Strategic Thinking

Fastest Way To Become A Niche Authority?

What do you think is the quickest way to become an authority in your niche?

Well, as you may know…

I’ve written many books over the years.

From my best-seller FU Money to my latest book Unlock It.

There’s something special about writing a book for your marketplace.

So in this week’s newsletter, you’ll discover why I believe you should become an author, how to make it happen…

And if you’re already an author, we’ll also talk about what I believe are the 3 biggest challenges authors face and how to overcome them.

So, let’s get started.

Why You Should Become an Author

When clients ask me for advice on how to grow their businesses, other than formulating a marketing plan…

Very often, I suggest they write a book.

Why?

Because if you take the first 6 words of AUTHORITY, you get the word AUTHOR.

I firmly believe if you want to become an authority in your niche, other than starting a blog or a Youtube channel, writing a book is one of the best ways to do it.

Not only can you sell your book on Amazon, but you can also give it away as a lead magnet or set up a “free plus shipping” offer to get people to spend their first $1 with you.

How To Become An Author and Write Your First Book

It’s simpler to write a book and get it published these days.

You no longer need to find a publishing house to work with, as you can self-publish and put the book on Amazon very easily.

With that said, there’s still a lot that goes into a book, irrespective of the writing, so here are 7 things to think about.

1. Create a writing space and acquire your writing tools

Create a space that’s as inspiring and as free of distractions as possible.

Back in the day people used typewriters, but in this day and age, you’ll naturally use a computer.

You can also set up a Google doc and speak into your microphone if you dislike typing, and the document will transcribe your words.

This isn’t a perfect solution however, as it always requires you to fix words or phrases that aren’t clear.

2. Choose your BIG idea

Your idea MUST BE BIG.

The market is a wash with books, so if your idea isn’t big, use that idea for a social media post or a blog article.

3. Create your book’s outline

Break your big idea into as many chapters as you need.

You may like to break the chapters up into smaller segments as well.

This serves two purposes.

It gives you a clear picture of how the book will flow, and it breaks up this huge project into smaller pieces you can complete day by day.

4. Research

Your next step is to conduct your research to ensure your book is unlike anything else out there.

You really want to set your book aside from others in the same niche.

Can you provide a controversial perspective?

Can you go above and beyond the common info on your topic?

Can you provide a counter-intuitive solution to common problems?

5. Commit to a writing schedule

I know you’re busy, but make sure you can commit to a small amount of time each day, preferably at the same time every day.

If you find yourself getting too busy to complete your allotted time, even if you write for just 10-15 minutes, that’s better than not doing it all.

Skipping one day could turn into two, which could turn into three, and before long you’re way past your deadline.

6. NEVER edit as you write

When you’re in creativity mode you use your right brain.

On the flipside, when you edit you’re using your left brain.

Switching between the two is tempting but it’s counterproductive.

You want to get all your thoughts out without interruption.

Once you’re done writing, you can go back and edit to your heart’s content.

Make sure you wait a whole day before you begin editing and ensure you’re ruthless with your editing as well.

7. The Middle is always the hardest part to write

Half way through your book you may begin to experience self-doubt and wonder if you can pull this off at all.

If your outline is solid, then you’ll know your book will be too.

So, stay the course and never give up!

3 Common Challenges Authors Face and How To Overcome Them

I’ve narrowed the common challenges to 3 big ones, and if you eliminate these, it should allow you to be highly productive, eliminate overwork, and reduce stress.

The first challenge is “writer’s block”

No doubt, you’ve heard of this problem before, and I wrote it in quotations because I don’t believe in writer’s block.

Writer’s block is really a symptom of lack of research.

If you’ve ever sat down to write about something and thought “how do I start… what should I write?”

Then you simply haven’t done enough research.

Assuming you’ve worked through the 7 things I mentioned above, you’ll already have an outline for your book, the chapters, the topics you’ll discuss etc.

You’ll also have done all the research needed to bring your book to life…

So you’ll know exactly what you’re going to write about.

