text:
– By show of hands how many of you want more income in your life put that way up and say yes! – [Audience members] Yes! – How many of you don't
just want more income, you want more passive income, put that way up and say oh yes! – [Audience members] Oh yes! – Now first of all I
want to thank Jennifer, give her a round of applause
for putting this together. A lot of friends and
Jennifer's been inviting me to come to the Fraser Valley
and her friends on Facebook George, and say "Hey you
know when are you coming "to Fraser Valley?", because
usually I do most of my work most of my teaching at, through my Vancouver Entrepreneurs Group where we meet every second
Wednesday at Vancouver Club. And so, and I believe that's a way for me to give back to the entrepreneur
community for Vancouver because Canada has been so good to me and I do my teaching there
every second Wednesday, I don't sell anything there. Whatever I collect in admission barely covers the venue cost, but I do it every two
weeks, every two weeks. So today would be quite
interesting because I did this talk this workshop in a couple of months ago and it was a three hour workshop. So I'm trying to give you
three hours of content in about an hour okay, about an hour, so I'll do my best, I'll do my best. Now also at the end of my presentation, I'm gonna give you a copy of
my book, FU Money for free, (clapping)
who wants it by the way – [Audience members] Yes! – Put it nice and high,
nice and high so I can see, if your hand is not up now,
I ain't giving you shit. (Audience members laughing) – Okay, good, good, okay. And some people say they see the book, "Oh Dan is it like Fu
money, what is F-U Money, It's fuck you money
okay, it's what it is*, it's exactly what it means,
it's exactly what it means and so, by show of hands, how many of you want to have some fun tonight, yes? – [Audience members] Yes! – Very good, very good,
now for what I want you do, I want you to get the most
out of our time together, So first I want you to do
two things, how many things? – [Audience members] Two! – Now the first thing I want you do is I want you to take notes, I
want you to take notes okay. And the second thing I want you to do, which you're already doing great, is I want you to participate because participations equals value, participation equals what? – [Audience members] Value! – So the more you participated,
the more you participate, the more forward you
play, the more value you, – Get.
– Get exactly. So just so you know, this
is like 10% participation, this is 50% participation, this is 100% participation, so let's try this out, let's try this out.
(Audience members laugh) So how many of you are willing to participate a hundred percent, yes? – I am.
– Yes. – Awesome, you get the book first, okay. So I want to start off with a story, there's this Native American tribe, and the government was
thinking well you know what, we've got this group of
people this community here how can we make them more productive, how can we collect more taxes because that's what the government thinks about. So one day they thought you know what, we're gonna send one of our
top agents to this tribe and see if we can help them out maybe put them through
school, help them get jobs and things like that. So the government sends these
top agent to this tribe, now this top agent is very very smart, he's thinking, "well you know
what this is a tough job, "so what can I do?" He thought himself, Well
instead of trying to persuade each member in the community one on one, why don't I just go to the
top from top to bottom. Let me talk to the chief, let
me talk to the Indian chief, if I can get him onboard, everybody else will be
on board make sense? So he went to the chief, and said, "Hey chief you know here's, "we're here to help you, the
government sent me here." Great here to help me? "And what I want to do
is, I want to help you, "I want to help you, I
want to put you to school, "I want to put you through school, "and don't worry we're gonna
take care of everything, "we're gonna pick you
up from where you live, "we're gonna drive you to school, "and we're gonna get tutor for you, "make sure you get good grades, "and you can get a job
and you can graduate. And the Indian Chief said,
"Well why would I want that?" Well 'cause after you
graduate, then you can work, you can get a job and make a living. Well the Indian Chief said
that why would I want that. Well when you make a living then you buy your own home,
you own your own home, and then you have your own
place, you can have some kids, and you work, and you
can save up some money and the Indian chief said
"Well why would I want that?" Well you know when you've
saved enough money, you work hard and this and that and when you're 65 you can retire, "Well why would I want that?" Well when you retire you
can do whatever you want, you can go hunting, you can go fishing, you can sing all day long,
you can do whatever you want, the Indian Chief said "Well
I'm doing that right now." (Audience members laugh) So the question and write this down, here's the first lesson of the night, it's not how much money you make, is how you make the money, it's not how much money you make, it's how you make the money, think about it. Because sometimes
entrepreneurs, what I notice is we get into business and
then after a couple years two, three, five years, ten
years after a number of years and we got so busy and we're doing things, we're trying to make it happen, we're trying to make the business work, we're trying to make a profit trying to survive or
prosper whatever it is, sometimes we forgot why are we in business in the first place, why do we get into this
in the first place? So let me ask you a question, why are you in business
in the first place? Just yell the answer. – Make money.
– Make money good, but why do you want to
make money for what? – For happiness.
– For happiness, good. – [Woman] Hang out with my friends. – Hang out with you friends, a
little bit more freetime yes, – [Woman] Help people.
– Help people good, make a difference. – Travel the world.
– Travel the world very nice – Security.
– Security, good. – [Woman] For my kids, for my kids. – For your kids, to provide
for your family, great. – [Woman] So I can say F-U government. – To say F-U to the
government, good, good. (Audience members laughing) How many of you got into business in the first place because you
saw there's maybe a problem, and you would like to solve their problem? Can I see a show of hands, okay. How many of you got into a business because maybe you saw a product or service whatever it might be and you thought you know what I can do better than that, and you started your business
just because of that? Interesting interesting interesting. So the first, by the way this is going to be a more
interactive experience, I don't believe me just
lecturing and stuff like that. So I just I don't just want
to be talking and lecturing we're gonna be doing shit
here okay, is that okay? (All agreeing) – So the first things I want you to do, I want you to find a partner, find a what? – [Audience members] Partner. – And preferably someone you don't know, so go ahead and find a partner first. Find a partner you don't know. (Audience members chattering) – Yep, yep two, you got it, you got it. – [Woman] Can we have
threesomes (women laughing) – It's up to you, somehow I
kinda get a different picture in my mind now. Yes you could yes that's fine. Everybody has a partner, everybody's got a partner, yes okay, good. – So what I want you to
do, I want you to discuss for two minutes, what does
passive income mean to you, and what does financial
freedom mean to you, I'll give you two minutes,
just among your partner go. Give your partner at high five and say thank you for sharing. – [Audience members] (high-fiving)
Thank you for sharing. So you know what does it mean to you and it's very personal, everybody means, it means different things of course, and tonight
(Audience members laughing) I'm gonna share some things with you, well first of all the
truth will set you, what. – [Audience members] Free. But first it will, – Piss you off.
– piss you off. And I'm gonna say some things tonight that I think will shock you and I know that why you came here and I also now know what
you came here to learn, but I think what you walk
away with from tonight, might be quite different
than what you expect. You might think you're
coming for one thing, but I think you'll walk
away with something way more valuable. You might think tonight
is a money conversation, but then at the end, you might realize, it might be a life conversation. So it would be quite interesting, and I think last time I did
this, it was extremely powerful, and people were blown
away by what I shared, and some people we're
pissed off, and it's normal, because sometimes it piss you off first and then you're like
damn, that is the truth and it might take a
while for you to digest but if you actually you are if you're open what's the word? – Open.
– Opened. I think you'll find it
incredibly liberating but let's see what happens okay. Let me tell you a little
bit about my journey and how I started on this
path of passive income, how I generate passive income, I first came to Canada
years ago with no money, no connections, and not a
word of the English language on my lips you can tell from my accent. I was born in Hong Kong I came here when I was 14 years old, and my mom and dad got divorced when I was 16 years old. So I was the only child my family, so at an early age, at
first my dad was you know, sending us some little bit of money but later on because his
company went bankrupt, in Hong Kong so he
stopped sending us money and all we had is whatever
we brought to Canada. So as a young boy then I
had to mature very quickly because then I had to provide for my mom, I had to take care of my mom. At an early age, to me, I was
never interested in money, it wasn't, it was never my thing. I was, I thought you know at the time I was very much into martial art, I thought my biggest dream in the world would be just be a martial
art instructor, that was it. But then I realize at the time my martial instructor, was broke. He had five students, and
only two were paying him, and I was one of them. So I thought maybe that's not a good way to make a living and I
couldn't provide for my mom but what's interesting is looking back, what I realize is that I have I've always had a teacher's
heart, I like to teach, so now difference is I'm
not teaching martial art, but I'm teaching
entrepreneurship and business, that's my passion, and you see I'm very
passionate about what I do. So through that experience,
I started my first business when I was in in high school
with couple of my buddies a lawn mowing business. Now let me tell you about
lawn mowing business, we start off with you know,
we had a lawn mowing machine, and a couple of buddies
and the business was okay, it was doing quite good, except we just didn't have any customers, (Audience members laughing) everything else was good. So now in business, when you don't have
customers what happens? – You go broke.
