Why Business Is A Game of Margins, Not Volume - How To Sell High-Ticket Products & Services Ep. 1

[@wendycoffman3659]

Years ago one of my dad's friends who owned a small Chinese takeout restaurant, he upped his price and detered bad customers off. His revenue stayed about the same, but his profit margin was up and there was less work. Some people thought he was crazy for wanted to get rid of some of his customers.

[@nadiaprotsy]

I worked at M&S for a year... The angry rude customers were the ones who were buying sale items in bulk at £2 each (most items were £15 in the store)

[@TassieHub]

I have upped my prices and get better clients/ customers. The cheaper you are, you attract cheap people! Thanks Dan !

[@jajasmile5321]

Selling high end , when customer Walks in the doors they have the money , only questions they ask is what colors do you have ....

[@Geo16Bee4lyf]

I've understood that SIZE MATTERS and most competitors are not comfortable selling high ticket products. Competing on price in not a sustainable advantage in business. Got it Sifu.

[@tomsej5400]

Great way to explain manageable scalability. Less customers, higher margins = less work = smarter work

[@StevieChow]

It's so simple and obvious, yet so easy to not realize and be aware of this principle... great insight Dan! I'm a student of yours in your 7-week course and am absolutely eye opened by the radical shifts I've been discovering through immersing myself in your work. Excited to continue to grow!

[@DanLok]

Good.

[@jorge6386]

Thanks Dan for sharing... Same I am doing in business... but many people told me that I am wrong but after watching this video you proved me Right and appreciate it... now i will increase price again... Thanks a lot again Dan...

[@yardmasterswealtheducation8424]

Keeping your business, "lean and mean and simple." I love this! I call it Simplicity Theory. Great Stuff!

[@dayswithbrandon515]

The power of a High Ticket Model, little hassle, big margins, and time freedom.

[@MegaTuang]

That meets what I've been looking for in life.

[@baimuratnusubaliev9514]

Somebody paid for this seminar and here we are watching it for free, Thank you sifu

[@kenny1394]

Dan, Please make a video about the strategys of doing retail business! Thank you

[@PGSL-r5n]

you get that by selling

[@PGSL-r5n]

Higher price items require a new set of selling skills, product knowledge and knowing how long it takes to finish per task helps. You need to become what is know as a flesh eating tiger, pounce on a client hard and roll them into a purchase.

[@Floweey_app]

You are so spot on Dan. This info is for everyone, including myself. Thanks Dan.

[@emmanuelohale7770]

Dan, the law of margins rules! It is the smarter way- I totally agree with everything you said here. Thanks Dan.

[@chris.solis2.046]

Thank-you Sifu Dan for this wonderful video. I am re-watching my Daily 10 Videos by playlists so I can better understand each subject and I can take better notes. Thank-you Sifu Dan. Yes! Daily Video#6 Completed 5/11/18. Thank-you Sifu Dan.

[@dyanderson7]

Lean, Mean, and Simple, great mantra to do business with (HTC group 3), Thank you

[@Vixielicious]

That voice over at the end "10x your life" etc. It was so cheesy! hahaha. I'm loving your channel though. One day when I'm rich and successful, I'll thank you in person. Count on it.

[@steph2881]

You might not aware of `

[@alphateen551]

Sir Dan. Please make an advice video for teens. It's a really huge help for us. We need more knowledge from you and other successful people so we know what we should do to be successful too and also to make the next generation great. Thank you so much sir Dan Lok. Godbless you more.

[@nicholasmirante1020]

Dan, Even Woolworth requires honorable mention since it was the epitome of the epic five and dime store, where everything costed 5 cents or 10 cents. This is where the Dollar Store chain took it's business model. Sam Walton also revamped the Woolworth model as well. Great video BTW!! Thank you!

[@judeigboanugo7722]

I wish I knew this before I started my company. Feels like I am slaving away for nothing. Thanks for the knowledge!

[@jarinjackson5936]

Margins and cash are king when it comes to business

[@JuanCastillo-pv4uy]

Season 8 , rewatching videos. Getting more value the second time around. 💯💥

[@rickmoonchild]

I get it now Sifu. I've raised my prices for my Coaching business.

[@donmooney21]

Your also at risk of losing a bigger percentage of your earnings if you lose or upset a single customer. Of course hes right. Just wanted to add the point. Lol. But of course thats why hes a millionaire business owner and im worth 7 dollars. Lol. He takes risks and runs businesses. I watch him talk about making millions and running businesses.... lol. Good video/talk man. I also enjoy Marcus on the profit.

