3 Simple Steps To Systemize Your Business – Systemize Your Business Ep. 4


– [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. (dramatic music) – Three simple steps to
systemizing your business so that you can live
the life that you want. So step number one. You want to describe
your perfect business. What do you want to do? (audience responds describe) Describe your perfect business. So let me give you a moment. Please, get a piece of paper or a laptop. I want you to describe
your perfect business. And this may be, for
some people in this room, the first time you think about this. What would it do? And just write down
what comes to your mind. What would it do? How big would it be? Do you want to grow a massive company? Or do you want just, you know,
I want a lifestyle business. Or do you want something in between? Or do you want to get involved
with a bunch of businesses, or do you want just one big
company? How big would it be? What type of products and services or projects would it be known for? Okay. Write it down, please. What type of products and services and projects would it be known for? And how would it be unique and different from the competition? How would it be unique and
different from the competition? And what type of customers would you want? What type of customers do you want? What kind of customers bring you joy, bring you satisfaction,
that you want to work with? And it shouldn’t be everybody. And how much money would it make? How much money would it make? How much money you want it to make. Revenue, or your profit,
your take-home pay. How much money you want the
business to make for you? And, the key here is to
be as honest as possible. It’s what you want, not what other people think you should want, not
what your friends told you you should want, what the media’s told you that you should want. What do you want? So it’s like Ryan. I said, you know what? That’s what I want. Ryan Lee,
that’s what I want. Period. I don’t care, Gary Vee, other,
I’m not interested in that. How much money would it make,
and what would it do for you? Yeah. What do you want a
business to do for you? Would it deliver peace of mind,
security, freedom, and fun? Would it deliver peace of mind,
security, freedom, and fun? So what would it do? How big would it be? What type of products and services or projects would it be known for? How would it be unique and
different from the competition? What type of customers you want? How much money would it make?
What would it do for you? And would it deliver peace of mind, security, freedom, and fun? Let me give you a couple minutes. Your perfect business. And don’t let your little voice stop you. Your little voice might say, “Well I don’t know how you
can do that. It’s impossible.” Or, “You can’t do it.” Don’t listen to the
little voice for a second. Just say what do you want. If anything is possible, what do you want? 30 seconds. Okay. Stop. Let me ask you a question. How many of you are very
clear, like crystal clear, of what you want your perfect
business to look like? Okay. Interesting. How many of you like, have some ideas, but you’re not 100% clear? Okay, so some room. Some
room for improvement. Here’s the deal. If you’re not clear about
what the perfect business looks like, what you’re creating, then how do you know
when you’ve succeeded? How do you know you’ve arrived, when you are hitting a moving target? How would you know? It’s
like if I’m a sculptor. I wanna sculpt this piece. Sculpture. But I have no idea what the thing is gonna look like when it’s done. Is it gonna be a man,
is it gonna be a woman, is it gonna be an animal? I have no clue, but I
just kind of sculpt away. Hopefully something will
turn out to be good. Versus, you know what,
I have a clear picture. This is the picture that I wanna create. When it’s done, this is
what it’s gonna look like. Let me follow that. I wanna do, a big piece here,
there, okay. I’m doing that. You gotta think of your business
as a product. As a what? (audience responds product) That’s your product. And we will talk about how you
create a sellable business, well I just sold one of my
companies last month, right? A couple months ago, and you know, for a good chunk of money. Because I created that
as a way, you know what, that’s what I want it to look like. And you know when it’s done, it’s done. Example, you know what, I want a business that makes me x amount of money, I only want it to have so many customers, I want to only work no more
than so many hours a week, and I want to have a very
competent person running it. That means I need to hit
this kind of revenue, in order to pay for this
person’s compensation and salary. You’re creating something.
Does that make sense? You’re creating something. Yes? – [Audience Member] What
business did you sell? – I can tell you in private. I don’t wanna say on the camera. And so, think about that.
Just think about that. Your perfect business.
That is your product. When Ray Kroc goes to work,
the founder of McDonald’s, when he bought the McDonald’s
from the McDonald’s brothers, now McDonald was not founded by Ray Kroc. It was founded by McDonald’s brothers. They’re technicians, making the new shake, flipping the burgers. Ray Kroc, with the
vision, goes in and say, “This thing is cool. Maybe
we can open more shops. “How about you let me do it?” The McDonald’s brothers
said, “Sure. Have at it.” And Ray Kroc took that
