- Please give them a high five
and say "This is interesting!"
- [Audience Members] This is interesting!
(audience murmurs and laughs)
- And, I remember the story.
- [Audience Member] All right!
- Not too old yet!
Not getting too old yet.
Now I shared a story, let me give you
a kind of like a, simple prediction
of what's going to happen with China.
Just my personal opinion.
Now, a lot of people say,
you know, made in China, before it's a shame
that people's stuff made in China,
they're quality is bad, and what's going on,
things like that.
Now, here's what's going on.
Because, just because the sheer volume,
the amount of business in China being done,
that I suspect in the next five to 10 years.
Even right now, it's actually a reality.
But I think it would take some time
for the whole world to catch on.
You'll see stuff that made in China,
the quality is actually superior.
The quality's amazing.
- [Announcer] 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.
(dramatic music)
- The knock-offs and everything they do.
Because just they do.
I'll give you a very simple example.
If you go to YouTube, you can search.
You know China now, they have technology
that they could build these,
like hotel, buildings, right?
In days.
Days.
Seven days, they put up a building.
They have this type of technology.
Just because they've built so many of them.
You learn through the experience.
They built more buildings in a year than built
in here in a hundred years.
You don't have to be a rocket scientist
to get good, when you do so many of them.
Their technology, their people.
This and that.
Yeah, there is a culture difference.
There's a language barrier.
But you can buy all those things.
And that's why see developers now coming into Toronto,
coming to Canada, coming to like Alberta.
Like, that's why they're developing.
They're expanding internationally.
And they're developing these buildings.
That's why.
And the local, even the local real estate developers
they say "Holy shit!
"These guys, not only they've got money,
"they know what they're doing."
They might not know the laws
in all the intricate details.
But they could buy all those things.
But just experience wise,
they know what they're talking about.
So, let me share--
So, what I'm expecting is, I think in,
soon in the future, China, the products and everything else.
I know if you, you know in the US now,
what's going on.
I know they're trying to bring back jobs, right?
Trying to create more jobs and Trump is trying to do that.
I'm just not a political discussion.
I'm just saying that's what he's trying to do, right?
I personally think it's going to be very hard.
(audience member shouts)
I think it's very hard.
Because by the time they think, bring back jobs,
and this and that.
These guys have already been doing it for years.
Now you're playing catch-up.
And you find out, how come
they are so much more faster, more efficient?
Give you a perfect example.
I'll wrap it up, and then we'll take a break.
You know Kickstarter campaign, right?
In here, what is Kickstarter?
Crowd funding, right?
(audience member shouts)
Do you know, so what happen is,
an entrepreneur comes with an idea.
I want someone to fund this.
I came up with this idea.
I think it's going to be a great product.
I want to bring it to the market place.
But I don't have the money, right?
What's going to happen is,
I put up the money, but I put up the,
well the thing, this thing on Kickstarter.
Hopefully, I raise money, to make this thing.
Right?
Well, you know, there is Chinese companies
watching all the KickStarters.
The minute you put it on.
They're making this shit.
By the time you're finished raising the money,
they're selling it already.
(audience laughs)
By the time you actually create the thing.
They're selling your stuff on Amazon.
(audience murmurs)
(audience member talking)
And you think you make one color.
They already make four colors.
(audience laughs and chatters)
That's how it is.
That's why I say to you guys, many, many times.
Fast is the new big.
It's not how much you know.
It's how fast you can implement.
From here to implementation, to execution,
it takes you that long.
You're in trouble.
You gotta shorten this.
Because they, they're not just copy.
You can say they copy, they knock-off, whatever.
But they get shit done.
In here, you wanna build a bridge,
it takes you 10 fucking years.
(audience laughs)
You have meetings, studies,
survey.
China, yeah, we should build a bridge.
We're building a fucking bridge.
Oh, you don't like it.
You move!
Not a perfect system.
But one hell of an efficient system.
One hell of an efficient system.
Yes.
- So, if a client,
that is working on a deal in China
just with this one company to sell her product over there.
It's skin cream products with very unique ingredients.
So, could they just knock something like that off too?
- [Dan] Yes.
- Like go into the lab, and just pull it apart and--
- [Dan] They might be knocking off while we speak.
- Right, okay.
- Because whatever ingredients, it's not unique.
- [Audience Member] Yeah.
- They could just go to a lab,
just do, find all the ingredients.
And they'll come out with a different label.
- [Audience Member] Okay.
- And then what you're going do?
They're in China, are you gonna sue them?
- [Audience Member] Okay.
- You know what I mean?
It's just what happens, right?
Now, not all of them are like that.
But chances of that, lying that, it's high.
- [Audience Member] Yes.
- So, when you do a deal with Chinese.
You wanna make sure it's a long conversation.
But you want to make sure that you have
some elements of the deal that you control.
That they cannot duplicate.
- [Audience Member] Okay.
- That they cannot easily knock it off.
Certain relationship that you have,
that they cannot copy.
Certain elements that you have,
that they cannot copy.
That something that only you control.
- [Audience Member] What would be an example
of something in that situation?
- So, let's say it's a technology.
If you control the technology.
Well yeah, don't give them the whole thing.
Just you control that technology.
- [Audience Member] But they're probably just gonna
ship the product over there right, as it is?
- That's why you don't want to do that.
- [Audience Member] Okay, all right.
- You just don't want to give them to do that.
Now if, example, yeah,
Jenny, Jenny's, go ahead, come.
(Jenny murmurs)
No, no, go to the mic first.
She's the Affluent Chinese Consultant.
It's good.
Ask her, don't ask me, ask her.
- So for Chinese company, even though for company here
that are doing business they're thinking,
"So, the money I have to buy you out,
"or the money I have to invent myself in China,
"which costs more?"
- [Dan] Yeah.
- They're gonna--
- [Dan] My bet is just to sell, sell it off.
- They're gonna weigh it out. - Exactly!
- [Dan] They'll weigh it out.
- So, if say, the buy you out costs,
like two times more, or maybe 10% more.
They wouldn't even do that.
- Okay.
- And I'll give you another example,
I'll wrap this up.
Let's say it's an advantage
for them to use your label.
Let's say you sell Maple syrup.
It's much better off, when say it's made in Canada.
And having your brand.
And our manufacture, our partner is in Canada.
Shipping this stuff to China.
'Cause to them, honey and Maple syrup in China,
I don't trust your shit, right?
So, that to them is an advantage.
They're not gonna fuck that up.
Or wine, right?
Or even now, you know, the baby food product.
If they're affluent they don't want
to buy baby food product in China.
Because they're all poisons, right?
So, but they want to buy things over--
They like it, if it's oversea.
They like it, it's high quality.
They don't want "Made in China."
No!
My baby's taking this, I don't want.
Canadian partner, American partner, awesome.
All day long, right?
- [Audience Member] Right.
So, it's just vetting, trying to vet it out.
- Yeah, you want to make sure you have--
Like do not just say "Here's my product."
Because they will pitch you.
"Oh man, you're selling how much in here?
"Our market is hundred times bigger.
"I've got all these connections.
"Give me the product, we're gonna sell
"a hundred times more.
"And you're gonna make all this money.
"I'm gonna send you a cheque.
"And you don't have to do anything.
"It's great!"
Right?
- [Audience Member] Okay.
- No.
- [Audience Member] Red flag, basically.
- Yep, yep.
You've been watching my videos for sometime 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 cannot 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.