Entrepreneur training should set you up for life. But it usually doesn’t. In fact, knowing how to grow a business can hold you back – statistics show that 70% of startups fail because of premature scaling. And yet, a lot of prestigious programs around the world focus tactics and strategies. That said, there are certain aspects of entrepreneurship you only learn through training.
You see, when Dan Lok started, he didn’t have any formal training. So he tried to figure everything out on his own and ended up making many mistake after mistake. He ended up trusting a ‘business’ partner who scammed him out of tens of thousands of dollars. Then he got into vending machines and other ventures that simply weren’t profitable. After 13 failed businesses and many wasted years, he ended up with a debt of over $150,000. But that all changed when he found a mentor to teach him. With the right training, he was able to have exponential and lasting success. That is why entrepreneur training is so necessary.70% of startups fail because of premature scaling Click To Tweet
Maybe you’ve been looking for the right entrepreneur training to help you get started. Or maybe you’ve already begun but are now stuck. Or maybe you’re already successful and are looking for a slight edge to keep you relevant and thriving. No matter where you are now, the right training will see you apart from your competition. But which entrepreneur training is right for you?
This article will explore what the ultimate entrepreneur training entails and what it doesn’t. At the end of it, you’ll understand what to look for in a course so that you can get to the next level. Before we get started, a quick note:
If you don’t have the money to start a business just yet, Dan Lok strongly recommends that you learn a high income skill first.
What Kind of Entrepreneur Training Do You Need?
With so many opportunities on the internet these days, anyone can take a course and call themselves an entrepreneur. But that doesn’t mean that everyone has what it takes to be an entrepreneur. Most people are employees who are suffering from an ‘entrepreneurial seizure.’ They often look at what their bosses do and decide that they can do better. Unfortunately, they lack the essence of an entrepreneur. Many of them rely on the wrong instruction and end up taking unwise shortcuts. That’s the reason why 42% of small businesses fail because of ‘lack of market need.’
Real entrepreneurs, on the other hand, are problem solvers. They see that there is a need in the market place, and they look for the means and methods to solve it.
If that sounds like you, then we invite you to keep reading. Now, you might already have some knowledge because of entrepreneurs in your family. Or perhaps you were always drawn to studying business. Or maybe you fell into entrepreneurship and have personal experience to draw on. Let’s take a closer look at the three most common ways entrepreneurs get started.
1. The Born Entrepreneur
If your parents or family members are entrepreneurs, then you probably fall into this category. You may have first-hand experience with the ups and downs of the economy. Maybe your first jobs were at the family restaurant or shop. Or maybe you spent your summers at work for your parents.
Even if all you were discussions at the dinner table, you have more experience than most. And that gives you a good head-start. Proper entrepreneur training will provide you with different perspectives. You’ll be able to see different ways of doing business and gain a deeper understanding of what you experienced growing up.
2. The Student Entrepreneur
Perhaps you were inspired by entrepreneurs. Or maybe you were drawn to the various fields that make up business – like accounting, finance, or economics. Or perhaps you were told that a degree, like an MBA, will be the fastest way to succeed in life. Whatever led you there, you most likely studied business at the university level or beyond.
Just like born entrepreneurs, you probably have a high level of business knowledge. But the experience you have might be more academic and technical. You see, the usefulness of a business degree has been long debated. The problem is not so much what they teach, but what those courses lack. And that’s real-world scenarios. The right entrepreneur training, therefore, will help you get a more hands-on understanding of business. With it, you’ll be able to tie all the various concepts together as a whole.
3. The Self-Made Entrepreneur
The people in this category experienced entrepreneurship for themselves. Perhaps, like Dan Lok, you didn’t have any training at all when you started. You were just answering a deep desire to solve specific problems in the world. Maybe you had a lot of different creative ideas that you wanted to try. Or perhaps you just wanted to fast track how much money you could make.
Maybe you’ve been doing what you’re doing for years, or perhaps you’re just getting started. Either way, you are in good company. Legendary entrepreneurs like Bill Gates, Steve Jobs, and Rachel Ray didn’t have formal training either. Good entrepreneur training will help you avoid many mistakes in the future. Rather than re-invent the wheel, you’ll be able to borrow the knowledge and wisdom of others who have been there and done that.
