- Let's talk about how to systemize your business
so it will run without you.
Let me ask you a question.
Why did you start your business in the first place?
Yell the answer as loud as you could.
Why did you start your business in the first place?
Freedom,
solve a problem that you want to solve,
very nice, so solve problem.
Say again, personal satisfaction,
so you get more joy out of working for yourself,
okay so satisfaction.
Control the direction of your life,
so control, I'll put control.
You are unhirable, who said that?
How many of you are unhirable?
(laughing)
I am totally, absolutely, 100% unemployable,
that's for sure, that's for sure.
I've only had in my career,
I've only had one job in my life,
that's working for a supermarket
and for one year as a grocery bagger.
That's the only job I've ever had in my life.
And the most important thing I've learned from that job
is working with somebody else sucks.
- [Narrator] The King of High-Ticket Sales,
World's Highest-Paid Consultant,
Media Celebrity,
Multi-Millionaire Entrepreneur,
Acclaimed TEDx Speaker,
International Best-Selling Author,
Dan Lok.
- What else?
Personal growth, okay I like that,
so growth, I like that.
Helping others, yes.
Oh someone is honest, who said "more money"?
More money, more money.
I'll give you like some dollar signs, how's that.
Give me a couple more, give me a couple more.
Hmm?
Pick your own clients,
okay, you're own clients.
So you work with the people you want to work with right?
Yes, sleep in, okay no commute
or just so you can, you know--
so sleep in, give me one more.
Tax benefit, yes, tax benefit.
That's good, that's good.
So we all started our business for theories of reasons.
Now how many of you have heard of the book of E Myth?
Okay, if you have not read the book,
please put that on your list of book to read.
"The E Myth" was written by Michael Gerber
and its one of those book that change the way I operate.
You know, I would say one of the top ten
business books I've read, E Myth.
And E Myth talks about the entrepreneurial myth,
the entrepreneurial myth.
So Michael in the book, basically talks about the myth
that most people who start small businesses
are actually entrepreneurs,
but actually they're not entrepreneurs.
The fatal assumption that an individual understands
the technical work of a business,
can successfully run a business,
that does that technical work.
So a plumber working for a plumbing company
and believe that I can do a better job,
I go out and start my own business.
A programmer working for a company,
well I think I can do better thing on my own,
I go out and start my own thing.
A landscaper working for a company,
well I think I can mow a better lawn than my boss,
he's kind of a jerk anyway, so I don't like the guy,
I go out and do my own thing.
So what Michael was talking about is most entrepreneurs,
the E myth, are actually technicians
with an entrepreneurial seizure.
Most entrepreneurs fail because you're working
in your business rather than working on your business.
Meaning that well, I know how to do plumbing,
let me start a plumbing business.
Or I know how to do a technical work,
let me just do that business.
How many started your business that way?
Yeah, and the challenge is that in a business,
you don't just have a technician,
and the business would be successful.
A business actually needs three people in a business
in order to be successful:
you need an entrepreneur, the visionary,
you need a manager, the big team,
and you need a technician to do the work.
The challenge is, most entrepreneurs, we started off
wearing what, three hats?
We are the entrepreneur, we are the manager,
and we are the technician.
We're trying to do all three.
We juggle the three balls.
And very often, it's very easy to get sucked into.
Well, "You know what, I'll just do this work",
and then, "Oh no, no, I gotta figure out
how to grow my company too."
"Oh my God, I gotta hire this person,
or that person is not performing well."
"Nope, I kinda gotta do this too,
I gotta work with a client."
So it's what I describe as like a see-saw
that you do the work, do the work, do the work...
And you suddenly don't get enough clients,
well let's try to get some clients,
find work, find work, find work...
And then do the work, do the work, do the work...
And the whole business, whole life is like that,
year after year after year after year.
And the book addresses that question.
Now the book is not gonna give you the answer
of how to solve that, which is the brilliance of the book.
But is touches a very important concept of why most
small businesses don't work.
Because the very fact that you are a technician
and you know how to do the technical work,
that's actually what's preventing you
from succeeding in your business,
that's what it's preventing you
from succeeding in your business.
So typically, again, the owner of a bakery is the baker.
Owner of a graphic design agency is the graphic designer.
The owner of a dental practice is a dentist.
What typically happens is they try to solve their problems
by working harder at what they do.
Let me become a better graphic designer.
Let me become a better landscaper.
Let me become a better carpet cleaner.
And then my business problems will be solved.
Hmm.
The question is, is that the truth?
And does it work?
Does is work?
To be a successful entrepreneur, you must recognize
that the skills that made you a successful technician
has little or nothing to do with the skills
required to build and manage a business.
I'll say that again.
The skills that made you a successful technician,
has very little or almost nothing to do
with the skills required to build and manage a business.
And that's why, statistics shows 95%, 97% of small business
whatever statistics that you look at,
don't make it five years
because most entrepreneurs are actually technicians,
suffering from an entrepreneur seizure.
So what are the skills that you need to develop
in order to have and build a successful business?
Now for those of you who've been with me for awhile,
you've seen this.
So those who've been with me, this would be a reminder.
A what? Hello?
- [Crowd] Reminder.
- For those of who is new, this will be your road map.
A what? - [Crowd] Road map.
- So what have you learned from my talk
and how does it apply to you
and how do you take direct action?
Comment below and let me know.
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