The second challenge is doing too much research

Yes, there is such a thing as too much research. 

So how do you know when enough is enough?

Your goal with your research is to find answers to as many questions you have about your big idea.

Anything you’re not sure of, you need to find an answer for.

Anything you think your market will want to know, you need an answer for.

So, create a set of questions or a checklist of unknowns, and once you’ve got answers for all of them, you can stop researching.

The third challenge is distractions 

Whether it’s the internet, loud noises, your friends calling or something else, you need to eliminate all distractions.

If you’re distracted while you’re in flow, it can take 25 minutes to get back in flow.

Think of the phrase “death by a thousand cuts”.

One cut won’t do much. 

Heck, maybe even 200 cuts won’t do much, but after 1000 you’re dead.

The same goes for distractions.

One or two distractions here and there won’t do much, but if you’re constantly distracted, you’ll never get anything done.

Bonus Challenge

Here’s a bonus tip.

In copywriting the headline is the most important.

After the headline, the first line of body copy is the next most important and must compel them to read the second line and so on.

In a book, you want your first line to reel them in or you’ll lose them fast.

You can make your first line compelling by writing something that’s surprising and counter-intuitive. 

Maybe you write a dramatic statement that’s controversial, or puts them right in the middle of a story…

Something philosophical…

Or something poetic.

These are just a few ways you can capture their attention.

In Closing…

Writing a book isn’t easy. 

If it were, all your competitors would be authors.

That’s why it’s a great way to set yourself aside and cut through the noise.

I hope this newsletter has helped you begin planning for your first or next book.

Until next time… go high ticket,

Dan Lok.

P.S. – While being an authority in your niche is a huge advantage, if you’re not quite there yet, it doesn’t mean you can’t grow and scale your business and create the lifestyle you deserve.

On July 26th, we’ll run our next S.M.A.R.T. Challenge™.

It’s my 3 day business immersive that teaches you how to SCALE, SYSTEMIZE, and SUSTAIN your business through any economic climate.

You’ll get the exact business playbook I’ve used to generate over $100 million in my coaching/consulting business in just a few short years.

You’ll also get to meet hundreds of like-minded and high level business owners and expand your network.

Many have attended the challenge more than once, because they feel it’s that valuable and powerful.

So, click here to secure your seat and see what all the fuss is about >>

You Can’t Scale Without This…

Your offer is one of the most important ingredients of your business…

Get it right, and everything about your business becomes easier.

Your copy is easier to write…

Your message becomes clearer…

Your closers have an easier time selling, and generate more revenue.

Get it wrong, and you may get by for a while, but when it comes to scaling, you’ll run into obstacle after obstacle.

Why An Irresistible Offer Overrides World-Class Sales Copy

Even the best sales copy in the world won’t sell a resistible offer.

For example, you’ll never sell steak to a vegan.

But a vegan will always buy vegan food, even if the food isn’t that high quality, and especially if there are limited vegan options.

Why You Must Never Sell What You Want

Most coaches, consultants, and experts simply become product pushers.

They sell what they want.

When they should be selling what the prospect wants.

A client centric offer to the right person will be irresistible.

So irresistible, they should feel like a fool passing it up.

So, if your offer doesn’t elicit that kind of response in your prospects this could be one of the most important newsletters you ever read…

And if you act on it, it could be the most intelligent decision you make all year.

Because by the time you’re done, you’ll have an offer your market simply can’t refuse.

How To Find Out What Your Marketplace Really Wants

Have you ever heard the phrase “Sell them what they want, give them what they need?”

It’s very true.

As business owners, often we know exactly what our prospects need, and so we create an offer around those needs.

But what they need and what they want are two very different things.

In fact, it may seem logical to start a business around something everyone needs, but it’s actually people’s wants that push them to buy.

No one needs luxury items, and yet the top 100 luxury companies generate $250-300 billion each year.

Here’s a dating niche example.

It’s obvious that if you’re a man looking to improve his dating life, more confidence will help you do that.

But men are more likely to wake up thinking, “I wish I had more dates”, rather than… “I wish I had more confidence, so I could get more dates.”

