How Long Does It Take To Make Your Business Stable?

How Long Does It Take To Make Your Business Stable?


– How long does it take to
make your business stable? Is it three months, six months, 12 months? (upbeat music) (car revving) That’s actually not a very good question and I’ll tell you why. Because, first of all, how long it takes for you to build a stable,
sustainable business, everybody’s different. For some, it might take decades. For some, it might take years. And that has a lot to do with
your skill as an entrepreneur. How much experience do you have? So, say when someone says to you, “Oh, it’s going to take three months, “it’s going to take six months.” Well, it might take
three-to-six months for them but it might take
three-to-six years for you. That’s a big difference, right? It’s like someone is asking, “Well, how long does it
take to be a good chef?” Well, for some it’s
going to be a long time. For some, it’s not going
to be such a long time. So, that has to do with
how much you know, right? And your skillset. So, another way I also look at this, like, I’ll tell you a good example. In the beginning, in my business career, it would take years, it took me years to get to a place that
I would consider stable. Now, I could launch a business and I could make that profitable sometimes in less than a month. So, what’s the difference? You tell me, comment below. What is the difference? Because, why? Because now I have grown, right? I’ve grown as a person,
as an entrepreneur. That I have certain skills. I have the mindset and
I have walked the path. I know what it takes to
make a business work. I know how to launch
a successful business. I have the steps and I’ve done
it many, many times already. So, because of that. Another way I look at this is, you also need to consider that you never want to get
complacent in business. Just because you’re stable today doesn’t mean you’re stable tomorrow. Just because you’re successful today, doesn’t mean you’re successful tomorrow. See, the name of the
game is not to get rich, it’s to stay rich. Does that make sense? A lot of people, they become successful, they get rich but they don’t stay rich. Very few do. So, yes, celebrate. Give yourself a pat on the back. At the same time, don’t sit on your ass and say, “Hey, you know what? “I’m successful enough.” Then you get complacent. That’s when your enemies,
that’s when your competitions, that’s when they come in and
they take your castle, right? You always want to have a dose of healthy paranoia, I believe, that things are good,
things are doing well, but what if things change? What if what I’m doing right
now doesn’t work anymore? What if suddenly the technology that
I’m utilizing right now doesn’t work anymore? What if the platform
that I’m advertising on suddenly doesn’t work anymore? What if I lost my number one customer? What if I lose my number one
employee, then what happens? So, I think, having that insight, “Hey, expect the best but you
also prepare for the worst.” When you understand, when you recognize, when you know what are some of
the ways that you could lose. What are some of the ways that could take you out of your game and you prevent a lot of those things, that’s how you have a stable business. I think a lot of entrepreneurs, that a lot of good entrepreneurs, they’re not overly optimistic. From my experience, a lot of the good, highly
successful entrepreneurs who have built a company, who have longterm sustainable success, most of them, from my
experience, including myself, that sometimes we spend
a lot of time focusing, thinking about what could go wrong. What could go wrong? What are some of the risks? What are some of things that we don’t see? What are some of the
assumptions that we’re making that may not be true? So we don’t want to be overly confident. We want to have just a little
dose of healthy paranoia. I think, it’s very good. So, does that answer your question? Comment below. If you have any other
questions, comment below. This is what I do, right? Sometimes when I’m going
home, we turn on the camera, and I answer your question. And also make sure to give me a thumbs-up. That’s the only thing I’m asking, right? Hit the subscribe button
and turn on the notification if this is the first time
you’re watching my video. Til next time, I’ll see you in my Bentley.

100 thoughts on “How Long Does It Take To Make Your Business Stable?

  1. If you enjoyed this video, give it a

    thumbs up and subscribe.

    Comment below with any questions you

    have for me about life, business, or

    success.

    I read EVERY single legit comment

    from my fans.

    If you didn’t like the video, close the

    tab. You don’t have to watch my

    videos.

  2. Hello, thanks that you responded yesterday. I went to the real estate agent again today. But this manager was so unfriendly again. I wanted to offer him my work and that a know a lot of people who wants to buy a flat or sell one. But he was like: dont talk so much just give me this person then you will get a provision which was really small. He said when i sell a flat worth one million then i will get 2000 euros. He gives you the feeling that you are nothing and that my YouTube channel idea sucks and i should go and sell flats. What are your thoughts about such person and what would youdo? You would work for him?