– Go broke. – You go broke. And then when you go broke do
you still have a business, no. So I learned my lesson
there, so it you know we failed very quickly and then
I started another business, and I thought to myself, you know what, learned my lesson and dust myself off, learn from my mistakes,
started the second business. And I said to myself,
"This is it, I can feel it. "This is the one that
I'm gonna make it big, "then I can provide for my family, "and pay off some the debt, this is it", and guess what happens? – [Man] You went broke. – Now I failed again, and
then I dust myself off, learn from mistakes, say
to myself, motivate myself and said, "You know
what, start the next one, "this one, this is the
one, I can just feel it. "I know it's gonna work",
and guess what happens? – [Man] Same. – Yeah I failed again, okay. And at the time, I was trying, jumping from one thing to another, and always looking for
the perfect vehicle, the perfect business whatever might be, and I would try all kinds,
try vending machines, I tried that with marketing, I try you know software
all kinds of things right, none of them worked, none of them worked. And then I went into a
different path where okay how come I see other
people are successful, how come I like I don't think they are they 10 times smarter than me? I don't think so. Are they, do they work
10 times harder than me? I don't think so, then what's missing, must be something wrong with me. So I went in, went heavily
into personal development. So read all the books and
attend the seminars, workshops motivation, motivate myself. And in fact how many of you have read Think and Grow Rich? Yeah, wonderful. So I read Think and Grow Rich ten times, from front page to back
page, back and forth. Now the problem was, there
was a lot of thinking, not a whole lot of riching. (Audience members laughing) Okay, and then how many have read How to Win Friends and Influence People. Yeah, yeah I also read
that book multiple times, problem was, I couldn't
influence my friends to loan me more money. (Audience members laughing) – So that didn't work, that did not work, and at that point I was
about $150,000 in debt from friends and family and
credit cards and everything, in debt and I joined the
NFL club, no friends left. (Audience members laughing) Because every time I would call them, "Oh it's you the." That's it, that's it. They wouldn't take* my call anymore it wasn't, it's now looking
back it's kind of funny but it was embarrassing,
it was very embarrassing. And I was what I would
call, now looking back, I will call myself at the
time, a kind of like a business opportunity junkie, because I would buy all kinds of stuff, buy all kinds of programs
and try to make money and I would buy those,
how many have seen those home business or business
opportunity magazine, have you seen those? How many bought those magazines? Be honest, okay thank you for you honesty. So I bought those magazines, and I was the guy that
would respond to every ad. I would look at the oh this guy's making money
from mail order, let's do that, now this guy's making
money from classify ads, let's do that, oh and
this guy's making money from his kitchen table in his underwear, let's do that, that's even better. So I bought all kinds of
shit right, everything. Now what happens when you
respond to all these ads, do you know what happens? – [Woman] Spam. – Yes, I'm talking like
(woman laughing) direct mail days right. Now guess how many junk
mails I'll get, a lot, a ton. So it's funny, 'cause my
mom would open the mailbox, and she has like three letters, and I have this pile of stuff like 30, 40 letters everyday, like what the hell are
you doing Dan right. And I would look at these things, and I tried different things and none of them work of course, none of them work. And I thought to myself,
there's something missing here, I bought these, I tried kind of, to implement what they what they taught, but how come it doesn't work for me and I don't quite get it. So obviously I'm not making
money buying this crap, but then I thought maybe
people are making money, selling this crap it's just
a different mind shift. Then I thought to myself,
huh isn't that interesting, because whoever is selling
whatever they're selling, I'm sending money to this guy who I've never met, I've never talked to, and I'm sending him some
money, this is interesting, wouldn't be good if I'm on the other side. So then I started looking at these things from a different perspective,
from a different what? – [Audience members] Perspective. – Different perspective, I
looked at it, I'm like okay. Now I've started studying marketing, and then later on I found
a mentor his name is Alan, and he took me under
his wing, and he said, he's you know a marketing guy, and he taught me copywriting and marketing and how to write ads, and I basically worked
for him for one year, for next to nothing
basically nothing volunteer. And I always refer to that year, as the million dollar year of my life, because I got a million dollar worth of education in that year. So that might not be the
answer for everybody, but that was the answer for me, finding a mentor who has
been there and done that. So after Alan mentor me and then I opened up my little own one-man advertising agency and just writing ads for entrepreneurs, for speakers for authors, and in my early 20s I was
making $10,000 a month, now how many you recognize like for twenty something years old, 10 grand is a lot of money, it feels like like a million bucks. I can provide for my
mom, pay off some debt, and still you know live pretty good life, and after a while of that, then one day, I met a webmaster at a time,
and he said to me, he said "Dan you need a website." Okay why do I need a website, "No, no, you need a website." What I'm gonna put on my
website I don't get it because I'm busy enough,
I don't need more clients, "So well you know we could
sell something on the website." What am I'm gonna sell, "I don't know, put some stuff together, "sell a book or something. I said, "Okay fine", then I
sort of put together a book. So I wrote my first ever book, it's called psychological tactics. Now it's interesting, because when I first wrote the book, my intention was to use the book to help protect consumers of like what are these marketers doing to make you buy stuff but then guess who is buying all the book, – [Man] Marketers. – Yeah all the marketers
and business people right, wasn't my intention, it
was not my intention. So I wrote a book and I printed
like a hundred copies of it, and it cost me five bucks
each, and physical copy. And I remember at the time, I post on a on a business forum or something and I post it and you
know after a couple days, nobody buys, and this is
I'm talking before PayPal, before merchant account. So one day, my phone rings,
I picked up the phone and this this gentleman from the States, he said "I saw your posts on this forum, "do you still have any of
those books available?" About 100 of them. (Audience members laughing) – Yes I still have a couple copies, yeah I've got a couple copies, they're selling well but
I've got a couple of copies. Well can you send me one of those, sure like how would I pay you, I don't know well can I
send you a money order, okay sure so he sent me a money order, and I ship him the book, and when I first got the check, that money order in the mail, it was the most incredible
experience I've ever had, because it was a validation, that hey you know what
I've got something here that might work, if it's
20 bucks doesn't matter because at the time I was
trading hours for dollars I was making high dollars, but
still, it's time for money, So I thought to myself,
this is interesting, I sold out a hundred
copies in about 30 days, so I made about 1,500 bucks. Now if you were me, what's
going through your mind now? – [Woman] I would do that again. – Do that again, yes. What's going through my mind. – More books.
– More books, I could do more like
it what if I put this, because it's just part-time,
what if I do more, I do more marketing can I
sell you know 200 copies, 500 copies, what if I had
more books, I don't know, that was it because I want
at a time, my intention was just to make enough
money so that I could just spend less time working
with clients one-on-one because I want to spend more time with my mom, because I
was working all the time although she's home, but I'm just in my room
working all the time, I didn't like that. So that was my intention and from there, make very good money,
launch the next book, the next product, and I love that, I talked about that in my book, FU Money. And maybe timing, you can
say luck, internet took off and I was getting now
a little bit of money, I went into different niches, different industries, more products, and affiliate marketing, and at one point was making
ridiculous amount of money, I'm talking ridiculous amount of money. And I was, I would let's say go out
for dinner with my friends and we would blow three grand on a night, just like that, and I
don't even fucking drink. (woman laughing) I don't drink, and we
blow like three grand, like I was stupid, I was
getting a new car every year, it was stupid stuff, I did stupid stuff, and I'm not proud of it,
but you know as a young guy, you went through that, you got that right. You went through that, and but looking back
what's interesting is, why was I doing that, buying my friends, taking them on vacation, buying them drinks, buying
them dinners and this and that, why was I doing that? – [Woman] It's fun. – It's fun, no, but why was I doing that? – [Woman] Because it's good. – Yes but it's but deep
down, what was I craving, what was I looking for. – Recognition.
