Why are you in business in the first place?

By a show of hands how many of you want more income in your life put that way up and say yes! Yes! How many of you don’t just want more income, you want more passive income, put that way up and say oh yes! Oh yes!  Now, first of all, I want to thank Jennifer, give her a round of applause for putting this together. A lot of friends and Jennifer’s been inviting me to come to the Fraser Valley and her friends on Facebook George. And say “Hey you know when are you coming “to Fraser Valley?.” Because usually, I do most of my work most of my teaching at, through my Entrepreneurs Group where we meet every second Wednesday at Vancouver Club.

And so, and I believe that’s a way for me to give back to the businessman community for Vancouver because Canada has been so good to me and I do my teaching there every second Wednesday. I don’t sell anything there. Whatever I collect in admission barely covers the venue cost. But I do it every two weeks, every two weeks. So today would be quite interesting because I did this talk about this workshop in a couple of months ago. And it was a three-hour workshop. So I’m trying to give you three hours of content in about an hour okay, about an hour. So I’ll do my best, I’ll do my best. Now also at the end of my presentation, I’m gonna give you a copy of my book, FU Money for free, who wants it by the way Yes!

Put it nice and high, nice and high so I can see, if your hand is not up now, I ain’t giving you shit. Okay, good, good, okay. And some people say they see the book, “Oh Dan is it like Fu money, what is F-U Money. It fucks you money okay, it’s what it is, it’s exactly what it means. So, by show of hands, how many of you want to have some fun tonight, yes? Yes! Very good, very good, now for what I want you to do, I want you to get the most out of our time together, So first I want you to do two things, how many things? Two!

Now the first thing I want you to do is I want you to take notes, I want you to take notes okay. And the second thing I want you to do, which you’re already doing great, is I want you to participate. Because participation equals value, participation equals what? Value! So the more you participated, the more you participate, the more forward you play, the more value you, Get. Get exactly. So just so you know, this is like 10% participation, this is 50% participation, this is 100% participation, so let’s try this out, let’s try this out. So how many of you are willing to participate a hundred percent, yes?  I am.  Yes. Awesome, you get the book first, okay. So I want to start off with a story, there’s this Native American tribe.

The government was thinking well you know what we’ve got this group of people this community here how can we make them more productive. How can we collect more taxes because that’s what the government thinks about? So one day they thought you know what, we’re gonna send one of our top agents to this tribe. And see if we can help them out maybe put them through school, help them get jobs and things like that. So the government sends these top agents to this tribe, now this top agent is very very smart, he’s thinking. “well you know what this is a tough job, “so what can I do?” He thought himself. Well instead of trying to persuade each member in the community one on one, why don’t I just go to the top from top to bottom.

Let me talk to the chief, let me talk to the Indian chief if I can get him on board. Everybody else will be on board make sense? So he went to the chief, and said, “Hey chief you know here’s, “we’re here to help you, the government sent me here.” Great here to help me? “And what I want to do is, I want to help you, “I want to help you, I want to put you to school.

“I want to put you through school, “and don’t worry we’re gonna take care of everything, “we’re gonna pick you up from where you live. “We’re gonna drive you to school, “and we’re gonna get a tutor for you. “Make sure you get good grades, “and you can get a job and you can graduate. And the Indian Chief said, “Well why would I want that?” Well ’cause after you graduate, then you can work, you can get a job and make a living.

Well, the Indian Chief said that why would I want that. Well, when you make a living then you buy your own home, you own your own home. And then you have your own place, you can have some kids, and you work, and you can save up some money. The Indian chief said, “Well why would I want that?” Well you know when you’ve saved enough money, you work hard and this and that and when you’re 65 you can retire, “Well why would I want that?” Well, when you retire you can do whatever you want, you can go hunting. You can go fishing, you can sing all day long, you can do whatever you want. The Indian Chief said, “Well I’m doing that right now.”

So the question and write this down, here’s the first lesson of the night, it’s not how much money you make, is how you make the money. It’s not how much money you make, it’s how you make the money, think about it. Because sometimes businessman, what I notice is we get into business and then after a couple years two, three, five years, ten years after a number of years.

And we got so busy and we’re doing things, we’re trying to make it happen, we’re trying to make the business work. We’re trying to make a profit trying to survive or prosper whatever it is. Sometimes we forgot why are we in business in the first place, why do we get into this in the first place? So let me ask you a question, why are you in business in the first place? Just yell the answer. Make money.


How to started on this path of passive income

Make money good, but why do you want to make money for what?  For happiness. For happiness, good. Hang out with my friends. Hang out with your friends, a little bit more free time yes. Help people. Help people good, make a difference. Travel the world. Travel the world very nicely. Security. Security, good. For my kids, for my kids. For your kids, to provide for your family, great. So I can say F-U government. To say F-U to the government, good, good.  How many of you got into business in the first place because you saw there’s maybe a problem. And you would like to solve their problem? Can I see a show of hands, okay?

How many of you got into a business because maybe you saw a product or service whatever it might be and you thought you know what I can do better than that. And you started your business just because of that? Interesting interesting. So the first, by the way, this is going to be a more interactive experience. I don’t believe me just lecturing and stuff like that. So I just don’t just want to be talking and lecturing we’re gonna be doing shit here okay. Is that okay? So the first things I want you to do, I want you to find a partner, find a what? Partner. And preferably someone you don’t know, so go ahead and find a partner first. Find a partner you don’t know.

Yep, yep two, you got it, you got it.  Can we have threesomes? It’s up to you, somehow I kinda get a different picture in my mind now. Yes, you could yes that’s fine. Everybody has a partner, everybody’s got a partner, yes okay, good. So what I want you to do, I want you to discuss for two minutes. What does passive income mean to you, and what does financial freedom mean to you. I’ll give you two minutes, just among your partners go. Give your partner a high five and say thank you for sharing. Thank you for sharing. So you know what does it mean to you and it’s very personal, everybody means. It means different things of course, and tonight.

