leadership

The True Meaning Of Loyalty When Scaling Your Business

April 24, 2020 by Dan Lok

What is the true meaning of loyalty? And how does it come into play when you are scaling your business?

Simply put, loyalty in business means that you put group interest and business interest ahead of self-interest. In any functioning team, loyalty to them has to be given, otherwise, the team is unlikely to succeed.

When you are scaling your business, it usually means that your team will face changes. Everybody has to work together as a team to successfully scale the business. There has to be mutual trust and understanding between the team members and the leaders alike.

No matter how high-performing a team is, loyalty has to come first. Team culture and team unity is of the utmost importance, especially when you are just starting out and slowly scaling your business.

How well can you trust your team members? How much can they trust you? Is everybody giving it their all? Do you expect too much or too few from the team members? All these factors are a sign of good leadership and very important for the meaning of loyalty.

How can you build a loyal team that will stay with you and your business when you scale? How can you make sure to lose as few people as possible?

What Exactly Does Scaling Your Business Mean?

You might think scaling your business means to grow your business. But that’s not the meaning of scaling. To scale a business means to handle more customers, sales, and output without making too many sacrifices. You want everything to be cost-effective and reasonable.

When scaling your business is unsuccessful, you might lose employees or team members because their workload increased too much and they couldn’t handle it anymore. Or perhaps you can’t keep up with the increased demand and let your customers down.

Scaling done right means your business is growing and you can handle the growth well in all capacities. The meaning of loyalty is extremely important for scaling your business.

The meaning of loyalty has many undertones. It means to be faithful to a cause, a person, a value, a team, a brand, etc.

What Exactly is the Meaning of Loyalty?

In a team, the word ‘loyalty’ has several connotations. The team members have to be loyal, and so does the leader. There has to be trust and loyalty between all team members. And finally, the leader and the team members are all loyal to a bigger cause.

Loyalty in the business sector can be best compared to Navy Seals. When Navy Seals go on a mission, they have to trust each other 100%. Their lives could depend on it.

Loyalty and trust become visible especially in situations where something is going wrong. Let’s assume you and your team going on a military mission. You send one of the teammates to scout and they tell you there are three enemies.

You trust your teammate, so you decide to take three team members with you to take down the enemy. But your scout was wrong, there are actually 10 enemies. Now, how you as the leader react in such a situation determines if this team will live on. You have two options.

You either tell them that somebody has to sacrifice themselves and pick a person to sacrifice. This, however, will destroy the trust of your teammates in you forever. Why? Because they are seeing that you put yourself before others. If you were to do that, that was the last mission this team ever went on. There won’t be any team anymore. The loyalty is gone.

But what if you pick the second option? Instead of sacrificing somebody, you come up with a plan. You can’t guarantee that all your Seals survive the mission but you show them that you want to get out of there together. You as the leader are in the front position and the teammates are behind you. That’s the meaning of loyalty in one of the most stressful situations.

What is the Meaning of Loyalty in Business?

Now, in business, it’s usually not a question of life or death. But being a good leader is a serious thing in business. You are responsible for your team. If you make a wrong move and the business can’t go on then the income of the whole team is gone.

At the same time, each individual on the team also has a responsibility. They have to be loyal to you and your vision so the business can succeed. It only works if both sides are in.

When you want to scale your business, you need two things. A team that performs well and – more importantly – a team you can trust. The best skills in the world don’t mean anything if the basic culture isn’t there. You can’t build a high-performance team without culture.

Loyalty is earned. Earning loyalty from your team is the most selfish and most selfless thing to do at the same time. It’s selfish because you need them in order to scale, to make your business successful. It’s selfless because you allow them to be part of something bigger.

Core Values

Before you grow and scale your business – possibly even before you hire anyone – you want to know what your business stands for. What are your personal core values that you want to represent in your business?

First, you have to live those core values. If you don’t do it then you can’t expect it from your employees or team members. As a leader, you are an example.

Now, once you know and live your core values, you want to hire a few people who share the same values. It’s best to hire for attitude and train for skill. That means it’s okay to hire a person who isn’t that refined in their skill, yet. You can always mentor them and increase their skill. Hire them for their culture and values first because that can’t be trained. Your job isn’t to change people so they fit with your culture. It’s better to hire a bit slower but therefore hire the right people from the start.

When you are getting into the phase of scaling your business, it’s easy to think about everything else but team culture. The new processes and systems you have to implement, the meeting with an important partner or client…It all seems so much more important than core values and culture.

But, your core values are the foundation of your business. Everything else you do is built on top of that. So, it’s vital for your success, to stay true to those values.

Loyalty should definitely be one of your business’ core values. But why?

Why is Loyalty Important for Scaling a Business?

Think about it like this. When your team isn’t loyal, it means they will leave the company pretty fast. If something better comes up they leave in the blink of an eye. That also means you have to hire and train new people all the time.

How effective will your scaling be if you have to train new people all the time? Not as effective as if it could be when members stay with you longer.

Most businesses lose money because too many employees leave the company. Especially if there is a certain period where the employee already resigned but has to stay for a few more weeks. That’s the phase where employees are unproductive. They already resigned anyway so why should they make any effort. But since their effort is low, you lose money. So on a surface level, the meaning of loyalty is also increased revenue.

If everybody is loyal and you can trust them with their work then you can focus on other things. You don’t have to look over their shoulder all the time. Instead, you face bigger challenges as a team and everybody does their part to help the business with scaling.

How to Hire the Right People

We briefly touched on this above. To create a loyal and trustworthy, high-performance team, you must first be loyal and trustworthy yourself. You have to embody your business’ core values.

Then, you hire people for attitude and mindset. Most business owners would make the mistake to hire employees who have great skills but don’t embody the core values of the business.

But really, in any winning business culture comes first and skill comes second. So how can you make sure you hire the right people from the beginning? The answer lies in your recruitment process.

Typical questions like “how much experience do you have?” don’t help anybody. The candidate could even lie about their experience, couldn’t they? There’s no way for you to know. So what can you do instead?

You have to ask questions that go deeper. Questions that give you indicators on how the person thinks. For example, a simple conversation about morning commute and traffic can tell you a lot. Is the person complaining about traffic but still arriving late for work? Then this is likely a person who doesn’t take ownership of their actions. Instead, they blame outside circumstances.

A different person might say yes traffic is horrible during rush hour that’s why I get to work half an hour earlier. This is a person who is focusing on solutions, instead of putting the blame on others. So, that’s the kind of person you’d want to have in your team.

How to Know When to Let Go of Someone

Most people would think the meaning of loyalty is to keep a team member around, no matter what. It’s partially true. A loyal leader doesn’t let go of employees and teammates easily.

If a person on the team isn’t performing well, you should rather mentor and train them first. Give them a chance to get better and play their role for the team to their fullest potential.

However, there might be moments where you tried everything. You mentored them, gave them time and resources to grow, but it just wouldn’t work. In such a case, you as the leader have to put the group interest above the interest for an individual.

If a team member under-performs and won’t change, he or she is damaging the whole team. It’s never an easy decision but here the real meaning of loyalty is to let them go.

We understand it can be very painful to lose a team member. Especially if they go work for one of your competitors instead. Balancing the loyalty to an individual and the loyalty to the whole team is an act that’s not so easy to perform.

That’s exactly why your first job is to mentor your people to get them up to speed. How long should you mentor and train them before you decide if you have to let them go? That depends on your industry mostly. In some industries, you lose money after two weeks if a person isn’t performing. In other industries, you might have six months. It also depends on what kind of hit you can take.

The loyalty to your team has to also be balanced with the loyalty to your job. You can’t under-perform on a job to protect one single teammate. That’s why leadership isn’t easy. You are constantly balancing things.

Your Role as a Leader

What’s the real meaning of loyalty for you as the leader? We think by now you’ve grasped the idea – it’s a balancing act. You have to be loyal to the whole team, to the individuals, and to your mission. You are the one who is calling the shots and who has to notice if something is imbalanced.

As the leader, you lead by example. You can’t ask your team to do better than you do. They look to you for guidance and mentorship. Let’s look back to our Navy Seal example. What did the great leader do? He was in the front row, protecting the team who is behind him. Bad leaders use their team as a shield. Great leaders guide them.

