Scaling

Not Sexy, But VITAL For Your Biz Growth…

November 29, 2022 by Dan Lok

It’s time we talk about one of the least sexy parts of business…

Everyone online always talks about sales, revenue, and cash in the bank.

But what about the numbers that drive those figures?

I’m talking about marketing metrics.

As you may know, marketing online can get confusing.

You’ve got email marketing, social media marketing, paid advertising, Search Engine Optimisation, sales page conversions, and the list goes on.

So, today you’ll discover some of the most important metrics to pay attention to regarding the marketing channels above…

In the hope that you can improve your marketing so you can see even better results in your business.

Let’s get started

How to Tell If Your Email Marketing Is Hitting Or Falling Flat

Since you’re reading an email newsletter let’s start with email metrics.

Your ‘Open rate’ will give you a clear indication of how your subject lines are performing.

According to mailchimp.com, the industry average for all industries is 21.33%.

You should always aim to improve your open rates, and you can do this by split testing two subject lines at once.

There are a few ways to split test, and your email software should do this automatically for you.

Essentially, you’re testing two subject lines to see which has better open rates, by sending to only half the list, then the software sends the remainder of the emails to your subscribers with the better-performing subject line.

Over time, you should have a good idea about what your audience responds to, so you can maintain high open rates.

If you’d like a list of eye-watering subject lines that compell your readers to open your emails, then click here >>

You should also keep an eye on how many people unsubscribe, so you know how your content resonates with your audience.

The second metric to monitor is the Click Through Rate (CTR).

This will be the percentage of people who click on the links in your emails.

Mailchimp.com states the average CTR across all industries for emails is 2.91%.

This metric achieves two things…

Firstly, it helps you to know whether your Calls To Action are good enough for your audience to take action on.

Secondly, it lets you know how compelling the body of your email is, so they actually read far enough to read the CTA.

Now, you may not know which needs improving straight away, but at least you’ll know something needs improving and you can slowly optimize your emails to increase your CTR.

If you’d like some tips to improve your email CTR, then watch this quick 1-minute video >>

How To Track Paid Marketing Metrics

Paid ads can be a great tool in an entrepreneur’s toolbelt for growing their business.

As far as Facebook is concerned, there are multiple objectives you can choose to achieve with your paid ads.

These include getting more traffic to your offers, increased engagement on your boosted posts or ads, increased video views, and lead generation amongst others.

Your metrics here will really depend on the objective you’ve set out for your ads.

For instance, a conversion could mean you make a sale, but it could also mean you acquire a new lead.

For paid ads, common metrics to monitor are Click Through Rate (CTR) and conversions.

As with email marketing, the CTR is the percentage of people who click the link on the ad, out of everyone who views it.

According to growthmarketingengine.com, the average CTR for Facebook ads is 0.9% across 18 industries.

Here’s a video that will help you increase your paid CTR so you can pay far less per click >>

How To Make Your Ads Pay

To ensure your paid ads are profitable, you must know your ROAS (Return On Ad Spend).

This is how much revenue your business makes for each dollar it invests in ads.

This metric is even more important than your conversion rate because you could have high conversions, but if your margins aren’t high, then your ROAS will be low.

Done incorrectly, paid ads are a good way to burn cash and FAST!

Done correctly, paid ads will become your license to print money!

So, click here if you want to know how to increase your ROAS on your Facebook ads >>

While we’re talking about ROAS, there are three more very important numbers you MUST know if you want to scale.

These numbers are your Cost of Acquisition (CAC) per customer, your Customer Lifetime Value (LTV), and your cost per lead (CPL).

I shot you a quick video where I break down these numbers and why they’re so important >>

How To Get The Best Bang For Your Buck With Social Media Marketing

Even though social media marketing is free, you shouldn’t underestimate its power.

I know organic reach may not be as wide as it used to be, but there are still benefits of social media marketing, especially if you use TikTok which still has phenomenal organic reach.

Social media metrics give you a good understanding of your brand awareness and referral traffic to your website.

Engagement is key on social media, so even though it’s free, it pays to put a good amount of time and effort into your content.

Key metrics are likes, comments, and shares.

These are commonly known as vanity metrics, but they’re important if you want to know how engaged your audience is.

Many believe free marketing like Facebook and Instagram is dead, but there are still ways you can increase your engagement on those platforms.

Here is a great video to increase your engagement on IG in 2022 >>

And if you want to increase your Facebook engagement, then you’ll want to watch this video here >>

In the interest of time, I don’t want to make this newsletter too long.

There are other marketing metrics you could consider concerning your Search Engine Optimisation, your sales pages, and your website.

Perhaps, I’ll save those for another newsletter, but I believe you have enough here to help you optimize key areas of your business to see HUGE results.

And of course, you’re welcome to do your own research for ways to improve a specific area of your marketing.

Until next time, go high ticket,

Dan Lok

P.S. – If you want to know how to scale to $100K per month, then do yourself a favor and block out just 30 minutes to watch my Advanced Expert Masterclass >>

Inside you’ll get the exact strategies my clients and I used to hit consistent $100K months.

7 Types of Investors: How to Invest And Build Up Your Ideal Portfolio

March 30, 2022 by Dan Lok

Are you wondering how many types of investors are there? Every day, there are people who fear losing money in an investment, while others never fear it. In any industry, investing has its own language. Many people are skeptical about where they invest their money because they don’t know how to build an ideal investment portfolio.

When it comes to investment. Most people may think of their homes or cars, for example. Rather, i’m talking about different types of investors. Which i’ll be sharing with you shortly.

Think of an investment portfolio as a safe to store your valuables. For example, real estate, stocks, bonds, mutual funds and so on. But an investment portfolio is more of a concept. Not a physical item.

If you know how to invest and build your investment portfolio, you won’t fear changes in the stock market. You’re wise enough to know that you don’t need to make more money to be able to save it because saving isn’t the answer.

Saving your money may help with future debts but it isn’t going to get you to financial freedom. What you need to do to build your wealth is to invest it, and the amount you invest has nothing to do with income level.

Rich people focus on investing. Poor people focus on saving. Click To Tweet

Instead, what you invest is an indication of your financial confidence: your knowledge and skills when making decisions about money.

With that said, understanding what an investment portfolio is doesn’t tell you how to build one. First, you need to know the types of investors. And then you have to learn how to invest. Only then, you’ll be able to build your ideal portfolio.

Watch this video about how to get started.

Take Time to Learn The Types of Investors

It’s important for entrepreneurs to take the time to learn the types of investors. Why? Because they are unique players in the growth process of a business. To determine a company’s success or failure is ultimately determined by the level and quality of an investor’s involvement.

There are plenty of stories about people using their own savings to invest in a company. Many still deeply rely on investors. If you depend solely on your savings, you’re not likely to grow as big as you want it to be. Having an investor can play a big role in your success. As i said earlier, your growth process is determined by the level and quality of an investor’s involvement.

Now, let’s get into the 7 types of investors.

1. Banks

A bank loan works the same as any other business investment. The entrepreneur is required to present a business plan, and then the bank will decide whether they should provide the funds. Also, you may need to provide some proof of collateral or a revenue stream before your loan is approved.

According to Investopedia, if you want to fund the expansion of your small business. Consider a Small Business Administration (SBA) loan. However, if you have access to other financings with reasonable terms, then you are not eligible for this loan. This is a good loan to apply if you did not qualify for a traditional bank business loan.

