Strategic Thinking

How To Build A Global Virtual Organization

June 13, 2020 by Dan Lok Leave a Comment

Are virtual organizations something to look out for in the years to come? Since COVID-19 was discovered, it has created fear and doubt. It has also created change. Old traditions can no longer be upheld. These are traditions such as working from the office. More and more companies are allowing their employees to work from home. What once was a luxury now becomes the norm.

COVID-19 is responsible for changing how employees work. It has forced people to think about the future. People that were against working from home now support it. They realize it’s beneficial both to employees and to the company. It’s foolish to continue to force employees to work from an office. As a result, the job economy is shifting towards a gig economy.

Working from home has always been a thing. But until recently, only a few employees were allowed to do so. This is mainly the fault of bad business leaders. They forced traditional beliefs onto their employees. They didn’t think about what’s most efficient. Instead, they blindly followed what everyone else was doing.

Business owners are starting to realize their foolishness. They are starting to realize that working from home has benefits. Companies can reduce their expenses. And employees perform more efficiently and save time.

As technology continues to evolve, so will virtual organizations. Business leaders that understand the value of a virtual organization will flourish. Those that don’t, will slowly fall behind until they are irrelevant.

A virtual organization has many advantages over a local one. If you’re looking to build a virtual organization, read on.

Building A Global Virtual Organization Starts With The Leader

Given a choice, most employees would love to have the option to work from home. But what an employee wants is not necessarily what they will get. For many years, this has been the case. Employees have been told they cannot work from home. That they must come into an office workspace to get their work done.

From a logical standpoint, this makes little sense. Many employees do not need to be in the office to get work done. Employees like programmers can work from anywhere in the world. All they need is an internet connection and a computer. They have the ability to work from home. But they cannot, because of company rules.

Many bosses do not allow their employees to work from home. They allow their personal opinions to get in the way of achievement. They are afraid their employees will slack off. Or that they will be less productive. Ironically, the opposite is true. Studies show employees are much more productive when they can work from home.

To build a global virtual organization, you must be a good leader. A great business leader understands that there are many ways to do things. That the ‘common’ way of doing things is not always the best method. If you want your employees to deliver their best work, you need to cater to their needs. You need to give them what they want.

Becoming a great business leader is not easy. It takes a lot of time, failure, and dedication to improvement. Fortunately, building a global virtual organization is not hard. In fact, it’s one of the most rewarding things a business owner can do.

A Great Business Leader Leads From The Front

So how do you build a virtual organization? Contrary to what you may believe, it is not a one-person job. In fact, it is not even the job of the business leader.

Business leaders are people who hold positions of power. They may be CEO’s, President’s or even Executive Directors. Their role is to guide the company in the proper direction. So building a virtual organization has nothing to do with the business owner.

Most business leaders do not realize this fact. They think it is their job to control how the business operates. In reality, that contradicts what they are trying to achieve.

Let’s say you are a business owner. To keep your business running, you need a good team. Thus, you hire many types of people. Some of your employees are managers – their role is to manage other people. Other employees are executors – their role is to execute what they are told. This creates a chain of command, with you at the top.

This example illustrates how a business leader is supposed to behave. But in reality, many business owners are not at the top. They are near the bottom, telling people what to do. They micromanage their employees and stress them out. Or they are setting strict rules and guidelines on how things should be carried out. Instead of focusing on the big picture, they focus on the small things.

As a business leader, you want to focus on the big picture. Creating a virtual organization means finding the right people to help you do it. You don’t worry about the operational details. That’s for your team to figure out.

Business leaders should not worry about small details. They hire people to handle those things. Share on X

How To Build A Global Virtual Organization Using ‘A Players’

To build a global virtual organization, you need the best people you can find. You need ‘A players’. These are the kind of people that have passion and drive. They strive to improve themselves every single day.

You want these types of people in your organization because they will help it grow. They understand that they can use their skills to contribute to the company. The more successful the company is, the more they are rewarded for their efforts.

Entrepreneurs make great additions to a virtual organization. This is because they know how to manage themselves. They take responsibility for their successes and their failures. Their mindset is one that is wired for success. Unlike employees that only care about a paycheck, A players go above and beyond.

These types of team members can help you build a global virtual organization. Because they are self-starters, they need little guidance to get things done. They have the skills to solve problems and get results. If you want to build a global virtual organization, they’ll handle everything. As the business leader, all you need to do is provide them with guidance.

The Dan Lok brand is a good example of a global virtual organization. Everyone is self-sufficient, which means the workflow is very smooth. Many of our team members are A players with a drive to make results happen. We are located around the world. And communication is done using online platforms like Slack.

At the top of this organization is Sifu Dan himself. But Sifu does not spend his time actually building a virtual organization. He leaves that task to his team members. Instead, he spends his time planning out his next moves. He does what no one else can do, which is lead the company.

Develop A Good Workplace Culture

A virtual organization needs it’s team members to be in sync to work well. If you want to build a virtual organization, you need to ensure everyone can get along. This means creating a good workplace culture. Having a strong company culture will greatly increase your chances of success.

For example, let’s say you are an employee who fills out forms. These forms are then given to managers, who approve or deny your work. In a bad workplace environment, managers may favor certain people over others. This can lead to a lot of problems. They may deny your work because of their own personal reasons. Internal politics is bad news for any organization. It slows down the process and produces lackluster results.

Compare this to a good workplace environment. There are no politics or hidden agendas. Everyone conducts themselves in a professional manner. And team members are all on the same page. This creates harmony because everyone is working towards a common goal.

Harmony is crucial to success. This is because you need great people to make great things. If everyone is fighting each other, nothing gets done. To create great things, people must work together.

A good workplace environment focuses on growth and excellence. When everyone helps each other, everyone succeeds. The more people succeed in an organization, the more the company grows. The more a company grows, the more successful it becomes.

Make your team members understand that company success benefits everyone. The more revenue a company produces, the more you can afford to pay team members. Success is not a one-person show. It is about many people getting together to achieve a similar goal.

“If you want to go fast, go alone. If you want to go far, go together. Share on X

The Benefits of A Global Virtual Organization

There are many benefits to a global virtual organization. Firstly, it allows you to source talent from around the world. This means you’re more likely to find the right person for the job.

A virtual organization is made up of many team members from around the world. It bypasses limits such as physical distance. This means a company doesn’t have to limit their team to one location. They can find people from all types of backgrounds.

Compare that to a local business. It can only hire people that live nearby. Local people may not have the skills they are looking for. This creates weaknesses in certain areas of the company. As a result, this limits how much the business can grow.

Secondly, a virtual organization allows people to work from home. This has many benefits for both the employer and the employee.

You may already know employees that work from home are more productive than those that do not. Working from home means employees do not have to transit. They do not have to spend hours stuck in traffic to get to their workplace. Instead, they can spend that time getting work done.

Employees that can work from home are also happier. The higher employee morale is, the better they will perform. This means they won’t be wasting time shooting the breeze at the water cooler. If their needs are met, there’s nothing for them to complain about. As a result, virtual organizations are very efficient at getting things done.

Companies also save on expenses such as office space. Because their employees work from home, they do not need to rent an office building. They can save money and invest it in the company.

A Global Virtual Organization Can Adapt To Change Quickly

Team members in a virtual organization communicate with online tools. This is very useful during times of crisis, because it allows them to adapt to changes quickly.

Take COVID-19 for example. Employees have been laid off. Revenue has been slow and unstable. More and more businesses are making the shift online. As a result, business owners have had to make sudden changes to adapt to what’s happening. This creates a lot of stress for everyone involved.

Humans are naturally wired to dislike change. This is true in both virtual and local organizations. As a result, having good team members makes changes less stressful. They can handle sudden changes better because they have a strong desire to succeed.

Another reason virtual organizations are beneficial is because of communication and time. Communicating down the chain of command takes time. A business leader tells their directors about new changes. They then inform the managers. And these managers then inform everyone else. This takes a lot of time. The more time it takes for team members to communicate, the slower things get done.

A virtual organization reduces the amount of time needed for changes to occur. Communication using online tools is nearly instant. You can simply send them a message, and they’ll read it on their own time. It doesn’t matter where or what they’re doing. They will receive your message. As a result, virtual organizations make things convenient.