Your actions can enhance the team culture or destroy it. You have to care about the well-being of the team but still deliver great work. Who is responsible for guiding them? You are. At the same time trust them that you don’t have to watch every step they take. You put trust in your team but if anything goes wrong, it’s on you. A false sense of loyalty could do more harm than good.

When you are able to balance the different aspects of loyalty, your team will pick it up and follow your example. They see you are a person of integrity and walk the talk. This creates a team culture that you can build on as you scale your business.

How to Enhance Loyalty

As you know by now, a basic level of loyalty has to exist from the beginning. You hire people who already have the right culture to fit with your core values. You also understand your role as a leader to lead by example and increase loyalty that way.

Still, there are some tools and techniques you can use to increase the loyalty of your team. The first and most important thing is, that everyone one the team has to understand why they are doing what they are doing. For a team to work, every member has to have meaning in what they are doing. If they have no idea why they do certain tasks then it will be hard for them to find any meaning in it.

Here’s another tool to increase the meaning of loyalty in your team. Know the goals of your team members and align those goals with the goals of your business. This allows all teammates to support the team even more. It’s a win-win situation.

Want to Scale Your Business to 6-7 Figures and Beyond?

In times like these, your team is more dependent on you than ever before. Maybe your business is seeing some decline in sales and cash-flow. Perhaps you even had to lay off some team members, so the business could survive.

Especially in times like these, it could save you and your team if you look into ways to scale your business. Start now, so your business can steadily pick up and gain momentum. This way, you can charge ahead as soon as the lockdowns are over.

Dan Lok scaled his business from zero to eight-figures, online only. Interestingly enough, he did so by doing the opposite of what most online coaches would do. He built up his online presence, created irresistible offers, and focused on providing real value.

Since he scaled his business with a system in place, all team members stayed with him. Their loyalty and effort had a huge role in his success. Never underestimate the meaning of loyalty when you scale. Nobody can run an 8-figure business alone. Create your winning team in the beginning and take them with you on your mission.

Right now you can learn all the insider secrets and techniques from Dan Lok in his High-Ticket Influencer Program. He will show you exactly what he did to build his eight-figure empire in eight months. This could be the key for your business to do well in the upcoming crisis. Learn more about the High-Ticket Influencer Program here.

10 Methods For Boosting Team Motivation During Times Of Crisis

April 14, 2020 by Dan Lok

Sara led team motivation meetings at work. And she knew exactly how to encourage, guide, and empower each one of her employees to thrive. Ben, her boss, trusted her enough not to sit in on any of them. But it also meant that he didn’t quite know how to communicate with his team during crises. For example, one day, he called Sara and said, “please pack your things, lock up, and go straight home.”

“What- wait, did I do something wrong?”

“I don’t have time to explain, Sara. Please listen carefully: lock up and go home.” And then, he hung up.

Sara was confused. Was she fired? Nothing else made sense. It wasn’t until she heard about the Boston Marathon bombings on the news that it clicked. Since her workplace was only 3 miles away from the tragedy, she understood that Ben had been looking out for her in his own way. Sara was grateful. But she also wished that Ben had provided more context. Without it, she felt lost, alone, and afraid.

Sara and Ben’s story shows us the management dichotomy that exists in the modern workplace. Maybe you empathize with Sara and feel left out of the loop. Or maybe you resonate more with Ben, struggling to connect with your team. Yet, in these times of uncertainty, leaders don’t have the luxury of time to engineer the perfect solution. So we’ve collected these ten strategies you can use to build your team during these trying times.

Should You Even be Focusing on Team Motivation During a Crisis?

In times of strife, leaders don’t have all the answers. It’s natural to be overwhelmed by all the urgent matters that are weighing in from every side. Maybe you have to contact banks and lending institutions to secure finance. Or maybe you need to put out fires with shareholders before they lose trust in you or your company. Or maybe you aren’t even sure whether your business will have a team to motivate in the long run.

But now more than ever, team motivation needs to be at the top of your list. Why? Because crises can make or break a team. When everything seems to be going wrong, your organization needs to see and hear from you more than ever. With the right words and attitude, you’ll be able to keep your team from falling victim to panic, disharmony, or rumors. And you’ll be able to guide, encourage, and reassure your team to persevere and deliver superior outcomes for the business. Teams can not only overcome times of crisis together but end up stronger than ever. So, build relationships, connect, and create a thriving work culture using team motivation.

It might be daunting to think that as a leader, you bear the lion’s share of the burden. But it doesn’t have to be that way. With the right people, an uplifting attitude, and sound advice, you’ll be able to handle any crisis that comes your way. So what can you do to be the kind of leader who boosts team motivation during challenging times?

1. Put Your Team’s Safety First

Ben did get Sara out of a potentially dangerous situation as quickly as he could. And that was the best first move he could have made. During a crisis, people need to feel safe. But if they don’t understand ‘why’ they might become their own worst enemy. Take the coronavirus crisis, for example. If everyone had taken preventative measures, it would not have spread this much.

When you share a short ‘why,’ you keep your employees from drawing their own conclusions. You will also stop any speculations and false rumors from spreading.

So as a leader, let your employees know that their safety and physical wellbeing comes before any other consideration. By doing so, you will:

Reduce their fears of having to choose between their (or their family’s) safety and work,
Reinforce that they are a relevant, important part of the team,
Ensure your team fights alongside you to resolve the crisis.

Use team motivation to communicate how and why their safety comes first.

2. Don’t Pretend That There’s No Fire When Everyone Can Smell the Smoke

Conventional wisdom says that you will spread negativity and fear if you share your worries, concerns, and anxieties. Being silent about a crisis as a leader, however, is no different than pretending that there is no fire even though everyone can smell the smoke.

So, even if you feel afraid, take time to communicate with them. Acknowledge that the situation is scary and that a lot of things can go wrong. It’s OK not to have all the answers. People want to know that you are working on them. So share your thoughts on potential solutions and opportunities for growth.

When you acknowledge your team’s fears, you are permitting them to be human. You are also giving your team motivation to keep going. These are a great way to set the tone for a high-performance team despite the crisis.

3. Be a Conduit For Your Team’s Concerns

The best leaders care about their teams. In crises, it’s particularly important to show them that you care. So, if possible, do whatever you can to be the person they can bring all their concerns to. For example, you could:

Call a company-wide meeting where anyone who has a question can ask it,
Set up an anonymous email that they can send their questions to,
Have a suggestions/concerns box placed in a central location of the office.

Encourage your team to ask you any questions or raise any concerns they might have. And then let them know that you will make an effort to answer every single issue – whether you have a team of 10 or 10,000. It might not sound reasonable or possible, but it has great rewards.

When you make yourself accessible to your team by showing up and addressing their fears, you are showing them that you are on their side. You will be the ‘people’s leader.’ They will trust in you, follow your direction, and defend you. And they will feel that they can rely on you to guide them because you are someone who cares.

Having access to all these questions also gives you an idea of what your employees need from you. That way, you’ll be able to plan future team motivation strategies.

Your team members also often know your business at a level of detail that can be missed when taking a high level view. By opening up a dialogue you can often get great suggestions from those in the trenches. In times of crisis a dozen small suggestions can add to make a huge impact.

4. Employee Engagement is Still Key

Many entrepreneurs and business owners mistakenly aim for employee happiness. So when times are good, they do everything they can to accommodate their team members. While this strategy works in the beginning, in the long run, it gives away your power as a leader. Why? Because employee happiness is a fleeting and short-lived measure of the strength of your organization.

That does not mean that you shouldn’t care about employee happiness. But rather than being a goal, it should be a byproduct of your other measurable measures. These measures include employee productivity, engagement, and contribution.

Employee engagement is particularly important for team motivation. Engaged employees tend to be more enthusiastic, passionate, and positive about their work. They tend to contribute by sharing ideas, encouragement, and solutions. They also tend to be the happiest.

If you don’t have a culture of engaged employees yet, it’s not too late to get started. To get started:

Set up problem-solving groups and give them specific, meaningful tasks,
Give your them access to relevant training,
Encourage open discussions and,
Train them to provide kind, constructive feedback and criticism.

Once you have a team of engaged employees, it will be much easier to weather the crisis together.

5. Be a Leader of Leaders

As an entrepreneur or business owner, you probably already have so much on your shoulders. You most likely have to make a lot of decisions each day. In uncertain times like these, there is probably so much more pressure on you.

