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5 Keys To Building A Million Dollar Business

5 Keys To Building A Million Dollar Business


– A Unicorn in the tech world
or in the business world means a company with a value of
over a billion dollars. Now, I don’t know what’s your goal. Maybe your goal is to build
a billion-dollar company. Maybe it is just to build a six-figure business,
a seven-figure business, an eight-figure business. Whatever your goal is,
it doesn’t matter if you want to build a uniorn, or
not want to build a unicorn. There are certain steps. There are certain key elements
that you must understand and master if you want to
build a successful business. Now, today I’m going to share
with you the five key factors I believe, the five key
elements that you must master, the key word is mastery, we
must master, in order to build a scalable business. Number one, it is your
mindset, a proper mindset. Now when I say mindset,
exactly what do I mean by that? I am talking about your beliefs,
your attitudes, your ideas, your insights, your belief about
business, your belief about entrepreneurship, your
belief about employees, about team-building. Your belief: having the proper
mindset, the entrepreneurial mindset, is the foundation if
you want to build a successful business. You see, most people, they
want to build a successful business, but with an employee mindset. That does not work. You have to have the proper
entrepreneurial mindset. Number two, you need management. Companies only go out of business
because of mismanagement. Period. Because, entrepreneurs,
the C.E.O., they mismanage the revenue, they mismanage
the cash flow, they mismanage their marketing, they
mismanage their employees. Management. Now it is not something
that is easily taught. Management has to be learned. Also, leadership has to be earned. So, management is very very key. How will you manage your team? How will you manage
yourself? Self management. Key number three is marketing. You see, most entrepreneurs,
they start a business. They want to build a billion-dollar
company, but yet they don’t understand that business,
it’s about innovation, and it’s about marketing. Nothing happens until you get a customer. Nothing happens until you make that sale. And the purpose of
marketing is very simple. It is to attract and keep a customer. That’s it. How do you attract and keep
a customer? That’s marketing. There are hundreds of
ways you can do marketing. In a lot of my videos, I have
covered some of those aspects. If you have not watched those
videos, you can watch it on my YouTube channel. Number four, and that is having a mentor. A mentor. Standing on the shoulders of giants. Learning from someone who
has been there and done that. It is extremely critical. Why reinvent the wheel? Why not borrow someone
else’s wagon instead? Whatever you want to do, someone
else has already done it. You don’t have to start
at the very bottom. You can start at where your
mentor has gone, and start right at that level
and then go from there. Isn’t that a much smarter way
to learn, instead of going through the school of hard knocks? Last, and that is, mastermind. A collective intelligence. Hang around with people
that are smarter than you. If you go into a room and
you are the smartest person in that room, you’ve got a problem. You want to be the poorest
person in the circle that you hang out with. That’s the only way you’ll grow. You want a group, you want
to hang out with people who will pull you up
and not drag you down. Maybe they are your family and friends. But if they drag you down,
you don’t want to spend time with them. You cannot afford to spend time with them. So those are the five m’s. The five m’s: Mindset,
Management, Marketing, Mentor, and Mastermind. Those are the five things
that you must master if you want to build a scalable business. My goal is to build a
billion=dollar company. A unicorn company. Whatever your goal is, if
you want to learn some of the things that I do, if you
want to know how I do these five things, click the
link below, and join me on Dan on Demand, my global
community, where it’s all about mastering and giving you the
skills and the tools and the mindset you need to master
these five areas of business. (light techno music)

Comments (95)

  1. I learn a lot 10q dan

  2. What was your biggest takeaway from
    my video? Comment below.

    Also, you can comment any questions
    you have for me.

    I might feature your question
    in one of my next videos.

    Don’t forget. Like. Comment. And subscribe.

  3. That music in the background!! 😍

  4. you’re my inspiration.

    love from India sir. ❤️

  5. Dan is AWESOME!!!! Lear. So much from him… He ispired me to create a YouTube channel.. and now I d
    Can finally earn from what I love and by teaching others as well… So thank you Dan

  6. Love watching your vids. Finally got me the motivation to start my own YouTube channel and express my knowledge. Thank you Dan 😀

  7. Love the Gold nuggets. (1st)

  8. Love the Gold Nuggets. (1st)

  9. Another amazing video. Thanks a lot Dan for being so generous with your time, as well as advice on business and life. I hope to meet you one day!