and opened up so many, so many stores. So many stores. Ray Kroc, day one didn’t go into McDonald’s and flip burgers. Ray Kroc never flipped burgers. Day one, he went to not
work in the McDonald’s, he went onto work on McDonald’s. Not in. He knows, I’m trying to
create a franchise prototype. I want to create a business
that makes a ton of money that I can duplicate worldwide. Day one. He’s not trying to go in there, “Let’s see how I can
make a better hamburger. “How can we make better
french fries?” Nope. How can we make this that can run by people with very little education, very simple training, and we
can start it off like that. What business is McDonald’s in? (audience says real estate) Very good. Real estate. And the franchise is a way for them to make money so they
could acquire real estate and have all these
tenets paying them money. That’s the vehicle. One smart guy. What can I say? One smart guy. At the same time, other people started the same hamburger restaurants and joins same time as Ray Kroc. Joe’s Burgers. Michelle’s French Fries. And they remain one shop,
for their whole life. Because they never took the time to develop the business skills that it takes to make a business work. They just keep doing the
stuff. Think about it. So let’s build an on-purpose business. The purpose of, write this down, the purpose of owning my business is. Please write that down. And
then we’ll take a break. The business of owning my business is, just fill in the blank. The purpose of owning my business is… My business will allow
me to, fill in the blank. My business will allow me to…
So that I can enjoy, what? And have the ability to do, what? Time to get clear. The purpose of owning my business is what? My business will allow me to
do what? So I can enjoy blank. And have the ability to blank. That’s an on-purpose business.
That’s not a moving target. And don’t, try not to filter the answer. Whatever comes to mind,
your first thought, usually that’s the truth. That first thought.
That’s usually the truth. And after you think about
it, you overthink it, you filter it, that may
be further from the truth. So whatever comes to mind.
Will allow me to do what? So I can enjoy what? And
have the ability to do what? If you’re crystal clear,
then you may be thinking, maybe your business doesn’t need to be as big as you think it needs to be to give you what you want. Because there’s a big difference between if you wanna make, a million a year, or half a million a year versus
making 10 million a year. The price that you have to
pay, it’s a big difference. The price you have to pay to get there. It’s like, do you want to be a good enough swimmer to win local championship? Or to win just tournament
in a provincial tournament? Or do you want to be an Olympic athlete? The price you have to pay, differs. And most people, I think for most of us, you don’t necessarily have to,
“I want to win the Olympics.” You know what, I’m pretty happy. In YMCA, I beat everybody else. I’m happy. I don’t need to be like that. I just, hey, you know, I make enough. That’s cool, and I can beat
the 70 years old. It’s cool. You know? Good self-esteem. (laughs) It’s whatever the goal is.
Whatever the goal is. Okay? Owning my businesses, allows
me to, so I can enjoy. So how many can see that business
is just a vehicle? A what? (audience says vehicle) To get you what you want. It’s never meant to consume your life. The challenge is most entrepreneurs are consumed by their business. They’re consumed by their business, when it’s actually just a vehicle to get you from Point A
to Point B. That’s it. That’s why I’m not attached
to any one of my business, except maybe my coaching business. But, any one of my companies, with the right price, I would sell. I’m not attached to it.
It’s just a vehicle. I love what I do, but I
could sell the business. Versus this is my baby!
I’m not gonna sell! This is it! I’m gonna hang onto it! No, as entrepreneur we
can always create. Yes? You can sell and you can
create something else! It’s in our DNA! You
can’t help but create! How many of you sometimes
when you’re showering, you’re doing some other
things, you’re out there, you’re out there, you’re
thinking about business? You can’t help! It’s in
our DNA! So it’s okay. Trust me, you sell that thing,
with you know, a lump sum. You will find things to
start and do. Guarantee. Probably the next day. Something. Oh let’s do something
else! It’s in our nature. It’s our nature. So let’s take
a 10 minute break. How long? (audience says 10 minutes) I’ll see you in 10 minutes. So, what have you learned from my talk, and how does it apply to you? And how do you take direct action? Comment below and let me know. If you have any other questions, you can also comment below. And don’t forget. Click
on the subscribe button. Turn on notification and hit the bell. So every single time I upload new video, you will get notified. If you want to watch my other videos, make sure you can check
them out on the left. You can check out all the
other videos that I have. We have hundreds of videos on YouTube. You want to expand on
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57 thoughts on “3 Simple Steps To Systemize Your Business – Systemize Your Business Ep. 4

  1. Hi Dan. I've just finished your F.U money book. It was eye-opening. What do you think is better for first time entrepreneur: mastering a small market first so that you can make money now or working on the big market right from the start to make much more money in the long run. I'd love to hear your thought. Thank you so much!