During times of crisis, many businesses make changes. This is one reason why virtual organizations are so effective. They can adapt to what’s going on better than others. As a result, they’re the first ones to take advantage of opportunities when they arise.

A Global Virtual Organization Is Resilient

Throughout history, all great empires have fallen. They may have been attacked by neighboring countries. Or grown so big that they do not know how to manage themselves. This is because they do not realize one principle: the bigger you are the more vulnerable you become. If you want to succeed in business, this is an important principle to be aware of.

Being big is not necessarily an advantage. In certain situations, it is actually a weakness. This is because all your resources become focused into one entity. In terms of business, this is like putting all your eggs into one basket.

Putting all your eggs into one basket means you only have one chance to fail. If the business collapses, you go bankrupt. There is no way to recover your losses.

Compare that to someone who divides up their eggs into many baskets. The more baskets they put their eggs into, the more times they can fail. If one basket fails to produce results, they still have five more to rely on. One failure will not wipe them out.

A virtual organization operates in a similar way. Team members located around the world are like a few eggs in many baskets. If one area of the world suddenly shuts down due to a pandemic, it’s not the end of the world. There are still other team members you can rely on to make up for those losses. You can still operate the business even in times of crisis.

Discover How Super Successful Companies Run Their Organizations

Building a global virtual organization starts with the leader. A great business leader knows how to lead from the front. They must act as the visionary in the company, and lead everyone towards a common goal.

A virtual organization needs “A players” to become successful. These are people with drive, passion, and determination to get things done. They’re different from ordinary 9-5 employees, because of their mindset and beliefs. Many “A players” are entrepreneurs with valuable skills.

Finding good people is one thing. Keeping them is another. A good workplace culture lifts people up. It encourages them to become the best version of themselves. This is especially important in a virtual organization that uses online communication.

Unless your team members are all on the same page, there will be issues. Communication problems will lead to people feeling they are not heard. This can create internal conflict and politics, which will slow down the business.

Virtual organizations have many benefits over traditional companies. Working from home boosts productivity in employees. Companies save on rent and office supplies. And in times of crisis, changes can be made quickly. This gives businesses an advantage over slower competitors.

Building a virtual organization requires a good leader, good people, and a good business plan. Successful business leaders know how to plan for success. They know how to look at the big picture. If you want to know how successful companies run their organizations, get your copy of the Dragon 100™ checklist here.

How To Evaluate Business Opportunities And Ideas

April 9, 2020 by Dan Lok

There are many different types of business opportunities that entrepreneurs are regularly faced with. The reason why so many people are interested in pursuing business opportunities and ideas, is because they want to achieve wealth, success, and significance.

Perhaps you are evaluating business opportunities because you want to figure out a way to make more money, or you just want to feel more important, or more significant. Or, maybe you are simply ready to have something to call your own, and you’re eager to be your own boss.

It’s possible that for you, the wealth you could achieve from pursuing certain business opportunities would simply be a bonus of something greater: A sense of accomplishment and that satisfying feeling of fulfillment and achievement.

Types of business opportunities you may find yourself evaluating include starting your own business, expanding your current business, or investing in someone else’s business. You may even be thinking about buying an existing business that is currently for sale, or inventing a new product or service that you think there would be a demand for.

No matter which type of business opportunity you are considering, you must always properly assess, evaluate, and analyze any business opportunities that come your way. According to the most recent data from the U.S. Bureau of Labor Statistics, about 20% of small businesses fail in their first year, and about 50% of small businesses fail in their fifth year. So, now you understand why it’s so crucial to analyze and assess business opportunities instead of jumping right in. But how do you evaluate business opportunities properly? Below are several important tips, so be sure to read this entire article.

Evaluate Business Opportunities By Asking The Right Questions

Properly evaluating business opportunities requires that you ask all of the right questions. Don’t look at business opportunities through rose-colored glasses and assume it’s a great idea. Instead, ask yourself the hard questions.

For example, ask yourself what could go wrong. What is the downside? Have you done a proper risk assessment, and if so, what are the risks? Do you have the funds to start this business? How much will it cost? How much money could you lose?

And, even more importantly, ask yourself, Could I live with losing that much money?

Then ask yourself, Is there a sufficient market demand for this product? As well as, How long will it take to see a return on my investment? If the answer is that you might not see a profit for 5 years, then you need to ask yourself if you’re okay with that.

It’s also important to evaluate business opportunities by looking at the opportunity from other perspectives, rather than having tunnel vision. Ask yourself, What don’t I know? And ask, What don’t I see?

Critical Thinking Skills are Necessary to Evaluate Business Opportunities

Business is an intellectual sport. Whenever you’re evaluating new business opportunities, you must put aside some time to think. Whether that thinking time is done in your quiet home office, or you’re in deep thought as you stare out the window at your corporate office, this thinking time is crucial.

However, evaluating business opportunities doesn’t just require thinking. It requires critical thinking. You don’t just want to only think about how awesome this business idea is. (Many of my bad business decisions started off with a “good” idea, and a bad assumption on my part that the business would do well.) Your thinking can’t all be positive thinking about how great this opportunity is. Instead, you must engage in critical thinking. Part of critical thinking is asking yourself some of the questions mentioned in the section above.

Critical thinking, however, is also your ability to analyze the information objectively and without bias. A critical thinker will think about all of their research findings, industry data, facts, and run the numbers to see if the idea makes sense financially.

Critical thinkers are good at evaluating business ideas from a logical and fact-based standpoint, rather than from an emotional or biased standpoint. Share on X

Critical thinking is important, as it’s smart to analyze business opportunities from a logical, objective and fact-based standpoint, rather than from a biased or emotional standpoint.

Conduct Market Research

When evaluating a business opportunity, it’s crucial to spend the time doing proper market research. Why? Because you need to know if there’s a high enough demand in the marketplace for your product or service. How big or small is the market for your type of business?

You also need to be aware of how much competition there is. Perhaps the marketplace is already over-saturated with similar businesses, and tons of competition. Do you think you can compete? How will you stand out?

You can also research how other similar businesses in the marketplace are doing. Are they struggling, or thriving? And what are the buying patterns of consumers in this market?

Market research also involves understanding the market and its current trends, what consumers in the market are currently paying for similar services, and where there is a gap that needs to be filled.

You’ll definitely have to do a lot of other research while evaluating business opportunities as well, but market research is one of the most crucial types of research.

A Detailed Business Plan is Required

You probably shouldn’t consider any business opportunities that don’t have a well-thought out, complete business plan.

If you are considering starting your own business, your first order of business is to do your research and write out a detailed business plan.

If you think you’ll need investors to start your business, know that they’ll require a business plan from you.

If the business opportunity you’re considering involves investing in someone else’s business, you should of course take a look at the business plan, and have industry professionals you trust take a look at it as well. You want to know that the business idea is one that is likely to be sustainable and profitable, within a market where the demand is there.

Ask a Professional Business Consultant for Advice

It’s worth it to hire a business consultant with credentials. Get their input. Business consultants typically charge by the hour, and they can help you with many things. If you don’t have a business plan yet, the consultant can give you tips on how to write a compelling business plan, and what should be included in it.

If you do have a business plan that was given to you or written by you, some consultants are willing to take a look at it, and provide their expert opinion. This helps you properly evaluate the business opportunity.

Hired consultants or lawyers can also help you review any contracts that you’d have to sign in order to take on a business opportunity.

Get Opinions from Industry Experts

Whatever business idea you’re evaluating, it’s always a smart idea to get advice from industry experts or mentors. Perhaps your mentor will advise you to write down a pros and cons list, or conduct some other ‘thinking’ exercise that is helpful while evaluating the business opportunity. Or, maybe an industry expert you talk to will have valuable insight on the current needs of the marketplace.

The more advice and opinions you get from business experts and industry experts, the more insight you’ll have into the business opportunity in front of you.

Think Outside the Box

How you think about your business, and how you execute your ideas, that’s what increases the odds of success. Intel is very valuable, as is thinking outside the box.

In the tough work of business, there are winners and losers. Contrary to popular belief, those who work the hardest and hustle the most, don’t always make the most money or succeed the most.

Those who take the time to think outside the box, however, are more likely to succeed. An example of thinking outside the box is thinking about a gap in the marketplace, where there is a demand. This is often referred to as a ‘blue ocean’ market, where there aren’t any competitors, as it’s a current gap in the market, but the demand is there. If you pursue ‘blue ocean’ business opportunities with no competition but tons of demand, you have a higher chance of success.

