So, you read the book. Cool wasn’t it? It certainty gave me the motivational buzz that you get after the last page of a personal development book anyway. I don’t know about you but I was in someway nurtured by the constant cursing that went on throughout the entire book, like Dan Lok was somehow angry at the keyboard he was typing on.
I guess the feeling of nurture derived from the feeling that this guy who has made all this money, is just another guy like me and not some Harvey Spector character who graduated from Harvard or inherited the moon for his seventh birthday.
Besides the actual ‘F-U money’ element, the book is largely about the concept of improving quality of life, as well as stepping outside of this notion of ‘trading time for money’ which we all know too well. At first it’s hard to grasp gaining your ‘F-U money’ by doing anything other than either getting promoted or just working longer hours, which isn’t surprising seeing as this is the only model that we’ve been taught regarding money.
The quality of life aspect that Dan Lok refers to in the book is derived from a couple of aspects;
1.) Being very strict with your time and giving it only to the projects and people that will benefit you the most
2.) Creating systems which are largely automated that can earn you money whilst you sleep, as well as require little to no man power to keep them working.
This all makes perfect sense and is indeed a very important factor to freeing up time within your life. However, there is a slight problem with this book. He reveals that the way you make your FU money is to start an internet business, but what if you don’t know how to start an internet business, or have no idea what you’d sell?
Dan makes a number of very valid points regarding investments in this book, but perhaps the most valid of all is his point that the best investment you can make is the investment in your own education.
So let’s look at a popular model of ‘Internet business’, the space of digital marketing (digital being internet, marketing being selling something) and how they work. The first is a model reffered to as 'affiliate marketing', which as I’m sure you can gather from the name means selling somebody else’s product or service through your marketing. By being an affiliate you will get paid whenever the traffic that you send (people who click through your ad) goes through and makes a purchase, meaning that you’ll receive payments at all hours of the day, night, year or however much time your advert is live. This model completely contradicts the notion of trading time for money and is indeed how Dan made 25k in a single day as he reveals at the end of the book.
The process of someone making a purchase is completely automated: person clicks on page, person enters details, person receives product or service, affiliate gets paid.
The traditional way of working would mean that in order to earn more money we’d have to either get promoted time and time again, work longer hours or somehow duplicate ourselves in order to earn our hourly rate more than once at the same time.
Another 'Internet Business' income solution is through E-commerce. This literally means selling something online, and could be referring to your own product such as an e-book, or selling somebody else’s products. This is commonly done through people setting up their own E-commerce store (little online shop) and selling through eBay, Shopify or Amazon. You only have to open Facebook for two minutes to see an E-commerce store waving products in front of you.
So, in principle, here are models for online businesses which are currently making thousands of people across the world their ‘F-U Money'. Not only are these thriving markets but the affiliate route seems to be the way that most businesses are going today. You only have to look at how Amazon have killed Toys R Us in order to see this in practice. One of those stores embraced affiliates to sell its good and realised the power of E-commerce, one of these stores didn’t.
So here’s a question for you. If your own largely-automated business could make a substantially positive impact on your life, be it through freeing up time or just as a side gig along with your current job, or making you your ‘F-U Money’, would you be prepared to invest the time in gaining the skills required to make this happen? Would the weeks or even months of study be something you’d be prepared to do if you knew that a little way down the road you’d have your own largely-automated income stream working for you?
If the answer to either of these questions is no, then no worries, either your ratio of trading time for money works well for you right now or you’re just not prepared to dive in and learn a new skill set. I honour that, there’s nothing wrong with thinking that way, most people do.
If you on the other hand feel as though you are at a point where you want to learn affiliate marketing, Amazon FBA drop shipping and create that largely-automated income stream which will get you your ‘F-U Money’ in the way that Dan Lok mentions, then click on the link below this article. This link will take you to a page where you can get access to a free 7-day training series which will teach you how you can transfer your skill-set into the digital economy, and step-by-step what you’ll need to do in order to create your own largely-automated digital income stream. On the other side you'll find all the coaching, resources and strategy you will need, right there on your screen.
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“The journey of a thousand miles begins with one step.”- Lao Tzu