  10. Doing something you're never done before requires you to change the way you think. Changing your mindset is the first, yet perhaps most profound change. Your thoughts manifest your reality!

  11. Great!!! Self Management 👍

  12. What the little company's can do about the concurrence of other geants company

  13. Thank you for your amazing videos! 💙

  14. Awesome Jacket! My biggest takeaway from this video: You need to know every aspect of your area of business, a complete mastery of it. Thank you for another great video Dan Lok.

  15. excellent mind set for success

  16. Yea ! 🙂 Thanks Dan ! you inspired me to start my own Youtube Channel !

  17. How can we build a business from the ground?

  18. S=See your goal.
    U= Understand the obstacles.
    C=Create a positive mental picture.
    C= Clear your mind of self doubt.
    E=Embrace the challenge.
    S=Stay on track.
    S=Show the world you can do it.

  19. 5M's are MUST to Master!

  20. Mindset
    Management
    Marketing
    Mentor
    Mastermind

  21. This guy gets me JUICED up! Regardless of the 80 Subscribers I have 😂If you see this show me some love!

  22. Genius! Dans talking about unicorns and there is the actual Unicorn Gundam that he's showing. Damnnn

  23. even one is looking at that robot, but they should really be looking at Dan

  24. That Sawano music in the background along with Dan's lecture just made this video 100 times more epic.

  25. lmao wtf unicorn gundam

  26. Thanks for the unicorn

  27. I'm ready to implement those advice. Thank you Sifu.

  28. Cool i so wanna do this

  29. quick question here.have a schedule for upcoming wing chun and jkd vids?THIS is one of the select channels i consult on all things martial arts related.also like to suggest STEP-BY-STEP instructionals in the individual forms.that's as in siu nim tau?chum kiu?biu ji?mu ren zhuang?weapons?in other words,they each get their OWN series.thanks for the time.sifu,all my best.yeah.-neo

  30. I love how you keep the content coming Dan!

  31. Love this video! I am building a business where it is providing investment education. By implementing some of your techniques, the business started to do well!

  32. I’m not gonna lie, i kinda got distracted by that robot

  33. If you wanna learn how to make sales on Shopify dm me: thedropshipper10

  34. Collective Intelligence. This is awesome. Flock with birds of same feathers. Thank you Dan

  35. MAKE VEDIO IN HINDI PLEASE

  36. dan how about buy that big robot.make a video boss in the gunda.

  37. Beautiful video dan

  38. Great content, sir,
    Thank you,

  39. That would be your best video yet sifu. Clear concepts, clear definitions, clear filming, clear explanations. Yup, no doubt… (and yes, I've seen all of them).

  40. All the rich people and kids at my school just spend money away, so when we go out they just expect me to go spend with them. That's my social group, but I know how to manage my money though. What groups can you suggest for me. Online?

  41. Awesome Video thank you Sifu!! You are the product of your environment be it good or bad! That Robot is Unbelievable!!! Cool!!

  42. Dan, please make another video on Copywritin.

  43. 🎉🎊Happy diwali to peoples from india 🙏

  44. Hey dan! Frst of all i would like to thank u for ur advices… It has helped me alot and i can now see things differently…
    My question is, What so u think about partnership businesses?
    Like , what are the things to remember before jumping into partnership with a friend or family member?
    Thinga that we should look out for while investing in partnership…

  45. ur my master Sir Dan

  46. Thank you Sifu Dan for the 5 M’s to millionaires! Very valuable content!

    It’s awesome to see you doing this video at DiverCity Tokyo Plaza in Japan with the Unicorn Gundam Statue! My husband and I are actually heading there from Thailand tomorrow!

    HTC Season 7, the last 7-week live program for the year is happening this week, and it is going to be amazing having you continue to impact more people’s lives!