If you’re struggling to be everywhere at once, develop your team to make decisions on the go. Here are some tips on how to make that happen:

Equip your employees with the tools and resources that they can refer back to,
Use team motivation to empower and train your team on ethical decision making,
Trust them to think through situations and come up with the right solutions.

And once they are ready, let them know that you will back their decisions. Stand by them. This way, you’ll have a team you know you can rely on in good times and bad.

6. Deal in Hope Rather Than Despair

Picture this: you are the captain of a ship. On good days, you can stand up on the sunny deck and give your crew directions. When everything goes smoothly, all you need is to steer clear of some rocks here and there. Your crew largely knows what they need to do, and you make good headway towards your destination.

Now, imagine a large whirlpool appearing off on one side. Your crew can’t see it from their positions above and below deck, but they can feel the ship swaying this way and that. How do you help your crew fight the whirlpool’s current when they don’t understand what’s happening?

In a crisis, your organization is very much like that ship at the edge of a whirlpool. When you know that your team doesn’t see what you see, you can change your approach. By being encouraging, clear, and concise, you could use team motivation to help them trust you. As we mentioned in an earlier strategy, don’t let fear take over. If you did, it would be no different than allowing the whirlpool to swallow your ship without a fight.

Instead, consider talking about long-term plans and projects. But do so without making any promises that you can’t keep. If you deal with hope, you’ll find yourself with a team that wants to reach new heights with you.

7. Check-In Often so They Don’t Check Out

Many businesses are still experiencing communication challenges as more people work from home. Checking-in with your employees often is more critical than ever. As you do, try to keep in mind that your employees have different priorities than they used to.

They might be worried about their family, their health, or how to get the services they need. They might have children running underfoot or elderly relatives to look after. With all these distractions, it might be easier for them to isolate and struggle alone. They may have feelings of guilt and not want to share what they are going through with work.

So do your best to check-in with your employees regularly. Ask them if they are OK and show them that you care if they are not. Make resources available to those who are struggling mentally, physically, or emotionally.

Checking in with your team often shows them that you are acting on your promise to put their safety first. It also allows you to address any other issues or concerns that might arise with the new work arrangements. No one will have to feel lost or confused for long. And when the crisis is over, the relationships you have built with your team will make all the difference.

8. Lead by Example

You may already have heard this strategy because it is a time-honored and proven one. There is no greater team motivation than having a leader you are inspired to follow.

The best approach to take is to lead from the front. Be someone who doesn’t ask anyone to do anything you wouldn’t do yourself. Be seen as someone who walks the walk. Who shows up, who shares, who cares, and who positively contributes no matter the situation. Be the first one in and the last one out.

This strategy works particularly well in combination with the previous ones. When people feel safe, taken care of, and valued, they will take note of your actions and understand that you haven’t given up on them or the business. They will then choose to work with you and alongside you with enthusiasm and pride.

9. Remember That Every Crisis Ends

As difficult as it might be to see now, every crisis does end. So set up systems and procedures that will see you through the dark times and into better times. Here are some tips that might help you prepare for the future:

Create a plan. Assess where you are right now and what you have to do to course-correct and get back on track for your goals.
Be seen. Expand your business’ reach and position yourself as an authority in your industry.
Develop your mindset. Practice gratitude and meditation to maintain a healthy mindset.

When you are centered in who you are as a business owner and entrepreneur, you can prove to your team that there is a future after the crisis. As you work towards that goal together, you’ll have a more reliable, self-motivated team.

10. Learn From Other Business Owners and Entrepreneurs

The most effective problem-solving technique is often also the most overlooked one. And that is to learn and implement best practices from business owners and entrepreneurs do to pivot. It’s easy, as a leader, to feel that you are alone. Maybe you also think that no one will understand your particular difficulties. Or that everything you experience is unique to your industry. We understand.

Dan Lok struggled alone during his early years as an entrepreneur as well. But his first mentor Alan Jacques showed him the power of collaborating with and learning from other business owners. His later success was, in large part, to the fact that he surrounded himself with other entrepreneurs.

And that was because many of them have gone through challenges and crises before. They made mistakes, but they also made winning choices. So Dan Lok was able to skip a lot of the errors and do what worked instead.

So a little known, but effective team motivation strategy is to experience it for yourself in a group like Dragon 100. High-level entrepreneurs that gather there learn and grow alongside you, no matter what.

The other benefit of belonging to a group of like-minded people is that you can finally talk freely. You can share your challenges, worries, and concerns without holding back. Why? Because they understand. They are either or have gone through the same things.

Team Motivation: Be a Leader They Can Follow

Even though the world is facing unprecedented times, with a growth-oriented mindset, a team you care about, and the right strategies, your business will be stronger than ever. So, in summary, here are the ten strategies we’ve discussed in this article:

Prioritize your team’s safety over anything else.
Assure your team that they are not alone in scary times.
Address your team’s concerns and encourage them to come to you.
Harness your team’s intrinsic desire to participate.
Train and empower your team to make the right decisions.
Show your team that you are thinking about the long-term and that it includes them.
Reach out to your team members often so that they don’t feel lost.
Be the kind of leader your team is proud to follow.
Put systems and processes in place so that you prepare for the future.
Join and grow with a group of high-level, successful business owners and entrepreneurs.

What Do All Female Billionaires Have In Common?

March 7, 2020 by Dan Lok

All self-made female billionaires in this world have their own stories of how they achieved their success. All of them have blazed their own trails, and been through their own unique journey to reach their current billionaire status. But are you curious about what they all have in common? Do you wonder what valuable traits all female billionaires share with each other?

Thanks to the advancements in technology, education, and social media, there has never been a better time to become a billionaire. More and more super-successful business women all around the world are joining the ranks of billionaires than ever before.

You might be familiar with female billionaires in America such as Oprah Winfrey, Kylie Jenner, Judy Faulkner, Diane Hendricks, Katie Rodan, Sara Blakely, Anastasia Soare, Tory Burch and more. While most female billionaires are from the US and Europe, many notable Asian businesswomen are breaking down barriers and entering billionaire-status as well.

According to the UBS 2019 Billionaire Report, “more than half of Asia’s female billionaires are self-made,” a higher proportion than anywhere else. And within the last five years, there has been a 46% growth in female billionaires. With the expansion of successful businesswomen entering the scene, female billionaires as a whole are quietly gaining a competitive edge over men.

But the big question here is, what commonalities do these successful businesswomen share to accelerate their way into the billion-dollar club? Although each of them earned their wealth differently, they all share valuable traits. Here are what all self-made female billionaires have in common.

Female Billionaires Don’t Make Sacrifices

It doesn’t matter how you define success, you and I are both well aware that it’s not a stroll in the park. Every person who aspires to achieve success in life understands that it’s not easy and requires a lot of hard work.

But a big problem I see in society is this: success comes with sacrifices. People think they have to give up the things they enjoy in life like their guilty pleasures, time with their family, hanging out with their friends, etc. The idea that success and sacrifice have to go together has been giving a very negative connotation.

“So Dan, what do you mean? What happened to hard work and sacrificing the things I like to do?”

Tony Robbins answers this question best: “If you think it’s a sacrifice, you shouldn’t do it.”

Instead, you should have the mindset that you’re actually sacrificing your success by watching TV or spending money on luxury items you don’t need, instead of investing in your business.

When it comes to achieving success, you do need to work hard and put in the effort but consider this. Picture yourself making these sacrifices:

“I can’t hang out on the weekend anymore.”
“I’m sorry, I just don’t have time to go to the movies anymore.”
“Unfortunately, I need to make sure I work at least 10 hours every day.”
“I just can’t spend money recklessly anymore.”
“I need to make sure I’m reading 30 minutes in the morning and 30 minutes at night.”

How does it feel when you’re saying these things to yourself? When you look at it from this perspective, it feels overwhelming, suffocating, and it looks like you’re sacrificing a lot, right? But it doesn’t have to feel that way.

Female Billionaires are Great at Prioritizing

Instead of sacrificing, look at everything you do as a choice and a way of prioritizing your life. Think of it this way. You’re not sacrificing your free time but you’re choosing to spend your time to improve your skill sets. You’re not sacrificing fun activities but you’re gaining knowledge by reading a book.

Female billionaire Diane Hendricks also thought that she had to sacrifice certain things in her life. But what she did instead was prioritized. She saw everything as a choice she had to make to grow her company.