Financial Assessment: Is There a Less Expensive Opportunity to Consider Instead?

I want you to imagine that you’re evaluating a business opportunity in the restaurant industry, because you’re interested in this industry. Let’s say you’re thinking of opening a restaurant. But you know it’ll be expensive. This is not a cheap business opportunity. You have to think of the cost of the real estate, the labor, the cost of the food, the wait staff, etc.

Think about how much it will cost to open and run a restaurant. Let’s say you figured out that it’ll cost at least $400,000, and you have an investor willing to put in $150,000. You’ve realized that because of how pricey the initial investment is, it will take you at least 5 years to make back your investment. You might not start making a profit for 6 or 7 years. And in this competitive industry, the likelihood of failing is quite high. If things don’t go well, you could lose over half a million dollars.

After evaluating this business opportunity, you’ve realized your restaurant would have to do very well, even to just break even and make back your investment.

Don’t jump into anything without running the numbers. Do your break even analysis. The restaurant industry is extremely competitive.

Is there a less expensive business opportunity in this industry? How can you start a business that would cost less, in this industry that you’re interested in? Why not sell a food-related product instead? If you were thinking of opening an Indian restaurant, you could sell a related product instead. Consider selling delicious Indian cooking sauces instead.

Do You Know How to Pitch to Investors?

There’s a high likelihood that your business opportunity will be too expensive for you to take on by yourself. That means you need investors. But do you know how to pitch to investors?

Knowing how to pitch to investors is one of the skills you need to have if you want to pursue a business opportunity.

The first thing you’ll need to do is prepare a sales pitch. This typically includes memorizing a speech and creating a compelling power-point presentation. However, before you prepare your pitch, understand that your pitch should focus on the benefits for the investors. What’s in it for them? Investors only want to provide you with funding and invest in your business idea, because they want a return on their investment. It’s your job to explain how and when they’ll get their return on investment.

Your pitch should preemptively answer the questions you know your investors will need answered before they’ll feel comfortable investing. After hearing your pitch, the investor should now have more trust in your and your business idea, less doubts about it, and feel more confident in their investment. doubts, fears, and questions about whether or not they can trust you.

Be sure to rehearse your pitch and practice it again and again, before your investor meeting.

Knowing and Understanding Your Niche Market

It’s always important to invest in what you know, so if you’re considering investing in a new business opportunity, do you know the market quite well? Do you understand the market needs for this particular niche, and do you understand the industry?

If you aren’t knowledgeable in this particular industry, or you aren’t passionate about it, the business opportunity might not be right for you.

What Skills Do You Need to Have in Order for the Business to be a Success?

In order for a business to succeed, you need certain skills. So, when evaluating a business opportunity or idea, you should also evaluate whether you possess these crucial skills, or whether you could acquire them. These skills include sales and closing skills, marketing skills, industry knowledge, and business acumen.

If you don’t possess some of these skills, can you take a course to learn them? Or, do you have a potential business partner who does possess these skills? These are important things to think about.

Evaluating whether or not you have the right skills needed for the business plan to work, is part of what’s called a “self-analysis”. Reviewing your skills (including sales skills, people skills, marketing skills and special skills that align with the business model) is an important step. Other things to consider while doing a self-analysis, is considering whether or not you’re willing to put in the amount of funds, time, and effort needed to increase the odds of success.

If You Lack the Required Knowledge or Skills, Invest in Yourself First

You might not be ready to pursue certain business opportunities if you lack the required knowledge or skills. Before you can safely pursue these business opportunities that seem over your head, you must invest in yourself by learning the things you need to know.

Investing in yourself could be deciding to learn the required skills by taking an online course, or reading a business-related book written by a business expert.

Gain Knowledge by Reading Books on Business to Set Yourself Up for Success

Great business people are always learning. Business-related books can help you gain more knowledge, and books can also help you learn the skills you need to reach your goals. After reading these books, you’ll feel more confident in your pursuit of business opportunities, and it’ll be much safer for you to pursue them.

The right books will help set you up for success. You should ensure that the book you buy was written by a successful business professional, who recently pursued business opportunities and succeeded.

Think of how much crucial business-related knowledge you can gain, simply from buying a book that costs $10 or $20?

I recently published a book called Unlock It: The Master Key to Wealth, Success, and Significance. You’ll learn a lot about business in this book. What you’ll learn includes how to grow your business to grow rich, how to think critically by focusing on what you don’t know, how to hire the right people for your business, and how to unlock your business’s highest potential in terms of success and wealth.

Order my book Unlock It: The Master Key to Wealth, Success, and Significance here. Start reading about business so that you can pursue only the best business opportunities that have the highest chance of success.

5 High Return Investments That Can Make A Fortune With Low Risk

March 15, 2020 by Dan Lok

Are you looking to make high return investments? And minimize your risks at the same time? How do you decide which one is best for you? Today I will help you clear the noise in the marketplace.

This is a burning question that I get asked every day.

What investments should I make?

I say…

It depends on what kind of investor you are.

You see…

It’s a matter of growth vs security. If you know how to properly manage your money like the rich, you may know this:

You know that you have to look for investments that provide a comfortable balance of high return and low risk. Low risk means that there is a reduced chance of losing your principal.

However, if you are looking to up your investment game…

You may want to know more about high return investments. And while making such investments you have to consider all the options available to you. Even the ones you may not have heard of before.

Today I am going to give you some options.

Ultimately, what you invest in depends on your:

Likes and dislikes
Understanding
Strengths and weaknesses
Investment amount

Always remember:

Rich people only invest in something they understand. Share on X

What makes sense for me may not make sense for you. So, do your due diligence before you consider any of the high return investments that I am giving you.

You need to have clarity as an investor.

Don’t buy into the whole “get rich quick” or “you’re going to miss out” mentality. Anyone who does that is a very amateur investor.

But first, I want to clear something…

High Return Investments Do Not Have To Be High Risk

You know that not all investments are equal. No matter what type of investor you are…

When you think of high-return investments, you think there have to be a lot of risks involved.

Well, that does not have to be.

You’ve probably heard the following…

“If there’s no risk – there’s no reward.”

“You gotta go big, or go home.”

“You just gotta ride the wave.”

Let me give you an example…

Look at what happened to Blackberry stock in 2008 and you’ll know exactly what I mean.

Thousands had their portfolios decimated as Blackberry plunged from $138 dollars all the way down to a measly $7.50.

Yet at the time, no one would have thought twice about their investments.

Talk about risk.

Let me clear some common myths about High-Return Investing:

You don’t need a lot of capital
Can be done from anywhere in the world
You don’t need to have a good credit record
You don’t need to borrow money
And you do not (and definitely shouldn’t) be taking on a lot of risks

With that said, let’s look at some high return investments that offer low risks:

1. Peer-to-Peer Lending

In P2P lending, borrowers and lenders connect on a platform. There are several P2P investment platforms available such as Lending Club and Prosper.

You directly connect with borrowers and fund loans to them. Banks do not get involved here.

Borrowers can make an application for loans anonymously. They prefer these platforms because they have to pay lower interest rates compared to banks.

You as an investor can get higher returns than what you can get with traditional investing.

And you can select from hundreds of different loans you want to invest in. Loans are graded from the high-rated to lower-rated.

The higher-rated loans pay lower interest rates.

You can decide on borrowers based on:

Minimum credit score
Minimum debt-to-income ratio
Loan term
Loan type

Once you lend money…

The borrower will make monthly payments (the principal and interest) to you.

This will be done within your investment account on the platform. Returns can be anywhere between 6%-36%.

You need to invest a minimum of $25 as individual loans. These platforms offer you to diversify your investment.

So let’s say…

You decide to invest $10k. That means you can fund 400 separate loans if you wish to.

This minimizes the impact of a default associated with any given loan.

Lending Club claims to have provided historical returns of 4.83% to 6.37%.

2. Dividend-Paying Stocks

You have two different ways to make money in the stock market.

One way is through appreciation – an increase in the stock price. For example, you buy stock for $100 and it goes up to $150. That’s appreciation.

Then there are dividend-paying stocks. This investment gives you the option to participate in capital gains. Dividend income and capital gains combined can be high return investments in the long-term.