Who You Learn From Matters
Three types of people generally teach entrepreneur courses. The first category is made up of research professors and academics. The majority of them have profoundly specialized knowledge of entrepreneurship. The best ones have spent decades studying various aspects of business, crunching the numbers, and unraveling complicated theoretical questions.
While their knowledge is essential, they don’t make the best teaches for entrepreneurs. Why? Because they often lack the necessary real-life experience. Many of them tend to focus on historical trends and aren’t in the trenches with other entrepreneurs. And they usually don’t have any skin in the game – so their risk is low. These limitations mean that they can only guess. They can’t help you take your business to the next level.
The second category is made up of business people. They have skin in the game. And they are preaching what they practice. The only problem is that many of them are entrepreneurs who cannot teach. They struggle to break down complicated concepts so that students can understand them easily. That doesn’t mean that their insight isn’t valuable. It just means that their teaching might be confusing for those getting started. Their methods are likely better suited to advanced and established businesses.The best entrepreneur teachers are in business right now - they have skin in the game. Click To Tweet
The third category is made up of the best entrepreneur teachers. They are advisors, mentors, and successful CEOs like Richard Branson, Joe Polish, and Dan Lok.
These entrepreneurs are not only in business right now, but they also know how to teach. They can break down complicated concepts and give you the right advice at the right time. Whenever possible, learn from these teachers. Whether it’s through their courses, books, or other content, they will be able to point you in the right direction. With their help, you can absolutely grow your business to the next level.
What the Best Entrepreneur Training Teaches You
Traditional business education focuses on topics such as accounting, economics, financial reporting, marketing, and statistics. And while these are good to know, they tend to be academic. Most of them don’t prepare you for the real world of entrepreneurship. For example, they don’t teach you how to get customers and keep them. Or how to motivate leads to buy. Or even how to persuade lending institutions to give you funding.
In short, most business courses don’t teach you how to make money. So here are some of the topics you want to learn instead:
Let’s take a closer look at each of these sections.
1. How to Communicate with Anyone
Entrepreneurs must be excellent communicators when dealing with just about anyone – whether that’s financial institutions, team members, or customers. Entire courses are dedicated to communication dedicated to it. And there are lots of ways to communicate. Over the phone, by email, or from a stage.
But without excellent communication, you cannot succeed in business. So the right entrepreneur training should give you a solid understanding of how to communicate. It should also help you develop your voice and communication style. It should teach you how to recognize body language as well as content and context clues. When you’re done with the training, you should also be comfortable with public speaking.
2. How to Persuade and Influence Others
Knowing how to communicate effectively isn’t enough. Entrepreneurs are leaders. And leaders need to understand how to influence others. Most business courses don’t teach persuasion because it can easily be misused. So if you aim to coerce and force others to do your bidding, you shouldn’t be an entrepreneur in the first place.
Ethical entrepreneurs, on the other hand, can use this great power to discover their customers’ needs and better meet them. They’ll be able to form lasting connections with their clients, team, and others. So proper entrepreneur training will make sure to include modules on how to persuade and influence others ethically.
3. How to Recognize Good Copy
Why should you know how to copywrite? Because it can generate at least 3x more leads while closing 62% less than traditional marketing. Some business courses might teach business writing. But that’s not the same as copywriting. It won’t equip you with the skills to create sales messages.
Copywriting is also used in social media content like YouTube and Instagram.
As an entrepreneur, you will be busy with various aspects of your business. So even if you don’t become an expert copywriter, you should, at the very least, be familiar enough with it to recognize good copy. That way, you can hire the right copywriters to join your team and write on your behalf.
4. How to Generate Sales
Knowing all the latest and proven strategies in the world won’t help if you don’t understand how to guide a customer to the sale. If you can’t sell, you won’t have revenue. And without income, you can’t succeed. Entrepreneurs who start in sales have an advantage over those who don’t. Why?
