7 Ways You Are Paid In Life – Multiple Streams Of Income

7 Ways You Are Paid In Life – Multiple Streams Of Income


(inspiring music) – Multiple steams of income
is a big fucking myth. If you have not watched my video on multiple streams of income make your you click on the
icon and watch that right now. Now, instead of talking
about multiple streams of income, today I’m gonna teach you multiple ways of getting paid. In fact, I’m gonna teach you seven ways that you are paid in life, 97%, 3%. 97% of population are dead, or
dead broke by the age of 65. Only 3% succeed financially. The 3% and the 97%, the way
that they are paid in life are very different. So let’s talk about the first
way that you are paid in life and that is paid per hour. That’s right, you’re
getting x-amount of dollars for every hour that you work, for every hour that you
contribute your time. Example, you’re working at
a fast food place per hour. You are lifting boxes,
they’re paying you what? Per hour. Usually people that get paid per hour are lower income earners. The second way you get
paid is paid per week, or paid by weekly or paid per month. We call that a what? A salary, right? Every single week, or every two weeks, every month you get a paycheck. That is a salary. So you get paid per month. What’s the problem with
the first two ways? You see, in the school system, and this is what pisses me off. In the school system they
only teach you how to earn and how to make money
with the first two ways. Pay per hour, or pay per
week, or pay per month. They never teach you the
other five ways to make money which I’m gonna teach you today. See, the rich people, they
don’t get paid per hour. They don’t get paid per month. They get paid by these five other ways. So number three. The third way you get
paid, is pay per project. Example, as a consultant. If you are charging your clients, let’s say a two month
term, a three month term or a certain milestone, a certain outcome. But completing the project,
you get paid per project. For x-amount of dollars. So as a self-employed,
as a service professional you can get paid that way. That’s way number three. The fourth way that you get paid in life, it’s pay by recurring. I love the recurring model. All my students and mantes that they know that I’m more about recurring. What can we do to generate
more recurring revenue within the company? So you think about some examples in life. Example could be a subscription model. Netflix, it’s a paid by recurring model. You’re paying a monthly fee
to have access to movies from the comfort of your own home. Your cable, your internet,
it’s a recurring model, right? They charging a monthly fee. A data plan, to use your
cellphone, to watch TV, that is a recurring model. Now why is recurring so powerful? Because the most expensive
sale you’ll ever make is to first sell, acquire the customers. Once you acquire the
customer, every single time they use the service or
they don’t use the service, you will be getting paid. It’s a very powerful concept. Paid my recurring. I have a friend of mine
who runs a gym membership, and he would tell me he
would oversell the capacity. So example, let’s say this gym
could only handle 500 people. He would see the membership
to 1500 people on recurring. Why? Because he knows most people,
they buy the membership, they don’t actually go there everyday. Only a small percentage of
the people go to the gym at any given time, right? And some people, they might sign a one year
contract, two year contract. They go there, you know the
beginning of the year generates. They go there for a few
months, life gets in the way, they get busy, they don’t go anymore. But the gym owner is still getting paid, recurring every single month. So pay by recurring. Fifth way that you’re paid in life and that is pay by royalties. Pay by royalties. Now, what do I mean by that? Pay by royalties example, as an author, I’ve written now 13 books. There are books on Amazon. I have all the books on Audible.com. Every single time someone,
maybe you’re my fan of my work, you go there and you buy a book. I get a little royalty every single month from Audible, from Amazon. That’s pay by royalties. Song writers, they get paid by royalties. Movie makers, sometimes directors, sometimes movie stars, actor, actress. They get a piece of the action, they are also paid by royalties. So, think about what are some of the ways, ’cause when you are
getting paid by royalties, even though I’m making
this video right now, I’m getting paid even when I’m sleeping. I’m getting paid 24/7, just like this. So pay by royalties. Way number six, and that
is pay by transactions. Pay by transaction. I want you to think about Ebay. I want you to think about PayPal. I want you to think about Amazon. Every single time there’s a
transaction that took place they get paid a little bit of money. Visa, Mastercard, every
time you use or swipe that credit card, every time you use it. They’re not actually providing any service except convenience. But every single time you use that card they get paid a little bit
of that transaction fee and that’s how they make
billions of dollars. Last way, way number seven. You get pay by results. Get paid by results. As an entrepreneur we get paid by results. Even though we have an
idea, we spend months and years working on and
until we can produce results in the market place, we
take it to the market place and see that the market place likes it and responds and buys, we
won’t know until we do it. That’s getting paid based on results. Or example, let’s say if I’m
working with an entrepreneur with a company. Example, let’s say they are
doing 10 million dollars a year and I wanna help them grow
to 20 million dollars a year. Well, if you can help them do that, I will negotiate a deal from 10 million if I can take it to 20 million, I generate extra 10 million
dollars in sales for you with what I do, with what I know, I will get a piece of the action. Let’s say I get 5% or the deal. 500K that I make. That’s get paid based on results. You see, rich people, the 3%, they get paid based on the last five ways, not the first two. The 97%, they get paid the first two ways. Why? Because it’s not taught in school. In school they don’t teach you how to generate recurring income. They don’t teach you how to generate income based on royalties. So transaction on results. It is designed to keep you a slave, it’s designed to teach you
how to get that pay per hour or per month. Get paid on results, what does that mean? I don’t produce results
it means I don’t get paid? That’s correct, that’s correct. All these five others ways, royalties, I will not get there royalties if I don’t spend months
working on the book. It’s a delayed gratification. Transaction is the same thing. If I don’t have the skill
to facilitate a transaction. Example, let’s say I’m a closer. I’m closing sales. If I cannot close, I don’t
get paid a transaction. I don’t get paid a commission fee. I need that skill in order to do that. Royalties, transaction. All these different things,
different ways to make money to get paid, you won’t develop,
you won’t be able to do that if you don’t have the skills, and these skills are not taught in school. If you don’t want to get paid like the 97% and you wanna get paid like the top 3%. Click the link below, I’m conducting a special two hour master
class designed to teach you some of these other ways to get paid. How do you get paid based on results, how do you get paid based on transaction. So there’s no ceiling to your income. So you can make as much money as you want. So click on the link below and join me on this special class. Before you go, I wanna
leave you with one thought and that is this. Rich people, we get paid
before we do the work. Poor people, they get paid
after they do the work.

