Dan Lok’s Secret Strategies: How to Get Money to Start Your Business

Don’t know how or where to get money to start your business? 

Dan Lok, a.k.a. The King of High-Ticket Sales™ is one of the most well-known public speakers for entrepreneurship. Among the things he’s famous for are his strategies for getting money to start a business. 

Dan Lok can give entrepreneurs advice on this front thanks to his own experiences. Dan Lok is an 8-figure entrepreneur himself, and a multimillionaire who built his brand from the ground up

If you type “Dan Lok” in Google, you’ll find a lot of articles about him. That’s why Dan Lok review articles on the web are easy to find. 

Not all of these Dan Lok review articles can be trusted, however.

Some will be honest while some will be unreliable. Others ask questions like “Is Dan Lok legit?” and whether or not his courses can be trusted. There are even some alleging that Dan Lok is a scam. 

In spite of those, many successful entrepreneurs today attest that Dan Lok is legit. It’s simply that he knew the secrets to getting money to starting a business. That’s why his rise to success seems too good to be true for some people.

If you want to know those same secrets, you’re in luck. I’ll unveil them here so that you can use the same strategies Dan Lok used to finance his most successful business investments.

In other words, I’ll show you strategies on how to get money so you can start your business. 

Strategies on How to Get Money to Start Your Business

The following strategies I’m going to share with you are Dan Lok’s secret strategies for success. This is how entrepreneurs can get money to support their businesses. 

The first thing you need to know, though, is that your problem isn’t the lack of money.

Rather, it’s the lack of ability to attract money.

Believe it or not, there’s a lot of money out there. Dan Lok will be one of the first to tell you that. If you’ve participated in any of his courses for entrepreneurs, you’ll see that Dan Lok believes all entrepreneurs can succeed with the right mentorship.

There are also plenty of rich investors who want to invest their money with a good entrepreneur. However, you need to take the initiative to attract these investors. 

So how can you do it? By using the techniques I’ve listed here. 

Below are the important strategies you should know to fund your business, especially if you’re doing it from the ground-up like Dan Lok

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Approach a Shark

Have you watched Shark Tank? If you have, you’ll know what sharks are

Sharks are capitalists, professional investors, and very wealthy and successful entrepreneurs. Usually, these sharks also started out just like you. 

They started out from scratch and now they’re making a lot of money. That’s why they have an eye out for entrepreneurial ventures they think can succeed.

Typically, sharks invest in experienced entrepreneurs who already have achievements. They don’t want to invest in someone with zero business or zero sales.

But when you’re dealing with sharks, be prepared to give up big portions of your company. Remember, they’re risking their money to fund your new business. They’ll want something in exchange, naturally.  

One of the reasons they’re called sharks is that they’ll take a big bite out of your company. This big chunk that you’re going to give to a shark could still benefit you, though. 

It’s because it makes the shark genuinely invested in your success. Now, they have even more reason to keep supporting you as well as offer you all the business experience and resources they can. 

Approach a Dolphin

Financial institutions are called dolphins. 

Dolphins are the banks, credit unions, or other financial institutions where you can obtain loans. They may seem nice and friendly. That said, they’re still carnivorous. 

It’s usually harder to make a dolphin bite with a business offer. Most financial institutions are more conservative about financing ventures than sharks are. 

They want better assurance of a return on their investment. That means they’re far less prone to taking the risks sharks take. 

However, they do still take the bait on occasion.

Dolphins make money from the interest of money they loan you. That makes them a viable alternative for funding if you don’t want to give up equity to a shark. 

However, you will have to pay them back on time and with the agreed interest. If you don’t, you’ll find out how dangerous dolphins can be. Here’s a hint: dolphin packs actually kill sharks in the oceans!

Approach a Fish

Your family and friends are called fish. These are the kind of people who are kind enough to loan you money to get your business off the ground

It’s easier to convince fish to invest in you than dolphins and sharks. 

With sharks and dolphins, you typically have to go through several stages when seeking funding approval. You’ll also have to produce a lot of documents as guarantees of your capability to repay. 

That may include documents certifying ownership of collateral, your credit report, your enterprise’s financial statements, etc.

Contrast that to most fish. With them, your personal ties to them are usually all the guarantee they need. 

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Get the Money from Your Customers

One of the best ways to get money to grow your business is to get money from your customers. Work on sales, and start making money from your customers. This is the classic way to acquire funds for your business.

For this strategy to work, you need to learn how to sell. Dan Lok, the king of high-ticket closers, can certainly attest to that. He built the Dan Lok brand on a foundation of solid salesmanship.

So how can you sell your wares to your customers in order to raise capital? There are several options available.

You can get money from your customers by having them pay in advance for your service, for instance. You can even have them pay for a membership or subscriptions. 

You can also try using Kickstarter and GoFundMe to see if people are interested in funding what you want to offer to them

Prove Your Business Model

This option involves putting two or more of the other options together.

It typically starts with you getting money from the customers. The idea is for you to gather proof you can sell while also gathering capital. In other words, your sales count as proof of concept for your business plan. 

This is how you can prove your business model. It means you show that your business plans work and you can execute them successfully. 

After that, you can approach other sources of investment. For instance, you can go to sharks and dolphins to show them your figures and sales success.

This is essentially showing to sharks and dolphins that you have what it takes and you’ve gotten to a certain point on your own. Show them that you want to grow further, and that’s why you need a loan or more funding. 

Remember, sharks want to see that you’ve already earning revenue. Dolphins are the same. 

They want to see that you’ve made sales on your own before they invest their money in you. They want proof that you’re earning a stable monthly income. 

Otherwise, why should they invest and risk money on a bad proposition? 

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Final Thoughts on Dan Lok’s Secret Strategies: How to Get Money to Start Your Business

That sums up today’s blog post on how to get money to establish your own business. 

It’s all up to you whether you choose sharks, dolphins, or fish. But always remember, you need to have a viable business model and you should learn how to sell. 

Dan Lok himself used both things to work his way to where he is now. Take your cues from Dan Lok and his success. 

Don’t be afraid either to start testing your business model by selling to customers as soon as possible. It’s a great way to prove your enterprise can work, and can help you get more funds from investors later. 

If you found this blog informative or you have questions, leave them in the comments section below.

 

MD: Need to get funding for your business so you can build it like Dan Lok did his? I’ll show the strategies Dan Lok and others like him use to get funding.

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Article: Dan Lok’s Secret Strategies: How to Get Money to Start Your Business

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