So if someone were to invest in a dating program, the main goal would be getting more dates, but it’s very likely they’ll experience a wide range of benefits such as higher confidence, greater certainty, more respect, amongst other things.

This is where market research comes into play.

Firstly, compile a list of all the features and benefits of your product or service.

Secondly, hit Amazon.com, Facebook groups, Forums, Reddit, and interview past clients.

You want as much information on different ways they’ve tried to solve their problem, and what their experiences were.

You want to know what those solutions did well, and where they could be improved, so when you create your offer you fill all the gaps.

The 7 Traits Of An Irresistible Offer

As a copywriter, I created offers all the time.

And this is why I firmly believe the more high income skills you have, the higher your chance of business success.

A very high percentage of business owners don’t have any business skills, and that’s why there is such a high failure rate.

But I digress.

Here are 7 traits of an irresistible offer:

  • Easy To Understand

    It’s easy to complicate things when you’re creating your offer, and a confused mind never buys.

    So, keep your offer to one idea.

    What’s the big problem you’ll help them solve, or what’s the main thing your market wants?

  • Highly Desirable (People buy what they want, not what they need, as discussed above)

  • High Perceived Value

    Your marketplace must perceive it as valuable.

    If your offer gives them multiple bonuses unrelated to their problem or goals, they won’t see them as valuable, even though another market may.

  • Easy To Get

    Have you ever been through a confusing process to get something so you gave up before you got what you wanted?

    We all have, and if you make your prospect jump through too many hoops, they’ll look for an easier way to solve their problem.

  • Must Be Believable And Credible

    Nowadays, people are very skeptical.

    It’s common for things to sound too good to be true.

    So you need your offer to be believable and credible, or they won’t take action.

  • It Has Urgency

    You want to give them a reason why they should buy right now.

    That could be anything you like.

    Maybe, you offer partial scholarships to only 10 people.

    Maybe you’re not taking on any new clients for 3 months after this intake so you can focus on client results.

    And if they want to work with you they’ll have to act now, or join the waitlist.

 

If you’d like further explanation on each of 7 traits, click here to watch my in-depth video >>

5 Questions Your Irresistible Offer Should Answer

Once you’ve created your irresistible offer, your market should be able to answer these 5 questions in their mind, just by looking at it.

  • What is it?

    Is it a product, a service, a program, or something else?

  • How will it help me?

    What’s in it for your prospect?

  • Why should I believe you?

    There are many ways you can get your market to believe you.

    Some of the most invaluable ways are with case studies and testimonials.

  • How much is it?

    This is self-explanatory, as everyone wants to know if their next investment will fit their budget.

  • Why is it relevant?

    Is your solution relevant to the way they’ll consume your content/program.

    If you offer your solution in a way that most people are unable to access it, say perhaps on DVD, when most don’t own a DVD player these days, this may cause you to lose sales.

At the end of this video, I summarize this in a short sentence that makes it easy to know if your offer is irresistible or not >>

Skip to 7:41 for the one sentence summary, or watch the entire video for further clarification on the above 5 questions if needed.

In closing…

Once you have a solid irresistible offer, you’ll notice many areas of your business improve just for this reason.

Any business I’ve built is built around the irresistible offer I create based on what the market truly desires.

Until next time, go high ticket,

Dan Lok

P.S. – Our next S.M.A.R.T. Challenge™ is just around the corner…

And if you’d like to spend 3 full days with me and hundreds of other high level coaches, consultants, experts, and trainers…

Where you’ll gain invaluable and groundbreaking insights into how I sold over $100 million in coaching and consulting…

And what it takes to SCALE, SYSTEMIZE, and SUSTAIN your business through any economic climate…

Then I strongly suggest you join us.

The event is completely virtual, so there are no excuses.

We only run this event a few times per year… so click here for the full scoop >>

7 Sales Tips To Multiply Your Sales

If you’re like most business owners, chances are you either dislike or hate selling…

Because it leaves you feeling sleazy, pushy, and inauthentic…

And if you’re sitting there nodding your head, then I think you’ll find this week’s newsletter a breath of fresh air.