2. Angel Investors

An angel investor is a high-net-worth individual who provides financial aid to help the business get off the ground. They are often found among entrepreneurs’ friends and family. Typically, angel investors provide financial aid in exchange for ownership equity in the company. And this is usually a one-time investment to assist and support a company through its difficult early stage.

Now, this type of investment is risky, because it doesn’t represent more than 10% in your investor’s portfolio. But since they focused on helping startups. Therefore, they are the opposite of venture capitalists.

3. Venture Capitalists

So, what is a venture capitalist (VC)? A venture capitalist is an equity investor. They focus more on companies that exhibit higher growth potential in exchange for an equity stake. VC investors could be funding a startup that wishes to expand but doesn’t have access to equity markets. And usually, they do not.

The difference between angel investors and venture capitalists is that. They are willing to take higher risks because they know they can earn a higher return on investments (ROI) if those companies gain success.

So, whether you’re seeking an investor or looking to be an investor. Understanding the types of investors is important in today’s world.

Here’s the top 5 value of venture capital investment in the 3rd quarter of 2019. (by industry)

4. Peer-To-Peer Lenders

Embracing technology in today’s digital landscape is a must. Peer-to-peer (P2P) lenders consider businesses and projects that are listed online. There are 2 websites that specialize in peer-to-peer lending. There are,

This type of investor acts similarly to the Small Business Administration (SBA) Loan. Now, when it comes to peer-to-peer lenders, your credit history plays a part when engaging a P2P lender. So, check and improve your credit history before finding a P2P lender. Because, if you have a low credit score, they may not find you loan-worthy.

On another note, make sure you understand the terms and conditions on your loan and make payments on time. Failure to do so will result in increased fees and most likely won’t get you another peer-to-peer loan.

5. Personal Investors

This may sound the easiest of all types of investors. But think twice before heading in this direction. It is always a risk when mixing business with family. Not only do you risk your finances, but also your family and friends if the business goes downhill.

When choosing this option, make sure your family ties are strong enough to withstand the pressure. You can either have each party sign a promissory note on repayment terms or sign a partnership agreement.

6. Corporate Investors

As a corporate investor, investing in startups carries a variety of benefits. This includes supporting their own growth and diversifying assets. While some invest outside of startups, more are leaning towards starting their own accelerators and incubators programs.

These types of investors can be great collaborators. However, a careful approach with a lot of patience must be taken into consideration. In order to have an enjoyable relationship between founding partners and corporate investors. It’s vital to understand each other and have some boundaries agreement.

7. Accelerators and Incubators

Accelerators and incubators are perhaps the ultimate gateways to a variety from the types of investors on this list. Why? Because, if you’re accepted into one of their programs. You may receive from $10,000 to $120,000 dollars to develop your idea for growth. The best part about this is, you’ll be able to benefit additional knowledge and resources.

However, there are certain things to consider when joining the program. So, if you’re looking to take your business to the next level. Be ready to hustle.

Building an Investment Portfolio

Markets go up and down. Investing isn’t a game and certainly, it’s not something that you could acquire in the shortest period of time. You can’t achieve perfect performance through market timing. However, you can build up your ideal portfolio. A solid portfolio certainly will allow you to succeed and avoid the stress within market volatility.

If you know how to invest, you know how to build your investment portfolio. Click To Tweet

Your investment portfolio is like an umbrella for all of your accounts and they consist of some of these,

A 401(k) or employer-sponsored plan.
Cash in savings accounts or invested in certificates of deposit
Individual retirement account

As i said in the beginning, your home and cars aren’t considered part of an investment portfolio. Rather, i’m talking about how you can use your money to make money. Such as,

Stocks
Bonds
Mutual funds
Real estate investment trust
Alternative investments
Private companies

So, if you understand how money works, that’ll help you build your ideal portfolio. And diversification is the key to success when investing. Also, when you understand the different types of investors. you’ll have clarity on investing principles. Here are 5 essential guides to building your ideal portfolio.

Have a Purpose and Stay Committed

Ask yourself this question before you invest. Why do you want to invest? Maybe it’s for your family or it could be generating an additional stream of income so that you can achieve financial confidence. Or maybe you want to buy a second home. Most likely, your answer could be all of the above. So, if you are aware of your purpose and you already know what you want to accomplish. What would it take you to get there? And out of these 7 types of investors, which would best fit you?

Solid Understanding of The Fundamentals

To build your ideal portfolio is not just investing blindly. Understanding the fundamentals of individual securities is crucial to building a solid portfolio. And that’s what they are assembled based on.

Your ideal portfolio should be diversified across sectors that are expected to perform well. Plan and have a good strategy to execute your purpose. Think quality over quantity. Click To Tweet

Give Yourself Some Time to Build

This is critical because building your portfolio by identifying your purpose requires you to link all of your ideas. So, when you understand the types of investor that suits you best, you need to give yourself some time. Such as, what you need to achieve? So, based on your solid fundamentals, and a proven approach. It keeps you away from in-and-out, market-timing types of investing approach.

Focus on Things You Can Control

There are certain things you wish you could control. Such as, the market, companies that you’ve invested in and the political views. The truth is, you can’t. However, with your individual approach and mindset, focus on the things you can control. Determine a powerful strategy and stick with it.

Be Realistic With Your Goals

While most of us know how much we have saved. Very few have a realistic understanding of our goals. You might have an inkling of what you spend today and how much you need for the next stage of life. Maybe, you have a 5-year plan. But, how much risk are you willing to take on to achieve your goals? And does your 5-year plan look realistic with the steps you’re implementing?

What You Invest is an Indication of Your Financial Confidence

Your knowledge and skills when making decisions about money is critical. The way we save and make money can be grouped into seven types. I learned about these seven levels of investors from Robert Kiyosaki, and over the years, i’ve put my own spin on it.

While it’s common for one investor to drift a little from one type to another, most people stay fixed at one type for their entire lives.

[bctt tweet=”Saving your money may help with future debts but it isn’t going to get you financial freedom. You need to build your wealth to invest it, and the amount you invest has nothing to do with income level. ” username=”danlok”

As i said in the beginning, if you know how to invest and build your investment portfolio, you won’t fear changes in the stock market or unexpected bills. But most of us still have a certain fear when it involves money. Now, how to create that confidence to achieve financial independence? – to break-free from your fears.

The most important quality for an investor is temperament, not intellect. – Warren Buffett

Before i share the secrets of the rich with you. Which level of investor you are?

Level 0: Non-Existent Investor

At level zero, you have no investments or savings. You are oblivious of money matters in general or your spending habits in particular. You usually complain that you aren’t making enough money, or if you made just a little bit more money, everything would be okay.

The problem is your money management habits. Mike Tyson is an example of a non-existent investor. During his 20 year career, his income exceeded $400 million. Yet before his 39th birthday, he was $8 million in debt. Then $30 million, so he was $38 million in debt.

You might say, someone who makes millions a fight can’t be broke. But his financial statements say otherwise. He has the cash flow of a poor person. In fact, he’s worse than the poor. If your net worth is zero, you’re richer than him.

Level 1: The Borrower

If you’re a borrower, you’re often in far worse financial position than the non-existent investor, although your potential for change is greater. You usually make a bit more money than level 0. You have high debt because you spend all you make and more. Your idea of financial planning is to get a new Visa or Mastercard.

