Transcription: Act As If You'll Become Successful - How To Invest Like A Millionaire Ep.7 - YouTube

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00:00:00
How many can see a level five investors operate some things very differently from a level two, three, yes Very, very different, and that's how the pro does it.

That's how the pro does it.
Let me give you: is it okay? If I give you a bonus before we go Hello, [ Audience ], Yes, Yeah a bonus.
, [ Narrator ], The King of High-Ticket, Sales.

(, dramatic music, ) World's Highest Paid Consultant.
Media Celebrity.
, Multi-Millionaire Entrepreneur.

Acclaimed, TEDx, Speaker.
International Best-Selling.
Author.

- Dan Lok.
, So bonus money principle.
Number four is act as if.

Act as if.
How many have read Think and Grow Rich.
? I think most of us have Think and Grow Rich.

Now notice.
It's not cost save and grow rich.
Or be cheap and grow rich.


00:00:57
It's called Think and Grow Rich Think and Grow Rich.

00:01:03
You hear the conventional wisdom.
Waste not want not be tight, be frugal.

Cut up your credit cards live below your means: don't drink the latte coffee in the morning.
, How many drink latte? How many like drink? Starbucks? Okay.
We talk about.

Oh, you save a few dollars and you invest that in whatever, however many years compound interest and make a shit load of money.
, How many heard a penny saved? Is a penny earned? Yes, Here's the problem.
A penny saved is still just a fucking penny.

It doesn't change anything.
If that Starbucks coffee makes a difference.
You're not earning enough with your skills.

If that makes a difference.
Now for an employee, it's okay, because again, income is fixed, but for entrepreneurs like us, we upgrading your skills, we're improving all the time.
It's not how you get rich.

, You can't get rich'cause.
I know some cheapskates in the room.
I know that.

( audience laughing ).
I can see from your face.
I can tell.


00:02:07
You can't get rich on the cheap.

00:02:08
Listen to me.

00:02:12
You can make maybe 100k a year.

Middle class.
, Top 6 % of the population.
You can be frugal.

Cut up a credit card live below your means.

00:02:26
Those are the people you read from millionaire next door.
, I'm not talking about that.

, I'm talking about being the 0.
1 % in the population.
, Not the top 6 %.

You don't get there by being cheap, because when you're cheap, you're frugal, you negotiate hard.
Nobody wants to do business with you.
, I'm known as being generous in business.


00:02:47
That's why people wanted to work with me.
They partner with me'cause, I'm generous.
I do a deal.

Let's say I do a deal, I could take this much money.

00:02:55
I always say you know what don't need to give me that much give me this much.
I volunteer to take less.


00:03:00
Everybody else would say give me every fucking penny.
When you take less and you feel good about the relationship they come back and they do more deals.
When business comes to you, it's much easier to do.

Business.
When you try to chase business, you have the reputation being like a cheapskate.
Nobody wants to do business with you.

, It's very, very hard.
You might think I got a great deal.
I twist the guy's arm.

I negotiated hard.
Well guess what there's? No second time.
! You want that reputation or do you want the reputation why I just did some business with Dan? I mean he's a great guy he's generous.

You know we make a lot of money together.
, Which reputation? Do you want Reputation? In other words, another way of saying it is what I call relational capital.
Relational capital nowadays is worth more than actual capital, because relational capital, you can generate infinite wealth with it.

Infinite wealth with it.
So most people save their way to bankruptcy.

00:04:00
They save their way.

To bankruptcy.
, Now I'm not talking about living off your credit cards or borrow money.
I'm not talking about spending.

Foolishly either.
, You should buy whatever you want.

00:04:13
As long as your income grows and as long as the gap remember, the saving investing ratio.

As long as that keeps getting larger.
Instead of cutting up your credit cards living below your means and always feeling poor, I have an aunt in Hong Kong.
Whole life.

Her whole life, like you, talk about cheap I've, never met a cheaper person in my life.
Like when we have family dinner when it's time to pay she'll like sneak to the bathroom.
Every time when the bill just five minutes before the bill comes she's in the Bathroom and she's waiting.

When it's all finished all paid and all that stuff, and then she comes out every time.
Every time.
When I get lucky money, I still remember see.

