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Financial

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.

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Financial

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?

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Financial

What’s the one thing that rich people buy that the poor and middle class don’t?

So you see it on Instagram, you see it on Facebook and sometimes you’ll see it on YouTube, that you see that rich person they have these nice watches. And they have, and they drive the Lamborghini, the Ferrari, you know, the Bentley. They stay in luxurious hotels. They have huge houses. And all these things that they buy. And that’s what people see rich people that’s what they have. But that’s not actually what got them there, right? So what do they actually buy? Rich people, one thing that they buy is, they buy assets that the poor and the middle class don’t. Now, what are assets?

I’m talking about income producing assets. Assets that appreciate. Assets that will make them money. So example, it could be a piece of real estate. It could be an apartment building. It could be a company. It could be stock. Any assets, investments that would put money in their pocket versus poor and middle class. What do they buy? They buy liabilities. If you study a little bit about what Robert Kiyosaki’s Rich Dad Poor Dad, you know that the definition of assets. It’s assets is things that put money in your pocket. And most middle class they buy liabilities, such as their home, their primary residence. That they think is asset. Which is not because the asset is supposed to make you money while you sleep.

Versus liabilities is to eat you, it takes away money from you while you sleep. And you look at poor, middle class, you look at their financial statements. Very often they have very little or no assets, zero assets and they have a lot of liabilities, their home, their car, and all that stuff. But they have very little assets. So rich people, they buy assets first. Then the assets buys our luxuries. Versus the other way around. I’ll give you a perfect example, so instead of asking yourself, saying to yourself, “Oh I can’t afford that, it’s too expensive.”

Rich people, that’s not how we think. That’s a very low level poor person mentality. “I can’t afford it.” Right? Rich people, we ask the question, not only how could I afford it. But how can I make this make me money? How can I make this make me money? So instead of thinking, let’s say for, this car, so I could have just buy this Bentley any time.

But I waited for a period of time because I set a goal and said, “OK instead of just buying “a liability. I need to buy the asset first. “So I need to buy an asset “that will throw off enough cash flow.” In my case a piece of real estate, “enough cash flow, that I know that would cover “my monthly payment of my Bentley.” Right? So instead of me just buying a Bentley which then I have to pay from myself from my own pocket.

I say, “OK let me go through a step, “let me buy the asset, that one thing. “Buy the asset first, “when the asset throws enough cash flow “that pays for my luxuries.” That pays for the car that we’re filming in. So even though when this car, I’m a change two-three years, when this car. When I no longer drive it, when I sell it, whatever it is. Guess what? I still have the asset that’s working for me. That’s the difference. We buy, rich people, we buy nice things. We buy the nicest things. The difference is we don’t want to use our own money.

We buy the assets first, we invest first, we buy the investments first, then we buy liabilities. The definition of rich people, the rich is simple. Rich people we are entrepreneurs who invest. I’ll say that again. We are the entrepreneurs who invest. Verus, even if you’re a business owner, instead of just buying stuff for your business. Make the money from your business first, right? And then you can put into investments. If you watch my world triangle videos, you know I talk about the three stages, right? If you have not watched them, click on the I button, just watch them first and you know what I’m talking about. So high income skills and then on top of your scalable business and on top of your high return investments. So rich people we are entrepreneurs who invest.

So that’s the one thing that rich people buy that the poor and middle class do not. Let me give you one more tip. There’s one thing, that we also buy, that the poor and middle class do not. And that is, rich people buy time, poor people sell time. Rich people buy time, poor people sell time. The thing about people who are struggling financially or employees they sell their time. They get paid based on their time. How many hours I get. How many hours I work, how much do I get paid per hour? Or how much do I get paid per month or bi-weekly that’s how most people think.

Rich people we don’t do that, we buy time. We buy time because time is the one thing that you can not replace. This second that you’re watching my video, that second is gone. That minute you’re watching this video, that minute’s gone. You can’t replace it, I can’t replace it. I cannot replace it. The customer is replaceable. Money is replaceable. Time is not. I cannot create, manufacture more time. Money I can always make more money. If I have the time. If I run out of time I cannot do that. That’s why time to rich people is a most valuable commodity. That’s why I fucking hate it when people waste my time. It’s worse than from me. It’s worse than stealing money from me.