You live in complete financial denial and have often come to believe the situation is hopeless. When you are depressed, you buy more and get more debt.

Level 2: The Saver

As a saver, you usually set aside a small amount of money on a regular basis. The money is usually deposited into low-risk, low-returning vehicles such as a term deposit or money market account. You save to consume.

You save to go on a vacation, then save to buy a car, or save to buy a big TV. You are afraid of financial matters and won’t take risks. In fact, you’ll drive many hours to save a few dollars or line up on Boxing Day for 10 hours to save on one item.

Level 3a: Passive Investor

Passive investors are aware of the need to invest and top up their RSP or 401K by making employee contributions or outside investments like mutual funds, shares, stocks, or bonds. This level makes up two-thirds of the middle class. If you’re here, you’re financially illiterate. You don’t like to take risks.

You like to say things like, “I’m not very good with numbers,” or “I prefer to leave the money decisions to the professionals.” You’ll leave things in the hands of your financial planner but have little idea where things are invested or why. You also believe high rates of return like 20 percent are either illegal or impossible. You believe what you read in the news and do what others tell you to do.

Level 3b: Passive Investor Gambler

At this level, you don’t like to take risks but you also like to use sophisticated investment techniques such as margins, puts, and calls, without understanding what you’re really committing yourself to. Most of the time, you don’t discuss your losses with anyone, but always brag about your wins. You like to gamble.

I’ve seen entrepreneurs work very hard their entire lives to accumulate quite a bit of money. Then they take another person’s advice and in one year they lose what took them 10 years to make. It’s in the nature of entrepreneurs to work hard, so they’re smarter next time. But they’ve already lost decades of time because they took a gamble.

Level 4: Automatic Investor

Automatic investors are aware of the need to invest but they are also actively involved with their investments. If you’re at this level, you have a long term plan that will enable you to reach your financial objectives. You follow the plan of the wealth triangle: you have a high-income skill, build a scalable business, and have high-return investments.

You don’t use the fancy stuff that money managers use, like options or margin accounts. You buy good shares, proven managed funds or solid funds, and hold them for the long term. Warren Buffett is an automatic investor.

Level 5: Active Investor

If you’re an active investor, you manage your own money and don’t trust other people with it. You have a clearer awareness of investments and rates of return. You don’t necessarily take the advice you hear.

For example, i’ve worked in finance. I can say that 97 percent of mutual funds don’t work. Only 3 percent of the 5000 funds in Canada work, so i would not take the advice of financial advisors.

Active investors have to be clear on investing principles, which are the rules of investing. Your vehicles might be real estate or private companies. You actively participate in managing your investments and don’t just put aside your money and hope it grows.

You’re always looking, monitoring, and seeing how you can add value. You optimize performance and minimize risk, getting long term annual returns of 20 to 100 percent. You intimately understand money and how it works.

This type of investor has cash flow. You spend what you want after your assets crank out the cashflow for you. I am at this level.

Level 6: The Capitalist

Few reach this level and fewer manage to remain there. They are the Rockefellers, the Kennedys, the Fords, the Bill Gates, the Warren Buffets. They have two motivations for investing: they are good managers of their money while they are alive, and they leave a legacy to continue after they are gone.

Discover The Secrets of The Rich

No matter what your income level is, start investing. Have a financial plan for your future. Begin at the first level and work your way up. Remember, investing is about how much money you keep and what you do with it. So, do you want to learn the secrets of the rich? How do they invest, and build their ideal portfolio? How do they stay rich by investing?

To the select few of you… here’s your chance to learn from me in person. As i said in the beginning, many people are skeptical about where and how they should invest their money. And this is what i realized.

The secrets of the rich aren’t taught anywhere. So, I decided to show you how it’s done. And because you might have the same question as my followers and mentees. To answer these and many other questions, you’re invited to my event in Vegas i’m holding with my good friend. And the question is, “Dan, how do I grow my savings predictably and sustainably?”

Without losing to inflation.
Without risking it all on the latest opportunities that could be gone with the wind.
Or without keeping it in my low-return savings account?

If you want to discover the secrets of the rich. You must have the mindset to give more, do more and be more…

Learn the secrets of the rich. And change your life forever.

7 Steps To Scale Your Online Business Fast

September 27, 2020 by Dan Lok

You’ve been examining your spreadsheets, analyzing your revenue, and thinking deeply. Everything is now in place – your profits, your team, and your peace of mind. You are ready for the next level. But as a business owner who has never done so before, it all might seem slightly overwhelming. There is a lot to keep in mind when scaling up.

We’ve laid out a step-by-step process for how you can scale your online business – fast.

Here are some ideas for you.

The Power Of The Online Business Model (& Why It’s Faster To Scale)

Because of how powerful technology is, more and more business owners are shifting to an online model. This also lowers expenses because there is barely any overhead.

Not to mention, in this current situation, people are choosing to shop online for health purposes. In the US, e-commerce sales alone have increased by 25%.

In a traditional brick-and-mortar business, you have to take into account expenses such as rent, utilities, inventory, storage, transportation, and more. With an online business model, most of that is already taken care of for you. The biggest expenses involve how you market yourself and your business.

Scaling an online business is also drastically easier and faster than scaling a traditional business.

Since everything is online, all you need to do is leverage technology to help you scale your business. When you want to expand, you do it via online marketing instead of renting, furnishing, and stocking a new physical location.

But what if you’re currently operating as a brick-and-mortar store? You can still leverage technology to turn your business into an online business. Or at least use these tactics to take some of your business online.

This will be a game-changer for your business.

An online business model effectively reduces your expenses by at least half – saving you money and allowing you to scale with ease. As a result, online business is one of the most scalable business models to exist today.

If your online business is making consistent revenue in a market with high demand, it’s time for you to scale.

We are going to show you, step by step, how to scale your online business.

Step 1: Leverage Your Money Mindset To Create More Money

Before you take another step, you need to consider your mindset. This is the first checkpoint in learning how to scale your online business.

Do you have big goals? Are you ready for your business to scale?

Scaling your online business requires a different mindset. If you think small, your business will stay small. You need to adjust how you view your business, finances, goals, and time.

You only have so many hours in a day. If you continue to trade a limited resource – your time – to obtain more revenue, eventually you will be at a loss. Instead of trading your time for money, think of how you can use your mind to create wealth instead. The best way to do that is to leverage the second most important resource you have – money. Use the money you currently have to generate even more.

This could mean putting out more social media ads. Or you could partner up with an influencer to get them to promote your services, and pay them a fee to use their name and reputation.

In the world of business, it is necessary to spend money to make money. The only way to scale is to grow your business. In order to grow your business, you need more leads and more prospects. Instead of having a saving mindset and trying to salvage every dollar, focus on making more money. The potential prospects who are interested in your services will provide you with a much larger return on your investment.

Step 2: Find And Recruit Passionate Entrepreneurs To Scale Your Business On Autopilot

If you are looking to scale your online business fast, a team member with an employee mindset will probably not be of much help. An employee who is looking for a 9-5 job is interested in only one thing: doing the least amount of work possible and collecting their paycheck. These people have their roles when it comes to scaling a business, but the majority of your team should be passionate entrepreneurs.

Passionate entrepreneurs are less focused on their salary and more focused on what they can become. These are the kind of people who are willing to go above and beyond to help you grow your business. They understand that your success is their success as well.

