so let's talk about the only three money
principles that you must know need to
know to get rich and stay rich the name
the game is not to get rich but to stay
rich
okay and there are a number of
principles you know when I look through
my own private journal all the mistakes
that I made and I have about roughly
probably twenty nine thirty of them and
but I picked the three that I believe
are the most critical and which is what
I'm going to share with you today okay
my ticket sales world's highest-paid
consultant media celebrity
[Music]
claim speaker international best-selling
[Music]
so money principle number one and that
is what I call mastering the wealth
triangle massing what the wealth
triangle now for my inner circle members
I've been hammering this concept I'm ten
million times but this might be new for
you it's very simple but incredibly
profound and you see why in a moment
this is not some theory or some
philosophy you will not get this from a
book i pioneer this I created this so
basically it's the essence of my 15 plus
years of financial and business
experience experience gain down and
dirty in the trenches roll up my sleeves
in the world so this would give you the
who what why and went of money okay so
here's how it works now the world
triangle has three pieces how many the
first piece is what I call high income
skills what is it
high income skills high income skills
now how I define high income skills is a
skill that has the potential to make you
over a hundred thousand dollars a year a
hundred thousand dollars you know
sometimes ten grand a month how do you
want to use it but a hundred thousand
dollars it has a potential to make you a
hundred thousand dollars or more per
year now in this case you are trading
your hours for dollars
but you're trading your hours for high
dollars
you're turning your skills you
experience your talents and you look
delivering value the marketplace in
exchange of money so you are selling
your time for good money high income
skills okay and number of skills like
say my amenities you have Hudson Hawk
copywriting it could be consulting it
could be doing social media management I
have a friend of mine who is actually a
ballroom dance instructor and he makes
over 100k a year as a forum dance
instructor that's considered high income
skill - so whatever high income is good
that you may be thinking of now why is
that important
with your high income skill it gives you
income and it gives you comfort it
provides that stability in your world
triangle in your wealth triangle now the
second piece of their the puzzle the
second step is what I call scalable
business what is it
now what is a scalable business tell me
something that you could we eat
something that you could grow something
that you could grow without a lot of
info structure is what's wrong a
scalable business no because every time
you want to open up a second location I
got a long lease I gotta put in a lot of
money
I got to renovate the place got a high a
lot of you yes breakeven funnel maybe
maybe it's an internet pipe business it
could be an ecommerce business but
something you could grow without a lot
of infrastructure or without hiring a
lot of people without a lot of overhead
now why is a scalable business important
because your high income skills provide
you with income yes your scalable
business provides you with cash flow it
provides you with cash flow that's why
the second step now I can grow it third
component that's what I call high return
investment how are we talking what now
how do i define high with 20 investment
i define high return investment as an
investment that would provide you with a
10% any return year in and yell a
minimum of 10%
minimum 10% year in not just this year
but year in and year I consider that a
high return investment in some cases
could be more now high return investment
is not to provide you with income but it
builds your net worth what is it your
net worth your net worth here's the
triangle and here's why it's profound so
I'll go to a bit of detail so I come
skills you make your money it's a good
high incomes accuses you making you
money how we got that yes you make your
money
this scalable business is now people or
system making your money yes hello yes
how we turn investments now its money
making you money yes
so three very very different things now
here is the challenge this will solve
all your people asked me what should i
do what should I invest I lost a lot of
people sometimes come up to me what
basis should I start this one answer I
want all the questions today question
number one then I am I'm just getting
started
what business should I start my reply is
none though it's not a business when you
have no clue and no business acumen
because what is the very first step you
should do hello about the high income
skill first make that 10k a month first
three hours four dollars there's nothing
wrong with three hours for high collars
because this gives us the ability how
most entrepreneurs they don't have high
income skills they just jump into you