Because money, I can always make it back. The minute that I waste, I cannot get it back. And if I use the time wisely, I could use it to make a lot of money. So the reason we buy time, we buy talents, we buy people that can help us, we buy people that can save us time. So that’s why the two hours that you spend you know about cleaning your home or doing all the stuff, your lawn. You know, a quick story, one time I was visiting a pretty successful CEO, the company’s probably doing $20, $30 million a year. And I visit his office and I went to his office and I couldn’t believe it.

The minute I got there he was moving the lawns in front of his office. I’m like what the fuck was that? Right? Right there it tells me, my god, this CEO does not value his time. The two hours he spent mowing the lawns, he couldn’t have found better things to do? He couldn’t have found better ways to invest his time? He couldn’t have found a better way to utilize his talents? He’s mowing the fucking lawn, seriously, right? It makes no sense. When I talk with him, I was giving him a hard time, right? So rich people, we don’t just think of return on investment.

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Financial

If you believe wealth is limited, you view it as a zero-sum game

Millionaire Mindset Wealth Principle. I’m gonna go through, I think, 15 of these. How many? 15 of these, and I’m gonna go through pretty quickly. But I’ll see how much, if you have questions, stop me, and then I’ll answer those. And just to clarify because as I’m sharing these with you. I guarantee you one thing will happen. It makes up your mind. Because it challenges your conventional wisdom. It challenges your existing beliefs. You’ll be like confused. And when you’re confused, it means what?

Yes, it’s a good thing. Confusion is good, it’s a good thing. So, wealth principle number one, think more, not shortage. Think more, repeat after me, actually. Think more, not shortage. Millionaire Mindset Wealth Principle number one. Here’s an interesting video I want to play you guys. Is the mic on? If you’ve seen it, don’t say anything. If you’ve seen it, don’t say anything, okay? Just shut the up, okay? Just right there, is it on? Okay, here we go, where’s my mouse?

We’re here live where people are doing it the old fashioned way, they’re just filling out bubbles here. I wanna turn some of these people around and ask you guys. Sir, can I ask you what your lucky numbers are?  I’m gonna pick 14, 24, two, seven, and 15. Those are your lucky numbers. Can I tell you what, do you know your chances of winning? Slim to none. Slim to none, you’re right, let me tell you, it’s one out of 292 million. What do you think about that? I knew it. – You knew it. Your numbers are lucky though, am I right? I hope so, I hope so.

Can I ask you, if you won all the money, what would you do with it? Bunch of hookers and cocaine. Okay, that’s not good, we were hoping for a different answer. That’s probably not the answer that we’re looking for. Alright. $500 million can make a huge difference in someone’s life, thank you. You know the PowerBall, right? So that billion-dollar jackpot, right? Like three people won and the guy who actually won. Is it on? Yeah, okay. Let’s see, where’s that slide? Okay, here we go.

Powerball jackpot winner dies of a cocaine overdose after partying with hookers. He won an estimated $327 million lump sum. Geez, I could’ve used that money.  It actually happened, and it’s not the same dude. Now possibly, he got the idea from that guy. It’s possible, it is possible. What he means is most people, they actually don’t know how to handle large sums of money. Like in this case, is he lucky or is he not so lucky? He’s dead. Like, dead equals not lucky. He’s dead.

So think in terms of most people don’t know how to handle it. So they don’t know how to make it, they definitely don’t know how to keep it. And also, if you actually look at statistics. Most of the people who win these lotteries and all that stuff end up broke, completely broke. Or worse, in two, three years, in two, three years. It reminds me of a story, and I’m gonna share a story. So one guy, one day he knew he won the lottery.

Millions of dollars, millions of dollars. And he knew he has the ticket and just the day before he would go claim the money. He called up every single friend and every single family and say, “Hey, can I borrow $1,000 from you?” And then they would say, “What’s it for?” “I can’t tell you, but can I just borrow $1,000 from you?” “No, are you into drugs? “What trouble have you gotten yourself into?” So he called everybody, almost nobody gave him money, okay.

The next day, he, you know, claimed the money and the whole newspaper, they eliminated a lot of inbound calls. A lot of inbound calls, okay. So they’re like, “Oh shit, I wish “I had loaned him the $1,000.” Right? What I’m saying is, yes, how do you contain. So if you actually made it yourself you will know what it takes and if you lose it, it really doesn’t matter. You can always make it again, you can always make it again. So that’s why personally I never, never, ever buy lottery. I don’t like the odds. How many of you buy lottery, be honest, it’s okay. Okay, sometimes, okay. It feels like there is no harm to buying a lottery ticket. Oh, you know you might win. Why do you buy lottery tickets? It’s weird, I actually don’t want to win.