Because today I’ll share different selling strategies, tips, and techniques, not just from my personal experience, but also pulled from other resources online…

In the hope they help you sell without selling.

Even if you’re great at sales, you may like to stick around, because I can almost guarantee you’ll find something that will help you elevate your business.

Why Sales Is A Dirty Word

Almost everyone has experienced a sleazy salesperson or two in their lifetime.

You know the ones.

They’re pushy and always trying to “get” you to buy whatever they’re selling.

Everyone hates to be sold, BUT they love to buy.

So it’s easy to see why most have a negative association with sales.

But as you may know, sales isn’t about getting anything.

It’s about helping your prospect solve their problems or achieve their goals.

Why No One Understands What You’re Selling

Before we get into the tactics etc, as you’re a coach, consultant, expert, trainer, or service professional, I feel this is important.

You’re selling a service which is tangible.

Your prospect can’t see or touch your service.

So it’s your job to communicate the value of what you’re selling so they become your client. 

This is what I call “selling the invisible value”.

And the best way to do this is by using the 3 P’s I talk about in the video below.

In short they are Positioning, Psychology, and Price, and you can get a full explanation of each here >>

How To Turn Your Prospect Into The Salesperson

An important technique I teach my clients and mentees is that you must turn your prospect into the salesperson.

The key difference between a typical salesperson and a closer or sales pro, is the questions they ask.

In fact, typical salespeople ask very few questions, they merely talk at the prospect and rattle off a list of features and benefits and reasons why the prospect should buy.

A sales pro, asks the prospect discovery questions to find out why the two of them are even speaking in the first place.

The sales pro finds out their motivations for booking the call, what their problems and pains are, what their goals and aspirations are…

And once they’ve diagnosed the problem, if they think they can help, and they feel there’s a good fit, they’ll close them on their service.

Now there are countless questions you could ask your prospect, and if you need help in this area, you’re welcome to take one of my trainings on the Dan Lok Shop…

But I want to give you 5 very powerful questions I like to ask my prospects that give me vital info to use later in the call >>

When you ask the right questions the prospect automatically opens up and the more they talk, the more they realize why they need your product or service.

Then they practically sell themselves on taking action to solve their problem with your help.

How To Redefine The Word S.A.L.E.S.

I saw a video on YouTube recently where the creator created an acronym for the word sales.

The words he used were Serve, Ask, Listen, Empathize, and Summarize, and it’s very true, [Name].

Your job is always to serve your prospects, and you can’t do that unless you ask the right questions, listen to the answers, empathize with them, and summarize their situation and repeat it back to them.

This shows you truly understand them and when they can tell you understand them, they’re far more likely to choose you as a solution to their problem.

KEY POINT: They won’t care how much you know until they know how much you care.

Click here if you’d like to see the full video of how to sell WITHOUT being salesy >>

I think you’ll find it very helpful.

3 Sales Tips To Help You Sell Covertly and Multiply Your Sales

If you’re someone who runs regular trainings, you may get people who attend more than one training, even if the trainings are very similar.

Whether this is the case or not, you may feel a little uncomfortable pitching at the end of your free training week in week out.

And if so, I want to share a powerful method my friend Sharran Shrivatsaa uses in his business so he can sell after every training he gives each week without feeling like he’s selling.

If you haven’t heard of Sharran, he took his real estate company Teles Properties from $300 Million to $3.4 Billion in 5 years before exiting.

He has multiple other noteworthy achievements under his belt and he often speaks at my events…

And in this video, he shares his unique strategies for selling without selling and getting a constant flow of referrals.

Click here to discover Sharran’s strategies and implement them into your business today >>

Alex Hormozi’s Unusual Selling Method

Have you ever felt like if only you were more dishonest you’d make more sales…

But you know that you’d never be able to live with yourself if you felt like you lied or weren’t completely honest with your prospects?

