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Wealth Building & Investing

7 Secrets For Success

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If you want to achieve success this year instead of chasing it…

Reading this newsletter could be the most intelligent thing you do all year.

You may already know, there’s no ONE THING that will bring you success.

Instead, there are many ingredients that create the success formula.

Get enough of them right, and you’d be surprised with what you can achieve this year alone.

So without further ado, let’s begin with what I believe is one of the most important things you must possess to be successful.

1. Growth Mindset

There are two types of mindsets you could adopt.

One will help catapult your success, the other is a fixed mindset.

Carol Dweck explains both in her book entitled “Mindset”…

But if you’d like to know the difference between the two in just 2 minutes, then click here to watch this video >>

So, after watching the video above, what mindset do you think you have?

There’s no right or wrong here, but if you found you resonated with the fixed mindset more, what do you think you could do to adopt a growth mindset?

Speaking of mindset, here’s another very important ingredient.

2. Positive Attitude

It always pays to look on the brightside and have a positive outlook about your goals…

But here’s a big caveat.

There’s a fine line between positivity and delusion.

You don’t want to be so positive and ignore signs that things need changing or fixing if things aren’t working out.

I always say “Expect the best, but prepare for the worst.”


And I explain more in this video >>


No amount of positive thinking will bring you success if you’re not taking the right actions or course correcting where needed.

It’s normal to fall into negative thinking patterns from time to time, so if you’d like a hand from Tony Robbins to shift negative thoughts, check this video out >>

Now onto the one ingredient most get completely wrong.

3. Hard Work and Dedication

This is a given, but unlike some of the gurus out there, I don’t believe in hustling and working your face off.

I did that for 5 years and all I got was burnt out.

I believe in leverage and working smart.

Leverage could be working as a closer for an already successful business rather than putting in all the time and effort to build a business.

There’s a time and a place for that, but if your main goal is to be financially secure and enjoy your life, starting with a high income skill is my best advice.

I shot a YouTube shorts video for you where I discuss leverage and give you a few examples of how to use it >>

4. Planning and Execution

How many people do you know that had a “great business idea”.

Ideas are a dime a dozen.

What’s more important than a great idea is executing that idea successfully.

This is easier said than done, as during execution, you’ll encounter inevitable roadblocks, obstacles, and problems.

So if your plan is to replace your income with a high income skill, you must think about all the things you’ll need to make that happen.

From the type of skill, to the amount of money you need to replace your income, to the kind of business to partner with.

Watch this video here for how to execute a plan successfully >>

And that’s why you must be…

5. Flexible and Adaptable

Yes, you must have a solid plan, but you must also prepare to deviate from your plan if needed.

Recognize when something isn’t working, and seek out new insights and take action on them.

Things will almost always never go according to plan 100% of the time, and a growth mindset is KEY to being flexible and adaptable.

6. Taking Calculated Risks

When I was younger I did something very risky.

If you know my story, you’ll know I quit the only job I ever had to get started in business.

I had no business skills, and no idea what I was going to do, but I hated my job so much I felt like it was the only option.

Not only was this risky, it was also very stupid, and I don’t suggest you follow my lead.

But what I do suggest is taking calculated risks, and here’s what I mean.

Let’s pretend you start developing a high income skill while you’re still working your normal job.

And after a while you’re making money and you’ve even managed to match your current income.

Taking a calculated risk would be leaving your job with your new skillset and planning to increase your income further.

You’ve already got proof of concept, as you’re making money, and leaving your job is still risky, but it’s calculated and your likelihood of success is far higher than it would be if you just left your job with no plan.

Lastly, and this is a HUGE one.

7. Good Communication and Interpersonal Skills

Every successful person I know has excellent communication and interpersonal skills.

Great copywriters have excellent written communication skills.

Great over the phone and stage closers have excellent verbal communication skills.

Successful managers and CEOs have excellent interpersonal skills, and if you want to achieve the success you deserve, you must also work on these skills.

The good news is no matter where your skills are now, they can be improved upon.

As a function of developing closing or copywriting skills, you’ll work on communication skills by default.