To attract more entrepreneurs into your business, treat team members like entrepreneurs. Give them the incentive to perform and devote 110% of their time, energy, and work ethic.

For example, in this organization, many members of the team are trained as High Ticket Closers. High Ticket Closers are salespeople companies hire to help them close deals. The difference between High Ticket Closers and traditional salespeople is that High Ticket Closers close on a commission basis. They understand that if they don’t close, they don’t eat. This motivates them to go above and beyond what a traditional salesperson on a salary would do. The more deals these High Ticket Closers close, the more revenue they generate for the company and the more commissions they collect. As the company grows, so do they – they are able to close better deals and generate more revenue.

Provide a culture in your business that pushes team members to become passionate entrepreneurs. They’ll help you grow and succeed fast – and benefit from doing so as well. It’s a win-win situation for everyone involved.

Once you build a solid team of entrepreneurs to help scale your online business, you can move on to the next step.

Step 3: Stop Working In Your Business And Start Working On It

You’re a busy person. You may have a small team working with you, but you’ve got a lot to do as a business owner.

And that’s hindering your ability to scale.

For example, a fitness coach who is making 10K a month offering 1 on 1 training sessions probably has a system in place. His prospects could be sending him an email asking for more information. He has to reply to that email and schedule a time to talk with them. Once they’re on a call together, he talks about how he can help the prospect achieve their fitness goals. After a lengthy discussion about price and what they can expect, the 1 on 1 training begins.

Is that how you’re running your business? Are you involved with every step of the process?

The first step in scaling your business is to stop being involved in every step of your process.

You have to get out of your own way.

This business system will not allow you to scale. Let’s return to the fitness coach case. We can assume he is making 10K a month but has his day-to-day schedule already 80% full. It is next to impossible to take on the number of clients needed to scale to 20K, 50K, or even 100K.

The easiest way to solve this issue is to get some help. Hire a team you can delegate tasks to, so you as the business owner have more time to focus on growing your business. You can hire a support team to manage the emails. Then build a team of closers to talk with your prospects and convert them into clients.

Now you have the time to think about how to scale your business because you aren’t preoccupied trying to do everything yourself.

Step 4: Manage Your Expenses And Automate Tedious Processes

As your business grows, so do your expenses. To maximize your revenue and profits, automate as much as you can in your business. This could mean investing money into software that helps automate tasks so you have more time.

For example, the team members within this organization are extremely busy people. For them to send constant check-in emails would waste time and result in chaos. That’s why we have a task management system that allows them to see what tasks are done and what’s next with just a glance. This speeds up the entire process within the organization, allowing everyone to stay organized and make the most of their time.

What can you automate in your business?

You can save time by investing in software that schedules appointments for you. You could also automate your sales funnel and remarketing campaigns.

Remember that every minute is crucial. Add them up over the span of a month, and you’ll see just how much time you spend on trivial tasks.

Step 5: Focus Exclusively On High Ticket Clients To Do Less Work And Make More Money

Once you get yourself a team that allows you to focus more on running your business, it’s time to examine your offers and market positioning.

Let me ask you a question: would you prefer to work with one client and charge them $10,000, or work with 100 clients and charge them $100? If you’re looking to scale your online business, you need to think about selling high ticket offers.

That means raising the rate and standards of your service to accommodate a prospect who is willing to pay more. Because you are looking to scale your online business, time is your most important asset. You need to focus on how to maximize your time while maintaining or increasing the amount of revenue you generate. The best way to do that is to increase your prices.

“But there’s no way my clients will pay me 10X more for the service I’m charging!”

And that is true. This means there are two options that you have:

Increase the value that you are providing and improve your market position OR
Hand the cheaper clients over to your support staff

You don’t want to reject the prospects that want to work with you. If your prospects aren’t willing to pay the premium prices that you are charging, you can hand them over to your team members.

When Dan Lok was just starting out as an entrepreneur, he worked under his copywriting mentor, Alan. Alan was a busy man with many clients, who charged premium prices because his copywriting skill was in demand. When he encountered clients who weren’t willing to pay his prices, he handed them over to me, who charged a lower price. Instead of the customer being charged $4,000 for a sales page, they would be charged only $1,500.

By leveraging your team members, you can cater to both types of customers, without losing prospects.

Step 6: Scale Your Online Business With A Digital Community Of Like-Minded Individuals

Let’s take a minute to acknowledge where your business should be at this point. You should have:

A solid mindset focused on thinking like a millionaire set on growth and expansion.
A team of entrepreneurs who think big and work hard.
The confidence to delegate everyday tasks to your team so you can focus on strategizing and thinking big.
Automated systems that stop humans from spending their valuable time on mundane tasks that AI and computers can take care of.
High-ticket offers and a solid plan to increase your prices and improve your market position.

So now, we are going to build a digital community you will be able to pluck clients from.

You can do this through social sites like LinkedIn or Facebook. You should create groups that people join to gain information about a problem your online business solves.

People won’t join groups that just sell products, so make sure your group offers true value.

Once you have people learning from and building a relationship with you in the group, they will be more likely to convert.

On occasion (and strategically), you should plug your products and offers. If like-minded individuals who need your solution have a relationship with you, you should see conversions. And just like that, you’ve built a community of ideal clients to pick from when you need more business.

Step 7: Create Online Courses and Programs To Cater To A Larger Audience

So now that you have a digital community, you can push your high-ticket offer. But you can also offer low-ticket online courses for those in your community who are not ready for your high ticket prices just yet.

Online courses do take time to create, but they offer an excellent source of passive income. This means you and your team need to invest some time to build and maintain them but can then focus your efforts elsewhere.

This is an especially poignant strategy if you’re looking to scale your online business without a large team.

So what kind of courses can you offer?

With the increase of internet usage lately and the explosion of DIY culture, just about any business can create a course that has demand for it. Plus, 78% of DIYers start their research process online, so you want to capture that business.

You may be concerned that teaching people about what your business does will negate the need for your offers. But that’s not the case. Your low-ticket course could also be about something adjacent to your offer – not necessarily how to do what you do.

For instance, if you’re in marketing, you may have noticed the giant uptick in demand for online content. So create a high-ticket offer that would alleviate that stress from your ideal client. Build a low-ticket offer course teaching business owners how to find reliable sources for their online content. Then push it to your group of ideal clients. If you’re really going for an awesome sales funnel, advertise the low-ticket offer, then upsell to your high-ticket offer.

And just like that, you know how to scale your online business.

The Secret System To Scale Your Online Business

Scaling your online business should not be difficult. For traditional brick-and-mortar businesses, there are many more things to take into account. However, online businesses have endless room to expand. Even if your main offer is a physical product, you can still capitalize on current digital trends to reach your ideal client and scale your online business.

So where’s your mindset now?

Do you feel ready to take on this challenge and conquer new mountains?

Are you ready to hit the 7-figure mark?

Dan can show you how he took his business online, coaching business from 6-figures to 7-figures – and how you can do the same for your business. All you need to do is attend the High Ticket Mastery™ Event.

5 Secrets Great Brands Use in Their OmniChannel Strategy (And How Your Company Can Adopt Them)

August 26, 2020 by Dan Lok

Coca-Cola was born in 1902. Since then, the brand has been loved and celebrated all over the world.