– Validation. – Recognition, validation, I
was trying to buy approval, I was trying to buy love, attention, because my mom and dad got divorced, so that what's lacking in my life. Now but let me ask you a question, if my friends were coming me
for, coming to me for that, are they true friends, no, so when I stopped buying them
dinners and stuff like that, are they gonna showed up, no they're not true friends,
then I learned later on, it's they're not true friends. But I was, it had the
illusion of, well it's great, I got a bunch people and it
feels good, and this and that, but it was stupid, very stupid, so you know with internet marketing, that's how I made most of my money, so what I want to do tonight, is share, maybe two key lessons, that I've learned throughout the way, during that process and before and after, and hopefully you don't have
to make the same mistake that I made and you don't,
and you can take from it, and you can apply anywhere you want, whatever state you're in right now. How many of you would be interested, yes? – [Audience members] Yes. – So here's another exercise, so what I want you to
do, just to yourself, I want you to write down
your total annual income, just from last year 2014. And this is personal,
whatever the number is write down your total annual income. – [Woman] According to me
or according to income tax. (Audience members laughing) – No sometimes, last time when I did this, there was an accountant, well
is it pre-tax, after tax, just how much you made last year, keep it simple. Put up your hand if you
have that number, okay. Give you a couple more minutes, how many have no idea what that number is? OkaY good, good, guess that would not be a good sign, well actually it might be a good sign, because either you don't make enough money you don't want to look at it, or you make so much money
you don't even care, so who knows.
(women laughing) So write down your totally annual income. Now step two I'm gonna
get into in just a sec, I want you to categorize
your source of income, but before getting into
that, let me talk about the different types of income. So there are basically four
types of income, how many types? – [Audience members] Four.
– Four types. The first type is what
I call linear income, now what is linear income,
linear income means you do a little bit of work, you get paid, you do a buck worth of
work, you get a buck, you're trading hours for
dollars, linear income. So you could be, you make
a sale, you get a buck, you do a deal, you make a buck, linear income, or a job, a the
end of the of month paycheck, linear income. So with linear income, it's
what I consider most of the time it's bad income, but that's
what most people know how to. And so these are just some examples of different types of income, I mean I could give you way more example but it would be very very long, but you'll get an idea. So example is salary, over time, commission, consulting
fees, professional services, those is what I consider linear income. What kind of income? – Linear.
– Linear income, okay linear income. And theN you have what
I call leveraged income. What kind of income? – [Audience members] Leveraged. – Leveraged income means
you are now leveraging, O.P. other people, other people's
time, other people's talents, other people's resources, other people. So with leveraged income we're
talking strategic alliances, subcontractors, good will
and client contracts, or maybe salary staff or
sell space network marketing, different types of leveraged income, but you're leveraging other people. So now you've got a little team, maybe you have a little system in place, you're no longer just
relying on yourself, okay, leveraged income. And then you have passive income, an example would be let's
say commission staff or buying base network marketing, or renewals, or interest
income, or dividend income etcetera, etcetera,
etcetera, so passive income. And then you have what
I call windfall income, what is it? – Windfall.
– Windfall income. so windfall it's appreciation of stocks, appreciation of real
estate, appreciation of RSP, you know the inheritance,
lottery, large bonus, selling a business, that
type of, so windfall, a windfall income. So the four types of income. So you have your numbers example would be, so let's say last year you made
let's say a 100 grand okay. And let's say you would
categorize it, let's say you had it's eighty percent of that, so 80 grand is let's
say it's linear right, and then let's say you
have ten percent leverage, and let's say yes zero percent passive, and you have ten percent windfall. How many following this so far yes? – [Audience members] Yes. – So I want you to categorize your income, I'm gonna and give you let's
say a minute to do that just take a minute categorize
your income for now. Okay now next what I
want you to do is this, I want you to draw a
chart kind of like this, Linear, leverage, passive and windfall. So I want you to draw a chart, so example, use the example again,
let's say we use the 80%, so we would look something like this, and then you have 10% here right, no passive and that's what it's look, now I want you to draw a graph like that, and you can see the pattern,
so take a moment and do that. So linear, leverage, passive and windfall. So according to your percentage. What have you learned so far, tell me. Looking in your photo,
looking at your chart, what have you learned
so far, yell the answer. – [Woman] I'm working way too hard. (Audience members laugh)
– Working way too hard, good. – [Man] Linear.
– It's all. – Too much linear.
– Too much linear, okay yes. – [Man] It's a dead end. – It's a dead end good, it's a good thing, it's not bad thing, yes. – [Woman] To shift, I need to shift. – You need to shift, good
okay, anything else, good. So with myself I have very little linear, very like maybe a few percent there, I have a lot of leverage, a lot of passive income from time to time, little bit of windfall. So that's the cash flow
pattern that I have right now, took me a number of years to get there, but that's what I have now. Now by the way, how many recognize that looks awfully similar (Audience members laughing)
to my book. Now,
– Hmmm. – Hmmm, hmmm, now what does that mean, It means when you get to
this cash flow pattern, then you can say FU to people, (Audience members laughing) to people you don't like, or
things you don't want to do. That's called subliminal
message okay, okay, a subliminal message, so let me share with you, the three myths that I believe are blocking you from earning the massive passive income that you want there are three myths, now what are myths by the way, tell me, what are myths, things
that people believe in, that may not be true yes, okay. So the first myth is this, the first myth is financial freedom. The first myth is financial freedom. What Dan, what, what, what do you mean? Yes the first myth is financial freedom. Let me go back to my story. So I was making a lot of money,
and I set a goal to myself that at the time I was gonna
retire at by the age of 30, I actually accomplished
that by the age of 27, so I retired, became a millionaire, not only millionaire status, but also had massive
passive income coming in, don't have to work I said that's it, I'm done not gonna work
another day in my life, so I'm gonna do what most people do right. And by the way the financial freedom, how many of you have
read Rich Dad, Poor Dad? Yeah okay, and what's the
definition, the book talks about financial freedom occurs
when your passive income exceeds your expense, how many of you have heard that before? Yeah okay, and nothing wrong with
that, I mean I like Robert and everything he talks about, here's the problem, here's the problem, when I got to the point
where I don't have to work at a time, and it's
kind of like this right, when your passive income,
exceeds your expense that's the graph and that's
the picture, I have in my mind, and I did it, and I did it,
so I went to English Bay, and I said to myself, this
is cool, this is nice, looking at the beach,
and looking at the wave, and holding my fruit punch
and just drinking it, I was like this is nice, this is nice, second day I go back there, this is nice, third day you go back there, and after four or five fruit punch, like okay after 30 days of that, I was bored out of my mind. And I thought wow this is crazy and that's taught me a lesson, that most people they say
they want to get to a point where they are financially free
so they don't have to work, they want to retire. What I've learned is this, most people actually don't want to retire, they just want to be able to
do what retired people do, they still want to get, they
want to go on vacations, they want to buy the
things they want to buy, they want to provide
them for their family. But most people they don't
actually want to do nothing, and staying at home not feeling alive, and I did that so I was gonna after 30s, this is this is nuts I can't do this, this is, this is, this is, I worked so hard to get to
this point when I got here, Looking, was looking
at the beach, I'm like, this is not what I signed up
for, this is not what I wanted, this is this is not how
life is supposed to be. So I went into a different path, I said well you know what, I love movies. How many of you love movies? I love movies, so let's
instead of doing that, let's watch some movies at home, (Audience members laughing) why don't we do that, okay. So I was renting all these
movies, DVDs at a time and I was watching,
five, six movies a day. Let me tell you something, when you watch, five six movies a day, you don't like movies so much, unless you're a movie reviewer
or critic or something but that's not good either. After 30 days of that,
I called up my mentor, and he was just laughing on the other end. I said "I don't get it, like
what should I do, I feel, how come this is my goal, and I got here, and how come I'm so depressed, how come I'm so empty I don't understand, he was just laughing on the other end. He said, "well you know what, "I was expecting three months, "you couldn't even last two months." I said "what do you mean?" Well 'cause you're an entrepreneur, you are a creator, that's