But if you’d like an overview of what interpersonal skills are and how to improve them, then click here >>

In closing

This may seem like a lot of things, but you don’t have to work on them one by one.

As you’re on my email list there’s a good chance, you’ve already begun working on some of these things, and this newsletter has just made things clearer for you.

Don’t forget, dedication is difficult without passion, and success is impossible without dedication.

You must be passionate about your goals and the skills that will get you to your destination.

Pick one thing you’d like to work on first and then bring on another when you’re comfortable.

Wishing you a successful 2023,

Dan Lok 

P.S. – Think you have potential to become the next copywriting superstar?

Click here to get the ball rolling on developing your copywriting chops >>

If you love dealing with people and enjoy speaking on the phone, then click here to begin your journey of becoming the best closer you can be >>

Why Great Biz Ideas Fail

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Over the last few weeks, we’ve talked a lot about mindset, secrets to success, and high income skills etc…

But if you’re interested in starting a business, reading this newsletter could be the most intelligent decision you make this year.

Because, I believe not everyone has what it takes to make it in business…

So, I’m going to help you make that decision today.

And if by the end of this newsletter you decide business isn’t for you, that’s OK.

You can still become financially successful as I’ve mentioned in previous newsletters.

So let’s begin.

How To Know When You’re Ready To Start A Business  

As you may know, I failed at 13 businesses before my first success.

When I think back on why I failed so many times, it was because I clearly wasn’t ready, but more importantly…

I didn’t have these 5 things in place before starting:

  1. A clear profit path
  2. Proper and focused business model
  3. An edge over my competition
  4. Enough capital
  5. Being okay with not making money for a certain period of time

If you’d like a deeper dive into why these are important, then click here >>

A lot of people get into business without knowing what they’re getting themselves into.

Just because they see people on Instagram with abundant lives and successful businesses, they think they can do it too.

But that’s not the case.

I shot a follow-up video to the one above with another 5 things you must consider before you start a business, and I advise you watch it if you’re serious about entrepreneurship.

In this video, you’ll also discover the most important skill in business >> 

How Much Money Do You Need To Start A Business 

A lot of new entrepreneurs believe they need millions of dollars to start a business.

In some cases, that may be true, but oftentimes they haven’t done their due diligence or enough research to figure out exactly how much they need.

In fact, usually they need far less than $1 million to get things started.

In this video, you’ll discover how much you need to start a business and also how to know with certainty whether your idea is good or bad >>

How to Start a Business With No Money

I always say, if you don’t have any money, you shouldn’t start a business.

Now are there entrepreneurs out there who start with no money?

Sure, but you don’t hear much of them once they fail, and the ones that do succeed have specific business skills which make their business work.

“But Dan, what about a business loan?”

If you want to know whether you should take out a loan to start a business, then watch this video >>

Why Start A Business When You Can Buy One?

If you caught one of my past newsletters you may have seen the 3 ways my close friend Brian Scudamore (CEO of 1800-GOTJUNK?) said you could get started in business.

2 of those are starting from scratch or buying into an already successful business or franchise model.

So with a failure rate of 95%, doesn’t it make more sense to buy an already successful business and skip the launch phase etc?

It really depends on your goals.

If your goal is to own a successful business in a niche that interests you, then you could absolutely do that if you find the right investment.

But if you want to build something that isn’t already out there, then you have no choice but to build from the ground up.

For further insight into this concept, click here >>

How To Buy A Business With No Money Down

Although I don’t advise you to start a business with no money, buying a business with no money is different.

Why?

Because there’s an old saying in the business world…

“You don’t need money, you need a better strategy.”

If you can strategize a way to buy a business with none of your own money, then you’re already streets ahead of most business owners.

And I’m not just talking about getting a loan, because as you’ve seen, I think that’s a bad idea.

So if you want to know how to buy a business using other peoples’ money, then click here >> 

Why Great Ideas Fail

How many great ideas have you had in your life?

They don’t have to be business ideas, just great ideas in general.

Now, did those great ideas work out how you wanted them or did they hit roadblocks along the way?

My guess is if you didn’t execute it properly, it wouldn’t have worked out.