From “The Great National Temperance Beverage” slogan in 1906 to the recent “Share a Coke”, it’s no wonder that Coca-Cola is an iconic American beverage. And it’s reached far beyond the United States, growing into a global empire over the last 100 years.

Can you imagine Coca-Cola without also thinking about great times? Even the red and white colors and the iconic Spencerian font say happiness.

How has the company maintained a consistent brand over such a long period of time?

Coca-Cola’s secret is simple: branding.

What makes great brands so amazing?

Omnichannel brands stand out because they’re everywhere. They aren’t limited to a physical location, a specific social media platform, or a single marketing method.

Coca-Cola is a wonderful example of a brand with an omnichannel strategy that stood the test of time and succeeded in the process.

But you’re probably thinking, That’s because they’re Coca-Cola. There’s no way my company can get from here to there.

Sure, you’re probably starting out with a fraction of the impact (and budget) that they had. But Coca-Cola didn’t start where they are now either.

So how can you get from where you are to where Coca-Cola and other large companies have grown?

Simple. Study great brands. Pay special attention to the qualities that differentiate stellar companies from the others. Then do your best to instill those qualities into your business today.

Better yet, we’ve already studied numerous companies with strong brands for you. Interestingly, there are 5 common qualities that make these companies stand the test of time.

1. They stand out.

No one ever wanted to buy a product from a company that didn’t have a great story. Or from a brand that didn’t differentiate itself from the competition.

In fact, we often don’t choose products solely because of quality. We buy based on emotion and justify that emotion with logic later.

One of the biggest impacts on a buyer’s emotional decisions is the branding of the company. Does the buyer have a reason to buy from you and not your competitors? Do they feel connected to your company somehow? Why wouldn’t they wait and try it out later?

The best businesses’ brands make obvious two things:

Why their product stands out among their competitors.
Why customers should buy the product now.

2. They don’t limit themselves.

If you’re trying to impact the world with your company, you’ll need to reach more than a small group of people.

You’ll need to appeal to the old and young, people from the city and country, the rich and poor. You’ll have to bridge the gap between all the little differences that separate people.

This can’t happen unless you’re building a brand that can encompass multiple channels and impact millions of people across those channels.

It’s important, of course, to have a clearly-defined audience. When your company is in it’s beginning phases, it’s best to find a niche audience and to nail your marketing strategy for that group of people.

But as they grow, the best brands use their omnichannel strategy to approach a broader and broader audience.

These companies don’t say, “We’ve maxed out the market. There’s no way our product could reach more people.” Instead, they innovate, so they can reach more people. That’s how they end up changing the world.

3. They educate.

Great brands don’t just blindly share content and hope it strikes a chord with their followers. They strategically position themselves to be an expert voice for the issues relevant to the company brand.

Often building a world-changing brand means changing the way people think about your industry. This takes well-planned content and a brand that reflects the new ideas the company is introducing to the world.

For example, Dan educates salespeople about how to grow from sales associate to top closer in High Ticket Closer. Without Dan’s unique insights into sales, this product wouldn’t be a reality. Without a well-planned content strategy, there would be no way to share these breakthrough ideas with the people who need them.

If you have a product that’s innovative, unique, and world-changing, chances are you have a huge opportunity to educate your target audience about it.

Besides, with the information economy in full swing, people will research you. We all Google companies we like, check out their social media, and visit their website.

If we don’t find what we like, we mistrust the company. After you’ve lost a customer’s trust, there’s not much chance they’ll buy your product.

How can you keep your customers’ trust? Create an omnichannel brand that educates your customers.

4. They entertain.

Entertainment is cheap in today’s world. Many platforms are perfectly built to both educate and entertain, so smart brands build a strategy with a good dose of both.

Gone are the days when you can reach people by putting your logo on a billboard. Today’s customers see through typical ad styles. They’re calloused to the huge letters and flashy music.

So it takes something unique to get today’s generation to notice your brand. Something that makes them laugh. Something that reaches beyond the clickbaity nuisances that today’s customers all tune out.

Calculating entertainment into your strategy is one of the best ways to make sure people remember your brand. (Geico ads, anyone?)

5. They personalize.

The best companies focus on the customer first. They use conversational marketing or work directly with influencers. These companies know their success comes down to how well they can reach the customer.

In today’s world, we’re bombarded with ads at every turn. We also have the ability to do all the background research necessary on any given company at our fingertips.

We’re used to chatbots and retargeting ads.

So what stands out today is the brand that still adds a personal touch to their marketing strategy.

How can you create an omnichannel strategy?

Rome wasn’t built in a day, and Coca-Cola didn’t create its brand without years of trial and error. It will be the same for your company. However, planning a strong strategy beforehand will give you a competitive advantage as you grow your business.

There’s no one-size-fits-all model that will fit every company. One channel may work for some companies while it fails to reach customers for others. There are, however, several universal keys to keep in mind as you’re building a unique omnichannel strategy for your company.

Keep the customer in mind.

Value creation is the most important key to a great brand. Unfortunately, most companies get caught up in following the latest marketing trends.

This approach is a crippling mistake.

Fads pass, but loyal customers will be the advantage your company can have. It stands to reason, then, that every decision you make about the future of your company should be centered around one question: how will this strategy improve our customer experience?

This perspective will help simplify your approach as you build your strategy for the coming years. If you’re not sure what your customers need or want, ask them. Take some time to put out surveys or get on the phone to listen to what your customers are saying.

An investment in your customers now will pay off decades down the road. - Dan Lok Click To Tweet

Compound that growth with years of investment in your customers, and you’ll have a brand as solid as Coca-Cola or any other great company you admire.

Dominate one channel at a time.

Don’t try to take over the world in the same month. Focus on building solid growth in one or two channels that are most important to you. Maybe the best thing to focus on is email marketing or Facebook ads. Maybe YouTube is the channel you should try out first.

This strategy is far more effective than trying to spread out your marketing budget over a dozen channels you want to eventually use.

As you study social media secrets and other tactics to help you expand, you’ll quickly learn which channels are the top priorities for your company brand.

When you’ve dominated the key channels that can help you grow today, you can move on to taking over several more. After you’ve mastered those, you can break through to other avenues of growth. Continue this, and you’ll have your omnichannel brand before you know it.

Remember that everything is sales.

If it’s not selling, it’s probably irrelevant to your ultimate growth. - Dan Lok Click To Tweet

Think about that statement again. What are you doing now that is simply not helping your company grow? Cut it out.

With every Facebook post, every Instagram story, and every tweet, you have to pay attention to basic persuasion secrets that can be the difference between selling your product or failing to do so.

Not everything has to be an outright sales pitch. But every little thing you do either convinces potential customers to trust your brand more or turns them away from it entirely.

As you’re building an omnichannel strategy, cut out anything that doesn’t sell.

Don’t forget your personal brand.

Your personal brand has more of an impact on the company image than you realize. If you instill trust in the people who look up to you, you’ll automatically transfer that trust to your company.

But if you neglect your personal brand or accidentally build an image that is untrustworthy or shady, you’ll hurt your business more than any other marketing fail can.

Even if you don’t realize it, you have a personal brand. It’s yours to take control of. And it’s never too late to get started building a strong one.

If you take the steps now to make your personal brand something people trust, it will be one of the most beneficial assets to your company as it expands.

With these tips, you should be set to build a solid foundation for your company’s growth.