Well, fear not my friend because you’re about to discover a stupidly simple persuasion technique that helps you sell far more than you’ve ever sold before…

But also allows you to be completely upfront and honest with your prospect.

It’s the best of both worlds, and I can think of no one better to teach it to you than Alex Hormozi, author of $100 Million Offers.

So if you want to know how to increase your conversions WITHOUT lying to your prospects, click here >>

A Counter-intuitive Method For Detaching From The Sale

I mentioned this in a previous newsletter…

But detaching from the sale is one of the best strategies to increase your sales.

The problem is, it’s much easier said than done, especially when your business is supposed to make money, and at times, making a sale feels like make or break.

So, I found a video that breaks it down for you very simply.

Skip to the 8 minute mark to discover this counter-intuitive but highly effective strategy >>

In Closing…

There are so many great sales strategies and techniques out there that will completely change the game for you.

But if you just implement some of the strategies in this newsletter you’ll see great results over time and sometimes even very quickly.

Until next time…

Go high ticket,

Dan Lok

P.S. – If you’d like to take the guesswork out of your business and install systems that help you market and sell more of your products and services…

Then you’ll love my 3-day business immersive the S.M.A.R.T. Challenge™.

When you join us, you’ll get 3 full days with me where you’ll discover exactly what I’ve done to SCALE, SYSTEMIZE, and SUSTAIN my business through one of the toughest economic periods in history.

You’ll get actionable strategies you can implement into your business as soon as each day is done

For the full story, click here, and I’ll see you there >> 

Not Paid What You’re Worth?

Coaching can be one of the most rewarding and lucrative businesses you could start…

But, as you may know, you can’t just be a coach, consultant, expert, or trainer, and make a lot of money.

Your business must be a HIGH TICKET business.

One HUGE problem I see many coaches and consultants face is they don’t know their worth.

As such, they give away free strategy or clarity calls…

And don’t charge enough.

So, in this week’s newsletter you’ll discover how to charge what you’re worth, so you can make more money, and give yourself and your family the lifestyle they deserve.

Why Free Strategy Session Don’t Work

I know a lot of the “gurus” out there swear by giving away free sessions…

And on the surface it makes sense.

If you give away a full session and coach someone to help them achieve part of their goals, they’d be crazy not to work with you long term and pay for your time, right?

WRONG!

In my experience, a high percentage of people who take you up on a free session do so because it’s free.

And if you want to hear a funny story of when I first started out doing marketing consulting for free, you’ll love this video >>

So what’s the best way to close new clients?

I shot you a quick video where you’ll discover:

  • Why free strategy sessions are BAD for positioning
  • Why it’s hard to balance how much value to give in each call
  • How to set up a filter to ensure you only speak with qualified prospects
  • My 4 step qualification process that makes the above filter work, and more!

Click here to check out the video >>

So you now know why free coaching or consulting is a bad idea, but that’s only half the battle.

Your next problem could be charging too little for your time.

So let’s talk about that.

3 Reasons Why Undercharging Hurts Your Coaching Business

In my opinion, high ticket pricing is the only way to run a business.

Why?

Because low ticket prices create all kinds of issues.

One HUGE problem is your ability to spend money on marketing and advertising.

If your fees are low, there’s no way you can outspend your competitors for clients.

And this is just the beginning.

Here are 3 other reasons why undercharging hurts your coaching business.

  1. A new client doesn’t add much to your bottom line.

    If you’re going after cheap clients with a low cost offer, you’ll likely see a big client turnover as they aren’t very committed.

    You’re constantly having to hunt for new clients but if your margins are low, one client doesn’t make much difference to your business.

    Versus, high ticket clients which could mean an extra few thousand to your business.
  2. Naturally, if one client doesn’t make a huge difference to your business, you need far more clients to make 6 figures.

    Rather than 20 $5K clients to make $100K, you’ll need 200, $500 clients.

    Remember, Business is a game of margins not volume.
  3. The less they pay, the less committed they are, as I mentioned above, but they also value you and your expertise less.

    Versus, high ticket clients who are committed and truly value your time, expertise, and what you have to offer.