Actually don’t want to win? That’s pretty fucked up, man, but anyway. But, yes? I want to earn it. – Yes. I buy with friends. – Buy with. Just blame the friends, right? I like that, I like that. No, but why did you buy it, seriously? I think you are really just paying for the excitement and the hope of winning. – Yeah, the hope of winning. So, it doesn’t do harm, right? Two dollars, three dollars, right, it’s okay? But what that does, see I’m so aware, and I’m very cautious of what I put into my mind. Okay, you want to be more aware. Because from my point of view is if I buy that lottery ticket, the two dollars, the three dollars. everybody has that, but what does that tell my subconscious? I need to, I need the luck to get rich.

Maybe I’m not good enough. Without the lottery ticket, without this opportunity, I’ll never make it. That’s what it means, what’s one telling myself? That’s why I don’t even dare to do that, not one bit, not one small little inner conflict. I don’t even want it. Completely eliminate, never bought one. I never bought one. And to a point now, I look at, quite frankly, 20, 30, 50 million dollars. I look at the lottery, I looked at it, that’s not a lot of money. That’s how I think, that’s not a lot of money. Is that a good belief to have? Yes. I can make it. Yeah, it’s all cash, I can make it, what’s the big deal? I don’t need a lottery ticket. Chris?

I think also it has to do with the mindset as well because of it really kind of gives a person false data as to how I’m going to achieve the money Yes.  You know, based on the extreme. Yes, you’re trying to get it by, well, try to get something for what? Nothing. That’s not based on value. It’s not based on value, I’m telling you, I’m not a person of value, so that one behavior, it equals a lot of things subconsciously. So it doesn’t feel like a big deal.

Oh, I’m just buying with my friends. Or, you know, this and that, or it’s kind of cool the excitement, whatever it is. It tells you, your subconscious mind tells yourself a lot about money, how you view money, how you view wealth, make sense? Be careful, be careful. So if you believe wealth is limited, you view it as a zero-sum game.

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Financial

What is Cash flow pattern and how to properly manage my money?

It just wasn’t true and my incoming income continued to go up but my situation never really changed. At first, when I was, I started kind of have a little bit of a break. And I was making 2,500 dollars a month as a copywriter. I pray to the universe, and say, you know, please, please, just let me double my income. Let me get up to 5,000. I will never ask for anything else. Just get me up to 5,000. I’m happy, my mom, I’m picking up my mom. I’m good. I can no longer have to buy, you know, those expired groceries. I can buy some real groceries and I get to 5,000, what happens? You want more.

Then I’m praying again, please, please, like, universe, just let me, just double that one more time. 10,000 a month, yes, 10,000, I will never ask for anything again. I hit the 10,000 and you found ways to spend money. A better car, better stuff and then you get 10,000. Of course, same room I pray again cause it kind of worked. Somehow, please, whatever I was doing it’s kind of working. Since I was spending so much. Please just let me double that one more, just, I’m not greedy, just one more time. I will not swear anything again ever. Let me double down. 20K, that’s all I need. You get to 20K, you find ways to spend it. Same room.

Hi. Yes, it’s me again.  It’s me again and that did not work. That did not work. So, the only difference was when I was younger and earning less, the behavior was the same. But when I was earning less, now I have a lot more debt and a lot more stuff. A lot more toys, a lot more stuff that I could spend but kind of the same. If you look at my financial statement, it’s the same. Doesn’t matter I was making, you know, 2,500 dollar a month. And now 25,000 a month, my cash flow pattern.

What is it? Cash flow pattern. It’s the same, it’s a poor person’s cash flow pattern. It doesn’t matter how much I make, I just spend it. How many of you can find ways to spend money? Quite easily, yes? You notice, when you have when you were just getting started in your career. What you want and what you need, it’s like, well, this is how much I want. Actually, how many of you have done that, like. Hey, you know what, this is all I need. Just let me double that, it will be nothing. How many of you have done that before? Is it the same room? Same prayer? Right? So, I was getting a new car.