Are you unsure of building your omnichannel strategy alone? Dan Lok has worked with people like Jeremy Hanes and Brian Tracy to help them build strong brands. If you’re 100% committed to success and need some clarity of how to get there, check out Dan’s consulting options.

Whether you choose to build your strategy alone or enlist a consultation with someone like Dan, you’re headed in the right place just by finishing this article.

Now, all that’s left to do is build the omnichannel strategy you need to drive your company to success.

3 Ways To Expand Your Business Without Sacrificing Margins

August 25, 2020 by Dan Lok

There is a prominent myth about business. People think businesses run on huge margins that leave the owners rolling in cash. But that isn’t the case. Margins have to be decent to account for the unforeseen costs of running a business. But they are often smaller than people think.

The hidden costs of owning and operating a business would astound the public. And when it comes to expanding your business, it can be impossible to sacrifice those margins. But you can expand your business without sacrificing your profit margins.

There are a few key things you can do that will need your time but not at a large monetary cost. Or you could trade one cost for another.

These steps will allow you to expand your business while keeping your margins intact.

Ultimately, they will set you on the path to take your business to the next level. You’ve worked hard to get your business where it is. But what got you here will not take you where you want to go.

So you need to learn how to put in place these skills. You will not only better your business but improve your presence in your industry.

The first step to this future is simple: use what you already have.

Expanding Your Business With Tools You Already Have

Why invest in something new if what you have is more than enough? This is the first step to expanding your business without sacrificing margins. You don’t have to create new long-term expenses. Instead, invest your time in evaluating what you already have.

There are two things every entrepreneur with an enterprise has: human capital and a process.

Your human capital is your team and any freelancers or agencies you use. Your process involves what you do to make your product or service happen.

If you operate any business at scale, you have these two items at some level. They helped you get your business to your current level, and they can help you go further.

But they need to be adjusted if you are going to expand your business.

Evaluating Your Human Capital

To expand your business, you need to build a powerful team. When operating a business at scale, your team will represent you to the industry.

You will not be able to have a hand in every part of the process. So every time your team interacts with someone, that reflects on you.

Conquering your industry requires recognizing that your role in the business has changed. Instead of handling day-to-day tasks, you need to operate at a higher level.

You need to focus on your industry.

This is one way to expand your business, but we’re getting ahead of ourselves.

As you are no longer part of the day-to-day operations of your business, you need a high-caliber team. You are most likely operating with a team already. So expanding your business without sacrificing your margins requires examining your team. Ask yourself:

What is your team structure?
Could they be more effective?
Are they driven by your business’s culture?
Do they represent your best interests?
Are they costing you money with mistakes?

Being loyal to your team is an excellent trait, but you also need to be loyal to your business. That means acknowledging when a team member is no longer necessary. Or when they are costing you more than they contribute.

Employees are human. They make mistakes and need time to learn. But to maximize growth, reevaluating your team and its structure is important.

Are there people on your team who have hampered your business’s growth?

Or could you encourage your team more to expand your business?

Does your team know you appreciate them through your wellness initiatives?

Is Your Team Happy?

There are several management styles. Knowing yours will help you better understand how you relate to your employees.

If you’re a very people-oriented manager, you may be in tune with your team’s happiness. But you may have difficulty restructuring your team because of your loyalty.

If you’re a more numbers-focused manager, you may not recognize if your team is happy. But you’re ready to restructure for growth.

But all the restructuring in the world won’t expand your business if your team isn’t happy.

Happy employees are more loyal with higher engagement levels. And engagement levels are very significant. A Gallup study showed businesses with engaged employees had 59% less turnover.

Plus a 21% increase in profitability.

Wellness initiatives in businesses are not cheap. But asking your employees how they want to feel appreciated could reveal solutions.

For instance, offer more flexible work hours. Adjusting work hours to fit employees’ lives would not impact your margins. Yet it would increase employee engagement.

It would take time and a process to change the schedule. But there would be long-term benefits.

So investing in your human capital does not only mean restructuring your team. It also means evaluating their happiness.

What are the little things you can do every day in your business to encourage your team’s engagement?

Do Your Employees Have Hidden Talents?

Another way to keep your employees engaged is to take advantage of their hidden talents. Allow them to express what they’re passionate about outside of their job description. Then, use those talents.

Keeping your team small and agile will help your business expand in the future. But that means everyone has to have multi-faceted jobs. While you do need to define those jobs clearly, people will still need to have roles.

So get to know your team. Find out what they are good at.

An accountant might have a knack for photography. Or a salesperson may be a grade-A social media manager.

And that brings us to an important question:

Are you outsourcing work that in-house employees could do more effectively?

There is a time and a place for outsourcing. Some positions need a highly-skilled person who does not need to be employed full-time. For instance, copywriting is often outsourced.

If you are outsourcing and plan to continue doing so, ask yourself this:

Can you outsource more effectively?

Take a look at your external team. Are their services worth what you are paying? Are their offerings effective?

This is part of examining your team as a whole. These contractors are not directly part of your team. But they are a piece of your external team, so they impact your business.

Therefore, you need to see their role in your business.

Evaluating Your Process

The next step is diving into your process. You most likely have many processes. These could include marketing, production, distribution, accounts payable, and more.

These processes all have a few things in common: they take time and they’re powered by something. Whether they are powered by humans or money, they require something to make them function.

Are you making them function?

Are you too involved in each process? Are you personally involved in processes you don’t need to be a part of?

If you truly want to expand your business, you need to delegate effectively. But you need to be sure that your process is streamlined for your team, so they are not wasting their time. Or your money.

Your processes should make use of technology and humans to the fullest extent.

Are You Up-To-Date With Technology?

We live in a world full of constantly changing technology. What was top-of-the-line tech five years ago is now deeply outdated.

When was the last time you examined your technology?

If your last evaluation of your tech was several years ago, it’s time to review your technology. This includes processes from payroll to production to lead acquisition.

Software often makes up the foundation of these processes. Software companies will come up with updates for the software you are using. So make sure to check you are updating your software automatically.

And alternative options or solutions may have become available. So it’s important that you continually research and remain open to ideas.

There will be switching costs. But they may be low in comparison to the switch off.

Or alternatively, you may find an all-inclusive software. If you are using a separate invoicing and bookkeeping system, you could find a service that does both. So you can consolidate your needs into one bundled solution.

Make sure to view your process with an open mind. You might also find ways to streamline by using technology less or differently. Pieces of tech you once considered critical may not be required anymore.

But the key is approaching this evaluation with a very open mind. You need to be ready to change. This includes humans.

Are You Using Too Many Humans?

The process of evaluating your team and your process should happen at the same time. So you will know, when you go through your process, how your team will be impacted.

Because you have to ask yourself a harsh question: are you using too many humans?

Is there something you are paying for that technology could do?

If you are a people-oriented manager, this question will be really difficult to answer. And if you decide to keep people on your team that are doing jobs a computer could do, that’s up to you. But you have to recognize you could more efficiently expand your business in other ways.

One of those ways could be capitalizing on your people-oriented attitude. Not every business can say they are loyal to their employees.

But 87% of employees expect their employer to support their work-life balance. This is a large portion of the population who cares about how companies treat their employees.

So if you are unwilling to replace humans with computers, capitalize on that market.

Acknowledge that you may need to sacrifice some margins. It will not be as fiscally efficient to expand your business. But you do have a market that you can tap into without changing your business.