what entrepreneurs are, you create stuff, you use your creativity to create value in the marketplace, and now you're sitting at home you're going to the beach,
you're watching movies, it's not creating anything,
you feel, you're so dead, you feel so dead, it's
just not the way to go. I said "You don't understand, I'm done. "Like I'm not gonna do anything, "I'm not gonna start
another thing, nothing. He said, "You have to." He said you have to because now, right now you're not happy. He said, "Are you happy now?" I said, "No I feel miserable." He said, "That's not good." "So go back to business", but he said this time,
"You start a business "from a different place." Because I've made my money, now I can start from a
place of well you know what, I can do stuff that I want to do, I think getting involved with projects I want to get involved with, I can work with the people
I want to work with. Because before it was
just, money, money, money and I want to make the
money I want to be done, I want to retire, got there now, okay. Now I can just do it for
the sake of doing it, I could do stuff, I could show
up and speak if I want to, I can not show up and
speak if I don't want to. Nobody can point a gun to my head and ask me do anything
if I don't want to do it. I'm here because I want to be here, if I don't want to be here, I'm not here. So I can do whatever I
want, so you know I said, and I you know spend a
couple days with myself and just writing down
in my private journal, you know Dan if you could do anything, what would you want to do, so I write down all this stuff
that, what would it look like and what my business would look like, what my life would look like and I mapped out everything,
mapped out everything, so then before going into that, let me tell you another story, I have trained a number of young guys, number of young guys. And I helped them, you know young guys and you know set up the ebooks, and sell stuff online digital products, and their goal was to make
three, four grand a month and then just go to Thailand
and live their life, and I've helped a number
of young guys to do that. And once I help them accomplish that, and I called them up and sometimes see how they're doing, guess what, none of them are happy, none of them, in fact
they're all totally lost. They're in the early 20s,
they don't have to work, they're in Thailand, I
mean they're drinking, they're partying, they all
thing doing all this shit, and partially I feel I'm
responsible for that as well, because I taught them the profit path, but I never gave them the purpose path, I just said hey you know, they just, hey you want to make
enough money to be free, I'll teach you to do that and that's it, and you do your thing, and now they all lost, and so I feel like I gotta bring them back. And that's a lesson that I've learned that with passive income, listen to this, just because it's
passive, write this down, doesn't mean it's permanent, just because it's passive
doesn't mean it's permanent, it does not mean it's permanent, because I've had this experience when I had these multiple 20, 30 sites selling these ebooks through Clickbank, I was using pay-per-click
and I was, could be one ebook making 500 bucks a
month in passive income, the other book could
be making 3,000 a month in passive income, then I
hold 20, 30 of these sites, and I was making good money, and suddenly in Google,
the AdWords, the cost, everything changed, so
my profit went from this, to this, it was very passive
for a period of time, but then my just my expenses
kept getting more and more and my profit keeps getting like this. So then I learned well
just because it's passive, doesn't mean it lasts forever, it does not mean it's permanent. So people might think have this picture, well if I make enough passive income, then I don't have to work, I can retire, and I can just, don't
have to spend any time to maintain it and leave it as it is, it does not work that way, it does not work that way, that's not how it works. You do need to spend
the time to maintain it. Let me tell a story, a friend of mine, he was in my mastermind
group, and his name is Ryan. Ryan when I met him through mastermind, number of years ago, he was
making a million dollars a year, through Google AdSense**, he calls himself the
Search Engine Spammer, he would set up these sites, he would spam the search
engine, spam google basically, and he would set up this pages
and get money from AdSense**, and show me the check,
he's doing 100 grand, 90 grand a month from
Adsense**, multiple checks, he though he was the
smartest guy in the world, and he was pretty smart. And then of course Google you know slap and changed the algorithm
and all that stuff, so he when I met him was
making a million bucks a year, next year I met him again,
half a million, year after, a hundred grand and then
zero, and then zero. And he was like I don't
get this, I said dude "Who do you think is
smarter, you or Google?" You have five guys on your team, Google has how many engineers, how the hell can you
possibly outsmart them, you're lucky you made that
money for a period of time, so again I can see well
just because, it's passive, doesn't mean it's what? – Permanent.
– Permanent. It does not mean it's permanent. So here's the truth, don't
aim for financial freedom, aim for financial confidence, because financial freedom is an illusion, it does not exist, I
can tell you right now, it's a fantasy, it's what
those gurus or experts, and they want you to believe, that they have this, oh
yeah you want to be free it does not exist, I
can tell you right now, because just because
you're free right now, doesn't mean you're free
two months from now, or two years from now. How do many follow what I'm saying? It doesn't mean, but financial confidence oh totally different, because I believe financial
freedom, financial independence, all those concepts they're outdated, I believe they're outdated. Financial confidence is in our animal, I'm talking about knowing
you have the skills and the ability, to make money anywhere
and anytime you want. That's true security. You're not depending on Google, you're not depending on whatever vehicle, you're not depending on stock market, you're not depending on anything, you're not depending on a
thing to make you money, because who makes you money? – [Audience members] You.
– You make you money. It's the same thing with me I tell people, take away everything I have,
leave me with my brain, with my context, I can make it back, that's true security, you can, because nobody can take
that away from you, my skills how I do business,
my business acumen, I can make money doesn't matter. And that's why people say that, oh you know Dan you have the Midas touch, you know whatever you
industry you get into, and I make money in multiple industries, totally unrelated industries, and oh this is so great,
and I always say to them, you know you should have
seen me ten years ago, when everything I touch turns to shit. (Audience Members laughing) Now I say oh everything
you touch turns to gold because now I have to
skills, it's who I am today, then I get into business,
then I can make money, does that make sense? (All agreeing) so it's a myth. Financial confidence. So aim for financial confidence, don't aim for financial freedom. That's number one. Myth number two is passive income. Now I can see you're really shocked. So passive income and I
checked this out on Wikipedia. What does it mean? So passive income is an income received on a regular basis with little effort
required to maintain it. That's from internet, from Wikipedia. Passive income. I don't understand Dan what do you mean? I'm here for passive income And you tell me it's a myth. Now you really fucked up my mind. (laughing) What is going on?
What is going on? Let me tell you what
passive income is not. Passive income, generating
passive income is not easy and it takes a lot of hard work because when people associate, oh passive income it means effortless, it means it's easy, it means it's quick. You know what I read Rich
Dad, Poor Dad three months ago and now how come three months later I'm not financially free? It's the wrong expectation. Just because it's passive
doesn't mean it's permanent, just because it's passive
doesn't mean it's easy. Now why is it not easy? Why do most people only know
how to create linear income and not passive income? Tell me, tell me why? – [Woman] Because it's easier.
– [Man] Change. – Because it's easier yes and you get it in 30 days
or a short period of time. Yes? – [Man] Takes a lot of pressure. – Change don't want to change. Yes? – [Man] Long time to build. – It takes a long time to build yes but why, so people know that but why are people struggling to create they know I kind of want passive but you look at their chart almost all the income comes from linear but why is that?
What's causing that? – [Man] For security. – Security. – [Woman] It takes a lot of
time for a person to build. – Takes a lot yes but, – [Woman] No confidence. – No content but think about this, – [George] Taught over time. – Yes!
George, great answer. Because in school, which income we are taught to generate? – [Audience] Linear. – Linear, from a very young age yes? What about parents? – [Woman] Same yup. – Same thing. When you go to school is there a class called
passive income 101? (laughing) if there's one I mean
I would have taken it. – [Man] Or get a good job. – Yes so it is what we're taught so we are not equipped with the skills to generate other forms of income, we just don't know how and people kind of get into it, they kind of make mistakes, they kind of learn it
through school how not but it's not in school system. Now why is it not in the
school system by the way? – [Man] Linear thinking. – Why is it on the school system? – [Woman] Because the teachers are linear? – Yeah the teachers are linear so they cannot teach you
how to generate passive but think about it for school, school is designed to create what? – [Man] Jobs.
– [Man] Slaves. – Jobs, employees. So who controls the school anyway? – [Woman] Socialists.