  47. What do you guys think about the DanOnDemand? I'm at a point that I'm really tempted… I've followed Dan since about a year and a half, studied almost everything he taught, i have written about all his stuff… I've failed a few dropship businesses, got lucky once from good marketing, but nothing after… I've red FU Money, Richdad PoorDad, Think and Grow Rich, a bought a few of Robert Kiyosaki's books, i have a completely changed mindset since last year, a full mind renovation, new ways of thinking, my relationship almost failed countless times, now it's stronger than ever. I'm on top of the fucking world but when it comes to doing business, something is fucking not right and its driving me fucking nuts. I just fucking wish i knew and pinpointed the problem but it's not clicking. Anyways, whoever decides to read this, give me some input.. i haven't seen anywhere on his landing page that the OnDemand thing won't replicate FU Money book because that would be a reason for me not to pay… I've read it twice. I need to know if its the FU Money book broken down or is it new things. Business-related.

  48. Thanks Dan am going to use this for my business.

  49. All very important points. Managing cash flow is one of the most important aspect, no cash, things can't move…

  50. Odaiba? That's the place where I plan to work hard and visit there myself one day just to meet that giant ass Gundam

  51. Mindset and mastermind – Will you cover these two in the upcoming DoD training?

  52. Hi dan you shuld do a calbartion with sucses insider. Are valutanmint i think you will like ther rags to riches story and what thay did to sucsede

  53. Dan can you make Dan on Demand accessible through PayPal? I don't have a credit card but I want to join

  54. Great list. I think everything stems from mindset, as it directly influences your belief, willingness to follow through and ultimately your actions

  55. you are a genius sir

  56. Would you like to be my mentor?

  57. All works in theory
    Their are many more things beyond just thid

  58. Don't sell the product sell the result. I love this channel.

  59. LOVE FROM INDIA HAPPY DIWALI DAN LOK . ITS OUR INDIAN FESTIVAL

  60. Super advice Dan. Plus you look great in the new casual outfit.

  61. Love you for teaching without reservation.

  62. Love you. For teaching without reservation.
    Thanks

  63. I try and try and try yet I cannot find a god damned mentor…in anything. What the fuck am I doing wrong?

  64. Hello Dan,
    Last couple videos I have realized you've been shooting videos in Tokyo!
    I'm super happy that you've visited my country, Japan!

    I have been running an English teaching business in Japan and
    I just want to thank you so much for giving me the idea of getting comfortable raising price if I have enough confidence
    in my service.

    Hope you liked the food, culture and the people in Japan!
    I am looking forward to watching more of your videos!

    Cheers,
    mochan

  65. I want to know how you manage your day between your personal life and work?

  66. These are some great points. Dan is speaking the truth folks.

  67. i will be my own mentor

  68. your last concept is the first concept in the book "the laws of success" by Napoleon Hill. Thanks for the video Shifu..

  69. Hats off sir hats off

  70. The problem is I want to build my circle with winning people but as they are also looking for the same they are looking for the mastermind which are on higher level from them , they will never hangout with others
    The truth is
    Ballers hangout with ballers👍

  71. New upload from sifu AND the Rx-0 Unicorn Gundam? Wow today is a good day.

  72. Hello Dan!

    My name is Guilherme, I'm a huge fan of yours!
    I'm a brazilian entrepreneur with THE GREATEST will to win!! I prove it because I have the guts to invite you to enjoy my work in the comments of your video!!!

    Let me prove we'll be a great team, send me an email :
    [email protected]

    Let's rock!

  73. U had to stand by one of the strongest Gundam built yet…

  74. hi Dan i follow since a long time now and i don't intend to stop…
    im a french guy leave in a english country(south Africa ) for 4 years i have been learning English for 4 years now but people always tell me im not audible when i speak …. i would love to learn from you on how i can improve that

  75. 1. Mindset
    2. Management has to be learned and Leadership has to be earned
    3. Marketing
    4. Mentorship

    The mentor part is the part I've had a hard time with. I think I take mentors digitally rather than physically.

    But with

    5. Mastermind it's possible to find the mentors. I think Dan made a video on how to find mentors so I need to check that out again.

  76. Love this sensei <3

  77. Dan, great video, I cannot wait to see you hit 1M subscribers.

  78. Hi, Dan! great content 😉 i have a question; Should someone who's clearly broke, poor, have nothing offer walk into a room with a bunch of people, having the mindset "Meet People Smarter Than You"?

  79. You are my Only Mentor DAN LOK

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