  3. Your business is the manifestation of yourself.
    Be open-minded and grow mentally, professionally, get to know more people and keep learning.
    Your fulfilment is what makes your business stable.

  4. I am the branding guru for the Movies (Feature Films) & Millionaires Mindset (personal branding of HNIs) from India. Thanks a ton, Dan for your daily insights.

  5. I love this perspective on having a sustainable business! You have a super realistic view and are always making sure people are prepared in different situations! Thank you for putting this out!

  6. I believe it takes atleast 3-5 years. But there are still people who had success with their business in less than 2 years. I would rather work my ass off for the next 5 years to live a life I want.

  7. This words, advices, tips, knowledge are pushing me to go thru. Thank you for sharing your knowledge to us Sir Dan Lok.

  8. Sifu, the important question I would like to ask is how to make scalable and sustainable business in less than 3 years.

  9. I'm about Morocco..and you are my big example for the self made man ….I. Wish good and good life ..you're great one

  10. I've got nosebleeding on deciding when? I've got crazy on where to get started. Where do I get enough capital to start my business for good. A lot of nosebleeding but I've got inspired by your good deliberation sir. Oh, good heaven How to get started?

  11. I was abused by my stepfather until I was 13, my cousin cooda was murdered my junior year, lost all my D1 scholarships my senior year due to concussions, got on drugs ,bought a bike and ended watching a close friend die in my hands. Then a year later 2 days before my birthday I totalled my bike going 65 mph and only had stitches in my shin. I have ptsd ,severe anxiety, severe depression and to top it up I got back in football.. I went to a juco in Cali , and partied instead of focusing.. I left there and came to a college close to home.. Long story short I was kicked out for drinking in my dorm from stress and mental pain . I felt like giving up for good and taking my life. But I realized we have a choice to overcome this pain. I'm deciding to reinvent myself and finish what I started and motivate people on my way to my dreams. I will be a light to someone who has felt so much pain like me. You can do it, you can be great.. When I wake up at 4 a.m. this is why… I want to climb out of hell and pass all those who had everything handed to them. Stay driven, there's always someone going through worst though. It's a blessing to be alive🙏

  12. I rather work 10-15 years hard and live the rest of my life in freedom and wealth, than living the rest of my life regretting that I didn’t

  13. Thank you Dan Lok for everything, you make my life better, with every post that you do. You are amazing, and I wish you the best. I have recently started my own company, and I look forward to implementing everything you have thought me into it. Maybe I fail, time will tell… But at least I learn, acquire some experience, and like you said, no one can take that away from me.

  14. Hi Dan, am a fan of you from Kenya-Africa, and u know the opportunities here are very rare compered to developed countries, with that am trying my best to find opportunities so that I reach the financial freedom level 1 day. Based on that and am a university students, what is ur suggestion or any kind advice you could give me that will change my life forever and I'll appreciate more. Am a die hard fan of u, KEEP GOING MAN, …I feel like today is my time to get the million dollar advice from my biggest role model. I LOOK FORWARD TO HEAR FROM YOU 👋

  15. Dan I don’t remember when I started watching your videos but ever since I found your channel I’ve not looked back. The videos I didn’t think would apply to me actually helped me immensely. Thank you

    What do you do for fun outside of business ?

  16. I no longer think in terms of successful businesses; only in terms of successful business people.

  17. Hi Dan this is Rishab from India I just started a web development business here in local city. I wanna take advice that how can i grab a market share for my business even without having an office for atleast 6 months cuz i don't want such overheads before the wheel starts spinning easily.

  18. I’m a 16 years old and I’m trying to start at least one or two businesses before high school ends, do you have any tips on trying to find different ideas to start businesses? Any advice for a 16 year old that wishes to be a successful entrepreneur?

  19. Hi Dan Lok, I'm 26 years old and an engineer from Morocco (Africa) I'm working in a studies office, my goal is to get out if the salary life as soon as possible and create my own business. So I have a filter and a vision of what I wanna do in the next 5 to 10 years to have the knowledge and experience to do the "work".thanks to you I become more aware of what it takes to create a business. I'm note going easy on my self in my Step 1, I'm working a lot after work reading books to the point where I got some health issues of working hard. my question is knowing that Step 2 is gonna be harder do you think I'm doing it right or should I slow down or did it happen to you when you were growing.

  20. Thanks for the another learning for today😊 May I ask something ? "How MLM owners Compute their Compensation Plan for no overpayout and sustain the Company?"

