3 Powerful Networking Secrets of Influential People – Dan Lok

– Can I have two people? How many? Two people. Go to the mic share. What did you get out of this exercise? – Me and Matt have a question for you. – Yes, please. – I don’t understand one thing about You know when you said,
“Form the message.” What is it that you’re
saying to the person that you are calling to action? What do you mean by that? – Very good, very good question. I’ll answer that after the share. – Thank you. – For some time – Hold on, what’s your name? – I’m sorry. (laughter) My name is Alfred. – [Audience] Hi Alfred! – Hello everyone! That sometimes it’s quite
awkward to meet new people and ask those types of questions but I’ve found that over the years that in my business, I
was a fitness trainer and having to meet new people that’s how I overcame a lot of shyness so in coming up with you guys it’s a little bit easier for me to do. But you really need to
get to know somebody and you can make some really
interesting connections and possibly (coughing) – Okay, great. Round of applause. (applause) Energy, zing – My name is Hannah. – Hi Hannah! – Hi everyone. So what I learned from
today is when people ask me about myself and people
constantly without them asking keep telling them about
myself, even though- – How many of you do that? (laughing) – And it’s good to
review what I’ve learned so I ask, see I don’t
even remember the name Super Sam, Super Sam yes. I spoke to him and he said,
“Oh I come here for fun.” Oh this really good quality,
just want to come here for fun? And I asked him what he learned today and he talk about the seven and staff and I asked him what he can apply and bring home today he said he’s gonna go
home and follow the step and it’s good for me to review that the first three steps to master a lot of people go all
the way, not in order and try one another so
it’s good for me to review and meet new people, good exercise. – Great, round of applause. (applause) Energy, zing. Very good, very good. So when you’re informing,
answering your question with the message, the message depends on needs and their goals
and their strengths. It’s not waiting for
your marketing message hey you know what, let
me talk about my business let me give you my business card that’s not what I’m talking about so the message, the call to action depends on what the other party needs. So in this case, let’s say Suzanne what did she say she’s looking for a joint
venture partner, right? And her goal is that she’s got a book she’s thinking of writing a book her goal, aspiration is
to do bigger conferences and help more people, right? So that depends on in
this case if Ken knows or he has the expertise
or he has the network that can help Suzanne. See, don’t feel like when you meet someone it is an obligation that you
have to exchange information. There’s no one saying,
there’s no law saying when you meet someone, meet a
stranger at a networking event you have to exchange information. No sometimes okay great, nice meeting you and that’s that, that’s okay. So the people that you feel
like you’re connecting with you might be able to help them then that’s when the exchange happens. Sometimes the message was
it was very nice meeting you I hope you enjoyed the
conference, that’s it and you move on, you don’t
have to get something from them or they get something from you. It makes the whole
thing very awkward, yes? So let me give you three strategies. How many? Three strategies. When you go and network,
changes everything. First strategy, first secret is you want to become a person of value. You want to become a person of what? – [Audience] Value. – Value. Write this down, money earned is a by-product of value creation. Making money is actually pretty simple. Money earned is a
by-product of value creation meaning the more value you deliver the more people you deliver value to the more money you’re gonna make. It’s very, very simple. It’s very, very simple. You want high income? Serve more people. I make a lot of money because
I serve a lot of people. It’s very simple. So how do you become a person of value? Well, if you are a person of influence you are valuable. If you are a person with
expertise and experience you are valuable. If you are a person with a big network you are valuable. You want to become a person of value and here is the key. You’ve got to become a person of value bracket beyond your
core product or service. Beyond just what you do, so Dy here Dy has to figure out
how can I deliver value beyond just fitness. Maybe it’s marketing,
maybe its something else maybe it’s your network,
maybe it’s who you know you’ve got to learn how to deliver value because if you can only deliver value based on your core product and service isn’t that very limited? It’s very, very limited so that restricts the amount
of people you can help the amount of value you can deliver so that restricts how
many people you can meet how many people you can serve and how can you expand your network? You can’t. So you have to be more diversified
not just thinking about okay here’s what I do,
I’m a mortgage broker that’s all I do, you have a mortgage? You need a new mortgage? Let’s talk. You don’t need a new mortgage? That’s it, I can’t help you, no. So become a person of value
beyond your product or service. Number one. And as an entrepreneur you
don’t get paid for your time. Write this down. You get paid for the value. What is it? Value you bring to the time. You don’t get paid for your
time as an entrepreneur you get paid for a result. You get paid for the value
you bring to the time. So how can you become more valuable? How can you become more valuable? Just shout out the answer, how
can you become more valuable? – [Audience Member] Become an expert. – Become an expert, okay,
learn your subject, yes. How can you become more valuable? – [Audience Member] Be more