  2. What are you are missing in systemizing your business?
    Do you know what your perfect business is?
    Share your insights below about this video.

  3. just found your channel, started with your 4 types of customers video and quickly subscribed and saved some of your playlists, thanks for all you good work helping people, btw if you could only give your child 3 pieces of sales advice (besides increasing the number of contacts) what would your advice be?

  4. My answers (I'm already building it):

    * SAAS platform for logistics
    * It will always be small. Me and an outsoursed tech team. I hate corporate structures
    * It will be unique because it is designed and built by me. I have over 30 years of tech experience and clients love the way I build software. It will forever target medium sized businesses because they are easy to deal with. Large companies suck
    * 50K a month is more than enough. I can't be idle so I will also be able to work whenever I want and I will be able to travel whenever I want
    * I don't need to be a zillionaire. This will be a total lifestyle business, easy to do and with recurring passive revenues for the rest of my life

  5. Hello, Dan! I've been enjoying watching your videos and listening to your podcasts for several months. My question is – What's your process for finding the right people who will do the right work?

  6. It is important to have a clear picture of the business I want to create, or else how will I know I have gotten there? I noticed it is also helpful to temporarily turn off the little voice inside my head and to go with my first instinctual answer to get the most truthful answers. I realized that while I want to help people, I also want to generate great wealth in the process. The two goals can go hand-in-hand if I design it the right way. The more I watch your videos, the more I learn. Thank you, Sifu Dan!

  7. Good sharing Dan. Thank you for the inspiration. Love that DNA part, feeling the same here. BTW I actually bought FU money coz I want it in Audible 🙂

  8. This was one of the best videos of u Dan now whenever I come up with an idea I can just ask these questions to myself and start sculpturing my idea to turn it into a business once again thanks man 🙂

  9. Dan-
    Just a quick note that I listen to your videos every day in the truck in between jobs and traveling. Your advice has helped me go from 110k to about 165k in 1 year. 2018 I'm looking to reach 225k. Just want to say thank you! Is there a place I can go to see a schedule of conferences? I'd love to personally attend one sometime. I live in Florida and own 2 businesses amd looking to start my 3rd in February. Thanks for all the motivation and instruction.
    Eric Thompson

  10. Hi Sir,

    you have great knowledge but its have value but what about those who never have capacity to pay have strong will power to learn

    advise me books which help me to systemize business

  11. Yup thank you for this Dan Lok.. Yes you are right Business is just a Vehicle.. To move you from Point A To B.. And I think this also suits with my personality i.e., I can't keep doing the same thing over and over again.. life is full of adventures and I Just wanna try different things (I mean business here) I want to push myself.. Forward.. keep testing.. My Limits.. For Now I am planning to Create Digital Advertising agency In India using all my Sales and persuassion Techniques that I have learned so far working at my Family-Jewellery Store… And ya also using all the QLA Materials available on the Dan Pena Site.. ..
    And then Yes I am Gonna Sell it.. And work On my next idea.. Thank you again …YOU ARE FANTASTIC…!!! KEEP ROCKING THE YOUTUBE!!!

  12. Hello ,
    I would like to know following questions once we are clear with business

    How to do marketing for coaching business.

  13. This is awesome. Creating a target that is not simply numbers is so empowering. I also love the idea of business as a vehicle not a lifestyle. If I start a business and sell it for the right price, then I can do it again with no shame.

  14. My takeaway came near the end of the video. Dan talks about selling his businesses. And how he will sell and create more. My business is at a point I could sell it. But without a clear vision on what’s next, it likely wouldn’t be the best move to sell, yet.

    I’ve got some inner soul searching to do. Really find out what I want, and go from there.

  15. dan
    your speeches are in a very deep philosophical level and i really aprecciate this.
    it cant be closer to truth and reality than this
    and im someone that just entering the bussiness world
    my best regards to you

  16. Hi Dan – I find your advice practical yet thought provoking. I've got lots of work to do still but you've really opened my eyes to the reality of the life I want. Great job!