What’s more…

A high dividend makes it easier for you to hold a stock through a declining market. Because you receive regular cash flow from the dividend.

Here…

You’re investing money in the stocks that pay you even if the stock doesn’t make any money.

So let’s say…

If you buy a stock for $10 a share and its value remains the same for the entire year…

You still get paid in the form of dividends when a company reaches a point where they are cash solvent.

For high return investments, look at stocks that have a history of increasing their dividend over time.

These are called Dividend Aristocrats. It’s an index of 57 S&P 500 companies that have raised their payouts annually for at least 25 years.

Here are 10 that offered a projected upside of at least 10% in 2020.

To reduce risk, you could go with companies that have never decreased their dividend in the last 60 years.

That is historically they have proved to do so. There’s no guarantee that they will not in the future.

3. Preferred Stocks

These are a special type of stock. Unlike common stocks, they are high return investments.

But, you don’t get any voting rights. So when it comes time for a company to vote on any form of corporate policy, preferred shareholders have no voice in the future of the company.

However, you have a higher claim on the company’s earnings and assets.

Hence, when a company declares a dividend, preferred stockholders get paid first i.e. before the common stockholders.

And if a company is liquidated and after the bondholders and creditors are paid…

Preferred stockholders are paid ahead of common stockholders.

In other words, these are high return investments with lower risk because there’s more assurance you’ll receive the dividends.

Think of it this way…

Preferred stocks are a cross between common stocks and bonds. Because preferred stocks have a more predictable dividend income. They have a certain dividend level.

If you buy a common stock you get returns (dividends) only after a declaration by the company board. They may even reduce or remove the dividends entirely.

On the other hand…

Let’s assume you have a preferred stock with a stated annual dividend of $10 per year.

You will receive the $10 per share dividend each year before the common stockholders can receive any returns. But you will get no more than the $10 dividend, even if the corporation’s net income increases multiple times.

4. Real Estate Investment Trusts (REIT)

Real estate is what we call a hard asset. It has the potential to perform well even when the financial markets are fluctuating.

Now you may not be ready or have the desire to take on the work of a landlord. But, you can still invest in real estate.

That’s where REITs come in. They give you the chance to invest in real estate without the hands-on work.

Sites like Fundrise allow you to collectively invest in real estate properties. It’s like crowdsourcing with real estate investing.

You can choose to invest in a single property or in various real estate developments.

What’s more…

Often you get better returns over the long-term. Think of REITs as mutual funds that invest in real estate.

You can even do it with a small investment (say $1,000).

Hence, REITs can be excellent high-return investments with low-risk.

Because they pay dividends and receive special tax treatment.

REITs tend to have more stable values than stocks. And like dividend-paying stocks, they add the potential for capital appreciation to regular dividend income.

They pay at least 90% of its revenue in dividends to its shareholders. Those dividends are tax-deductible, enabling the REIT to minimize or even eliminate income taxes.

Returns can be in excess of 10%. Therefore, making them a great source of regular income.

You can invest in REITs directly, or trade on major exchanges. Like exchange-traded funds (ETFs) which hold positions in several REITs at a time.

You can buy and sell positions when you decide it is appropriate for you.

5. Tax Lien Certificates

When you buy a Tax Lien Certificate, you are in effect paying someone else’s property taxes for them.

You see…

In several counties and municipalities in the United States, local governments have millions of dollars outstanding in overdue property taxes.

These overdue taxes are from property owners who will not or cannot pay their property taxes.

And to fund the daily services of police, fire, hospitals, schools, roads, etc., the local governments need this money.

When you pay these taxes, the government gives you the right to receive all of the outstanding tax money due. Along with the fees, high interest, and penalties.

In a sense, it’s like a mortgage.

These Tax Lien Certificates are secured by the real estate they’re attached to.

So you are not actually buying the real estate. You are just buying the government’s lien on the real estate.

Basically, to encourage taxpayers to pay their property taxes on time…

The government charges high-interest rates which are passed directly to you.

To pay you back, you receive government-guaranteed checks of 16%, 18%, up to 36% interest. And these are paid directly to you.

Think of it this way…

You are receiving a continual, high-rate income from the government.

You can buy Tax Lien Certificates secured by different properties. And in different locations in the same state, or in different states.

There are thousands of these available at different price points. It could be as low as $50 and as much as $1,000 or much more.

These certificates are so lucrative that I call them…

The Wealth Builders Of The 21st Century

As an investor, I don’t like leaving things to chance. I make an investment only when I know all the angles.

Among all the high return investments that offer low risk, I found Tax Lien Certificates to be one of the best.

Why?

Because Tax Lien Certificates offer benefits that I couldn’t find elsewhere.

What I especially love about Tax lien certificates:

They are very easy to buy.
They are recession-proof.
The law protects the money.
The high-interest returns you get are mandated by state law.
They don’t rise and fall like the stock market. You get returns regardless of market fluctuation.
They are hidden from the general public.

One thing I particularly love about these certificates…

It doesn’t matter if you have a lot of capital, to begin with.

It’s the most democratic of investments. Allowing any investor to become a high-return investor.

Once you know about these little known high return investments…

And learn to take advantage of them – you’ll wonder why no one else is doing the same.

You’ll wonder why anyone would even bother with the roller-coaster ride of forex trading or the stock market.

But, as I have advised you before…

Investigate Before You Invest

I have wanted to bring this information out to a new audience for quite some time. I decided it’s high time people got to know about these high return investments.

This way you would know about this little known investment which the institutions themselves use to make money.

Most importantly, I wanted to teach you how to use this investment to your maximum advantage.

Now, you may be wondering…

Why are these high return investments so little known?

You see…

The answer is quite simple: stockbrokers, financial planners, and bankers can’t make commissions on them.

And once you know the opportunities out there…

You’ll probably never want to invest your excess money in your bank again.

Most bankers take the money you give them and use these same strategies to reap the high yield returns.

And what do you get? A lousy 1% return.

So they’re basically using your money AND these strategies…

To make themselves a fortune. That’s why they pray these high return investments are not revealed to anyone.

But, these investments are nothing new. They are just not common knowledge.

They have been a proven investment strategy for years. These principles have existed for hundreds of years.

All wealthy people have been using these secrets for decades.

And we have decided to reveal it all in an event called the Secrets of the Rich, which occurred in February23-24, 2020. This was where we offered in-depth knowledge about these high return investments.

This way you can investigate this investment further. Have a “dry run” so to speak.

Uncovering The Secrets Of The Rich

Ask yourself…

What it would mean to you if you could make high return investments without the typical risks?

Certainly, it would give you a predictable and sustainable way to grow your net worth. And you will ultimately be able to build yourself the lifestyle you want.

There are high return investments with virtually no-risk (we’re going to teach you how) that will always help you be able to “look before you leap”.

With these investments, you’ll be able to strategically grow your net worth.

B2B VS B2C: Which Business Model Is Better?

February 18, 2020 by Dan Lok

When it comes to B2B vs B2C, which business model is better? Can you make more money selling your product or service to businesses, or to general consumers? If you are trying to decide which business model you should pursue, you might be wondering which one to choose: B2B vs B2C?

Which business model is more profitable and scalable? Where can you make more money and grow your business faster?

The short answer is that it depends. It depends on your background, your expertise, your knowledge, your specific set of skills, and what you’re offering the marketplace. It also depends on what you want for you and your business.

In general, for most people, it’s a little bit easier to start with B2C. Why? Because in your day-to-day life, you are a consumer, too. So, understanding what consumers want will come more naturally to you. Chances are, you face similar problems as other people do, and you understand what people need.

So, if you are just starting out, you might want to start in the B2C sector since it’s an easier place to start.

B2B, on the other hand, will be easier for you if you have plenty of experience working in a corporation. B2B is even easier if you’ve already built some relationships with other businesses.

For most people, I would say start with the B2C model. Then later, perhaps branch out into B2B.

If you possess the right skills, the B2B model can be incredibly profitable. Why? Because businesses usually have much more money to spend than the average consumer. Businesses have a much larger budget to pay premium prices.

You can make a lot of money in the B2C sector, too, but it requires you to first build a massive customer base. You need a lot of customers to make good money in the B2C sector. There is often more money in B2B, and with B2B, you don’t need as many customers to make good money, since you can charge higher prices.

