- [Voiceover] The King of High-Ticket Sales.
World's Highest-Paid Consultant.
Media Celebrity.
Multi-Millionaire Entrepreneur.
Acclaimed TEDx Speaker.
International Best-Selling Author.
(dramatic music)
Dan Lok.
(dramatic music)
- So, let me share with you
what I call the money circle theory.
This what helps you a lot to determine what,
you know, you should spend your time on,
what you shouldn't.
And it is what I do.
It is very, very simple.
So, you have your money circle theory.
Let me get, maybe, a marker here.
Yep, so, the money circle is like this.
So, the people in the middle,
it's you, your family,
people closest to you, or your most important clients.
Who pay you the most amount of money.
When they contact you, your first,
in your inner circle, they get priority.
They get your attention.
Because a lot of your happiness, is your family.
A lot of your wealth, and income comes from this group.
Chances are, for most of us,
probably more than 80% of your income comes from this group.
How many of you understand what I'm saying?
Right?
These people, these people are your VIP.
You give the attention that they need.
Absolutely, 100%.
Now then, you have what I call, mixed level,
so in my case, it would be family,
friends, the outer circle members,
my business partners, they're in here, okay.
And then the next level,
could be people outside of here, let's say the VEG.
Let's say I call that my tribe, right?
If you are from VEG, you contact me,
more likely I would get back to you.
If you're not in the VEG,
or you're some outside people that I don't know,
I'm never, if I've met with you,
chances are, yeah, you'll hear back from me?
Reasonably, quite good.
But outside of that, VEG, my tribe,
so think of your tribe,
the people who like you, trust you,
and that you like, and trust as well, right.
So that's your tribe.
And then you have what I call outside of that,
outside of that, then these are the people
that maybe you kinda connect them with social media,
you don't really know them,
they don't really know you, but you did kinda connect.
So those type of people, you spend again,
less time, less attention.
It's very simple.
And then outside of that,
are people that you actually don't know,
this and that, and they want something from you.
Let's say you get an email from someone from Nigeria,
saying "Hey man, I've got thirty million dollars,
"and I just, email me, give me a bank account,
"I'll pay you a 10% fee."
How many of you have seen that before, right?
Those you can, eliminate.
That's what I mean.
So, in money circle, so knowing anything,
any contact, any people contact you,
you say, okay, where they fall in my money circle?
Oh, they are, they're here.
Priority, let me get back to them.
So, with me, this is basically, within a day.
This, sometimes within hours, if it's important enough.
This is probably two to three days.
Outside of that, it's probably a week.
Outside of that it's probably never.
Very simple decision.
Now, one time when I was speaking,
I think it's next slide, yeah.
One time I was speaking,
and I was talking about managing your life,
managing your time,
and then there was a heckler in the audience.
Know heckler?
- [Audience Members] Yes.
- Heckler, then they give you a tough time, right.
This is a lady, and she was like,
"Wow, but Dan, what you're sharing, you know,
"it feels like, do you feel like
"you're the center of the universe!"
And I'm like "Well, Ma'am,
"I'm definitely not the center of the universe.
"In fact, in universe, I'm not even a dust!
"But I'm definitely the center of my universe.
"It's called planet Dan.
(audience laughs)
"My planet, my rules.
"You want to come to my planet,
"my rules."
"Oh but Dan, you know what you did,
"you just, then it feels like you're not very nice,
"and you don't treat people well,
"and then, you know, this kind of stuff".
And I said "Well, Ma'am, I respect that,
"and I can tell you a little bit
"about the money circle theory."
I said "It's very simple Ma'am."
I said "The amount of attention that you get from me
"is in direct proportion to how much you pay me."
(audience murmurs)
The amount of attention that you get from me
is in direct proportion of how much you pay me.
I said "At this point, you ain't paying me very much!
"Ma'am, so I ain't listening to what you are saying."
Now does that, did that rough some feathers?
- [Audience Member] Yep.
- Yeah, but also I made a statement.
Now, in life, is that what it's all about?
No, I'm just saying as an entrepreneur
if you adopt this philosophy, you'll be more effective,
does that make sense?
- [Audience Member] Yes.
- Yeah, when you are successful,
on your own, now you can give back.
Now, you can decide, you know what.
I could help that person.
I could give them the time that he needs.
Because I don't need the money.
I could help, because I want to help.
I can get that out of the way.
But get there first.
Then you can give the time.
Not like, now you're not even like personal mastery.
You haven't managed your time, properly yet.
And now it's just like, oh yeah, I'll give you time.
How many of you, be honest with me?
Waste too much time with people
that you're hardly ever going to do business with?
Because you wanna be nice.
You wanna seem nice.
You know deep in your heart,
that person, ain't gonna,
you ain't gonna do business with that person.
Why?
Let them be their time vampires to somebody else.
Give them your competitor's business card.
(audience laughs)
Talk to that guy.
Don't talk to me.
Talk to that guy, right?
He's great, talk to him!
Right?
Yeah, all the clients from hell,
just give them a card,
please, call my associate, gladly,
he'll help you, I cannot help you.
I'm just, I'm sorry, it's not a good fit, okay.
The amount of attention that you get from me
is in direct proportion to how much you pay me.
(upbeat classical music)