    They know real results take time, and they’re not afraid to put in the work to get what they want.

For 2 more reasons why undercharging hurts your business, click here >>

How To Calculate What Your Time Is Worth

No matter how much you want to make per year, your time has a specific value.

If you don’t know what that number is, you’ll likely invest your valuable time into tasks that won’t take you closer to your goals.

Put another way, if you invest your time into a task so you can save $50 an hour, but your time must be worth $200 an hour…

Then you haven’t saved $50. You’ve lost $150, because you could have earned $200 and outsourced the task for $50.

So, if you want to calculate how much your time must be worth in order to hit your income goals…

Click here for a very powerful video on the value of time and charging what you’re worth >>

In the above video, you’ll also discover WHY you may not be charging what you’re worth and more.

How To Know Your Worth and Ask For It

As you saw in the last video, your goal should be to ask for as much as the market is willing to pay.

If your clients are getting value and a good return on investment, then they’ll have no problem paying you what you’re worth.

Price is only a problem in the absence of value.

That’s how I’ve been able to go from charging $5K an hour, to $10K, and now to $25K per hour.

Because they’re not paying for my time, they’re paying for the value I bring to the hour.

Here’s a short clip from High Ticket Mastery™  where I talk about charging what you’re worth and the two common reactions people have when you tell them your price >>


In Closing…

Stay away from free sessions…

Don’t undercharge…

Know what your time must be worth…

And always charge as high as the market is willing to pay

Until next time… go high ticket,

Dan Lok

P.S. – If you want to charge what you’re worth, then you won’t want to miss the S.M.A.R.T. Challenge™…

Where over 3 mindblowing days, you’ll get the exact blueprint I’ve used to sell over $100 million in coaching and consulting in just a few short years.

You’ll also surround yourself with hundreds of high level coaches, consultants, and experts, as you get my favorite strategies for SCALING, SYSTEMIZING, and SUSTAINING your business in any economic climate.

Everytime we run the challenge we step it up a notch, and if the last challenge is anything to go by, then this one will be a force to be reckoned with.

So, click here for the full scoop and secure your seat while you still can >>

3 Ways To Upgrade Your Environment Fast..

You spoke, and we listened…

A few weeks ago we sent an email asking what topics you’d like us to cover, and one thing that stood out was you wanted to hear more of my stories.

So, in this week’s newsletter, you’ll discover some of my personal stories about why your environment is KEY to your success, and how to upgrade your environment to help you achieve your goals.

The Day I Got Arrested…

I was a punk kid in my early teens.

I hung out with gang members…

Got up to no good…

Smoked cigarettes…

And was on the fast track to nowhere.

One day, mom and dad had to pick me up from the police station.

One policeman said to my dad “If you don’t get your son out of here, he’ll end up in jail.”

Not long after that, dad decided to move mom and I to Vancouver, Canada.

A brand new environment where I couldn’t get into trouble any longer.

The Day I Realized I Could Become a Millionaire

As you may be aware, after failing at 13 businesses, I met my mentor Alan Jaques.

Alan taught me how to write sales copy, which was my first high income skill.

After I’d been out on my own for a while, and one day Alan asked me…

“Dan, I’m thinking of getting a few smart people, kind of like a mastermind, and we’ll get together once a month and brainstorm ideas. Do you want to join us?”

There I was, a kid in his early twenties, making low 6 figures in income, being invited to a millionaire only mastermind.

Of course, I said “yes”.

I remember the first few meetings were very awkward.

I felt out of place.

They were talking numbers I couldn’t even fathom.

5, 8, 10 million dollars etc.

At each meeting, I got more comfortable being around them.

And although I was usually very quiet, I began to share some of my ideas.

To my surprise they actually liked them.

One day, after about 6 months, we were at lunch, when it finally hit me.

I thought, “These guys are making 50 times more money than I am, but they’re not 50 times smarter, and they don’t work 50 times harder than me.”

It was at that moment, I had an identity change, and realized that if I wanted to, I could become a millionaire.