As you’re now realizing, a lot of factors play into the decision when you’re deciding between B2B vs B2C for your business model. Below are some deeper insights into B2B vs B2C.

What Exactly Is The B2B Business Model?

B2B stands for business to business. That means your company is selling products or services to other companies. As you sell to other businesses, you have to understand one thing: The person buying from you doesn’t make the buying decision for themselves.

Rather, they are buying your product or service for their company. They are making the purchase on behalf of the whole organization, and their organization’s needs are being considered. Common B2B products are consulting services, customer relationship management systems, copywriting services, lead generation and many more. You see, a single customer probably wouldn’t need such products. But these types of products provide immense value for businesses.

What Exactly Is The B2C Business Model?

B2C stands for business to consumer. A consumer is a regular customer. So, you are selling to individuals. Your product would be designed and developed to solve the problems of everyday people.

In B2B, you could be selling anything from outerwear to toothbrushes to mattresses. Everybody needs those items, but there is also a lot of competition. That’s why B2C companies have to be creative in their marketing strategies, in an effort to stay on top of the market and ahead of their competition..

It Depends On Your Experience

If you start a business in a niche industry that you have personal experience in, chances are, you understand your customers very well.

As a B2C company, you could be selling a simple product on an e-commerce site. On your online store, you’re simply selling something that everybody uses. Starting such a business isn’t that expensive. It also doesn’t take a lot for you to advertise it on the internet. Advertise it through Facebook, Instagram, Google or other channels. You could even sell your product on Amazon. Just get in the game and make those first few sales. You might even consider going to Kickstarter and start a crowdfunding campaign. That way you can pre-sell your product before you even make it.

If you have a background in the corporate world a B2B business model might be for you. Let’s assume you worked in the human resource department, for example. You already gained some insights into that sector and chances are you built some relationships. Maybe now you want to branch out and start your own human resource agency. Then the B2B model might work for you. Why? Because you have some experience, you know some people and have been in the industry for some time.

B2B vs B2C: What Are The Similarities?

B2B and B2C businesses aren’t complete opposites. Actually, many businesses offer both B2B and B2C solutions.

Let me give you a perfect example. Let’s assume your company sells beverages. You could have a store where you sell beverages to individual customers. At the same time, you could also have contracts with businesses. Businesses would offer your drinks in their restaurants, cafeterias or in vending machines in their office buildings.

In such a case, you would have both a B2B and a B2C business strategy. More and more businesses are doing exactly that and do very well with both. It opens up an even bigger market for them.

B2B vs B2C: What Are The Key Differences?

Now, when it comes to B2B vs B2C there are some key differences that you should be aware of. What works perfectly in the B2C sector might not work at all in B2B. So, be very aware and make conscious choices about your business model. What are those key differences? Let’s have a look below:

Different Target Markets

The target market of B2B and B2C businesses are different. Generally speaking, the B2C market is a bit larger. Why is that? Yes, there are plenty of businesses out there that you could market to. However, you most likely have to specialize. You have to pick a certain niche and a certain vertical. Like the example I gave above – when you have relationships in human resources already, you could build up your business there. But here comes the important point: the product you offer might be extremely valuable for HR departments. But chances are, it wouldn’t work that well in other industries or other departments.

For B2B businesses, the market is often smaller and more specialized. But that also means you might be able to charge a higher price in the B2B sector. In fact, it’s estimated that the US B2B market is a 780 billion dollar market compared… Share on X

Still, there are also plenty of very pricey B2C products. Think about luxury stores such as Prada, Gucci, and Hérmes. These are B2C businesses, but still have a high price tag. So, price isn’t the only key difference between B2B and B2C companies.

Different Customer Needs

In general, the target market for B2B is a bit more sophisticated. They want to be educated on your product or service, and you need to build personal trust with them. Remember, they are making the purchase decision for the whole organization. They don’t want to look stupid and make sure their decision actually makes sense. So if you educate them on how your product helps them, you have bigger chances of making a sale. They will also want to see that investing in your product makes financial sense for them. It has to save them time, make workflows easier or give them any other return on their investments.

B2C customers, on the other hand, want to be entertained rather than educated. So, you would heavily focus on your brand image. B2C customers usually don’t think about return on investment. They want to have a good time and enjoy a purchase from a cool brand.

Some people argue that B2B clients make rational decisions, while B2C prospects buy out of emotion. I would be careful with such assumptions, as I believe all buying decisions are emotional. But we justify it with logic later. That’s why for B2B, relationship building is so important.

Different Sales Cycle

A great distinction from B2B vs B2C is the sales cycle of your product.

First, let’s define what a sales cycle is. The sales cycle is the whole process of selling a product. From the first contact with a customer until closing the sale. The exact steps look different for every business.

In a physical retail store, for example, the sales cycle could be simple. The customer goes in, chooses a product from a rack, and pays. That’s it.

For B2B businesses, the sales cycle is usually longer compared to B2C. Your customers need more touchpoints with you before they are ready to buy. In general, B2B also takes longer because several people have to approve the buying decision. They have accounting departments that have to approve the purchase, and it’s also often a team decision. It can take some time until the purchase is approved internally.

You have to provide your B2B customers with a very clear understanding of the value of your product or service. Once they buy from you, however, they will likely stick with you. So, the B2B business is a lot about customer retention. Ideally, you keep them as a returning customer for a lifetime.

In the B2C business model, the focus is more on customer acquisition. The market is bigger and you want to reach a higher volume of people. Especially if your product is something that people need to buy only once. You need to generate new customers constantly.

B2C customers depend less on other people when making a purchase. The influence of friends and family might be increasing, but they don’t have to go through a whole command chain before making any purchase.

So when you compare B2B vs B2C in general, the sales cycle of B2B clients takes longer but they will likely stay with you. B2C requires to find new clients frequently. That’s why many B2C companies offer subscription models.

Different Marketing Strategies

You will need different marketing strategies for B2B vs B2C. Depending on who you want to sell to, you’ll develop a different marketing campaign. As I briefly touched on, B2B clients usually want to be educated. So you have carter informational content towards them. You probably have to “nourish” them before they would buy. That means to build a relationship with them and showing them in which way you add value to their lives.

In the B2C market, education can also be important but the customers are also looking for entertainment. They maybe don’t want to build a close relationship with your brand – sometimes they just want to buy their necessities and be done with it. This will greatly depend on your product.

When Is B2B Probably Better For You?

The B2B business model might work very well for you if you’ve worked in the corporate world before. Maybe you already got some insights on how big companies make buying decisions. Maybe you even know some problems that companies face. Then you could create a product that solves exactly that problem.

B2B might also work well for you if you like planning for the long-term and enjoy going into detail. As the sales cycle is longer in B2B you have to plan for the purchase in a long term view. Usually, you also would research your potential prospects and really find out their pain points.

When is B2C Probably Better For You?

Starting out as a B2C business might be easier, as you yourself are a customer, too. So you could create and sell products that you yourself would enjoy. To stay in the business, however, you will need the ability to keep customers engaged with you. You need some form of creativity to attract customers. If the idea to attract masses interests you, then B2C might be more suitable for you.

B2C customers may buy from you once but don’t immediately come back for more. They could be drawn to your competitors too. So you have to figure out how you can stay interesting and have them come back for more.

B2B vs B2C? It’s all P2P

As you see, the answer if a B2B or B2C business model is better can’t be answered easily. So many factors determine success. If you do it right, both can be very lucrative.

But no matter if you have a B2B or B2C business model, at the end of the day it’s all P2P: Person to Person. You have to remember that your customers aren’t just numbers on a screen. They are real human beings. If you understand why people buy, and how people buy, you will be able to close them on any deal.

You might be wondering, does this really apply to B2B businesses too? The truth is, it does. Because even big businesses are run by people. So if you know how to find out the needs and pain points of a person you can much more effectively communicate how your product can help them. Selling has a lot to do with emotions and psychology.

So which to choose B2B or B2C?

In conclusion, the decision between B2B and B2C business models is not a matter of which is definitively better, but rather which aligns best with your background, expertise, and goals.

While B2C may offer an easier entry point due to its broad consumer appeal, B2B holds the potential for substantial profitability, particularly for those with corporate experience and industry insights.