Now, this was, back then I had my Mazda sports car and you can see my oversized suit. My fucking glasses, my spiky hair. Back then I was younger. So I was getting, I was getting a new car every year, right, and I got the Audi R. That was nice and all that stuff. I mean, would go out to dinner with my friends and we would drop, like, 3K, three grand a nigh. And I don’t even do drink. I do not drink and we drop three grand. How, I have no clue. I don’t even know what they eat and what they drink. I have no clue. So, we’re spending this money stupid. It was very, very stupid. So, why spending money feels good and this is the psychology of it.

I think because it’s just my logic. Kind of what I came up with. I believe when you are poor, you’re surrounded by things that you think you would like to own. Oh, the nice car, the nice house, the vacation or those things that I want to buy. But cannot afford to buy. After a while, you associate the feeling of unsatisfied desire with poverty. So, when desiring begins to feel poor, having things seems like they will make you feel rich. I’ll say again. When desiring begins to feel poor, having seems, like it will make you feel rich. So, I was feeling unsatisfied and I thought about buying the next car, buying the next thing would make me happy.

Now, how many you have had this experience? Maybe, even guys, like, you have this dream car or whatever you want to buy. Whatever thing, it doesn’t have to be car, but it’s a big purchase, okay? That you really want to get and you work your ass off and you get it. And the happiness lasts for, about what, how long? Hm? Couple months, maybe a few days, maybe a few months. In some cases maybe a few hours, who knows, whatever the thing is. Then, guess what, then we look for the next thing, right? I’ve done that, I’ve done that.

Nothing wrong with that and I tell all my young friends. Even I tell them “don’t go buy the sports car,” they’ll still fuck do it. I know that cause they need to get that out of their system. They need to, you know, yeah, I said don’t. Don’t buy the Maserati. It’s, really, it’s not necessary. Yeah, yeah Dan, I know, I agree with you but let me buy it, let me learn it myself, right? Then I’ll drive something, something else. They all have to go through that. Nothing wrong with that. I’ve gone through that. I learned it very, very quickly. I still like nice things, don’t get me wrong and I’ll share with you how you can have nice things. And still, have the freedom that you want. So, realize that just making more money was not the answer.

Making more money was not what? Was not the answer. So I had to learn how to properly manage my money. Whatever money that comes in. And I had to learn how to acquire and create assets that would create wealth. There’s a very big difference between making money and creating wealth. Some of you are very good at making money. Also good at creating wealth. They’re two very, very different things. Just because you know how to make money doesn’t mean you know how to create wealth.

They’re two very, very different things. From that point on, I made it my mission to locate and study all the information I could find on the subject of money. Making it, keeping it, growing it, multiplying it. How do you do that? And through the effort, trial and error, a lot of blood, sweat, and tears. I now have developed a set of principles and guidelines which is what I’m gonna share with you today, okay? Does that sound good? Yes! -Yeah, which is what I’m gunna share with you today.

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Financial

Investing in yourself is the best thing that you can do

You never see the guy, oh, that guy just lost a 100 million dollars. He’s not on the cover of Inc. So you see one guy that made it. You don’t see the 10,000 that died. I’m saying, most people die, but it’s not very entertaining to talk about it, right? Yes? I think Elon Musk’s story is really interesting. He built this company, sold it for millions of dollars, had a vision, started two companies. Almost lost, or he lost all his money and he was in debt and then he barely. He was close, days form bankruptcy, right?  Yeah. But he raised the money. Got together and he’s one of the smartest people on the planet. Yeah, and now he’s sold like a tech. He’s like the next Tea shop. No, Elon Musk. He’s got the Tesla. Do you know that Tesla?

You don’t have a TV? It’s not a bad thing. It’s not a bad thing. So does that make sense? Yes?  Okay. Let’s keep going.  Warren Buffet said investing in yourself is the best thing that you can do. anything that improves your own talents. Nobody can tax it or take it away from you. You can run up a huge profit and the dollar can become worth far less. You can have all kinds of things happen. But if you’ve got talent, yourself, maximize is a keyword. Maximize your talent, you’ve got a tremendous asset that can return 10 fold. That’s from Buffet. That is from Buffet. That’s why I never, never, over the years, stop improving my high income skills.