efficient with your time. – Okay be more efficient
with your time, okay. How can you become more valuable? – [Audience Member] Add value to others. – Yeah but how can you
become more valuable so you can add value? – [Audience Member]
Take interest in others. – Interest in others? Maybe also expand your interests. Not being so narrow being
focused on whatever that you do. Strategy number two, you want
to network for your network. So here’s how it works. Let me explain to you, this is it. If we remember nothing else
from tonight, remember this. So typical networking. You go out there, this is you, okay? Smiley face, I’ll draw a smiley face. This is you, most people
go network with people and hopefully you try
to get some business. Now you’re not gonna
do that any more, yes? You’re not gonna do that any more, yes? – [Audience] Yes. – Jesus, okay. So you go there, it’s
a one way communication you want to get something
from the other person the other party, okay? So instead of doing that, how many of you have clients right now in your business? Have clients? Okay. Think of, in terms of referrals. Where are most likely are
referrals going to be coming from? – [Audience Member] Existing clients. – Your existing clients
because they’re doing business with you, they trust you
and they like you, yes? So here’s what you do. First of all you go back to your clients and you get to know
them at a deeper level. What kind of needs do they have? What goals do they have? Beyond your product or service. What other needs do they have? What other goals do they have? Here’s what you do. When you go out and
you network with people don’t network for yourself,
you go and you network for your clients, okay? You network for your clients. Let me ask you a question. Let’s say you are a realtor. Gary is a good example, right? My mentee also. So Gary you go and you network. So if you look at that beyond,
your real estate service as a realtor, you get to know your clients and they all are entrepreneurs, yes? You get to know their
business, you go out there and you try to find business for them. What happens when you send
clients to your existing clients? What happens? – [Audience Member] They
become better clients. – They become better clients. – [Audience Member] They’ll
send you more referrals. – They will send you more referrals. A stranger who has never
done business with you how the fuck can they refer anyone to you? (audience laughing) They haven’t experienced
you, it makes no sense. But your existing clients who like you have been doing business
with you for years be honest with me, how many of you don’t actually know
your clients that well? Besides the transactional relationship. You get to know them well,
find out their needs and goals and you refer clients to them
and they refer clients to you. Make sense? So when you go out there,
you don’t have the problem you don’t have to talk
about yourself at all. Because you’re not
networking for yourself. You’re networking for your network. You’re networking for them. So in this case, it could be let’s say Ken and Suzanne. Ken might be saying “Oh you know what? “I actually have another client of mine “who has a big list and who
has been promoting events “I think maybe he can help you “he provides phenomenal service, right?” And then Suzanne says, “Oh that’s great “give me the referral,” right? They might do some business. Now when they do business, this client he’s gonna think of Ken. Wow, Ken sent me the
referral, that’s great we’re doing some business now. I’ve got to send Ken some clients I’ve got to help him
out a little bit, right? You do that for a client,
so network for your network. Make sense? You don’t go for yourself, okay. Now you might say, “But
Dan, what if I don’t have “A large network of high
quality people right now.” It means you don’t have a client you don’t have a big client base you may be getting started you don’t have a lot of clients right now that you can send some business to. Then what do you do? Well, let me give you a
tip, would you like a tip? – [Audience] Yes. – Okay. Associate with the people that
already have a huge network. If you don’t have one,
associate and leverage the people who already
have a huge network. So in this case, Gary Gary go to the mic actually and share. Round of applause. (applause) Six figure realtor just so you know. Now Gary, what did you do
when I shared this with you? So remember I went back
and said you know what go back to your clients,
how can you deliver value beyond just your core
product and services? By the way, everyone say, “Hi Gary.” – [Audience] Hi Gary. – Hi! – [Dan] Yeah, what did you do? – Well what I do is I just try to find out what my clients do, most of
them are working 9-5 jobs. But a lot of them are looking for jobs so when I see them, they go
oh I’m looking for a position in journalism, I don’t
know any specific person I’d be like oh I know a HR director LinkedIn kind of introduction and I went to school
with a bunch of people and a lot of them are
looking for jobs then what I was trying to do is oh you’re interested in marketing? I know a marketing, some
professional I can connect to you. So what I do is I just try to help people and yeah, sometimes school teaches you networking is just pass
everyone your business cards. Like business school, they teach you go to networking events
so that maybe you can get a job at Teles or Hydro or whatever but then some of my class mates actually started helping other class mates. They’d go, “Oh you want
to get a job at Hydro? “I used to work there,
let me connect you.” So I started learning from
other fellow class mates. – [Dan] What percentage of business is now coming from referrals? – Like, all of it almost. 90%. – Think about it, think
if you’re Gary’s client. You bought a home, he gets to know you about your needs and your
