Who is Dan Lok | Life of an Entreprenuer — Part 1
Who is Dan Lok | Life of an Entrepreneur — Part 1
Before entering into the journey of Dan Lok, first we can see where we stand. Many of us have entrepreneur dreams and may be even working hard towards that. For their surprise, success is a distant star. At the stage of repeated failures and without sensing the taste of success many leaves the epic journey of entrepreneurship and find it hard to fit into the routine life of 9–5.
If you were this kind of people, this piece of information is going to fuel your life and to regain your hope and make you feel the best in your moves and achieve great in your lives. Here, we are going to discuss each and every point about Dan Lok. He has passed through several stages, before becoming a multi millionaire. You may be struck in any of these levels what Dan Lok faced or you may get interested in entrepreneurship after reading his full story.
Main thing to remember and take away from this article is, “Dan Lok is not a super human or born talent, he is just like you and me, a common man like most of us from a humble background. Today he is a multi millionaire and internet influencer. In some day, you too can become a multi millionaire or the most successful people in the world. Choice is yours! Let us share the path followed by Dan Lok for now and give us a chance to share the path followed by you by making your own history of success. Like his life, your life will be a role model for millions or billions of people.
Let’s jump into the journey of Dan Lok.
Who is Dan Lok?
Dan Lok is a millionaire entrepreneur, speaker, consultant, best-selling author and one of the world’s leading experts in Internet marketing.
Known as “the king of high ticket sales,” he has created a network of multi-million dollar companies. He teaches people around the world, how they too can build 7-figure business empires.
Immigrant to Canada from Hong Kong:
Dan moved to Vancouver, Canada as an Immigrant along with his mother at the age of 14 from Hong Kong, China. Moving to Canada was not his or his family ambition but they where in the worst situation to move from Hong Kong to Canada. Dan’s father and mother had some relationship problems and Dan’s mother decided to move somewhere away from Hong Kong. At that time, Dan’s behavior was also not good. He has been charged several times by local police in Hong Kong, because of his wrong friendships and his neighborhood situations. Police warned Dan’s mother to move out of Hong Kong considering the future of Dan. So, his mother was in a position to take a hard decision to leave Hong Kong and moved to Canada to start a new life.
Life of Dan in Canada:
Though Vancouver is a beautiful sea side city with largest population in Canada, Dan was struggling hard to speak English in his High School. He will feel very shy going to school where he can’t even speak a single word in English. He was from a Chinese background and found hard to learn English.
Further the situation became more worse. At the age of 16, Dan’s father and mother got divorced. At that time, Dan and his mother was living in a small single bedroom apartment. After some time, his father went bankrupt in Hong Kong and didn’t send them any money. Now, Dan want to be self reliant. He saw the hopeless look from his mother eyes and decided to end the suffering of his mother. “At that moment, he decided that he would be successful. He didn’t need his dad, he would provide for his mom. He never wanted to see that look again.” His mother had limited work experience, so, Lok supported them by working part-time at a grocery store for minimum wage. Stocking shelves was Lok’s first and last “traditional” job.
Dan’s Business Journey:
“I was told that I was unemployable because I don’t like being told what to do. I cannot disagree with that statement.”
– Dan Lok
First Business:
Dan’s first business was a lawn mowing business. And he discovered it “accidentally”. He was jogging one day and saw an old man struggling to mow his own lawn. Dan offered to help him and the man agreed. After Dan was done, the man gave him $20. That opened up his mind.
So, he thought of how he could turn this into a business. But first, he had to get a lawnmower. So, he went to the old man to strike a deal for the lawnmower. He asked the old man to let him use the lawnmower and he would mow the man’s lawn every week as rent. The old man agreed. So, Dan got a lawnmower and started thinking of how to get customers.
Dan’s aunt had a business and was making flyers (Advertisement notice) to give out. And Dan saw an opportunity there. The ads were printed on one side of the paper only. So, he asked for his ads to be printed on the other side and in exchange do the work of distributing the flyers. Dan had his way again and went around the neighborhood slipping the flyers under the doors.
He felt so confident in his marketing that he told his mum that the phone was about to start ringing off the hook. To Dan’s disbelief, no call came. After waiting a week, he thought to himself how he got his first customer so he can replicate it to get more. So, he decided to do what he did that got him started. He went to the neighborhood with tall grasses and mowed them and waited for the owner to return and for the surprise the owner was happy to see her house cleaned and she gave Dan $100. Thus Dan went to other households and done the same thing and started his first business.
Hard hit business:
Dan after completing his High School went to Douglas College for Business Management Studies in full time. But he eventually tries all the possible business he can do to earn money. Dan worked briefly as a grocery bagger, but he found it unfitting. Shortly after having a taste of business, he got drawn into the online world of selling. He sold stuff on eBay.
He thought his neighbor had enough knowledge in internet. So, Dan asked him for help to setup his online business. For financing his business, he took credit cards and paid the neighbor for the work he does. The neighbor gave him lot of confidence and Dan started to invest more in online business by getting more credit cards.
