071 – Hire Motivated People and Then Inspire Them, with Dan Lok
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Dan Lok, A.K.A, The King of High-Ticket Sales, is one of the highest-paid and most in-demand consultants in the luxury and high-ticket space. Dan is the creator of High-Ticket Millions Methodology (™), the world’s most advanced system for getting high-end clients and commanding high fees with no resistance.
He works exclusively with business coaches, consultants, executive coaches and other service professionals who want a more sustainable, leveraged lifestyle and business through high-ticket programs and equity income.
Dan is one of the extremely rare keynote speakers and business consultants that actually owns a portfolio of highly profitable business ventures. Not only is he a two-time TEDx opening speaker, he’s also an international best-selling author of over 12 books and the host of the Shoulders of Titans show.
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Dan Lok Interview – Key Takeaways:
- 2:00 Dan Lok’s Career Path
- Dan shares how he when from starting his first business in high school, after immigrating to Canada at 14 years old, to having ownership in 21 companies, 18 of which he current holds ownership in today.
- Dan describes himself more as a concept guy, a deal-maker, and a salesperson rather than a traditional manager
- 4:21 How Do You Learn To Lead If You’ve Never Had An Example (Good or Bad?)
- 5:59 “First, when I hired people, I thought everybody would be like me”
- 6:38 The one thing that Dan thinks makes him an effective leader – Understanding Human Psychology, Understanding People
- 7:34 Is the ability to understand people learned or natural?
- 8:28 “People don’t do what you expect. People do what you inspect, with respect.”
- 11:51 Help people get to their potential
- 12:30 Not everybody is ambitious
- 13:25 – Some Advice on Hiring and Managing Employees
- Start by telling a candidate why they shouldn’t work with you
- 14:28 – 3 strikes and you’re out. Verbal warning, written warning, and you’re done. I don’t fire people, people fire themselves
- 15:08 “Nobody likes underperforming”
- 17:55 – How do you motivate your employees? Don’t. Hire motivated people.
- 19:00 – Get to know the people behind the performance. Help people understand the correlation between performance at work and personal achievement.
- 19:40 Dictatorship versus Management by Consensus
- Find balance. Manage by persuasion. Dan finds out his employee’s needs, their personality type and then he structures all communication around those things.
- Hire motivated people and then inspire them
- 24:03 There are only 3 Types of Employees
- The Grunt – It’s about the labour
- The Mercenary – It’s about “What’s in it for me?”
- The Patriot – It’s about the opportunity
- 26:38 Inspection and Micromanagement
- Micromanage to a certain point.
- Manage people based on who they are, not everyone can be managed the same way
- 28:48 On Hiring: How you do anything is how you do everything
- Ask for a video resume
- Set up the Doofus Test
- 33:19 Rapid Fire Questions for Dan Lok
- Who was Dan Lok’s Best Manager?
- Dan Lok’s Book Recommendations
- What’s exciting Dan Lok Today?
- Less, not more because less is more.
- Right now, everything for Dan is about fulfillment, quality, and impact now.
Additional Info, Links & Resources Mentioned:
DanLok.com – Dan Lok, a multimillionaire and serial entrepreneur, and an international best- selling author.
Shoulders of Titans Podcast – Conversations With Today’s Most Inspiring And Successful Entrepreneurs.
Free Management Course: Fully Engaged in 10 Days – Learn Three Critical Components to Increasing Employee Engagement on Your Team