Regardless of the model you choose, understanding the nuances of your target market, their needs, and the art of effective selling is paramount.

What to do after deciding B2B or B2C?

Start to craft offers that align with your target audience’s unique characteristics, motivations, and purchasing behaviors. Consider to create high-ticket offers for your business.

High-ticket offer typically commands a higher price point but offers significant benefits, exclusivity, and results that make it compelling and desirable to potential buyers. High-ticket offer is good for business because it attracts high-value clients, increases revenue per sale, and strengthens the brand’s positioning in the market.

If you’re seeking to learn how to create high-ticket offers for your business, download the FREE “High Ticket Offer Formula™”. This will equip you with the strategies on crafting irresistible high-ticket offers, whether you’re engaging with businesses or consumers. Unlock new opportunities for growth and success.

Develop A Powerful Personal Brand With These 3 Secrets

February 14, 2020 by Dan Lok Leave a Comment

To develop a powerful personal brand can be a daunting task, as many entrepreneurs and small business owners struggle with developing a brand for themselves. But branding is not only for companies, it defines who you are. Like everything else, your personal brand is unique.

What is a personal brand and why is it important?

A personal brand is a perception in someone’s mind. As I said earlier, when someone calls out your name, what would be their response? The truth is, you can determine what you want people to think and say about you.

Developing a brand is about taking control of your image, and that reflects who you are in many aspects. When someone calls out your name, it should give them an honest impression of your talents, values, and beliefs.

Developing a powerful personal brand is crucial for entrepreneurs and small business owners. In fact, it’s important for everyone. Because our personal brand will not only boost our business – it helps drive them to success.

For example, what makes you different? What are you known for? This means, what are your values? Are your values aligned with your mission and beliefs? And what kind of impression do you want to leave behind for the world?

You are your brand, no matter what your current job is. Share on X

Branding is like a mental game. It acts as a magnet that pulls the matching pair together. So, if you want to be a successful entrepreneur, you must develop a powerful personal brand.

If you don’t develop a powerful personal brand, it makes you no different than others in regards to your profession.

The more you present yourself to the world, the higher your brand gains its credibility and recognition. So how do you develop a powerful personal brand? In this article, I will share 3 of my secrets to develop a powerful personal brand.

1. Brand Around Your Talents, Values, And Beliefs.

People like to know the story around why you did it and what makes you do it. It can be because of a certain talent you have or a strong belief of a product that you’ve created. Either way, people are drawn into a combination of vulnerability and enthusiasm. Your beliefs are what drives your core values.

Everyone looks at your watch and it represents who you are, your values and your personal style. – Kobe Bryant

When I say value, it isn’t based upon your position at your company. Rather it’s based on what you can bring to the marketplace. What is the unique talent that you do exceptionally well that others can’t? When you establish your own target audience in your niche market. You’ll be able to develop a unique talent around your niche. So, why do you have to do this?

Because with your own target audience, it helps you narrow down your potential customers. Clients won’t just walk up to your doorstep. You need to put yourself out there and when you understand your audiences, it is easier to create value based on their problems.

But before you do that, ask yourself these questions. This is where you begin.

Am I perceived as I want to be?
How strong is my reputation in my industry?
What does my brand reflect most on my personality? My ability?
What makes me unique?
Does my website/blog reflect my brand?
Does my social media channel reflect my brand?

Asking yourself these questions is where you begin developing a powerful personal brand. Choose what you want to be known for and focus on being the best at it. If you’re looking to be a successful entrepreneur, being the best at what you do sets you apart from your competition.

2. Develop A Powerful Signature Style

As I said in the beginning, branding is like a mental game. It’s like a magnet that pulls a matching pair together. So, when you develop a powerful personal brand, you need to stand out. Because being average makes you similar to everyone else and this is where you take control in developing what people think and say about you.

When you think about a signature style, it can be varied. It can either make or break a personal brand. So, be careful when you decide on your style. If you can develop this well, it can be powerful and make you instantly recognizable. Think about your favorite brands. What makes them unique? This is crucial to know because your brand allows self-expression through your personality to the marketplace.

You can visualize your style with these guides. But remember to be consistent with your style.

Logos
Trademarks
Signs
Core visual elements
How you dress

Think of it this way, if you have a different color logo on your signs and your blog. People will find it hard to understand what you do. So, being consistent with your style is a surefire to success.

Apart from that, develop your unique dress code. As I said earlier, you are in control of what people think and say about you. You want people to remember you for the right reasons. My mentees associate me with my red suit and my Bentley. Steve Jobs always dressed exactly the same and Obama only wears either a blue or a gray suit.

My point here is, these may be their signature style. But when you call out their names, what is the first thing that comes to mind? Steve Jobs – Apple products. Dan Lok – Red suit and Bentley. On top of that, a powerful personal brand gives you an advantage in your professional and personal life.

3. Create An Impression With An Elevator Pitch

An elevator pitch allows you to earn someone’s conversation. It is never an opportunity to close a deal. However, it’s an opportunity to get people’s attention. It acts as a quick introduction and with a short, snappy explanation, it explains how you can help your customers.

So, where and when should you use your elevator pitch? You can leave an impression with an elevator pitch during a networking event, warm calls or conferences. You also use an elevator pitch with job interviews. Especially when someone asks you this question, “Tell me about yourself” or “What do you do?”

Instead of convincing someone to hire you, earn 30 seconds of conversation. Share on X

A compelling short stunning elevator pitch will uplift your value. Which means, people will instantly remember who you are. But never forget that when people who listen to your pitch, the first thing they think about is “Does that bring me value?” or “What’s in it for me?” Therefore, when you develop a powerful personal brand, it’s crucial to understand your audiences.

For example, at a networking event. Someone prompts an attention-grabbing question saying, “Isn’t it a daunting task to develop a personal brand for yourself?” And you answer, “ Yes, but you know what will make it less daunting? The founder of my company constantly creates educational content. They created a video training that cost less than a cup of coffee a day. And if you spend 30 days on coffee, you could discover the secrets to develop a powerful personal brand without feeling daunting.”

Or if someone asks, what do you do?. You can say, “I help companies scale their business by exponentially increasing their conversion rates.” While different types of questions have different impressions, it should also be memorable and punchy.

What Should You Be Doing To Maintain Your Personal Branding?

Now that you’ve developed a powerful personal brand. What should you be doing to maintain your brand? Yes, it’s time to gain visibility. This is where you’re letting your audience know you exist.

To gain visibility requires multiple processes. For example, creating a well-strategized plan across your social media platform. In order to establish a strong foundation, you need to be active in a couple of things.

Here’s how you can market your brand through different channels.

Client Referrals
Direct Mail
Networking
Joint ventures
Seminars
Public Relations
Warm Calling (if you have a product or service)
Internet (Social media platforms)

Don’t get overwhelmed by the number of platforms. To begin with, you can start with one. Decide which is your best channel according to your target audience. Now, let me give you an idea of what I do to promote and maintain my personal brand.

Here’s what I do to maintain my personal brand. And this is strictly on personal branding.

Give one interview per week. 52 interviews a year which includes TV, Radio, Podcast or print.
Conduct one interview per week with successful entrepreneurs.
Create and upload 200+ videos per year on YouTube.
Publish at least one new book per year.
Give away a minimum of 3,000 books a year.
Deliver at least 20 presentation or speeches a year.

Ensuring your brand is personalized, creates compelling and convincing content. Write valuable and educational content to your audience. You need to put value to the marketplace. Why? Because your brand and value is a self-expression through your personality. So, if you want to be a successful entrepreneur, position yourself by being the best at what you do.

Why Entrepreneurs Fail At Developing A Personal Brand

As I said in the beginning, many entrepreneurs struggle to develop a powerful personal brand. So, whether it’s personal or business life, it defines who you are. In order to be successful in any business, having a powerful brand is crucial because branding elevates your success exponentially.

Developing a powerful personal brand right is crucial for success. Share on X

Of course, it’s not an overnight success. You can’t get the world to know who you are in a day. But if you’re consistent, it’s a surefire to success. It takes time and effort to understand and learn how to develop a powerful personal brand effectively.

Here’s why entrepreneurs fail at developing a personal brand.

They Don’t Fully Believe In Themselves.

