it comes to speaking and presenting, it takes “many masters to make a masterpiece.” If you’re a lifelong learner, you’ll take pieces from all the greatest presenters that you know, whether it’s T. Harv Eker or Tony Robbins to get the results you need as a speaker.

How To Act Natural In Front Of An Audience

Deborah studies how to be a coach, a facilitator or a trainer for those moments when she’s in front of the room and she needs to put people in a training exercise to master their speaking skills.

She says that what you want to do is reverse engineer everything by starting with the end in mind. You want to ask yourself how you want your audience to feel, what stories you want to tell, and what words to use to get the effect you want.

You’ll also vary the volume of your voice. Lower it, like you do when you’re in a conversation. The lowering of your voice happens naturally when you’re having a conversation or when you’re speaking with your loved ones. You also use that voice when you’re having a good time.

You want to master the volume of your voice and the effect it will have on your audience.

The problem is, when people get on a stage or they get in front of a camera, they stop being natural. Their self-consciousness kicks in. So what Deborah does as a coach is build a tool kit that people can use when they need them.

An example of a tool is when you’re in sales and you have people imagine what it would be like to paint the vision. When you’re creating the vision you need to be seeing the vision of say, financial freedom. Then your emotions create pictures, and your emotions need your voice to create this mood in the audience.

Developing A Sixth Sense

When you’re talking in front of people, then you’re reading them. You’re going to feel what they need to hear. That’s the genius of it.

As you speak more and more, you develop this sense of what’s happening in the room. You could be a room of hundreds and you’ll notice that a group at the back, having a roundtable discussion, has a question that you should address.

It’s this sixth sense that you develop when you make a lot of presentations.

It’s a matter of being present with the room. You have to know your material that you’re speaking about, and be comfortable with yourself and speaking in public. Otherwise, you will not achieve this sixth sense level of awareness about your audience.

You will also have to give up on the idea of giving perfect speeches or presentations. You want to be in control and precise about what’s happening but you can’t control everything. There are things you can control, like technology, like the mic, the sound system, and your opening and pacing, but you can’t control everything.

Perfecting Your Signature Speaking Voice

When you’re closing, then depending on what you’re offering, you want to be very careful about the words that you are using to close people.

So if you are not natural at public speaking, then you have to practice it with that intention, that you are honing in very specific speaking skills.

If you want to get better at perfecting your message, then practice the speech of someone you admire. You can also try to copy a motivational speaker. Just choose a speech to copy. For example, practice delivering the last three minutes of Martin Luther King’s speech. Imitate how the other person speaks.

Later on, when you get better at it, then you can start to develop your own style after you’ve learned the basics for good public speaking. So like learning how to sing, copy six different artists that you like and then your own signature style will start to emerge.

Final Words: Finding Your Signature Speaking Style

If you’re not comfortable speaking in front of an audience, then work on developing that talent. Having that magical amount of eye contact, that natural volume in your voice is very important when making a connection with people.

As a lifelong learner, you can start by imitating the speakers who you admire, and then when you improve, start developing your own style.

Know your material well so you can be comfortable giving up some control, for example, when you ask the audience to ask you questions.

When you have enough practice with speaking in front of large groups, you’ll start to develop a sixth sense – you’ll feel what the audience is feeling. All of these are characteristics of a master speaker.

What do you do to connect with an audience when you are speaking? Comment below.

How to Create the Story of Your Own Personal Brand

April 22, 2019 by Dan Lok

Never start at the beginning. Always start from some point halfway to the top, and work your way backwards. Now you might be wondering what I’m talking about.To create the story of your own personal brand, to be like the book that people can’t put down, you begin with climbing up the mountain.

You see, back in my early days as a copywriter, people didn’t even think I could succeed in business. And before that, when I was in high school, no one wanted to talk to me. So I don’t want to start my story there.

But now that I am a multi-millionaire, a business magnate, internet celebrity and global educator with students and fans around the world… people want to hear my story. They want to know how I became successful, and how I’ll take my success to the next level.