I’m gonna share some things with you, well first of all the truth will set you, what. Free. But first, it will Piss you off.  piss you off. And I’m gonna say some things tonight that I think will shock you and I know that why you came here. And I also now know what you came here to learn. But I think what you walk away with from tonight, might be quite different than what you expect. You might think you’re coming for one thing, but I think you’ll walk away with something way more valuable. You might think tonight is a money conversation, but then at the end, you might realize, it might be a lively conversation.

So it would be quite interesting, and I think last time I did this, it was extremely powerful, and people were blown away by what I shared, and some people were pissed off. And it’s normal because sometimes it piss you off first and then you’re like damn. That is the truth and it might take a while for you to digest but if you actually you are if you’re open what’s the word?  Open. Opened. I think you’ll find it incredibly liberating but let’s see what happens okay. Let me tell you a little bit about my journey and how I started on this path of passive income. How I generate passive income, I first came to Canada years ago with no money, no connections. And not a word of the English language on my lips you can tell from my accent.

I was born in Hong Kong I came here when I was 14 years old, and my mom and dad got divorced when I was 16 years old. So I was the only child my family, so at an early age, at first, my dad was you know, sending us some little bit of money. But later on, because his company went bankrupt, in Hong Kong so he stopped sending us money. And all we had is whatever we brought to Canada. So as a young boy then I had to mature very quickly because then I had to provide for my mom, I had to take care of my mom. At an early age, to me, I was never interested in money, it wasn’t, it was never my thing. I was, I thought you know at the time I was very much into a martial art, I thought my biggest dream in the world would just be a martial art instructor, that was it.

But then I realize at the time my martial instructor, was broke. He had five students, and only two were paying him, and I was one of them. So I thought maybe that’s not a good way to make a living and I couldn’t provide for my mom but what’s interesting is looking back. What I realize is that I have I’ve always had a teacher’s heart, I like to teach. So now the difference is I’m not teaching the martial art. But I’m teaching entrepreneurship and business, that’s my passion, and you see I’m very passionate about what I do. So through that experience, I started my first business when I was in high school with a couple of my buddies a lawn mowing business.

Now let me tell you about lawn mowing business, we start off with you know. We had a lawn mowing machine, and a couple of buddies and the business was okay. It was doing quite well, except we just didn’t have any customers, everything else was good. So now in business, when you don’t have customers what happens? You go broke. Go broke. And then when you go broke do you still have a business, no. So I learned my lesson there, so you know we failed very quickly and then I started another business. And I thought to myself, you know what, learned my lesson and dust myself off, learn from my mistakes, started the second business. And I said to myself, “This is it, I can feel it.


Different psychological tactics which is very useful in business

“This is the one that I’m gonna make it big, “then I can provide for my family, “and pay off some the debt, this is it.” and guess what happens? You went broke. Now I failed again, and then I dust myself off, learn from mistakes. Say to myself, motivate myself and said, “You know what, start the next one, “this one, this is the one, I can just feel it. “I know it’s gonna work”, and guess what happens? Same. Yeah I failed again, okay. And at the time, I was trying, jumping from one thing to another, and always looking for the perfect vehicle. The perfect business whatever might be, and I would try all kinds, try vending machines, I tried that with marketing, I try you know software all kinds of things right, none of them worked, none of them worked.

And then I went into a different path where okay how come I see other people are successful. How come I like I don’t think they are they 10 times smarter than me? I don’t think so. Are they, do they work 10 times harder than me? I don’t think so, then what’s missing, must be something wrong with me. So I went in, went heavily into personal development. So read all the books and attend the seminars, workshops motivation, motivate me. And in fact, how many of you have read Think and Grow Rich? Yeah, wonderful. So I read Think and Grow Rich ten times, from the front page to the back page, back and forth.

Now the problem was, there was a lot of thinking, not a whole lot of riching. Okay, and then how many have read How to Win Friends and Influence People. Yeah, yeah I also read that book multiple times, the problem was, I couldn’t influence my friends to loan me more money. So that didn’t work, that did not work, and at that point, I was about $150,000 in debt from friends and family. And credit cards and everything, in debt and I joined the NFL club, no friends left. Because every time I would call them, “Oh it’s you the.” That’s it, that’s it. They wouldn’t take my call anymore it wasn’t. It’s now looking back it’s kind of funny but it was embarrassing, it was very embarrassing.

And I was what I would call, now looking back, I will call myself at the time. A kind of like a business opportunity junkie, because I would buy all kinds of stuff. Buy all kinds of programs and try to make money and I would buy those. How many have seen those home business or business opportunity magazine, have you seen those? How many bought those magazines? Be honest, okay thank you for your honesty. So I bought those magazines, and I was the guy that would respond to every ad. I would look at the oh this guy’s making money from mail order, let’s do that, now this guy’s making money from classified ads.

Let’s do that, oh and this guy’s making money from his kitchen table in his underwear, let’s do that, that’s even better. So I bought all kinds of shit right, everything. Now what happens when you respond to all these ads, do you know what happens? Spam. – Yes, I’m talking like direct mail days right. Now guess how many junk mails I’ll get, a lot, a ton. So it’s funny, ’cause my mom would open the mailbox, and she has like three letters. And I have this pile of stuff like 30, 40 letters every day, like what the hell are you doing Dan right. And I would look at these things, and I tried different things and none of them work of course, none of them work.

I thought to myself, there’s something missing here, I bought these, I tried kind of, to implement what they taught. But how come it doesn’t work for me and I don’t quite get it. So obviously I’m not making money buying this crap, but then I thought maybe people are making money. Selling this crap it’s just a different mind shift. Then I thought to myself, huh isn’t that interesting, because whoever is selling whatever they’re selling. I’m sending money to this guy who I’ve never met, I’ve never talked to, and I’m sending him some money, this is interesting. Wouldn’t be good if I’m on the other side. So then I started looking at these things from a different perspective, from a different what? Perspective. A different perspective, I looked at it, I’m like okay.

Now I’ve started studying marketing, and then, later on, I found a mentor his name is Alan. And he took me under his wing, and he said, he’s you know a marketing guy. He taught me copywriting and marketing and how to write ads, and I basically worked for him for one year. For next to nothing basically nothing volunteer. And I always refer to that year, like the million-dollar year of my life. Because I got a million-dollar worth of education in that year.