Expanding Your Business With New Additions

While you can use what you already have, you could also make additions.

Depending on your business, this may involve new investments in people or technology. Replacing older technologies with new ones will create a short-term expense. If you replace technology, you may be able to make the process more affordable.

But the long-term ramifications will save you money.

Hiring someone to help with your evaluation could help, too. It would be an additional expense but with long-term benefits. A fresh set of eyes and open mind could help you identify areas to improve.

But there are other steps you can take to expand your business that involve you specifically.

As we mentioned, your role in your organization has to change to expand your business. If you want to take your business to the next level, you need to invest in your industry.

This is why it is so important you trust your team to delegate to them. And you trust your process to make sure your business is running according to your standards.

Once you have those two factors in place, you will be free to explore your industry further. Take the opportunity to network with your peers and establish yourself as an authority.

Collaboration With Peers

Networking with peers is fundamental to expanding your business. Knowing others in your industry will allow you to better understand your competitors. It will also help you capitalize on best practices in your own organization.

Can you honestly say right now that you know the standards for your industry?

The internet has made researching an industry easy. But nothing will replace gaining wisdom from those who are currently succeeding. That’s why finding the right mentor is so important.

And networking with those in your industry around the world will help you to establish yourself as an authority. What are the benefits of being an authority with a recognizable brand? You will be top-of-mind when they need your services.

But networking with peers extends outside your industry. It includes similar industries or ones with which you work. And if you network correctly, that allows for collaboration. You could find new products or services to offer based on people you connect with.

This is why networking is so important to expand your business. Your business will be able to grow so much more when you keep an open mind to learning from others. Plus, you will give your business opportunities by being open to collaboration.

Networking takes time and social skills but virtually no large investment. It’s an excellent way to give your business opportunities without sacrificing margins.

Are You Networking Correctly?

The internet has given plenty of networking opportunities. LinkedIn is a great example.

But you need to know how to fully utilize the platform.

If you are attending an industry event, find out beforehand who is going to be at the event. Send them a connection with a note about attending the event. That way, at the event, you can re-introduce yourself but with research.

You know their job history, current responsibilities, and projects they’ve worked on. You can determine if collaboration would be a good option.

But even if you are not able to attend events in person, LinkedIn is still a good option for virtual networking.

Don’t be afraid to connect with and message others in your industry. You can respectfully and professionally encourage them in their endeavors and introduce yourself.

Make sure to brush up on the proper way to connect with powerful people in your industry. They are busy professionals, and there is a proper way to go about it.

Even if you aren’t reaching out to others, you should post a few times a week about your own business and projects. If people know what you are doing, they can collaborate. Additionally, you should interact with peers’ posts, so they become familiar with you.

Expanding Your Business Through Networking

Ultimately, to expand your business without sacrificing your margins, you need collaboration. Collaborating has several benefits. Namely, you will establish yourself as an authority in your industry. Plus, you will learn best practices while setting industry standards.

”You have to put yourself in connection with other entrepreneurs who are seeking the same growth as you if you want to expand your business.” - Dan Lok Click To Tweet

Dan Lok’s S.M.A.R.T. Challenge is an excellent example of entrepreneurs coming together to build unbreakable and sustainable businesses and growing their networks at the same time.

The S.M.A.R.T. Challenge is only run a few times each year, and with every challenge, business owners see phenomenal results.

Being a relatively short but impactful implementation program is what sets the S.M.A.R.T. Challenge aside from other business-scaling challenges.

The Reason You’re Not Scaling Your Enterprise

August 21, 2020 by Dan Lok

You’ve invested countless hours and dollars into your business. You’ve found some success. But now you’ve plateaued.

There is a point in business where it feels impossible to break a certain marker. And it’s easy to get complacent at that point. Being an entrepreneur who is scaling an enterprise is not easy. If it was, everyone would do it. But there is a reason you’re not scaling your enterprise. And once you learn it, you will be able to overcome it and take your enterprise to the next level.

You need to operate in a Business 3.0 world.

Is your enterprise operating in a physical location? What does your online presence look like? How does your team work together? What location do they work from?

Mid-pandemic, these answers will most likely look a lot different than they did a few months ago. But the reality is that the pandemic just accelerated what was already coming.

And that is Business 3.0.

You need to learn how to operate in a Business 3.0 world as an agile organization. So you can adapt to any situation. Then, you can scale your business in the face of pandemics, world crises, and economic meltdowns.

Because the world is not a stable place.

All throughout history, there have been wars, famine, world superpowers rising and falling, technology changes, and more.

In short: there has always been uncertainty. But there have always been businesses. Some businesses have survived more than others because they learned how to adapt.

For instance, did you know Nintendo is 130 years old? They have learned how to take advantage of coming obstacles and be flexible with changes. So they survived. Before the coin was even termed, they were operating under the foundations of Business 3.0.

What Is Business 3.0?

To understand Business 3.0, you have to understand what came before it.

Business 1.0 organizations operate in traditional offices and brick and mortar retail locations. Their move towards the online world has been slow and ineffectual. Has the pandemic and impending economic downturn already killed your business? It very well could in the near future if it hasn’t already. If this is the enterprise you want to scale, you need to act fast.

Business 1.0 organizations are doomed in the coming world.

Businesses who took advantage of the early internet are also suffering. These are Business 2.0 organizations.

Did your business jump on the internet right away but is now stagnant?

Business 2.0 organizations were quick to recognize and implement trends originally but have since become bloated. They have heavy infrastructure and massive overhead costs. With these hindrances, they cannot quickly adapt to the changing world. This leaves them stuck. They often only sell to a customer once. They have difficulty acquiring new customers and clients.

Business 2.0 organizations will also suffer in the coming world.

But Business 3.0 organizations are agile. They adapt to changes and take full advantage of modern internet and technology. We’ll dive into what exactly a Business 3.0 organization looks like in a moment. But first there has to be a deep understanding of what exactly Business 3.0 is to capitalize on it.

Business 3.0 is the era of social media, the internet, technology, and international teams. From here, businesses will be able to navigate and adapt to the ever-changing world.

So what does a Business 3.0 organization look like?

A Portrait of a Business 3.0 Organization

A Business 3.0 organization is one that is constantly adapting. They stay so nimble because they avoid the bloat of high overhead costs and infrastructure. And they dive deeply into the world of technology to stay on top of the changes in the world.

These businesses use social media to their advantage. So they can drive millions of free visitors to their websites each month. They use multiple platforms and generate engaging, educational content that capitalizes on a solid content marketing plan because they recognize people do not respond to outdated marketing tactics and require a new approach.

They also realize people don’t work like they used to. So they have fully remote teams or at least have their team spread out in clusters throughout the world. To scale an enterprise, this is crucial. By keeping your team spaced out throughout the world, you will keep your team working twenty-four hours around the clock.

And this continuity of work combined with properly utilizing social media leads to regular, repeatable, and recurring revenue. Their content marketing strategy helps them remarket. So they don’t have to constantly try to gain new customers. Instead, they capitalize on relationships they’ve already built by retargeting and remarketing.

Lastly, they combine all the above best practices to create systems that allow them to scale. Largely and quickly.

When you see a Business 3.0 organization, you know it. They adapt constantly to the new world, keeping their products and services relevant.