When it came to spending time with her kids, she made a choice to block out weekends and certain times of day to stop working and enjoy quality time with her kids. Another simple thing she would do is make sure she and her family enjoy dinner together at the table every night.

In the life of a billionaire, you have to understand a work-life balance does not exist. It’s all a matter of how you look at your life and how your mindset shapes your lifestyle. When you have this mindset of prioritizing, you no longer focus on what you’re missing out on. Instead, you’re focusing on what you’re getting out of your life. Because ultimately success is not a destination, it’s a journey.

Success is not a destination, it’s a journey. Click To Tweet

They Relentlessly Believe in Their Vision When Nobody Else Does

All self-made female billionaires started out their journey with a vision. They knew where they wanted to go and what they wanted to do. But found it hard to get anyone to care. And what they came to realize is this: No one will support you until you give them a reason to care.

On their entrepreneurial journey, they had to overcome that obstacle. They had to accept that their journey would be lonely, in the sense that most people will not support their vision. They had to learn how to push through barriers and believe in their vision, their values, and their mission more than anyone else.

One of the fantasies many people have when they embark on their own journey to becoming successful is they expect their friends and family to support them on their endeavors.

When the truth is that no one will support you – not even your family members. If you’re someone who is used to receiving motivation and support from other people when you’re facing challenges, then your journey to success will be very hard to endure. And chances are, you won’t last very long.

Why Most People Care What Other People Think, And Why Female Billionaires Do Not

Have you noticed how sometimes people will appear like they don’t care about what other people think? If you pay closer attention, you’ll see that everyone is affected by what other people think and do.

For example, think of the girl who doesn’t pursue her dreams because she’s afraid her friends and family will judge her. Or, the guy that has been working out for years at the gym but always thinks other people have more attractive muscular abs.

As human beings, it’s normal to have that drive to be accepted and feel a sense of belonging. Why? Because we’re inherently social creatures. Today, one of the reasons why people gravitate towards belonging to a group is uncertainty. And while there’s nothing wrong with the desire to belong to a group, you shouldn’t attach your identity to a group.

Most people make the mistake of blindly adopting the belief systems of others around them instead of living based on their own set of rules. And that can become a problem when you are pursuing your own goals. Because you’re living and measuring your actions by other people’s standards and not based on your vision and values.

That’s why female billionaires learn to cultivate their own self-awareness. They understand that they cannot rely on other people. If your values don’t align with those around you, you shouldn’t expect them to understand where you are, what you’re doing, or why you’re doing it. The best person you can rely on is yourself.

Rely on your own set of values to guide you to your destination. Don’t waste your time waiting for validation from others because you’ll be disappointed. Be driven by your own personal mission and have a vision for how you want to live your life.

They Believe in Creating Their Life, Not Being a Victim in Life

Successful female billionaires understand that they are in direct control over certain aspects of their life, like their choices when it comes to working smarter and harder. Unlike unsuccessful people who play the role of the poor, struggling victim, female billionaires take responsibility for their life.

They have the ability to navigate around problems that stand in the way of their goals and refuse to let those problems define who they are. They think critically about how many different ways they can solve issues that come up. Unlike many people who freeze or give up, they will do whatever it takes to workaround roadblocks and continue to pursue their goals.

According to T. Harv Eker, one of the most important lessons when it comes to success is that “you are the one who creates your success and you are the one who creates your mediocrity.” How do people create mediocrity? They play the victim game. Eker says there are three ways to can identify a victim mentality:

Blame: Victims who like to blame will do anything to say the reason for their problem is because of anything and anyone except themselves. These are people that blame the economy, the government, their employer, their parents, their partner, etc.

Justify: Victims who don’t blame will justify their problems and rationalize by saying things like, “Money is not that important.”

Complain: Victims who choose to complain are the worst of them all. Why? Because they are so focused on everything that’s wrong in their life. And Eker believes that “whatever you focus on expands.” So if you focus on problems, you’ll get more problems. If you focus on solutions, you will get more solutions.

Female billionaires understand that challenges and setbacks are part of the journey to success. Instead of playing the victim, they think of ways to overcome challenges that stand in their way.

Female Billionaires Have an Unwavering Commitment to Create Wealth and Abundance

Do you ever hear a successful person say they will try to work harder or try to commit themselves to success? Probably not, right? The definition of the word commitment itself is to devote yourself unreservedly. Which means you’re doing everything and anything it takes to make things happen.

When people say they will try to do something, it doesn’t make much sense to me. Why? Because there is no gap between action and inaction.

You don’t have to “try” to take action, you can just do it.

For example, let’s say I ask you to run. Could you do it? Yes. You could run.

What if I asked you to not run? What would you do? Good. You don’t run.

Now, what if I asked you to try to run? What would you do? If you’re thinking you run, then that’s where you’re wrong. How can you try to run? It either you run or you don’t run. You do it or you don’t. There is no in-between.

The same applies to commitment. You are either committed or you’re not. And most people are not committed to achieving success. They always put a limit on how much they’re willing to do, how much they’re willing to risk, and how much they’re willing to sacrifice.

Female billionaires do not make half commitments. They go all in or they don’t go in at all. Their billionaire status came as a result of focus, tenacity, courage, applied knowledge, effort, and a strong billionaire mindset. As T Harv. Eker says, “If you are not fully, totally, and truly committed to creating wealth, chances are you won’t.”

If you are willing to focus on making a commitment to your success, then you’ll be rewarded. The universe will assist you, guide you, and even create miracles for you that are beyond your wildest imagination.

They are Excellent Self-Promoters

Successful female billionaires are almost always excellent promoters (or marketers). You might be wondering, “Why do they need to be good self-promoters?” If you recall earlier, does anyone care about you or what you have to offer? No.

People don’t care, and they won’t care until you give them a reason to care. Before you offer anything to the marketplace, you need to answer the question, “What’s in it for them?” Today, the way that people buy is very different from how they made purchasing decisions in the past. Consumers are more skeptical than ever. And anyone who is in the world of business understands that they are selling certainty in an uncertain world. They are easing their consumers’ minds.

This is exactly one of the main reasons why female billionaires today are so successful because they understand the marketplace. If they know their product or services can help their potential customers, they will feel morally obligated to do everything in their power to promote their products or services to serve that purpose. You’ll notice that they’re not only great marketers, but they are also great leaders.

Because to be a leader, you have to know how to engage, inspire, and persuade people to buy into your vision. Let me give you a perfect example: Think about how female billionaire Kylie Jenner is able to leverage her massive following on social media.

You might disagree. But without her ability to effectively communicate with her followers and the design of her lean business model, the success and fortune she has amassed from her new cosmetics business, Kylie Cosmetics, wouldn’t have been as successful as it was.

Don’t be intimidated by what you don’t know. That can be your greatest strength and ensure that you do things differently from everyone else. - Sara Blakely Click To Tweet

They Embrace What They Don’t Know

Three of the most dangerous words you can say in the English language is “I know that.” And the three words that might be your greatest asset is “I don’t know.” Female billionaires embrace what they don’t know. Why? Because it’s the knowledge they don’t know that allows them to make the greatest impact in their business and in the world.

If you think about it, you don’t know what you don’t know. That’s why it’s essential you continue to learn and grow. According to T. Harv Eker, “Nothing in the world is static. Everything alive is constantly changing. Take any plant that isn’t growing, it is dying. It’s the same with people as well as all other living organisms: if you are not growing, you are dying.”

A lot of the time it’s interesting to see that the people who need to learn the most are those who are broke. They’re the ones who say, “I already know that,” “I don’t have time,” or “I can’t afford it.” While millionaires, multimillionaires, and billionaires are all saying, “If I can learn just one new thing or make one improvement, it’s worth it.”

Most of the time, people are lying when they make excuses and say they can’t afford education because they don’t have time or money. What they’re really saying is, “I don’t I believe I need it badly enough.” Now for some people, they actually might not be able to afford it, but if their desire is strong enough, no price is too high.

Success at the end of the day is simply a learnable skill that’s based on applied knowledge. And it’s not so much about getting rich financially. It’s more about who you have to be in character and mind to get rich.