[@theprophecypatriot1191]

Henry Ford proved that 3 quick nickels beats one slow dime. It still works. Plus you gain market share.

[@heather-vs9qe]

Plus l am in the middle of FU money....enlightening....o what a lesson....my mentor...

[@emmanuelohale7770]

Sustainability vs Price

[@fruityeva]

Thank you! I can learn so much from you!☺️✌🏼

[@tohardcoreforlife]

I got so much value out of this video... thank you so much!! will you ever come to chicago?

[@Datenitefan]

I'd love to see him in Chicago one day

[@pablozane7767]

Ten X Attraction 😂😂

[@sallykimaru953]

The game of numbers.Thanks Dan

[@DanLok]

Welcome Sally.

[@DrRussell]

Thank-you for this video and for bringing Dan Peña in to our lives. I can see Dan Peña in you and I am bringing the Dan Peña out in myself too. Thank-you

[@AmaniAnthony]

I am from Tanzania Africa I want to thank you for the knowledge

[@heather-vs9qe]

Yes l see Pena in Dan as well.

[@AgainstTheBladeOfHonour]

Lean, mean and simple.

[@cristianspinelli4753]

Awsome video! Dan you´re more likely to charge Value Aggregate Taxes - VAT - than Euro government... so much value added here!

[@Gamewith_Albertho]

Excellent Video, Mr. Lok! Helped me a lot!

[@tarrentyree1652]

Completing on price, is not sustainable advantage in business, More profits, less hassle, Business is a game of margins, not volume and size matters.

[@emmanuelohale7770]

The application vs the margin- something to think about. Thanks Dan.

[@aclaroda3460]

Thank you Dan

[@robp.7732]

You can make money either way... if you have the right ideas along with the right mentality you can be profitable... look at mcdonalds Walmart taco bell

[@HENSLEYDMB]

Did you know, the cost of a whopper is .83cents. The cost of a big mac is .74 cents. The cost of a hard shell taco is .16 cents. So, fast food restaurants do have good margins. What they fail at is labor. Ever been in a McDonald's and seen 10 people just standing around?

[@a.m.aravind]

Powerful lesson... thanks a lot Sifu

[@luicastaneda1300]

LOL "10x your life" killed it

[@sheldonwright9826]

Dan I know that this doesn't apply to the video. But when persons introduce your profession. What do they call you?

[@irfankhatri6637]

People here in comments talk about hight ticket sales which is good but no one is talking about high ticket(product it self). First of all you can't just define high ticket sale with number e.g. $10000 lamborghini is cheap and not high ticket sale but $1000 bread is. Yes when the price of the product is high you get more profit but costumer also demands value. Most of the customers are not so fool who would pay insane amount for product which worths for penny. So don't fear to raise the profit margin but also make sure your product is delivering it's value for it's price. You don't need too much money for making high ticket products. There is a guy who makes chair from decent quality wood but spends weeks designing and refining his chairs. So it's the time and his experience what makes his product high ticket.

[@salehghafoormohseny8513]

Thank u Dan for this useful video, Is this depends on where I'm living ?

[@kirkdouglas5683]

Great info who is watching in July 2018?

[@ligerllama]

Conclusion: SIZE MATTERS! lol

[@DanLok]

haha yes it does

[@malikalonazi2411]

Colin Maximus Here’s the problem with size matter You can’t start big It’s too risky You could end up sweet hart 😂

[@josephmenezes3012]

I believe you ...

[@chrism6904]

Well im screwed...

[@robp.7732]

It is also better to have a bigger customer base because you can sell more products and services to the same customers. Thats why marketing people make money. They have a big list ofcustomers

[@izhamrazizul9458]

yes, we can do that but may need twice the effort and infrastructure to satisfy the demand to get the same profit.

[@robp.7732]

Izham Razizul that might be right but... who can gain muscles without without working out??? There’s tons of ways to make money... yes you can sell higher ticket once you have a good reputation and for that it’s gonna take you a good amount of time. So I would start by working with low ticket higher demand then jump to higher ticket. This video is for people who are making at least 100k or more.

[@heather-vs9qe]

Do you ever come to London ...? I knew you have spent time with Pena in his castle.....in Scotland ...what about us here UK.

[@DanLok]

I like UK. I am certain there will be opportunities I will speak there in the future.

[@edmunlum]

I don't really understand for (Business is a game of margin not a Volume), to archive the margin we need to hit the volume first right? Can someone pls enlighten ?

[@glennrobinson198]

thanks for all knowledge

[@wingchung1975]

Great video, thank you Sifu, George fro m Greece.