ice they think it's a scalable business
they sing their life saving is to it you
see a lot on dragon center shark tank I
don't know anything about business I
came up with this amazing idea i
mortgaged my house I put everything I
got a bore for my family and friends and
I have now 2,000 board games in my
garage dragon please give me some money
and the dragon says no sure
which is a joint venture broker okay yep
yeah very good very good
so what happens is in business same
thing with my own career and over now so
many years do you have ups and downs in
business yes what I said are your cash
flow pattern some year you guys some you
you're not good but very early on since
I when I was back in early 20s it's a
copywriter and they're moving to
consulting and coaching and speaking my
high income skills every year has tried
to increase my earning ability with my
high income skills so although I made
some bad investments I've done like 10
tech ventures as an angel investor lost
money in all ten that tells me I'm not a
very good tech investor right I thought
I know into the marketing but [ __ ] right
so I'll learn my lesson they're like you
can't not what or hey lost money right
and I'll share some lessons with you
from there so but all these years my
high income skills is very very every
year is very consistent that gives me
the base so I make I lose money from my
investment but I can always count on who
may give me money myself making me money
so I never ever stop I thought build my
scalable business my income skills is
making me money when I get on stage and
speaking I get 15k I'm making my nothing
wrong with that that son of a consulting
cake I make a hundred k nothing wrong
with that I'll take the money because it
gives me stability I know I'm trading
hours with all this that's okay because
I want to help the well triangle yes now
so people ask me what pieces should I
start I say none the first thing I do is
I income skills right question
possible is possible now very good
question
second thing now then now I have my high
income skills let's say I'm making a
hundred K a year what happens is over
the years is what I've learned less than
6% of the population makes over $100,000
a year less than 6% so when you're
making a hundred K your income bracket
you're at the top 6% less than 1% of the
population makes over three hundred
twenty-five thousand dollars a year in
income what happens is somehow I don't
know what it is I said person as an
entrepreneur I noticed whenever someone
gets over that 10k a month mark
something change about them suddenly
they can see well I am now among the top
income earner in society it's very where
I see someone who makes 10k a month drop
back to maybe 2k a month because the new
tanki a month talking about psychology
because then it becomes a new comfort
zone it becomes a new comfort zone I
don't know how it works I don't even
care how it works
but I know it works whenever I see
someone get through the 10k you might
say for tanking a long time but is rare
very rare 10k Sundays each other it's
whatever the income drops they'll do
whatever they could to get back to that
10k which Adam has been through that
right you drop me is like you know what
I gotta get do whatever I could get back
to their 10k that's one thing when you
have your high income skill it tells me
a number of things about you when you
have the high income skill it tells me
you're probably pretty good with people
and you'll probably have a pretty good
work ethics and you're probably easily
as selling and you're delivering little
bit of that quite a bit of value to
marketplace does that make sense
otherwise you wouldn't be making a 10k
so it tells me a lot about you when you
have these qualities you take all this
when you transition into a scalable
business it makes a lot more sense you
lower your risk versus I I don't know
anything about business I hate my job
I've been working in corporate in 20
years I'm gonna jump into business
that's why people fail because they
don't have the high income skills let me
give an example let's say I have been
doing social media I'm a social
medium manager and I've been doing
e-commerce I'm working with clients I'm
helping them with the social media
driving charge your website order that
stuff and now I'm making 10k a month you
with me
now suddenly okay I see an opportunity
here maybe there's a product I could
sell online I could use social media can
you see Facebook could drive traffic to
it at a time I stopped that I already
have my skill I already have that basic
skill I take my success here's the
concept write it down stepping on your
success now from scratch something
that's successful I've got what it takes
now I take what I know now I just do it
for myself in my spare time you with me
waiting for myself in my spare time and
this would grow and this will grow so
then when should you invest in something
else when your scalable business makes
so much money you don't know what to do
to it that's when your invest you know
