Have you ever heard of lack of money is a little bit of a problem? You know what? Lack of money is never, ever, ever a problem. What I mean by that, lack of money is simply a symptom of the problem,

but it is not the cause of the problem.

What the problem really is, is a lack of skill. Have you ever heard stories of lottery winners who suddenly a win for money coming into their lives, millions of millions of dollars, only found themselves a few years later broke, bankrupt. Actually, sometimes, worse off when they were financially.

Now, why is that? They have money but they don’t have the skills of the rich. I am rich. Not because of my money, cause I started with no money. I was in debt. I was hundreds of thousands of dollars in debt. I am rich because of my skills. So, today I am going to teach you the seven skills that I have mastered. There are seven skills that I believe you need to understand and master if you want to be rich. Now, as I go through each skill, I want you to ask yourself the question, and comment below, and rate yourself from a zero to 10. Zero being absolutely horrible, like you suck, and 10 being world class. So, here we go.

Skill number one:

the ability to talk to customers persuasively. I call that closing skill. Do you know how to close? Can you articulate the value of what you do to your potential clients? Do you know how to ask powerful questions that compel people to buy? Are you comfortable talking to strangers, presenting your ideas, demonstrating your product or service? Closing skill, I believe, is one of the most important, if not the most important skills you need to master, if you want to be rich. When you are talking to customers, you’re closing. When you’re talking to vendors, try to persuade them to give you better terms, Guess what? You are closing. When you’re talking to your employees, you are closing.So, that’s skill number one.

The number two:

skill that would make you rich, and that is the ability to speak to groups. I call that public speaking skill. You see, do you know the number one fear that most people have in life? It’s not snake and it’s not even death. The number one fear that most people have is public speaking.

Now, why do so many people, why are they afraid of speaking to groups? Most of the time, because they worry about if they gonna sound stupid, or how do they look, or they are afraid because they might say something wrong. All these things, but you look at great leaders, almost all great leaders, they’re all great public speakers, such as Steve Jobs, right? Such as Tony Robbins, Warren Buffett.

One of the skills that changed my life is public speaking. When I joined Toastmasters years ago, because I wanted to improve my English, and also reduce my accent, and I was improving myself through public speaking. I developed confidence, self-confidence, through public speaking.

So, ask yourself, are you afraid to speak to groups?

Do you know how to present your ideas to groups? Can you communicate with conviction and certainty? Can you interact with your audience?

Maybe you get sweaty palms. Maybe you are like me, in the beginning, your face will turn pale, your knees would be locked. That’s okay.

It is a learn able skill, but in order to be rich, public speaking is one of the most valuable skills that you must master.

The third skill:

that will make you rich, and that is the ability to communicate with words in print, or what I call persuasion in print. I refer that as your copywriting skill. Now, notice that I said copywriting skill. Now, copywriting, I am not talking about being all grammatically correct, although it is good to do that, but I’m not talking about what you learn in school, academic writing, I am talking about communication.

I am talking about, maybe it’s your webpage, your video. I am talking about your email. How do you communicate with the written words? Now, why is this so important? Because, in day-to-day communication, the emails you send, all the social media posts, the agreement, the contract, your lending post, or your blog. A lot of that is written communication and when you know how to communicate effectively through the written words, it gives you a tremendous amount of leverage.

Let me give you a perfect example: Let’s say you created a social media post and you have a decent amount of following, that gives you leverage, because what you see and what you write, that is seen by hundreds of people, thousands of people. In my case, it could be millions of people. In fact, copywriting is the very first skill that I developed as young Dan Lok, and that’s the skill that changed my life. How I went from losing money and not making enough money to earning $10,000 a month, in my early 20’s. So, copywriting.

Now that is not taught in school. School taught us writing, but it did not teach us copywriting, so that’s skill number three, the ability to communcate with words in print.

