The Ladder of Wealth: How to Climb Your Way to Financial Independence


(dramatic music) – Let’s do another one.
This is fun. This is good. Yes. – Hi Dan, hi everybody, my name is Lea – Ali? – Lea – Lea. Yeah, we’ve spoken before. – Hi Lea. (audience murmurs in agreement) – And my partner for this
exercise is Danny and we both, I work in a, for a mortgage broker, I work for an incredible mortgage broker and Danny is a business and life coach, and we are both professionals
in a hugely saturated market. You can’t go to any networking
event and find 3 or 4 mortgage brokers, 3 or
4 business/life coaches. I don’t know Danny well, but my business- my mortgage broker partner’s phenomenal, he’s been lending for over
10 years, he could get a cat approved for a
mortgage, I’m kidding. (audience chuckles) He’s just phenomenal, his
contacts, his resources, his abilities, people find
him on LinkedIn, they seek him on LinkedIn, people I met at
networking events bounce me and they connect with him
months later on LinkedIn. I was like “I know that person,
I met them” and he’s like “well they came after me.” How do we market ourselves,
brand ourselves in- – [Dan] Very good question. – A very very saturated market
of similar professionals. – So, life coaches, mortgage
broker, real estate agent, or consultant, or you
know, all these things, what’s your name sir? – [Danny] Danny. – Dan. Good name. (audience giggles) So, Dan, not to put you down,
but you know what I mean, like when people tell
people “oh I’m a life coach” people say “fuck oh you’re
one of those” right? It’s like there’s so many,
so many coaches out there. The problem with those types
of professions is that, from most people’s point of
view, that they can’t tell the difference; maybe you do
care about your clients more, maybe you are smarter, maybe
you have more experience, but from the consumer’s point of view, they can’t tell the difference, they can’t tell the difference. So to differentiate yourself, its– let me share a couple
of principles with you, and that applies for everybody. Number one is you wanna call
yourself anything but that, because the minute you
say, I’m a life coach, oh people have a preconceived
idea what that is. So to differentiate yourself,
I would do a couple of things. Number one, knowing that, in any industry, this is a framework that I teach, I’m trying to see if I can
remember, so bear with me okay? Bear with me, I may not
get it 100 percent right. So you have what I call a generalist. A generalist is someone, a
doctor alright, a lawyer, a mortgage broker, a coach,
that’s a generalist, okay? And then you have what
I call a specialist. A specialist may be like Andre, a lawyer specifically for trademark right? Or a merger and acquisition lawyer, or a doctor, you have surgeons, cosmetic surgeons maybe. Now let me ask you a
question. in our society, who makes more money:
generalist or specialist? – [Audience] Specialist – Specialist, okay? So then,
so from there, you have generalist, specialist, so
the first step you gotta do is how can you niche what you do. So, instead of– Dan, what kind
of coach– who do you coach? – [Dan] I coach between
45s and 60 year olds. – 45 to 60 year old? What type of people? Like what problems do you solve for them? – [Dan] People who are stuck or who– I overcome people’s fears. – Yeah. People’s fears? You
see how fucking broad that is? That is like broad. 45 to 60 years old. How can you specialize it some more? How can you narrow it down
and say, you know what, this is who I serve, who
is your ideal client? You might think, “wow but Dan, then am I turning business away?” Yes, you are. But then in the, from the
marketplace point of view, when you say I do this,
people can’t– people like to pitch and hole you, they
wanna know that you are expert at something. When you say
you do such a broad thing, it’s like, it’s like, imagine
you go to your dentist and your dentist checking your teeth and you can’t talk right? Checking
your teeth and you’re like you know what, your teeth
is pretty good, you wanna– let me check your foot as
well, while I’m at this right? And by the way, why don’t I
give you a little bit of massage and also I can kinda crack
your back and you know, I can do a little bit of
chiropractor work on you. You’re like, what the fuck is this? Right? Cos you’re trying to
be everything to everybody. So you wanna be a specialist,
that’s the first step okay? And then you wanna, what
I call, become the expert. This is kind of the ladder of wealth, so experts in any
industry makes more money than a specialist and more
money than a generalist. An expert, people, is the go-to person. It’s just like the partner you work with. He’s an expert, like he says- – [Lea] He totally is. – Yeah, people talk about him, on LinkedIn people seek him out, and does he have to chase business? – [Lea] Never. – No. So, as an expert,
business comes to you, okay? So, as an expert, that’s good, and then the highest ladder
of wealth is what I call celebrity authority. That’s the one that makes
the most amount of money. – [Audience Member] Is
that where you’re going? – I think, yeah. I think
I’m somewhere between here. Yeah, give it three or four
years, I’ll be here, yeah. So, celebrity authority,
so give me some examples of someone who’s a celebrity authority that you can think of. – [Audience Member] Tony Robbins. – Tony Robbins, yes. – [Audience Member] Dan Kennedy. – Dan Kennedy, yes. Tony
Robbins for sure, yes. – [Audience Member] Oprah Winfrey. – Oprah Winfrey, yes. Gordon
Ramsay? Absolutely right? (muttering) Any other names? So you
know, in any category, there’s usually only one or two of them and they’re the ones who
make a majority of the money. You have, how many Tony
Robbins wannabe copycat– you think about motivational speakers, you know how much Tony makes?