invest when you are still oh and I'm
just struggling I'm making a few
thousand here's what happens people they
have a job making twenty five hundred
dollars a month
you see infomercial some guy talking
about buy real estate no money down oh
[ __ ] that's awesome maybe they'll help
me get off my job get on my rat race let
me go buy the course for $69.95 two easy
payments I buy that I learned that I'm
gonna buy real estate and they buy a
couple pieces of real estate
suddenly tenant moves out the toilet
broke now what they're [ __ ]
they don't even have enough money to fix
the toilet now I don't they go into
foreclosure and they lost everything and
then they say now real estate doesn't
work that's why it doesn't work because
you don't have the first piece you don't
have the first piece you got to get to
that first piece first now here's what's
very very interesting I know a lot of
people who do very well they don't even
have a scalable business you can be very
wealthy with a high income skills and
you make your money
and then you put it high with 20
investments you could do very very well
I don't believe I truly don't believe
everybody should have a scale of a
business it's not for everyone not
everyone is cut out for that it's not
not and you don't have to be that to do
very well like a friend of mine who is a
photographer just a photographer in
Vancouver very high and they may he
takes folder for chimp Addison's it's a
whole team he charges a lot of money
next six-figure income a year and he
started investing in real estate 2020
some what years ago today he has a
portfolio of about 250 units it's worth
about twenty twenty-five million dollars
high income skills for money aside
invest long-term 20 30 years it's got a
huge portfolio yes
the same are scalable business yes
Nathan it's not the business type is how
you do your business so let's say if you
are doing SEO as a sole proprietor not
to price it by yourself and say you're
making kin-kee a month that's high
income skill right
I suddenly let's say you know what I'm
gonna transition that into I'm gonna do
reputation management for bigger company
I'm gonna take on different type of
clients so you do your business modern
way you have a team that you're not
doing as much as the work you're
leveraging the team system technology
suddenly become a scalable business so
it could be that hey you know if you
want me it's gonna be five grand a month
to do SEO me but if you're on my team is
two grand a month so now you're both
going on does that make sense so it
depends are not it's not what you do is
how you do it yes did I say high income
job the difference is a job it's you
dictated by somebody else to say how
much you're worth a skill you're Decatur
by who at the marketplace and you can
increase that so one of your goals
should be increasing that every year I
don't care is 5% I don't get 10% I'm
making 100k dollars here this year I
want to make hundred 10k I wanna make
20 K you keep increasing the increasing
your value yes now let me give you one
more example sometimes people say to me
and say well you know gana let me give
an example it's a network marketing it's
a scalable business unright know a
marketing you don't put some people like
sue but don't like it it's a scalable
business the challenge yet 99% of people
will make money in network marketing
because they are using that as an escape
please write it down please write this
up you can escape from something you got
to escape to something you can't escape
from your job and say I jump into
something or maybe that will help me get
rid of my job it's not like that because
they don't have their skills in the
first place
and they jump to something and that's
what all is so hard I talk to my friends
and family and I get rejection I'm done
and this MLM [ __ ] sucks it has nothing
to do with that
how dare people making a lot of money
with they were mocking yes other people
making no money with no marketing other
people make a lot of money really real
estate are the people making no money
with real estate it's the same there's
nothing to do with that there's nothing
to do with that so with this now here's
what happens when your business doing
very well are you making generating a
lot of cash a lot of cash now he put
into you high return investment so you
make it you grow it now you kind of
pocket here that's in high return
investment you put in there you'll touch
it you just let it grow the growth of
net worth because your net worth and
every every month a look in it worth
statement it seemed it's getting better
and better and better and better
that's stability income cash flow net
worth here is the thing here's the thing
when you skip and people so jump into
that and you skip that with this
triangle now you know where you stand
and how you what you should focus on
actually you know what minute let me
give you two minutes how long just
discuss the amount of table what you've
learned so far okay go let's take a lil
bit deeper here that's take a little bit
deeper
now why it's important you have to hide