It was six-figure and then seven figures. I don’t matter how good my business is doing. How great, my investments are doing, I’m saying, no, I’ve got to work on my skills. Because I don’t know, I don’t know what is going to happen. Yes? What is the next skill you are developing? The next skill I am developing? Okay, very good question. So, I’ll take you through my career, because it gives you a clear picture. The very first high income skill that I developed is copywriting. Which is how to write ads. How to put words in print to sell. And from copywriting I noticed I wasn’t getting client because nobody was buying and I was trying to get the client. So I learned sales, how to sell on the phone. From sales, then I learned how to do marketing.

I was doing marketing with people. And from marketing, copywriting is you’re working with clients. I noticed they don’t just want you to write, craft the words or headline. They kind of need some marketing strategy. Well, how I’m gonna use this stuff? So, evolve, transitioning into marketing, consulting, coaching type of work. From there I evolve into speaking. As you’re asking, well, how do you do some of these things? As a speaker you get paid and that platform is selling. Which is very different. It’s selling from platform, you’re making money, right? From there I also transition into deal-making. Which is kind of what you do now, joint venture and deal-making?

Brokering So these skills I have developed, honed, and still honing over the years. And then managing my money and then investing as well, right? So, you see, over the years, I have this treasure chest. all these tools on my tool belt, that I can call on anytime and I can do it. I can make money with it. Does that make sense? At first you might just have one, but eventually you might have more than one, you might have two or three. That’s a whole bunch, and then you might merge them together. That’s a possibility as well. So I never stop, I never, never stop. Makes sense?

Okay, let’s keep going, So most common investing questions I get. Dan, I got 10K, what should I invest in? I already answered that. Dan, what do you invest in? It doesn’t matter. Because it all depends on what I invest in. Doesn’t mean what you should invest in. If I invest in oil and gold does it mean you should invest in oil and gold? Hell no. It all depends on where you are at the wealth triangle, right? So get a high-income skill, invest in yourself, get training, upper your skills. Should I pay off my debt first or should I invest first? I’m gonna get to that. Should I pay off my debt first or should I invest first? It’s an interesting cartoon. Sure, two percent may not seem like a lot, but it’s compound.

If you invest a thousand dollars now. In just 10 short years, you have, let’s see, $1219. Okay, so compound interest isn’t some magical force. Yeah, I’m just gonna try to make more money. So as you improve your skill sets, you have more income coming in. You can scale your business faster or maybe just put more money into investments. Put more money into investment Conventional wisdom teaches you how to get rich on your current income. Here’s what I believe and I’ll show you the numbers. If you can boost your income to 120,000 a year, 10K a month, you should be able to create million-dollar net worth. Not counting your house or car, in seven to 15 years, assuming you keep your expenses in check.

Keyword, assuming you keep your expenses in check. So you can get to that 10K a month. Even you don’t never, ever, ever have a scalable business. If you keep your expenses in check, you can get to that million-dollar net worth in seven to 15 years. It depends on what you do. Yes? Okay. Hi, this is Dan Lok. Welcome to Dan Lok TV. I want you to subscribe to my YouTube channel.

Now you might ask, why should I? Every week, I’ll post two new videos, all focusing on helping you become a better person. You will be challenged and you will be inspired and you will be motivated. More importantly, you’ll get practical ideas and strategies that will take your business to the next level. So go ahead, hit the subscribe button and turn on the notification so you don’t miss out on a single episode. I promise you, you won’t regret it.

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Financial

If you’re at the stage of high-income skills, what should you invest in?

You know my bill is taken care of. It’s okay, I’ve got money. Now I can have my business, probably investing all your profit back into the business. See, some people only have a scalable business, they want it to grow. But they also need to eat. So they take the profit out. Pays for the day today, and that slows the growth down. Their not growing as fast as they want, versus my income skills, are how I’m making money. My business, just let it run. Let it grow. Makes sense? So, it very much depends on it. So people ask me, well Dan, what should I invest in? It’s very simple. If you’re at the stage of high-income skills, what should you invest in? Yourself.

You better be fuck that 10% shit, you better be investing 30-40% of your money into upgrading your skills. Maybe, it depends on what you need, maybe it’s personal development. Get your head secure on straight, right? Let’s fix that. What another mindset, what limiting belief, maybe you need to go through that. Go to Tony Robbins, go through that shit, right? Walk on fire, go through that shit. I went through that shit, it’s okay. Once you get through that shit, you have the mindset, and now you know what, I need some skills.

