In this edition of the Affiliate Buzz, host and Instructor of the Affiliate Marketers BootCamp James Martell talks with guest Dan Lok who shares tips and takeaways for how to create a successful internet business of your own. Plus we learn about some of Dan’s failures and success along the way.

Some listeners may remember Dan from Affiliate Buzz #365 (link in the Resources section below) which aired last December. The episode was the second-highest rated for 2014, which is amazing considering how late it was in the year.

Some Background about Dan Lok

Dan Lok is serial entrepreneur, best-selling author, and an authority on internet marketing and building Internet businesses that lead to financial freedom. During the podcast he explains what holds people back and why you may be struggling in your own efforts.

Dan first came to Canada at age 14. Two years later, his parents divorced so he grew up an only child of divorced parents.

* Dad's bankruptcy left him unable to send money to Dan and his mom

* this led Dan to earning money to help support his family

* Dan originally wanted to be a martial arts instructor. When he realized his instructor was struggling financially, he knew that was not the life for him.

Dan had lunch with a wealthy individual and asked the person for advice. The person confirmed that Dan doesn't have the physical build of an athlete, wasn't a good student, and didn't have a screen presence - all that was left was entrepreneurship.

Dan's Early Days as an Entrepreneur

When Dan first tried his hand at being an entrepreneur, he lost everything - maxed out credit cards, lost all his money, lost equity in his home, and so forth.

Then Dan explains that his early choices with money, which included buying a new car every year and treating friends to expensive dinners, were not great choices. He cautions other entrepreneurs to make smarter choices with money when profits start turning.

Next Dan lists some of his early failed ventures, which include lawn mowing, software and computer repair, vending machines sales, and network marketing, to name a few. When Dan was jumping around, he was looking for something outside of himself to find success.

Dan says this was a big mistake because he never took time to develop the mindset and skill sets to be successful. People tell him everything he touches turns to gold - but he is quick to let them know that ten years ago everything he touched turned to crap.

Finally Dan tried his hand at marketing and copywriting, which led to online marketing, which provided some light at the end of a debt-ridden tunnel.

Insight from a Serial Entrepreneur

Wealth is committing to one idea over time. Dan says to master something, you have to focus on one thing and dedicate time to it, and then it will begin to turn a profit. Dan uses the example of James being a master of affiliate marketing.

Dan's research included the book Think and Grow Rich by Napoleon Hill and personal development tapes by Bryan Tracey. The result was being more successful, motivational and productive, but he still didn't have the breakthrough he needed.

Then Dan switched things up and focused on the other end of the spectrum - his business skills. He doesn't believe in faking enthusiasm and isn't a big believer in positive motivation. To those who say "Feel good and you'll make a lot of money" Dan says "if you make a lot of money you'll feel pretty darned good!"

"Motivation Is Good but Desperation Is Better."

All the good energy and intentions in the world won't close a sale. Dan's advice is to look at the objections a customer might have, and then find a way to overcome the objections. In short - prepare for the best while expecting the worst.

Dan's breakthrough came when he found his first mentor, Alan Jinx. For the next year Alan took Dan under his wing.