They Believe That Money Only Amplifies Who They Already Are

Money and wealth magnify the person you already are. Money itself is neutral. It’s not good or bad. It can only amplify the person that is using it. If for example, you use money with bad intentions, chances are you will face the bad consequences that come with it. And if you use money with good intentions, then you will see the good consequences that come with it. It’s as simple as that, as a cause-and-effect relationship.

Sara Blakely, female billionaire and founder of Spanx, says, “I feel like money makes you more of who you already were. I don’t subscribe at all to the belief that money is the root of all evil. I think money is a wonderful thing. It’s great to share. It’s fun to spend and it’s fun to make. I’ve always had a positive outlook on what money can do.”

When female billionaires have new opportunities come across their desks, their decisions are not just based on facts but also on trusting their gut instinct. And deciding whether or not it aligns with their principles and core values.

So by choosing to invest their wealth into different opportunities that are aligned with their true and authentic self, the money simply amplifies those decisions and allows them to materialize. If you look at female billionaire Oprah Winfrey, she is well-known for her philanthropic efforts and this is how she makes decisions and sees where she can “have the most impact or do the best” in the world.

They Take The Road Less Traveled to Reach the Top

If you take a look at all the female billionaires in the world, what do you realize? None of them took any special shortcut to reach their billionaire status. Some might have had an easier start than others. But overall they all had to endure a journey full of twists, turns, detours, and obstacles.

The road to wealth and success is full of dangerous traps, haters, and deadly pitfalls, which is the exact reason why most people don’t take this path. The people who take this path, like female billionaires, have an unwavering commitment to their goal. They know that whatever challenges they’ll be forced to face, they have to be willing to be bigger than their problems.

Because ultimately, as T. Harv Eker puts it, “Your outer world is merely a reflection of your inner world.” This means that how you view your problems is a reflection of how you see yourself. If you have a big problem, then you have a small mind. If you have a small problem, then you have a big mind.

The secret to success is to not avoid, throw away, or shrivel up like a raisin when you encounter problems; the secret is to grow yourself to a level where your problems are so small they look like tiny grains of sand.

So that leads me to say that this path is not meant for everyone. Some people are more content with their 9 to 5 jobs, enjoying their weekends, and living their current lifestyle. And that’s completely okay.

But some people are tired of working at their 9 to 5 jobs. They want more freedom, more money, more success, and more fulfillment in their life. All this boils down to one simple desire: they want to be a better version of themselves.

Do You Have What it Takes to Take The First Step Towards Becoming a Self-Made Billionaire?

If you feel stuck at your 9 to 5 job and you want more success, more financial confidence, and more freedom in life but you don’t know exactly where to start or how to get there, then I recommend you to first invest in yourself by acquiring a High-Income Skill.

How would you feel if I told you that you have a High-Income Skill which allows you to earn 6, 7, or even 8 figures a year in your spare time? Think about it” How much would an extra $10,000 a month change your current financial situation? How much would that kind of money change your life?

This skill is one that pays you based on how much value you can deliver to the marketplace. So the more value you deliver and the faster you deliver, the more you get paid. And the great thing is it’s an in-demand skill that influencers, businesses, and companies are hungry for.

Imagine what it would be like if you could start earning $10,000+ or more every month with nothing but a phone, WiFi, and be able to work just a few hours a day.

So what learnable High-Income Skill am I referring to? It’s a skill that I learned when I was first getting started on my journey to become who I am today, and it’s called High-Ticket Closing. If you want to learn how you can transform your life, mindset, finances, and skills so you can achieve freedom and become a self-made billionaire then click here to apply for a FREE session with one of my high-income advisors.

How Competitive Sports Develop The World’s Strongest Leaders

February 11, 2020 by Dan Lok

Did you know that competitive sports can sometimes show us the world’s strongest leaders? Are you wondering how competitive sports shape and develop a strong leader? Perhaps you’re wondering, What do sports have to do with being a leader?

Well, competitive sports develop the strongest leaders in the world. Why? Because sports are highly competitive and by nature, they push people to achieve more than their rivals. A person playing competitive sports will vigorously train to be a winner. Playing sports also provides opportunities for developing leadership skills.

Competitive sports enable people to function effectively while developing confidence and making quick decisions. On top of that, competitive sports also encourage other elements of skills that I’ll be discussing shortly.

You see, when in a crisis situation, effective leaders recognize when to behave decisively. With that said, when it comes to teams and competitive sports, it involves developing a strategy to win.

To be good at competitive sports, you need to have the ability to focus and be in the zone. Competitive sports help you get in the zone and get into a winner’s mindset.

Human beings are at their best when they’re in the zone. Click To Tweet

Playing and coaching competitive sports also arms people with the traits of being respectful among other competitors, the ability to identify strengths and weaknesses, as well as managing time effectively.

Research demonstrates that competing in sports builds certain transferable skills which can result in becoming a strong leader. Approximately 75% of people who played competitive sports believed that it gave them skills and capabilities in their workplace as well, and 40% of employers support their employees in participating in competitive sports.

Playing competitive sports builds confidence and mental toughness. Click To Tweet

Be Conscious of Your Own Thought Processes

Whether it’s sports or business, it’s the mental game that counts. Because your body is controlled by your mind, you have to imagine that your brain is the main core system, and what you believe in your mind enables you to produce great results.

Some people are gifted with great leadership skills. But what’s important here is, you must become conscious of your own thought processes, and develop a leader’s mindset.

Competitive sports enable you to execute both your mental and physical potential. Sports can help you become aware of your subconscious thoughts, and your inner motivators.

For example, let’s say you’re going to a competition. If you believe that you’re not as good as others, your subconscious mind will constantly remind you of what you believe. So, if you keep thinking that you’re not good enough – you will not be good enough.

Because you carry those thoughts with you all the time, instead of winning the game, you lose.

Now, let’s turn it around. Let’s say you have more positive thoughts such as, “ I am going to win.” Your beliefs lead you to a certain way of thinking which in turn, produces results.

Therefore, it’s important to always think of winning, rather than worrying about losing.

So, how can competitive sports develop the strongest leaders in the world?

Teamwork

Teamwork is one of the basic skills required for any competitive sport. It gives people the motivation needed during a game or a competition. With that said, participants will do their part by assisting the team to reach their collective goal.

Leaders that are involved in competitive sports must develop team-building skills. And great leaders inspire others by focusing on achieving objectives or common goals.

On another note, it’s not as easy as it seems when it comes to building a top-performing team. Company executives need to establish a good vision and hire talented employees for this. The same goes for a leader that’s coaching a team of competitive sports players.

With practice of good teamwork, you’ll achieve your goals faster. That’s why establishing talented employees, and putting together a great team that works well together, is crucial for success.

But then again, to act as a strong leader, you have to create a team culture that aligns with your vision. A vision that empowers the whole team to take action without hesitation.

Communication with Your Team

Communication skills are the most important element when it comes to sports. In fact, communication skills are crucial for anything we do, whether it’s personal or sports or business. So, in competitive sports, when you’ve mastered this skill, it allows you to inspire, motivate, recognize and appreciate the great work of your team.

Most people can speak and communicate just fine. However, it’s the exceptional communicators who stand out and succeed. Being an exceptional communicator requires a special talent. Especially for business owners and corporate professionals.

So, if you’re someone that’s constantly looking at stacking your skills. I highly recommend you consider learning how to communicate better.

To be a strong leader, finding ways to communicate effectively in any situation will help you succeed in anything you do. Not only will it improve your leadership capacity but also, it helps you be a good listener. On top of that, good communication skills help you persuade your team to perform.

Imagine that you’re a competitive swimmer. You’re underwater a lot, and you might not think communication skills are that important for you. There won’t be any talking while swimming, you’re right, but what about before the race? Competitive swimmers need someone to motivate them with the right words, and that requires communication skills.

Now imagine that you are a coach. You see, when you coach someone, you need to pass on a clear message and motivate them. Your ability to do this effects your team’s performance. That’s why coaches must master communication skills.

Decision Making

When you’re involved in competitive sports, it’ll enhance your decision-making skills, because you’re observing and interpreting information, and you’re required to make decisions quickly. Competitive sports help you make quick decisions in order to succeed.

What do I mean by a ‘quick’ decision? Let’s take soccer, for example. A player only gets a few seconds to decide who to pass the ball to. You don’t have time to procrastinate in making this decision. If you do, you could cost your team the win.

