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How To Create Demand For Yourself - YouTube
Channel: Dan Lok
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- You got to use your
time, to create the demand.
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The problem is your time is limited.
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The name of the game,
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to increase the income is leverage.
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You accumulate social
capital to create demand.
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Whoever has all the demand,
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has all the power, right?
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In influence, you always
want to be the buyer,
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not the seller, right?
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So we are the buyers.
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We interviewing them on,
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If they have what it
takes, if it's a good fit,
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yeah, it's no closing needed.
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- Got it.
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- Just like I'm buying a company.
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There's no closing needed.
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Well, I shouldn't say
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there's no closing needed,
there's negotiation,
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but on terms.
- But then
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you did talk about it
in the "Smart child",
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I guess, you know,
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which we won't go into tonight,
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but using leveraging
your social credibility,
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gives you more control,
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so that when these people come in
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and you're in control,
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you're the buyer, you can say,
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"Well, you know, I don't need you.
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"You know, you can't negotiate
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"terms with me."
- Okay?
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It's the, this is a very,
very, very key lesson.
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- Yeah.
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- We accumulate social capital,
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not for fame, right?
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Fame without fortunate is frustration.
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There's no talking about that, right?
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You accumulate social
capital to create demand.
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If the end goal is to drive up demand
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because only when you drive,
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it doesn't matter what you do.
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You own your own business,
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You're operating as a closer,
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you're operating as a copywriter.
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The name of the game,
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it's the law economics,
supply and demand, right?
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A lot of demand, very little is supply.
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What happens to price?
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- It goes up.
- It goes up.
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It's that simple.
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So you accumulate social capital
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so that you could drive up the demand.
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The name of the game is drive the demand.
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Now, most people,
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if you don't utilize social media.
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Which is the name of the game,
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then how do drive demand?
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Think of back in the days.
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- Yeah.
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You have to use your manual labor.
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- Yes.
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- You have to use your time.
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You have to go shake their hand.
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- Networking events
- Meet the person.
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I'll do the all of that.
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A lot of new business, right?
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They start?
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- Yeah.
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- Yeah, you got to use your time,
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to create the demand.
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The problem is your time is limited.
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If you spend all the
time creating the demand,
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manually and then plus
doing the fulfillment,
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plus everything else you got to do,
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that's why those business don't grow.
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So, social media is powerful,
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because it's one to, how many?
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- Yeah.
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- It's this exponential amount.
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It's one to many, it gives you leverage.
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It's not about hustle.
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That's why I hate when people say
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"Hustle, hustle, hustle"
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it's not about hustle,
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the name of the game,
to increase your income
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is leverage, right?
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How do you put yourself
in front of more people?
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When you drive the demand,
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You can dictate terms.
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- Yeah.
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- So it goes back to negotiation,
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that's why having walkaway power
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is very, it's just very powerful.
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If I want this
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and there's no other alternative,
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I have no negotiate,
zero negotiations power,
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because I have no alternatives.
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But I have social capital
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and say, "Hey, if this deal works great,
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"but I've got a hundred other deals."
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- Yeah.
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- Even if this deal works great,
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I still have a hundred other deals,
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that I can look at and say, okay,
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which one is better term?
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Which one is better fit?
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Whoever has all the demand
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has all the power, right?
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So you're in command
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because you're in demand.
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But no one talks about creating demand.
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In the SMART challenge,
we talk about this.
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- We do.
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- The instability and visibility
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share the whole framework.
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- Yeah.
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- No one could buy from you,
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if they don't know you.
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- Yeah
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- Right. And there's always this battle
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of fighting, trying to get attention.
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This battle of fighting to be known,
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this battle, fighting
to build credibility.
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Well, a lot that goes away
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when you got a line up of people
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wanting to do business with you.
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Right? So I learned that,
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very early on in my career.
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So everything I do is about that.
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So give you a perfect example.
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- Yeah.
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In the beginning of my career,
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I would go to these networking functions
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and meet with people.
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When you shook hands
and you talk to people.
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Before COVID, of course? Right
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- Yes
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And you meet with people then you say,
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"Hey, this is my business card.
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"What are you doing?
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"Business card, And all, let's do coffee.
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"Let's do all that."
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And after a while, I just found that
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incredibly inefficient, right?
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Now, before social media,
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I just realized,
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whoever's is at the front of the room,
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gets to meet all the people instantly.
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That's why, I went to, one to.
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Before, I wanted to
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improve my English speaking skill,
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as that goes on,
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I found that, just by being a speaker
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in front of the room,
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it makes a huge difference.
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- You get credibility.
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- Stage time, equals wealth time.
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Write this down, right?
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If that's the case, instead of me,
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let's say a hundred people in the room.
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I meet with you, I meet with you,
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I meet 10 people, next 20 people.
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But if I'm in the front and I talk,
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I might not meet a hundred people,
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but a hundred people I've met me.
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- Yeah.
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- And afterwards, they line up
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and wanting to talk
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and that changed my game.
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So I wouldn't go to any
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networking business thing,
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unless I'm the speaker.
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- So then you converted that to online.
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- Yeah, it's the same idea.
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The difference is,
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instead of one to 100, one to 200
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it's one to millions
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- Tens of millions, right?
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- It's exactly what it is.
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