Million-Dollar Coaching & Consulting Model – The Art of High Ticket Sales Ep. 3

Million-Dollar Coaching & Consulting Model – The Art of High Ticket Sales Ep. 3


(strong music) – [Announcer] 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. – Now the other day I
was having a conversation with a friend of mine. We haven’t talked in years. And he’s a very, very, very well known internet marketing guru. If I say name, you’ll
know exactly who that is. Most of you would know. But he’s a very well known marketing guru. Very well known. And we talked about,
hey you know what Dan, what have you been up to? What have I been up to? Kind of a two alpha males
bragging about success. How many of you do that? You get on the phone and brag
about your success, right? Hey, so what have you done? And what have I done? Accomplishments in 2016, right? So, and then I found out, you know what? That is very very interesting. That we talk and what he’s up to and how much revenue I’ve made. What I notice is, his net profit, his net profit, from his coaching and consulting business, is only 10 thousand dollars more than my net profit. But here’s the difference. He has over one hundred thousand subscribers on his list. He writes a daily email to his list. How many of you are on
some of those lists? That you get a daily email or multiple emails a week, right? He has 72 hundred plus paid customers on his list. That includes from trial
offers, one-time offers, low ticket offers and membership, et cetera, et cetera, et cetera. He has nine sales funnel, four webinars, and 20 Facebook ads running all at the same time. All running at the same time. He’s spending tons of
money and effort developing leads and converting less and less of them and that’s why he was
kind of complaining like, “I’m spending all this
money on Facebook but it’s converting less and less”. He has over 20 plus
independent contractors that are working on his
business, on his stuff. He works 10 to 12 hours a day, six or seven days a week. He takes half a day off on Sunday because he goes to church. Half a day off on Sunday. And he’s already, as we were talking on the phone, already planning for his product launch in March and September. Trying to get affiliates on board because that’s how he makes his money. I call that the product launch hell. Cause every time he make money, makes a bunch of money, and then the sales drop and he has to do another product launch. Get a bunch of affiliates on board, and do the same thing
again and again and again. Now we both generated more
than seven figure in revenue from a consulting
coaching business in 2016. Now I’m not talking about
my product business, or my eCommerce business, or my investments. Strictly consulting and coaching. What refer to, if you’ve been with me
for any period of time, my high-income skills. Yet his externally successful business generated only 10k more net profit than my little part-time, high-ticket business. And I only have 42 clients and members. Now is there a difference
between serving 72 hundred customers versus serving 42 clients? You better fucking believe it. It’s a whole different info structure. It is different structure. And that’s what I want to
share with you tonight. So here’s a very profound question. Please write this down. How can you hit your
income goal and live a life of total freedom with fewer clients? How can you hit your
income goal and live a life of total freedom with fewer clients? Because as an entrepreneur we are taught, we are conditioned, even from magazines and media, more, more customers. More sales, more revenue, bigger office space. More market share. More and more and more. And my question is why? Why? Why do you want more? And is more necessary better? More is just more. More doesn’t mean it’s better. And you notice, even you read magazines like Inc. 500, and you see even the fast company, all those magazines, they all praise about, oh this company is
growing at 20% every year. And that’s great, but why? Does it actually serve you? In terms of your business, in terms of your life? Or are we just growing for the sake of growing more? Or is it actually purpose driven, lifestyle driven? Or is it just ego driven? So that’s the first question. How can you hit your income goal and live a life of total
freedom with fewer clients? So I wanna give you two minutes. Hello. Discuss among your table
what I’ve said so far. Go. So the question is, whatever income goal you have in your mind just for brainstorming If you think it takes you one thousand customers to hit that, what if you could only get a hundred? How will that affect what you do, how you market yourself and how you run your business? And instead of one
hundred, what if it’s 10? What would that look like? And instead of 10, what if it’s just one? What would that look like? What would that look like? And I kinda accidentally
discovered this when I had my first partnership
with my partner whose in the eCommerce business
in the jewelry business. And I partnered with her and
was one client, one partner. Then I help her develop
her eCommerce strategy, build the website, drive traffic. All the stuff I typically do. And at first we were talking about she would just pay me a fee. I said well that’s okay but, I don’t really want to do this. Eventually we striked up a partnership, a 50/50% partnership. And I’m glad I did because it turns out, the business took off and made millions and millions and millions of dollars. I calculated if I actually just took the flat fee, I would have left a few million bucks on the table. That was a good piece of
paper agreement, right? So one, how can you deal with just one? Or two or 10? So whatever numbers your
thinking at the moment that you think you might need to hit to get to your income
goal, just brainstorm of, well you know what if I
just have fewer client? What would that look like? Just what would that look like? And I want to share with you how this methodology has affected my life. It’s not so much about
just charging more money, cause some of you might be thinking, well Dan, does that mean
I just charge more money? It’s not just about charging more money. Any moron can charge more money. It’s not charging more money. It’s charging more money and have your clients thank you for it. And there’s a difference. It’s not about being greedy and say just charge more. That’s not what I’m talking about. (inspiring music)