– [People] Government. (laughing)
– Yeah, socialists, government, corporations right? If you study history, it's actually a whole bunch of big corporations one day they get together and say "you know what we need some more workers "we don't have enough workers "let's create a system so
we'll never want our workers" and that's how the school system was born if you study history. So if you think about it in the school system, we were not taught how to do that and that's why people
have challenges doing that and for them to think well you know what I got to get pay, I got to do the thing and in 30 day and I get my paycheck and that's it. So it doesn't mean it's easy and also generating passive does not happen overnight. So I want to adjust your expectation, adjust your what? – [Audience] Expectation. – Knowing that's what you're getting into. So then you won't be,
how come I tried this, in 30 day I'm not making
the passive income, I fail! You haven't fail! It's the way it's supposed to be! It takes fucking time! (laughing) It does. It takes, now how long does it take? (laughing) – [Woman] A fucking long time. A long fucking time! (laughing)
Seriously. So also passive doesn't
mean it's effortless. If anything it's the opposite. Passive it does not mean it's effortless and also you think in terms of this. All the people, let's say them Forbes 400, some of the wealthiest
people on the planet. The Richard Branson, Donald Trump, Bill Gates, Warren Buffett. Now when you go online
can you go to YouTube And then search some
of the interviews yes? – [Audience] Yes. – A lot of great information. In fact I would challenge you to go and search and watch
the interviews on YouTube, any one of them and I challenge you to see if they even used the word passive income. They don't even use the word, it's not even in their vocabulary and I challenge you, the most successful people on the planet, to see if they even use
the word financial freedom. None of them got into business because they want to be financially free, none of them, not one of them. They got into business because there's something they love to do or they see this product
or whatever it might be, whatever drives them but none of them because if their goal
was financial freedom, none of them have to work. They accomplished that many years ago They have way more than they could spend, they don't need to keep working. How many have read the
book 4-Hour Workweek? Yeah 4-Hour Workweek by Timothy Ferriss and I know Tim, he's a
great guy, great book. I think people misunderstood what Tim was actually saying but look at any one of
these guys, any one of them. Are any one of them
working four-hour week? – [Man] No. – None. Are they even working four hour a day? No, they're working long hours. Who's the richest man in British Columbia? – [Man] Patterson. – Patterson okay. If you call the Patterson
office on Saturday morning, chances are Jimmy's gonna pick it up. Jimmy, at his age is still today the first one to go to the office and the last one to leave. Let me give you a clue,
he doesn't need the money. (laughing) but why is he keep working? Oh that's you know all these people they're just greedy they want more. Well let me ask you a different question. If you are already a pretty healthy person and you want to, you're pretty healthy, you eat well but you could eat even healthier and exercise more and
get into better shape. If you could do that, should you? Yes or no. – [Audience] Yes. – So let's say you already
have a pretty good relationship with your spouse. You're a pretty loving
person and you give love and you help other people so if you're pretty loving right now but you could give more love, should you? Yes or no?
– [Audience] Yes. – So if you are already a
pretty successful entrepreneur you're making good money and you could make more money now here's a question should you? Yes or no? – [Audience] Yes. – So it's not about
money, it's about growth. It's about growth. They are doing it because
it's what life is about it's growth, it's more. Not because they're greedy, that's the poor people mentality, all these people are greedy because they are not creating shit, they're not creating value in the society but these people are doing
stuff, are innovating. You can't tell me, Warren Buffett gives away
97 percent of his wealth. How can you even
criticize a guy like that? (laughing) – [Woman] Yeah I wanna
be in line for that. Where do I sign up? – You know what I mean? So if you think about it, so none of them think even that way, so if you want to study the best, think of they don't even use the language they don't think financial, it's not that what they think about. Now if you think okay if I
want to be more successful shouldn't you study the best yes? – [Audience] Yes. – Listen to what so what do they focus on? What they focus on is this, you see retirement is
simply doing what you want where you want to do it, yes or no? – [Audience] Yes.
– For most people right? So each of the Forbes 400 is doing that, they have all retired into
their jobs and companies. They've all retired, I have
retired into my companies. I'm doing it because it's
just what I want to do. It's not because I have to do
it, I don't have to do shit. I want to do it, I love doing it. What else am I gonna do? You can only go on so many vacations. I take four vacations
a year, that's plenty. More than that, I'm like
(groans) it's too much. I'm happy four vacations, I'm very happy. I don't need more than that and as a guy, I mean how
many cars do you need? You can only drive one. How many houses you need? – [Man] One. – Seriously I mean I live a pretty much I live a pretty modest life. I've got one car, I've
got two car actually. One house and nice carpet, that's it. I mean I don't have ten
cars, I could buy 10 cars, I don't have ten cars. So think about that. So why do you think passive
income is a dangerous fantasy? So because you can't stay ahead of the competition passively. Let me ask you this question. In the business world
now, business environment. Is the business environment right now more competitive today or ten years ago? – [Audience] Today. – Today and is it getting more
competitive as time goes on? Yes?
– [Audience] Yes. – Okay so if you think about it, if you're actually running
your business passively, your competition every
day you're thinking of how can I take you out of business? So if you run, think of this general. If this is general and say "You guys go fight the
war and kill the enemy "and conquer and I'm just gonna sit back (laughing) "and relax and just
passively and drink my beer." (slurps) Now are you gonna follow that guy? – [Man] No.
– Yes or no?. – [Audience] No. No if anything I'll shoot
this son of a bitch right? (laughing) You're not gonna follow a leader like that same thing with you, your company, if you're passive, nobody wants
to follow a passive leader. Think, what if I say to you that what I want is I want, how healthy would you be if
your focus is passive health? – [Woman] Not very healthy. – Not very healthy. It's because anything in
life that's worthwhile, we have to what? – [Woman] Work at it. – You got to work at it. You got to work at it, so passive health if
you want to be healthy you gotta exercise
regularly, eat well yes, have a little bit discipline yes right? What if I say to you, well you know what honey from now on, I just
want some passive sex. (laughing) I'm not gonna do anything,
you're gonna do all the work I'm just gonna lie down
there like a dead fish. (laughing) Now let me ask you a question how passionate would your relationship be? – [Woman] I won't go to my bedroom. (laughing) – So passive health doesn't work, passive sex definitely doesn't work how would passive income work? It doesn't make sense,
it does not make sense. How many of you are getting this? How many find it liberating actually? Good, good and you can't maintain a loyal
tribe of customers passively, you just can't because everyday, someone is trying to steal your customers. Just take market share.
We have to be aggressive. And you can't lead great
teams passively period, there's no way and here's the biggest point of all you cannot create meaning,
passion or purpose in your life passively, you just can't. Think of the moment in
your life, any moment where you were the most passionate, you were the most excited,
you were the most alive were you like passively
sitting there doing nothing or were you doing stuff or
were you challenging yourself or were you stepping out
of your comfort zone? – [Woman] Stepping out of my comfort zone. – You were doing new
stuff, like this is cool I've never done this before this is now you're active right? You're not passive, it's
the same in business. It's the same in business,
you cannot create meaning, passion or purpose in your life passively. So every time I've seen
someone create a business whatever business he's in, with the ultimate intention of getting away from that business and its customers as quickly as possible instead of moving towards that business and its customers, it fails. Because when you say the word
passive income to your brain, what signal does it send to your brain? It sends the signal to your brain this, how can I get the most with
the least amount of work? Because you want passive. How can I do the least amount of effort, put the least amount of effort and get the most out of this deal? Think about it. In other words you're saying
what can I get away with? What can I get away with? You know it, what can I get away with? So instead of going with that intention and you don't give a
damn about the customers, I just want to make some
money, make enough so I can go on vacation and stuff like that. Now if you're with that
intention going to business, are you gonna do well? – [Audience] No. – Just no way but what if we change that up? What if you go into with
an intention, purpose and meaning and say you know what, I'm here to impact people's lives, I'm here to help somebody, I'm here to make a difference. I want to make money I want to make profit but I could do that in
a way that's gonna be nobody's ever done this before. What if you go with that intention? Now is your business more likely to be successful?
– [Woman] Yes. – And are your customers
gonna feel the difference? You bet.
They are not just some digits. They're not just a credit card number They know that they're people yes? – [Audience] Yes. – So at the end of the
day, think about that. So if your intention is to make enough so I can get away from it, no move towards it. Embrace your customers and engage, interact with the customers. Go and meet, if (yells) just want to make especially internet guys right. Oh just this and do this
and automate this and. I always say to them you
know you cannot automate and systemize something that's not worth anything. If you have not created
value in the first place then what the hell are you automating? What are you automating? Once you create a value on a big scale and now you need people, you build a team. Now you can automate,
now you can systemize so we can serve more people. Does that make sense? There's a big difference in mindset. So the business you're
investing or creating doesn't tend to be creating value for its customers or for anyone. So it doesn't tend to spit off the cash that you're hoping it will, of course. So many times I've seen people pursue passive income and end up having active losses instead. How many of you have been there? End up having active losses instead. So here's the truth, don't
aim for a passive income, aim for leverage income. What kind of income? – [Audience] Leverage.