Let me read that book, let me hire the coach, let me go to that workshop, let me do whatever it takes to upgrade my skills. Work on that, a lot. Now when you have a scalable business. When you have a scalable business, what should you invest in? Team, what if you have a business. I can tell you. Very simple. The highest return you get from your business is when you invest in marketing. The best return you’ll get is marketing. What kind of investment you could put in a dollar and if you have a scalable business and it’s converting and it’s working well. Can you come up with two, three, five dollars? Just 2-300% return? It’s criminal in the stock market, but in this business it is common.

You spend a little bit of money, maybe even $500 in marketing you get a 10 grand sale. Is it possible? Yes. It’s that kind of return. So why would you put it into some mutual fund, that getting eight percent? It makes no sense. And who has more control? Do you have more control over your business or some mutual fund? So it very simple, if you have a scalable business state, but most of your money, take your profit, put it into your business. Marketing, hiring better people, teams. Just grow the shit out of it. Just grow. Let it grow, let it rise and at the same time, work on yourself, your skills. That’s why people come to me and say, Oh, I’ve got 10 grand to invest in. What should I do? I say go to a fucking seminar.

Improve your skills. It’s the fact that you’re asking that you don’t know what to do with the 10 grand. Tells me you don’t know what to invest in. And you probably don’t have high income skills. It’s the worst thing you want to do is, oh, I’ll buy this stock. Or it’s not about that. I’m not here to give a stock tip or buy that or what. It doesn’t matter. I’ll go through the level of investors. It’s those investors that don’t know what they’re doing that’s why they jump from one thing to another. Here their doing day trading and they’re doing something else. Yes, Nathan? I know, I’m in 90%. I lost all my money. I know. I think it’s like 90%. Like I said, out of 10? Now even two make money.

All 10 lost money, all right? Because you could. It’s easiest when you have no skill, that growth is incredible. When you have no skill, you learn a good skill, let’s say you are. How many of you are in sales? Every fucking hand should go up. How many of you are in sales? Okay, we’re all in sales. Let’s say you’re closing 10% in one out of 10. You learn some sales techniques, you get some sales training and suddenly you’re closing two out of ten. You sell 10%, you close 20%. You just doubled your income. How good is that? It might take you an hour, it might take you to just watch one video. It might take you one day, who knows? But is that a good return? Yes.

You cannot get that kind of return from any other investment. That’s why you keep learning, it’s like people. I’m amazed that people will spend the money on the big TV. I love my TV, don’t get me wrong. They spend stuff on that and yet, Oh, yeah, I gotta go to this workshop. I spent a thousand bucks and oh, I don’t have the money. It’s unbelievable. Yes? Can I make a comment? – Please. So I love what you said about you can grow from high-income skills to merge your investment and still be. Because in my line of work I see, like CEOs or founders they try to build a scalable business. But they’re actually not meant to do that because they don’t have the leadership skills. And so, I really like that. It’s the first time I ever heard of it.

I always thought you had to get a business. You had to do the five-figure, six figures five-figure income or six figures and then scale it. And then you invest, you make a stair step? But not everyone is meant to be a business owner, I realize. You don’t have to be a big business owner to do well. Like what happens is, we see these people in magazines, right? And read the article and oh, that guy sold his company for 50 million dollars, that guy sold his company for 100 million dollars.

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Financial

Explain Customer perception and its importance

Customer perception helps you to know the customer’s opinion with your products and services. It is a marketing concept that tells you what customers think about your brand. What they feel about you in their direct or indirect experience. A successful businessman only knows the importance of customer perception. On the basis of this, you can improve the customer shopping experience.

The customers can collect all the information about the product and make a meaningful image in mind. This process we called customer perception. This process starts when the customer knows about the new product. And it will continue until the customer makes their opinion about that brand product.

In every business, everything is affecting customer perception. The way of keeping the product in the retail store, product advertisement, offers, discount will impact customer perception. If you understand the importance of customer perception then you will lead the business successfully.

Factors which deciding customer perception

  • Marketing communication: In business how the brand communicates with the customer is important. Communication media are different. It may be online, social media, chat or face to face.
  • Emotional connection: The popular brand product create an emotional connection with the customer. Because they know it is important for brand development.
  • Consistency of performance: brand performance also affects customer perception. It depends on how the product will works in the past and now.
  • Universal marketing: Universal marketing is a way to sell the brand and good service. A brand has to be good and satisfy the customers.