Competitive sports help people develop quick-thinking, which is important for success. Click To Tweet

Sports like soccer, basketball, hockey, fencing, wrestling, and football, require quick-action thinking in order to be win. On top of that, it enables your mind to develop better reflexes and more confidence in making decisions.

But you might have this question in mind: Is this skill learnable? Yes, it’s definitely a learnable skill. Like any other skill, practice makes perfect. So, in anything you do, whether it’s in sports or business, decision making is crucial for success. As a business owner, making wise decisions quickly could put you on the path to greater success much faster.

Now, let’s say you’re a business owner and you’re wondering how you can learn or practice decision-making skills.

Imagine you have an appointment with a prospect, and this is a new prospect. So, as a business owner or a corporate professional, you must know your product and service at the back of your head. And typically, it involves “communication”. Which means you may have a script ready in your mind. Or maybe not – maybe you just wing it and just go with the flow.

Imagine that if you close the deal, you’re closing a 6-figure deal. But what happens when your prospect gives you a bunch of objections? Let me tell you something: Prospects Lie.

So, how can you use the power of quick-thinking to tackle your prospect?

Watch this video to know why we get objections:

Dealing with Success and Failure

Both success and failure have their own advantages. When you accomplished success, be proud and celebrate! And the same goes for failure. Celebrate failure, especially if you learned a valuable lesson. But you might be thinking, Why exactly should I celebrate when I fail?

When you fail to succeed, you learn a lot about yourself, your skills, and your capabilities. You learn where you need to improve. And when you set your mind to do better, that’s an incredible shift of mindset.

So, knowing how to deal with success and failure is important. Competitive sports teach you how to be proud of your successes without demeaning your opponents.

Each and every accomplishment requires a certain amount of focus. So, even if you fail at something, you will focus more to do better the next time.

To some people, failure means – they can’t be successful. And if you’re someone who thinks that way, understand that failure is just a temporary setback. You can learn from your mistakes in order to improve as I said earlier.

I’ve mentored over 5,000 students from all over the world and not everyone tastes success overnight – I know I did not… It took me twenty-three years to be a self-made millionaire. I failed in multiple businesses, made wrong decisions but that did not let me down.

So, stay on track and strive for your goals!

Setting and Striving For Goals

When I get a new mentee, I ask them a lot of these sorts of questions: “What is your goal?”, “How much money do you want to make per month?”and “How much income do you want to earn per year?”

Now you must be answering those questions in your mind.

Most successful people set two different kinds of goals. One type of goal is a short-term goal, and the other is long-term. So why do you need to set both short and long-term goals? Well, a short term goal usually can be achieved quicker than a long term goal.

For example, you want to be the strongest leader in the world. In order to see results, first, you have to acknowledge that you need to take action. And then, you start looking for courses to enroll in. You used your quick-action-thinking skill to make this decision because you want to discover their success and how they implement their strategies – for yourself.

So, you keep on stacking your skills, learning from the best of the best – implementing their strategies for your own team and businesses. Because of your quick-action-thinking, you now see success – that’s your short term goal – learning from a mentor.

Once you’ve graduated or completed all the courses you need, now you take control of your life by practicing daily – to achieve your long term goal, which is to be the strongest leader in the world.

Be proud of your accomplishments, but don’t settle. Keep pushing yourself to your limit. Click To Tweet

Setting goals can be mirrored as your desired improvement. Once you’ve tasted success, you tend to set high goals for yourself. But, don’t be too proud and settle once you think you’ve achieved your goals. That could be dangerous and might jeopardize your future. Therefore, being disciplined is the core of maintaining your success!

Just like any competitive sports, it teaches persistence and consistency.

Competitive Sports Forces You to Be Discipline

Given the points, I spoke about. From “Teamwork” to “Setting goals” – if you have no discipline in anything you do, you’re likely not to see success. But then again, to have the discipline it’s not easy. It requires the right mindset for it.

When you have the right mindset, anything you do flows well and that’s what you want as a leader.

Competitive sports forces you to have the right mindset so that you’re disciplined to learn the skills you need. With that said, to maximize your performance from the learned skill requires a lot of time and preparation.

It takes discipline to improve and excel – success will follow. On top of that, if you have a mentor or a teacher that communicates clearly and concisely – you’ll learn faster. So how competitive sports can give you the discipline to be the strongest leader in the world?

Sports bring different challenges, just like in business, you’ll face plenty of different challenges. Not only does it teach you to recognize the challenges at hand, but with your combined quick-action-thinking skill, you’ll be able to tackle those different challenges at the same time.

As a business owner, we’re only humans. We tend to make mistakes here and there. Knowing your challenges and what mistakes to avoid is crucial to your success.

Identify Techniques

An athlete who does competitive sports faces stressful situations and anxious moments. To perform well, you need to be in the right state of mind. I spoke about success and failure earlier where if you fail to succeed, don’t give up trying and learning.

The thing is, if you’re not in the right frame of mind, you won’t be able to identify the emotional and/or mental factors. These factors tend to prevent good performance.

And in business, as a business owner, identifying your own emotions to one’s task enables you to identify which technique best fits your prospects.

Competitive sports train you to recognize your own emotions so that you can identify certain techniques to maximize your performance. Click To Tweet

So, as a leader and a business owner, how can this help you in your business?

If you noticed, I speak a lot about mindset, because, I truly believe, “when you set your mind to do better – you’ll achieve anything in life”. Whether it’s competitive sports, in business, or in your personal life.

To identify the right techniques, it’s like learning human psychology. Understanding your own emotions gives you the ability to understand your prospects. And given that, you will be able to know which kind of technique to apply in order to seal your deal.

That’s where your quick-action-thinking and decision making comes in.

For example, when you face a prospect that has no time for nonsense and expects you to go straight to the point, but you need the time to speak to him or her – what are your techniques to tackle that kind of prospect? Will you let your emotions get in a way with such a prospect?

So, learning how to identify techniques when it comes to business is crucial and I don’t have to tell you the reasons behind it.

High-Ticket Closer Certification Program

At the beginning of my entrepreneurship career, I made a lot of wrong judgments. I let my desperation make the decision for me. And because of that, I wasted so much time developing just to watch it crumble. I blame my desperation!

I realized I needed to acquire a certain set of skills to be successful. In order to maximize my performance, over the years I learn and test many different skills. That’s why I compiled the best and came up with a program that’s like “One size fits all”.

The High Ticket Closer Certification Program enables you to acquire all the skills that I just spoke about. Not only will you discover your hidden skills and talents, but you will also be able to generate a high-income.

And if you’re a business owner who not only wants to be a strong leader – High Ticket Closer Certification Program will also be able to improve your close rate drastically – with effective implementation.

We make successful people be more successful. So, do you think this is the program for you? Whether you want to stack your skill, or to master a certain closing skill, or perhaps to purely earn handsome commissions.

My point is, don’t be like me – decide based on desperation! If you make the wrong judgment, I can tell you this now… you’re likely to deal with failure faster than success.

Want to Develop a Strong Leadership Mindset?

Now, if you’ve been following me, you must know that this certification program is extremely expensive and intense. That’s why it’s not for just anyone. This high-level program is for leaders who want to be the best and the strongest in the world.

As I said earlier, I’ve mentored over 5,000 students from all over the world and to be successful, you need to work hard and train yourself daily just like any competitive sports. You can’t set your mind to train today for tomorrow’s competition. So, don’t expect to achieve anything if you have that mindset. And I also said, it took me 23 years to be where I am today.

Developing a strong leadership mindset is a learnable skill. Just like any other skill, if you find a good mentor that is able to unlock your potential to maximize your performance. Don’t stop right there. Run to the finish line and claim your prize.

With my exclusive, 7-week intense program, I can guarantee you will be able to achieve an incredible shift in your mindset. Click here if you want to develop a strong leadership mindset.

Leaders are always looking for the “magic bullet” – the proven strategies and the proven techniques to be successful. If you want to discover the magic bullet that develops the strongest leaders, click on the link below to watch all my free videos. My team and I produced videos every day so that I can help you maximize your performance.

Click here to subscribe right now!

How Leadership Differences Between Men and Women Are Evolving Today

February 10, 2020 by Dan Lok

How are the differences between men and women in leadership evolving today? Are there any significant differences between men and women when it comes to business and leadership?