goals and your business and after you purchased a home from him he keeps sending you business. He’s trying to help you grow your business beyond just selling a home. Not goodbye, thank you,
wam bam goodbye ma’am. It’s not like that, right? It’s more serving you after
the transaction is done. When you want to buy another home who are you gonna think of? – [Audience Member] Gary. – Because there are so many
realtors you can choose from. But Gary is the only one
that has been sending me business that’s been helping
me out beyond what he does. Yes? Round of applause, round of applause. (applause) Energy, zing. Question? – [Audience Member] If you
have an online business – Yes. – [Audience Member] So how do you- – Oh good question. So what if you have an online business how does that work? So if you have an online
business, how does that work? Tell me. – [Audience Member] I
mean with the clients I cannot really learn about the clients. – Michael? – [Michael] Maybe you can try to get the community onto Facebook and get offline people on Facebook and then real faces to faces that way you can make the connection. – Ali? – [Ali] The concept of blogging. Blogging is the way you’re
teaching others different things. You might be, I don’t know, a plumber but you’re talking about plumbing stuff you’re teaching people about
things around your business through blogging which is online. On the side, you’re
selling product but here you’re creating traffic. – Yeah and let me show you what I do. Even though an online business,
not just an email address. Not just a list of where
you can send offers to. So out of that, actually DJ
is gonna cover that next class that we talk about 80/20 and the top 20%. You want to focus on the
top 20% of the clients you get to know those on
a more personal basis. What are their goals? What are their needs? So out of my list, of
course I have a big list. But out of that, I have a
core group of entrepreneurs that I connect with, not just LinkedIn I know their goals, I know their website perhaps we have chat on the phone briefly. Those are my friends, right? That’s my network. So when I go to them, I
can pick up the phone. If you cannot pick up
the phone and call them that to me is not a relationship, right? You have to be able to pick
up the phone and reach them does that make sense? Get to know them more,
but DJ will get into that a little bit more in depth. So strategy number three before we go. You want to form or join some
kind of mastermind group. How many of you belong to some kind of mastermind group right now? Okay so if you don’t know
what a mastermind group is it’s a concept from
the Napoleon Hills book “Think and Grow Rich.” Basically, it’s a group of
people, like minded people that you get together once a month or something like that,
maybe even more frequently and you will brainstorm
and you support each other and you help each other, some
kind of mastermind group. So, if you think in terms of this way let me share a very simple,
simple story with you. How many have heard of Iman? How many know of Iman? So, earlier this year
a few friends of mine had been talking about Iman. Hey you know what, Iman’s a great guy he owns the Vancouver business network which is one of the largest meet up in VC. He’s a great guy, you
guys have a lot in common. Actually he’s teaching a lot of stuff Dan what you were
teaching eight years ago. I thought that’s interesting so I thought I would connect up with him because I’m always
connecting up with people so then I pick up the
phone and I call Iman I said this is what I’m doing now I did not pick up
the phone and say Iman here’s my service, here’s my
product, buy something from me. Doesn’t mean I’ve got nothing to sell. Instead what I did is, I invited him I said, “Hey Iman, my name is Dan Lok “check out my website here’s
some of the work that I’ve done “I’m interested in
forming a mastermind group “with local successful entrepreneurs “and one of my friends gave me your name. “So that’s why I’m calling you
to see if you’re interested.” What did he say? “Sure, sounds good to me.” So I said okay great. I bring him into my network. So we meet and then we get together with the mastermind meeting and we talk and we brainstorm
and we share our challenges our goals, I get to know him
on a more personal basis. Afterwards, it just happens
in a few months, right? Afterwards, since then, actually Iman without me asking, by the way. He has promoted me twice to his audience without me asking, okay? Now we also actually business partner in one of the companies. Did I try to go and say, “Hey Iman “Would you like to be
my business partner?” I hadn’t even thought about that. I invite him to my mastermind group where now you can deepen. What’s the word? – [Audience] Deepen. – Deepen the relationship. Now you will only invite
the people you think are the cream of the crop
to your mastermind group. When you meet someone at networking you don’t have to try
to sell them anything myself I belong to three mastermind groups that I personally created
and we’ve made millions. Millions of dollars from that group just through joint venture opportunities without actually mentioning
anything about joint ventures because we develop relationships. When you see them once a month three, four, five, six months you’re gonna do something, believe me. You’re gonna do something. And even if you don’t do
something, is that okay? – [Audience] Yes. – You get value, yes? So now from them on,
you go and you network. It’s one of the three key things. You either invite them to your mastermind or you refer them to your clients or you see how you can add value. So that becomes like that. Not this. It’s this, one of these
three options, that’s it. Make sense? Okay take two minutes to
discuss what I just said. Two minutes, go.

