- [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)
- When we talk about in your business that is with
let's say you take an internet business for example
how many of you run an internet-based business?
Oh wow, quite a few, okay, so you will get this.
Now if you don't run an internet business just stay with me.
So in a typical internet business if you break it down
there's a lot of stuff you've got to do, right?
A lot of things I'm gonna kind of map it out for you.
So we have content, we have copywriting
and of course with internet business
you've got to build a list, right?
Got to build list.
Of course you have to get traffic, offers
you have to have technology and finance
so some of the key areas you have to focus on
in an internet business, make sense?
Yeah and within that, let me break it down for you.
So let's say for content you have articles
you have products, you have podcasts
you have tele seminars, you have automated webinar
you have audio, your blog posts
you have video like YouTube
you have webinar, you have eBooks
and you have press releases, okay?
Then for list building of course you have
lead capture page and you want to track
and you want to have auto-responders to follow up
automatically, you want to segment your list
so you're talking to the right people
and email broadcasting and also
making sure the email gets delivered.
So list building.
Then you also have finance, of course.
Merchant accounts so you can take credit cards
and if you have an affiliate program
you will pay affiliates.
Also deal with charge back and taxes and refunds
and insurance and recurring payments
and of course accounts payable and cancellations and payroll
that's under finance, right?
Then you also have technology.
Hosting and shopping cart and email database management
tracking and site maintenance and server maintenance
and plug-ins, using Wordpress and computer maintenance
and mobile apps, etc, etc.
Copywriting, sales page, order page
subject lines and banner ads and pay per click ads
name capture pages and affiliate recruitment
and split testing and emails
and Facebook ads of course nowadays.
Traffic, you have SEO, search engine optimization
viral programs, sponsored ads, media buy
and RSS feeds and video marketing, keyword research
link building, again Facebook advertising
and social media, blogs, banner, JV recruitment.
We're not done.
You have offers.
Upsell, cross sell, down sell, bundle offer
membership sites, seminars and workshops
a one time offer, discounter offer
if you already have a service
consulting and coaching, done for your services
backend offer and continuity program.
Those are just some of the things on the list.
Here's what it ends up looking like.
That's what most people do.
How many can see why some entrepreneurs are going crazy?
(audience laughing)
Okay.
This is the organization chart of a typical business.
(audience laughing)
Yep, there you go.
Now how many can see why also entrepreneurs
have split personalities?
(audience laughing)
Okay, I got to do this, I got to do this
I got to do that, I got to do that too.
But how many can see this doesn't work?
This cannot work.
You cannot sustain this.
It's impossible.
Yet, that's what most of them do
because they don't know better.
They don't know there is a better way.
I'm gonna show you.
So what are the roles and goals
responsibilities in your business?
What is it that you're trying to do here?
What is the structure of the business?
Who is meant to do what?
And how and when and who are they responsible for
and answerable to?
So let me take you through a little exercise here.
Now let's not do this.
Let's start with that, okay.
So I want you to grab a piece of paper
a clean piece of paper and I want you to draw it out.
So you put yourself here, okay?
Just put yourself at the top first.
I don't care if just one person operation
do this with me.
You'll see the impact that it will have.
So a successful business is like an orchestra
a basketball team or an army.
All of these organizations contain numerous activities
all with a distinct function, all doing different things.
But contributing towards the same end objective.
So what we want to do is we want to be the conductor.
What do we want to be?
The conductor.
You don't want to be the one that's playing the violin
you don't want to be the one that's playing the piano.
You're the conductor.
It's because of you, you can play
this beautiful piece of music, okay?
You're the leader of the team.
As an entrepreneur, your job is to leverage
other peoples resources, time and effort
and turn your dream, your vision into reality.
That's your job as an entrepreneur.
Doesn't mean just doing the work.
Now sometimes you have to do the work at the beginning
and that's okay, but eventually
you want to build a business that works
you don't want to build yourself a job.
Does that make sense, yes?
Okay so lets do that for now.
So let's create an organizational chart for you.
Now first of all, start by putting this
every business essentially has four core functions.
How many?
Four.
You have operations, you have finance
you have marketing and you have people.
Just start with that.
So operations, finance, marketing and people.
So I want you to fill in the blank for now
who is doing those things?
Who is doing operation?
Or maybe you have a part-time manager
you can put in their name, it's okay.
Who is doing your finance?
Maybe you have an accountant, maybe you have a bookkeeper.
You can put his or her name.
Marketing, and also people.
Operations, finance, marketing and people.