And now that I’ve reached this point and I’m still climbing up, people want to learn how I did it, and they can relate to how I started. They can relate to how I used to struggle to begin my career because that’s where many people are now.

This is a good place to create your story – when you are successful, and people are hungry to know how you got here from your humble beginnings. So this is how your create the story of your personal brand, using one of the following character types.

Watch this video about creating a story of your own personal brand.

The Reluctant Hero: Forced Into Action

People love a good story, and this is how you reel them into your brand, and from there, to build trust in your business.

The first character type is the reluctant hero, the person who is just like us until something extraordinary happens to him. Peter Parker was just a regular teenager, into girls and from a regular family until a radioactive spider bit him.

His life wasn’t the same after that – he had enhanced strength, speed, and reflexes. Special powers to help others. It was his uncle who said, “With great power comes great responsibility.” But Peter didn’t want extra responsibility. He just wanted the power.

Peter changed his mind when he let a thief escape and his Uncle Ben tried to stop the thief instead. When the thief killed his uncle, Peter realized the full meaning of his uncle’s words. Peter became the hero Spiderman whose mission was to find his uncle’s killer and to fight crime.

That’s the reluctant hero. A regular person with flaws just like everyone else but that hero must leave their comfort zone to make a difference in their world. It’s a formulaic storyline we’ve seen in many movies and books and it works. These characters could be any one of us.

Frodo Baggins, a hobbit from The Lord Of the Rings has no special powers and no aspirations to change his life, yet he gets sucked into an epic journey. He meets many fanatical and spectacular characters as he faces extraordinary adventures, but after all that, he’s still just a regular character.

The reluctant hero is a proven storyline that captivates.

The second type of character is the exceptional man or woman who overcomes great obstacles.

Exceptional Person Who Overcomes a Challenge

People are intrigued by characters who are good at what they do. They also love underdogs who thrive against all odds and the skepticism of others. Here’s a real life example of how someone without limbs overcame a huge challenge.

Nick, a famous motivational speaker without arms or legs, inspires millions and millions of people with his positivity. He’s an exceptional man who’s overcome challenges everyday.

For us, brushing our teeth is a simple task. For him, it’s a big challenge but he’s overcome it. We’re inspired by people like him. If you search for him online and study the message he’s trying to convey, you’ll noticed he’s narrowed down his message to mostly Christian-based philosophies. He’s found his audience.

Another example is one of the highest paid motivational speakers in the world, Tony Robbins. At one point he was overweight and broke, living in a one bedroom condo, until one day when he got sick of his life. He went for a run along the beach, then wrote in a private journal, “No more!”

Tired of who he had been, he wanted to work on himself and his psychology. He wanted to inspire others and started doing seminars on personal power. He taught people how to master’s psychology… and that brings us to where he is now. Successful and a household name.

It’s a familiar storyline.

Us Versus Them

The third type of character is us versus them. It works well because it’s based entirely on the fact that we as human beings create our own belief systems based on completely irrational beliefs.

Let me give you an example. Usually we like to blame our problems on others so it’s us versus them. When you meet someone and you both don’t have anything in common yet you have a common enemy, that instantly bonds you. You have the same enemy.

So hypothetically let’s say I don’t like Donald Trump and you don’t like Donald Trump. When we watch him in the election, we instantly have a common enemy. We can talk about a lot of things including his hair.

Here’s another example. Let’s say I am selling natural herb supplements online. I can easily talk about how in the past I wasn’t very healthy so I was overweight and sick a lot. I tried Western medicine but it didn’t quite work for me. Then I stumbled on Chinese medicine.

Then in my journey I discovered these supplements and they are amazing. I have this mission I want to share with you so I put together these products and I set up this company. Now we are fighting against these pharmaceutical companies.

They actually don’t want you to get well because if you get well you won’t buy their medicine anymore. I want to focus more on prevention and that’s what these supplements do.

A Formula For These Stories

So with these stories, you can see there’s a formula. When you use an us-versus-them storyline you stumble upon a secret. The secret proves there is a problem with the market or something similar. It’s the market’s fault.

