558: Dan Lok | Building Networth from Debt to 8 Figures

Dan Lok is known as “the king of closing,” but his story didn’t always start out that way. As an immigrant from Hong Kong, Dan struggled to learn English and earn money for his family. He began side hustles at a young age leading him to enter debt up to $150,000. After studying with the greats and taking action, Dan became a self-made millionaire at 27, and an 8-figure entrepreneur soon after, leading to worldwide speaking engagements and becoming an author of his most recent book, Unlock It.  Let’s dive right into the episode as we learn more about how Dan was able to overcome every obstacle in his way and build his net worth. Things you will learn in this episode:  [00:01 - 07:17] Opening Segment Sponsored ad I introduce today’s guest Dan LokDragon 100Be sure to check out guestio.com and start bookingDan gives some background on his story Born in Hong Kong Troublemaker as a kid Immigrated to VancouverGoing into business out of necessity Dan talks about the conditions living in VancouverThe change in living and culture Starting with no network [07:18 - 14:04] Moments of Overcoming the Obstacles Dan talks about his English learning processOnly making English speaking friends Listening to and watching media Full immersion Facing stage fright Dan shares the experience of his dad going bankruptLooking hopelessness in the faceGetting urgent about learning how to make money Getting into side hustles Getting into everything possible while doing school  [14:05 - 23:20] The Power of Leveraging Social ProofFrom side hustle to full-time businessFailing 13 businesses Learning copy from a mentor Learning the gift of persuasion “The million-dollar year”Dan talks about the story of making the cassette tape Borrowing experience from other skilled people Approaching high worth people and building off that The cassette tape Building off of social proofDan’s approach A word from our sponsor [23:21 - 37:47] Building Your Net WorthDan tells a story about a unique phone call Experiencing harsh rejection “This will never happen again” Moving to sales and closing Learning on the job Learning business through prospects Getting into affiliate marketing and online marketingFrom mentoring to seminarsAnswering the demand for more contentBurning out from the constant teaching Exploding because social media Dan’s various companies Dan’s tips for being a better salesperson High-ticket closingMake the prospect the salesperson “What would you like to do next?” The Doctor Frame - exampleResources It’s not about closing  [37:48 - 41:23] Closing SegmentWho you know, or What you know? Half the formula is who you know, the other is who knows you ThE RaNdOm RoUndHow to engage with DanLinks belowFinal words  Tweetable Quotes:  “I learned at an early age - You don’t ask, you don’t get…” - Dan Lok “I was speaking and teaching business owners but unlike most, a majority of my revenue comes from DOING what I teach.” - Dan Lok “We don’t sell, we turn the prospect into a salesperson. We let the prospect do most of the speaking… When you say something it means something; when the prospect says something it means everything.” - Dan Lok Resources Mentioned:  Unlock ItDragon 100Free High Ticket Closers CourseThe Hard Things About Hard Things Connect with Dan on Instagram and YouTube. Be sure to visit https://danlok.com/ to learn more.  Did you love the value that we are putting out in the show? LEAVE A REVIEW and tell us what you think about the episode so we can continue putting out great content just for you! Share this episode and help someone who wants to connect with world-class people.  Jump on over to travischappell.com/makemypodcast and let my team make you your very own show! If you want to learn how to build YOUR network, check out my website a travischappell.com. You can connect with me on Facebook, Instagram, and Twitter. Be sure to join The Lounge to become part of the community that’s setting up REAL relationships that add value and create investments. Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy