How to Stay Focused

How to Stay Focused

Dan Lok Show


What if your favorite food is hamburger because it’s the only food you’ve ever eaten?

If that’s the only food you’ve ever tried, then how do you know what else is out there?

How To Decide What To Focus On

This is the same as asking yourself what career you want if your experience is limited. Maybe you’ve only been a student all this time. Maybe you know you want to get into business so you’ve tried all kinds of things: e-commerce, affiliate marketing, and Amazon, and all were failures.

It’s okay to try many things that don’t work because you realize what you don’t want. I started and failed at 13 businesses before having my first success because I said “yes” to a lot of things.

So first find out what you don’t want and what you absolutely can’t tolerate by saying “yes” to many opportunities, knowing most will fail. Click To Tweet

So first find out what you don’t want and what you absolutely can’t tolerate by saying “yes” to many opportunities, knowing most will fail. Most will be a waste of time but that’s how you learn.

When you find out more about your likes and dislikes, your strengths and weaknesses, that’s when you learn how to stay focused. Highly successful people stay laser-beam focused.

To compare this with the dating world, when you’re first dating, seeing different people, that’s when you’re finding out what you like and don’t like. Then you get into a more serious relationship when you find the right match. You become more selective.

A few years pass by, and when it gets very, very serious with your significant other, you decide to get married.

How To Stay Focused In Business

It’s the same in business. To develop a sharp focus in what you do, first, you say “yes” to a lot things. You watch videos, go to events, buy courses. Then you find out what you excel at, and you start to hone those skills. As you’re honing those skills, you eliminate the other options and distractions. That’s when you learn to say “no”.

With all the social media presence out there, you will continuously be pitched a lot of opportunities. You could easily have a shiny object syndrome, when you start to chase every exciting opportunity out there. But you don’t.

You can feel it in your gut that you’ve found what you want to pursue, so you put your energy into saying “no” to all distractions. You don’t look for a backup plan, in case your chosen path doesn’t work out. That’s how you stay focused. You don’t fear what won’t work. You don’t make a plan B.

So learn to say “yes” if you’re just starting out, and learn to say “no” if you’re in a later stage. That’s when you know what you want, and you don’t get distracted because you can stay completely focused.

 

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The Psychology of High-Ticket Sales

The Psychology of High-Ticket Sales

Dan Lok Show - High Ticket Sales

Remember when you found out someone paid thousands of dollars for the ugly painting hanging on the wall?

You’re wondering why someone would pay that kind of money for horrible artwork. The answer is they saw the value.

This is the psychology behind high-ticket sales:

People afford what they want to afford. You might not think their purchase makes sense, but it makes sense to them. Click To Tweet

As a business owner or a salesperson, you’ll find the number one reason people don’t buy from you is not money. They say it’s money. But it’s not money. Sure, they’ll tell you that they can’t afford it, but in reality money is not the issue.

Do you want to close more sales ? Click here to talk to one of the leaders on my team who’s an expert in this area.

The real issue is they don’t see the value in what you offer. If they don’t see the value, it’s not their fault, it’s the fault of the seller.

Here’s a story that explains that. You may have a similar story. I helped out a gym in Toronto with Facebook ads, and they got really good results from paying very little money.

For their next ad campaign, I told them the regular price for my marketing services. The problem was, I gave them a free trial the first time. So for the second campaign, they said, “Wow. That’s expensive.” First, it was a free trial, and then they had to pay $2500 a month for marketing?

There was a disconnect for them. They got free services from me the first month. So why would they have to start paying now? It didn’t matter that I showed them I could do the work. They weren’t prepared to upgrade.

The real problem is, if you can’t sell yourself at your real price point, lowering your price won’t make a difference.

If you use dating as an analogy, it’s like saying, “I haven’t been out there.” You think you’re not attractive, so you just go on a bunch of cheap dates and you’re not happy.

It’s really about supply and demand. So don’t lower your value because there isn’t a demand. Don’t be desperate enough to take any customer, even if they aren’t qualified.

When dealing with high-ticket sales, there are a few questions you need to ask about your potential buyer:

  • Do they have the ability to pay and the desire to pay for your product or service?
  • What is their perception of you in the marketplace?
    How much they trust you depends on how much they know about you and your business.

When you’re selling high-ticket products or services, and asking for thousands of dollars, your potential client wants to know how much money you can make them. If you show them your value, you can sell them at your price point.

Do you want to close more sales? Click here to talk to one of the leaders on my team who’s an expert in this area.

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Is College Worth It?

Is College Worth It?

 

Dan Lok Show

You might be wondering, “Dan, if I dropped out of college, could I become a multi-millionaire like you?”

Or maybe you don’t want to drop out of college, you just want to ask, “Which courses are the best to take if I want to be as successful in business as you?”