Just fill in the blank, put in their name
or your own name if you don't have anybody.
Let me know once you're done.
Operations, finance, marketing and people, okay?
It's okay, one person operation, it's okay for now.
The key is we don't want to stay there.
It's okay to start there, I started there.
If you're running a business for a few years
you're still stuck in that, you got to get out.
You've got to get out.
It's not gonna solve itself because sometimes
entrepreneurs they kind of, what's those birds
stick their head into the ground
- [Audience Member] Ostrich.
- Yeah and then pretend nothing happens.
The business is not gonna magically
oh suddenly you have no problems any more
suddenly you have all these good people
and all these functions all operating perfectly.
It doesn't work that way.
If you are the visionary, the conductor
if you are not on the ball and you don't focus on this
it's not gonna solve itself.
Once you have that, so it's got to look something like this.
So you have different roles and in marketing
you might have a couple roles
and here you have bookkeeping
and you might have a couple roles
so it looks something like this.
So you have something, depends on the size of your business.
You should have something like that on your piece of paper.
Put up your hand if you have that?
Okay.
Who doesn't have it?
Let me give you a few minutes, fill that out.
Put up your hand if you don't have a business yet.
Everybody does, a couple, okay.
Now, you have to start thinking of yourself
as a part from your business, it's apart from you
not a part of you, I'll say it again.
You have to start thinking of your business
as apart from you not a part of you.
You are not your business.
You are you.
You are you, you're not your business.
Your business is just what you do.
It's what you do to create value in the marketplace
and hopefully create wealth for yourself and your family
and making an impact, touching peoples lives.
Your business is not you.
So start thinking of your business as apart from you
not a part of you.
So then once you have this
I want you to define and name each position.
So when you're defining the different positions
within a business, it's important to give considerations
to the titles that you associate with each position.
Now this is key, this is what?
- [Audience] Key.
- The name of each position creates not only
a mindset of expectation but an assumption of seniority
meaning look at, I have lets say
yeah Director of DLIC versus Sales Manager
my assistant, problem solver extraordinaire
versus just assistant.
So the way you name things, the way you create the title
makes a huge difference.
Most people, they don't give a lot of thought.
With Shane, think of entrepreneurs group, community manager.
Versus help.
You see a difference?
When someone is assigned that role
they take on different responsibility.
So you've got to think of your title.
Actually what are your expectations of them?
So I want you to define each position.
So let's say if you just say
let's say for marketing as an example.
You just say well you know what
you're the marketing manager
or you are the marketing director.
Is that okay?
It's okay, right?
What about, instead of calling them marketing guy
or marketing manager, you give them a title like
Chief of Revenue Generation.
See a difference?
What are they focusing on?
Just doing marketing stuff?
Or revenue generation?
It changes how they take on their roles.
So give it some thought how you want to name each position.
And I don't like the whole junior, senior thing
because I don't believe in that.
When you call someone senior, suddenly how do they feel?
Yeah like I'm superior than these junior people
and you listen to me, it creates that
culture that I don't want.
I've never used, oh you're junior, you're senior.
I'm more focused on the task at hand.
Everybody is equal, sales is just as important as marketing.
Finance is just as important as marketing.
Its the same.
I want them to work together as a team.
I don't want to have that feeling of
my job is superior than yours and you're beneath me.
I don't want them to feel that way.
Also I don't want them to think just because you're senior
doesn't mean I won't fire your ass.
Doesn't mean I won't fire you.
Because they might think, "Oh I've been with
"this company for ten years, I'm the senior"
Doesn't mean shit.
You're not producing, you're not performing
you're not meeting those benchmarks, you're gone.
It has nothing to do with how many years
you have worked for this company, I don't believe in that.
You could have worked for the company for six months
one year, contribute so much to the company
you get equal compensation.
Someone has been with the company for ten years
without contributing a lot, just doing their thing
don't get a whole lot of compensation.
So fair game.
I don't have the time to go into detailed compensation today
but I want you to just get the idea
that the way you name and the name you give each title
give it some thought, yes?
Give it some thought.
I want to take a moment and acknowledge you.
Maybe you've been following my work for some time now
and you've been watching my videos for a period of time.
I want to hear from you.
How my work has impacted your life and your business.
I want you to comment below and share with me your story.
That's what gives me motivation
and that's what gives me the drive
to create more and inspire more.
If your comment is very good, my team will pin it to the top
I do read every single one of your comments.
I might not have time to reply to all of them
but I do read every single one of them.
I look forward to reading your story.