James begins this episode by introducing his guest, Dan Lok. Dan's past experiences have earned him a repuation that is well-established in the internet space and publishing field. Under his leadership, the companies he runs generate more than $10 Million in sales per year.
James goes on to share that Dan is also the Founder and CEO of the award-winning company, Charmed Junction, Inc. Dan has authored more than a dozen industry-related books including Secrets of Canadian Top Performers and F.U. Money.
James and Dan have met up a few times over the past few years. Before they dig into the meat of the topic, Dan takes James as well as the listeners through his story which begins with the events that led to his coming to Canada with no money or English skills, and sums up with how things are going for him currently.
Next, James talks with Dan about his early days as an entrepreneur. Dan explains why he describes his start as a failure equation and shares the first book he read about increasing his income - a self help and motivational personal development book titled Think and Grow Rich.
Dan started one of his first businesses with some friends. While it was not a great success he shares what non-monetary things he learned from the experience, like networking, advertising, and other marketing skills. Dan went on to fail at several other business ventures before something clicked.
Then James asks Dan to talk about his first success. After sharing the one thing that kept him going and motivated him through all the failures and what he credits for leading him to his first success, Dan went on to thrive in a copywriting and advertising agency. From there Dan went on to:
- buy and sell on eBay
- work in affiliate marketing
- write eBooks
- speak at conferences
- and more
James encourages listeners to visit Dan's website, which has more information about his entrepreneurial work which includes partnerships in different businesses and more.
Avoid This Internet Marketing Mistake
Next James asks Dan what makes him unique in an internet marketing space. While answering, Dan points out the mistakes many internet marketers make. He also confides why he doesn't see himself as fitting into or an expert in any one niche.
Dan goes on to explain the danger of narrowly defining different markets, and offers listeners a suggestion based on how he sees the different internet marketing avenues.
Next James and Dan discuss what's happening with the internet of today, including the mindset of consumers, how they react to the large number of options available online, and how this affects business.
Dan then segues into a comparison of two different internet marketers. He compares and contrasts their processes and methods, and finally explains how each one is faring today.
What this boils down to is the difference between the marketer who makes $2,000 per year, and the marketer who makes $200,000 per year. Dan offers that the difference depends on expectation, among other things.
Dan has a saying that, "Any idiot can make money for a year." He explains that the real test is whether someone can make money year after year over a long period of time, like a decade.
Then Dan challenges listeners to think about past "gurus" and look at where they are now. He suggests an easy way to tell the success of past marketers by asking two simple questions.
James next directs the topic to meetups. Dan is the Founder of the Vancouver Entrepreneurs Group. He shares what led him to starting up the group, and explains why it is not a money-making venture for him.
Dan goes on to tell listeners that education is the new marketing. He remarks that people who go to a meetup or listen to a podcast only see the final product, and reminds that there is a lot more work that goes into these events that people do not see.
Finally, James and Dan talk about the benefits of delivering value up front. He discusses the concept of inspiring people who love buying to purchase what you are selling without pushing sales pitches down their throats.
Speed Round with Dan Lok
James presents Dan with a series of ten questions in a segment that he's dubbed "The Speed Round".
Then the two go on to talk about what they enjoy most about having successful online businesses. Dan shares that enjoys the freedom, and discusses how he feels your comfort zone relates to your income zone. Dan also reveals what he likes to do for fun in his spare time.
Finally James asks Dan the most rewarding thing he's been able to do for someone else because of his success. Dan's answer is deeply personal and involves his father. He wraps up the episode by sharing his contact information, listed below.
Wikipedia - http://en.wikipedia.org/wiki/Think_and_Grow_Rich