Why Customer Perception is Important?

To make a customer satisfied is the best way to deliver a great customer experience. If the customer is happy with the products and services they will give a good review. Customer perception depends on the customer experience that they had with the product. The retail store owner offers gifts and free food vouchers to the customer. They take the survey to know what customer feels about them.

Customer preception can break and make the brand. Getting the product as per description can create positive customer perception. But it will happen when the product delivered to the customer on time. Also, provide a valid receipt to them. If you provide great customer service then it will help to create positive customer opinion about the brand.

But if the customer is not happy with your products and services then it will break the brand. Ant creates a negative perception of the brand. When the company works to create a strong bond with the customer, customer perception will improve. It is a better way to stand out in the competition. It is also important to create a good image of the brand. So the companies are trying to provide good customer experience to increase the perception.

What are the factors that affect customer perception?

1. Personal experience

The customer experience with buying products and services highly affect on customer perception. So it is important that the quality, service, and color of the product make an impression on customer’s minds. It will help to build good preception.

2. Advertising

Advertising the product by using different media is also a good way to attract the customer. The customer can see the product first in the advertisement. So it is the factor that affects the perception. If you advertise your brand in a good manner definitely it will create a positive perception.

3. Influencers

Most of the customer can buy the tested product only. So the customer who bought the product and try the product called influencers. If the product is tested by the influencers then it helpful to you. When people heard about this type of product they will try to buy and test it.

4. Customer reviews

Customers can make and break the business. Most of the customers can see the customers review before buying the products. So it is also an important factor to create good customer preception. If the product has a lower number of stars means people give less review of that product. And it will create a bad impression on customers.

5. Social Media

Social media is also the best platform to manage customer perception. When customers get information about the product, they try to buy that product. The retail store owner can post their product image, video, color on social media. It helps to create good preception.

The company can measure preception by using different tools and investing time. If you know who the product brand perceives. Then you can easily improve your business in a successful way.

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Financial

Complete guide on how to choose a product on retail store

While purchasing groceries or other things the most important thing is product quality. Every customer wants a good quality product. For that, customers always choose retail stores or supermarkets for shopping. In the retail store, the retailers provide the banded and best quality retail products and services.

Retailers try to give a positive shopping experience to their customers. In the retail store, the customer can get food, clothes, fruits and all the things which are needed. Because of the increasing growth, the retailing business increases very fastly.

Retail store owners always choose the product according to customer’s needs. What products customer need again and again they will give first priority to them. There are so many short life products such as bakery or dairy products. But if you introduced the highly consumable product then this is ideal. Retailers also need to consider how to present the product while sitting on self.

There are several types of retail stores. Grocery stores, warehouses, mobile retail stores, departmental stores, online retail stores are also coming under a grocery store. In every retail store, retailers always try to make the purchase of goods very easy for their customers. Also, they can provide the facility to the customers to purchase things in different ways. To increase the sale of their product and improve customer satisfaction they try their best.

Steps to choose a product in a retail store:

While shopping customers need to know why they buy the product and why not. Always buy that product which you needed. Here are the some steps which help you to choose the correct product.

1. Start from Small and Dream Big

Mostly the retailers can buy the product from the distributors. Because it is an easy administration for them. They want to keep the only trustworthy and good quality product in a retail store. So when they add a product in the store first they see the record of achievement.

So always start shopping from small retail stores instead of Walmarts. Purchase good quality retail products and ask valid receipt of purchases to retailers. The positive record with a small store helps you to build a bond with big retailers.

2. Research Your Target Market

First, decide in which retail store you are going to buy a product. If you went to the store from where you buy the product every time then it is really good. In this way, you can make friendship with the shop owner. It will help you to get the good quality product.

If you know the retailer from first then you can ask the various questions to the owner about the product. It will help you to understand all the detail of the product. And also you will get a valid receipt from the shop owner. Always buy the branded product which gives good competition to your product. Compare the product on quality, utility, packaging based.

3. Make the Pitch in Person

Be in touch with retailers. Sometimes fix the appointment with them. When you contact them it will make a long-lasting impact. Customer need is one of the important things in every business. When you meed the retailer thinks like they are your customer. And tell them what thing makes good sell of your product.

