The 4 Types Of Entrepreneurs — Which Are You? Vancouver Business Leader Dan Lok Explains

– Now let me give you a model. A what? A model. There are four levels of business up. If I get into it, this is interesting. Actually check out this from Iman. The Facebook. I love it. I gotta read this out loud. So this is from Iman. So Entrepreneurs dream, okay. Here’s entrepreneur. I’m going to start my own business so that I can create my own schedule enjoy unlimited earning potential do what I love and make
all my own decisions. It’s going to be awesome! Well, entrepreneur’s reality. Sure, I can meet you
at 6:15am, no problem. Because if I don’t make this sale, I may be homeless in two months. (audience laughter) Which would suck because then I would have to do all of the minute
business administrative tasks that take up 95% of my
time at a broken desk in a shelter. I wish someone would
just tell me what to do so that I don’t have to keep making all of these hard decisions. Look how relaxed that
check out person looks. Grocery bagger, right? Maybe I should give up and
get a job in a supermarket. I was just laughing out
loud when I saw that. Wait, I would get bored. Never mind. I’m gonna keep working on my business and it’s going to be awesome. I will create my own schedule, blah blah blah. How many of you relate to this? Yeah, that’s fine. Let me ask you a question. Why are you in business? Tell me, why are you in business? Just yell the answer. Why are you in business? Okay, good. Why are you in business? – [Audience] It allows me to
achieve my life’s purpose. – Achieve your life purpose. Very nice. – [Audience] The future is
not in somebody else’s hands. – So you’re in control
of your own destination. Very good. Destiny. What else? – [Audience] Freedom. – Freedom. You want freedom.
Very good, very good. So how many of you got into business because you want more freedom? But how many found that when you actually get into business, it’s the opposite? You actually have less
freedom and make less money. So what’s going on here? So we can see other people
making a lot of money and have this dream … How many of us feel like
something is missing there? That something is missing? Yes? I’m gonna tell you what
exactly is missing. There are four levels of business. How many? – [Audience] Four. – The first level is what
I call Technician Tammy. What is it called? Technician Tammy. So Technician Tammy,
she focused on survival. What does she focus on? Survival. So as Technician Tammy, you
are trading hours for dollars. So a bookkeeper, a consultant,
an accountant, a lawyer. You could be making, you can
trade, make a high income. But at the end of the
day, if you stop working, your income stops. If you stop working, your income stops. The most common thing that
a Technician Tammy would say is I’m exhausted. I need a day off. I don’t want to work on weekends. I haven’t taken a vacation in three years. I’m not making enough money. I’m burned out. Most common thing. And here’s what, let me demonstrate. Here’s what Technician
Tammy looks like, okay? It’s a seesaw. Okay? You do the work, do the work,
do the work, do the work, do the work, and you chase
the work, chase the work, chase the work. And you
do the work, do the work, do the work, and then, huh, catch your breath. And you chase the work, chase
the work, chase the work. That’s what it is. Incomes ups and downs. Ups and downs. You’re getting paid for your time, and not for results. Getting paid for time, not for results. Technician Tammy. That’s level one. Level one. And that’s what a lot of entrepreneurs, they stay in that level one. And they don’t understand why. And they’re doing all these things. And then they’re level two, and so much of
entrepreneurs you know often they get to level two. Level two is what I call, you have, Manager Michelle. What is she called? – [Audience] Manager Michelle. – Sorry, what’s it called? Manager Michelle. As a Manager Michelle,
you focus on security. What do you focus on? – [Audience] Security. – Security. Security. The most common thing that
I imagine Michelle would say is if you want something done, you … – [Audience] Do it yourself. – There you go. You want
something done, do it yourself. I say it’s better to have
1% of 100 people’s effort than 100% of my own. The most common thing
as a Manager Michelle. Manager Michelle values independence. Doing things her way. Wanting to be right. The most common thing that
common Manager Michelle would say is I can’t find good people these days. I can’t find good people these days. How come they don’t care just like I do? I told her a million times, but she never gets it. They’re so stupid, these employees. As a Manager Michelle,
you’re running a business, you’ve got some people working for you, or with you, and here’s what Manager
Michelle looks like. Watch. It’s this. That’s what Manager Michelle looks like. You are running in circles. Putting out fires. Fixing from all the mistakes there from the people you employ, thinking that they work for you, but in reality, they don’t work for you, you, you work for them. So as a Technician Tammy, you don’t have a business, you have a job. You might think you have a business, no you have a job. As a Manager Michelle,
you don’t own a business, you’re business owns what? You. You’re business owns you. And that’s 97% of the
entrepreneurs operate on this side. 97% of the entrepreneurs
operate on this side. And they don’t even know why, and they don’t understand how
come my business doesn’t work. Because the business model doesn’t work. The intention right from
the beginning doesn’t work. Because you’re doing the work, you’re doing the work, or you hire some people and
you make a little bit of money. As a Manager Michelle,
you have some leverage, but you have no freedom. You have no freedom. If you cannot walk away from the business. You cannot walk away from the business. And that’s on this side. And now, let’s talk about the 3%. The small percentage of
entrepreneurs, they graduate, and they move up to the next level. Level number three. You have what I call Owner Olivia. What is it called? – [Audience] Owner Olivia. – Now Owner Olivia, she focuses on growth. What does she focus on? Growth. Now you are not doing the work, but you have to be physically
there in the business. You’re not actually doing
the hands on technical work. But you have to be there
monitoring the business. There’s a big difference. Now you might be, so the most common thing that an Owner Olivia would say is this. How can I empower my team? How can I empower my team? How can I put some systems in place so my business runs more smoothly? How can I maybe put in a marketing or client attraction
system that consistently and predictably attracts
clients to my business? How many can see there’s
a shift in mindset? It’s very, very different. You are not just focusing on
I wanna make a few more bucks. I wanna make more money. No, you’re thinking,
you’re way more strategic. Is what I’m doing today gonna
lead to where I want to go? It’s, here’s my goal, you reverse engineer, and say this is what I want to create, and this is what the business looks like. Now the biggest difference
between an Owner Olivia and a Manager Michelle is this. Now if Owner Olivia … If Manager Michelle. If Manager Michelle takes
a two week vacation, how long? – [Audience] Two weeks. – Her income would drop significantly. Or when she comes back,
it would be a mess. Okay? Owner Olivia takes a two week
vacation, she would come back and business is just fine. Income stays the same.
Revenue is the same. The employer doesn’t
even know you were away. That’s the difference. And that’s level three. That’s level three. Then level four, you have what I call, level four, Entrepreneur Eva. What’s it called? – [Audience] Entrepreneur Eva. – Entrepreneur Eva. Now as an Entrepreneur Eva, your focus is totally different. As Entrepreneur Eva,
you’re focus is freedom. What do you focus on? – [Audience] Freedom. – Freedom. The most common thing that an
Entrepreneur Eva would say is what’s my next big idea? What’s my next big idea? How can I find someone to run my company? How can I find someone to run my company? How can I leverage my contacts, my resources, my capital, and get the highest return? It’s a totally different in focus. It’s a different in mindset. It’s not even on the same planet. It’s not even on the same planet. As an Entrepreneur Eva, you have total leverage
and you have total freedom. Now you’re not doing the work and you don’t even have
to be physically there. You’re not doing the work, and you’re not physically there. The people ask me the question, well Dan how can you run 16 companies? I tell them, because I
don’t run 16 companies. Every single company, I’ve got a partner, an operator, running the companies. I can’t manage. I learned that many years ago. I’m a lousy manager. I suck at management. It’s not my thing. I’m a concept guy. I’m a strategic thinker. That’s the highest and
best use of my time. And you have to ask yourself the question, what is the highest and
best use of your time? And most entrepreneurs cannot run one measly business they have. And they can’t grow in this, a lot of them can’t even make a profit, they don’t know why. They don’t even know why. How many follow what I’m saying so far? Yeah? How many are a little bit shocked? Okay, good. Shocking is a good thing. Because I can see the look. I can see the look. Okay. So you’re at the four levels. Different levels, in fact, I wanna give you two minutes. How many minutes? – [Audience] Two. – Find someone to discuss
where you’re at right now, be honest, and where do you want to be? Where are you at now, and
where do you want to be? Two minutes, find a partner, preferably someone you don’t know. Two minutes, go.