I believe that a true leader possesses certain skills and certain personality traits. It doesn’t matter if you are a man or a woman. Leadership is more connected to your personality and skills. Therefore, I like to take a more individualistic approach. Some people are suited to be good leaders and some aren’t. It’s not so much about gender, and more about if your skill level and personality type suits leadership.

On my team, there are plenty of skilled men and women in very senior positions. I think that the marketplace is hungry for more female leaders. So while men might have been favored by society as leaders before, the era of female leaders is fast approaching.

Still, it can’t be completely dismissed that there are some general differences between men and women. This is often because of the different ways men and women are treated by society, and how they’re treated as children. Keep in mind, these are very general differences. At the end of the day, we are all different and only some of those differences can be explained by gender.

You also shouldn’t view these differences as set in stone. Think about the general direction that society is viewing gender differences right now. It might change or it might stay like this for a while. All I know is, some of the best leaders in our world today, are female.

Let’s discuss how the leadership differences between men and women are evolving today.

What Are Some Common Leadership Differences Between Men and Women?

Let’s have a look at some general trends in regards to men and women in leadership.

In recent years, women have expressed a higher level of interest in skyrocketing their careers. Thanks to a higher awareness in society, more and more women are now more readily taking on leadership positions. The men no longer need to be the breadwinner of the family. Some women are even choosing a high-paying career over spending more time with their family. Families and household dynamics are definitely changing.

When it comes to women in leadership, society is slowly but steadily becoming less discriminatory and more accepting. Many companies have certain policies and measures to promote more female leaders. Such measures don’t come from looking down on women. Instead, companies nowadays know that women in leadership positions can create phenomenal results.

The percentage of women in leadership positions has constantly increased. While in 1950 only 13.8% of manager positions were assigned to women, in 1980 it increased to 26.1%. And today, we are talking about more than 50%. Click To Tweet

One problem, however, is that women don’t yet find themselves in the top positions very often. They are more likely to find themselves in middle-management positions. So when it comes to differences between men and women, men are still more present in top leadership roles than women are. But we can see that this is changing, and we can at least see the number of women entering into top leadership positions rising.

Let’s look at management boards, for example. In the US, approximately 19.2% of the board seats of the largest companies are held by women. In Canada, approximately 20.8% of board seats are held by women.

There are also fewer women in top positions when it comes to the government, law or medicine.

So, there is definitely still a lot of room for women who want to strive higher.

Now, let’s have a look at leadership styles. Are there any differences between men and women when it comes to leadership style?

Are Men and Women Leading in Different Ways?

When it comes to differences between men and women, there is always an important question asked. Do they have different leadership styles? And, if the answer is ‘yes’, which style is more effective?

Again, I would argue that individual people have very individual leadership styles, regardless of gender. It’s not so much connected to their gender as it is connected to their personality. However, some might argue that women are more likely to have certain personality traits that men are less likely to have. So, let’s explore this.

First, I want to clarify that I still believe that regardless of gender, different people will naturally have different leadership styles. When we look at two men, for example, one of them might have a certain leadership style, and the other would lead a completely different way. And the same goes for women. So, differentiating leadership by men or women might be too one-dimensional of a viewpoint.

However, we can’t ignore some of the general trends that do relate to gender. There are trends we can observe in the leadership styles of men and women. In many case studies, women proved to be as effective leaders as men – sometimes even more effective. But there are still some stereotypes that only die down slowly.

Many people still possess a bit of a bias in terms of favoring male leaders. However, many people who worked under female leaders would often say they want a female boss again, because they liked having a female boss.

Often, one of the big differences between men and women is their self-perception and self-confidence. Women are more likely to be harder on themselves and women tend to experience imposter syndrome, where they experience low self-esteem and feel undeserving of their leadership position. So, while many women might think to themselves, I’m not good enough to do this, men are more likely to exaggerate their self-confidence. Men are more likely to think to themselves, I can do this. That’s why men might be more proactive when it comes to applying for a leadership job. They’re confident they can do the job, and can easily learn what they do not yet know.

So, let’s assume there is an opportunity to apply for a leadership position. The woman might think she has to wait and learn more, before applying. The man, on the other hand, might be more likely to believe he is good enough and can learn the rest along the way.

Women tend to undervalue their skills. If you are a female leader and want to be more effective, I would suggest working on your self-perception and self-confidence. You don’t want to miss out on great opportunities because of self-limiting beliefs.

Differences in Men and Women’s Leadership Approaches

Both men and women have the ability to be very competent leaders. When an opportunity presents itself, either gender can succeed.

Some people would argue that the differences between men and women lay in their way of working or their approach to leadership. Men in leadership positions often focus on the following: Accomplishing tasks, implementing structure, and establishing power.

Women, on the other hand, often focus on caring for the team on a personal level, motivating the team and subordinates, listening to the team member’s ideas, and problem-solving.

In other words, men tend to have a more authoritarian leadership style. They derive their power from their status. Men tend to take less advice from the team when it comes to leadership decisions. They might be more strict, they might come across as less caring, and give more direct commands.

Women generally have a more collaborative management style, encouraging participation and listening to ideas. They derive their power from effectively managing and cooperating with their team. So, when a female leader makes a decision, she would probably listen to the team’s suggestions first. After the decision is made, she would also communicate why and what that will mean for the team. Female leaders often provide more details and explanation regarding their decisions, than male leaders do.

In other words, women often lead with a transformational approach, while men take a transactional approach. Women spend more time with subordinates and focus on inspiring them. Men are less involved and often just give orders with no further communication. This also means men tend to provide very clear instructions. They are good at communicating who on the team is or is not meeting their expectations.

However, there are also men who take the collaborative or transformational approach. And there are also women who are very authoritarian or transactional. You see, I’m not talking in absolutes, I’m just talking about general tendencies here. Both of these leadership styles have great advantages but also have their limitations. Effective leaders can’t be too rigid about their approach.

Differences Between Men and Women – Who is More Likely to be a Better Leader?

Some people would argue that women are, in fact, better leaders than men. They exhibit a lot of leadership traits that men tend to lack.

A US consulting firm called Zenger & Folkman, conducted a study on leadership. They ranked men and women on 16 different leadership characteristics. The conclusion? Women ranked better than men in 12 of the 16 characteristics.

For example, the women exhibited better communication skills than the men. They were more respectful of the culture and ethics of a business, and exhibited more patience. If women are this great in terms of leadership skills, we definitely want to see more of them in top leadership positions.

The thing is, men and women, go through different life experiences as they are growing up. They get different advice from their parents and teachers. Women, for example, are often encouraged to be more nurturing, caring or emotional than men. They might have different role models, too. That could be another reason for their different leadership approaches.

Again, this is very generally speaking. People are already different as individuals, regardless of gender, even if gender plays a factor. Individual personality differences, however, might be bigger factors than the differences between men and women.

So, even if women ranked higher in leadership characteristics in Zenger & Folkman’s study – and we definitely want more female leaders – no two people really have the same leadership style.

Every company is different, so one approach might be perfect for one business, and not work at all for the next. There are many variables. That’s why comparing women’s and men’s leadership skills is so hard to do.

I would argue no gender is better than the other. One person might simply possess a specific leadership style that suits a certain company perfectly. It’s all very situational.

What are Some General Effective Leadership Traits?

Now there might be some differences between men and women as leaders. Yet, I want to suggest to look at something else. At the actual person. To determine if a person is a good leader, let’s look at their actual traits. What are they good at and what do they lack? Are they willing to learn?

What should a good leader act like?

I noticed that the best leaders have something in common. They have a clear vision and follow their mission no matter what. They have this clear idea of where they want the team or company to go, and guide others. So great leaders, they… Click To Tweet

Effective leaders don’t necessarily lead by authority. Instead, they lead by persuasion. What does that mean? They inspire others to work harder. That’s what a great leader does. They find ways to motivate their team to work harder and work smarter.

Great leaders communicate their “why”. Leaders should always make their team understand the goals and objectives. They make sure others understand what they are doing, and why they are doing it. Such a leader would want to find out what motivates their team members. They make sure everybody is working hard because they want to, not because they have to.

So, rather than forcing others to work hard, effective leaders lead by example and figure out their team’s primary motivators.

Their team then naturally wants to follow their lead. Great leaders, no matter if they are male or female, inspire hope and hard work in others. They give them something to believe in and specific goals to work towards. And they remind others of the common goal often. Important leadership skills and traits include clarity, vision, and charisma.