If you don’t believe in yourself, certainly, nobody will. If you want to develop a powerful personal brand, you must be clear and certain about who you are and what you can offer to the marketplace. Again, your value is on what you can bring to the marketplace. But keep this in mind, there’s a difference between confidence and arrogance. If you set yourself with confidence, you’ll overcome hurdles with grace.

No Strategy

Everything you do reflects on your brand. Therefore, having a good strategy is important in every area of business. If you want to stand out and be remembered. You need to put in the extra effort as it won’t magically appear for you. Think and plan out a couple of strategies before you execute. But don’t be afraid to fail. I failed in 13 businesses before i became a self-made millionaire.

How you do anything is how you do everything – Dan Lok

Unsure What Is Personal Branding

Don’t get confused between professional and personal branding, because they are very different. Personal brand is a perception in someone’s mind. It is how people perceive you would be. Remember the first question you ask yourself? Am I perceived as I want to be? Talking to people and asking for honest opinions is the best way to do this.

They’re Inconsistent With Their Content On Social Media

Have a narrow focus on your topics with your social media channels. When you’re consistent, it’s easier to recognize a voice. To ensure a powerful brand is achieved, you have to demonstrate consistency across your communication.

Never Leverage On Social Media Platforms

In 2018, an estimate of 1.8 billion people worldwide purchased goods online. And during the same year, global e-retail sales amounted to 2.8 trillion U.S. dollars. It’s projected to grow up to 4.8 trillion U.S. dollars by 2021. So, can you imagine the number of people purchasing a product through social media platforms? It’s significantly high. So, leveraging social media might be the key to your success.

Not Investing In Themselves To Learn

I’ve seen many entrepreneurs make plenty of excuses. Such as, I’m too old to expose myself in social media. I’m not young enough to learn new things anymore. Well, let me tell you this. If you want to develop a powerful personal brand, you need to have a shift in mindset. The process of gradually developing into the person you wish to be is crucial. When you get constructive criticism, you can use that to grow. Regardless of how long it takes, your brand will grow much more quickly.

If you want to grow your business, investing in yourself to learn new technology is essential. Unless you have the confidence to learn through my free 200+ video content. Engaging a mentor and gaining their secrets will bring you success quicker.

Want To Develop A Powerful Personal Brand?

Making a name for yourself can be tough and frustrating. As I said in the beginning, it can be a daunting task. It requires time, effort and consistency. When you see other leaders making a name for themselves, you wonder, how did they have it all figured out? When you want to develop a powerful personal brand, you have to understand the most important aspect, which is trust.

A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. – Seth Godin

Whether it’s for personal or business. If they aren’t any trust, you’re not likely to achieve a personal brand for yourself. That’s why I told my team to prepare a special training video that consists of my secrets. Discover the secrets of my personal branding here.

Back in my early days, when I was in high school, I was the invisible kid. No one wanted to talk to me and people didn’t think I could succeed in business. But now that I’m a business magnate, Internet celebrity and global educator with students and fans around the world, people want to know how I developed such a reputation.

In today’s world of technology, opportunities for growth are more than before. So, to develop a powerful personal brand, be sure to stay focused and the brand stays with you.

A personal brand is nothing more than your personal reputation. If you want to create a powerful reputation for yourself, create a compelling elevator pitch and develop the perception you want your audience to think and say about you. That drives your core values with the beliefs you have.

And, if you’re a serious influencer, entrepreneur, and expert earning over $300,000 in revenue and want to take your business to the next level, read below. If you are an influencer and entrepreneur who wants to:

Scale their business to 7-figures and beyond using social media.
Generate a predictable and sustainable return on investment every month.
Build a 7-figure business that runs with or without them.

High-Ticket Influencer is the answer.

5 Crucial Things To Look For Before You Invest In Startups

February 3, 2020 by Dan Lok

Are you looking to invest in startups but you aren’t sure what to look for? How do you determine if a startup is a good investment idea? How do you know it’s the right thing for you?

When you want to invest in startups there are plenty to choose from. Almost all startups need money. That’s why it looks like a promising investment sector too many.

It seems so easy, find a startup. Invest your money. Watch them grow and multiply your money. But, in reality, it isn’t quite that easy.

Not every startup will be the next Uber. Not every startup succeeds and grows rapidly. Often it’s hard to tell if their product and offer are any good.

That’s a problem because if you are investing in a startup you want to make sure it pays off. You want to get returns on your investment sooner or later. Investing in the wrong startup can be a risk.

And there are also other factors you have to consider before you put your money into anything. So before you go ahead and invests your money into a startup, check for these 5 crucial things first.

1. Is There A Hungry Market for Their Product?

Before you invest in startups you want to make sure there is an actual market for their product or service.

Let’s imagine you can choose between startups. One has an advantage in capital, on has the best product or service, another one has the best team. Or maybe they have the perfect timing or the latest technology. Which one would you choose?

If I would invest in a startup I would always choose one thing: A hungry market. I would choose that every. single. time. Share on X

Their product or service might change, but a hungry market will always buy from them.

So many startups fail because they focus so much on their product or service. But they completely forget about their customers. They focus more on their own needs than on the needs of the marketplace.

They put all this effort into building the perfect product…that nobody wants. Instead of their product, look at their offer. What is the irresistible offer that they bring to the marketplace?

An offer contains their product plus the value. If the perceived value is high enough people will want to by. You can imagine the offer almost like a bait. Like if you go fishing, you want to choose the right bait. So the fish would actually bite. Using a stone as a bait won’t do you any good. You have to understand what they want.

Why Is The Market So Important?

So many startups make one mistake. They offer what they think the market wants. Instead of finding out what the market actually wants.

You only want to invest in startups that actually have an irresistible offer of some kind. It should be more than a crazy idea in their mind.

Save yourself from investing in startups that spend years on things that nobody wants to buy. As sad as it is, that happens too often. 8 out of 10 businesses fail after 20 years. Half a million businesses are created every month. 30% of those go out of business within two years.

What to Look for in a Market?

You also want to check how big the market is before you invest in startups.

Is it a very local market only in the direct neighborhood? Or is the market the whole world?

Don’t get me wrong the market doesn’t have to be huge for them to be successful. But it has to be some good size so they can expand later. Simply put, is the market big enough so their offer is scalable? What are the chances of this offer getting bought now and also in the future?

And finally, when it comes to invest in startups, there is one more thing about the market. How saturated is it? Are they targeting an existing market with lots of competition? Or a completely new one?

What if their chosen market is very competitive? Do they have a defining factor that makes them different? How is their solution different from existing ones and is there a market that needs that? There is also the question of how powerful their competition is.

I once had a guy tell me he wants to start a coffee company and compete with Starbucks. How can a small startup compete with a huge chain?

Of course, the founders are very passionate about their ideas. But you have to stay cool and check if their business actually makes sense.

What to do if you invest in startups that market to a completely new market? You have to make very educated guesses if it is possible. Will the market be big enough? Is the crowd hungry for this?

2. Do They Have Some Money Already?

When you invest in startups, you don’t want them to fully rely on only your money.

If they can only start out because of your investment, that’s actually very dangerous. If they need your money so urgently, the founders aren’t entrepreneurs yet.

Making money from business takes time and effort. If they expect to find one single investor (you) and suddenly make all the money…they don’t understand what it means to have a business.

Building up a successful business needs time, effort and money. You don’t create a startup because you want to work less and hate your job. If you do that, your business will fail.

That’s why I advise all my students to take care of their cash flow needs first. First, they need a stable income. Only then they should even think about becoming an entrepreneur.

So, if you want to invest in startups what out. Pick those that have a great work ethic and are resourceful enough to generate money – before they are looking for investors.

There is nothing wrong with looking for investors, but it can’t be their income stream.

How resourceful are they?

Their resourcefulness to getting money shows you what they are willing to do in order to succeed. Do they tilt because an idea didn’t work? Or are they looking for solutions and create results?

Believe it or not, there are startup founders that only want to put their money in after the startup has reached in size. They don’t have any skin in the game. Rather, they try to build their business and get wealthy by a miracle.

They have this idea and think it will make them rich. But a business without money is just an idea…it’s not even a startup.

So don’t get swooned owner by fancy looking business plan and market analysis. Those are great things to have but if there is no starting capital, how will they succeed?

I’m very careful about such things. You don’t want them to run off with your money. You want to invest in startups that are resourceful enough to have some money already. Your investment might help them to get more scale.