some skill before your scalable business
because here's what happens
let's say you start an e-commerce
business and it's growing and you're
acquiring customers and and you're
driving traffic it's doing well and now
you know like we know what it's good I
can scale this thing my question is
where do you [ __ ] do you come up with
the money to scale it because all your
money it's putting the business the
marketing the inventory you have a model
that works you have no money to scale
now at this point can you bring in
outside investors you could give a
percentage of the equity and all that
stuff you could but when you have your
scalable business first now you have
money to scale okay you know my bill my
bill is taking care of its okay
I've got money now I can have my
business talk about we investing all
your profit in back to business see some
tell a lot of people you only have a
scalable business they wanted to grow
but they also need to eat so they take
profit out pays for the day to day and
that's most of those down the you're not
growing as fast as they want versus no
mind come skills I I'm making money
nice missus just let it rot let it grow
make sense so you know very much depends
on so people ask me well yeah what
should I invest in it's very simple if
you're at the stage of high income
skills
what should you invest in yourself you
better be [ __ ] at 10% [ __ ] you better
is investing 30 40 percent of your money
into upgrading your skills maybe depends
on what you need maybe it's personal
development get your head screwed on
straight right let's fix that whatever
line said whatever limiting believe
maybe you need to go through that go to
Tony Robbins
go through that [ __ ] right walking by go
do that [ __ ] I went to that [ __ ] it's
okay
once you get through that [ __ ] you have
the mindset and now you know what I need
some skills let me let me read that book
let me let me hire the coach let me go
to that workshop let me do whatever it
takes to upgrade my skills work on that
a lot now when you are have a scalable
business we never schedule business what
you invest in mmm team what if you have
a business I can tell you very simple
the highest we print you get from your
business is when you invest in marketing
the best we turned you get is marketing
what
kind of investment you could put in a
dollar and if you have a skill Oh
business and it's converting and it's
working well can come up with two three
five dollars that's to 300% return it's
criminal in the stock market but in this
business is it is it common you spare a
bit of money maybe even five hundred
dollars in marketing you get a ten grand
sell is it possible it's that kind of
return so why would you put it into some
mutual fund at getting 8% it makes no
sense it makes no sense and who has more
control your business who have no
control over your business or some
mutual fund so a very simple give you a
scalable business state put most of your
money take your profit put it into your
business marketing hiring better people
team scroll the [ __ ] out of it just grow
let it grow it arrived and in the same
time keep working yourself your skills
that's why you know people come to me
and say oh I've got I got ten grand you
invested what should I do as I go to a
[ __ ] seminar improve your skills yes
the fact that you asking me you don't
know what to do with ten grand
tells me you don't know what to invest
in and you probably don't have high
income skills it's the worst thing you
want to do is all I'll buy the stock or
all that it's not about that I'm not
going to give you a stock table or my
dad or what it doesn't matter
only I'll go through the level of
investors is those investors who don't
know what they're doing that's why they
jump from one thing to another
here they doing day trading and we did
something else yesterday them yeah I
know I mean 90 percent I lost all my
might I know I think it's like 90
percent like I said out of Penn not even
to mix money okay I lost money right yes
because you could it's the easiest when
you have no skill that growth it's it's
incredible
when you have no skill you learn every
skill and you let's say you are you know
how many getting sales every [ __ ] can
should go out how many of you in sales
okay more in sales let's say you're
closing ten percent one out of ten you
learn some sales techniques you get some
sales training suddenly you're closing
two out of ten instead of 10% you close
20% you just double your income how good
is that it might take you an hour you
might take you just watch one video it
might take you one day who knows but is
that a good return you cannot get a kind
of return from any other investments
that's why I keep learning it's like
people I'm amazed that people would
spend the money on on the big plasma TV
I love my TV don't get me wrong it's the
spend stuff on that and yet oh yeah I
got to go to this workshop I spent a
thousand bucks and oh I don't have the
money believe oh yes please yes yes yes
[Music]
no and you don't have to be a big