So that might not be the answer for everybody, but that was the answer for me, finding a good who has been there and done that. So after Alan good me and then I opened up my little own one-man advertising agency. And just writing ads for business. For speakers for authors, and in my early 20s I was making $10,000 a month, now how many you recognize like for twenty-something years old. 10 grand is a lot of money, it feels like a million bucks.  I can provide for my mom, pay off some debt, and still you know live a pretty good life.

After a while of that, then one day, I met a webmaster at a time, and he said to me, he said: “Dan you need a website.” Okay, why do I need a website, “No, no, you need a website.” What I’m gonna put on my website I don’t get it because I’m busy enough, I don’t need more clients. “So well you know we could sell something on the website.” What am I’m gonna sell, “I don’t know, put some stuff together, “sell a book or something? I said, “Okay fine.” Then I sort of put together a book. So I wrote my first ever book, it’s called psychological tactics. Now it’s interesting because when I first wrote the book, my intention was to use the book to help protect consumers of like what are these marketers doing to make you buy stuff but then guess who is buying all the book, Marketers.


What are the different types of income

Yeah all the marketers and business people right, wasn’t my intention. It was not my intention. So I wrote a book and I printed like a hundred copies of it. And it cost me five bucks each, and physical copy. And I remember at the time, I post on an on a business forum or something. I post it and you know after a couple of days, nobody buys, and this is I’m talking before PayPal, before merchant account. So one day, my phone rings, I picked up the phone and this this gentleman from the States, he said “I saw your posts on this forum, “do you still have any of those books available?”

About 100 of them. Yes I still have a couple copies, yeah I’ve got a couple copies, they’re selling well but I’ve got a couple of copies. Well, can you send me one of those, sure like how would I pay you, I don’t know well can I send you a money order, okay sure so he sent me a money order. And I ship him the book, and when I first got the check, that money order in the mail. It was the most incredible experience I’ve ever had because it was a validation. That hey you know what I’ve got something. Here that might work if it’s 20 bucks doesn’t matter because at the time I was trading hours for dollars. I was making high dollars, but still, it’s time for money,

So I thought to myself, this is interesting. I sold out a hundred copies in about 30 days, so I made about 1,500 bucks. Now if you were me, what’s going through your mind now? I would do that again. Do that again, yes. What’s going through my mind. More books. More books, I could do more like it what if I put this, because it’s just part-time, what if I do more. I do more marketing can I sell you know 200 copies, 500 copies. What if I had more books, I don’t know, that was it because I want at a time. My intention was just to make enough money so that I could just spend less time working with clients one-on-one. Because I want to spend more time with my mom because I was working all the time although she’s home.

But I’m just in my room working all the time, I didn’t like that. So that was my intention and from there, make very good money, launch the next book, the next product. And I love that, I talked about that in my book, FU Money. And maybe timing, you can say luck, the internet took off. I was getting now a little bit of money, I went into different niches, different industries, more products, and affiliate marketing, and at one point was making a ridiculous amount of money. I’m talking ridiculous amounts of money. And I was, I would let’s say go out for dinner with my friends and we would blow three grand on a night. Just like that, and I don’t even drink. I don’t drink, and we blow like three grand like I was stupid, I was getting a new car every year.

It was stupid stuff, I did stupid stuff, and I’m not proud of it, but you know as a young guy, you went through that, you got that right. You went through that, and but looking back what’s interesting is. Why was I doing that, buying my friends, taking them on vacation, buying them drinks, buying them dinners and this and that, why was I doing that?  It’s fun. It’s fun, no, but why was I doing that? Because it’s good. Yes but it’s but deep down, what was I craving, what was I looking for. Recognition. Validation. Recognition, validation, I was trying to buy approval, I was trying to buy love, attention because my mom and dad got divorced. So that what’s lacking in my life.

Now but let me ask you a question. If my friends were coming me for, coming to me for that, are they, true friends, no. So when I stopped buying them dinners and stuff like that, are they gonna show up, no they’re not true friends. Then I learned, later on, it’s they’re not true friends. But I was, it had the illusion of, well it’s great, I got a bunch of people and it feels good, and this and that, but it was stupid, very stupid. So you know with internet marketing, that’s how I made most of my money, so what I want to do tonight, is share, maybe two key lessons. That I’ve learned throughout the way.

During that process and before and after, and hopefully, you don’t have to make the same mistake that I made and you don’t. And you can take from it, and you can apply anywhere you want, whatever state you’re in right now. How many of you would be interested, yes?  Yes. So here’s another exercise, so what I want you to do, just to yourself. I want you to write down your total annual income, just from the last year 2014. And this is personal. Whatever the number is write down your total annual income.

According to me or according to income tax. No sometimes, last time when I did this, there was an accountant, well is it pre-tax, after-tax. Just how much you made last year, keep it simple. Put up your hand if you have that number, okay. Give you a couple more minutes, how many have no idea what that number is? Okay good, good, guess that would not be a good sign, well actually it might be a good sign. Because either you don’t make enough money you don’t want to look at it, or you make so much money you don’t even care. So who knows. So write down your totally annual income.

Now step two I’m gonna get into in just a sec. I want you to categorize your source of income, but before getting into that, let me talk about the different types of income. So there are basically four types of income, how many types? Four. Four types. The first type is what I call linear income, now what is linear income, linear income means you do a little bit of work, you get paid, you do a buck worth of work, you get a buck, you’re trading hours for dollars. Linear income.

So you could be, you make a sale, you get a buck, you do a deal, you make a buck, linear income, or a job, a the end of the of month paycheck, linear income. So with linear income, it’s what I consider most of the time it’s bad income, but that’s what most people know how to. And so these are just some examples of different types of income, I mean I could give you way more example but it would be very very long, but you’ll get an idea. So an example is salary, overtime, commission, consulting fees, professional services, those is what I consider linear income.