Do you know by the way? Take a guess. Do you know? – [Audience Member] A million an hour? – Huh? No, a million a year. He charges one-on-one for
coaching, a million a year. No that’s not– but how
much he makes, do you know? – [Audience Member] Millions? – Guess. Guess, just have fun. I know the numbers, do you
know? (audience mutters) Okay, so let me compare
other motivational speakers– by the way, Tony comes from, do you know where Tony comes
from? The NLP industry. Neural Linguistic Programming. All the NLP guys hate him, they hate him, cos he thinks he’s not very– he doesn’t follow the
traditional NLP path, he kinda comes up with his
own thing, so these guys, speaking of which, I had,
actually, back ten or 11 years ago in Toastmasters, there’s an
NLP guy by the name David, wannabe NLP guy and he hates Tony, he’s like “aw Tony is a
disgrace to NLP community, he’s blah blah blah, blah blah blah. I said “he’s fucking Tony
Robbins.” (audience laughs) Whatever you complain doesn’t matter, anyway, so Tony, Tony, from his seminar, how do I know these things? Because I’m a friend with
his son, Jared Robbins. So Tony, his empire, from
Unleash The Power Within, Date With Destiny, the
seminar, coaching, all that, it’s 100 million a year. But that’s only part of what he does. Tony own 20 something
plus companies. Total, his group of companies do about
six billion dollars a year. The seminar business is
actually just a tiny percentage of actual money that he makes, but that’s what he does right? He’s a celebrity authority.
Gordon Ramsey, same thing. So, then the question is “well
Dan, how do you get to that?” (chuckles) Yes? – [Lea] Well, what we’re
doing with mine is, we take on the hard mortgages, we take on construction mortgages and– – Nice, so that’s being
more a specialist right? Construction mortgage and
what type of mortgages? – [Lea] And commercial mortgages. – Commercial mortgages – [Lea] Lot of brokers
can’t, not able to, whatever, – So other people who can’t
approve the mortgages, you’re like, you know what,
other people can’t do it, we can do it, the tough ones. Awesome. So that’s being a
specialist, that’s awesome. So from here, for you, for yourself, how can you go from here then to here, so my question to you is how
do you go from here to here? – [Audience Member] A book? – Write a book. Yes, that
helps. A book would be good. What else? Hmm? – [Audience Member] Add value. – Adding value– how? Yes, speaking for free,
speaking, that’s good, yes. – [Audience Member] Workshops? – Workshops. Yes, that’s good. Yes. A blog. Yeah. Publish content online, articles. YouTube, yes. Videos, yes. Videos. Interviews. Interview other experts. That’s actually very powerful. Many years ago, when I was
getting started as a copywriter and I was trying to
get clients, and I was, I still remember, open up the yellowpage and I would call the business owners. “Hey, do you need an ad?