– Leverage income, aim for that, don't aim for passive, aim
for leverage, aim for leverage and as you build it, now
you're having a team, now you have some systems in place and the income keeps going up and up and you notice my pattern,
I have a lot of leverage. I don't have all passive,
I'm mostly leveraged through my business, through
my people, leveraged. Now with this mindset, (laughing) with this new understanding, are you still gonna be buying all those get-rich-quick crap out there? – [Woman] No – Better not. (laughing) But it's your choice. So if not, now but then are you saying that I
shouldn't invest in myself? Are you saying that I shouldn't
invest in my own education? Is that what I'm saying? – [Audience] No – That's not what I'm saying
but how do you differentiate? So these programs and this and things and compared to maybe
a workshop or a book, how would I know when should
I invest or not invest? Let me give you a very
simple, simple solution. Anything you want to invest
in could be any education. Ask yourself this question,
if I learn this skill, if I go to this thing,
if I buy this program, is this gonna help me to
generate more leverage income within what I do? Not let me buy this magic pill or bullet so it solves all my fucking problem so then I don't have to
deal with this anymore. You're not looking for an escape, you're looking for can I
add this to what I'm doing that would enhance what
I'm doing right now? You have this skill set or maybe cells, may be smoking what other skill that you might need but is this gonna help me
generate more leverage income? Do you see the distinction yes or no? Yeah so that's how you make the decision. Is this gonna help me
generate more average income? By all means go for it. This is a distraction, it's a magic pill, it's poisoned, snake
oil, stay away from it. In fact how many of you
are, in your email box you get a lot of different offers and subscribe to different
gurus and stuff like how many of you how many have that? Okay first recommendation, go home, unsubscribe yourself from all that crap. So you can focus. So it's not today buy this, tomorrow it's buy something else, the next day it's buy something
else and buy something else never ends, it never ends unsubscribe yourself from all those just think of the peace you'll have when you open your email box. Oh actually now I can read
an email from my friend instead of all those offers. Yeah unsubscribe, you don't need it. You do not need it. How many are gonna do that? Yeah just unsubscribe,
liberating, freedom! That's freedom. Then no more of the shiny object syndrome no it's not one thing
and buy the next thing and the next thing and the next thing. Now he said what's interesting Why do people do that though? – [Woman] Squander. – Squander yes!
This, shiny object, that! Why?
Why that? Why do people do that? Why do they buy this and it doesn't work and they buy the next
thing it doesn't work and they buy the next
thing it doesn't work, and they still keep buying. – [Man] Hope. – More than that. – [Man] Instant gratification. – Instant gratification yes. – [Todd] Feeling safe. – Yes, Todd, great answer
because it feels like and here's the truth and it hurts. It feels like they're doing something, it feels like I don't really
want to change my life but then in buying this program it feels
like for that instant I'm trying to change my
life and then afterwards I'll go back to the same old, same old, and then after a couple weeks, I'll see another thing
well now really I'm serious and you buy that thing, it gives you that feeling of
like you trying to do something but actually you're not doing anything. You're deceiving yourself
but if you're truthful, you're honest and say you know what? I don't need it, I don't need
it, I actually don't need it. I can build my business,
I can do my thing, I can create more leverage income, I can hone my skill sets and do what works we're just looking for that quick fix because it's never a quick fix it's a quick fix for the other
guy who is selling you shit, good for them, not so good for you. They are making a lot
of money but you're not. Although I'm on camera and people are gonna
hate me for saying this but I'm saying it because I
don't give a fuck by the way, fuck you guys (laughing) I hate these guys, I mean
all the gurus they hate me, they do, they do. I'm telling you, do you think they want to hear this message? No. You're the one who's gonna buy the shit. But fuck you guys seriously. Anyway, so create value
first, profit will follow. Create value first and profit will follow. Create value first. It's simple isn't it? Even Jennifer was talking,
connect now, networking works. In networking, what you want to do and the same thing is the culture I have with my entrepreneurs group. Actually we do a networking game every time we would do a
meeting and there are two rules. You cannot talk about your company, You cannot talk about what you sell. You can only ask questions
about the other person. How you can add value. So we go around with the networking game and we go around, how can I help you? How can I help you?
What are you looking for? What problem do you want to solve? Everybody. So I create a culture of
that, you create value first, you add value first because nowadays
everybody wants to do what instant gratification. They meet with you in three minutes and they're pitching you their stuff, here's the business card. How many of you have been through that? It's no different I use
this analogy all the time. It's like you go to a bar and you walk up to a nice lady and say "Your place or mine?" (laughing) It's no different. In networking, I just met you, I don't even know who the hell you are. The other day I met a realtor, he's like "You look like a very successful guy, are you looking to buy a home and sell a home?" I said "no", "Well, that's okay let me
give you three business card "so you can give to your friends "since you're not looking for". Like what the hell is this? (laughing) You don't even know who I am, you don't even know
what I do like how about pretend to be interested at least but it's no different
people go around and say "your place or mine?" It's no different but
instead of doing that how about add some value,
have a conversation and just get their phone number (laughing) and then ask her out on
a date later and that's it's so simple when you
play the value game, when you contribute value first before asking anything return, you have no competition
because nobody does it. Even I keep teaching my people stay up only percentage
you're put to do them because they just they want the money now, I get it, I get it but because you want the money now you can't sell that way
because write this down, needy is creepy.
(laughing) Nobody, do you do you want
to deal with needy people? – [Audience] No. – Do you want to deal
with desperate people? – [Audience] No. – If you can please buy I want to please do business with me, give me some, like fuck off right, it's unbelievable, don't do that. So here's what I want you to do. Aim for leverage in a
business you care about not passive income in a
business you don't care about. Aim for leverage income in
the business you care about, you like, you like the
people you're serving, you like the people you're helping not in a passive income thing in a business you don't care about I like that a lot. The hardest part about achieving abundance in any aspect of life including money, relationships or health, spirituality is getting
your mind right into it and doing it right for the right reasons. Create value, money will come you create value, money will come. In fact if you create so much value, you cannot stop the money from coming in. You cannot, you cannot. People say "oh you know I make a lot" You know why I made a lot of money? Because I serve a lot of people. I help a lot of people, it's very simple. It's on a scale, it's either
how much impact you have or how many people you serve. So with my customer base
and any one of my company's tens of thousands of customers sometimes hundreds of
thousands of customers, you serve a lot of people then of course you make a lot of money. You serve a few people, of course you don't make enough money, it's simple as that so to make more money just serve more people. Write this down, money earned is a byproduct
of value creation. Money earned is a byproduct
of value creation, it's so simple. You chased the money,
you don't get the money, you create value money comes, money comes. Jennifer how are we doing with time? Five, ten. You want me to stop or
you want me to continue? (audience members talking) okay good, good. – [Man] This doesn't
close till about four. (laughing) – I'll be around, I'll stick
around, answer questions. So this is what it should look
like income, passion alike. Now does that mean, how many
have heard of the saying "do what you love and
the money will follow" how many have heard that before? It's bullshit okay?
(laughing) It does not work, it does
not work, I'll tell you why. One day I was having lunch
with a friend of mine who is a professional speaker and we were talking about
and we're talking about do what you love and money will follow, we're talking about passion and he said "Well you know Dan, here's the problem, "you know what I love to do? "I love to just sit at
home in my underwear "eating a pizza and watching hockey game." (laughing) "I love that, the problem is I cannot get "anyone to pay me to watch me do that. "So I have to be a professional speaker." To add value first. So it's not do what
you love and money will because what if whatever you love to do doesn't create value in the market place? Then you're not gonna get the money. What I'm saying is love what you do. Find a business that you
like, that you're passionate and love it, every minute
of it, then it's not work. What you love it does it fit work? Yes or no.
– [Audience] No. – No then you do feel like
you work because you love it so people always talk
about work-life balance and you gotta have balance, you got to take time off and this I don't believe that
because that doesn't work. I believe in work-life integration. So people ask me the question "Well what does that mean?" because when I work and
when I play it's very blurry if you ask me. It's not like okay this
time it's working time and now we can (groans) now I'm not working, I'm at
home and finally I can relax. For me personally, it's very blurry. I can't even tell, okay if I'm having this meeting is this working? It makes me money but I like
it, I like having that meeting, I like having that lunch, I
like interacting with people and doing a deal. So is that working? So it's like this is, is this working? I don't know what is,
this is hobby for me. I prefer this than golf,
I can do this for hours. I don't have a script, I don't
have anything, I just do it whatever it comes from
my heart I just share. This is way more fun than me
just playing golf seriously. I suck at golf, (laughing) it's not my thing, it's
not my thing (buzzing) it's not my thing (laughing) it's not my thing. I like this. Fishing, not my thing but this is good, this is what I do for my hobby, seriously. Number three, it's not what
you do, it is not what you do. (coughing)
Excuse me. Not the vehicle Jennifer, later on, is there a way I can dim the light? You can't dim the light? Okay, that's okay, that's okay. So that's what you do because people talk about sometimes focus on you know, different vehicle, is it real estate, is it direct marketing, is it investing, is it stock market, is
it affiliate marketing, is it, whatever the vehicle it is, well it's not what you
do because are there people making a lot of
money in real estate? Yes or no?