You know my relatives give me a hundred bucks.
You know $ 200.
She always gives me coins or a candy.

( audience laughing ) Or a candy right.
Probably expired, who knows.
( audience laughing ) Gifts from other people.

She's, so cheap, and I look at her and she's accumulating, maybe a little bit of money, not even a lot Of money.
, I look at her.
She is miserable.

She's, not happy.
, You see.
Sometimes these people are cheap.

You see their face, like.
( audience laughing ) Because that's her face.
, Like stingy like.

, Have you seen those people before They are like that.
? Do you want to hang around with people like that Hell? No, But you can see from their face they're like that.
, ( audience laughing ) Fuck Right get away from me! Right.

Shit! Right.
! I don't that cheapness on me.
Man shit.

, It's true! It's our word.
Yeah Instagram, that.
, No cheapness on me, man, That's what I mean you can't get rich on the cheap.

, It's very, very hard.
When you have the abundant mindset instead of being tightfisted, have the open palm approach and just give and have the abundant mindset.
It's so easy and you're, not it's very interesting how money works.

You're, not thinking about it, you don't worry about it, you're not needy it.
Just comes.
Comes so fast seriously.


00:06:23
Just take my word for it.
When you can get to that point and say I'm not thinking about it.
I just want to do what is right.

When you do the right thing with the right people for the right reason: money, comes.
, Money, it's believe them making it can you see money making.
It is actually not that hard, It's keeping it and investing it.

That's the hard part.
Making it it's actually quite easy.
, You're good with sales you're good with marketing.

You can make some because most people suck at it.
Most entrepreneurs, don't know marketing, don't know sales, don't know.
Much.

I'll.
Tell one story before I go.
When I was just getting started many many years ago as a speaker and sometimes I have to travel, to different places to speak and to the airport.

, And I want to condition my mind to have that abundant mindset that abundant mentality And at the time I was still living in Surrey - and I would you know from Surrey to the airport, if I take a cab and they tell it'll cost me about $ 60, 60 $ 70 or so.
, And one day I thought you know what what can I do to act as if what is it [ Audience, ] Act as if.
Act as if to infuse myself with the feeling of wealth that I deserved a better life and upgrade my lifestyle, and I said you know what I'm gon na get a limousine.

Instead of a cab.
Now a limousine costs about a hundred 110 bucks.
, So a cab is 60, a limo's like twice as much hundred bucks 110 bucks.

Now there are extra 40 50 bucks, doesn't matter.
Hello, [ Audience ] No.
No.

But let me ask you a question.
: Is there a difference going there in a cab versus a limousine, [ Audience ] Yes.
, You bet, there's a difference, there's a big difference and I notice in the limousine when I'm in the back and not the short shitty ones.

The long stretched ones.
Just me long stretched ones, and I was in there just like in the cab.
It's just like you know, and the thing and all in the water here and then Fiji and then you have the music going on.

I'm like this is kinda.
Nice right.
And I can see when I take the cab.

Nobody looks at the car.
When I take the limo.
A lot of the people look at the car.

Who's in the car, And then I thought that's interesting and that confidence that abundance, that whatever that thing is the self esteem when that carries me through when I get to the airport, when I get to the place And before I speak, I found that it affects my performance.

00:08:51
I found that it affects my performance because in my mind, maybe subconscious when I got to the stage I took a limousine.
, ( audience laughing ) To be here.

, And then I try and I switch back to a cab.

00:09:07
I felt so shitty.
( audience laughing ).

You know I sat in the cab and then the driver's kinda smelly.
I got a stick of gum on here like what the fuck is this.
Where is my limo? Where is my limo? So from then on? I said no more cab.

, No more cab.
, The limo becomes my new comfort.
, It becomes my new comfort and I do everything I could to want to.

I want I like this.
I like this and that's why I shared with some of you last Fiji.
I said next year my goal is to fly private.

I hate the commercial lineup, all the security bull shit.
I said I wan na fly.
Private.

Now does flying private cost a lot of money, [ Audience Member ] Yep.
Is it an outrageous amount of money Absolutely.
? So I ask myself: instead of I can't afford it, which is what most people do I can't afford it.