4. Get the Margins Straight

The primary thing in every business is profit. Retailers always try to earn more profit. To earn profit they will take the survey and try to know the customer’s opinion about them. So you have to accept the beneficial aspect from a retailer’s point of view. When you pitch the product focus on how they are made out of it. How much price you are giving for the product on that profit is depend.

5. Communication with retailers

Good communication with retail store owners will help you to find the right product or service. Ask them for the best quality product. Solve your doubts by communicating with them. Build a strong relationship with the owner. So they will always provide good quality products to you.

These all are the steps you have to follow to get the best quality product in the retail store. A customer survey is the best option to know the customer’s needs. So the number of retail stores start to take the survey to increase product sales. The customer who is participating in this customer survey can get free food vouchers and gifts. To take part in the survey customers need all detail printed on your receipt.

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Financial

Keys Customer service mistakes to avoid

Customer service is one of the keys to lead your business in a successful way. It is the factor that makes or breaks your business. Because the growth of your business depends on the customer. You will get profit after selling your product to the customer who wants to buy your product. If you satisfy the need of customers then they will promote your business. So always make a decision based on the situation and based on what your customer want.

Providing good customer service means making your customers happy and satisfied with your retail product and services. Also, you have to provide service in a timely manner. To provide great service you need good communication and problem-solving skills.

Customer service will help you to increase customer loyalty. It also improves the quality of your retail products and services. It will deliver a great customer experience. If the customer satisfied with their needs then they will refer their friend to you. Like this, they can promote your business free of cost.

So to increase the growth of your business and stand out in the competition delivering good customer service is the best option. A happy customer will help you to create a positive work environment. Great customer service can build a product brand and promote that product.

Keys Customer service mistakes to avoid:

A simple mistake in customer service makes a big loss in business. Customer needs can make or break your business. So to protect your retail store business falling down avoid following Customer service mistakes:

1. Forcing customers to use a specific service channel

Good communication with the customer creates a good impact on your business. There are different platforms to communicate with the customer. It may be through email, chat, phone or face to face. It is not compulsory everyone can use one channel. So forcing customers to contact you through phone or email only create a bad impression on the customer. Its effects on the growth of your business. Just told your customer, to use any of the specific channels to contact you.

The number of retail companies can create an online customer portal for customers. It will make easy all conversations about customer issues. It helps the customer to contact with retailer. From this portal, customers can access self-service. Using self-service they can solve their issues on their own time.

To avoid customer service mistakes try to listen to customer’s opinions carefully. Pay full attention while talking with a customer. And make sure the customer giving your complete attention. This is the best and number one rule of good customer service. Listen to customer issues carefully and answer them.

Without listening, customers assume what they want is a big mistake. So always listen to the customer first to avoid this mistake. And try to solve their issues with your retail product and services.

3. Keeping customers waiting

When the customer comes to your store then don’t let them wait for a long time. This mistake can affect your good customer service. Because waiting can make your customer disappoint and they will give negative feedback to you. A better way is always trying to deal with the customer in a timely manner. Provide a good waiting facility and try to make witing time as short as possible.

A good train employee can help to increase customer service. Recruit better and well-behaving employees in your retail store. If the employee is really valued then invest money in their training and wellbeing program. Make them perfect to interact with customers. If your staff is happy then they will make customers happy. Tell your staff to provide a valid receipt to the customer after purchase. On the basis of detail that printed on your receipt proof, they can exchange the product.

5. Breaking promises

If you give any promises o your customer then don’t break it. If you break your promise means you can lose the trust of your customer. Take the survey to know customer opinion and try to make changes in your products and services. Make the customers to trust you and provide them what they want.

6. Arguing with customers

If a customer comes to your retail store with any complain then first listen to them carefully. If you do not agree with complain then don’t argue with the customer. It will create a bad impact on your customer service. If you are not accepted with them then also you need to accept they feel their problems.

7. Provide true information

While dealing with the customer always tell then true information about the product. If you do not agree with their complaint then never let it come across to a customer. Collect feedback to know the customer’s opinion. This is the best way to improve customer service.

Provide all the detail of the complete customer satisfaction survey to them. Ask then to give your valuable feedback. Tell them to keep all the detail which is printed on the valid receipt with you. Offers gifts and free food vouchers to the customer. Customer service mistakes can be assured just try to avoid doing this mistake.