One question Dan Lok gets from his students all the time: What is the dark side of high income skills?
A high income skill is any skill that allows you to earn a six-figure income. These skills include copywriting, web development, closing, consulting and digital marketing.
If you become a master at a specific high income skill, you will be able to reap great rewards. Think about what it would mean to earn $10,000 or more every single month: you would be able to take care of your family, pay off any debt, and stop doing those boring chores. Imagine how much your life would change if you had one high income skill.
To put that number into perspective, Americans have an average household income of $62,000 a year. That’s around half of what they could be making, had they learned a high income skill.
Not everyone is born with a high income skill, but that doesn’t mean they can’t acquire one.
The very first high income skill Dan Lok learned was copywriting. Through copywriting, Dan was able to take care of his mom and develop a comfortable lifestyle.
Now you might be wondering, how can there be any downsides to having a high income skill? You’re achieving financial confidence and living life on your terms.
As you will see, your mindset plays a crucial role in your level of success. Even if you start from a humble place it’s easy to get caught up in everything going on around you.
Before we cover the dark side of high income skills, let’s go over the three stages of learning one.
The Three Stages of Learning a High Income Skill
Developing a high income skill is an involved process that requires many hours of learning, practicing, and perfecting.
Throughout your journey, you will likely find yourself in one of these three stages:
You Don’t Get it
In the beginning, you have no idea what a high income skill is and how it applies to the business world.
You are Starting to Get it
With some guidance, you have now started to understand what the skill is and how you can leverage it to earn an income.
It All Makes Sense Now
After countless hours of hard work, you have built a loyal clientele and are now earning a reputable amount each month.
As you can imagine, many entrepreneurs strive to reach the third stage of learning. This, however, is where the dark side of high income skills begin to creep in.
Once you have reached your income goal of $10,000 a month, you have two options.
Option #1: Sit back, relax, and reap the rewards.
Option #2: Continue learning, growing and expanding your knowledge.
While it’s clear that Option #2 is the best way to advance your career, most people will lean into Option #1. Why do you think this is?
Whether you have it or not, it’s hard to stay away from the influence of money as it can boost levels of happiness and self-fulfillment in your life. This is especially true if you’re someone who came from poverty.
For this reason, people often forget to stay humble once they attain financial success.
In this article, we will cover the dark side of high income skills. This is the side of entrepreneurs you don’t see on social media, and that no one tells you about.
1. Money Changes People
Going from rags to riches is the American dream, whether by means of a well-paying job, business, or the lottery. Many studies suggest that money can change the way you behave.
Your thoughts, behaviors, and actions are all linked to your psychology. While money cannot change your belief system, it can influence the way you act towards others. This is the dark side of high income skills.Money can change the way you act towards others. Click To Tweet
If you’re still not convinced that money can affect your actions, here are three ways money can change your behavior:
You Become Arrogant
Have you ever met someone who thinks they are more important than everyone else? Or someone who can’t stop bragging about themselves? Such actions bring down the morale of a group and create a hostile environment.
You Think You Know it All
Know-it-alls have a variety of personality characteristics: from being impulsive to developing poor listening skills and inability to read social cues. It’s no wonder money sometimes gets to their heads.
You Show Less Empathy
It’s crucial you remember where you came from, once you have found success. Think about the hardships you had faced and the emotions you experienced. Don’t forget that other people are going through similar experiences, too.
It’s not unusual to see successful entrepreneurs behaving this way. In fact, it’s quite common, especially with those who had never seen that much money before.
They feel like they’ve got it, and are on top of the world. If you want to avoid making the same mistakes, we have designed an easy strategy for you to stay humble when you are doing really well.
How to Stay Humble When You’re Winning
The world of business can be a very confusing space.
You’re taught to be competitive and strive to outshine everyone else so as to win over deals. But it’s this competitiveness that destroys any chance we have of using humility to advance our lives and achieve our goals.
The dark side of high income skills is that you often find yourself treating every conversation as if it was business. You feel the need to win over everyone to speak to so as to not lose.
The truth is, hurting others so that you can win does not constitute success. Here are ways you can stay humble while achieving great success:
- Compete against yourself: Look to become a better version of yourself every day. When you prioritize self-improvement over winning, you will create a healthy environment for yourself and your peers.
- Don’t feed your ego: Surrounding yourself with people who say “yes” to everything you have to say is like talking to yourself. Instead of isolating yourself from reality, choose to meet someone new to learn about every day.
- Success is temporary: Success is a journey, not a destination. If you take your foot off the gas pedal, you are likely to fall behind your competition. Continue to keep learning and bettering yourself each day.
- Remember your roots: If you have had a humble upbringing, don’t ever forget about it. Use this fuel to keep pushing forward, and share your story with other people. Furthermore, give back by helping and mentoring other entrepreneurs.
You don’t have to apply every single one of these strategies to your life right now. Instead, take one or two and see how you can better yourself today.
2. People Become Complacent
It’s easy to become consumed by money when you don’t have much of it. You are probably very aware of what you buy and how much you spend.