This never would have happened if I hadn’t accepted Alan’s invitation and upgraded my environment.

The Day My Fish Died

Back in 2019, I had a large fish tank.

Many of the fish became sick, and sadly, one also died.

I called the fish tank expert and I asked him what I could do to treat the other fish.

He said “Dan, if your fish are sick, you don’t treat the fish, you treat the water.”

I thought about it for a minute, and realized he was completely right and how this analogy applies to life and success.

A lot of people downplay their environment but, as you’ve read above, your environment is highly influential.

Change your environment and you’ll change your life.

Now, before we get into ways you can change your environment and upgrade the people you hang out with.

Click here to watch this video for powerful insights into how I managed to continually upgrade my peer group to hit higher and higher levels of success >>

3 Ways To Upgrade Your Environment To Win In 2023

If you’ve been following me for a while, you’ll know I truly believe in the power of mentorship.

With that said, the quickest way to find success centric people is by joining a paid program online.

It’s the simplest solution, and if you find a mentor with a large community, you’ll find no end of people to connect with and meet up with if you’re in the same city.

Yes, you’ll need to invest money, but depending on what you’re looking for, it doesn’t have to be thousands of dollars, although it could be.

Another way is by attending live events.

The investment is typically far greater, as you have to pay for flights, accommodation and ticket costs, etc, unless the event is local to you.

But live events are one of the best places to connect with people all looking to level up in life.

If you’re lucky enough to live in a big city there will be successful people you could approach and perhaps ask them to mentor you like I did.

Typically this is a long shot, unless people already pay them to mentor them, because they’re busy and have no reason to mentor a stranger.

But it’s worth a try, as long as you bring something to the table and have something they need, which in my case with Alan was me helping him around the office.

How To Find Successful People If You Live In A Small Town

If you’ve got nothing going on in your city or town, my best advice is to move.

If you’re serious about your life and success, relocating to a bigger city is one of the best things you can do.

Not only will it upgrade your environment automatically, when you step outside your comfort zone like that, it forces you to level up just by the fact you’re in a new environment.

You’ll unlock a new confidence you never knew existed.

You’ll be forced to meet new people.

And more than likely, because your family and friends expect you to act a certain way…

When you’re in a new environment, you’ll actually reinvent yourself and do things outside your norm.

How To Create An Environment For Success

If you work a 9-5 your environment will be mostly out of your control, but do what you can do to make it as conducive to success as possible.

I like to have what I call wealth triggers in my home office…

And if you’re someone who works from home already you may like to add some to your office too.

You can get an idea of some of my wealth triggers here >> 

Forbes.com wrote a great article on other ways besides adding wealth triggers you could upgrade your work environment and set yourself up for success.

You can check it out here >>

I hope you’ve enjoyed this week’s newsletter and discovered why your environment is so important as well as ways to upgrade it.

See you in the next one

To your success,

Dan Lok

P.S. – If you want to make 2023 your best year yet, click here to check out my “Your Best Year Ever” training >> 

Inside, we’ll work together to turn your biggest goals into your personal reality in 12 months or less.

Click the link above for instant access

Clients Get The Better Of You?

No matter how you look at it, your clients either make your business a pleasant dream, or chilling nightmare…

We’ve all had clients from hell…

But what I’m talking about is not making things harder than they have to be, even if you have great clients.

So, in this week’s newsletter, you’ll discover 5 ways you can improve how to deal with your clients to improve both your and their satisfaction.

Why You Should STOP Solving Your Clients Problems

“What Dan, I shouldn’t solve my clients problems?”

“Exactly”…

Here’s what I mean.

If you’re a consultant, then solving your clients’ problems is part of your job, but if you’re a coach…

Your job is to give them what they need and provide guidance and support so THEY can solve their own problems.

The reason for this is twofold.

If you solve every little  issue they have:

  • You’ll be overworked and underpaid…
  • They’ll ALWAYS be dependent on you, and NEVER grow…

Neither of those outcomes is favorable for either of you.

So, by all means be there for them, give them everything they need to succeed, but NEVER enable them to remain helpless.