One fine morning, Dan went to his neighbor apartment to visit him and there was no evidence of human survival in the apartment. Then Dan came to know that his neighbor flied with his money somewhere. It was a hard hit business and a strong business lesson was learnt.
In a business, we should have at least some knowledge about what we are doing and should not depend entirely on anyone unknowingly. From that point Dan started to read books and skills for online business. And the very worst scenario is that Dan had a huge credit card debt because of the failed online business and want to repay it back.
Decision made by Dan after the hard hit business:
At just 20 years old, Dan Lok was already $150,000 in debt. Over three years, he launched 13 businesses from vending machines to delivery services and day trading and every single one of them failed. He came to know that his minimum wage routine job is not going to help him to repay his debt. Anyway he want to do the business to come out of the debt and he don’t want to make his mother suffer. He knew he would be better off as an entrepreneur, even if it took a decade.
“I never gave up because I couldn’t afford to quit — and if you don’t quit, then you can’t fail.”
– Dan Lok
Dan’s eye opening mentor:
After Lok read Claude Hopkins’ book, “Scientific Advertising,” he became obsessed with marketing and soon discovered marketing expert Alan Jacques. Lok studied his sales letters and attended his seminars, where he met Jacques in person. Dan called Jacques for lunch and fixed an appointment to meet him in person. Dan asked Jacques to mentor him. But Jacques declined to mentor Dan.
Picked trash for his mentor:
Dan was not disappointed for the rejection by Jacques. Dan daily went to Jacques office everyday until Jacques hired Dan.
“I visited his office every day for about a month. I did everything possible to demonstrate my willingness to help including picking up trash around the office until he finally hired me.”
– Dan Lok
Lok dropped out of college to work for Jacques. The 21 year old spent weeks crafting his first sales letter, only for Jacques to tell him it was terrible. Lok rewrote it seven times before Jacques was satisfied. Jacques later confessed that the first draft was “OK”, but “OK” isn’t how you master anything.
Jacques gave Dan 3 conditions:
No excuses
No opinions
No victims (meaning no blame game)
Though Dan didn’t get that much money for the past 12 months working there but Dan called it as a “Million Dollar year”. This mentorship with Jacques introduced Dan to the world of copywriting. Copywriting became the first high-income skill Dan mastered.
First Success of Dan:
Dan worked for Jacques doing odd jobs around the office and learning. Jacques began teaching him how to write a copy. Dan soon got the hang of it and started writing copies for $500.
Once Dan was feeling comfortable with copywriting, then Jacques told Dan to increase the price. Dan thought of increasing it to $600. But Jacques told to keep it for $1000. Dan was bit doubted anyhow managed to give a quality content for $1000 and made a deal with the customers. Dan was feeling happy.
Not too long afterward, Jacques told Dan to double his price again. This time it really shook Dan’s mentality. But he quickly adjusted to that level again. Jacques kept pushing Dan to increase his price making him uncomfortable every time. Finally Jacques told Dan to increase his price for $10,000.
This totally blew Dan’s mind. He couldn’t even mention that amount of money without a stutter. So, Jacques advised him to go home and practice asking for $10,000 in front of the mirror.
The time came when Dan was on the phone with a client. And the client asked what the price was. Dan says $10K. The client was bothered because the one who referred him to Dan told him $4,000. Dan says that it was used to be the price but it has now changed. Plus, the work with the client would take more time and effort. So, the client proposed 50% down and 50% when the job is done. And Dan says that is the arrangement he prefers also.
That was Dan’s first $10K client and others kept coming. Dan would work with 1 or 2 clients per month. This was Dan’s introduction to what he termed the world of high-ticket sales.
Under Jacques’ guidance, Lok started a one-person advertising agency, and within 12 months his clients were generating millions of dollars from his sales letters. By 22 years old, Lok commanded $10,000 per project and was comfortably earning six figures.
“The mentorship from Alan Jacques truly changed my life. That’s why I choose to mentor young entrepreneurs each and every day.”
– Dan Lok
Worthwhile struggles:
Finally, Dan could now afford to his mother and he don’t want to go for the routine work of 9–5 now at grocery store. He paid his debt of $150K which got through the online business failure. Then Dan bought a home to his father in Hong Kong. The look on his father’s face made all the struggles worthwhile.
This is not the end of the story of Dan Lok. Now only the actual story begins. How Dan Lok managed to become a Millionaire at the age of 27 years? What were his strategies and investments? What skills he practiced to reach that level? Then how he finally managed to become multi millionaire at the age of 30 years?
Key take away:
1. Dan’s life changed when he met his first mentor. He still says today that the fastest way to succeed is to have a mentor.
2. Dan worked practically for free with his first mentor. He worked to learn not to earn.
3. Dan constantly improved to take his skills to the next level. Even today, he still goes to events and training to learn (without being a speaker).
Sounds amazing!!! Keep the josh and continue reading our upcoming articles.
Real secrets are revealed in the future articles of
How Dan Lok managed to become Millionaire at the age of 27 years
How Dan Lok managed to become Multi millionaire at the age of 30 years
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