For example, in the case of the natural supplements, the fault is the pharmaceutical companies out there selling their drugs and teaching the doctors to get them to write prescriptions. You vow to fight against them and unite on your mission to solve the problem.

You emphasize that by buying your product, your client becomes one of us, the good guys. If you don’t buy the supplements, then you support the evil pharmaceutical companies. Or you buy the supplements and you become one of the good guys who fight against evil.

It’s a very powerful formula, so you want to use it with caution.

One of the things I used to do was talk about how most internet marketing gurus haven’t been there and done that. They talk about things that they don’t have firsthand experience in. So it’s us versus them when I talk about a lot of these other people, the so-called gurus who are selling information. That’s an example of what I do in my business.

Them. So that’s an example of what I do in my business.

Now, after you’ve got your character type, you work on character crafting.

How To Craft A Character

To make a character compelling and irresistible he’s got to have some flaws. Nobody likes to meet a person who is just far too perfect. The perfect family, the perfect kids, the perfect home. People don’t want that.

They want to see a bit of loss that will reveal the character’s motive, their human side. They want you to be transparent because real people have flaws. We all have flaws and we’re all a work in progress.

You sustain your tribe’s interest over time to the degree and extent that you’re willing to be transparent. If you want to have a strong character you have to be transparent. If you want to have a powerful personal brand you have to be transparent.

Look at Superman as an example. Superman is almost perfect. What is his weakness? Kryptonite. If you take away that weakness, think about it. It won’t be as fun to follow his story. You can’t kill him, he doesn’t get hurt, and he can dominate everything.

Final Thoughts On Creating Your Branding Story

What draws an audience to you is the type of character you create. The reluctant hero, who is forced to leave his comfort zone and take on a new mission. He or she is just an ordinary person, which makes this person relatable.

Another character type is the exceptional person who overcame an obstacle. We admire this person because they have faced challenges that we haven’t. They inspire us.

And finally there is the us versus them story type. We bond instantly with another person because of a common cause or belief. We take their side so we can either become the bad guy or the good guy.

No matter which character type you choose for your personal brand story, you want to have a character who is flawed. A perfect character is uninteresting and unrelatable. It would be like watching an undefeatable Superman rid his world of his enemies in two seconds because he is invincible.

Which character type is your favorite? Comment below.

Why You Shouldn’t Read Books-Implement What You Learn

April 20, 2019 by Dan Lok Leave a Comment

“Which books should I read to effectively learn? What’s the fastest way to get the most information in a short period of time?”

My mentees from around the world ask me these questions, because they are looking for that book that will grant them to success like a key to unlocking everything. But what they may not know is that I don’t read books.

I use books and that’s a big distinction. When I read a book, I’m not trying to understand everything the author is saying. I’m not trying to understand all the concepts and ideas because the purpose of learning is mastering. It’s all about implementation of knowledge.

So when you have a book in front of you, don’t read it, use it. Here are some ways that I implement what I learn.

Watch this video about why I don’t read books.

I hear people declaring that, “I read a book a day” or “I read a book a week.” In my case, read about two to three books a week. I’m constantly learning. When I read books – when I use them – I have a simple goal.

The Power Of Three

For each book, I look for three key ideas from the book that I can implement immediately. Just three. Even if I find more, I only implement three.

If I can get those three ideas from the first three chapters, I will highlight them as my three takeaways and then I’ll put the book back on the shelf. Maybe later on I’ll go back and read the rest of the chapters and implement some of the other ideas. But once I’ve got my big three, I’ve achieved my goal.

Sometimes I get my ideas from the back of each chapter, where they’re talking about action steps and summaries and resources. Those are great places to look. Sometimes I get ideas just from the table of contents. If that’s the case, I put the book away and then I implement.

So, I don’t read books. It’s not about accumulating book titles in your list of accomplishments. Being able to list off books that you’ve read doesn’t mean anything if they haven’t changed your life. That’s the big distinction I want you to get.