But what happens when you start doing moderately well? What if your debts are no longer overwhelming, and your income is enough to meet all your needs?
When everything seems to be working fine, it’s easy to shut down and let things slide. You might even decide to purchase a new car; it’s not a terrible idea, at least for the time being.
But what happens when that complacency stretches over a long period of time? How invested do you think you will be in your money then?
The tragedy of life is often not in our failure, but rather in our complacency”. – Benjamin E. Mays
If you ever reach this point, you will have entered the dark side of high income skills.
Fortunately, these mistakes can be avoided by always remaining invested in your personal finances. Do you have money set aside for:
- An emergency
- Any existing debt
- Children’s education
If you want to take care of your family and leave behind a legacy, you need to be mindful of your finances from the early stages of your career.
Here, it’s clear why you should think more about how you spend each dollar you earn. What happens if you fall sick, lose your job, or have a major loss in your family? Before you know it, you are back to the old ways of scraping by to make ends meet.
To better understand the consequences attached to being complacent, we will look at the story of Rocky, the heavyweight boxer.
Rocky the Heavyweight Champion
If you have ever seen the movie Rocky, you know that it had a very powerful lesson.
Rocky came from a humble background, and his dream was to become a world-class heavyweight boxer. After taking every championship belt in his city, he was ready for more.
In the midst of his training, Rocky was presented the opportunity to fight Apollo Creed – the most respected boxer of all time. The problem arose when Rocky, who had found so much success, decided to go into the match unprepared. He was so confident he would win that he even teased Apollo before the match.
Rocky entered into a 15 round match he would never forget. By the end of it, he had a cut eye, four broken ribs, and various injuries to the head.
Being too complacent can derail your career. Often, complacency makes us forget about some of the potential dangers, defects, or setbacks ahead. This is the hidden dark side of high income skills.Don't let complacency take over your life. Click To Tweet
In order to eliminate complacency, you must always strive to upgrade your personal standards and define what is and is not acceptable.
This starts with an unbreakable commitment to yourself. Do you want to become the best copywriter in the housing industry? Do you want to become a highly skilled closer with a 60% close rate?
Whatever it may be, decide today that you will achieve those goals no matter what. Don’t let distractions or setbacks get in your way. With this mindset, you will take steps towards your goals every single day.
3. People Stop Learning
Lifelong learning is the first step to becoming an amazing business person. In an ever-changing world, not learning means you’re falling behind.
Strategies and techniques that work well today might not work well tomorrow. The clients that agreed to work with you last month may have other plans this month. Your environment is changing, and you need to do so as well.
According to Productivityist, an average person consumes 75 gigabytes of information each day. That’s just 1% of the brain’s capacity.
Think about how much potential you have to learn new things, and you are just only scraping the surface.
It’s only when you choose to stop learning you enter the dark side of high income skills. Here are three reasons why:
You Think You Know it All
It’s impossible for you to know every little detail and secret about a high income skill. Instead of finding ways to outsmart people, see what you can take away from their words.
You Become Too Comfortable and Stop Growing
You can’t afford to stop growing. Before you know it, your strategies and techniques will be outdated. Get comfortable being uncomfortable and learn something new every day.
You Forget About the Future
It’s very easy to live in the present when everything is going really well. The problem is, unexpected events creep up on you when you least expect it. Plan for the future by improving your skills whenever you can.
The market moves forward whether you are ready or not. By proactively learning every single day, you will be ready for anything the world throws at you.
How Can You Be a Proactive Learner?
Taking the initiative to learn something new every day can be an involved process. Most of the time, it feels like you are hardly getting anything out of it.
The trick is to look for small improvements. To put this into perspective, if you improved a chosen skill 1% each day, by the end of the year you will have gotten 370x better at that skill.
Let the improvement of yourself keep you so busy that you have no time to criticize others.” – Roy T. Bennet
This problem is, it’s difficult to measure a 1% improvement. What does this even look like?
In this YouTube video by Dan Lok, he covers what the dark side of high income skills is and what it means to be a proactive learner each day.
If you want to advance your skills every day, here are five ways to be a proactive learner:
- Subscribe to your favorite entrepreneur’s work
- Go to networking events and workshops
- Read books and articles to expand your knowledge
- Find a mentor to help you perfect your craft
- Get feedback on your work from friends and family
Maybe two or three of these tips stand out to you. However many they are, find a way to apply them to your life moving forward. Your future self will thank you.
If the third point caught your eye and you are looking for a new book to read, why not pick up Unlock It by Dan Lok?
If you’re set on learning a high income skill but don’t know which one is right for you, Unlock It has the perfect solution for you.
Backed with over a decade of failures, setbacks, and hardships, Unlock It covers the full journey of mastering a high income skill.
Furthermore, it touches on the dark sides of high income skills and ways to overcome them early on. This is the only resource you will ever need to kick-start your career and have a prosperous life.
If you’re ready to become the best version of yourself, click here to order your copy of Unlock It today.