  21. basically the more skilled you are the less time it would take💪 of course the general condition of the economy may play a factor to some unknowable degree.

  22. Dan ,I am giving you a situation
    Suppose you are living in a village but you have a internet connection,you want to learn new skills but you don't have enough money to learn those skills coz your family condition don't allow you to do so,and if you got learn via internet for free, you cannot apply them,coz your environment Don't allow you,you cannot leave your home, what will you do??

  23. Hey Dan, I started my financial freedom journey about a year ago and chanced upon your videos which greatly helped to shape my mindset and reinforced the choice i've made to work on my side hustles, keep expanding and increasing my number of businesses so that I can leave my current work and create a world of my own.

    Right now I've built afew online businesses that allows me to draw an income that is about 3/4 of my current job salary.

    But as a newbie I'm unsure of what point can I consider myself "mature" enough to leave my job, and as you mentioned, businesses are not stable with alot of "what ifs".

    Do you have any advice for someone like me, cause I aim to save up 3 years of my annual expenses as emergency funds and to build up an income that matches my current pay before i quit my job and venture out.

    I do not strive to be a millionaire but il much rather live a life with freedom of choice, where I automate most of my income sources and pretty much do whatever I want and i believe that I will eventually be able to build such a system.

    My biggest lack right now is actually someone I can talk to since I'm pretty much alone in my world where everyone "studies hard, get a good job and retire".

    Thanks for any advice you can give, awesome videos btw 🙂

  24. Only haters will hit the dislike button! Great video Sifu, looking forward to joining the HTC family soon 🙂

  25. You have gain experience over the years, you have grown to navigate challenges throughout the years so that enable you to have a stable business.

  26. Truthfully, your business will never be stable unless you sell your business to another company. That explains why many businesses filed chapter 11 bankruptcy.

  27. Thank you boss Dan Lok. Your advice is always practical and no BS and always challenge people to grow and stretch to make life better. I enjoy watching your videos and put your advice into practise. Wish your dream to impact 1 million people come true soon 😀

  28. It's beacause u have discovered how everything in business works… u know ur market, their mindset and u definitely have that level of confidence to convince and realise them what they need is actually with you… lots of love from sikkim DanLok…😊👍🏂🌍✌

  29. Dan killing at usual! You inspire me to post videos every single day and follow my Life Purpose and passions! Thank you! 🙏

  30. Hi Dan Lok I hope you read this I wanna ask you, I am starting my internet dropshipping business and also the environment that I'm in doesn't help, should I save money and focus on changing my environment or I focus on my side hustle business
    Thanks

  31. Hey there, I was just wondering if you are going to make any more Martial Arts practice videos? Really enjoying and refreshing certain knowledge's from your business video, thnx 👍

  32. Business is the game of stamina.. stamina in all phases of life..like mental ,physical, emotional,intelluctual etc .

  33. For me it comes down to experience and knowledge, if you have the knowledge you will be able to do it much sooner than someone else just starting out.

  34. Yo Dan what does your program promote when you are high ticket closer what are you closing?? What is the physical product that these so called closers are closing on im just curious??

  35. Well, before I met you, I started studying my career 2 years before, I don't know how long the others have been
    please a moment do you have to talk about everyone the what they are here to listen you

  36. Coming from a family of entrepreneurs I agree with you Dan. Depends on what you're business in & experiences

  37. When I succeed I will no longer be here to wait for my goals and my success
    Where did those long nights stay that was wasted time
    it's called CHANGE music right

  38. Dan iam from Zimbabwe is it bad to start without any documents during your first years wen things are hard

  39. ok Heres a question, I think Im pretty smart in some way – I can build automatic transmissions, Im an electrician- residential and commercial, I can build homes and like building log homes , I can weld, I can operate heavy equipment – so basically Ive workked my ass off and most of my life lived on 4-5 hour sleep a day – , I havent had a vacation in 9 yrs.. Bu Im not business smart- Basically Ive been a Very good slave. How to break the chains ?

  40. I look at when those things go wrong as life lessons. I explain it to my customers if it gets that bad and what will be done to address the issue and the problem at hand.

  41. Always valuable information, very insightful and highly motivating, thanks Dan. Ps. Liked the vid and already subbed 👍

  42. Thanks so much for the awesome video Dan 🔥 This will definitely help me Grow my Business and Become Wealthy!! Keep it up! 💯💯🙌

Leave a Reply

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