One of the most powerful tools you need to have in life or in business is clarity. And clarity is power. And power is the ability to take action. That’s a tremendous mindset shift.

The more you read, the more confused you get, and the less clarity you have. The confusion robs your power. If reading more gives you more clarity and gives you an increased ability to act, that’s good. That’s powerful.

Converting Information Into Knowledge

Now, the next step to gaining clarity is the big difference between 1) information and knowledge and 2) knowledge to wisdom. Let me explain. Information is just facts, data, numbers, figures, theories, and principles. There’s a lot of information on the internet, YouTube and Google.

The volume of information available to you does not make you richer. It also does not make you happier or healthier or smarter. Information is just information.

A metaphor is when you’re going to school and reading books in class. There’s a lot of information in your textbooks. This is the first stage.

Once you’ve gathered enough information, you start accumulating knowledge. You’re taking the information and you’re learning about the distinctions. You’re also applying it in a project or you’re taking a test.

After the test, you find out whether you passed the exam and which answers you got wrong. Well, you’re learning from how you applied your knowledge. That’s accumulating your knowledge. In a similar way, a lot of people read books to acquire information.

The tragic part is, many read books to acquire information and then they wonder, “Why am I reading and learning but my life is still exactly the same?”

Turn Knowledge Into Experience

The answer is simple. They haven’t converted information to knowledge, and knowledge into experience. Now how do you convert knowledge into experience?

After you’ve acquired some knowledge, you’ve got to implement by getting some experience. You may think that the only way you can get experience is if you’ve made multiple mistakes. If you make a mistake, you get to see if an idea works.

It’s how you get experience. You’re seeing the pattern of things. Let’s go back to the school example. Now that you’ve taken enough exams, you’ve also studied the same subject for many years in a row. Science and math for example.

Now you see a pattern as you gain more experience of what works and what doesn’t. Experience is much more valuable than knowledge and knowledge is more valuable than information.

Books themselves are just information. Information does not change your life. You’ve got to give it meaning by converting. You need to gather it and filter it into knowledge. Then from knowledge, you implement and turn it into experience.

Wisdom Is Simplification

When you’ve been working with experience long enough, it evolves into wisdom. There’s a big difference between information or knowledge and knowledge versus wisdom. I don’t consider myself to be a super smart guy. People label me more as a wise man.

I’m wise because I’ve done a lot of things and had a lot of experience. In contrast, a lot of people are smart but they’re not wise. Wisdom is something completely different. Wisdom is knowing what not to do. It’s also knowing when you don’t have to do something.

That means if you have enough experience, you know how you’re going to make something work.

My experience tells me, these are the 20 things that I could do to make me successful. Wisdom is knowing, “Okay, 19 of these things are useless. Just do this one.” That is the difference. Knowledge is about accumulation. Wisdom is about elimination.

It’s not about daily increase, it’s about daily decrease. Eliminating what doesn’t work, for example. But you cannot gain wisdom without knowledge. You cannot obtain wisdom without experience. You have to go through all of that. After you finish those stages, you can simplify everything that you do.

In fact, there are only a few things that you need to do to get you the results. You don’t need to do a hundred things. You can do a couple of things and do them well. Most people are smart but not wise. You can tell by the way that they communicate because it lacks a lot of depth. It lacks wisdom.

It’s all about taking ideas and turning them into information, converting information into knowledge, then turning knowledge into experience. I filter my years of experience and condense that into the wisdom that I have. This is what works for me. It might work for you.

Swimming In Deep Water

So it’s not so much a question of, “Oh what books should I read, Dan?” Or, “What’s the best way to learn?” Those are very superficial questions. You need to go deeper than that and go beyond reading books.

You want to take the information that you read, implement it in the real world, and see what works. There are many stages of learning.

When you start applying, that’s when you find out what works and what doesn’t work for you. You can read about how to swim but you aren’t really learning until you are swimming laps back and forth in the pool. After that, you can swim in the lake because you have experience.

Now when you have wisdom, you can go and swim in the ocean but you also know it’s better not to because of the sharks. That’s wisdom.