Meaning of linear, leverage, passive and windfall income

What kind of income? – Linear. Linear income, okay linear income. And then you have what I call leveraged income. What kind of income? Leveraged. Leveraged income means you are now leveraging, O.P. other people, other people’s time, other people’s talents, other people’s resources, other people. So with the leveraged income, we’re talking strategic alliances, subcontractors, goodwill and client contracts, or maybe salary staff or sell space network marketing.

Different types of leveraged income, but you’re leveraging other people. So now you’ve got a little team, maybe you have a little system in place. You’re no longer just relying on yourself, okay, leveraged income. And then you have passive income, an example would be let’s say commission staff or buying base network marketing, or renewals, or interest income, or dividend income and so on. So passive income. And then you have what I call windfall income, what is it? Windfall. Windfall income. so windfall it’s an appreciation of stocks, appreciation of real estate, appreciation of RSP. You know the inheritance, lottery, large bonus, selling a business, that type of, so windfall, a windfall income.

So the four types of income. So you have your numbers example would be, so let’s say last year you made let’s say a 100 grand okay. And let’s say you would categorize it. Let’s say you had it’s eighty percent of that, so 80 grand is let’s say it’s linear right, and then let’s say you have ten percent leverage. And let’s say yes zero percent passive, and you have ten percent windfall. How many following this so far yes? Yes. So I want you to categorize your income, I’m gonna and give you let’s say a minute to do that just take a minute to categorize your income for now.

Okay now next what I want you to do is this, I want you to draw a chart kind of like this, Linear, leverage, passive and windfall. So I want you to draw a chart, so for example, use the example again. Let’s say we use 80%, so we would look something like this, and then you have 10% here right, no passive and that’s what it looks. Now I want you to draw a graph like that, and you can see the pattern. So take a moment and do that. So linear, leverage, passive and windfall. So according to your percentage. What have you learned so far, tell me?

Looking in your photo, looking at your chart, what have you learned so far, yell the answer. I’m working way too hard.  Working way too hard, good. Linear.  It’s all. Too much linear. Too much linear, okay yes. It’s a dead end. It’s a dead-end good, it’s a good thing, it’s not a bad thing, yes. To shift, I need to shift.  You need to shift, good okay, anything else, good. So with myself, I have very little linear, very like maybe a few percent there. I have a lot of leverage, a lot of passive income from time to time.

A little bit of windfall. So that’s the cash flow pattern that I have right now, took me a number of years to get there, but that’s what I have now. Now by the way, how many recognize that looks awfully similar to my book. Now, Hmmm.  Hmmm, hmmm, now what does that mean? It means when you get to this cash flow pattern, then you can say FU to people, to people you don’t like. Or things you don’t want to do. That’s called hidden message okay, okay, a hidden message. So let me share with you, the three myths that I believe are blocking you from earning the massive passive income that you want there are three myths. Now what are myths, by the way, tell me, what are myths, things that people believe in, that may not be true yes, okay.

So the first myth is this, the first myth is financial freedom. The first myth is financial freedom. What Dan, what, what, what do you mean? Yes, the first myth is financial freedom. Let me go back to my story. So I was making a lot of money. And I set a goal to myself that at the time I was gonna retire at the age of 30. I actually accomplished that by the age of 27, so I retired, became a millionaire. Not only millionaire status but also had massive passive income coming in, don’t have to work I said that’s it. I’m done not gonna work another day in my life, so I’m gonna do what most people do right.

And by the way, the financial freedom, how many of you have read Rich Dad, Poor Dad? Yeah okay, and what’s the definition. Does the book talk about financial freedom occurs when your passive income exceeds your expense, how many of you have heard that before? Yeah okay, and nothing wrong with that, I mean I like Robert and everything he talks about, here’s the problem. Here’s the problem, when I got to the point where I don’t have to work at a time, and it’s kind of like this right.

When your passive income, exceeds your expense that’s the graph and that’s the picture. I have in my mind, and I did it, and I did it, so I went to English Bay, and I said to myself, this is cool, this is nice. Looking at the beach, and looking at the wave, and holding my fruit punch and just drinking it. I was like this is nice, this is nice, the second day I go back there, this is nice. The third day you go back there, and after four or five fruit punch, like okay after 30 days of that, I was bored out of my mind. And I thought wow this is crazy and that’s taught me a lesson, that most people they say they want to get to a point where they are financially free so they don’t have to work, they want to retire.


Skills that allow to bring value to the marketplace in exchange of money

Today I wanna share with you exactly how I retired at the age of 27. How I did it, and maybe how you could do it as well. You see, I started very early at a young age. The path of business. I started my first business when I was in high school, just with a couple of buddies mowing lawns for people in our neighborhoods. That’s my very first business. There are three things that I did during this time that allows me to retire young and retire rich. So the very first thing is this: I focus on developing what I call high-income skills, my high-income skills.

Skills that allow me to bring value to the marketplace in exchange for money. Now I define high-income skills as skills that could make me $10,000 or more per month. You see, the first five years of my business career, when I was getting started. In the first five years, I didn’t take a single day off. I was working 12 to 14 hours a day seven days a week for the first five years. While all my friends, were out there drinking. Drinking and having parties and chasing girls. I was fucking working. I sacrificed, I made a lot of sacrifices. I believe if you don’t sacrifice for your dream, then your dream becomes your sacrifice. So I might the decision, I paid the price early on. I spent a few years of my life working on myself, working on my business.

Doing the things that most people are too lazy to do, not willing to do. So I could have what most people cannot have. The very first high-income skill that I developed was copywriting. Now you might wonder what that is. Well, it’s simply the skill to use words to sell, that’s it. Print persuasion, or persuasion in print. And I was running a one-man advertising agency myself. If you watch the T.V. show “Mad Men”, that’s kind of what I was doing, without all this smoking and all that bullshit. But I was basically a marketing guy in my early 20’s.

Working with companies, working with businessmen. And I was making 10,000 a month, $12,000 a month, in my early 20’s. And at that time it was like, I felt like a million bucks. I thought it was the most money I’ve ever seen. And I did that, then, later on, I took that money, the income that I earned. I put that aside, and I started quote-unquote, “A scalable business”. Now if you want to retire early, and retire young, one of the most important things that you have to know is noticing and identifying trends. At the time, I went onto the internet. I saw this trend on the internet. We’re talking about back then, remember Netscape, dial-up modem. I’m talking about Overture for pay-per-click, you know good old days.

