- Now, the affluent Chinese I work with
will generally refuse
to do any major business
with someone they did not know well
or have not had relationships with
over a long period of time.
Long period of time.
I call that the Onion Theory.
What is it called?
- [Audience] Onion theory.
- Let me explain
the Onion Theory.
- [Announcer] The Kind of High-Ticket Sales.
World's Highest-Paid Consultant.
Media Celebrity.
Multi-Millionaire Entrepreneur.
Acclaimed TEDx Speaker.
International Best Selling Author.
Dan Lok.
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- Here's the deal.
So we look at an onion, right?
Big onion.
Now, onion has what?
Many...
Many layers.
(marker drawing)
So at first when you meet with them,
you are where?
You're at the skin, just the first layer.
They do not trust you, they don't know who you are.
What the hell do you do.
So through observation, through a long period of time
or sometimes small deals and small transactions
they get to know you a little bit more.
And then they get to know you a little bit more.
Now even if you get to this point,
it doesn't mean they fully trust you.
Doesn't mean they fully trust you.
But once you've earned the trust,
that's why it's a long sell cycle.
But once you can penetrate through this,
let me explain what is gonna happen.
You penetrate through this,
you become kind of their inner circle.
They trust you?
They trust you 100%!
I'll tell a story
of a friend of mine who's a realtor.
I'm not gonna name any names.
It took her two years.
How long?
- [Audience] Two years.
- Two years to establish the relationship
with a buyer.
She came here and they oft didn't talk business,
they just had dinners and stuff like that,
they talked on the phone.
Doesn't even feel like they're gonna do business.
Bought one little house from her, not a lot.
One little house.
Not even that much money, maybe $600 or 700k,
something like that.
Made a little commission, that's okay.
Back and forth,
the wife goes back and forth,
here and there.
Just within the two years, just keeping up the relationship.
So she's earning the trust.
What's she doing?
- [Audience] Earning the trust.
- By the way, affluent Chinese is not gonna tell you
how much money they have.
The ones ...
The ones that lie, that are fake
will tell you they have more money
than they actually have.
The ones that could have money will tell you
that they have less money than they actually have
'cause they're afraid you're gonna want their money.
This guy, maybe he's got half a million,
tell you, "I've got $10 million."
This guy's got a billion.
He'll tell you, "I've got one million."
- [Audience Member] I think that other guy might be
the white guy.
- It could be, it could be!
- [Audience Member] He usually says he has more.
- Yeah, right.
It could be that, too.
So they puff it up, right?
Or Chinese, they love to talk about, "I know so and so."
Please write this down!
"Oh, yeah, I know so and so."
When they say, "I know so and so", it means they know
this guy that might know this guy
that might know this guy that might know this guy.
But they'll say, "Oh, yeah, we're like buddies."
We're like this tight.
- [Audience Member] The white guy, or?
- Chinese!
They love to drop ...
Chinese is the master at name-dropping.
They'll say they know everybody.
Assume they don't.
And they might!
But don't take it just as face value.
"Yeah, I know Jack Ma."
Yeah, they were like high school buddies.
Like, the hell you are!
All right?
Jack Ma doesn't know you from Adam.
But they thought we're like buddies.
That's how they talk big, right?
Sort of puff it up.
So what I mean is, once you get to the core,
here's what happens ...
Let me finish the story.
So her buyer bought one house and said to her,
"You know now we have established the trust,
I'm gonna be in China most of the time.
Here's the money, you pick 10 houses for me.
You pick!
Don't need to go through me.
Here's the money, I'll put it in an escrow.
Whatever you pick, you just buy
(gasping)
on my behalf."
That's the difference!
They watch and they watch.
They observe.
Once they trust you, they fully trust you.
And here's the thing,
with Chinese, because it is all done
through word of mouth, right?
You get into their inner circle
you get to all their friends.
Because for Chinese once you're in their inner circle,
they trust you.
So the guy with $100 million,
most of his friends are worth what?
A hundred million and above.
You get to that guy, he trusts you fully,
he'll say, "Hey, let's have lunch, let's have dinner."
And he'll invite you to people and then you'll see
he's now talking to all his friends.
His friends don't say anything, by the way.
His friends are not going to jump,
"Yeah, I want to do business with you."
No, just have lunch, have dinner, you talk
and they are watching you.
"Okay, my friend said you're good.
Let me watch to see if you're actually good."
Then they talk.
And that's how they do it.
You get to the core, you get all the business.
But Patrick, what's been your experience,
even with working with the mass.
Let me go to the mike, help me out a bit.
Round of applause for Patrick?
'Cause Patrick raises money from affluent Chinese
and they play the mind game.
But knowing that first, they don't trust, they don't trust.
What's been your experience?
- Well, I actually got off ...
Is it open?
- [Audience Member] We can hear you.
- I actually got off easier.
I was working Hong Kong.
So there's some similarities and we connected,
but we haven't done business until four years down the road.
And when we did business this single time,
did about $15 million.
Just one client.
But it took a long time.
- [Dan] It took a long time.
(applause)
That's how it is.
So knowing that you are investing ...
Here's the way I see it:
We have two bank accounts.
How many?
- [Audience] Two.
- Present and future.
Present and future.
The present bank accounts, you do a deal, you meet someone,
you negotiate, you close the deal, awesome!
Present bank account.
Future bank account.
Dealing with an affluent client takes time.
A lot of meetings.
A lot of face-to-face.
But you're investing your time and investing your effort
in the future bank account.
And when that comes to fruition,
you make a big chunk of money.
That makes up for all the time that you invested.
So you have to invest first.
You have to invest first, you have to invest first.
Just knowing, in your mind, you need to extend
the time frame.
You kind of see where yourself at.
"Am I here or am I getting to the core?"
Right?
And they won't tell you where you are,
but just one day someone will say,
"Yeah, you get all my business."
Just imagine someone from China just the real estate agent,
saying, "Here's the money, you pick the house,
you get all the commission, you buy 10 houses for me."
Imagine the trust of that!
That's not happen with a Caucasian,
but in Chinese, "I trust you, fully trust you.
Here's the money, go for it."
No different than insurance agents.
Right now, I think Canada's number one for Canada Life
who is, what's his name?
What's her name?
Yeah, I forget what's her name?
- [Audience Member] Janet?
- Jana or Janet?
Yeah, Janet, yes.
Number one in Canada,
sells more insurance than anybody else.
Her clients buys all these premium
$100 thousand, $200 thousand, half a million dollars,
just like that, just like that
because she knows how to build those relationships.
You've been watching my videos for some time now,
and you might be wondering,
"Dan, how do I go to the next level?
Or how could I be mentored by you?"
Here's what I want you to do.
My very first assignment to see if you qualify,
I want you to go to FUMoney.com
to download a copy of my book.
You can't even do that, I can not be your mentor.
The second step is, after you download my book,
I want you to read it.
And you also get an invitation to register
for one of my upcoming webinars.
I want you to register and show up for that webinar.
During the webinar, I go through all the details
of how you can possibly be mentored by me.
Go there right now, FUMoney.com.
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