Final Thoughts On Why You Shouldn’t Read

Now you know why you shouldn’t just read books. You should use them. Implement what you learn. If you read hundreds of books but your life is the same, then all that information hasn’t benefited you at all.

Knowing that, ask yourself now, How are you going to change the way that you learn? How are you going to change the way that you read books?

Most importantly, how are you going to change the way that you accumulate true knowledge, true experience and wisdom?

What is one idea you will implement today? Comment below.

How To Manage People And Be A Better Leader

April 10, 2019 by Dan Lok Leave a Comment

“People may hear your words but they feel your attitude.” – John C. Maxwell

When it comes to managing people, the most important lesson I’ve learned is that people are not manageable. If you want to be a strong leader, the best way to lead your team is to give them independence.

In other words, instead of “micromanaging people,” where you are managing all the details of each person’s job, you need something more efficient. Micromanaging is exhausting and you will not be able to do that as your company grows and you have more people on your team.

So, instead of micromanaging, create structure and create systems where you are painting a picture, creating that yellow brick road. Show them the path that you want them to walk on. What I’m going to show you are some tips on how to manage people and be a stronger leader.

Watch this video on how to manage people and be a better leader.

Give Team Members Room To Grow

Your job as a leader is to coach people toward success, however they define it. It could be in terms of finance, status, or their role within a company. That if they follow this path, they’re going to get to the goal that they want.

If you hire the right person, very often, they will find the right role for themselves within the company. You shouldn’t set in stone the position that you hired them for. As time goes on, you may discover other talents that they have.

Within my company, you can have someone starting at a very junior position and they could move up to a very high position because depending on their talent and work ethic, they could grow.

For that reason, I don’t pigeonhole my team members. I don’t hire for a very specific role and then tell them that’s all they are going to do for me. People evolve, so they may develop talents over time.

So to me, I am not as interested in hiring someone for a particular skill set. What matters more are three qualities that cannot be taught.

Loyalty Matters More Than Their Resume

I always communicate to all my team members the three qualities that I look for as the CEO. The first is loyalty to the leader, the brand, and the customers.

I don’t care how talented they are, I don’t care how good their resume is, nor do I care how smart they are. If they are not absolutely loyal, that person is not someone you can have long term in your company. They might leave you for your competitors or steal your customers.

The second quality I look for is harmony.

A Players And Team Players, Not Lone Wolves

You want to have harmony on your team, so you want to find people who work well with other team members. You don’t want a lone wolf. The chemistry between your team members is important.

Even if they are talented A Players, if they don’t work well with other people on the team, they’re not going to last. So harmony is very critical.

It doesn’t mean they have to like everybody or hang out at a company barbecue. But during work time, they have to be able to get along with other people to accomplish certain tasks. Harmony is very critical.

Those are the two things I look for in team members: loyalty and harmony. The third and final quality I look for is results.

High Level Results

I want to know if the team member has the capacity and the experience to perform their tasks at a high level. Can they produce results and not just talk about results? And can they produce results on a consistent basis?

Sometimes you hire people and they may be able to perform results at the beginning, but they’re not consistent over time. Or sometimes, you bring them in for a certain job, and you notice that after three years, the job has outgrown that person.

They could produce results before, but they can no longer produce results. Now here’s what happens if a team member has loyalty, harmony, and results, but not necessarily in equal amounts.

The Right Combination Of Qualities

Phenomenal Results

If you have someone that is phenomenal at producing results, but they are not loyal, they don’t work well with other people on your team. What I usually do is I hire them as independent contractors.

They’re very good at accomplishing a certain task or project and that’s it. They’re not going to work within my company and they’ll never rise up to key leadership positions.

Absolute Loyalty

But if someone is very loyal to the organization and they work well with other team members, but they are not results driven, I have a place for them in my company. It doesn’t matter that their results are only okay.

They probably work in customer service, support, or accounting. I can trust them and I need those roles as well.