business owner to do well like this what
happens is we see these entrepreneurs on
on magazines right and read the article
and oh that guy's so it's company 450
million dollars that guy shows
400 million dollars you never see the
guy well that guy just lost a hundred
million dollars he's not on the cover of
ink so you see one guy that made it you
don't see the 10,000 that die I am
saying most people died but it's not
very entertaining to talk about it right
yes he was close aides from bankruptcy
right when he raised the money yeah yeah
and now he sold needle mice like you
know attack you know he's like it's like
the next eShop you know that Tesla
you'll have a TV is a good thing it's
not betting it's not a bad thing so does
that make sense yes okay let's keep
going
Warren Buffett said investing in
yourself is the best thing that you can
do anything that improves your own
talents nobody can tax it or take it
away from you it can run up huge
deficits and the dollar can become worth
far less you can have all kinds of
things happen but if you've got talent
yourself if maximized is a key word next
summize your talent you've got a
tremendous asset I can return 10 fold
that's from Buffett that is from Buffett
that's why I never never over the years
stop improving my high income skills
it was six-figure then a seven-figure I
never doesn't matter how good my
business is doing how great my
investments are doing I'm saying no I
got to work on my skills
I got to work on my skills because I
don't know I don't know what is gonna
happen
yes the Knicks q I'm developing I'll
take very good question so I'll take you
through my career because it gives you a
clearer picture the very first high
income skill that I develop is
cooperating which is how the right ads
how the right ads how to put words in
print to sell and if I'm copywriting I
noticed I wasn't getting client because
nobody was buying and I was trying to
get clients I'll learn sales how to sell
on the phone from sales then I learned
how to do mock
he was doing marketing with people then
for marketing because cooperating us
you're working with clients I notice
they don't just want you to write craft
the words or the headline they kind of
need some marketing strategy
well how I'm gonna use this stuff so
evolve transitioning into marketing
consulting coaching type of work from
there I evolved into speaking as people
asking me well how do you do some of
these things that's a speaker you get
paid and then platform is selling which
is very different its selling from the
platform they're making money right from
there they're also transition into
deal-making which is kind of what you do
now joint venture and you're making
brokering so it's cute
I've give up whole and still holding
over the years right and then now
managing my money and then investing as
well right so we see over the years have
this treasure chest of this is all these
tools on my tool that I can hold on
anytime and I can do it I can make money
with it does that make sense so you in
at first you might just have one
eventually you might have more than one
you might have two or three I have a
whole bunch and then you might kind of
merge them together it's off possibility
as well so I never stopped I never never
stop make sense okay let's keep going so
most common events investing questions I
get and I've got rank a watch on invest
in are we answered that yeah what do you
invest in does it matter because it all
depends on what I invest in says I mean
why she's investing if I buy you know
investing or and gold as I mentioned
investing or no hell no hell no it all
depends on where you're at their wealth
triangle right so high incomes Q invest
in yourself your training of great your
skills should I pay off my debt first or
shall invest first I'm gonna get to that
should I pay off my debt first or
sharing best first he's interesting
cartoon sure 2% may not seem like a lot
but it's compound if you invest $1,000
now in just 10 short years you have
let's see one thousand two hundred
nineteen dollars okay so compound
interest isn't some magical force yeah
I'm just gonna try to make more money so
as you improve your skill sets you have
more income coming in you can scale your
business faster or maybe just put more
money into investments
put more money into investments
conventional wisdom teaches you how to
get rich on your current income here's
what I believe and I'll show you the
numbers if you can boost your income to
one hundred and twenty thousand a year
10k a month you should be able to create
a million-dollar net worth not counting
your house a car in seven to fifteen
years assuming you keep you expenses in
check he would assuming you keep your
expenses in check so you can get to that
10k a month even you don't never ever
ever have a scalable business if you
can't keep expenses in check you can get
them no no net worth in seven or fifteen
years
depends on what you do yes okay hi this
is Dan lock
welcome to Dan lock TV I want you to
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