66 thoughts on “The 4 Types Of Entrepreneurs — Which Are You? Vancouver Business Leader Dan Lok Explains

  1. i get the idea which is great. but as a hairstylist who's goal is to own my own salon. i see having income coming in from many sources but since i would have my own clients wouldnt i be both 1 and 4. due to type of business.? would be honor to hear from you.

  2. Dan, a big THANK YOU, once again. I've only come across you on Youtube 3 days ago and your knowledge and insights have helped me understand my SWOTs. You're awesome!

  3. When you said, how many were shocked. I was. My Goodness. I'm currently building systems to be Owner Oliver but really want to Embrace entrepreneur Eva because I got tons of great ideas that need to materialize. How can I have that transition?

  4. Sir, the resources you provide online are awesome. they have really reposition me for greater business adventure.

  5. Better 1% of OPeffort than 100% my own
    Tech: paid based on time, not result. Job.
    Manager: I cant find good people like me. Business own you.
    Owner: How can I empower employee. More srrategic.
    ENtrepreneur: focus on freedom. Big idea. Even suck at management.

  6. Oh Dan 4th level definitely was a different planet for me. I mean wow, does such thing exist on earth ?
    It's a marvelous perspective of entrepreneurship.
    Thanks for sharing Dan.
    You are awesome.

  7. I am currently at level 2. I work for a non for profit business as a store manager and I am currently in a rut trying to do all of the things as the manager michelle and not getting anywhere. We are in a process that will get me to level 3. I want to be at level 4. This was some excellent advice.

  8. Am on level 3 coz I own business and I want to empower employee but I can say also I take vacation and everything is mess so also level 2 and then am sure am on level 4 coz I have big mind of thinking and it works for temporary and bad managing loss it all 🤔🤔🤔 sometym then am thinking of level 1

    But thank for make understand where should I stay

  9. Done scroll all comments.
    No Iman guy here.
    He probably don't know his post get attention from Millionaire mentor XD

  10. That's me O&M&T. I have employees, successfully in business for over two years.
    I have been thinking about getting to E but I don't know how yet.