Career Driven

Now here’s another combination. If someone is not loyal, but they could produce results and they work well with other people, we’ve got a problem. It means they have good people skills, but they’re not loyal to me.

That kind of person I keep at a kind of middle management, director level. They might lead a little team, but I will never promote them to the top because loyalty is a problem.

It could turn out that we work together for six months, up to three years, and then they jump ship to work for somebody else. So I don’t want to promote that person to a leadership position.

Perfect Fit

On the other hand, if someone is loyal, works well with other people, and produces results, and they are lifelong learners, then it doesn’t matter where they came in within the organization. I can promote them to the top.

Given time, they will hold an executive position in my company. Their background and their age don’t matter to me. If they have all these three things, they become one of the key people within my global organization.

When you’re hiring and when you’re managing people, ask yourself these questions. Think about where your people are at. Now, if you have some people that aren’t loyal, don’t work well with other people, and don’t produce results for you, guess what you should do?

Fire them! No point hiring them in the first place either. You don’t want them in your organization. What you want is someone with the right amount of loyalty, harmony, and results.

Key Thoughts On How To Become A Better Leader

Running a business is simple. It’s people that are complicated. They don’t want to be managed, and they don’t stay static. They constantly evolve, so when you hire someone for your team, you want to be flexible because as the person grows, their role in your organization may change.

To decide if someone is a good fit for your company, measure them against three key points. Are they loyal to you and your brand? Is there harmony between them and your other team members? And does that person produce results?

Ideally they have a mix of all three traits, but even if they don’t, if they are loyal, you can find a place for them in your company.

Do you think loyalty, harmony, and results are important to your organization? Comment below.

Why Aren’t You Delegating?

April 3, 2019 by Dan Lok Leave a Comment

(Stop Being a Control Freak in Business)

How comfortable would you feel about asking your friends and family to do a favour for you? How about asking a stranger on the street to help you with a task?

Now you might or might not feel comfortable with asking other people for help. But most entrepreneurs are very reluctant to delegate tasks. And it’s usually because of two reasons.

One possible reason is that you’re the type of entrepreneur who is a control freak. You don’t want to give up your authority. Another possible reason is you are afraid the person doing the task will make a mistake.

As a result, you become a one-person business doing all of the work yourself, working until exhaustion, with no time to reflect on how to move your business to the next level.

However, the sooner you start delegating, the sooner you can grow your business.

You don’t need to be a CEO or the boss of a couple of employees before you start delegating. Sharing the work will ease your workload and free up your time for other tasks, like planning out the direction of your business.

You can start delegating as soon as you’re ready. You don’t even have to wait until you’re rich.

Have a look at my business for example. People tell me because I’m rich, I can delegate. But the opposite is true. It’s because I delegate that I’m rich. It’s a chicken and egg thing.

So if you have your own business and you aren’t delegating, start now.

Here are some tips to motivate you to be less controlling and more at ease with delegating to other people.

Watch this video on why you should be delegating more for your business.

Start With The Right Mindset

If you don’t have the habit of delegating now, you won’t be making the money to maximize your time. And if you don’t have the habit of delegating now, you’re not likely to be delegating when you have more money.

One reason why you’re not delegating is because you’re thinking about saving. You want to wait until the future when you can afford to start paying other people to do tasks.

The opposite is true. You’ll start saving money when you can afford to put money aside. To make enough money to put some aside, you need to free up your time to work on generating more revenue. You can’t do that if you’re saving money by doing all the routine tasks yourself.

You need to start developing a millionaire mindset now.

Right now, for every dollar that comes in, you want to set aside ten cents. You’re cultivating a habit early on. Then when you have a hundred times more money, you’re already used to saving a bit of everything you earn.

So start the habit and delegate small tasks. Let your less important responsibilities go gradually and as you get some good experience working with others, keep delegating more from there. If you’re still reluctant, it might be because you have limiting beliefs.

Why You Aren’t Delegating

What’s holding people back from delegating? They can come up with enough reasons to last a lifetime.