Benefits Of Scaling Your Enterprise As A Business 3.0 Organization

Business 3.0 organizations are built to scale at a large level. You will be utilizing multiple social media channels with millions of followers. Through these platforms, you will be able to generate leads and traffic. Additionally, you can more accurately retarget and remarket to your current audience.

Most importantly, you will be able to scale your enterprise with ease because your business will be nimble, agile, and adaptable.

By operating as a Business 3.0 organization, you are designing a business built to survive. With multiple streams of marketing, less bloat, and small teams working well together, you are setting yourself up to thrive. But what is still a threat?

Poor business planning is one of the top reasons businesses fail. So you need to give yourself the tools to keep your business strong. With a solid plan on how to pivot into a Business 3.0 organization, you will be giving yourself the business plan to scale. And if you’re not sure how to go about pivoting to Business 3.0, will show you the tools to do so in a bit.

Beyond your plan, you need to make sure you have a solid team working together to execute this transition. Your team is the sum of how well your business operates. And they are a critical part of your Business 3.0 transition and operations.

Is Your Team Helping You Scale Your Business?

40 years ago, a business would post a job in the newspaper or on billboards around town. Maybe they would give the listing to a local agency. People in the surrounding areas would apply for the job. If someone from a different state or town heard about the job, they would travel to the business to interview. And if they got the job, they would relocate.

There are a few assumptions in that scenario. First, the business owner would just hope the best candidate for the job would find the listing. Second, the new employee needs to be willing to relocate. Or the business owner would have to negotiate for them to move.

But that’s not the way business has to be done in this day and age.

Even before COVID-19 required most businesses to go virtual, many organizations were already exploring the idea. These businesses were embracing Business 3.0 best practices before they were forced to. So when the unexpected happened, they were able to adapt and survive. Whereas many Business 1.0 organizations suffered or failed when faced with this pandemic.

Beyond having the flexibility to survive trying times, working with global, remote, small teams gives your organization access to talent all over the world. You are not hindered by only hiring talent from the surrounding areas or finding someone who is willing to relocate.

Additionally, having small teams worldwide increases the diversity on your team while keeping you working twenty-four hours a day. This diversity will help you avoid cultural mistakes. And having a twenty-four hour work cycle keeps your team productive.

But most importantly, your team has to work together to help you scale your enterprise with ease.

How do you know your team is working with you to scale your enterprise? There are five key points that let you know if your team is working well for you.

#1: Makes The Business Omnipresent

Consumers need to see your brand five to seven times to remember it. With the prevalence of social media, however, that number will most likely go up. Consumers are inundated with brands every single day. Each time they open their phone, they see hundreds of brands staring back at them.

So your team needs to make your business and brand omnipresent.

What does it mean to be omnipresent?

Your brand needs to be everywhere.

”If your brand is not on every social platform, adding value to people’s lives, your business will suffer. Make yourself omnipresent.” - Dan Lok Click To Tweet

This omnipresence reinforces your brand and keeps your business at the forefront of your current customers’ minds. And retargeting is absolutely key in Business 3.0.

Why is retargeting so important?

Because acquiring new clients is somewhere between five and twenty-five times more expensive than retaining customers.

Not only will your loyal customers help you increase profits but they will give you the social proof to position your business at the top of your industry.

#2: Positions The Business Well

It is critical that your team is keeping your business omnipresent. But they also need to be positioning your business at the top of your industry.

As the executive, you have the opportunity to position yourself well. But if you put in the effort to get yourself to the top of your industry, you need your business to back you up. When someone works with your business, they need a top-of-the-industry experience.

And if you’re scaling your enterprise, then you’re going to have a team. This means working with your business is working with your team. Your clients won’t necessarily be working with you, so your team needs to represent your brand.

Thus, you need a team that is ready to position your business as you position yourself. They need to be ready to offer top-notch service and products.

Have you received consistent complaints about a certain area of your business?

Maybe this portion of the business seems small to you. So you haven’t addressed it in the past. But this gaffe could be indicative of a gap in your team. If you want to scale your enterprise, investigate why this is a recurring issue. How could you improve the process?

#3: Generates Leads

Another sign of a team that is working well for you is consistent lead generation. And a Business 3.0 team is not finding clients through old and outdated marketing techniques. Instead, they are operating and maintaining a system that consistently brings in new clients to you.

”If you want to truly scale an enterprise, your acquisition tactics have to work without you.” - Dan Lok Click To Tweet

It may sound oxymoronic to say that your business needs to succeed without you. But if you need to have a hand in every process, your enterprise will never scale to a large level.

This is why it is crucial that your team continues to operate a system that works to bring in new leads without you. Learning to establish this system is crucial. But we’ll get to that.

#4: Closes High-Ticket Sales

Are you not only generating all the leads for your business but also closing all the high-ticket sales?

This ties closely with lead generation. An effective team is not only generating the leads but also closing them. And this is not a simple task. Not every team can do this.

But if you want to scale your enterprise, your team needs to be an expert at closing high-ticket sales.

Whether your chosen form of sales is one-to-one or one-to-many, your team needs to be effective at closing these deals without you. Once again, being too involved in every process of your business will hinder your growth.

Is your team closing effectively for you?

If this is an area where your team is suffering, you should invest in making sure you are adept at closing high-ticket sales. With this skill, you will be able to pinpoint where your closing process is suffering. You will be able to establish a closing process and team to scale your enterprise.

#5: Helps You Scale Your Enterprise With Ease Through Adaptable Practice

Finally, you need to make sure your team is helping you scale your business with ease. This may seem like the most obvious step to making sure your team is helping you scale. But it’s critical.

In a Business 3.0 world, change happens fast. Sometimes without warning. And what worked before will not work again.

Does your team cling to what used to work?

Change is hard. And not everyone is ready to embrace it. Especially not as often as is needed in a large business scaling in a Business 3.0 world.

You need a team that is ready to adapt and change. A team that will stand behind you in challenging times with recommendations on how to improve. Because they are always looking at what is to come, not dwelling on what has happened.

If you want to know if your team is helping you scale your enterprise, this is a simple but painful question you have to ask: is my team ready to change?

Are you ready to change?

Are you ready to do what it takes to scale your enterprise in a Business 3.0 world?

How Do You Learn How to Scale Your Enterprise In A Business 3.0 World?

If you are reading to scale your enterprise in a Business 3.0 world, then you’ve made the first step. You have acknowledged that something in your business needs to shift to survive, thrive, and scale.

Now, you need to take the next step. You need to learn from someone who has already done the hard part. It is crucial you find a mentor who has learned from their own experience how to scale an enterprise.

The good news is that there are entrepreneurs who have done that. And there is an entrepreneur who shares the secrets he has learned with an exclusive group of executives who are ready to scale their enterprises.

Dragon 100™ is an exclusive program run by Dan Lok that helps executives take their organization from an ordinary business to a scalable enterprise. If you are chosen to be part of this limited advisory board, you will work with other executives to build flexibility, scalability, and high profits.

This is a rare opportunity. Why? Because Dan Lok has been there. He has built empires from the ground up. And it’s not every day that an entrepreneur who is still actively building multiple enterprises shares their secrets.

But for the first time ever, this opportunity is available for applications.

So what’s stopping you?

If you have the drive to build an enterprise and the mindset to make it happen, then the only thing holding you back is the knowledge you can gain from Dan Lok in the Dragon 100™.

So take the next step in scaling your business into a flexible, adaptable Business 3.0 organization built to thrive. The future is yours for the taking.