The same applies to business.

Almost every entrepreneur thinks they have a “great” idea, and they may have.

But if they don’t execute their idea, then their business is destined to fail.

Here’s a quick example I gave at a live business event >>

I hope this newsletter has helped you decide whether business is the right path for you.

Feel free to watch any of the videos in this business building playlist to gain clarity where needed.

Don’t forget, skills are the key to a successful business…

And if you have the right skills, you can be wildly successful even without starting a business.

If you’d like to upgrade your business skills, click here to check out my products at the Dan Lok shop >>

I’m certain you’ll find something there that will help you get to the next level.

Until next time,

Dan Lok

P.S. – It’s important you stick with your high income skill and make at least $10K per month for one year before you start a business.

Because if your skills aren’t good enough to make you $10K per month, there’s no way you’ll make business work.

I tried skipping steps and it caused me to fail at 13 businesses and get $150K of debt. That was until I developed my first high income skill.

So, if you’re committed, I believe you can do it.

Don’t Believe 6 Figures Can Happen For You?

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Quick question…

Do you want to make 6 figures?

If so, then read this email very carefully, because I’m going to break down how to make it not just possible, but probable.

First things first, there’s a lot that goes into hitting your first $10K month…

No matter whether you’re working a job or you have a skill-based business like copywriting or closing.

Why You Must Believe 6 Figures Is Possible

You must first BELIEVE it is possible to make 6 figures in one year.

You must also believe it is possible for YOU.

Seeing others make 6 figures is one thing but if you don’t believe you can, then you never will.

You may have heard me say this before, “You’ll never make $100K with $50K per year habits”...

And it’s very true.

Because if you want to make 6 figures, you’re going to have to cut out all the things that don’t serve you.

TV, video games, partying, and anything else that eats your time but offers little return.

It’s possible you can do those things again after you see some success, but the question is ‘will you still want to?’

You should start viewing yourself as the CEO of your own business, and your business is your life.

Everything in your life should be worked on to be optimized, including your health and relationships, but today, we’ll talk optimizing your wealth.

How To Simplify Your Income Goals

I know $100K+ can seem like a lot of money.

Another part of making 6 figures is believing that it’s easy.

I like to break it down into a daily income goal, which I explain in under 2 minutes here >

If you’re working a job and there’s just no way you could ever get to $10K in that position, then the best option for you is to start a side hustle with a high income skill.

That way you can make money in your free time.

If you want to know what side hustles you could start to make up to $200 per hour, then click here >>

If you’ve been following me for a while, you’ll know I believe a high income skill is the best way to make your first 6 figures.

Different Ways You Can Use Your Skills To Make 6 Figures

Depending on your skillset, you’ll need to structure your deals and pricing in a certain way.

If you’re a closer, you’ll likely make 10% per sale, so you’ll want to partner with clients who have high ticket products or services.

If your client’s package is $5K, and you make $500 per sale, you’ll need to close 5 sales per week to make $10K per month.

In this video, I break down some other ways you can use your skill to make 6 figures >>

If your skill is Copywriting, then there are 3 key things you must do to increase your earning potential and hit 6 figures.

The first two are obvious, but you’d be surprised at how many copywriters either overlook them, or ignore them completely.

The third one is less obvious and VERY counter-intuitive.

If you want to know the 3 things you must do to increase your copywriting income, then click here >>

What To Do If You Feel Like You’re Running Out Of Time

Now, you may feel as though you’re getting older faster, and time is of the essence.

If so, how do you master a skill fast?

If that sounds like you, then click here for the fastest way to master a skill >>

The good thing is you don’t need to master a skill to make 6 figures.

In fact, if you mastered any skill, you’d be making far more than 6 figures with it.

All you need to do is get good enough to make 6 figures.

But What If You’re Younger And Feel Lost In Life, What Do You Do Then?

In my opinion, narrow down a number of things you’d like to try and try each one until you find something you love.

If you’d like to know what one of my successful mentees Stephen did when he was in his early twenties and lost, then click here >>

A Final Piece Of Advice Most Never Think of When Striving For 6 Figures

When I was younger people would ask me all the time to do odd jobs for them.