[@jermseah]

@danlok Have you hear of Daiso? its like they sell everything for $2 here in Singapore !

[@DimitarBoyn]

@Underwaterforest, when spending time to learn from someone it is more useful to try hard to understand what they are teaching it seems that you cared more to be right and the teacher to be wrong?

[@faheeta5036]

Plus when you sell low, customers will cherry pick your good stuff.

[@makhrr30]

Milionare Mentor

[@zeppelin1qaz]

Dan, how do find $10,000 product's to sell?

[@datdudemickey]

I freakin love my Sifu

[@LucasdeMaria1]

Dan, How can I start coaching without any testimonials ou experience? I really have the mindset and the through thought process, but just can't get through that.

[@christiant.8834]

Hi Dan, quick question : What to sell ? Goods or services?

[@DanLok]

Services, Christian. Develop your high income skill.

[@christiant.8834]

Dan Lok Thank you Dan, for your time

[@dancoman8]

@@DanLok What does it mean to develop your high income skill?

[@aemericenglish2417]

1. not sustainabilitu, kmart (before walmart) 2. need more customer service 3. business is game of margin 4.

[@annanguyen9006]

How about MLM? If we are taught it's about a lot of people doing a little bit?

[@stephennjuguna315]

low sales means using more complex structures for businesses to make profits

[@user-jt2jl7vz3s]

Great video

[@michaelphoenix2501]

In the words of the late GREAT Tupac "It's a dirty game". 😂

[@chrisbradley9682]

More is less and less is more!

[@zeppelin1qaz]

Amazon is an example of a successful low margin business. They have bog economies of scale, and infrastructure built up, to service more customers cheaply.

[@asiimwebalinda3894]

zeppelin1qaz: Amazon is also making massive losses on many of their product lines - just a few are profitable.

[@Kyxfinesse]

They take loses upfront to win on the back end

[@e_entrepreneur415]

Low (competing on) price is non sustainable advantage

[@pablokustoms7139]

I really appreciated

[@dimyata]

Yes but you must find this product for 10k and must find 100 people ho have interest for this expensive product. So you must have more calital for start this... and time for get clients.

[@photovideooz4084]

income = margin x volume

[@heather-vs9qe]

Nuff respect

[@Daniel-dz3ls]

Shalom

[@jarinjackson5936]

Costs less effort to sell with higher margins

[@Usmctbone]

Ok so you have to be less desperate to shed the tirekickers to show your clients and have them respect what you offer to the market. Failure to do so keeps you stuck in a rut and stuggling to single handedly get yourself out of the quicksand. Don't sell more, sell bigger!

[@DanLok]

That's right Malcolm

[@BradPitbull]

GOOD JOB MY NIGGA

[@anthony78yt]

9th video Mazariego

[@varunkamal91]

Some of the richest men to have lived made money on volume... For example : Sam Walton (Walmart), Jeff Bezos (Amazon), What do make of that...

[@issamtir]

522@زهرار

[@MrRyan83]

A bit vague with little to not actionable insight. All good to say increase the price, but if the customer is not willing to pay in that market space, you are shooting yourself in the foot.

[@dishwashermadman]

How come amazon works on volumes and not margins? And now bezos is the richest guy in the world

[@daddyrhino]

not much competition

[@JamilMiah]

3:33

[@muhammadadhi2509]

2. So the size is really matter 🤔

[@iandyoupropertysolutions]

its complicated to understand

[@rhmike4283]

Remind me of house of Bijan

[@dimyata]

0:18 WTF?!? My head blow up. 🤯🤯 don't do it again..

[@mr.asadshah]

I love Dan's sales videos but in this video he's basically doing maths that a 12 year old can do. $100 x 10,000 = 1m or $10,000 x 100 = 1m. Isn't that a little obvious? How many businesses can actually sell a $10,000 product though. I'm running a social media agency. Even though all my results are transparent on my Instagram. People still hesitate to spend £500/month

[@armada70]

You have to find richer clients.

[@martinglenn85]

Lowering price is not a sustainable practice in business

[@namesbrown5186]

False my business is mostly volume 10-30% markup

[@yoruichixx6951]

Why do i see this now

[@markkravitz4678]

🤙 To solve the human equation, we need to add love, subtract hate, multiply good, and divide between truth and error. Keep that @evenkingsfall (His insta name) THINK BIG approach to life! Looking forward to your next video 🖤

[@unicornblast2545]

👍👍👍

[@jruthejunkie]

Lol

[@pperezmartinez151]

Thank you Dan .