30 thoughts on “3 Powerful Networking Secrets of Influential People – Dan Lok

  • Remember 3 tips when you go out to network: "1) Become a person of value 2) Network for your network 3) Form a mastermind group" 
    QUESTION for you: What are you doing currently to become a person of value?

  • Dont see it as obligation.
    1. Become person of value (beyond std)
    2: money is byprooduct of high value

    Value is salary for entrepreneur
    Networking for your network.

  • This changes the way I think about my networking group. Typically we take turns talking about the type of referral we want. Now, I will think about how can I add value to THEM first.

  • You can add value by listening and asking questions in order to help by providing a solution by your perspective backed( argumented ) by a similar experience/analogy 🙂

  • Watch video multiple times to pick up on everything. Main gold nuggets:
    #1. There’s no law saying that you have to exchange information. When you network, be genuine. Get to know the other person. If there is a connection or an opportunity to add value, then that is when exchange of information should occur.

    #2. Money earned is a byproduct of value creation. The more value you deliver to people the more money you are going to make.

    You want higher income?
    Serve more people.

    #3. Become a person of value. A person of value is a person of
    1. influence
    2. expertise and experience
    3. big network

    #4. You have to become a person of value [beyond your core product or service]

    If you can only deliver value from your core product or service, isnt that very limited?
    So that restricts the amount of value you can deliver, restricts the amount of people you can serve, and restrict the amount of people you can meet.

    You have to be more diversified to expand your network.

    #5. As an entrepreneur, you don’t get paid for your time. You get paid for the value you bring to the time.

    So how can you become more valuable?
    1. Become an expert. Learn your subject.
    2. Expand your interest in others.
    3. Podcast, blog, create videos (content)
    4. Speak, host events
    5. Refer business to your customers.

    #6. You want to network for your network.

    Go and network for others. Network for your clients.
    1. When you refer customers to clients, they become happier and better clients.
    2. They refer more business to you.

    “Dan what if I don’t have a large network of high quality people?”
    It means you don’t have big client base. You don’t have clients to send referrals too.

    Associate with people who already have a huge network.

    #7. Join a mastermind group.

  • Being in HTC and learning from Sifu Dan Lok, I now don't worry about getting something from everyone. I already have the best, so I can now apply these skills and network for my network, and geniuinely give value and learn.

  • Dan when you say become a person of value, could that mean also increasing your skillset? By the way thank you for the insights.

  • So many ah ha moments for me in this. I’ve always found networking a little awkward. ‘Networking for your network’ feels far more worthwhile and purposeful. Thank you Sifu 🙏

  • Totally agree with your comments on service and becoming a person of value. Also agree about expanding your interests as a way to become more valuable. But probably your best tip you gave: network for your CLIENTS. Love that! Thanks Dan!

  • Well stated, Sifu Dan. As you say and I'm paraphrasing, "your network is your network". Integrating this philosophy into a routine strategy is altering the trajectory of my business and personal life.

  • Really open my mind. I always have trouble getting into network or meeting new faces. I stop working for other companies and help out in family business for years, so getting back into network seems impossible for me. Now I learned what should I focus in.

  • My biggest takeaway is you need to create value beyond your core area of expertise. One way to do this is to get to know existing customers and find out their goals and needs beyond the service that you provide. Then you can refer your clients to other clients.

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