  11. Insightful as always. My question is, can I start my entrepreneurial journey from the right side or do I have to begin from the left and grow into the right?

  12. Insightful as always. My question is, can I start my entrepreneurial journey from the right side or do I have to begin from the left and grow into the right?

  13. … great content… just something really funny… the first guy in the white shirt… i sat next to him on the plane while in europe this february…

  14. HELP!! I’m literally just starting to put things in motion with copywriting thanks to you Dan for inspiring me to chase it. As I’m learning and coming up with ideas, how should I strategize or what steps should I consider to get myself to entrepreneur Eva one day!? I definitely don’t want to get stuck on the left size nor with Olivia! I’m trying to get myself away from the 9-5 paycheck to paycheck lifestyle. I’m literally at the infant stage.. Determined! Would love your feedback on this.

  15. Dan your information is really good. I'm gonna save up enough money to take your course and become an enterprenuer with total freedom. You have very insightful information. I myself have plenty of ideas for a business with awesome creative ideas that would sell great in the market.

    Thanks for sharing!

  16. I understand now why I work 60 hours a week, struggling every end of month and little by little loosing motivation in my 1 man company! I have now to work on how to become an entrepreneur and quit this "7to10 business" I created..!

  17. Damn Dan…. I shouted when you spoke of the second one…. I thought they are working for me but the truth is i am working for them… Thanks for the eye opener….
    The problem is… How do I reverse the situation?

  18. Thank you Dan… Now i have to get to work…. Working towards E. Eva. I just have to set everything straight…. Back to you later. Gonna get my freedom yet. (still have to use the word work)

  19. i've been an Owner Olivia, Manager Michelle and would do whaever it takes to be an Entrepreneur Eva to leverage highest use of my time and be able to enjoy total freedom. It won't be long that I'd be empowered to reach the highest level of entrepreneurship. Thanks to you Dan!

  20. I’m also more of a concept guy/strategic thinker, but how do I get to a position where I can work with someone who manages? Most people seem to go through the lower levels before the higher conceptual stage.

  21. Thank YOU for sharing this GOLD! Awareness is the beginning of transformation. I hope this is one of them for us. Thank YOU!

  22. Dan thanks for this quick insight! You're so, so right in saying majority get stuck in 1-3 and we don't even know it!

  23. Just Love you Dan Lok ❤️. I’m 23 yrs an engineering 👨‍🎓 from Bengaluru in India 🇮🇳 having a crazy vision of becoming an entrepreneur.
    You add so much value 💫in my life .
    boost Entrepreneurship. ✨

    I watch all your videos ▶️. It’s full of knowledge 💯wisdom 📝that’s Rational ,logical & practical. Helps to remove the various myths , mistakes about business 📊📈and you guide me like a torch light towards right direction. 🔦

    I’m blessed 🌬to have you Dan sir . ✨Astonishingly, surprisingly For adding so much value 💫in my life I just want to bless⭐️ youuuu from bottom of my heart with lotsss of happiness, 🌹Joy ☘️health😄& wealth. 💸May all your dreams come true . 🌠Thank youuu ✌🏻👍🏻so much for your wonderful videos. Keep up the great work 👍🏻✌🏻.

  24. I wished to be number 3… nw i really want to be number 4…..u really are a good teacher…Mr.Dan…ur awsome.

  25. The highest levels are owner and entrepreneur. At the owner level you're leading your company into growth. You're empowering your company to run smoothly and continue growing. Your team is solid, they have the right resources to tackle growth and everyday challenges. The entrepreneur finds an amazing leader just like the one described above and leaves the business in their hands. They then focus on developing a new business, in bringing value to the market in a different way, build up that idea into a business and once it matures hand it over to the care of another capable leader to look after the business. Repeat.

  26. Unfortunately I am a manager Michelle. I am such a control freak and perfectionist. I want every single part of the work to be unarguably perfect. My standards are too high and I find it hard to find people who can meet at least 10% of them.
    Could you please do a video on team building?
    Thanks a lot for all the premium content you make available for free here.

  27. When you are starting your first business, from scratch, you will start out as Tammy or Michelle. How long should it take to become Olivia?

  28. Enjoy the Video with you and your wife Jenny…. You two are so cute together😊😊

    I celebrate your success🎂🎂🎂🎂😄😄😄😄😄
    What one celebrate is what you attract along with proper techniques over time😯
    Entrepreneur stage is also what I called" The Pioneers Stage of a Business"

    Pioneering is encountering uncharted territory😯

    For example of any country, city or town that exists today. ..

    Started with dream put to 👞 👞 leather…..

    Same with you , Bill Gates and the family that owns Wal-Mart Stores, etc.

    I enjoy your valuable insights😮

  29. I aspire to be an entrepreneur. Reason self actualization and work to my potential. I have the skill sets of a good leader. Ur videos helps me in learning.

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