Why You Must Track Your Clients’ Progress

Tracking your clients’ progress is essential if you want to keep your clients long term.

But as your client base expands it can get difficult to manage.

You’ll want to create a Google doc or spreadsheet with a tab for each client.

On each tab you’ll have where they were before starting with you…

And you can monitor their progress each week or month that passes based on specific metrics.

You can spend a little time each week filling in the sheet for all clients, or hire a virtual assistant if you’re too busy…

And this gives you a solid idea of where each client is and what they need to reach their goals and continue progressing.

How To Manage Your Clients WITHOUT Overwhelm

Do you ever feel like you’re being led by your clients or they have a little more control than you like?

I see this far too often in coaching/client relationships.

The key to managing your clients is training them so they know where the lines that must not be crossed are.

You want to be there for your clients, but you other life and business priorities too.

Unless there’s an emergency, they can’t just call you whenever they want.

If you’d like to know how I manage my clients, then click here to watch this short but insightful video >>

Remember, you’re the leader in this relationship.

You set the ground rules with compassion of course, because you’re often their only line of support on this journey.

How To Have Tough Client Conversations Without Losing Your Cool

Being a leader has many difficult moments…

And having tough conversations is definitely one of them.

In my opinion B.S. has no place in a coaching and consulting, or training relationship.

Your ability to do your job well relies heavily on your ability to tell your clients what they NEED to hear, not what they want to hear.

Things may get awkward.

Your clients may not like it, but it’s essential to both your current and future success.

So how do you have those tough conversations with your clients?

Good question.

In this video, Mel Robbins outlines the 4 things to do that make having difficult conversations easier >>

In short they are:

  1. Acknowledge responsibility
  2. Define the outcome
  3. Listen & validate
  4. Restate the outcome

But I suggest you watch the 4 minute video to gain full insight into how to have difficult conversations.

How To Ensure Your Clients Don’t Quit Early

There’s nothing worse than putting so much time and effort into your business, programme, and clients, only to have them pull out before the programme ends.

Your lifetime customer value is very important, so if you run a 12, 24, or 36+ month program…

Your success hinges on your clients not quitting early.

There could be many reasons why they may want to leave.

Four of the biggest reasons are:

  • They don’t feel like they can keep up so they have to quit
  • They’re unhappy with the experience so they fire you
  • They found a service they feel is better so they exchange/fire you
  • They’re experiencing time, financial problems, or personal problems

The question is, what can you do to ensure they don’t quit?

As always, effective communication is KEY, which is where your new tough conversation skills become vital.

I shot you a quick video on how to have a high client retention rate >>

How To Understand Client Lifetime Value

The lifetime value of each of your clients is one of the most important Key Performance Indicators (KPIs) in your business.

Here’s how you calculate it.

Say you have 10 clients and you have been working with you for a total of 32 years.

Your average client relationship then lasts for 3.2 years.

Let’s say your profit for each client on your $5K program is $3.5K.

This means your Customer Lifetime Value is $11.2K which is $3.5K profit x 3.2 years.

When you know this number you know how much you could spend to acquire each customer and still remain profitable.

This also highlights how important client retention is, because the lower your LTV, the less you can spend to acquire customers and the less profitable your business.

In Closing…

Your business is a never ending puzzle with pieces that can go almost anywhere.

I hope this newsletter has helped clear up some of the ways you can keep your clients and yourself happy and your business more profitable.

Until next time… Go High Ticket,

Dan Lok

P.S. – The countdown till our next S.M.A.R.T. Challenge™ is well underway.

If you weren’t aware, the S.M.A.R.T. Challenge™ is our 3 day business immersive where you’ll discover the exact strategies and secrets we used to generate over $100 million in our coaching/consulting business in just a few years.

You could say, I’m handing you my business playbook on a silver platter.

We go LIVE on July 26th, and our recent challenge surpassed all expectations.

This is truly an event you won’t want to miss if you’re serious and committed to the success of your business.

You can get the full scoop and save your seat here >>