What Are Women Better At?

When we discuss the differences between men and women, I’m convinced we can learn a lot from each other. This is, again, more generally speaking. But there are some things male leaders can learn from female leaders, and vice versa.

When it comes to leadership, what do women tend to be better at?

Women tend to be better communicators. They usually excel in verbal communication. And that kind of communication is important when you are in a leadership position. Think about it: How could a leader communicate their vision and mission without verbal skills or listening skills? That’s why women are great leaders. They are also great at problem-solving and at nurturing the skills of their teammates.

Women often take more initiative than men do, which is another great characteristic to have as a leader. Most people would think that men take more action, but actually, the opposite is often true. Women often have to fight harder to actually get leadership positions. That’s why they are used to taking initiative. They have great work ethic and think ahead.

Another difference between men and women is this: Women very often work twice as hard. Here’s why: Very, very often, when a man and a woman share a household, both work full time. However, the woman is the one who often also takes care of the household and possibly also organizes the care of the children. So, they actually get two or three jobs done at the same time. The willingness to work harder often makes women less lazy and more excellent leaders.

What Men Are Better At?

What do men excel at and what can we learn from them?

Most men don’t face the same obstacles a woman would face – especially if they want to become a leader in a top position. But that doesn’t necessarily mean leadership comes to them easy. Becoming a leader is competitive for both men and women. That’s why at the end of the day, it’s about the value they can bring to the table.

Most successful men have great self-confidence. While women tend to doubt their skills, men are more likely to rise to the challenge without self-doubt. That allows them to take action faster and get promoted – before their female colleagues even feel ready to try. Effective leaders can’t be indecisive, and men tend to be less indecisive and less hesitant than women.

Men are also great when it comes to focusing on short-term outcomes. Women tend to look at the long-term results and want to know that everything goes well along the way, even if it takes longer. Men, on the other hand, want to see results faster. So they would measure their success by creating results consistently.

And as I mentioned before, men often think in a bit more of a strategic manner. When it comes to leading a company, a strategy is important. If there is no system or strategy behind a business, it won’t last long.

Why We Need More Female Leaders

I personally think that the differences between men and women aren’t that major. Both men and women can make very good leaders. When you look at the information that is out there, many people argue women are better leaders than men. Now, I believe, this shows us how hungry the market is for female leaders and female CEOs.

In the average household, women make most of the purchasing decisions. That’s why females are needed in the marketing world, too. Women have great social and financial capital.

In the global market, companies can’t ignore 50% of the population – which is also half of the workforce. If a business would do that, they wouldn’t stand a chance against their competition. A company where all of the senior-level staff are men, would probably not do as well as a company that also had females in senior-level positions.

What does this mean for the differences between men and women in leadership? And how are the differences evolving? The market is slowly becoming more inclusive. So I’m confident we will see even more of an increase in female leaders in the next years.

The differences between men and women are definitely not easily explained. No longer is the old cliche, “men are rational and women are emotional” assumed. If anything, both men and women want to be both emotional and rational to be effective as leaders. For example, if a leader is able to connect with their subordinates on an emotional level, and evoke positive emotions, that team member might perform better. And, being rational and logical are of course important traits as well.

Hungry For More Business-Related Advice?

As you read this article, perhaps you started to wonder if you would be an effective leader. On my YouTube channel, I regularly provide advice about leadership and other business-related topics.

I run several high-level businesses and in my YouTube videos, I provide insights on how I reached my current level of success – after immigrating to Vancouver from China and being 150k in debt. Now I’m a multi-millionaire, and my followers come to me for advice. What would it mean to you to learn from a millionaire, and get tips on how to avoid common pitfalls, and learn how to be an effective leader?

If that is something you want or need, then subscribe to my free YouTube channel. See you there. Click here to subscribe.

How Effective Leadership Communication Impacts Business

February 10, 2020 by Dan Lok

If your employees are lazy and if your customers aren’t buying, one of the first things you should look at is how effective your organization’s leadership communication is.

The art of communication is the language of leadership. All great leaders are great communicators because that’s how you inspire. You have mastered the power of the spoken word to influence people to support your cause and follow you wherever you go.

If you want to motivate your employees, increase your sales, and grow your business, follow this advice on ways to improve your public speaking skills.

Watch this video about why public speaking is important for leaders.

Problems Originate From Poor Communication

When you’re a strong leader, you can take people where they want to go, even if they don’t necessarily want to go where they should. So that means as a leader, when we are communicating, we have to push and challenge people a little bit.

Very often employee problems are the result of lack of communication. Lack of employee performance is also from lack of communication.You need to have a system in place to check on the performance of your employees: what are their strengths, their accomplishments, their challenges. If you aren’t aware of their struggles, how can you help them improve?

Similarly, if you want to shift the direction of a company to make it better or to grow it, don’t focus on the company itself. Work on you, the CEO, and the other leaders of the company. Paint a clear vision and mission for everyone to follow.

If I shift the leaders, I shift the company. It’s like when you’re driving a big ship. If you turn the wheel by a small degree, the entire ship will turn.

Lack of sales in the company, like poor employee performance, is also from lack of communication, starting from the company to the marketplace.

As the leader, it’s your role to motivate your sales team. How can you inspire them to close deals, to improve their skills, and understand why selling your products is so important? It’s not just about making money. What can you do to change the company’s marketing so that your customers and your sales team understand the value that you’re bringing to the marketplace?

Strong communication skills are vital in leadership. Eventually you will develop your own leadership and communication style to motivate them. Some people may not like, it, so you’ll have to accept that not everyone will agree with you or like your style. You know what’s best for them.

Poor Communication Means Poor Sales

When I am selling something, my internal dialogue is so strong I can sell someone something they didn’t even know they wanted yet. But when I’m done selling, they say, “Thank you.” That’s not a bad internal dialogue to have. That’s how much conviction you need to have.

So what is an internal dialogue? It’s you understanding the mindset of the person you’re speaking to. Your prospect can be your employee or a potential customer.

As you’re speaking, you anticipate and you react to what they’re saying. It’s part of sales psychology to understand what’s going on in their mind. Your conviction needs to be so strong that you sell the other party on whatever you want, whether it’s an idea or a physical item.

So my question to you is, how strong a belief do you have when it comes to your products and services? Your conviction makes a difference. If it’s only 50%, how is it affecting your results?

You might think your prospects don’t know, but I guarantee you, they know. They know the minute you open your mouth. It’s all at a subconscious level. They pick up on your tonality, the words you use, and the way you control the conversation.

We can’t force people to move forward with us, but our passion can motivate and inspire them.

Conviction Drives Business Forward

As a communicator, as a leader, your energy has to be high. If you’re a five on the energy scale, your audience is going to be a one. If you want them to be at an eight or nine, you had better be at a ten. It’s the same with employees. If they’re unmotivated and low in energy, it’s because of you.

The most important person you have to influence is yourself. And you’ll need to do that all the time. As an entrepreneur, you don’t have the luxury to relax. When you chose this path, you gave that up. Your energy always has to be high to motivate yourself, your employees, and your prospects.

Ideally if you want to raise the energy level of others up to an eight or a nine, you need to get yourself up to a ten or eleven. You don’t have to be loud or outrageous like a highly animated person on a stage.

You just have to have a little bit more conviction. People crave certainty. Your employees need to know that they can lean on you for courage and solid decision making. When you walk into the room, they will stop what they are doing and pay attention. Your voice is clear, positive, enthusiastic, and authoritative when you speak.

You will need that high energy level when you deal with your customers. You need to be at a ten, because if you aren’t confident in yourself, your company, and your product, how can you sell to your customers? And if you can’t sell to your customers, how can you help them?

So confidence and conviction need to be in your voice and your attitude.

You might think that you want to be nice so you don’t offend anyone, but no transaction will take place. No one is doing business with anybody. Customers are not benefiting from your products and services. Even if you deliver great value, they might never find out if they don’t buy.

If you want to be a great leader of a company, then start with strong communication skills. You will motivate employees to perform well and customers to buy your products.

Begin your leadership by inspiring yourself.

Feeling Uncertain About Your Business?

If you want to breakthrough your current performance as a leader, and want to effectively increase your business revenue, book a free consultation with one of my advisors to discuss your goals.