I told them “I’ll pay for someone to come and help you, but I won’t do it.”

My goals were too important, I had to be working, and the same goes for you.

Let’s say you’re mowing the lawn to save money, and it costs you $25 per hour to hire someone, but your hourly rate is $50. 

You’re not saving $25 per hour, you’re losing $25 per hour.

Because in the time you spent saving $25 you could have made $50.

Just some food for thought.

Now, you’re armed with the right strategies to make 6 figures a reality, I wish you all the best and hope you achieve your goals.

To your success

Dan Lok

P.S. – If you’re yet to get started with a high income skill and you’d to use the written word to hit your goals, then click here >>

If you’d like to use your phone to hit your goals and connect with prospects all over the world, then click here >>

Counter-Intuitive Beginner Investing Tips..

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I used to get a lot of questions about investing…

Where to invest…

How to invest…

How much to invest…

So, today I thought I’d compile some of my best info and strategies on investing for you.

Ready?

How To Invest Your First $1,000

If you’re like most people, you’re probably thinking you could invest in crypto, stocks, real estate, index funds, or perhaps many other things.

But if you’re looking for consistent returns on your money, what return could you realistically expect from those investments?

5%, 10%, maybe a little more?

Of course, I’m not talking about when stocks or crypto go crazy and you can 10-100x your money.

That’s high risk and you could just as easily lose all your money.

I’m talking about growing your money over time with certainty.

So, I shot you a quick video on how to invest your first $1K, and I’m almost certain you’ll be shocked at my recommendation >>

How To Retire With At Least $1 Million 

Over your lifetime you’ll easily earn at least $1 million dollars.

But when it comes to having $1 million in a retirement fund (which by the time you retire won’t be worth much, if inflation keeps going the way it’s going)…

People seem to think it’s unattainable.

But if you really think about it, you could easily retire with at least one million dollars, using just one investment strategy.

In this video, you’ll discover how to have a 1 million dollar retirement fund with a set and forget system >>

My 5 Top Investing Tips

As you may know, I strongly believe in my Wealth Triangle Principle.

If you’re unfamiliar with it, I’ve included the diagram below.

Wealth-triangle

The Wealth Triangle states that in order to become a financial success, you should start with a high-income skill before you start a scalable business.

Ultimately, you’ll invest in high-return investments with the excess cash flow your business generates.

But it may surprise you to know that you don’t need a scalable business to become financially successful.

Business isn’t for everyone, as not everyone has what it takes to become a successful entrepreneur.

I may not win any fans with that statement but it’s true.

So, in this video, you’ll discover how one of my friends built a real estate portfolio of around $20 million without a scalable business >>

How To Invest In At Any Age Until You Retire

If you’ve watched some of the previous videos I linked above you’ll know that I believe the first investments you should make are in yourself, your skills, and your knowledge.

But if you want to invest your money elsewhere, it pays to keep it simple and invest in what I call the big 3.

Business, stocks, and real estate.

If you look at the most successful investors, they largely have very similar investment portfolios.

Now, I believe that everyone should have 3 types of financial plans…

And I discuss these in detail in this video >>

These plans give you a multi-pronged attack to create wealth and build a solid retirement fund.

How The Rich Invest Their Money

Although there are many “Bitcoin” millionaires out there…

If you look at the majority of people who’ve invested their money, you’ll see Bitcoin millionaires make up a small percentage.

As Warren Buffet says “If you don’t understand it, don’t do it.”

If you want to invest like the rich, that is one piece of advice you shouldn’t ignore.

Investing is like any skill.

It takes time to get good, and you will improve over time.

Sure, you’ll make mistakes here and there, but if you’re smart you can minimize your errors and remove any emotion from your decisions.

Over the years I’ve developed my investing skills and become very successful at it.

So if you want to know how I view investing and get an insight into 3 ways the rich invest, then click here to watch this short 6-minute video >>

7 Timeless Investing Principles

If you’ve been tracking with me through this whole newsletter I commend you.

Most people won’t even set aside a small amount of time to better their financial situation or their life.

