- How to make six figures in your twenties.
Welcome to another episode of Boss in the Bentley.
Now, this is what I do on the way to work,
on the way to meetings.
I turn on the camera and answer your question.
Just because I'm getting so many questions
from you, from all over the world.
And I thought, you know what this is a good way
for me to answer your question
and also be time efficient as well.
So, how to make six figures in your twenties.
A lot of young people they ask me
when they're getting started.
Dan, how do I become successful?
How do I become successful like you in my early twenties,
or even at 18 years old, 19 years old.
How do I get started?
Today I'm gonna give you an answer
that may be a little bit surprising.
(hip hop beats)
Now, I could only speak from my own experience.
Nothing more, so when I was getting started,
I started my first business when I was in high school.
Very young age, and I tried a lot of different businesses,
and had a lot of different failures.
In fact, I started and failed at 13 businesses,
before having my first success.
I was trying to fix computers for people,
I was trying the vending machine business,
I was trying the software business,
I was trying the lawn mowing business,
I tried network marketing,
many many different businesses,
and they all fucking failed, right?
So, in my early twenties, when I was 21, 20 years old,
I found my first mentor, name is Allen,
and Allen took me under his wings,
and I worked for him for next to nothing for one year.
Basically, as a volunteer, in his office.
And he taught me a lot of things about business,
and marketing, and copy writing.
In case you don't know what copy writing is,
he taught me how to write ads,
How do you create marketing letters and sales letters?
How do you communicate with people?
How do you put words on a piece of paper
that would persuade, influence people to make a purchase.
So, he taught me, he gave me that skill set.
I consider that as a high income skill.
If you watch my other videos, you know
that I am a very big proponent of the high income skill.
So that's my very first high income skill.
After that, I opened up my own one-man advertising agency,
as a kind of like if you watch the TV show Mad Men,
that's kind of what that is, a one-man advertising agency,
I was doing consulting and marketing,
incorporating for people.
And I was making about 10,000 a month,
in my early twenties, as a copy writer.
So, that's my very first high income skill,
and that's how I started making six figures
in my twenties, at a young age.
So, what do you need to do?
In order to make that money, I can tell you
that if you focus on making the money, you won't get there.
Okay, you gotta think of what is my talent,
what is my skill, what is something
that I could offer to the marketplace,
that I could charge good money for.
If you're working at a job,
making 10, 20, 15, 20 bucks an hour,
it's very difficult to get the six figure income.
But as young people, it could be
if you're in your early twenties, some kind of skill.
Now, it could be sales, it could be marketing,
it could be whatever it is a talent,
maybe a passion that you have,
that you can offer to businesses,
cause easy to charge more money
when you're working with businesses.
Not always 100 percent, but let's say
you're working with companies and businesses,
and you can bring that skill.
It could be theater production skill,
it could be editing skill, it could be animation skill.
Doesn't matter.
But you're working with a business, with a company,
where you can charge high ticket price.
That's what I teach, where in my early twenties
when I was working with clients,
at first I was charging you know 500 dollars,
1,000 dollars, 2,000 dollars, per client.
Later on, as I get better, I was able to charge
5,000, 7,000, 10,000 dollars per client.
So although I was making 10,000 a month,
I wasn't working with five, ten clients.
I was working with maybe one to two clients per month.
And each client was paying me
8,000, 10,000 dollars per project.
If you think about that, that I don't need a lot of clients
to make good money, does that make sense?
I don't need a lot of new clients all the time.
So I was able to do that, so transaction size matters.
The type of skill that you offer matters.
Example I've seen young people where digital marketing,
they're providing Instagram skill,
where they help people manage their Instagram.
Facebook, or Facebook ads, or Google, or funnel building,
or closing on the phone that's what I teach.
All these skills, any one of them
that you can add value to the business,
especially in the sales and marketing arena,
because you're being a profit center for the company, right?
Where you're making them money,
it's easier for you to charge good amount of money for it,
especially if the service is reoccurring.
Cause right now, let's say I'm paying a young guy,
young gentleman managing my Instagram.
By the way, if you're not following my Instagram,
shame on you, okay, @DANLOK, go there right now.
And you can see, he's helping me manage,
and I'm paying him a monthly fee to manage the Instagram,
and help me with the Instagram posts.
So, if let's say you are helping people with
the social media, you're charging them,
let's say 1,000 bucks a month.
Okay, 1,000 bucks a month, with only ten clients,
you'll make 10,000 a month,
each paying you 1,000 bucks a month, reoccurring,
so next month you don't have
to get new clients all the time.
You're making 10,000 a month, solid every month,
as a social media person, as an Instagram person,
as a Facebook person, as a closer, as a...
Any of those skills, right?
Any of those skills, you could make a 10,000 a month.
That's how you do it.
Second thing that you could do
is what I call becoming the right hand person.
Kind of a entrepreneurship or I call that
the chicken entrepreneur, chicken entrepreneur.
So, it's like you're not quite ready
to go out there and start your own business,
but you can choose a business that's like high growth,
fast growth, and you get yourself involved,
and you add value by adding
your skill to the business, right?
So, let's say a company is growing very very well,
growing very fast, you'd become the right hand person
for the CEO, you become the go-to person
for the business owner, you participate.
And you say you know what yes I will take a less a salary,
but if I can help the company go from A to Z,
can I get some revenue share, can I get some profit share?
Right, you are instead of starting from scratch,
you pick a good business, a good vehicle that's going well,
that's got a little team, you connect with the CEO,
you become the right hand person.
That's also a very very powerful way
to make six figure income.
It's a much faster way.
And within my team I have multiple people,
young guys in their twenties, like 19 years old,
making six figure income because they work with me,
they work within my organization, and we...
They partner with me in other words, they join my team.
And because with my brand and everything,
they're able to add value with their skill,
and to participate in the growth,
and they can make that six figures.
So pick someone that you respect,
pick someone that you like,
pick someone that you resonate with,
that you know is also in the high growth phase,
and you can become the right hand person.
You become the go-to person, no excuse
and you show up you do the work.
And if you pick the right person,
you could also make six figures very very quickly.
Because you're not building something from scratch.
You're not building something from scratch.
Now also although you might be,
I know a lot of people ask me
well Dan how can I work with you, how can I join your team?
One thing that you could do
because I'm very very selective of who I work with,
but I open, I'm very open I'm very welcoming
to anyone who's got talent, who's got skill,
who's got a good attitude, a good attitude.
You can apply and go to www.teamdanlok.com, teamdanlok.com
to apply, but again I'm very selective.
You can see the different positions that I have open there,
and so that's one way to do it,
where you pick someone and you can help them, help them.
When you deliver value then you can make that six figures.
I believe those are the two ways.
Develop your high income skill, offer it to the marketplace.
Or partner up with someone, become their go-to person,
become the right hand person for them
in your early twenties to make six figures.
There you go, that's the answer.
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