- So there's three stages. How many stages?
- [Students] Three.
- Of entrepreneurial growth. Please write this down.
First, let me define productivity for you because
you can't achieve productivity if you don't define it.
So I define productivity as maximum results
in minimum time.
(dramatic music)
- [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.
- Please say it with me- maximum results in...
- [Students] Minimum time.
- Minimum time. So we all have 84,600 seconds
every single day, one day at a time.
Every single second is an investment.
Maximum results in minimum time. Now let me define leverage.
Leverage is maximum productivity with minimum effort.
Please repeat it out to me. What is leverage?
- [Students And Dan] Maximum productivity with
minimum effort. Maximum productivity with minimum effort.
Then you get to freedom.
Freedom is maximum leverage with minimum stress.
Freedom is, what?
- [Students And Dan] Maximum leverage with minimum stress.
- So those are the three definitions, three things
to help entrepreneurial growth. Here is the problem.
Entrepreneurs, sometimes they try to get to freedom
without going through the first stage and that is
maximum personal productivity.
You're not even done with that step as an entrepreneur
and now you want to apply leverage
and you want to have freedom. What happens when you do that?
- [Student] Chaos.
- Chaos. What happens when you do that?
Say again.
- [Student] It's like pouring gasoline on your money and
light it on fire.
- Very nice, you pour gasoline on your-
No, it's actually the money's already burning
and you're like (fanning noises). That's what you're doing.
Mkay. So we have to achieve maximum personal productivity
first. Then we can apply leverage cause notice,
the definition of leverage is maximum productivity.
Not minimum productivity.
Maximum productivity with minimum effort.
Now you have to put that there as a person,
now you can apply leverage. And when you apply leverage,
then you can have the minimum stress and maximum leverage
that gets to freedom. You don't get to freedom until
you go through those two stages.
And that's why I am not a whole-
how many of you have heard of the 4 hour work week?
Yeah. I know Tim, Tim is a good friend of mine.
Tim does not work 4 hours a week, believe me.
(class laughs)
You look at all the shit that he does, I don't know if
he even sleeps four hours a day.
That's a good title though, sells books.
He knows that. He knows that. That's why I am a
very big believer in you have to achieve that personal
productivity, the self mastery first, then you can leverage.
It's like you try to hire sales people. How many
wanna hire sales people and grow themselves?
Show of hands. Mkay. And I told Sam about the same thing.
You can't hire sales people and expect peak performance,
maximum leverage, if you're not a good
sales person yourself.
Cause how do you know they're doing a good job
or lousy job?
You can't coach them.
I am the best sales guy in my, all my companies, period.
If my guy's on the phone, he's selling.
If I'm on the phone, I can close better sales,
without even using my name. I can sell better than
anybody else in my company.
So I can coach them on how to do better.
Because I've maximized that, over the years
I've learned how to do it. Does that make sense?
You can't delegate- write this down- You can't delegate
what you don't understand or what you haven't mastered.
You can't delegate what you don't understand,
what you haven't mastered. How many-
and maybe an aspect of a business is that,
you know what, maybe I don't want to deal with that stuff,
let me just hire somebody and I'll just
let somebody else do it. You have no clue
what they're doing. You're not measuring their performance,
no clue. It's just nah, I'll delegate it.
What are the results?
What are the results? Tell me. Hmm?
- [Student] Garbage.
- Garbage. What are the results?
It's awfully quiet. What are the results?
- [Student] Mediocre.
- Mediocre.
- [Student] Sometimes it's a hit or miss.
- Yeah, hit or miss?
- [Student] Sometimes you get a scholar and sometimes
you get a little bit of guilt.
- We don't get that maximum consistent performance.
That's why. So when I hire somebody first I always
learn it quite thoroughly myself.
Doesn't mean I have to be world class at it.
But let's say if I'm gonna hire SCO company,
to see optimization of company, if I know nothing,
pretend I know nothing about SCO, how do I know
if they're even doing the work?
You hear this from entrepreneurs all the time,
well, it's on a six month contract. You're paying me
$2,000 a month to sell for them and we would
get you ranking. Great. I have no clue what I'm doing,
they seem legitimate. At least they sound good.
So let me write the check. Three months later
you call them. How's it going? Oh, we're working.
It takes a bit of time. It takes time to get ranking.
Okay, I have no clue, I can't check, I don't know. Right?
Okay, three months later. Well, I don't see the
traffic increase, I don't see any growth.
Oh, Google, that's how it works, man.
Sign up another six months, you'll see results.
On the other hand, if I do understand about SCO
and I sit down and say, you know what? I wanna hire
your company to do SCO, I could do it myself,
but my time is valuable, right? I want to hire somebody
else to do it. I want to apply leverage.
Show me your process.
How do you do SCO?
Well, we do link building and optimize your pace
and we use word press we do this and we do that.
Okay, that makes sense to me. Cause that's what I
would have done.
Great. And how do I measure your performance?
What kind of analytic do I look at?
And how fast do I see results?
I question everything and at the end, okay this sounds
like a good company, I'll go with them.
Can you see how that would get better performance
out of them? Very simple.
Well, you guys know what you're doing so let me just
write a check. Then it's not their fault, it's our fault.
That we don't learn it thoroughly.
So it's okay to delegate, but we gotta know our stuff.
Everyone with me, yes?
- [Students] Yes.
- Awesome.
Hi, this is Dan Lok. Welcome to Dan Lok TV.
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(upbeat pop music)