  17. Hi Dan – I find your advice practical yet thought provoking. I've got lots of work to do still but you've really opened my eyes to the reality of the life I want. Great job!

  18. Sifu Dan, can we have different types of business on mind? Will it be feasible to do it same time and what are the success rate? Thanks

  19. Hey Dan, I absolutely love your videos, and I just started reading FU Money. I have to admit I'm a late bloomer. I'm 53 years old, and I am starting my own business after years of killing myself for peanuts. Your advice and guidance has put me on the right road to a very bright future. Life finally makes sense. Thank you.

  20. I like what Dan said that it is in the dna of entrepreneurs to create another business. It is their nature. He also said not everyone are really into business. I know that I am not a natural entrepreneur. I do like to create and solve problems but not really to monetize my ventures. I am like scientist or an artist who can invent or create but do not really know how to sell our creations. The reason I am watching Dan's videos is not because I will have a business of my own but to know how to market myself so that I can survive after being unemployed at an age that won't really open doors for me. Being self-employed is not really a business and I learned that by reading Kiyosaki.

  21. @Dan thanks boss. One question: are you a serial entrepreneur or one business entrepreneur?

    I mean people tell me I should stay in retail business for the rest of my life because that's what people like Steve jobs, bill gates etc. Did…..

    Can you please direct me?

  22. Thank you Dan so much.. i have been watching your videos every morning since i discovered it. You inspire me a lot. Im more confident day by day and its all because of the knowledge i accumulated from it… please never stop making videos.

  23. I just discovered you Dan Lok! I Just sold my business and starting a new one! I’ve always had the motto “everything is for sale for the right price”.

  24. You’re a mix of confidence.. honesty.. practicality.. reality.. smart..Symtematic.. and humor. I love this person.. you are a perfect description of what is “cool” for me.

  25. Create a big consulting firm with great policies and procedures so I don’t have to be my whole day at the office.

  26. Do you have to be detached from your businesses to get to your FU Money mark, or can you have a bunch of revenue generators (mostly residual) with their own business plans and systems under one business/brand/core skill and still get there?

  27. 3 Simple Steps to Systemise My Business

    BUILD AN ON PURPOSE BUSINESS

    Step 1. DESCRIBE YOUR PERFECT BUSINESS
    – how big
    – what would it do
    – what would it be known for
    – what prod and services would it be known for
    – how would it be unique from competition
    – what type of customers do you want
    – how much money do you want to make
    – what would it do for me

    Would it deliver peace of mind, security, freedom and fun?

    WHAT DO I WANT?

    Let me ask you a question? How many of you are really clear?

    If you’re not clear… how will you know if you’re successful?

    Vs.

    This is the picture of what i want

    YOU GOT TO LOOK
    AT YOUR BUSINESS AS A PRODUCT.

    When its done, it’s done!

    To build this business successfully and have a excellent person running it.

    Ray Krok. Took Mc Donalds didnt flip burgers, he worked on how to duplicate this business run by people with low school.

    Other people build one burger store.

    THE PURPOSE OF OWNING MY BUSINESS IS…

    My business will allow me to..

    … so i can enjoy

    —- and give me the ability to

    THATS AN ON PURPOSE BUSINESS NOT A MOVING TARGET.

    Go with your first thoughts…

    What you want may change what your business is

    Business is vehicle to get you what you want.

    I could sell any of my businesses

    Its in our dna we cant help but create…

    You sell one. You’ll do another one

  28. Wow Dan, so amazing all this FREE resource! So generous! Thankyou.

    You may have noticed i’m posting notes of your videos as i listen and learn from them… lol.

    I’m doing it as a way to keep myself accountable to finish this series.

    Love the content. So generous.

    Thanks Man!

    Love from Gold Coast Australia… you need to visit us here one day…

    I’m sure you have thousands of fans in Australia who’d love to host you here!

    Cheers Dan💪🏾💪🏾

  29. I'm not sure at all what kind of business I want. I just want to make a lot of money. A valid question would be "How much is a lot?" – 15 million dollars.

  30. What did I learn: Business is just a vehicle to my dreams of financial freedom where I can do whatever I want with whomever I want without financial freedom
    How do I take the right action: Do the exercise again to be more clear on what I want in my business and for my business

  31. The thing I am going to do right now must have been done on the very first day while starting my business. Thank you for showing the way!

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