You, watching this young guy, you may or may not even know this. But I’m talking about Yahoo! for search engines, okay? Facebook and then later on Google. But I’m talking about that’s when I got started. Back then, early, and I noticed a trend on the internet. And I was importing collectibles from Hong Kong, Bruce Lee collectibles, actually. And I was flipping them on eBay, I was doing marketing, I was doing digital marketing online, I was selling digital products. Before PDF, before all these things were even popular. Software, all these things, and that’s how my first bucket of money. Then I took that money, and I sold some of those businesses so I cash out, and I took that money and I invest in real estate.

Then my investments are able to support my lifestyle. And that’s how I retired at the age of 27. But here’s one thing I’ve learned through that experience: at the age of 27, I thought this was my dream. I thought, “I wanna get to a point where I don’t “have to work anymore, I’ll sit on the beach all day and that is going to be it.” And I did that, the first month. The first 30 days, I was sitting on a beach on English Bay, just sitting there every single day, right? Looking at the beach, looking at the ocean, I thought, “I have made it.” You know what? All I got was sun-burnt. That’s it. You may dream of sitting on a beach every day. I’m telling you, when you could do it, I was bored out of my mind.

I thought, “This is fucking stupid. “I worked so hard to get here, “and now I’m sitting on a beach doing nothing. “This is dumb, like did I work this hard “and make all that sacrifices for this?! “Like come on.” ‘Cause you gotta understand, when you’re businessmen. I was going like this every day, go, go, go, go, go. Suddenly when you have nothing to do, when you cash out, when you have investments, you’re like. “Okay, I guess, what else do you do?” Right?

After 30 days of that I was sick and tired of it. I’m like, “This the dumbest thing ever.” So the second month, I did something different. I actually thought, “You know what, “I’m gonna watch some movies.” So at the time, I rented a lot of movies, a lot. I was watching six, seven movies, the DVDs. Stack of them, every single day. Let me tell you something: I love movies, don’t get me wrong. But when you’re watching six, seven movies every fucking day, you don’t like movies so much anymore, believe me, okay? After 30 days of that, I’m like, “This is again, the dumbest thing ever.” I just felt like, so lazy, I felt like I wasn’t doing anything with my life.

Then I went to talk to my mentor, and he said, “Okay Dan, here’s what I want you to do. “I want you to start another business.” I said, “No! No! I’m not gonna start another business, “I was killing myself all these years so I could retire, “you don’t understand, I’m not gonna work!” He said, “No, you’re gonna start another business.” I said, “No! I am not gonna start another business.” He said, “You’re gonna start another business.” I said, “No.”

But this time he said, “You’re gonna start a business, “from a totally different place. “Because now you made it. “You could start your business coming “from a place of strength. Coming from a place of more, “coming from a place of something that you want. “What do you want to create? “Build it around your strength, “build it around your passion, “’cause now money’s not an issue. “You’re not just doing to make money. “What could you do? “How could you use all the skills “that you’ve accumulated, you’ve developed, “all the business acumen, all the knowledge “that you have, how can you use “that to build something great?” And I thought, “That, I could do.”

So that’s my story. That’s how I retired at the age of 27. I don’t know where you’re at in your journey. Maybe you want to retire young, maybe you want to retire at the age of 45, 55, 65. I don’t know where you’re at. But what I do know is, is it’s possible. And what I also do know is once you get there, there’s always another step. There’s always another level. So don’t wait, don’t feel like you have to get to a point where, “Hey you know what, “I’m gonna spend my whole life doing stuff “that I hate, so I could get to a point “where finally, I could do some stuff that I love.” No, enjoy the journey, success is a journey, not a destination.


What the money will follow and what you love

I get so many requests from you from people all around the world asking me to mentor them. And I know that I’m not very accessible and I purposefully make it that way. Because just for my own insanity because of my social media and because I have so many people study my work that at the end of the day. Even with my team, I’m still only one man. I only have 24 hours a day so I cannot possibly mentor everyone. And reply to every single comment otherwise I would have no life but this is the way that I could mentor you where you ride along with me. I answer your question and then so that other people can benefit from that as well.

That’s why I created this YouTube channel for you. But people want to learn from me. This is a way for me to virtually good you that I can also deliver more value and create more impact to more people 24/7. So if you want to learn from me, make sure you comment below. Make sure you just watch all my videos. You will learn a lot from it. Today I want to talk about one of the myths that drive me crazy is do what you love and the money will follow. Bullshit. I don’t know who came up with that concept about like the secret to success is do what you love and the money will follow. It’s one of the most ridiculous ones of the dumbest things.

I’ve ever heard because let me ask you a question. Are you doing what you love and you wonder where the fuck is the money? Or do you know people, they are doing what they love and yet they are struggling financially? I rest my case. That dog doesn’t hurt. Do what you love and the money will follow is like saying, you know what, eat whatever the hell you want and you’ll lose weight. Or sleep with every single person that you meet and you’ll have a great marriage. It’s as stupid as that sounds. It’s not about that, it’s not like you love it and then you’ll do well. It’s nothing to do with that.

When it comes to business success, which is what I know when it comes to business. It’s not about doing what you love and money will follow. Now it helps if you actually enjoy what you do because you do more of it, you get better. It’s not you do what you love, it’s you do what it takes. You do what it takes to be successful. I’ll give you a simple image. Let’s say if you want to lose weight. You go to the gym and you get up in the morning. And you do cardio and you go running for a few miles and you watch out for your diet. You don’t like any of that shit. You do not love it. You do not love going to the gym, pumping those weights, not eating the food that you want. You don’t love any aspect of that, okay?