I can write you an ad. I charge 300 bucks, I charge 100 dollar.” A lot of rejection, a lot
of hangups, so I’m like, okay this is no good. So then I talked to
these expert copywriters. You guys know what
copywriting is? Do you know? Okay, copywriting meaning
is it’s the people who write your ads, marketing
people, advertising people, so they write the headline,
they write the four-page ad, yellowpage ad or your website,
yeah that’s a copywriter. So, and I would talk to
other copywriters who have been in business for many many years and I would say “what can I
do? I wanna do what you do, I wanna be more successful.” “Oh Dan, you gotta– you’re too young.” How many have heard that
before? You’re too young, right? And you know how it is: you’re
too young, you’re too young, you’re too young and one day, you are– – [Audience] Too old. – Like somehow, just you’re too
young, you’re too young like you’re too old, its no
middle ground, like when is, what the hell is, when is the perfect age? Is it 35? Is it 36 and 10
months? Nobody can answer that. Anyway, so you gotta hone
your craft, you gotta build up your portfolio and
you gotta work with people, and you know, in about 10
years, cos at the time, the top copywriters in the
world, they charged about $10,000 to create a marketing campaign, $10,000. I was charging $200. I’m like, okay, so $10,000,
$200, how do I do what you do? 10 years. I said, I don’t have 10 years. I gotta take care of my
mum, I gotta pay the bills, so what could I do? There is no shortcut. I said, there has to be a shortcut. No, there’s no shortcut. Okay (sighs). I said, what are the– who are
the experts in the industry, who are charging this kind of
money, so here’s what I did. It’s called branding by
association, branding by what? – [Audience] Association. – So, at the time, I
put together a product, information product, cassette
tapes, cassette tapes, okay? I came up with a product–
you can still search it online called ‘Million Dollar Copywritings’ ‘Million Dollar Marketing
Secrets Of the Greatest Copywriters.’ That was a long title. No, it wasn’t selling, but
I put together that product and I picked the top 15,
18 copywriters in the world and I interviewed them, cassette tape. I was doing it from my home, like that, with a cassette tape recorder,
there was no Skype back then. It was just like that and I
would record the conversations, and because, I have the
cassette tapes right? So I had to record it this way, cos I didn’t want it to
be too loud, my voice. So we’re doing like that
for an hour, it was stupid. Anyway I put together this
product, didn’t sell any. But what happens is all these
guys are charging $10,000 to write a campaign,
the best in the world. I find a friend to interview
me and I put myself in there, as a package, and I used this package and I give it to potential
clients and say “you know what, I am featured in there.”
It’s my product but I’m featured in here, and I say, you know, I write copy for people, but
these guys charge $10,000, I only charge $2,000. “Oh, I’m not gonna pay
$10,000. $2,000, you’re good.” So that’s what I did, I used
it as a lead generation, as a trust-building thing,
so I didn’t sell any of it, but I’d just give it away and
sometimes I give that cassette to some people, they
said “no no no I get it, I see your name, I’ll hire
you, what do you need?” That’s how I got my foot in the door. Let me tell you one more thing. How many of you have heard
of Jay Conrad Levinson? Do you know Jay Conrad Levinson? So Jay Conrad Levinson, he wrote, maybe you’ve heard of the book,
called ‘Guerrilla Marketing’ Guerrilla Marketing, so
Jay Conrad Levinson is the all-time best-selling
author for business books. Jay’s sold about 30
million books worldwide, for small business, so
“Guerrilla Marketing” series, you can search online,
so at a time, I know, going back to the strategy
I shared with you, who could I get that if I
get that person as a client would give me everybody else? So I approach Jay Conrad
Levinson and I said: “Jay, I saw your ad, can I rewrite
your ad for you? No charge. If it’s good, great. If not.. If it’s good, just give
me a little testimony, I would appreciate it.” And Jay said “oh you’re a
young guy, that’s awesome, I’ll do it for you” and we
did, so I rewrote his ad and actually tripled his
conversion, so tripled his sales. He was very happy, gave
me a little testimonial, more than that, he said “you
know, Dan, you do good work, you know, you’re a smart guy, why don’t I endorse you to my list?” Now, when that happens, what do you say? Hell yeah! Right? Thank you. And he did. From there, the demand
shot through the roof, so from $2,000, within two
years, maybe even year and a half $200, $2,000, so from here, from here, getting the endorsement from Jay $5,000, $7,000 a campaign,
very short period of time. People talk about this, do
not– we are conditioned to what I call climbing the
ladder of success, from school. Grade 5, grade 6, grade
7, grade 8, grade 9, and then what do you do?
Grade 10, 11, 12, right? And after that what do
you do? What do you do? (audience mumbles) No, but then
you go to university right? And then you go to
university, how many years? Yeah, 4 years and after
you graduate university, what do you do? You get a
job and you work your way– – [Audience] Up – And then, until you– – [Audience] Retire…die – That’s what it is, we’re conditioned to climb this ladder of success. Instead what I do, I say: don’t
look for the ladder to climb Take the elevator instead
(audience giggles) and that’s how I think. It takes 10 years? Fuck that. How could I get there faster? Well, I do some out-of-the-box stuff. Associate myself with
experts, successful people, get endorsement from
celebrities in their niche, and I could increase my prices and move up through this ladder. This is not fair but it’s a fact. The top– this triangle, celebrity authority, expert, they make more money, this three, four percent
makes 97% of the money. Just that way. Most
people, they try to fight, they try to lower the
price, trying to be cheap, trying to low-ball, trying to do what everybody else is doing
and these guys are like “ah whatever, let you do what you do” They do something totally
different, does that make sense? Yeah. How about take
two minutes, how long? – [Audience] Two minutes. – Discuss. Find your
partner, what I’ve just said, what I’ve shared with you so
far, yeah? Two minutes, go. – [Voiceover] 10 times your finances, 10 times your business, 10 times your marketing, 10 times your life. Hit the subscribe button now.

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