If you’re a bit short on time, I’ve put together a small compilation of some of the best tips and strategies in the links above into one video.

It’s just 8 minutes long and one of the most powerful strategies inside will teach you exactly how you should divide your money up each month.

This ensures you have money for necessities, emergencies, investing, education, and of course FUN!

So, click here to watch this video if you’d like a quick summary of some of my best investment and financial tips >>

I hope you’ve enjoyed this edition of High-Income Skills weekly.

Remember, you have everything you need to create a wildly successful life for yourself.

To your success,

Dan Lok

P.S. – If you’ve decided investing in yourself is the best option for you right now, then click here to check out the Dan Lok Shop >>

We have a wide range of digital programs that will help you take your income to the next level.

From, closing, to copywriting, to confidence, to marketing, public speaking, and much more, I’m certain you’ll find something there to propel you forward.

Want Multiple Income Streams In Your Biz? (Read This)

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One of the most powerful things you can do for your business is install multiple income streams…

So, in order to help you do just that, in this week’s edition of High Ticket Weekly…

You’ll get 7 income streams you can add to your business, and if you read until the end…

I’ll show you a way to make money EVEN when people don’t buy from you.

Now let me stress something VERY important before we go any further.

DO NOT ATTEMPT TO DO ALL THESE AT THE SAME TIME.

That’s a sure way to develop shiny object syndrome and you’ll achieve very little.

So, do these one at a time.

Once you have one stream generating a solid and consistent income each month, you can move on to a new one.

Let’s dive in.

Books 

These could be physical books, kindle, ebooks, and even audiobooks.

Now, unless you’re selling hundreds of thousands of copies, it’s unlikely you’ll make a huge amount of money with books.

But one thing you can use books for is to position yourself as an authority in your marketplace, niche, or industry.

Books can open up a world of opportunities that may not exist without them.

When I was starting out as a copywriter I had a client hire me just because I had written a book.

If you’ve never written a book before, and you want to know how, then check out this 5-minute video I recorded for you >>

Digital Courses

Digital courses have completely changed my life and business.

I’ve sold tens of millions in digital courses in my career.

In fact, my High Ticket Closer Certification sold over $10 million alone.

Digital courses are a great way for you to showcase your expertise, and get it into the hands of people all over the world.

They’re easily scalable, and you can also use them as a down-sell for people 

who can’t afford your high ticket coaching or consulting.

Here’s a great video by a 7 figure course creator on how to create an online course that SELLS >>

Membership sites

Here’s another way you can sell your digital courses and expertise.

If you have multiple courses or one big course, you could charge a monthly or annual fee for access to your content.

You can give them all the content at once, or drip-feed it over time.

They’re a great way to build recurring revenue and are one of my favorite income streams for this reason.

Here’s a value-packed video on how to create a successful membership site that generates passive income for you every month >>

Events

Events are something we’ve been doing a lot of recently.

We run the S.M.A.R.T. Challenge™ a few times each year which is a completely virtual event.

We’ve been running live in-person events at the Vancouver Club, as well as hybrid (in-person and virtual events), such as High Ticket Mastery™.

Events are a great way to connect with your audience, and get a revenue boost…

But you can also use events as an opportunity to upsell your audience to your high ticket coaching.

So they can be VERY lucrative if done right.

If you want tips on how to plan and run a successful event, then click here to watch this quick 7-minute video >> 

Coaching/Consulting

This income stream is your bread and butter, but if you’re only doing one-on-one coaching at the moment, you may like to consider adding group coaching to your offerings.

Coaching sessions can be in-person or even online, as I’m sure you’re aware.

But here’s another coaching/consulting income stream that may surprise you.

VIP Days

This has the potential to be a HUGE payday for you if you set it up properly.

Businesses routinely pay me $70K for a day of my time.

During a VIP day, you would be consulting or coaching for the entire day, helping businesses solve problems to generate more revenue or coaching their staff, etc.

Here’s a 6-minute video on how you can make BIG money with VIP days >>

Speaking

Speaking is the highest-paid skill in the world.

Now obviously, you could speak at your own events, but you could also speak at other people’s events, businesses, and engagements.