You want to eat that fucking burger, alright? You want to eat that steak. But like, you want to drink that beer. But ah, fuck man, no I’m I have to. You don’t love any of it, but if you do what it takes and you are going to the gym. You got up every morning and you just you showing up every fucking day consistently over a long period of time. You do what it takes, guess what, you get a result. No difference in business. You’re doing what it takes. It helps if you love what you do, not do what you love, you love what you do. Because here’s the thing about business.

The business world doesn’t give a fuck. The world doesn’t give a fuck. You do what you love, you do not do what you love, they don’t give a fuck. They only care what value you’re providing me as a consumer, as a customer in exchange for my money. Do you understand my needs? Are you solving a problem for me? Are you fulfilling a need for me? If you can do that and I trust you, then I will give you money. That is it. It has nothing to do with that. It has nothing to do with what you love. You do whatever it takes, and if you love the process there are things I could tell you in my business that I do. I do not love them. I do not love them.

When I have to craft a marketing campaign, when I have to deal with people when I have to hire a new person, right? You know one of my friends talks about it jokes about it. You know, the business would be a lot easier if you don’t have to deal with customers and employees. Right, with no customers and no employees it would be a lot easier. Wow, I wish that was the case, but that’s not the case, right? It is like that. There are a lot of things within my business that I do not love. But I need to do them in order to grow the business, in order to sustain the business. I have to do what it takes, right?

Do you think like- I enjoy this. I turn on the camera, answer questions, I enjoy this. I don’t enjoy the work, I don’t enjoy getting all the camera equipment, right. I don’t enjoy, you know, looking over the music and all of that stuff. I don’t enjoy any of that shit. I enjoy just turn on the camera, we talk, I enjoy that part. But the other aspects of what I do that I do not love. But I cannot do what I love without those things. Everyone wants the glory, nobody wants to work for it, right? You want to have the glory, you want a follower if you want to impact people. You want to share your message with the world. You got to do the fucking work.

There are some days, you know, I don’t feel like making a video. I have those days, believe me. But because I commit myself to make a video every day, I am here, right? I show up with- to the best of my ability and I commit. That’s what it takes. You’ve got to do what it takes, it’s not doing what you love, it’s doing whatever the fuck it takes until you get there. That’s the formula for success. So, comment below if you’re getting this if this is making sense to you.

Make sure you hit the subscribe button below and check out my other videos as Boss in the Bentley. So don’t get, don’t believe, don’t buy into that bullshit and that will save you so much time. Forget all your I’m going to find my passion, fuck that passion, do whatever it takes. What if it takes you 20 years to find your quote in quote passion and yet that thing doesn’t work. And that thing doesn’t make you money and that thing doesn’t make you successful. Now fucking what? What are you going to do? Have another ten years, find the next thing that you love. It doesn’t make sense. It does not make sense so just don’t buy into that, okay? Until next time, Boss in the Bentley.


Passive income doesn’t mean it’s permanent.

What I’ve learned is this, most people actually don’t want to retire. They just want to be able to do what retired people do. They still want to get, they want to go on vacation, they want to buy the things they want to buy, they want to provide them for their family. But most people don’t actually want to do anything. And staying at home not feeling alive, and I did that so I was gonna after the 30s. This is nuts I can’t do this, this is. I worked so hard to get to this point when I got here. Looking was looking at the beach, I’m like, this is not what I signed up for, this is not what I wanted, this is not how life is supposed to be. So I went into a different path, I said well you know what, I love movies.

How many of you love movies? I love movies, so let’s instead of doing that, let’s watch some movies at home. Why don’t we do that, okay? So I was renting all these movies, DVDs at a time. And I was watching, five, six movies a day. Let me tell you something, when you watch, five-six movies a day. You don’t like movies so much unless you’re a movie reviewer or something but that’s not good either. After 30 days of that, I called up my mentor, and he was just laughing on the other end. I said “I don’t get it, like what should I do. I feel, how come this is my goal, and I got here, and how come I’m so depressed.

How come I’m so empty I don’t understand, he was just laughing on the other end. He said, “well you know what, “I was expecting three months, “you couldn’t even last two months.” I said, “what do you mean?” Well ’cause you’re a businessman. You are a creator, that’s what businessmen are, you create stuff, you use your creativity to create value in the marketplace. And now you’re sitting at home you’re going to the beach, you’re watching movies. It’s not creating anything, you feel, you’re so dead, you feel so dead, it’s just not the way to go. I said “You don’t understand, I’m done. “Like I’m not gonna do anything, “I’m not gonna start another thing, nothing. He said, “You have to.”

He said you have to because now, right now you’re not happy. He said, “Are you happy now?” I said, “No I feel miserable.” He said, “That’s not good.” “So go back to business”, but he said this time, “You start a business “from a different place.” Because I’ve made my money, now I can start from a place of well you know what. I can do stuff that I want to do, I think getting involved with projects I want to get involved with.

I can work with the people I want to work with. Because before it was just, money, money, money and I want to make the money I want to be done. I want to retire, got there now, okay. Now I can just do it for the sake of doing it, I could do stuff, I could show up and speak if I want to. I can not show up and speak if I don’t want to.

Nobody can point a gun to my head and ask me to do anything if I don’t want to do it. I’m here because I want to be here. If I don’t want to be here, I’m not here. So I can do whatever I want, so you know I said. You know to spend a couple of days with me and just writing down in my private journal. You know Dan if you could do anything, what would you want to do. So I write down all this stuff that, what would it look like and what my business would look like. What my life would look like and I mapped out everything, mapped out everything. So then before going into that, let me tell you another story. I have trained a number of young guys.

And I helped them, you know young guys and you know set up the ebooks, and sell stuff online digital products. And their goal was to make three, four grand a month. Then just go to Thailand and live their life, and I’ve helped a number of young guys to do that. And once I help them accomplish that, and I called them up and sometimes see how they’re doing, guess what, none of them are happy, none of them. In fact they’re all totally lost. They’re in the early 20s, they don’t have to work, they’re in Thailand. I mean they’re drinking, they’re partying, they all thing doing all this shit, and partially I feel I’m responsible for that as well. Because I taught them the profit path, but I never gave them the purpose path.