Those are very good questions to ask. A lot of people think I dislike school because I dropped out. The truth is, I don’t hate school and I’m not saying school is a complete waste of time.

I think if you’re investing in your education, you should do it with a clear purpose in mind. Most importantly, you should be going to school for yourself.

It’s likely you’re going to school and majoring in certain subjects because your parents told you that’s what you should study. Or you chose a subject because your friends gave you some advice, or you think that a subject is the best for the job market.

People believe that college is their golden ticket to success. Click To Tweet

I disagree with that because nowadays it’s not enough to just have a college degree. To be a top employee at a company like Google or Nordstrom, a degree is no longer a requirement. The job market is changing.

You’re probably wondering what you can do to adapt to these changes. There are things you can do to improve your skills, which I’ll talk about in my podcast. The plans you make for yourself professionally depend what you want to do as a career.  

There are ways to prepare yourself to be successful, but a college degree will not be enough to get you a job when you graduate. Getting an education is just the first step.

 

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How To Get Started When You Don’t Have Money

How To Get Started When You Don’t Have Money

You’re staring at a account balance on your screen that says your savings are almost gone and you’re thinking…. you should start a business.

But how? How do you start a business when you have no money?

The answer is, you don’t.

Sometimes starting a business is a way out, sometimes it isn’t. But when you’re struggling financially, you’re desperate. Chances are, there’s a good reason why you have almost no money in the first place.

Maybe you don’t have a lot of skills, maybe you don’t have a lot of experience, or maybe you don’t have a lot of knowledge. Or maybe, mindset-wise, you aren’t ready to shift from employee to self-employed.

It’s also possible that you have a negative association with money. You believe things like “Money is the root of all evil.” Those beliefs tell me some of your values, and possibly why you have money challenges.

Don’t start a business just because you want to make money. There is nothing wrong with making money – I like making money – but if you’re actually struggling that much financially, just get a job.

Set aside your dreams of entrepreneurship for now and get some money coming in. Get a job, whether it’s part-time or full-time, and when you’re off work, after five o’clock, start working on your business. Start what people these days call a side-hustle. Do something online.

But don’t start a business with absolutely no money thinking that you’ll make it. Most likely you won’t be successful. But if you are decent at what you do and you’re adding value to marketplace with your side-hustle, you’ll see results.

This strategy is part of what I call the Wealth Triangle, which I teach on my YouTube channel. The Wealth Triangle is about learning a high-income skill before starting a business. When you have a high-income skill, your chances of… Click To Tweet

Statistics show that 95% of small businesses fail in the first five years. Even if you don’t fail, you don’t want to be just getting by. It’s going to take a long time and it’s going to be a very tough journey. My mentor gave me some very good advice about how to survive as an entrepreneur, which I share in my podcast.

 

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The Right Way To Set Goals And Actually Achieve Them

The Right Way To Set Goals And Actually Achieve Them

Dan Lok Show

What if you could take 15 years of experience and learn it all in 15 minutes?

How much time would that save you? How many painful lessons? How much grief?

I know what it’s like to look back and wish you could have done something differently, so what I’m going to do today is share with you what took me 15 years to learn. The key lessons, the three secrets about setting goals and being a high achiever. You’re going to get 15 years in 15 minutes.  

I spent the last decade and a half of my life studying achievement and personal development, especially goal setting. Any audio program, books and courses you can think of, I’ve probably read and taken them all.

You could still go and read all those books, but this is what I’ve found works for me. When it comes to goal setting, number one, you have to be very specific. Making money is just a wish or a dream.

A goal is wanting to make $100,000 in income by the end of the year or in the next 12 months. Click To Tweet

That’s a goal. It has to be very specific and very precise.

Let’s take a closer look at that $100,000 money goal. Now that you know your goal and when you want to get it done, you reverse engineer it. Ask yourself, “What do I need to do? What do I need to focus on? What skills do I need to upgrade?”

Divide your $100,000 income goal by 12 months, then by 52 weeks. What do you need to do each week to improve your skills? Then you break it down further into your D.I.G.

Your D.I.G., Daily Income Goal, or what you need to do every day to get to your goal by the end of the year. I explain the D.I.G. a bit more in my book, F.U. Money.

Setting a Daily Income Goal is like training for martial arts. In my podcast, I talk about how you can train yourself to set your goals and stick to them, the way people train in kung fu. Breaking down the goals is really important because over 12 months, it’s very easy to lose focus.

Once you’ve set your D.I.G., you also want to set goals for four major areas in your life: your health, your personal life, your finances, and your contribution to others.

If you think setting goals in four areas can be difficult to achieve, you’re right. It can be, but there is a formula you can use to make sure you succeed at achieving what you want to do.

I set my goals in such a way that when I finally accomplish what I set out to do, it’s no surprise. You can live as if your dreams have already come true.

 

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