Skill number four:

and that is the ability to communicate clearly and effectively with your team. I am talking about your leadership skill. In order to be an effective leader, you must be an effective communicator. Do you know what the vision is for your company, and are you communicating that with your team members? Do you communicate clearly, the vision, to your team? Do you know how to create a good culture within your organization? You see, all of that is leadership skill. Business is not a solo sport. Business, not only is it an intellectual sport, but it is also a team sport. It is an organization. You are only as good as your team. It is very, very important to develop that leadership ability to be able to inspire, to motivate and lead your team.

Skill number five:

and that is the ability to manage and organize your time for maximum results. Some people refer that as time management. I refer that as priority management because,

at the end of the day, we all only have

24 hours a day, seven days a week, and 365 days a year. You cannot actually manage time because we all have the same amount of time. However, what you can manage, is your priorities.

What are the important things you’ve got to focus on?

One of the important things that would move the needle, that will help you move closer to your goals. The problem is, school never taught us how do we manage our priorities, right?

You do your homework, your taking exams, your taking care of your family, you’re doing a bunch of different things, but most people will never take the time to slow down and look what we do, and ask ourselves, okay, why am I even doing this at all? What is the pay-off of these activities?

We never ask ourselves those profound questions, and, at the end of the day, priority management really is self-management. How do you manage yourself? And, if every single day, you can manage your time efficiently and effectively, and you focus on just handful of things, that two or three things you know, if you keep doing that consistently, will get you the results that you want.

So, rich people understand that and realize the value of their time, and that’s why they avoid, what I call, minimum wage activities. If someone can get the job done, costing you less than what your time is worth, we delegate it. So, that’s skill number five.

Skill number six:

and that is the ability to read financial statements. I call that financial literacy skill. Now, this skill is not taught in school. In school, how do we measure how well we do? Your school card. Are you getting an ‘A’, a ‘B’, or a “C’? In the real world, in the business world, we look at the financial statements. Your financial statements, they are your score card. It tells us how well you are doing financially.

How well are you managing your money?

Now, you may thinking, “Well, Dan, are you asking me to be an accountant, or take an accounting course, or be a bookkeeper, things like that?” No, but you do need to understand the language of money.

Financial literacy, that’s the language of money, how money works. Your balance sheet, your income statement, your cash flow statement. When you look at the statement, you look at numbers and you’re like, “Oh my God, man, I don’t know what’s going on,” or, “I’m not making enough money this year, in this poll”, or, “I’m having a loss this year in business,” or can you read between the lines? What is it telling me? What is the story?

How am I managing my money, right?

And you need to understand the basics of some of these vocabularies of money: credit score, return on investment, profit and loss, capital gain, capital loss, depreciation. A lot of these words, that is what you have to understand. You cannot improve something you don’t measure. So, financial literacy, and it’s extremely, extremely important skill you must master, if you want to be rich.

Skill number seven:

and that is the most important skill out of them all, and that is the ability to manage your own mind. I call that your mindset skill. Frustration, negativity, fear, envy, depression, limiting belief, procrastination. How do you manage your emotions? How do you manage your mind? You see, you could get all of the other six skills right, and you can master all other six skills, but if you don’t have your mindset right, it is not going to work.

I’ve said it many times, the book that Napoleon Hill wrote, it’s called Think and Grow Rich, part of thinking is managing your mind. What are you feeding in your mind? How many times do you know exactly what you need to do to accomplish your goal, to achieve result, but you cannot get yourself to do it because of procrastination. Maybe, how many times in your life you have opportunities slip through your fingers and you cannot get yourself to step up and take action because of self-limiting belief.

Or, what about, how many times that you know that other people believe in you but you don’t believe in yourself because of self-limiting belief. That’s all mindset skill. So, those are the seven skills that will make you rich. If you want to know how I went from a poverty consciousness, a poverty mindset, to a millionaire mindset, click the link below or somewhere on this page. I’m gonna train you on it. Lao Tzu said it best: knowing others is intelligence, but knowing yourself, that’s true wisdom. Mastering others is strength, but mastering yourself, that’s true power.

Best regard

Speech by

Dan Lok