I just said hey you know, they just, hey you want to make enough money to be free. I’ll teach you to do that and that’s it, and you do your thing. And now they all lost, and so I feel like I gotta bring them back. That’s a lesson that I’ve learned that with passive income. listen to this, just because it’s passive, write this down, doesn’t mean it’s permanent, just because it’s passive doesn’t mean it’s permanent. it does not mean it’s permanent, because I’ve had this experience when I had these multiple 20, 30 sites selling these ebooks through Clickbank. I was using pay-per-click and I was, could be one ebook making 500 bucks a month in passive income.

The other book could be making 3,000 a month in passive income. Then I hold 20, 30 of these sites, and I was making good money, and suddenly in Google. The AdWords, the cost, everything changed, so my profit went from this, to this, it was very passive for a period of time. But then my just my expenses kept getting more and more and my profit keeps getting like this.

So then I learned well just because it’s passive, doesn’t mean it lasts forever, it does not mean it’s permanent. So people might think have this picture, well if I make enough passive income. Then I don’t have to work, I can retire, and I can just, don’t have to spend any time to maintain it and leave it as it is. It does not work that way, it does not work that way, that’s not how it works. You do need to spend the time to maintain it.


Aim for financial confidence, because financial freedom is an illusion

Let me tell you a story, a friend of mine. He was in my mastermind group and his name is Ryan. Ryan when I met him through mastermind. The number of years ago, he was making a million dollars a year, through Google AdSense. He calls himself the Search Engine Spammer. He would set up these sites, he would spam the search engine, spam google basically. And he would set up these pages and get money from AdSense. Show me the check, he’s doing 100 grand, 90 grand a month from Adsense. Multiple checks, he thought he was the smartest guy in the world, and he was pretty smart.

Then, of course, Google you know slap and changed the algorithm and all that stuff. So he, when I met him, was making a million bucks a year. Next year I met him again, half a million, year after, a hundred grand and then zero, and then zero. And he was like I don’t get this, I said dude “Who do you think is smarter, you or Google?” You have five guys on your team, Google has how many engineers? How the hell can you possibly outsmart them, you’re lucky you made that money for a period of time. So again I can see well just because, it’s passive, doesn’t mean it’s what? Permanent.

Permanent. It does not mean it’s permanent. So here’s the truth, don’t aim for financial freedom. Aim for financial confidence, because financial freedom is an illusion. It does not exist, I can tell you right now, it’s a fantasy, it’s what those gurus or experts, and they want you to believe, that they have this. Oh yeah, you want to be free it does not exist. I can tell you right now because just because you’re free right now. It doesn’t mean you’re free two months from now or two years from now.

How do many follow what I’m saying? It doesn’t mean, but financial confidence oh totally different. Because I believe financial freedom, financial independence. All those concepts they’re outdated, I believe they’re outdated. Financial confidence is in our animal. I’m talking about knowing you have the skills and the ability, to make money anywhere and anytime you want. That’s true security. You’re not depending on Google, you’re not depending on whatever vehicle, you’re not depending on the stock market. You’re not depending on anything, you’re not depending on a thing to make you money, because who makes you money? You.

You make you money. It’s the same thing with me I tell people, take away everything I have, leave me with my brain, with my context. I can make it back, that’s true security, you can, because nobody can take that away from you. My skills in how I do business, my business. I can make money doesn’t matter. And that’s why people say that, oh you know Dan you have the Midas touch, you know whatever your industry you get into. And I make money in multiple industries, totally unrelated industries, and oh this is so great. I always say to them, you know you should have seen me ten years ago when everything I touch turns to shit.

Now I say oh everything you touch turns to gold because now I have to skills. It’s who I am today, then I get into the business. Then I can make money, does that make sense? so it’s a myth. Financial confidence. So aim for financial confidence, don’t aim for financial freedom. That’s number one. Myth number two is passive income. Now I can see you’re really shocked. So passive income and I checked this out on Wikipedia. What does it mean? So passive income is an income received on a regular basis with little effort required to maintain it. That’s from internet, from Wikipedia.

Passive income. I don’t understand Dan what do you mean? I’m here for passive income And you tell me it’s a myth. Now you really fucked up my mind. What is going on? What is going on? Let me tell you what passive income is not. Passive income, generating passive income is not easy and it takes a lot of hard work because when people associate, oh passive income it means effortless. It means it’s easy, it means it’s quick. You know what I read Rich Dad, Poor Dad three months ago and now how come three months later I’m not financially free? It’s the wrong expectation.

Just because it’s passive doesn’t mean it’s permanent, just because it’s passive doesn’t mean it’s easy. Now, why is it not easy? Why do most people only know how to create linear income and not passive income? Tell me, tell me why? Because it’s easier. Change. – Because it’s easier yes and you get it in 30 days or a short period of time. Yes? It takes a lot of pressure. Change doesn’t want to change. Yes? Long time to build.  It takes a long time to build yes but why, so people know that but why are people struggling to create they know I kind of want passive but you look at their chart almost all the income comes from linear but why is that? What’s causing that? For security. – Security.

It takes a lot of time for a person to build. – Takes a lot yes but, No confidence. No content but think about this. Taught over time.  Yes! George, great answer. Because in school, which income we are taught to generate? Linear. Linear, from a very young age yes? What about parents? Same yup. Same thing. When you go to school is there a class called passive income 101?

If there’s one I mean I would have taken it. Or get a good job. Yes, so it is what we’re taught so we are not equipped with the skills to generate other forms of income. We just don’t know-how and people kind of get into it. They kind of make mistakes, they kind of learn it through school how not but it’s not in the school system. Now, why is it not in the school system by the way? Linear thinking.

Why is it on the school system? Because the teachers are linear? Yeah, the teachers are linear so they cannot teach you how to generate passive but think about it for school. School is designed to create what? Jobs. Slaves. -Jobs, employees. So who controls the school anyway? Socialists.Government.  Yeah, socialists, government, corporations right? If you study history, it’s actually a whole bunch of big corporations one day they get together. And say “you know what we need some more workers. “we don’t have enough workers “let’s create a system so we’ll never want our workers.” And that’s how the school system was born if you study history.