For example, they think they can do the job better themselves. They don’t trust others to do it because the other person might make a mistake. Or the other person isn’t qualified to do it or they already have enough to do.

Or they believe they are the only person on this planet who can do it so they can’t ask anyone else to do it.

All of those reasons are nothing more than limiting beliefs. None of it is true, and having those beliefs doesn’t help your business. You don’t get anything done, and you stay on the hamster wheel.

There are some tasks that you can delegate to others.

Responding to emails
Responding to customer service
Scheduling business and personal appointments
Writing to new prospects
Bookkeeping, graphic design, website development
Travel arrangements

All of these tasks and more, you can delegate to other people. If you aren’t delegating, there are four big fears that are holding you back.

1. Fear Of Losing Control

You fear what could happen if you lose control. Maybe the other person will make a mistake and it will cost you time or money to fix.

You fear you could be rejected if you ask someone for help. You’re worried that this person will think you’re incompetent because you’re not doing the task yourself. Or you’re inadequate.

This is especially true of men. Women are more willing to ask for help. Men are taught to be strong and macho so if you don’t do something, you’re incompetent and you might lose your sense of honour.

Maybe you don’t fear losing control, and you’re not afraid to ask for help, but you like to watch every dollar you spend very carefully.

2. Fear Of The Cost

Sometimes entrepreneurs think the cost is too high and they can’t afford it. They want to save money. However, you need to think about how much your time is worth.

If you want to make a million bucks a year, your work has to be worth $1700 an hour. If you don’t delegate, then you’re losing $1700 an hour. Isn’t your time worth so much more?

Even if you think you can’t afford to delegate, start the habit and free up your time. You can’t be afraid of losing money, or having a bad experience.

3. Fear Of A Bad Experience

You may have tried to delegate in the past and it turned into delegation hell because the person you trusted and paid didn’t deliver as promised.

To avoid that, create a document. Provide your consultant or assistant with the information they need, the steps they need to take, and your expectations. They are less likely to make mistakes when expectations are clear.

If they still manage to make mistakes, then hire someone else. Or delegate to three people and see who does the job the best. Keep the good one and let go of the rest.

Another way to think about it is this: Have you ever had a bad meal in the past? Did that stop you from eating ever again?

For that same reason, don’t let a bad experience stop you from looking for the right person.

4. Fear Of Not Finding The Right Person

Hiring the right person is a numbers game that you won’t get right every time. In the big scheme of things, it’s not going to matter. Six months to a year from now, you’re not going to remember the minor errors. You just need to get better at filtering out the bad matches.

Here’s an example. One of my business partners had a business for 15 years. He wasn’t good at hiring or managing people.

One day, I asked him to fire everybody. He didn’t want to do such a thing because he considered his employees as friends.

The experience turned out to be a business lesson for him. All the people my business partner thought were his good friends tried to get to every last dime when they were fired. One even kept the iPad he had been given.

Employees are employees.

Hiring people is a skill. There are so many steps to choosing the right one, from filtering to coaching them to training them to develop new skills.

The way I hire people and run my company is a bit unusual because I run this virtual empire. I choose to work from home. I don’t want to commute or go to an office. When my mentees call me, I’m in my underwear, not my suit. I like to be at home.

I get up, do my morning routine, and get to work. It saves me a lot of time. But that’s a personal preference. It also means because I don’t see my team face-to-face most of the time, so I need to trust them to do their responsibilities. So when I hire, I choose people who can work independently.

Why You Need To Delegate Now

If you want your business to grow, you need to learn to get comfortable with delegating now, not in the future. Your time is valuable, so overcome your fears and start finding tasks you can ask other people to do for you. Most importantly, establish a hiring system so you create a team of people you can trust.

What tasks do you delegate to other people? Comment below.

Words of Wisdom From a Self-Made Billionaire

March 30, 2019 by Dan Lok Leave a Comment

A billionaire once said to me, “Dan, if your goal is to make a billion dollars, chances are, you’ll never make a billion dollars.”

Those were his words of wisdom, which were discouraging and confusing at the same time. What was he really trying to tell me? That I was going to fail?