33 thoughts on “Million-Dollar Coaching & Consulting Model – The Art of High Ticket Sales Ep. 3

  1. Fewer clients will be very satisfied for an example, clients who buy luxury brands like Lamborghini are few but very happy with their products. When you have few clients who are willing to pay premium and are happy with the product and service

  2. definitely the right approach. I'd love to start something on my own with few but high paying clients. Need to find a mentor in Switzerland

  3. Mr. Lok–I really love the way your present and give guidance for entrepreneurs. I enjoy the practical approach you have to business. Yet the beauty of your message also teaches how to think out of the box–stop living in broken mode. I appreciate all you do.

  4. One question that is liberating for my brain: "How can I charge more money and have my clients thank me for it?" It makes charging more a win-win.

  5. I like that you point out the media is always telling us more, more, more. It's very true that in the silicon valley bubbles there is a time where all they care about is explosive growth. Then when the pendulum swings to see what companies are hitting their "magic" number and are at an actual profit. The growth companies usually look bad. Usually it's the smaller companies with good customers that win out.

  6. a higher quality product for fewer clients, it seems like the clients would be more pleased with this method and have greater value delivered (HTC group 3)

  7. You will be able to be more effective for fewer people, you won't be spreading yourself thin.

    You can focus more time on the reduced number of people you have. Being able to do a much better job and your clients will be happy to pay you the higher fee.

  8. I will hit my income goal with just one client for my high income skill. Once that is mastered, I only need two clients for my own business to double my income.

  9. "It's not only about charging more money. It's about charging more money and have your clients THANK YOU FOR IT" Never heard something like this before, but makes total sense. If the value of the product or service really is astonishingly good or it solves a hugely aching problem, then people won't care about the price, they will only want the pain the be gone, and will choose you to help them.

  10. This message is straight on, bulls-eye! I always say to my colleagues "Less = More" but they don't understand… They want more sales, more profit, more clients… While I prefer less clients, higher prices, who get more value and are very happy to hire you again. I don't know how to apply this very useful insight for my own… kinda struggling with this, but I believe this is really essential.

  11. I would love to really bring value to my clients and charge a higher price than selling more low-end products or services to clients who won't even appreciate what you do for them. I want to have more clients who would be so thankful that you've given them the best that you've got.

  12. I always believe in quality not quantity, like you said more more is not a good philosophy for business, make a good quality product and sell it expensive instead of bad quality and a lot and sell it cheap , that’s why we are having more stores closing right and left in USA. My business is about quality and I sell expensive.

  13. Hey, Thank you for awesome content, can I ask for PPT that your running on the screen Dan ☺️

    Please share with everyone.

  14. Less is more! It's not about charging more it's about charging more money and have your clients thank you for it, wonderful sifu

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