So if you think about it in the school system. We were not taught how to do that and that’s why people have challenges doing that. And for them to think well you know what I got to get pay. I got to do the thing and in 30 days and I get my paycheck and that’s it. So it doesn’t mean it’s easy and also generating passive does not happen overnight. So I want to adjust your expectations, adjust you are what? Expectation. Knowing that’s what you’re getting into. So then you won’t be, how come I tried this, in 30 days I’m not making the passive income, I fail! You haven’t failed! It’s the way it’s supposed to be! It takes fucking time! It does.

It takes, now how long does it take? A long time. A long fucking time!  Seriously. So also passive doesn’t mean it’s effortless. If anything it’s the opposite. Passive it does not mean it’s effortless and also you think in terms of this. All the people, let’s say them Forbes 400, some of the wealthiest people on the planet. The Richard Branson, Donald Trump, Bill Gates, Warren Buffett. Now when you go online can you go to YouTube And then search some of the interviews yes?


Financial freedom in the business and how to run business passively

A lot of great information. In fact, I would challenge you to go and search and watch the interviews on YouTube anyone of them. And I challenge you to see if they even used the word passive income. They don’t even use the word, it’s not even in their vocabulary and I challenge you, the most successful people on the planet, to see if they even use the word financial freedom. None of them got into the business because they want to be financially free, none of them, not one of them. They got into the business because there’s something they love to do or they see this product or whatever it might be. Whatever drives them but none of them because if their goal was financial freedom. None of them have to work.

They accomplished that many years ago. They have way more than they could spend, they don’t need to keep working. How many have read the book 4-Hour Workweek? Yeah, 4-Hour Workweek. And I know Tim, he’s a great guy, great book. I think people misunderstood what Tim was actually saying but look at any one of these guys. Anyone of them. Are any one of them working four-hour week? No. None. Are they even working four hours a day? No, they’re working long hours. Who’s the richest man in British Columbia? Patterson. Patterson is okay. If you call the Patterson office on Saturday morning, chances are Jimmy’s gonna pick it up. Jimmy, at his age, is still today the first one to go to the office and the last one to leave.

Let me give you a clue, he doesn’t need the money. But why is he keep working? Oh that’s you know all these people they’re just greedy they want more. Well, let me ask you a different question. If you are already a pretty healthy person and you want to, you’re pretty healthy. You eat well but you could eat even healthier and exercise more and get into better shape.

If you could do that, should you? Yes or no. Yes. So let’s say you already have a pretty good relationship with your spouse. You’re a pretty loving person and you give love and you help other people. So if you’re pretty loving right now but you could give more love, should you? Yes or no? Yes. So if you are already a pretty successful businessman you’re making good money. And you could make more money now here’s a question should you? Yes or no? Yes. So it’s not about money, it’s about growth.

They are doing it because it’s what life is about its growth, it’s more. Not because they’re greedy, that’s the poor people mentality. All these people are greedy because they are not creating shit. They’re not creating value in the society but these people are doing stuff, are innovating. You can’t tell me, Warren Buffett gives away 97 percent of his wealth. How can you even criticize a guy like that? Yeah, I wanna be in line for that. Where do I sign up? Do You know what I mean? So if you think about it, so none of them think even that way. So if you want to study the best, think of they don’t even use the language they don’t think financially. It’s not that what they think about.

Now if you think okay if I want to be more successful shouldn’t you study the best yes?  Yes. Listen to what so what do they focus on? What they focus on is this, you see retirement is simply doing what you want where, you want to do it, yes or no?  Yes. For most people right? So each of the Forbes 400 is doing that, they have all retired into their jobs and companies. They’ve all retired, I have retired into my companies. I’m doing it because it’s just what I want to do. It’s not because I have to do it, I don’t have to do shit. I want to do it, I love doing it. What else am I gonna do? You can only go on so many vacations.

I take four vacations a year, that’s plenty. More than that, I’m like it’s too much. I’m happy four vacations, I’m very happy. I don’t need more than that and as a guy, I mean how many cars do you need? You can only drive one. How many houses do you need? One. Seriously I mean I live a pretty much I live a pretty modest life. I’ve got one car, I’ve got two cars actually. One house and nice carpet, that’s it. I mean I don’t have ten cars, I could buy 10 cars, I don’t have ten cars. So think about that. So why do you think passive income is a dangerous fantasy? So because you can’t stay ahead of the competition passively.

Let me ask you this question. In the business world now, business environment. Is the business environment right now more competitive today or ten years ago? Today. Today and is it getting more competitive as time goes on? Yes?  Yes. Okay so if you think about it. If you’re actually running your business passively. Your competition every day you’re thinking of how can I take you out of business? So if you run, think of this general. If this is general and says “You guys go fight the war and kill the enemy “and conquer and I’m just gonna sit back. “And relax and just passively and drink my beer.”

Now are you gonna follow that guy? No. – Yes or no? No. No if anything I’ll shoot this son of a bitch right?  You’re not gonna follow a leader like that same thing with you. Your company, if you’re passive, nobody wants to follow a passive leader. Think, what if I say to you that what I want is I want, how healthy would you be if your focus is passive health?  Not very healthy. Not very healthy. It’s because anything in life that’s worthwhile. We have to what? Work at it. You got to work at it. You got to work at it. So passive health if you want to be healthy you gotta exercise regularly. Eat well yes, have a little bit discipline yes right?

What if I say to you, well you know what honey from now on, I just want some passive sex. I’m not gonna do anything. You’re gonna do all the work I’m just gonna lie down there like a dead fish. Now let me ask you a question how passionate would your relationship be? I won’t go to my bedroom. So passive health doesn’t work, passive sex definitely doesn’t work how would passive income work? It doesn’t make sense, it does not make sense.

How many of you are getting this? How many find it liberating actually? Good, good and you can’t maintain a loyal tribe of customers passively. You just can’t because every day, someone is trying to steal your customers. Just take market share. We have to be aggressive. And you can’t lead great teams passively period, there’s no way and here’s the biggest point of all you cannot create meaning, passion or purpose in your life passively, you just can’t.