– [Audience] Yes. – Are there people making
no money in real estate? Yes or no?
– [Audience] Yes. – Are there people making
a lot of money on YouTube, yes or no?
– [Audience] Yes. – Are there people making
no money on YouTube, yes or no?
– [Audience] Yes. – Are there people
making a lot of money in network marketing, yes or no?
– [Audience] Yes. – Are there people making no
money in network marketing? – [Audience] Yes.
– So, it's not what you do, it's got nothing to do with what you do, so it's not what you do, it's how you do it, it's how you do it. Do you do it with excellence? (chuckles) Are you professional? (clears throat) Are you doing what is necessary to make the business successful? So not what you do, how you do it. Let me give you an example, just a quick example. This is one of my companies in New Zealand with my partner and my partner is a very successful financial planner, insurance agent advisor and has been doing it
for a number of years so because he's built up a successful base so right now every year he gets about $100,000 in U.S. dollars in renewal because in insurance you get renewals but because he's built a customer base so he's getting a hundred
thousand dollars a year in passive income, in renewals every year but because he's work
that in the beginning and built that up. So it's not what you
do, you get insurance, that's a lot of the insurance people, renewals, passive income. Now what you do, how you do it, it's boring, it's mundane and it is, it's not very unique, how many have seen this
little cartoon character. (audience murmurs) Okay. Do you know how much they made last year? – [Woman] Billions.
– Close! 800 million dollars.
– [Man] Wow. – This fat little cat. (audience laughs) This stupid cat. (audience laughs) Now how did they make money?
– [Man] Licensing. – Yes, licensing, merchandising right, yeah so that's another form of, it's a little cartoon, a
little cartoon character. Now did they get here there overnight? No, of course not, it took
them many, many years, but what I want you
thinking it's like okay, how can you do things maybe
from a different perspective and think outside the box and maybe it's what you're doing now but a different way, maybe a different, a better strategy, that could maybe right now is linear, let's get your leverage first, how can you create more leverage from that and then from there, then your
think in terms of passive, the phase, the oxymoron. When you don't focus on passive income, when you just focus on leverage income and you focus on value, you will get passive income but when you chase passive income, you don't get it, when you just, this is my aim, I want to make that five grand a month, passive income, ten grand a month, whatever it might be you don't get it, but when you're creative like my partner and life plans, he never focused on the passive income, he was just helping clients and helping them and develop relationships and over the years, over
a period of time and he has people we knew and people like him now he's a hundred grand in
passive income every year but that wasn't his focus, how many follow what I'm saying, that wasn't, he wasn't going into his I just want to make enough, a hundred grand a year passive, it wasn't even his intention at all, he was just, I'm here to
build a successful business, that's it, that's it. (coughs) So people interpret the
message as a passive income, is easy and effortless
and all you have to do is set it and forget it, kind of like an infomercial, not like that, if you truly
understand the message, passive income, is a great revenue source that is earned from persistent and ongoing cultivation. From what? Persistent;
and what? – [All] Ongoing cultivation. – If you truly understand it, that's what creates passive income, so don't aim for that, aim for leverage and make that more
efficient, be more productive and you will get passive income, without even thinking about it, without even thinking about it. Isn't that interesting? So be- (coughs)
Excuse me. Before I go, I want to give you, I know we're running a little bit behind but it's, I did this last time, it was so powerful and
I want to give you this, so could you give me
another ten minutes please? – [Man] Please!
– Yes. What does it take, what does it take for you to feel wealthy? What does it take for you to feel wealthy? Just yell out the answer. – [Woman] Be able to go to
the ocean whenever I want. – Go to the ocean whenever you want, okay. – [Woman] Success.
– Success? Okay. – [Man] Cash.
– Cash. – [Man] Reserve, financial reserve. – Financial reserve, okay. – [Woman] Giving back.
– Giving back, interesting. – [Man] No stress.
– No stress, good! I'm gonna help you with that in a second. – [Woman] Helping family. – Helping family, okay,
providing for family, nice. – [Scott] Gratitude. – What's your name? Scott.
– [Scott] Scott. – Round of applause for that by the way. Round of applause. Because that's the point, because lemme ask you a question. With wealth and then many years ago, I read a book by Sir John Templeton, who owned Templeton fund, billionaire trader and in
the book it talks about, you know, what exactly is
gratitude, what is wealth, wealth, he said, wealth equals gratitude because, could this happen, someone let's say, have
a pretty simple life, don't make a whole lot of money but they are happy, they've got a great family and they feel they're the
wealthiest person on the planet, how many of you have met people like that? Yes. On the other hand, have
you met people like, they're making a ton of money, have a nice home and nice, many nice cars and successful businesses this and that, yet you know, wife is divorced, kids hate the guy and things like that and he even he has money but he's like the poorest person you ever know, how many have seen that? So here's the key, here's the key, no amount of money will make you wealthy, no amount of money will make you wealthy, because wealth is a feeling, wealth is a state of
mind, it has nothing to do with how much you have in your bank, nothing to do with how
much you have in the bank, you can have a few hundred bucks, you can feel this is great, well you can have a million
bucks, two million bucks, and you still feel poor. Are there people with a
lot of money in the bank, yet they live in scarcity and you ask them what do
you want, I want more, why I just feel scared,
I'm afraid, what if this happens to the
market and this and that, I can't retire. So are they wealthy? – [Audience] No. – So if wealth equals gratitude, if you think about it, if you are in North, if we are in North
America, you're wealthy, because two-thirds the
world, live on $2 a day, could it be your worst
nightmare in North America, someone's ultimate fantasy
in a third world country, yes or no?
– [Man] Yes. – [Woman] Oh, yeah.
– [Man] Totally. – So whatever problem we
have, it's not problem at all, think about it, so if you think and put yourself in that perspective, you are already wealthy, come on now, this is not woo fufu,
I'm saying coming from that place of abundance, now you can create something, now
you can build something, you can do more, but instead of coming from place, oh you know I'll never cause, what the ever the answers you gave me like say what it takes
for you to feel wealthy, it's so far away and we set these goals
and do this by the way, do this way, yes, this is how we fuck ourselves up (audience laughing) because we set this impossible
goal or very difficult goal and we say you know
what, when I get to that, I'll feel wealthy, when I
get to that, I'll be happy, if I achieve that, I'll be happy and then you keep working and working and even though what you
do get it, guess what? – [Scott] You want more. – You want more! Are you happy?
Maybe for short period of time and then you want more and we chase this rabbit and we don't understand at the end of it, what are we what do we chasing? When all we are chasing,
it's already here, we already have it, if you think of it so instead of thinking okay, I need to get there, then I'll be happy, I need to achieve that to be happy, here's a concept, why not happily achieve? Why not enjoy the journey? And knowing that you're wealthy compared to anybody else and also here's another concept, people talk about financial
freedom, guess what? You're already free. We have freedom of speech, we have freedom of mobility, we can do basically whatever we want, we can enjoy a lot of things for free, you are already free, it's not something you gotta
oh, yeah I gotta get there, trust me, visit a third-world
country, go to India, go to China, you know how free you are, you will know how free you are, I just it's, it's wonderful, we've got nothing to complain about yes? Truly. I'm saying come from that place, now create from that place, now although I do understand you get it intellectually, I talk about yeah gravity this and that, let me take you through an exercise, takes a few minutes to do and I do this every cause
people ask me the question, well then what's your routine, how do you stay productive, how do you, how do you,
how do you start your day, this is how I start my
day, this is and I just, you guys are lucky cause I
just finished this last week, I finished this recording,
I'm gonna play it, we're gonna go through an exercise and I want you to experience,
I don't want you to think round it, I want your experience, gratitude, how many wanna give that a try? Yeah, yeah, so I want you
to stand up for a second, slowly open your eyes, and that's how you start your day. Round of applause. (audience clapping) For those of you, this is what I do when I get up in the morning, I shower, I brush my teeth
before I drink my cup, lots of water and I'd listen to this and I do this exercise every morning so just imagine you do this every morning, does it cost you anything? No, in fact if you want this recording, I can have Jennifer send
it to you afterwards, you can do this every morning if you want so I'll stick around if
you have any questions and thank you very much. (audience clapping)
29 thoughts on "The Whole Truth About Passive Income & Financial Freedom With Internet Millionaire Dan Lok"
If someone is interested in his HTC courses hmu. The course itself does contain useful information and he teaches a lot of the sales psychology that goes behind being able to sell multi figure items. Beyond that, I'm hesitant to say whether or not the scripts and role-playing actually work in the real world… It's essentially just a useful audio book about sales psychology.
