Proven Ways To Make Money | Dan Lok Strategy
Updated: Apr 30, 2022
Most people think there are endless ways to make money, and they get overwhelmed. But there are only 4 proven ways to make money. Creating wealth is not that complicated...
Almost everyone on the planet makes money by one of these four ways.
Many many variations,but fundamentally four ways.
Number one, you can make money by working.
You can make money by what?
- Working.
- You can make money by working.
Either as an employee or working for yourself.
Self-employed, you're trading your time for money.
This is even true for high income earner like a doctor, a lawyer.
Essentially working, make money by working.
And as a worker, there are only two ways to increase the amount of money
you make. Either by working more hours, or you develop new skills.
You're becoming more valuable, right?
The second way you can make money is by selling.
What is it?
- Selling.
- You can make money by selling things.
Of course, that's what we do.
As a closer, as a copywriter, could be as a digital marketer.
As a closer, the money you make does not depend so much on the time you put
into it, because could you put a lot of time on the phone and not make anything.
Yes?
- Yes.
- There's nothing-
Now could you be making 2000, 3000 dollars in 30 minutes.
Yes or no?
- Yes.
- It's not determined by your time that you put into it.
What counts are three things.
How many things?
- Three.
- How good you are at closing,the size of your commission, and the price of the things that you sell.
Making money by selling, how good you are at closing,the size of your commission,
the price of the things that you sell.
This is why to generate significant income as a closer, we focus on what?
High ticket.
We focus on what?
- High ticket.
- Because we know we can get to a significant income with less, fewer transactions.
Number three, you can make money by owning things.
By what?
- Owning things.
- By owning assets.
If you own an income producing asset.
Like maybe rental real estate, You can make income.
Make money from your rental income.
If you own and run an active business, you know how to lead, how to build a team,
you can make money through its profits.
Because the money you generate from a business
is not called income, it's called what?
Profit.
Profit and loss statement, right?
You can make money by lending.
What is it?
- Lending.
- You can make money by not working harder, Or even acquiring high income skills.
Or even with profits or salary, you can make money on the money you lend,
On the interest you charge for that money.
Now we're talking about banks, Private equity, Venture capital, Angel investors.
There are many variations of the four,but basically those are the four.
Pretty much the four.
So what does that mean to you?
It means this.
The most efficient way and most effective way to build wealth, and
this is especially true if you're starting from zero is this.
Is, you got to move from worker, to being a closer, a salesperson,
to owner, and eventually, once you make enough money,to being a lender.
Kind of operating like your own bank. You're making money on the money.
That's really it.
Creating wealth is not that complicated.
ABOUT DAN LOK
Dan Lok is one of the world's first foremost experts in marketing, sales and business. He was a self-made millionaire by 27 and is now an 8 figure (growing to 9 figures) entrepreneur.
Dan Lok has been viewed more than 1.7+ billion times across social media for his expertise on how to achieve financial confidence. And is the author of over a dozen international bestselling books.
Dan has also been featured on FOX Business News, MSNBC, CBC, FORBES, Inc, Entrepreneur, and Business Insider. In addition to his social media presence, Dan Lok is the founder of the Dan Lok Organization, which includes more than two dozen companies - and is a venture capitalist currently evaluating acquisitions in markets such as education, new media, and software.
Some of his companies include Closers.com, Copywriters.com, High Ticket Closers, High Income Copywriters and a dozen of other brands.