Your options are charging an upfront fee, or if the opportunity exists, you can speak for free and sell from the stage and make money selling your programs or services.

If you want to know how to make BIG money as a speaker, then watch this quick 7-minute video here >>

If you’ve read this far, then congratulations.

As promised, here’s a way you can make money when people don’t buy from you.

It’s called affiliate marketing.

When I was younger I had very successful affiliate marketing businesses, and I still do affiliate marketing to this day.

So why is affiliate marketing so powerful and worthwhile?

Mostly because all you have to do is direct traffic to the offer, while the company takes care of fulfillment and customer service.

It typically takes a while to build up a solid affiliate income, but once you’ve got it to a certain level, it continues to grow and it’s money that comes in each month on autopilot.

I’m not going to link a video for affiliate marketing, because I don’t want you to become an affiliate marketer as such.

Instead, if any products you use and believe in have an affiliate program, you can begin promoting them.

So there you have it.

8 streams of income you can install over time into your business.

Don’t forget, only work on one at a time or you end up shooting yourself in the foot.

See you next time,

Dan Lok

P.S. – As I mentioned earlier, online courses are one of my favorite income streams.

This is why I’d like to invite you to a private masterclass where I show you how to get paid for who you are and what you know >>

It’s the fastest way I know of to turn your knowledge into a solid stream of recurring income.

Click the link above to get started.

High Ticket Ascension: A Guide for Beginners

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Entrepreneurs and business owners are always looking for strategies to scale their businesses and increase their sales. There are plenty of ideas that work, but not all will be effective. Knowing the right business model is what can take your business over the edge.

High Ticket Ascension is a strategy that you can put into effect that can increase your profits. The ascension pyramid has to do with the customer journey and follows the 80/20 principle. This principle states that 80% of your profits should come from about 20% of your business customers.

This may sound too good to be true, but by following the Ascension Model, you can achieve this. Plenty of industries, businesses, and entrepreneurs follow this model. Here is a guide for business owners, coaches, and consultants to understand High Ticket Ascension and implement it in their own businesses.

First, What is The Ascension Model

Let’s cover the basics: what is high ticket ascension? This is a business model that’s meant to take your clients through a growth journey. In this method, as a business owner, you offer multiple products on five different tiers that should take your customers and clients to the next step of their journey.

The trick is to create products that don’t compete with each other but rather build on the previous tier. It should feel like a step forward in which clients are able to gain more knowledge or experience.

One of the ascension model benefits is that you can work with clients and customers throughout the journey, from when they start at the base of the pyramid to if and when they reach the top. You’re able to find new clients while also maintaining previous client relationships.

Who Can Use This Method?

Any business can use a client ascension method, but it’s a great way to stay competitive in the market. It’s ideal for businesses like coaching or B2B services, or are hobby related, or promote an enhanced self like weight loss.

The Five Tiers

Your ascension pyramid should have five tiers that increase in offerings as well as price. The five tiers, from bottom to top, are entry-level service, basic-tier service, middle-tier service, high-tier service, and top-tier service.

As clients choose to move up the pyramid, they pay more in price but also get a more luxurious or personalized product. Gradually, customers will filter up, paying for the higher tiers, but you’ll also have new customers entering at the lower tiers.

Have a signature program and higher tiers that build off that initial program. In this method, you can offer more in-depth programs at a higher price, such as one on one or small group coaching that can help customers solve issues they may be facing from the initial program, like weight loss or sales conversion.

High Ticket Ascension Can Increase Profits

If there’s a method that works, then why try to change it? As an entrepreneur or business owner, you’re always looking to be more successful, find new clients, and increase your profits. To do this, you need the right strategy.

There is a way you can improve the customer journey and your profits. Plenty of businesses use High Ticket Ascension, so why can’t you? Paired alongside quality product offerings, you’re guaranteed to see growth in your customer base and bottom line.

Ready to take your business to the next level? Take a master class on getting paid for what you know, plus more strategies and tips for becoming the best in your business.

I hope you enjoy reading this blog post.

Schedule an add a zero session™ with our team to see how you can use our time-tested strategies and systems to scale your business now.

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