I was hungry for answers from the local billionaire who was sitting next to me. He’d made a fortune in the real estate and financing business, and I wanted a role model. I was a young guy at the time and we were at the Vancouver Club. The people at this exclusive club are shareholder and families of generational wealth, so I didn’t feel like I belonged.

As one of the youngest members of the Vancouver Club, I found it was a fascinating place to meet a lot of powerful and influential leaders.

I met real estate developers, powerful politicians, tycoons, and tech entrepreneurs. The place was a gold mine of possible business mentors for someone like me who was still struggling to achieve my dreams.

I felt very privileged to have the chance to sit with this successful billionaire and learn from him. I asked him, “How does one become a billionaire like you? What advice do you have for a young man like me who is building my companies? If you were to do it all over again, what would you do differently?”

The advice he gave me wasn’t just about money or how to make it. Surprisingly, he told me that if I just focused on the money, I wasn’t going to get as far. Here is what he shared with me about how to reach his level of success in business and in life.

Watch this video for words of wisdom from a billionaire.

Don’t Set Out To Be A Millionaire Or Billionaire

Now before you start wondering if he was telling me to stop focusing on money, let me share what he said. It wasn’t what I expected.

He told me, “You know what, Dan, at first, that wasn’t my goal. I didn’t set out to be a billionaire and put that on my goal list or anything like that. Now when I was young, I had a wife and kids, and all I wanted to do was provide a nice environment for them. I wanted to provide a good education for my kids. I wanted a nice home for them to grow up in.”

He also wanted to become a millionaire. He worked hard at it and eventually, he hit a million dollars.

But he realized nothing changes that much. He still went to work. He still ate the same breakfast and he still provided for his wife and kids. The difference was, his house was now a nice house and he had a couple cars. Life was good.

But he realized that didn’t fulfil him. That old life didn’t get him excited anymore. He realized that being a millionaire wasn’t the end goal.

Grow Your Business One Step At A Time

At the time, he had good employees that he treated like family. He got to know their spouse, their kids, and before you knew it, they were a pretty big company with 100 employees. But to expand the business, he needed to acquire another company.

So that’s what he did – he expanded and then he had two companies. So I asked him how he managed all these different companies.

He said it was like having a baby – you just have one at a time. You acquire a company, and then you let it grow. Step by step, you help it, nurture it, and grow it. And then you have another company, and you nurture it and grow it.

After decades of doing that, he ended up with tens of thousands of employees and this group of companies.

Then I asked him, “How do I grow my business the way you did?”

He had grown his fortune one company at a time, but the key is he didn’t focus on the money. He didn’t focus on making a billion dollars. What he said was, “If your goal is to make a billion dollars, chances are, you’re not going to make a billion dollars.”

I asked him what he meant by that. Wasn’t the purpose of growing companies to make a billion dollars?

Love What You Do, Value Your Customers

He said, “If you love what you do, and you love your customers, your people, and your team, and you’re willing to make a difference and establish a reputation of being fair in business dealings and working with people…people will want to come back to you and do business with you.”

It’s easier to do business when people come to you, instead of you chasing them. You want people to come to you because you have a good reputation. You want to show them you care about them.

So people – your customers and your team – are what will get you to your goal of becoming a millionaire or billionaire. You can’t just focus on the money goal. You need to love the people who are your customers and your team so they will want to come back to you.

I took the advice of that billionaire and I’ve grown my organization to a global level. If a young guy were to sit down with me and ask the same questions I did as a young man, I would give him the same advice on how to become rich.

If you are interested in more advice from successful entrepreneurs, tune in to my podcast called The Dan Lok Show. Every single week, I interview successful entrepreneurs, heavy hitters, millionaires and billionaires, to bring you their wisdom and insights.

Dan Lok

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1. Fear Of Losing Control

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Why You Need To Delegate Now

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Don’t Set Out To Be A Millionaire Or Billionaire

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Love What You Do, Value Your Customers

I hope you enjoy reading this blog post.