43 Comments

  1. Dan Lok says:

    Have an idea that you want me to make
    a video about? Want to ask me a question
    about business, life, or success?

    Comment below. I will consider making
    a video.

  2. Bobby Gee says:

    How to sell more cars? I work sales and get paid salary. But i have so many ideas to grow the company

  3. Mukiza Joshie Elijah says:

    How can I add value to my self as a student. ..in vacation.

  4. Harriet Kyomugisha says:

    I love your videos alot am into bridal wear business I shop from China but it has been so complicated for me to calculate my profits after my expenses and how best can I grow big my business

  5. Asmita Gumthannavar says:

    Only video title looks attractive and useful! The content is something which we know already! Start teaching something useful..

  6. john superhist says:

    With out school we can't get the money to invest

  7. Simon A says:

    Dan "The Truth" Lok

  8. Great 1 says:

    There's people out there who are rich AND get paid AFTER they do a job. DO WHAT WORKS FOR YOU!💯👍🏻

  9. Moha Simo says:

    how to raise sells in convenience store

  10. Evian Mason says:

    So true The system itself wants us 2 be a slave

  11. D E says:

    I think people are misinterpreting Dan Lok. So many of the comments say: forget college. No! That’s not the point of this video! And statistically, education benefits you in so many ways than financially. For example, statistics reveal that the further along in your education you go, the earlier you are to detect cancer (i.e.. college grads catch cancer earlier as opposed to high school drop outs are likely to wait until a later stage when it may be too late). There are other statistics, such as you are less likely to be involved in a case of violence and murder if you have more education. For example, a couple who dropped out of high school are more likely to engage in domestic violence than those with greater degrees. If you’re Bill Gates or Steve Jobs, you can be part of the 3% and additionally be a college drop out. Mind you, both Jobs and Gates went to college! They just dropped out of Harvard and Reed. The point is probably, get your degree and don’t just stay satisfied with a salary but pursue entrepreneurship. Now with that said, most start-ups in SV fail! Have goals; dream big; and go for it. Don’t be complacent, but don’t throw the baby out with the bath water!

