Dan Lok: Hard-Won Lessons On Success From A Multi-Millionaire Entrepreneur

Chatting With Champions Podcast Interview #83. Tyler Basu and Dan Lok “Hard-Won Lessons On Success From A Multi-Millionaire Entrepreneur”

Dan Lok | Hard-Won Lessons On Succes From A Multi-Millionaire Entrepreneur | Chatting With Champions Dan Lok is a multi-millionaire, serial entrepreneur, and international best-selling author.

Dan got his first job when he was 16 years old bagging groceries for minimum wage at a local supermarket. That was the first and the last job he ever had. Instead of attending business school, Dan enrolled in the school of hard knocks where he painfully learned firsthand what works and what doesn’t work in any business.

Through hard work, relentless determination, and guidance from his mentors, Dan was able to build several successful businesses, become a multi-millionaire and a highly sought after business mentor. He’s written a dozen books that teach financial freedom and entrepreneurship, and is considered one of the world’s leading experts in internet marketing.

Visit Dan’s website: www.danlok.com

Topics discussed in this interview:

  • Dan’s background and why he became an entrepreneur
  • An overview of Dan’s journey as an entrepreneur
  • Top reasons why entrepreneurs fail regardless of which business or industry they’re in
  • How to handle setbacks & failures
  • Dan’s definition of success
  • Advice for aspiring entrepreneurs

Resources mentioned:

Key quotes:

Visibility is more important than ability. You need to be known. You need people to want to hire you. Without customers you have no revenue, and no revenue means no business.

I failed at 13 businesses before having my first success. Once you succeed, nobody cares about your failures.

Today I have the greatest job in the world. I work when I want, where I want, with whom I want, doing whatever I want to do.

I’m just a guy with desire and ambition and goals. And I didn’t give up. I just kept on going. Anybody can do it if they want it bad enough.

If you study failure and avoid those, the chance of you succeeding becomes much higher.

Entrepreneurs solve people’s problems at a profit.

Many entrepreneurs lack focus. They cannot focus on one thing. They jump from one thing to another. The greatest edge you can have is laser beam focus.

Most entrepreneurs fail because they underestimate the difficulty and the effort that it takes to succeed.

You don’t want to compete in a market or niche. You want to dominate it. Any company that’s a great company always dominates.

The number one quality of a successful entrepreneur is the ability to endure pain for a long period of time.

The great thing about business is you can screw it up, make mistakes, and fail many, many times. But it only takes one win to make up for all of those losses.

Success is living life on your own terms.

You want to strive for freedom and not comfort. You don’t want to do things that are comfortable. If every day you’re not doing something that scares you, you’re not growing.