Because they understand what it takes to turn interactions with clients into money. Many people think that learning sales is daunting. But the skill can be learned relatively quickly. Once you know the basics, you’ll understand what questions to ask, how to position yourself, what tonality to use, and how to handle objections. Yes, there’s a lot. But it can be learned in a matter of weeks. Complete entrepreneurship training will help you become a master at sales.
5. How to have a Successful Entrepreneur’s Mindset
People turn to entrepreneurship for various reasons. Maybe they want to make more money. Perhaps they want to have more time freedom. Or maybe they want a luxurious lifestyle of the entrepreneurs they see on social media. But what many entrepreneurs don’t realize is that entrepreneurship is tough. There are sleepless nights, missed time with family, and long hours. You could go months – even years – without generating money. And time freedom is a myth. Do you want to know how most successful entrepreneurs make it?
They can endure pain for a long time. No matter what goes wrong – and things USUALLY go wrong in business – they can pick themselves up and keep going. Their secret is that they have an influential entrepreneur’s mindset.
Why Entrepreneur Training SHOULD Address the Mind
Success is not an act or a one-time event. Success is a habit and a series of events. That means that to be a successful entrepreneur, you need to have stamina. But how can you push through the inevitable setbacks? What will keep you going when times are tough?
Your grit. The definition of grit is “courage and resolve; strength of character” – but you cannot have those without a healthy mind. Having a strong mindset means being able to find opportunities during any crisis, to stay calm and pivot, and to be a lighthouse when everyone else is drowning.
The other reason mindset is essential is often overlooked. You see, the way we think can hold us back as well. For example, if you think things like:
- I wouldn’t pay X – that’s too much!
- No one will ever buy this…
- I’ll never be successful.
Then you’ll have a challenging time selling your products and services. A complete entrepreneur training program should teach you how to have a strong and healthy mind. It should at least show you how to deal with self-limiting money beliefs, how to deal with overwhelm, and how to expand your mind with gratitude and meditation.
What Else Should You Get From Entrepreneur Training?
The right entrepreneurship training should help you develop:
- Critical and creative thinking. This will help you apply the right strategies and techniques at the right time.
- Self-awareness. When you are self-aware, you’ll be able to can make decisions with confidence.
- Superior research skills. And that’s in addition to market research.
- Success habits and productivity skills. If you want to kick perfectionism to the curb and move the needle every day, you’ll need some solid habits and abilities.
- A student mindset. The most successful entrepreneurs are always studying. They’re still learning from others in their industry and those from outside their industry.
There are many other things to know, as well. For example, how to build your brand, how to launch a product, how to approach lending institutions, and secure funding. All of these things hinge on one thing. And that is the ability to make money. Why?
Because in business, nothing happens until you make your first profitable sale. It doesn’t matter how many techniques you know or where you studied. Until you generate your first profitable sale, you’re still just getting started. But that’s not all either.
Entrepreneurship isn’t just about making money. Dan Lok says that money is a means to only two ends:
- It brings you comfort by making your life easier.
- It helps you expand and multiply how much good you can do for others around you.
As mentioned before, real entrepreneurs are those who create solutions for problems that exist in society. It doesn’t matter how small or big that problem is. If you have the drive, the passion, and the desire to solve it, you will find the right training you need.
The Ultimate Entrepreneur Training
Now you see why entrepreneur training should set you up for life. And why it should help you develop a healthy entrepreneurial mindset. Why it should give you actionable advice you can use – rather than theory you can consider. And most importantly, why it should give you tools to generate revenue. These are just the basics. But they are the ones that will make you successful.
Now, there are a lot of things you’ll be learning along the way. Perhaps you’ll decide to invest in traditional education and spend 1-2 years learning advanced concepts. But if you want the training to the next level NOW, then Dan Lok’s Ultimate Training Collection will get you there. It is a compilation of several of Dan Lok’s most popular entrepreneur courses including:
- Persuasion Secrets
- Millionaire Money Habits
- Copywriting Secrets
- How to Sell High Ticket Consulting Services and Programs
- Objection Handling Secrets
In addition to these, you’ll have instant access to 7 other essential modules. The great thing about this collection is that you can pick which section to study and master it in days. So click on the link here to get started.