A resourceful person would ask: how can I afford it.
Rich person would ask? How can I make it make me money.
, You see the different levels of thinking.


00:10:15
So, instead of saying, let me get to that so instead of saying I wan na fly private, oh, I can't afford it.
Man, it's just too expensive.
Well, resourceful person was well.

How can I afford it? How can I do this? The rich person say: how can I make it make me money, so I came up with a plan.
I look at the numbers.
In order for me to fly private to fly private, I don't need to buy a plane.

I can join a chartered membership and I calculated the numbers.

00:10:41
I said if I can do 10 speaking gigs next time next year, 10 speaking gigs about one per month.
, Okay, and if I get paid 15k for a speaking gig and the organization usually would also they pay for accommodation they pay for the flight.

If I can negotiate in the first class flight with the money, I could fly private.
So normally I'm flying private, I'm taking a vacation'cause, usually I'll stay a few days with Jenny extra.
It actually makes me money and I can fly private.

Do you think? After a while, I fly private, I wan na go back to that.
Fucking Air, Canada, shit, (, audience laughing ) Right Right Hell! No, You know the fat dude next to me right like what the hell man.
Shit lose some weight.

( audience laughing ).
You know what I mean It just doesn't happen no more right, and I want that to be my new comfort and that's just a lesson.
Here.

Don't say I can't afford it say.
Well, how can I make it make me money.
Same thing with my new home.

, It's a nice home now.

00:11:47
My homeowner can tell you I'm transparent.
I bought the home for 1.

25 million earlier this year.
Now, probably it has gone up four 500k.
Nah.

It's a liability! However, rich person, how can I make it make me money.
By getting the house eliminate all the outside meetings? I have to do so.
I calculated my earning per hour.

If I can get one more productive day per month, it more than pays for the house.

00:12:15
So I actually make the thing make me money.
Now, could I have gotten a bigger house.

I could have bought a two three million dollar home.
, But then again I'm not following my principle of saving my percentage.

00:12:27
I don't need to be foolish with my money.


00:12:30
My house is nice, but it's not like super five million dollar home.
, It's the best home for me.
, Not for everybody else.

You got it.
It's just the ideal home for me.
It's a nice home 4,300 square feet.

Six bedroom, seven bathroom, it's enough for me.
, It's a nice home, no complaint, but from there I can make it into an asset.

00:12:48
So it's all about this.

So for some people, it's liability! For me.
I work from home.
I save time I don't have to go to the gym.

I have the basement.
I can work out.
Save me money on going to the gym, save money on gym membership.

I have a karaoke system, save money going to karaoke.
( audience laughing ).
No, I calculate it.


00:13:07
My karaoke money is two grand a year right.
I calculate all that shit.

00:13:11
Yes, I could charge.

, You guys.
Can you know? Come fucking 20 bucks an hour, right.
Turn it a money making thing right and then I get some alcohol.

You know.
Price, it up.
( audience laughing ).

That's all I need right.
You see the difference in thinking.

00:13:27
That's what I want you to get.

, Don't just say ahhh I can't afford.
How can I make it make me money? How can I make it make me money? It's all just a simple shift.
There's a great quote.

I like.
The mind once stretched by a new idea, never return to its original dimensions.

00:13:43
Here's my quote: a wallet once expended can never retract to its original state.

( audience laughing ).
Once you get used to living a certain lifestyle, you'll do whatever you have to do to continue living that lifestyle.

00:13:58
Yes, [ Audience, ] Yes.

! That's what I mean so act as if act as if you're, already wealthy and then you'll surely become wealthy.
Act as if you have unshakable confidence, then people will surely have confidence in you.
Act as if you're a leader and people will follow you and act as If you're already a tremendous success and then you will become successful.

, Okay, thank you very much.

00:14:25
( audience applauds ).
Now what you saw is a presentation that I did to a group of entrepreneurs.


00:14:34
If you enjoyed it, make sure you give me a thumbs.
Up.
Share with me your thought and if you have any questions comment below because in the future, I'm going to take some of these questions your questions and make a video out of it.

Hey.
If your question is good enough, I might just make a video like this and answer it and don't forget to hit subscribe.
Click on subscribe turn on the notification climb thumbs up.

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Go for it.
Let's do it.


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