  12. Gracia Kinyanjui says:

    kenya such doesnt apply… here most pay per month, or week , per week nope

  13. jeff ong says:

    Wow, the last one is so powerful, rich people get paid before work.

  14. African Unemployed Millionaire TV says:

    Always powerful. Watching from South Africa 🇿🇦🇿🇦🇿🇦

  15. happy anoosh says:

    Perfect time
    Thanks

  16. Shawn Moses says:

    I started with 3 vending machines. I now have 6 and another on the way. I purchased them with debt and making payments. Can you do a video on that?

  17. TD Tran says:

    Love from Vietnam <3

  18. TD Tran says:

    Love from Vietnam <3

  19. 4homemail says:

    Well, I may be wrong here but 97% of the people after knowing this still settled getting paid by the hour. They don’t know or don’t have the skills to get started.

  20. joku random says:

    In Finland they teach how actors and scripters get their money

  21. wellwhatdoyakno says:

    wow! Love that last line. Totally makes sense.

    Great insight as always Dak.

    The Second last part sounded like Rob Kyosaki's son 🙂 THEY WANT YOU TO STAY POOOOOOOR!!

  22. 4homemail says:

    1. First find a mentor.
    2. Learn how to make money through Dan or any body better than you.
    3. If, not when, you made it big than be like Dan and help other and get pay 💰 the same time.

    Otherwise, stop talking shit. And start taking notes.

  23. STEVEN TV WORLD says:

    I have a business idea
    I need supporters.

  24. Stevie Solutions says:

    I love the sales pitch which you just mentioned at 02:40. I cut the cable cord years ago, however I love that pitch that you just said. How about people that want the $15 per hour, how about people who do union jobs and they claim they're treated right? I would love to see an answer and then I don't have to hear it.

  25. Rommel Barbin says:

    If you came from poor family, the most difficult is how to start on 5 ways

  26. Newhyeser Online says:

    I loved this ideas and I never knew I have been at 3rd numbers and 5. Thanks for your video Mr.Dan.

  27. Premium fuel only says:

    Its all about time vs money. If you have alot of money, you can make money in your sleep. Otherwise, you have to trade your time for money.

  28. Kurt Bond says:

    Are you sure this will work for me?

  29. LanGuage WorKshops -by nadia! says:

    if school teaches this stuff, you'll become their boss one day lol.

  30. Alice says:

    спасибо

  31. Sir Chogyal says:

    thanks for the imprissive video.

  32. tunitunes5 says:

    Great!

  33. Aladin hegic says:

    Idk I just can't take this guy seriously, even when you're dressed he looks like a kid that got luckey

  34. BEYOND BOOKS WITH SHAHID says:

    Dan you inspired me to start my channel

  35. oslo 2000 says:

    Here in norway we have a ting cald akkord and are It Just like No. 7 were you are paid by reasolt.
    (i don't know if It are ust outside Construction)

  36. Ester Kahingunga says:

    Thank you Sifu !!

  37. Subhash Nisarta says:

    👋 thanks for your help me how to 🎉 pay the money to be an entrepreneurs.

  38. Subhash Nisarta says:

    👋 I 👍 like pay for the results.

  39. TAMENG NORAM says:

    Sir, can you help me to be like you? RICH

  40. anh diep says:

    5 last final way re the era of electronic but in brief :v

  41. Diamonds58 says:

    I think I`m going the right way, royalties on books.  Hopefully the public like them.

  42. Armands Bracs says:

    Thanks, Dan for this video! Awesome motivation and eye-opening video to strat earn more!

  43. Jerome Conducta says:

    Watching Dan's videos while trading 💹💹💹

  44. Mind Power says:

    coach dan, thank you for sharing your wonderful ideas,, more power and God bless you always…
    watching here in the Philippines…

Leave a Reply

Your email address will not be published. Required fields are marked *