I bought the course from a friend and have gone through the videos, I'm open to selling to people if you're interested.
Discord, Tony#9869
I'm the one who pairs with the teacher
Thank you alots for this life lesson my mentor be blessed more
Awesome, Sifu Dan. Awesome! Thank you very much!
Sir I'm from 🇮🇳🇮🇳🇮🇳 i want to contact with you…
the blue shirt dude reads all books
Wow. I love how real Dan Lok is. This video is a gem.
A wise person once said, "Be thankful for what you already have because others could have it worse than you." : – )
Let's be thankful to have a person like Dan Lok. Thanks Dan! : – )
You say is easy Dan Lok. Cause you been there. Your clickbank paying you thousand thousand of dollar per month.
For me passive income is the income which should be credited in my account even when am not working like you can say while sleeping, playing, holidays, relaxing and so on, and financial freedom is all about getting or being able to make a purchase whatever he/she wants in his/her life, in other word like no need to save money or think of future, security, compromising, sacrificing the desire of individual for the sake of prosperity in future.
Omg profound! Working hard to take your class! This is it!
Dan, you're so funny
You're still going to work. Freedom is an internal state mastered. When you realize that you're a regenerative Source of Aid unto yourself, that's when life becomes very exciting!!! However, gently shared, don't think for a single moment that you won't spend your life working — because you will. Therefore, you might as well work intensively, develop into all that you can be.) Then after you've helped yourself, you can help others. It's not until you repeatedly save yourself (which is F.U. $$ … unfortunately true) that's when you're valuable to others. I'm in Phase 2 …, but enjoy your videos … because we all need a kick in the ars every-so-often. You have to be in business to generate a profit/HELP OTHERS (THIS HAS TO BE GENUINELY MOTIVATED)/Improve lives. When you improve your life, then help others get low-cost housing/help them obtain improvements in their monthly pay/help them obtain affordable healthcare/help them reach upwardly. [ Happy Note: That's some crazy hair you're sporting, Dear Dan! Love it. Love you!!! 🙂 ]
Hi I almost read all the comments, hoping I can get some info of the Dan loks attitude of gratitude.. Is this downlable? I wanted to know how Dan loks starting his day.. Maybe u can send me the link.. Thanks Dan..
अर्थागमो नित्यमरोगिता च प्रियास्च भार्या प्रियवादिनी च |
वश्यश्च पुत्रः अर्थकरी च विद्या षड्जीवालोकस्य सुखानि राजन ||
arthAgamo nityamarogitA cha priyashcha bhAryA priya-vAdinI cha |
vashyashcha putro'rthakarI cha vidyA ShaD jIvalokasya sukhAni rAjan ||
Vidura identifies six components or sources of happiness in this mortal world. ArthAgama (Cash flows). Health. Friends. Sweet (pleasant) speaking wife (spouse). Obedient Children. Fruitful knowledge. Each of these can be discussed at length. But let us see them briefly.
The actual meaning of Arthaagama is Cash flows and not just Income. It is to be noted that Vidura did not use the word Sampatti which means Wealth. Wealth alone does not make a man happy. Imagine a man who owns a palace worth say 100 crore rupees or 100 million dollars. If he has no liabilities, a banker will put his net worth at a whopping 100 crores or ten million dollars. If he does not have any cash flows, how will he sustain himself? Another person who has a salary of 10000 per month but no other assets is happier since he can meet his daily needs. The palace owner cannot even maintain the palace without cash flows and in due course it will become Bhoot bangla or a haunted house. If he sells the palace and invests the money in fixed deposits (as for stock markets, better read "Stock Markets or Monkey business") the position drastically changes. His net worth would remain high, he will also have a regular income and he can live a comfortable or even a luxurious life. Liquidity is often a better indication of financial health than net worth. Hence bankers place a high value on Current Ratio. A person can lead a comfortable life as long as receipts on any day is equal to or more than the outgo of cash for that day. Cash flow may be comprising of Income, Capital Receipts or even borrowed funds. That is why Liquidity Management has assumed high importance now in Financial Management as well. Mahatma Vidur has rightly identified this as the first of the six sources of happiness.
The second source or component is good health. Vidura refers to daily health. Any human being may have an occasional cold or fever. Or headache and body ache. That is not sickness. But there should not be any regular ailment or permanent disease. Something that requires frequent hospitalisation and surgery etc. Even if all other sources of happiness are available, an unhealthy person cannot be happy as his mind and body always suffer. We have to again agree with Vidura.
The third source of happiness is good friends. Volumes can be written or spoken about the happiness derived from good friends. This is something we all know from experience.
The fourth source of happiness identified by Vidura is a pleasant speaking spouse. He refers to a sweet speaking wife since he is addressing King Dhritarashtra. He may have used the word भर्ता (husband) if he were addressing Queen Gandhari. Importance is usually given to facial beauty while fixing alliance for marriage. An advertisement for wrist watches once said "The face you see often while waiting for somebody should not be a bore!". The voice you hear for the rest of your life (assuming that divorce is not on the agenda). Voice used should also not be harsh, both in content and delivery. We know many men and women who have golden hearts but are very bitter in their talk. The voice should be sweet as well as the words used. Some spouses meet all the requirements of a good spouse, but there is an unnecessary bitterness in their words when they talk to the spouse. Some spouses do not know giving a straight answer to any question of the other and the answer is always in the form of a counter question. A harsh spouse will make life miserable even if other five sources or components are available. Of course, a person without a spouse is compared to a blind man. Unmarried persons are denied the pleasure as well as pain of having a spouse and can be ignored for this analysis.We have to perforce agree with Vidura's statement.
The fifth source or component of happiness is Obedient children. This is something that Dhritarashtra did not have. And he was not happy even for a day of his life after his children were born, due to this problem. Instead of being under his control, he had the misfortune of surrendering to the wishes of his eldest son all his life. Definition of obedience may vary from time to time during the life time of a person. Children do need independence and should be allowed to lead their own lives. But parents find life miserable if they are to lead a life obedient to their own children. But as Vidur meant, a good relation with children and children who show deference to the parents is a vital component of happiness in life.
The sixth and last source or component identified by Mahatma Vidura is Fruitful knowledge. The knowledge acquired by a person during his life time should be useful to himself as well as to the society. Considerable time and resources are spent in educating a man or woman. If the knowledge so acquired with much effort is not used for the benefit of the person concerned and the society, it is a colossal waste as well as can be a source of unhappiness in life for that person. Vidura is again right in his identification.
Thus when we consider the six sources or components identified by Mahatma Vidura, we can see that they are truly representative of the real happiness of a human being in this world. Not for nothing Vidura is recognised as a scholar and Philosopher for a long time.
Now that we know the six components or sources of happiness, we can evaluate ourselves against these yardsticks and decide where we stand; whether we are happy or unhappy or somewhere in between!
Life is all about choosing the Right Choice
Hi Dan……Big Thanks
I have your book but this is the first time I've paid more attention to the cover. and I see fingers.
How can I get in contact with you?
one of valuable videos I watch,amazing content ,should be teaching at schools
2019??? 😇 🙏 blessed. 💘
Think and Grow Rich #1 sucesss book
Dear Dan I really interested in your training. I want to know how I can join your training here. Thank
It worths watching it from start to finish!
Great start of the presentation.
Amazing logic about everything.
Highmotional (EI) 🙂
One of the best lectures I've ever seen
6:50 "can we have threesomes?" hahah


text:
Welcome to Reddit,
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submitted by Kov01b0t
[–]mandudebro420 670Answer Link66 points67 points68 points (10 children)
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subset: commoncrawl


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