Being resourceful also means they don’t lose hope after hearing no several times. They have the stamina to go on because they know there is a demand for their product or service.

3. Are Their Team Members Complementing Each Other?

The next crucial thing you want to look for before you invest in a startup is their team.

Before the investment, you will likely get in contact with the founders of the startup. You will discuss the strategy, business plan and other things.

But I highly advise you to also have a look at their team. Who else is working on the startup? What skills do they bring to the table? And, likely most important, how do the founders lead their team?

Are their skills working together? Do the founders mentor the teammates? Do they really have successful chemistry?

All these are pointers to look out for. The team is an important metric to measure the success of a startup.

But, you only want to look at this, after you’ve checked the market! Again, the best team in the world won’t help, if there is no hungry market for the product.

If they have the market and a great team, those are good signs to invest in startups.

Some startups have quite small teams because they are saving on costs this way. But they absolutely need people in all the key positions, so the whole business can actually run.

What Does a Great Team Look Like?

Their team has to be able to execute. Too many founders try to get everything done themselves and give no trust to their team. Instead of delegating they work tons of hours to get everything done.

When really, all their team members should be experts in their field and get the job done themselves. They should also have some operating systems in place already. That shows they are serious about this business. Do the founders have the vision while the team is taking big parts in executing that vision?

Another very important thing: don’t invest in startups that don’t have an expert on their niche on their team. Let’s say the startup is a lead generation agency. But nobody on the team ever worked with lead generation. All they do is guessing how it works…How likely will that team succeed?

A well-built team should have the skills that the founders lack. They are balancing each other’s strengths and weaknesses. You don’t want to invest in a startup where all team members have the same skills. It means they have huge weaknesses too.

4. Did They Create Results Already?

This is another great point to look into before you invest in startups. Did they already get in contact with their market somehow?

Are the customers already engaging in with the product? Maybe there were some test runs and the testers are giving feedback. Or maybe the founders did a survey of what customers expect a certain product to do.

Looking at this shows you how serious the founders are. Do they just have ideas or are they willing to execute? Are they still working on the basic concept or are they already developing tangible results?

Are they committed to making this happen and work out for them? Or is it just an idea and if it doesn’t work they jump onto the next idea?

If you get in contact with them and they want to win you over as an investor,

watch out if they can present any real data. Does the data support their idea? These early calculations are a great proof of concept.

So what does a promising startup look like? They have a hungry market and some data collected already. If they have the data but the market is non-existent or too small you don’t want to put your money there.

When it comes to data, also make sure that their measuring is actually realistic. Some startups run into the trap of measuring too much. Or the use numbers too early. While data is important, it’s not the only factor that determines their success (and as a result the success of your investment).

How do Others React to their Idea?

A great way to see if the startup’s offer creates the desired results is this:

Show it to strangers on the street and see their reaction.

If they say “ok, yeah that’s good” then the idea actually isn’t good! You want them to go “wow this is great, where do I buy.”

If the offer can’t win over people, it won’t stand a chance in the marketplace.

4. Are You Actually Ready?

The final thing you want to consider before you invest in startups is a little bit different.

It’s less about the startup, the founders, the product or even the market…

It is about you. Are you actually ready to invest in startups?

To invest in startups might sound like a good idea but it’s only one investment type of many, many more. So, ask yourself why you want to invest in startups. Share on X

Are you actually passionate about startups? Are you an expert on the field? Or did you just hear about other people who successfully invested in startups? Are you looking for a quick way to get rich?

The problem with that is that, if you suddenly jump into investments without knowing anything about it, you are taking huge risks.

You risk making a mistake and losing all your hard-earned money. I’m not saying investments are a bad thing…I’m saying investment without knowledge is not a very smart thing to do.

See, wealthy people, invest in what they understand. And they have their ways of checking and evaluating if an investment is a good idea.

If you don’t know how to successfully invest in startups – and only do it because it worked for others – reading a few blog posts about it won’t help you much. So what should you do?

How To Prepare Yourself for Any Investment

Before you invest in startups – or do any other investment really – you want to do a few things.

First, you can’t invest if your daily cash flow needs aren’t met. Meaning, if you don’t have enough money to pay your bills, you aren’t in a position to go out there and start investing. Raise your income first (have a look hat I teach about high-income skills).

Now you want to be in a position where you can invest at least a few hundred bucks. And lastly, really understand which investment type suits for you. What do you really like? Is it really startups? Or stocks, or real estate?

I personally love two types of investments. Investing in myself and real estate. Why? Because I understand it. I would never advise anyone to invest in something they don’t understand.

What if I told you there is a chance to learn the investment strategies of the rich?

My fans and students kept asking me about investments. When to do it, how to do it right and so on. Exactly for that reason, I’m offering a once in a lifetime event. What is it about? It’s called “Secrets Of The Rich” and it will take place from February 23rd to 24th.

The rich have these crazy strategies that give them stable returns – sometimes up to 24%. Those investments are low-risk and high-return. But you can’t find it in any book and it’s not taught at seminars. At least until now.

The event is really a once in a lifetime chance. It’s unlikely that it will ever be repeated. If you want to educate yourself on investing as the rich do, this is your chance.

Unfortunately, the event is now sold out. But I have a special offer for you. You can get lifestream access that comes with a full recording too. This way you can learn the investment strategies of the rich, even if you missed out on the seats.

Check out the details HERE.

Strategic Thinking

Building A Global Virtual Organization Starts With The Leader

A Great Business Leader Leads From The Front

How To Build A Global Virtual Organization Using ‘A Players’

Develop A Good Workplace Culture

The Benefits of A Global Virtual Organization

A Global Virtual Organization Can Adapt To Change Quickly

A Global Virtual Organization Is Resilient

Discover How Super Successful Companies Run Their Organizations

Evaluate Business Opportunities By Asking The Right Questions

Critical Thinking Skills are Necessary to Evaluate Business Opportunities

Conduct Market Research

A Detailed Business Plan is Required

Ask a Professional Business Consultant for Advice

Get Opinions from Industry Experts

Think Outside the Box

Financial Assessment: Is There a Less Expensive Opportunity to Consider Instead?

Do You Know How to Pitch to Investors?

Knowing and Understanding Your Niche Market

What Skills Do You Need to Have in Order for the Business to be a Success?

If You Lack the Required Knowledge or Skills, Invest in Yourself First

Gain Knowledge by Reading Books on Business to Set Yourself Up for Success

High Return Investments Do Not Have To Be High Risk

1. Peer-to-Peer Lending

2. Dividend-Paying Stocks

3. Preferred Stocks

4. Real Estate Investment Trusts (REIT)

5. Tax Lien Certificates

The Wealth Builders Of The 21st Century

Investigate Before You Invest

Uncovering The Secrets Of The Rich

What Exactly Is The B2B Business Model?

What Exactly Is The B2C Business Model?

It Depends On Your Experience

B2B vs B2C: What Are The Similarities?

B2B vs B2C: What Are The Key Differences?

Different Target Markets

Different Customer Needs

Different Sales Cycle

Different Marketing Strategies

When Is B2B Probably Better For You?

When is B2C Probably Better For You?

B2B vs B2C? It’s all P2P

So which to choose B2B or B2C?

What to do after deciding B2B or B2C?

1. Brand Around Your Talents, Values, And Beliefs.

2. Develop A Powerful Signature Style

3. Create An Impression With An Elevator Pitch

What Should You Be Doing To Maintain Your Personal Branding?

Why Entrepreneurs Fail At Developing A Personal Brand

They Don’t Fully Believe In Themselves.

No Strategy

Unsure What Is Personal Branding

They’re Inconsistent With Their Content On Social Media

Never Leverage On Social Media Platforms

Not Investing In Themselves To Learn

Want To Develop A Powerful Personal Brand?

1. Is There A Hungry Market for Their Product?

Why Is The Market So Important?

What to Look for in a Market?

2. Do They Have Some Money Already?

How resourceful are they?

3. Are Their Team Members Complementing Each Other?

What Does a Great Team Look Like?

4. Did They Create Results Already?

How do Others React to their Idea?

4. Are You Actually Ready?

How To Prepare Yourself for Any Investment

What if I told you there is a chance to learn the investment strategies of the rich?

I hope you enjoy reading this blog post.